Market Currents

• Tuesday, November 24, 2009

• 10:42 AM GM sale of Saab to Koenisegg is off. ((CNBC)) 1 Comment

• Thursday, November 5, 2009

• 08:23 AM FBI arrests seven more people in connection with ongoing Galleon insider trading case. ((CNBC)) Comment!

• Friday, October 30, 2009

• 09:20 AM CIT Group (CIT -27.3%) is closing in on 2/3 of its bondholder votes for a prepackaged bankruptcy, and is likely to file on Sunday. ((CNBC)) Comment!

• Wednesday, October 28, 2009

• 09:24 AM Goldman Sachs (GS) shaves Q3 GDP forecast to 2.7% from 3%. ((CNBC)) 3 Comments

• Thursday, May 28, 2009

• 09:36 AM GM (GM) bondholders accept amended debt-for-equity offer. ((CNBC)) Details to follow. Stock halted at $3.11, up 170%. Maybe this is why it wasn't trading at $0.00 yesterday? 8 Comments

• Tuesday, May 26, 2009

• 17:10 PM Chrysler may emerge from bankruptcy as early as this week, a source says ((CNBC)). More here. 1 Comment

• Thursday, April 30, 2009

• 08:59 AM Sources say we'll get an announcement on the Chrysler bankruptcy filing at 12:00 ET ((CNBC)). Separately, sources say U.S. and Canadian governments will kick in $15B in financing to help Chrysler make it through Chapter 11. The U.S. will take an 8% stake in the automaker; Canada 2%; and Fiat will get a 20% share. Comment!

• Monday, March 30, 2009

• 12:19 PM That was quick: Chrysler says it has reached an agreement with Fiat and Cerberus on a global alliance. ((CNBC)) Comment!

• Friday, February 20, 2009

• 09:32 AM If DJIA goes below 7286, it will be the lowest level since Nov. 1997. ((CNBC)) Comment!

• Tuesday, January 27, 2009

• 07:15 AM Dow Chemical (DOW) CEO says he's definitely interested in pursuing dialogue with Rohm & Haas (ROH); it's his great hope they will find a way to get the companies together; but that at agreed price deal would be an 'economic disaster' for all parties. ((CNBC)) Comment!

• Monday, January 26, 2009

• 08:37 AM Thain says Merrill's big Q4 losses were "almost entirely on legacy positions" that predated his arrival "and were due to market movements." Says he was "completely transparent" with BofA (BAC), and that it learned about its losses when Merrill did. ((CNBC)) Comment!