tag:blogger.com,1999:blog-31123773615696836032011-04-21T11:37:45.578-07:00Ashishnoreply@blogger.comBlogger2211100tag:blogger.com,1999:blog-3112377361569683603.post-174032044090401462009-04-06T03:01:00.000-07:002009-04-06T06:51:24.062-07:00

There is a continuous debate as to whether General Motors should be allowed to go bankrupt or not.In fact the American public is being mentally prepared to accept the possibility of a 'structured bankruptcy' for G.M.,whatever that means. Much has already been said about why G.M. finds itself in the present mess.So let us see what we stand to lose if G.M. is allowed to go bust. Coming at a time

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-42403500918986370952009-04-04T22:30:00.000-07:002009-04-04T23:52:45.428-07:00

The mark to market accounting system,as an accounting device became popular in the 1980's. The system was supposedly a foolproof method for valuing various financial instruments.Large corporations and banks adopted these rules as they felt that they provided a more transparent method of determining profits.Now these very rules are being blamed for precipitating much of the subprime mortgage

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-53590597518782917222008-08-03T18:48:00.000-07:002008-08-03T18:50:34.997-07:00

Today people are queuing up for hybrids for a host of reasons. More mileage, cleaner emissions, less dependence on imported oil and the likes.So how do conventional cars really match up to hybrids. Well here's a look.As far as fuel efficiency goes the odds are clearly in favor of hybrids. You could get savings of 20%-25% on your gasoline bills if you are driving a hybrid. But before you get rid

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-41982249697906796852008-08-02T21:59:00.000-07:002008-08-02T22:03:39.932-07:00

Hybrids are the fastest growing segment of the American car market.In 2006 the sales of hybrids rose to 1% of total car sales ,an increase of 22%over the previous year.This high rate of growth looks set to continue with the public growing increasingly concerned about depleting world oil resources and the environmental impact of fossil fuels.The figures speak for themselves.Hybrids can cut fuel

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-38455014305730397862008-08-02T17:23:00.000-07:002008-08-02T17:25:28.496-07:00

A report released recently informs us that almost 2.2 million people are in US jails. This marks an eight fold rise in the number of Americans in prison since 1970.It costs the taxpayer about $65 billion annually. The report has been produced by the JFA Institute a Washington criminal justice research group.The impact of such a large number of people in prison is awesome.Once you include the

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-39135439586187220732008-06-20T22:49:00.000-07:002008-06-21T00:39:20.062-07:00

Honda may have found the answer to $4 plus gas.It has started production of the FCX Clarity fuel cell car that goes on lease in California this year. It is the first regular production fuel cell car aimed at individuals. The others have been aimed at fleet operators. The response has been overwhelming. People have been literally falling over themselves to get a chance to drive the sleek four

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-10569330366966751672008-06-13T08:52:00.000-07:002008-06-13T09:23:15.656-07:00

Samuel Israel, founder of the Bayou hedge fund group has disappeared the day he was to begin a 20 year prison term for defrauding investors of $450 million. Police have put out 'Wanted' posters, and describe him as 'armed and dangerous.'Founded in 1996, the fund raised about $300 million from investors, promising them that the fund would grow to $7.1 billion in ten years. The fund however never

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-3230970119796527152008-06-12T08:30:00.000-07:002008-06-12T08:34:19.842-07:00

When the subprime crisis first broke in August of last year, few anticipated the extent and depth of the crisis. At that time it was estimated that subprime related losses would be about $140 billion. The situation was bad but not impossible and Bernanke rightly assumed that simple adjustments to interest rates would take care of the situation. But the banks and financial institutions had hidden

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-49476975947651398132008-06-11T07:57:00.000-07:002008-06-11T07:58:41.131-07:00

The global economy today is more integrated than ever before. Globalization has on the whole, brought tremendous benefits to the participating nations.Among other reasons, the unprecedented worldwide economic boom witnessed in the last few years was due to manageable oil prices. I say manageable because, while oil prices which were around $30 a barrel before the start of the US led invasion of

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-31704724175691372532008-06-07T07:27:00.000-07:002008-06-07T07:29:02.490-07:00

After Abu Dhabi Investment Authority, which made news last year for picking up a 4.9% stake in Citigroup for $7.5 billion, it is now the turn of the Chinese government owned Chinese Investment Corporation to get into the act.Eager to cash in on the opportunity thrown up by the debt crisis the Chinese Investment Corporation has ploughed billions of dollars into the best known names on Wall Street

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-72398279906252897242008-05-31T06:50:00.003-07:002008-05-31T07:15:15.368-07:00

America's love for plastic money has grown over the years. Total consumer debt in the US stands at more than $2.4 trillion.Total US consumer revolving debt is over $900 billion. Fifty-one percent of the US population has at least two credit cards, with one in ten consumers carrying more than ten credit cards in their wallets. There has been a tremendous increase in the number of credit card

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-13033667349225001102008-05-31T06:50:00.001-07:002008-05-31T06:50:44.373-07:00

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-71306531620600962782008-05-28T23:32:00.000-07:002008-05-29T07:44:16.374-07:00

Sales of Barbie dolls, Mattel's flagship brand have been declining within the US for sometime now. Most of the decline is due to the growing popularity of the Bratz range of fashion dolls. These dolls were launched by MGA Entertainment in June 2001, and quickly emerged as a serious competitor to Barbie. Bratz was created by Carter Bryant an ex-employee of Mattel. Bryant presented his drawings to

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-90353771309181358392008-05-28T17:56:00.000-07:002008-05-28T18:09:07.638-07:00

Landowners in many parts of the US are sitting on top of a fortune without knowing it. There are large deposits of natural gas stretching from the suburbs of New York to West Virginia and in parts of Indiana and Texas. Rising prices have made these deposits valuable, and improved technology has made it possible to tap them.'Landmen,' persons who obtain mineral rights for companies are on the

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-81590577144047348952008-05-27T18:14:00.000-07:002008-05-27T18:39:06.302-07:00

The foreclosure crisis is deepening as home prices continue their journey southwards. They have fallen by a huge 14.1% in the first quarter of this year, according to data released Tuesday. Although precise data is not available, it is feared that the group hit hardest by the current crisis is the US serviceman.Foreclosures in towns where US soldiers live are increasing at a pace almost four

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-66574676367120087432008-05-27T03:55:00.001-07:002008-05-27T04:08:34.459-07:00

Salesmen at one Missouri auto dealership aren't offering a free CD player or an air conditioner to boost sales. They are offering free handguns instead. Mark Muller, owner of Max Motors hit upon a novel idea to promote auto sales. He has a dealership in Missouri that sells both used and new vehicles including General motors and Ford products. He started offering buyers a choice between a $250 gas

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-10267980824136298862008-05-27T02:46:00.000-07:002008-05-27T02:52:33.857-07:00

Colin Campbell Ross was hanged for allegedly raping and strangling 12 year old Alma Tritschke almost 87 years ago. Ross, who ran a wine saloon was alleged by the Crown to have given alcohol to the little girl before comitting the crime on New Year's Eve 1921. He was sent to the gallows the following year, although witnesses had placed him elsewhere at the time of the murder.Ross always maintained

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-43606956694263138692008-05-26T18:35:00.000-07:002008-05-26T18:38:42.897-07:00

Gas at almost $4 a gallon has really hit travelers hard.An estimated 23% Americans shortened or abandoned their weekend travel plans because of the record gasoline prices, according to a survey by consulting firm Deloitte and Touche. Among families with younger children, under 13, 35% changed their plans.About 37.9 million people traveled at least fifty miles during the holiday weekend, which

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-11666882004951308432008-05-26T17:57:00.000-07:002008-05-26T18:10:55.790-07:00

Gas at almost $4 a gallon has really hit travelers hard.An estimated 23% Americans shortened or abandoned their weekend travel plans because of the record gasoline prices, according to a survey by consulting firm Deloitte and Touche. Among families with younger children, under 13, 35% changed their plans.About 37.9 million people traveled at least fifty miles during the holiday weekend, which

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-28355823341760275112008-05-26T03:55:00.000-07:002008-05-26T04:19:53.029-07:00

Non-profit organizations are concerned a recent Minnesota Supreme Court decision could strip them of their non-profit status.A tax assessor of Mille Lacs county had ruled that a juvenile center was liable to pay property taxes as it was not doing any charity. The day care center appealed.The Minnesota Supreme Court ruled in December 2007 that the center was not eligible for a property tax

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-38493565692816307782008-05-25T17:10:00.000-07:002008-05-25T17:31:46.984-07:00

The world's richest man told newspaper El Pais in an interview Sunday, that banks were to blame for the mortgage crisis who took too many risks in mortgage lending. He also said he believed the situation in financial markets would not deteriorate further.'I don't think the situation will get worse in financial markets. General conditions in the business world will get worse but it will only last

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-66498431030443997022008-05-24T05:09:00.000-07:002008-05-24T05:30:07.539-07:00

Financial markets are not always rational or efficient.Often people go on a speculative binge ignoring reality. Speculators will buy anything, not because of its intrinsic value, but because they are confident of selling it some time later for a profit. This is the 'greater fool' theory, that is although one may be a fool for buying something, it is OK as long as somebody else is willing to buy

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-81808738798248238302008-05-24T03:50:00.000-07:002008-05-24T04:09:25.858-07:00

The city of Vallejo, located about thirty miles northeast of San Francisco, filed for bankruptcy protection Friday. The city faces a $16 million deficit in its fiscal year starting July 1st, caused by increasing employee costs and declining tax revenue.The City Council voted to seek bankruptcy protection on May 6th after negotiations with its police and firefighter unions failed. Vallejo's

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-20492848273317302132008-05-22T17:20:00.000-07:002008-05-22T18:02:17.203-07:00

Strange but true. The House passed a bill Tuesday which allows the Justice Department to sue OPEC members for forming a cartel and setting crude prices worldwide. The best part is , the vote was 345 to 72, a big enough margin to make a Presidential veto meaningless.It also allows the Justice Department to look into complaints of gas price gouging and energy market manipulation. Oil company

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-74064463959441418262008-05-19T07:56:00.000-07:002008-05-19T08:25:15.500-07:00

The Commerce Department reported Friday that housing construction rose by 8.2% in April, the biggest increase in more than two years.The growth came from a big jump in apartment construction which increased 36%. The larger single family home sector however dropped by 1.7%. Application for building permits, considered a good sign for future activity rose by 4.9%, the first gain in five months.

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-14767228459059995442008-05-18T23:37:00.000-07:002008-05-18T23:51:42.127-07:00

Putting an end to speculation that it had persuaded Carl Icahn to launch a battle for control of Yahoo, Microsoft announced Sunday that it is in fresh talks with Yahoo for another deal. The present offer is rumored to be for a deal which stops short of a full acquisition. Analysts feel that such a deal may be in Yahoo's interests. Says Troy Mastin,'If they structure a deal correctly, they might

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-27792119367594599712008-05-17T21:57:00.000-07:002008-05-17T22:50:43.076-07:00

Iraq holds more than 112 billion barrels of oil, the world's 2nd largest proven oil reserves after Saudi Arabia. Iraq also has 110 trillion cubic feet of natural gas. The US Energy Information Administration estimates that 90% of the country remains unexplored. These regions could hold an additional 100 billion barrels of oil by a conservative estimate. A study by the Center for Global Energy

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-74009668204658918882008-05-17T03:32:00.000-07:002008-05-17T04:45:06.448-07:00

The Bush administration will temporarily halt oil shipments into the US Strategic Petroleum Reserve(SPR) for the rest of this year, the Energy Department announced Friday. The announcement came 3 days after Congress voted overwhelmingly in favor of suspending the purchases to ease the upward pressure on oil prices.The decision coincided with Saudi Arabia's announcement of an increase in

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-68090968906985165452008-05-16T03:28:00.000-07:002008-05-16T04:57:25.005-07:00

Twenty years from now, the US could get 20% of its electricity from wind energy, according to a US government report. The report is the result of collaboration between the Energy Department research labs and industry. The best part is that most of the technology needed is already available. Wind energy currently accounts for only about 1% of US electricity generation.'The United States posseses

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-60341071893698615922008-05-15T07:59:00.000-07:002008-06-29T17:30:44.738-07:00

Presently, renewable energy sources such as wind and solar energy, supply only about 6% of America's energy needs, according to the federal government's Energy Information Administration.This figure is expected to grow to about only 7% in the next 20 years.Focus on alternative energy sources has increased with the current runaway boom in world oil prices. This increase is different from earlier

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-60696697126321162362008-05-14T02:47:00.000-07:002008-05-14T04:57:26.632-07:00

Not a week passes without some news of either sabotage of Nigeria's oil industry infrastructure, or an attack on the industry's expatriate work force. Although the loss of production is usually insignificant, it permits speculators to drive up oil prices by playing on fears of long term supply disruptions.Nigeria is the 10th largest oil producer in the world. It is also a member of OPEC.Its

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-57621573977528690922008-05-13T08:24:00.000-07:002008-05-13T09:22:26.951-07:00

The Ambassador Bridge is North America's most important international border crossing. Built over the Detroit river it connects Detroit, Michigan with Windsor, Ontario in Canada.At the time of its completion in 1929 it was the longest suspension bridge in the world.It was conceived as a privately financed link between the US and Canada, and was built by financier Joseph A. Bower, who hailed from

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-37236140650977833532008-05-13T06:52:00.000-07:002008-05-13T08:02:06.540-07:00

The US has a trade embargo in place with Cuba since 1962, but it made no difference to either Fidel Castro or to successive US Presidents except that it drove up the price of Havana cigars. After the collapse of the Soviet Union, the US government assumed, that cut off from Soviet aid Cuba would soon follow suit. But that did not happen and Castro continued in power till last year, when he was

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-86059506950945134942008-05-12T06:48:00.000-07:002008-05-12T07:59:16.267-07:00

In 1953 Brazil produced only 3% of the oil it needed. Consumption then was minuscule compared to the 2.2 mbpd it guzzles today. Yet at the end of 2007 Brazil turned a net exporter of oil.This turnaround is due to its remarkable success in drilling for oil offshore. Spearheaded by Petrobras, its giant state controlled oil company, Brazil has continuously added to its oil reserves. In the process

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-17372030743673991882008-05-11T03:04:00.000-07:002008-05-11T03:47:43.722-07:00

If you were wondering how to fit a vacation into your tight budget these days, with the cost of gas being what it is, a house exchange is both convenient and offers big savings. Not only does your lodging, which usually is the major expense, gets taken care of, you can also save money by cooking some of your meals at home. If you are lucky your transportation may also be arranged as many people

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-4949512835622426012008-05-11T02:03:00.001-07:002008-05-11T03:03:47.514-07:00

Runaway food prices have compelled some lawmakers to question the policies adopted to develop the biofuel industry.In order to cut dependence on oil imports Congress has granted the biofuel industry a 51 cents per gallon tax credit and passed a law mandating a five fold increase in output over the next 15 years.This means production is set to increase from 7 billion gallons a year today, to 36

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-42593682149792727682008-05-10T01:47:00.000-07:002008-05-10T02:42:43.731-07:00

OPEC has maintained all along that the market is well supplied with oil and conditions don't call for an increase in output. They say oil prices are rising due to a weak US dollar and because speculators are driving up prices.Both President Bush and his deputy Vice President Cheney have visited the Middle East this year, to try and persuade OPEC, particularly the Saudis, to help control prices by

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-35784798190480776512008-05-09T06:59:00.000-07:002008-05-09T08:15:43.796-07:00

Crude oil prices have hit another record high on Friday, trading at almost $126 a barrel. Anticipating increased demand during the American driving season, and tight supplies, crude reached $125.98 a barrel in European trade this afternoon. What is most surprising is that oil prices go up even on days when the US dollar gains versus other currencies and irrespective of whether US weekly

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-538348954808721132008-05-08T04:10:00.000-07:002008-05-08T07:01:31.651-07:00

Federal Reserve officials expect final credit card regulations aimed at protecting consumers to be rolled out by year's end. Sandra Braunstein, the Fed's director of consumers and community affairs, said that the Fed would combine new regulations under the Truth in Lending Act and the Federal Trade Commission Act. She said the Fed had examined issues of increasing rates on existing balances,

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-68457308892390705752008-05-07T06:44:00.000-07:002008-05-07T07:38:46.159-07:00

Fed Chairman Ben Bernanke said Monday in a dinner speech to Columbia Business School that "High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial markets, and the broader economy." He added, "Therefore, doing what we can to avoid preventable foreclosures is not just in the interest of lenders and borrowers. It's in everybody's

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-90782550765429291212008-05-06T02:54:00.000-07:002008-05-06T03:18:07.400-07:00

Economic activity in the non-manufacturing sector expanded in April, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report on Business. The Non-Manufacturing Index or NMI increased 2.4% to52%,indicating expansion within the non-manufacturing sector for the month of April 2008. This comes after three consecutive months of decline. Twelve non-manufacturing

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-44511452008489525112008-05-04T06:50:00.000-07:002008-05-04T07:41:15.698-07:00

The US mortgage meltdown has been grabbing world business news headlines for months now. There was a time in mid March this year when the world financial system seemed to be at risk.The extent of the crisis came to light when Bear Stearns was about to go bust, and would have almost certainly done so, had not the Fed stepped in. Bear Stearns has disappeared for good, taken over by JP Morgan, but

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-62790809249637515792008-05-03T03:04:00.000-07:002008-05-03T04:45:19.100-07:00

About a month ago Steve Ballmer had issued a threat to Jerry Yang of Yahoo. Accept Microsoft's unsolicited buy out offer of $31 per share or be prepared for the consequences! Ballmer had given Yang till April 26th to accept the offer or face a hostile takeover. He had hinted that in case of the latter event Microsoft may even lower the price offered. 'If we are forced to take an offer directly to

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-7864357860381036382008-04-23T07:33:00.000-07:002008-04-23T08:16:04.828-07:00

The US transportation system developed oil dependent highway and air travel while neglecting other forms of transportation.This system worked fine as long as oil was cheap, but now that oil prices are not only rising but shortages are also foreseen, previously ignored methods of transportation are being given a second look.The railroads declined as in the 1980's a large number of low cost, non

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-71693839880900228722008-04-20T07:02:00.000-07:002008-04-20T07:33:16.271-07:00

Oil ministers from 12 OPEC members along with chief executives of major producers have gathered in Rome for the 11th International Energy Forum amid political calls to increase production. The three day conference starting Sunday April 20th will focus on access to energy resources, the security of supplies, issues of investment and development of renewable sources of energy. However OPEC

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-7795611374956925042008-04-19T02:17:00.000-07:002008-04-19T02:52:35.187-07:00

Legendary oil investor T.Boone Pickens warned Thursday, that crude oil prices are still headed upward and could top $125 a barrel in the short term.US crude futures touched a record $117 a barrel Friday, before retreating slightly. Pickens expects US natural gas prices to rise from the current level of $10 per million British thermal units to $12-$14 this winter, a further rise of 20%-40%.Pickens

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-30122085989499609712008-04-17T04:28:00.000-07:002008-04-17T05:03:33.461-07:00

Tax rebate checks are central to the $168 billion stimulus package approved by Congress. These checks will start arriving in the mailboxes and bank accounts of persons having incomes below a certain limit, $87,000 for singles and $174,000 for married joint filers, from the first week of May onwards.The entire excercise will last till July, and is intended to prevent the economy from sliding into

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-52327042040687302832008-04-16T07:02:00.000-07:002008-04-16T07:51:46.032-07:00

Generation X is very pessimistic about achieving a comfortable retirement, a new study shows. The main reasons for this are very high expectations, low retirement savings and concern about the future of Social Security, now that company pensions are a thing of the past. The study found that 37% said they would like to have between $1 million to $5 million saved for retirement, even though they

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-39815601671984343962008-04-16T06:17:00.000-07:002008-04-16T06:57:41.361-07:00

Oil production in Russia, the second largest oil exporter in the world, is set to decline sharply. According to reports, the country has not been able to increase its oil output for the last three months in a row. Current production stands at slightly below the maximum of 9.93 million bpd that was reached in October last year.This amounted to almost 11% of world consumption. Output has declined

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-15274001041635346912008-04-15T04:24:00.000-07:002008-04-15T05:20:44.605-07:00

A Washington Post-ABC News polling reveals that public disapproval of the way President Bush is handling the economy has hit a new high.Seven in ten Americans now give negative ratings to the President's handling of the sinking US economy. Only 28% approve of his performance in this area, a double digit decline from a year ago, and even core Republicans have begun to disagree with the President

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-80542890584178563532008-04-15T01:36:00.000-07:002008-04-15T02:13:07.383-07:00

With the best known names in the investment banking business reporting massive write downs and losses, stemming from their exposure to subprime mortgages, it is difficult to imagine that any US fund company could actually be growing its business as well as profits in these times. BlackRock Inc. is doing just that. Built up over the last 20 years by Laurence Fink, it has grown to become the

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-16977334072556774172008-04-14T07:41:00.000-07:002008-04-14T08:14:02.347-07:00

While the American economy teeters on the brink of recession, industrial companies in the S&P 500 hold almost $615 billion in cash and cash equivalents.This compares with $352 billion in 2001 and $95 billion at the time of the 1990-91 recession. These companies have also reduced short term debt and cut inventories to record low levels in relation to sales, all of which makes them strong enough to

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-54260265839856152992008-04-14T03:50:00.000-07:002008-06-06T18:08:13.955-07:00

Production of conventional oil in Canada was predicted to peak in 2006 and decline rapidly thereafter. But experts had overlooked Canada's 'tar sands.' Located mainly in the province of Alberta, lying beneath almost 140,000 sq. kilometers of forest, are Canada's tar sands.They hold almost 1.7 trillion barrels of crude bitumen (the technical term for the fuel extracted from them), of which 174

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-60256383006219261912008-04-13T07:40:00.000-07:002008-04-13T08:23:22.961-07:00

Goldman Sachs sold $500 million of Chrysler LLC loans Wednesday, to an investor group that included hedge funds. The deal was concluded at a price of 63 cents to the dollar.This reflects the mounting pressure on both the struggling automaker as well as its bankers since a $7.4 billion deal which took the company private last year. Goldman originally held about $1.6 billion of the $7 billion loan

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-3623070266262811162008-04-12T09:13:00.000-07:002008-04-12T09:40:39.144-07:00

There's a major oil boom going on in Alberta,Canada. At first sight it doesn't resemble a traditional oil field that one sees in the Middle East or even closer home in Texas. The difference is that here you don't have to drill for oil, you have to 'mine' it. Here the oil is found mixed in tar like sand just below the earth's surface. You just have to remove the topsoil and scoop out the oil rich

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-79511328055857749752008-04-10T03:58:00.000-07:002008-04-10T04:34:13.129-07:00

Billionaire investor Wilbur Ross Jr. is known for his daring investments in industries which are going through a rough patch.He made his fortune investing in distressed companies in the steel, textile and coal industries, turning them around, and selling them for a handsome profit.Since the third quarter of last year he has been adding to his $95 billion of subprime mortgage servicing assets. He

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-20461336791700958642008-04-09T09:24:00.000-07:002008-04-09T09:48:49.250-07:00

Citigroup is nearing a deal to sell up to $12 billion of its leveraged loan portfolio to a group of private equity firms. It is rumored that Apollo Management, the Blackstone Group and TPG would buy the loans at a discounted price, which would fetch Citi about 90 cents to the dollar on an average. Apollo would buy about half the portfolio, with Blackstone and TPG taking the rest. Apollo has a

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-32049683501200058862008-04-08T09:33:00.000-07:002008-04-08T17:46:55.306-07:00

The housing scenario shows no signs of improving.The data for pending home sales released Tuesday , show a new low for the month of February. The National Association of Realtor's index for pending sales of previously owned homes fell 1.9% to 84.6 in February from January, a spokesman of the industry group reported.The figure is worse than the 1.1% drop predicted by analysts.However the worst

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-68262777961308943822008-04-07T08:36:00.000-07:002008-04-07T18:01:52.280-07:00

American companies are gradually coming to terms with the consequences of globalization. The fiscal and trade deficits have combined to erode the value of the dollar. Unable to fight cheap imports and short of working capital, thanks to tight credit, many companies are just folding up and are being bought out by foreign enterprises at discount prices. While it is true that foreign investments are

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-35934929614608213442008-04-06T23:50:00.000-07:002008-04-07T00:24:12.165-07:00

Not long ago a Chinese official had remarked:'The subprime market is very complicated. Chinese banks are not nearly sophisticated enough to make these sort of mistakes.' But Chinese joy at US misfortunes has been shortlived. Their own mainland stock market has fallen almost 50% from its peak reached in October last year, and the government is under pressure from investors to stop the slide. After

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-57645049303287191092008-04-06T02:47:00.000-07:002008-04-06T03:18:41.090-07:00

Microsoft Corp. issued an ultimatum to Yahoo Inc. Saturday, giving it three weeks to reach a deal or face the prospects of a hostile takeover.In case of refusal Microsoft plans to take its case directly to the shareholders at the next general meeting and unseat the present board which is opposing the bid. Steve Ballmer, Microsoft CEO has also hinted that they may lower the price offered.'If we

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-18750453180316323282008-04-05T09:59:00.000-07:002008-04-05T10:34:50.729-07:00

The Democratic candidates, Clinton and Obama have been shouting that if they become President, they will pull out of NAFTA unless changes are made to the trade deal. Clinton has been the more critical of the two, calling the trade agreement flawed, and saying that her plan includes telling Canada and Mexico that the US will opt out unless the core labor and environmental standards are

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-47005356774791937252008-04-03T20:49:00.000-07:002008-04-03T21:07:47.179-07:00

Merrill Lynch CEO John Thain has said that although the credit crisis is far from over his company doesn't need any more outside capital to strengthen its balance sheet. 'We will not have to go back to the market to raise capital,' he said. Merrill has raised about $6.6 billion from investors, mainly sovereign wealth funds based in the Middle East and Asia, this year alone. He also denied rumors

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-60109809828993750002008-04-01T09:22:00.000-07:002008-04-01T16:53:48.476-07:00

Stocks moved sharply higher today, the first day of the second quarter.The rally was led by financial stocks as news broke that Lehman Brothers and UBS AG of Switzerland are issuing fresh stock to strengthen their balance sheets, the latter after reporting a first quarter write down of $19 billion to cover losses in its auction-rate securities business. The belief is gradually gaining ground that

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-3808848816819174452008-04-01T04:03:00.000-07:002008-04-01T07:09:56.281-07:00

Saudi billionaire, Prince al-Walid bin Talal has revealed plans for the $10 billion Mile High Tower, which will be the tallest building in the world when completed.The building will be constructed in a new 'mini city' near the Red Sea port of Jeddah, which is Saudi's financial capital. The prince is a member of the Saudi royal family, and is the 11th richest man in the world , with a personal

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-79091398776836049922008-03-31T23:27:00.000-07:002008-04-01T01:51:31.233-07:00

Treasury Secretary Henry Paulson's plan for streamlining financial regulations is already meeting resistance. The plan basically calls for reducing the the seven current federal regulators into three agencies: the US Federal Reserve, a newly created financial regulator, and a third agency for consumer protection and business practices. He also recommends closing down the Office of Thrift

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-83379353830821978752008-03-31T02:23:00.000-07:002008-03-31T02:48:01.285-07:00

Forty-one year old Roman Abramovich figures on the Forbes 2007 list as the sixteenth richest man in the world with a net worth of $18.7 billion. A college dropout he made his fortune in the Russian oil industry. He has a knack of making newspaper headlines, be it because of his controversial business deals, or for his buyout of English soccer club Chelsea, which he turned around into one of the

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-4985622618112045722008-03-30T05:28:00.000-07:002008-03-30T05:54:25.808-07:00

Lehman has been conned out of more than $355 million in a sophisticated scam operation. The scam seems to have been masterminded by two employees at the Japanese trading house Marubeni Corporation. Marubeni is Japan's fifth biggest trading company.Lehman had advanced a loan through Marubeni to a medical company called Asclepius Ltd., a now bankrupt unit of LTT Bio-Pharma Co. The money was to be

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-64993505588765176932008-03-27T03:13:00.000-07:002008-03-27T03:48:40.312-07:00

Predictions are that the mortgage crisis will cost the financial system at least $ 1 trillion. The calculation is fairly simple. Home prices are predicted to fall cumulatively about 20%. Given such a fall about 16 million households will have negative equity, which means the value of their homes is below the value of thir mortgages. And since the mortgages are no-recourse loans, the borrowers if

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-76755831256314505752008-03-25T22:48:00.000-07:002008-03-25T23:21:21.136-07:00

Trustees for the government's Social Security and Medicare programs have warned that the two programs faced the prospect of financial collapse. Resources in the Social Security trust fund are expected to be exhausted by 2041 and those in the Medicare trust fund even earlier, by 2019. The financial crunch will start when the two programs start paying out more in benefits, than they collect in

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-1881079411420158042008-03-25T09:07:00.000-07:002008-03-25T09:37:35.461-07:00

Although Microsoft and Yahoo have been talking off and on for the past few years, it was only early this year that Microsoft made a formal $44.6 billion bid for Yahoo. The offer appears generous as it was at about a 62% premium to Yahoo's prevailing share price.It was however turned down by Yahoo.Reaction from arch rival Google was immediate.It said that the deal raised troubling questions......

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-85671453368376708422008-03-24T07:30:00.000-07:002008-03-24T08:21:40.293-07:00

After secret discussions Sunday, it was announced early today that JP Morgan would pay $10 for every share of Bear, instead of the initial offer of only $2 per share.The reason given for the new deal is that it is fairer to the shareholders and the employees of Bear.The Fed was reportedly hesitant about backing the deal as it would invite renewed criticism that taxpayers money was being used to

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-21255307466046377092008-03-23T08:38:00.000-07:002008-03-23T09:20:18.414-07:00

'Mr. vice-president, we've been friends a long time,' said Saudi Arabia's King Abdullah, while welcoming Mr. Cheney to his kingdom. Mr. Cheney's visit is a follow up on President Bush's January visit to try and persuade OPEC nations to do more to stabilize world oil markets. Saudi Arabia is the oil cartel's largest producer and most influential member.The meetings were also attended by Saudi oil

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-13902148541336474932008-03-22T07:52:00.000-07:002008-03-22T09:02:51.077-07:00

The Asian crisis of the late 1990's eventually spread to America. The Dow cracked and threatened to fall below 7000! Greenspan cut interest rates aggressively and US companies announced share buyback programs which led to a remarkably quick turnaround.The present crisis has its origins in the housing market. As home prices fell, the loans advanced against them started turning bad. The investors

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-12418913631563028852008-03-22T05:01:00.000-07:002008-03-22T05:49:19.547-07:00

Global markets collapsed as news spread about the Bear Stearns collapse.The Fed acted swiftly. First it engineered a buyout of Bear Stearns by JP Morgan Chase, and then it went ahead and cut interest rates by 75 basis points.It also took some unprecedented steps to pump liquidity into the system.It allowed financial institutions other than commercial banks to approach it directly for

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-74092410775366680992008-03-17T09:57:00.000-07:002008-03-17T10:19:51.473-07:00

The Maryland State Teachers Association voted Friday night to support passage of a November referendum on legalizing slot machines. The Association President Clara Foyd said: 'The referendum establishes an Education Trust Fund and dedicates half of future proceeds to our public schools. It provides Maryland with an additional source of funding beginning with license fees in early 2009.' State

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-71542862837716402112008-03-15T07:05:00.000-07:002008-03-15T07:32:29.416-07:00

One of Wall Street's living legends, Barton Biggs says that this is the time to be buying stocks around the world and not to be selling them. He is not to be dismissed lightly. For more than 25 years he was in charge of global investing at Morgan Stanley and is credited with a knack of spotting global trends early, which helped investors make big money.He told Bloomberg Television, ' We're

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-8703272144806526232008-03-14T10:34:00.000-07:002008-03-14T10:58:30.258-07:00

Bear Stearns has reached out to rival JP Morgan Chase and the Federal Reserve Bank of New York for emergency funding to reassure investors concerned about the struggling investment bank's deteriorating liquidity. JP Morgan and the Fed agreed to provide short term secured funding for up to 28 days, with JP Morgan Chase saying it was working to find permanent or other alternative funding.Bear

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-61584730747977029712008-03-09T08:52:00.000-07:002008-03-09T09:14:58.307-07:00

The cost of food has risen sharply not just in the US but all over the world. Governments are worried that the increases will last longer than expected. Unprecedented global growth has boosted demand for food, which has driven up prices of farm produce from milk to wheat and meat.As world food stocks decline American exports are expected to cross $100 billion, an increase of almost 23%.The

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-6755213847869618952008-03-08T01:05:00.000-08:002008-03-08T01:40:50.487-08:00

'The economic situation has become distinctly less favorable since the summer,' Bernanke told lawmakers a few days back. He added that the Fed will act in a timely manner as needed to support growth and to provide adequate resources against downside risks. This was taken as an indication that Bernanke would cut rates again if needed.Yesterday President Bush admitted that the economy is not doing

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-28365688960279541912008-03-07T07:33:00.000-08:002008-03-07T08:07:51.109-08:00

First the good news. US oil consumption is lower by 1.1% over the last six weeks than it was a year ago. The bad news is that oil prices have still hit a record high of $105 per barrel. That is because presently 85% of the increase in consumption has come from countries in Asia and the Middle East.When the US outsourced manufacturing to Asia it perhaps did not realize that it was shifting

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-32302507498155615522008-03-06T04:30:00.000-08:002008-03-06T05:04:54.662-08:00

Only two issues grab headlines these days. One is whether the Democratic candidate will be Clinton or Obama, and the other is whether the US economy is already in recession or about to slide into one. That the US economy will be in recession this year seems to be taken for granted by most financial analysts.Warren Buffet remarked the other day:'I would say, by any commonsense definition, we are

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-34160808201486573572008-03-04T08:29:00.000-08:002008-03-04T08:54:26.132-08:00

The US consumer has been hit by a triple whammy:falling home prices, rising food and energy costs which reduce real income and a credit squeeze which has reduced spending.It has all added up to a vicious downward spiral which threatens to put the US into recession.Greenspan kept interest rates too low for too long which fueled a runaway boom in real estate and commodity prices.Bernanke, bent upon

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-19373174012324374772008-03-02T07:15:00.000-08:002008-03-02T07:45:44.218-08:00

Sovereign Wealth Funds have dominated headlines recently.Although investments by China's CIC and by GCC funds have been welcomed by high profile companies such as Citigroup etc.,their growing influence has made policy makers distinctly uneasy.With assets under management predicted to increase to $12 trillion by 2015 the issue of regulating their activities has become extremely important.SWF's

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-39923508211845683812008-02-25T17:48:00.000-08:002008-02-25T18:19:55.231-08:00

Yale University is investing $50 million in the initial public offering of shares by China Railway Construction Corp. According to news reports Yale is among nine cornerstone investors who will buy shares for a combined value of $450 million.Cornerstone investors are guaranteed stock in the shares sale.The move is expected to boost investor confidence.Yale and its co-investors are committed not

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-71687903576665058572008-02-24T17:13:00.000-08:002008-02-24T17:38:34.566-08:00

On Feb. 19th Verizon Wireless shook up the cellphone industry by offering unlimited calling for $100 per month. Verizon's offer was immediately matched by AT&t Mobility(T) and T-Mobile U.S.A. Up to 15% of the customers of these three of the four largest US cellphone companies stand to benefit by this move.High daytime users may end up saving from 25% to 40% of their monthly bills.Concerns over a

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-38069898800163805392008-02-24T04:03:00.000-08:002008-02-24T04:28:10.319-08:00

Virgin Atlantic is set to make the first flight by a commercial airline using biofuel.The flight will take-off from Heathrow airport in London and will fly to Amsterdam.It will not have any passengers on board.One of the Boeing 747's engines will be connected to an independent tank that will provide 20% of the engine's power.This will eliminate the risk to the flight that will have three engines

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-90117476990388352452008-01-27T06:24:00.000-08:002008-01-27T07:45:36.938-08:00

The stunning disclosure of a $7.1 billion loss due to the activities of a lone trader at Societe Generale sent shivers throughout the financial community. It certainly caused the sharp sell off in European and US equities Monday and Tuesday.There is speculation that it was this collapse in global equity values that prompted the US Fed to cut interest rates, even before the next Fed meeting

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-37682056535263014682008-01-25T07:47:00.000-08:002008-01-25T08:18:22.426-08:00

A Bloomberg/Los Angeles Times survey reported Friday that Americans are looking to Democrats rather than Bush to avoid an expected recession this year. More than two thirds of those polled felt that the economy was doing badly, up from 56% in December.At the same time however, most agree that tax cuts which are included in the stimulus plan, is the most effective way to boost the economy. Extra

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-43802815921747562552008-01-21T14:57:00.000-08:002008-01-21T17:26:07.980-08:00

That the US economy is doing badly has been well known for sometime now.However analysts had been suggesting that while US growth was weak, the rest of the world, particularly some of the emerging market economies like China and India, continued to enjoy high rates of growth, which would prevent the world economy from being dragged down by the US economy. In fact it was felt that these economies

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-34653385361582388462008-01-21T08:30:00.000-08:002008-01-21T08:52:53.685-08:00

In a simple answer to rising fuel prices and also in order to cut emissions, the world's shipping industry is cutting the speed of its ships.The world's merchant fleet transports 90% of its traded goods and also accounts for 5% of its total CO2 emissions.Faced with a 70% spike in the cost of fuel last year, ship owners have decided to simply reduce speed in order to save fuel and also to cut

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-61763173617820372992008-01-20T02:31:00.000-08:002008-01-20T03:01:12.777-08:00

That's right, the US is on sale and what's more, at a discount if you account for the falling dollar.Fears of recession and lack of credit are forcing companies to look for money elsewhere. The sovereign wealth funds controlled by the governments of the Middle East and China along with some state controlled enterprises from other major developing countries are buying up shares, in fact being

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-68191528532165006642008-01-16T09:16:00.000-08:002008-01-16T09:50:57.820-08:00

President Bush on his trip to Saudi Arabia made it clear that high oil prices were hurting the American consumer and could cause an economic slowdown. "High energy prices can damage consuming economies," he said amidst signs that the housing crisis was finally spilling over to other sectors of the economy.The Saudi oil minister however gave no assurance about increasing output. He said that the

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-56284850527960198092008-01-13T05:26:00.000-08:002008-01-13T05:57:17.754-08:00

Figures released Friday reveal a weakening financial situation for the US government, with the 2008 fiscal years' first quarter deficit rising 31.3%.The cumulative deficit for the October-December period increased to $105.64 billion from $80.4 billion for the same period a year earlier.The slowing economy led to a slower growth in receipts which fell below increased spending, the Treasury

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-31686779613506228502008-01-12T01:51:00.000-08:002008-01-12T02:56:53.271-08:00

Credit card giant American Express warned Thursday that it will take a 4th quarter charge of $440 million because of slower spending and higher delinquencies last month. The company forecast 4th quarter delinquencies in its managed US lending portfolio will rise to 3.2% from 2.9% in the 3rd quarter, while the write off rate in the portfolio rose to 4.3% from 3.7%. It also expects card members

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-4164225933994863692008-01-09T14:52:00.000-08:002008-01-09T19:30:18.184-08:00

Figures released Tuesday show that consumer spending shot up sharply in November.This was led by an increase in credit card debt and auto loans.After showing a below market expectations increase in October, the November figures show a sharp rebound with consumer borrowing rising at an annual rate of 7.4%.This is compared to a 1% rise in October.The category which includes credit card debt, soared

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-29231835110130841912008-01-09T07:43:00.000-08:002008-01-09T08:23:57.833-08:00

Gold prices made record highs Tuesday, surging above $880 an oz., breaking its previous record of $875 an oz., set in 1980 after events in Iran.Behind the recent stunning rise in gold prices is the steep fall in the value of the US dollar, which has prompted hedge and pension funds as well as long term investors to diversify into gold as an investment. Helping the trend is the growing anxiety

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-35535214240650104192008-01-01T10:24:00.000-08:002008-01-01T10:58:37.879-08:00

Oil was first found in North Dakota in 1951, near Tioga by the Amerade Oil Company. The discovery set off an oil boom in the Western part of the state. Western North Dakota is estimated to hold 400 billion barrels of oil, even more than the Arctic Natural Wildlife Refuge. Yet presently North Dakota produces less than 2% of the nations oil.This is because the oil is located in a geological

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-44225247658385292752007-12-01T05:34:00.000-08:002007-12-01T08:41:55.170-08:00

Before the 1992 Presidential campaign began President George H.W. Bush was considered almost unbeatable. Successful foreign policy developments such as the end of the Cold War and the Persian Gulf War had given him an approval rating of almost 80%. Then James Carville, Clinton's campaign manager, in a moment of inspiration came up with the slogan,'The economy, stupid.' Within a short span of time

Ashishnoreply@blogger.com0tag:blogger.com,1999:blog-3112377361569683603.post-72698002049130604512007-11-27T09:04:00.000-08:002007-11-27T10:28:07.348-08:00

CNBC reports that massive layoffs are being planned by Citigroup Inc., America's largest bank. Faced with huge fourth quarter losses the bank is under pressure to cut costs and another round of job cuts may be the only way out(Citi has already cut jobs once earlier this year).What really ails Citi? Citi has been growing a bit too fast for some time now.It has been picking up foreign banks and

Ashishnoreply@blogger.com0