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March 5th, 2009
10:05 PM ET

On the Radar

Cate Vojdik
AC360° Writer


On Friday morning, the government will release its official employment report for February. It’s expected to show a loss of another 650,000 jobs, pushing unemployment to nearly 8 percent.

A private report this week showed businesses of all sizes shedding jobs last month.

And don’t forget Thursday’s new wave of grim economic news: General Motors said its auditors believe its survival is in doubt; bank shares took a wicked beating, with Citicorp’s shares falling below a dollar; and a new report showed more than 11 percent of all mortgages are either delinquent or in foreclosure. Oh yes, the Dow fell nearly 300 points as well.

How much worse can things get? When will stocks recover? Who’s hiring and firing? And what does all of this mean for your wallet and your family’s future?

We’ll answer all these questions and more in our next CNN Money Summit, Friday on AC360.

Ali Velshi and a panel of some of the smartest money minds will hash over all the week’s economic news – including President Obama’s plan to help millions of homeowners reduce their mortgage payments.

The smart money talk starts Friday at 11 PM ET.

See you then!


Filed under: 360° Radar
soundoff (8 Responses)
  1. Heather,ca

    What I find amazing about the housing problem that Obama's plan was supposed to help is if you lose your job which people are left and right in this country, unless you have a big final paycheck or savings and excellent credit, the banks will not help you. You have to pay your mortgage first and wait for the unemployment or a job. Why is it that people who lost values in their homes who are employed are getting help yet every day people are losing their jobs and may not have savings but are current on their mortage and lost their jobs yet they get no help and are forced to put every penny into the mortgage and car payments etc? This isnt right.

    March 6, 2009 at 10:48 am |
  2. Michelle D . Fonthill. Ont

    Very sad news on GM this is heartbreaking for many people who are going to loose thier jobs.
    On a lighter note great caption Cate on the Beat 360 !
    Thank god it was only online edition .

    March 6, 2009 at 10:08 am |
  3. Michael "C" Lorton, Virginia

    Very troubling times in which the average American doesn't understand--and it would appear that no one has the answers.

    March 6, 2009 at 9:44 am |

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