Eyjafjallajokull Erupts Again, Closing More Airspace
The Eyjafjallajokull volcano erupted off and on from 1821 to 1823, the last time it was active. So, it should come as no surprise that the eruption in early April which effectively cut air travel…
All Work
Douglas A. McIntyre
Greek PM Say US Banks Will Be Investigated
Greek Prime Minister George Papandreou said his country would investigate what role American investment banks played in damaging his nation’s ability to raise money. His theory appears to be that the banks did something wrong.…
Jean-Claude Trichet, President of the European Central Bank, Sees Greatest Crisis Since WWI: EU Leaders Cut Their Throats
Is it any wonder that the euro is below $1.24, that there are concerns about austerity programs in Greece, Spain, and Portugal, and that the markets worry Germany and France may leave the Eurozone.…
Another Chinese Investment in Canada’s Oil Sands (PWE, PTR, ENB, CEO, SNP, TOT, COP, KMP)
Penn West Energy Trust (NYSE:PWE) is the latest beneficiary of Chinese interest in the Canadian oil sands. China Investment Corp., a state-owned sovereign wealth fund, has agreed to invest about $1.23 billion in developing…
The Worst Oil Spill Ever?
From The Atlantic Wire Two alarming reports from National Public Radio and The New York Times this morning suggest that the amount of oil gushing into the Gulf of Mexico is far greater than…
Coinstar: The Next Blockbuster
Courtesy Coinstar Inc.Stock analysts and investors assume that because one business model is better than another, the better business model is strong. That relies on the assumption that either business is good at all.…
The Twitter-24/7 Wall St. Stock Market Report 5.14 The Wisdom Of Crowds?
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Deepwater Horizon Spill Hits More Gulf Coast Shores
More oil moved ashore from the leak of the wreck of the Deepwater Horizon rig. Some scientists believe that the amount of crude being released each day-5,000 by NOAA estimates–is undermeasured by five or six…
Signs Of The Apocalypse: Euro Below $1.25
The euro dropped below $1.25 for the first time in 14 months. It may have happened because Paul Volcker said that “You have the great problem of a potential disintegration of the euro.” according…
Video Game Sales Get Crushed, iPhone May Be Culprit
Video game sales in the US were decimated in April. It is not clear whether this is due to the growth of free games, especially online and on social network sites, or a pullback in…
The Further Weakening Of Housing
Mortgage rates hit their 2010 low on April 13 at 4.93%. At the same time, RealtyTrac announced that homes which were repossessed hit an all-time high of 92,432 in April. The figure for the…
Media Digest 5/14/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The Senate backed restrictions on credit rating agencies and credit card fees. Reuters: Oil dropped to a three-month low based on demand. Reuters: Facebook will hold a staff meeting on privacy. Reuters: Video…
The Thirteen Housing Markets That Will Never Recover
New RealtyTrac numbers show that in April there were well over 300,000 foreclosures and the figure in on track to be higher in 2010 than in 2009. Several research firms say that underwater mortgages…
Blockbuster, Staggered, Loses Its Footing
Blockbuster, Inc (NYSE: BBI), nearly ruined by the high cost of its store network and withering from competition from NetFlix (NYSE: NFLX) and the kiosk operator Redbox, posted another quarter of dismal results. The rental chain’s net loss for…
Alibaba Earnings Rise as Chinese Government Ponders New Regulations
Alibaba.com is the Hong Kong-listed unit of Alibaba Group, a Chinese B2B e-commerce company that is 39%-owned by Yahoo! Inc. (NASDAQ:YHOO). Alibaba.com reported better-than-expected earnings and revenues this morning, but saw its share price…
Today’s Best Market Rumors (5/13/2010)
Updated throughout the day. The NY Attorney General is probing the relationship between eight banks and ratings agencies. The financial firms include Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutsche Bank, Crédit Agricole and Merrill…
The Twitter-24/7 Wall St. Stock Market Report 5.13 The Wisdom Of Crowds?
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Will the Plundered Ever Shrug?
By John Tamny of Forbes Savers delay consumption so we can have jobs, and business owners risk their net worth while offering us guaranteed wages. Their reward is to have politicians seperate them from…
What, Me Worry? American Confidence Unshaken
Whether total unemployment is at 17% of the population or the housing market is still collapsing. the American tradition of confidence in the future continues. It is not unlike BP’s certainty that it can…
Banks Still Hobble Small Business And For Good Reason
Many economists believe that small businesses with under 100 employees are still the engine of the economy and the major source of new jobs. The banking system has killed that since the beginning of…