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米GMとフォード株、急落 資金繰り懸念
GM, Ford Shares Fall on Cash Concerns (WSJ.com)
General Motors Corp. and Ford Motor Co. saw their share prices plunge on Thursday as concerns grew that the struggling auto makers may not have enough cash to survive the deepening downturn in the U.S. economy.
General Motors closed down 31%, or $2.15, at $4.76, and Ford fell 22%, or 58 cents, to $2.08, in New York Stock Exchange composite trading. GM, which hit an intraday low of $2.26, its lowest point since 1951, ended the day with a market value of $3.9 billion to Ford's $6 billion.
The steep declines came amid a broad selloff in stocks that caused ...
share: 株
to plunge: 急落する
as: ～につれて
カリフォルニア、アメリカの未来を写す鏡
First Into Recession, California Shows Possible Future for U.S. (WSJ.com)
Here's the latest trend that started in California and is spreading to the rest of the country: recession.
It's all but certain the U.S. economy is in a recession, as falling home prices and Wall Street turmoil have put the brakes on consumer spending and stoked unemployment. But California got there first. Now, the state provides a template of how a broad U.S. downturn could look.
With its export businesses, manufacturing sector, professional services and big retail employers, California looks like many other U.S. states, only more so. California's $1.8 trillion economy -- twice the size of India's and accounting ...
recession: リセッション、景気後退
only more so: それ以上である
米金融救済、国民の支持と金融機関の協力が不可欠
Rescue Was Sold Softly to the Street (WSJ.com)
WASHINGTON -- As the biggest market intervention in U.S. history made its way through Congress, Neel Kashkari, the Treasury official named this week to run the program, offered assurances to 800 financial-industry players.
Attempts by Congress to make beneficiaries pay for their mistakes, such as placing caps on executive pay, were "quite reasonable" and "a pretty modest hindrance to you," he told them, according to a recording of the Sept. 28 conference call made public on video-sharing Web site YouTube.
The exchange is a rare inside look at conversations between government officials and industry representatives who help shape government policy. To win approval for the rescue package, Treasury had to agree to a number of conditions imposed by lawmakers, such as the pay caps and moves to help homeowners. But to succeed, Treasury must also win the support of institutions healthy enough to revive faltering capital markets.
to sell softly: ～を低調に売り込む
Neel Kashkari: ニール・カシュカリ氏、金融安定化法に基づく不良資産買い取り業務の責任者
to place caps on executive pay: 経営者の報酬を制限する
pretty modest hindrance: 非常に小さな障害
アイスランド、金融物語の終焉 海に帰る日が近い
As Banking 'Fairy Tale' Ends, Iceland Looks Back to the Sea (WSJ.com)
Fishing sustained the rugged and remote island of Iceland for centuries. But just a half-dozen years ago, Icelanders discovered that vast fortunes could be made in high finance. They took to the new business with all the zeal and fearlessness of their seagoing past, lending abroad with speculative fervor. The banks quickly swelled to a size that dwarfed the economy of some 300,000 Icelanders back home.
Within a few years, Iceland's three big banks -- Kaupthing Bank hf, Landsbanki Islands hf and Glitnir became highly leveraged, like other now-troubled banks. The banks' assets reached €100 billion, about 10 times the country's gross domestic product last year, and their foreign depositors have come to far outnumber the island's population.
Today, Iceland's swollen banks are ruined. In the space of a few days, practically the entire banking system has been seized by the government. The largest bank of all, Kaupthing Bank, was seized Thursday, and trading was suspended on the stock exchange until Monday. The krona has ceased functioning as a currency outside Iceland.
fairy tale: おとぎ話
zeal and fearlessness of one's seagoing past: 海洋民族としての情熱と勇敢さ
to outnumber: ～を上回る
swollen: 肥大した
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