Late-breaking market reports in a MultiCultClassics Monologue…
• Not to be outdone by other failing banks, National City reported 3Q losses at $5.15 billion and announced plans to cut 4,000 jobs. Looks like National City should have charged fees after all. Lots and lots of fees.
• Apple reported a 26 percent profit jump, spiked by iPhone sales. Ironically, the PC character is doing quite well financially.
• Yahoo! saw 3Q profits drop 64 percent, prompting the decision to cut 1,500 jobs. First, Washington Mutual had to stifle its Whoo hoo! Now, there’s uncomfortable silence from Yahoo! Quick, somebody check on Yoo-hoo!
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