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05 Mar 2009 10:30

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Biz: Wal-Mart: Where everybody shops because they’re broke

  • 5.2% increase in same-store sales during the month of February for the mega-retailer source
Posted by Ernie Smith • 0 Comments • Permalink

04 Mar 2009 10:33

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Biz, U.S.: Job-wise, February sucked worse than January

  • 697,000 jobs were lost in the private sector in February source
Posted by Ernie Smith • 4 Comments • Permalink

04 Mar 2009 10:22

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Biz: Once part of the housing problem, now part of the solution?

  • It is very important to the entire team here to be part of a solution.
  • Stanford L. Kurland • Former president of Countrywide, a company synonymous with the housing crisis, on his new venture, PennyMac. PennyMac buys back delinquent mortgages and resells them. While some homeowners claim to be helped, some critics claim it’s like an arsonist who sets fire to the home, “then buys up the charred remains and resells it.” • source
Posted by Ernie Smith • 0 Comments • Permalink

04 Mar 2009 10:12

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Biz, U.S.: Obama’s foreclosure rescue program: Open for business

  • 5 million homeowners could be assisted by the $75 billion program source
Posted by Ernie Smith • 0 Comments • Permalink

04 Mar 2009 10:08

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Biz: Video retailer Blockbuster should rent out its massive debt

  • $900 million in accounts payable to studios, vendors and other suppliers source
Posted by Ernie Smith • 0 Comments • Permalink

03 Mar 2009 21:54

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Biz, Tech: Google to execs: You kept us profitable. Here’s your payday.

  • 4 top execs got bonuses of $1.2 million or more for boosting profits source
Posted by Ernie Smith • 0 Comments • Permalink

03 Mar 2009 10:47

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Biz, U.S.: In Denver, the Rocky’s former staff goes all groupblog

Good for you guys! Need some help? We have some ideas. Tip 1: Get ads. Now. source
Posted by Ernie Smith • 0 Comments • Permalink
 

02 Mar 2009 21:00

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Biz, U.S.: AIG is still around, but it’s really dead in its current form

  • Why it needs to die Simply put, it’s too freaking big. Any company that posts a $61.5 billion loss in income in a single quarter – they lose more money in a minute that most of us see in a year – is too freaking big. Ever throw $400 grand into a fire, then do it again 150,000 times? It’s kind of like that. source
  • Why it needs to die Simply put, it’s too freaking big. Any company that posts a $61.5 billion loss in income in a single quarter – they lose more money in a minute that most of us see in a year – is too freaking big. Ever throw $400 grand into a fire, then do it again 150,000 times? It’s kind of like that.
  • Government control In exchange for yet another $30 billion bailout, two of AIG’s largest assets – American International Assurance and its Asian operations – will be directly owned by the government and will be sold. Taxpayers, who now largely own AIG, will reap the benefits – eventually. source
  • Why it needs to die Simply put, it’s too freaking big. Any company that posts a $61.5 billion loss in income in a single quarter – they lose more money in a minute that most of us see in a year – is too freaking big. Ever throw $400 grand into a fire, then do it again 150,000 times? It’s kind of like that.
  • Government control In exchange for yet another $30 billion bailout, two of AIG’s largest assets – American International Assurance and its Asian operations – will be directly owned by the government and will be sold. Taxpayers, who now largely own AIG, will reap the benefits – eventually.
  • A smaller, leaner AIG Why is the government putting so much work into keeping the monster alive? Well, if they don’t, it will worsen the stock market collapse even further. But when the dust is settled, don’t expect the company – if it survives – to remain in its current form. It’s too freakin’ big. source
Posted by Ernie Smith • 0 Comments • Permalink

01 Mar 2009 22:22

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Biz, U.S.: The U.S. props up AIG with even more money

  • $60 billion the projected quarterly loss the insurer plans to announce tomorrow – the largest ever. That sounds incredibly sucky, guys. :/ source
Posted by Ernie Smith • 0 Comments • Permalink

28 Feb 2009 16:30

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Biz: Warren Buffet’s company posted a massive profit decline

  • 96% 4Q dip in profits for Berkshire Hathaway Inc. Jesus. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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