Lionheart Group Scam Prevention Steps

Amazon is aiming to take digital reading into the mainstream as it rolls out a new generation of its Kindle e-reader ahead of the crucial holiday shopping season

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Amazon rolls out new e-reader

Chris Viehbacher, the chief executive of Sanofi-Aventis of France, is poised to press ahead with a formal offer for Genzyme that could value the US biotech company at close to $19bn, people familiar with the matter said

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Sanofi set to make offer for Genzyme

Brit Insurance agreed to open its books to Apollo after the US private equity group submitted a third offer of £10.75 a share for the Lloyd’s of London insurer

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Apollo pursues Brit Insurance with third offer

(From Forbes.com) Last month the U.S. Supreme Court issued a highly anticipated opinion, City of Ontario, California v. Quon, which sheds some light on an often overlooked, yet important, issue in many corporations today: technology and network use policies. The case highlights the importance of using these policies to address a company’s right to access information created and sent using work-issued technology in connection with an employee’s expectation of privacy in the workplace. Taking into account this important decision, companies must create, implement and enforce these policies, ensuring employees are aware that their actions may be monitored. Read more.

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Privacy Vs. Technology In The Workplace

(From ABC.net.au) Wouldn’t it be great if rising demand on the health system led to an automatic increase in the health budget? Wouldn’t it be great if an increase in demand for peak-hour trains led directly to governments providing more of them? Wouldn’t it be great if governments responded to citizens need for services in the same way they respond to employers demands for more immigration. Australia has, we are told, a skills shortage. Presumably developing countries have much better education systems than ours as they, it seems, have a skills surplus. Does it seem a little bit weird that so many people from the rest of the world want to come to Australia for an education but, at the same time, so many Australian employers would prefer to employ people with skills obtained overseas? Does it seem strange that developing countries are better able to train doctors than a country like Australia? This does not mean that doctors from other countries should not be free to come to Australia if they wish to, but the idea that we have a shortage of doctors and other countries have a surplus is just absurd. The reality is that Australian governments have decided it is cheaper to let other countries invest in training and for us to poach them. Read more.

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For the love of profits: Australia’s skills shortage

Gibson Dunn on GE's Oil-for-Food Fraud Case The American Lawyer … such settlement the SEC has struck with companies accused of paying kickbacks in the oil-for-food program, according to The Wall Street Journal. … and more

The deal, which gives Procter & Gamble the right to use the Olympic rings logo globally, is the first with the International Olympic Committee that covers multiple brands under one sponsor

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P&G in 10-year deal with Olympics

The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the …. This is the greatest Ponzi scam mafia ever. They should all pay BIG TIME! mrburnone. July 28th, 2010 – 16:39. How can one still speak about  “leadership irresponsable”? what we have in place of pure corruption and simple à all levels. …

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The Infamous Bail-out Of Fannie and Freddie | My Insurance Haven

Got flood damage? Watch out for home repair scams Chicago Sun-Times Illinois law requires a written contract listing all costs for home repair or remodeling work over $1000. • Be wary of contractors who demand full payment … and more

Bridal show run by Brookline woman unveiled as scam Tribune Review Karen Tucker, 47, was arrested yesterday morning at her home and made an initial appearance before a Pittsburgh federal magistrate. … and more

The world’s largest real estate consultancy reports the strongest growth in revenue and earnings since 2007 as it benefits from the global recovery in commercial property activity

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CBRE upbeat on global recovery

RushLimbaugh.com (subscription) Liberal Policies, Not Capitalism, Caused This Economic Condition RushLimbaugh.com (subscription) These people who are creative on Wall Street had to come up with ways to make these worthless mortgages worth something, so they created all this stuff. …

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Liberal Policies, Not Capitalism, Caused This Economic Condition – RushLimbaugh.com (subscription)

A leading Tomkins shareholder has expressed anger at the price and management incentive package in an agreed takeover bid from a Canadian consortium

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Tomkins investor angry at bid deal

(From Harvard Business Review) — Tony Hayward’s expected departure as CEO of BP today won’t be the biggest surprise; the surprise is that it’s taken so long. (I called publicly for his resignation some time ago.) The Case of Tony Hayward and the Gulf Oil Spill will be fodder for business school discussions for years to come, as a how-not-to-do-it guide for leadership when disaster strikes. Mr. Hayward must have studied management in a parallel universe, where a set of anti-rules for bad leadership are taught. Here’s what I imagine are those anti-rules. Deny and minimize problems. Drop any mention of the high-minded principles you announced at the beginning of your term, such as safety and a culture that puts people first. Sweep them under the rug as you play down the significance of the crisis. Or better yet, find someone else to blame—a supplier, a business partner, a lowly employee or two. Emphasize your own power and importance. Keep yourself front and center all the time. Rarely bring forward the rest of the team, nor even indicate that it’s a team effort. Make the story all about you. Talk about your heavy burdens and the costs to your life. When forced to acknowledge the true victims, pay lip service. Never apologize, and don’t even pretend to learn from your mistakes. Brush off public disapproval, and persist in the same mindless behavior that provoked criticism in the first place. Hang onto your job even when it’s clear you should go, in order to negotiate the highest severance package, whether you deserve it or not. Don’t even consider a deferred resignation to allow for smooth suggestion. Cling to power, and keep everyone guessing to the very end. Just reverse these rules, and the outcome could have been different. Good leaders must face facts, prepare for the worst case scenario, draw on the whole team, show constant concern for stakeholders, acknowledge mistakes and not make the same ones twice, and do the honorable thing if getting in the way of company progress. BP, in fact, mobilized thousands of employees and former employees from around the world to work on the Gulf Oil spill; the saga of Mr. Hayward now seems peripheral to the main action. Read more.

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Leadership Tips from Tony Hayward (or Not)

(From Gradkin Blog) — With the current view that the generational gap in the workforce is as wide as ever, it’s spurred a recent push by companies to better understand the Gen-Y recruitment landscape. Many companies that had previously been satisfied with their talent management strategies, now realise that methods of old aren’t as applicable anymore. Graduate recruitment like other functions of a business needs to evolve with time. Human Resource professionals globally are in a constant state of incertitude as they try to figure out the answer to “How do we attract Gen-Y talent?”. The reason for the uncertainty really lies in a lack of understanding of today’s millennials. When you can get inside their head though and understand exactly what motivates them, tailoring your recruitment processes around it leads to a winning attraction strategy. The issue is complicated further with a War for Talent reemerging as the global economy recovers. Not only are employers desperate to attract the right talent, they do so in an increasingly competitive job market – start-ups, SMEs and MNCs are all fighting over the best talent and the companies with the most persuasive stories win. So, how exactly do companies ensure they stand out when attracting Gen-Y talent? Read more.

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4 Steps to Attracting Gen-Y Talent

New wave of whistle-blowers could become millionaires USA Today By Paul Burns, Lifesize/Getty Images By Eamon Javers, CNBC Under little-noticed new provisions of the Dodd-Frank Wall Street reform law, whistle-blowers … and more

The Big Four accountants dominance of auditing is facing mounting international scrutiny after the UK’s House of Lords launched a review into the firms’ role in the financial crisis

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UK Lords take long hard look at Big Four

General Electric has agreed to pay $23.5m to settle allegations from US regulators that its subsidiaries bribed Iraqi officials to win contracts under the UN Oil for Food Programme between 2000 and 2003

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GE pays $23m after Iraq probe

Lockheed Martin, the world’s largest defence contractor by revenues, reports second-quarter results that beat analysts’ earnings estimates but fall slightly short of forecasts for revenues

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Lockheed reports rise in profits

While a bold attempt at preventing unnecessary foreclosures, the analysts at Moody’s Investors Service argue that the GSE may encounter snags ahead since figuring out who to penalize for strategically walking away will be a significant …

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Moody's Questions Feasibility of Fannie Mae's Strategic Default …

Anyway You Cut It – Sales Just Aren't Cutting It Forex Hound (blog) As a long-time market-watcher, I get a kick out of those countless Wall Street “experts” who focus so slavishly on “the number. … and more

The deal extends Google’s dominance of the global search market and cuts off another avenue for Microsoft’s Bing to make substantial gains, as Yahoo struggles to increase revenues

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Google to power Yahoo Japan web search

SEC pays $1 million to woman who ratted on her ex Washington Post (blog) One of Wall Street's best-known hedge fund managers is targeted, but the feds can't find proof. Years pass, and they close the case. … and more

The summer stock market blast higher has wiped out the conviction of short sellers. Bears are back in hibernation and Stock Short Sales at 2-Year Low, Data Explorers Says.Investors are exiting bearish bets on global equities, pushing bullish wagers on stocks to a two- year high versus short sales, according to Data Explorers. The firm’s long-short ratio has risen to 9.5, having surged from 5.75 in September 2008 when Lehman Brothers Holdings Inc.’s collapse intensified the financial crisis, …

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Bears Go Into Hibernation – Stock Short Sales at 2-Year Low

Elizabeth Warren and Her Discontents Huffington Post (blog) And Tim Geithner, whose vision of Wall Street and its problems is fundamentally different from Geithner's. There are others, too – ideologues like Megan … and more

Marcophiles: Local couple brings home another national dancing prize Naples Daily News And they left with a now dry work ready to hang at home in Atlanta. “The best part for the whole day, for me, was the big hug I got and many thank yous from … and more

Minnesota, God and the $190 million fraud CNNMoney Kiley called his listeners “truth seekers” and appealed to their distrust of Wall Street and the government. Cook said that he could trade currencies with …

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Minnesota, God and the $190 million fraud – CNNMoney

Financial reform law will reward whistle-blowers Omaha World-Herald WASHINGTON — The new financial reform law has what some lawyers call a secret weapon against fraud on Wall Street and in corporate America: the promise of … Paid to Whistle CFO.com Magazine all 2 news articles

Bobsguide (press release) Wall Street Still Doesn't Have a Sheriff New York Times THE current range of opinion on the Securities and Exchange Commission's $550 million settlement in the Goldman Sachs fraud suit lines … SEC makes Goldman man up The News Journal It's a Start WebCPA all 9 news articles

Inquiring minds are once again digging deep into money supply questions. They are intrigued by the fact that money supply measures M2 and TMS1 are plunging towards zero, while TMS2 is still sporting a hefty 10+% year-over-year growth. TMS stands for “True Money Supply”. The suffix (1 or 2) stands for alternate measures, one including savings accounts and the other not. M2 is a widely used Fed aggregate for money. This looks technical (and it is), but please bear with me. I can …

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Money Supply Divergence – TMS1 vs. TMS2 vs. M2 – What does it Mean?

Literary agent’s sale of book rights to Amazon viewed as watershed moment for the industry in the digital age

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Wylie’s split with publisher seen as bad omen

As many as five US banks failed to report hundreds of billions of dollars in credit derivatives bought from foreign counterparties during 2009, leaving those risks below the radar of regulators in the US and Europe

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Alarm at banks’ unreported risk

Private equity group Apollo Management will establish a new bank under an obscure provision buried in the US financial regulations signed into law last week.

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Apollo exploits loophole to create new bank

Goldman Sachs is facing a threat by the Financial Crisis Inquiry Commission to hire outside accountants to comb through the bank’s systems for data on its derivatives business, the panel’s chairman has said

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Goldman threatened with audit by US panel

“I think we’re not going to preserve Fannie and Freddie in anything like the current form,” Geithner said on “Meet the Press.” “We’re going to have to bring fundamental change to that market.” Investor’s Business Daily makes clear that it is not …. The anatomy of a scam , new Geitner book. So when will the journolists ever do any real questioning? NEVER right? Looks like the governed has some ass kicking and then trash to take out. Do they everybody in America has turned …

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Michelle Malkin » Putting the tax in tax-and-spend liberalism

Gretchen Morgenson: Wall Street Refused To Stop Shady Practices In Order To … Huffington Post (blog) The biggest bet which has paid off immensely for Wall Street is banking on the American people's ignorance. The truth is they have bought most of the … Seeing vs. Doing New York Times all 2 news articles

Why is Face the Nation hosting John Fund despite his history of falsehoods? Media Matters for America On July 25, Face the Nation will host Wall Street Journal columnist John Fund, who has pushed phony allegations that the Justice Department engaged in … and more

Globe and Mail Dell Agrees to $100 in Penalties to Settle SEC Accounting Fraud Charges Lawyers and Settlements “Dell was only able to meet Wall Street targets consistently during this period by breaking the rules.” The legality of the rebates is also coming under … Wall Street Breakfast: Must-Know News Seeking Alpha (blog) Dell to Pay $100 Million Settlement New York Times 'A Bad Way to Run a Railroad': Dell Pays Big to Settle Fraud Charges Wall Street Journal (blog) USA Today

Washington Post Digging into finance's pay dirt: The risky business of payday loans and more Washington Post Chris Dodd's bill “financial reform” and started calling it ” Wall Street reform.” Most of the headlines and news releases on the sweeping legislation …

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Digging into finance’s pay dirt: The risky business of payday loans and more – Washington Post

In response to Deflationary Wage Pressures Hit Canada; Attitudes and Wal-Mart, the 800-Pound Gorillas several Canadian readers sent me an update on the situation at Canadian grocery giant Loblaw. CBC News reports Loblaw seeing price deflation Brampton Ont.-based grocery giant Loblaw Companies said Thursday it’s feeling the pinch from price deflation and doesn’t see any signs that will ease anytime soon. Loblaw president Allan Leighton told investors on an earnings conference call that …

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Price Deflation at Canadian Grocery Giant Loblaw; Anecdotes from the Illinois Home-Front

In response to Bernanke Says Economic Outlook is “Unusually Uncertain”, Fed Prepared for “Actions as Needed” I received this comment from “Economics Teacher”. ET Writes… Ben is forecasting uncertainty and saying the Fed’s prepared for action as needed. Did Uncle Ben strain his cerebrum coming up with that one (forecasting uncertainty)? I suppose there’s a difference between “unusually uncertain” and “typically uncertain.” Either way it …

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Bernanke is "Unusually Uncertain" – Is that an Improvement?

In response to Five Reasons for Nonsensical Forward Earnings Estimates several people sent me a link to a McKinsey Quarterly report Equity analysts: Still too bullish No executive would dispute that analysts’ forecasts serve as an important benchmark of the current and future health of companies. To better understand their accuracy, we undertook research nearly a decade ago that produced sobering results. Analysts, we found, were typically overoptimistic, slow to revise their forecasts to …

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Charts Show Analysts Historically Overestimate Corporate Earnings by 100%

I have a few more candidates that I would like you to consider supporting in the upcoming mid-term elections. The first of these candidates is Deon Long, running in Florida’s 24th Congressional District. Please check out Where Deon Long Stands on Issues. Deon Long Writes … Dear Mish, I am in a five-way primary battle for the Republican nomination in Florida’s 24th Congressional District. I am running to represent Florida’s24th Congressional District because America needs to …

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Deon Long for Florida District 24

Inquiring minds have been watching the ECRI’s weekly leading index plunge nonstop since October of 2009. Moreover the WLI has been in negative territory for 6 consecutive weeks. click on chart for sharper image Is that a recession call by the ECRI? Absolutely not, at least as of June 14, according to Lakshman Achuthan managing director of ECRI who blasted the Wall Street Journal for misleading reporting. The Business Insider discusses the situation in Why Last Week’s Collapsing ECRI …

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ECRI Weekly Leading Indicators at Negative 9.8; Has the ECRI Blown Yet Another Recession Call?

Putting America Back To Work In response to Kentucky Retirees May Soon Outnumber Pension Contributors where I said “Public unions and untenable pension problems are the whales in the living room. It is high time we do something about it because the whales are rotting and the stench is unbearable” reader Carol replied ….Hello Mish, Here’s a great whale video. Love your blog…thanks! CarolThe Exploding Whale Alternate link: http://www.youtube.com/watch?v=1_t44siFyb4 Please …

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Sunday Funnies 2010-07-18: American Reinvestment and Exploding Whales

In response to Union Hires Non-Union Workers at Minimum Wage to Protest a Company Hiring Non-Union Workers “Harm” commented … Now that Mish has brought to light every conceivable form of labor union hypocrisy and corruption (and I must admit, he really hit the mark on this one), can we move on the *other* evil “unions” that are robbing us all blind? Hold your horses. Please consider the following image snips from the New York Metro “News” Report Attack on Iran …

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Transit Union Plays Nuclear Terrorist Card

Here’s four interesting ways businesses, private citizens, and counties are coping with the economic depression. The first is the most important one. Let’s hope it catches on. Gold, Silver, Copper, Freely Accepted as Money Connect Mid-Michigan reports Competing currency being accepted across Mid-Michigan.New types of money are popping up across Mid-Michigan and supporters say, it’s not counterfeit, but rather a competing currency. Right now, you can buy a meal or visit a chiropractor …

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Ron Paul Silver Ounces Accepted at Michigan Gas Station; Chiropractor Accepts Gold, Silver, Apple Pie; Back to the Stone Age; Chickens Invade Lansing

The French pharmaceuticals group has made a preliminary approach to the US biotech company that has built its business on high-price drugs used to treat rare conditions

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Sanofi makes approach to Genzyme

We are not all Facebookers yet. But it is getting close. The social networking site, founded just six years ago, has just notched up its 500 millionth user

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Facebook at 500m

Goldman, the Movie. By Goldman Wall Street Journal But filmmaker Ric Burns, who created the PBS series “The Civil War” with his brother Ken, is shooting a documentary about the Wall Street firm. … and more