|
Latest Articles: Business/Finance
US Cities Going Bankrupt
Post Date: 2012-07-19 03:55:14 by Stephen Lendman
4 Comments
US Cities Going Bankrupt by Stephen Lendman In past decades, many US municipalities declared bankruptcy. Since 1981, 42 cases were filed. Ten came in the past four years. Given hard times getting harder, what's happening now is unprecedented since the Great Depression. Cities occasionally declare bankruptcy. In America, they're coming more often. Others in dire financial straits may follow. San Bernardino, CA is the latest. On July 11, The New York Times headlined "Third City In California Votes to Seek Bankruptcy," saying: Officials have no choice. They can't meet payroll obligations through summer. "Faced with a budget shortfall of $45 million and city ...
Anger after Bill Gates gives £6m to British lab to develop GM crops
Post Date: 2012-07-17 05:05:21 by Tatarewicz
1 Comments
The Bill and Melinda Gates Foundation has given British scientists a multi-million pound grant to develop GM crops in what could be the most significant PR endorsement for the controversial technology. The John Innes Centre in Norwich has received £6.4m for a five-year project to engineer cereals such as corn and barley to extract nitrogen from the atmosphere, rather than relying on ammonia-based fertilisers. But the decision by the Gates Foundation to invest substantial funds in technology that has been promising an agricultural revolution for almost two decades provoked anger last night. The money would have been better spent on proven bio-tech techniques and cheap ...
GlaxoSmithKline to acquire Human Genome for $3 billion
Post Date: 2012-07-17 03:02:16 by Tatarewicz
0 Comments
LONDON/BOSTON: GlaxoSmithKline is to acquire its long-time partner Human Genome Sciences Inc for a sweetened offer of about $3 billion, ending on friendly terms a three-month hostile pursuit of the US biotech company. The purchase price excludes Human Genome's cash and debt. Including cash and debt, the deal values Human Genome at about $3.6 billion. The deal comes after weekend talks in which Britain's biggest drug maker agreed to raise its cash bid to $14.25 a share from a previous $13, which Human Genome had rejected as inadequate. Poster Comment:Wonder where GSK will get the money?
I just love being a Banker
Post Date: 2012-07-16 11:40:19 by Itistoolate
4 Comments
THOUGHT FOR THE DAY! "The financial system has been turned over to the Federal Reserve Board. That board administers a finance system by authority of a purely profiteering group. That system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. This (Federal Reserve) Act establishes the most gigantic trust on Earth. When the president signs this bill, the invisible governments by the monetary power will be legalized. The people may not know it immediately but the day of reckoning is only a few years removed, the worst legislatives crime of the ages perpetrated by this banking bill." - Charles A. ...
Electricity Companies Now Charging Customers for Power Outages
Post Date: 2012-07-15 06:45:18 by Tatarewicz
0 Comments
The Mid-Atlantic region was struck with one of the year's nastiest storm to close out June and welcome in July. The storms amounted in widespread blackouts across much of the eastern United States with heaviest hit being Maryland, Virginia, and Washington, D.C. Residents were knocked off the grid for hours, days, and even up to a week without power as temperatures continued to hit triple digits the week following the storm. The region was up in arms with how poorly coordinated and organized the main electricity utilities responded to the storms and more hysteria looks to occur soon. Now that the storm's aftermath has passed and power has been restored, the outcry of residents ...
German government finances approaching corporate junk bond status
Post Date: 2012-07-11 04:49:19 by Tatarewicz
11 Comments
The German government, a AAA-borrower, is more likely to default than Viacom, a “near junk” borrower. At least, that’s what the credit default swap (CDS) market is saying. The CDS market may be wrong, of course, but it probably isn’t crazy. The AAA German government is bearing a very heavy burden these days, thanks to its financially challenged Eurozone companions. As a result of this burden — both immediate and prospective — the cost of insuring a 5-year German bond against default is higher than the cost of insuring a 5-year Viacom bond against a default. Price of Insuring AAA-Rated German Bonds vs. Insuring Near-Junk Viacom Bonds How could this be? The ...
Nine Trading Myths Explained
Post Date: 2012-07-10 06:37:33 by Tatarewicz
0 Comments
1) Trading is just like gambling This is the first thing I hear from family, friends, and new people I meet the moment that they discover I am a trader. What they do not understand and I fail to make them comprehend is that I am not the gambler, I am the casino. I trade with the odds in my favor over and over again with limited risk per trade, I do not plunge in with big trades with the odds against me. I am running a business buying and selling merchandise and participating in an auction not sitting at the roulette wheel or pulling the slot machine handle. 2) The markets are an exclusive club for brokers and rich people The markets are still the most free capitalistic place on earth ...
Many Wall Street executives say wrongdoing is necessary: survey
Post Date: 2012-07-10 05:23:07 by Tatarewicz
1 Comments
(Reuters) - If the ancient Greek philosopher Diogenes were to go out with his lantern in search of an honest man today, a survey of Wall Street executives on workplace conduct suggests he might have to look elsewhere. A quarter of Wall Street executives see wrongdoing as a key to success, according to a survey by whistleblower law firm Labaton Sucharow released on Tuesday. In a survey of 500 senior executives in the United States and the UK, 26 percent of respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace, while 24 percent said they believed financial services professionals may need to engage in unethical or illegal conduct to be successful. ...
China car maker Geely joins Fortune 500
Post Date: 2012-07-10 03:23:41 by Tatarewicz
0 Comments
The Fortune magazine announced July 9, 2012 the latest Fortune Global 500, an annual ranking of the world's largest businesses. Geely, now a rising carmaker, is included in the Fortune Global 500 for the first time since its founding in 1986 as a refrigerator manufacturer. In all, 79 corporations headquartered in the Chinese mainland, Hong Kong and Taiwan are listed in the latest Fortune Global 500. (Xinhua/Han Chuanhao) Click for Full Text!
Investments analyst expects natgas to rivive America's economy
Post Date: 2012-07-09 05:22:45 by Tatarewicz
4 Comments
Right now all across the Ring of Fire, a gold rush-like landgrab is taking place. Why? The Ring of Fire is home to the largest shale gas and oil reserves in the world... ringoffire2 Virtually overnight, landowners become "Ring of Fire millionaires" — and towns near the coveted reserves are bursting at the seams. In Mansfield, Louisiana, Scott G. quit his job at a local paper mill. He's now a cattle rancher, thanks to the money he got from this historic landgrab. Scott paid $70,000 cash for a tractor, and when he offered to pay cash at the dealership for the new Corvette he wanted, the salesman laughed... so he walked out. Now that's financial freedom, my ...
Iran plans to sell oil via consortium, evade ban
Post Date: 2012-07-09 04:21:38 by Tatarewicz
0 Comments
DUBAI, July 7, 2012 (Reuters) — Iran has reached agreements with European refiners to sell some of its oil through a private consortium, an official said on Saturday, a move designed to circumvent sanctions intended to put pressure on Tehran to halt its disputed nuclear program. The head of the oil products exporters' union said the agreement between the exporters' union, Iran's central bank, and the oil ministry would get round a European Union ban on shipping insurance for tankers carrying Iranian oil, though he gave few details and did not name the refiners involved. The EU put into effect a ban on the importation, purchase, or shipping of Iranian oil on July 1, and ...
China to invest USD 20bn to develop two Iranian oil fields: Qasemi
Post Date: 2012-07-09 01:52:53 by Tatarewicz
0 Comments
Iran's Oil Minister Rostam Qasemi says China has agreed to invest USD20 billion in developing north and south Azadegan and Yadavaran oil fields which will finally produce 700,000 barrels per day (bpd) of crude oil. Speaking to reporters in a visit to the Petropars Company on Sunday, the oil minister said the agreement for developing Azadegan and Yadavaran oil fields has been reached after 10-15 years of negotiations with the Chinese side. He added that the Chinese side has started its activities by investing USD20 billion dollars in the oil fields. “So far more than 20 drilling rigs have been installed in Azadegan and Yadavaran oil fields and plans have been made for the ...
The Socialization Of America Is Economically Impossible (Excellent!)
Post Date: 2012-07-06 17:08:27 by christine
7 Comments
I understand the dream of the common socialist. I was, after all, once a Democrat. I understand the disparity created in our society by corporatism (not capitalism, though some foolish socialists see them as exactly the same). I understand the drive and the desire to help other human beings, especially those in dire need, and the tendency to see government as the ultimate solution to all our problems. That said, let’s be honest; government is in the end just a tool used by one group or another to implement a particular methodology or set of principles. Unfortunately, what most socialists today don’t seem to understand is that no matter what strategies they devise, they will NEVER ...
Secret Saudi Conspiracy
Post Date: 2012-07-06 07:19:37 by Tatarewicz
3 Comments
The Saudis know something we don't. We know they're the world's largest exporter of oil. After Canada, that's where most of your $3.30/gallon goes. The country that supplied most of the 9/11 hijackers also supplies us with about 1.47 million barrels of oil a day. As a thank you, we send them about $127 million every single day. Does that make you angry? Me, too. So you'll be thrilled to hear about this... Advertisement Have You Heard of "Black Solar"? A tiny $1.00 tech firm in Upstate New York just did the impossible... They unlocked the secret to harnessing solar energy by doubling the power output and cutting the cost in half. This technology is so ...
US bank failures this year by state, at a glance
Post Date: 2012-07-06 03:16:38 by Tatarewicz
0 Comments
Here are the 31 U.S. bank failures so far this year by state. Listed are the date each bank was closed, where it was based and its assets. GEORGIA: First State Bank, Stockbridge, Jan. 20, $516.8 million Central Bank of Georgia, Ellaville, Feb. 24, $278.9 million Global Commerce Bank, Doraville, March 2, $143.7 million Covenant Bank & Trust, Rock Spring, March 23, $95.7 million Security Exchange Bank, Marietta, June 15, $151 million FLORIDA: Central Florida State Bank, Belleview, Jan. 20, $71.5 million First Guaranty Bank and Trust Co. of Jacksonville, Jacksonville, Jan. 27, $397.1 million Security Bank, North Lauderdale, May 4, $101 million Putnam State Bank, Palatka, June ...
ibor scandal: How I manipulated the bank borrowing rate
Post Date: 2012-07-04 15:30:17 by tom007
0 Comments
Libor scandal: How I manipulated the bank borrowing rate An anonymous insider from one of Britain's biggest lenders – aside from Barclays – explains how he and his colleagues helped manipulate the UK's bank borrowing rate. Neither the insider nor the bank can be identified for legal reasons. Stock Trader Clutching His Head in Front of a Screen Showing a Stock Market Crash What the trader told us was that the bank could not be seen to be borrowing at high rates, so we were putting in low Libor submissions Photo: Alamy 11:02PM BST 01 Jul 2012 CommentsComments It was during a weekly economic briefing at the bank in early 2008 that I first heard the phrase. A sterling swaps ...
Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets, analyze the Libor interest rate-rigging scandal engulfing the banking industry
Post Date: 2012-07-04 13:33:58 by christine
1 Comments
359 Safest Banks in America
Post Date: 2012-07-04 06:36:02 by Tatarewicz
0 Comments
The relationship between Americans and their banks used to be based on trust. As well it should. In many ways, banks make some of our biggest financial dreams come true. We go to the bank when we want to buy our dream home, and again when we remodel the kitchen. Our bank helps us buy that great new car we've been thinking about. When we retire, the bank turns a lifetime of savings into income by paying us interest on CDs, money markets and savings accounts. We trust banks to protect our hard-earned money. We expect that every dollar we put into our bank will be held safe until we come back for it. But what if the bank doesn't deserve our trust? In America, we have let our ...
Bernanke's $6 Trillion in Missing Cash
Post Date: 2012-07-04 04:49:36 by Tatarewicz
0 Comments
Much type has been wasted on the credit and liquidity crises of the past few years. Call it what you will — "extend and pretend" or "delay and pray." The result is the same. After many decades of credit expansion and malinvestment, the debt came due in 2008. Lehman Brothers was sacrificed on the altar of Charon and the Federal Reserve ginned up somewhere between $6 and $8 trillion to restore faith in the markets and get credit moving again. This Did Not Work In previous years when the central bank extended credit, it formed a bubble. Money goes where it is most loved... We had dot-com bubbles, subprime bubbles, and commodity bubbles. I remember the uranium ...
Cities With the Best Credit Scores 2012
Post Date: 2012-07-03 11:23:08 by Prefrontal Vortex
1 Comments
Cities With the Best Credit Scores 2012 If you live in the Midwest, then you live in the U.S. region where residents are the most responsible with their money. So says Experian, an agency that collects financial information about people, businesses, cars and insurance. They’ve analyzed the credit and debt habits of the American people and determined which cities have the people with the highest credit scores. The findings come from its second-annual “State of Credit” report. Those results are based on the average VantageScore by designated market area from January through June 2011. The VantageScore has a range of 501 to 900, from worst to best. Among other things, the ...
18 successful stock strategies
Post Date: 2012-07-02 07:26:29 by Tatarewicz
1 Comments
Trading in the stock market is like being in a Monopoly board game of ten total people and one person will end up winning the majority of everyone else’s money before the game is over. This is much like in trading where 10% of traders are profitable and the other 90% lose or just break even in the long term. If the 1 in 10 Monopoly winners consistently won game after game then you would want to know what they were doing differently than the other nine consistent losers. Well I do not know what the Monopoly winners were doing but here are what rich traders are doing differently. These principles were compiled after 13 years of successful trading and studying the winning traders ...
77% of JP Morgan’s Net Income Comes from Government Subsidies
Post Date: 2012-07-01 09:26:58 by bush_is_a_moonie
2 Comments
JP Morgan Sucks at the Government Teat JP Morgan’s credit rating would be much lower without government backing. As Bloomberg noted last week: JPMorgan benefited from the assumption that there’s a “very high likelihood” the U.S. government would back the bank’s bondholders and creditors if it defaulted on its debt, according to the statement. Without the implied federal backing, JPMorgan’s long-term deposit rating would have been three levels lower and its senior debt would have dropped two more steps, Moody’s said. And as the editors of Bloomberg pointed out a couple of weeks ago: JPMorgan receives a government subsidy worth about $14 billion a year, ...
Solar electricity becoming competitive
Post Date: 2012-06-30 01:18:11 by Tatarewicz
3 Comments
Cost Important Energy Event of the Decade It was 2007 when I wrote that: The solar market is still very fragmented. And that's because no clear winner(s) have emerged. For the solar industry to really establish roots and confirm its position as a future energy stalwart, it must first reach what has become known as "grid parity." That's when the price of producing electricity via PV reaches the price of buying electricity at the retail level. It is predicted that solar will not reach it for the next five to seven years. During that time, every company will be striving to drive down costs in order to compete with traditional sources of energy. As that happens there will ...
Sell oil stocks
Post Date: 2012-06-28 06:54:41 by Tatarewicz
0 Comments
Oil stocks have fallen more than any other market segment this year. According to Bloomberg: The MSCI World Energy Index (MXWO) has declined 9.6 percent this year, more than any other group. The divergence reflects the transformation of an industry where growing consumption of energy has been met with even bigger gains in supply. U.S. crude inventories are the highest since 1990 and natural gas prices have lost 38 percent in 12 months amid a glut spurred by hydraulic fracturing. When to Sell I’ve been trading oil for about 15 years now. I love the oil trade because it has a long cycle. You buy when it’s going up and sell when it’s dropping. It takes a lot of time and ...
Solar power complimented by cheap natgas
Post Date: 2012-06-28 05:51:48 by Tatarewicz
1 Comments
U.S. had no winter this year. Obviously, a nation of +300 million not having to kick up the heat as much will do a lot to suppress natural gas demand. Increased use of natural gas for transportation (15-20 natural gas fueling stations are being built every month) will help eat up some supply. And so will the construction of new natural gas generation plants to replace outdated coal-burning ones utilities are choosing to shut down as they reach the end of their useful lives. But the main reason the boots and Birkenstocks will come together is that they need each other. Complementary interaction with renewables is a major market for natural gas. Conversely, a natural gas backup helps ...
Latest [Newer] 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 [Older]
|