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23 Feb 2009 20:39

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Biz, U.S.: Our economy sucks as much as Third Eye Blind

  • 1997 the last time the stock market was this low source
Posted by Ernie Smith • 0 Comments • Permalink

23 Feb 2009 20:31

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Biz, U.S.: In Florida, get your foreclosure faster than fast food

  • 30,000 houses in Lee County, Florida are about to get foreclosed on; it’s one of the hardest-hit areas in the country source
Posted by Ernie Smith • 2 Comments • Permalink

23 Feb 2009 10:44

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Biz, U.S.: You know Citi? Well, you could soon be one of its owners!

  • 40% of Citi’s stock could be owned by the government source
Posted by Ernie Smith • 0 Comments • Permalink

22 Feb 2009 23:02

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Biz, U.S.: Philadelphia Inquirer owner files for bankruptcy. Oof.

  • $390 million in debt, which they’re “restructuring” source
Posted by Ernie Smith • 0 Comments • Permalink

22 Feb 2009 22:51

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Biz: A charge too far: US Airways stops charging for drinks

  • $1 for coffee, $2 for soda or water? The airline, in a desire to cut costs and bring in new sources of revenue to fend off bankruptcy, did things that other airlines did – charge for checked baggage, premium seats and using frequent-flier miles to book tickets. But charging for a soda seemed a bit much to most people, so in a memo to employees, CEO W. Douglas Parker said they would back off of the policy starting March 1. Kudos to them for realizing that there’s a limit to nickel-and-diming customers. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Feb 2009 21:10

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Biz, U.S.: CNBC’s Rick Santelli: He’s Internet famous now

  • 1.7 million Internet viewers can’t be wrong! Santelli, who went on a memorable (though polarizing) tirade against Obama’s foreclosure plan on Thursday, has drawn millions of viewers and a White House response to all that stuff he said. Press secretary Robert Gibbs bluntly proclaimed that Santelli “doesn’t know what he’s talking about.” Which should be a compliment to him at this point. Who knows? He may get his Chicago Tea Party yet. source
Posted by Ernie Smith • 2 Comments • Permalink

22 Feb 2009 10:58

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Biz, Tech: MS to laid-off employees: Whoops, we overpaid you!

You know that extra $20 on the severance package? Um, we need it back. source
Posted by Ernie Smith • 0 Comments • Permalink
 

22 Feb 2009 09:57

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Biz: You shouldn’t invest in a company that named a stadium

  • 4.7% decline below the S&P 500 average for companies involved in a sports venue naming rights deal source
Posted by Ernie Smith • 0 Comments • Permalink

21 Feb 2009 19:29

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Biz, U.S.: Obama wants cake, then to eat it (too), then go on a diet

  • Cutting the deficit Obama, who just signed a massive stimulus bill into law, then went to Canada to, uh, celebrate, spoke in his weekly radio address about the need to cut the deficit by the time his four-year term ends. With the extra spending, he’ll have his work cut out for him. But hey, that’s why we elected him to office, right – that whole change thing? source
  • Cutting the deficit Obama, who just signed a massive stimulus bill into law, then went to Canada to, uh, celebrate, spoke in his weekly radio address about the need to cut the deficit by the time his four-year term ends. With the extra spending, he’ll have his work cut out for him. But hey, that’s why we elected him to office, right – that whole change thing?
  • Already on the table He didn’t exactly come to office with a clean slate deficit-wise. He came in with a deficit of $1.2 trillion left by that Bush guy, which should probably rise to $1.5 trillion by the time all his stimulus stuff hits. In other words, imagine one of Scrooge McDuck’s giant money bins. Then imagine it empty. Then imagine jumping into it. source
  • Cutting the deficit Obama, who just signed a massive stimulus bill into law, then went to Canada to, uh, celebrate, spoke in his weekly radio address about the need to cut the deficit by the time his four-year term ends. With the extra spending, he’ll have his work cut out for him. But hey, that’s why we elected him to office, right – that whole change thing?
  • Already on the table He didn’t exactly come to office with a clean slate deficit-wise. He came in with a deficit of $1.2 trillion left by that Bush guy, which should probably rise to $1.5 trillion by the time all his stimulus stuff hits. In other words, imagine one of Scrooge McDuck’s giant money bins. Then imagine it empty. Then imagine jumping into it.
  • How he plans to do it Among other things, he’s suggested taxing the he investment income of hedge fund and private equity partners at higher rates. Currently, they’re taxed at the capital gains rate, which is 15 percent at most. He wants to tax them at ordinary income tax rates of as high as 39 percent. Which probably won’t make Rick Santelli happy. source
Posted by Ernie Smith • 0 Comments • Permalink

21 Feb 2009 11:11

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Biz, Tech: Prepaid cell phones are getting their comeuppance

  • 13% increase in the popularity of pay-as-you-go cell phone plans in the last year; it’s a small, but growing, niche market source
Posted by Ernie Smith • 0 Comments • Permalink
 
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