Archive for December, 2008

Wells Fargo and Wachovia Merger Completed (Business Wire)

SAN FRANCISCO—-Wells Fargo & Company said today it has completed its merger with Wachovia Corporation, effective December 31, 2008, creating North AmericaĆ¢??s most extensive distribution system for financial services with 11,000 stores, 12,260 ATMs, wellsfargo.com and Wells Fargo PhoneBankSM.
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GM gets $4 billion rescue loan, Chrysler on hold (Reuters)

The U.S. government on Wednesday paid out the first $4 billion in emergency loans to support General Motors Corp but a parallel rescue payment for Chrysler LLC was on hold until the new year.
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Bankruptcy an option for chem giant LyondellBasell (AP)

LyondellBasell Industries, the world’s third-largest independent chemical company, said Wednesday that it its considering bankruptcy protection as a broadening recession eats away at consumer demand.
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Wall St set for mixed start as closes dismal 2008 (Reuters)

Stocks were set for a mixed open on Wednesday, which ends one of Wall Street’s worst years and raises hopes that a new year and fresh policy initiatives will stave off a deepening recession.
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Kevin Bacon, economist latest hurt in Madoff scheme: reports (Reuters)

A prominent Wall Street economist, Hollywood actor Kevin Bacon and his wife are the latest people to have lost money on investments connected to accused swindler Bernard Madoff, according to media reports.
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