| StreetInsider.com - Insiders' Edge |  | | Jerry York Said $25B In Auto Loans Is Not Enough | ![]() | On Bloomberg TV, Kirk Kerkorian adviser and former auto executive, Jerome York, said the $25 billion in loans the automakers are asking Congress for is not enough. In fact, York said "I don't think it is close."
York said General Motors (NYSE: GM), Ford (NYSE: F) and Chrysler may need $40 billion. He also said the automakers' lending arms may need an additional $100 billion in government aide.
York also said compensation and bonuses should be cut at the auto companies and the UAW workers may need to accept job cuts. He also said GM's market share may need to fall to 16% to 22%.
Tomorrow, the automakers will be submitting detailed plans to Congress on how they will use the federal money to resurrect the struggling industry.
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| Insider Trade of the Day - Zale Corp (ZLC) Zale Corporation (NYSE: ZLC) sees insider buying. Director Richard Breeden bought 1,000,000 shares on 11/26, CEO Neal Goldberg bought 15,000 shares on 11/26, CFO Rodney Carter bought 15,000 shares on 11/26, Director Thomas Shull bought 3,000 shares on 11/26, VP Gilbert Hollander bought 10,000 shares on 11/26, President Theo Killion bought 2,500 shares on 11/26, Director Yuval Braverman bought 2,000 shares on 11/26, Director Charles Sonsteby bought 5,000 shares on 11/26.
Shares of Zale closed at $5.01 today, a new 52-week low. The 52-week high is $30.89.
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| | Upgrade To Watch - Time Warner (TWX) Sanford C. Bernstein upgrades Time Warner (NYSE: TWX) from Market Perform to Outperform, citing strength in the company's cable television division.
The firm said Time Warner's cable network is best positioned to take share from broadcast TV More Upgrades: http://www.streetinsider.com/Upgrades FREE Upgrade RSS: http://www.streetinsider.com/freefeed.php?cid=9 |  | | 
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