Good, Bad, and Ugly

Popular ad?

May 27, 2009

GM bondholders shun tender offer; bankruptcy nears

The event marks a critical disappointment for GM, the largest U.S. automaker and once considered the bellwether of U.S. manufacturing. A popular ad for the automaker once stated that “What’s good for General Motors, is good for the USA.”

Very unfortunate typo…

May 21, 2009

BofA CEO: Economy bottoming, pay reform neededBank of America was among 19 big banks subjected to the teats.Subjected to the teats?Justin R.Yikes. We corrected it to say TESTS: GBU Editor

Bank of America Chief Executive Officer Kenneth Lewis speaks at the Boston College CEO club luncheon in Boston, Massachusetts March 12, 2009. Reuters/Brian Snyder

The wrong tax?

May 12, 2009

Implications of Japan opposition leader quitting

Former party leader Katsuya Okada, often cited as a frontrunner, has in the past favoured a hike in the three percent sales tax to fund bulging social security costs, a move Ozawa had ruled out for now.

Jobless numbers…

April 4, 2009

One in 10 Americans gets help from U.S. to buy food

The U.S. unemployment rate was 8.1 percent in February, the highest in 25 years. Weekly claims for jobless benefits totaled 669,000 last week, the highest in 26 years, the government said on Thursday.

Come what Mae?

April 1, 2009

Fox News’ Bill O’Reilly boycotting Sean Penn films

And the Barney Frank thing (in which O’Reilly called Frank a “coward” during an October debate over Fannie May and Freddie Mac). But I really wasn’t angry; I just needed to scold him because he was blaming everyone else, even though some of this economic mess is his fault.

So it’s safer here?

March 30, 2009

SEC accuses Caribbean bank of $68 mln Ponzi scheme

“The defendants disguised their Ponzi scheme as a legitimate offshore investment and made promises about exuberant returns that were just too good to be true,” said Rose Romero, head of the SEC’s regional office in Fort Worth. “This case demonstrates that investors need to be especially cautious when placing money with entities that may be outside the reach of U.S. regulators.”

Please get real…

March 26, 2009

Brazil stocks rise; real flat on housing plan, US

SAO PAULO, March 25 (Reuters) – Brazil’s stocks gained on Wednesday following the government’s announcement of a massive low-income housing plan and stronger than expected U.S. durable goods sales in February, while the currency traded sideways.

Health care costs?

March 17, 2009

U.S. business leaders say hobbled by healthcare costsThe Business Roundtable, which represents the largest U.S. corporations, released a study showing that for every $100 spent in the United States on healthcare, a group of five leading economic competitors — Canada, Japan, Germany, the United Kingdom and France — spend about 63 cents.The article states that for every $100 dollars spent by the US on healthcare, 5 chief competitors spend 66 cents. I think they’ve changed their units mid-stream and that it should be $66 dollars per $100 or 66 cents per dollar.D.R.A number of readers noticed this one. We corrected: GBU Editor

2007 file photo by REUTERS/Jim Bourg

Foreclosure figures

March 7, 2009

One in 8 U.S. households late paying or in foreclosure

NEW YORK (Reuters) – About one in every eight U.S. households, a record share, ended 2008 behind on their mortgage payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.

Gold rise

February 25, 2009
Gold rises over $1,000 on haven buying

NEW YORK/LONDON (Reuters) – Gold rose above $1,000 an ounce on Friday for the first time since March last year as nervous investors piled into the yellow metal to preserve wealth amid a tumbling stock market.