Check out this chart of SIRI.....can it break the trendline?
http://investorshub.advfn.com/boards...ge_id=34504413
SIRIUS XM SATELLITE RADIO FORUM
Check out this chart of SIRI.....can it break the trendline?
http://investorshub.advfn.com/boards...ge_id=34504413
SIRI is now green with the market pulling back....I thought this might happen.
Will it last into the close?
siri is very close to going green
It was green when I made that last post...Originally Posted by trippingthespeculatingpos
keeps falling back i know
last 5 mins, put your rally cap on
SIRI closed @ .12...........down .0005 on volume of about 32 million shares traded.
I hope 2009 is kinder to us all...
Happy New Year everyone!
its up ah, i wish i could uinderstand that chart haha
http://www.bloomberg.com/apps/news?p...LoA&refer=home
Treasury Drafts Broad Rules on More Auto Industry Aid (Update2)
Email | Print | A A A
By Rebecca Christie
Dec. 31 (Bloomberg) -- The U.S. Treasury drafted broad guidelines for aid to the auto industry that would let officials provide funds to any company they deem important to making or financing cars.
With today’s announcement, the Treasury is giving itself room to provide money from the Troubled Asset Relief Program beyond loans already committed to General Motors Corp., GMAC LLC and Chrysler LLC.
That’s consistent with analysts’ speculation yesterday that suppliers, such as GM’s bankrupt former parts unit Delphi Corp., might be eligible for assistance. The Treasury guidelines may encourage more guessing on what companies and industries are next, said Vincent Reinhart, resident scholar at the American Enterprise Institute in Washington.
Treasury officials “much prefer discretion, and so they would view the statement as being constructively ambiguous,” Reinhart said. “It’s appropriate that they end the year the way they spent most of it -- that is, adding uncertainty into an environment in which there’s a lot of uncertainty.”
The guidelines don’t bind the government, so the lack of specifics gives President-elect Barack Obama plenty of leeway to decide who succeeds and fails when he takes office in three weeks. The bailout was originally designed to buy assets from banks and has instead become a fund for Treasury to prop up lenders, insurers, carmakers, auto-finance companies and, now, any firm that may be important to those industries.
Slippery Slope
“The further you go, the slipperier the slope becomes, the more you open the door to anyone who says, ‘Look, my firm is in trouble, I need help too,’” said Lyle Gramley, a former Federal Reserve governor and now a Washington-based senior economic adviser for Stanford Group Co. “We don’t want to go any further down that road than we absolutely have to.”
The Treasury already has provided $6 billion in aid to GMAC, the financing arm of GM, and up to $17.4 billion in financing for GM and Chrysler, using funds from the $700 billion bank-rescue package.
“Treasury will determine the form, terms and conditions of any investment made pursuant to this program on a case-by-case basis,” the Treasury said in the new guidelines. “Treasury may consider, among other things, the importance of the institution to production by, or financing of, the American automotive industry.”
Major Disruption
The government will weigh “whether a major disruption of the institution’s operations would likely have a materially adverse effect on employment and thereby produce negative spillover effects on economic performance” or on credit markets, the Treasury said.
This week’s funding agreement between the Treasury and GMAC opened a new rescue program for the auto industry as part of the TARP. Treasury said then that the GMAC agreement was “part of a broader program to assist the domestic automotive industry in becoming financially viable.” A Treasury official said there’s no cap or deadline for aid to the auto industry under the TARP.
“We would not be surprised to see additional government funds to GM to support a Delphi solution,” JPMorgan Chase & Co. analyst Himanshu Patel said in a report yesterday.
The program could range anywhere from full bailouts of specific companies to merely keeping others going while in bankruptcy to ensure production isn’t interrupted, said Kirk Ludtke, an analyst at CRT Capital Group Inc. in Stamford, Connecticut.
“The Detroit three are still at risk,’’ Ludtke said, referring to GM, Chrysler and Ford Motor Co. “The government is acknowledging it needs to assure at least an orderly restructuring of the key players in the auto industry.’’
To contact the reporters on this story: Rebecca Christie in Washington at Rchristie4@bloomberg.net;
Last Updated: December 31, 2008 15:50 EST
wow most gains are lost ah, siri down .116
Reply With Quote