BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Before the bell: Stocks set to open higher ahead of earnings season]]>http://www.bloggingstocks.com/2009/10/05/before-the-bell-stocks-set-to-open-higher/http://www.bloggingstocks.com/2009/10/05/before-the-bell-stocks-set-to-open-higher/http://www.bloggingstocks.com/2009/10/05/before-the-bell-stocks-set-to-open-higher/#commentsU.S. stock markets are poised to open higher ahead of the start to the third quarter earnings season. Investors are also continuing to digest last week's worse-than-expected jobs report, which heightened fears of unemployment topping 10% before the end of the year.

Stocks in Europe were little changed while Asian markets mostly fell. The Dow Jones industrial average, S&P 500, and Nasdaq Composite Index all were indicated higher in pre-market trading. Oil prices continue to hover around $70 a barrel as investors await clues from earnings season as to the direction of the market. Traders dumped the dollar after the Group of Seven finance ministers omitted any mention of the currency's weakness in their final communique, according to Bloomberg News.


Continue reading Before the bell: Stocks set to open higher ahead of earnings season

Before the bell: Stocks set to open higher ahead of earnings season originally appeared on BloggingStocks on Mon, 05 Oct 2009 07:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Mon, 05 Oct 2009 07:50:00 EST<![CDATA[Before the bell: Stocks continue rally as investors bet recovery is for real]]>http://www.bloggingstocks.com/2009/08/28/stocks-continue-rally-as-investors-bet-recovery-is-for-real/http://www.bloggingstocks.com/2009/08/28/stocks-continue-rally-as-investors-bet-recovery-is-for-real/http://www.bloggingstocks.com/2009/08/28/stocks-continue-rally-as-investors-bet-recovery-is-for-real/#commentsFiled under: , ,

U.S. stock markets are poised to rise today as more and more positive data convinces Wall Street that the economic recovery is for real.

Futures for the Dow Jones Industrial Average, the Nasdaq Composite Index and the S&P 500 Index were all indicated higher following a rally in overseas markets. Germany's Dax, France's CAC-40 and the U.K.'s FTSE 100 all posted strong gains. Japan's Nikkei 25 also rose while China's Hang Seng declined.

For those looking for silver linings, there are plenty to choose.

Continue reading Before the bell: Stocks continue rally as investors bet recovery is for real

Before the bell: Stocks continue rally as investors bet recovery is for real originally appeared on BloggingStocks on Fri, 28 Aug 2009 07:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>aaplchinachina mobilechina unicomdjiafeaturediphonenasdaqnasdaq composite indexFri, 28 Aug 2009 07:30:00 EST<![CDATA[Before the bell: Stock markets taking a breather]]>http://www.bloggingstocks.com/2009/08/26/before-the-bell-stock-markets-taking-a-breather/http://www.bloggingstocks.com/2009/08/26/before-the-bell-stock-markets-taking-a-breather/http://www.bloggingstocks.com/2009/08/26/before-the-bell-stock-markets-taking-a-breather/#commentsFiled under: ,

The stock market seems like it needs a rest today.

After posting strong performances earlier this week following growing optimism about the economy and the reappointment of Federal Reserve Chairman Ben Bernanke, the main indexes appear headed toward a muted opening. The Dow Jones industrial average and the Nasdaq Composite Index were trading down in pre-market action.

Whether this rally will hold depends on a few things. The U.S. Commerce Department is due to issue its durable goods report for July later this morning. As the Associated Press notes, "Economists polled by Thomson Reuters predict orders to U.S. factories for items expected to last at least three years increased 3 percent in July, due in part to increased auto sales from the government's Cash for Clunkers program." They fell in June.

Continue reading Before the bell: Stock markets taking a breather

Before the bell: Stock markets taking a breather originally appeared on BloggingStocks on Wed, 26 Aug 2009 08:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>economynasdaqnyserecessionroubinistock marketWed, 26 Aug 2009 08:30:00 EST<![CDATA[Before the Bell: U.S. stock markets unsettled]]>http://www.bloggingstocks.com/2009/08/05/before-the-bell-u-s-stock-markets-unsettled/http://www.bloggingstocks.com/2009/08/05/before-the-bell-u-s-stock-markets-unsettled/http://www.bloggingstocks.com/2009/08/05/before-the-bell-u-s-stock-markets-unsettled/#commentsFiled under: , , ,

U.S. stock markets may be poised to rise, extending their gains from earlier this week, as traders bet that the worst of the steepest economic decline since the Great Depression is ending. Then again, they may end their recent winning streak.

It's one of those days.

S&P Futures expiring in September were little changed as investors digested the latest batch of earnings news. These recent quarterly reports have been largely viewed positively. Some investors may be worrying if stock valuations have gotten too rich.

Continue reading Before the Bell: U.S. stock markets unsettled

Before the Bell: U.S. stock markets unsettled originally appeared on BloggingStocks on Wed, 05 Aug 2009 07:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredFLXFTSE 100Ftse100HASHBCLYGWFMIWed, 05 Aug 2009 07:30:00 EST<![CDATA[Before the bell: Investors look for hopeful signs]]>http://www.bloggingstocks.com/2009/04/13/investors-look-for-hopeful-signs/http://www.bloggingstocks.com/2009/04/13/investors-look-for-hopeful-signs/http://www.bloggingstocks.com/2009/04/13/investors-look-for-hopeful-signs/#commentsFiled under: , , , , , , ,

Investors have had little reason to be hopeful during the past two years as the economic news seems to get more depressing by the day. But lately, the stock market has turned optimistic and investors begin the week bracing themselves for any word that the good times may not last.

Stocks appear poised to open higher as Express Scripts Inc. (NASDAQ: ESRX) agreed this morning to acquire Wellpoint Inc.'s pharmacy benefits management business for $4.68 billion, proving that the once-moribund mergers and acquisitions market is showing signs of life.

Continue reading Before the bell: Investors look for hopeful signs

Before the bell: Investors look for hopeful signs originally appeared on BloggingStocks on Mon, 13 Apr 2009 07:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACESRXfeaturedGEJPMKenneth LewisKennethLewisVikram panditVikramPanditwellpointWFCMon, 13 Apr 2009 07:45:00 EST<![CDATA[Before the Bell: Wall Street is on a roll -- for now]]>http://www.bloggingstocks.com/2009/04/09/before-the-bell-wall-street-is-on-a-roll-for-now/http://www.bloggingstocks.com/2009/04/09/before-the-bell-wall-street-is-on-a-roll-for-now/http://www.bloggingstocks.com/2009/04/09/before-the-bell-wall-street-is-on-a-roll-for-now/#commentsFiled under: , , , , , ,

Investors are expecting Wall Street to continue its recent winning ways.

Stocks are poised to open higher as investors await March retail sales data and the weekly unemployment report. Markets in Europe and Asia were higher.

Retail sales, though weak, may not be as bad as investors had feared. According to the Wall Street Journal, "Wal-Mart Stores and a select group of its discounting peers have helped retail sales exceed modest expectations every month since December, and that streak likely will continue."

Continue reading Before the Bell: Wall Street is on a roll -- for now

Before the Bell: Wall Street is on a roll -- for now originally appeared on BloggingStocks on Thu, 09 Apr 2009 07:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYCPKICTXeconomyfeaturedMSPHMretail salesRetailSalesunemploymentWal-MartWall StreetWallStreetThu, 09 Apr 2009 07:40:00 EST<![CDATA[Before the bell: Stocks poised to drop following Alcoa's disappointing earnings]]>http://www.bloggingstocks.com/2009/04/08/stocks-look-poised-to-drop-following-alcoas-disappointing-earni/http://www.bloggingstocks.com/2009/04/08/stocks-look-poised-to-drop-following-alcoas-disappointing-earni/http://www.bloggingstocks.com/2009/04/08/stocks-look-poised-to-drop-following-alcoas-disappointing-earni/#commentsFiled under: , , , ,

U.S. stocks may be poised to drop for a third day following yesterday's disappointing results from Alcoa Inc. (AA), the first major Dow component to report this earnings season.

According to Bloomberg News, futures on the S&P 500 expiring in June decreased 0.9 percent to 806.60 at 10:50 a.m. in London, while Dow Jones Industrial Average futures slid 1% to 7,683 and Nasdaq-100 Index futures fell 0.6% to 1,273.75. Markets in Europe and Asia were also down.

Continue reading Before the bell: Stocks poised to drop following Alcoa's disappointing earnings

Before the bell: Stocks poised to drop following Alcoa's disappointing earnings originally appeared on BloggingStocks on Wed, 08 Apr 2009 07:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AACOPFDOfeaturedJNPRNouriel RoubiniNourielRoubiniSTZWed, 08 Apr 2009 07:30:00 EST<![CDATA[Before the Bell: Will earnings season start with a whimper?]]>http://www.bloggingstocks.com/2009/04/07/before-the-bell-will-earnings-season-start-with-a-whimper/http://www.bloggingstocks.com/2009/04/07/before-the-bell-will-earnings-season-start-with-a-whimper/http://www.bloggingstocks.com/2009/04/07/before-the-bell-will-earnings-season-start-with-a-whimper/#commentsFiled under: , , , ,

Alcoa Inc. (AA) must have drawn the short straw to be the economic canary in the coal mine decades ago, but for many investors the aluminum maker's earnings are seen as a harbinger of things to come. Judging from Wall Street estimates, expectations are so low, they are almost laughable.

Analysts expect the Dow component to lose 56 cents per share on revenue of $4.08 billion compared with $303 million, or 37 cents, a year earlier on revenue of $7.38 billion, according to estimates by Thomson Reuters. The Pittsburgh-based company reported its first loss in six years in January. Its shares are down about 30 percent this year, even with the recent surge in the stock market.


Continue reading Before the Bell: Will earnings season start with a whimper?

Before the Bell: Will earnings season start with a whimper? originally appeared on BloggingStocks on Tue, 07 Apr 2009 07:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AAAlcoacorporate earningsCorporateEarningsEarnings seasonEarningsSeasonfeaturedNASDAQNYSESP 500Sp500Tue, 07 Apr 2009 07:33:00 EST<![CDATA[Before the Bell: When will the party end?]]>http://www.bloggingstocks.com/2009/04/06/before-the-bell-when-will-the-party-end/http://www.bloggingstocks.com/2009/04/06/before-the-bell-when-will-the-party-end/http://www.bloggingstocks.com/2009/04/06/before-the-bell-when-will-the-party-end/#commentsFiled under: , , ,

For the past few weeks, investors have "partied like its 1999" as in the heady days of the tech bubble and not the song by Prince.

They have taken a "What me worry?" attitude that would make Alfred E. Neuman, the fictional mascot of "Mad" magazine proud, sending the major indexes soaring after data showed some small signs of improvement, even though the economy lost 663,000 jobs in March.

Continue reading Before the Bell: When will the party end?

Before the Bell: When will the party end? originally appeared on BloggingStocks on Mon, 06 Apr 2009 07:42:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>before the bellBeforeTheBellIBMJAVANASDAQNYSEstock marketStockMarketMon, 06 Apr 2009 07:42:00 EST<![CDATA[Private investors have to be part of any financial rescue ]]>http://www.bloggingstocks.com/2009/02/09/private-investors-have-to-be-part-of-any-financial-rescue/http://www.bloggingstocks.com/2009/02/09/private-investors-have-to-be-part-of-any-financial-rescue/http://www.bloggingstocks.com/2009/02/09/private-investors-have-to-be-part-of-any-financial-rescue/#commentsFiled under: , , , , ,

Lost amidst all of the talk about bank nationalization, capital ratios and executive jets is any discussion about how the free market can help stabilize the faltering banking system. That's until Treasury Secretary Timothy Geithner mentioned it today.

What people forget is that the Troubled Asset Relief Program is supposed to be temporary. Yes, I know $700 billion seems permanent, but it's not. Banks are supposed to pay the government back with interest once the economy improves and their toxic assets become something people want. The only way that this is going to happen is with private money.

Continue reading Private investors have to be part of any financial rescue

Private investors have to be part of any financial rescue originally appeared on BloggingStocks on Mon, 09 Feb 2009 17:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredgeithnerTARPWilbur RossWilburRossMon, 09 Feb 2009 17:40:00 EST<![CDATA[IBM offers laid-off workers a job -- overseas]]>http://www.bloggingstocks.com/2009/02/06/ibm-offers-laid-off-workers-a-job-overseas/http://www.bloggingstocks.com/2009/02/06/ibm-offers-laid-off-workers-a-job-overseas/http://www.bloggingstocks.com/2009/02/06/ibm-offers-laid-off-workers-a-job-overseas/#commentsFiled under: , ,

International Business Machines Corp. (NYSE: IBM) is taking offshoring to a new level.

According to CNN/Money, Big Blue has a program called Project Match that will "help interested workers whose jobs are on the chopping block to "identify potential opportunities in (overseas) growth markets and facilitate consideration by hiring managers in those markets.'" It will even help with moving costs and provide assistance with visas.

Continue reading IBM offers laid-off workers a job -- overseas

IBM offers laid-off workers a job -- overseas originally appeared on BloggingStocks on Fri, 06 Feb 2009 12:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>economyIBMOffshoringtech stocksTechStocksUnionsFri, 06 Feb 2009 12:10:00 EST<![CDATA[Media World: First ever layoffs at Bloomberg L.P.]]>http://www.bloggingstocks.com/2009/02/05/media-world-first-ever-layoffs-at-bloomberg-l-p/http://www.bloggingstocks.com/2009/02/05/media-world-first-ever-layoffs-at-bloomberg-l-p/http://www.bloggingstocks.com/2009/02/05/media-world-first-ever-layoffs-at-bloomberg-l-p/#commentsFiled under: , , ,

Bloomberg L.P., where I worked for seven years as a reporter for Bloomberg News, has announced plans for its first-ever corporate layoffs, proving that the media empire founded by New York City Mayor Mike Bloomberg in 1981 is not immune to the economic slowdown.

The cuts, 100 in total, were in the company's radio and TV operations. They are not surprising. Both Bloomberg TV and radio station WBBR have been poorly managed for years. Many of CNBC's biggest stars, including Dylan Ratigan, started their careers at Bloomberg TV. They no doubt went to the General Electric Co. (NYSE:GE)-owned network for bigger money and bigger audiences. The reorganization that the New York Times refers to may include the end of non-English language programming. It also means getting rid off high-priced talent.

Continue reading Media World: First ever layoffs at Bloomberg L.P.

Media World: First ever layoffs at Bloomberg L.P. originally appeared on BloggingStocks on Thu, 05 Feb 2009 14:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>advertisingbloomberg lpbloomberg newsbloomberg tvBloombergLpBloombergNewsBloombergTvinthenewsmediawbbrThu, 05 Feb 2009 14:32:00 EST<![CDATA[Will Fortunoff be the next chain to bite the dust?]]>http://www.bloggingstocks.com/2009/02/04/will-fortunoff-be-the-next-chain-to-bite-the-dust/http://www.bloggingstocks.com/2009/02/04/will-fortunoff-be-the-next-chain-to-bite-the-dust/http://www.bloggingstocks.com/2009/02/04/will-fortunoff-be-the-next-chain-to-bite-the-dust/#commentsFiled under: , ,

Fortunoff may be the next retail chain headed for the scrap heap.

According to Bloomberg News, this once-venerable company is headed for Chapter 11 bankruptcy and a possible liquidation. The demise of Fortunoff comes a year after Lord & Taylor parent NRDC purchased the company out of bankruptcy. At the time, NRDC thought Fortunoff was the best thing since sliced bread. Lord & Taylor even made available a $10 million line of credit to the chain. But now, the chain's lease at its flagship store has expired and the store, located on Fifth Avenue near Bergdorf Goodman, Prada and Tiffany & Co. (NYSE:TIF) is vacant.

Continue reading Will Fortunoff be the next chain to bite the dust?

Will Fortunoff be the next chain to bite the dust? originally appeared on BloggingStocks on Wed, 04 Feb 2009 13:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>consumer spendingConsumerSpendingFifth AvenueFifthAvenueFortunoffinthenewsretailretail salesRetailSalessbuxtgttifwmtWed, 04 Feb 2009 13:45:00 EST<![CDATA[The Citigroup-NY Mets deal is nuts]]>http://www.bloggingstocks.com/2009/02/03/the-citigroup-ny-mets-deal-is-nuts/http://www.bloggingstocks.com/2009/02/03/the-citigroup-ny-mets-deal-is-nuts/http://www.bloggingstocks.com/2009/02/03/the-citigroup-ny-mets-deal-is-nuts/#commentsFiled under: , ,

The New York Mets, whose September collapses have delighted us Philadelphia Phillies fans, have screwed up even bigger with their $400 million stadium naming rights deal with Citigroup Inc. (NYSE: C).

Baseball's premier choke artists are now denying an earlier report that the troubled New York-based bank was trying to back out of its commitment to the team. New York Newsday is quoting a team official "We're committed to our agreement with Citi, and Citi has indicated it is committed to users." He went on to defend Citi, saying that the bank "needs to advertise."

Continue reading The Citigroup-NY Mets deal is nuts

The Citigroup-NY Mets deal is nuts originally appeared on BloggingStocks on Tue, 03 Feb 2009 12:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>baseballcfeaturedjerry manuelJerryManuelmajor league baseballMajorLeagueBaseballNY MetsNyMetsTue, 03 Feb 2009 12:30:00 EST<![CDATA[Sandy Weill gives up Citigroup corporate jet]]>http://www.bloggingstocks.com/2009/02/02/sandy-weill-gives-up-citigroup-corporate-jet/http://www.bloggingstocks.com/2009/02/02/sandy-weill-gives-up-citigroup-corporate-jet/http://www.bloggingstocks.com/2009/02/02/sandy-weill-gives-up-citigroup-corporate-jet/#commentsFiled under: , ,

Over the weekend, the New York Post reported that former Citigroup Inc. (NYSE: C) Chief Executive Sandy Weill and his family flew on a company jet for a vacation in Mexico weeks after the New York-based bank received a $45 billion bailout from the federal government and said it would slash 75,000 jobs. Today, the now-disgraced banker said he will give up the perk

According to the Wall Street Journal, "Weill's office said in a statement on Monday morning that `in light of the unprecedented circumstances that Citi finds itself in' he decided to stop using Citi aircraft immediately." Wow, if you did not know any better you would have thought he had given up his left arm instead of a seat on a luxurious jet.

Continue reading Sandy Weill gives up Citigroup corporate jet

Sandy Weill gives up Citigroup corporate jet originally appeared on BloggingStocks on Mon, 02 Feb 2009 17:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>banksCcitigroupcorporate governancecorporate jetsCorporateGovernanceCorporateJetsfeaturedSandy weillSandyWeillMon, 02 Feb 2009 17:45:00 EST<![CDATA[How 'super' was the Super Bowl for GE? (Updated)]]>http://www.bloggingstocks.com/2009/02/02/how-super-was-the-super-bowl-for-ge/http://www.bloggingstocks.com/2009/02/02/how-super-was-the-super-bowl-for-ge/http://www.bloggingstocks.com/2009/02/02/how-super-was-the-super-bowl-for-ge/#commentsFiled under: , , ,

Was yesterday's Super Bowl "super" for General Electric Co. (NYSE: GE)? While it is no doubt prestigious to broadcast the NFL championship, I wonder whether it's as great as it seems for the company's bottom line.

GE's NBC network trumpeted in a press release that it earned $206 million in advertising revenue from 32 different advertisers. It sold the last two of the spots the night before the game. I am skeptical about this figure for several reasons.

Any numbers publicized in connection with advertising should be taken with a grain of salt. Gross billings, which often gets publicized, is a bogus number because it includes stuff that agencies charge their clients such as postage. The revenue figures publicized by NBC can be fudged in many ways. Remember, this is advertising.

Continue reading How 'super' was the Super Bowl for GE? (Updated)

How 'super' was the Super Bowl for GE? (Updated) originally appeared on BloggingStocks on Mon, 02 Feb 2009 13:24:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AdvertisingEnterainmentFeaturedGEMediaNBCNFCSuper BowlSuperBowlMon, 02 Feb 2009 13:24:00 EST<![CDATA[Will the slowing economy hurt or help the new Wal-Mart CEO?]]>http://www.bloggingstocks.com/2009/01/30/will-the-slowing-economy-hurt-or-help-the-new-wal-mart-ceo/http://www.bloggingstocks.com/2009/01/30/will-the-slowing-economy-hurt-or-help-the-new-wal-mart-ceo/http://www.bloggingstocks.com/2009/01/30/will-the-slowing-economy-hurt-or-help-the-new-wal-mart-ceo/#commentsFiled under: ,

Wal-Mart Stores Inc.'s (NYSE: WMT) new Chief Executive Mike Duke will have his hands full once he takes control of the world's largest retailer on Sunday.

For one thing, the economy continues to struggle. Gross Domestic Product fell 3.8% in the fourth quarter, the most since 1982. Consumer spending fell 3.5% in the quarter as unsold goods continued to pile up. Though consumer confidence rose to a four-month high, it was still weaker than expected.

Continue reading Will the slowing economy hurt or help the new Wal-Mart CEO?

Will the slowing economy hurt or help the new Wal-Mart CEO? originally appeared on BloggingStocks on Fri, 30 Jan 2009 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>consumer confidenceconsumer spendingConsumerConfidenceConsumerSpendingeconomyfeaturedmike dukeMikeDukeretailTGTWMTFri, 30 Jan 2009 17:00:00 EST<![CDATA[Exxon's profits sure to inspire the haters]]>http://www.bloggingstocks.com/2009/01/30/exxons-profits-were-the-worst-in-six-years-but-still-were-huge/http://www.bloggingstocks.com/2009/01/30/exxons-profits-were-the-worst-in-six-years-but-still-were-huge/http://www.bloggingstocks.com/2009/01/30/exxons-profits-were-the-worst-in-six-years-but-still-were-huge/#commentsFiled under: , , , ,

Remember when Exxon Mobil (NYSE: XOM) was the symbol of all that was evil in corporate America? Remember when people were pawning their jewelry to buy gas? Remember when politicians spoke of a windfall profits tax? Well, move over Wall Street, the largest publicly traded oil company is back again to grab some of the negative publicity.

The company reported $45.22 billion in profits last year, the largest ever for an American corporation. The results beat Exxon's previous record. Exxon spent $40 billion on dividends and share buybacks.

Continue reading Exxon's profits sure to inspire the haters

Exxon's profits sure to inspire the haters originally appeared on BloggingStocks on Fri, 30 Jan 2009 10:56:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chevroncommoditiesCOPcVXenergyenergy stocksEnergyStocksinthenewsoil pricesOilPricesXOMFri, 30 Jan 2009 10:56:00 EST<![CDATA[Faced with economic disaster, Icelanders could care less that their prime minister is gay]]>http://www.bloggingstocks.com/2009/01/29/faced-with-economic-disaster-icelanders-could-care-less-that-t/http://www.bloggingstocks.com/2009/01/29/faced-with-economic-disaster-icelanders-could-care-less-that-t/http://www.bloggingstocks.com/2009/01/29/faced-with-economic-disaster-icelanders-could-care-less-that-t/#commentsFiled under: , ,

Perhaps no economy in the world is in such disastrous shape as Iceland. Last year, the weight of the global financial crisis crushed this island nation causing its banking system to implode, its currency to collapse and its unemployment rate to soar.

This is quite a reversal for the country founded circa 874 AD. The United Nations' Human Development Index ranked Iceland as the world's most developed country. Maybe that was the result of the reckless abandon shown in running the country's banks.

Continue reading Faced with economic disaster, Icelanders could care less that their prime minister is gay

Faced with economic disaster, Icelanders could care less that their prime minister is gay originally appeared on BloggingStocks on Thu, 29 Jan 2009 18:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>eueuropegayicelandinthenewsJohanna SigurdardottirJohannaSigurdardottirThu, 29 Jan 2009 18:15:00 EST<![CDATA[Obama flips out over Wall Street bonuses]]>http://www.bloggingstocks.com/2009/01/29/obama-flips-out-over-wall-street-bonuses/http://www.bloggingstocks.com/2009/01/29/obama-flips-out-over-wall-street-bonuses/http://www.bloggingstocks.com/2009/01/29/obama-flips-out-over-wall-street-bonuses/#commentsFiled under: , , , ,

It takes quite a bit to make our new president angry, but a New York Times report saying that Wall Street paid $18.4 billion in bonuses last year as companies teetered on the brink of collapse did the trick.

Speaking to reporters in Washington, President Obama seemed livid at the financial services industry. He called the payouts "the height of irresponsibility. It is shameful."

Wall Street might want to forgo bonuses for everybody. That's Obama's view and it is probably shared by the majority of the American people. Vice President Joe Biden told CNBC that he wants to lock up Wall Street bad guys.

Treasury Secretary Timothy Geithner already had to twist Citigroup Inc.'s (NYSE:C) arm to "change its mind" about buying a corporate jet. New York Attorney General Andrew Cuomo is investigating bonuses paid by Merrill Lynch before its acquisition by Bank of America Corp. (NYSE: BAC). Then, of course, there are the shenanigans at American International Group Inc. (NYSE: AIG).




Continue reading Obama flips out over Wall Street bonuses

Obama flips out over Wall Street bonuses originally appeared on BloggingStocks on Thu, 29 Jan 2009 16:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AIGandrew cuomoAndrewCuomobacfeaturedgeithnerobamawall streetwall street bailoutWallStreetWallStreetBailoutThu, 29 Jan 2009 16:40:00 EST