AIG may becoming short-seller heaven after implementing a 20:1 reverse stock split this morning.
Other recent stories
Fed Props Up AIG: David Against Depression’s Goliath
The Fed today offered global insurer AIG (Ailing Insurance Giant?) an $85 billion loan in exchange for a nearly 80% stake in the company. The fourth such rescue in a matter of months (if you count Fannie and Freddie as two separate entities)… Read more
Lehman Bros., Merrill Lynch, Icebergs, and Voters
Calling today Black Monday would be somewhat unoriginal. The day, which promises to be a pivotal one in US economic history, has only just begun. So far, it’s looking like a Funeral Monday, with the fates of three major Wall Street… Read more
Business Notes
Ford stock jumped to $7.50/share today, after the company posted a surprise profit.
Apple is killing it with its new iMac, Magic Mouse, and Mac mini.
GM will shut down Saturn as a result of the collapsed Penske deal.
Google has purchased reCAPTCHA, which could help its text scanning project.
The postal service is offering workers up to $15,000 to leave their jobs.
Looking for t-shirts for the summer? Search all the major t-shirt shops at Teenormous.
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