an updated draft bill yesterday that would ban credit-default swap trading unless investors owned the underlying bonds. That might prohibit most trading in their $29 trillion market.
I dont like credit default swaps, Taleb said. We should probably stop trading derivatives, anything more complex than regular options because I am an options trader, and I dont understand options. How do you want a regulator to understand them?
Speaking of drying up. This from one of the companies that move those autos all over the globe: Dryships shares sink on breach of debt covenants BANGALORE, Jan 29 (Reuters) - Shares of Dryships Inc fell as much as 30 percent Thursday, a day after the Greek bulk carrier said it was in breach of certain financial covenants and planned to sell shares worth $500 million. Dryships had debt facilities with many banks, as opposed to many competitors that have one or two facilities with a syndicate, analyst Gregory Lewis of Credit Suisse said in a note to clients.
Ford Taurus was a big seller for them years ago. Now they have re-invented the Taurus to try to again make it their hot product.
But what they fail to realize, in my opinion, is that the reason it was such a hot seller was because it was a decent car at a LOW price. Now they expect to get in the mid-high $20s for a Taurus?
Price, Ford. It's about PRICE. Taurus buyers want a good car, cheap. Not a luxury sedan, expensive. Who are you targeting? Target your market.
To a complete and utter idiot like me, can someone in layman's terms explain how Ford loses 5.9 billion but "revenue meets targets". Does that mean they TARGETED themselves to lose 6.0 billion?
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Stupid ignorant peasants! Don't you know the only purpose of companies is to maximize the shareh...I mean CEO bonus packages! The more they get, the more you will get...if you asskiss us nicely and and and...
Losing a lot of money is the new black. There is clearly a fundamental issue facing corp America and a lack of bailouts are not problem.
The car companies are the general direction, not the exception. Better have a plan that manages a trip down to a lower standard of living because that's where we're headed.
@Rob Dawg - thanks for that DRYS note. I'd been waiting for something like that to happen to them. They simply had too much debt and a bit overly-ambitious in their lack of hedging through contracts.
I have received a letter from Ford Credit today. Went something like this: "Dear Valued Customer,
We are closing all lending operations in Australia as of today, however if you still owe us monies, please continue to pay in an orderly fashion"
Have about 2k left to pay on the car. Maybe I should skip a few payments... Just to see what happens.
I fully agree with Outsider's comments on the old Taurus. I loved my 02 wagon, not least because it was a decent car for not much money, and it was perfect for ferrying kids and the dog.
And Ford is the healthiest of the U.S. automakers ...
This makes me giggle. It's like three chronic lung cancer patients slipping to their death and bragging about whose the healthiest. As if it matters, considering.
The only way for any of the 3 to survive is to go structured BK. Any more bail out money is prolonged death. I don't think there is a car company on this earth right now that is not tanking. The 3 are just ahead of the rest.
If any American car company deserves to survive so far it's Ford. They haven't participated in the blatant fleecing of Americans to date. That could change and then they would have to be added to the list of boycotted companies.
query_tool writes:
Have you driven a Ford lately?
query_tool | 01.29.09 - 9:15 am | #
query_tool, yes I have and do every day. My Ranger XLT is the best and and most reliable vehicle that I have ever owned (that includes German and Japanese vehicles that I have owned). The trouble for Ford is that I don't buy one every two years but take care of it and keep them a long time.
Consumer reports has the Ford F150 is in the top two truck reliability wise and the Ford Fusion is also in the top two in reliability and Consumer reports said that Ford in in line with the Japanese cars in reliability, but that GM/Chrysler were still much further behind.
For the record, I own 1 Ford, 1 Jeep and 1 Toyota, I like my Jeep the best! I wish the Jeep brand wasn't getting watered down, Chrysler needs to burn just for that.
Hope Ford makes it, Toyota sales are down as well, there is currently a $5000 rebate on Tundra's and only $4000 on the F150
an updated draft bill yesterday that would ban credit-default swap trading unless investors owned the underlying bonds. That might prohibit most trading in their $29 trillion market.
I dont like credit default swaps, Taleb said. We should probably stop trading derivatives, anything more complex than regular options because I am an options trader, and I dont understand options. How do you want a regulator to understand them?
emo?
How much longer before they get some TAPR funds? My guess, June.
o way!
Given that unemployment has really started to skyrocket in the last couple months, this can't bode well for the current quarter.
I thought not.
Not a big surprise to me . Will have their ahnd out too ?
Have you driven a Ford lately?
whocoodhadnode?
And Ford is the healthiest of the U.S. automakers ... Posted by CalculatedRisk on 1/29/2009 09:04:00 AM
## And they will be the one that survives. We'll know them as the Big One from Detroit.
postCount('5481761820109673439');
Has anyone driven a ford lately ?
Looking at the aggregate of their statements over the past several months, I'd say they're shrinking the company generally.
Which is what has to be done. Hope they're successful - we don't need another on the dole.
the new big three:
Standard Oil (don't laugh), Ford, J P Morgan.
Speaking of drying up. This from one of the companies that move those autos all over the globe:
Dryships shares sink on breach of debt covenants
BANGALORE, Jan 29 (Reuters) - Shares of Dryships Inc fell as much as 30 percent Thursday, a day after the Greek bulk carrier said it was in breach of certain financial covenants and planned to sell shares worth $500 million. Dryships had debt facilities with many banks, as opposed to many competitors that have one or two facilities with a syndicate, analyst Gregory Lewis of Credit Suisse said in a note to clients.
Found On Road Dead
I dont understand how you could loose so much money. If the market is slow, close the doors for a year or two.
Thank God the UAW is still around to protect worker's rights!
Ford makes good trucks.
and pretty much all lower middle/lower class females like v6 mustangs.
If Ford didn't do at least these two things right, they would be dead as a door nail.
OT:
Apparently, Mark Zandi thinks the $53 million for the NEA is a total waste.
I think an artist is a more valuable job than an economist.
In fact a bad artist is more valuable than Mark Zandi.
Zandi has been so wrong for years, and now thinks he has a right to be even stupider.
F*** Mark Zandi!!!
The Ponies, they're dying!
Revenue beat target! Ford up! Market up! Hooray!
Found On Road Dead
\t Anonymous | \t \t \t \t01.29.09 - 9:19 am | #
## First On Recovery Day
Ford Taurus was a big seller for them years ago. Now they have re-invented the Taurus to try to again make it their hot product.
But what they fail to realize, in my opinion, is that the reason it was such a hot seller was because it was a decent car at a LOW price. Now they expect to get in the mid-high $20s for a Taurus?
Price, Ford. It's about PRICE. Taurus buyers want a good car, cheap. Not a luxury sedan, expensive. Who are you targeting? Target your market.
To a complete and utter idiot like me, can someone in layman's terms explain how Ford loses 5.9 billion but "revenue meets targets". Does that mean they TARGETED themselves to lose 6.0 billion?
Huh?
It is a mere fleshwound!
Dryships shares sink on breach of debt covenants
Oh noes! I hope they don't shut their website down, it's the only place I know of to check the Baltic Dry!
New Thread: Continued Unemployment Claims at Record High ( 0 comments ...You could be FIRST! )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: Mibbit IRC client widget (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
What others have said about CRBot:
Gary writes: This CRbot is pretty nifty.
EvilHenryPaulson writes: CRBot is great on mobiles
Loudocracy writes:
Thank god CRbot spared me from that dead thread.
Hoopajoops writes: Posting a test message from the IRC Channel... THIS THING ROCKS
CRBot: Killing dead threads deader since last week.
BDI.
Including the scariest cliff diving graph ever. Well, so far... 
Stupid ignorant peasants! Don't you know the only purpose of companies is to maximize the shareh...I mean CEO bonus packages! The more they get, the more you will get...if you asskiss us nicely and and and...
Losing a lot of money is the new black. There is clearly a fundamental issue facing corp America and a lack of bailouts are not problem.
The car companies are the general direction, not the exception. Better have a plan that manages a trip down to a lower standard of living because that's where we're headed.
@Rob Dawg - thanks for that DRYS note. I'd been waiting for something like that to happen to them. They simply had too much debt and a bit overly-ambitious in their lack of hedging through contracts.
I have received a letter from Ford Credit today. Went something like this: "Dear Valued Customer,
We are closing all lending operations in Australia as of today, however if you still owe us monies, please continue to pay in an orderly fashion"
Have about 2k left to pay on the car. Maybe I should skip a few payments... Just to see what happens.
Tis but a flesh wound.
I fully agree with Outsider's comments on the old Taurus. I loved my 02 wagon, not least because it was a decent car for not much money, and it was perfect for ferrying kids and the dog.
a six billion dollar loss will require F to make an excess $2000/car to repay. that's just straight nutz.
Anonymous writes:
Tis but a flesh wound.
Yep, the flesh just below the chin...
dated forecast saar
GS
http://vip.ts108.com/baogao/080905/GS--August%20auto%20sales%EF%BC%9A13.7%20million%20SAAR,%20up%20from%20July%20but%20still%20low.pdf
sept '08
And Ford is the healthiest of the U.S. automakers ...
This makes me giggle. It's like three chronic lung cancer patients slipping to their death and bragging about whose the healthiest. As if it matters, considering.
Ford tapped a revolving loan
AllenM ?
sorry, based on GS '09 forecast, it will require an excess $2700/car
The only way for any of the 3 to survive is to go structured BK. Any more bail out money is prolonged death. I don't think there is a car company on this earth right now that is not tanking. The 3 are just ahead of the rest.
If any American car company deserves to survive so far it's Ford. They haven't participated in the blatant fleecing of Americans to date. That could change and then they would have to be added to the list of boycotted companies.
query_tool writes:
Have you driven a Ford lately?
query_tool | 01.29.09 - 9:15 am | #
query_tool, yes I have and do every day. My Ranger XLT is the best and and most reliable vehicle that I have ever owned (that includes German and Japanese vehicles that I have owned). The trouble for Ford is that I don't buy one every two years but take care of it and keep them a long time.
Bring back the Pinto.
Consumer reports has the Ford F150 is in the top two truck reliability wise and the Ford Fusion is also in the top two in reliability and Consumer reports said that Ford in in line with the Japanese cars in reliability, but that GM/Chrysler were still much further behind.
For the record, I own 1 Ford, 1 Jeep and 1 Toyota, I like my Jeep the best! I wish the Jeep brand wasn't getting watered down, Chrysler needs to burn just for that.
Hope Ford makes it, Toyota sales are down as well, there is currently a $5000 rebate on Tundra's and only $4000 on the F150