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Latest Articles: United States News
84 companies added to ‘leaving California’ list
Post Date: 2010-07-16 13:10:36 by Badeye
13 Comments
84 companies added to ‘leaving California’ list July 16th, 2010, 4:00 am · 55 Comments · posted by Jan Norman, small-business columnist A list of companies moving out of or expanding outside California has grown by 84 since the start of the year, says Joe Vranich, Irvine consultant who specializes in relocating companies. He includes 25 Orange County companies – including Kyjen Company (Huntington Beach to Centennial, Colo.) and MotorVac Technologies (Santa Ana to Ontario, Canada) – that have expanded outside California or moved completely. But he excludes companies like Irvine Scientific of Santa Ana, which is building a production facility in Japan, ...
ECRI Plunges At 9.8% Rate, Double Dip Recession Virtually Assured
Post Date: 2010-07-16 13:03:12 by Nebuchadnezzar
36 Comments
ECRI Plunges At 9.8% Rate, Double Dip Recession Virtually Assured Tyler Durden's picture Submitted by Tyler Durden on 07/16/2010 09:48 -0500 The ECRI Leading Economic Index just dropped to a fresh reading of 120.6 (flat from a previously revised 121.5 as the Columbia profs scramble to create at least a neutral inflection point): this is now a -9.8 drop, and based on empirical evidence presented previously by David Rosenberg, and also confirming all the macro economic data seen in the past two months, virtually assures that the US economy is now fully in a double dip recession scenario. "It is one thing to slip to or fractionally below the zero line, but a -3.5% reading has ...
Banking Reform's first victim: Stock Market Crashing..why?
Post Date: 2010-07-16 12:21:04 by Nebuchadnezzar
40 Comments
SAN FRANCISCO (MarketWatch) -- Bank of America Corp. warned Friday of a multi-billion dollar hit from the latest financial regulation, pressuring shares of the banking giant. Reforms that passed Congress Thursday include potential limits on debit card interchange fees recieved or charged by issuers like Bank of America. The company estimated this could knock as much as $1.8 billion to $2.3 billion off annual revenue generated by its Global Card Services business, starting in the third quarter of 2011. This part of Bank of America's business carries $22 billion of goodwill on its books, partly from the $35 billion acquisition of card giant MBNA in 2005. Based on the estimated revenue hit ...
If God still loved America it would've been 9.9
Post Date: 2010-07-16 12:07:25 by Happy Quanzaa
1 Comments
WASHINGTON - A 3.6 magnitude earthquake woke the Washington metro region Friday, rattling homes and startling people. The U.S. Geological Survey says it happened at exactly 5:04:49 a.m. about 3 miles under the earth's surface. Right after it happened calls from all around Maryland, Northern Virginia and as far away as West Virginia started lighting up the WTOP newsroom phone lines. "It was centered in the Germantown-Gaithersburg area," Randy Baldwin, a physicist with the U.S. Geological Survey's Earthquake Information Center, tells WTOP. The earthquake woke WTOP listener Christy in her four-bedroom home in Bethesda. "I was terrified. Then it was a huge jolt and ...
Sarah Palin in '12? Why She's for Real
Post Date: 2010-07-16 12:06:18 by no gnu taxes
0 Comments
The music swells and then picks up tempo. Sarah Palin is talking about how 2010 will be the year that "commonsense conservative women get things done for our country." She's worried about "these policies coming out of D.C. right now, this fundamental transformation of America," and reports that she is not alone. "Moms kinda just know when something's wrong," she says. "You thought pit bulls were tough? Well, you don't wanna mess with the mama grizzlies!" Can a two-minute Internet video reshuffle a Republican presidential race before it has even started? Palin's glossy yet authentic clip, released without any fanfare July 8, did just ...
Rangel Again Calls For Military Draft
Post Date: 2010-07-16 12:02:25 by Brian S
0 Comments
Rep. Charles Rangel is again calling for a military draft to highlight the fact that relatively few families are bearing a disproportionate burden in fighting the nation's wars. The New York Democrat introduced a bill Thursday to reinstate the draft, a symbolic gesture that has no chance of becoming law. Rangel previously introduced similar legislation in 2003 and 2007. Rangel said lawmakers who support the wars in Iraq and Afghanistan should require "all who enjoy the benefits of our democracy to contribute to the defense of the country." Rangel said he supports President Barack Obama's efforts to eventually bring troops home, but he wants it to happen faster.
Americans Blame Bush, Not Obama, for Deficit, Jobs, Afghan War
Post Date: 2010-07-16 12:00:59 by Brian S
2 Comments
Democrats, facing a U.S. electorate angry about the economy and other issues, still have one political asset: George W. Bush. The former Republican president is blamed more than President Barack Obama for the budget deficit, unemployment and illegal immigration, according to a Bloomberg National Poll conducted July 9-12. Most surprising is that 60 percent say Bush is primarily responsible for the current situation in Afghanistan. Just 10 percent point to Obama, who has ordered 51,000 additional troops to that country since taking office, doubling the number deployed by Bush. When Obama entered office in January 2009, there had been 568 U.S. casualties associated with the Afghanistan ...
BP Says Gulf Well Pressure Rising, No Sign of Leak
Post Date: 2010-07-16 11:58:52 by Brian S
1 Comments
BP Plc is “encouraged” after a pressure test that halted the flow from its Gulf of Mexico well indicated no sign of an oil leak after the first 17 hours. Pressure in the well built steadily to about 6,700 pounds per square inch and is still rising, indicating no leakage from the wellbore, Kent Wells, BP’s senior vice president for exploration and production, said on a conference call with reporters today. Pressure of at least 8,000 pounds per square inch is needed to confirm the integrity of the well, he said. “We’ve had no negative information,” Wells said. While the test hasn’t yet confirmed the well’s integrity, “we’re encouraged by ...
Why is our very successful president doing so badly?
Post Date: 2010-07-16 11:42:05 by no gnu taxes
1 Comments
A fun piece thanks partly to the self-pity evinced by a “top Obama advisor,” partly to the griping about how many arrogant jerks now populate the West Wing, and partly to the hostility exhibited by Politico towards its frequent nutroots antagonists. A quote to whet your appetite: “The liberal blogosphere grew in response to Bush. But it is still a movement marked by immaturity and impetuousness — unaccustomed to its own side holding power and the responsibilities and choices that come with that.” Thank goodness none of our more mature, less impetuous big media outlets take their cues from these not-so-merry lefty pranksters. -- You can argue over whether ...
Financial Reform Bill was a Stunning Success!! (Sarcasm alert!)
Post Date: 2010-07-16 11:40:33 by Nebuchadnezzar
1 Comments
Financial Reform Bill was a Stunning Success Quite a few people sent me eMails asking my opinion on the financial reform legislation just passed by Congress, legislation that will undoubtedly be signed with much fanfare by President Obama. This may surprise some people but I think the bill exceeded the wildest of expectations. Moreover, I can prove it. To fully appreciate how amazingly good this piece of legislation was, we must look at the pluses (what the bill accomplished), the minuses (objectives the bill failed to meet along with any damages done), and the critical issue (reasonable expectations as to what the bill might have accomplished). Let's start with the minuses. ...
Consumer Price Index declines 0.1% in June (Deflation = Depression)
Post Date: 2010-07-16 11:23:37 by Nebuchadnezzar
3 Comments
Consumer Price Index declines 0.1% in June by CalculatedRisk on 7/16/2010 08:30:00 AM From the BLS report on the Consumer Price Index this morning: The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the index increased 1.1 percent before seasonal adjustment. ... The index for all items less food and energy rose 0.2 percent in June after increasing 0.1 percent in May. ... The 12-month change in the index for all items less food and energy remained at 0.9 percent for the third month in a row. ... The index for owners' equivalent rent also rose 0 ...
Will the Obama Depression Last at Least 10 More Years?
Post Date: 2010-07-16 10:54:23 by no gnu taxes
8 Comments
"We don't have too many engines of growth functioning right now -- housing, consumer spending, exports are all sputtering. I have a hard time seeing where we can get 3% economic growth back." _CNN It's becoming obvious that instead of solving the economic problems he inherited, Obama is making everything worse. The risk of a double-dip recession is getting a lot of attention, but even that grim prediction could prove a little too optimistic. Disappointing job reports, weakness in housing and consumer spending and problems in world financial markets have raised concerns about the U.S. economy stalling out later this year. Now some economists are starting to talk about ...
Consumer Sentiment Sinks To Lowest Level in 11 Months (Too bad Obama-bots)
Post Date: 2010-07-16 10:41:37 by Nebuchadnezzar
7 Comments
Consumer Sentiment Sinks To Lowest Level in 11 Months Published: Friday, 16 Jul 2010 | 9:58 AM ET Consumer sentiment weakened in early July to its lowest in 11 months on a resurgence in fears about the economy, a year since the recovery began, a private survey released Friday showed. The reversal in consumer sentiment was dramatic after it reached its strongest level in nearly 2-1/2 years last month on hopes of better job and credit conditions, according to Thomson Reuters/University of Michigan's Surveys of Consumers. The survey's preliminary July reading on the overall index on consumer sentiment plummeted to 66.5 from 76.0 in June. The figure was below the median forecast of ...
Shadow Banking Debt Still Tops Regular Banks [The REAL Sub-Prime Crisis]
Post Date: 2010-07-16 09:35:20 by war
4 Comments
July 16 (Bloomberg) -- Liabilities of shadow banks, or institutions without access to central bank loans or permanent federal guarantees, still exceed the traditional banking system’s three years after the financial crisis began, according to a report from the Federal Reserve Bank of New York. The shadow banking system had about $16 trillion of obligations in the first quarter, compared with $13 trillion for banks, the report said. The gap has narrowed from 2008, when obligations were $20 trillion and $11 trillion, respectively. The U.S. had to lend, spend or guarantee $11.6 trillion to bolster financial markets and fight the longest recession in 70 years, according to data compiled ...
Civil Rights Lawyer Lynne Stewart Receives 10-Year Sentence
Post Date: 2010-07-16 09:03:35 by Badeye
22 Comments
Civil Rights Lawyer Lynne Stewart Receives 10-Year Sentence By: Rebecca Spitz A former civil rights lawyer convicted in a terrorism case in 2005 was resentenced Thursday to 10 years and one month behind bars. Lynne Stewart, 70, was convicted of helping a terrorist communicate with his followers. Her client, Sheik Omar Abdel Rahman -- a blind Egyptian cleric -- plotted to blow up city landmarks. Stewart was originally sentenced to 28 months, but a federal appeals court asked the judge to review the role of terrorism in her case and whether she lied when she testified at her trial. "It was very disappointing, very difficult and very disappointing," said Stewart's ...
Barack Obama’s Mason-Dixon Line.
Post Date: 2010-07-16 05:40:29 by Skip MacLure
0 Comments
The Mason-Dixon Line was the resolution of a border dispute between the then British colonies of Pennsylvania, Delaware, Maryland and West Virginia. It was named after the surveyors who undertook the task between 1763 and 1767, Charles Mason and Jeremiah Dixon. The Mason-Dixon line was some 233 miles in length. It later became the demarcation between the ‘Yankee North’ and the South ‘Dixie’. Later on, it became known as the line between the ‘free’ North and the slave South, in particular between Pennsylvania and Maryland. During the 1800s, and particularly during the Civil War, it became the infamous Mason-Dixon line, marking the separation line between the ...
Greenspan Says Lawmakers Should Let All Bush’s Tax Cuts Lapse
Post Date: 2010-07-15 19:23:33 by go65
3 Comments
July 15 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan, whose endorsement of George W. Bush’s 2001 tax cuts helped persuade Congress to pass them, said lawmakers should allow the cuts to expire at the end of the year. “They should follow the law and let them lapse,” Greenspan said in an interview on Bloomberg Television’s “Conversations with Judy Woodruff,” citing a need for the tax revenue to reduce the federal budget deficit. Greenspan’s comments, to be broadcast tomorrow and over the weekend, place him in the middle of an election-year struggle over extending trillions of dollars of tax cuts enacted under Bush. President Barack Obama ...
Oil leak in Gulf has been capped - flow of oil stops
Post Date: 2010-07-15 16:56:09 by Craig_Portwood
22 Comments
After three months of nearly unimpeded flow of crude oil into the Gulf, BP’s Deepwater Horizon well has at last been capped. This comes as good news to Gulf residents who have suffered the devastation of their beaches and local economy since the offshore drilling rig exploded on April 20. BP PLC vice president Kent Wells, said at a news briefing that the oil stopped flowing into the Gulf at 2:25 p.m. CDT. "I am very pleased that there's no oil going into the Gulf of Mexico. In fact, I'm really excited there's no oil going into the Gulf of Mexico," Wells said. Read more>>
Signs of the Stimulus (one sign cost $10,000)
Post Date: 2010-07-15 16:24:27 by Nebuchadnezzar
2 Comments
Signs of the Stimulus (one sign cost $10,000) ABC ^ | 7-14-10 | JONATHAN KARL and GREGORY SIMMONS Posted on Thursday, July 15, 2010 As the midterm election season approaches, new road signs are popping up everywhere – millions of dollars worth of signs touting "The American Reinvestment and Recovery Act" and reminding passers-by that the program is "Putting America Back to Work." On the road leading to Dulles Airport outside Washington, DC there's a 10' x 11' road sign touting a runway improvement project funded by the federal stimulus. The project cost nearly $15 million and has created 17 jobs, according to recovery.gov. However, there's ...
President Tarball and the Democrats are Driving a Depression-Like Economy
Post Date: 2010-07-15 15:33:35 by no gnu taxes
4 Comments
The incompetence, policies and legislation of the current Democrat administration and Congressional majorities in Washington are both now driving the bad economy. It couldn't be any more simple than that. The private sector isn't lacking in capital, what it isn't doing is flowing, just as it stopped flowing during the Great Depression. Big Business also had big cash on hand back then. Corporate America is hoarding a massive pile of cash. It just doesn't want to spend it hiring anyone. Nonfinancial companies are sitting on $1.8 trillion in cash, roughly one-quarter more than at the beginning of the recession. And as several major firms report impressive earnings this ...
Senate Clears Bank Regulation Bill For Final Passage, Breaking Through Republican Blockade
Post Date: 2010-07-15 15:05:14 by Brian S
5 Comments
WASHINGTON — A sweeping crackdown on banking and high-finance broke through a Senate Republican blockade Thursday, setting the stage for Congress to send the massive regulation overhaul to President Barack Obama. The vote to end debate was 60-38, the minimum needed to overcome a filibuster. But that ensured that the bill has the votes for final passage, which could come later Thursday. At a thud-inducing 2,300 pages, the legislation is designed to rein in big banks and protect consumers, with the aim of averting a repeat of the 2008 financial crisis. Its ultimate impact, however, will depend on the government regulators assigned to implement it. The legislation is the result of a ...
AZ Immigration Law Gets First Major Court Hearing
Post Date: 2010-07-15 14:55:29 by Brian S
2 Comments
(07-15) 11:50 PDT PHOENIX (AP) -- A Phoenix police officer could be fired if he doesn't enforce the state's new immigration law he has sued to block, an attorney told a federal judge Thursday in the first major hearing in one of seven challenges to the strict crackdown. Attorneys for Gov. Jan Brewer told U.S. District Judge Susan Bolton that the lawsuit — filed by Officer David Salgado and the statewide nonprofit group Chicanos Por La Causa — should be dismissed because Salgado and the group lack legal standing to sue and that there's no valid claim of immediate harm. But Salgado's attorney disagreed. "He does have a real threat," attorney Stephen ...
Why Does the NAACP Hate the Tea Party Movement?
Post Date: 2010-07-15 14:40:34 by Badeye
27 Comments
Why Does the NAACP Hate the Tea Party Movement? By Bradley Blakeman Published July 15, 2010 The NAACP has embarked on an orchestrated campaign to discredit the Tea Party movement. On Tuesday the national leadership of the NAACP unanimously adopted the following resolution, according to NAACP President Benjamin Todd Jealous who issued a written statement: "We take no issue with the Tea Party movement. We believe in freedom of assembly and people raising their voices in a democracy. What we take issue with is the Tea Party's continued tolerance for bigotry and bigoted statements. The time has come for them to accept the responsibility that comes with influence and make clear ...
Obama Trainwreck: Racism Reigns Supreme.
Post Date: 2010-07-15 14:38:18 by Skip MacLure
3 Comments
Sooner or later, the wolf in the sheepskin reveals its true character or, in the case of the Obamas, their lack of. Yes, we are speaking plural here… Michelle Obama is, if anything, a more strident racist than Barack Hussein. Meanwhile, out here in the real world… the one whose real unemployment rate is pushing 18%, where four out of five Americans can’t find enough work to feed their families and whose extended unemployment benefits have been curtailed by partisan bickering in the Senate, with DeMarxists insisting that unemployment be paid for as part of additional spending… some twenty billion dollars worth (big surprise). Republicans, for their part, are not ...
President Tarball and Sarah Palin tied 46/46 in 2012 polling
Post Date: 2010-07-15 14:15:19 by no gnu taxes
3 Comments
No, this is not coming from Rasmussen or an internal GOP poll, but from the normally Democrat-sympathetic Public Policy Polling. PPP pitted Barack Obama against five potential Republican challengers for the 2012 presidential campaign, and the only one Obama beat was … Jan Brewer. Even that, PPP admitted, resulted from Brewer’s lack of name recognition. The headline, though, is Sarah Palin’s dead heat with the President: With his approval numbers hitting new lows it’s no surprise that Barack Obama’s numbers in our monthly look ahead to the 2012 Presidential race are their worst ever this month. He trails Mitt Romney 46-43, Mike Huckabee 47-45, Newt Gingrich 46-45, ...
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