Company Earnings Announcement

Stand back, Wolfman is about to blow

GM announced today that they earned $1.3 billion in the second quarter, mostly in North America, which more than offset a $200-million loss in Europe and smaller profits from the rest of the world. Sounds like good news right?
GM announced today that CEO Ed Whitacre will step down, and Dan Akerson will take his place. Sounds like good news right?
Dan Akerson since 2003 has been with The Carlyle Group. Uh-oh, somebody hang on to Wolfie.

ANOTHER company that is "too big to fail"! Quick! THROW MONEY AT THEM!

One of the largest companies of it's kind in America, Blockbuster Video may file for bankruptcy. AREN'T THEY "TOO BIG TO FAIL"?

Blockbuster Says May File for Bankruptcy

By Joseph Woelfel 03/17/10 - 12:44 AM EDT 

DALLAS (TheStreet) -- Blockbuster(BBI), the video rental chain, said it could be forced to file for bankruptcy if cash flows don't improve and it's unable to restructure its debt.

Blockbuster's debt load has been reported to be as high as $1 billion.

Wells Fargo to take $1.4 billion charge for bad loans


Wells Fargo said it would put its riskiest $11.9 billion of home equity loans into a "special liquidating portfolio." It expects losses in this portfolio will total $1 billion over 2008 and 2009, and decline over time as loans are repaid.

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