Bank Of America Will Test New Foreclosure Practice–
WSJ reports that Bank of America will take a new approach to handling mortgages which are about to go into foreclosure. The first test will be small. It is not certain whether the plan…
All Work
Douglas A. McIntyre
America’s Most Corrupt States
Earlier this week, the Center for Public Integrity released a report detailing the risk of corruption and lack of accountability in all 50 states. The findings of the report should worry anyone who believes…
AP Hires Worst CEO in Newspaper Industry
The Associated Press hired the worst CEO in the newspaper industry as its 13th chief executive. Its board of directors should be ashamed, as should anyone who works at the news company. Gary Pruitt, the…
China’s Recession Begins
The recession in China has begun. Normally a recession would be marked by two quarters of GDP contraction. The Chinese economy needs a momentum of much more than that to retain growth of its middle…
One More Car Company’s Risky Bet on China
One more foreign car company will take the chance that the Chinese auto market, the world’s largest, will continue to expand. But car sales have not grown in the past year, and signs indicate they will not…
What’s Important in the Financial World (3/22/2012) Airline Trouble, Europe Economy Shrinks
The CEO of McDonald’s (NYSE: MCD), Jim Skinner, will retire at mid-year. No matter what critics have to say about the danger of fast food and marketing it to children, Skinner has presided over…
Media Digest (3/22/2012) Reuters, WSJ, NYT, FT, Bloomberg
Goldman Sachs (NYSE: GS) tries to end a legal case concerning fraud in its CDO sales. (Reuters) China’s factory activity slows, as evidenced by the HSBC flash PMI of 48.1, a low reading. (Reuters) A Brazilian court brings…
Emirates Warns On Global Airline Failures
AMRThe International Air Transport Association released figures recently that show it expects profits among its member airlines and air cargo carriers to fall precipitously this year compared to its previous forecasts. That is for the most part, the association says, to rising…
Apple Continues To Rise
Reports regarding over-heating of the new iPad and potentially huge data charges have not dampened demand for Apple’s stock. Since the news about these two “problems”, shares have moved from a low of $590 on Monday to a…
Europe’s Recession
nationsonline.orgEurope continues its fall into a new recession. Research firm Markit reported about March. This morning it announced: The Markit Eurozone PMI Composite Output Index fell from 49.3 in February to a three-month low…
No Let-Up In Gas Price Increases
Yesterday, gas prices moved higher for another day, the AAA Fuel Gauge report showed. The cost of a gallon of regular reached $3.881, up from $3.864 the day before and $3.570 one month ago. Among many of…
McDonald’s CEO Retires
Jim Skinner, the chief executive of McDonald’s (NYSE: MCD) announced he will retire this summer. Critics have to attacked him about the danger of fast food and marketing it to children. But, Skinner has run McDonald’s during one of…
Starbucks To Challenge Red Bull In Super-Caffeine Drinks
Will the diversification of Starbucks (NASDAQ: SBUX) ever end? It has entered the instant coffee arena with its Via brand. It sells fruit smoothies. It has begun to open its own Evolution Fresh juice bars.…
Diamond Foods May Get New Investors–WSJ
Troubled Diamond Foods, rocked by accounting scandals that cost its former CEO and CFO their jobs, may have found a minority investors. Shares surged on the news, and then were halted. According to The…
Home Market Finds Foundation
Flickr, Images of MoneyThe theory that the housing market has bottomed and may be at the start of a tentative recovery was supported by data release by the NAR. February numbers were the best…
Cities Where People Can’t Afford Their Rent
The homeownership rate dropped to 66% of all households in the fourth quarter of 2011 — the lowest rate in over a decade. Since the recession began, growth of renter households has consistently outpaced…
Saudi Action Does Not Lower Crude Prices
Saudi Oil Minister Ali al-Naimi told Reuters that there is no shortage of oil supply globally and that his nation could raise output by 12.5 million barrels a day. The leader of the largest oil…
Airline Industry Gives Up on Profits
The International Air Transport Association, the airline industry’s large association, has nearly given up on the chance that the industry will make any money this year. The organization expects that, globally, airlines will make…
America Raises a Nation of Idiots
Two unrelated reports came out recently. One, from the Council on Foreign Relations, said American children in grades K – 12 are not well educated enough to compete with youngsters from many other nations.…
What’s Important in the Financial World (3/21/2012) Hot Apple iPad, Japan’s Oil Imports
The new Apple (NASDAQ: AAPL) iPad is not the perfect product it is supposed to be, despite sales of three million units in four days. Consumer Reports says that, under certain conditions, the tablet runs…