LyrArc Article Gist
Plans to let borrowers who would not be able to keep their home once the Alt A oans reset at a higher rate but who would be able to pay the interest at the initial teaser rate if allowed to do so is the group that is targeted for help. Treasury Department and a coaltion of lenders that Treasury has helped organize that would represent lenders and securitization interests are working out the details. The freeze could be for as long as 7 years. Those who can pay regardless of the increase in rates and those who should never have accepted the loan terms because of their finances would be excluded in this plan. About $352 billion of mortgage loans are due to reset in 2008. This should help the economy and homeowners and also the lenders as they also lose because foreclosures can be costly for lenders. The securitization interests who hold the mortgage securities are also represented and they benefit also because its better to get some interest than no interest at all.

LyrArc Article Gist
JD Powers surveys now lowers the 2008 forecast of USA auto sales to 14.95 million from its previous one of 15.7 million. General Motors has not revised its forecast and is hoping for a second half rebound thats extemely unlikely given that the economic situation is deteriorating. Auto loan delinquencies are rising and expected are tighter curbs in auto loans lending practices which combined with higher oil prices, fewer new models to get customers interested, and the increasing layoffs, is likely to lower sales down more than the JD Powers estimate. Chrysler has lowered its sales forecast but sales have already dropped off significantly for Chrysler and its in the midst of a major revamping.

LyrArc Article Gist
How unknown brand Vizio, started by a Taiwanese expatriate with equity ownership by suppliers of flat panels are bringing low priced flat panels to Costco and to American customers.

LyrArc Article Gist
British Prime minister Gordon Brown meets bankers from Merrill, Lehman and Chase JP Morgan, Thain, Fuld and Dimon to discuss issues relating to credit recovery, disclosure, valuation, and injecting funds into the market and passing on benefits to mortgage holders and urge banks to bring transparency and disclosure so that writeoffs from offbalance sheet activity can be taken quickly and openly. He is for coordinated international action and the British government is talking with the Bank of England on steps to calm the credit markets.

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CIA Director Michael Hayden's comments for the Landon Lecture at Kansas State University in Manhattan, Kansas.

LyrArc Article Gist
Toyota's Tundra plant in Texas looks to have come in at the wrong time. Its operating well below capacity and its hurting margins. Toyota sales in North America will decline by 188,000 according to forecasts for fiscal year ending March 2009.

LyrArc Article Gist
An poorly timed bet on the Tundra plant in Texas backfires on Toyota leading to sales and profit decline. A 28% decline in profit in the 1st quarter 2008. The $1 billion Texas plant that opened in 2006 is operating well below capacity as the bottom is falling off the large SUV market.