Online Trading and Investing Journal

SAN FRANCISCO—-Wells Fargo & Company said today it has completed its merger with Wachovia Corporation, effective December 31, 2008, creating North America’s most extensive distribution system for financial services with 11,000 stores, 12,260 ATMs, wellsfargo.com and Wells Fargo PhoneBankSM.
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The U.S. government on Wednesday paid out the first $4 billion in emergency loans to support General Motors Corp but a parallel rescue payment for Chrysler LLC was on hold until the new year.
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In this day and age of bank bailouts and economic chaos, it is indeed rare to find a financial institution that feels confident enough to refuse government money. Our PowerRating Spotlight stock this week is one such confident institution, The Bank of Hawaii.
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The dollar rose against the euro and the Japanese yen but dropped versus the pound in light trading on New Year’s Eve Wednesday.
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Wall Street saw a merciful end to a dreadful year Wednesday as stocks closed the last session of 2008 with a sizable advance.
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