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NewsWatch: Georgia, N.J. and Utah banks failRegulators shut down Georgia's Silverton Bank N.A., New Jersey's Citizens Community Bank, and Utah's America West Bank, bringing the number of bank failures this year to 32.
Source: MarketWatch.com - Top Stories | 2 May 2009 | 1:00 pm Tugofwar over stress tests shows banks have become too powerfulThe behind the scenes tugofwar between banks and the US government over the results of their recent stress tests shows that banks have become too powerful.Source: Telegraph Finance | 2 May 2009 | 12:05 pm Personal Finance Daily: The week's Top 10 Personal Finance storiesIn case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of April 27-May 1:
Source: MarketWatch.com - Top Stories | 2 May 2009 | 12:03 pm “Stress Tests” Point To Need For $150 Billion? Speculation Becomes AbsurdHow much will the 19 banks that were subjected to the government’s “stress test” need to raise? No one knows and guesses range as high as $150 billion. But, guesses may be well off the mark. No one outside the banks and the government know the details of their financials and no one knows how the results [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 2 May 2009 | 11:46 am Warren Buffett expects record crowd despite tough yearNEW YORK (Reuters) - By one measure, Warren Buffett is coming off his worst year ever. But by another measure, the investor may be more popular than ever.Source: Reuters: Business News | 2 May 2009 | 11:20 am Warren Buffett expects record crowd despite tough year (Reuters)
Source: Yahoo! News: Business | 2 May 2009 | 11:20 am Italy's GDP to drop by 4.2% in 2009Italy expects its gross domestic product to drop by 4.2 percent this year before a slight rebound of 0.3 percent in 2010, the finance ministry said on Saturday. The ministry, in an...Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 10:56 am Citigroup may need $10 bln more: reportUS bank Citigroup may need to raise up to 10 billion dollars in new capital as President Barack Obama's administration continues talks with banks over the results of its "stress tests," theSource: RSS feed - channel BNewsBusiness | 2 May 2009 | 10:51 am Auto Review: 2009 BMW 750Li: No Bangle, lots of baubleFinishing a photo session with the BMW 750Li, I put the camera down and looked at the Imperial Blue Metallic test car in the setting sun of an unusually warm spring day and thought, “That is one beautiful hunk of automobile,” especially from the rear three-quarter view.
Source: MarketWatch.com - Top Stories | 2 May 2009 | 10:01 am TABLE-Indonesia's Bumi Q1 net profit rises 21 pctJAKARTA, May 2 (Reuters) - Following are the consolidated results of Indonesian miner PT Bumi Resources Tbk for the three months ended March 31, 2009.Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 7:54 am 'Deal or No Deal' production moves to ConnecticutThe game show, which had been based in Culver City, is relocating to take advantage of the state's film and TV production tax breaks. ...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am Fed expands TALF program to aid commercial real estateInvestors who buy securities will be able to get loans for five years instead of three. The U.S. Federal Reserve...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am Hedge funds bristle at being portrayed by Obama as villainsOfficials of the firms that hold about $1 billion in Chrysler debt say it was unfair for the president to blame them for forcing the automaker into bankruptcy.President Obama's harsh attack on hedge funds he blamed for forcing Chrysler into bankruptcy this week sparked cries of protest from the secretive financial firms that hold about $1 billion of the automaker's debt.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Chrysler is Fiat's next challengeSergio Marchionne, though not a 'car guy,' led the Italian carmaker's revival. With the Chrysler-Fiat alliance, his reputation as a turnaround artist is on the line.Sergio Marchionne is routinely hailed as the savior of Fiat, the man who transformed the Italian automaker from a punch line into a player.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Wall Street extends rallyThe Dow advances 44 points to 8,212 -- its first close above 8,200 since Feb. 9 -- as market optimists continue to latch on to reports that show the economy has stopped getting worse. ...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am Chinese travelers get cold feetThe swine flu outbreak is causing many to cancel or postpone trips to the U.S. It would have been one of the biggest...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am 'Deal or No Deal' production moves to ConnecticutThe game show, which had been based in Culver City, is relocating to take advantage of the state's film and TV production tax breaks.In the latest blow to local production, the game show "Deal or No Deal" is moving to Connecticut.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Chinese travelers get cold feetThe swine flu outbreak is causing many to cancel or postpone trips to the U.S.It would have been one of the biggest tour-group catches of the year for California: Some 500 employees of a Beijing outsourcing company going on an 11-day excursion to Los Angeles and San Francisco, with a side trip to the Mexican coastal town of Ensenada.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am New-vehicle sales barely gain traction in AprilCarmakers report an overall decline of 34%, with Chrysler faring the worst with a 48.1% drop. Of the American-owned domestic manufacturers, Ford does best with a loss of 31.3%; GM falls 33.1%.The pace of auto sales in America last month remained at its lowest rate in decades, making only more difficult the attempt by Chrysler to escape from bankruptcy quickly and by General Motors Corp. to avoid a similar fate.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Chrysler's history: timelineThe automaker has driven a bumpy road. Highlights include Sherman tanks, K-cars, the modern minivan. A low point was being rescued from bankruptcy by President Carter.Chrysler's future may be tied up in Bankruptcy Court. But it isn't the first time the nation's No. 3 automaker's future has faced an uncertain future. From 1934's Airflow, its first commercial flop, to the introduction of the Dodge Caravan in 1983, Chrysler has had its share of ups and downs.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Two federal appeals courts issue conflicting opinions on NLRBA court in Washington rules that a decision by the labor board last year was invalid because it came from only two members while three seats remain vacant. A Chicago court says the opposite. ...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am Stock market becomes harder to shockNine weeks ago, the stock market couldn't find a single thing to be hopeful about.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Cruise lines rile passengers, tourism officials by avoiding Mexican portsCarriers will avoid stopping in Mexico for up to six weeks, rerouting ships to San Diego, Santa Barbara and San Francisco. Mexican tourism merchants are hurting, and some passengers are angry.As cruise lines announced plans Friday to avoid Mexican ports for several more weeks, the swine flu scare stirred anxiety among tourism leaders and anger among cruise passengers.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Microchip wristband becomes a theme park essentialAt Precision Dynamics, what started out as simple hospital ID product has become a high-tech admission pass, a cashless debit card, a hotel room key and a way to reunite lost children with parents.In a nondescript manufacturing plant on a quiet San Fernando cul-de-sac, a khaki-green machine the size of a buffet table sucks in bright pink ribbon and spits out one of the hottest features in theme parks.
Source: L.A. Times - Business | 2 May 2009 | 7:00 am Cruise lines rile passengers, tourism officials by avoiding Mexican portsCarriers will avoid stopping in Mexico for up to six weeks, rerouting ships to San Diego, Santa Barbara and San Francisco. Mexican tourism merchants are hurting, and some passengers are angry. ...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am New-vehicle sales barely gain traction in AprilCarmakers report an overall decline of 34%, with Chrysler faring the worst with a 48.1% drop. Of the American-owned domestic manufacturers, Ford does best with a loss of 31.3%; GM falls 33.1%. ...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am Stock market becomes harder to shockNine weeks ago, the stock market couldn't find a single thing to be hopeful about.Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am Hedge funds bristle at being portrayed by Obama as villainsOfficials of the firms that hold about $1 billion in Chrysler debt say it was unfair for the president to blame them for forcing the automaker into bankruptcy. ...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am Chrysler's history: timelineThe automaker has driven a bumpy road. Highlights include Sherman tanks, K-cars, the modern minivan. A low point was being rescued from bankruptcy by President Carter. ...Source: RSS feed - channel BNPaperBusiness | 2 May 2009 | 7:00 am ADB to set up 3 bln dlr fiscal spending fundThe Asian Development Bank said it will establish a three-billion-dollar fund to boost developing member countries' fiscal spending capacity amid the global economic crisis. ADB...Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 6:31 am India Ranbaxy recalls Nitrofurantoin Capsules in U.S.MUMBAI, May 2 (Reuters) - India-based drug maker Ranbaxy Laboratories said on Saturday it is recalling all lots of Nitrofurantoin Capsules, an antibiotic, currently in the U.S. market.Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 6:19 am Major U.S. carriers cut Mexico serviceATLANTA (Reuters) - Major U.S. airlines including Delta Air Lines, U.S. Airways, Continental Airlines and UAL Corp's United Airlines said they were cutting services to Mexico on Friday, citing lower demand for flights to the country hard hit by a flu outbreak.Source: Reuters: Business News | 2 May 2009 | 6:04 am UPDATE 2-Boston Globe gets reprieve, deadline extended* Sunday May 3 is new deadline (Updates to show Globe talks will continue)Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 5:44 am Broker tips: buy Arm Holdings sell WhitbreadStockbrokers at Hargreaves Lansdown give their views on what you should buy sell or hold.Source: Telegraph Finance | 2 May 2009 | 5:06 am Citi capital needs seen manageable (Reuters)
Source: Yahoo! News: Business | 2 May 2009 | 4:34 am Citi capital needs seen manageableNEW YORK (Reuters) - The amount of capital that Citigroup Inc would need to raise after U.S. stress test results are finalized is likely to be manageable if the bank needs to boost its equity at all, people familiar with the matter said on Friday.Source: Reuters: Business News | 2 May 2009 | 4:34 am PRESS DIGEST - Washington Post Business - May 1WASHINGTON, May 1 (Reuters) - The Washington Post included the following items in its business section on May 1. Reuters has not verified these stories and does not vouch for their accuracy.Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 4:06 am Market Snapshot: Banks health, jobs report to test bulls' willFresh on the heels of another month of gains, stocks next week will face hurdles, starting with the results of the government’s stress tests of banks and the key employment report for April.
Source: MarketWatch.com - Top Stories | 2 May 2009 | 4:01 am Former AIG head Greenberg to sell AIG sharesNEW YORK (Reuters) - Maurice "Hank" Greenberg, the former head of American International Group Inc , which was rescued by a federal bailout, has agreed to sell his nearly 12.9 million...Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 3:50 am Former AIG head Greenberg to sell AIG sharesNEW YORK (Reuters) - Maurice "Hank" Greenberg, the former head of American International Group Inc , which was rescued by a federal bailout, has agreed to sell his nearly 12.9 million shares of AIG to Starr International Co, according to an agreement filed on Friday.Source: Reuters: Business News | 2 May 2009 | 3:50 am Former AIG head Greenberg to sell AIG shares (Reuters)
Source: Yahoo! News: Business | 2 May 2009 | 3:50 am Government And Citigroup (C) Do Battle Over $10 BillionThe government says that Citigroup (C) needs to raise $10 billion. Citi believes otherwise. According to The Wall Street Journal, if the bank’s view of its status prevails, “Citigroup could wind up having a roughly $500 million cushion above what the government is requiring.” If Citi does have to raise $10 billion, depending on how onerous the terms [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 2 May 2009 | 3:18 am Citigroup need for capital may be "manageable": sourcesNEW YORK (Reuters) - The amount of capital that Citigroup Inc would need to raise after U.S. stress test results are finalized is likely to be "manageable" if the bank needs to raise funds,Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 3:01 am Bank objections delay stress testsUS regulators will delay the release of test results for the country's 19 biggest banks until next Thursday, after some lenders, including Citigroup and BofA, objected to demands that they raise more capitalSource: Financial Times - US homepage | 2 May 2009 | 1:44 am U.S. regulators seize a bank to bankersWASHINGTON (Reuters) - U.S. regulators seized Silverton Bank of Atlanta on Friday, a bank that provided services to other banks and the biggest bank failure so far this year, but officials...Source: RSS feed - channel BNewsBusiness | 2 May 2009 | 1:40 am U.S. regulators seize a bank to bankersWASHINGTON (Reuters) - U.S. regulators seized Silverton Bank of Atlanta on Friday, a bank that provided services to other banks and the biggest bank failure so far this year, but officials said the impact would be minimal.Source: Reuters: Business News | 2 May 2009 | 1:40 am Aftershocks to hit auto industry hardThe bankruptcy at Chrysler LLC is likely to soon be felt across the auto industry, disrupting production at plants of healthier rivals within a week or two, according to industry experts.Source: Business and financial news - CNNMoney.com | 2 May 2009 | 1:08 am Citi may need $10 billion more - reportRead full story for latest details.Source: Business and financial news - CNNMoney.com | 2 May 2009 | 1:07 am Glimmers of hope on US economyThe US manufacturing sector is still shrinking but at a much slower pace, a key survey showed, while battered US consumers started to feel more confident about the economySource: Financial Times - US homepage | 2 May 2009 | 1:01 am Buffett fans set for 'capitalist Woodstock'Warren Buffett's Berkshire Hathaway had its worst year ever in 2008. But for the throng gathering in Omaha for Saturday's annual shareholder meeting, that's ancient history.Source: Business and financial news - CNNMoney.com | 2 May 2009 | 12:56 am Paycheck: $80,000. Hours working: 0As many Americans are struggling to find a job, some are getting paid as much as $80,000 a year not to work.Source: Business and financial news - CNNMoney.com | 2 May 2009 | 12:53 am $10,000 deductible and other health cost woesSource: Business and financial news - CNNMoney.com | 2 May 2009 | 12:48 am Three more banks failThree more banks shut their doors Friday, according to the federal government, bringing the total number of failures up to 32 in 2009.Source: Business and financial news - CNNMoney.com | 2 May 2009 | 12:38 am Georgia, N.J. and Utah banks failRegulators shut down Georgia's Silverton Bank N.A., New Jersey's Citizens Community Bank, and Utah's America West Bank, bringing the number of bank failures this year to 32.
Source: MarketWatch.com - Top Stories | 2 May 2009 | 12:23 am John Dvorak's Second Opinion: Sanguine chip industry points to a tech tunaroundThe people who make those chips usually have a heads-up on changing trends.
Source: MarketWatch.com - Top Stories | 1 May 2009 | 11:49 pm Fusion sales help Ford gain in US auto market (AP)
Source: Yahoo! News: Business | 1 May 2009 | 11:46 pm Death To All Seniors!As sophisticated mortgage servicing rackets go, it looks like Carrington Capital has the process locked down but good. It also looks quite like they have been bending to to point of breaking. But, who is going to complain? Carrington seems have found the keys to the magic kingdom: screw the senior secured creditors, after all, no one thinks they are popular. Moreover, Carrington manages to accomplish this while appearing to "help" home-debtors. (People, let's face up to the fact that the couple who is 25% underwater on their real-estate and for whom it is not looking like cram-downs are going to do squat are not "home-owners.") Carrington knows it sounds patriotic when they tell parties that they are trying to keep homeowners in their homes by renting out after they foreclose on them," said a senior bond investor under condition of anonymity. But such a strategy actually increases investor losses, he said. More importantly, Carrington appears to have little interest in trying to sell the REO properties. I spoke with two REO brokers hired by Carrington Capital last year, who said they are coming to terms with the fact that Carrington Mortgage Services used to them to do its dirty work and propel the myth that it is trying to sell REO properties. We've got the entire article first for a bit of sneak peeking. Enjoy! Frayed Ends.Carrington Capital.pdf 
Source: Dealbreaker | 1 May 2009 | 11:36 pm Air NZ asks managers to take over the drinks trolleyAir New Zealand has asked management staff to "muck in" on Tasman and Pacific flights to cover for striking cabin staff next week. With a four-day strike by 250 union members looming, the airline is turning to other staff to help...Source: New Zealand Herald - Business | 1 May 2009 | 11:34 pm Weekend Investor: Dollar-cost averaging converts skeptical investorsEven if you're wary of the rally, one of the best ways to get back into the market is through dollar-cost averaging -- a strategy that was left for dead as markets took a collective dive.
Source: MarketWatch.com - Top Stories | 1 May 2009 | 11:15 pm Bank stress tests to clarify U.S. credit crisisWASHINGTON (Reuters) - The true dimensions of the U.S. credit crisis will become much clearer next week with the release of results from unprecedented government "stress tests" of the nation's 19 largest banks and their capital needs.Source: Reuters: Business News | 1 May 2009 | 11:10 pm May Day protests intensify in EuropeProtesters clashed with riot police in Germany, Turkey and Greece, while thousands angry at the government's responses to the global financial crisis took to the streets in France and SpainSource: Financial Times - US homepage | 1 May 2009 | 11:01 pm UK's largest dealership Pendragon blasts scrappage schemeThe Government’s flagship scheme to boost the car market was dealt a blow yesterday when Britain’s biggest dealership dismissed the scrappage incentive plan as likely to have “very little if any” effect. Source: Latest Business News from Times Online | 1 May 2009 | 11:01 pm Rentokil trumpets recovery but analysts credit currency movementsRentokil Initial, the services company, yesterday raised hopes that its long-promised turnaround is starting to happen — despite the insistence of City critics that any improvement was because of the weak pound. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm Record number of bankruptcies signal growing despair as the downturn bitesThe number of debt-laden Britons forced into bankruptcy is soaring to the highest levels since records began half a century ago as surging unemployment and the housing slump inflict a heavy toll on hard-up families. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm Figures show quantitative easing plan is not deliveringGovernment moves to kickstart the economy by printing money were called into question yesterday after data showed that its “quantitative easing” programme failed to deliver the boost to Britain's money supply in March that is seen as vital to recovery. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm Pearson maintains objective to match 2008 earningsPearson, the publisher of the Financial Times and Penguin Books, announced a 1 per cent improvement in revenue for the first quarter and reiterated its forecast to match 2008 earnings. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm Vincent Tchenguiz increases pressure on Horlick fund by seeking removal of entire boardNicola Horlick’s flagship investment trust was facing a major investor revolt yesterday after its biggest shareholder called for the entire board to be sacked. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm Need to know: Starbucks closures ... Twitter hacker ... Kier dealView video and Need to Know interactive heatmap Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm Chrysler boosted by decision of one rebel lender to yield to the President’s wishesChrysler had its first day in bankruptcy court yesterday, having received a boost in the late hours of Thursday when one of its rebel lenders accepted the Government’s offer to wipe out the car company’s debt. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm Market has already declared holiday a high street successThe May Bank Holiday weekend might be regarded as the first real test of the high street’s key spring season, but the stock market already appears to have declared it a success. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm The case for Chrysler rebelsFor all its imperfections, Chrysler is held in great affection – not least by petrolheads and architecture lovers. It has given the world the Jeep, the Dodge pickup truck, the incomparably finned Plymouth Barracuda and in this country in the 1970s the rather less glamorous Hillman Avenger, a car that, from memory, seemed to come only in beige. Source: Latest Business News from Times Online | 1 May 2009 | 11:00 pm After Hours: Banking stocks, Ford shares edge higherShares of Citigroup Inc. are among banking stocks edging higher, following dayside declines prompted by a broker trimming earnings estimates.
Source: MarketWatch.com - Top Stories | 1 May 2009 | 10:58 pm Write-Offs: 05.01.09$$$ The Story On Berkshire's Munger [WSJ] $$$ Silverton Bank taken over by regulators [Marketwatch] $$$ Hold Me [anal_yst] $$$ Don't forget to send us your nominations!
Source: Dealbreaker | 1 May 2009 | 10:50 pm Continental, United cut flights to MexicoContinental and United airlines announce they are cutting flights to flu-stricken Mexico, and other airlines are likely to follow suit as swine flu discourages south-of-the-border travel.
Source: MarketWatch.com - Top Stories | 1 May 2009 | 10:47 pm Auto sales plunge to near 30-year lowsCHICAGO (Reuters) - U.S. auto sales fell 34.4 percent in April as the industry held near the lowest levels in nearly 30 years and closed out the month with Chrysler LLC filing for bankruptcy protection.Source: Reuters: Business News | 1 May 2009 | 10:45 pm O'Reilly Automotive Cut to `Market Perform' at FBRSource: Bloomberg - All Podcasts | 1 May 2009 | 10:45 pm Stocks to Watch: Stocks in focus for MondayAmong the companies whose shares are expected to see active trade in Monday's session are Sprint Nextel, McKesson, Tyson Foods and Estee Lauder.
Source: MarketWatch.com - Top Stories | 1 May 2009 | 10:41 pm Arsenal battle lines drawnUS sports entrepreneur Stan Kroenke became Arsenal Football Club's largest shareholder after spending up to £50m to lift his stake to 28.3 per centSource: Financial Times - US homepage | 1 May 2009 | 10:39 pm Pontiac RIPThe highest-profile victim of the US car industry crisisSource: BBC News | Business | World Edition | 1 May 2009 | 10:39 pm Wall Street rally extends into a third month (AP)
Source: Yahoo! News: Stock Markets News | 1 May 2009 | 10:31 pm F1 can live without Ferrari, says MosleyMax Mosley, the man driving the biggest change in the history of Formula One, took the fight to Ferrari – which leads opposition to his radical budget cap plans – by saying the sport could live without the presence of Formula One's most successful and durable racing teamSource: Financial Times - US homepage | 1 May 2009 | 10:30 pm Desperate car dealers get useless loansStarting early next week, larger businesses will temporarily be eligible to apply for loans backed by the Small Business Administration, a move aimed at getting help to besieged auto dealers and industry suppliers.Source: Business and financial news - CNNMoney.com | 1 May 2009 | 10:08 pm Stocks rise on day, weekStocks rose Friday, as a few better-than-expected economic reports and a rally in oil stocks gave a boost to the broader market.Source: Business and financial news - CNNMoney.com | 1 May 2009 | 10:03 pm Let This Be A Warning To All Of You Running Around Town Telling People To "Just Call Me L-Train"
A New York man who told investors he was president of a hedge fund called AR Capital Group Inc (ARC) was really a hired driver, according to court documents on Friday in which he and two others were charged with fraud. 'Fund boss' was really a driver-US court papers [Reuters]
Source: Dealbreaker | 1 May 2009 | 9:54 pm Auto sales plunge to near 30-year lows (Reuters)
Source: Yahoo! News: Business | 1 May 2009 | 9:54 pm Bolivia takes over BP subsidiaryBolivian President Evo Morales takes over a subsidiary of British oil company BP, as part of his nationalisation campaign.Source: BBC News | Business | World Edition | 1 May 2009 | 9:38 pm Hear: Blame The K-CarOn today's Planet Money: -- Chrysler headed for bankruptcy today, pushed there by President Obama in the latest twist in the surreal saga of the American automobile industry. NPR's Frank Langfitt checks in from his rounds of UAW union halls, where we hear from a Chrysler worker who says the cars his company makes just aren't good enough. Another worker says he's surprised a UAW health care trust fund ended up as a majority owner of the company, since he sat through days of votes on wage concessions without hearing a word about it. -- We asked whether you bore any blame for wrecking the global economy, and whether you were up for apologizing on our Planet Money apology line. You were. We're leaving the line open at 202.371.1775. Bonus: Selling the K-Car. Download the podcast; or subscribe. Intro music: Passion Pit's "The Reeling." Find us: Twitter/ Facebook/ Flickr People, with "two-speaker radio now in FM," the only question is how anyone resisted the Chrysler's K-Car line. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 May 2009 | 9:36 pm Bank stress test results delayedRegulators have delayed releasing the results of stress tests conducted on the nation's largest banks until May 7, government officials familiar with the matter said Friday.Source: Business and financial news - CNNMoney.com | 1 May 2009 | 9:34 pm Kroenke raises stake in ArsenalArsenal director Stan Kroenke becomes the largest shareholder at the Premier League club, increasing his stake to 28.3%.Source: BBC News | Business | World Edition | 1 May 2009 | 9:31 pm US factory output continues fallUS manufacturing activity fell further in April - but at a slower pace than in March - figures suggest.Source: BBC News | Business | World Edition | 1 May 2009 | 9:27 pm NBC's Neumeier Discusses Sports Wagering, Picks Derby FavoritesSource: Bloomberg - All Podcasts | 1 May 2009 | 9:19 pm Presented By:Source: Dealbreaker | 1 May 2009 | 9:10 pm Geithner Is "Dauntingly Fit" And Quick On Tennis Court, Object Of Tennis Partner's Threesome Fantasies
Source: Dealbreaker | 1 May 2009 | 9:10 pm The Dow Jones industrials' moves since Lehman fall (AP)AP - How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman's fall, which touched off a paralysis of the credit markets and deepened the recession, the stock market has gone through an extended period of volatility that subsided during December but that has returned in 2009. The numbers are the closing levels for the Dow:Source: Yahoo! News: Stock Markets News | 1 May 2009 | 9:08 pm Meltdown 101: Low mortgage rates not for everyone (AP)AP - Every week, mortgage finance giant Freddie Mac releases average rates on four types of home loans, including 30-year fixed rate mortgages the most popular type of loan for home buyers.Source: Yahoo! News: Business | 1 May 2009 | 9:00 pm U.S. confidence rising but auto sales still weakCHICAGO (Reuters) - U.S. consumers felt much more upbeat about the economy in April, a month when the country's battered manufacturing sector also appeared to be crawling out of a deep recessionary hole, reports showed on Friday.Source: Reuters: Business News | 1 May 2009 | 8:58 pm India's diamond industry loses sparkleThe $65 billion global diamond industry has taken a big hit in the downturn. Prices have fallen by a third since August. That's bad news for India, where more than 70% of the world's diamonds are cut and polished. Raymond Thibodeaux reports.Source: Marketplace | 1 May 2009 | 8:43 pm Fresh signs of recovery bolster Wall Street (Reuters)
Source: Yahoo! News: Stock Markets News | 1 May 2009 | 8:42 pm Fresh signs of recovery bolster Wall Street (Reuters)
Source: Yahoo! News: Business | 1 May 2009 | 8:42 pm Fresh signs of recovery bolster Wall StreetNEW YORK (Reuters) - U.S. stocks rose on Friday as surging oil prices pushed energy shares higher and fresh economic data suggested key parts of the economy could be stabilizing.Source: Reuters: Business News | 1 May 2009 | 8:42 pm US car sales continue to sufferUS car sales continued to struggle in April as cash-conscious consumers remained reluctant to buy new vehiclesSource: BBC News | Business | World Edition | 1 May 2009 | 8:40 pm Let's Get You A Job
And it's not just women who have taken a dodgy detour off the professional high road. Live Nude Stockbrokers [Fairfield Weekly] *Any ideas?
Source: Dealbreaker | 1 May 2009 | 8:36 pm Why Informa's Swiss move should send a shiver down our spinesInforma's decision to move its tax residency and parent company to Switzerland will please its shareholders but it should worry the rest of us.Source: Telegraph Finance | 1 May 2009 | 8:30 pm Horlick and Tchenguiz ready to square upIt's gloves off in what will be one of the top prize fights of the year. Vincent Tchenguiz versus Nicola Horlick. I hope Tchenguiz knows what he's doing. Although Tchenguiz is ostensibly trying to remove the directors of Bramdean Alternatives a quoted investment fund the row centres on Horlick's management of the fund's assets and its subsequent share price performance.Source: Telegraph Finance | 1 May 2009 | 8:29 pm From Cold War spies to battling web campaignersFrom Cold War spies to battling web campaignersSource: Telegraph Finance | 1 May 2009 | 8:15 pm Call to veto Rio's Chinalco dealRio Tinto's controversial tieup with Chinalco is back in the spotlight after Malcolm Turnbull head of Australia's opposition Liberal Party called on the government to veto the Chinese statecontrolled group's 19.5bn £13.1bn investment in the miner.Source: Telegraph Finance | 1 May 2009 | 8:08 pm Wrekin's £11m ruby overvaluedThe valuation of "The Gem of Tanzania" a 2kg ruby held by collapsed company Wrekin Construction was based on a forged document its administrators have found.Source: Telegraph Finance | 1 May 2009 | 8:07 pm Chrysler in doomsday jobs warningChrysler began its stint in bankruptcy court wiith a plea for haste and a warning that hundreds of thousands of jobs could be lost if it cannot execute its proposed restructuring within two monthsSource: Financial Times - US homepage | 1 May 2009 | 8:04 pm Oil hits 4-wk high as consumer confidence improves (Reuters)
Source: Yahoo! News: Stock Markets News | 1 May 2009 | 7:56 pm Tchenguiz takes on HorlickVincent Tchenguiz is attempting a boardroom coup at Bramdean Alternatives the quoted investment fund founded and managed by City "superwoman" Nicola Horlick.Source: Telegraph Finance | 1 May 2009 | 7:40 pm Fast fixes to get your house soldSource: Business and financial news - CNNMoney.com | 1 May 2009 | 7:35 pm Corcoran joins FreightwaysRoger Corcoran, who retired as chief executive of TNT Australia, New Zealand and the Pacific Islands in December, is joining the board of Freightways.Source: New Zealand Herald - Business | 1 May 2009 | 7:30 pm Getting thrifty at garage salesWith more people looking to turn unwanted goods into cash, yard/garage sales are looking like good alternatives for consumers wanting to save money. Cash Peters visits a garage sale to see what's up for grabs.Source: Marketplace Money | 1 May 2009 | 7:29 pm Swine flu ground zero yields no cluesVillagers in La Gloria, Mexico, stunned at why the virus hit them first, are seeking answersSource: Financial Times - US homepage | 1 May 2009 | 7:25 pm Debts Are So 2008
All you do is lie. It isn't registered to you so call again. I wish you died when you fell off the roof. If ur not married good. He can do soooo much better. Broken relationship? Family favor gone bad? Psychotic girlfriend? Psychotic boyfriend? No. Debt collector. ...the relentless text message campaign of shame began. On the other side of the phone was someone identifying himself as AFN President Michael Fischer, who started, innocently enough, by (allegedly) imploring Dicks to "Call me." Gradually he became more desperate. Here are some (alleged) highlights from the dozens of texts quoted in the complaint, which accuses AFN of a litany of charges including consumer fraud, invasion of privacy and defamation.... The United States is presently slipping into a deep bi-polar state when it comes to debt, debtors and debt collectors. This is unsurprising. From the President right on down to the delinquent home-owner, the trend is that creditors are increasingly treated like evil villains, debtors like victims and securities laws, bankruptcy priorities and regulations that would tend to establish means for creditors to actually recovered sums owed them as inconvenient and out-of-date anachronisms not compatible with the new, progressive society currently being constructed. Senior creditors are greedy obstructionists for not simply forgiving Chrysler so it can fulfill its destiny: pour billions of taxpayer dollars into the Detroit tar pits and employ union workers indefinitely. The process seems to work like this: In the confusion, is it any wonder that the likes of AFN represent the vanguard of the creditor backlash? AFN seems to have missed the nuance though. We can only demonize debtors when they have borrowed government cash. And then, only after they have borrowed it. Unfortunately, when you create a system that prevents all civil means of recovery, you end up with criminals for debt collectors. This means that lunatics like those that seem to be working over at AFN are going to fan the flames. No doubt a wave of counter-counterrevolutionary consumer protection laws will fly through Congress. No doubt this will spike interest rates, that is, until counter-counter-counter-counterrevolutionary measures are taken and interest rate caps are instituted. America! Fuck yeah! The "Fatal Attraction" Method Of Debt Collection [TPM]
Source: Dealbreaker | 1 May 2009 | 7:16 pm On Wall Street: Chrysler saga sets dangerous precedentThe fate chosen for the carmaker by the US could undermine the long-term strength of its capital markets, writes Francesco GuerreraSource: Financial Times - US homepage | 1 May 2009 | 7:15 pm Interbank lending rate narrows as trust returnsThe benchmark interbank lending rate fell to just one basis point above 1pc yesterday as the markets continue to react to low policy rates and government action to free up credit markets.Source: Telegraph Finance | 1 May 2009 | 7:12 pm Governor Paterson Discusses New York State's BudgetSource: Bloomberg - All Podcasts | 1 May 2009 | 7:10 pm Madoff Son Bitch Slapped Into Keeping Low Profile
Update: Apparently at one point Andy told Reed he "isn't the only victim," with the suggestion that this whole Ponzi scheme had hurt Andy deeply, too.
Source: Dealbreaker | 1 May 2009 | 7:05 pm Balancing love and moneyAlana Semuels writes the "Ask Alana" column for the L.A. Times, where she offers readers advice about relationship and money etiquette. Semuels talks about some of her favorite questions from readers.Source: Marketplace Money | 1 May 2009 | 7:02 pm All change after latest fallout in Stelios rowEasyJet has lost its finance director in the latest fallout from the row with company founder Sir Stelios HajiIoannou.Source: Telegraph Finance | 1 May 2009 | 7:00 pm When Chrysler Tried ThisWe're talking Chrysler on the podcast today, and along the way we stopped to remember the K Car. Go ahead and raise your hand if you remember the last great model for saving the company. The K Car, we'll just tell you now, has its own fan club. Of course. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 May 2009 | 6:56 pm Our 30-day financial makeoverA few weeks ago we sent word that we were looking for a financial guinea pig. Teacher Gail George answered our call enthusiastically and offered to let us to track her spending for 30 days. She explains why she wants to participate.Source: Marketplace Money | 1 May 2009 | 6:55 pm Getting PersonalTess Vigeland and Chris Farrell answer listeners' pressing questions about using securities to pay off debt, taking out an equity line of credit and whether veritable annuities are a good idea.Source: Marketplace Money | 1 May 2009 | 6:52 pm Russian leaders in election dilemmaDmitry Medvedev's growing political stature is increasing the possibility that he will stand for re-election in 2012 despite assumptions that those polls would see Vladimir Putin's return, according to a top Kremlin adviserSource: Financial Times - US homepage | 1 May 2009 | 6:50 pm April Car Sales: Worse For The Japanese Than Detroit (TM)(HMC)(GM)(F)In a bit of a role reversal, the US light vehicle sales of the large Japanese car companies did worse than The Big Three for the month of April. But, no one did well. Toyota’s (TM) sales dropped 42% to 126,540. Nissan suffered a slide of 38% to 47,190. Honda (HMC) held up much better with a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 6:49 pm FBR's Miller Sees U.S. Unemployment `Hovering' Between 11, 12%Source: Bloomberg - All Podcasts | 1 May 2009 | 6:48 pm This Week’s LinksMusic Machinery on how the Time 100 was hacked. Steadfast Finances on high interest savings accounts. Seeking Alpha has a list of 30 companies at risk of bankruptcy.
Source: Business Pundit | 1 May 2009 | 6:41 pm Financial strain threatens mental healthFinancial hardship can be difficult for anyone, but what about someone suffering from severe anxiety, depression or other mental illness? There are places that offer both legal and medical support during trying times. Amy Scott reports.Source: Marketplace Money | 1 May 2009 | 6:31 pm US backs NZ film industryUnited States investors are now the biggest funders of the New Zealand screen industry. The industry had total revenue of $2.74 billion in the 2008 financial year, up 11 per cent on last year, Statistics New Zealand said yesterday...Source: New Zealand Herald - Business | 1 May 2009 | 6:30 pm Chrysler's speedy bankruptcy case gets startedNEW YORK -- Attorneys for Chrysler will ask a federal bankruptcy judge Monday to let the ailing automaker start using a new infusion of $4.5 billion in loans from the Treasury Departmentto keep operating under bankruptcy protection.
Source: L.A. Times - Business | 1 May 2009 | 6:27 pm "...and company estimates for the value of stock options and stock awards on the day they were granted last year."
Highest-Paid CEOs for 2008 [AP]
Source: Dealbreaker | 1 May 2009 | 6:21 pm Dreier Sheets
Three of disgraced attorney Marc Dreier's Hamptons homes are being rushed to market in hopes of attracting a buyer looking for an "ideal vacation property." Forgive our skepticism, but wouldn't selling as slowly as possible, like in three years be more likely to "maximize the proceeds?" Lawyer's $camptons Homes For Sale [The New York Post]
Source: Dealbreaker | 1 May 2009 | 6:11 pm Abby Cohen Says S&P 500 May Rise to 1,050 in 6-to-12 MonthsSource: Bloomberg - All Podcasts | 1 May 2009 | 6:10 pm Is infinite debt to blame?So who's to blame for the financial crisis? The finger has been pointed at everyone from Wall Street to Main Street. Labor lawyer Thomas Geoghegan lays out his theory in the April issue of Harper's Magazine.Source: Marketplace Money | 1 May 2009 | 6:10 pm Cole Says Auto Parts Suppliers in `Deep, Deep Trouble'Source: Bloomberg - All Podcasts | 1 May 2009 | 6:07 pm Straight StoryTess Vigeland talks with economics editor Chris Farrell about what to do with declining interest rates and slow-growing savings accounts.Source: Marketplace Money | 1 May 2009 | 6:05 pm Chrysler urges court to approve its planNEW YORK (Reuters) - Bankrupt automaker Chrysler LLC idled its manufacturing plants on Friday and said its survival depends on quick court approval of its restructuring plan and the subsequent restarting of its operations.Source: Reuters: Business News | 1 May 2009 | 5:55 pm Visteon dispute nears resolutionThe dispute over the collapse of Visteon is close to being resolved, with a union recommending an improved deal.Source: BBC News | Business | World Edition | 1 May 2009 | 5:47 pm Warren Buffett's biggest questionEven the 20th century's greatest investor is not immortal and Berkshire Hathaway's shareholders have a right to be told who will succeed the 78-year-old and lead the companySource: Financial Times - US homepage | 1 May 2009 | 5:45 pm Buffett & Berkshire Primer Ahead of Annual Meeting (BRK-A, BRK-B, BNI, USG, TIF, HOG)This weekend will mark the annual shareholder meeting for Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B). In the past, this has been considered the Financial Woodstock. But this is a much different year. Berkshire Hathaway shares sit down more than one-third from their highs. They had been down more than 50% at the major lows. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 5:38 pm Attorneys' Pay FallingRachel writes from KQED land: As of a year ago, it was extremely rare for a contract attorney/document review job (particularly for large firms) to pay anything below $40/hour. That rate was standard across doc review agencies and felt extremely stable. Now, the majority of the doc review job announcements for contract attorneys specify that the pay will be only $35/hour. Whether that reflects that firms are not willing to pay the agencies as much, or that firm clients are not willing to pay the firms as much, or that agencies are just trying to keep more of what the firms pay, I don't know. But it really stinks. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 1 May 2009 | 5:30 pm $150m Vector bondsVector is planning to sell $150 million of bonds paying a minimum interest rate of 7.5 per cent from Monday. The unsecured, unsubordinated, fixed-rate bonds will mature in October 2014 and have been assigned a credit rating of BBB-plus...Source: New Zealand Herald - Business | 1 May 2009 | 5:30 pm Chrysler court rescue bid beginsChrysler closed its US factories on Friday - as bankruptcy proceedings to start its restructuring plans began.Source: BBC News | Business | World Edition | 1 May 2009 | 5:28 pm Decoding the home appraisal processAppraisers wield a lot of power when it comes to naming a value on your property. But how exactly do they come up with that magical number? Tamara Keith reports on how the appraisal process works.Source: Marketplace Money | 1 May 2009 | 5:25 pm Weekly Wrap: How Chrysler will emergeThe swine flu dominated headlines, but Chrysler was one of the few things to divert attention away from the outbreak. Kai Ryssdal speaks with Fortune's Leigh Gallagher and Reuters blogger Felix Salmon about whether a stronger Chrysler will emerge after bankruptcy.Source: Marketplace | 1 May 2009 | 5:21 pm Going home hard for overseas workersIt's understandable that multinational companies are bringing their overseas workers back home to cut costs. But for many displaced workers and their families, it's not such an easy transition. Scott Tong reports.Source: Marketplace | 1 May 2009 | 5:21 pm More blockbuster movies this summerThe summer movie season kicks off with the latest installment of the X-Men franchise. As Jeremy Hobson reports, there are a lot of potential blockbusters coming to a screen near you.Source: Marketplace | 1 May 2009 | 5:21 pm Buying Bendel's clothes? Not anymore!Department store Henri Bendel will stop selling clothes this summer and focus on accessories and beauty products. Amy Scott reports on how luxury retailers are cutting costs and laying off staff in this recession.Source: Marketplace | 1 May 2009 | 5:20 pm Immigration policy to target employersThe Obama administration is shifting its policy on immigration enforcement. Instead of focusing on undocumented workers, officials will put their attention on employers. Dan Grech reports.Source: Marketplace | 1 May 2009 | 5:20 pm Chrysler woes may help Kokomo diversifyChrysler's bankruptcy is having huge ripple effects for the automaker's supply chain and the towns that support it, including Kokomo, Ind. Kai Ryssdal speaks with Kokomo Mayor Greg Goodnight about how his city is coping.Source: Marketplace | 1 May 2009 | 5:20 pm Chrysler's impact on dealers, customersJust because Chrysler is entering bankruptcy protection doesn't mean the automaker has stopped selling cars. The question is, will consumers buy them? Tamara Keith visits a dealership to find out.Source: Marketplace | 1 May 2009 | 5:20 pm ING's Carnell Says U.S. Auto Industry is Too BigSource: Bloomberg - All Podcasts | 1 May 2009 | 5:19 pm Lower Rig Counts Still Stabilizing (BHI, USO)Baker Hughes Inc. (NYSE: BHI) has released the weekly rig counts. The bad news is that these rig counts are still declining. The good news is that this really appears to be stabilizing at least some on the rate of change. Here is this week’s count: U.S. Rig Count is down 10 from last week at [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 5:14 pm Use caution when condo shoppingHousing prices in Florida have dropped 30% from last year. Condo prices have declined even further. But people looking to invest in a condo should first do their homework to avoid serious pitfalls. Dan Grech reports.Source: Marketplace Money | 1 May 2009 | 5:10 pm Microsoft Will Give Away Windows 7 For Free
Microsoft will be offering users a free version of Windows 7 starting May 5. PCPro reports: Microsoft is effectively giving away Windows 7 free for a year with the launch of the Release Candidate. The Release Candidate is now available to MSDN and TechNet subscribers, and will go on unlimited, general release on 5 May. The software will not expire until 1 June 2010, giving testers more than a year’s free access to Windows 7. “It’s available to as many people who see fit to use it, although we wouldn’t recommend it to just your average user,” John Curran, director of the Windows Client Group told PC Pro. “We’d very strongly encourage anyone on the beta to move to the Release Candidate.” By offering hackers and IT guys plenty of hands-on time with the upcoming OS, things could be looking up for Windows in general. Microsoft says that Windows 7 will officially be released in January 2010.
Source: Business Pundit | 1 May 2009 | 4:38 pm Austral Pacific receivershipWellington-based exploration and production company Austral Pacific Energy is in receivership and owes Investec Bank (Australia) about US$16.8 million ($29.5 million). Austral Pacific Energy is the operator of the onshore Taranaki...Source: New Zealand Herald - Business | 1 May 2009 | 4:30 pm Diamondback Energy Services Cancels IPODiamondback Energy Services, Inc. has filed with the SEC to withdraw its filing for an initial public offering of common stock. It actually looks like the first filing goes all the way back to November 13, 2006. Amended filings had been made, but the company is now withdrawing the filing for an IPO. No formal reasons [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 4:22 pm Mexico shuts down to control fluMexico starts a five-day shutdown of parts of its economy in a bid to curb swine flu, as the virus reaches China.Source: BBC News | Business | World Edition | 1 May 2009 | 4:08 pm FTSE falls before holiday (AFP)
Source: Yahoo! News: Stock Markets News | 1 May 2009 | 4:06 pm Alpert Discusses Chrysler's Bankruptcy, Partnership with FiatSource: Bloomberg - All Podcasts | 1 May 2009 | 4:01 pm Brian Gaynor: Cheers, say Lion's minority shareholdersThe takeover offer for Lion Nathan could be dubbed "the revenge of the minority New Zealand shareholder". This title is apt because there have been a number of transactions involving the company where minority shareholders have...Source: New Zealand Herald - Business | 1 May 2009 | 4:00 pm Mighty pay homage to cardboard kingAustralia's vast Visy empire, reaching from New Zealand to the United States, this week shifted to a new generational axis as Anthony Pratt moved into the controlling chair at the group's Melbourne headquarters. His father Richard...Source: New Zealand Herald - Business | 1 May 2009 | 4:00 pm Large telcos make a splash in saturated marketTelecom and Vodafone are racing for mobile phone customers in a market with 110 per cent market saturation - in other words there are more mobile phones in circulation than there are consumers. Growing such a saturated market will...Source: New Zealand Herald - Business | 1 May 2009 | 4:00 pm Myers rises up British rich list with $690mFormer Lion Nathan boss Doug Myers is ranked as the 215th wealthiest person in Britain, according to the Sunday Times newspaper. His fortune is put at £265 million ($690 million), down £23 million from last year although his ranking...Source: New Zealand Herald - Business | 1 May 2009 | 4:00 pm Mary Holm: A bob each way is the safe pathQ. My friend has just signed up for superannuation and told me she has invested her contributions four ways - 25 per cent conservative (cash); 25 per cent moderate (cash plus fixed interest); 25 per cent balanced (shares plus cash/fixed...Source: New Zealand Herald - Business | 1 May 2009 | 4:00 pm Taking the Economy’s Temperature—Via NewspapersDow Jones says it can measure economic sentiment by reading the press. By Nancy Miller of The Big Money Just as a technological revolution is blowing up newsrooms across the country, Dow Jones has come up with an algorithm to prove that yesterday’s newspapers are useful for more than just fish wrap. According to the publishing giant, you [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 3:56 pm Tongue Discusses Berkshire Hathaway's Annual MeetingSource: Bloomberg - All Podcasts | 1 May 2009 | 3:54 pm Chevron profits hit by weaker oilChevron, the second largest oil company in the US, has posted a sharp fall in quarterly profits as the price of oil dropped from its peak.Source: BBC News | Business | World Edition | 1 May 2009 | 3:51 pm Manufacturing Contraction SlowsThe U.S. manufacturing sector contracted further in April but at a slower rate than in March -- a sign the economy could be stabilizing. The ISM Purchasing Managers' Index -- a composite survey of executives on changes in new orders, production, employment, inventories, and prices -- rose to 40.1 in April from 36.3 in March. A reading below 50 indicates contraction. Economist Ian Shepherdson with High Frequency Economics predicts the index will continue to rise, hitting the 44 mark by June or July. "That's immensely significant," he says, "because 44 is consistent with stable GDP." Shepherdson is quick to add, however, that "there are still deep problems in the economy." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 May 2009 | 3:49 pm Rogers Says Most Banks Are BankruptSource: Bloomberg - All Podcasts | 1 May 2009 | 3:40 pm This Week’s Weird Jobs
The last two jobs in this list are really, really good. Promise: 1. National Sales Director, Hospice A rapidly growing Quasi National Hospice Company seeks an experienced and successful Sales/Business Development Director to oversee Sales and Business Development activities for a very fast paced, State-of-The-Art company. This position requires EXTENSIVE TRAVEL to the territories and hands-on supervision of the sales force and Business Development process. Must be good at finding places for people to die. 2. London: Escort Agency New Faces Required We have several new vacancies due to business expansion. If you are new to escorting don’t worry you will have our full support,encouragement and understanding. We pride ourselves in providing that extra feeling of satisfaction & fulilment to our clientele. Our clientele are growing bored with the same old escorts, week after week. We need you to refresh the flock. 3. National: Licensing Dangerous Sport-Related Footage Anything that’s really dramatic and/or unique..but there must be some very high-impact crash/wipeout/fight included. We are NOT interested in run-of-the-mill falls where the athlete bounces right back up. We do not cover medical or interment costs. 4. Sonoma, CA: Wine Twitterer As read on Mashable: The…job contest begins tomorrow via AReallyGoodeJob.com, when dream job seekers can fill out an application and submit a one-minute video demonstrating their special skills. The job description includes the following responsibilities, “Throughout the course of the job the successful applicant will learn about viticulture, winemaking, Sonoma County and Murphy-Goode wines. He or she will prepare and post dispatches on their experiences though social media tools such as Facebook, blogs, internet videos and Twitter as well as traditional media.” Master the art of drunk twittering for $10K/month? Impressive! 5. Umbilical Cord Tanner I read about this job in Astoria Oregon Rust: I’d like to see the job ad for that one. Happy Friday!
Source: Business Pundit | 1 May 2009 | 3:01 pm Coming Soon to a Showroom Near You
Riding to the rescue? Fiat It isn't likely to stave off plant closings or impending layoffs, but the Fiat 500 could be the car to ultimately save Chrysler. Detroit Free Press columnist Mark Phelan predicts the Italian minicar could hit American streets early next year and that high-volume U.S. assembly of the 500 could make or break the Chrysler-Fiat alliance. He writes: The best estimates are that Chrysler factories in North America may be producing between 400,000 and 600,000 Fiat-based vehicles a year by 2013 or 2014. That should be enough to keep two or three Chrysler factories open. Early indications are four plants are in the running for that work: two in the United States, one in Mexico and one in Canada. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 May 2009 | 2:49 pm SEQUENOM’s Next Wave of Issues: Lawyers (SQNM)Sequenom, Inc. (NASDAQ: SQNM) is trading higher today after the huge implosion yesterday. With a short interest of close to 30% of its whole float and with day traders and bottom-fishers getting in the stock, the gains we are seeing are probably not a huge shock to anyone. But the company has severely hurt its [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 2:43 pm Indicator: More AlterationsMarc W. writes: I went to see my regular seamstress today. She has a small shop in the middle of the upscale district in our city; she caters to a lot of doctors, lawyers, and their wives. I was getting a pair of suit pants hemmed. Normally a job like this would take 2-3 days, but she told me today that it would be almost a month before they would be ready. She said she's seeing a lot of older clothes that need alterations or repair, versus new clothes that just need to be tailored. She mentioned that a lady came in the other day that she had never seen before even though the woman lived less than three blocks from her shop. The lady was having a tear in a dress repaired. My seamstress said the woman was visibly shaken and mentioned that she had been watching CNBC all morning. So maybe it's a green shoot for my seamstress, but not so much for upscale clothing retailers. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 May 2009 | 2:38 pm Chrysler Rains Pain In DetroitFrom the auto industry's hometown paper: "Chrysler bankruptcy slams state." Whatever the company's long-term viability, reports the Detroit Free Press, in the short run "pain rained down on metro Detroit." Like this: Three metro Detroit plants -- Sterling Heights, Detroit Axle and Conner Assembly -- are to close by December 2010, along with three other U.S. plants. While Obama billed it as a "surgical" bankruptcy, stamping plants in Sterling Heights and Warren shut down Thursday afternoon because suppliers stopped shipping parts out of fear they won't be paid. Chysler plans to close all its American plants for 60 days, starting Monday, while it gets reorganized. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 1 May 2009 | 2:27 pm Factory & Manufacturing Data, Mixed to ‘Less-Bad’The Institute for Supply Management released its manufacturing data for April and we also saw March Factory Orders. The April data from the ISM looks favorable compared with March and to the consensus estimates. The March data from factories is older and was back when we were still barely past the stage of staring into [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 2:16 pm Jaguar to target Indian motoristsJaguar Land Rover says its brand of cars will formally go on sale in India for the first time later this year.Source: BBC News | Business | World Edition | 1 May 2009 | 1:59 pm Raser Technologies Revamps the Hummer
Raser Technologies (RZ) rang the NYSE opening bell this morning. The company is best known for its electric Hummer H3, a 100 mpg Hummer. From Engadget: Raser partnered up with FEV to turn the famously non-environmentally sound gas guzzler around. The prototype boasts an E-REV power train engine, and three lithium ion battery packs under the rear of the vehicle. The batteries provide enough juice for about 40 miles, when the range extender starts up, providing an additional 400 miles — averaging about 100 MPG — before it needs to be plugged in again. The company is looking to start up low volume production by 2011, though there is no word on possible pricing at this time. Who said the green movement meant removing the ultimate symbol of American consumerism from the road? I’d like to know if GM is on board with this.
Source: Business Pundit | 1 May 2009 | 1:52 pm JPMorgan Cuts Banks: Reflections on Its Own Business (JPM, BAC, C, USB, WFC, STI, BRK-A)J.P. Morgan Chase & Co. (NYSE: JPM) has issued a negative bank research call for the major money center and super-regional banks this morning. Bank of America Corporation (NYSE: BAC), Citigroup, Inc. (NYSE: C), U.S. Bancorp (NYSE: USB), Wells Fargo & Company (NYSE: WFC), SunTrust Banks, Inc. (NYSE: STI), and others were all hit by [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 1 May 2009 | 1:51 pm When You See This, Retail has Recovered
When people are spending money naturally and without stimulus, retail stores can start celebrating with signs like this. Also check out: How we got into this mess
Source: Business Pundit | 1 May 2009 | 1:12 pm Obama Expands Housing Aid Plan (BusinessWeek Online)BusinessWeek Online - The Obama Administration said on Apr. 28 it is expanding its plan to stem the housing crisis by offering mortgage lenders incentives to lower borrowers' bills on second mortgages.Source: Yahoo! News: Business | 1 May 2009 | 12:08 pm Gail Dudack on What's Ahead for the Stock Market (BusinessWeek Online)BusinessWeek Online - Gail Dudack has spent decades deciphering patterns in market moves. At Dudack Research Group, a division of Midwood Securities, she mines market data to find clues to future gains. She figures it could take until 2016 for the Standard & Poor's 500-stock index, now at 858, to surpass -- and remain above -- 1550, putting it safely ahead of its 2000 peak. Amy Feldman asked Dudack about her outlook.Source: Yahoo! News: Stock Markets News | 1 May 2009 | 12:08 pm
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