Archive for May, 2010
BP Oil-Collection Chamber Clogs, Removed From Leaking Gulf Well
May 9th, 2010Via: Bloomberg: BP Plc’s latest effort to prevent oil leaks from damaging wildlife and tourism on the U.S. coast are being stymied as cold and pressure a mile below the surface of the Gulf of Mexico formed ice that clogged a containment device. The device, a 40-foot-tall steel chamber BP hoped would capture the gushing […]
EU Finance Chiefs Race to Ready Euro Stability Fund for Monday Morning
May 9th, 2010Via: Bloomberg: European Union finance ministers meet today to hammer out the details of an emergency fund to prevent a sovereign debt crisis from shattering confidence in the 11- year-old euro. Jolted into action by last week’s slide in the currency to the lowest in 14 months and soaring bond yields in Portugal and Spain, […]
KBR to Get No-Bid Army Contract Worth $568 Million as Justice Department Pursues Lawsuit Over Kickbacks
May 9th, 2010Via: Bloomberg: KBR Inc. was selected for a no-bid contract worth as much as $568 million through 2011 for military support services in Iraq, the Army said. The Army announced its decision yesterday only hours after the Justice Department said it will pursue a lawsuit accusing the Houston-based company of taking kickbacks from two subcontractors […]
U.S. Debt Shock May Hit As Soon As 2013
May 9th, 2010Via: Investor’s Business Daily: Spiraling debt is Uncle Sam’s shock collar, and its jolt may await like an invisible pet fence. “Nobody knows when you bump up against the limit, but you know when it happens it will really hurt,” said fiscal watchdog Maya MacGuineas of the Committee for a Responsible Federal Budget. The great […]
Connecticut Growing Gardens at Prisons to Cut Food Costs
May 9th, 2010While Connecticut’s decision to have prisoners grow some portion of their own food is a positive development for several reasons (the health of the prisoners being the main one), let’s make sure that we’re seeing the big picture and understand that the prison industrial complex is just about the most diabolical aspect of the American […]
Kent State: New Audio Analysis Reveals That Someone Ordered National Guards Troops to Prepare to Fire on Students
May 9th, 2010Via: AP: A new analysis of a 40-year-old audio recording reveals that someone ordered National Guard troops to prepare to fire on students during a deadly Vietnam War protest at Kent State University in 1970, two forensics experts said. The recording was enhanced and evaluated by New Jersey-based audio experts Stuart Allen and Tom Owen […]
Tainted Nuclear Power Plant Water Reaches Major NJ Aquifer
May 8th, 2010Via: AP: Radioactive water that leaked from the nation’s oldest nuclear power plant has now reached a major underground aquifer that supplies drinking water to much of southern New Jersey, the state’s environmental chief said Friday. The state Department of Environmental Protection has ordered the Oyster Creek Nuclear Generating Station to halt the spread of […]
Bank Risk Soars to Record, Default Swaps Overtake Lehman Crisis
May 7th, 2010Via: Bloomberg: The cost of insuring against losses on European bank bonds soared to a record, surpassing levels triggered by the collapse of Lehman Brothers Holdings Inc., as the sovereign debt crisis deepened. The Markit iTraxx Financial Index of credit-default swaps on 25 banks and insurers soared as much as 40 basis points to 223, […]
MUST HEAR: Panic And Loathing From The S&P 500 Pits
May 7th, 2010Mirror for audio file. A “car” is one futures contract. A “handle” is a full point. Via: ZeroHedge: “Guys this is probably the craziest I have seen it down here ever.” Here it is, memorialized for the generations and away from the now openly ridiculous disinformation propaganda of the mainstream media, just what a full […]
SEC Said to Probe Causes, Exploitation of Stock-Market Turmoil
May 7th, 2010Maybe Captain Obvious dropped in at the SEC this morning. Via: Bloomberg: U.S. regulators plan to examine whether securities professionals triggered yesterday’s stock- market plunge or exploited the turmoil to profit illegally, two people with direct knowledge of the matter said. The Securities and Exchange Commission aims to determine if market participants accidentally or maliciously […]
