March 2008

Hi everyone! It's me! I'm writing this blog from the Cayman Islands. I'm on vacation with my family, and we’re having a blast! I've never been here before. The water is crystal blue and nice and warm. Today is a little overcast so we are on our way to take our oldest two sons on a ride on a submarine. The submarine goes down between 80-100 feet. We are so excited!!! Did you know that 80% of ... read more

For the next 16 days, many employees around the nation will be preoccupied with March Madness -- and who could blame them?! Well…maybe their employers. According to estimates from Chicago-based global outplacement consultancy firm Challenger, Gray & Christmas, the March Madness obsession could cost employers as much as $1.7 billion in wasted work time during the tournament. People all over ... read more

GM’s Vice Chairman Robert Lutz is a superstar in the auto industry. He has been in the driver’s seat for the top three auto manufacturers -- GM, Ford and Chrysler -- and has more than a dozen brands under his belt.   Lutz was the mastermind behind Ford’s iconic Explorer and helped remake the Jeep Grand Cherokee. At Chrysler, he overhauled the product line with the Dodge Ram pickup truck ... read more

Did you know that Canadians account for more than half of all new home purchases in California, Texas and Florida? Yes, that's right, it's true! The strong Canadian dollar, (the looney) a declining U.S. dollar and weak housing prices due to the subprime mortgage mess have increased the appetite for Canadians to cross the border and buy real estate. What is adding to their appetite? An explosive ... read more

Did you see what happened to the price of gold yesterday? April gold futures were down $59 to $945.30 -- the biggest one day loss in two years. Last I checked, Gold futures were trading down another $31 an ounce. This, in reaction to the Fed's decision to cut interest rates by 75 basis points and a statement that noted an increased threat of inflation. Those bold words from the Fed have ... read more

Did you see Sen. Barack Obama’s speech yesterday on race relations? Whether you like him or not, plan to vote for or against him, I highly recommend you watch or read it. I have listened to a fair amount of speeches and thought this was his moment. His defining moment on the campaign trail! I was riveted and e-mailed many friends and colleagues. Some will argue that he did not denounce the Rev. ... read more

Did you ever meet someone and thought, “Wow, that guy is so impressive”? That happened to me today. Earlier this morning I interviewed a huge NFL star, Ovie Mughelli, a fullback for the Atlanta Falcons. To be very honest with you I didn’t know a thing about him, and yet I am a huge football fan. Last year in March 2007 he signed a six-year deal with Atlanta making him the highest paid ... read more

All I have to say are three things this morning. 1) Take a look at the pricing of the Visa IPO last night. The offering raised $17.9 billion dollars. It was priced at $44 dollars a share. The original price range for the 406 million shares was $37-$42. What does this tell us? The deal was oversubscribed which means more people wanted to buy shares then were available. In the world of public ... read more

This morning on The Opening Bell I interviewed Former Fed Governor and Director of Princeton’s Center for Economic Policy Studies, Alan Blinder. Take a look at the video below and the op-ed piece he wrote in this morning’s Washington Post.  On the show he told me that until last summer, most people hadn’t even heard of a subprime mortgage. “On a trend, it’s getting worse, not ... read more

Are we right back where we were 30 years ago? Take a look at this. According to Mark Bloomfield, the president and CEO of the American Council for Capital Formation, we may very well be. He thinks this environment is more reminiscent of the 1973-1975 period than the early 90s as some economists and strategists have suggested. He believes the “current triple whammy of asset deflation, ... read more