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米GM株、23％下落 62年来の安値、懸念される資金繰り悪化
GM's Shares Tumble on Rising Cash Concerns (WSJ.com)
General Motors Corp.'s shares Monday plummeted to a price it hasn't seen since 1946, on rising concerns the auto maker will run out of cash in the next few months and that any government bailout won't be beneficial to shareholders.
Shares of GM fell 23% to $3.36, after earlier hitting a 62-year low of $3.02, as analysts at both Barclays Capital and Deutsche Bank cut their target prices and investment ratings on the stock.
Barclays now targets GM shares at $1, while Deutsche Bank slashed its target price to zero.
Jeff Embersits, chief investment officer of Shareholder Value Management, said GM's freefall reflects investors' growing concern about the company's liquidity, and how little faith the market has in the benefits that a government bailout would have for shareholders. Another problem with the potential bailout, Mr. Embersits added, is that it may cause foreign auto makers to ask their governments for similar aid. If this occurs, it will wash out the benefits of any aid to GM.
cash concerns: 資金繰り悪化の懸念
target price: 目標株価
to wash out: ～を損なわせる
米AIGへの公的支援見直し、1500億ドルに拡大 民主党議員の反発を招く可能性
U.S. Throws New Lifeline to AIG, Scrapping Original Rescue Deal (WSJ.com)
The U.S. government unveiled a plan Monday to scrap its $123 billion bailout of American International Group Inc. and replace it with a new package worth around $150 billion.
While the arrangement stands to considerably ease terms on the faltering insurer, it gives the government an unprecedented role as an actor in financial markets. It could also spark a political backlash, especially from congressional Democrats, because the Treasury, while adding to its AIG obligations, has thus far refused to extend a hand to the struggling Big Three auto makers.
The details of the revised deal were announced as the company ...
unprecedented role: 前例のない役割
political backlash: 政治的反動
米スターバックスの７－９月期、純利益97％減 店舗閉鎖コスト響く
Starbucks 4Q profit drops 97 pct on closure costs (CNBC.com)
NEW YORK - Fewer U.S. customers and venti-sized costs for closing poorly performing stores led to lower sales and profit in the fourth quarter at Starbucks Corp., the company said Monday.
Seattle-based Starbucks said profit fell 97 percent to $5.4 million, or a penny a share, from $158.5 million, or 21 cents per share, a year earlier. The coffee retailer earned 10 cents per share when the costs from closing about 600 stores in the U.S. and 61 locations in Australia are excluded.
Starbucks began shutting the U.S. and Australian stores this summer as part of a campaign to reverse slowing sales and falling profits at the company. That turnaround began at the start of the year when former Chief Executive Howard Schultz took back the reins of the company to again fill the CEO and chairman posts.
But all the changes did little to boost sales in the fourth quarter, particularly in the U.S, where the turmoil in the economy during the summer months took a gulp out of consumer spending.
penny: セント
21 cents per share: １株あたり21セント（EPS）
to reverse slowing sales: 売上低迷を脱する
米オバマ次期大統領、大統領令解除で迅速に公約実現へ ユタ油田採掘阻止、幹細胞研究に資金供給
Obama Is Likely to Use Executive Power To Halt Drilling, Fund Stem-Cell Work (WSJ.com)
President-elect Barack Obama will likely use his executive powers after taking office to block new drilling leases on environmentally sensitive land in Utah and to allow federal funding of stem-cell research, putting a quick mark on policy making.
"There's a lot the president can do using his executive authority without waiting for congressional action," John Podesta, head of Mr. Obama's transition team, said on "Fox News Sunday."
Mr. Podesta said Mr. Obama is "a transformational figure" and that the support he received among voters in some Republican states and conservative counties gives him a mandate to pursue his agenda aggressively.
Rolling back executive orders issued by the Bush administration could give Mr. Obama a fast way to put his mark on policy making after he takes office, as past presidents have. Other Bush-era executive orders that Mr. Obama could reverse include a ban on federal aid to family-planning organizations that counsel women on abortion, and a decision in December that restricts California in regulating greenhouse-gas emissions from cars.
executive power: 行政権
stem-cell research: 幹細胞研究
to roll back an executive order: 大統領令を解除する
米シティ、地方銀行買収に向け交渉中
Citigroup in Talks to Buy a Bank (WSJ.com)
Less than a month after walking away from Wachovia Corp., Citigroup Inc. is in discussions to acquire another U.S. bank, according to people familiar with the situation.
The target's name couldn't be determined, but it is a regional bank that overlaps geographically with Citigroup's retail-banking unit, which has its highest concentration of branches in the Northeast, California and Texas. A deal could be reached later this month, the people said.
With Wachovia racing to complete its purchase by Wells Fargo & Co., any acquisition by Citigroup could feel like a consolation prize, because none of the remaining sellers among U.S.
regional bank: 地方銀行
consolation prize: 残念賞
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