Depends on where you live. You can find that in my oil/gas thread though.
It is going up however which will affect this economy even more again.
I am now boycotting Sara Lee foods.
12-11-2008 Sara Lee Corp., known for food brands such as Jimmy Dean and Hillshire Farm, said it will cut 700 jobs as it outsources parts of its business.
Several large U.S. employers announced layoffs this week, including Dow Chemical Co., 3M Co., Anheuser-Busch InBev, National Public Radio and the National Football League.
The four-week average of new jobless claims, which smooths out fluctuations, is now a seasonally adjusted 540,500. That's the highest since December 1982, when the economy was emerging from a deep recession.
The number of people continuing to claim jobless benefits also jumped much more than expected, increasing by 338,000 to 4.4 million, the department said. Economists had expected a small increase to 4.1 million.
New claims for jobless benefits surged last week and came in worse than expectations that were already gloomy ? and economists say the figures would get even worse without an auto industry bailout.
Initial applications for unemployment benefits rose to a seasonally adjusted 573,000, the Labor Department said Thursday. That was nearly 50,000 more than economists were expecting and up from a revised 515,000 the week before.
Besides Bank of America's announcement, more layoffs in other industries were announced Thursday. Tool maker Stanley Works said it plans to cut 2,000 jobs and close three manufacturing facilities.
12-11-2008 Sara Lee Corp., known for food brands such as Jimmy Dean and Hillshire Farm, said it will cut 700 jobs as it outsources parts of its business.
Several large U.S. employers announced layoffs this week, including Dow Chemical Co., 3M Co., Anheuser-Busch InBev, National Public Radio and the National Football League.
The four-week average of new jobless claims, which smooths out fluctuations, is now a seasonally adjusted 540,500. That's the highest since December 1982, when the economy was emerging from a deep recession.
The number of people continuing to claim jobless benefits also jumped much more than expected, increasing by 338,000 to 4.4 million, the department said. Economists had expected a small increase to 4.1 million.
New claims for jobless benefits surged last week and came in worse than expectations that were already gloomy ? and economists say the figures would get even worse without an auto industry bailout.
Initial applications for unemployment benefits rose to a seasonally adjusted 573,000, the Labor Department said Thursday. That was nearly 50,000 more than economists were expecting and up from a revised 515,000 the week before.
Besides Bank of America's announcement, more layoffs in other industries were announced Thursday. Tool maker Stanley Works said it plans to cut 2,000 jobs and close three manufacturing facilities.
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
I want to be sure I'm not missing something. You're boycotting them because they laid people off? Does that mean you'll only visit growing businesses, such as Walmart, which gets vast amounts of its product from outsourced China?
BTW, good first step on cutting out the junk. I know it's hard, but baby steps...
:roll: No because they sent the operations overseas.
You're not upset because now they'll be adding to the trade deficit too.
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
Most of the electronics in your house were outsourced as were various components on your car (even if it's a "domestic") as are plenty of food items in your house, whether it's the food or the bottle/packaging. That is a battle you've already lost; you will never win it.
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
12-11-2008 Bernard Madoff arrested over alleged $50 billion fraud
Bernard Madoff, a long-time fixture and powerful adviser on Wall Street, was arrested and charged on Thursday with allegedly running a $50 billion Ponzi scheme, U.S. authorities said.
The former chairman of the Nasdaq Stock Market who remains a member of Nasdaq OMX Group Inc's nominating committee, is best known as the founder of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he founded in 1960.
But the alleged fraud involved a hedge fund he ran from a separate floor of the building where his brokerage is based.
The $50 billion allegedly lost to investors would make Madoff's fund one of the biggest frauds in history. When Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets.
Prosecutors charged Madoff, 70, with a single count of securities fraud. They said he faces up to 20 years in prison and a fine of up to $5 million.
"Madoff stated that the business was insolvent, and that it had been for years," Lev Dassin, acting United States Attorney for the Southern District of New York, said in a statement.
Authorities said that, according to a document filed by Madoff with the U.S. Securities and Exchange Commission (SEC) on January 7, 2008, Madoff's investment advisory business served between 11 and 25 clients and had a total of about $17.1 billion in assets under management.
Bernard L. Madoff Investment Securities has more than $700 million in capital, according to its website.
It is a market maker for about 350 Nasdaq stocks, including Apple, EBay and Dell, according to the website.
Bernard Madoff, a long-time fixture and powerful adviser on Wall Street, was arrested and charged on Thursday with allegedly running a $50 billion Ponzi scheme, U.S. authorities said.
The former chairman of the Nasdaq Stock Market who remains a member of Nasdaq OMX Group Inc's nominating committee, is best known as the founder of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he founded in 1960.
But the alleged fraud involved a hedge fund he ran from a separate floor of the building where his brokerage is based.
The $50 billion allegedly lost to investors would make Madoff's fund one of the biggest frauds in history. When Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets.
Prosecutors charged Madoff, 70, with a single count of securities fraud. They said he faces up to 20 years in prison and a fine of up to $5 million.
"Madoff stated that the business was insolvent, and that it had been for years," Lev Dassin, acting United States Attorney for the Southern District of New York, said in a statement.
Authorities said that, according to a document filed by Madoff with the U.S. Securities and Exchange Commission (SEC) on January 7, 2008, Madoff's investment advisory business served between 11 and 25 clients and had a total of about $17.1 billion in assets under management.
Bernard L. Madoff Investment Securities has more than $700 million in capital, according to its website.
It is a market maker for about 350 Nasdaq stocks, including Apple, EBay and Dell, according to the website.
I said this was going to happen:
12-12-2008Angry UAW members lash out at Southern senators
UAW lashes out at senators in Southern states with foreign car plants after auto aid bill dies
Festering animosity between the United Auto Workers and Southern senators who torpedoed the auto industry bailout bill erupted into full-fledged name calling Friday as union officials accused the lawmakers of trying to break the union on behalf of foreign automakers.
Kentucky, Tennessee and Alabama all house auto assembly plants from foreign automakers, and union officials contend the senators want to drive UAW wages down so there would be no reason for workers at the foreign plants to join the union.
"They thought perhaps they could have a twofer here maybe: Pierce the heart of organized labor while representing the foreign brands," UAW President Ron Gettelfinger said at a Friday morning news conference in Detroit.
"There's a lot at stake. If Republicans think now they can tarnish labor, it's going to be difficult to pass the Employee Free Choice Act," said Gary Chaison, professor of labor relations at Clark University in Worcester, Mass. "The unions are going to say that a strong labor movement is good for America. One of the things Republicans are trying to show now is that a strong labor movement isn't good for America."
"What this is is the Southern conservative senators trying to destroy the United Auto Workers, trying to destroy unions," said Mike O'Rourke, president of a UAW local at a GM factory in Spring Hill, Tenn., Corker's home state. "It's a sad day in America when the senators turn their back on Main Street."
12-12-2008Angry UAW members lash out at Southern senators
UAW lashes out at senators in Southern states with foreign car plants after auto aid bill dies
Festering animosity between the United Auto Workers and Southern senators who torpedoed the auto industry bailout bill erupted into full-fledged name calling Friday as union officials accused the lawmakers of trying to break the union on behalf of foreign automakers.
Kentucky, Tennessee and Alabama all house auto assembly plants from foreign automakers, and union officials contend the senators want to drive UAW wages down so there would be no reason for workers at the foreign plants to join the union.
"They thought perhaps they could have a twofer here maybe: Pierce the heart of organized labor while representing the foreign brands," UAW President Ron Gettelfinger said at a Friday morning news conference in Detroit.
"There's a lot at stake. If Republicans think now they can tarnish labor, it's going to be difficult to pass the Employee Free Choice Act," said Gary Chaison, professor of labor relations at Clark University in Worcester, Mass. "The unions are going to say that a strong labor movement is good for America. One of the things Republicans are trying to show now is that a strong labor movement isn't good for America."
"What this is is the Southern conservative senators trying to destroy the United Auto Workers, trying to destroy unions," said Mike O'Rourke, president of a UAW local at a GM factory in Spring Hill, Tenn., Corker's home state. "It's a sad day in America when the senators turn their back on Main Street."
12-14-2008 US, oil generate two-thirds of Alaska jobs
If federal funds and oil dollars suddenly evaporated from Alaska, two-thirds of the state's jobs would disappear too, according to a new analysis from the University of Alaska Anchorage.
The cash flow from the rest of the state's economic drivers -- including tourism, seafood and air cargo -- support only about a third of the state's jobs, according to the analysis.
Support is the key word.
This analysis is useful because it shows the extent to which the well-being on one person's job depends on the health of other industries and federal dollars, Goldsmith said.
Take the Alaska Native Medical Center, for example. It provides medical care to Alaska Natives and employs roughly 1,900 people. The hospital is a local employer, but "mostly federal dollars support it," Goldsmith said.
An example of how a job in one industry relies on the activity of another can be shown this way: A state worker, who is paid out of taxes on oil production, purchases a newly built house, eats at his neighborhood restaurant, buys groceries from the supermarket and shops at the mall. Multiply this by thousands of state workers and lots of construction, restaurant, supermarket and mall jobs depend on oil production.
If federal funds and oil dollars suddenly evaporated from Alaska, two-thirds of the state's jobs would disappear too, according to a new analysis from the University of Alaska Anchorage.
The cash flow from the rest of the state's economic drivers -- including tourism, seafood and air cargo -- support only about a third of the state's jobs, according to the analysis.
Support is the key word.
This analysis is useful because it shows the extent to which the well-being on one person's job depends on the health of other industries and federal dollars, Goldsmith said.
Take the Alaska Native Medical Center, for example. It provides medical care to Alaska Natives and employs roughly 1,900 people. The hospital is a local employer, but "mostly federal dollars support it," Goldsmith said.
An example of how a job in one industry relies on the activity of another can be shown this way: A state worker, who is paid out of taxes on oil production, purchases a newly built house, eats at his neighborhood restaurant, buys groceries from the supermarket and shops at the mall. Multiply this by thousands of state workers and lots of construction, restaurant, supermarket and mall jobs depend on oil production.
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
Topic Title: Yeah GOP! Topic Summary: Auto Bailout Appears Dead in Senate as G.O.P. Resists
You between you and Skoorb I should be a millionaire by now if you guys actually paid up on your word.
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
This:
It's the North Vs the South in a whole new light.
So far it's looking like "the South will rise again."
Has nothing to do with this:
UAW lashes out at senators in Southern states with foreign car plants after auto aid bill dies
Fuckin tool.
A bunch of developments this week.
After Wall St disaster huge Ponzi scheme rises to the top.
Bush near miss with two shoes.
Feds lower interest to lowest ever.
Gold going up.
OPEC meeting Wednesday.
Now IRS says have no fear we are here.
They'll take what they can get.
12-16-2008 IRS to help homeowners refinance or sell homes
WASHINGTON ? The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes.
The plan announced by IRS Commissioner Doug Shulman would speed up a process where financially distressed homeowners may request that a federal tax lien be made secondary to liens by the lending institution that is refinancing or restructuring a loan.
Taxpayers will also be able to ask the IRS to discharge, or remove, its claim to a property in certain circumstances where the property is being sold for less than the amount of the mortgage lien.
"We need to ensure that we balance our responsibility to enforce the law with the economic realities facing many American citizens today," Shulman said, stressing that "we don't want the IRS to be a barrier to people saving or selling their homes."
He said the program will focus on those people who ordinarily pay their taxes in full but "because of these extraordinary times are getting behind in their tax payments."
A tax lien occurs when the government makes a legal claim to property as security or payment for a tax debt. The government thus notifies other creditors that it has a claim on the property.
The IRS can rule that its lien will be secondary to another lien, such as that of a lending institution, if it determines that taking a subordinate position will ultimately help with the collection of the tax debt. Taxpayers or their representatives may apply for a "subordination" of a tax lien if they are refinancing or restructuring their mortgage.
Lending institutions generally want their lien to have priority on the home being used as collateral.
Taxpayers may also request a certificate of discharge if they are giving up ownership of the property at an amount less than the mortgage lien if the mortgage lien is senior to the tax lien. A discharge does not relieve a person of the tax that is owed, but it does remove the lien on a particular property such as a home. The IRS would still maintain its lien on other possessions of the taxpayer.
After Wall St disaster huge Ponzi scheme rises to the top.
Bush near miss with two shoes.
Feds lower interest to lowest ever.
Gold going up.
OPEC meeting Wednesday.
Now IRS says have no fear we are here.
They'll take what they can get.
12-16-2008 IRS to help homeowners refinance or sell homes
WASHINGTON ? The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes.
The plan announced by IRS Commissioner Doug Shulman would speed up a process where financially distressed homeowners may request that a federal tax lien be made secondary to liens by the lending institution that is refinancing or restructuring a loan.
Taxpayers will also be able to ask the IRS to discharge, or remove, its claim to a property in certain circumstances where the property is being sold for less than the amount of the mortgage lien.
"We need to ensure that we balance our responsibility to enforce the law with the economic realities facing many American citizens today," Shulman said, stressing that "we don't want the IRS to be a barrier to people saving or selling their homes."
He said the program will focus on those people who ordinarily pay their taxes in full but "because of these extraordinary times are getting behind in their tax payments."
A tax lien occurs when the government makes a legal claim to property as security or payment for a tax debt. The government thus notifies other creditors that it has a claim on the property.
The IRS can rule that its lien will be secondary to another lien, such as that of a lending institution, if it determines that taking a subordinate position will ultimately help with the collection of the tax debt. Taxpayers or their representatives may apply for a "subordination" of a tax lien if they are refinancing or restructuring their mortgage.
Lending institutions generally want their lien to have priority on the home being used as collateral.
Taxpayers may also request a certificate of discharge if they are giving up ownership of the property at an amount less than the mortgage lien if the mortgage lien is senior to the tax lien. A discharge does not relieve a person of the tax that is owed, but it does remove the lien on a particular property such as a home. The IRS would still maintain its lien on other possessions of the taxpayer.
12-16-2008 Bailout payout tops $8 trillion
As the holiday season commences, it?s worth taking stock of the last gift that President George W. Bush and the 110th Congress have left for U.S. taxpayers.
More than $1.5 trillion in Federal Deposit Insurance Corp. loan guarantees, including a $139 billion assist to the lending arm of General Electric Corp.
$1.8 trillion in cash, tax breaks and loan guarantees doled out from the Treasury Department to taxpayers, financial institutions and credit companies.
$300 billion for homeowners from the Federal Housing Authority.
$25 billion in assistance for auto companies from a program overseen by the Energy Department, which is separate from the bailout proposal that tanked last week in the Senate.
And $5 trillion worth of new money, loan guarantees and loosened lending requirements from the Federal Reserve Bank.
The New Deal, for instance, cost an estimated $32 billion in its day, which would be about $500 billion in today?s dollars. The Marshall Plan cost about $12.7 billion, which is the equivalent of a paltry $115.3 billion. The Louisiana Purchase? The French got $15 million, which would be worth about $217 billion today.
If you take those three items, add in the adjusted costs of the Race to the Moon, the savings and loan crisis, the Korean War, the Iraq war, the Vietnam War and assistance for NASA, you still get to just $3.92 trillion ? not even half of the taxpayers? exposure today
As the holiday season commences, it?s worth taking stock of the last gift that President George W. Bush and the 110th Congress have left for U.S. taxpayers.
More than $1.5 trillion in Federal Deposit Insurance Corp. loan guarantees, including a $139 billion assist to the lending arm of General Electric Corp.
$1.8 trillion in cash, tax breaks and loan guarantees doled out from the Treasury Department to taxpayers, financial institutions and credit companies.
$300 billion for homeowners from the Federal Housing Authority.
$25 billion in assistance for auto companies from a program overseen by the Energy Department, which is separate from the bailout proposal that tanked last week in the Senate.
And $5 trillion worth of new money, loan guarantees and loosened lending requirements from the Federal Reserve Bank.
The New Deal, for instance, cost an estimated $32 billion in its day, which would be about $500 billion in today?s dollars. The Marshall Plan cost about $12.7 billion, which is the equivalent of a paltry $115.3 billion. The Louisiana Purchase? The French got $15 million, which would be worth about $217 billion today.
If you take those three items, add in the adjusted costs of the Race to the Moon, the savings and loan crisis, the Korean War, the Iraq war, the Vietnam War and assistance for NASA, you still get to just $3.92 trillion ? not even half of the taxpayers? exposure today
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
I will paypal you $10 if you can find a single link anywhere on P&N where I said I'd give you money for anything and you subsequently met the condition.
So, find the link and your retirement savings have just doubled. Sounds like an easy task, doesn't it?
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