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Personal Finance Daily: The week's 10 best Personal Finance storiesIn case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of May 18-22:
Source: MarketWatch.com - Top Stories | 23 May 2009 | 12:01 pm GM (GM): Using Taxpayer Dollars To Put Taxpayers Out Of WorkThe Administration is starting to face some resistance in Congress about its plan to put GM (GM) into Chapter 11 using Treasury money to sustain the company as it works it way back to profitability. The government put another $4 billion into the car company yesterday. In the process of a government supported bankruptcy, $27 billion in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 23 May 2009 | 11:19 am Auto Review: 2010 Ford Transit: Think small business, familiesFord has just introduced a nifty little rig that will carry everything from people to flowers and spittoons.
Source: MarketWatch.com - Top Stories | 23 May 2009 | 10:01 am Auto Review: 2010 Honda Insight: A sporty hybrid gas sipperSoon it will be the Insight and the new Prius slugging it out to see which one makes a trip to the gas pump first.
Source: MarketWatch.com - Top Stories | 23 May 2009 | 10:01 am Guttenberg says Fiat improves its Opel bidBERLIN, May 23 (Reuters) - German Economy Minister Karl-Theodor zu Guttenberg said on Saturday Fiat has improved its bid for General Motors' Opel unit in the last several hours and he sensed all bidders...Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 9:21 am Magna seeks added German government help for Opel: reportBERLIN (Reuters) - Magna is seeking further multi-billion euro German government support if it takes over General Motors' Opel unit, German magazine Der Spiegel reported on Saturday.Source: Reuters: Business News | 23 May 2009 | 9:20 am Magna seeks added German government help for Opel: reportBERLIN (Reuters) - Magna is seeking further multi-billion euro German government support if it takes over General Motors' Opel unit, German magazine Der Spiegel reported on Saturday.Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 9:10 am Magna seeks added German govt help for Opel -reportBERLIN, May 23 (Reuters) - Magna is seeking further multi-billion euro German government support if it takes over General Motors' Opel unit, German magazine Der Spiegel reported on Saturday.Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 9:02 am Vietnam inflation slows to 5.58 pct in May: govtVietnam's inflation rate slowed to 5.58 percent in May, down sharply from last year's record high, the General Statistics Office said. In a report late Friday, the GSO said food prices...Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 8:05 am California budget crisis could bring lasting economic harmThe short-term pain of budget cuts could pale next to a long-term loss of companies and academic talent.As bad as California's budget crisis is for the state's $1.8-trillion economy, just wait. It could get worse.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am Real estate agents file $6-million suit over 'CSI' episodeScott and Melinda Tamkin are alleging defamation and invasion of privacy, saying characters in the episode were based on them.When married real estate agents Scott and Melinda Tamkin read about an episode of the hit crime drama "CSI: Crime Scene Investigation" that featured dirty-dealing, S&M-loving real estate agents named Scott and Melinda Tamkin, they didn't need to consult a forensic expert for an explanation.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am Receiver overseeing Bratz toy maker is removedMGA Entertainment founder Isaac Larian is again sole head of MGA, which must still give up the lucrative line of dolls to archrival Mattel.The temporary receiver put in place to oversee MGA Entertainment Inc. has been removed by the federal judge who put him there last month, making company founder Isaac Larian again the sole head of the toy-making outfit.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am Investors face their fears in muni debtHarvey Kauffman isn't looking for excitement in his investment portfolio. So the retired La Costa septuagenarian has almost all of his savings in bonds -- including California tax-free municipal issues.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am California unemployment drops slightly in AprilThe state lost 63,700 jobs even though the jobless rate fell to 11% from March's 11.2%. Cuts by state and local governments loom, and new graduates are scrambling.Reporting from Los Angeles and Sacramento Tiffany Hsu -- California's unemployment picture improved slightly in April, but a bit of good news brought little cheer to the thousands of college and high school graduates flooding into the worst job market in decades.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am Treasuries and the dollar bear brunt of sell-offThe Dow falls 14 points to 8,277 after stocks lose early gains. The 10-year T-note yield jumps to 3.44% and the dollar slumps against most major currencies including the euro and a lot of minor ones.This week couldn't end fast enough for the Treasury bond market or the dollar, which were hammered again Friday as investors bailed out before the holiday weekend.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am Business travelers moving to the back of the planeFewer companies are willing to spring for more expensive business-class airfares because of the economic downturn.In the heady days of corporate travel, employees who had to take long flights, particularly overseas, could get their employers to spring for more comfy business-class seats.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am Jim Wiatt to exit William MorrisThe chairman is out weeks after coordinating a merger with rival talent agency Endeavor, headed by Ari Emanuel. Wiatt's next step is unclear.Just three weeks after shepherding the merger of two top Hollywood talent agencies, William Morris Agency Chairman Jim Wiatt is leaving -- a sign that Endeavor is firmly in control of the combined entity.
Source: L.A. Times - Business | 23 May 2009 | 7:00 am Obama signs credit card lawAt a signing ceremony in the Rose Garden, the president warns that both consumers and card issuers need to act responsibly. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am GM borrows an additional $4 billion from TreasuryThe automaker has now accepted $19.4 billion in government loans and says it expects to need $7.6 billion more after June 1. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am California unemployment drops slightly in AprilThe state lost 63,700 jobs even though the jobless rate fell to 11% from March's 11.2%. Cuts by state and local governments loom, and new graduates are scrambling. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am Treasuries and the dollar bear brunt of sell-offThe Dow falls 14 points to 8,277 after stocks lose early gains. The 10-year T-note yield jumps to 3.44% and the dollar slumps against most major currencies including the euro and a lot of minor ones. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am Real estate agents file $6-million suit over 'CSI' episodeScott and Melinda Tamkin are alleging defamation and invasion of privacy, saying characters in the episode were based on them. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am Receiver overseeing Bratz toy maker is removedMGA Entertainment founder Isaac Larian is again sole head of MGA, which must still give up the lucrative line of dolls to archrival Mattel. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am Business travelers moving to the back of the planeFewer companies are willing to spring for more expensive business-class airfares because of the economic downturn. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am Investors face their fears in muni debtHarvey Kauffman isn't looking for excitement in his investment portfolio. So the retired La Costa septuagenarian has almost all of his savings in bonds -- including California tax-free municipal issues...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am PennyMac files to offer stockThe firm is a new unit of Countrywide ex-president Stanford Kurland's Private National Mortgage Acceptance Corp. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am Jim Wiatt to exit William MorrisThe chairman is out weeks after coordinating a merger with rival talent agency Endeavor, headed by Ari Emanuel. Wiatt's next step is unclear. ...Source: RSS feed - channel BNPaperBusiness | 23 May 2009 | 7:00 am 21 ways to earn extra money part 1: selling unwanted possessionsBoost your income during the economic downturn.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 23 May 2009 | 5:29 am Air shows deliver adrenaline without bleeding family budgetsAttendance soars as families seek more bang for the buck. Many events are free. All are thrilling.Recession-weary families looking for affordable entertainment are increasingly turning to air shows as a source of cheap thrills, served up with a dollop of red, white and blue.
Source: L.A. Times - Business | 23 May 2009 | 4:56 am Two Illinois banks fail, 36 for the yearStrategic Capital Bank and Citizens National Bank failed on Friday, bringing the total bank failures for 2009 to 36, up from 25 in all of 2008.Source: Business and financial news - CNNMoney.com | 23 May 2009 | 4:41 am GM borrows $4 billion more, prepares for bankruptcyDETROIT (Reuters) - General Motors Corp on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.Source: Reuters: Business News | 23 May 2009 | 4:08 am Market Snapshot: Wavering rally faces GM woes, housing dataA nearly three-month rally in stocks will square off against a possible General Motors Corp. bankruptcy and a round of new housing data during the holiday-shortened trading week.
Source: MarketWatch.com - Top Stories | 23 May 2009 | 4:01 am Russians Want To Loss $200 Million On FacebookThe Russians are coming! The Russians are coming! Based on a report in The Wall Street Journal, Digital Sky Technologies, a Russian investment group wants to put $200 million into Facebook for preferred stock. The transaction would value the social network at $10 billion, a price which is impossible to justify. Under the proposal, Facebook’s common [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 23 May 2009 | 3:33 am Colombia coffee production drops by one thirdCoffee production in Colombia, the world's number two producer of the beans, plunged 33 percent in the first four months of 2009, with exports sinking by 21 percent, officials said. The...Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 2:38 am US willing to reopen talks on Cuban migrationIn a move that drew mixed reactions from the Cuban American community, the US state department has offered to resume discussions about Cuban migration to the USSource: Financial Times - US homepage | 23 May 2009 | 2:25 am Positive data needed to lift stocks (Reuters)
Source: Yahoo! News: Stock Markets News | 23 May 2009 | 2:22 am Positive data needed to lift stocks (Reuters)
Source: Yahoo! News: Business | 23 May 2009 | 2:22 am Positive data needed to lift stocksNEW YORK (Reuters) - Wall Street may feel more pressure next week unless a raft of economic data, includingSource: Reuters: Business News | 23 May 2009 | 2:22 am Positive data needed to lift stocksNEW YORK (Reuters) - Wall Street may feel more pressure next week unless a raft of economic data, includingSource: RSS feed - channel BNewsBusiness | 23 May 2009 | 2:22 am Boeing subsidiary gets $250M government contractA Boeing Co. subsidiary located in the small Columbia River town of Bingen, Wash., has received a government contract with a potential value of $250 million. That's dramatically more...Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 1:58 am Judge expands Bratz injunction, lifts receivershipLOS ANGELES (Reuters) - A federal judge ended a temporary receivership of MGA Entertainment Inc in a copyright infringement lawsuit over its Bratz doll business but broadened the list of...Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 1:52 am Russian group mulls Facebook investment: reportSAN FRANCISCO (Reuters) - A Russian Internet group, Digital Sky Technologies, has offered to invest $200 million in Facebook in a deal that would value the social networking site at $10...Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 1:40 am Russian group mulls Facebook investment: reportSAN FRANCISCO (Reuters) - A Russian Internet group, Digital Sky Technologies, has offered to invest $200 million in Facebook in a deal that would value the social networking site at $10 billion, the Wall Street Journal reported on Friday.Source: Reuters: Business News | 23 May 2009 | 1:40 am Russian group mulls Facebook investment - reportSAN FRANCISCO, May 22 (Reuters) - A Russian Internet group, Digital Sky Technologies, has offered to invest $200 million in Facebook in a deal that would value the social networking site at $10 billion,...Source: RSS feed - channel BNewsBusiness | 23 May 2009 | 1:35 am Two Illinois banks fail, bringing '09 total to 36Champaign, Ill.-based Strategic Capital Bank and Macomb, Ill.-based Citizens National Bank are closed by regulators, bringing the total number of bank failures for 2009 to 36, according to the Federal Deposit Insurance Corp.
Source: MarketWatch.com - Top Stories | 23 May 2009 | 12:11 am Professor Robert Shiller warns Britain may suffer a double recessionOne of the world's most influential economists warns today that Britain faces the prospect of two recessions in quick succession. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am Mecom raises £141.5m as credit crunch squeezes sales and debtsMecom, the newspaper publisher founded by David Montgomery, the former Mirror Group chief executive, tapped shareholders for £141.5 million yesterday. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am British Airways must change directionTwenty two years ago, a million members of the UK public made a misjudgment. They exchanged perfectly good cash for something that has proved to be much less valuable - shares in British Airways. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am WPP braced for investor rebellion as it proposes £60m bonus payout for SorrellSir Martin Sorrell could earn $95 million ($£60 million) in bonuses over the next five years if shareholders in his WPP approve a controversial reward scheme at an extraordinary meeting next month. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am Need to know: Honda pay cuts ... Corus at risk ... HSBA acquisitionView video and Need to Know interactive heatmap Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am BA slumps to biggest loss in quarter of a centuryBritish Airways slumped to a £401 million loss last year amid a collapse in premium-fare passenger numbers and increased fuel costs. It was its worst loss since 1982 and came after the airline made a profit of £992 million in 2007-08. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am Fitch follows Moody's lead and downgrades ratings of building societiesFresh concerns over the health of the building societies sector were raised yesterday when a second credit rating agency downgraded several big mutuals, including Chelsea Building Society, Newcastle Building Society, Principality Building Society, West Bromwich Building Society and Yorkshire Building Society. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am Founder launches legal action against TravelzestThe founder of Travelzest, the AIM-listed owner of the tour operators VFB Holidays and Best of Morocco, is suing the company for defamation after it suspended him as chief executive over the possible theft of company money. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am Brixton opens door to takeover by property rivalBrixton, the heavily indebted property group, is in talks about a possible takeover with Segro, its larger rival, as well as “a small number of other parties”. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am Late approach from Chinese carmaker for GM EuropeA Chinese carmaker has entered the running to take a stake in General Motors’ European operations. Source: Latest Business News from Times Online | 23 May 2009 | 12:00 am GM borrows $4 billion more, prepares for bankruptcy (Reuters)Reuters - General Motors Corp on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.Source: Yahoo! News: Business | 22 May 2009 | 11:59 pm Taxing Times: Victim of a tax error? Stand up and fightNobody really likes dealing with the IRS, but there are a variety of reasons you may be forced to do so through no fault of your own.
Source: MarketWatch.com - Top Stories | 22 May 2009 | 11:44 pm Congress attacks GM revampGeneral Motors is preparing to file for bankruptcy protection as early as May 31, but a speedy restructuring of the troubled carmarker faces new headwinds from an increasingly sceptical US CongressSource: Financial Times - US homepage | 22 May 2009 | 11:34 pm Stocks to Watch: Stocks in focus for TuesdayAmong the companies whose shares are expected to see active trade in Tuesday's session are Take-Two Interactive Software Inc., Donaldson Co., and General Motors Corp.
Source: MarketWatch.com - Top Stories | 22 May 2009 | 11:21 pm After Hours: B. of A. tops movers, GMAC needs to cut costsNasdaq shares tip lower in a quiet after-hours trading session, with Bank of America topping Big Board movers.
Source: MarketWatch.com - Top Stories | 22 May 2009 | 11:19 pm Rising debt clouds market optimismRecent market optimism about improved financial and economic conditions was for the second day overshadowed by concerns about the implications of soaring government debt in the US and the UKSource: Financial Times - US homepage | 22 May 2009 | 11:05 pm Stocks lose grip on early gains, Dow off 15 (AP)
Source: Yahoo! News: Stock Markets News | 22 May 2009 | 10:54 pm Morgan Stanley reforms compensation schemeMorgan Stanley is changing its compensation scheme by de-emphasising the year-end bonus and increasing executive salaries as the Obama administration prepares to introduce a set of broad reforms aimed at changing Wall Street's pay incentivesSource: Financial Times - US homepage | 22 May 2009 | 10:51 pm How the major stock indexes fared Friday (AP)AP - Wall Street's confidence took some heavy blows this week.Source: Yahoo! News: Stock Markets News | 22 May 2009 | 10:35 pm Top tax to force up Premier League payPremier League clubs are preparing for a hefty increase in wage bills to retain and attract foreign talent in the world's most lucrative football competition to compensate for an increase in the top tax rate in the UK next yearSource: Financial Times - US homepage | 22 May 2009 | 10:34 pm Ten pieces of Americana you must see this summerVacations might take a back seat to paying the electric bills for many Americans this summer, but there are a number of affordable destinations in the U.S. -- both historic and quirky -- that could prompt some to pack up the car and make an adventure of it.
Source: MarketWatch.com - Top Stories | 22 May 2009 | 10:29 pm Stocks fizzle ahead of holidayStocks slumped at the close of Friday's session, ending the week little changed, as investors went into a holiday weekend with lingering concerns about the economy.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 10:22 pm GM's tough road to avoid bankruptcyIt's coming down to the wire for General Motors.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 10:21 pm GM enters critial countdownBurdened by billions of dollars in losses and now billions in federal loans, General Motors has only a few days left to engineer the kind of sweeping financial overhaul that has eluded it for years.
Source: MarketWatch.com - Top Stories | 22 May 2009 | 10:02 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 | 22 May 2009 | 9:59 pm Ford extends buyout offerRead full story for latest details.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 9:56 pm Propane suppliers quietly reduce size of refillsBackyard grillers may get a little steamed this holiday weekend when buying refilled propane tanks: They will be getting less fuel for their money than last Memorial Day.
Source: L.A. Times - Business | 22 May 2009 | 9:56 pm Former Navy Sec. says ship buying system flawed (AP)AP - The Navy doesn't appear to know how to buy combat ships and should stop throwing more money into a flawed procurement system, a former leader of the service said Friday.Source: Yahoo! News: Stock Markets News | 22 May 2009 | 9:34 pm Wall Street slips late as budget worries lingerNEW YORK (Reuters) - Stocks fell for a fourth day on Friday on persistent worries about the U.S. budget deficit, with U.S. Treasuries and the dollar losing ground.Source: Reuters: Business News | 22 May 2009 | 9:31 pm Wall Street slips late as budget worries linger (Reuters)
Source: Yahoo! News: Stock Markets News | 22 May 2009 | 9:31 pm Wall Street slips late as budget worries linger (Reuters)
Source: Yahoo! News: Business | 22 May 2009 | 9:31 pm World economy out of "free fall" (Reuters)
Source: Yahoo! News: Business | 22 May 2009 | 9:19 pm World economy out of "free fall"NEW YORK (Reuters) - The world grouping OECD said on Friday the global economy was out of "free fall," offering hope of recovery late this year, but investors focused on risks to the U.S. credit rating from rising government debt.Source: Reuters: Business News | 22 May 2009 | 9:19 pm Hear: And Three Baby Camels
Happy holiday: Lemonade stand, reinvented, in San Francisco's Mission District. Jim Bourke On today's Planet Money: -- On Monday, Jeff Nielsen told us about the trouble he'd had getting his mortgage reworked. He couldn't get an answer back from Wells Fargo, though his situation would seem perfect for President Obama's new program to keep people in their homes. After that podcast, wonder of wonders, Neilsen got a break. -- Shipping executive Per Gullestrup wanted to rescue a crew of sailors from pirates demanding $7 million ransom. He ended up forging an unlikely business relationship with the negotiator, "Mr. Ali," marked by mutual respect and the gift of newborn livestock. -- A haiku medley, written by you. Bonus: Eating your own eats. Download the podcast; or subscribe. Intro music: Here We Go Magic's "Fangela." Find us: Twitter/ Facebook/ Flickr. 
Opening day at a community garden in Henderson, Colo. Michael Rodriguez Michael Rodriguez sends an indicator: 36. As in 36 plots out of 40 sold in less than two weeks for our community garden here in Henderson, Colorado. We are a suburban development, started in 2000, that is about 70% built out. We took one of the empty lots and converted it to a community garden. I would say we are following a trend of growing locally, eating in with our own eats and saving $ in these economics time. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 22 May 2009 | 9:14 pm BankUnited sees Miami expansion, no layoffsMIAMI (Reuters) - Florida-based BankUnited, which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said.Source: Reuters: Business News | 22 May 2009 | 9:06 pm Obama signs credit card crackdownPresident Obama signed a bill on Friday that makes it tougher for credit card issuers to raise fees and interest rates.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 9:00 pm Relax. The U.S. isn't a deadbeatIt looks like after two months of ignoring the risks that remain for the economy and markets, Wall Street has finally found something else to worry about: the possibility that the United States could lose its AAA credit rating.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 8:58 pm U.S. appeals court agrees tobacco companies liedWASHINGTON (Reuters) - Cigarette companies systematically lied for decades to hide the dangers of smoking, a U.S. appeals court said on Friday as it upheld a trial judge's racketeering verdict.Source: Reuters: Business News | 22 May 2009 | 8:53 pm US stocks sell off ahead of long weekendUS stocks ended a week of modest gains after optimism from home improvement retailer Lowe's on Monday triggered a rally that fears over the US credit rating failed to extinguishSource: Financial Times - US homepage | 22 May 2009 | 8:37 pm Sears shares rise after report of 1st-qtr profit (AP)AP - Shares of Sears Holdings Corp. soared Friday, a day after the retailer surprised investors by posting a first-quarter profit.Source: Yahoo! News: Business | 22 May 2009 | 8:29 pm Meltdown 101: What's a preferred share? (AP)AP - When a company's balance sheet is in tatters, is an investor any better off holding preferred stock?Source: Yahoo! News: Stock Markets News | 22 May 2009 | 8:29 pm Earthquake rocks central MexicoA moderate 5.7 magnitude earthquake shook central Mexico on Friday, shaking buildings in the colonial city of Puebla and the capital Mexico City, but there were no immediate reports of casualties or major damageSource: Financial Times - US homepage | 22 May 2009 | 8:16 pm Can Nanotech Make A Comeback For Investors? (ALTI, IBM, TINY, NSPH, PXN)How long has it been since nanotechnology was on the tip of everyone’s tongue as the next great speculative investment frontier? It seems like ancient history. But we have seen news from Altair Nanotechnologies Inc. (NASDAQ: ALTI), IBM (NYSE: IBM), Harris & Harris Company, Inc. (NASDAQ: TINY), and Nanosphere, Inc. (NASDAQ: NSPH) this week. We [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 8:06 pm FSA mulls more data on bank bailoutsRegulator may publish details of how banks were "stresstested" revealing the Government's view of the "worstcase scenario" for the financial sector.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:57 pm US credit card firms clamp downPresident Barack Obama signs into law new restrictions on the practices of US credit card companies.Source: BBC News | Business | World Edition | 22 May 2009 | 7:56 pm Fiat plans up to 10,000 Opel cutsFiat says it plans to cut fewer than 10,000 jobs if it succeeds in buying Opel and Vauxhall from General Motors.Source: BBC News | Business | World Edition | 22 May 2009 | 7:56 pm This Week’s LinksDirect Creative Blog on how peoples’ eyes follow website content. The Columbia Journalism Review on the media’s role in the financial meltdown. The Economist on why California needs a new constitution. Why is Tim Giethner breaking the law again? Help support the Federal Reserve Transparency Act.
Source: Business Pundit | 22 May 2009 | 7:55 pm Renewables for the rust beltAbout 200 miles south of Detroit, America's industrial heartland gives way to the Ohio countryside.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 7:53 pm Venezuela in bank nationalisationVenezuela nationalises its third largest lender, Banco de Venezuela, after agreeing to pay Banco Santander $1.05bn.Source: BBC News | Business | World Edition | 22 May 2009 | 7:50 pm We need the whole truth on stress tests however gory that might beYou and I are sitting on losses of nearly £18bn from our holdings in Lloyds and Royal Bank of Scotland but we're not going to receive details of how well these banks might fare in a worsening economy.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:50 pm Vauxhall cuts likely in Magna plansThe risk of job cuts at Vauxhall plants rose after suitors for GM Europe revealed they plan thousands of redundancies.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:41 pm Icelandic raids linked to Kaupthing inquiryIcelandic police have raided 10 addresses and designated several people as suspects in connection with an investigation into alleged market manipulation at Kaupthing Bank.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:35 pm Biggs Sees Strong Global Recovery From Fiscal CrisisSource: Bloomberg - All Podcasts | 22 May 2009 | 7:26 pm Segro targets Brixton as property sector consolidatesSegro the industrial property group has made a preliminary approach to acquire fellow FTSE 250 group Brixton as the turmoil that has engulfed the commercial property market took a new twist.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:25 pm "Master of fantasy" Bernanke says economy to healNEWTON, Massachusetts (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke told law school graduates on Friday that the recession-mired U.S. economy would recover and to remain optimistic about their job prospects.Source: Reuters: Business News | 22 May 2009 | 7:25 pm HMRC tax amnesty could raise £2bnOffshore savers are being urged to reveal all under an amnesty scheme.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:21 pm Housing market 'still has 10pc to fall'Goldman Sachs has tempered hopes of an imminent recovery in the housing market by forecasting a further 10pc fall in prices.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:13 pm Is it time to fire your broker?Even modest, diversified and longterm-focused investors were thwarted by the collapse of Wall Street So what should they do next? Writer and author Jeffrey Goldberg thinks they should start by taking a good long look at their brokers.Source: Marketplace Money | 22 May 2009 | 7:06 pm Tuning in to business news the BBC wayI worry we are back to business as usual at the BBC. For years Auntie has kept a permanent presence at the London Stock Exchange television studio ready to hijack passing business bigwigs for interview and maintain a presence in the City.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 7:06 pm Write-Offs: 05.22.09$$$ "A woman who has fled New Zealand with her boyfriend after they received a multimillion dollar bank credit also has her daughter and sister with her, it was revealed today. Police said today they were seeking a couple over the taking of $3.8 million mistakenly credited by Westpac to a bank account." [NZHERALD] $$$ Morgan Stanley taps UBS banker as prime-brokerage head [Wealth Report] $$$ Richard Posner Defines Depression [The Deal] $$$ "Beginning this weekend, Axe is trying to appeal to New York area pick-up artists with a new venture: it is sponsoring a Hamptons nightclub for the entire summer." [NYT] That's it for us. We're off Monday, but if you happen to come across Vikram Pandit pounding some Mike's Hard Lemonades poolside, we want to know. Have a great weekend! 
Related: New Zealand - Morgan Stanley - New York - Vikram Pandit - Westpac Source: Dealbreaker | 22 May 2009 | 7:00 pm Social networking your way to a jobSocial networks are becoming a prime place to search for jobs as unemployment numbers continue to rise. Whether its through blogs, Twitter or Facebook, people are seeking out potential employers through alternative online sources.Source: Marketplace Money | 22 May 2009 | 6:54 pm Opposition to anti-aid campaigner growsOpposition is building against Dambisa Moyo, a Zambian economist, who argues that official development assistance has fostered dependency and perpetuated poor governanceSource: Financial Times - US homepage | 22 May 2009 | 6:54 pm Damn The Receivership, Full Speed Ahead!We cannot decide if we think it is good news or bad news that BankUnited seems to be proceeding as if nothing at all is fucked, even though it was "closed and sold" not 48 hours ago. Aren't dramatic and painful changes supposed to follow hard-upon after such passings? Florida-based BankUnited, which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said. What is receivership coming to? BankUnited sees Miami expansion, no layoffs [Bloomberg]
Related: Miami - Bloomberg L.P. - Florida - Receivership - BankunitedFinancial Source: Dealbreaker | 22 May 2009 | 6:50 pm OECD defends UK's AAA credit rating statusBritain does not deserve to lose its top tier credit rating status Angel Gurria secretarygeneral of the OECD says.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 22 May 2009 | 6:48 pm 30-day financial makeoverGail George signed up to have us track her finances for 30 days. She talks with Tess Vigeland about what she learned in Week 3.Source: Marketplace Money | 22 May 2009 | 6:45 pm Getting PersonalTess Vigeland and economics editor Chris Farrell answer listeners' pressing questions about whether the self-employed can get unemployment, buying disability insurance and the current state of the I Bond.Source: Marketplace Money | 22 May 2009 | 6:40 pm Living Next To Rubble Now
Next door, but no longer a neighbor. Jeff Rahn had gotten frustrated with living next to a foreclosed home in Sunnyvale, Calif., so he looked up the public records on it. He reports finding that the neighbors had taken out a pair of mortgages in 2006, then apparently stopped paying and moved away in 2007. In the foreclosure process, the creditors agreed to settle with the lender and held an auction in February 2008. Rahn's not sure why no one bought it and moved in, but the house remained empty. This week a demolition crew showed up, he writes. "Now the house has been reduced to rubble." He wonders whether banks are just finding it so difficult to sell foreclosed houses that they'd rather bulldoze them. He writes: I like the idea of banks getting their balance sheets in order, but is this what it leads to in the real world, houses being torn down? » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 22 May 2009 | 6:37 pm German presidential battle heats upFor the first time in decades, the outcome of the vote is not a foregone conclusion, as incumbent Horst Köhler could become the first German head of state to be voted out after his first termSource: Financial Times - US homepage | 22 May 2009 | 6:35 pm FDIC shifts failure cost burden to big banksRead full story for latest details.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 6:33 pm BankUnited sees Miami expansion, no layoffs (Reuters)
Source: Yahoo! News: Business | 22 May 2009 | 6:31 pm Contact gets hearing delayContact Energy has succeeded in getting a year-long delay to a hearing of a $1 billion-plus wind farm in the Waikato. A board of inquiry yesterday ruled that the company could have more time to work on engineering and environmental...Source: New Zealand Herald - Business | 22 May 2009 | 6:30 pm WHO bows to criticism on swine flu alertThe World Health Organisation has bowed to pressure that it was unnecessarily stoking public alarm by raising the threshold required for it to declare a flu pandemicSource: Financial Times - US homepage | 22 May 2009 | 6:06 pm Presented Without Comment: Nature Of Bid
It seems The Big Picture beat us to it.
Related: Shopping - Visual Arts - Photography - Comment Spam - Abuse Source: Dealbreaker | 22 May 2009 | 6:04 pm Correction: You Will Not Be Sleeping Where Dick Fuld Hath Slept
In related news, Joe Gregory has slashed the price of his 9,500 square foot Bridgehampton home by 14% to $27.9 million. It comes with 8 bedrooms, a pool, 200 feet of "ocean frontage," and many, many memories. Act now.
Related: Wall Street Journal - Chief executive officer - Bridgehampton New York - Floor plan - Dining room Source: Dealbreaker | 22 May 2009 | 5:47 pm Downer mulls bond offerThe New Zealand unit of Australian engineering contractor Downer EDI is considering the sale of a New Zealand dollar three-year senior bond offer. UBS has been appointed to structure the offer and a joint lead group is expected...Source: New Zealand Herald - Business | 22 May 2009 | 5:30 pm Credit is a double-edged swordCredit cards seem to be the scourge of the consumer these days. But LA Times columnist Meghan Daum insists that plastic isn't all bad. In fact, it's helped her through some pretty rough times.Source: Marketplace Money | 22 May 2009 | 5:24 pm Descending from a pillar of debtWhen Sabrina Reigel moved to Southern California, she had no friends, lots of free time, and quickly racked up $40,000 worth of credit card debt. She talks about how she worked down her massive premium without losing her sanity.Source: Marketplace Money | 22 May 2009 | 5:24 pm Ushering in a new era for creditCongress just passed a credit card consumer's bill of rights. But how will this new law protect card holders? Tess Vigeland and Connecticut Sen. Chris Dodd discuss the ins and out of the legislation.Source: Marketplace Money | 22 May 2009 | 5:23 pm It's an automobile buyer's marketThe auto industry has been through some pretty tough times as of late. But Phil Reed of Edmunds.com says these harsh economic days equal better deals for consumers on the lookout for their next car or truck.Source: Marketplace Money | 22 May 2009 | 5:23 pm Credit bill of rights roundtableSo how will this new credit card bill of rights directly affect consumers? Tess Vigeland welcomes a variety of experts to sound off about the pros and cons about the new law.Source: Marketplace Money | 22 May 2009 | 5:23 pm Small talk: Airlines, Canada, PringlesMarketplace's Brendan Newnam and Rico Gagliano talk with fellow staffers Jeremy Hobson, Phyllis Owens and Stacey Vanek-Smith about their favorite under-the-radar business stories this week: Air New Zealand matchmaking, college students heading to Canada, and Pringles potato chips.Source: Marketplace | 22 May 2009 | 5:17 pm New law forces some pools to pull plugThe Memorial Day weekend is when many public swimming pools open up for the unofficial start of summer. But several pools may remain closed for part of the season due to a new law. Lisa Napoli reports.Source: Marketplace | 22 May 2009 | 5:17 pm How retailers plan to lure shoppersMemorial Day weekend traditionally marks some of the deepest discounts of the year. But in a recession, prices are already low. What can retailers do to attract shoppers? Joel Rose reports.Source: Marketplace | 22 May 2009 | 5:17 pm New TV ads to stand out this fall seasonThe major TV networks have wrapped up their advertising presentations at this year's upfront. MediaWeek's Michael Burgi talks with Kai Ryssdal about how some networks are trying to snare ad money by promising new ways to make ads stand out.Source: Marketplace | 22 May 2009 | 5:17 pm Weekly Wrap: A reality checkT. Rowe Price's Andy Brooks and Fortune magazine's Leigh Gallagher talk with Kai Ryssdal about how to characterize what's going on in the market, and double checking optimism in the economy.Source: Marketplace | 22 May 2009 | 5:17 pm China beats U.S. fiscal stimulus planAs the U.S. grapples with its first climate change bill, commentator Todd Buccholz says it could learn a lot from China's ambitious climate agenda and its stimulus plan.Source: Marketplace | 22 May 2009 | 5:17 pm Is life a beach for Maryland store?Many people take the time to get away on Memorial Day weekend. Is it the same during a recession? Perry Pillas owns a beachfront store in Maryland and talks with Kai Ryssdal about how his business is doing.Source: Marketplace | 22 May 2009 | 5:17 pm The dollar is losing some of its strengthThe U.S. dollar was remarkably solid during much of the past year. But now the greenback has hit a low for the year and is on track for its biggest weekly fall in two months. Jeremy Hobson reports.Source: Marketplace | 22 May 2009 | 5:17 pm Rig Counts Making Oil Supply Drops Self-Fulfilling (BHI)We have just seen the newest weekly data from Baker Hughes, Inc. (NYSE: BHI). It is surprising how the rig count keeps heading lower and lower despite oil prices having risen so much. It seems on some weeks that this is stabilizing and that trend may be the ultimate case for stabilization or at least [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 5:13 pm Michael Moore Presents: Financial Weapons of Mass Destruction...The Musical!
Related: Lehman Brothers - Comedy - Arts - Performing Arts - Adult Source: Dealbreaker | 22 May 2009 | 5:10 pm Unique Green Incentive: No Sales Tax on Energy Star AppliancesWhether your goal is to go as green as possible regardless of costs or if the goal is to simply cut down on utility expenses, appealing to everyone’s pocketbook is generally an incentive that works. This Memorial Day weekend throughout the State of Texas, there is a sales tax holiday on top of a 3-day [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 4:56 pm Archer Daniels Raised to `Hold' at CitigroupSource: Bloomberg - All Podcasts | 22 May 2009 | 4:55 pm Not So Fast, SparkyIt is, of course, the goal of everyone involved to shift businesses with large government stakes back into the private sector quickly. The question is, how do we define "quickly," exactly. How about almost two decades? GMAC LLC, which is giving the U.S. Treasury Department a 35.4 percent equity stake, said on Friday it might take 17 years for the government to shed its investment if the auto and mortgage lender were to go public. The reality is that if time lines like this are the only realistic alternative, we should consider another option: Punt. Directly related to this issue is a missive on credit penned by Megan McArdle recently. She closes with: But maybe it's worth remembering that the tyranny that credit scores exercise over our imagination have everything to do with the fact that we've built a society so utterly dependent on credit. If you didn't need a credit card, an auto loan, and probably a mortgage to be considered middle class in this society, these opaque and unresponsive bureaus wouldn't be the most important source of information about us. Of course, we recognize that to save UAW jobs you have to save car companies and that means boosting car company revenue and that means getting consumers to buy more cars than the situation would generally warrant and that means providing them (all of them) with loads of cheap debt to finance their purchases and that means subsidizing loans and that means saving GMAC no matter what the cost and even if it takes 18 years, $750,000 per UAW job and hundreds of lives. We also recognize that this is supposed to be the brilliant "new way" to reform crony capitalism. We repeat: Punt. U.S. could take 17 years to exit GMAC after an IPO [Reuters]
Related: United States - United Auto Workers - United States Department of the Treasury - GMAC - Business Source: Dealbreaker | 22 May 2009 | 4:50 pm Baker Says U.S. Long-Term Problem Is HealthcareSource: Bloomberg - All Podcasts | 22 May 2009 | 4:47 pm Cool car tech that saves gasHere's a look at what the automakers have up their sleeve to meet President Obama's tough fuel economy mandate.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 4:44 pm London stocks up at close (AFP)
Source: Yahoo! News: Business | 22 May 2009 | 4:43 pm London stocks up at close (AFP)
Source: Yahoo! News: Stock Markets News | 22 May 2009 | 4:43 pm A Central Florida Sell-Off
Sold equipment, 2007 vs. 2008 Craig Vorster works in road construction in Central Florida. When the company has more equipment than it needs, it sells the extra. In 2007, as you can see from the folder on the left, it sold not so much. But in 2008? "The handwriting was really quite on the wall," Vorster says. The work was drying up, and the company started selling off equipment, a move reflected in the larger folder on the right. And the guy whose job it was to sell the old stuff? Vorster says he was laid off. Now, with the federal stimulus money trickling in, Vorster says he's hearing about new work orders. But the construction companies are so desperate that they're offering amazingly low prices, he reports, with jobs the state transportation department lists at $10 million drawing multiple bids for half that. "It's really quite scary when you look at it," he says. He predicts a continued struggle for stretched builders and more headaches for the municipalities that hire them. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 22 May 2009 | 4:39 pm Building societies' ratings cutCredit ratings agency Fitch has downgraded five UK building societies' long-term outlook amid weak economic conditions.Source: BBC News | Business | World Edition | 22 May 2009 | 4:30 pm Auctioneer expects lossAuctioneer and stamp dealer Mowbray Collectables is expecting a modest loss for the year to the end of March, but says its core operations continue to trade profitably and to budget. In an update yesterday, the company said the...Source: New Zealand Herald - Business | 22 May 2009 | 4:30 pm Ader Says U.S. Has Highest Real Yield Versus Rest of WorldSource: Bloomberg - All Podcasts | 22 May 2009 | 4:29 pm Unemployment rate down in 21 statesThe employment situation in the states showed signs of stabilizing last month.Source: Business and financial news - CNNMoney.com | 22 May 2009 | 4:26 pm Most banks will repay TARP by Q4: Morgan StanleyNEW YORK (Reuters) - Most U.S. banks will repay government bailout funds by the fourth quarter of 2009, and banks will likely issue more stock over the next few quarters, analysts at Morgan Stanley said.Source: Reuters: Business News | 22 May 2009 | 4:25 pm The Capitalist Conflict
With bank failures at a 15-year high, private equity firms have been clamoring to buy the ailing institutions recently, but have run up against regulatory restrictions and public criticism. Hypocrisy aside, we understand the urge to regulate... well... everything. But why look a cash-cow in the mouth? After the failure of BankUnited it is hard for us to imagine any roadblocks that make sense to erect. All we need now is for KKR to insist this "isn't the business we are in," right before closing deals on five failed banks. F.D.I.C. to Issue Guidelines for P.E. Firms on Bank Deals [Dealbook]
Related: Business - Federal Deposit Insurance Corporation - United States - Bank failure - Private equity Source: Dealbreaker | 22 May 2009 | 4:19 pm Playboy Buyout Talk, Difficult Valuations (PLA)Playboy Enterprises Inc. (NYSE: PLA) is sitting in a tough spot. This morning there is a report that the company has the bunny franchise up for sale. We have looked at this very notion in the past with too many issues over its valuation long before the media and market meltdown took this down to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 4:00 pm Wine hangover - lessons from OzIt's bargain time for wine shoppers but a bumper grape harvest last year has left vineyards up for sale and grapes rotting on the vines. Good weather and land coming into production helped boost the 2008 grape harvest by 39 per...Source: New Zealand Herald - Business | 22 May 2009 | 4:00 pm Pioneering Otago vineyard finds the going too toughOne of Central Otago's pioneering vineyards first planted in 1973 has been placed in receivership as wineries in the area feel the pinch. William Hill Winery was put into the hands of receivers this week although it is still trading. Accountant...Source: New Zealand Herald - Business | 22 May 2009 | 4:00 pm Higher speeds - but higher costs tooBroadband users in the main cities can expect juiced-up internet speeds later this year - but they will come at a price. Telecom Wholesale - responsible for selling the company's network capacity to other telcos including its own...Source: New Zealand Herald - Business | 22 May 2009 | 4:00 pm No economic crisis, says Nobel laureateNobel Peace Prize laureate Lech Walesa, 65, says he does not believe the world is living through a major economic crisis. Instead, the former Polish President sees problems in the global banking sector that require structural reform. Walesa,...Source: New Zealand Herald - Business | 22 May 2009 | 4:00 pm Brian Gaynor : Low rating for managed funds is no surpriseMorningstar's assessment of the New Zealand investment fund sector is spot on. Its 118 page report, which is called Global Fund Investor Experience, gives us a D- and we are ranked last out of 16 countries. Perhaps the only...Source: New Zealand Herald - Business | 22 May 2009 | 4:00 pm 'Give it a go, bro' aims to defeat the doom merchants"Give it a go, bro" is about giving people the means to change their attitude, say its promoters. The slogan sums up the top concept to come out of this week's Entrepreneurial Summit, a gathering of over 100 businesspeople tasked...Source: New Zealand Herald - Business | 22 May 2009 | 4:00 pm Effects of drought still felt in AustraliaAustralia's crop production has risen overall but is still one of the lowest in five years because of the lingering effects of the drought, figures show. The Australian Bureau of Statistics (ABS) said that while overall crop production...Source: New Zealand Herald - Business | 22 May 2009 | 4:00 pm A Citi Shareholder Is Born
Related: Richard Parsons - Citibank - Business - Stuffed animal - Chief executive officer Source: Dealbreaker | 22 May 2009 | 3:53 pm AAPL Weekly Headline Roundup: May 22Our weekly headlines from 24/7 Wall St. partner Apple Investor News: • Analyst Comment of the Week: our favorite AAPL analyst, Piper Jaffray’s Gene Munster, speculated on Thursday that the much-rumored Apple tablet, or netbook competitor, will likely not be introduced until 2010. He cites component sources in Asia and recent chip-related hires as proof Apple [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 3:49 pm Presented By:Source: Dealbreaker | 22 May 2009 | 3:21 pm KKR Don't Need No Stinkin' Leverage (Other Government Cheese OK)
Still, it is hard to blame KKR for wanting to play. Accepting free money handed out without thought to risk or reward by dimmer bulbs is, after a certain sense, what private equity is all about. Kravis argues the point (unconvincingly). KKR could take advantage of the infrastructure stimulus plan but is less interested in buying banks or their troubled assets, co-founders Henry Kravis and George Roberts have told the Financial Times. Of course this is totally ridiculous. This is exactly what private equity firms do and if the government had been offering buyout artists even a tenth of a percent lower rates than the leveraged finance groups that multiplied like rabbits over the last fifteen years the Treasury would now labor under a balance sheet bloated with large swaths of now-private businesses in or approaching default. KKR sets out stall for role in stimulus package [The Financial Times]
Related: Financial Times - Kohlberg Kravis Roberts - Business - Private equity firm - Henry Kravis Source: Dealbreaker | 22 May 2009 | 3:21 pm Kasman Says U.S. Credit Rating Downgrade Is `Very Unlikely'Source: Bloomberg - All Podcasts | 22 May 2009 | 3:20 pm 'No Dirt Under The Barstools'From Frankfort, Ill., news of an Irish pub that's closing because construction workers are no longer coming in. Contractors building homes and commercial buildings in the Lincoln-Way area would drop in for lunch, and the dirt and mud clinging to their work boots would collect under chairs and barstools, said [Niall] Freyne, owner of Galway Tribes. "Now there is no dirt under the barstools," he said Wednesday. Last call's slated for May 30. Nationwide housing starts are running 54.2 percent below last year's pace. The leg bone's connected to the shin bone, I guess, and one of the toes is in Freyne's bar. After the jump, another look at building in the region. A listener in Gurnee, Ill., between Chicago and Milwaukee, sent the graph below. He's been working in the village hall, where he says they're no longer getting inquiries about building on local land. In the chart, you can see that when the builders stopped building, the village lost revenue. 
Click to enlarge: Construction has fallen by half in Gurnee, Ill., and with it municipal revenue from permits. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 22 May 2009 | 3:08 pm Analysts: Tweaks May Not Save Congress’ Failed Foreclosure Fixby Alexandra Andrews, ProPublica The Hope for Homeowners program was created by Congress last summer to help an estimated 400,000 homeowners avoid foreclosure. But it could more aptly be called the Hope for A Homeowner program, given that just one has used it successfully since its October launch. But silver linings are hard to come by these [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 3:05 pm High costs fuel record loss at BABritish Airways announces an annual pre-tax loss of £401m, after being hit by the weak pound and higher fuel costs.Source: BBC News | Business | World Edition | 22 May 2009 | 2:51 pm Farrell Concerned on `Big Jump' in 10-Year TreasurySource: Bloomberg - All Podcasts | 22 May 2009 | 2:51 pm China to Blame for Higher Crude Prices?Today’s FT energy blog includes a post claiming that China is responsible for recent rises in crude prices because it is building its strategic petroleum reserve. The post cites satellite imagery showing more tanker traffic into Chinese ports near strategic reserve storage tanks. This is not news. China’s intentions in this regard have been well known [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 2:28 pm Stamenkovic Sees U.S. Tightening Fiscal Position on RecoverySource: Bloomberg - All Podcasts | 22 May 2009 | 2:25 pm Honda staff vote for 3% pay cutWorkers at Honda's Swindon plant vote in favour of taking a 3% pay cut for ten months in an attempt to safeguard 490 jobs.Source: BBC News | Business | World Edition | 22 May 2009 | 2:12 pm Laidi Sees Inflation Pressures With Global Commodities DemandSource: Bloomberg - All Podcasts | 22 May 2009 | 2:10 pm U.S. could take 17 years to exit GMAC after an IPO (Reuters)
Source: Yahoo! News: Business | 22 May 2009 | 2:00 pm Amplitude CEO Schroeder Sees U.S. Stock Market Sell-OffSource: Bloomberg - All Podcasts | 22 May 2009 | 1:56 pm Refiners in for More Trouble? (VLO, TSO, MRO, HES)This week’s report from the Energy Information Administration noted that “strong supply availability from refiners now running at low utilizations in both Europe and the U.S. is likely to moderate gasoline price increases this summer.” That statement may be true, but even if it is, refiners could still be squeezed before the leaves begin to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 22 May 2009 | 1:53 pm This Week’s Weird Jobs
In a difficult market, it pays to have a variety of skills. But, as this week’s weird jobs prove, some skills simply do not mesh. For example, a drill sergeant would not make a good Director of First Impressions, or psycho social rehab worker… 1. San Diego: odd jobs in La Jolla * Compensation: $5 min per job or $15 per hour whichever is less I’m not a miser, I swear. I’m just a senior who hasn’t adjusted for inflation. 2. San Diego: Director of First Impressions Searching for a professional, motivated, personable, energetic and organized individual for “Director of First Impressions” at our health and wellness center. The individual should have at least 1 year experience working as a receptionist. SKILLS: This job posting instantly turned a run-of-the-mill receptionist into a director. Now that is good spin. 3. San Diego: Sign Spinners Needed Seeking Enthusiastic, Friendly, Energetic Sign Spinners. Must be willing to have fun and smile while working! * Compensation: $ 8.00 Per Hour Paid Daily Must be willing to smile while working…but none of your colleagues do, so what we’re really asking for are strong wrists and the ability to look like a tool. 4. Las Vegas: Drill Sgt. Prior Service Soldiers needed to fill Reserve Drill Sgt positions in Las Vegas, NV. We will select winning applicants on the basis of their ability to scare our pants off. 5. Las Vegas: Psycho Social Rehabilitation Worker Needed Staff will primarily focus on rehabilitative mental health services that target the specific behaviors of our clientele, which may include: behavioral management and counseling; conflict and anger management; interpersonal skills development; interventions with schools and social service systems. May not have been arrested, charged, or convicted of a crime within the last 5 years Must be adept at stalking, crank calling, and slashing tires. Happy Friday!
Source: Business Pundit | 22 May 2009 | 1:05 pm European stocks recover ahead of expected US gains (AP)
Source: Yahoo! News: Stock Markets News | 22 May 2009 | 12:22 pm Emirates airline profits down 72%Emirates Airline, the largest airline in the Middle East, has reported a fall in profits of 72% for the 2008/09 fiscal year.Source: BBC News | Business | World Edition | 22 May 2009 | 12:06 pm Hummer FAIL
Source: Business Pundit | 22 May 2009 | 11:26 am Asian 'superman' warns on sharesOne of Asia's richest men, Li Ka-shing, warns of a stock market bubble in Hong Kong.Source: BBC News | Business | World Edition | 22 May 2009 | 11:26 am
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