Last week was an interesting one – the BCE deal was finally declared dead after a rather bizarre solvency ruling by KPMG. From what I understand the solvency test was very strict which seems a bit odd considering that BCE is a pretty solid company.
The auto bailout which I talked about this week – – got rejected by Congress – apparently one of the stumbling points was the reluctance of the union to take a pay cut until 2011. Hellooo!! Your company is about to run out of money….idiots!
Luckily for the unions and companies – Bush decided to throw in a few billion to save the bailout. This hasn’t been finalized yet, but I suspect it’s just a matter of time. Canada of course has to toss some pesos into the bonfire as well so we are going to donate about $3.5 billion of tax money which of course is only a “loan” or maybe it will be “equity”? Either way that money is gone – and probably so to are all the Canadian jobs once the car companies emerge from their eventual bankruptcy.
180.0 – went running twice last week and did ok on the diet.
Rest of the links
Green Panda did a 4-part series on how to have a classy dinner party – this is part 3 – the main meal.
Million Dollar Journey celebrates a second anniversary – congratulations on such a great blog! He’s giving away some great prizes like cameras, cars….ok not the cars. Go check it out and comment.
Squawkfox has an amusing post on a rather funny pr email she got pitching a shredder to “get rid of your credit card bills“. Very amusing and quite sexist as well.
Financial Blogger had an amusing post asking why Brit government bonds are less trustworthy than those of McDonald’s? It’s not because of the food!
Free From Broke hosted the Carnival of Personal Finance.
Carnival of Financial Planning was hosted at the Skilled Investor.