Business

National Investigation by the New York City Mayor’s Office: The Mormon Church owns one of the most active and unregulated gun sale portals on the web

February 6, 2012

“The website in question is KSL.com, the online hub for Utah’s NBC affiliate and sister radio station, which are both owned and operated by the for-profit arm of the Mormon Church. In addition to local news, KSL.com produces a popular classifieds section that reaches millions of users well beyond Utah.”

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The U.S. Treasury to Wall Street: One of the U.S. Government’s many revolving doors

February 6, 2012

“Last week alone, Lazard announced that Ron Bloom, one of its former bankers who later managed the government’s rescue of the US car sector, was returning to the firm as a senior adviser; and it emerged that Goldman Sachs was close to hiring Jake Siewert, a former top aide to Tim Geithner, the Treasury secretary.”

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Foreclosure settlement between Banks and America’s 50 States unlikely to have the positive outcomes that investors have been hoping for

February 5, 2012

“A foreclosure settlement between the banks and the 50 states Monday, if it does finally happen, will likely not have the positive outcomes that investors have been hoping for. Details of the deal emerging from recent press reports suggests that the states, while requiring banks to address their foreclosure procedures and reduce principal on mortgages, might not grant them any real immunity from future mortgage litigation.”

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Micron Technology Inc. CEO Steve Appleton, 51, dies in a plane crash

February 4, 2012

“The image Steve Appleton cultivated as a stunt pilot and off-road rally driver became the perfect metaphor for his wild, 18-year ride as the leader of Micron Technology Inc. Appleton, Micron’s chief executive officer, died Friday morning when his experimental plane crashed at the Boise Airport, west of Micron’s desert campus.”

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Fast food chain Taco Bell linked to 68 cases of salmonella in 10 states

February 2, 2012

“Yum Brands Inc.’s Taco Bell chain was investigated by the Centers for Disease Control and Prevention (CDC) for involvement in a salmonella outbreak that sickened 68 people in 10 states, Food Safety News reported Wednesday.”

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Honda loses negligence case in a Los Angeles County Small Claims Court for the company’s false claim that its hybrid vehicle could reach 50 miles per gallon

February 2, 2012

“A Los Angeles County court commissioner ruled that American Honda Motor Co. negligently misled Civic owner Heather Peters when it claimed the hybrid could achieve as much as 50 miles per gallon.”

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A group of internet hackers calling themselves “Anonymous Brasil” takes down the website of Banco do Brasil, Brazil’s largest state-run bank

February 1, 2012

“A group of Internet hackers says it has taken down the website of the Banco do Brasil, Brazil’s largest state-run bank. It’s the third such attack against financial institutions in a week. Banco do Brasil says in a statement that its website was not down but was “slowed down” by a flood of traffic.” The Associated Press was unable to access the site.”

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American Airlines slashes 13,000 jobs, announces the closure of its Fort Worth Alliance Maintenance Hub in Texas

February 1, 2012

“Fort Worth-based AMR, the parent company of American Airlines, said Wednesday they will cut 13,000 jobs and close the Fort Worth Alliance maintenance hub. Laura Glading, president of The Association of Professional Flight Attendants, issued a statement Wednesday saying the company’s betrayal of the flight attendants continues as the airline pushes to reduce the number of flight attendants by thousands.”

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President Obama hopes to ride momentum from the auto bailout into his 2012 re-election campaign

February 1, 2012

“The Associated Press says for Obama, the auto bailout is a case study for his efforts to revive the economy and a potential point of contrast with Republican Mitt Romney, who opposed Obama’s decision to pour billions of dollars into the auto companies. If Romney wins the GOP nomination, expect to hear a lot about the car industry.”

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Officials believe that much of the $1.2 billion missing from MF Global will never be recovered

January 30, 2012

“As the sprawling probe that includes regulators, criminal and congressional investigators, and court-appointed trustees grinds on, the findings so far suggest that a “significant amount” of the money could have “vaporized” as a result of chaotic trading at MF Global during the week before the company’s Oct. 31 bankruptcy filing, a person close to the investigation was cited as saying Monday.”

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Spain’s fourth-largest airline, Spanair, abruptly collapses, leaving 20,000 passengers stranded across the globe

January 30, 2012

“Spain’s fourth-largest airline Spanair has collapsed, leaving more than 20,000 passengers stranded across Europe and Africa. The Barcelona-based firm stopped operating on Friday and more than 200 flights were abruptly cancelled. The Spanish government is taking legal action and said Spanair could be fined 9m euros (£7.6m; $11.9m) over the collapse.”

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The U.S. Treasury increases its estimate of government losses in the automobile bailout by $170 million

January 30, 2012

“The U.S. Treasury Department boosted its estimate of government losses in the $85 billion auto bailout by $170 million. In the government’s latest report to Congress this month, the Treasury upped its estimate to $23.77 billion, up from $23.6 billion.”

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In the last week, three Green companies that received stimulus funds [Evergreen Energy, Ener1, & Amonix Inc.] either filed for bankruptcy or cut over half their workforce

January 29, 2012

“Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.”

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George Soros may benefit from the White House’s natural gas proposal

January 26, 2012

“The proposal would offer incentives for companies to buy and use trucks powered by natural gas. Obama announced the effort at a UPS facility in Las Vegas that received stimulus funding to buy natural gas vehicles and build a fueling station for them. The proposal is remarkably similar to the New Alternative Transportation to Give Americans Solutions (NAT GAS) Act.”

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Research: Consumers give Google over $5,000 worth of personal information every year

January 25, 2012

“New research finds people fork over $5,000 worth of personal information a year to Google in exchange for access to its “free services” such as Gmail and search. While many view this as a fair trade, privacy experts say the Internet giant’s latest plan to pool user data from its various sites make it less so.”

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