Everyone’s focus seems to be on GE and its earnings announcement scheduled for tomorrow. They pay $13 billion in annual dividends and that can probably not continue. Even though Immelt promised that ’09 would not see a dividend cut. The stock dipped below $12 (down 62% in last year) yesterday and I suspect the dividend cut as well as the potential loss of their AAA rating is baked-in.
Toll Brothers is offering interest rate of 3.99% on their houses.
GOOG and MSFT report after the close and this may determine if the mini tech rally continues. Wrong; MSFT reported before the opening and it wasn’t pretty. And they announced layoff of 5000. Stock is down 7%+. You can kiss the tech rally good bye.
Am I the only one who feels Obama’s first work day was less than spectacular? Does meeting with his economic advisers for forty-five minutes and speaking to the White House staff constitute grind-stone work ethic?
Jay Leno said: Vice President Cheney pulled a muscle in his back. Did you see him in the wheelchair today? You would think being in a wheelchair would make Cheney more sympathetic, but it made him look kind of evil.
Karl Rove on Bush: “Though older and grayer, his brows more furrowed, he is the same man he was, a person of integrity who did what he believed was right. Few presidents had as many challenges arise during their eight years…..or had to act in the face of such hostile media and elite opinion.” There is that “elite” again. When are Republicans going to stop feeling they are non-elites? And as for Mr Bush doing what he believed was right guess I would have preferred it if he had got it really right.
