Archive for October, 2009
Detroit Attempts to Auction 9,000 Properties for as Little as $500; 80% Had No Bids
October 26th, 2009Via: Reuters: In a crowded ballroom next to a bankrupt casino, what remains of the Detroit property market was being picked over by speculators and mostly discarded. After five hours of calling out a drumbeat of “no bid” for properties listed in an auction book as thick as a city phone directory, the energy of […]
Capmark Files for Bankruptcy With $21 Billion in Debt
October 26th, 2009Via: Bloomberg: Capmark Financial Group Inc., the lender owned by companies including Goldman Sachs Group Inc. and KKR & Co., filed for bankruptcy protection after posting a second-quarter loss of about $1.6 billion. The company listed consolidated debt of $21 billion and consolidated assets of $20.1 billion as of June 30, according to Chapter 11 […]
Bearish Divergence on Gold
October 26th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Please see Dollar Rally Setting Up for more context and Gold Pullback; Short Term Fibonacci Retracement Levels for initial downside targets.
Jeffry Picower, Madoff Investor, Found Dead at Home
October 26th, 2009For the first time, I’m preemptively adding a story, this story, to the Assassination category. —The Desperate Final Hours of the World’s Biggest Ever Financial Fraud Six readers submitted this one. Thanks. Via: Bloomberg: Jeffry Picower, the philanthropist alleged to have withdrawn more than $7.2 billion from Bernard Madoff’s investment company, was found dead today […]
Indiana: 500 Applicants for One $13 Per Hour Job Before Company Pulled Ad
October 25th, 2009Via: New York Times: As soon as the job opening was posted on the afternoon of Friday, July 10, the deluge began. C.R. England, a nationwide trucking company, needed an administrative assistant for its bustling driver training school here. Responsibilities included data entry, assembling paperwork and making copies. It was a bona-fide opening at a […]
Strategy to Survive Winter in Alaska Without Any Money? “Rob” a Bank, Sit in Lobby, Wait for Cops to Arrest You, Keep You Warm and Feed You
October 25th, 2009Via: Anchorage Daily News: Timmy Lee Porter walked into a Midtown bank this month and handed a teller a note scribbled on the back of a bank slip. “This is a bank robbery, place 1 100.00 bill on the counter or I will shoot you.” Police arriving on the scene moments later found that note […]
Baghdad Blast Toll Passes 130
October 25th, 2009Via: BBC: At least 132 people have been killed and 520 injured in two car bomb attacks in Baghdad, Iraqi officials say. The blasts hit the ministry of justice and a provincial government office near the heavily fortified Green Zone. They came in quick succession at 1030 (0730 GMT) as people headed to work during […]
Israeli Police Storm Jerusalem’s Holiest Site
October 25th, 2009Via: AP: Israeli forces stormed Jerusalem’s holiest shrine Sunday, firing stun grenades to disperse hundreds of stone-throwing Palestinian protesters in a fresh eruption of violence at the most volatile spot in the country. A wall of Israeli riot police behind plexiglass shields closed in on the crowd, sending many protesters — overwhelmingly young men — […]
Obama Declares Swine Flu a National Emergency
October 25th, 2009Via: Reuters: U.S. President Barack Obama has declared 2009 H1N1 swine flu a national emergency, the White House said on Saturday. The declaration will make it easier for U.S. medical facilities to handle a surge in flu patients by allowing the waiver of some requirements of Medicare, Medicaid and other federal health insurance programs as […]
Disney’s Neuroscience/Advertising Lab
October 24th, 2009Via: New York Times: A technician in a black lab coat gazed at the short, middle-aged man seated inside the Walt Disney Company’s secretive new research facility here last week, his face shrouded with eye-tracking goggles. Read ESPN.com on that BlackBerry, she told him soothingly, like a nurse about to draw blood. “And have fun,” […]
