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Janet Reuther-Schopp doesn’t like to remember what happened to Reuther Automotive Group three years ago this week.

Her family’s 53-relationship with the Chrysler and Jeep brands came to an abrupt end during Chrysler’s government-orchestrated bankruptcy. Thinking about it still makes Reuther-Schopp sad and angry, so she’d rather talk about the positive things that have happened since May 14, 2009.

Many such “takings” suits are thrown out quickly, but a judge has already rejected the government’s attempt to dismiss this one. It’s now in the discovery phase, and Bellavia says he believes that emails and other documents from the federal automotive task force will bolster his case.

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Home Depot says its fiscal first-quarter profit climbed 27.5 percent as warmer weather brought consumers out for spring gardening and lawn products.

The world’s biggest home-improvement company also boosted its 2012 financial outlook Tuesday, citing its year-to-date performance.

But the Atlanta retailer’s quarterly revenue results and its full-year revenue guidance fell short of analysts’ expectations. Its stock dropped 3 percent in premarket trading.

Home Depot Inc. reported net income of $1.04 billion, or 68 cents per share, for the period ended April 29. That’s up from $812 million, or 50 cents per share, a year earlier.

The latest results beat the 64 cents per share that analysts polled by FactSet expected.

“We saw a stronger-than-expected start to the year, driven by record warm weather and continued demand for core products,” Chairman and CEO Frank Blake said in a statement.

Revenue rose 6 percent to $17.81 billion from $16.8 billion. But that missed Wall Street’s estimate of $17.89 billion.

Home Depot’s shares fell $1.50, or 3 percent, to $48.38 ahead of the market opening.

Revenue at stores open at least a year rose 5.8 percent, with the metric climbing 6.1 percent for U.S. locations.

This figure is a key indicator of a retailer’s health because it excludes results from stores recently opened or closed.

The company expects fiscal 2012 earnings of $2.90 per share, with revenue up about 4.6 percent. This implies revenue of approximately $73.66 billion. Home Depot previously predicted earnings of about $2.79 per share and a 4 percent revenue increase.

Analysts had expected earnings of $2.90 per share on revenue of $74.06 billion.

Home Depot has 2,254 stores in 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China.

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Search teams found at least 10 bodies Friday near where a Russian-made jetliner crashed into the side of an Indonesian volcano while on a demonstration flight for potential buyers from airlines, an official said.

All 45 aboard the Sukhoi Superjet-100 are feared dead.

The search team used ropes to climb up to the wreckage on the near-vertical slopes of Mount Salak, search and rescue agency spokesman Gagah Prakoso said. The 10 bodies they found are being prepared to be transported from the crash site by helicopter.

Local television showed what appeared to be the plane’s tail with the blue-and-white Sukhoi logo, part of a wing and bits of twisted metal scattered along the slope like confetti.

The jetliner slammed into the dormant volcano Wednesday at nearly 800 kph (480 mph). Russian and French investigators have arrived to join the ongoing investigation into the cause.

The Superjet-100 is Russia’s first new model of passenger jet since the fall of the Soviet Union two decades ago and was intended to help resurrect its aerospace industry business cards.

The ill-fated Superjet was carrying representatives from local airlines and journalists on what was supposed to be a 50-minute demonstration flight. Just 21 minutes after takeoff from a Jakarta airfield, the Russian pilot and co-pilot asked for permission to drop from 10,000 feet to 6,000 feet (3,000 meters to 1,800 meters). They gave no explanation, disappearing from the radar immediately afterward.

It was not clear why the crew asked to shift course, especially since they were so close to the 7,000-foot (2,200-meter) volcano, or whether they got an OK, officials have said.

Communication tapes will be reviewed as part of the investigation, but it’s unlikely they will be released to the public any time soon.

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ORLANDO, FLA.

The first time I wrote about Sean Egan and his small, independent credit-research firm, Egan-Jones Ratings Co., was in December 2007 for a column about the bond insurer MBIA Inc. And man, did he nail it.

The three big credit raters — Moody’s Investors Service, Standard & Poor’s and Fitch Ratings — all had AAA ratings on MBIA’s insurance unit, their highest grade. Egan said it deserved much lower. Anyone reading MBIA’s financial reports could see the company was losing money and needed billions of dollars of fresh capital.

By mid-2008, the Big Three had cut their ratings. Once again, Egan, a lonely voice of reason who saw the financial crisis coming, had shown his larger competitors to be incompetent or compromised. It was one of many great calls to come for Egan-Jones. As for MBIA, which had no revenue last quarter, it’s still struggling.

So if you had told me back then that the Securities and Exchange Commission’s enforcement division more than four years later would be accusing Egan, and his firm, of securities-law violations — but not any of the big rating companies — there’s no way I would have believed you. That’s what happened last week, though.

Life isn’t fair, as they say. The big raters, paid by the issuers of securities they grade, so far have gotten a pass, even after helping cause the financial crisis by slapping AAA scores on oodles of subprime-mortgage dreck. Egan-Jones, with fewer than 20 employees, makes its money by selling subscriptions to investors, meaning it’s not beholden to issuers. Yet Egan and his firm are getting pinched, although nothing in the SEC’s administrative complaint indicates investors were harmed.

None of this is to excuse infractions Egan-Jones might have committed. We will have to wait and see if the agency’s claims stick in court. That said, it seems Egan-Jones’ mistake was to seek recognition from the SEC at all.

The allegations mainly concern the application Egan-Jones filed with the agency in 2008 to expand its license as a so-called nationally recognized statistical rating organization. The firm, based in Haverford, Pa., first received that designation in 2007 for rating corporate debt, insurance companies and banks. Its 2008 application, which the SEC approved, sought recognition as a rater of asset-backed securities and government bonds.

Egan-Jones at the time said it had about 150 ratings on issuers of asset-backed securities and about 50 on government-debt issuers. The complaint said those numbers were overstated and that the firm hadn’t made any such ratings publicly available free online credit report. Attorneys for Egan, 54, and the firm say their clients filled out the SEC’s application based on their understanding of what the form required.

Additionally, the complaint accused Egan-Jones of committing numerous book-and-record violations, such as failing to maintain a system for retaining e-mails. It also said the firm let two analysts participate in determining ratings for companies in which they owned securities, in violation of agency rules. An attorney for the defendants, Alan Futerfas, said the claims are without merit.

What about the big rating companies? McGraw-Hill Cos., S&P’s parent, in September said the SEC’s staff had issued S&P a “Wells notice” warning that the agency may seek penalties over its rating of a $1.6 billion collateralized debt obligation in 2007. S&P received its letter the month before Egan got its Wells notice. There’s no telling if the SEC will follow through.

In 2010, the SEC issued an investigative report that said a Moody’s rating committee in 2007 knowingly decided to keep inflated ratings on about $1 billion of notes after discovering an error in one of the firm’s models. Later in 2007, Moody’s applied to the SEC for recognition under the same 2006 federal law that Egan-Jones saw as its chance to join the same club as the Big Three.

The rating process used by Moody’s in that instance violated the policies described in the company’s application, the SEC said. However, the report said the agency decided not to accuse Moody’s of violating any laws, because some of the conduct occurred outside the U.S., presenting jurisdictional hurdles. Lucky break, I guess.

The way Congress and the SEC have rigged this game, nationally recognized credit raters are a unique species of opinion merchants, endowed with sweeping authority and special privileges. Institutional money managers often are required by law to abide by their judgments. The better approach would be to scrap the designation, so investors are encouraged to do their own homework.

Egan-Jones, which has been in business since 1992, could have continued as an independent, not subject to government oversight or control. Instead it chose to play within the Big Three’s system, exposing itself to the whims of the SEC. Now it’s paying the price.

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Swiss central bank President Thomas Jordan said policy makers are ready to take further measures if needed to weaken the franc as its strength poses

Governments committed more than $400 billion in fresh money to the International Monetary Fund to help it protect the world economy against deepening debt turmoil in Europe.

That sum is contained in the draft of a statement obtained by Bloomberg News which will be released by Group of 20 finance ministers and central bankers after a meeting now under way in Washington. Specific country contributions will be decided ahead of a Mexican summit of G-20 leaders in June, Brazilian Finance Minister Guido Mantega said.

The near-doubling of the fund

Selling soybeans, iron and copper ore and other commodities to Asian countries has transformed Latin America over the past decade, stabilizing economies despite worldwide crises and lifting tens of millions of people into the middle class. Now, say officials from both Asia and Latin America, a second gold rush is under way.

Asian investors flush with hundreds of billions of dollars in cash now see Latin America as a top business opportunity, and they’re flooding into manufacturing, construction and other industries, particularly in up-and-coming countries such as Brazil, Peru and Mexico. That’s transforming the lucrative relationship that was based primarily on exporting raw materials to Asia, an arrangement that frustrated governments eager to stimulate their own manufacturing.

Government and business officials meeting this week at the World Economic Forum in Mexico said the investment surge means Asia is poised to overtake the United States and the European Union as Latin America’s top trading partner over the next decade. Asian representatives have been an unmistakable presence at the forum, with South Korean, Chinese and Japanese investors making the rounds at this seaside city’s gleaming white convention hall.

“We’re talking about tens of billions of dollars in just Korean banks looking for a destination,” said Kevin Lu, Asia Pacific regional director of a World Bank Group agency that insures foreign investments against political risk. “When I meet with investors, Latin America is in every conversation about this.”

Already, Chinese investment in Latin America has jumped from a few million dollars just a few years ago to about $15 billion in 2010, with most of the money going into mining and other extractive industries in Brazil, Peru and other nations, said Alicia Barcena, executive secretary for the Chile-based United Nations Economic Commission for Latin America and the Caribbean. Chinese investment in the region jumped again last year, to about $23 billion, Barcena said.

Japan, meanwhile, surpassed even that figure last year and displaced China as the region’s top Asian investment and trade partner, Barcena said. She didn’t provide a precise number for Japan’s total.

China already ranks among the top three trading partners with Peru, Brazil, Chile and Argentina, and Asian investment in auto and other manufacturing in Mexican industrial cities has greatly expanded the middle class.

“I don’t have any doubt that Asia will soon become the region’s top trading partner,” said Mexican Economy Secretary Bruno Ferrari Garcia de Alba. “In Mexico, we believe we need to get closer and closer to Asia.”

According to the U.N. economic commission, 17 percent of Latin America’s exports went to Asian-Pacific countries in 2010, more than tripling from 5 percent in 2000 business card design. Over the same span, the share of the region’s total exports that went to the United States dropped from 60 percent to 40 percent.

Ferrari said Asian-Pacific countries buy 31 percent of Mexico’s total exports, amounting to $110 billion, with that number growing by an average of 20 percent annually over the past five years.

Lu, of the World Bank Group agency, said raw material industries in Latin America are now getting only 40 percent to 50 percent of total Asian investment in the region, while the rest goes to manufacturing, construction and other businesses.

He said foreign money flowing into a new region often first goes into buying natural resources because it’s a simpler business than making things, which requires dealing with labor, setting up supply chains and complying with various government rules.

“The Chinese look at natural resources as easier to manage, while manufacturing and construction is a lot more complicated,” Lu said. “It’s a very natural progression for any bilateral trade relationship to start to become broader, and to move into other areas.”

Hanwha, a South Korean petrochemicals company, is considering manufacturing in Latin America rather than continue to concentrate its production in China, said Sang M. Lee, CEO of the company’s U.S. operations.

At the same time, the company is eyeing the Latin American market, especially as it moves into solar energy, Lee said after a Wednesday morning at the World Economic Forum dedicated to the future of Asian-Latin American relations.

“We need that new production because there are a lot of resources in Latin America, and we need more markets,” Lee said. “We’re just at a beginning stage with this.”

To be seen is whether the rising Asian investment will quiet concerns around Latin America that exporting commodities while importing manufactured Asian goods will ruin domestic companies and leave the region vulnerable. Brazil, in particular, has raised import tariffs on manufactured goods to protect its own industries.

Peruvian Trade and Tourism Minister Jose Luis Silva Martinot made clear Wednesday that despite the economic benefits from Asian trade and investment, Peru still sees China and other Asian countries as competitors.

“We can see they’re up scaling the quality of their products,” Silva said. “Three-quarters of our exports are raw materials. It’s something we want to change.”

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Germany’s ZEW survey of investor optimism unexpectedly rose in April for a fifth straight month in another upbeat sign for Europe’s biggest economy despite recurring turmoil from the debt crisis hitting the 17 countries that use the euro.

The survey’s index, released Tuesday, rose to 23.4 from 22.3 in March. Analysts had expected a dip to 19.0, with some predicting a figure as low as 15.0.

The upbeat views run counter to the recent concern about bond market pressure on Spain and Italy, and were gathered from 275 financial experts between April 2 and April 16, during which the interest rate on those countries’ bonds rose _ a sign of financial distress.

Germany’s economy, driven by strong exports to Asia and North American, is expected to outpace the eurozone economy as a whole this year. The Bundesbank, the country’s national central bank, forecasts growth of 0.6 percent this year and 1.8 percent next year.

The eurozone economy as a whole is expected to shrink by 0.3 percent, according to estimates by the European Union’s executive commission.

Cutbacks in government spending in indebted countries including Greece, Ireland, Portugal, Spain and Italy are weighing on growth and boosting unemployment in large parts of the shared currency bloc.

ZEW President Wolfgang Franz said the data for Germany showed that “financial market experts have maintained their positive outlook for the next half year. “

He said the small size of the increase suggested that optimism was beginning to run up against concerns about possible risks. “The fact that the indicator is running in place shows, however, that the optimism about the real economy has been held back by significant risks, such as for example cyclical weakness of important trade partners and the debt crisis in the eurozone.”

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