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Latest Articles: Business
Title lenders fight to keep records secret
Post Date: 2015-12-11 10:44:59 by Willie Green
3 Comments
Three major auto-title lenders have filed legal petitions to block Virginia state officials from releasing company annual reports to the Center for Public Integrity, arguing that doing so would seriously damage their businesses. The title loan industry, which is dominated by three Georgia-based companies, has come under fire from consumer advocates and some lawmakers for charging interest rates that can exceed 300 percent in some states and seizing the cars of borrowers who fail to repay their loans. Title loans are legal in about half the states, and the three major companies operate more than 3,000 stores, including more than 200 in Virginia. The three lenders are: TitleMax of Virginia; ...
Workers At Trump Hotels Vote To Join Culinary Union
Post Date: 2015-12-10 16:34:13 by Willie Green
5 Comments
It looks like the Trump International Hotel in Las Vegas will be unionized. On Dec. 4 and 5, more than 500 hotel employees voted to join the Culinary Workers’ Local 226 and the Bartenders Union Local 165 of Unite Here. And just last week, workers at the Trump International Hotel in Toronto signed their first union contract. So, the country’s leading anti-union presidential candidate is dealing with at least two of his properties voting to unionize. With us to talk about what that means is Geoconda Arguello Kline, the secretary-treasurer of Culinary local 226. Guests: Geoconda Arguello Kline, secretary-treasurer, Culinary Workers Union Local 226 Click for online Podcast!
Solid U.S. employment report a green light for Dec rate hike
Post Date: 2015-12-04 09:21:39 by cranky
1 Comments
A job seeker (C) talks to an exhibitor at the Colorado Hospital Association health care career fair in Denver April 9, 2013.U.S. job growth increased solidly in November in a show of the economy's resilience, which most likely paves the way for the Federal Reserve to raise interest rates this month for the first time in nearly a decade. Nonfarm payrolls increased 211,000 last month, the Labor Department said on Friday. September and October data was revised to show 35,000 more jobs than previously reported. The unemployment rate held at a 7-1/2-year low of 5 percent, even as people returned to the labor force in a sign of confidence in the jobs market. The jobless rate is in a range ...
Trump booed by GOP Jews
Post Date: 2015-12-04 06:30:48 by Willie Green
28 Comments
The front runner for the Republican nomination, Donald Trump, is not used to icy receptions. That's why - it may have been jarring for the business mogul to be openly booed at the Republican Jewish Coalition Presidential forum on Thursday, where every single GOP candidate appeared, except for Kentucky Sen. Rand Paul. The jeering happened when a moderator, who asked questions after Trump's speech, asked Trump if he would unequivocally name Jerusalem as the unquestioned capital of Israel."You know what I want to do? I want to wait till I meet with Bibi, you know, I'm leaving for Israel in a very short period of time."Trump was referring to Israeli Prime Minister Benjamin ...
World View: Obamacare in Death Spiral as UnitedHealth Announces Pullout
Post Date: 2015-11-21 12:41:22 by Don
3 Comments
This morning’s key headlines from GenerationalDynamics.com •UnitedHealth warns of end to its Obamacare business •Obamacare versus Nixon’s price controls •New York Times: Obamacare’s high deductibles make insurance all but useless UnitedHealth warns of end to its Obamacare business An Obamacare promotional banner from happier days (Teneshia LaFaye) An Obamacare promotional banner from happier days (Teneshia LaFaye) UnitedHealth Group, the country’s largest health insurer, announced on Thursday that it was expecting to lose $600 million on Obamacare policies in 2016 from the health insurance exchange websites, and may terminate its Obamacare business by ...
Free-Market Santa Charging Up to $50 for Visits
Post Date: 2015-11-16 17:39:02 by Willie Green
4 Comments
The holiday spirit is very entrepreneurial this year. Traditionally, the “Santa” hired by the mall was paid for by the mall, to attract customers and boost the “holiday spirit” and its financial effect. But at the Cherry Hill Mall in New Jersey, they’ve set up a free-market Santa—if you want to sit on his lap, you’ll have to cough up as much as $50. Of course, in the mythology, this would be quid pro quo. Give Santa some money and he’ll come back on the 25th with something nice—that seems to add a second side to a very long-term one-sided deal. But since the Santa-child dynamic is a little more complicated (hint hint, let’s not ruin this for ...
Millions Face Premium and Deductible Sticker Shock under Obamacare
Post Date: 2015-11-12 09:11:26 by Justified
1 Comments
Millions of Americans who recently began shopping for new health insurance coverage under Obamacare may be suffering from sticker shock. Increases in 2016 premiums for health insurance coverage -- ranging from basic to top-flight policies -- will be in the double digits and easily eclipse premium hikes recorded between 2014 and 2015, according to a new analysis from consulting firm McKinsey & Co. For instance, monthly premiums for the lowest-price Silver plan under the Affordable Care Act will rise by a median rate of 11 percent in the coming year, compared to just a 7 percent rate increase between 2014 and 2015, the study shows. Across the board, the projected rate hikes for the ...
Roger Stone Claims He Fired John Kasich from ’76 Reagan Campaign for Selling Pot
Post Date: 2015-10-29 16:00:03 by Hondo68
8 Comments
2016 Republican presidential candidate and Ohio Governor John Kasich's campaign disputed the former Donald Trump campaign adviser's claim.Depicted: John Kasich. Photo credit: Marc Nozell. At Wednesday night’s CNBC Republican presidential debate, Ohio Governor and 2016 Republican presidential candidate John Kasich answered a question on marijuana legalization by saying, “Sending kids mixed signals about drugs is a disaster.” Following Kasich’s comment, former Donald Trump campaign adviser and Republican strategist Roger Stone issued a tweet calling the answer hypocritical and claiming that he once fired Kasich from Ronald Reagan’s 1976 presidential campaign ...
Overstock Holds 3 Months Of Food, $10 Million In Gold For Employees In Preparation For The Next Collapse
Post Date: 2015-10-26 11:26:40 by Deckard
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Overstock CEO Patrick Byrne's crusade against naked short sellers in particular, and Wall Street and the Federal Reserve in general, has long been known and thoroughly documented (most recently with his push to use blockchain technology to revolutionize the multi-trillion repo market). But little did we know that Overstock's Chairman Jonathan Johnson is as vocal an opponent of the fiat system, and Wall Street's tendency to create bubble after bubble, if not more than Byrne himself. That, and that his company actually puts its money where its gold-backed money is and in preparation for the next upcoming crash, has taken unprecedented steps to prepare for what comes next. ...
Death to Capitalism? Visitors to Marx’s Grave Balk at Fee
Post Date: 2015-10-26 05:44:34 by Hondo68
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Karl Marx's grave is a popular feature at London's Highgate Cemetery. Photo: Jean Marc CHARLES/Gamma-Rapho/Getty Images HIGHGATE CEMETERY, LONDON—On a summer visit to the grave of Karl Marx, Ben Gliniecki found that he would have to pay £4, or about $6, to pay respects to the man who sounded the death knell for private property. Mr. Gliniecki, a Marxist, said no. “Personally, I think it is disgusting,” the 24-year-old political activist said. “There are no depths of irony, or bad taste, to which capitalists won’t sink if they think they can make money out of it.” The charity that looks after this cemetery has long taken swipe at a different ...
Sanders calls for federal probe of Exxon
Post Date: 2015-10-20 17:11:10 by Willie Green
4 Comments
Sen. Bernie Sanders (I-Vt.) is asking the Justice Department to investigate whether ExxonMobil Corp.’s climate change research strategy broke federal law.The Democratic presidential candidate cited a recent investigation by InsideClimate News that found that Exxon, prior to its merger with Mobil, concluded from its research in the 1970s that climate change is a real threat but later spent millions of dollars sowing doubt about global warming.Sanders asked Attorney General Loretta Lynch to determine whether the oil giant’s actions were illegal.“These reports, if true, raise serious allegations of a misinformation campaign that may have caused public harm similar to the tobacco ...
Small-dollar donors flock to Trump, help power his campaign
Post Date: 2015-10-18 18:07:15 by Justified
1 Comments
WASHINGTON (AP) — Donald Trump likes to boast about his enormous wealth and how he doesn't need anyone else's money to pay for his presidential campaign. That hasn't stopped tens of thousands of people from chipping in with checks as small as $10 to let the Republican candidate know they're behind him. Trump has taken in 73,942 contributions, a total that surpasses several of GOP rivals, despite the billionaire businessman's early pledge to finance his own campaign. Financial reports filed last week also show that more than 70 percent of the $3.9 million he raised from July through September came from people giving $200 or less. That rate of small-donor ...
Woman Arrested In Walmart For Trying On Tampons In the Feminine Care Aisle
Post Date: 2015-10-16 14:41:01 by Willie Green
10 Comments
News 8 – A 44-year-old Arkansas woman is now behind bars after Walmart employees found her trying on tampons and sanitary pads in the feminine care aisle. Cheryl Woolery, a Springdale, Arkansas resident, was led out of the store in handcuffs after her resisting arrest turned into a bloody mess. Eyewitnesses say Woolery entered the Walmart store on Monday and approached the customer service desk for a return. Woolery complained that the Tampax ‘Lites’ were causing her to “leak” and the cardboard applicator was just too “rough” for her “woowoo” and she wanted to exchange them for something else. “I was stocking the deodorants ...
The Creative Destruction of Nudity in Playboy Magazine
Post Date: 2015-10-16 10:33:00 by Deckard
8 Comments
Playboy has finally found a new way to shock and titillate America. The magazine has announced that it will no longer feature full nudity. Instead, it will be moving toward a partially clad, cheesecake pin-up style. The desire for pictures of fresh-faced girls next door — filled by Playboy in ersatz and airbrushed fashion — is, presumably, easily filled by the actual girls next door on Snapchat and Tinder. When I heard the news, I immediately wondered what the great economist Joseph Schumpeter would have made of it. Schumpeter, who famously sought to become the world’s greatest economist, lover, and horseman — and admitted to failure only when it came to horses — ...
Beer giants agree to merge, create world's biggest brewer
Post Date: 2015-10-13 10:46:18 by Willie Green
4 Comments
BRUSSELS -- Anheuser-Busch InBev (BUD) has announced an agreement in principle with SABMiller to take over the brewer at 44 pounds ($67.63) a share. That would result in a company that is the world's biggest beer giant.The brewer of Budweiser and Stella Artois said Tuesday it had increased its offer overnight for the world's second-largest brewer and that both boards "reached agreement in principle on the key terms of a possible recommended offer."AB InBev has been trying for nearly a month to get its hands on SABMiller but its previous offers have met with resistance. On Monday, it was hoping that its latest offer, which valued SABMiller at 43.50 pounds a share - 14 ...
Dell to buy EMC in deal worth about $67 billion
Post Date: 2015-10-12 10:10:04 by cranky
3 Comments
Dell announced a deal Monday with MSD Partners and Silver Lake to buy cloud computing company EMC for roughly $67 billion in cash and stock. "We're creating an unbelievable powerhouse of an enterprise company," Dell Chairman and CEO Michael Dell told CNBC's "Squawk Box." "This is really all about bringing together complementary technologies and helping our customers address the challenges and opportunities that this digital future is creating." EMC stockholders will receive about $33.15 per share in cash and a type of stock that is linked to "a portion of EMC's economic interest" in its VMware business, which will remain an ...
Donald Trump and Eminent Domain
Post Date: 2015-10-07 09:21:48 by cranky
9 Comments
A brief history In a free market, there’s a pretty simple process for dealing with the situation that arises when one person covets another’s belongings: The coveter makes an offer to purchase them. If the offer is rebuffed, the coveter can make a new proposal, but he cannot simply take what he wants. It’s an effective way of recognizing the impracticality of the Tenth Commandment while enforcing the Eighth. Donald Trump’s covetous nature is not in dispute, but what many may forget is that he’s no great respecter of the admonition not to steal, either: The man has a track record of using the government as a hired thug to take other people’s property. This is ...
Fossil fuel investors will lose money and wreck the market, Bank of England warn
Post Date: 2015-09-30 11:26:46 by Willie Green
4 Comments
Carbon emitting companies need to make some big changes now to avoid destabilising the market, he saidInvestors’ money could be at risk due to climate change, the governor of the Bank of England has warned.In a speech at the Lloyd’s of London dinner, Mark Carney said those who invest in fossil fuels could lose out because of action taken to prevent climate change in the future.In the blunt warning, he said oil, coal and gas would be “literally unburnable” and the assets of fossil fuel companies left “stranded” by strict rules brought in by governments to halt climate change.“The exposure of UK investors, including insurance companies, to these shifts is ...
This is what a $350,000 house in San Francisco looks like
Post Date: 2015-09-26 09:29:06 by no gnu taxes
2 Comments
According to the broker, it’s the cheapest home on the market in San Francisco, and it’s an unlivable shack. It is a worn-down, decomposing wooden shack that was built in 1906, and the interior is unlivable in its current condition. The San Francisco house is also selling for $350,000. Located at 16 De Long Street in the (slightly) more affordable Outer Mission district, the house’s price is a reflection of the skyrocketing real estate market in San Francisco. Since 2012, the city has seen a 103% increase in median housing prices; this month, that figure stands at $1.35 million. According to realtors Brian Tran and Alexander Han, the shack is “the cheapest home ...
Fiorina’s Politically Poisonous HP Stint ALSO Showed Business Ineptitude
Post Date: 2015-09-21 14:18:19 by nativist nationalist
3 Comments
As I noted in Fiorina’s HP Outsourcing Record Cost GOP CA Senate Race In 2010.Why Do This Again? Carly Fiorina’s behavior as CEO of Hewlett Packard enabled the Democrats to fashion a series of devastating TV spots. These asserted (accurately) that she laid off 30,000 workers while engaging in unseemly personal enrichment. In short, her Hewlett Packard record is 100 Proof political poison. Comparatively, Mitt Romney’s business record political liabilities of which the Democrats made so much is like a sip of beer. But a CEO could theoretically make himself politically lethal while doing a good job for his shareholders. Did Fiorina? NO! , according to Yale professor on ...
Efficiency up, turnover down: Sweden experiments with six-hour working day
Post Date: 2015-09-17 16:14:06 by A Pole
18 Comments
A Swedish retirement home may seem an unlikely setting for an experiment about the future of work, but a small group of elderly-care nurses in Sweden have made radical changes to their daily lives in an effort to improve quality and efficiency. In February the nurses switched from an eight-hour to a six-hour working day for the same wage – the first controlled trial of shorter hours since a rightward political shift in Sweden a decade ago snuffed out earlier efforts to explore alternatives to the traditional working week. “I used to be exhausted all the time, I would come home from work and pass out on the sofa,” says Lise-Lotte Pettersson, 41, an assistant nurse at ...
Appeals court strikes a blow for fair use in long-awaited copyright ruling
Post Date: 2015-09-15 08:58:07 by cranky
1 Comments
Copyright owners must consider fair use, and Universal now faces a trial over it. The US Court of Appeals for the 9th Circuit today issued a ruling that could change the contours of fair use and copyright takedown notices. In an opinion (PDF) published this morning, the three-judge panel found that Universal Music Group's view of fair use is flawed. The record label must face a trial over whether it wrongfully sent a copyright takedown notice over a 2007 YouTube video of a toddler dancing to a Prince song. That toddler's mother, Stephanie Lenz, acquired pro bono counsel from the Electronic Frontier Foundation. The EFF in turn sued Universal in 2007, saying that its takedown ...
Shaq's Starbucks misstep: ‘Black people don’t drink coffee'
Post Date: 2015-09-14 20:13:01 by cranky
4 Comments
Shaquille O'Neal continues to make millions off the court.Basketball great Shaquille O’Neal made millions on the court, and he continues to make millions off the court in endorsement deals for fast food, clothing, nightclubs and more. But there was one deal that he passed on which he now considers to be one of the biggest financial mistakes of his life. Sports reporter Graham Bensinger sat down with O’Neal in a recent interview to discuss his various businesses ventures. During the segment for “In Depth with Graham Bensinger," he asks the retired NBA All-Star one of his biggest business regrets and without hesitation, O’Neal talked about why he declined to work ...
Black Employee Wins $1.6 Million in Racial Discrimination Suit From Black-Owned Restaurant
Post Date: 2015-09-13 08:40:11 by cranky
14 Comments
Legendary restaurant Roscoe’s House of Chicken ‘n Waffles has to cough up $1.6 million in an unlawful termination suit to an African American man who claimed he was discriminated against because he was black.The claim proves to be somewhat ironic given that the owner of the eatery, where President Barack Obama once dined when visiting Compton, is African American.CBS Los Angeles reported that Daniel Beasley sued Roscoe’s for firing him after he complained to human resources that the managers harassed him for being black and gave preferential treatment, such as better work hours, to the Hispanic employees. “It’s owned by an African American owner, but he gives full ...
The Fed’s Policy Mechanics Retool for a Rise in Interest Rates
Post Date: 2015-09-12 14:10:01 by buckeroo
3 Comments
It’s easy to take for granted the Federal Reserve’s ability to raise interest rates. Even among the legions who doubt that Fed officials will pick the ideal moment to start increasing rates for the first time since 2008, few question the Fed’s technical competence. The central bank has a long history. The engine is known to work. So it may come as a surprise to learn that the old engine is broken. When the Fed decides that it’s time to “lift off” — perhaps this week, but more likely later this year — it will be relying on a new system, assembled from spare parts, to make interest rates rise. There is a general agreement among economists and market ...
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