Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on Twitter • Be a Facebook Fan • Tumble us!

19 Oct 2011 16:07

tags

Biz: Citigroup settles civil fraud complaint over derivatives scheme

  • $285 million payout by Citigroup over fraud complaint source
  • » A tidy little sum: It’s being reported that Citigroup has agreed to the above settlement, which would bring to an end a civil fraud complaint filed by some of their investors. The story is, as it happens, quite similar to what Goldman Sachs was found to have done (Goldman shelled out $550 million in that case). Citigroup helped structure investment portfolios for their clients without telling them that the bank itself was selecting the assets while betting against their success. In simple terms, a conflict of interest, and one that netted the company nearly $1 billion dollars. That figure, also, says something about the problem of mega-corporations buying out of legal trouble; namely, the amount it costs to satisfy a plaintiff is nearly never enough to such a company to truly dissuade the behavior.
Posted by Chris Tognotti • 0 Comments • Permalink

19 Oct 2011 15:04

tags

Biz: Apple’s quarterly profits below expectations for first time since 2004

  • 6% drop in price of Apple shares in wake of 3rd quarter results source
  • » But they’re not so worried: Parsing the present-day meaning of past quarter business reports can be a sketchy task, especially considering that in Apple’s case, the recently released iPhone 4S is expected to lend a surge to their profits, though that won’t come across until the current quarter’s figures come out. (One company official specifically blamed iPhone 5 rumors for hurting the company’s bottom line.) And despite the dip in share prices, Apple’s actual business in the 3rd quarter was yet robust; profits increased by 54%, and sales went up 39%. And since we’re talking Apple, we’d be remiss not to mention also that there’s a Steve Jobs memorial exclusively for employees that’s happening today; Apple’s Cupertino campus is hosting, and Apple stores nationwide will be closing for the duration to allow staff to watch.
Posted by Chris Tognotti • 0 Comments • Permalink

18 Oct 2011 17:33

tags

Politics: Herman Cain keeps voters in the dark on his advisers

  • The Cain Brain: In advance of tonight’s GOP debate, everybody is tabbing new polling frontrunner Herman Cain as the man to watch. Since last debate, however, he’s absorbed scrutiny over his foreign policy credentials (or lack thereof), which has been exacerbated by Cain’s refusal to name his advisers. He himself spoke to this strategy in Tennessee last week: “I’m not going to tell you! They’re my advisers, not yours. They just want to know who my smart people are so they can attack them.” This is a tact that we don’t think will benefit Cain. Voters like to feel as if candidates are being more open than they need to, not less. Employing a “need to know basis” sort of argument over his adviser’s very identities just comes off badly. source
Posted by Chris Tognotti • 0 Comments • Permalink

18 Oct 2011 16:02

tags

World: Sec. of State Clinton visits post-Gaddafi Libya for first time

  • We want to do everything we can to prevent him from causing trouble for the new Libya. We don’t know where he is, but we hope he can be captured or killed soon so you don’t have to fear him any longer.
  • Secretary of State Hillary Clinton • Speaking in Libya, to the interim National Transitional Council. Clinton is the highest-ranking U.S. official to visit Libya since the toppling of Muammar Gaddafi’s government during August, though the former dictator is still in hiding and his loyalists have continued to clash with NTC forces in places such as Brega. In light of the NTC’s somewhat daunting task in rebuilding Libya, especially with Gaddafi still at large and presumably eager to derail that process, Clinton and the U.S. wanted to lend some support that would also be beneficial from an optics standpoint — it should be noted, though, that the U.S. has said Clinton’s “captured or killed” phrase isn’t meant to represent any change in policy.  source
Posted by Chris Tognotti • 0 Comments • Permalink

11 Oct 2011 16:04

tags

U.S.: Officials say FBI foiled Iranian-backed bombing plot

  • Iranian bombing plot stymied by FBI: American officials reported today that the FBI infiltrated and derailed a terrorist plot backed by Iran. The plan involved paid collusion from an elite Iranian security force to the Zeta drug cartel of Mexico (unbeknownst to the Iranians, the contact they believed to be with the Zetas was cooperating with the FBI). The intended outcome was a bomb going off at a Washington D.C. restaurant, which would have killed Adel Al-Jubeir, Saudi Arabia’s ambassador to the United States. This is big news, as a publicly disseminated example of Iran as a state supporter of terrorism; it has been viewed as such by the U.S. State Department since 1984. source
Posted by Chris Tognotti • 0 Comments • Permalink

10 Oct 2011 19:18

tags

Politics: Wallace Shawn joins Occupy Wall Street

  • Getting in the act: That Wallace Shawn (he of “The Princess Bride” and a notable dinner with a guy named Andre) chose to align himself with Occupy Wall Street shouldn’t come as a shock to anybody familiar with the man’s politics — he lent a hand to Michael Moore for a few scenes of “Capitalism: A Love Story,” for example. That said, the ever-expanding sphere of Occupy Wall Street’s influence continues to draw in bigger organizations (support from major unions) and famed personalities (hey look, it’s Mark Ruffalo) — as we mentioned, even a GOP presidential candidate, albeit the hopelessly unknown Buddy Roemer, plans to stop by. We’ll take this guy over Kanye any day of the week. source
Posted by Chris Tognotti • 0 Comments • Permalink

10 Oct 2011 16:32

tags

Politics: Gov. Jerry Brown signs open-carry gun ban in CA

  • That makes them the fifth state to have such a ban: Governor Jerry Brown signed the bill into law amidst heavy opposition from pro-gun politicians and organizations. The law makes it a misdemeanor to carry an exposed, unloaded gun out in public or in one’s vehicle, with penalties ranging from a $1000 fine to a year in prison. This law does not affect people’s right to keep properly registered firearms at home, exempts shooting and hunting events, and doesn’t change the rules for people with permits to carry concealed weapons, but that hasn’t blunted criticism. Said GOP assemblyman Tim Donnelly: “It’s really a form of tyranny.” source
Posted by Chris Tognotti • 0 Comments • Permalink
 

10 Oct 2011 16:09

tags

Politics: Polling shows Romney up big in New Hampshire despite tepid voter loyalty

  • 38% of New Hampshire GOP voters support Mitt Romney, according to a St. Anselm/Harvard poll
  • 10% of those same voters say they’re “definitely” voting for Romney — now that’s some dissatisfaction source
  • » Sorry guys, but Mitt’s it. It’s clear as ever this isn’t the position the GOP base wants to be in. To be clear, Romney’s polling lead is huge — Herman Cain came in second place with 20%, a full 18 points behind. The enthusiasm problem, however, as displayed by the discrepancy between his general support and those truly committed to him, should be a warning sign for Team Romney. Successful political figures usually need to inspire an extreme degree of loyalty amongst their base to weather the missteps, gaffes or scandals that usually occur over the course of a long campaign process. If it’s true that nearly 3/4ths of Romney’s New Hampshire supporters are still theoretically open to jumping ship? That’s a problem.
Posted by Chris Tognotti • 0 Comments • Permalink

10 Oct 2011 15:20

tags

Politics: Joe the Plumber to run for Congress in 2012

  • That may be Rep. Wurzelbacher to you: Today’s profile in not realizing when your moment has passed comes courtesy of “Joe the Plumber,” who has filed papers to run for the House of Representatives in Ohio’s 9th congressional district. (Among the other folks running: Joe’s polar opposite, Dennis Kucinich, who will be mired in a primary as a result of redistricting.) Joe’s rise to national prominence came in 2008, after he challenged then-candidate Barack Obama at an Ohio event over his tax plan, then became a McCain talking point in the final presidential debate. There was a brouhaha he might run back in 2010, when he would’ve been part of the conservative tide rushing into Washington, and that climate would’ve buoyed him, but now? We think that was his shot, and he passed on it. source
Posted by Chris Tognotti • 0 Comments • Permalink

10 Oct 2011 14:41

tags

World: Far-left party gains unexpected strength in Polish Parliament

  • We’re fighting a culture of delegalisation. In Poland, you go to jail for insulting the President, for a word, for insulting religious feelings, insulting an official. You go to jail for drinking beer and then walking with your bike. You go to jail for smoking a joint. For abortion. This is a nihilist policy which hurts people.
  • Janusz Palikot, Polish MP • Laying out a cursory platform for his eponymous “Palikot Movement,” a far-left political party which unexpectedly surged in Poland’s election on Sunday, capturing 10% of the vote. Palikot now sits atop the relatively inexperienced liberal wing of the Polish parliament, and has been uncompromising in his advocacy of a liberal secularization of Poland. Of particular note, given the prominent role the Catholic Church plays in public life in Poland — he’s calling for an end to public funding for religious courses taught in state schools. Palikot, a former vodka magnate, was first elected in 2005. source
Posted by Chris Tognotti • 0 Comments • Permalink
 
<< newer 
top tags
older >>