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  • Business and union leaders have reached an agreement on pay levels for a guest worker program for low-skilled temporary jobs, thereby clearing the way for a bipartisan group of senators to introduce legislation that would allow 11M illegal immigrants to eventually gain citizenship. "This issue has always been the deal breaker on immigration reform, but not this time," said Senator Charles Schumer. [View news story]
    Another nail in our coffin.
    Mar 31 10:20 AM | Likes Like |Link to Comment
  • The meat scandal in Europe touches Yum Brands (YUM -0.5%) after the company is forced to disclose to the Food Standards Agency in the U.K. that it found supplier samples for Taco Bell which tested positive for horsemeat. The timing isn't great after the company already saw its financial results rocked by a chicken contamination issue in China. Execs say Yum Brands has discontinued buying from the supplier in question. [View news story]
    Luv dem Mr.Ed burgers.
    Mar 1 10:22 AM | 2 Likes Like |Link to Comment
  • The NYT backs President Obama's call to increase the minimum wage, although it wants the figure raised further than Obama's "low-ball" proposal of $9/hour. "The argument that a higher wage will kill jobs has been debunked by a range of studies," while it also boosts productivity," the NYT writes. Over on Reuters, Reihan Salam calls the minimum wage "a poor solution," saying there are better, more targeted anti-poverty policies, such as tax credits. [View news story]
    Let's just make it a $1000. per hour so we can all get rich and end poverty forevah!!!!
    Feb 18 12:33 PM | Likes Like |Link to Comment
  • Energy Secretary Steven Chu announces plans to resign; he says he will remain in his post until the end of February and may stay longer if a successor has not been confirmed. Chu's four-year tenure was marked by milestones in green energy spending and the collapse of solar company Solyndra. [View news story]
    Sayonara!!!!!!!!!
    Feb 1 12:47 PM | Likes Like |Link to Comment
  • W.W. Grainger (GWW -0.1%) agrees to pay the government $70M to resolve allegations that it submitted false claims under contracts with the GSA and the U.S. Postal Services. GWW agreed to sell hardware products and other supplies to government customers through the GSA’s Multiple Award Schedule program, but failed to inform the agency about discounts provided to other customers. Consequently, the government claims it wound up paying higher prices than it should have. [View news story]
    Must be owned by Republicans!!!
    Dec 26 05:18 PM | Likes Like |Link to Comment
  • Wal-Mart (WMT) reportedly plans to deny health insurance to new employees who work fewer than 30 hours/week. The policy change will use an Obamacare loophole to shift the costs of health insurance to the government. [View news story]
    How much did Walmart contribute to Obama's campaign?
    Dec 1 04:38 PM | Likes Like |Link to Comment
  • Claiming its BlackBerrys "have been failing both at inopportune times and at an unacceptable rate," the NTSB says it looking to abandon Research In Motion's (RIMM) hardware for iPhones (AAPL). That makes the NTSB the latest in a string of government organizations to either fully end its BlackBerry use or give employees the option to use alternatives. RIM, which just received FIPS 140-2 security clearance for BlackBerry 10, says it has 1M government customers in North America. [View news story]
    Good news for Apple.
    Bad news for the taxpayers who pay the bill.
    Nov 21 08:07 AM | 1 Like Like |Link to Comment
  • "Failure to avoid the fiscal cliff and raise the debt ceiling in a timely manner as well as securing agreement on credible deficit reduction would likely result in a rating downgrade in 2013," says Fitch, in a note titled, "No Fiscal Honeymoon for President Obama." (Moody's earlier[View news story]
    QE 4 EVAH !!!

    Damn the torpedoes! Full speed ahead!!
    Nov 7 03:09 PM | Likes Like |Link to Comment
  • Pres. Obama could revive efforts to curb greenhouse gas emissions and more strictly regulate the activities of oil and gas drillers. “It is our bet that that we will witness more stringent regulation and greater friction - permitting challenges, environmental hurdles - in the system in order to appease the winning coalition," energy research firm Simmons & Co. says. [View news story]
    Welcome to the EPA of the Peoples Republic of the U.S.S.A.
    Nov 7 02:35 PM | Likes Like |Link to Comment
  • Moody's reiterates a U.S. credit downgrade is possible if the deficit is not addressed, but will wait until 2013 budget negotiations are complete before taking any action. The failure of to reach agreement - and slide over the fiscal cliff - would not necessarily mean an automatic downgrade [View news story]
    All hail the Obama recovery!!!!
    Nov 7 12:40 PM | Likes Like |Link to Comment
  • As Apple (AAPL +4%) gets ready to unveil a smaller and cheaper iPad, the education market is taking center stage. Schools and colleges have already begun buying iPads en masse - education-related iPad sales doubled Y/Y in the June quarter - and the iPad Mini launch could accelerate this trend. Among Apple's efforts to cater to educational institutions: dedicated sales teams, regular meetings with school officials, financing for volume orders, and a digital textbook initiative[View news story]
    Think they need that 40lb backpack to keep them from becoming obese.
    Oct 22 07:50 PM | 3 Likes Like |Link to Comment
  • The jobs report today was good, observes Pimco's Mohamed El-Erian, but markets won’t be able to push much higher until the economic fundamentals strengthen. “So far, we’ve had a rally based on chopping off the tails of catastrophe," he says. "But in order to keep going, we need the hand-off to fundamentals. And today’s employment report, while better, is not strong enough for that hand-off.” If fundamentals don't catch up to valuations soon, the equity markets will start coming down. [View news story]
    Obama rules!!! 4 more years!!! YAY!!!
    Oct 5 08:26 PM | 5 Likes Like |Link to Comment
  • Data mining the speeches of Chinese Premier Wen Jiabao shows "confidence," when it becomes a key focus, could be code for imminent stimulus. Yesterday: "We must increase our confidence. Leaders at every level of government must have confidence. Companies in every industry must have confidence. All of society must have confidence." [View news story]
    Confidence is the long-form of Con Game.
    Aug 16 11:35 AM | Likes Like |Link to Comment
  • Gold demand of 990 tons in Q2 was off 9% Y/Y, reports the World Gold Council (.pdf). Demand was lower across all sectors - jewellery, technology, investment - except central banks, which doubled their net purchases to 157.5 tons in Q2. Supply? At 1,059.1 tons, its was off 6% Y/Y. [View news story]
    Why are CB's buying gold?

    Isn't their paper of greater value?
    Aug 16 10:10 AM | Likes Like |Link to Comment
  • Phillips 66 (PSX) is ordering 2,000 rail cars to transport up to 120K bbl/day of crude from the North Dakota oilfields to its refineries on the east and west coasts of the U.S., CEO Greg Garland tells FT. Moving oil by rail is generally more expensive than using a pipeline, but Garland doesn't expect any new pipes built to connect North Dakota to  coastal refineries anytime soon.  [View news story]
    Makes Warren Buffet happy!!!!
    Jun 7 06:36 PM | 1 Like Like |Link to Comment
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