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Latest Articles: United States News
All You Need To Know About Bank Balance-Sheet Fraud
Post Date: 2010-03-06 15:00:04 by Nebuchadnezzar
16 Comments
All You Need To Know About Bank Balance-Sheet Fraud I am constantly amused by those people who claim there is some vast "conspiracy" in this country when it comes to banks, balance sheets, and fraudulent lending and accounting. There is no conspiracy. It is, in fact, "in your face" fraud. The FDIC does us the courtesy of explaining it virtually every Friday night, right on their web page. I am simply going to take last night's bank closures, which numbered four. One of them has no "deposit insurance fund" estimated loss available, because they didn't find someone to take the assets - they're just mailing checks. But the other three do. ...
'Peak Oil Demand,' Yes... But Not the Nice Kind
Post Date: 2010-03-06 14:44:45 by Nebuchadnezzar
3 Comments
'Peak Oil Demand,' Yes... But Not the Nice Kind Why There Will Be No Recovery By Chris Nelder Friday, March 5th, 2010 When oil crossed $120 a barrel for the first time in May 2008, oil cornucopians knew they were in trouble... Prices had quadrupled in just five years, yet had failed to bring new production online. Regular crude had flatlined around 74 million barrels per day (mbpd). The case for peak oil was looking stronger with every new uptick in crude futures. The following month, prominent peak oil critic and cornucopian Daniel Yergin of IHS-CERA changed his stance: The peak oil threat would be neutralized by peak demand. Gasoline consumption had peaked in the U.S. and ...
Yeah, This Will Work Out Fine (Budget)
Post Date: 2010-03-06 13:19:04 by Nebuchadnezzar
1 Comments
Yeah, This Will Work Out Fine (Budget) *CBO SAYS DEFICIT THIS YEAR TO AMOUNT TO $1.5 TRILLION *CBO SAYS PUBLICLY HELD DEBT TO GROW TO 90% OF GDP BY 2020 *CBO SAYS OBAMA BUDGET WOULD PRODUCE $9.76 TRILLION IN DEFICITS Not a snowball's chance in hell we get to 2020 doing this. Oh, that's $1.4 trillion more than their last guess, mostly on lower tax collections (no really?) Here's the problem with this new CBO number - it more than doubles the public Treasury debt float over the next nine years. It also "predicts" that China and other investors will increase their holdings of US Government debt from their current $7.5 trillion (the current marketable paper) to $20.3 ...
Missouri Budget Overstates Revenues By Up To $1 billion; Indiana Revenue Falls Short; Budget Battles In Washington; Budget Gaps In Kansas
Post Date: 2010-03-06 13:09:22 by Nebuchadnezzar
0 Comments
Missouri Budget Overstates Revenues By Up To $1 billion; Indiana Revenue Falls Short; Budget Battles In Washington; Budget Gaps In Kansas Budget news from state after state is grim. When will this matter? No one knows but service cutbacks are coming, as are huge layoffs. Missouri Budget Overstates Revenues By Up To $1 billion The Kansas City Star is reporting Nixon's budget may have overestimated Missouri revenues by up to $1 billion The state budget presented six weeks ago by Missouri Gov. Jay Nixon may have overestimated revenues by as much as $1 billion, lawmakers warned Tuesday. The stunning deficit could force lawmakers to go beyond program and service cuts to consider major ...
Poll: Americans Trust Obama More Than Congress On Healthcare Reform Push
Post Date: 2010-03-06 13:03:20 by Brian S
0 Comments
Americans trust President Barack Obama more than either Democrats or Republicans in Congress, a new Gallup poll finds.Just under half of respondents, 49 percent, said they're confident in Obama's healthcare recommendations, compared to 37 percent for Democratic leaders in Congress and 32 percent for Republicans leaders in Congress.The results may suggest it was wise for the president to set forth his own policy fixes in advance of the healthcare summit. Nevertheless, Obama's numbers are down from 58 percent in June.
Shoe retailer plans to close 150 stores (open 40 new ones)
Post Date: 2010-03-06 00:21:13 by Nebuchadnezzar
4 Comments
Shoe retailer plans to close 150 stores March 5th, 2010, 7:59 am · 5 Comments · posted by Hang Nguyen, retail reporter Foot Locker Inc. said Thursday that it plans to open about 40 stores and close about 150 underperforming stores this year. In Orange County, the retailer has Foot Locker stores at Westfield MainPlace in Santa Ana, South Coast Plaza in Costa Mesa, Westminster Mall, The Village at Orange, Buena Park Mall, Brea Mall and Laguna Hills Mall. It also has Lady Foot Locker stores at South Coast Plaza, Brea Mall and The Shops at Mission Viejo. It’s unknown if the closures will affect these local stores or whether the company will open more stores in O.C. Below is ...
Fallon business is closing, dozens will lose their jobs (60)
Post Date: 2010-03-06 00:20:11 by Nebuchadnezzar
2 Comments
Fallon business is closing, dozens will lose their jobs March 5, 2010 Comments(16)Recommend Print this page E-mail this article Share Del.icio.us Facebook Digg Reddit Newsvine Buzz up! Twitter FarkIt Type Size A A A FALLON (AP) — Commercial Metals Co. is closing its Fallon plant, and scores of employees will lose their jobs. Officials for the Irving, Texas-based company are blaming the sluggish economy for the closure set for April 29. But they declined to release the number of affected employees. According to figures compiled last fall by the Nevada Department of Employment, Training and Rehabilitation, the plant was Churchill County’s 15th largest employer with 90 to 99 ...
Dish Network closing Pittsburgh-area call center ( 600 laid off)
Post Date: 2010-03-06 00:17:46 by Nebuchadnezzar
9 Comments
Dish Network closing Pittsburgh-area call center The Associated Press Updated: 03/05/2010 12:07:37 PM EST MCKEESPORT, Pa.—Satellite TV provider Dish Network is closing a customer service call center near Pittsburgh, idling 600 workers. Dish Network says the center in McKeesport will close at the end of business Friday. McKeesport is about 15 miles southeast of Pittsburgh. The company based in Englewood, Colo. has said the McKeesport site doesn't meet the company's "business needs." Dish Network says it isn't closing any other call centers in the country. The call center opened in 1998 and was a major employer in this city of about 20,000 that housed United ...
Illinois: 13,000 teachers and employees to be laid off in the fall
Post Date: 2010-03-06 00:16:19 by Nebuchadnezzar
3 Comments
Schools Could See Thousands of Layoffs Updated: Thursday, 04 Mar 2010, 11:58 PM EST Published : Thursday, 04 Mar 2010, 11:58 PM EST Illinois Statehouse News illinoisstatehousenews.com By Kevin Lee SPRINGFIELD – Illinois students could see a lot fewer teachers, librarians and even janitors when they return to school in the fall. The state’s Board of Education estimated that local school districts would have to lay off more than 13,000 employees in the upcoming budget year. The estimate is contingent upon whether or not the state continues to fund schools at the same level as it did for this budget year – a little more than $7 billion. But this budget year, schools ...
Jackson Health System CEO wants to cut 4,400 jobs, close 2 hospitals
Post Date: 2010-03-06 00:14:41 by Nebuchadnezzar
2 Comments
Jackson Health System CEO wants to cut 4,400 jobs, close 2 hospitals Buy PhotoJackson CEO Eneida Roldan has proposed 4,400 layoffs and the shuttering of Jackson South and Jackson North hospitals. MARICE COHN BAND / MIAMI HERALD STAFF Photo Related Content Jackson Health System's proposed recovery plan University of Miami affected by Jackson Health System woes Jackson Health System faces long odds for government funds BY JOHN DORSCHNER crline jdorschner@MiamiHerald.com Miami Herald Staff Report With cash set to run out in May, Jackson Chief Executive Eneida Roldan announced a recovery plan that would cut costs by $165.4 million by laying off 4,487 workers and closing the system's ...
Nellis put on lockdown, streets closed near base
Post Date: 2010-03-05 22:46:04 by borntoweardiamonds
7 Comments
Nellis Air Force Base was placed on lockdown this afternoon and nearby streets were closed, authorities said. Base spokesman Eugene Hill said the main gate was closed and the base was put on lockdown about 3 p.m. He said Metro Police are assisting, but it is unknown what caused the lockdown. Metro spokesman Bill Cassell said officers are assisting with traffic control in the area. He said North Las Vegas Boulevard near East Craig Road has been shut down. Traffic is being rerouted and drivers are encouraged to avoid the area.
About the Pentagon shooter; Update: Stop playing games, MSM. John Patrick Bedell was a registered Democrat
Post Date: 2010-03-05 16:35:17 by dont eat that
12 Comments
Update: www.Electorates.us has 180 million registered voter records available online (thanks to Anne Horrigan). Thirty-six-year-old John Patrick Bedell’s voter registration records in Hollister, CA are available for any journalist before he/she goes off and labels him a “right-wing extremist.” Guess which party he registered under in 2005 and was actively registered under as of 2008? DEMOCRAT.
U.S. Adding Full-Body Bomb Scanners at 11 Airports
Post Date: 2010-03-05 16:04:17 by war
1 Comments
March 5 (Bloomberg) -- The U.S. is installing full-body scanners that can detect bombs under passengers’ clothing at 11 more airports following an attempted Christmas Day attack, Homeland Security Secretary Janet Napolitano said. Scanners will be added at airports including Chicago’s O’Hare, and in Boston, Los Angeles and Charlotte, North Carolina. The Transportation Security Administration said it plans to install 1,000 machines by the end of next year. “We are enhancing our capability to detect and disrupt threats of terrorism across the nation,” Napolitano said in a statement today. The agency already has 40 machines at 19 airports. The government is ...
Obama Budget Underestimates Deficit Over 10 Years, CBO Says
Post Date: 2010-03-05 15:59:54 by war
3 Comments
March 5 (Bloomberg) -- President Barack Obama’s budget proposal would generate bigger deficits than advertised each year for the next decade, with the 10-year shortfall totaling $1.2 trillion more than the administration estimated, according to the Congressional Budget Office. The nonpartisan CBO, in an annual analysis of the White House budget proposal, said today that under Obama’s plan deficits would never shrink below 4 percent of the economy between now and 2020. The cumulative deficits would total $9.76 trillion, and debt held by the public would amount to 90 percent of the nation’s gross domestic product by 2020, the CBO said. By 2020, the federal debt would grow to ...
U.S. Treasury’s Krueger Says Job Market Still Faces ‘Stresses’
Post Date: 2010-03-05 15:57:48 by war
0 Comments
By Rebecca Christie March 5 (Bloomberg) -- The U.S. economy remains under strain even though the labor market is showing signs of improvement, said Alan Krueger, assistant Treasury secretary for economic policy. The Labor Department report that U.S. employers cut 36,000 jobs last month was “better than expected” given the snowstorms that kept a million workers at home in mid-February, Krueger said today in a briefing with reporters in Washington. “The labor market is still facing stresses, though these stresses are easing,” Krueger said. The unemployment rate held steady at 9.7 percent in February. The drop in payrolls was smaller than the 68,000-job fall expected by ...
Obama Says Jobs Report Shows Economic Steps Working
Post Date: 2010-03-05 15:18:13 by war
1 Comments
March 5 (Bloomberg) -- President Barack Obama said today’s reports on unemployment and payrolls show the measures the government is taking to spur hiring are working, and he called on Congress to extend aid to the unemployed. While job losses were less than expected, they are “more than we should tolerate,” Obama said following a report by the Labor Department that the U.S. unemployment rate held at 9.7 percent in February and payrolls fell less than forecast. Obama spoke at the Arlington, Virginia, headquarters of Opower, a company that develops software for utility companies to cut energy use by helping customers find ways to increase efficiency. Obama has been promoting ...
Consumer Credit in U.S. Increases for First Time in a Year [Revolving Still Down]
Post Date: 2010-03-05 15:03:07 by war
2 Comments
March 5 (Bloomberg) -- Borrowing by U.S. consumers unexpectedly rose in January for the first time in a year, led by auto loans and indicating Americans are gaining confidence in the economy. Consumer credit increased $5 billion, or 2.4 percent at an annual rate, the Federal Reserve said today in Washington. Borrowing dropped $4.6 billion in December, more than first estimated. The figures track credit card debt and non-revolving loans, including those for automobile purchases. The worst recession since World War II probably ended last year as factories boosted production and government spending programs took hold. The recovery may get a bigger lift from consumer purchases that account ...
Anti-Gay Republican, Married Lawmaker At Gay Club Before DUI Arrest
Post Date: 2010-03-05 14:37:13 by Brian S
11 Comments
SACRAMENTO (CBS13) 53; Sources tell CBS13 that a state senator from Southern California was arrested for allegedly driving drunk after leaving Faces, a gay nightclub in midtown Sacramento, early Wednesday morning. The California Highway Patrol pulled over Senator Roy Ashburn at 2:00 a.m. Wednesday after an officer noticed a black Chevy Tahoe swerving at 13th and L Streets. The Sacramento County district attorney says Ashburn's blood-alcohol level was .14 percent when he was arrested on suspicion of drunken driving near the Capitol. Ashburn, a father of four, is a Republican Senator representing parts of Kern, Tulare and San Bernardino Counties, with a history of opposing gay rights ...
Yes, because ‘Pot-growing, Anti-Bush Troofer’ = Right-winger.
Post Date: 2010-03-05 13:56:16 by dont eat that
26 Comments
I wasn’t going to bring up the politics of J. Patrick Bedell - mostly because, like Patterico, I figure that the guy was just nuts from the start, and not made that way by listening to Keith Olbermann* - but since the Christian Science Monitor wants to play ‘Spot the Right-wing Extremist!‘ I guess that we’re just going to have to point out that the following characteristics: * Trooferism * anti-Bush conspiracy theory hysteria * Arrested for growing marijuana …do not precisely fit the narrative. And by ‘do not precisely fit’ I mean ‘contradict.’ That first opinion alone is shared by how much of the Democratic party, again? I swear to God, ...
Shaw's To Lay Off Nearly 1000 (CT for chain)
Post Date: 2010-03-04 23:47:24 by Nebuchadnezzar
1 Comments
Shaw's To Lay Off Nearly 1000 Updated 10:09 PM EST, Thu, Mar 4, 2010 The Shaw's grocery store chain, which is selling all of its Connecticut locations, says it will cut 967 jobs at those stores. Employees affected work at stores in East Hartford, Manchester, Wallingford, New Haven, Clinton, Southbury, Willimantic and Fairfield, according to the State Department of Labor. The stores will close on March 31, but Shaw's says the layoffs won't take affect until April 13. Five of the stores are being sold to Shop Rite, one is becoming a Price Rite, and several will become Stop & Shop stores. The Shaw's in New Haven and Manchester do not have potential buyers. Shop ...
Slim Jim plant's demise to put 450 out of work
Post Date: 2010-03-04 21:13:57 by Nebuchadnezzar
9 Comments
Slim Jim plant's demise to put 450 out of work * Article * Comments (17) Recommend (0) 2009 NEWS & OBSERVER FILE PHOTO - CHRIS SEWARD Shortly after the June 9 explosion, officials from various agencies were swarming the wreckage to help with the rescue, then the recovery, then the investigations, which led to recommendations for new safety laws. Email Print Order Reprint Share: Yahoo! Buzz Text tool name close x tool goes here BY SARAH NAGEM AND ALAN M. WOLF - Staff Writers GARNER -- ConAgra Foods plans to close its Garner Slim Jim factory by next year, laying off hundreds and dealing another blow to the region's economy. The decision announced Wednesday means that the ...
The Very Expensive Home Buyer Tax Credit ($8K Credit cost Taxpayers $100K!)
Post Date: 2010-03-04 21:06:37 by Nebuchadnezzar
8 Comments
The Very Expensive Home Buyer Tax Credit by CalculatedRisk on 3/04/2010 06:58:00 PM First a quote from a Bloomberg story: U.S. Economy: Pending Sales of Existing Homes Decline “When you take away all the support from the housing market, the underlying demand for housing is a lot weaker than we thought,” said Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “We clearly pushed some demand forward, and there wasn’t that much demand to pull forward anyway. The housing recovery is going to be very, very slow.” This is no surprise and suggests that the extension and expansion of the home buyer tax credit will probably cost ...
Foot soldiers for census ease jobless rate (U-3 held lower only due to Govt. make work jobs)
Post Date: 2010-03-04 20:44:01 by Nebuchadnezzar
0 Comments
Foot soldiers for census ease jobless rate By Kevin Sieff in Washington Published: March 4 2010 19:59 | Last updated: March 4 2010 19:59 Mekonnan Simore has been searching for work in Washington since losing his job as a cab driver almost a year ago. In a city with a 12.1 per cent unemployment rate it has been tough going for the 34-year-old, who moved to the US from Ethiopia when he was a child. “I’ve got thousands in debt and I’m looking hard for work,” Mr Simore says. “It’s brutal out here. No one is hiring.” EDITOR’S CHOICE Labour woes restrict US recovery - Mar-04 Short View: Jobs data full of sound and fury - Mar-04 US jobless claims decline ...
Retail Sales Rise: Where? Let's Take a Look; Expect Nothing Less Than Panic
Post Date: 2010-03-04 19:41:54 by Nebuchadnezzar
6 Comments
Retail Sales Rise: Where? Let's Take a Look; Expect Nothing Less Than Panic In response to For 15 Million Unemployed any Job is a Good Job; Questions for Pollyannas; Wishes Aren't Fishes reader "Sunny Jim" asks ... Mish What puzzles me is that with such large numbers of people without jobs or adequate jobs, how can retail sales continue to hold their own? If people still had their house ATM or were increasing their credit card debt, I could see how they could keep spending at pre-recession levels. But people are paying down debt, not increasing it. Something just doesn't jibe IMO. With the current job situation, I would expect to see retail sales at something like ...
Police: Dodge parents trade sex with 14-year-old daughter for car payments
Post Date: 2010-03-04 18:24:08 by Skip Intro
8 Comments
Police: Dodge parents trade sex with 14-year-old daughter for car payments A Dodge County mother and father have been accused of trading sex with their 14-year-old daughter in exchange for monthly payments on their minivan. Dodge sheriff’s investigators say the girl’s parents made her do “sexual favors” for the manager of Shorty’s Used Cars in Eastman so they wouldn’t have to make the $281 payment on the 1998 Dodge Caravan they bought two years ago. The allegations surfaced after a months-long investigation into the girl’s welfare that began last summer. “It makes me personally sick to my stomach,” Dodge sheriff’s Capt. Tony Winborn ...
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