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March 2009 - Posts
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Now you can trade your two Ponzis for a Madoff. Read More...
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It's not unusual for shoppers to get their money back when something doesn't work or fit. But now companies are throwing refunds at customers for a new Read More...
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The first quarter on Wall Street was so extreme it included a bear market and a bull market all its own — moves that sometimes take years or more. Read More...
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Americans have some catching up to do in the kitchen. Read More...
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Banks that have received federal aid are using the money as they see fit, in some cases providing new loans to customers, retiring debt or buying mortgage-backed Read More...
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Every day is April Fools' Day on the Internet. There are thousands of myths floating around in cyberspace. Most of these e-mails aren't malicious, they Read More...
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Yamaha Motor Corp., USA recalled about 145,000 off-highway recreational vehicles for repairs Tuesday after three models were involved in 46 deaths. Read More...
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In these scary economic times, older workers are putting off their retirement and hanging on to a paycheck. Read More...
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Hedge funds generally accept the Obama administration's proposal to require managers to register with regulators, but want to ensure their information Read More...
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General Motors' new chief executive says he will not cut his salary to $1 a year like his predecessor Rick Wagoner. Read More...
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Executives at General Motors and Chrysler are speeding to put in place workable plans to restore their dwindling operations. It’s a race they might not Read More...
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The Supreme Court on Tuesday threw out A Philip Morris appeal of a $79.5 million award to a smoker's widow, likely forcing the cigarette maker to make Read More...
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Consumers' confidence in the economy remained virtually unchanged after plummeting to historic lows in February as Americans are still nervous about the Read More...
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The Sun-Times Media Group, owner of the Chicago Sun-Times and dozens of suburban newspapers, has filed for bankruptcy protection from creditors. Read More...
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American home prices dropped by the sharpest annual rate on record in January, a widely watched index showed Tuesday. Read More...
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Ford Motor says it is offering a payment protection plan to help reassure consumers who may be putting off a car purchase because of worries about losing Read More...
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These days, it’s imperative for small businesses to be flexible and make radical changes. Your Business talked to a handful that discovered it’s time to Read More...
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Along with harsher demands, President Obama offered support Monday for GM and Chrysler, hoping to soothe fears about buying cars from automakers on the Read More...
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We've agreed that keeping dying companies on life support isn't the solution. But when it comes to creating a plan for what happens next to the workers Read More...
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As leaders from the world's richest countries argue this week over how to tackle the global economic crisis, developing nations will be shouting even louder Read More...
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After months of asking General Motors for a roadmap to profitability, President Obama Monday told the ailing car company: Move over, I’m driving. By John Read More...
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When General Motors Chairman and CEO Rick Wagoner leaves the automaker, he'll take with him a financial package worth an estimated $23 million. Read More...
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Tempted to cut prices? You’re not alone. With slumping sales, many businesses have been quick to offer discounts. Here’s what happened to three firms that Read More...
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Chrysler has reached agreement on a global alliance with Fiat not long after President Barack Obama set it a one-month deadline to link up with the Italian Read More...
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Sales of vacation homes and investment properties slid 30 percent last year as tough economic conditions and tight lending requirements shut out buyers Read More...
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Shoppers may be thinking about spring, but some retailers are reluctantly setting their sights on Christmas. Read More...
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The government's latest handout to investors looking to profit on the bank bailout has readers: why not just give the money directly to taxpayers? The Read More...
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A heated political argument is erupting across Japan over whether the entire country should follow Tokyo's lead and pour taxpayer money into major public Read More...
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A senior Obama administration official has told NBC's John Yang that General Motors CEO Rick Wagoner was asked to step down by the administration. Read More...
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There’s nothing more frustrating than putting the time and energy into a face-to-face interview, only to get little to no information on why you didn’t Read More...
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"Who pays?" asks a neon artwork in wealthy Liechtenstein's elegant black granite cube of a museum. Read More...
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The coming week may well be a turning point for the stock market and its March rally. Read More...
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Sandwiched between the soft drink and popcorn ads, you may soon see an ad from the Federal Reserve while waiting for your movie to begin. Read More...
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JPMorgan Chase & Co. said Friday that holders of a number of low-interest-rate credit cards will be refunded monthly service charges that generated complaints Read More...
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Plunging prices have begun to play out in favor of Western oil companies, giving them leverage with oil-rich countries that only months ago had no reason Read More...
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Concern that the Obama administration could impose a new ban on some semiautomatic weapons is driving worried gun owners to stockpile ammunition. Read More...
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President Barack Obama says GM, Chrysler and all those with a stake in their survival need to take more hard steps to help the struggling automakers restructure Read More...
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By Tuesday, General Motors Corp. will have to decide whether its struggling Hummer brand will die a quiet death or live on with a new owner. Read More...
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Treasury Secretary Timothy Geithner said Sunday there's about $135 billion left in bailout funds and that, if more is needed, “we’ll cross that bridge Read More...
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Through it all the turmoil, Tim Geithner has displayed the same intense focus and unflappable demeanor that made him an obvious choice for Treasury Secretary Read More...
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The Obama administration moved to quell a public war of words with European leaders over the need to boost government spending to combat the financial Read More...
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With recession-wary Americans buying less bling, even the world's wealthiest are feeling the effects. Read More...
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What was once a nation of savers is now a nation of debtors - borrowing money for everything from cars to college. And even before the current spike in Read More...
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The economic crisis has exposed the myth of business-school expertise. Read More...
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Those living in Monte Carlo may enjoy the beaches and nightlife, but they pay for it. The resort area tops a list of the world's most expensive housing Read More...
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A New York businessman is launching a new kosher tequila in time for Cinco de Mayo. Read More...
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More states logged double-digit unemployment rates in February, with North Carolina and Rhode Island seeing their rates hit record highs. Read More...
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Google Inc. is jettisoning nearly 200 workers in its largest round of layoffs yet, demonstrating that even highly profitable companies are feeling the Read More...
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The government says consumers increased spending for a second straight month in February even though their incomes slipped due to continuing massive layoffs Read More...
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Bernard Madoff’s U.K. operations “played a significant role in the operation” of the New York financier’s massive Ponzi scheme, according to a report in Read More...
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Users share their stories of changing their lives after a job layoff Read More...
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President Obama is set to take the temperature of the bank CEOs on Friday at the White House. Read More...
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The Obama administration plans to raise fuel efficiency standards to 27.3 miles per gallon for new cars and trucks in the 2011 model year. That will be Read More...
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President Obama said his administration will help Detroit's automakers only if the companies and their stakeholders make "pretty drastic changes" to reshape Read More...
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As Congress and the White House begin getting down to details in solving the financial crisis, reacing consensus is getting more and more difficult. Read More...
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About 7,500 General Motors Corp. workers have signed up to take buyout and early retirement incentives to leave the company, the automaker said Thursday Read More...
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An AIG employee offers a glimpse into the roller coaster of working for one of the most talked-about institutions in the financial collapse. Read More...
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Best Buy Co. Inc. said its fourth-quarter sales grew 10 percent and adjusted profit was better than expected — surprisingly good news. Read More...
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The number of laid-off Americans filing initial jobless benefit claims rose slightly last week while the number of people continuing to claim benefits Read More...
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The economy shrank at a 6.3 percent pace at the end of 2008, the worst showing in a quarter-century, and probably isn’t doing much better now. Read More...
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More and more laid off workers are considering franchising as an alternative to working for someone else. But becoming a franchisee takes a lot of hard Read More...
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President Obama’s auto industry task force is ready to lend General Motors and Chrysler more money, according to a report in The Wall Street Journal. Read More...
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The Obama administration is proposing an extensive overhaul of financial regulations in an effort to prevent a repeat of the banking crisis of last fall Read More...
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Treasury secretary to seek uniform standards for all financial firms and federal oversight of hedge funds, insurers and derivatives markets. Read More...
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Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity that could one day make Read More...
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Anheuser-Busch InBev lost a battle for the "Budweiser" name after an EU court rejected Wednesday its claim to register the word as an exclusive Europe-wide Read More...
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Federal agents and prosecutors are accelerating their probes of some financial fraud cases amid growing public demand for a quicker crackdown on Wall Street Read More...
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Most checking accounts are now automatically enrolled – as a customer service – in an overdraft protection program. The banking industry loves it. Consumer Read More...
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An AIG executive who received a retention bonus worth more than $742,000 after taxes has resigned publicly — in an Op-Ed column in The New York Times. Read More...
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Toyota’s Prius, the long-reigning hybrid king, faces its toughest competition yet in the Honda Insight hybrid. Read More...
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Orders to factories for big-ticket goods and new homes sales both rose unexpectedly in February, but economists said the gains were unlikely to last as Read More...
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Postmaster General John Potter told a House subcommittee Wednesday that without help the U.S. Postal Service will run out of money this year. Read More...
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New home sales rebounded unexpectedly last month, but were still the second-worst on record and remained well below last year's levels, according to data Read More...
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Treasury Secretary Timothy Geithner urged Congress Wednesday to act quickly on legislation that would give it sweeping new powers to seize at-risk financial Read More...
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Orders to U.S. factories for big-ticket manufactured goods unexpectedly rose in February after a record six straight declines. Read More...
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U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group Read More...
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The Czech head of the European Union presidency said Wednesday that the U.S. economic rescue plans are "a way to hell." Read More...
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Because of lax oversight, undeserving companies collected millions in contracts from an $8 billion government program designated for small businesses in Read More...
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A group of financial wizards looked into their crystal ball Tuesday and saw some good news. Read More...
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President Barack Obama will meet the CEOs of some of the country's largest banks on Friday and impress on them the need to look beyond their own narrow Read More...
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In these tough economic times, what's a store to do to make sure it's still in business a year from now? Read More...
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Out of toilet paper? Need to pick up a few things for dinner? Take a number and start bidding. Read More...
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China is calling for a new global currency to replace the dominant dollar, showing a growing assertiveness on revamping the world economy ahead of next Read More...
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Edward M. Liddy, AIG's would-be rescuer who has become a target of wrath over Wall Street excesses and the ravages of the recession, knows all too well Read More...
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Michigan has lost over 1 million jobs related to the manufacturing industry since 1999, and the state’s unemployed auto-manufacturing workers could use Read More...
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World airlines will lose $4.7 billion this year due to the economic crisis, while revenues will drop by more than after the Sept. 11, 2001 terrorist attacks Read More...
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Dreaded white-collar job cuts at General Motors Corp. started Tuesday as the wounded automaker began to deliver on promises to the government to shrink Read More...
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More than $1 billion in assets from Bernard Madoff’s businesses have been found, a lawyer for the trustee trying to recover money for jilted investors Read More...
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U.S. Treasury Secretary Timothy Geithner will face tough questions from lawmakers as he spells out the basics of the administration's plans to reshape Read More...
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Jarred by a cool White House reception and other fears, Senate leaders are likely to delay legislation to punitively tax bonuses at banks and investment Read More...
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The Obama administration is considering asking Congress to give the Treasury secretary powers to initiate the seizure of non-bank financial companies whose Read More...
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Trucking companies aren’t exactly booming, but they are holding their own, and many are benefiting from the availability of more high-quality job candidates Read More...
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New York state Attorney General Andrew Cuomo says 15 employees who received some of the largest bonuses from AIG have agreed to return the money in full Read More...
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Latinos and blacks who are losing jobs at a faster rate than the general population during this punishing recession, according to Bureau of Labor Statistics Read More...
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Global trade will shrink by 9 percent this year in the worst collapse since World War II, the World Trade Organization said Monday. Read More...
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The Treasury's latest plan to bail out the banking system faces hurdles that have plagued the similar plans since October. The biggest question remains: Read More...
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The recession and changing economy isn’t just costing millions of Americans their jobs — it’s also forcing many to change careers as the jobs they once Read More...
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The story of American capitalism is, among other things, a love-hate relationship. We go through cycles of congratulation, revulsion and revision. Just Read More...
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Geithner's plan raises the disturbing question: Where the hell are the capitalists? Where are all the people who are willing to put their own money, and Read More...
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Nobel Prize-winning economist Paul Krugman has emerged as Obama's toughest liberal critic. He's deeply skeptical of the bank bailout and pessimistic about Read More...
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Sales of existing homes rose from January to February in an unexpected boost for the slumping U.S housing market as buyers took advantage of deep discounts Read More...
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Workmen rolled up their sleeves at American International Group Inc this weekend to take down the most prominent sign at the downtown Manhattan offices Read More...
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China will continue buying U.S. government debt while paying close attention to possible fluctuations in the value of those assets, a vice governor of Read More...
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