Archive for August, 2009
Freedom Communications set to file Chapter 11
Freedom Communications will likely be filing for Chapter 11 bankruptcy this week. The plan, allegedly, will hand the owners of 31 newspapers to its lenders. Freedom’s bankruptcy will probably wipe out the 45 percent equity stake held by two big private equity firms, the Blackstone Group and Providence Equity Partners.
From the Wall Street Journal:
Freedom Communications [...]
Disney makes news with huge acquisition
Disney announced a deal this morning that is, well, big… even for Disney.
Disney will acquire Marvel Entertainment for near $4 billion ($50 per Marvel share). The acquisition price represents a 30% premium to Marvel’s current share price.
If you ask me, this is a great move, for both. Disney’s excellent distribution will be able to exploit [...]
U.S. government actually makes a profit from bailout money — Who knew that was possible?
The NY Times reported yesterday that the U.S. government has brought in somewhere around $4 billion in profits as big banks repay their debts from last year’s bailout.
This is really good news for Obama and company, not to mention American taxpayers, as critics of the $700 billion bailout were positive that the Treasury Deprtment were [...]
Watermelons may be saving you a lot of money the future
You’ve heard of people running their car on vegetable oil. Well how about fruit juice? According to a new study by the U.S. government, unwanted watermelon juice could be a useful new source for creating biofuel ethanol…and beer!
“Up to a fifth of all watermelons grown each year have odd shapes or scarred rinds that turn [...]
Barney Frank says he will get Ron Paul’s Fed audit bill passed
Barney Frank has been pushing for more transparency within the Fed for some time. It seems that now he may finally get it.
The Washington Times reports:
“House Financial Services Chairman Rep. Barney Frank, Massachusetts Democrat, said he expects former GOP presidential candidate Ron Paul’s legislation to audit the Fed to pass out of his committee in [...]
Southwest wrapped up in an investigation over unapproved parts
Not twenty-four hours after I booked my flight across the country on super discount airline, Southwest, this story comes out. Now I feel very safe…
I guess I understand, now, why they are so inexpensive.
From WSJ:
Federal air-safety regulators have launched an investigation into how unauthorized parts were installed on at least 42 Southwest Airlines Co. jets, [...]
New unemployment report is released by DOL — Do you want the good news or the bad news first?
The US Department of Labor just released a report that says unemployment in the US has…drum roll please…DECREASED!
The number is still terribly high, but still, this is good news.
From http://www.workforcesecurity.doleta.gov/press/2009/082709.asp
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SEASONALLY ADJUSTED DATA
In the week ending Aug. 22, the advance figure for seasonally adjusted initial claims was 570,000, a decrease of 10,000 [...]
