Tag: Economics
Detroit's Hot 2009 Model: The Federal Bailout
profwhat.
Posted to Business on Wed Nov 12, 2008 at 12:37:22 PM EST (promoted by DEMachina). RSS.
General Motors is worth about as much as it was in 1948, Ford just had its worst month of auto sales since the end of World War II, and Chrysler barely even exists anymore. Times are bad for the U.S. auto industry; so bad that G.M. has bluntly stated it may run out of money before the end of the year, placing its ability to "continue as a going concern" at serious risk. GM says its last best hope is a federal bailout, and Democratic leaders -- including President-elect Obama -- seem to be listening.
(19 comments, 156 words in story) Full Story
Freddie's Dead?
3fingerspointback.
Posted to Business on Tue Jul 15, 2008 at 05:17:41 PM EST (promoted by port1080). RSS.
When a big bank like IndyMac fails, it may cost the government up to $8 Billion out of its FDIC fund to compensate burned account holders. When huge banks like Bear Stearns fail, the Fed might front cash to buy the riskiest $29 Billion in order to get the rest of the business into the hands of another company and keep the machine running. And then there are the banks like Fannie Mae (FNMA) and Freddie Mac (FHLMC).
(13 comments, 677 words in story) Full Story
Nickel-And-Diming The Penny Into Irrelevance
MayorBob.
Posted to Business on Wed Mar 05, 2008 at 02:10:49 PM EST (promoted by 1fastdog). RSS.
When Secretary of the Treasury Henry Paulson talks money, people listen. Paulson recently slammed the penny calling it "worth less than any other currency." This piece of obviousness (the penny is the lowest piece of US currency) aside, perhaps it's time to think about doing away with the coin.
(29 comments, 368 words in story) Full Story
The Panic of 2008
profwhat.
Posted to Business on Mon Jan 21, 2008 at 11:35:43 PM EST (promoted by port1080). RSS.
While American traders had a one-day holiday, markets in the rest of the world crashed. European markets had their biggest losses since the terrorist attacks in 2001. This comes after the U.S. stock market had its worst week for five years, and Asian markets similarly crashed.
(34 comments, 112 words in story) Full Story
Minimum wage workers get 70¢ raise
pO157.
Posted to Business on Tue Jul 24, 2007 at 01:22:27 PM EST (promoted by port1080). RSS.
On July 24th, minimum wage earners in the United States get a mandated raise to $5.85 an hour. This applies only in the 18 states where local governments have not already raised the rate above the previous $5.15hr.
(40 comments, 195 words in story) Full Story
If you ain't [worth] no money take your broke ass home!
pO157.
Posted to Business on Thu Jun 14, 2007 at 05:34:19 PM EST (promoted by port1080). RSS.
525,600 minutes, 525,000 moments so dear
525,600 minutes how do you measure a year?
In daylights, in sunsets, in midnights, in cups of coffee
In inches, in miles, in laughter, in strife?
In 525,600 minutes - how do you measure a year in the life
How about... money?
(7 comments, 426 words in story) Full Story
50 Nifty Years: The EU Celebrates Its Golden Anniversary
pO157.
Posted to Etcetera on Fri Mar 30, 2007 at 02:45:03 AM EST (promoted by 1fastdog). RSS.
They came from all over, including Ethiopia, to celebrate its 50th Anniversary.
(4 comments, 216 words in story) Full Story
Wal-Mart Workers Want Wage Whitewash Withdrawn
pO157.
Posted to Etcetera on Wed Aug 23, 2006 at 05:10:34 PM EST. RSS.
On August 23, a hearing will be held to determine whether a temporary restraining order should be granted to stop "improper communications" from Wal-Mart. These alleged communications have been described as "borderlin[ing] on criminal witness intimidation," which is supposedly being carried out by local store managers.
(56 comments, 202 words in story) Full Story
There are two certain things in life, death and taxes and taxes.
pO157.
Posted to Etcetera on Sun Jul 23, 2006 at 03:30:04 PM EST. RSS.
Poland has inked a deal to end the double taxation of its citizens who have been residing in the UK since its entry into the European Union a few years ago.
(18 comments, 137 words in story) Full Story
