Banking giant reports $2.5 billion loss, but results are not as bad as analysts had feared.
Stock jumps in pre-market trading.
Congratz!
(it was probably this mother that ran into another nuclear sub without maritime insurance)
A navy plane spotted the craft about 140 miles south of the tourist resort of Huatulco, setting off a three-hour chase, Rear Adm. Hector Mucharraz told Reuters.
The green-colored submarine, carrying what was believed to be cocaine, was about 32 feet long and appeared to be a makeshift or modified vessel.
"The submarine traveled almost at the surface of the sea and when it came up we took advantage," said Capt. Benjamin Mar, a navy spokesman. Special forces troops swooped on the submarine from a helicopter and subdued the crew of four, he said.
The Mexican government is increasingly using the military to fight drug smugglers who move South American cocaine through Mexico and into the United States.
President Felipe Calderon has sent thousands of troops to drug trafficking hot spots since he took office in December, 2006.
Smugglers have moved drugs in Mexico through tunnels under the U.S. border and hidden in canned food and dolls, but the navy said this is the first time it had seen them use a submarine.
The green-colored submarine, carrying what was believed to be cocaine, was about 32 feet long and appeared to be a makeshift or modified vessel.
"The submarine traveled almost at the surface of the sea and when it came up we took advantage," said Capt. Benjamin Mar, a navy spokesman. Special forces troops swooped on the submarine from a helicopter and subdued the crew of four, he said.
The Mexican government is increasingly using the military to fight drug smugglers who move South American cocaine through Mexico and into the United States.
President Felipe Calderon has sent thousands of troops to drug trafficking hot spots since he took office in December, 2006.
Smugglers have moved drugs in Mexico through tunnels under the U.S. border and hidden in canned food and dolls, but the navy said this is the first time it had seen them use a submarine.
Thursday, July 17, 2008, Missouri and Michigan
10:00am CT Depart Omaha, NE
10:55am CT Arrive Kansas City, MO
11:30am CT Town Hall Meeting, Union Station
1:00pm Local Media Interviews; 2:15pm CT Depart Kansas City, MO
4:50pm ET Arrive Muskegon, MI; 6:00pm Finance Event, Ferrysburg, MI
7:45pm Depart Muskegon, MI; 8:40pm Arrive Detroit, MI, Overnight
Friday, July 18, 2008, Michigan
9:00am Tour & Employee Town Hall Meeting, GM Technical Center
10:45am Local Media Interviews; 12:00pm Finance Event;
2:10pm ET Depart Detroit, MI; 3:45pm ET Arrive Newark, NJ 4:15pm Phone Media Interview
4:45pm Interview Late Night with Conan O'Brien
Overnight, New York City....
...Saturday, July 19, 2008, New York
10:00am Media Interviews
12:35pm Depart for East Hampton by Helicopter; 1:15pm Arrive East Hampton.
6:00pm Finance Event; 7:45pm Finance Event
9:30pm Return NYC, Overnight.
Lou Dobbs Death by Chocolate Late Last Night