Archive for the 'Economy' Category
Another Deficit Record Set in February
March 11th, 2010Via: AP: The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year’s record for the full year. The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set in February of last […]
Airlines Will Cancel Flights to Avoid Risk of Fines for Delays
March 10th, 2010Didn’t think air travel in the U.S. could suck any more than it already does? Behold… Via: MSNBC: Passengers may soon be seeing more cancellations on airport departure boards. Several airlines, including Fort Worth-based American and Houston-based Continental, say they will cancel flights rather than risk paying stiff penalties for delaying passengers on the runway. […]
Britian: Fake Storefronts Soothe Consumers During Recession
March 10th, 2010Via: BBC: Fake businesses are to be used to lessen the impact of the recession on high streets in North Tyneside. With 140 empty shops in the borough, council bosses think they have come up with a unique way of ensuring shopping areas remain as vibrant as possible. The first empty shop unit to be […]
Apple’s Secret iPhone Developer Agreement Goes Public
March 10th, 2010Via: Wired: The first rule of the iPhone developer program is: You do not talk about the iPhone developer program. Before you create software for the iPhone, Apple demands that you sign away a laundry list of rights, including the ability to sell rejected apps through other channels, the ability to sue Apple for more […]
Study Finds Median Wealth for Single Black Women at $5 (Yes, Five Dollars)
March 10th, 2010That’s the good news. See the last sentence of the excerpt below. Via: Post Gazette: Women of all races bring home less income and own fewer assets, on average, than men of the same race, but for single black women the disparities are so overwhelmingly great that even in their prime working years their median […]
The World’s Most Expensive Military Cemetery
March 9th, 2010I don’t think much about what could have been, but it’s hard not to when looking at this abomination. Via: Telegraph: The world’s most expensive military cemetery, a £22.6 billion centre dubbed “The Boneyard”, has been pictured in a spectacular series of new high-resolution Google Earth satellite images. The 2,600 acre facility, officially known Davis-Monthan […]
A EUROPEAN IMF?!
March 9th, 2010Via: BBC: The European Commission has confirmed that it may set up a version of the International Monetary Fund to bolster the eurozone’s financial stability. Germany and France are leading the move, part of a series of initiatives aimed at avoiding a repeat of the sort of financial crisis engulfing Greece. The German Chancellor Angela […]
Australia: Standard & Poor’s Faces Lawsuit Over Bogus Ratings
March 9th, 2010Via: The Age: THE credibility of ratings agency Standard & Poor’s has come under legal attack in a $40 million action by a local government superannuation investor over a AAA-rated debt investment that subsequently turned toxic in the financial crisis. S&P has been challenged to defend the rating it subscribed to ”constant proportion debt obligation” […]
60 Years of Drug Trafficking at the Venice Municipal Airport
March 8th, 2010Via: Mad Cow Productions: An investigation into suspicious circumstances surrounding the sale of the former Huffman Aviation has unearthed an explosive secret at the heart of an otherwise unremarkable aviation facility. Almost since its inception, the specter of heroin trafficking has hung over the airfield which would later become the Venice Municipal Airport. During World […]
Reduce Postal Service Deliveries to Three Days Per Week?
March 8th, 2010Via: Bloomberg: The U.S. Postal Service, facing a $238 billion budget deficit by 2020, should consider cutting delivery to as few as three days a week as the agency attempts to pare costs, a consulting firm said. Those cuts are among changes McKinsey & Co. presented in a report this week at a postal conference […]
