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21 Mar 2009 08:34

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Biz, U.S.: AIG’s feeling the pressure from nearly half the union’s states

  • 20 states launched investigations over those crazy bonuses source
Posted by Ernie Smith • 0 Comments • Permalink

20 Mar 2009 13:37

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Biz, U.S.: Americans are staying home, not having fun anymore

  • 22% decline in travel and tourism spending in late 2008 source
Posted by Ernie Smith • 0 Comments • Permalink

20 Mar 2009 13:02

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Biz, Music: The music industry sees a customer gap unfolding

  • -17 million fewer customers bought CDs in 2008. That’s pretty bad for the music industry, friends. source
Posted by Ernie Smith • 0 Comments • Permalink

20 Mar 2009 10:04

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Biz: Whoa. Wal-Mart handed out AIG-style bonuses to the cashiers!

  • $933 million in bonuses were handed out by the mega-retailer. Unlike AIG, we want them to hand these out. source
Posted by Ernie Smith • 0 Comments • Permalink

19 Mar 2009 10:45

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Biz, U.S.: Are too many dollar bills going to get printed?

Where is George? He’s everywhere. And investors are scared that he’ll be weaker after more of him enter the market. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Mar 2009 22:07

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Biz, U.S.: Another attempt to jumpstart the economy by the Federal Reserve

  • Chairman Ben Bernanke said the Federal Reserve would buy back up to $300 billion in long-term government bonds. source
  • Bernanke also announced a plan to buy back up to $750 billion in bad mortgages. Together, that’s over $1 trillion. Whoa. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Mar 2009 21:13

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Biz, U.S.: *FOREHEAD SLAP* Good one Chris Dodd *FOREHEAD SLAP*

  • As many know, the administration was, among others, not happy with the language. They wanted some modifications to it. They came to us, our staff, and asked for changes, and the changes at the time did not seem that obnoxious or onerous.
  • Sen. Christopher Dodd • On adding a provision to the stimulus bill allowing AIG to give out massive bonuses to its employees. He was asked to make these changes by the Treasury, which seems to have a lot of power over legislation considering they’re not legislators. Dodd wants to tax the bonuses, BTW. • source
Posted by Ernie Smith • 0 Comments • Permalink
 

18 Mar 2009 10:31

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Biz, Tech: IBM wants to get some more Sun in their life

  • $7
    billion     size of the proposed merger of the two technology superpowers source
Posted by Ernie Smith • 0 Comments • Permalink

18 Mar 2009 10:27

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Biz, U.S.: AIG’s CEO has an explanation for the bonuses

  • We have to continue managing our business as a business – taking account of the cold realities of competition.
  • AIG CEO Edward Liddy • On why they have to give out the bonuses. Essentially, as was suggested yesterday in this editorial, AIG needs to give out the bonuses to retain their employees. He’s telling this to congress right now, by the way. • source
Posted by Ernie Smith • 0 Comments • Permalink

17 Mar 2009 10:29

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Biz, Politics: A rare argument in favor of letting AIG keep their bonuses

  • Tearing up contracts could set a bad precedent. Obama and large swaths of the government (and large numbers of taxpayers) don’t like having to pay $165 million in bonuses, but it may just be in their best long-term interest to bite the bullet, argues Andrew Ross Sorkin. “If you think this economy is a mess now,” Sorkin argues, “imagine what it would look like if the business community started to worry that the government would start abrogating contracts left and right.” Oh boy. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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