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23 Apr 2009 10:14

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Biz, U.S.: Our least favorite part of the week: Reporting on new jobless claims

  • 640,000 new claims this week. Sigh. source
Posted by Ernie Smith • 4 Comments • Permalink

23 Apr 2009 09:56

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Biz: Funny thing for UPS: When the economy slumps, people ship less

  • -56% dip for Brown, who hasn’t done much for us lately source
Posted by Ernie Smith • 0 Comments • Permalink

23 Apr 2009 08:29

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Biz, U.S.: Next on the list: Obama takes on the credit card industry

  • The Credit Cardholders’ Bill of Rights brings more transparency to the contractual relationship and give consumers the tools they need to responsibly manage their own credit.
  • Congresswoman Carolyn Maloney, D-NY • On her bill, which would level the playing field between consumers and the credit card industry, which often charges excessive fees that many consumers see as unfair. President Barack Obama will meet with leaders of the credit card industry today, during which he’ll likely attack some of their methods. • source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 23:17

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Biz, World: Advertising, newspapers, Zimbabwe & activism intersect. Whoa.

This may be the boldest advertising campaign we’ve ever seen. Zimbabwean currency, used for ads. Amazing. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 22:33

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Biz, Politics: Expect GM’s decision to screw over all sorts of industries

  • There could be failures in lots of different industries as a result of this. One lost job at GM can result in up to 10 lost jobs elsewhere.
  • Mark Zandi • Chief economist at Moody’s Economy.com, on the potential mushroom effect this GM taking a break business could have on the freaking economy. We recommend that those 10 lost jobs elsewhere stock up on the Peanut Butter Crunch, because there’s gonna be a run on it because of all the middle aged men watching cartoons on a Tuesday afternoon. • source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 22:22

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Biz, U.S.: GM: What’s a good way to clear car inventory? Stop making cars.

  • 15 car plants will shut down for nine weeks later this summer. Wow, that just sucks. o_O source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 14:55

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Biz, U.S.: Speaking of layoffs, taking a bullet won’t even save your job

  • He got shot during a story last year. Todd Smith, a reporter for the St. Louis Suburban Journals, was at a Kirkwood, Mo. City Council meeting last year when Cookie Thornton, who had a lawsuit against the city, shot and killed five people, then himself. Smith was shot in the hand. The coverage of the shootings made the St. Louis Post Dispatch – the Suburban Journals’ parent paper – a finalist for a Pulitzer Prize. Smith was laid off last Wednesday along with a bunch of other people. So no, taking a bullet won’t save your job. There goes our contingency plan. source
Posted by Ernie Smith • 0 Comments • Permalink
 

22 Apr 2009 14:20

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Biz: The Chicago Tribune axes a ton of people in the newsroom

  • 53 journalists got canned today, a ton, but less than expected source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 10:00

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Biz, U.S.: Why it sucks to be Morgan Stanley right now

  • $177 million The amount the financial company lost this quarter, which was unexpectedly large source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 09:10

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Biz, U.S.: Freddie Mac’s acting CFO found dead in an apparent suicide

  • The circumstances David Kellermann, a 41-year-old Freddie Mac executive who lived in the D.C. metro area, was found dead early this morning at his home in an apparent suicide. Kellermann had long been an executive with the company in various roles, but only became acting Chief Financial Officer last year at the peak of the financial crisis. source
  • The circumstances David Kellermann, a 41-year-old Freddie Mac executive who lived in the D.C. metro area, was found dead early this morning at his home in an apparent suicide. Kellermann had long been an executive with the company in various roles, but only became acting Chief Financial Officer last year at the peak of the financial crisis.
  • Not a fun job Freddie Mac was one of the early victims of the financial crisis. After housing’s freefall hit them hard, the company was taken over by the government in September. They then became a quasi-governmental agency that took on big parts of Obama’s recovery plan. Kellermann became acting CFO around this time. source
Posted by Ernie Smith • 2 Comments • Permalink
 
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