Good, Bad, and Ugly

Still spending…

Fearful consumers stop spending in August

spending-220.jpgWASHINGTON (Reuters) – Consumers facing rising unemployment kept their spending unchanged in August even though incomes rose, according to a government report Monday that showed optimism about the economy’s direction was fading.

Corporations paying taxes

Study says most corporations pay no U.S. income taxes

irs-220.jpgWASHINGTON (Reuters) – Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said.

A story in two minutes?

Side effects mar Elan, Wyeth Alzheimer’s trial

CHICAGO, July 29 (Reuters)- Keenly awaited details on Elan and Wyeth’s new Alzheimer’s drug bapineuzumab show it raised the risk of a potentially serious side effect, especially in people with a genetic risk of the disease, the companies said on Tuesday.

The wrong figures

gdp-graph.jpg

In the article you report that 2007 Q4 GDP declined at .2 percent, but the graphic associated with the article shows it growing at .6 percent for the same period.

Do the math

US regulators seize two more banks

The FDIC said the cost of the transactions to its insurance fund is estimated to be $862 million, adding that the two failed banks represent just 0.3 percent of $13.4 trillion in total industry assets at about 8,500 FDIC-insured institutions.

The wrong guy

paulson.jpg

The photo is Henry Paulson.  John Paulson has hair …

P.H.

Sigh. Yes, wrong Paulson. We removed the photo: GBU Editor

The poll position

Majority of economists see McCain better for stocks

mccain-0724-180.jpgWASHINGTON (Reuters) – The U.S. stock market would fare better in the first year after a victory by Republican presidential candidate John McCain than by his Democratic rival Barack Obama, according to a majority of economists at U.S. banks and research groups polled by Reuters.

An old story

U.S. July auto sales drop, Toyota surges

Aug 1 (Reuters) – U.S. auto sales slid 17 percent in July as Americans shunned trucks and opted for more fuel-efficient cars, catapulting Japan’s Toyota Motor Corp. past Ford Motor Co. into the No. 2 spot for the first time.

Doing the math

amylin-160.gifAmylin posts wider second-quarter net loss

Revenue rose nearly 13 percent to $222 million, beating the analysts’ target of $224.3 million. Net sales of diabetes drug Byetta, which Amylin co-markets with Eli Lilly and Co, rose 17 percent to $177.5 million

They’re not borrowers…

IndyMac borrowers line up in California to withdraw their cash

indymac-180.jpgYour headline is inaccurate. These customers are not “borrowers”- they are “depositors” who are trying to withdraw their funds held in deposit accounts.