Archive for the 'Economy' Category
California 7-Eleven Store Received Over 100 Applicants for Position That Pays $8.50 Per Hour
November 13th, 2008Grim. Via: AP: The odds of landing a part-time job at department store operator Bealls Outlet Stores Inc. this holiday season are slimmer than getting into Harvard: It’s one out of every 45. Don’t think the chances are any better at 7-Eleven. One California store received more than 100 applicants in a week and a […]
Obama’s Bailout Bunch Brings Us More of the Same
November 13th, 2008Via: Bloomberg: It’s hard to believe Barack Obama would even think of calling this change. Take a good look at some of the 17 people our nation’s president-elect chose last week for his Transition Economic Advisory Board. And then try saying with a straight face that these are the leaders who should be advising him […]
Dow Jones Industrial Average Facing Make or Break Situation
November 13th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The Dow is facing a strategic price level at around 8200. Right up front, I want to state that I have no idea which way it’s going to break. What I can say, though, is that a violent move is probably […]
NOW U.S. WON’T BUY TOXIC WASTE LOANS
November 12th, 2008I’m confused. Could this have something to do with “Bretton Woods 2” in a few days? Via: Reuters: U.S. Treasury Secretary Henry Paulson on Wednesday said he was backing away from buying troubled mortgage assets using a $700 billion bailout fund, instead favoring a second round of capital injections into financial institutions that would match […]
American Express Seeking Taxpayer Bailout
November 12th, 2008Don’t leave home without it. Via: AP: American Express Co. is seeking $3.5 billion in funds under the government’s plan to directly invest in financial firms, according to a Wednesday report in The Wall Street Journal citing unnamed sources. Earlier this week, American Express received approval from the Federal Reserve to become a bank holding […]
“Families Hemorrhaging Into Homelessness”
November 12th, 2008Via: Reuters: Families are flooding homeless shelters across the United States in numbers not seen for years, camping out in motels or staying with friends and relatives, homeless advocates say. “There are lots of families hemorrhaging into homelessness and we need to figure out how to put a tourniquet on the hemorrhaging,” Philip Mangano, the […]
Citigroup Freezes U.S. Home Repossessions
November 12th, 2008In other words, Citigroup doesn’t want to have to pay property taxes and HOA fees on any more properties that will just wind up being vandalized, looted or worse. If you’re one of these upside buyers, be very careful when considering any offer that these bastards present to you. It may not feel like it, […]
U.S. MAY LOSE IT’S ‘AAA’ RATING
November 12th, 2008Can you hear me now? Via: CNBC: The United States may be on course to lose its ‘AAA’ rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche. “The U.S. might really have to look at a default on the bankruptcy reorganization of […]
Starbucks Net Income Fell 96 Percent
November 11th, 2008Crappy result. Crappy coffee. Points for consistency? Via: Bloomberg: Starbucks Corp., the world’s largest chain of coffee shops, reported fourth-quarter profit that fell more than analysts estimated after customer visits declined for the fifth consecutive quarter. Starbucks fell 2.9 percent in late Nasdaq trading after saying 2009 earnings per share may be as low as […]
As World Demand Falls, Prices for Recyclables Go in Dumper
November 11th, 2008Even the salvage economy is going down. Via: Sacramento Bee: A sudden collapse in worldwide demand for re-cyclables, particularly from China, has scrap dealers from Sacramento to San Diego stockpiling curbside collections as never before and charging walk-in customers for their throwaways. Stacks of baled paper, plastic and metal are mounting at the Sacramento Recycling […]
