Bail out cost could be $1.5 Trillion

• The enormous scale of the financial crisis confronting the Obama administration will come into stark focus today when officials present a three-pronged rescue program that could top $1.5 trillion in public and private money as per: Hartford Courant.
• GM today, announced 10,000 job cuts for 2009
• Nissan net revenue down 34%, , net loss of $2.9 billion for last fiscal year. To cut 20,000 jobs worldwide.
• Gold rises on Inflation speculation
• Analyst predict 1000 plus bank will fail by 2014
• Dow
  8,179 -91.84
  Nasdaq
  1,580-11.75
  S&P 500
  857-12.64
  
• UBS reports $7 billion loss
• Senate heads for vote this week for huge stimulus package (nearly $800 billion)
• Dollar is up

Today's Marketwatch

Good

• Airline section gets boost from lower oil prices.

Bad

• But British Aiways swings to $124 million loss.
• US lost 598000 jobs in Jan. Market looks like 70s. Numbers confirm rate of job loss is acclerating.

Ugly

• Unfortunately there is more to come, as per some predictions
• Market botton not yet in sight.

Free Breakfast at Denny's

Good

• Free Grand slam breakfast at Denny's today from 6 am to 2 pm.


• Pending home sales surged from 6.3 percent to 8.77 percent in Dec, first increase since Aug. Reason: low mortage rates and low prices
• Merck posted an income of $1.6B as compared to a loss last year.
• Stocks stage rally ( 100+ points up). DOW surges 140 points.
• Buffet to buy $300 million of Harley Davidson debt.

Bad

• Auto sales worst since 1982
• Disney shares tumble.
• Motorola $3.6B quarterly loss.
• EA cuts 1,100 jobs