Opening Bell: 04.14.09

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GM Recalls 1.5 Million Vehicles (WSJ)
The idea, of course, being not to kill American Taxpayers, as that's their chief source of income now. But, in related news (and far less morbid), it appears the New York auto show has become ground zero for hecklers.
You Have To Love Bloomberg (NYT)
While the rest of the world is on a public sponsored field raping of the financial industry, Bloomberg has pretty clearly declared his appreciation for the affluent.
"Mr. Bloomberg, a billionaire many times over, has also vouched for vilified Wall Street titans like Richard S. Fuld Jr., the former chief executive of Lehman Brothers.
"There's Lehman Brothers, who I feel very sorry for," he said during a news conference. "Dick Fuld, I've known for 40 years, who's a competent guy, and people are criticizing him. They didn't criticize him when things were going well for an awful lot of years.""
Economics Predict September Turnaround (WSJ)
The chief concern going forward (according to the poll) will be unemployment, which won't fully recover for some time.
"Even when the economy stops shedding jobs, the unemployment rate is likely to remain elevated for some time. "The unemployment rate isn't going to recover, because you have to get back everything you lost and then some," said Joseph Lavorgna of Deutsche Bank Securities Inc. He estimated that the economy would have to grow an average of about 4% for six years to get back to the sub-5% unemployment rates seen in 2007."
UBS Cuts 3% Of Asia-Pacific Staff (Reuters)
"A UBS spokesman in Hong Kong said on Tuesday the bank will cut 240 jobs, all in the wealth management business. Banking sources said they included 100 redundancies in Singapore, where UBS is a relatively strong player in private banking."

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