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Latest Articles: United States News
Capital Flight out of Greece; Run on the Banks Underway; Greek Unions Stage Another Strike
Post Date: 2010-02-24 13:24:44 by Nebuchadnezzar
14 Comments
Capital Flight out of Greece; Run on the Banks Underway; Greek Unions Stage Another Strike Seeking to avoid taxes on bank accounts and sheltered income, Wealthy Greeks Send Money Abroad. Wealthy Greeks are pulling their money out of local banks and sending it abroad, fearing increased government scrutiny on assets and a run on the banks if Athens is forced to turn to the International Monetary Fund, according to private bankers and other people with knowledge of the situation. Part of the government's austerity package for this year is a declaration of war on income that hasn't been taxed. Clients of private banks also fear that Greece may be unable able to raise the €54 ...
Freddie Mac: "Potential Large Wave of Foreclosures" [Full Thread]
Post Date: 2010-02-24 13:22:51 by Nebuchadnezzar
61 Comments
Freddie Mac: "Potential Large Wave of Foreclosures" by CalculatedRisk on 2/24/2010 11:55:00 AM "We start 2010 with some early signs of stabilization in the housing market, with house prices and home sales likely nearing the bottom sometime in 2010. We expect that low mortgage rates, relatively high affordability and the homebuyer tax credit will help continue to fuel the recovery. Still, the housing recovery remains fragile, with significant downside risk posed by high unemployment and a potential large wave of foreclosures." Freddie Mac Chief Executive Officer Charles E. Haldeman, Jr. The quote is from the Freddie Mac Q4 earnings release: Freddie Mac Releases Fourth ...
Massive Job Layoffs Announced at Various Fortune 500 Companies (CAT - 20,000 to lose jobs)
Post Date: 2010-02-24 13:13:34 by Nebuchadnezzar
3 Comments
Massive Job Layoffs Announced at Various Fortune 500 Companies 9 comments by: Mark Riddix January 27, 2009 | about: CAT / HD / GMGMQ.PK / S / PFE / WYE / SBUX Mark Riddix Wow. They just kept coming, one after another. A number of Fortune 500 companies announced job layoffs yesterday. Caterpillar (CAT) announced that they will be cutting 20,000 jobs. Caterpillar, the largest manufacturer of construction equipment, has seen global demand for machine equipment fall off the map. Home Depot (HD) is eliminating 8,000 more jobs and closing 125 stores. The housing market has not yet bottomed and sales are not improving at the nation’s largest home retailer. GM (GM) is laying off 2,000 ...
Employers Took 1, 761 Mass Layoffs in January (increasing stat)
Post Date: 2010-02-24 13:11:33 by Nebuchadnezzar
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Employers Took 1, 761 Mass Layoffs in January FOXNews.com January marks the first month-to-month increase in the number of mass layoffs since August 2009, indicating a grim employment forecast for Americans on the job hunt. Employers made 1, 761 mass layoffs in January, according to data released Tuesday by the Bureau of Labor Statistics. January marks the first month-to-month increase in the number of mass layoffs since August 2009, indicating a grim employment forecast for Americans on the job hunt. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance filed against them during a 5-week period.
Looney Ricks Kiss files for Chapter 11
Post Date: 2010-02-24 13:09:34 by Nebuchadnezzar
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Looney Ricks Kiss files for Chapter 11 Memphis Business Journal - by Michael Sheffield * Burt Hill seeks to sublease some of its Downtown Pittsburgh office space * Architects chase $77M Marin project * Northern Group slices the sale price of Lafayette Building * Retro feel, modern outlook * Architect index drops sharply in January Looney Ricks Kiss Architects Inc. has filed for Chapter 11 bankruptcy reorganization. According to a statement released by the Memphis-based firm, the filing “is in direct response to the recession and the prolonged two-year decline in the residential and commercial real estate markets.” Since 2008, Looney Ricks Kiss has laid off nearly 64 ...
Belleayre Ski Center lays off 59
Post Date: 2010-02-24 13:05:05 by Nebuchadnezzar
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Belleayre Ski Center lays off 59 Published: Wednesday, February 24, 2010 6 comment(s) | Email to a friend | Print version | ShareThis | RSS Feeds Doorways Yahoo! Best & Brightest By JAY BRAMAN JR. Correspondent HIGHMOUNT — Fifty-nine employees of the Belleayre Mountain Ski Center were laid off this past weekend, according to the state-owned recreation facility. Belleayre Superintendent Tony Lanza downplayed the layoffs as an annual necessity, but he conceded the action came sooner than in previous years and was more severe. “We might have done it a little earlier and we might have done a few more, but we do this every year,” he said. Lanza said the people who were ...
Disturbing 911 Call of Stuck Accelerator
Post Date: 2010-02-24 12:43:06 by dont eat that
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Family Killed in Santee Car Crash 911 Call http://www.youtube.com/watch?v=KHGSWs4uJzY&feature=related
Lawmakers Sharply Criticize Toyota at Hearing
Post Date: 2010-02-24 12:33:28 by sneakypete
5 Comments
-- The president of Toyota's U.S. operations acknowledged to skeptical lawmakers on Tuesday that the company's recalls of millions of its cars may "not totally" solve the problem of sudden and dangerous acceleration. "We are vigilant and we continue to look for potential causes," Toyota's James Lentz told a congressional panel. However, he repeated his company's position that unexpected acceleration in some of the company's most popular cars and trucks was caused by one of two problems - misplaced floor mats and sticking accelerator pedals. He insisted electronic systems connected to the gas pedal and fuel line did not contribute to the problem, ...
Democommies In Deep Denial On Global Warming
Post Date: 2010-02-24 11:51:07 by dont eat that
1 Comments
On the very same day that the EPW minority released a report [PDF] citing “unethical and potentially illegal behavior by some the world's leading climate scientists,” the ruling majority promised “to make policy based on [the same discredited] science.” It was like watching shopkeepers wading through knee-deep water to tape a handwritten “open for business” sign to their cracked and filthy front windows after days of devastating storms. Only the storms in this story carried unusual names. Like Climategate and Glaciergate and Amazongate. And the shopkeepers were named Boxer and Sanders and Whitehouse and Jackson. And what they were selling was suntan ...
U.S. Stocks Advance as Bernanke Says Fed Rate to Remain Low
Post Date: 2010-02-24 11:02:55 by war
2 Comments
Feb. 24 (Bloomberg) -- U.S. stocks rose, halting a two-day drop in the Standard & Poor’s 500 Index, after Federal Reserve Chairman Ben S. Bernanke said the economy still requires low interest rates to spur demand. JPMorgan Chase & Co. and Bank of America Corp. paced gains in banks after Bernanke told Congress in prepared remarks that the “nascent” recovery will warrant “exceptionally low levels of the federal funds rate for an extended period.” Autodesk Inc., the biggest maker of engineering-design software, jumped 9.4 percent on profit and sales that beat analyst estimates. “The market is breathing a sigh of relief that he didn’t say anything ...
U.S. New-Home Sales Unexpectedly Fell in January to Record Low
Post Date: 2010-02-24 10:02:50 by war
7 Comments
Feb. 24 (Bloomberg) -- Sales of new homes in the U.S. unexpectedly fell in January to the lowest level on record, a sign that an extension of a government tax credit may not be enough to rekindle demand. Purchases declined 11 percent to an annual pace of 309,000, below the lowest forecast in a Bloomberg News survey of economists, from a 348,000 pace, figures from the Commerce Department showed today in Washington. The median sales price dropped 2.4 percent from January 2009 and the supply of unsold homes increased. The government’s first-time buyers tax incentive, extended and expanded to include current homeowners, may provide less of a boost to the market as many purchases were ...
Top Republican Investigator Rep. Issa Indicates Openness To Probing Saudi Ownership Of Fox News [Full Thread]
Post Date: 2010-02-24 08:54:28 by go65
66 Comments
Saudi Prince Alwaleed bin Talal owns the fourth largest stake in News Corp — the parent company of Fox News — making him the largest shareholder outside the family of News Corp CEO Rupert Murdoch. According to the Financial Times, News Corp announced today that it is purchasing a $70 million dollar stake in Prince Alwaleed’s Rotana Media, a Middle Eastern music and news conglomerate. Boasting about the increased cooperation between the Murdoch empire and his own media corporation, Prince Alwaleed said, “This is a qualitative leap not just for Rotana but for the whole Arab world.” Because Prince Alwaleed has publicly acknowledged that he has forced Fox News to edit ...
SHOWDOWN IN SEARCHLIGHT: Tea Party ExpressIII Kickoff -JUST VOTE THEM OUT Rally
Post Date: 2010-02-24 04:49:00 by borntoweardiamonds
2 Comments
Join us for the Mega Rally that kicks off Tea Party Express III: Just Vote Them Out. Our first target: Senate Majority Leader Harry Reid – he’s got to go! And we’re gathering thousands of patriots such as yourself for this giant tea party rally in Reid’s hometown of Searchlight, NV (population: 700). The event is free and will feature Gov. Sarah Palin and a host of other special guests to be announced in the coming days! Date/Time: Saturday, March 27th at 12:30 noon Rally Location: Intersection of Coyote Mine Rd and US-95 N Follow signs to the Tea Party Express Buses & Stage (.3 miles N on US-95) Searchlight, NV 89046 Keynote Speaker: Governor Sarah Palin ...
Pratt & Whitney Announces More Layoffs - 163 laid off
Post Date: 2010-02-24 01:22:38 by Nebuchadnezzar
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Pratt & Whitney Announces More Layoffs Announcement Made Tuesday EAST HARTFORD, Conn. -- Officials at Pratt & Whitney say more employees will be laid off soon. On Tuesday, officials informed employees that 163 people would be laid off at its two plants in Connecticut. The employees were informed of the layoffs on Tuesday and asked for volunteers interested in separation that would be effective sooner. Then, involuntary severance would begin in March. Layoffs would be based on seniority in the company. Pratt & Whitney, a subsidiary of United Technologies Corp
Denman Says It May be Forced to Close (260 facing lay off)
Post Date: 2010-02-24 01:19:33 by Nebuchadnezzar
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Denman Says It May be Forced to Close February 23, 2010 Troubled Denman Tire Corp. announced this afternoon that it may close. The 90-year-old OTR and industrial tiremaker is still seeking a buyer, but has put the wheels in motion to shutter its entire operations, including its plant in Leavittsburg, Ohio, and warehouse in Austintown, Ohio. In a statement released by the company today, Richard Szekelyi, restructuring advisor, said, “Unfortunately Denman was a victim of the downturn of the economy. As a result, the company has reached the difficult decision to begin reducing operations while we continue our efforts to secure financing and/or find a buyer. If these efforts are ...
Ford Motor Credit Job Cuts Coming Mauldin Center To Lose 100 Jobs
Post Date: 2010-02-24 01:18:06 by Nebuchadnezzar
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Ford Motor Credit Job Cuts Coming Mauldin Center To Lose 100 Jobs MAULDIN, S. C. -- The Ford Motor Credit Business Center in Mauldin will lose 100 jobs by the end of March. The company made the announcement today. Ford Motor Credit spokeswoman Margaret Mellott said the Mauldin facility has 425 employees now. The Mauldin location serves as a call center for customers of Ford Motor Credit and also originates loans for Ford dealers. Mellott said the company is getting rid of 1,000 positions across all of its U. S. operations to help meet current and future business conditions.
MIAMI - CEO: Jackson to Cut Nearly 1,000 Jobs
Post Date: 2010-02-24 01:17:13 by Nebuchadnezzar
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Page One Daily News MIAMI - CEO: Jackson to Cut Nearly 1,000 Jobs * MIAMI CEO: Jackson to Cut Nearly 1,000 Jobs Jackson Memorial Hospital President and CEO Eneida Roldan announced Tues. that the hospital is stuck with a $230 million budget shortfall Jackson Memorial Hospital will need to eliminate nearly 1,000 positions, through attrition, cutting vacant jobs, and layoffs, President and CEO Eneida Roldan announced Tues. Sources close to Dr. Roldan also say she is considering shutting down the ER at Jackson South to help cut costs, but she does vow to protect patient care, and says the focus must be on the future. Read more: http://www.poder360.com/dailynews_detail.php?blurbid=5677#ixzz0 ...
Norwood to shutter San Antonio plant, lay off 345 workers
Post Date: 2010-02-24 01:16:23 by Nebuchadnezzar
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Norwood to shutter San Antonio plant, lay off 345 workers San Antonio Business Journal Norwood Promotional Products LLC has initiated a consolidation of the company’s manufacturing operations that will result in hundreds of lost jobs for San Antonio. The consolidation, part of a cost-saving effort, affects 345 employees in San Antonio. Local employees will be given first consideration and relocation assistance if they qualify for open positions outside of San Antonio. Norwood will also provide severance and outplacement assistance to those who are unable to fill an open position in another market. BIC Advertising & Promotional Products is the parent company of Norwood. ...
Scott Brown Under Fire for Going Rogue on Jobs Bill
Post Date: 2010-02-23 18:24:23 by war
9 Comments
(Feb. 23) -- It didn't take long for the newest member of the Senate to anger some of the people who cheered his election victory just last month. Scott Brown's vote Monday afternoon helped kill the GOP filibuster against Majority Leader Harry Reid's $15 billion job creation bill. Brown wasn't the only Republican to break party ranks on the key procedural vote. Maine moderates Susan Collins and Olympia Snowe also voted to advance the bill. So did George Voinovich of Ohio and Kit Bond of Missouri -- both of whom are retiring. Nebraska's Ben Nelson was the only Democrat who voted against Reid's bill. But it was Brown -- whose upset win in the race to fill the late ...
Navy Will Soon Let Women Serve On Subs
Post Date: 2010-02-23 17:14:35 by Brian S
22 Comments
WASHINGTON (AP) -- The Pentagon has moved to lift a decades-old policy that prohibits women from serving aboard Navy submarines, part of a gradual reconsideration of women's roles in a military fighting two wars whose front lines can be anywhere. At issue is the end of a policy that kept women from serving aboard the last type of ship off-limits to them. The thinking was that the close quarters aboard subs would make coed service difficult to manage. Defense Secretary Robert Gates notified Congress in a letter signed Friday that the Navy intends to repeal the ban on women sailors on subs. Congress has 30 days to weigh in. "He supports the Navy's efforts to change their ...
Miami's City Manager Resigns; New manager Promises to Tackle Budget Woes (20% of budget to Pensions!)
Post Date: 2010-02-23 13:56:58 by Nebuchadnezzar
5 Comments
Miami's City Manager Resigns; New manager Promises to Tackle Budget Woes; How Unions, Politicians Bankrupted Miami Amidst a widening federal probe into Miami city finances, and a budget deficit born of corruption and union promises, Miami's City Manager Resigned last Friday. On Monday, Mayor Tomás Regalado appointed Carlos Migoya to fill the city manager vacancy. The new city manager quickly stated I'll tackle budget woes. Carlos Migoya, a career banker who worked up and down the eastern seaboard, was introduced Monday as the man to take on Miami's widening financial woes. His priority as city manager: Helping Miami avert disaster. Migoya, 59 and bearing a ...
NYT Blog Tries to Pre-Spin Horrid Job Number Coming
Post Date: 2010-02-23 12:47:25 by dont eat that
2 Comments
It snowed this month in much of the United States. And that may create unnecessary fears that a double-dip recession is upon us. Why? The Labor Department employment report to be released on March 5 will say that it is for February, but the fine print will say it is for a particular week. Both the household survey (which produces the unemployment rate) and the employer survey (which produces the job count) ask about workers in the week during which the 12th of the month fell. For February, that was the week of the 7th to the 13th. There were blizzards on the East Coast the previous weekend, and again during the week. That means that a lot of people who had jobs may report they did not ...
Case-Shiller December: Home Prices Fall -3.1%
Post Date: 2010-02-23 12:45:28 by Nebuchadnezzar
1 Comments
Case-Shiller December: Home Prices Fall -3.1% Case-Shiller December: Home Prices Fall -3.1% | Feb. 23, 2010, 9:03 AM | 1,764 The headline 20-city housing decline of 3.1% in the Case-Shiller index appears to be right in line with what analysts were expecting. On a sequential basis, home prices fell 0.2%, which Robert Shiller attributes entirely to seasonal behavior (via CNBC) Once again, we get evidence that there's no national housing market, as some cities like New York continue to fall sequentially, while Las Vegas is bouncing back a little. The other big theme: If you're waiting for the market to come "back," then you're going to have to wait for years. ...
Obama's Step And Fetch Senior Advisor Valerie Jarrett: Americans are Idiots, Obama Too Intelligent For Words
Post Date: 2010-02-23 12:43:31 by dont eat that
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Valerie Jarrett is senior adviser and assistant to the President for Public Engagement and Intergovernmental Affairs. Ms. Jarrett, is one of the President and First Lady's closest and longest held friends. President Obama has said “Well, Valerie is one of my oldest friends,” Obama is quoted as saying. “Over time I think our relationship evolved to the point where she’s like a sibling to me… I trust her completely.She’s family,” he has said, “she combines the closeness of a family member with the savvy and objectivity of a professional businesswoman and public policy expert” and he “absolutely” runs every decision by her." ...
Ron Paul 'Undecided' On 2012 Run After CPAC Victory
Post Date: 2010-02-23 12:33:09 by Brian S
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Rep. Ron Paul (R-Texas) said Monday he's undecided on whether to run for president in 2012. Paul said that while he's unsure whether or not he'll try to reprise his upstart, libertarian presidential campaign, he was surprised and encouraged by his win in a straw poll of conservative activists at the Conservative Political Action Conference (CPAC) this past weekend. "I'm leaning to being undecided," Paul said during an interview on CNBC. "But I think it is significant and it does get me excited. And I was surprised about it, because it was mostly the young people." Paul won the straw poll, considered a preliminary indicator of Republican Party ...
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