Don't expect to get this kind of update everyday-I'm just in a blogging kinda mood as it is rainy and muggy here in South Florida. Here's some more for ya: Next up! UPS-What can Brown do for itself? UPS lowers Q1 guidance to $.86-$.87 vs $.93, which was already down from a previous $.94-$.98! I guess the good word from "Old Brown" was "The U.S. economy has continued to weaken, causing a reduction in domestic package volume and a shift away from premium products. Significantly increased fuel costs in the quarter also contributed to the lower-than-expected results." Financial Times is reporting Citigroup is close to a deal to sell $12 bln loans to private equity -<>lol! PMI, an approved Freddie Mac insurer, informed FRE today that it was down-graded by Standard and Poor's from AA to A+. Freddie Mac allows insurers 90 days to send them a remediation plan that will in effect, restore their rating to AA-, given that they notify FRE within 24 hours of the downgrade and state their intent to submit the plan to restore their credit rating. Freddie Mac uses private insurers to cover the risk of loans that FRE may purchase when the buyer puts down less than 20%. It's FRE's decision as to whether or not to accept or modify t PMI's plan-as I understand it. Here's my take on the gist of PMI's plan: "Dear Unkle Ben (Commandant)-please give us, uuhhh, aaaheeemm, we mean, please kindly lend us "X" Billion dollars so that we may continue to insure FRE's no-doc, no-income loans that were financed with less than interest only, 3-year, 18% balloon loans with no money down and a free Fridge at closing-so that we may prevent a complete meltdown of anything resembling a financial institution, Thanks a Bunch!"