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Japan drafts record budget as PM battles scandalTOKYO (Reuters) - Japan approved on Friday a record budget for next year that will inflate the country's already huge debt by $484 billion, as the prime minister vowed to battle on in the face of a growing scandal and sliding poll ratings.Source: Reuters: Business News | 25 Dec 2009 | 3:14 am Japan drafts record budget as PM battles scandal (Reuters)Reuters - Japan approved on Friday a record budget for next year that will inflate the country's already huge debt by $484 billion, as the prime minister vowed to battle on in the face of a growing scandal and sliding poll ratings.Source: Yahoo! News: Business | 25 Dec 2009 | 3:14 am Geely will keep Volvo running as is: reportBEIJING (Reuters) - China's Geely would barely lay a finger on Ford Motor Co's Volvo if it succeeds in acquiring the Swedish luxury car brand, the firm's top executive was quoted by state media as saying on Friday.Source: Reuters: Business News | 25 Dec 2009 | 3:05 am Geely will keep Volvo running as is: report (Reuters)Reuters - China's Geely would barely lay a finger on Ford Motor Co's Volvo if it succeeds in acquiring the Swedish luxury car brand, the firm's top executive was quoted by state media as saying on Friday.Source: Yahoo! News: Business | 25 Dec 2009 | 3:05 am US extends financial guarantees to mortgage giants (AFP)
Source: Yahoo! News: Business | 25 Dec 2009 | 2:48 am Koss fires aide over `unauthorized transactions'Koss Corp. dismisses its vice president of finance after it discovered "unauthorized financial transactions."
Source: MarketWatch.com - Top Stories | 25 Dec 2009 | 2:19 am Animal welfare victories prompt farmers' PR movesConsumers have been led for years to believe California cows are happy, which is why many were sickened when images surfaced of a washed-up milker, too weak to stagger to slaughter, rolled,Source: RSS feed - channel BNewsBusiness | 25 Dec 2009 | 1:26 am Animal welfare victories prompt farmers to changeRecent successes by the Humane Society of the United States in securing protections in some states for chickens, pigs and veal calves have prompted the dairy industry to launch a PR...Source: RSS feed - channel BNewsBusiness | 25 Dec 2009 | 1:10 am Rabbit ears make comeback in digital TV eraSouthland viewers are finding they can get nearly three times as many channels as they once could with an antenna. And best of all, they're free. ...Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am The ghosts of Swedish Christmas ne'er to beThe sporty, top-shelf Cadillac SRX Turbo shares the sibling Saab's running gear: a 2.8-liter, 300-hp turbocharged V-6, six-speed automatic and Haldex-supplied all-wheel-drive system.By now you're sitting alone near the fire in your Scandinavian bentwood chair, in the cable-knit sweater your Swedish girlfriend gave you when you were at Oxford, and you're halfway through a bottle of Aquavit. Or is it Aqua Velva? Perhaps you're trying to take your mind off things -- catching up on back issues of Dwell, or firing off a strongly worded letter to the New Yorker: I object to Joan Acocella's rough treatment of Peter Ackroyd's translation of Chaucer. . . . You've barely touched your moose sandwich.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am Hard-hit longshoremen turn generosity inwardTraffic -- and work -- at the ports of L.A. and Long Beach have dropped dramatically. The union gives holiday handouts to needy locals, but this year it's helping its own members too. ...Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am Apple stock soars to all-time highAmid speculation about a forthcoming tablet computer, the company's shares have risen 145% this year.Santa arrived early for Apple Inc. shareholders: The stock surged $6.94, or 3.4%, on Thursday to close at a record high of $209.04. That topped the previous closing high of $207 on Nov. 17.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am Christmas weekend could be biggest in box-office historyWith five movies opening or expanding nationwide and 'Avatar' still doing strong business, the question for nearly every major studio is just how much money there is on the table.When "Sherlock Holmes" producer Joel Silver ran into "Avatar" director James Cameron this month in London, where both were promoting their movies, there was an undeniable tinge of rivalry.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am Fannie Mae, Freddie Mac CEOs could each earn $6 million a yearMichael Williams at Fannie and Charles E. Haldeman Jr. at Freddie will each receive a base salary of $900,000 in 2009 and 2010. They could get $5.1 million more if certain targets are met. ...Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am Hard-hit longshoremen turn generosity inwardTraffic -- and work -- at the ports of L.A. and Long Beach have dropped dramatically. The union gives holiday handouts to needy locals, but this year it's helping its own members too.Several times, the small boy at the union toy giveaway looked over his shoulder at Steve Roldan and then back at the Hot Wheels V-Drop Super Velocity Track Set.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am 30-year fixed mortgage rate rises above 5%The average interest rate on a 30-year fixed mortgage this week rose above 5% for the first time since Halloween.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am Fannie Mae, Freddie Mac CEOs could each earn $6 million a yearMichael Williams at Fannie and Charles E. Haldeman Jr. at Freddie will each receive a base salary of $900,000 in 2009 and 2010. They could get $5.1 million more if certain targets are met.The chief executives of Fannie Mae and Freddie Mac each could earn as much as $6 million this year and next, despite huge continued losses at the seized mortgage giants and a government bailout tab of more than $100 billion that the Obama administration said could rise even higher.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am Rabbit ears make comeback in digital TV eraSouthland viewers are finding they can get nearly three times as many channels as they once could with an antenna. And best of all, they're free.On a recent winter night, while neighbors strung their Baldwin Park homes with Christmas lights, the Lams and their three children sat in front of a television set with rabbit ears sprouting out of the top.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am Stocks end shortened session at new 2009 highsStocks ended a holiday-shortened session Thursday at new highs for the year following upbeat reports on unemployment and durable goods orders.Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am 30-year fixed mortgage rate rises above 5%The average interest rate on a 30-year fixed mortgage this week rose above 5% for the first time since Halloween.Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am Christmas weekend could be biggest in box-office historyWith five movies opening or expanding nationwide and 'Avatar' still doing strong business, the question for nearly every major studio is just how much money there is on the table. ...Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am Spirits not so bright this holiday seasonLiquor companies' sales fall as consumers go out less and opt for cheaper brands.The people running the nation's large liquor companies may need a few stiff drinks right about now.
Source: L.A. Times - Business | 25 Dec 2009 | 1:00 am The ghosts of Swedish Christmas ne'er to beThe sporty, top-shelf Cadillac SRX Turbo shares the sibling Saab's running gear: a 2.8-liter, 300-hp turbocharged V-6, six-speed automatic and Haldex-supplied all-wheel-drive system. ...Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am Spirits not so bright this holiday seasonLiquor companies' sales fall as consumers go out less and opt for cheaper brands. The people running the nation's...Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am Business BriefingYoubet.com shares are undervalued, lawsuit says COURTSSource: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am Apple stock soars to all-time highAmid speculation about a forthcoming tablet computer, the company's shares have risen 145% this year. Santa arrived...Source: RSS feed - channel BNPaperBusiness | 25 Dec 2009 | 1:00 am UPDATE 2-Nippon Oil, Nippon Mining announce CDU capacity cuts* Capacity to be cut by 400,000 bpd to 1.39 mln bpd by 2011Source: RSS feed - channel BNewsBusiness | 25 Dec 2009 | 12:49 am China revises 2008 GDP higher by 4.5%China’s government said Friday its gross domestic product was 4.5% larger in 2008 than it had previously estimated, bringing the nation into a position where it could soon overtake Japan as the world’s second-largest economy.
Source: MarketWatch.com - Top Stories | 25 Dec 2009 | 12:11 am Nippon Oil plans Jan crude refining +1 pct y/yTOKYO, Dec 25 (Reuters) - Nippon Oil Corp. plans to refine 5.36 million kilolitres of crude oil in January, up 1 percent from a year earlier, a company executive said on Friday.Source: RSS feed - channel BNewsBusiness | 25 Dec 2009 | 12:09 am Asian shares soft in holiday trade, dollar steadyTOKYO (Reuters) - Shares in Tokyo slipped on Friday as investors took profits in trade thinned by the Christmas break in many other markets, while Shanghai fell and the dollar hung near its highs of the month after goods and jobless claims data.Source: Reuters: Business News | 25 Dec 2009 | 12:09 am Asian shares soft in holiday trade, dollar steadyTOKYO (Reuters) - Shares in Tokyo slipped on Friday as investors took profits in trade thinned by the Christmas break in many other markets, while Shanghai fell and the dollar hung near itsSource: RSS feed - channel BNewsBusiness | 25 Dec 2009 | 12:09 am Chinese dissident sentenced to 11 years in jailOne of China’s leading dissidents was sentenced to 11 years in prison for “inciting subversion of state power”, in a case that has sparked a sharp confrontation over human rights between the west and BeijingSource: Financial Times - US homepage | 24 Dec 2009 | 11:32 pm China revises up 2008 economic growthChina announced on Friday that the country's economy grew by 9.6 percent in 2008, up from a previously announced figure of nine percent. The latest national economic census found the...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 10:48 pm China revises up 2008 growth to 9.6 per centChina revised up its 2008 growth rate to 9.6 per cent, taking it well above the originally reported 9.0 per cent after calculating that the service sector had been more productive than previously thoughtSource: Financial Times - US homepage | 24 Dec 2009 | 10:34 pm Nippon Oil, Nippon Mining announce CDU capacity cutsTOKYO, Dec 25 (Reuters) - Nippon Oil Corp , Japan's top refiner and merger partner Nippon Mining Holdings Inc announced on Friday details of their plans to cut oil refining capacity by 400,000 barrels...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 10:23 pm IPO VIEW-Outlook for healthcare IPOs improvingNEW YORK, Dec 25 (Reuters) - Healthcare companies are lining up to go public, and they could get a warmer reception in 2010 as investors' risk appetite increases, and new legislation potentially leads...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 10:16 pm Family Travel: The New PerksWith business travel still slow, families are the new VIPs.
Source: SmartMoney.com | 24 Dec 2009 | 10:00 pm Economic Report: Japan unemployment up, deflation grows in NovemberJapanese data paint a mostly dim picture of the economy, with unemployment gaining slightly and deflation rising, albeit in line with expectations.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 8:47 pm Toyota to recall 43,000 cars in ChinaJapan's Toyota Motor Corp. is recalling about 43,000 cars in China due to a defect that may cause engine oil to leak, a company spokesman said Friday. The recall affects four models, theSource: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 8:45 pm Market Snapshot: U.S. stocks week ahead: Lunge toward the finish?Trading next week is likely to be even lighter than it has in recent sessions, meaning any surprises in economic data could provide for more pronounced swings for stocks.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 8:39 pm Japan PM under fire over budget scandalTOKYO (Reuters) - Prime Minister Yukio Hatoyama came under fire over a funding scandal on Christmas Day, with Japanese media speculating that he might have to step down if voters found his...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 7:34 pm Treasury removes cap for Fannie and Freddie aid (AP)
Source: Yahoo! News: Business | 24 Dec 2009 | 7:16 pm Two Southern California men accused of investment fraudRegulators obtain an injuction against the pair they say diverted nearly half of the $10 million they collected from investors to put into mobile home parks and used it for day trading.Federal regulators said Thursday that they obtained a preliminary injunction against two Southern California men accused of defrauding investors who put nearly $10 million into a fund to invest in mobile home parks.
Source: L.A. Times - Business | 24 Dec 2009 | 6:42 pm Christmas wishes from IraqContingency Operating Base Speicher is a U.S. Army base in Northern Iraq. Correspondent Jake Warga went there to see what some of the soldiers want for Christmas.Source: Marketplace | 24 Dec 2009 | 4:26 pm Mutual Funds Weekly: It's time for investors to trust againWhat makes investing so difficult is that much of it is beyond our control. The fact is that individually we have no real say over the economy or the financial markets or the decisions that professional money managers make. Trust is all we have, and over the past couple of years that faith has been sorely tested.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 3:54 pm US mortgage bosses may earn $6mThe heads of bailed-out US mortgage giants Fannie Mae and Freddie Mac may each be paid up to $6m (£3.7m) for 2009.Source: BBC News | Business | World Edition | 24 Dec 2009 | 3:50 pm Treasury uncaps credit line for Fannie, FreddieWASHINGTON (Reuters) - The Obama administration pledged on Thursday to back beleaguered mortgage finance giants Fannie Mae and Freddie Mac no matter how big their losses may be in the next three years.Source: Reuters: Business News | 24 Dec 2009 | 3:11 pm NewsWatch: U.S. indexes close at 2009 highsIf the Dow holds its level through the close, it will reach a new 2009 closing high. Its highest close so far this year was at 10,501.05 on Dec. 14.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 3:05 pm Madoff being treated for dizzyness, hypertensionConvicted swindler Bernard Madoff is being treated for "issues relating to dizziness and hypertension" at the medical facility of the prison where he is incarcerated, according to the Federal Bureau of Prisons.Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 3:01 pm A jolly holiday for mortgage bossesFor top executives, 'tis the season to get paid in company stock - unless you happen to work at Fannie Mae or Freddie Mac.Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 2:19 pm Key facts on holiday shopping 2009 (AP)AP - Key facts about this holiday shopping season:Source: Yahoo! News: Business | 24 Dec 2009 | 2:00 pm U.S. banks fight plan to share information abroadWASHINGTON (Reuters) - A U.S. financial crime agency's plan to let foreign police seek information from American banks is drawing opposition from groups representing U.S. financial institutions.Source: Reuters: Business News | 24 Dec 2009 | 1:50 pm Corrections: Investor sentiment bullish, but off highsA MarketWatch story Thursday on investor sentiment surveys incorrectly spelled the name of John Kolovos of Concept Capital. The story has been corrected.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 1:43 pm Investor sentiment bullish, but far from stampedeThe portion of investors who say they expect stocks to keep rising shows bullish sentiment has yet to reach 2007 highs, suggesting to some analysts the rally has more room to run.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 1:26 pm Stocks end shortened session at new 2009 highs (AP)
Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 1:23 pm Weekend Investor: How to keep your finances on track in 2010If there’s any consolation for investors from the past 18 months, it’s that many people now pay more attention to their total financial picture -- not just stock and bond investments, but saving and spending habits as well.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 1:03 pm Durable orders up, jobless claims at 15-month lowWASHINGTON (Reuters) - New orders for long-lasting U.S. manufactured goods, excluding transportation items, surged in November and new applications for jobless aid hit the lowest level in 15 months last week, pointing to a firmly entrenched economic recovery.Source: Reuters: Business News | 24 Dec 2009 | 12:57 pm How the major stock indexes fared on Thursday (AP)AP - Stocks ended a holiday-shortened session Thursday at new highs for the year following upbeat reports on unemployment and durable goods orders. A weaker dollar also helped buoy the market, lifting energy and materials stocks. Christmas Eve trading was extremely light. The encouraging signs of the labor market and consumer demand helped assuage investors, who were disappointed the day before by an unexpected plunge in new home sales last month.Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 12:38 pm Data lifts stocks to 2009 highs on Christmas Eve (Reuters)
Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 12:33 pm Data lifts stocks to 2009 highs on Christmas Eve (Reuters)
Source: Yahoo! News: Business | 24 Dec 2009 | 12:33 pm Data lifts stocks to 2009 highs on Christmas EveNEW YORK (Reuters) - U.S. stocks rallied in a brief pre-holiday session on Thursday, closing at 2009 highs, after data showing a drop in initial jobless claims and growth in durable goods orders suggested an economic recovery was picking up steam.Source: Reuters: Business News | 24 Dec 2009 | 12:33 pm Futures Movers: Oil rises above $78 mark; natural gas turns lowerIn pre-holiday trading, crude futures reclaim the $78-a-barrel mark, although market concerns remain that petroleum demand will stay weak. Data showing natural gas in greater abundance than had been anticipated turn the fuel's benchmark contract lower.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 12:26 pm Stocks end at new 2009 highsStocks ended a holiday-shortened session higher Thursday, with indexes climbing to new highs for the year after upbeat reports on the labor market and durable goods orders fueled optimism about the economic recovery.Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 12:21 pm Regulator approves millions for Fannie, Freddie execsWASHINGTON (Reuters) - The top U.S. housing regulator said on Thursday it approved 2009 pay packages of up to $6 million each for the chief executives of government-controlled mortgage giants Fannie Mae and Freddie Mac.Source: Reuters: Business News | 24 Dec 2009 | 12:20 pm Bernard Madoff is moved to jail's medical wingBernard Madoff, the $65 billion swindler, has been moved to a low-security medical centre at the North Carolina prison where he is jailed.$ Source: Latest Business News from Times Online | 24 Dec 2009 | 12:13 pm Stocks extend gains on U.S. data; dollar slips (Reuters)
Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 12:11 pm More registers ringing this holiday seasonAmericans probably gifted retailers modestly better sales this year compared to a disastrous 2008. Still, that's no guarantee that consumers' shop 'til you drop mentality is back.Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 12:10 pm Government probes banks on sale of risky securities: report (Reuters)Reuters - U.S. regulators and legislators are investigating whether Wall Street investment banks deliberately sold risky structured securities to clients, and then bet on the securities failing, The New York Times reported on Wednesday.Source: Yahoo! News: Business | 24 Dec 2009 | 12:04 pm Government probes banks on sale of risky securities: reportBANGALORE (Reuters) - U.S. regulators and legislators are investigating whether Wall Street investment banks deliberately sold risky structured securities to clients, and then bet on the securities failing, The New York Times reported on Wednesday.Source: Reuters: Business News | 24 Dec 2009 | 12:04 pm Apple shares hit new high on tablet excitement (Reuters)Reuters - Apple Inc shares reached their all-time high on Thursday as excitement builds over the expected release of its tablet computer.Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 12:04 pm Free shipping! Rhode Island's eBay playNeed a diamond pinky ring or a gold dog pin with ruby eyes?Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 11:53 am Durable orders up, jobless claims at 15-month low (Reuters)
Source: Yahoo! News: Business | 24 Dec 2009 | 11:51 am Lee Buchheit Discusses Sovereign Debt, Default: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 11:47 am Stalled condo projects dot NYCNew York City's construction boom went bust so fast some of the condominium buildings are standing unfinished. But proposals to turn them into affordable housing units have been a tough sell. Alisa Roth reports.Source: Marketplace | 24 Dec 2009 | 11:47 am Divorced couples aren't the half of itCommentator Betsey Stevenson says that, despite all the bad news this year, something positive is going on -- the U.S. divorce rate is now the lowest it's been in 30 years.Source: Marketplace | 24 Dec 2009 | 11:47 am Town rises against prince's bright ideaOne of Germany's wealthiest families wants to cash in and build a giant solar park on its land. But residents of a nearby town are saying nicht in my backyard. Kyle James reports.Source: Marketplace | 24 Dec 2009 | 11:47 am Weekly WrapMegan McArdle of The Atlantic magazine and Mike Mandel, author of the textbook "Economics: The Basics" size up the week in business with Kai Ryssdal.Source: Marketplace | 24 Dec 2009 | 11:47 am States pitch bonds to foreign buyersCash-strapped state and local governments this year have sold more than $60 billion worth of Build America Bonds, subsidized by the U.S. Treasury. To drum up interest in their debt, states are taking their marketing message overseas. Amy Scott reports.Source: Marketplace | 24 Dec 2009 | 11:46 am Health bill would offer high-risk poolMany major provisions in the House and Senate health care reform bills wouldn't take effect for a long time after passage. But one part that would start right away could help unstick the economy -- if it works. Gregory Warner reports.Source: Marketplace | 24 Dec 2009 | 11:46 am Saab deal hopes fade, GM presses on with wind downDETROIT/AMSTERDAM (Reuters) - General Motors Co is pressing ahead with plans to shut down Saab as chances of a deal to sell the Swedish brand to Dutch sports car builder Spyker Cars remain remote, a person familiar with the planning said on Thursday.Source: Reuters: Business News | 24 Dec 2009 | 11:44 am Gordon Smith Discusses Revision of Bankruptcy Laws: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 11:44 am US Senate passes key health billThe US Senate passes the final version of a historic healthcare reform bill, in a boost to President Barack Obama.Source: BBC News | Business | World Edition | 24 Dec 2009 | 11:16 am Happy Holidays
The three wise men, in the modern era. Best wishes to all BP readers! Image: Topatoco via PostSecret
Source: Business Pundit | 24 Dec 2009 | 10:53 am Time Warner Cable, Fox talks near 11th hourTime Warner Cable's customers could see Fox disappear from their televisions if the two companies fail to resolve a fee standoff by Dec. 31.Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 10:40 am Senate passes health care reformThe Senate passed a sweeping $871 billion health care reform plan Thursday morning, giving President Barack Obama a major victory on his top domestic priority.Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 10:38 am AAPL hits record high on tablet rumorsSource: Business and financial news - CNNMoney.com | 24 Dec 2009 | 10:26 am Paul Volcker is engaged!News from the Paul Volcker front: No, he has not persuaded the Obama administration to toughen up its policies about the proprietary trading of the big U.S. banks, a move he's been vigorously campaigning for in his job as chairman of the Economic Recovery Advisory Board.Source: Business and financial news - CNNMoney.com | 24 Dec 2009 | 10:16 am A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Thursday:Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 10:05 am Sears & Roebuck Error Led to Today’s NORAD Santa Tracker
Where’s Santa now? The NORAD Santa Tracker lets you see where Santa is delivering gifts in real time on Google Maps. Watch Santa’s flight path on www.noradsanta.org. How did the National Air and Space Operations Center get in charge of tracking Santa? It turns out that an error by Sears & Roebuck was to blame: The tradition began in 1955 after a Colorado Springs-based Sears Roebuck & Co. advertisement for children to call Santa misprinted the telephone number. Instead of reaching Santa, the phone number put kids through to the CONAD Commander-in-Chief’s operations “hotline.” The Director of Operations at the time, Colonel Harry Shoup, had his staff check the radar for indications of Santa making his way south from the North Pole. Children who called were given updates on his location, and a tradition was born. In 1958, the governments of Canada and the United States created a bi-national air defense command for North America called the North American Aerospace Defense Command, also known as NORAD, which then took on the tradition of tracking Santa. Since that time, NORAD men, women, family and friends have selflessly volunteered their time to personally respond to Christmas Eve phone calls and emails from children. In addition, we now track Santa using the internet. Last year, millions of people who wanted to know Santa’s whereabouts visited the NORAD Tracks Santa website. Finally, media from all over the world rely on NORAD as a trusted source to provide Christmas Eve updates on Santa’s journey.
Source: Business Pundit | 24 Dec 2009 | 10:01 am Write-Offs: 12.24.09$$$ Barclays hands out pay rises to investment bankers (some of 150%) [The Guardian] $$$ Goldman Sachs Responds to The New York Times on Synthetic Collateralized Debt Obligations [GS] $$$ A bunch of former Bear Stearns employees got drunk together in midtown. [Bloomberg] $$$ That's it for us. We hope everyone has a great vacation, celebrating the birth of Christ, or whatever you happen to be doing. Very abbreviated scheduled next week, with exceptions made for Bernie dying or sex tapes of a much-loved hedge fund manager surfacing. 
 Source: Dealbreaker | 24 Dec 2009 | 10:00 am Paul Tudor Jones' Christmas Display Still On High Alert
Source: Dealbreaker | 24 Dec 2009 | 9:52 am UBS: Our Coffee Sucks, Too!The Swiss will not be outdone by Goldman or Blackstone: "In keeping with the theme, the coffee at UBS (along with many,many other things) is shit. It tastes like motor oil mixed with bird feces and vinegar. It's Douwe Egberts and the worst part is the machines cost thousands (3 of them on this floor alone). This is midtown, not Stamford, btw."
Source: Dealbreaker | 24 Dec 2009 | 9:40 am Financials Right Under Key Technical Alert Levels (BAC, JPM, WFC, GS, C, FAS, XLF, FAZ)Earlier this week came an alert that a technical event was likely to be seen in the major money center banks and major financial institution stocks pertaining to the 50-day moving averages. After taking a closer look, this is now almost certainly going to come to fruition during the week between Christmas and New Years [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 9:15 am Bernie Madoff Gets Sh*t Beat Out Of Him
* Who did this to him? * What sparked the argument? * Who threw the first punch? * Were the phrases "I'll eat your asshole," "I'll fuck you 'til you love me," "I'll fuck your ass in front of everybody," or "You wouldn't last two minutes in my world, white boy" uttered?
Source: Dealbreaker | 24 Dec 2009 | 9:07 am Iran 'to ban' defaced banknotesIran says defaced banknotes are to be made invalid, after the appearance of opposition slogans on money, local media report.Source: BBC News | Business | World Edition | 24 Dec 2009 | 9:04 am And The Winner Is....By Caitlin Kenney Alex Blumberg has won our second Iron Reporter Competition! You can hear Alex's full piece this afternoon on All Things Considered. We won't be podcasting on Friday, but we'll have a new show for you Monday. Happy holidays. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 24 Dec 2009 | 9:00 am Robert Benmosche's Balls Are Bigger Than The Government's Collective Sack, Says Robert Benmosche
In the ensuing weeks, [of his first day on the job] Mr. Benmosche traveled around the nation meeting hundreds of AIG employees. In August, at a reception prior to a dinner with 20 or so executives at an AIG life-insurance unit in Houston, Mr. Benmosche said "my b -- are bigger than the government's," apparently to make the point that he wasn't easily intimidated, say two people familiar with the matter.
Source: Dealbreaker | 24 Dec 2009 | 8:48 am Senate approves broad healthcare reformPresident Barack Obama’s hopes of overhauling the US’s inefficient and inequitable healthcare system moved a giant step closer to being realised when the Senate passed a sweeping reform bill that would see 94 per cent of Americans with health insuranceSource: Financial Times - US homepage | 24 Dec 2009 | 8:36 am National Grid hires bankers for £5bn EDF bidWith just under 225m shares traded during Thursday's short half day session, dealers had little to do.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 8:30 am Forbes Says Health Legislation `Undermines' Care: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 8:18 am Move Over, BeardAnd suck it, Gretchen Morgenson. Here's the real man of the year.
Master of risk who did God's work for Goldman Sachs but won it little love [FT]
Source: Dealbreaker | 24 Dec 2009 | 8:18 am Rodgin Cohen Discusses U.S. Banks, Housing, Economy: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 8:11 am Return of the Scrooge: No presents this ChristmasSource: Business and financial news - CNNMoney.com | 24 Dec 2009 | 7:58 am The Most Important Economic Indicator In The WorldRose only slightly this year. Recovery? Humbug! All that crap in that annoying Christmas song rose just 0.9% in price this year, buoyed by a 43% increase in gold prices but stymied by a big drop in the price of all kinds of fowl. This year, it would cost $87,402.81 to buy all 78 items.
Source: Dealbreaker | 24 Dec 2009 | 7:52 am Behravesh Sees 2%-2.5% U.S. Economic Growth in 2010: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 7:48 am New US jobless claims unexpectedly fall to 452,000The number of newly laid-off workers filing claims for unemployment benefits fell more than expected last week as the labor market continued its fitful recovery.
Source: L.A. Times - Business | 24 Dec 2009 | 7:40 am Today’s Best Market Rumors (12/24/2009)Updated throughout the day. The CEOs of Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) are each expected to be rewarded with $4 million to $6 million pay packages (various). California may have to appeal to the US government as its $21 billion debt problem grows worse. (Bloomberg) Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) may be considering buying GMAC ResCap. (Reuters). Douglas [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 7:35 am A Gold Merger Fight for the Holidays (GG)With gold up over $1,000.00 per ounce and with many pundits looking for much higher prices into 2010 and beyond, it has been a bit of a wonder where the gold mergers have been. This morning came an announcements from Goldcorp Inc. (NYSE: GG) that it has delivered to Canplats Resources Corporation an amendment to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 7:21 am You People Voted For Hubert Humphrey. And You Killed Jesus.
So they didn't kill Jesus. But even if the boys at Goldman celebrated Christmas, they'd be getting a whole lot of coal--or worse--this holiday season, according to the Gray Lady's one-time star business reporter and ARS nemesis Gretchen Morgenson. Goldman and other Wall Street firms maintain there is nothing improper about synthetic C.D.O.'s, saying that they typically employ many trading techniques to hedge investments and protect against losses. They add that many prudent investors often do the same. Goldman used these securities initially to offset any potential losses stemming from its positive bets on mortgage securities.
Source: Dealbreaker | 24 Dec 2009 | 7:20 am Presented By:Source: Dealbreaker | 24 Dec 2009 | 7:20 am Pimco’s Worah Is `Underweight’ TIPS ETFs: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 7:13 am Pond on Treasuries, Thin on Greek Debt, Currencies: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 7:08 am Shaw on U.S. Jobs, Marta on Stocks, Jersey on Bonds: AudioSource: Bloomberg - All Podcasts | 24 Dec 2009 | 7:06 am FTSE 100 rides 'Santa Rally' to 15-month highMarket's rise delivers welcome pre-Christmas cheer, raising hopes that the global recovery will continue in 2010.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 6:57 am Fewer Firings at Jobs Before ChristmasIt seems that employers refrained from as many firings the week before Christmas this year. The data from the Labor Department showed that initial jobless claims fell by 28,000 to 452,000 in the week ended December 19. This was the lowest reading in more than a year. Dow Jones had consensus around a drop of 10,000 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 6:54 am Two more departures at ITVITV, the troubled broadcaster, has further whittled down its non-executive board with the departure of Heather Killen and Agnès Touraine.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 6:30 am FTSE 100 rides 'Santa Rally' to year high on Christmas EveLate surge in 'Santa Rally' pushes FTSE 100 index to a new year high on Christmas Eve.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 5:52 am Last-minute shoppers surge on to the high streetRetailers are reporting a last-minute surge in sales today, as an estimated 13 million shoppers are expected to hit the high street to finish their Christmas shopping. Source: Latest Business News from Times Online | 24 Dec 2009 | 5:14 am Foxtons in 'unfair' charge appealThe estate agents Foxtons is set to appeal against a High Court ruling that its landlord fees are unfair, a report says.Source: BBC News | Business | World Edition | 24 Dec 2009 | 5:07 am Global equities advance in thin festive tradeWorld stocks extended their gains on Thursday to hit their highest level in almost three weeks, while oil advanced as investors entered the festive period in a positive moodSource: Financial Times - US homepage | 24 Dec 2009 | 4:55 am Italian tax amnesty reaps €80 billionItaly’s tax amnesty aimed at bringing funds illegally held overseas back into the country has so far yielded more than €80 billion, the Economy Minister said. Source: Latest Business News from Times Online | 24 Dec 2009 | 4:52 am Greek parliament approves budget cutsThe Greek parliament has given the government the green light to implement its 2010 budget which seeks to reduce the deficit by four percentage points to 9.1% of GDPSource: Financial Times - US homepage | 24 Dec 2009 | 4:37 am Asian markets rise as China affirms loose policy (AP)
Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 4:32 am Corrupt Company Logic
Source: Business Pundit | 24 Dec 2009 | 4:02 am The Link Between The Economy And Oil Prices StrengthensThe link between the global economy and oil prices may have “de-coupled” in July 2008 as oil prices rose to $140 and the recession took hold across most economies around the world. Some of the increase in oil prices then was tied to speculation, and some to a fear that global supplies were dwindling faster [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 4:01 am US curbs African trade benefitsUS President Barack Obama stops Madagascar, Guinea and Niger from receiving trade benefits for a year due to a lack of progress.Source: BBC News | Business | World Edition | 24 Dec 2009 | 3:53 am Large Numbers Of TARP Recipients Skip Dividend PaymentsAlmost all the very large financial firms that got TARP money have repaid it with Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) getting their money back to the Treasury just as the year ends. The TARP is considered a success by most analysts because it kept the financial system from collapse in late 2008 and 2009. A great deal [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 3:46 am Japan lender gets loan extensionJapanese finance firm Aiful avoids bankruptcy after receiving approval from its creditors to delay debt repayments.Source: BBC News | Business | World Edition | 24 Dec 2009 | 3:37 am HP camera 'can't see' black facesAn online video comparing a webcam's facial recognition response to a white woman and a black man is a big hit on YouTube.Source: BBC News | Business | World Edition | 24 Dec 2009 | 3:35 am Bargains 'less likely this year'Shoppers searching for bargains in the seasonal sales may find they are a year too late for the best deals, according to experts.Source: BBC News | Business | World Edition | 24 Dec 2009 | 3:34 am Chavez May Push Car Companies Out Of VenezuelaHugo Chavez, Venezuela’s president-for-life, has pushed major oil companies that would not pay tariffs to his government and give up some of their assets out of the South American nation. He recently began to close banks that he believed did not favor government policies. Chavez now wants foreign car companies to share their technology with local [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 3:30 am More ITV directors depart as clearout continuesThe boardroom clear-out at ITV continued today with the exit of two non-executive directors before Archie Norman takes the helm as chairman next month. Source: Latest Business News from Times Online | 24 Dec 2009 | 3:16 am More ITV directors depart as clearout continuesThe boardroom clear-out at ITV continued today with the exit of two non-executive directors before Archie Norman takes the helm as chairman next month. Source: Latest Business News from Times Online | 24 Dec 2009 | 3:16 am Investors Ignore Securities AnalystsWall St. firms have cut the number of securities analysts they employ since the scandal of 2000 when some professional stock pickers aligned themselves too closely with the M&A bankers who they worked with. Research was tainted by banking fee income. The period when a top analyst could make millions of dollars a year largely came to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 3:14 am The Car Industry Dodges The Pay CzarPay czar, Kenneth Feinberg, has been fairly consistent in giving only bare-bones compensation to management at firms that have taken TARP funds. Most executives are making less than $500,000 in base salary. Bonuses are limited, except in the case of some AIG (NYSE:AIG) managers who threatened to leave the insurance company. GM’s new CFO was able [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 3:00 am Bleak futureIndian village feels knock-on from Dubai crisisSource: BBC News | Business | World Edition | 24 Dec 2009 | 2:59 am The Whole World Moves To TexasThe Brookings Institution, The New York Times, and Bloomberg all covered the news that Texas added more people than any other state between July of 2008 and this past July, 479,000 according to the Census Bureau. The Brookings analysts suggested that a shift of population migration to places such as California and Florida has slowed because [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 2:51 am Twitter deal will add location services to TweetsTwitter is buying a startup called Mixer Labs in an effort to pinpoint the locations of people posting short messages on its service. Source: Latest Business News from Times Online | 24 Dec 2009 | 2:50 am Language lessonsWhy Bolivians are brushing up on their ChineseSource: BBC News | Business | World Edition | 24 Dec 2009 | 2:38 am FTSE 100 flirts with year highBritain's FTSE 100 flirted with its year high in thin early trading on Christmas Eve.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 2:14 am Greece to slash spending with austerity budgetThe Socialist majority in the Greek parliament early today approved the country’s 2010 Budget, which aims to cut the country’s huge deficit by slashing spending and boosting tax revenues. Source: Latest Business News from Times Online | 24 Dec 2009 | 1:57 am Glencore takes step closer to flotationThe world’s largest commodity trader has taken the first step towards becoming a public company by selling $2.2bn in convertible bonds, a move that values the Switzerland-based company at $35bnSource: Financial Times - US homepage | 24 Dec 2009 | 1:52 am Twitter buys Mixer Labs to map tweet locationsTwitter is buying a startup called Mixer Labs which will enable it to pinpoint the locations of tweets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 1:44 am Carlyle confirms interest in ShanksCarlyle, the US private equity group, said this morning that it is mulling a takeover bid for Shanks, the waste management company. Source: Latest Business News from Times Online | 24 Dec 2009 | 1:42 am
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