If a person lives long enough, he can watch everyone forget everything they learned. Everyone includes Federal Reserve Chairmen, economists, Bank of America “strategists,” and even Bloomberg.com. Federal Reserve Chairman Ben Bernanke thinks he can hold down US long-term interest rates by purchasing mortgage bonds and US Treasuries. Sixty years ago the Federal Reserve understood [...]
Archive for the ‘Economy | Finance’ Category
Did U.S. Leaders Sleep Through History Class?
Posted: 9th June 2009 by Veritas in Economy | FinanceTags: bank of america, bernake, bloomberg, bonds, China, fed, geithner, money, treasury
3
Rough Economy Drives Divorce Rate Down
Posted: 9th June 2009 by Veritas in Economy | Finance, LifestyleTags: British, credit, divorce, Economy | Finance, rate
Fewer British couples are filing for divorce as a sharp drop in property prices makes it hard for couples to sell a joint home, and the credit crunch dampens a desire to fund two separate households, a study shows. The study, published by Grant Thornton accountants, showed that almost half of all surveyed matrimonial lawyers [...]
Mother ‘Unable to Pay School Fees’ Drowned Son
Posted: 8th June 2009 by Sus Scrofa in Crime, Economy | Finance, PoliticsTags: bills, drowned, mother, murder, poor
A mentally ill woman has admitted killing her 11-year-old son at their home in Kent following claims that she could not afford to continue paying his school fees.
Cowboy in N. Dakota Hits It Big…$232 Million
Posted: 6th June 2009 by Veritas in Economy | Finance, LifestyleTags: assman, cowboy, lottery, neal wanless, north dakota, rancher, winner
It has the makings of a Hollywood script: A young rancher struggling to eke out a living in one of the poorest corners of the nation claims one of the biggest undivided jackpots in U.S. lottery history — $232 million — after buying the ticket in a town called Winner. As he sported a black [...]
Saturn Thankful, as Penske Buys Company from GM
Posted: 5th June 2009 by Veritas in Economy | FinanceTags: automotive, bailout, Bankruptcy, general motors, GM, penske racing, roger penske, saturn, tarp
General Motors Corp. has a tentative deal to sell its Saturn brand to former race car driver and dealership group owner Roger Penske, both companies said Friday. Penske has signed a memorandum of understanding that would give his dealership chain, Penske Automotive Group, Saturn’s 350 dealerships, the companies said. Penske said that he expects to [...]
GM’s Meltdown Continues; Hummer Goes to China
Posted: 3rd June 2009 by Veritas in Economy | FinanceTags: Bankruptcy, China, general motors, GM, heavy industrial machinery, hummer, sichuan tengzhong
General Motors Corp said on Tuesday it reached a tentative deal to sell its Hummer brand to a privately held Chinese heavy machinery maker, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company. GM, a day after filing for bankruptcy, said in a statement that it reached [...]
GM’s Long History of Bad Business Moves
Posted: 2nd June 2009 by Veritas in Economy | FinanceTags: auto, bailout, Bankruptcy, cadillac, car, chevrolete, chevy, GM
Over its history General Motors has made its share of bad products. Some were poorly built, some were badly executed, others suffered from lousy timing. Here’s a look at some of GM’s biggest misses over the years.
Its Official – Auto Giant GM Declares Bankruptcy
Posted: 1st June 2009 by Sus Scrofa in Economy | FinanceTags: american car, auto industry, auto workers, automobile, bankrupt, Bankruptcy, broke, general motors, GM
In the largest industrial bankruptcy ever seen in U.S. history, General Motors Corp., the top U.S. automaker and once the world’s largest corporation, filed for bankruptcy protection on Monday.
Will Restructuring Salaries on Wall Street Harm the Economy?
Posted: 29th May 2009 by Veritas in Economy | FinanceTags: bailout, banks, compensation, geithner, Obama, performance, tarp, wall street
Rewarding employees for hard work, and not just for showing up, has become a key tenet of good corporate compensation policy. So why are some Wall Street firms sending a very different message? Wall Street has long showered lucrative annual bonuses on bankers and traders who delivered big profits. But the dozens of big banks [...]
Time Warner Ditches the Struggling AOL
Posted: 28th May 2009 by Veritas in Economy | FinanceTags: aol, cable, film, google, internet, media, publishing, time warner
Time Warner Inc on Thursday made official plans to separate its AOL division sometime around the end of this year, a widely expected move that sheds one of the media company’s weakest divisions. For Time Warner, the move represents a return to its roots as a pure content company with a focus on its cable [...]
Money Secrets of the Average Joe Millionaire
Posted: 28th May 2009 by Veritas in Economy | Finance, LifestyleTags: budget, Economy | Finance, millionaire, money, secrets, spending
Saving thousands while still spending. Millionaires make up just 2 percent of the population. They get a bad rap during recessions for being wasteful with their money and are frequently used as examples of excess. It’s the millionaires that you don’t see that you can learn from in times like these. I call them the [...]