Marketplace Scratch Pad

Morning Reading

Scott Jagow Mar 31, 2009

It’s not fun times at the Sun-Times. The newspaper filed for Chapter 11 this morning. That gives Chicago the dubious distinction of being the first U.S. city served by two bankrupt newspapers. Other stories and columns of interest:

Good Riddance to a Lousy Quarter (Marketbeat)
“Today’s session marks the end of a brutal first quarter, one that has seen the Dow industrials drop 14.3%, the worst first quarter since the first three months of 1939, when the Dow fell by 14.8%.”

Ford offers buffer to buyers who lose jobs (CNN Money)
“Ford said Tuesday that its “Drive One” deal will cover up to 12 monthly payments of up to $700 each for purchasers who lose their jobs.”

Will Wagoner End Up At Nissan/Renault? (24/7 Wall Street)
“The next auto company chief likely to be fired is Carlos Ghosn who has run Nissan and Renault for a number of years. Nissan will post its first fiscal year loss in 10 years. That kind of performance was not tolerated by the boards of Toyota and Honda.”

Dollar Isn’t Going to Yield to Yuan Just Yet (Bloomberg)
“China’s idea of dumping the dollar as the world’s reserve currency has about as much appeal in today’s globalized economy as Esperanto. It might be a good idea, but nobody’s ready to buy it.”

American Adds to Web-Ready Planes (WSJ)
“American Airlines plans to equip another 150 planes this year with Internet service, in the latest sign that high-altitude Web surfing could become standard fare on domestic flights in a few years.”

Google moves into venture capital market (Daily Finance)
“The decision is particularly surprising because venture capital firms have signaled that 2009 has been and is going to continue to be a very bad year for investing in developing tech companies. But Google has the money.”

Google’s April Fools’ Gags: A History (Silicon Alley Insider)
“Could this year be joke-free? Will the recession, which forced Google to lay off hundreds of employees last week, have another victim?”

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