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September 11th, 2009
11:00 AM ET

Financial Dispatch: 9/11 Day of Service

Friday marks the eighth anniversary of the September 11 terror attacks that killed 2.752 people.

Friday marks the eighth anniversary of the September 11 terror attacks that killed 2.752 people.

Gene Bloch
Managing Editor
CNN New York

On this eighth anniversary of the September 11th terror attacks, as we remember the 2,976 people who died, we have the story of a trading firm that donates 100 percent of its profits on this day to charity. For the last five years, BGC, a firm spun off from Cantor Fitzgerald which lost 658 employees at the World Trade Center, has made the 9/11 anniversary a day of service. Susan Lisovicz is reporting on Newsroom and from the NYSE later today.

We’re looking ahead to another anniversary, marked next week – the collapse of Lehman Brothers. CNNMoney’s sister publication, Fortune Magazine, got special access to some of the people in the highest offices on Wall Street at the time of the collapse. We’ll share some of what they remember, what they say has changed, and what they’ve learned.

On the economic front, Monday will be a big day – as we mark the one year anniversary of the collapse of Lehman Brothers (note, the actual anniversary is Sept 15), President Obama will deliver what the White House is billing as a major speech on the financial crisis at Federal Hall in New York. He’s expected to discuss the steps that the Administration has taken to boost the economy, and steps that need to be taken to prevent such a crisis from reoccurring.

Consumers grew more optimistic in September. The Reuters/University of Michigan Survey reported an increase in its sentiment index.

General Motors is offering consumers something unique – if you don’t like your GM car, return it and get your money back. GM, in a bid to appeal to consumers upset about decades of poor quality and the carmaker's government bailout, is launching money-back guarantees. Between Sept. 14 and Nov. 30, buyers will be able to return Buick, Cadillac, Chevrolet or GMC products within 60 days if they don't like them. Such programs are commonplace in other businesses, but not for cars. CNNMoney has the story.

Gas prices rose for a second straight day, with AAA reporting the national average for a gallon of regular unleaded at $2.580, up four tenths of a cent.

On CNNMoney today:

Word on the street: No job prospects. The economic picture has started to improve, but those out of work see no recovery in sight.

Buy a new General Motors car. Don't like it? Return it and get your money back. General Motors, in a bid to appeal to consumers upset about decades of poor quality and the carmaker's government bailout, is launching an unusual program: money-back guarantees. Between Sept. 14 and Nov. 30, buyers will be able to return Buick, Cadillac, Chevrolet or GMC products within 60 days if they don't like them. Such programs are commonplace in other businesses, but not for cars.

Chrysler is preparing to resume auto leasing, according to a dealer briefed on the plans, more than a year after the auto maker was forced out of the business and three months after it emerged from bankruptcy. Chrysler now relies on GMAC for its dealer financing.

Lend to family the right way. A loan to a relative can actually be a sweet deal for both sides, if it's served up correctly.


Filed under: Economy • Finance • Gene Bloch • September 11th Anniversary
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