CNNMoney.com Market Report - Jan. 20, 2009
While most of the nation waxed poetic with the heady scent of BO in the air, and seemed excited to become RATs (Renew America Together), the market seemed less than thrilled. -332 and the first close below $8,000 for 2009.
Meanwhile, IBM reported earnings of $4.4 billion for the 4th QTR of '08 vs $4 billion for '07, and broke $100 Billion in revenue for '08 at $103 billion vs $98.8 billion in '07. So, apparently the economy isn't broken EVERYWHERE (yet).
Why is IBM "optimistic" for '09? Because a company that pulled in over $100 billion in revenue for '08 figures that it will get at least it's share of the lard due from BO in '09. Now isn't that special? I guess it is better to give the money to a company that is MAKING money rather than to those that are LOSING it like Detroit, but it still gives one pause.
Listening to the media in '07 and '08 it seemed that the only real issue was "recession or depression", yet here we have a major US company doing well in the teeth of what at least we are being told is "the worst economy since the depression". The winds of negativity at least took the spark out of the stock (and most every other stock), but somebody kept spending $100 billion and made it another good year.
I'm SURE that BO and his minions will straighten this all out -- quickly. Will Sam Palmisano be right and IBM will get nice hefty slabs of pork? or will BO and crew find some other companies maybe doing less well that maybe contributed more to his coffers or those of his party, and smile on them with a bank roll of many billions? I guess the message of to day is "the nation trusts him to do whatever he wants to do, and the media especially trusts him". Most people feel that is "good" -- the market is somehow "crooked", BO is straight -- let him decide who gets the funds, that is a better way.
So the Obamanation begins!
While most of the nation waxed poetic with the heady scent of BO in the air, and seemed excited to become RATs (Renew America Together), the market seemed less than thrilled. -332 and the first close below $8,000 for 2009.
Meanwhile, IBM reported earnings of $4.4 billion for the 4th QTR of '08 vs $4 billion for '07, and broke $100 Billion in revenue for '08 at $103 billion vs $98.8 billion in '07. So, apparently the economy isn't broken EVERYWHERE (yet).
Why is IBM "optimistic" for '09? Because a company that pulled in over $100 billion in revenue for '08 figures that it will get at least it's share of the lard due from BO in '09. Now isn't that special? I guess it is better to give the money to a company that is MAKING money rather than to those that are LOSING it like Detroit, but it still gives one pause.
Listening to the media in '07 and '08 it seemed that the only real issue was "recession or depression", yet here we have a major US company doing well in the teeth of what at least we are being told is "the worst economy since the depression". The winds of negativity at least took the spark out of the stock (and most every other stock), but somebody kept spending $100 billion and made it another good year.
I'm SURE that BO and his minions will straighten this all out -- quickly. Will Sam Palmisano be right and IBM will get nice hefty slabs of pork? or will BO and crew find some other companies maybe doing less well that maybe contributed more to his coffers or those of his party, and smile on them with a bank roll of many billions? I guess the message of to day is "the nation trusts him to do whatever he wants to do, and the media especially trusts him". Most people feel that is "good" -- the market is somehow "crooked", BO is straight -- let him decide who gets the funds, that is a better way.
So the Obamanation begins!
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