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Pelosi and Reid Are A Danger To Capitalism

9. November 2008

2 Comments

Can you believe this shit?  The top two Democrats in Congress are urging Paulson to grant aid to the Big 3 auto manufacturers.   I don’t remember anyone asking the American public about this.  Where is the vote?  What gives Paulson, Reid or Pelosi any right to bail out individual businesses as they see fit? The end [...]

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The Death Of GM

7. November 2008

5 Comments

This might just be the first of our Big 3 American autos that will go under.  Bloomberg sites that GM has lost $73 billion since the end of 2004 and that it may run out of dinero by year-end without additional funding. American auto manufacturers have been crapping out ugly looking and unreliable cars for the [...]

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After 57 Days, Boeing Is Back Online

2. November 2008

0 Comments

Some of the key deal points reached today between Boeing and the machinist union: 15% raise over four years (sounds fair) Union workers will do the delivery work that suppliers would generally handle (this sounds like bullshit) Maintenance workers can’t get canned if subcontractors are doing similar work (bullshit) The union cost Boeing $10.3 million per day (over $.5 [...]

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Iceland Might Declare Bankruptcy

28. October 2008

1 Comment

This is crazy…apparently Iceland’s government may declare bankruptcy if it doesn’t get the $2.1 billion in aid it’s asking for. The Fed has been on a tear lately buying up all of Wall Street…seems like the Fed should consider buying up countries as well.  Though I’m not sure what Iceland has to offer…oil?

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Corporate Bonds Looking Hot And Sexy

26. October 2008

2 Comments

If you’re a Treasurer who feels like making some ballsy moves in the market, you should give corporate bonds a look.  With a flight to safety and high quality investments, corporate bonds are offering some serious “equity-like” returns, says UBS.  Yes, there is risk…but you have some very big names like Citi, AMEX, IBM and [...]

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The Nostradamus of Finance

24. October 2008

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Have you heard of Dr. Doom…ahem, I mean, Dr. Nouriel Roubini? This guy is the grim reaper of economics…and his predictions have been spot on. Try not to shit your pants when you read his latest forecast for our economy…it will have you stocking up on water, food and ammo. Does Costco sell ammo? Yikes!

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Accountants Always Have Jobs

24. October 2008

15 Comments

Accountemps just released unemployment rates for accounting related fields and the news is good (at least the stats Accountemps wants you to see are good). The U.S. unemployment rate currently stands at 6.1% and the rate for accounting related fields is a helluva lot lower. The accounting field is highly industry agnostic. Great markets, [...]

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AIG Execs Salaries Frozen

22. October 2008

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This puts a smile on my face… From Reuters - “This is to confirm that AIG has agreed to freeze any payments pursuant to the employment package of its former Chief Executive Officer Martin Sullivan in light of the attorney general’s ongoing review,” After they do that, I think the Gov’t should throw a lien on Sullivan’s [...]

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Ticketmaster Thins Out

22. October 2008

1 Comment

My alma mater, Ticketmaster, has axed 5% of its staff today. Amongst the deadpool is apparently the US Controller of the Company, a position I previously reported into. TM is coming under incredible shareholder pressure as the stock price has plummeted since its August IPO and lost more than half its market [...]

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Big 4 To The “Rescue”

22. October 2008

3 Comments

Like superheros called upon to save Earth, both E&Y and PWC have been deputized to provide accounting and internal control support services to Treasury’s bailout of the financial sector. At least Treasury is finally admitting that they are in over their head on these issues….

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