Samuel Watkins, one of Manhattan realtors, stated: “Sales were off by 50-55% because of the weak economy, high unemployment and, most important, the credit crunch.” The once thriving real estate market in New York’s prestigious Manhattan district has experienced a heavy blow in the last three months. Sales have gone down by 50% and prices have continued to sink, leaving owners little hope to sell their apartments for a nice...

From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression – and they’re about to do it again By MATT TAIBBI The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells...

NEW YORK (AP) — General Motors Corp. said Tuesday that it has tentatively agreed to sell its Hummer brand, a day after the U.S. automaker filed for bankruptcy protection with hopes that it will transform its most profitable assets into a new company within just 30 days. The Detroit-based company did not name the proposed buyer or the price, but said the sale will likely save more than 3,000 U.S. jobs in manufacturing, engineering and at...

While Monday will be seen by many as “the day General Motors went bankrupt,” the filing did not include most of the company’s massive operations that sprawl the globe. Not only did GM Canada dodge a filing, all of GM’s operations are expected to continue without interruption in Europe, Latin America, Africa and the Middle East, and Asia Pacific regions. Here’s a look at where the company is producing, selling...

http://www.governmentmotors.com/ Here is the new web-site for Government motors ; Enjoy!

NEW YORK (AP) — General Motors entered Chapter 11 bankruptcy protection Monday with a near-complete plan to quickly emerge and potentially become profitable again, having already nailed down deals with its union and bondholders and arranged to sell off some brands and most of its Opel operations in Europe. GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said...

After former Bear Stearns Cos. trader Guy Irace lost his job on the bond desk a year ago, he moved back to Long Island to teach high school math and dropped 40 pounds. Jack Yang’s deli in Manhattan cut three employees. Cavonberry’s, Yang’s 46th Street shop near the headquarters of the New York firm taken over by JPMorgan Chase & Co., once bustled with finance workers jostling to buy a barbeque chicken chopped salad and bottled...

As a way of getting your husband’s attention, it is difficult to better: a couple of days ago Veronica Lario wrote an email to a national news agency detailing exactly what she thought of her spouse’s latest antics, and pointedly dissociating herself from them. As she is married to Silvio Berlusconi, the Italian prime minister, that country’s press has since talked of little else. Lario was reacting to reports that he was...

“Gold Isn’t Going To $2,000 An Ounce” is both the headline and the announcement of Jeff Clark at CaseyResearch.com, a conclusion he apparently reached after he “decided to take a fresh look at calculations that could be used to appraise gold’s upside potential.” Confirming rumors that I am “always disagreeable,” I am absolutely sure that gold will soar in price, as in To The Freaking Moon (TTFM), as a result of the fiscal...

Nothing like peeling a Band-Aid off slowly… The Treasury concluded its painstaking six-week stress tests late yesterday and announced (gasp) the 19 American banks under stress need to raise $75 billion if they plan to stay in business. Ten of the 19 banks under TARP “protection” will be REQUIRED by the U.S. government to raise capital. They include: Bank of America, Citi, PNC, Fifth Third, GMAC, Wells Fargo and others. Notably absent...

It does not make sense to waste your money buying new when there is such a huge market of gently used items that are just as good as new–for a fraction of the price. Here are the top 9 things you will be better off buying used: Timeshares. Most people I know regret having purchased a timeshare new. No wonder. They are guaranteed to lose 30 to 70 percent of their value right off the bat, says Liz Pulliam Weston, MSN columnist. If you...

“Substantial doubt,” say auditors at Deloitte & Touche. They’ve been studying GMs figures. The numbers make them wonder whether the automaker can continue as a “going concern.” The world is full of car factories. Most of them can make cars better, faster, and cheaper than GM. Meanwhile, demand for autos is not growing as quickly as the global growth in auto-making capacity – especially in America.Let the Mr. Market do...