Business News You Need Today: Aug. 27, 2010
Business News You Need Today: Aug. 27, 2010
House Minority Leader John Boehner will call on President Barack Obama to fire Treasury Secretary Timothy Geithner and adviser Lawrence Summers in a speech today. In a speech in Ohio due at 8am today, Boehner will attack Geithner and Summers as promoting "19 months of government-as-community organizer," Politico reported.
The Obama administration acknowledged Tuesday that major changes must be made to mortgage giants Fannie Mae and Freddie Mac, but indicated that it supports continuing government guarantees in the mortgage sector. But is that a good idea?
Desiree Rogers, Obama's former social secretary of White House party crashers fame, is the new CEO of Johnson Publishers, which publishes Jet and Ebony magazines.
Business News You Need Today: Aug. 6, 2010
The U.S. government will guarantee a $3.1 billion loan to Ford Motor Co. (F) to help the carmaker export over 200,000 cars to Canada and Mexico. "Export-Import Bank of the United States will announce a new loan guarantee for Ford that will finance 3.1 billion dollars of export sales," The White House said, according to Agence-France Presse.
The White House released a report on Wednesday that estimates the American Recovery and Reinvestment Act is responsible for creating or saving as many as 3.6 million jobs and adding up to 3.2 percentage points to the nation's GDP.
Total nonfarm payroll employment fell by 125,000 in June as the government laid off 225,000 temporary census workers. That was roughly in line with expectations of a 130,000-job drop. Private sector jobs rose by 83,000, below estimates of 110,000.census workers. Unemployment fell slightly to 9.5 percent, or 14. 6 million people, the Bureau of Labor Statistics said on its website.
A federal judge strikes down the Obama administration's six-month ban on deepwater oil drilling in the Gulf of Mexico, calling the move "overbearing." The White House will appeal.
Most health insurers will soon be banned from rejecting children with preexisting medical conditions under provisions contained with new health-care overhaul legislation, the White House said Tuesday. The benefit is just one of several safeguards the administration detailed as officials met privately with state insurance commissioners and insurance company executives.
Fox News and Bloomberg both want Helen Thomas's old front row seat in the White House briefing room because of the symbolism they see in it. But what it actually symbolizes is something very different.
BP Stock Pops on $20 Billion Gulf Oil Spill Fund
White House To Answer Gulf Oil Spill Questions on YouTube
President Barack Obama isn't yet ready to vacate his residence at 1600 Pennsylvania Ave., but that didn't stop real-estate website Redfin from recently, if incorrectly, posting that the White House was for sale.
Sounds like a joke, but, no, it's just politics: President Obama's National Commission on Fiscal Responsibility and Reform, which is tasked with developing a plan to get the deficit under control, is itself being starved of the funds it would need to operate effectively.
The $3.8 trillion spending plan combines overly rosy projections of rapidly rising tax revenues with skyrocketing outlays in defense, entitlements and other mandatory spending, creating structural deficits above $1 trillion for a long time. Ending Bush-era tax cuts on the rich won't change that reality.
How much is the White House worth? Online real estate database Zillow came up with $292,386,000 as of Jan. 18, that is down $15 million since the Obama family took up residence a year ago, and down another $24 million since George W. Bush's final year in office.
During his first year in office, President Barack Obama's home has lost 5.1% of its value. No, not his house in Chicago, the White House.
Health care could soon be yesterday's battle. Business groups are now bracing themselves for a new fight in Congress against the growing power of unions. At issue is the Employee Free Choice Act (EFCA), also known as Card Check, a union-backed proposal that would enable workers to join a union if more than 50% of workers at a facility sign membership cards. A government-mandated arbitrator could enact a contract if the employer and the union don't reach an agreement within 120 days.
Late last month, Somali brigands in a dinghy hijacked the Maran Centaurus, an American-bound tanker carrying millions of barrels of crude oil, in the...
Cancel your flight to Amsterdam – the U.S. just got its first marijuana cafe on Friday. Located in Portland, Ore., the Cannabis Cafe shows how...
Rupert Murdoch wants everyone to know that Fox News doesn't start playground fights -- but it's not afraid of them, either.
On a conference call to...
The shooting war between Fox News and the Obama Administration is over, at least for now. Officials from the two camps met for a parley on Wednesday,...
A good rule for public feuds is always to be punching up. Getting in a pissing match with someone of lesser stature only elevates your opponent's...
When First Lady Michelle Obama planted an organic vegetable garden on the White House lawn in March 2009, she hoped to both set an example of healthy...
Just as President Obama gets handy swinging a figurative hammer to nail down an acceptable recovery plan for the automotive industry, he's also...
Now that the Obama White House is planting a vegetable garden, you can bet that everyone else will start planting gardens.
And that's a good thing,...