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Raiding the 401(k) to keep your business afloatLike many business owners these days, Bob and Joyce Stubbe are facing a cash crunch.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 3:23 am Europe car sales up in DecemberEuropean car sales rose by 16% in December, marking signs of recovery in the sector after another tough year, figures show.Source: BBC News | Business | World Edition | 15 Jan 2010 | 3:19 am Stock futures mixed; eyes on Intel, JPMorgan (Reuters)
Source: Yahoo! News: Business | 15 Jan 2010 | 3:17 am Stock futures mixed; eyes on Intel, JPMorgan (Reuters)
Source: Yahoo! News: Stock Markets News | 15 Jan 2010 | 3:17 am Stock futures mixed; eyes on Intel, JPMorgan(Reuters) - U.S. stock index futures pointed to a mixed open on Wall Street on Friday, with futures for the S&P 500 up 0.02 percent, Dow Jones futures down 0.22 percent and Nasdaq 100 futures down 0.17 percent at 4.40 a.m. EST.Source: Reuters: Business News | 15 Jan 2010 | 3:17 am Nintendo Rules And Video Game Sales ReboundThe Nintendo Wii and the company’s ancient DS were supposed to be nearly dead leaving the door ajar for huge market share gains by the Microsoft (NASDAQ:MSFT) Xbox 360 and Sony (NYSE:SNE) PS3. It did not work out the way during December, the height of the holiday sales season. According to NPD, the research group that tracks game [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jan 2010 | 3:15 am Intel results fuel bullish moodGlobal markets overview: Forecast-busting results from the US technology bellwether add to the optimists’ case as attention turns to JPMorgan Chase, the first of the Wall Street banks to reportSource: Financial Times - US homepage | 15 Jan 2010 | 3:06 am QinetiQ warns of U.S., U.K. defense order delayShares of QinetiQ Group slumped as much as 16% on Friday after the U.K. defense technology specialist warned second-half profit wouldn’t experience its traditional seasonal boost as U.K. and U.S. governments delay key orders.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 3:02 am Challenge to fuel poverty policyThe government needs to revamp its strategy for helping people pay their fuel bills, a think tank claims.Source: BBC News | Business | World Edition | 15 Jan 2010 | 2:57 am The Bank Tax Is The First Tax Of ManyThe Administration proposes that large banks pay a tax based on .15% of total assets minus high-quality capital, such as common stock, and disclosed and retained earnings. Federal Deposit Insurance Corp.-covered deposits and insurance-policy reserves would be untaxed because such assets are already subject to federal fees. The burden of this tax would be on [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jan 2010 | 2:57 am Stocks set for weak startU.S. stocks were poised for a lackluster open Friday, as investors remained focused on earnings and awaited a batch of economic reports.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 2:55 am Man Group shares hit by further fall in assetsThe U.K. hedge fund manager says funds under management have resumed their downward trend, driven by a bad quarter for its flagship fund and further withdrawals by institutional clients.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 2:53 am Pets at Home performance boosts float prospectsPets at Home, the specialist retailer considering a possible flotation this year, made its sales pitch to suitors this morning by revealing a strong Christmas performance. Source: Latest Business News from Times Online | 15 Jan 2010 | 2:45 am London Markets: Man Group underperforms in mildly higher FTSE 100Shares of hedge fund manager Man Group decline in London, underperforming a slightly higher broader market.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 2:41 am More and more states on budget brinkCalifornia is hurtling into the budgetary abyss -- and it's not alone.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 2:40 am Bovis homes in on £150m refinancingBovis Homes, the housebuilder, said today that it had reached agreement with its banks over a £150 million debt refinancing to reduce its interest costs and give it the firepower to invest in residential land. Source: Latest Business News from Times Online | 15 Jan 2010 | 2:39 am Pets at Home sees jump in dog coat sales as big freeze boosts Christmas salesPets at Home, the pet retailer being groomed for sale, reported a 70pc jump in sales of dog coats as Britain's big freeze gave sales a boost over Christmas.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jan 2010 | 2:37 am Belgium beer dispute hits supplyAn industrial dispute over planned brewery job cuts in Belgium threatens supplies of two of the country's main beers.Source: BBC News | Business | World Edition | 15 Jan 2010 | 2:36 am German execs meet investors on pay: reportThe chairman of ThyssenKrupp AG and Siemens AG as well as the chief financial officers of both companies will met investors on Friday ahead of the first shareholder votes on executive pay in Germany, according to a published report.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 2:36 am Shiseido to buy Bare Escentuals for $1.7bnShiseido is to acquire Bare Escentuals, a US-based prestige cosmetics group, in a $1.7bn deal that highlights the Japanese cosmetics groups’ ambitions to expand its global presenceSource: Financial Times - US homepage | 15 Jan 2010 | 2:33 am Obama: 'We want our money back'President Obama on Thursday called on Congress to tax the largest banks to ensure that U.S. taxpayers don't lose a penny from the federal bailout of the financial, auto and insurance industries over the past year.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 2:32 am India to tackle pollution with energy cutsIndia is planning to create a £10 billion-a-year market in energy-saving certificates that officials hope will burnish the country's green credentials and help to avert a looming energy crisis. Source: Latest Business News from Times Online | 15 Jan 2010 | 2:31 am Pearson-held IDC looks for buyersInteractive Data says on Friday it’s evaluating strategic alternatives after a report the financial information company is looking for potential buyers.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 2:26 am Intel beats Street view, bodes well for tech reboundSAN FRANCISCO (Reuters) - Intel Corp's fourth-quarter results roared past Wall Street forecasts and it gave a bullish margin outlook on higher prices and firm demand for server chips, reinforcing hopes for a strong recovery in technology.Source: Reuters: Business News | 15 Jan 2010 | 2:25 am Pompey 'working hard' to pay debtThe Premier League will give Portsmouth's £7m share of the latest money from TV deals to clubs Pompey owes money to.Source: BBC News | Business | World Edition | 15 Jan 2010 | 2:23 am Cold weather sees huge rise in sales of dog coatsThe cold weather leads to a 70% increase in sales of dog coats, according to the retailer Pets at Home.Source: BBC News | Business | World Edition | 15 Jan 2010 | 2:20 am Currencies: Dollar edges down vs. yen, gains on euroThe dollar gets a lift against the euro from market rumors about political turmoil in a key euro-zone country.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 2:20 am Europe Markets: Miners, media lead Europe to small gainsEuropean shares notch small gains on Friday, up for the third straight day. Miners and media stocks in focus.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 2:11 am World markets rise as Intel boosts tech shares (AP)
Source: Yahoo! News: Stock Markets News | 15 Jan 2010 | 2:10 am The Internet ruined my lifeRecently the number of options for wasting time on my computer reached a critical mass of craziness. E-mail. Blogs. Social networks. Podcasts. E-books. Three full seasons of Lou Grant on streaming video.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 2:10 am John Lewis reveals big freeze's toll on spendingJohn Lewis, Britain’s biggest department store group, this morning laid bare the impact that the recent snow has had on retailers with its first decline in weekly takings since last August. Source: Latest Business News from Times Online | 15 Jan 2010 | 2:08 am Results and Prognosis of Finance & Investment Markets Players Club of RussiaSource: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 2:03 am Pearson says IDC considering salePearson, the publishing group, said Interactinve Data Corporation, the financial market data provider in which it has a major stake, is considering its strategic options.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jan 2010 | 2:01 am Consumers win on credit card rulesConsumers scored a few unexpected victories in a set of Federal Reserve rules issued earlier this week.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 1:58 am Bosch to close Welsh plant with loss of 900 jobsBosch, the German engineering behemoth, is to close a car-parts factory in Wales with the loss of 900 jobs, blaming the economic downturn, which has hit hard at the automotive industry. Source: Latest Business News from Times Online | 15 Jan 2010 | 1:56 am $5 million for Haiti raised via textDonations via text message raised $5 million for the American Red Cross's Haiti relief efforts as of 5 p.m. Thursday.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 1:56 am Media Digest 1/15/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: Chain says there are ways to resolve problems with Google (NASDAQ:GOOG) but the US is uncertain. Reuters: Oil fell to $79 over concerns about the US economy. Reuters: Intel (NASDAQ:INTC) earnings beat expectation. Reuters: Citigroup (NYSE:C) bonuses were similar to 2008 Reuters: The Google hack was based on using Microsoft (NASDAQ:MSFT) Internet Explorer. Reuters: Geithner says he was not [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jan 2010 | 1:53 am JAL draws on emergency funds as bankruptcy loomsTOKYO (Reuters) - Japan Airlines Corp moved a step closer to bankruptcy on Friday by drawing down $1.6 billion in emergency funding and with the prime minister set to decide when the carrier will start a state-led restructuring.Source: Reuters: Business News | 15 Jan 2010 | 1:52 am Resource stocks put FTSE under pressureLondon equity markets slipped back at the open on Friday as resource stocks came under selling pressure in the wake of losses on commodity exchanges. As oil prices slipped further below $80 a barrel,...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:51 am Intel's profit beats expectationsIntel Corp. posted a fourth-quarter profit that trounced Wall Street expectations Thursday, as the world's largest microchip maker became the first major technology company to report results for the period.Source: Business and financial news - CNNMoney.com | 15 Jan 2010 | 1:50 am 900 jobs go as Bosch quits WalesAbout 900 workers will lose their jobs after car parts firm Bosch says it will close its south Wales plant in 2011.Source: BBC News | Business | World Edition | 15 Jan 2010 | 1:47 am Bovis Homes sees reservations rebound but remains cautious for 2010Bovis Homes saw reservations rebound more than 82pc last year but warned that the restricted mortagage market will keep sales below their historical average this year.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jan 2010 | 1:44 am Key shipment of US bone-in beef arrives in TaiwanThe first shipment of US beef-on-the-bone arrived in Taiwan on Friday, amid a controversy over the island's decision to re-impose a ban on other beef imports because of health concerns. ...Source: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 1:41 am Intel results fuel bullish mood08:30 GMT. Thwack! That's the sound of Intel smacking the ball out of the park. The chip bellwether and the vanguard of the technology sector's fourth-quarter US reporting season smashed earnings...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:39 am Germany-buyers support A400M, but not at any priceBERLIN, Jan 15 (Reuters) - The countries that have ordered the A400M transporter plane are sticking to the project "but not at any price", a German Defence Ministry spokesman said on Friday.Source: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 1:29 am Asia Markets And Europe Open (1/15/2010)Markets in Asia were mixed The Nikkei .7% to 10,982. The Hang Seng fell .3% to 21.654. The Shanghai Composite was up .3% to 3,224. At the open in Europe, the FTSE was down .1% to 5,492. The Dax was flat at 5,989. SAP (NYSE:SAP) fell. The CAC 40 was up .2% to 4,022. Data from Reuters and MarketWatch Douglas A. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 15 Jan 2010 | 1:26 am UPDATE 2-Strong Xmas sales lift Pets at Home sale prospects* Four private equity bids in of over 800 mln stg - sourcesSource: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 1:26 am Sportech secures passage to IndiaSportech, the football pools and gaming operator, boosted its international aspirations today after gaining a toehold in the sports-mad Indian market through a joint venture with the country's biggest gaming and media group. Source: Latest Business News from Times Online | 15 Jan 2010 | 1:22 am House builder sales rose in 2009House builder Bovis Homes sees an increase in sales by a quarter in 2009, while Balfour Beatty says its financial position is strong.Source: BBC News | Business | World Edition | 15 Jan 2010 | 1:18 am Sterling to enjoy rally against dollar, Goldman predictsThe prospect of the Bank of England raising interest rates will help drive sterling up to $1.85 in three months, according to strategists at Goldman Sachs.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jan 2010 | 1:17 am Pearson considers £1.5 billion sell-off for IDCPearson, the publisher of Penguin books and the Financial Times, effectively put its majority-owned financial information subsidiary on the market this morning. Source: Latest Business News from Times Online | 15 Jan 2010 | 1:14 am Chuck Jaffe: Finish Line shares win no trophyIf you’re an athlete in search of appropriate footwear or something hard to find, a Finish Line store with as many as 1,000 choices of sneakers and casual shoes is a shopper’s dream, but the company's shares could be an investor's nightmare.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 1:07 am Data group IDC sounds out likely buyersInteractive Data Corporation, the $2.4bn financial information company majority owned by Pearson, is considering a sale, say people familiar with the situationSource: Financial Times - US homepage | 15 Jan 2010 | 1:03 am Japan's Shiseido agrees $1.7 billion U.S. cosmetics buyTOKYO (Reuters) - Shiseido Co Ltd, Japan's largest cosmetics company, has agreed to buy U.S.-based Bare Escentuals for $1.7 billion, as it looks to speed up its expansion and break into a new part of the North American market.Source: Reuters: Business News | 15 Jan 2010 | 1:02 am Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 1:01 am Editor & Publisher sold, revivedThe newspaper trade magazine is purchased by Irvine's Duncan McIntosh Co. and immediately resumes online operations. A new print edition is due in February. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am S-Network Announces New Wildcatters Index Tracking Performance of Small-Cap and Mid-Cap Energy StocksSource: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 1:00 am 2010 Audi R8 5.2 FSI: An 'Avatar'-style creature of magnificent grace and powerTo drive it is to mind-meld with a sophisticated being that can be an unholy freakin' animal.James Cameron's film "Avatar" dreams a world where humans can telepathically plug into beautiful blue creatures of extraordinary power and speed, with glittery feline eyes and rock-hard butts.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Los Angeles location filming falls 19% in 2009 from previous yearFeature film, television and commercial shoots all dwindle because of the recession, runaway production and the long-term effects of a contract dispute with actors.It may have been a blockbuster year at the box office, but 2009 was a dud for local film and TV production.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Disney Studios chief Rich Ross names Sean Bailey head of productionBailey replaces Oren Aviv, who was ousted this week after a disappointing spate of movies. The studio also announces other changes that will result in about 80 layoffs.Two months ago, newly installed Walt Disney Studios Chairman Rich Ross sank producer Sean Bailey's planned $150-million production of "Captain Nemo: 20,000 Leagues Under the Sea."
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am California Pizza Kitchen lowers its profit outlookThe restaurant chain expects fourth-quarter net income of 15 to 17 cents a share, not the previously announced 16 to 18 cents. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am Video game industry sees U.S. sales rise 4% in DecemberThe increase from a year earlier comes on strong sales of Call of Duty: Modern Warfare 2 and New Super Mario Bros. Wii. But the month's results fail to counter an otherwise gloomy 2009. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am Obama proposes to tax largest financial firms'We want our money back and we're going to get it,' Obama says as he calls for a fee on the 50 largest institutions to recover projected losses from the government bailout. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am Job retraining program welcomes white-collar workersThanks to $415 million in federal stimulus, unemployed Californians can apply for funds to pay for upper-level certificate programs at UCLA Extension. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am Retail sales fall in December, Commerce Department saysSales declined 0.3% from November, even though many retailers reported relatively healthy holiday results. The mixed messages underscore the tentative nature of the retail recovery. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am Disney Studios chief Rich Ross names Sean Bailey head of productionBailey replaces Oren Aviv, who was ousted this week after a disappointing spate of movies. The studio also announces other changes that will result in about 80 layoffs. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am Fighting white-collar crime is 'a real priority,' attorney general tells panelIn testimony before the Financial Crisis Inquiry Commission, Eric H. Holder Jr. said he hopes to have 50 new FBI agents and 155 new attorneys working financial-crimes cases in the coming year. ...Source: RSS feed - channel BNPaperBusiness | 15 Jan 2010 | 1:00 am Firms large and small cashed in on CalPERS dealsPlacement agents seeking pension fund investments for their clients ranged in size from Wall Street heavyweights to smaller independent firms, documents show.The obscure intermediaries that were paid millions of dollars to win investment business from the California Public Employees' Retirement System ranged from Wall Street heavyweights to small independent firms.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Video game industry sees U.S. sales rise 4% in DecemberThe increase from a year earlier comes on strong sales of Call of Duty: Modern Warfare 2 and New Super Mario Bros. Wii. But the month's results fail to counter an otherwise gloomy 2009.The video game industry eked out a 4% sales gain in the U.S. last month, rising to $5.32 billion as shoppers snapped up nearly 2.8 million copies each of Call of Duty: Modern Warfare 2 and New Super Mario Bros. Wii.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Job retraining program welcomes white-collar workersThanks to $415 million in federal stimulus, unemployed Californians can apply for funds to pay for upper-level certificate programs at UCLA Extension.Job retraining programs traditionally have focused on helping hourly, blue-collar workers switch to careers outside the factory. Now laid-off managers and high-wage workers are getting some attention as well.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Chinese hackers pose a growing threat to U.S. firmsEscalating cyber attacks on Google and other companies alarm government officials who say the U.S. may be powerless to stop the online industrial espionage.The scale and sophistication of the cyber attacks on Google Inc. and other large U.S. corporations by hackers in China is raising national security concerns that the Asian superpower is escalating its industrial espionage efforts on the Internet.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Obama proposes to tax largest financial firms'We want our money back and we're going to get it,' Obama says as he calls for a fee on the 50 largest institutions to recover projected losses from the government bailout.In proposing a new tax on large financial firms, President Obama sent a clear message to bank executives about responsibility for the government's $117 billion in projected bailout losses: The bucks stop with you.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Retail sales fall in December, Commerce Department saysSales declined 0.3% from November, even though many retailers reported relatively healthy holiday results. The mixed messages underscore the tentative nature of the retail recovery.The Commerce Department said Thursday that retail sales fell last month, a surprising development given that many major retailers have been reporting relatively healthy holiday results.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am Go-betweens got $125-million-plus from investment firms for arranging CalPERS dealsThe disclosure by the pension giant prompts calls for greater oversight of those soliciting public pension money. Among the lobbyists disclosed is William Crist, a former CalPERS board president.Private investment funds paid more than $125 million to scores of intermediaries who helped them win business with the California Public Employees' Retirement System, new documents show, prompting calls for stronger oversight of those who solicit public pension money.
Source: L.A. Times - Business | 15 Jan 2010 | 1:00 am UPDATE 1-Pearson confirms IDS reviewing strategic optionsLONDON, Jan 15 (Reuters) - British publishing group Pearson confirmed that financial market data provider Interactive Data Corp (IDC) , in which it is the majority shareholder, is considering its strategic...Source: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 12:54 am Japan's Shiseido agrees $1.7 billion U.S. cosmetics buy (Reuters)
Source: Yahoo! News: Business | 15 Jan 2010 | 12:47 am UPDATE 4-Japan's Shiseido agrees $1.7 bln U.S. cosmetics buy* $18.20/share offer is 43 pct premium to Thursday closeSource: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 12:45 am Bosch closes British car parts factory, 900 jobs lostGerman engineering giant Bosch is set to close a British car parts factory with the loss of 900 jobs, said the company, blaming the economic downturn which has hit the automotive industry hard.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 15 Jan 2010 | 12:28 am UPDATE 2-Japan's Willcom eyed by state fund, Softbank -source* Japan state-backed fund mulling Willcom bailout -sourceSource: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 12:26 am UPDATE 2-Japan's Willcom eyed by state fund, Softbank -source* Japan state-backed fund mulling Willcom bailout -sourceSource: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 12:26 am UPDATE 2-Japan's Willcom eyed by state fund, Softbank -source* Japan state-backed fund mulling Willcom bailout -sourceSource: RSS feed - channel BNewsBusiness | 15 Jan 2010 | 12:26 am Mutual Funds Weekly: Stock-market bulls are scarce on Main StreetEverybody knows that stocks are up sharply over the past 10 months, but hardly anybody believes it.
Source: MarketWatch.com - Top Stories | 15 Jan 2010 | 12:17 am Bargain hunt lifts stocks, Intel boosts tech firms (AFP)
Source: Yahoo! News: Stock Markets News | 15 Jan 2010 | 12:16 am NZ market closes down 20 pointsThe New Zealand sharemarket eased today mostly due to profit-taking in leading shares.The downward move gained momentum as the session progressed and also reflected weakness in the Australian sharemarket.The benchmark NZSX-50...Source: nzherald.co.nz - Business | 14 Jan 2010 | 11:41 pm Economists question success of Bank of England's £200bn money-printing planEconomists have cast doubt on whether the Bank of England's £200bn quantitative easing (QE) programme is working.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jan 2010 | 11:38 pm JP Morgan to unveil $29bn bonus pot as profits rise fourfoldThe Wall Street bank is expected to announce a bumper $29bn pay and bonus pot on a four-fold rise in profits.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jan 2010 | 11:31 pm Citadel in advanced talks to hire Jake Walthour: report(Reuters) - Kenneth Griffin's hedge fund firm Citadel Investment Group is in advanced talks to hire Jake Walthour, co-founder of Aksia LLC, the Wall Street Journal said, citing people familiar with the matter.Source: Reuters: Business News | 14 Jan 2010 | 11:28 pm NZ dollar eases off recent highThe New Zealand dollar retreated from a two-month high today in a move analysts attributed to a trader-driven attack on the euro."The euro was the first to move. Traders offshore pushed the euro through an important stop level,"...Source: nzherald.co.nz - Business | 14 Jan 2010 | 10:47 pm Soros fund to set up Hong Kong officeSoros Fund Management, billionaire investor George Soros’ investment company, is setting up an office in Hong Kong to take advantage of the region’s growth, said a person familiar with the matterSource: Financial Times - US homepage | 14 Jan 2010 | 10:32 pm Inflation threat to China and IndiaInflation is emerging as the key economic problem for India and China as growth surges in the wake of the global financial crisis, the Asian Development Bank warned on FridaySource: Financial Times - US homepage | 14 Jan 2010 | 10:07 pm Real-Life Monopoly Money (Tough Customer)Kadet: More towns are printing local currency, which you can use to go hog-wild at the neighborhood pizza joint.
Source: SmartMoney.com | 14 Jan 2010 | 10:00 pm The Picture's Improving at Time Warner CableTime Warner is one of the industry's most compelling bets.
Source: SmartMoney.com | 14 Jan 2010 | 10:00 pm Broker Talk: Brokers Like the Look of 2010 (Broker Talk)Some of Wall Street's pundits see a good year for the markets.
Source: SmartMoney.com | 14 Jan 2010 | 10:00 pm Gadget Deals Slim for January (Deal of the Day)We look at post-CES deals and other discounts available.
Source: SmartMoney.com | 14 Jan 2010 | 10:00 pm Food Safety probes online Chinese baby formula tradeThe New Zealand Food Safety Authority says it will be investigating the online trade in China of Kiwi-made baby formula.NZFSA senior programme manager Neil McLeod says the organisation "was not aware" the trading was going on...Source: nzherald.co.nz - Business | 14 Jan 2010 | 8:00 pm Jonathan Dodd: Big Day Out - a great money making machineAs the first editions of The Weekend Herald hit the streets, Big Day Out concert-goers will still be making their way home and businesspeople not in the know will still be wondering why so many of their younger staff called in sick...Source: nzherald.co.nz - Business | 14 Jan 2010 | 7:30 pm Citigroup plans to cap cash bonusesCitigroup is to cap cash bonuses for bankers at below $100,000, according to people close to the situationSource: Financial Times - US homepage | 14 Jan 2010 | 7:29 pm Catching up with Australia: Murray HortonMurray Horton, the Secretary/Organiser for the Campaign Against Foreign Control of Aotearoa (CAFCA). Let's leave aside the question of all the ways in which AustraSource: nzherald.co.nz - Business | 14 Jan 2010 | 7:00 pm Taleo Raised to `Overweight' at Morgan Stanley: AudioSource: Bloomberg - All Podcasts | 14 Jan 2010 | 6:30 pm Construction, publishing seen making strongest recoveryConstruction and related industries, along with publishing and advertising are among sectors Westpac economists expect to see recover most strongly from recession.In a note today, Westpac chief economist Brendan O'Donovan and...Source: nzherald.co.nz - Business | 14 Jan 2010 | 6:30 pm Boeing, Intel Options, Thai Banks, SPACs: Taking Stock PodcastSource: Bloomberg - All Podcasts | 14 Jan 2010 | 6:23 pm What China Censors OnlineImpressive.
Source: Business Pundit | 14 Jan 2010 | 6:21 pm Intel beats Street view, bodes well for tech rebound (Reuters)
Source: Yahoo! News: Business | 14 Jan 2010 | 6:21 pm U.S. financial companies paid $145 billion in 2009: reportNEW YORK (Reuters) - Total pay at U.S. banks and securities companies jumped nearly 18 percent to a record $145 billion in 2009, the Wall Street Journal estimated in an analysis published in its online edition on Thursday.Source: Reuters: Business News | 14 Jan 2010 | 6:13 pm Strategic Finance outlook becomes more uncertainStrategic Finance's outlook has become more uncertain with the finance company today informing investors that a further increase in its provisions for bad loans will trigger negotiations with its trustee.Strategic Finance is already...Source: nzherald.co.nz - Business | 14 Jan 2010 | 6:00 pm White House closes in on health compromiseThe prospect of a vast overhaul of the US healthcare system gained momentum after the Obama administration said it was “very, very close” to finalising a compromise between competing proposals on Capitol HillSource: Financial Times - US homepage | 14 Jan 2010 | 5:54 pm 'Sacked' worker never had job, ERA findsA man has lost his claim that he was sacked from his job at Nelson's community law centre because he was never employed in the first place.Bryan Forrest had discussed working for the centre as a legal educator but was never offered...Source: nzherald.co.nz - Business | 14 Jan 2010 | 5:33 pm Geithner says was not involved on AIG disclosuresWASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made to banks.Source: Reuters: Business News | 14 Jan 2010 | 5:14 pm Elaine Bedell: the woman who brings X Factor to ITVElaine Bedell, ITV's director of comedy and entertainment, looks back at her first year at its South Bank HQ.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jan 2010 | 5:13 pm Waterstone’s to be ‘specialist chain in a Google world’Britain’s only remaining nationwide chain of bookshops is going back to its roots amid plunging sales. Waterstone’s, squeezed by online bookshops on one side and supermarkets on the other, is attempting what some observers believe is one last throw of the dice to create a “specialist chain relevant in a Google world”. Source: Latest Business News from Times Online | 14 Jan 2010 | 5:01 pm Levy is a wholesale improvementAs taxes go — particularly ones sketched out on the back of a fag packet — the Obama levy on US-based banks is rather a good one. Certainly better than our half-baked tax on bonuses. Source: Latest Business News from Times Online | 14 Jan 2010 | 5:01 pm Harry Redknapp accused of cheating taxpayer out of £40,000Harry Redknapp, the Tottenham Hotspur manager, was charged with two counts of tax evasion yesterday after allegedly cheating Revenue & Customs out of about £40,000 while manager of Porstmouth FC. Source: Latest Business News from Times Online | 14 Jan 2010 | 5:01 pm UK humbled?British anxiety over influence in Europe after crisisSource: BBC News | Business | World Edition | 14 Jan 2010 | 5:01 pm Retail card transactions climb, led by fuel and foodRetail spending using electronic cards was up a seasonally adjusted 0.7 per cent in December, Statistics New Zealand (SNZ) says.Vehicle fuel was the main factor in the rise, as it had been in rises in the series since last July.Core...Source: nzherald.co.nz - Business | 14 Jan 2010 | 5:00 pm FDIC chief puts blame on Fed for crisisThe Federal Reserve was blamed by a fellow regulator for contributing to the financial crisis as the central bank and one of its former chairmen fought back against congressional moves to curb its powersSource: Financial Times - US homepage | 14 Jan 2010 | 4:58 pm Obama outlines $117bn bank levyPresident Barack Obama unveils a plans for a $117bn fee to be levied on bailed-out banks, and criticises their bonuses.Source: BBC News | Business | World Edition | 14 Jan 2010 | 4:55 pm Spying on JPMorgan Chase Earnings (JPM, BAC, GS, WFC, XLF, FAS)Jamie Dimon and friends over at JPMorgan Chase & Co. (NYSE: JPM) will kick off the earnings season for the major money center banks and too-big-to-fail institutions on Friday in the early morning hours. Thomson Reuters has estimates at $0.62 EPS and $27.02 billion in revenues. This will mark the best bank in America’s year-end [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jan 2010 | 4:49 pm Boris Johnson asks Chancellor for urgent meeting on bank taxesLondon Mayor writes to Alistair Darling over concerns that taxes on the City could lead to the departure of thousands of bankers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jan 2010 | 4:38 pm A Rosenfeld by any other name at The ConnaughtWord reaches me that a certain Ms L Rosenfeld was staying at the Connaught on Thursday. Now this is either a very unlucky or a very unusual occurrence.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 14 Jan 2010 | 4:34 pm Haiti Donations, Company-by-Company (MS, JPM, BAC, GS, JEF, WFC, WMT, TGT, RAD, MCD, YUM, KO, PEP, K, GIS, GOOG, DIS, CA, T, VZ, WU, MGI, UTX, UPS, ABT, AMGN, HUM)We have compiled from press releases and from company announcements a company-by-company donation and effort pledge to help in the relief efforts after the disastrous earthquake in Haiti. These are partial explanations of the efforts, and some lack how the funds are being donated and may lack the exact sources inside. There are many other [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jan 2010 | 4:23 pm Obama proposes bank fee, slams Wall StreetWASHINGTON (Reuters) - President Barack Obama on Thursday proposed Wall Street banks pay up to $117 billion to reimburse taxpayers for the financial bailout, as he slammed bankers for their "massive profits and obscene bonuses."Source: Reuters: Business News | 14 Jan 2010 | 4:20 pm Fifteen Percent Unemployment For Two More YearsThe chart that shows what the Congressional Budget Office believes the unemployment level will be is buried deep in the one of the charts in the new “The Policies For Increasing Economic Growth And Employment In 2010 And 2011”. The section shows that unemployment will remain above 8% until 2012. The press is fond of reporting [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jan 2010 | 4:14 pm Regulator cautious on energy shake-upChilton: ‘The proposed limits will certainly be seen by some as higher than appropriate’Source: Financial Times - US homepage | 14 Jan 2010 | 4:14 pm Stocks rise as optimism builds about earnings (AP)
Source: Yahoo! News: Stock Markets News | 14 Jan 2010 | 4:11 pm Kiwi online fashion venture in China pushA young Auckland maths student has combined her entrepreneurial spirit and sense of fashion to create an e-commerce store she hopes will one day be a market leader.Jane Li's online store - mode92.co.nzSource: nzherald.co.nz - Business | 14 Jan 2010 | 4:00 pmNJ man sentenced in $100M investment fraud case (AP)AP - A New Jersey man has been sentenced to 18 years in prison and ordered to pay more than $100 million in restitution for masterminding what a judge described as one of the biggest real estate frauds in state history.Source: Yahoo! News: Business | 14 Jan 2010 | 3:58 pm Former exec. of failed Atlanta bank pleads guilty (AP)AP - A former executive at a failed Atlanta bank pleaded guilty Thursday to charges that he overvalued bank assets in a scheme that prosecutors said helped hide bloated accounting figures that could have alerted regulators to massive mortgage fraud.Source: Yahoo! News: Business | 14 Jan 2010 | 3:58 pm How the major stock indexes fared on Thursday (AP)AP - The Dow Jones industrial average closed above 10,700 for the first time in 15 months on Thursday as investors bet that the corporate earnings season would overcome a rocky start. The advance was slightly uneven, with technology stocks rising ahead of quarterly earnings from chip maker Intel Corp. and financials climbing before a profit report from JPMorgan Chase & Co. due Friday. Safe havens like utilities and consumer staples stocks fell.Source: Yahoo! News: Stock Markets News | 14 Jan 2010 | 3:57 pm Write-Offs: 01.14.10$$$ Hedge Fund Advisory Sues Over Allegedly Stolen, Destroyed Information [FINalternatives] $$$ A Bank CEO "Bringing In His Own People"? Be Very Afraid. [The Big Money] $$$ The Myth of 2009's Great Consumer Deleveraging [The Atlantic] $$$ Why Citigroup's Going to Take The Fall [TDB] 
 Source: Dealbreaker | 14 Jan 2010 | 3:55 pm Business Highlights (AP)AP - Retail sales fall unexpectedly; jobless claims upSource: Yahoo! News: Business | 14 Jan 2010 | 3:43 pm Fed's balance sheet liabilities hit record (Reuters)Reuters - The U.S. Federal Reserve's balance sheet rose to a record level in the latest week, boosted by its ongoing efforts to support the mortgage market, Fed data released on Thursday showed.Source: Yahoo! News: Business | 14 Jan 2010 | 3:41 pm Fed's balance sheet liabilities hit recordNEW YORK (Reuters) - The U.S. Federal Reserve's balance sheet rose to a record level in the latest week, boosted by its ongoing efforts to support the mortgage market, Fed data released on Thursday showed.Source: Reuters: Business News | 14 Jan 2010 | 3:41 pm 7 digital fitness coachesEvery January countless Americans vow to get in better shape. Make this year different with these gadgets - no personal trainer required.Source: Business and financial news - CNNMoney.com | 14 Jan 2010 | 3:38 pm Tim Geithner Knows No One's Really Mad At Him
HARWOOD: As you know, you've been asked to testify before Congress about some memos that came out, Congressman Issa released regarding AIG and advice the New York Fed gave to not disclose the full repayments to some counterparties of AIG. Now, I know you've said that you--or your spokesmen have said that you were not involved in those memos. But did you agree with the advice in the memos? Was it sound advice?
Source: Dealbreaker | 14 Jan 2010 | 3:36 pm Chrysler goes from bankruptcy to Super BowlChrysler will be the only U.S. automaker to advertise in this year's Super Bowl, forking over millions of dollars to restore its image following its bankruptcy and the federal bailout that followed.Source: Business and financial news - CNNMoney.com | 14 Jan 2010 | 3:29 pm Obama proposes bank fee, slams Wall Street (Reuters)
Source: Yahoo! News: Business | 14 Jan 2010 | 2:49 pm Strong quarterly results at IntelUS chip maker Intel reports healthy figures, in a positive sign for the US technology market.Source: BBC News | Business | World Edition | 14 Jan 2010 | 2:48 pm Tyson Foods, Netflix, RealNetworks are movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 14 Jan 2010 | 2:46 pm Old Man, This Time Sans Dog, Shoots Off Warning Signal To Goldman Sachs
Hank Greenberg: Oh yeah. And there's more to come out.
Source: Dealbreaker | 14 Jan 2010 | 2:45 pm Intel’s Beat & Raise (INTC, AMD, MSFT, SMH)Intel Corporation (NASDAQ: INTC) had a great day ahead of its earnings report today based upon expectations that it would beat earnings and raise guidance. The processor and chip giant just proved the sentiment correct reporting earnings of $0.40 non-GAAP EPS and revenues of $10.57, while Thomson Reuters had estimates of $0.30 EPS and $10.17 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jan 2010 | 2:29 pm Vonage Loses Its CFO (VG)Vonage Holdings Corporation (NYSE: VG) just disclosed in an SEC filing something that many investors do not like to see, even if it is in small stocks. The company noted, “John Rego, Executive Vice President, Chief Financial Officer and Treasurer of Vonage Holdings Corp., will be leaving the company later this year.” The company did note [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jan 2010 | 2:24 pm Retail sales fall unexpectedly, jobless claims upWASHINGTON (Reuters) - U.S. consumers unexpectedly curbed their Christmas spending in December and more people filed claims for jobless benefits last week, casting fresh doubts on the durability of the economic recovery once government support fades.Source: Reuters: Business News | 14 Jan 2010 | 2:23 pm CNBC To Air Mildly Tittilating Programming
Source: Dealbreaker | 14 Jan 2010 | 2:20 pm World races to help Haitian survivorsThe US and other nations raced to send help to Haiti where tens of thousands of dead and injured remain buried in rubble or laid by the roadside after the country’s worst earthquake in more than 200 yearsSource: Financial Times - US homepage | 14 Jan 2010 | 2:03 pm SEC Now Totally Open To People Helping Them Do Their Jobs
Source: Dealbreaker | 14 Jan 2010 | 1:55 pm Galleon Prosecutor Resigns
Source: Dealbreaker | 14 Jan 2010 | 1:08 pm Presented By:Source: Dealbreaker | 14 Jan 2010 | 1:08 pm Ponzi Schemer Kept Prized Bear Collection In Perfect Order
Source: Dealbreaker | 14 Jan 2010 | 12:45 pm $125 Million For Public AccessBy Daniel Costello The California Public Employees' Retirement System, the largest U.S. public pension, today released more than 5,000 pages of documents it had been seeking from fund managers detailing when they hired middlemen for access to the fund and how much they paid. In May, Calpers asked its private investment managers to detail the extent to which they were paying for access. The documents show Wall Street firms paid middlemen at least $125 million to gain entry to the $206 billion fund. U.S. securities regulators are probing influence peddling at state pension funds and New York Attorney General Andrew Cuomo is investigating alleged kickbacks involving that state's pension. Among those collecting fees for helping the funds get some of the more than $200 billion that CalPERS invests, was former CalPERS board member Alfred J.R. Villalobos, whose company, ARVCO, received $58.9 million in fees, the records show. His firm received more fees than any other placement agency, according to the records released. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 14 Jan 2010 | 12:26 pm Previewing Intel Earnings Fallout (INTC, AMD, MSFT, SMH)Intel Corporation (NASDAQ: INTC) is probably going to set the tone and set the bar of expectations for most large technology stocks this earnings season. Thomson Reuters has estimates for this afternoon of $0.30 EPS and $10.17 billion in revenues. Today’s bias is not just one of consensus, but is technically one of how much [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 14 Jan 2010 | 11:57 am Ex-Morgan Stanley Employee To Potentially Participate In Televised Cooking Competition
Source: Dealbreaker | 14 Jan 2010 | 11:40 am Mobile donations make giving easierText message donations to Haiti are in the millions. Katya Andresen, chief operating officer at Network for Good, talks with Kai Ryssdal about why this type of giving is growing in popularity and how big of a role it will have in helping Haiti.Source: Marketplace | 14 Jan 2010 | 11:34 am A health system that works for allOne idea to rein in health care costs is to build a system around medical practices that are shown most effective for most people -- something called evidenced-based medicine. Commentator and physician Calvin Brown says that approach only goes so far.Source: Marketplace | 14 Jan 2010 | 11:34 am Informers may get SEC immunityThe Securities and Exchange Commission is rolling out some new tactics in the fight against corporate crime. Brett Neely reports.Source: Marketplace | 14 Jan 2010 | 11:34 am Can we still trust ratings agencies?California's general obligation debt rating has been knocked down to A minus. But why are we listening to the rating agencies when they don't exactly have a stellar track record? Jeremy Hobson reports.Source: Marketplace | 14 Jan 2010 | 11:34 am It's not always good to create goalsGoals keep us focused, and give us a target to shoot for. But a few academics are warning us to re-evaluate the benefits of setting goals. Sean Cole reports.Source: Marketplace | 14 Jan 2010 | 11:34 am Award shows change to draw viewersThe Golden Globes will kick off what's come to known as awards season. For TV networks, it means big business. Or it used. Rico Gagliano reports.Source: Marketplace | 14 Jan 2010 | 11:33 am Foreclosures may worsen in 2010A report from RealtyTrac says 2.8 million properties fell into some kind of foreclosure last year, breaking all kinds of records. Bob Moon reports on one ominous development that's a bad sign for the year ahead.Source: Marketplace | 14 Jan 2010 | 11:33 am Bank tax may pay for bailout, deter riskPresident Obama has proposed a tax on banks that would be used to cover the government's losses from the bank bailout. But the tax would also be intended to head off a future financial crisis. Nancy Marshall Genzer explains.Source: Marketplace | 14 Jan 2010 | 11:33 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 | 14 Jan 2010 | 11:25 am 12 Practical Business Lessons From Social PsychologyIt’s been said many times that business is all about people. That being the case, perhaps we should stop reading management books for advice and start looking at social psychology. Very simply, social psychologists study how people interact with others – their families, friends, and yes, business partners. Smart marketers and executives have been using the findings of this growing field for decades to close sales, hold effective meetings and get their way in negotiations. But rather than putting you through an academic psychology lesson, we condensed the most useful concepts into one article. The Foot in the Door PhenomenonThe Concept: If you’re wondering how to convince superiors, employees or customers to do what you ask, try using the foot in the door phenomenon. This refers to the tendency of people to do something huge if they have already agreed to something much smaller. Your friend should be much more open to helping you decorate your entire house for a dinner party if, for example, he already helped you pick out decorations. How You Can Use It: This handy principle has countless applications in the business world. Hand lotion and beauty supply kiosks at the mall use it all the time. If you can get a person to talk to you for a couple of minutes and rub some lotion on their hands, you’ve got your foot in the door, and they are much more likely to buy from you than if you had just screamed a sales pitch at them. The Door in the Face PhenomenonThe Concept: Another classic persuasion tactic is known as the “Door in the Face Phenomenon.” Using this approach, you make your actual request look reasonable by first making an outrageous request that the person will unquestionably turn down. When they turn you down, you then ask for what you really want, which now looks trivial in light of what you asked for a moment earlier. How You Can Use It: Let’s say you want your company to approve funding for a team of five marketers to research a new advertising campaign. Rather than simply asking for this funding and risking being shot down, use the door in the face principle. Ask your company for twice the amount of funding for a team twice as big as what you need. This will almost certainly be disapproved, but don’t fret; you didn’t need that amount in the first place. Act like you’re really going to work hard on cutting the funding down to the bone and reworking your proposal. In a few days, come back and propose the funding request you wanted all along. It will look as though you found a way to accomplish the same tasks for half the price with half the personnel. Social psychology research states that you are much more likely to get what you want by doing this. The Serial Position EffectThe Concept: A truly sharp marketer should understand how our brains process information. The “Serial Position Effect” (developed by Hermann Ebbinghaus) assists by explaining how we remember items we see or hear in lists. Ebbunghaus discovered that things shown at the beginning of a list and at the end of a list are remembered best. This was later titled the “Primacy Effect,” and the “Recency Effect.” How You Can Use It: This powerful concept can affect what the millions of people seeing your advertisements, listening to your radio promotion, or reading your sales letter, remember about your product. If you have five benefits that your product provides over the competition, think long and hard about which ones you want to stick deep into your audience’s memory. Place those items at the beginning and end of your pitch. This way, prospects will remember these benefits when they see your product on a shelf or think about the commercial they just saw. Attitudes Follow Behavior: Resolving Cognitive DissonanceThe Concept: Cognitive dissonance is a fancy term for when people have opinions, behave contrary to them, and change their opinion to fit how they acted. For example, if you normally despise handguns, but join your buddy at the shooting range one day, you might leave thinking about how “guns aren’t really that bad if you use them safely.” Simply by holding and shooting one yourself, your brain begins thinking positive thoughts about it. Similarly, a “boring” task might later be remembered as “not being all that bad” or even being “fun” because, after all, you did it. How You Can Use It: What this means to you is that if you can get your customer to perform a small task, such as a little game or survey online, the customer may begin making some positive assumptions about what you sell. This especially works for businesses operating in controversial markets, such as gambling, tobacco or other vice-related products. If you can find a harmless and fun way for potential customers to get involved with your products and services they will be more likely to become loyal buyers down the line. Two Routes to PersuasionThe Concept: Not everyone processes information (including product demos and advertisements) the same way. Generally speaking, there are two types of audiences, depending on your product/service. Your audience is either attentively thinking about your message, or they are distracted. These two audiences take two different routes to understanding your message. The involved group takes what is known as the “Central Route,” meaning that they focus on what you are saying closely, develop counterarguments and respond based on what they eventually decide your product is all about. If your ad or pitch was strong and convincing, these people will probably buy. If it was weak or not convincing enough, there’s little hope of them buying. How You Can Use It: The distracted audience takes a very different route to understanding your pitch known as the “Peripheral Route.” These people focus on irrelevant parts of the pitch that randomly interest them. The speaker’s good looks, for example might interest them more than the information in the pitch. Simple language is also important for this kind of audience. For example, if you’re selling a market research service, classic adages such as “look before you leap” will probably work better than “perform proper market research before investing.” Perceived ExpertiseThe Concept: Let’s face it – most of us give more weight to what “experts” say than average Joes off the street. Most people would sooner listen to a warning about the health hazards of eating fast food, for instance, if it came from a renowned nutritionist than from a self-righteous teenager. How You Can Use It: What makes someone appear to be an expert? One tactic that has been used by marketers (and politicians) is to begin your pitch with something the audience already agrees with. This makes the speaker seem intelligent and makes the audience eager to believe more of what he or she has to say. Of course, being introduced as an expert never hurt either. A comment about an approaching asteroid from “Dr. Robert Kimmel, Chair of Astrophysics at Harvard University” will surely be taken more seriously than, “Robbie Kimmel, local guitarist and college student.” Finally, social scientists find that speaking confidently greatly improves believability. A study performed by Bonnie Erikson in 1978 proved this by having college students rate the credibility of two supposed “witnesses” to an accident. One spoke very clearly and confidently and the other one hesitated and stumbled over his words a bit. One by one, each student said the confident speaker was much more credible. Perhaps it’s time to buy your TV or radio guy a course in effective speaking! Perceived TrustworthinessThe Concept: Trustworthiness of the speaker is another factor critical to any kind of visual marketing. No trust, no sale. Fortunately, how trustworthy you look can be controlled almost entirely by you. How You Can Use It: Our outward behaviors have a lot to do with whether trust us or not. One behavior that seems to carry a lot of weight is eye contact. Researchers have found that if video-taped witnesses in court looked their questioner straight in the eye rather than down or around, they were seen as more trustworthy. You can also appear more trustworthy by seeming like you’re not trying to influence an audience. “Hidden camera” TV commercials utilize this tactic all the time. Social psychology experiments have found that people who don’t think they’re being watched are comfortable being completely honest. People also find others trustworthy when they argue against their own interest. Thus, a message about risks of cigarette smoking seems much more sincere coming from the tobacco companies than it would if were given by an anti-smoking politician up for re-election. People might link the politician’s anti-smoking speeches to his political agenda, whereas they cannot do this with the tobacco companies and are much more likely to absorb the message as true. The Mere-Exposure EffectThe Concept: Sometimes repetition alone can make a message more believable. Social research has found that people tend to eventually believe things they’ve been told many times, simply because they’ve repeatedly heard it. Studies show that people rate false statements such as “Mercury has a higher boiling point than copper” as true if they were made to read them a week before. How You Can Use It: This concept is why companies run the same advertisement three times during a one-hour television show. The first time the audience sees the ad they might just ignore it. However, a week later they may have seen the ad 20 times, and by that point they have begun to accept its message and view favorably the product it advertises. Distraction Disarms Counter-arguingThe Concept: Audio and visual messages are much more effective when the audience can be somewhat distracted by background clutter just long enough to inhibit counter-arguing. Mild distraction often preoccupies the brain just long enough to stop it from inventing a reason to say “no.” How You Can Use It: Many radio commercials utilize this tactic. The words promote the product being sold while background music or intermittent comedy distracts us from thinking too deeply about the words. Be careful not to distract so much that ad is not processed, however. Extremely violent or incredibly sexual advertisements are often ineffective because the audience is simply too distracted by what they’re viewing to pay attention to the message. They key is to strike a balance such that your message is understood, but not deeply analyzed or argued by the audience. The Self- Reference EffectThe Concept: Remember – a marketer’s job making sure the audience understands and remembers the sales pitch. One handy way to achieve this is known as the “Self-Reference Effect.” The Self Reference Effect refers to the tendency of people to effectively recall information about themselves. Most people are primary concerned with themselves. Thus, memories pertaining to what we think about the most, (ourselves), are held longer and recalled easier. Studies have shown that, when asked to compare ourselves to a short-story character, we remember that character better than if we compared them to someone else. How You Can Use It: When planning a new marketing campaign or presentation to the board, it is important to keep this principle in mind, as it can greatly influence what your audience walks away remembering. Try focusing on the basic lifestyle and personality traits of your audience. Once you have these squared away, design your new message to match these traits. This makes your message personally meaningful to them and boosts their chance of remembering what you said. PrimingThe Concept: Priming is when various stimuli (sights, tastes, smells) automatically trigger thoughts of similar stimuli. The smell of crisp fall air, for example, might trigger thoughts about the holiday. As a result, simply smelling the fall air might make you crave pumpkin pie or apple cider, even though no food is in front of you. How You Can Use It: Priming is a classic sales tactic that has been used for decades, and you can put it to use for your business immediately. The key is to find some kind of neutral stimulus that is clearly related to your product. A perfect example of this can be found at any movie theater. As soon as you walk through the door your nostrils are overcome with the smell of buttery popcorn. Without even seeing the popcorn or being asked to buy it, you find yourself making your way to the concession stand because you suddenly feel like the movie wouldn’t be the same without the snacks. This is classic priming, and all five senses are susceptible to priming by intelligent marketers and businesspeople. Prevent Employee Social LoafingThe Concept: Have you ever noticed, perhaps in college or around the office, that when groups are assembled to complete a task, it always ends up that a couple of members do most of the work while the majority of members do almost none of the work? This is a social psychological phenomenon known as “Social Loafing,” and it happens everywhere and in absolutely every profession. Social loafing is defined as the tendency for people to put less effort into a task when they are in a group than when they are alone. How You Can Use It: Social loafing can seriously drain a team’s performance. The good news is that the causes of social loafing are known and consistent. Social loafing happens when no one is personally accountable. When the group is judged as a whole no matter what its individual members do, loafing is almost sure to occur. The sure-fire way to make sure that all of your employees are contributing equally to the task at hand is to assign them to groups, but assure them that they will be personally monitored and evaluated on their contributions to the group. The more someone thinks they will be judged personally, the less social loafing you have. This allows you to make the most of the talent you have on staff and almost always produces stronger results than the vague “group evaluation” does.
Source: Business Pundit | 14 Jan 2010 | 10:52 am The Secret To Making The Big Bucks At Citigroup, Part IIAs you've probably heard, it's not that easy to get rich as an employee of Citi. Sadly, the days of the bank paying hundreds of millions for your shitty hedge fund are pretty much over, unless you've got something really special to offer them, in which case, let's talk. Still, there are a few ways to score a decent chunk of change from the Big C, which we've been doing our part to share with you. Last week we discussed the John Havens case study. He's the highest paid guy at that place, a title he scored by coming up with a revolutionary way for Citi to save tens if not hundreds of dollars each year. Today we've got another insider tip: show up late, get yourself fired, and let your former boss assault you on the way out.
Source: Dealbreaker | 14 Jan 2010 | 10:52 am FTSE 100 finishes higher (AFP)
Source: Yahoo! News: Stock Markets News | 14 Jan 2010 | 10:43 am FTSE 100 finishes higher (AFP)
Source: Yahoo! News: Business | 14 Jan 2010 | 10:43 am National Strike Day 2010: When Americans Strike, It’s Getting Serious
One thing that probably hasn’t occurred to you is striking. We Americans don’t make a habit of it the way they do in some other countries. Instead, we historically keep to ourselves as things crumble around us. Even the early years of the Great Depression saw a docile, rather than aggravated, American population. For Americans, a strike is an option of last resort. So when we do start talking about striking, it’s safe to say the situation has gotten really bad. To Kevin Maloney, things are bad indeed. Maloney, a City of New York worker with a blue-collar background, says that both Republicans and Democrats have consistently failed the American population, leading to the current crisis. He wants to hold Washington accountable for its failures. And we can do it, he says, through something called National Strike Day, which takes place on May 10, 2010. When I heard about National Strike Day, I wanted to learn more about how this independent, grassroots effort would work, what brought it about, and what it could accomplish. Here’s what Kevin had to say. (Note: This isn’t the same National Strike Day that the Tea Party people came up with last December. When I asked Kevin about that other National Strike Day, he said that “they appear to be preaching an irrationally anti-Democratic Party philosophy that borders on paranoia. They are completely missing the point by painting the Democrats as the villains and the Republicans as the good guys. It is obviously one-sided and biased. Our site tries to criticize everyone who is to blame equally.”) KM: I work with the City of New York. I have a blue collar background. I’m married, and my wife works in one of the Big 4 accounting firms in New York. I organized this event with a few coworkers of mine and members of my family. After watching the whole financial crisis phenomenon, we realized that a lot of people were misled. And the more research we did, the more we came up with the facts that Republicans and Democrats are not who they pretend to be. BP: You’re independent? KM:Yes, it’s an independent movement. We’re trying to get disaffected Republicans and Democrats together. BP: Why do you think the government isn’t listening to people? KM:To me it goes back part of the way to 1974, when they changed the political contribution law. They made it possible for you to spend your own money, so there’s no limit to the amount of money you could spend on your campaign. To me, this has led to is a ruling class, a financial elite that seems to be monopolizing the government. There are 237 millionaires in Congress right now. I don’t really think they’re in touch with the average American. If I’m a millionaire, of course I’m going to have different problems than 90% of the rest of Americans. Politics itself has also become isolated from the average American. It’s not really part of mainstream America. Here’s one example. Can you imagine a haberdasher being elected president today? It wouldn’t happen. But Harry Truman was a hatmaker, and he was elected President. Nowadays something like that simply couldn’t happen. The amount of money that is spent on campaigns is so huge now that it eliminates people from even considering politics. Politics is big business right now. BP: What would have to happen in terms of protests in order to change our situation? KM:Here’s the thing. We’re not advocating a massive disruptive strike in the country. The economic situation is so poor right now that we don’t expect anybody to endanger their jobs for any political cause. What we do advocate is that if at all possible, don’t go to work that day. Take a vacation day. If you’re a college student, boycott classes that day. If you’re a parent, keep your kids home that day. Instead, stay home and write a letter to your Congressperson, Senator or the President. Do some research on the Internet and see what’s caused all these problems. Try to break this partisan hold that’s overtaken the American people. Many Americans don’t look at the facts, they just hold blind allegiance to their party. BP: Do you think that if this thing gets enough publicity, it might be co-opted by one of the political parties, kind of like the Tea Parties were? KM:The Tea Parties…I actually felt bad for some of these people. If you look at the facts, there’s no way some of these people should be joining the Tea Parties. The Republicans took it over mainly because of their hatred of the Democratic party, whether Obama or anybody else. The Tea Parties were co-opted. To me, the Republicans took advantage of a lot of people who I’m sure had the best intentions by protesting. But I think those people were misled. Who would co-opt us, I don’t know, because we’re independent, we don’t have any party affiliation. We’re trying to bring together blue collar, white collar, Democrats, Independents, Republicans. There are a lot of disaffected, angry people out there. Hopefully we’re not going to be co-opted, but I don’t see who would want to get involved. BP: You say on your website that a small group of people is basically running this country with unlimited resources. Who are those people? How did they get into such a position of power? Can you give me an example of how they’re abusing their power? KM:The country has 300 million people. The number of people who control the majority of finance and government is actually very small. For example, Goldman Sachs should not have such a close relationship with the current administration. There’s has also almost a monopoly on different aspects of the media. Rupert Murdoch, for instance, or George Soros. These aren’t elected people, but the amount of money these people have buys a lot of influence. I have a quote from a Republican National Committee spokesperson, Christine Iverson. She said that George Soros has purchased the Democratic Party. He’s donated like $6 billion to liberal causes since 1979. Another thing. The age of objectivity in journalism is gone. There’s no such thing as objectivity anymore in a lot of what you read and watch on TV. You have different networks overtly parroting party lines. A lot of people don’t realize that what they’re getting are slanted views. So that’s what I mean about abuse of power. There’s also patronage. There has always been a political patronage. Years ago, it would be like my brother-in-law needs a job, can you put him in the government. But now everything’s so big, it’s not like the brother-in-law needs a job, it’s a billion-dollar pharmaceutical company that needs help. It’s political patronage, but exponentially larger. BP: What would the ideal outcome of National Strike Day be? KM:Make Washington aware that Americans are demanding change. What kind of change? I think we need a larger, more influential middle class, which is shrinking now. I think lower taxes and a smaller government. At this point, we need more regulation on big businesses, even though technically, if you’re for a small government, you would want less regulations. Right now, things with big business are so bad that we need some kind of legislation to keep things in order. Repeal the Gramm-Leach-Bliley bill, which allowed investment banks, commercial banks, and insurance companies to exist in the same company. Reform bankruptcy laws, because the last bankruptcy laws were basically written for the credit card companies. Reform credit card laws and lower interest rates on credit cards. I think it’s outrageous that the last time we tried to cap interest rates at 15%, it was voted down by Democrats and Republicans. If you’re really representing your constituency, why would you vote against that? More separation between banks and government. We’re becoming a country of haves and have-nots. The country will not prosper in that case. We’re basically just trying to disseminate information. It’s not a workers-vs.-management movement. We’re not advocating a massive strike. We’re trying to point out that both parties have let us down.
Source: Business Pundit | 14 Jan 2010 | 10:18 am Global Outlook ImprovingBy Daniel Costello The global economic outlook has improved going into 2010 but activity remains fragile and the crisis is not over, said Dominique Strauss-Kahn, the managing director of the International Monetary Fund on Thursday. Strauss-Kahn urged global policymakers to maintain stimulus spending until private demand picks up and shift some of the support into job creation. In addition, the IMF is welcoming the Obama administration's proposal to levy fees on banks based on their risk exposure, saying it will provide momentum to the international effort. "It is a very good signal that is shown by the U.S. to the rest of the world," said Strauss-Kahn, noting that many had discounted any such move out of the U.S. given the strength of Wall Street. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 14 Jan 2010 | 10:18 am Corporate America Goes Good: 25+ Big Companies Donating Millions to Haiti“Corporate America” hardly has a good ring to it. In the wake of the Haiti quake, however, a number of big US companies are standing up and donating to relief efforts. We want to recognize those companies in the list below. Keep up the good deeds, folks. Most of the information below is from Reuters: Standouts (these companies are donating the most): - Coca-Cola Fund: $1 million to the Red Cross. - Rite Aid: $50,000 to the Red Cross. Know of any other companies to add to this list? Please comment below, and I’ll put them on. Also, can anyone tell me whether that Bank of America money is coming from TARP funds? And where Obama’s $100 million (much needed, don’t get me wrong) is coming from? Couldn’t resist…
Source: Business Pundit | 14 Jan 2010 | 10:08 am MTV Strong Arms Small Cable Providers
Imagine for a moment if you go to your TV and prepare to settle down to one of your favorite TV shows. You flip to the channel and it is offline, not just technical difficulties, but gone. So you flip to another, it is gone to. Your kids want to watch Sponge Bob, gone. “What the?” you begin to think. No Daily Show? No South Park? No Nick? Spike! What the h***!! This can happen and most likely will. You may live in a big city with a monster media company as your provider; you would be one of the lucky ones. But if you live in a small town and have a local provider, you just might lose this programming. Right now, MTV is threatening to pull programming from the N.C.T.C. or (National Cable Television Cooperation). If they can’t reach an agreement then the following channels will be pulled from the NCTC lineup:
The NCTC is a huge cooperative that many smaller cable TV organizations belong to. The NCTC pays a certain rate for programming so the smaller companies don’t have to pay these huge programming fees directly to the stations (MTV). Larger media groups like Comcast for example, do not belong to the NCTC. So this would not affect them. These channels are nothing to shake a stick at. With having a small child in the house, I constantly hear Sponge Bob, and iCarly. Here is the way I see it, this is pure and simple extortion. MTV might as well be holding my child hostage. Without her programs she is not going to be a happy camper, and all of us with kids know, “If they aren’t happy, no one is happy.” This may cause a lot more people to be without programming then you might realize. You might be one of the ones losing out. Awesome isn’t it? I remember being young and watching MTV explode. It was an outlet for youth, now their corporate greed is taking over. MTV we helped you grow, we embraced YOU! Now the generation who helped build you is going to suffer? Way to stab us in the back! I love how MTV has become the very thing that you used to be against.
Source: Business Pundit | 14 Jan 2010 | 10:06 am Airlines, Hotels Offer Incentives to Donate to Haiti ReliefThe travel industry is reacting to the Haiti earthquake by incentivizing customers to donate. USA Today has a roundup of what these companies are doing: American Airlines: Flew three relief flights to Haiti. (Each) carried 10,000 pounds of supplies for the airline’s 100 employees in Haiti as well as materials for local hospitals. American has scheduled another three relief flights for Thursday, the company said. (American) says it will give a one-time 250-mile bonus to AAdvantage members who make a minimum $50 donation to the American Red Cross. If frequent-fliers up that to $100. AA will dole out 500 bonus miles. Spirit: says it will give 5,000 frequent-flier miles to members that donate at least $5 to the Red Cross, UNICEF or Yele Haiti. Spirit says it’s prepared to dole out up to a billion miles in total. United: its frequent-flier members can “donate Mileage Plus miles to the American Red Cross through our Charity Miles program. These miles can be used by the American Red Cross to assist in getting aid workers to affected areas.” Starwood:is partnering with the Red Cross to collect hotel points to help bankroll relief efforts. Click here for details. Donated Starpoints are not tax deductible. Donations may be made in the following amounts: 4,000 points=$50; 8,000 points=$100; 12,000-$150, and 16,000 points=$200.
Source: Business Pundit | 14 Jan 2010 | 9:50 am Dealing With 'Envy, Puzzlement And Poverty' In DenmarkCarl Hughes writes: Thanks for a really interesting podcast on the Danish economy. As an American who's currently living in Copenhagen for 10 months, the show resonated with my experiences and helped answer some of my questions. Living here I'm filled with a mixture of envy (everything is so green, so efficient), puzzlement (how can a country be both a social welfare state and one of the most affluent in the world?), and desperate poverty (I can't afford anything!). I'm a PhD student writing my dissertation on the Danish philosopher Søren Kierkegaard, so it's not exactly surprising that I would be poor. But, I mean, the average Dane is so much better off than the average American! And the cost of just about anything here is often three times what it is in the States. A $9 latte doesn't even raise people's eyebrows. The average Dane seems so much wealthier than the average American. How is such a gap possible? For me, Denmark seems like the poster country for disproving Republican talking points about collectivist welfare policies leading to a poorer economy overall. This is the most collectivist place I've ever been--and it's also by far the wealthiest. One final note on taxation. The Danes do indeed pay astronomical taxes on just about everything. What amazes me is the way that they use the tax system to socially engineer the populace to help it evolve toward the greater good. For example, the Danes love chewy soft candy--if you go into any grocery store, there's an entire aisle of it, and it's all absurdly expensive--like $5 for a little bag (I assume because of taxes). However, at the checkout lane at just about every grocery store (where the candy would be at a store in the U.S.) there are almost always locally grown organic vegetables (mostly carrots at this time of the year). These "Whole Foods"-type products are just about the only thing in the whole store that is really cheap! A mere two bucks for a large bag of locally grown organic carrots! The Danes seem to have a knack for using the tax system not just to raise revenue, but to shape society for the better as well. The 200% tax on cars is another great example. No wonder everyone rides a bicycle here. All right, enough of the singing of Denmark's praises. After I while it gets frustrating comparing Denmark to the U.S. because we seem to lose so badly in just about every category. At least Denmark has one very big deficit: good food. Cafes and restaurants aren't just wickedly expensive here; for the most part, they're also amazingly bland. Perhaps the Danish state is just gently encouraging my wife and me to cook for ourselves.... » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 14 Jan 2010 | 9:45 am Doritos “Boy Slaps Man” Commercial Shows Wit is the Best Way to Go ViralAdvertisers have spent hours of manpower trying to create the best viral videos. Some involve user participation; others cloak the fact that a corporate marketer came up with them. Although these methods create buzz, they don’t do anything a brilliantly-executed TV-style commercial couldn’t. Doritos’ new commercial proves that point. In it, a boy slaps his mom’s boyfriend for stealing his dorito. Simple, witty, and amazingly effective:
Source: Business Pundit | 14 Jan 2010 | 9:10 am Lee on Oil Prices, Stannard on Dollar, Kohl on Economy: AudioSource: Bloomberg - All Podcasts | 14 Jan 2010 | 7:55 am Morning Report: Obama Proposes Big Bank TaxBy Caitlin Kenney President Obama is expected to propose a tax on 50 of the largest financial firms operating in the U.S. today. The tax, called a "financial crisis responsibility fee," will be used to recover money spent on the TARP and help shrink the federal budget deficit. The amount charged to each financial institution will vary year by year, with the 10 largest institutions paying about 60 percent of the tax's total cost. Thanks to recent repayments by a number of institutions, the White House estimates that TARP costs have fallen to $117 billion, down from the $341 billion they estimated this summer. Officials expect that the tax will raise that amount in 12 years, but they say the tax will stay in place until all of the TARP money is recovered. U.S. retail sales unexpectedly fell 0.3 percent last month after increasing 1.8 percent in November. Total sales for the year were down 6.2 percent from 2008, but sales for October through December were up from the same period a year ago. Meantime, more Americans filed for jobless benefits last week than analysts had expected. The number of new applications was 444,000 up 11,000 from a week earlier. There was one bright spot in the report however, the 4-week moving average, a good measure of conditions week to week, fell 9,000 from the average a week earlier. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 14 Jan 2010 | 7:25 am Obama to Announce “Too Big to Fail” Tax: One Decade of Taxes, $90 Billion Collected
President Obama will announce his new bank tax today. Code-named the Financial Crisis Responsibility Fee, the tax will stay in effect until all TARP funds are covered. From the New York Times: The new tax on banks, insurance companies and brokerages with more than $50 billion in assets would start after June 30 and seek to collect $90 billion over 10 years, according to a senior administration official who briefed reporters late Wednesday. But the levy but would remain in force longer if all losses to the bailout fund, the Troubled Asset Relief Program, are not recovered after a decade. Administration officials now say that the losses from the $700 billion loan program created in October 2008 are likely to reach around $117 billion, which is about a third of the losses that the government projected just last summer — an improved forecast that reflects the strength of the recovery on Wall Street, even as Main Street struggles. The tax, which would be collected by the Internal Revenue Service, would amount to about $1.5 million for every $1 billion in bank assets subject to the fee. The administration is calling the tax a “financial crisis responsibility fee,” a name that suggests its political purpose as well as its fiscal implications. But since word of the tax began circulating earlier in the week, the big banks have been objecting that taxpayers actually made money on the bailout loans to financial institutions. Many, including Goldman Sachs and JPMorgan Chase, have repaid their federal funds with interest and the government also has made money in selling the banks’ warrants that it held as collateral. There’s politics behind this move, of course. From Naked Capitalism: So let’s return to today’s story and the PR corner that Team Obama has painted itself in. It isn’t willing to do the UK thing and decry banker bonuses as irresponsible and unwarranted. It had Kenneth Feinberg, the pay czar, take a few scalps, but it was clear the Adminsitration had no intention of challenging the financial industry’s right to loot and pillage. It isn’t even willing to say the profits are due almost entirely to subsidies, hence a windfall profits tax (presumably one focused on capital markets operations, that’s where the real juice is) is in order. Heavens, that might lead chump investors to question bank valuations and sell stocks! Horrors, can’t have prices that reflect fundamentals when the Administration has been pointing to the improvement in the financial markets as proof its policies are working. So the finesse is now to admit, in a reversal of its recent posturing, that yes Virginia, the TARP is losing money (this is the first time they have admitted the obvious). So that means banks need to pony up more for the cost of their rescue. Of course, we omit the complicating factor that AIG has been the biggest black hole, that the deal was retraded four times (or is it five now, I am losing track), and some money flowed through AIG to foreign banks like Societe Generale and Deutsche Bank, who will not participate in this little levy. Notice how this finesse keeps the focus on the TARP, the program the public already hates, and diverts attention from the man-behind-the-curtain stuff the Fed has been up to, or the FDIC guarantees on bond issued by the likes of Goldman. But the tax might also actually be a useful government remedy, as hard to believe as that is. Barry Ritholz explains how, besides closing the national deficit, the bank tax could solve the Too Big to Fail problem: Exempt small regional banks with under $25 billion in deposits. Make the tax progressive so it become increasingly larger as deposits become greater. $25-$50 billion in deposits is one fee (Let’s say 0.1%, that’s $25 million on $25 billion in assets). Have it scale to the point where its punitive — 1% on a trillion dollars in deposits. The goal here isn’t to raise money — its to force the TBTF banks to become smaller — to break up the Citigroups and the Bank of Americas. This tax will restore competition to the banking industry. These jumbo firms are the ones that can and will bankrupt the FDIC; They are the ones that put the entire system at risk. The bailouts reduced competition for them, and allowed a concentration of power that has been unprecedented. If our broken Congress cannot regulate the Too-Big-To-Fail banks, at the very least, we can tax the hell out of them. If the government added more bank regulations to this move, it might send a message that it’s serious about financial reform.
Source: Business Pundit | 14 Jan 2010 | 5:25 am Bad Headline for a Literacy Program
Source: Business Pundit | 14 Jan 2010 | 4:50 am European stocks climb before ECB decision (AFP)
Source: Yahoo! News: Stock Markets News | 14 Jan 2010 | 4:23 am
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