Money Minute: Ally's IPO; Greenpeace Wants a 'Cleaner Cloud'

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Another success story from the federal bailout during the financial crisis.

Ally Financial is alive only because a $17 billion taxpayer bailout. And Thursday's initial public offering cuts the government's stake in the company in half to about 17 percent, as the Treasury captures nearly $2.4 billion in proceeds. Before being spun off from General Motors (GM) a while back, the company was known as GMAC. It's making money now, but still has lots of debt. As for taxpayers, we've now made a profit on the bailout of the company.

Activists from the environment action gr
Jack Guez, AFP/Getty ImagesGreenpeace activists hold signs in English and Hebrew as they protest in front of the main offices of Microsoft in Herzliya, Israel, in 2012.
Internet companies are generally considered cool and socially responsible, but the environmental group Greenpeace says Twitter (TWTR) and Amazon.com (AMZN) are among the "dirtiest" companies when it comes to energy use. It claims both have done a poor job of reporting their energy and environmental footprint. However, Greenpeace says Apple (AAPL), Google (GOOG), Facebook (FB) and others have done a good job in using renewable energy.

Walmart (WMT) is going organic. The company is already the nation's largest grocer, and now it's moving to dominate the growing market for organic products. Walmart's line of Wild Oats organic products will cost about 25 percent less than competitive brands -- making them comparable to non-organic items.

Here on Wall Street, the Dow Jones industrial average (^DJI) rallied 181 points on Wednesday, the Nasdaq composite (^IXIC) jumped 71 and the Standard & Poor's 500 index (^GPSC) gained 20 points.

PC sales fell for the eighth straight quarter, as more and more consumers depend on tablets and other devices. The data tracking firm IDC says PC shipments fell by more than 4 percent compared to a year ago, but that's actually better than expected. Some corporate buyers replaced aging PCs that were still running on Windows XP, which Microsoft (MSFT) stopped supporting earlier this week.

Finally, a survey by Visa (V) finds that prom spending by teens and their families is expected to fall by 14 percent from last year. It's still a major expense though. The average price for the tux or gown, the limo, tickets and dinner: a whopping $978.

-Produced by Drew Trachtenberg.


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nsheats

It looks like the choice to bail out the more reliable of the banks was a good one. As we move on down the line it looks like the government will make some money on that decision IF they keep a steady eve on Americas financial institutions.

April 10 2014 at 3:33 PM Report abuse rate up rate down Reply
bakerjohn01

In reference to the Government bailout that helped GMAC now know as ALLY Financial, it is good that the tax payer money will be returned to the Fed. Problem is that this money and hundreds of billions that have all ready be paid back should have straight toward paying down the national debt. Let's remember that our current President was among those who supported the TARP fund which created more than $800.00 Billion in new debt with the understanding that that money would only be used to save the economy and the financial sytem and no other purpose. This was at the time a very necessary thing to do. But Ask yourself if you really beleive that any of the more than $600 Billion (inclusive of some so call profits) which has been repaid to date by the many banks etc. to the Fed. has actually paid down our national debt. You will find that the reality is that our Government has allowed this money to be spent for other things instead of paying down the national debt as promised. We the people at the time were told that our support was needed to give our politicians the authority to create this new record single act of debt for the intented TARP fund only. Government as usually, we all need to wake up before it is to late.

April 10 2014 at 3:16 PM Report abuse rate up rate down Reply
crazy ray

Yeah, Apple's done for increasing the slave-labor footprint in China.

April 10 2014 at 12:02 PM Report abuse rate up rate down Reply
Dave

The "Bailout" was done with taxpayer money and because I am a net taxpayer(actually pay after all give backs), I should get a portion of this supposed profit we made.

April 10 2014 at 11:57 AM Report abuse -1 rate up rate down Reply
Larry

One of the dirtiest industries of all is the manufacture of electric car batteries.

April 10 2014 at 11:38 AM Report abuse +1 rate up rate down Reply
joey

Get a Life!!!!!!!!

April 10 2014 at 10:43 AM Report abuse rate up rate down Reply