Sales at Detroit's Big Three automakers dropped 45 percent from a year ago, and the markets rose slightly on good news in the housing and manufacturing markets.
Gordon Sondland
Laura Cooper
President Obama met with banking officials Friday at the White House to discuss financial strategies that will help unfreeze the credit markets and shore up capital. Analysts assess the plan and what it might mean for banks around the country.
In other news, North Dakota's Red River Valley is facing potential record flooding as the river rose to its highest levels in recorded history, and the Dow Jones industrial average gained nearly 7 percent for the week despite closing Friday…
In other news, the Dow Jones industrial average and the Nasdaq both made gains and computer giant IBM announced it will cut about 5,000 jobs from its U.S. workforce.
In other news, stocks rose on a Commerce Department report that orders for durable goods increased in February and news that new homes sales rose 4.5 percent.
White House economic adviser Lawrence Summers details the Treasury Department's plan to clear "toxic" assets from banks through a combination of public and private investment.
In other news, Wall Street closed its second straight week of gains and President Obama reached out to Iranians through a taped video message encouraging public engagement and dialogue.
German economic minister Karl-Theodor zu Guttenberg speaks with Paul Solman about the country's view on economic stimulus measures and how Europe is handling the global financial crisis.
China's Premier Wen Jiabao expressed concern Friday about China's massive holding of U.S. debt and Treasuries, appealing to U.S. leadership to make moves to restore economic health and insure the value of China's holdings.
Question: Can you explain why, when these huge companies collapse, the bleeding isn’t slow and steady? Is it that they cannot forecast months ahead of time and see the end approaching? Or, have they just been operating with leveraged assets…
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