Bullish Blog

The one-time Chrysler savior and American business icon is losing the perks he won after securing a government loan guarantee in 1979 that pulled the automaker back from the brink of bankruptcy.

AP - Saying his client is not a “crook,” the lawyer for the former head of Kmart Corp. is asking jurors to clear him of civil fraud charges in a case filed by the federal government.

AFP - Shares in London ended the session on firm ground Friday hoping that the worst of the global economic crisis is over.

AP - Wall Street sealed the third month of its spring rally with a huge advance. The fourth month looks a little less certain.

BusinessWeek Online - Cebu, Philippines - Painful economic slowdowns are nothing new to Southeast Asia. The region went through its own gut-wrenching financial crisis more than a decade ago in what now seems like a dress rehearsal for today’s turmoil. Companies defaulted, banks collapsed, stock markets tanked, and economies shrank at double-digit rates as foreign investment slowed to a trickle. But Southeast Asia dutifully swallowed the bitter pill of austerity, devaluing currencies and working off debt while banks restructured and companies patched up balance sheets.

Reuters - OPEC Secretary-General Abdullah al-Badri said on Friday he saw oil prices at $70 to $75 a barrel by the end of the year, making him the latest official from the group to predict the current rally will persist.

Reuters - Stocks rose on Friday, capping their third straight monthly advance, as rising commodity prices lifted shares of natural resource companies, while a sliding dollar boosted the allure of multinationals, including Coca-Cola Co .

AP - Asian stocks climbed Friday as Japanese industrial production jumped at its fastest pace in 56 years and India’s economic slowdown eased, reassuring many investors about a global recovery. European stocks opened higher.

The global economic slide has combined with increased retail competition to pressure the glamorous industry, forcing many stores to consider closing.

How has the legendary investor reacted to the swings in the market? SEC filings reveal the recent portfolio tweaks by his company, Berkshire Hathaway.