U.S. Is Not Like Cyprus
ThinkstockFor journalists and commentators who have nothing better to do, at least to attract readers, some have come up with the notion that the United States is something like Cyprus in several regards. Less…
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Douglas A. McIntyre
Cypriot Banks Set to Reopen
ThinkstockCyprus will open its banks, which have been shuttered for days as the nation set a deal with the European Union, European Central Bank and International Monetary Fund for a bailout. Depositors with the…
Spammers Fight Back: Internet Battle Rages
ThinkstockAnyone worried about the stability of the World Wide Web will take no solace in the battle between an organization that has attempted to keep the Internet largely free of spam and another that is…
Michael Dell Could Team With Blackstone
courtesy Dell Inc.Michael Dell may not lose his job, even if his partnership with private equity firm Silver Lake Partners does not result in the intended takeover of Dell Inc. (NASDAQ: DELL). Apparently another…
RealtyTrac: Foreclosure Inventory Up 9% in First Quarter
ThinkstockRealtyTrac, a leader in home foreclosure data, reported that the inventory of homes in foreclosure rose 9% year-over-year in the first quarter of this year to 1.5 million homes. In its Foreclosure Inventory Analysis, it reported…
Should AMR CEO Get $19.9 Million for Layoffs?
ThinkstockA federal bankruptcy judge approved the AMR exit from Chapter 11, which includes a merger with U.S. Airways Group Inc. (NYSE: LCC). The same judge declined to put his stamp of approval on a $19.9…
Do Troubled Companies Have an Obligation to Issue Warnings?
ThinkstockThe issue of early warnings from companies that know their quarterly earnings are poor may be more an ethical than a legal one. The guess that is so is based on the number of public corporations that keep this…
What’s Important in the Financial World (3/28/2013)
ThinkstockCyprus Set to Reopen Banks Cyprus will open its banks, which have been shuttered for days as the nation set a deal with the European Union, European Central Bank and International Monetary Fund for…
Media Digest (3/28/2013) Reuters, WSJ, FT
ThinkstockRoyal Dutch Shell PLC (NYSE: RDS-A) must face an investigation over its drilling activities in Alaska. (Reuters) Chesapeake Energy Corp.’s (NYSE: CHK) CEO search will go beyond a deadline set for the end of…
Will J.C. Penney Management Tell How Bad the First Quarter Is?
courtesy J.C. Penney Co. Inc.J.C. Penney Co. Inc. (NYSE: JCP) dove close to another 52-week low as any confidence that the market had in CEO Ron Johnson is now gone if it ever returned…
J.C. Penney Tinkers With Pricing — Again
courtesy J.C. Penney Co. Inc.J.C. Penney Co. Inc.’s (NYSE: JCP) CEO Ron Johnson is either lowering prices on much of the troubled retailer’s store inventory or raising those prices instead. Most analysts believe neither…
New T-Mobile Offerings Could Face Headwinds
courtesy of Apple Inc.T-Mobile began to offer its “no contract” phone plan and said it will sell the Apple Inc. (NASDAQ: AAPL) iPhone 5 starting next month. A debate has begun about whether the…
Walmart Comes Clean About the Costs of Bribery Investigations
courtesy of Wal-Mart Stores Inc.Wal-Mart Stores Inc. (NYSE: WMT) owned up to the fact that investigations into bribery allegations, particularly in Mexico, could cost it a great deal of money. In its 10-K, the…
What Is Important in the Financial World (3/27/2013)
Brian Solis, via Wikimedia CommonsJ.C. Penney Flip-Flop J.C. Penney Co. Inc.’s (NYSE: JCP) CEO Ron Johnson is either lowering prices on much of the troubled retailer’s store inventory or raising those prices instead. Most…
China and U.S. GDP and the Price of Gas
ThinkstockThe price of gasoline in China has been one way the central government has regulated the effects of fuel on both businesses and individuals. In theory, this sort of system can keep increases in…
Houston Leads Top Five Cities in Job Creation, as Riverside, Calif., Lags
Ed Brown, via Wikimedia CommonsAll job creation is local, which makes national unemployment numbers flawed as a measure overall economic activity. Nothing shows this better than recent data on job creation by city, although…
Cadillac Quality Problems
courtesy of General MotorsThe Wall Street Journal ran an article in which executives from General Motors Co.’s (NYSE: GM) Cadillac boasted that their sales in the United State would pick up enough to take…
Media Digest (3/27/2013) Reuters, WSJ, NY Times, FT
courtesy of NetflixA Fed study says China growth will slow in 2030. (Reuters) Citigroup Inc. (NYSE: C) may cuts its cash position to $35 billion to redeem expensive debt. (Reuters) Battery problems with the…
Hopes Dwindle for Eurozone Economic Recovery
ThinkstockStandard & Poor’s has put another nail in the coffin of the prospects of a recovery of the eurozone. The rating agency says it expects the region’s gross domestic product to shrink this year…
Big Cypriot Bank Depositors Should Brace for Big Losses
ThinkstockCyprus’s Finance Minister Michael Sarris told the BBC that large depositors with money in the nation’s banks could lose up to 40% in taxes and levies, much more than has been assumed recently. The…