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Bankers' pay soars despite crisis
in Sox First, on June 22, 2009
... us now that the bankers are working out ways of getting around crimping bonuses in response to the bailout rules of the Troubled Asset Relief Program. Instead of bonuses, you just boost the base sala...
Banks fight to keep accounting tricks
in Sox First, on June 6, 2009
...rule change. They are also spending millions lobbying Congress. Not content with their $700 billion bailout, the banks want to keep investors in the dark. There's nothing US banks hate more than t...
Is manufacturing dead?
in Sox First, on June 3, 2009
...he observations in Robert Reich's blog on the future of manufacturing. Reich argues that the bailout of GM is just buying time. It won't create jobs and it won't save GM. Manufacturing ...
How To Install Windows 7 On Almost Any Netbook
in Wangtam, on May 18, 2009
...Saved: Ethical Repercussions Of A Newspaper Bailout
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Bankroll blues
in Sox First, on May 7, 2009
...worth of assets that created the meltdown were owned and financed by investment banks now receiving bailout money. Investment banks owning and financing subprime lenders included Merrill Lynch, JPMorg...
Big bonuses at imploding banks
in Sox First, on April 26, 2009
...heir bonuses are bigger than last year. That includes UBS which despite gettiong a Swiss government bailout is paying its "star" 15-20% more. Until the banks are sorted out, the financial c...
TARP fraud investigations
in Sox First, on April 21, 2009
...g entry looking at how the TARP cop Neil Barofsky bemoaning the lack of accountability for the bailout funds being put up by US taxpayers. Clearly, the system is open to fraud and now we have th...
Here we go again
in The CIO Weblog, on April 6, 2009
...ISun? SunBM?) this actually seemed like a good deal for both parties on the face of it; Sun needs a bailout, IBM could use some fresh faces (as is ever the case at IBM). IBM, however, can go out and b...
Bailout funds sink without a trace
in Sox First, on April 6, 2009
... I did a blog entry bemoaning the lack of oversight into the Troubled Asset Relief Program (TARP) bailouts. Some of the banks have not been able to say where the money has gone. Now, the US Public...
G20 and FASB: the banks win again
in Sox First, on April 3, 2009
...vestment community, and the regulators are worse off. The change in the accounting rules is another bailout for the bankers!" Is it any wonder, as ethicist Dov Seidman writes, that the real pr...
Bailouts total $3 trillion with no oversight
in Sox First, on April 2, 2009
...tor General for the Troubled Asset Relief Program Neil Barofsky there were $3 trillion worth of bailout programs, the equivalent of an entire agency or three just to stop the US financial system f...
Why Geithner's plan won't work
in Sox First, on March 23, 2009
So Timothy Geithner outlines his plan to save the US financial system this morning in The Wall Street Journal . in that piece, he unveils the Public Private Investment Program which will use US Treasury Capital and financing from the Federal Reserve, the Federal Deposit Insurance Corporation, a...
Are Visa Rules a Form of Protectionism? India Thinks So...
in Global Mobility Report, on March 22, 2009
...lus money. It's protectionism, say Indian critics, that Congress has banned companies receiving bailout money from hiring foreigners on H-1B visas. The problem is not just the H-1B visa. Many U.S....
The politics of AIG
in Sox First, on March 16, 2009
...
The political fallout from the AIG bailout will be massive. With $165 million in US taxpayers' money going to pay executive bonuses, the Obama administration is bailing itself for a backlash. ...
Norman: Take A Pay Cut
in Eagle Par Birdie, on February 28, 2009
...
And now we learn that Wells Fargo Bank , recipient of some 25 billion dollars in taxpayers' bailout money and the new owner of Wachovia Corporation is dropping the Wachovia name from the Cha...
Dubai bailout
in Sox First, on February 23, 2009
The meltdown from the credit crisis, combined with a 74% drop in oil prices, is hurting Dubai which has the world's tallest building, most expensive hotel suite and largest man made islands. Dubai borrowed $80 billion to turn itself into a regional financial and tourism hub and, according to...
GM and Chrysler's begging bowl
in Sox First, on February 18, 2009
...
And so the bailout continues. Last week, I did a blog entry looking at whether GM and Chrysler will go bust. Now the two companies are begging for more , with GM saying it could need as much as...
Will GM and Chrysler go bust?
in Sox First, on February 10, 2009
...
Irony of ironies. Will the bailout of US automakers lead to them going out of business? Will it send GM and Chryler bankrupt? That's the question now being raised. As Forbes points out, the...
TARP shortchanged taxpayers $78 billion
in Sox First, on February 7, 2009
...n a post last week, I talked about the total lack of transparency in the US Government's bank bailout package. The upshot is that it's likely to mean taxpayers' money is going down the d...
Ford May Sell Volvo To China
in Exclusive from our news room , on February 5, 2009
It's lose-lose everywhere for the Ford Motor Company these days. Ford sales are at their lowest in 27 years and the company is trying desperately to avoid having to ask for government bail out money.
Trying to sell off Volvo, one of the company's many bad investments, to the Chinese, is For...
Bank bailout failure
in Sox First, on February 3, 2009
...
If nothing else, the latest events are showing us that Bush's bank bailout strategy was a complete and absolute failure. First, we had the reports last week of four banks closing in January...
Bailout transparency problems continue
in Sox First, on January 31, 2009
The Financial Times reports that the Obama administration is expected to come out with a "big bang" announcement next week that will see a bank clean-up, measures to reduce home foreclosures and moves to to kick-start credit markets. The FT says the measures might include the purchas...
Wall Street bonus time, despite recession
in Sox First, on January 29, 2009
... bankers. Not one bit. The New York Times reports that despite all the losses and taxpayer-funded bailouts, financial companies in New York collected an estimated $18.4 billion in bonuses for the ye...
Gaps In the Schedule
in Eagle Par Birdie, on January 28, 2009
...es, sports writer, Steve Elling lambastes Chrysler Corporation for wasting taxpayers' money - bailout money, if you prefer - on the Bob Hope Chrysler Classic.
Except it wasn't called that t...
A Wall Street Bailout?
in Eagle Par Birdie, on January 22, 2009
Frank Thomas has taken on the USGA again in his weekly Frankly Golf e-newsletter.
A reader writes to ask Frank about the square groove rule change announced by the USGA last August.
The reader is dead certain that the USGA is manufacturing rule changes on equipment simply to line the pock...
US economy, Pearl Harbor and Barack Obama
in Sox First, on January 20, 2009
...t be some danger signals. Last week, the US Senate released the second portion of the $700 billion bailout fund but a vote of 52 to 42 suggests there could be future resistance to more bailouts and ...
Charities Given a Helping Hand
in The Hedge Funds Weblog, on January 7, 2009
...s; Nonprofits that are struggling because their donors lost money with Bernard Madoff are getting a bailout - but not from the government. Richer foundations are stepping in to help.
Human Rights Wat...
More bailouts on the way
in Sox First, on January 3, 2009
...ons in deep trouble. The nation's top number crunchers reckon they'll treat each potential bailout on a case by case basis, looking at such issues as how much the collapse would hurt creditor...
More handouts: who's next?
in Sox First, on January 2, 2009
...
Who the hell do these people think they are? Banks? Car makers? Bailout-mania is gathering momentum. Now the New York Times reports that the steel industry is lining up for its share, mostly in...
Toyota and Honda revising JIT methods to avoid future crisis problems
in Supplychainer, on January 1, 2009
...ercedes-Benz, BMW and Hyundai, among others.
"We continue contingency planning even after the bailout," Mike Goss, a spokesman for Toyota's North American manufacturing unit in Erlanger...
Corporate jets nosedive
in Sox First, on December 26, 2008
... market is still booming, reports Associated Press with financial firms that received billions in bailout dollars still owning and operating fleets. But, as the report says, some are starting to sca...
Automaker bailout: at what cost?
in Sox First, on December 19, 2008
...nt businesses." The other big concern is the signal this, combined with the $700 billion bank bailout, might send out to other dysfunctional industries. Like housing? Do they get bailouts too? ...
Goldman Sachs tax lurk
in Sox First, on December 17, 2008
...0.7 billion by selling $10 billion of equity to the US Government as part of its $700 billion banks bailout and the rest from investors including Warren Buffett's Berkshire Hathaway. That's mo...
Lou Dobbs, the Auto Bailout and Outsourcing (and Outsourcing Contracts)
in The Outsourcing Weblog, on December 13, 2008
...ry vocal about conditions to be placed on the automobile companies in the event that they receive a bailout. Chief among them is preconditioning the bailout money on such companies not outsourcing job...
Is there a bailout strategy?
in Sox First, on December 3, 2008
The automakers want more taxpayers' money. Now they're asking for $38 billion, not $25 billion and have presented plans, detailed by Forbes , with GM cutting its stable of brands from eight to four - getting rid of Saturn, Saab and Hummer, and paring back Pontiac and focusing on a few n...
Auditors slam bailout
in Sox First, on December 3, 2008
The Government Accountability Office has raised questions about the transparency of the US Government's $700 billion rescue package for profligate banks. In its report , the GAO says nobody really seems to be tracking how the money is being spent. "The banking regulators indicated t...
Why the bailout won't save automakers
in Sox First, on December 2, 2008
US automakers are finishing their restructuring plans as part of their pitch for the the $25 billion in emergency funding but the reality is these companies are losing so much money that it won't be anywhere near enough to save them. Former GM board member Jerome York has told Bloomberg ...
China Investment Corp Buys General Motors (Maybe)
in China Venture News, on December 1, 2008
...ying to get Chinese companies to act interested already - in the hopes that Congress would cough up bailout money just to keep GM a wholly American company.
Buick is the most popular foreign car in C...
Who's next in the bail-out bonanza?
in Sox First, on November 28, 2008
Now that Citigroup has been thrown a lifeline, people are asking who's next. Questions are being asked whether Bank of America is next. And will there be more? Paul Miller, a Friedman Billings Ramsey banking analyst, has told Associated Press that more banks will be lining up because th...
Citi slickers
in Sox First, on November 25, 2008
...
The Bush administration's bailout of Citigroup might be a sign of more to come, and that's a worry for everyone. Not just American taxpayers but right around the world. The most incompe...
Gouging with the bailout?
in Sox First, on November 24, 2008
...
The problem with Paulson's $700 billion bailout is transparency. The auto industry begging for money raises some important question: why are some industries being propped up and others left to...
Automakers flew to Washington in private jets
in Sox First, on November 20, 2008
...that the chairman of the US Senate Banking Committee Christopher Dodd has told Reuters that a bailout package is unlikely at this stage?...
Automakers heading nowhere
in Sox First, on November 19, 2008
...iliating but it had to happen with the automakers going cap in hand to Washington for a $25 billion bailout. And as the New York Times reports, things are not looking good with politicians suggestin...
Recession: the worst is yet to come
in Sox First, on November 13, 2008
...
Any hope of the Paulson bailout or the China stimulus package saving the world has faded with news that Germany has officially entered a recession. Germany is the driver of the European economy...
Bailout blues won't stop foreclosures
in Sox First, on November 13, 2008
The sorry state of the US housing market has become even more apparent with price crashing and foreclosures rising 25% in October, according to the latest reports . But what makes it more appalling is the approach taken by Henry Paulson. Now basically consigned to lame duck status, Paulson has...
GM: Death or bailout?
in Sox First, on November 12, 2008
...automaker will run out of cash . Analysts say the only way it will survive is with a US government bailout. House Speaker Nancy Pelosi says GM is too big to fail and she has a point, given the ...
AIG's bigger bailout
in Sox First, on November 10, 2008
Less than two weeks ago, I did a blog entry looking at how AIG was chewing up that $123 billion loan extended by the US taxpayer. Now, The Wall Street Journal tells us that AIG is about to get a bigger package. The worrying part is that we don't yet know what will happen with those cred...
Obama's to-do list
in Sox First, on November 7, 2008
... mass destruction, along with the threat of climate change. How is going to spend the $700 billion bailout package and how the hell will it be financed when it inflates national debt and nationalizes...
Tough Times Ahead
in Eagle Par Birdie, on November 2, 2008
... a blow in their efforts to forge a merger when the U-S Treasury turned down GM's request for a bailout. Ford is suffering. Toyota, Honda, Mazda (part owned by Ford) are going through the worst dr...
Bailing out General Motors
in Sox First, on October 28, 2008
...how all these failed companies were lining up at the trough to get some of the $700 billion Paulson bailout package. Now, The Wall Street Journal tells us that the Bush administration is working to...
Competing for bailouts
in Sox First, on October 27, 2008
...
The name of the game now is competing for a slice of the bailout. Insurers, automakers, securities dealers and banking types are all lining up for a slice of the action with the Financial Services...
Corporate governance takes a back seat
in Sox First, on October 20, 2008
...ixing the corporate governance mess that helped speed up the meltdown. As part of the $700 billion bailout package, the US Treasury said financial institutions getting taxpayers money would have to a...
Paying for Online College in Today's Economy
in The Online Universities Weblog, on October 9, 2008
...eet are only going to make the situation more difficult, financial aid experts says.
"If the bailout drains all of the federal resources and money isn't available for student aid, that's...
AIG's dodgy accounting
in Sox First, on October 8, 2008
...ded to provide effective risk management oversight." That was in March, six months before the bailout by the US Government. Even its own employees were raising concerns. Consider this letter ...
The Lehman legacy
in Sox First, on October 7, 2008
...r the bankers, they admitted the ignorance of their actions by going to Washington and asking for a bailout. They didn't understand some of these layers upon layers of securities they had created....
Bailout no silver bullet
in Sox First, on October 5, 2008
...
Anyone who thinks Paulson's $700 billion bailout, which privatizes profits and socializes debt, will save the US economy, should think again. London-based investment consultancy Independent ...
Mixed messages on the economy
in The CIO Weblog, on October 3, 2008
...
Microsoft released this statement from General Counsel Brad Smith on the economic bailout package passed and enacted today:
Congressional passage of the financial recovery package is a critic...
US economy sags - check the numbers
in Sox First, on October 3, 2008
... report warns that the US is headed for recession. And that is regardless of what happens with any bailout package. "The financial turmoil that began in the summer of 2007 has mutated into a ful...
Less Stimulating Than Hoped?
in The Personal Finance Weblog, on October 2, 2008
... stimulus checks really do the job?
Good question. As we sit today in the midst of this economic bailout situation in which we are told that failing to use $700 billion to buy up bad loans is going...
"Bailout" news may not be good for bootstrappers
in BootStrapMe, on October 2, 2008
...courtesy of iStockphoto , Lilli Day
As a revised version of Monday's failed Wall Street "bailout" legislation passes the Senate and is now being evaluated by members in the House here...
Bailout politics
in Sox First, on October 2, 2008
...ke any difference: America faces a long and painful recession. "Regardless of the Wall Street bailout, typical Americans have run out of coping mechanisms to keep up their standard of living. Th...
Bailout fails - what now?
in Sox First, on September 30, 2008
...
It's hardly surprising that Congress rejected the hastily-thrown together bailout package. All the polls were showing that people wanted them to pass something different. One suspects the Re...
Goodbye Early Retirement
in The Personal Finance Weblog, on September 29, 2008
...ket plunge once again. Certainly not the first plunge it's taken, and given the fact that this bailout is uncertain, and is not any guaranteed Elixir anyway, it may not be the last plunge.
Fo...
Are you a REAL small business owner?
in Biz Plan Hacks, on September 29, 2008
...d to become a small business owner. When things go bad you cannot go crying to the government for a bailout because you're just not important to them.
But in the end you have the knowledge of kn...
Can the bailout fix things?
in Sox First, on September 29, 2008
...
The draft bailout bill provides "authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disr...
Bush Wants To Bail Out Corporate Gamblers
in The Gambling Weblog, on September 29, 2008
...on at Aqueduct and Yonkers Raceway in the 60's.
Anyway, read the details about the government bailout of Wall Street gamblers , and come election day remember to vote for the politicians that su...
Forget the credit crunch: bootstrap your business
in BootStrapMe, on September 27, 2008
Has the latest news on U.S. and global financial problems got you down?
There is an alternative. Stop worrying about Wall Street and bootstrap your business startup or expansion instead.
Here's how:
• Start with no money. Begin with a service (generally the least capital intensive kind ...
Washington Mutual - another one bites the dust
in Sox First, on September 26, 2008
...money left to do the job if more banks go under? Bloomberg reports that might need a $150 billion bailout. "Americans had gotten used to the idea that bank failures were as rare as a category ...
Bailout blues
in Sox First, on September 25, 2008
...at he wants a "clean" plan. "Clean," in this context, means a taxpayer-financed bailout with no strings attached - no quid pro quo on the part of those being bailed out. Why is tha...
My Sentiments Exactly
in The Personal Finance Weblog, on September 23, 2008
... © DOliphant
Senator Jim DeMint of South Carolina on the bailout:
"It's a sad fact, but Americans can no longer trust the economic information they are getting from this administratio...
