Would I be correct in the presumption that the core of this business is related to airports and travel?
My concern is that as the economy worsens (and I see no quick turn around) that travel is going to get hit more and more, especially airline travel. As such, my concern is just how exposed this company is to that fall off in business.
The only thing I see going on is the government throwing money at banks and GSEs and the banks are just raising fees and interest rates to cover anticipated new charge offs related to credit card debt going bad.
I'd like to think this Titanic economy can turn around, but I just don't see it happening. All I see is inflation, higher fuel prices with will translate into higher food costs and less discretionary income to consumers.
At any rate, I guess I am concerned about the next shoe dropping like it did in October-December of last year. There is just something contrived about this rally.
Comments or observations? Is it likely for MIC to revisit its low in the next three months? If not, what will keep it moving in a positive direction with all the bad news yet to hit?
The only consolation in watching Obama purposely accelerate the destruction of what has allowed this country to be the best place on earth to reside is that younger fools like you who embrace his lunacy will have more time to endure its consequences.
P.S. Don't get angry, get wise.
Obama Fires GM CEO Rick Wagoner
Obama has personally fired the CEO of General Motors, Rick Wagoner. In perhaps the first time in written American history that a US president has fired a CEO of a major company. The surprise announcement redefines the relationship between business and government in this era of subsidies and bailouts.
UPDATE 2-GM details plans to wipe out current shareholders
The unusual plan, which was detailed in a filing with U.S. securities regulators, would only need the approval of the U.S. Treasury to proceed since the U.S. government would be the majority shareholder of a new GM, the company said....
...GM shares closed on Tuesday at $1.85 on the New York Stock Exchange. The stock would be worth just over 1 cent if the first phase of GM's restructuring moves forward as described....
Once GM has issued new shares to pay off its debt to the U.S. government, bondholders and its major union, it said it would then undertake a 1-for-100 reverse stock split....
Documents: Paulson forced 9 bank CEOs to take TARP
NEW YORK (AP) -- The chief executives of the country's nine largest banks had no choice but to accept capital infusions from the Treasury Department in October, government documents released Wednesday have confirmed....
The USA will soon be one of the poorest countries in the world.
Still can't see it ?
Best of luck to you anyway.
Same thing just differant.Now our U.S. government would be the majority shareholder of our businesses.
Obama off to a good start.
> Under President Obama's budget submitted to lawmakers,
> wireless carriers such as Verizon, AT&T and Sprint would
> be hit with huge fees for the right to hold a spectrum
> license. The fee per carrier would be $50 million this year
> and eventually rise to $500 million per carrier, per year
> within a decade. Users fear carriers will add the new fee to
> phone bills.
> The Obama administration Feb. 26 proposed to tax wireless
> carriers as much as $550 million per year for the right to
> hold a spectrum license. The fee would be in addition to the
> billions carriers have already paid in spectrum auctions
> held by the FCC (Federal Communications Commission).
> Under the budget outline provided by the Obama
> administration, the new fees would be used to help reduce
> the $1.7 trillion national deficit. The proposal before
> Congress would charge carriers like AT&T, Verizon and
> Sprint $50 million this year. The fee per carrier would jump
> to $200 million in 2010 and eventually rise to $550 million
> by 2019....
Shareholders Be Damned!
By ALAN ABELSON | MORE ARTICLES BY AUTHOR
How the Washington gang brought Ken Lewis to heel and forced Bank of America to go through with its acquisition of loss-ridden Merrill Lynch. If everything's coming up roses, why are corporate insiders selling?
Background: The Auto Task Force from the Obama administration announced yesterday that for Chrysler to receive more government aid it must be on the condition of a Chrysler and Fiat merger. The merger would make Chrysler-Fiat the world’s sixth- largest auto company by vehicle sales.
Chrysler has stated that a framework for a merger has been agreed to in principle in January, but “substantial hurdles” remain.
The initial plan holds that Fiat takes a holding of 20% in Chrysler, and ultimately limited to a 49% stake, a person familiar with the alliance plans said. If the deal goes through Fiat is also rumored to want to start making Fiat models in the U.S.
Within the 30 day period the Task Force is looking for Chrylser must merge with Fiat, develop a new business plan and enter a government-orchestrated bankruptcy to eliminate Chrysler’s debts
Within this 30 day period will Chrylser be able to accomplish this first set of goals laid out by the Obama administration?
We will be saved with Obama's Hoover style tax hikes. Just because we are on a path of repeating the policies of the 1930's under Hoover it doesn't mean that we will have a Great Depression too does it? Won't be able to blame Bush for that one.
I am sitting this one out until there is some clarity. There is so much BS and wishful thinking going on in the media and DC that I almost feel like it is a witch doctors' convention.
We are a sober minute away from a major run on the big Wall Street banks. These clowns are like zombies sucking up money from Bernanke and then bleeding their customers. And the pitiful a-holes in DC do the dance of "consumer protection" legislation that won't go effective until it is too late. Let's face it, Congress is just a bunch of puppets of the big banks and GS.
I hate to be a pessimistic person, but what is going on in DC is nothing short of the Captain of the Titanic telling the band to keep playing to keep the public dancing while the crooks are loading up the spoils and getting into the lifeboats. All the while, they conjure up new "threats" to keep everyone looking the other way like they were some master magicians playing card tricks.
The gig is up! It is just a matter of time before the obvious becomes obvious to everyone.
It is a shame, but I think everyone knew that this day would come. It took 30 years to create this mess and it will take 30 years before it recovers. It could turn much quicker, but there is going to have to be a very new perspective. But one thing is clear, the world of the future is not going to be run by Blue eyed White guys any more. They cooked their own goose and lost all credibility. FWIW, I am a Blue eyed White guy and I am ashamed of the absolute unbridled greed that took hold in this country starting with Ronald Reagan and perpetuated today by the likes of Limbaugh, Hannity, et al. If you notice one thing these Elmer Gantry's have in common is that the pander to the "You" and not the "Us". And, I will throw into the pile the equally worthless counter parts on the Democratic side.
Bottom line, it took both a left wing and a right wing to fly us into the mess. And that is what happens with you have a birdbrain country.