Filed under: Bad news , Management , Insiders , Market matters , Politics , Headline news We can just about shelve any hopes of banking reform from Congress. Barney Frank, Chairman of the House Financial Services Committee said: “I don’t think you’re going to see that happen ” (referring to mandates for financial companies to process their swaps through a clearinghouse). Frank went on to say that there would be a presumption that standardized contracts would be sent to a clearinghouse but that it would not be an iron clad rule.

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Barney Frank capitulates to the bankers on derivatives reforms

Filed under: Major movement , Earnings reports , Forecasts , Good news , Competitive strategy , Employees , Market matters , Money and Finance Today , Alcoa Inc (AA) , DJIA , Recession Alcoa (NYSE: AA ) surprised the market this afternoon by posting its first quarterly profit of the year. The company credited recent cost cutting measures as the main reason for its profit of $77 million during the quarter (75.8% lower than the same period last year), or 4 cents per share excluding certain items

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Alcoa posts surprising third quarter profit

Filed under: Analyst reports , Management , Interviews , Employees , Housing , Federal Reserve , Recession We’ve heard from the U.S. Treasury and the Federal Reserve and they say that our recession is ending.

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U.S. still in a recession that may last until 2010

Filed under: International markets , Earnings reports , Forecasts , Products and services , Marriott Intl’A’ (MAR) , Recession Hotel giant Marriott International Inc. (NYSE: MAR ) will get its chance to impress Wall Street tomorrow morning before the market opens when it reports its third quarter earnings numbers. Analysts are expecting to see the company show earnings of 13 cents for the quarter, down from 34 cents per share during the same period last year

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Marriott earnings preview

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Filed under: General Motors (GM) Mark LaNeve has been dismissed as General Motors’ North American sales chief as the company looks to reverse a sales decline that has been driving tanking market share in the North American market. On a conference call with investors, CEO Fritz Henderson said that the company would “benefit from fresh perspective” on marketing in the United States

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General Motors tells North American sales chief to pack his bags

Filed under: Target Corp. (TGT) , MasterCard Inc’A’ (MA) MasterCard Advisors (NYSE: MA ) service SpendingPulse says luxury and electronics sales headed upward last month , in a pleasant deviation from what became the norm all too long ago

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Luxury spending on the rise

Filed under: Forecasts , Options , Technical Analysis Avis Budget Group (NYSE: CAR - option chain ) stock traded lower Wednesday after the company said a proposed offering of $250 million in notes could reduce its earnings per share.

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Avis Budget (CAR) issues earnings warning

Filed under: Scandals You’ll never believe who’s dropping dimes to the feds ! Sam Antar , formerly the CFO of Crazy Eddie , known in the New York area for over-the-top commercials that scared the hell out of kids (well, me at least), knows his way around a questionable balance sheet.

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Crazy Eddie’s crazy ex-CFO investigates Overstock