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U.S. Auto Parts Companies Looking for Their Stimulus Money Too
U.S. companies that make and supply auto-parts to major carmakers are pleading for a bailout from Washington, as many are now on the verge of declaring bankruptcy. Auto-parts companies may seek between $10 billion and $12 billion in cash and guarantees from the federal government as soon as this week.
A sharp drop in U.S. car production has waylaid the auto-parts industry and now skittish banks are holding credit back from companies looking for a life preserver. Alarmed by the precarious state of Detroit’s Big Three, many banks have stopped accepting receivables, or income that suppliers book in anticipation of future…
27Jan2009 | Money Morning | 0 comments | ContinuedAmerica “should declare bankruptcy”
CNBC:
When the Federal Reserve policymakers decide on interest rates Tuesday, investors will probably look one step beyond their decision, to gauge how much money will the Fed be willing to print once it is out of rate ammunition.
Rates won’t likely hit zero Tuesday, but this could be unavoidable in the near future, according to strategists and market experts.
"Rates will fall close to zero. Everywhere," Hugh Hendry, chief investment officer and partner, Eclectica, told CNBC.com. "The central banks will be forced to take them to zero because of the widespread disruption in society, for job losses."
And nations may have to let…
17Dec2008 | The Real Deal | 0 comments | Continued
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