Personal Finance Story Blog

Tobacco Rules Challenged In Free Speech Lawsuit

2009-09-21T23:03:00.001-07:00

Tobacco Rules Challenged In Free Speech Lawsuit

http://online.wsj.com/article/SB125174788118073575.html?mod=googlenews_wsj

Several tobacco companies such as Reynolds American Inc and Lonillard have filed a lawsuit seeking to block some provisions of a new federal tobacco law. These companies claim that the recently enacted law restricts their right to advertise their products by putting them under the ambit of the Food & Drug Administration. The companies are also objecting against provisions such as that make it mandatory for them to expand the size of warning labels besides including graphic images such as diseased lungs. This requirement will leave only a small portion of the packaging to display their own message, the companies argue. Although these companies are not against the provisions restricting the sale of their products to minors refinance mortgage , they are questioning the regulations related to sale to adults. The law restricts the number of channels available to communicate with the adults, the companies say.

US Cities Slash Services Owing To Economic Slump

2009-09-09T23:46:00.000-07:00

US Cities Slash Services Owing To Economic Slump

http://www.reuters.com/article/GCA-Economy/idUSTRE5800TX20090901

A report released by the National League of Cities has revealed that almost all US cities are cutting down on their spending to offset the decline in revenues due to current economic slump. The report also reveals that the worst is yet to come with further decline in revenues expected over the coming months. The revenues of all US cities is expected to decline by 0.4% by the end of the current calendar year while the costs are expected to rise by 2.5%. What needs to be remembered is that the changes in the economic position of the cities lag that of the nation as a whole since their property tax bills are set when the value of the real estate is actually reassessed. Consequently the true impact of the decline in the housing values is yet to be realized by the cities and thus property tax revenues are expected to decline in the coming years.

Can We Expect A Merger Between Microsoft And Yahoo?

2009-04-13T05:35:00.000-07:00

Can We Expect A Merger Between Microsoft And Yahoo?

http://www.usatoday.com/money/industries/technology/2009-04-10-reports-microsoft-yahoo-talks_N.htm

With the recent linkups between Microsoft and Yahoo chiefs, speculations of a possible merger are high. Though we don’t have the details to the inside story, rumors of a significant business deal is doing rounds.

This meeting between the two computer giants is all the more in limelight after Yahoo walked away from Microsoft's unsolicited offer for buyout worth $47.5 billion in year 2008.

So is Yahoo having second thoughts now? Whether we going to see a combined company of Microsoft and Yahoo, only time will tell! But if such a merger does take place, imagine the speed with which you will be able to download or Google for information. Just imagine!

Obama’s Post-Bubble Economic Growth Model

2009-03-29T22:32:00.000-07:00

Obama’s Post-Bubble Economic Growth Model

http://news.yahoo.com/s/ap/20090314/ap_on_go_pr_wh/obama_economy;_ylt=Am0zrLJ6UR9lr1eHVp7HN62yBhIF

The crisis is not as bad as we think. Well, at least that is the message the Obama government is trying to convey. Obama has said that his administration is working to create a "post-bubble" model for a concrete economic growth once the recession ends. This means that the days of overheated housing markets and maxed-out credit cards are over.

The President and his team are trying to rebuild the lost confidence by making positive comments and even suggesting that it was a good time for those with a long-term perspective to buy stocks.

Obama also reminds us that we all have to do our bit to overcome the crisis. Such encouraging comments from the nation’s head definitely act as a moral booster for all of us.

Buffet Says US Economy In Shambles

2009-03-15T22:52:00.000-07:00

Buffet Says US Economy In Shambles

http://uk.reuters.com/article/gc04/idUKTRE51R0US20090301?pageNumber=3&virtualBrandChannel=0

Losses on derivative contracts tied to the stock markets had a negative impact on Warrant Buffet’s insurance and investment company Berkshire Hathway’s performance in recent months. Berkshire Hathway’s net worth tumbled $10.9 billion in the year's final quarter while its profits declined by a sharp 96%. Buffet has informed his shareholders that the US economy was in shambles and is expected to remain so the whole of 2009 and maybe beyond that. He however, remained optimistic about the ability of the Americans to withstand any situation while praising the government’s efforts to stem the crisis. The continued deterioration in the US economy and tight credit situation has resulted in a sharp decline in stock prices and increased junk bond defaults causing significant losses for Berkshire.

Central Banks Need To Consider The Option Of Buying Corporate Debt

2009-03-01T21:01:00.000-08:00

Central Banks Need To Consider The Option Of Buying Corporate Debt

http://www.ft.com/cms/s/0/df28b9bc-fc19-11dd-aed8-000077b07658.html?nclick_check=1

The central banks of Europe and the governments must consider buying corporate debt on an emergency basis in order to prevent businesses from going bankrupt, says the leader of the European Union’s employers’ federation. The proposal by Ernest-Antoine Seillière, President of BusinessEurope emphasized the concern of several companies about securing access to credit.

Additionally, the EU authorities and the governments in the 27-nation bloc have taken up fiscal stimulus packages which increase the public expenditure like unemployment benefit. However, none of the European presidents, prime ministers or the central bank governors have taken heed to Mr Seillière’s suggestion. This has disappointed Mr Seillière to a great extent. Banks too are not willing to lend to private companies in Europe.

Sad Statistics But Soaring Hopes

2009-02-15T21:51:00.000-08:00

Sad Statistics But Soaring Hopes

http://www.usatoday.com/money/economy/2009-02-06-job-losses-january_N.htm

‘For the first time’ in 16 years, the unemployment rate reached 7.6% in January 2009. ‘For the first time’ since 1974, employers laid off 598,000 workers. ‘For the first time’, the unemployment rate rose by 54% in one year.

December 1982 was the last recession in US history. And that is a long time ago. But these ‘many firsts’ today remind us that history repeats itself. What goes round, comes round, one day.

Recession has snarled and sneered at us many times in the last few months. Now, it’s time to sock it on its face. Let’s get geared to tackle recession head-on. The government is out to lead the way. Let’s make a beginning.

Honesty Is All We Want Of You!

2009-01-28T22:51:00.000-08:00

Honesty Is All We Want Of You!

http://www.moneymorning.com/2009/01/06/us-banks-federal-bailout/

US banks have refused to provide the details of how they are spending the bailout money being given by the government. JP Morgan received a $25 billion federal aid but has refused to divulge their spending details. Other banks are also following their footsteps. There are even speculations that our banks are indulging in buyouts deals instead of giving loans at home.They are receiving billions of dollars, money that honest tax payers have given and continue to give to the government. Then how can the banks refuse to turn their backs at us? How can they refuse us the transparency we demand to see in their spending? Is asking for honesty too much for them? Has recession really knocked them out of their senses?