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Source: news.yahoo.com --- 19 days ago
An anti-rail group is running out of time and options as it continues to push to create a ballot question attempting to stop the city's proposed $4 billion rail transit project. ... Source: news.yahoo.com --- 35 days ago
The Clock atop the Greene County Courthouse in Bloomfield is keeping time again for the first time in years. ... Source: mobile.reuters.com --- 40 days ago
VIENNA (Reuters) - Forty-five nations meet on Thursday to try to bridge differences over a move to lift a ban on nuclear trade with India, needed to seal a U.S.-Indian atomic deal but seen by some as a threat to non-proliferation. ... Source: www.portfolio.com --- 28 days ago
When American International Group was run with an iron hand by Hank Greenberg some years back and the insurer was regularly churning out profits, the only real criticism of the company was that it was a black box. Now that A.I.G. is battling to survive, it is its black box that may save it yet. Black box refers to accounting or investments so complex and arcane that they remain unknown to most investors. In the case of A.I.G, these are credit-default swaps that the company sold as insurance on complex securities, including collateralized-debt obligations . Nearly every bank has some form of derivatives exposure to A.I.G. Ken Lewis, the chief executive of Bank of America, said today that a collapse of the insurer would be a "much bigger problem" than the failure of Lehman. In the "shadow-banking system" of derivatives and complex structured-debt instruments, A.I.G. is at its center. The company may not be too big to fail, but it is too interconnected with banks, hedge funds, and others to allow a destructive chain reaction to erupt through the financial world. As a result, there are more varied efforts to secure a lifeline for A.I.G. than there were for Lehman. Yves Smith on Naked Capitalism notes that A.I.G. is bigger in credit-default swaps than Bear Stearns. "If Bear could not be allowed to fail, A.I.G, certainly can't come apart. But how can the Fed extend a lifeline to a party it doesn't regulate or even have as a counterpart ... Source: www.azstarnet.com --- 20 days ago
After No Child Left Behind got its wheels in 2002, Arizona had a choice: Hurt now or hurt later. ... Source: www.katu.com --- 17 days ago
In a sign of continuing division, House Minority Leader John Boehner demanded that "serious consideration" be given to a radically different proposal that provides no government money up front for a financial rescue. ... Source: www.kentucky.com --- 12 days ago
NEW YORK - The credit markets remained choked Wednesday, keeping key lending rates and demand for Treasurys at lofty levels as investors awaited Congress' decision on the U.S. financial rescue plan. Because of the recent drought in credit market activity, more large companies have been having trouble getting loans at rates they can tolerate - and as a result, they're altering their business plans. President Bush and Congressional leaders on Wednesday expressed optimism that the $700 billion bill to take risky mortgage-backed assets off banks' books would pass, after the addition of a provision that would boost insurance for people's deposits. But investors were not about to cheer just yet. Not only do they remember confidence being high in the days leading up to Monday's vote by the House - which resulted in a rejection of the plan - but they are also unsure how effective the plan will be if it does pass. "It can only be effective if it marshals private confidence," said Citigroup economist Steven Wieting. "Private credit markets, as of yesterday, in some ways have ceased to exist. ... This is a confidence crisis." ... Source: www.katu.com --- 13 days ago
President Bush warned Tuesday that failing to pass a financial rescue plan would bring severe consequences to the U.S. economy. "Congress must act," he declared in an appeal that both presidential candidates echoed. ... Source: www.bnd.com --- 38 days ago
Representatives from Boeing Co. and the Machinists union met with a federal mediator Thursday as the Clock ticked on an unusual two-day contract extension after union production workers soundly rejected a contract offer and voted to strike. ... Source: www.record-eagle.com --- 11 days ago
The credit markets remained choked Wednesday, keeping key lending rates and demand for Treasurys at lofty levels as investors awaited Congress' decision on the U.S. financial rescue plan. ...
Source: www.danwei.org --- 24 days ago
Tim Johnson writes: Less than a month from now, we will find out if China will maintain its attitude of greater openness with the foreign media. My bet is that it won't. At the beginning of the year, China relaxed its rules on the foreign media to fulfill pledges for greater freedoms in the period around the Olympic Games. The measures lapse on Oct. 17. If the old rules come back into play, this is what it means: * Reporters will be required again to seek advance permission from the Foreign Ministry for any trip outside of their base, such as Beijing. * And reporters will no longer be free to interview anyone who agrees to an interview request. Rather, interviews must be vetted by authorities. ... Source: www.minyanville.com --- 27 days ago
It's do or die time for American International Group (AIG). The Clock's ticking - not just for the insurer but for the entire market. Toddo weighs in. Now watch this! Toddo's gazing at Constellation Energy Group (CEG). Lest there were any questions regarding the Lehman Brothers (LEH) domino effect this is a real-time example. Also Morgan Stanley (MS). The stock is quietly down 20%. ... Source: www.newslookup.com --- 29 days ago
Regulators and bankers desperately tried to reach a deal to sell the struggling investment bank and prevent it from flooding jittery financial markets with toxic assets at fire sale prices. ... Source: www.thedeal.com --- 27 days ago
As the Clock Ticks on a capital raising plan for American International Group Inc., the selloff continues as the insurance giant's shares slid 21.22% to close at $3.75 on Tuesday. AIG has lost 70% of its value since its Friday close. AIG's shares fell nearly 55% by just before 5 p.m. in after-hours trading as the market gears up for the Federal Reserve's answer about its funding plan expected Wednesday morning. The banks that may be one key to AIG's capital plans, J.P Morgan Chase & Co. and Goldman, Sachs & Co., had mixed results with J.P. Morgan jumping 10.11% to close at $40.74 and Goldman slipping 1.84% to $133.01. While uncertainty can kill you in the financial sector, certainty certainly pays. Merrill Lynch & Co., whose future is relatively secure thanks to buyer Bank of America Corp. , jumped 30.01% Tuesday to close at $22.18 per share. Bank of America celebrated an 11.30% gain to close at $29.55. Lehman Brothers Holdings Inc., which filed for Chapter 11 bankruptcy protection, had nowhere to go but up Tuesday as the stock climbed 42.86% to 30 cents per share following a report that Barclays plc has inked a deal to acquire some of its assets. The Dow Jones Industrial Average recovered a portion of its historic 500-plus point Monday drop, picking up 141.51 points to close at 11,059.02. - Michael Rudnick ... Source: www.dividend.com --- 30 days ago
According to AP, The Federal Reserve Bank of New York held an emergency meeting Friday night with top Washington policymakers and major financial institutions regarding the future of Lehman Brothers (LEH). Lehman Brothers is/was the fourth biggest U.S. investment bank, is in a race to find a buyer after revealing a restructuring plan it said would [...] ... Source: www.fwicki.com --- 26 days ago
YAHOO! The Economic Crunch: Clock Ticks for homebuyers First-time owners' assistance program deadline looms By Don Wade , Memphis Commercial Appeal Tuesday, September 16, 2008 Martha Green is in a race against ... ... Source: www.topix.com --- 6 days ago
The Pennsylvania House and Senate reconvened Monday afternoon, with lawmakers giving themselves just three more days before closing the session and heading home to campaign. ... Source: www.imageyenation.com --- 41 days ago
It's official! The forthcoming fourth album from Mike Skinner's The Streets is a return to form! Or so sez I after seeing the new video for the title track "Everything Is Borrowed." Like the leaked track "The Escapist" it's on some downtempo orchestral Boom-Bap Folk-Hop shit. And it's fucking stellar! That the video is downright poignant helps wipe away the crass, calculated crap that was 'The Hardest Way to Make an Easy Living' as well. 'Everything is Borrowed' is due out in the UK on September 15th via 679 Recordings. Vice Records will be handling the release in North America soon after. ... Source: www.eedaily.com --- 34 days ago
When the 110th Congress began almost two years ago, the question before lawmakers was not whether to extend renewable energy project tax credits beyond their end-of-2008 expiration date, but for… ... Find more results for Clock Ticks on RSSMicro.com |
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Yesterday evening President Bush signed into law the massive Omnibus bill that was approved by the Senate on Saturday and the House last Wednesday. HR 2638 includes a more than $600 billion continuing resolution package that keeps the federal government running through March 6, when the bills and the checkbook will be someone else's problem. Such a huge bill usually would dominate the end-of-session agenda with fanfare, photo ops and press coverage, but has received little attention and fallen off the radar of most media outlets due to the domination of discussions on the congressional bailout of Wall Street. The continuing resolution was needed because Congress had not passed any of the 12 annual appropriations that fund government programs. Democrats in the House blame this on the president who had issued a pre-emptive threat earlier this year to veto any bill that spent more than he recommended. President Bush expressed disappointment in the outcome, but praised the bill allowing the ban on offshore oil exploration and oil shale production to expire. While most programs will be funded at fiscal 2008 levels under the continuing resolution, it does include the fiscal 2009 spending bills for Defense, Military Construction - Veterans' Affairs, and Homeland Security. It also includes $22.9 billion for disaster relief, $2.5 billion for Pell Grants, $5.1 billion for low-income heating assistance, and a $25 billion loan program to ba ...