Archive for the Economy Category
Fashion Giants Strike a Deal
Tommy Hilfiger and Calvin Klein, two large and near-iconic American fashion companies, are joining forces. Both companies are at the height of the style, which is why CK parent Phillips-Van Heusen plans to spend a pretty penny to take ownership of the company.
The deal will be worth roughly $3 billion dollars in cash and stock, [...]
Toyota Tells California Man to Pump Breaks on Story
Embattled automaker Toyota has roundly rejected the account of a California man who claimed his Toyota Prius accelerated well out of control last week. Toyota initially investigated the report, but after it was not feasible to recreate the mishap with the vehicle, Toyota declared that the man’s story was likely incorrect.
The hybrid allegedly accelerated to [...]
GMAC Executive Compensation Curtailed
This is a dark day for the wealthy executives of GMAC Inc. the former financing arm of the U.S. automaker GM.
The Obama administration’s pay czar is limiting 2010 compensation for top executives at GMAC Inc. because the auto finance giant continues to lose money and can’t yet repay its $16.3 billion taxpayer bailout, according to [...]
Sen. Dodd Ponders Next Move for Financial Regulation Bill
Chris Dodd is no stranger to controversy in these final months of his political as a senator. After Dodd all but abandoned a re-election bid due to dismal chances of winning, it was thought that his political clout was also relegated to the same level of effectiveness.
But senator Dodd has at least been legislatively active [...]
Short Sales Just Got Shorter
When congress realized the housing bubble was truly burst two years ago, they immediately set about making sure the damage was repaired quickly, effectively, and to the benefit of the American homebuyer, the vanguard of the American Dream.
Two years later rules take effect to quickly stop people from losing their…well maybe quickly isn’t the right [...]
Where is this Oft-Mentioned Recovery?
Yes Virginia, there is a recovery. Though you might not believe me if I told you, The Federal Reserve reported Thursday that the net worth of U.S. “households” increased at about a 5% annual rate in the fourth quarter of last year, which while a good deal slower than the blistering 20% pace America enjoyed [...]
Should the Government Have Closer Eye on Car Safety?
In the wake of Toyota’s devastating recall and subsequent quagmire of issues, many have wondered if regulatory agencies were effective in bringing the problem to light, and who should bear responsibility for the future in these kinds of safety lapses.
Government vehicle safety regulators may seek greater authority to investigate defects in cars and trucks and [...]
