Latest Articles: Business
OPEC sees oil prices exploding to $200 a barrel
Post Date: 2015-02-04 09:45:48 by Willie Green
Right now the oil market is totally focused on finding a bottom for oil prices. However, according to OPEC's Secretary-General Abdulla al-Badri we've already hit bottom. Not only that, but he sees a real possibility that oil prices could explode higher to upwards of $200 per barrel in the future. He's far from the only one that sees a return of triple-digit oil prices.Finding a bottomAccording to the Secretary-General, speaking in London on Jan. 26, the oil market doesn't need to look for oil prices to bottom as the market has already bottomed. Instead, he offered quite bullish comments by saying, "Now the prices are around $45-$55, and I think maybe they [have] reached ...
10 Super Bowl Ads That Everyone Will Be Talking About
Post Date: 2015-02-01 06:27:20 by Otter
10 Super Bowl Ads That Everyone Will Be Talking About It's almost show time. When the Super Bowl kicks off on Sunday, 40-plus advertisers will be hoping to win over the more than 110 million viewers tuning in. After paying $4.5 million for a 30-second spot, advertisers are hoping to have the ad everyone will be talking about Monday morning. >>Read More Trending Stories Here are 10 Super Bowl ads to watch out for: BUDWEISER "LOST DOG" Brewer Anheuser-Busch's 60-second ad shows a Labrador puppy chasing after the iconic Budweiser Clydesdales that are being moved to a new stable. The tune, "I'm Gonna Be (500 Miles)," performed by Sleeping performs in ...
Toyota, Chrysler, Honda vehicles in massive recall for faulty air bags
Post Date: 2015-01-31 15:23:34 by Otter
CBS/APJanuary 31, 2015, 11:31 AM Toyota, Chrysler, Honda vehicles in massive recall for faulty air bags Last Updated Jan 31, 2015 2:12 PM EST NEW YORK -- More than 2 million Toyota, Chrysler and Honda vehicles are being recalled for a second fix for faulty air bags that may inadvertently inflate while the car is running. The recall includes some Acura MDX, Dodge Viper, Jeep Grand Cherokee, Honda Odyssey, Pontiac Vibe, Toyota Corolla and Toyota Avalon models made from 2002 to 2004. The National Highway Traffic Safety Administration says all of the vehicles covered in Saturday's announcement had already been under a recall for the faulty air bags, but the carmakers' original ...
Comcast Renames Man ‘Asshole Brown’ After He Tries to Cancel Cable
Post Date: 2015-01-29 11:26:27 by Willie Green
Comcast probably doesnt relish being one of those companies that many Americans love to hate. But sometimes, the cable giant makes this way too easy. Consider the case of Ricardo Brown. After Browns wife had a disagreement with the cable company recently, Comcast started sending him monthly statements under the name Asshole Brown. The disagreement happened when Browns wife Lisa tried to cancel her cable. She got referred to one of the companys dreaded retention specialists, who apparently didnt like being told no, as Lisa Brown told the blogger Christopher Elliott, who first reported the story. I was never rude, ...
Kentucky counties make unprecedented push for right-to-work laws
Post Date: 2015-01-24 11:43:26 by Gatlin
Local governments in Kentucky are taking matters into their own hands in a bid to battle union influence and, they say, make their communities more business- friendly. Kentucky is one of the last states in the South that does not have a so-called right-to-work law, which bar unions from forcing workers to pay dues. But surrounding states like Tennessee do -- and counties along Kentuckys southern border say they're tired of losing jobs to other southern states. So, in an unprecedented step, county leaders are passing their own right-to- work laws, even as the Democrat-controlled House of Representatives in the state capital refuses to consider one. "We are not growing as ...
The sound of your car’s engine might just be a lie
Post Date: 2015-01-24 08:30:28 by Willie Green
Arguably, one of the best parts about driving a car is putting your foot on the gas and hearing that engine purr ever so sweetly. Well, that rumble may be gone forever or at least replaced with a shallow, mechanical one. Thats right, if youve bought a car within the last few years, chances are youre not actually hearing your engine growl, but instead a recording of it. The Washington Post broke the secret earlier this week, reporting that the noise coming from under the hood of some of your favorite cars, such as the Ford Mustang or Volkswagen Beetle, is not the actual engine but a synthetic recording of what its supposed to sound like. Auto manufacturers ...
Profiting from Cheating
Post Date: 2015-01-22 06:53:28 by Willie Green
Even In The Tinder Era, Adultery Site Ashley Madison Keeps Making Money Hand Over Fist Noel Biderman will usually lie if a passenger on an airplane asks him what he does for a living. Hell say hes a lawyer, which is true. Biderman is also a successful entrepreneur who earns more than $5 million a year, but just uttering his firms name is enough to halt the niceties. Biderman is the cofounder and CEO of Ashley Madison, a website that facilitates extramarital romance and sex. There are times that I have told people, and thats the end of the conversation. All the attention and money that dating apps like Tinder are attracting has drawn Biderman into opening ...
The GOP beats up on cripples
Post Date: 2015-01-20 09:57:48 by Willie Green
Republicans target Social Security disability They say new limits will force Congress to fix the ailing program. Liberals see a ploy to weaken all of Social Security. Like Mrs. OLearys cow, House Republicans kick-started a bigger fire than many imagined with an opening day rules change that revived Social Security as a hot issue for this Congress and the 2016 presidential elections. The GOPs immediate target is Social Securitys sprawling disability insurance program, which has grown at a pace far beyond its revenues and will exhaust its trust fund reserves by December 2016, threatening a 19 percent cut in benefits. In the past, Congress has simply shifted ...
Half global wealth held by the 1%
Post Date: 2015-01-18 20:04:50 by cranky
The Swiss ski resort of Davos, home to the annual meeting of the World Economic Forum. Billionaires and politicians gathering in Switzerland this week will come under pressure to tackle rising inequality after a study found that on current trends by next year, 1% of the worlds population will own more wealth than the other 99%. Ahead of this weeks annual meeting of the World Economic Forum in the ski resort of Davos, the anti-poverty charity Oxfam said it would use its high-profile role at the gathering to demand urgent action to narrow the gap between rich and poor. The charitys research, published today, shows that the share of the worlds wealth ...
ECONOMIC DEATH SPIRAL: MORE AMERICAN BUSINESSES DYING THAN STARTING
Post Date: 2015-01-16 04:38:14 by out damned spot
In a stunning Tuesday report, Gallup CEO and Chairman Jim Clifton revealed that for the first time in 35 years, American business deaths now outnumber business births. Clifton says for the past six years since 2008, employer business startups have fallen below the business failure rate, spurring what he calls an underground earthquake that only stands to worsen as lagging U.S. Census data becomes available. Lets get one thing clear: This economy is never truly coming back unless we reverse the birth and death trends of American businesses, writes Clifton. Indeed, the numbers are striking. Contrary to the oft-cited 26 million businesses in ...
U.S. jobless claims rise to four-month high
Post Date: 2015-01-15 21:48:27 by yukon
U.S. jobless claims rise to four-month high WASHINGTON Thu Jan 15, 2015 8:56am EST (Reuters) - The number of Americans filing new claims for unemployment benefits last week increased to the highest level since early September, but the underlying trend continued to point to a strengthening labor market. Initial claims for state unemployment benefits rose by 19,000 to a seasonally adjusted 316,000 for the week ended Jan.10, the Labor Department said on Thursday. Economists polled by Reuters had forecast claims falling to 291,000 last week. The prior week's data was revised to show 3,000 more claims received than previously reported. The four-week moving average of claims, ...
Oil Prices Plunged—Why Haven't Airfares and Some Home Energy Bills?
Post Date: 2015-01-15 13:40:32 by Willie Green
Low energy prices won't necessarily reduce prices for certain consumers Now that the price of crude oil has sunk to a six-year low, gasoline is much cheaper, but airfares and some home energy bills still seem head-scratchingly high. Why isn't everyone seeing relief? The cost of jet fuel, for example, has fallen a whopping 43 percent on average worldwide from the price a year ago. Don't rush just yet, though, to book that flight to Fiji. Airfares have barely budged, and in places such as the U.S. Northeast and the United Kingdom, home bills for electricity and heat are as high as ever. The stubborn prices are prompting stern words from politicians. "It is curious and ...
New H-1B bill will 'help destroy' U.S. tech workforce
Post Date: 2015-01-14 21:00:49 by Willie Green
Measure could accelerate offshoring of U.S. jobs, critics argue New legislation being pushed by Sen. Orrin Hatch (R-Utah) to hike the H-1B visa cap is drawing criticism and warnings that it will lead to an increase in offshoring of tech jobs. IEEE-USA said the legislation, introduced by a bipartisan group of lawmakers on Tuesday, will "help destroy" the U.S. tech workforce with guest workers. Other critics, including Ron Hira, a professor of public policy at Howard University and a leading researcher on the issue, said the bill gives the tech industry "a huge increase in the supply of lower-cost foreign guest workers so they can undercut and replace American workers." ...
Obama backs wider access to fast Internet
Post Date: 2015-01-14 20:44:36 by Willie Green
CEDAR FALLS, Iowa Wading into a states rights dispute over Internet access, President Obama called Wednesday for the repeal of laws that prevent communities from creating their own broadband networks. Obama, for the second time in three months, cast himself as an antagonist to large cable and telephone companies that provide the bulk of the nations Internet service. Obama said faster speeds would create jobs and allow local businesses to compete in the global economy. Today high-speed broadband is not a luxury, its a necessity, Obama said from a storage area at Cedar Falls Utilities, with shelves full of coiled wire and other equipment. Obama is ...
Indiana’s Toll Road Goes Bankrupt
Post Date: 2014-10-24 09:43:19 by nativist nationalist
In 2006, the ITR Commission Co. purchased the right to operate a toll road in Indiana for 75 years for the cost of $3.8 billion. That investment that hasnt worked out as planned, as ITR filed for Chapter 11 bankruptcy protection on September 21. They now have $6 billion in debt they are seeking to restructure. The reason for ITRs financial distress is simple: there isnt as much traffic as they predicted. In fact, traffic is falling short of projections all over the country, an indication both of shifting social patterns and of the engineering professions institutionalized propensity to overestimate. With relatively fixed costs for maintenance, repairs, and ...
Dan DiMicco's solution for what ails U.S. economy? Manufacturing
Post Date: 2014-10-22 23:46:26 by nativist nationalist
Forget the idea that the U.S. economy is chugging along in a respectable recovery after the Great Recession, says Dan DiMicco, former CEO of steel manufacturer Nucor Corp. And the 5.9 percent unemployment rate the Bureau of Labor Statistics reported for September? Forget that, too, he says. The real unemployment rate is the 16.1 percent, which includes those working part time but who would rather be working full time. You also have to consider those who have given up looking for work and those who have been fired or have quit since the last counting, DiMicco says. The labor statistics folks call it the U6, which also measures the "marginally attached" who aren't counted in ...
Scary 1929 Market Chart Gains Traction
Post Date: 2014-02-11 17:13:01 by Brian S
CHAPEL HILL, N.C. (MarketWatch) There are eerie parallels between the stock markets recent behavior and how it behaved right before the 1929 crash. That at least is the conclusion reached by a frightening chart that has been making the rounds on Wall Street. The chart superimposes the markets recent performance on top of a plot of its gyrations in 1928 and 1929. The picture isnt pretty. And its not as easy as you might think to wriggle out from underneath the bearish significance of this chart. I should know, because I quoted a number of this charts skeptics in a column I wrote in early December. Yet the market over the last two months has continued ...
No Mr. Buchanan, Corporate Profits Are NOT The Problem
Post Date: 2014-01-31 22:43:36 by jwpegler
Yesterday, Pat Buchanan wrote article stating that corporations pursuing profits during the first Bush Administration (1989-1992) was the root cause of the economic woes that middle America is facing today. This is a pitifully shallow analysis. After WWII, half of the world was in ruins and much of the other half descended into communism. The U.S. stood virtually alone as the only real credible economy in world. So, during the 1940's and 1950's, 50% of all manufactured goods in the world came from the U.S., even though we only had about 5% of the world's population. But, the world wasn't standing still. The Germans started to get back into the game in the 1960's, as ...
Gold Declines on Way to Worst Year Since 1981 as Silver Drops
Post Date: 2013-12-30 18:32:18 by Brian S
Gold fell for the first time in four sessions in New York, set for its biggest annual loss in three decades, as an improving economy cut demand for a protection of wealth. Silver futures also retreated. Bullion slid to $1,186 an ounce on Dec. 19, near this years low set in June, before rebounding to a one-week high of $1,218.90 on Dec. 27. Global equities traded near the highest since 2007 before reports this week that may show gains in U.S. housing and manufacturing. Were seeing improving economies with little or no inflation, Frank McGhee, the head dealer at Integrated Brokerage Services in Chicago, said in a telephone interview. The fear has been stripped ...
'Successful' Auto Bailout Of GM, Chrysler Saved Millions Of Jobs, $284B In Personal Income
Post Date: 2013-12-09 15:49:33 by Brian S
DETROIT, MI- The U.S. government's $85 billion bailout of General Motors Co. and Chrysler Group LLC was more successful than many first anticipated, according to a new study released today. The Center for Automotive Research study -- called ''The Effect on the U.S. Economy of the Successful Restructuring of General Motors'' -- found that the controversial 2008- 2009 bailout, saved 2.6 million jobs in 2009 alone and $284.4 billion in personal income was preserved over 2009-2010. CAR concluded that if the U.S. government had refused to assist GM and Chrysler in their financial crisis of "unprecedented proportions," then the whole U.S. economy would ...
Job-Creation Weakens, But Unemployment Rate Down
Post Date: 2013-10-22 13:56:13 by Brian S
September saw the U.S. economy add just 148,000 jobs, significantly worse than expected, according to a report delayed more than two weeks by the government shutdown. The unemployment rate unexpectedly fell to 7.2 percent, the lowest since November 2008, as the labor-force participation rate held near 35-year lows, according to the Bureau of Labor Statistics. Private payroll creation stood at just 122,000, with state and local governments adding 28,000 positions and the federal government cutting by 6,000. (Read more: More young peopleare out of school...and out of work) Economists had been expecting 180,000 new positions and a steady jobless rate. "This kind of report adds to the ...
The Proper Role of Government in Science and Technology
Post Date: 2013-08-20 20:23:23 by jwpegler
America's economic might has always rested on our ability to innovate. The cotton gin, light bulb, air plane, assembly line, microprocessor, internet, e-commerce... America has thrived because our system supported an environment of both technological and business innovation. For the last several decades, there has been a lot of debate in this country about the proper role of government in science and technology. The debate crosses ideological lines. For the purposes of our discussion, let's define three terms: 1.) Basic research focuses on creating and testing fundamental theories. 2.) Applied research examines those fundamental theories in the context of a specific set of ...
Home Prices Climb in 87% of U.S. Cities Amid Recovery
Post Date: 2013-08-08 17:15:36 by Brian S
Prices for single-family homes climbed in 87 percent of U.S. cities in the second quarter as the national housing recovery accelerated amid competition for a limited number of properties on the market. The median transaction price rose from a year earlier in 142 of 163 metropolitan areas measured, the National Association of Realtors said in a report today. A year earlier, 75 percent of regions had gains. Values are increasing as homebuyers, encouraged by improving employment, compete for a tight supply of listed properties. At the end of the second quarter, 2.19 million previously owned homes were available for sale, 7.6 percent fewer than a year earlier, according to the Realtors group. ...
Services in U.S. Expand at Fastest Pace in Five Months
Post Date: 2013-08-05 11:06:02 by Brian S
Service industries in the U.S. expanded in July at the fastest pace in five months, a sign the worlds biggest economy will improve after slowing the last three quarters. The Institute for Supply Managements non-manufacturing index increased to 56, exceeding all forecasts in a Bloomberg survey, from a more than three-year low of 52.2 in June, a report from the Tempe, Arizona-based group showed today. The median estimate called for a gain to 53.1. Readings higher than 50 indicate growth in the industries that make up almost 90 percent of the economy. The figures follow the groups report last week that showed manufacturing advanced at the fastest rate in more than two ...
Payrolls in U.S. Rose 162,000 in July as Unemployment Rate Fell to 7.4%
Post Date: 2013-08-02 11:07:27 by Brian S
Employers added fewer workers than anticipated in July and the U.S. jobless rate dropped to 7.4 percent, indicating uneven progress in the labor market. The 162,000 increase in payrolls last month was the smallest in four months and followed a revised 188,000 rise in June that was less than initially estimated, Labor Department figures showed today in Washington. The median forecast of 93 economists surveyed by Bloomberg called for a 185,000 gain. Workers spent fewer hours on the job and hourly earnings fell for the first time since October. The slower pace of hiring suggests some employers are confident theyre able to meet demand with current staffing levels as the economy begins ...
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