Friday, April 11, 2008

photo by -Gep-


Quote for the day:

I don't believe in yesterday, by the way.

- John Lennon

---

In the news:

As a test to see what the Federal Reserve would accept, Lehman Brothers repackaged unsold debt and used the Federal Reserve's new borrowing facility to convert loans into cash.

"General Electric posted an unexpected 6 percent drop in first-quarter profit on Friday, as the slumping U.S. economy and credit crunch drove down profits at its financial, industrial and health care units. Due to the size and variety of its operations, GE is regarded as a bellwether of the U.S. economy. "It's confirmation that we're in a recession," said Jerome Heppelmann, portfolio manager at Liberty Ridge Capital in Berwyn, Pennsylvania."

Sphere: Related Content