• It looks like Chrysler will file for Chapter 11 bankruptcy protection today after last-minute negotiations with creditors failed to result in a deal. [BN]
• Good news: fewer Americans filed first-time applications for unemployment insurance last week. Bad news: personal spending is down. [BN, WSJ]
• UBS has eliminated 2,000 U.S. jobs as part of a round of job cuts. [DB]
• Hedge funder Phil Falcone has been sued by his former right-hand. [NYP]
• State Street Corp. is now under investigation by state regulators. [WSJ]
• Financier Danny Pang has been given $1 million bail. He'll be under house arrest, though, so presumably he won't be heading off to China. [DB]
• Changing AIG's name to AIU has done little to redeem the company's rep or distract from its previous failings, you'll be shocked to hear, we're sure. [NYT]
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Roundup
Wall Street: Thursday Morning
- Posted at 9:38AM on Apr 30, 2009
Email- Filed Under: AIG, Chrysler, Danny Pang, Finance, Phil Falcone, UBS, Unemployment, Wall Street, State Street Corp
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LesterColt
said at 1:52PM on Apr 30, 2009
AIG's name changing fiasco is so pathically funny. One blog is even having a contest to rename it. http://tinyurl.com/c99j3j That's a good thing, because something tells me they'll need all the help they can get!
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