The employment figures released this morning were awful. Here’s the press release from the Bureau of Labor Statistics: Employment Situation Summary Since the recession began at the end of 2007 the economy has now shed about 4.4 million jobs. There seems to be no end yet to the worsening employment outlook. The number everyone follows […]

We should all pause and note the astonishing price of Citi’s stock. Today it fell below $1.00 for the first time. Its highest point was $57.00 back on December 18 2006. That’s quite some fall. This collapse in value represents all sorts of problems, not least of which is the NY Stock Exchange rule that […]

Do I love this? Last week I wrote that I thought that GM’s auditors would be faced with a quandary: they are obligated to tell the company’s shareholders whether the company is a ‘going concern’. Auditors hate being in this position because the mere suggestion of doubt is often enough to tilt the company over […]