The US’s biggest meat processor by revenues reveals lacklustre third quarter and blames corn prices, a weak economy and high unemployment
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Rising grain costs restrict Tyson’s growth
msnbc.com AIG to sue BofA for $10.5bn Financial Times … as 17.8 per cent in early Wall Street trading on Monday, making it the worst performer in the Standard & Poor's 500, as the bank faced a $10.5bn lawsuit from AIG over the sale of residential mortgage-backed securities allegedly “marred by fraud , … Banks Pounded After Lawsuit, Economy Further Imperiled CNBC.com all 477 news articles
Hindu Business Line Opp reworks knockout blow Daily Pioneer In a severe indictment of Dikshit for CWG scam , the CAG cited her “active involvement” in the grant of a work incurring a loss of Rs 30 crore while slamming her Government on some projects that led to a loss and escalation of costs of nearly Rs 500 … BJP works on House Games strategy Calcutta Telegraph CWG scam : Be prepared to field CAG charges, Delhi government tells departments Daily News & Analysis all 716 news articles
International Forecaster August 2011 (#2) – Gold, Silver, Economy + More Gold Seek The entire concept of keeping the economy functioning is based upon US dollar debasement via the creation of excess money and credit, which is accompanied by departments of government and Wall Street . Once in the past 11 years in particular we have … and more
'Straw Buyer' Mortgage Scam Knocked Flat Portfolio.com (blog) Of the five lawyers accused in the scam , one had already been disbarred, the Wall Street Journal reports. Gold Party Rages On: When gold prices shoot up, it usually signifies that Wall Street types are nervous, and they're fleeing to gold as a safe … The Economy, Monkey See, Monkey Do, and You RealtyBizNews: Real Estate News & More all 32 news articles
Mobile network operator that offers flat-rate pre-paid mobile phone services blames sluggish US economy and its impact on low-income families for the fall
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Subscriber growth slows at MetroPCS
Automakers said consumers’ confidence was rattled by the sluggish economy and the brinksmanship in Congress over raising the debt ceiling
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US car sales rise in July despite uncertainty
The weak US economy is boosting health insurers’ profits, allaying concerns that last year’s sweeping heathcare legislation would stifle business
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US health insurers boosted by weak economy
Bad cops in a bad economy MarketWatch NEW YORK (MarketWatch) — If high-flying CEOs, Wall Street bankers and wealthy investors can do it, the Los Angeles police can do it, too. Call it the trickle-down theory of financial fraud . Or more proof of the gritty old saw that the fish … and more
Conway police help small business owner recover after international scam Log Cabin Democrat All of the hard work and effort that goes into staying afloat in a struggling economy can be in vain if thieves target the business. The reality of being targeted hit close to home for Puget Sound Data Systems owner, Len Whitwer, of Seattle, Wash. …
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Conway police help small business owner recover after international scam – Log Cabin Democrat
Amidst all the euphoria over saving Greece for the nth time, the global economy continues to slow. Please consider Euro-Region Manufacturing Growth WeakensEuropean services and manufacturing growth weakened more than economists forecast to the slowest pace in almost two years, adding to signs the euro-region recovery is losing momentum as the debt crisis persists. A composite index based on a survey of euro-area purchasing managers in both industries fell to 50.8 in July from 53.3 in June, …
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EuroZone Manufacturing Barely Above Contraction
Mogulite Could Some Of Wall Street's Wealthiest Be Arrested In High-End Prostitution Ring? Mogulite What's a little Human Trafficking and, possibly, underage prostitution, tax fraud and money laundering when you're a certificable Wall Street Master of the Universe? If they're able to screw most of the United States economy, you don't think they … and more
AdvisorOne Gensler updates Senate on Dodd-Frank Futures Magazine I thank you for inviting me to today's hearing on the one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. [I am pleased to testify on behalf of the Commodity Futures Trading Commission (CFTC). … Is the SEC's Recent Run of High-Profile Prosecutions a Flash in the Pan? Corporate Counsel Ideological myths are no substitute for facts Baltimore Sun (blog) Atlas Shrugged. Will Regulators? Wall Street Journal Bloomberg
Work-from-home business accused of stealing credit card number Kansas City Star ” Work -at- home scams are the scam of the year for 2011 as we see it,” said Rafey Balabanian, the Chicago attorney representing Booth. “In the face of this egregious economy where people are just struggling to make ends meet, all they do is take these … and more
Friend-on-friend swindles increase as economy flounders: Prosecutors New York Post Maybe it's people's desire to look past Wall Street and invest with someone they believe they can trust. But whatever the reason, swindles of friends by friends are on the rise — so much so, that prosecutors have coined a separate name for it. … and more
Illinois resident sues online company for work -at- home scam Chicago Tribune ” Work -at- home scams are the scam of the year for 2011 as we see it,” said Rafey Balabanian, the Chicago attorney representing Booth. “In the face of this egregious economy where people are just struggling to make ends meet, all they do is take these …
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Illinois resident sues online company for work-at-home scam – Chicago Tribune
Ideological myths are no substitute for facts Baltimore Sun (blog) Politicians who receive money from Wall Street , the oil and gas industry and others justify the protective corporate welfare given their benefactors by invoking ideological doctrines such as those that insists that all government regulation and … and more
Boston Globe AP Exclusive: Mortgage 'robo-signing' goes on Atlanta Journal Constitution The robo-signer revelations opened the door to a Wall Street netherworld in which the banks built a quick-and-dirty foreclosure machine designed to take as many homes as quickly and cheaply as possible. The new revelation: robos-signers also signed … The Banks Promised to Clean Up Their Act — So Why Are They Still Using Robo … AlterNet all 537 news articles
International Forecaster July 2011 (#5) – Gold, Silver, Economy + More Gold Seek As we have said for many years crime on Wall Street , in banking and in corporate America pays. One just neither admits or denies and lets the corporate shareholders pay the fines. These are today's untouchable, who steal billions and get away with it. … and more
Indicators that may reflect the effect of the eurozone sovereign debt crisis on sentiment in the bloc’s biggest economy will grab attention
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Economic Outlook: Insight on Germany awaited
Bloomberg reports Federal Reserve Needs QE3 to Boost Economic Growth, Berkeley’s DeLong SaysThe Federal Reserve should engage in another round of quantitative easing as growth in the U.S. economy remains slow and inflation concern remains low, according to Bradford DeLong of the University of California at Berkeley. “I don’t see any argument against QE3,” Delong said during an interview on Bloomberg Television’s “Surveillance Midday” with Tom Keene. “The worry is always that it will …
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University of California Economist Bradford DeLong is Blind: "I Don’t See Any Argument Against QE3"
(From Chief Learning Officer) — “We’ve become much more of a thought-based economy than a widget-based one, and such an economy has a voracious appetite for ideas and innovation,” states Psychology Today . The workplace has not traditionally been known as the primary place to spark creative and innovate ideas. Often, the focus is on the immediacy of completing the task at hand rather than taking the time to discover more than just the obvious path to completion. However, with the world changing around us, business leaders need to allow for and promote time to innovate; to brainstorm, be creative and derive innovative products. The learning function, in particular, has always benefited from staying at the forefront of trends in technology and innovation. Creativity and innovation are not dependent on experience, expertise or mastery. Psychology Today explains: “It used to be people apprenticed their way up the ladder, eventually becoming the wise elder of their trade. Now we all have to scramble just to stay relevant. Those who actually want to be ahead of the curve are going to have to be visionary.” Read more .
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Blogs: Promoting Innovation in the Workplace
Thoughts on the Jobs Report Thoughts on the Jobs Report Last month I commented things are awful at first glance and simply bad beneath the surface. This month things took a huge turn for the worse. Three months ago I commented “It is very questionable if this pace of jobs keeps up.” Clearly it didn’t, for the second straight disastrous month. Certainly this cannot all be blamed on the Tsunami in Japan. The entire global economy is slowing rapidly as I have commented numerous …
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Payroll Stunner Full "Pathetic" Jobs Report – Many Charts
USA Today Mortgage Executive Receives 30-Year Sentence New York Times Other than Mr. Farkas and a string of small fry mortgage fraud prosecutions, no senior financial executives have been imprisoned. Even now, federal prosecutors have yet to bring charges against an executive who ran a large Wall Street institution … Ex-Taylor Bean chair gets 30-year prison term: WSJ MarketWatch Where does Farkas rank on scofflaw list? Ocala all 390 news articles
Lost in the worry over Greek debt defaults, China Daily reports on a default story of more significance. Please consider Local governments run up huge debts, risk defaultingLocal governments had an overall debt of 10.7 trillion yuan ($1.65 trillion) by the end of 2010, said China’s top auditor on Monday in a report to the National People’s Congress. He warned that some were at risk of defaulting on payments. It was the first time the world’s second-largest economy publicly announced the …
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China’s Top Auditor Warns of Chinese Local Government Defaults
Moneycontrol.com Expediency, image makeover on cards Daily Pioneer However, there is a buzz in Congress circles that Home Minister P Chidambaram — who had recently been attacked by ADMK leader J Jayalalithaa for electoral malpractice and whose ouster the BJP has demanded over his involvement in the 2G spectrum scam … PM to meet editors today ahead of cabinet reshuffle Moneycontrol.com Image makeover: big Cabinet reshuffle likely IBNLive.com Cabinet reshuffle likely this week Hindu Business Line all 229 news articles
Houston Chronicle (blog) Who To Blame For the Economic Meltdown of 2008? Fannie Mae and Wall Street Houston Chronicle (blog) … Ken Starr, and Larry Summers to defend Fannie's scam . In the end it all crashed–bringing big banks, Wall Street , and the entire economy down with it. Yet Johnson and the other power players skated away, blameless. “This is how Washington works. … and more
Consumer spending numbers are out and economists were surprised to learn that Americans spend at weakest pace in 20 months Americans spent at the weakest pace in 20 months, a sign that high gas prices are taking a toll on the economy. Consumer spending was unchanged in May, the Commerce Department said Monday. That was the worst result since September 2009. And when adjusted for inflation, spending actually dropped 0.1 percent. April’s consumer spending figures were revised to show a …
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Consumer Spending, Personal Incomes "Weaker Than Expected", Economists Optimistic for Second Half, I’m Not
Dalje.com Citigroup pegs hacker loss at $2.7 million UPI.com The bank reported the breach on June 9, and said that data required to commit fraud was not stolen, The Wall Street Journal reported Saturday. But the hackers, who stole names, credit card account numbers and e-mail addresses, could have matched the … Citi customers lose $2.7 mln in hack attack-report Reuters Citigroup Says Hackers Caused $2.7 Million of Losses on Customers' Cards Bloomberg all 32 news articles
Moneycontrol.com Regions Restructures Three Units Zacks.com According to The Wall Street Journal, Regions is putting Morgan Keegan on the block to raise capital and repay the federal government. While such charges will dent Regions' reputation and financials, this will be a relief for investors, who have lost … Charges Settled, Icon Put on Sale Wall Street Journal Morgan Keegan paying $200M to settle fraud charges USA Today Wall Street banks settles over mortgage crisis role Legalbrief (subscription) Memphis Daily News
Brett Matheson, 46, pleaded guilty in federal court to conspiracy to commit wire fraud in a $50 million mortgage fraud scheme based in Phoenix, Arizona. Two others have also entered guilty pleas and are awaiting sentencing. … Debt (4), Deepwater Horizon oil spill (1), delinquent mortgage (1), distressed homeowners (2), down payment (1), economic calendar (16), economy (20), employment rates (2), face of foreclosure (1), fair housing (1), Fannie Mae (4) …
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Real Estate Investor Admits $50M Mortgage Fraud Scheme
Hannah Noel Perlich, 29, Minneapolis, Minnesota, a former loan officer was indicted in connection with a $3 million mortgage fraud scheme that involved six properties. … credit score (2), credit worthiness (1), CSBS (1), Debt (4), Deepwater Horizon oil spill (1), delinquent mortgage (1), distressed homeowners (2), down payment (1), economic calendar (16), economy (20), employment rates (2), face of foreclosure (1), fair housing (1), Fannie Mae (4) …
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Former Loan Officer Indicted in $3M Mortgage Fraud Scam
USA Today JPMorgan Chase Agrees to Pay $154 Million to Settle Fraud Charges AllGov JPMorgan Chase has become the second major Wall Street bank to settle with the Securities and Exchange Commission (SEC) over claims that it defrauded investors by selling mortgage-based securities designed to fail. The bank will pay $153.6 million, … JPMorgan Gets a Break Where Goldman Got Nailed: Jonathan Weil Bloomberg JPMorgan to Pay $153 Million to Settle SEC Fraud Charges PBS NewsHour Challenges in Chasing Fraud Wall Street Journal The Progress Report
CNBC is conducting a poll: Are You Confident in Ben Bernanke?The Fed makes its announcement on the state of the economy Wednesday at 12:30 p.m. Then at 2:15 p.m. Fed Chief Ben Bernanke will address the media in the form of a news conference. With that in mind, we want to know if you have confidence in the way Mr. Bernanke is handling the economy?Here are the humorous results of the CNBC poll as of 3:06 PM Central 2011-06-22. Of course this prompts me to ask the same question. Online …
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Poll: Are You Confident in Ben Bernanke?
The Fed has lowered (yet again) it’s economic forecast. It also lowered its inflation expectations, primarily because of falling gasoline prices. Please consider Fed dims outlook for jobs and growth for 2011Federal Reserve officials are more pessimistic about prospects for economic growth and employment than they were two months ago. In an updated forecast, the Fed estimated Wednesday that the economy will grow between 2.7 percent and 2.9 percent this year. That’s down from its April …
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Fed Lowers GDP and Inflation Forecast, Disingenuously Frets Over Fiscal Recklessness; Over and Under Bets
USA Today Morgan Keegan paying $200M to settle fraud charges USA Today On Tuesday, Wall Street bank JPMorgan Chase agreed to pay $153.6 million to settle the SEC's civil fraud charges that it misled buyers of complex mortgage investments just as the housing market was collapsing. Regulators have been investigating a … Regions hit on mortgage-securities fraud charges MarketWatch The US gets semi-tough with some mortgage dealers The Progress Report Charges Settled, Icon Put on Sale Wall Street Journal all 327 news articles
(From Business Wire) — In the first day of the second annual New York Forum, leading experts offered insights on creating jobs in the U.S., China’s future and the importance of empowering women as a tool for economic development. “For a second consecutive year, the New York Forum brought together a fully committed group of top business leaders who shared more optimism and who are very focused on bringing solutions to the major issues that the economy is facing,” said Richard Attias, founder of The New York Forum and Chairman of Richard Attias & Associates. A high-level panel of members of President Barack Obama’s Council on Jobs and Competitiveness called for a focus on entrepreneurship, reforming immigration, investing in public-private partnerships and a renewed spirit of optimism to spur job creation. Valerie Jarrett, senior advisor to President Obama, said creating jobs is challenging but attainable and “There is reason to be optimistic.” While the President believes long-term, sustainable job growth rests with the private sector, she said, investing in big infrastructure projects will help jump-start the economy. Fast-tracking those projects is an immediate priority. Read more .
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New York Forum Day One Tackles Key Issues: Creating Jobs, China’s Future and Empowering Women
Fannie Mae, it turns out, is a bigger scam than Bernie Madoff could ever have dreamed of; a sad, expensive and disgusting example of corruption and cronyism that derailed the economy of our country. …
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Fannie Mae; Scandal on a Monumental Scale – NY Times Op Ed and New …
China and the US both desperately want consumer spending to grow. Instead, the Chinese economy has grown even more unbalanced. China is increasingly reliant on fixed investment, yet there are few economically viable projects. Worse yet, China is in the midst of gigantic property bubbles that will soon pop. Please consider Consumer Spending Fades in China EconomyAt the Haiyang Zhuangshi Co. hardware store in Beijing, sales of paint and aluminum window frames are slowing, one sign of a …
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Consumer Spending Growth In China Fades; Spending a Mere 34% of GDP; Can China Fail Like Japan?
(From Best Colleges Online.com) — The job outlook for university professors is a bundle of contradictions, confusing — and threatening — even the most prestigious of teachers. While a generation of professors is retiring and leaving new job openings, the economy is still crumbling, and slashed state budgets and diminished endowments make it difficult for schools to pay competitive salaries, or keep full-time professors on staff. Part-time and online positions are increasing, however, and professors now need to be even savvier about how they track their careers, just like professionals in other fields. Here are 10 telling employment trends for academics. Read more .
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Blog: 10 Telling Employment Trends in Academia
(From NYDailyNews.com) — Let’s pause for a moment in praise of …
Senator blocks SEC nominees in dispute over relief for alleged Ponzi scheme … Washington Post The nominations come at a time when the SEC is struggling to implement the sweeping Wall Street overhaul that Congress enacted last year in response to the financial crisis. The SEC said last week that it would miss a July target date to write key … Senator Vitter to block SEC nominees Reuters all 33 news articles
(From Business Wire) — With expectations that hiring activity will increase this year and next, HR departments at a large number of U.S. employers say that talent and performance management technology systems will be one of the most critical HR service delivery issues they will face in 2011, according to an annual survey conducted by Towers Watson, a global professional services company. The 14th annual survey on HR service delivery trends and practices also found that companies are planning to increase their spending on HR technology this year as they look for new ways to improve their efficiency and effectiveness. According to the Towers Watson survey, 41% of the 444 companies surveyed indicated talent/performance systems as one of their top three HR service delivery issues for 2011. Streamlining HR processes and systems was listed by 27% of the respondents, while 25% cited greater involvement in strategic business-driven issues as the other top three HR service delivery issues for this year. “As the economy continues to improve, the need for robust talent and performance management programs and enabling technologies has never been greater,” said Tom Keebler, global leader of Towers Watson’s HR Service Delivery and Technology practices. “Companies view talent and performance management technologies as a critical component of their workforce attraction and retention initiatives, and also as a way to enhance HR’s role in helping the business to meet its strategic goals.” Read more .
In a Bloomberg video David Rosenberg, chief economist at Gluskin Sheff & Associates, says there is a 99% Chance of Another Recession by 2012. Rosenberg also talks about the outlook for the U.S. economy. Selected Quotes Bloomberg: How Certain are you that we may be headed for a recession Rosenberg: I think that by 2012, I would give it a 99% chance. I say that because as an economist, you have to be part historian. When you have a manufacturing inventory cycle recession, they are …
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Rosenberg Says 99% Chance of Another Recession by 2012
Chris Whalen says “No Downside” to Not Raising the Debt CeilingGeithner Cries Wolf The U.S. Congress has a little less than two months to raise the $14.3 trillion debt ceiling or possibly default on its debt. Treasury Secretary Timothy Geithner says not allowing the Treasury to raise the debt limit would be “catastrophic” for the economy. Geithner is crying wolf according to Chris Whalen, a banking industry analyst and co-founder of Institutional Risk Analytics. Whalen argues …
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Chris Whalen: Geithner Cries Wolf, "No Downside" to Not Raising the Debt Ceiling; How You Can Help
The UCLA Anderson School of Management reports the Pulse of Commerce Index Falls 0.9 percent in May.The Ceridian-UCLA Pulse of Commerce Index™ (PCI), issued today by the UCLA Anderson School of Management and Ceridian Corporation fell 0.9 percent on a seasonally and workday adjusted basis in May, after falling 0.5 percent in April. The index has now declined in four of the first five months of 2011, and in eight of the past twelve months. It is clear that the economy is idling, and growth …
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Ceridian-UCLA PCI Fuel Index Shows Recovery Stalled
Los Angeles Times Is the Justice System Finally Closing in on Goldman Sachs over Financial Fraud ? AllGov Wall Street critics have accused Goldman of knowingly selling bundles of bad mortgages to its clients while at the same time betting against the mortgage market before the crisis unfolded in 2008. In April, a bipartisan report from the US Senate … Wall Street Probe Illustrates Clout of Levin's Senate Investigative Panel Bloomberg For 'embattled' Goldman, the fix is already in The Seattle Times all 76 news articles
Weak economic reports in the US, Europe, Australia, and China tell the same story: The global economy continues to cool. MarketWatch reports China manufacturing growth slows furtherThe official China Federation of Logistics & Purchasing Managers’ Index eased to 52.0 from 52.9 in April, marking the slowest pace of growth in nine months. The result was below the median forecast of 52.2 in a Reuters survey of economists. Meanwhile, a separate PMI published by HSBC and compiled by U.K. …
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China’s Manufacturing Slowest in 9 Months, New Orders Suggest Manufacturing May Have Already Peaked; Australia Biggest GDP Drop in 20 Years
Health Care Fraud Investigators Target Men, Not Just Companies Lez Get Real Americans have been thoroughly frustrated by the lack of prosecutions in the banking industry and in Wall Street investment firms over the collapse of America's economy in 2008. While there have been a number of low level prosecutions, they haven't … and more
New York Times SEC Rules Strengthen Whistleblower Protections WebWire (press release) The SEC refused to buckle under tremendous pressure from Wall Street lobbyists (led by the Chamber of Commerce) who worked overtime trying to undermine historic corporate whistleblower protections contained in the Dodd-Frank Act. Central among the … The Government Will Pay You Big Bucks To Find The Next Madoff Forbes (blog) SEC expected to act on whistleblowers Washington Post The SEC adopts new whistleblowing rules for reporting financial wrongdoing Free Speech Radio News Financial News Network Online