<?xml version="1.0"?><rss version="2.0" xmlns:dc="http://purl.org/dc/elements/1.1/"><channel><title>DailyFinance.com</title><link>http://www.dailyfinance.com</link><description>DailyFinance.com</description><image><url>http://o.aolcdn.com/os/df/2013/img/2-dailyfinance_logo_m.png</url><title>DailyFinance.com</title><link>http://www.dailyfinance.com</link></image><language>en-us</language><copyright>Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only.</copyright><generator>Blogsmith http://www.blogsmith.com/</generator><item><title>Seaside City Suffers Nation's Priciest Gas</title><link>http://www.dailyfinance.com/2010/12/31/seaside-city-suffers-nations-priciest-92357/</link><guid isPermaLink="true">http://www.dailyfinance.com/2010/12/31/seaside-city-suffers-nations-priciest-92357/</guid><comments>http://www.dailyfinance.com/2010/12/31/seaside-city-suffers-nations-priciest-92357/#comments</comments><description><![CDATA[<style>.articleFildUndr{color:#3A3A3A;font:italic 0.917em Georgia;}</style>
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<div class="articleTxt smallText" id="articleTxt1">(May 30) - It's a sunny Friday afternoon in Bridgeport, Conn., and drivers are feeling the pain as they pull in to the Freedom Premium Fuels service station. Nate Carter, a polished young salesman for the Cumulus Media radio network, watches the gas pump tick past $60 and then $65 as he fills up his car.</div>
<div class="articleTxt smallText" id="articleTxt2">"I'm probably going to sell it within a month," he says, nodding to the sleek, silver Nissan 350Z. He loves the car, but he's going to trade it in for a more fuel-efficient Nissan Altima to save on gas expenses. "It's not worth paying the extra money," he says. "It becomes a luxury at a certain point."</div>
<div class="articleTxt smallText" id="articleTxt3">Such is life at the pump these days. As gas prices surge ever higher, Americans who long resisted cutting back are beginning to find that they have to. Bridgeport may be the best vantage point for seeing how rising fuel prices are changing the lives of people buffeted by a soft economy, weak job market, and a housing slump. At the time of Carter's visit, the Connecticut town held the distinction of having the highest average gas price in the country, according to the Web site Gasbuddy.com. The site, which compiles information from users to steer drivers toward the cheapest fuel, put the average price in Bridgeport for a gallon of regular unleaded gasoline at more than $4.29.</div>
<div class="articleTxt smallText" id="articleTxt4"><b>Bridgeport's Claim to Fame</b></div>
<div class="articleTxt smallText" id="articleTxt5">Every driver has a tale to tell about the effect of rising fuel costs. Some stories are of minor changes in daily patterns; others are more substantial. Mark Zoom, a bearded bear of a man who works as a mason, only puts $25 into his truck at a time, and gasses up more often. Bridgeport resident Sam Larkin says he travels less often, and takes the train or bus when he goes to places like New Hampshire. A Honda CR-V driver who identifies himself only as Richard says he's divorced and can't afford to visit his kids as frequently as he would like. "I've got a bad heart, a tumor inside," he says. "I've got to save money to go to the doctor."</div>
<div class="articleTxt smallText" id="articleTxt6">Perhaps only extreme circumstances could turn a service station emblazoned with red, white, and blue stripes into a confessional. Over the past year, gas prices around the country have exploded. The primary reason is an immense runup in crude oil prices, which have climbed from an average of $64.20 a barrel last year to more than $130 a barrel in recent weeks. That's helped push prices at Freedom Premium Fuels to $4.319 for a gallon of regular unleaded gas, slightly above the city's average.</div>
<div class="articleTxt smallText" id="articleTxt7">To be sure, it's not the most expensive gas in the area. A Mobil station in nearby Westport charges $4.66. As high as that is, there are stations around the country that charge more. Jason Toews, Gasbuddy.com's co-founder, points to a station on Beaver Island, a 13-mile-long island in Lake Michigan, where one of the site's members spotted a gallon of regular unleaded at $5.19 last week. And there are isolated stations from Florida to Alaska and Hawaii that charge more. (Tucson, at $3.696 a gallon, is the city with the lowest average gas price, about 14 percent lower than Bridgeport.) But in the Lower 48, no state's residents face higher prices than Connecticut's, and no one in the Nutmeg State pays more on average than drivers in  Bridgeport.</div>
<div class="articleTxt smallText" id="articleTxt8"><b>Cutting Back</b></div>
<div class="articleTxt smallText" id="articleTxt9">There are seasonal factors, too: Gas prices tend to climb during the summer, when millions of drivers hit the road on vacation. In total, Connecticut drivers pay the second-highest gasoline tax in the country at 62.5¢ a gallon, trailing only California. The national average price of a gallon of regular unleaded gasoline on June 2 was $3.976, up 4 percent from the previous week and some 82 percent from a year earlier, the federal Energy Information Administration reported.</div>
<div class="articleTxt smallText" id="articleTxt10">The rapid ascent of gas prices comes at a time when the economy is already precariously close to recession. A survey last month by Discover Financial Services found that more than half of Americans are cutting back on everything from buying groceries to eating out as record-high energy costs join falling home values, declining company payrolls, and climbing food prices. Last week, the University of Michigan and Reuters consumer sentiment survey, considered a key gauge of the nation's mood on economic matters, returned its lowest reading in 28 years.</div>
<div class="articleTxt smallText" id="articleTxt11">It's no surprise to Leon Haviland. The Bridgeport resident, in a black sleeveless T-shirt, pulls in for gas in a customized black Chevy pickup with oversized wheels and chrome exhaust pipes behind the cab. Haviland says he's a mechanic and boasts that he has assembled the truck "from the ground up." He proudly shows off his work under the hood, but says gas prices are forcing him to cut back.</div>
<div class="articleTxt smallText" id="articleTxt12">"I built it and I can barely drive it," he says. He only puts in $20 worth of gas at a time. A recent trip to Florida to visit his fiancée's father, who is gravely ill with lung cancer, cost more than $1,000, Haviland says.</div>
<div class="articleTxt smallText" id="articleTxt13"><b>Scary Numbers</b></div>
<div class="articleTxt smallText" id="articleTxt14">Not everyone can cut back on driving. Jairo Rojas, a handyman who lives in Bridgeport and travels about 300 miles a week in his blue Plymouth Voyager minivan, has tried to take jobs close to home to reduce his gas budget. Still, he says, the sky-high price of gas in southern Connecticut means he's working longer hours to bring home the same paycheck.</div>
<div class="articleTxt smallText" id="articleTxt15">"I had to get some closer customers to save some gas," he says. "I'm not driving anymore for 400 or 500 miles a week."</div>
<div class="articleTxt smallText" id="articleTxt16">Zoom, the mason, argues it doesn't make sense to fill up his ramshackle pickup. "I don't fill it up anymore," he says. "If my truck stopped working tomorrow, I've got $100 in the tank and I can't spend it. If I put a little bit in at a time, I get to have more money in my pocket."</div>
<div class="articleTxt smallText" id="articleTxt17">As high as prices are now, they could head much higher if the price of oil continues to rise. Some observers have predicted a "super-spike" that could bring the price of a gallon of crude to $200 or beyond. Last month, an analyst at Wall Street giant Goldman Sachs predicted oil could reach that level in the event of a "major disruption" in supply.</div>
<div class="articleTxt smallText" id="articleTxt18">Dallas Federal Reserve economist Stephen Brown, who created a model to help explain the forces that drive gas prices, predicts such a spike could lift the average price of regular unleaded to $5.80 a gallon. Brown cautions that $200-a-barrel crude isn't "a most likely forecast," but is instead something that Goldman considers "within the realm of possibility."</div>
<div class="articleTxt smallText" id="articleTxt19">Under current conditions, it's only natural that drivers will shop around. But that's not Carter's strategy. His reasoning: It's not worth it. "Five cents now is, what, a 1 percent savings?" he asks. "It might make me feel better, but practically I'm going to spend more money looking for better gas prices than I am paying an extra 4¢ or 5¢ per gallon."</div>
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<div class="articleStryDt">2008-07-21 15:51:41</div>
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</div><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2010/12/31/seaside-city-suffers-nations-priciest-92357/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19832925/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2010/12/31/seaside-city-suffers-nations-priciest-92357/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><dc:creator>TIM CATTS</dc:creator><pubDate>Fri, 31 Dec 2010 12:12:12 EST</pubDate></item><item><title>Obama's pay czar limits pay packages for more top executives</title><link>http://www.dailyfinance.com/2009/12/11/obamas-pay-czar-limits-compensation-for-more-top-executives/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/12/11/obamas-pay-czar-limits-compensation-for-more-top-executives/</guid><comments>http://www.dailyfinance.com/2009/12/11/obamas-pay-czar-limits-compensation-for-more-top-executives/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a>, <a href="http://www.dailyfinance.com/category/goldman-sachs/" rel="tag">Goldman Sachs</a>, <a href="http://www.dailyfinance.com/category/bank-of-america/" rel="tag">Bank of America</a>, <a href="http://www.dailyfinance.com/category/citigroup/" rel="tag">Citigroup</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img hspace="4" border="1" align="right" vspace="4" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/ken-feinberg.jpg" alt="obamas-pay-czar-limits-compensation-for-more-executives" />More employees of firms receiving extensive government aid <a href="http://www.reuters.com/article/idUSTRE5BA2RT20091211">will face caps on their pay</a>, thanks to Obama administration pay czar Kenneth Feinberg (pictured).<br />
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For top-earning workers at Citigroup (<a href="http://finance.aol.com/quotes/citigroup-incorporated/c/nys">C</a>), American International Group (<a href="http://finance.aol.com/quotes/american-international-group-inc/aig/nys">AIG</a>), General Motors and GMAC, Feinberg has limited cash compensation at $500,000. The move affects the 26th through 100th highest-paid employees at the companies.<p><a href="http://www.dailyfinance.com/2009/12/11/obamas-pay-czar-limits-compensation-for-more-top-executives/" rel="bookmark">Continue reading <em>Obama's pay czar limits pay packages for more top executives</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/12/11/obamas-pay-czar-limits-compensation-for-more-top-executives/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19275341/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/12/11/obamas-pay-czar-limits-compensation-for-more-top-executives/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>aig</category><category>Bank of America</category><category>compensation</category><category>Goldman Sachs</category><category>in focus</category><category>Kenneth Feinberg</category><category>pay</category><category>pay czar</category><category>wall street bonuses</category><dc:creator>Tim Catts</dc:creator><pubDate>Fri, 11 Dec 2009 14:30:00 EST</pubDate></item><item><title>A global tax on bankers' bonuses? France, U.K. say 'Oui, indeed'</title><link>http://www.dailyfinance.com/2009/12/10/a-global-tax-on-bankers-bonuses-france-u-k-say-oui-indeed/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/12/10/a-global-tax-on-bankers-bonuses-france-u-k-say-oui-indeed/</guid><comments>http://www.dailyfinance.com/2009/12/10/a-global-tax-on-bankers-bonuses-france-u-k-say-oui-indeed/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/recession/" rel="tag">Recession</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img hspace="4" border="1" align="right" vspace="4" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/12/taxes.jpg" alt="a-global-tax-on-bankers-bonuses-france-u-k-say-oui-indeed" />It would appear that France and Britain are on the same page when it comes to bankers' bonuses. Their leaders certainly are -- literally.<br />
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French President Nicolas Sarkozy and British Prime Minister Gordon Brown <a href="http://online.wsj.com/article/SB10001424052748704240504574585894254931438.html">co-wrote an opinion piece in Thursday's <em>Wall Street Journal</em></a> calling for governments worldwide to collaborate on regulations designed to rein in runaway banks. That would include a global tax on financial employees' bonuses.<p><a href="http://www.dailyfinance.com/2009/12/10/a-global-tax-on-bankers-bonuses-france-u-k-say-oui-indeed/" rel="bookmark">Continue reading <em>A global tax on bankers' bonuses? France, U.K. say 'Oui, indeed'</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/12/10/a-global-tax-on-bankers-bonuses-france-u-k-say-oui-indeed/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19273266/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/12/10/a-global-tax-on-bankers-bonuses-france-u-k-say-oui-indeed/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>banker</category><category>bankers</category><category>bonus</category><category>bonus tax</category><category>france</category><category>gordon brown</category><category>Nicolas Sarkozy</category><category>recession</category><category>united kingdom</category><category>wall street</category><category>wall street pay</category><dc:creator>Tim Catts</dc:creator><pubDate>Thu, 10 Dec 2009 12:40:00 EST</pubDate></item><item><title>Bankers are now even less popular than members of Congress</title><link>http://www.dailyfinance.com/2009/12/10/bankers-are-now-even-less-popular-than-members-of-congress/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/12/10/bankers-are-now-even-less-popular-than-members-of-congress/</guid><comments>http://www.dailyfinance.com/2009/12/10/bankers-are-now-even-less-popular-than-members-of-congress/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img hspace="4" border="1" align="right" vspace="4" alt="" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/12/banker_piggy240.jpg" />Politicians, lawyers and insurance salesmen now have some company in America's doghouse: A new survey finds that Wall Street bankers are among the country's least favorite people. This suggests that while financial firms may have begun to mend their bottom lines, they're a long way from rehabilitating their public image.<br />
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<a href="http://www.bloomberg.com/apps/news?pid=20601087&amp;sid=aqFLia4_lsEk&amp;pos=3">Two out of every three Americans hold unfavorable views</a> of financial executives, according to a survey commissioned by Bloomberg earlier this month. And 64% said bailing them out was a bad idea.<br />
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That makes bankers less popular than members of Congress, the poll found. And that could have interesting implications as Goldman Sachs (<a href="http://finance.aol.com/quotes/the-goldman-sachs-group-inc/gs/nys">GS</a>), Morgan Stanley (<a href="http://finance.aol.com/quotes/morgan-stanley/ms/nys">MS</a>) and JP Morgan Chase (<a href="http://finance.aol.com/quotes/jpmorgan-chase-and-co/jpm/nys">JPM</a>) prepare to hand out some $30 billion in bonuses by the end of the year.<p><a href="http://www.dailyfinance.com/2009/12/10/bankers-are-now-even-less-popular-than-members-of-congress/" rel="bookmark">Continue reading <em>Bankers are now even less popular than members of Congress</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/12/10/bankers-are-now-even-less-popular-than-members-of-congress/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19273166/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/12/10/bankers-are-now-even-less-popular-than-members-of-congress/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>bankers</category><category>bonuses</category><category>congress</category><category>goldman sachs</category><category>JPMorgan Chase</category><category>morgan stanley</category><category>wall street</category><dc:creator>Tim Catts</dc:creator><pubDate>Thu, 10 Dec 2009 10:40:00 EST</pubDate></item><item><title>Green Mountain brews a winning deal for Diedrich Coffee</title><link>http://www.dailyfinance.com/2009/12/08/green-mountain-brews-a-winning-deal-for-diedrich-coffee/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/12/08/green-mountain-brews-a-winning-deal-for-diedrich-coffee/</guid><comments>http://www.dailyfinance.com/2009/12/08/green-mountain-brews-a-winning-deal-for-diedrich-coffee/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a></p><img hspace="4" border="1" align="right" vspace="4" alt="" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/12/green_mountain.jpg" />The battle for Diedrich Coffee (<a href="http://finance.aol.com/quotes/diedrich-coffee-inc/ddrx/nas">DDRX</a>) is over. It ended Tuesday morning after Green Mountain Coffee (<a href="http://finance.aol.com/quotes/green-mountain-coffee-roasters-inc/gmcr/nas">GMCR</a>) beat out Peet's Coffee and Tea (<a href="http://finance.aol.com/quotes/peet-s-coffee-and-tea-inc/peet/nas">PEET</a>) with a $290 million takeover bid. Diedrich, which makes single-serving cups of ground coffee for home or office percolation, saw its stock explode this year.<br />
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Green Mountain, manufacturer of the Keurig coffeemakers in which Diedrich's cups are designed to brew, outlasted Peet's, which opened the bidding with a $216 million offer on Nov. 3.<p><a href="http://www.dailyfinance.com/2009/12/08/green-mountain-brews-a-winning-deal-for-diedrich-coffee/" rel="bookmark">Continue reading <em>Green Mountain brews a winning deal for Diedrich Coffee</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/12/08/green-mountain-brews-a-winning-deal-for-diedrich-coffee/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19270090/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/12/08/green-mountain-brews-a-winning-deal-for-diedrich-coffee/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>coffee</category><category>diedrich coffee</category><category>Green Mountain Coffee Roasters</category><category>mergers and acquisitions</category><category>peets coffee</category><dc:creator>Tim Catts</dc:creator><pubDate>Tue, 08 Dec 2009 15:15:00 EST</pubDate></item><item><title>Which bailed-out bank will be next to exit TARP?</title><link>http://www.dailyfinance.com/2009/12/07/which-bailed-out-bank-will-be-next-to-exit-tarp/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/12/07/which-bailed-out-bank-will-be-next-to-exit-tarp/</guid><comments>http://www.dailyfinance.com/2009/12/07/which-bailed-out-bank-will-be-next-to-exit-tarp/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/jp-morgan-chase/" rel="tag">JP Morgan Chase</a>, <a href="http://www.dailyfinance.com/category/goldman-sachs/" rel="tag">Goldman Sachs</a>, <a href="http://www.dailyfinance.com/category/bank-of-america/" rel="tag">Bank of America</a>, <a href="http://www.dailyfinance.com/category/citigroup/" rel="tag">Citigroup</a>, <a href="http://www.dailyfinance.com/category/banks/" rel="tag">Banks</a>, <a href="http://www.dailyfinance.com/category/wells-fargo/" rel="tag">Wells Fargo</a>, <a href="http://www.dailyfinance.com/category/financial-services/" rel="tag">Financial Services</a>, <a href="http://www.dailyfinance.com/category/mining-drilling/" rel="tag">Mining &amp; Drilling</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img vspace="4" hspace="4" border="1" align="right" alt="which-bailed-out-bank-will-be-next-to-exit-tarp" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/03/bank-200a052506.jpg" />Which bank will follow the trail blazed by Bank of America (<a href="http://finance.aol.com/quotes/bank-of-america-corporation/bac/nys">BAC</a>) and be next to exit the government's bank rescue <span style="float: left; margin-right: 10px; margin-top: 7px;"><script> digg_url = 'http://digg.com/politics/Which_bailed_out_bank_will_be_next_to_exit_TARP'; </script> <script src=" http://digg.com/api/diggthis.js"></script></span> program? Probably not Citigroup (<a href="http://finance.aol.com/quotes/citigroup-incorporated/c/nys">C</a>), where taxpayers' own a 34% stake that the Treasury Department <a href="http://www.dailyfinance.com/2009/12/07/citi-is-still-stuck-in-tarp-but-the-program-may-cost-200-billi/">doesn't want to sell until it's sure the company won't need to raise more capital</a>.<br />
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Then there's Wells Fargo (<a href="http://finance.aol.com/quotes/wells-fargo-and-company/wfc/nys">WFC</a>), recipient of $25 billion in assistance, a bit more than half of the $45 billion Citi and Bank of America each got. But with hefty exposure to California's still-radioactive real estate market and without a capital cushion to match BofA's, it's not a strong candidate either.<p><a href="http://www.dailyfinance.com/2009/12/07/which-bailed-out-bank-will-be-next-to-exit-tarp/" rel="bookmark">Continue reading <em>Which bailed-out bank will be next to exit TARP?</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/12/07/which-bailed-out-bank-will-be-next-to-exit-tarp/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19268372/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/12/07/which-bailed-out-bank-will-be-next-to-exit-tarp/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>AIG</category><category>bank of america</category><category>citigroup</category><category>Fifth Third Bancorp</category><category>Kinross Gold Corp</category><category>Morgan Stanley</category><category>tarp</category><category>Troubled Asset Relief Program</category><category>wells fargo</category><dc:creator>Tim Catts</dc:creator><pubDate>Mon, 07 Dec 2009 15:20:00 EST</pubDate></item><item><title>Geithner: It's too soon to end TARP</title><link>http://www.dailyfinance.com/2009/12/02/geithner-its-too-soon-to-end-tarp/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/12/02/geithner-its-too-soon-to-end-tarp/</guid><comments>http://www.dailyfinance.com/2009/12/02/geithner-its-too-soon-to-end-tarp/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/03/geithner.jpg" alt="geithner-its-too-soon-to-end-tarp" />Tired of TARP? It doesn't sound like it's going away just yet. Treasury Secretary Timothy gave Congress a strong signal Wednesday that the government's $700 billion bailout fund will survive beyond its initial expiration date at the end of this year.<br />
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Moving too soon to end the Troubled Asset Relief Program, the centerpiece of last year's efforts to rescue financial companies threatened by frozen credit markets, would threaten the economy just as it's showing signs of life again, Geithner said in testimony before the Senate Agriculture Committee.<p><a href="http://www.dailyfinance.com/2009/12/02/geithner-its-too-soon-to-end-tarp/" rel="bookmark">Continue reading <em>Geithner: It's too soon to end TARP</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/12/02/geithner-its-too-soon-to-end-tarp/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19262128/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/12/02/geithner-its-too-soon-to-end-tarp/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>Neil Barofsky</category><category>SIGTARP</category><category>tarp</category><category>timothy geithner</category><category>Troubled Asset Relief Program</category><dc:creator>Tim Catts</dc:creator><pubDate>Wed, 02 Dec 2009 14:00:00 EST</pubDate></item><item><title>Commercial real estate loans gone bad imperil banks</title><link>http://www.dailyfinance.com/2009/12/02/commercial-real-estate-loans-gone-bad-imperil-banks/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/12/02/commercial-real-estate-loans-gone-bad-imperil-banks/</guid><comments>http://www.dailyfinance.com/2009/12/02/commercial-real-estate-loans-gone-bad-imperil-banks/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/federal-reserve/" rel="tag">Federal Reserve</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img hspace="4" border="1" align="right" vspace="4" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/12/commercial.jpg" alt="" />It's no secret that one of the biggest dangers facing banks today is that loans to builders of office towers, malls and other commercial properties are going sour at a quickening pace. Financial regulators, including Fed Chairman Ben Bernanke and Federal Deposit Insurance Corp. chief Sheila Bair, have warned of the risk. Now one research shop is <a href="http://www.reeconometrics.com/?q=content/real-estate-econometrics-releases-fourth-quarter-default-projections-bank-held-commercial">predicting those losses will get a lot worse</a>.<br />
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Real Estate Econometrics, a New York-based consulting and analytics firm, predicted Tuesday that delinquencies among commercial real estate mortgages held by banks will surge to 4% by the end of this year. That's after doubling to 3.4% in the third quarter compared with the same period in 2008, the firm said in a report.<p><a href="http://www.dailyfinance.com/2009/12/02/commercial-real-estate-loans-gone-bad-imperil-banks/" rel="bookmark">Continue reading <em>Commercial real estate loans gone bad imperil banks</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/12/02/commercial-real-estate-loans-gone-bad-imperil-banks/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19260116/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/12/02/commercial-real-estate-loans-gone-bad-imperil-banks/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>bank failures</category><category>ben bernanke</category><category>commercial real estate</category><category>fdic</category><category>Federal Deposit Insurance Corporation</category><category>Federal Reserve</category><category>In Focus</category><category>Sheila Bair</category><dc:creator>Tim Catts</dc:creator><pubDate>Wed, 02 Dec 2009 10:55:00 EST</pubDate></item><item><title>The FDIC's swelling list of banks on the brink</title><link>http://www.dailyfinance.com/2009/11/24/the-fdics-swelling-list-of-banks-on-the-brink/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/24/the-fdics-swelling-list-of-banks-on-the-brink/</guid><comments>http://www.dailyfinance.com/2009/11/24/the-fdics-swelling-list-of-banks-on-the-brink/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img hspace="4" border="1" align="right" vspace="4" alt="" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/05/bargain-franchise-200a0829.jpg" />It's no secret that the financial sector is struggling. Even so, <a href="http://www.fdic.gov/news/news/press/2009/pr09212.html">new figures from the Federal Deposit Insurance Corp.'s</a> so-called secret list of troubled banks show an industry in increasing distress. The number of banks on the regulator's confidential watch list increased by 33% in the third quarter, to 552, the highest level in almost 16 years, the FDIC said Tuesday.<br />
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Worried about souring mortgages and other toxic assets, the more than 8,000 banks with deposits backed by the FDIC sharply raised the amount they set aside to cover loan losses, dampening their profitability. The agency keeps the names of banks on this list under wraps to protect them from debilitating runs by depositors, which could destabilize them further. However, the FDIC does publish aggregate figures derived from its examinations of their books.<p><a href="http://www.dailyfinance.com/2009/11/24/the-fdics-swelling-list-of-banks-on-the-brink/" rel="bookmark">Continue reading <em>The FDIC's swelling list of banks on the brink</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/24/the-fdics-swelling-list-of-banks-on-the-brink/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19252557/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/24/the-fdics-swelling-list-of-banks-on-the-brink/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>bank failures</category><category>Colonial Bancgroup</category><category>fdic</category><category>Federal Deposit Insurance Corporation</category><category>Sheila Bair</category><category>troubled banks</category><dc:creator>Tim Catts</dc:creator><pubDate>Tue, 24 Nov 2009 16:00:00 EST</pubDate></item><item><title>War for grounds: Coffee firms Peet's and Green Mountain sweeten Diedrich bids</title><link>http://www.dailyfinance.com/2009/11/23/war-for-grounds-coffee-firms-peets-and-green-mountain-sweeten/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/23/war-for-grounds-coffee-firms-peets-and-green-mountain-sweeten/</guid><comments>http://www.dailyfinance.com/2009/11/23/war-for-grounds-coffee-firms-peets-and-green-mountain-sweeten/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/coffeecup.jpg" alt="coffee-competitors-sweeten-bids-for-roaster-diedrich" />There's a bidding war brewing over Diedrich Coffee (<a href="http://finance.aol.com/quotes/diedrich-coffee-inc/ddrx/nas">DDRX</a>), the maker of single-serving cups of joe for home or office percolation. <br />
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Diedrich agreed on Nov. 2 <a href="http://investor.peets.com/releasedetail.cfm?ReleaseID=421158">to sell itself to Peet's Coffee and Tea</a> (<a href="http://finance.aol.com/quotes/peet-s-coffee-and-tea-inc/peet/nas">PEET</a>), the java chain that is said to have inspired Starbucks (<a href="http://finance.aol.com/quotes/starbucks-corporation/sbux/nas">SBUX</a>). But now Peet's has <a href="http://www.gmcr.com/PressRoom/PressReleases/09-Deidrich-Proposal.aspx">competition from Green Mountain Coffee Roasters</a> (<a href="http://finance.aol.com/quotes/green-mountain-coffee-roasters-inc/gmcr/nas">GMCR</a>), owner of Keurig, the maker of the machine that brews Diedrich's cups.<p><a href="http://www.dailyfinance.com/2009/11/23/war-for-grounds-coffee-firms-peets-and-green-mountain-sweeten/" rel="bookmark">Continue reading <em>War for grounds: Coffee firms Peet's and Green Mountain sweeten Diedrich bids</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/23/war-for-grounds-coffee-firms-peets-and-green-mountain-sweeten/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19251058/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/23/war-for-grounds-coffee-firms-peets-and-green-mountain-sweeten/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>bidding</category><category>ddrx</category><category>diedrich coffee</category><category>gmcr</category><category>Green Mountain Coffee Roasters</category><category>merger</category><category>mergers and acquisitions</category><category>peet</category><category>peets coffee and tea</category><category>Stock</category><category>takeover</category><dc:creator>Tim Catts</dc:creator><pubDate>Mon, 23 Nov 2009 16:00:00 EST</pubDate></item><item><title>Fed stalls on Chinese bank deal, costs taxpayers $1.7 billion</title><link>http://www.dailyfinance.com/2009/11/20/fed-stalls-on-chinese-bank-deal-costs-taxpayers-1-7-billion/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/20/fed-stalls-on-chinese-bank-deal-costs-taxpayers-1-7-billion/</guid><comments>http://www.dailyfinance.com/2009/11/20/fed-stalls-on-chinese-bank-deal-costs-taxpayers-1-7-billion/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/china/" rel="tag">China</a>, <a href="http://www.dailyfinance.com/category/federal-reserve/" rel="tag">Federal Reserve</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/chinesemoney.jpg" alt="fed-stalls-on-chinese-bank-deal-costs-taxpayers-billions" />With regulators having seized 123 banks so far this year, one might think the Federal Reserve and Federal Deposit Insurance Corp. would be looking everywhere to find potential buyers for failed financial institutions' deposits and assets. But there's one place to which they're apparently not quite ready to turn: China.<br />
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When San Francisco-based United Commercial Bank failed on Nov. 9, the Fed was weighing an application by Chinese bank Minsheng to step in and take it over. But while it considered whether Chinese regulators were prepared to oversee a bank with operations on both sides of the Pacific, time ran out and UCB was shut down.<p><a href="http://www.dailyfinance.com/2009/11/20/fed-stalls-on-chinese-bank-deal-costs-taxpayers-1-7-billion/" rel="bookmark">Continue reading <em>Fed stalls on Chinese bank deal, costs taxpayers $1.7 billion</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/20/fed-stalls-on-chinese-bank-deal-costs-taxpayers-1-7-billion/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19248301/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/20/fed-stalls-on-chinese-bank-deal-costs-taxpayers-1-7-billion/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>china</category><category>failed banks</category><category>fdic</category><category>federal deposit insurance corpration</category><category>federal reserve</category><category>in focus</category><category>minsheng</category><category>UCB</category><dc:creator>Tim Catts</dc:creator><pubDate>Fri, 20 Nov 2009 16:40:00 EST</pubDate></item><item><title>Congressman calls on Geithner to resign</title><link>http://www.dailyfinance.com/2009/11/19/congressman-calls-on-geithner-to-resign/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/19/congressman-calls-on-geithner-to-resign/</guid><comments>http://www.dailyfinance.com/2009/11/19/congressman-calls-on-geithner-to-resign/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a>, <a href="http://www.dailyfinance.com/category/people/" rel="tag">People</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/03/geithner.jpg" alt="" />It's rarely much fun to watch government officials testify before Congress. But Rep. Kevin Brady (R-Texas) managed to add a charge to a hearing held Thursday morning by the Joint Economic Committee when he told Treasury Secretary Timothy Geithner that bailouts and rising unemployment had eroded lawmakers' and taxpayers' confidence in him. He then asked him to resign. <br />
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"Mr. Secretary, you are the point person on the economy, and the buck, in effect, stops with you," Brady said. "For the sake of our jobs, will you step down from your post?"<p><a href="http://www.dailyfinance.com/2009/11/19/congressman-calls-on-geithner-to-resign/" rel="bookmark">Continue reading <em>Congressman calls on Geithner to resign</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/19/congressman-calls-on-geithner-to-resign/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19246446/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/19/congressman-calls-on-geithner-to-resign/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>congress</category><category>kevin brady</category><category>timothy geithner</category><dc:creator>Tim Catts</dc:creator><pubDate>Thu, 19 Nov 2009 14:20:00 EST</pubDate></item><item><title>Federal Reserve issues new rules restricting overdraft fees on debit cards</title><link>http://www.dailyfinance.com/2009/11/12/federal-reserve-issues-new-rules-restricting-overdraft-fees-on-d/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/12/federal-reserve-issues-new-rules-restricting-overdraft-fees-on-d/</guid><comments>http://www.dailyfinance.com/2009/11/12/federal-reserve-issues-new-rules-restricting-overdraft-fees-on-d/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/10/debit-card-200cs082409.jpg" alt="" />Beginning next summer, banks will have to stop charging overdraft fees on debit- and ATM-card transactions without the permission of the cardholder, according to <a href="http://www.federalreserve.gov/newsevents/press/bcreg/20091112a.htm">a new rule announced Thursday</a> by the Federal Reserve. <br />
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Banks have been taking heat over the fees for months, and Bank of America (<a href="http://finance.aol.com/quotes/bank-of-america-corporation/bac/nys">BAC</a>) and JPMorgan Chase (<a href="http://finance.aol.com/quotes/jpmorgan-chase-and-co/jpm/nys">JPM</a>), among others, announced in October that they would allow their customers to opt out of overdraft protection, ending practices that consumer advocates disdain.<p><a href="http://www.dailyfinance.com/2009/11/12/federal-reserve-issues-new-rules-restricting-overdraft-fees-on-d/" rel="bookmark">Continue reading <em>Federal Reserve issues new rules restricting overdraft fees on debit cards</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/12/federal-reserve-issues-new-rules-restricting-overdraft-fees-on-d/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19235338/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/12/federal-reserve-issues-new-rules-restricting-overdraft-fees-on-d/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>overdraft fees</category><dc:creator>Tim Catts</dc:creator><pubDate>Thu, 12 Nov 2009 17:45:00 EST</pubDate></item><item><title>AIG may be able to repay the U.S. after all, Moody's now says</title><link>http://www.dailyfinance.com/2009/11/10/aig-may-be-able-to-repay-the-u-s-after-all-moodys-now-says/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/10/aig-may-be-able-to-repay-the-u-s-after-all-moodys-now-says/</guid><comments>http://www.dailyfinance.com/2009/11/10/aig-may-be-able-to-repay-the-u-s-after-all-moodys-now-says/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a>, <a href="http://www.dailyfinance.com/category/insurance-industry/" rel="tag">Insurance Industry</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img vspace="4" hspace="4" border="1" align="right" alt="" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/aig.jpg" />Just how much taxpayers will recoup of the $700 billion set aside last fall to bolster companies hard hit by the credit crisis has been a matter of debate for more than a year. And because American International Group (<a href="http://finance.aol.com/quotes/american-international-group-inc/aig/nys">AIG</a>), the deeply troubled insurer that's 80%-owned by the U.S. government, has received such a big bailout, it has frequently been in the center of that debate.<br />
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Surprisingly, however, Moody's Investors Service (<a href="http://finance.aol.com/quotes/moody-s-corporation/mco/nys">MCO</a>) now says AIG may be able to pay back much more of that government aid than first thought. In fact, the credit-rating firm said in a report Tuesday that AIG will probably be able to repay all of the <a href="http://bailout.propublica.org/entities/8-aig">more than $180 billion it has received</a> from taxpayers as well as buy back the government's stake in the company.<p><a href="http://www.dailyfinance.com/2009/11/10/aig-may-be-able-to-repay-the-u-s-after-all-moodys-now-says/" rel="bookmark">Continue reading <em>AIG may be able to repay the U.S. after all, Moody's now says</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/10/aig-may-be-able-to-repay-the-u-s-after-all-moodys-now-says/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19230969/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/10/aig-may-be-able-to-repay-the-u-s-after-all-moodys-now-says/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>aig</category><category>american international group</category><category>mco</category><category>Moodys</category><category>tarp</category><category>Troubled Asset Relief Program</category><dc:creator>Tim Catts</dc:creator><pubDate>Tue, 10 Nov 2009 16:30:00 EST</pubDate></item><item><title>Advanta files for bankruptcy -- more bad news for small-business borrowers</title><link>http://www.dailyfinance.com/2009/11/09/advanta-files-for-bankruptcy-more-bad-news-for-small-business/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/09/advanta-files-for-bankruptcy-more-bad-news-for-small-business/</guid><comments>http://www.dailyfinance.com/2009/11/09/advanta-files-for-bankruptcy-more-bad-news-for-small-business/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/bankruptcy/" rel="tag">Bankruptcy</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/advanta-logo-200x150.jpg" alt="" />A deep recession isn't a great time to be in the business of lending to entrepreneurs. First CIT Group had to seek bankruptcy protection last month when it failed to strike a deal with bondholders to rework its debt. And now Advanta (<a href="http://finance.aol.com/quotes/advanta-corp/advnb/nas">ADVNB</a>), a credit-card company specializing in lending to small-business owners, will follow, it announced today.<br />
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The news comes five months after Advanta cut off borrowing by its cardholders, citing a surge in delinquencies. It's still hoping to collect $2.7 billion in balances from 360,000 customers.<p><a href="http://www.dailyfinance.com/2009/11/09/advanta-files-for-bankruptcy-more-bad-news-for-small-business/" rel="bookmark">Continue reading <em>Advanta files for bankruptcy -- more bad news for small-business borrowers</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/09/advanta-files-for-bankruptcy-more-bad-news-for-small-business/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19229207/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/09/advanta-files-for-bankruptcy-more-bad-news-for-small-business/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>advanta</category><category>advnb</category><category>bankruptcy</category><category>cit</category><category>cit group</category><category>credit cards</category><category>small business</category><dc:creator>Tim Catts</dc:creator><pubDate>Mon, 09 Nov 2009 16:30:00 EST</pubDate></item><item><title>Berkshire Hathaway's net profit triples while stock portfolio bests S&amp;P 500</title><link>http://www.dailyfinance.com/2009/11/06/berkshire-hathaways-net-profit-triples-while-stock-portfolio-be/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/06/berkshire-hathaways-net-profit-triples-while-stock-portfolio-be/</guid><comments>http://www.dailyfinance.com/2009/11/06/berkshire-hathaways-net-profit-triples-while-stock-portfolio-be/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/warren-buffett/" rel="tag">Warren Buffett</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/03/buffett_186.jpg" alt="" />Warren Buffett, one of the world's richest men and CEO of conglomerate Berkshire Hathaway (<a href="http://finance.aol.com/quotes/berkshire-hathaway-inc-cl-a/brk.a/nys">BRK.A</a>), once proclaimed that <span class="cf_body1">"the banking business is no favorite of ours." The comment came in one of his famous missives to Berkshire's shareholders by way of explaining that financial companies </span>were too risky and opaque for the &uuml;ber-investor's tastes. <br />
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But that was in 1990. Today, well-timed investments in banks like Goldman Sachs (<a href="http://finance.aol.com/quotes/the-goldman-sachs-group-inc/gs/nys">GS</a>) and Wells Fargo (<a href="http://finance.aol.com/quotes/wells-fargo-and-company/wfc/nys">WFC</a>) are looking like smart moves for Buffett and Berkshire Hathaway, according to figures contained in the company's quarterly earnings statement released Friday. So are bets on a number of other blue-chip stocks like Johnson &amp; Johnson (<a href="http://finance.aol.com/quotes/johnson-and-johnson/jnj/nys">JNJ</a>) and Coca-Cola (<a href="http://finance.aol.com/quotes/the-coca-cola-company/ko/nys">KO</a>). The company's third-quarter net income nearly tripled to $3.24 billion, or $2,087 per Class A equivalent share, compared with $1.06 billion, or $682 per Class A equivalent share, in the year-ago quarter.<p><a href="http://www.dailyfinance.com/2009/11/06/berkshire-hathaways-net-profit-triples-while-stock-portfolio-be/" rel="bookmark">Continue reading <em>Berkshire Hathaway's net profit triples while stock portfolio bests S&amp;P 500</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/06/berkshire-hathaways-net-profit-triples-while-stock-portfolio-be/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19227051/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/06/berkshire-hathaways-net-profit-triples-while-stock-portfolio-be/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>american express</category><category>berkshire hathaway</category><category>Goldman Sachs</category><category>Johnson and Johnson</category><category>kraft</category><category>warren buffett</category><dc:creator>Tim Catts</dc:creator><pubDate>Fri, 06 Nov 2009 18:40:00 EST</pubDate></item><item><title>Hyatt surges on its first day of trading</title><link>http://www.dailyfinance.com/2009/11/05/hyatt-surges-on-its-first-day-of-trading/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/05/hyatt-surges-on-its-first-day-of-trading/</guid><comments>http://www.dailyfinance.com/2009/11/05/hyatt-surges-on-its-first-day-of-trading/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a>, <a href="http://www.dailyfinance.com/category/investing/" rel="tag">Investing</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/rsz_hyatt.jpg" alt="" />The threat of family feuds and a worldwide slump in hotel reservations couldn't dampen Hyatt Hotels Corp. (<a href="http://finance.aol.com/quotes/hyatt-hotels-corp/h/nys">H</a>) on its first day of trading on the New York Stock Exchange. The high-end hotel chain rose more than 12 percent on Thursday after raising $950 million in its initial public offering the prior evening.<br />
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What's driving the strong performance? It certainly doesn't hurt that the S&amp;P 500 enjoyed its fourth straight day of gains, rising about 1.8 percent. But investors pushed Hyatt's shares from $25, where they debuted, all the way up to $28 on the strength of its well-known brand and healthy cash flow, analysts say.<p><a href="http://www.dailyfinance.com/2009/11/05/hyatt-surges-on-its-first-day-of-trading/" rel="bookmark">Continue reading <em>Hyatt surges on its first day of trading</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/05/hyatt-surges-on-its-first-day-of-trading/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19225293/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/05/hyatt-surges-on-its-first-day-of-trading/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>hyatt hotels</category><category>initial public offering</category><category>ipo</category><dc:creator>Tim Catts</dc:creator><pubDate>Thu, 05 Nov 2009 17:20:00 EST</pubDate></item><item><title>Bank analyst Richard Bove, sued but unbowed, strikes again</title><link>http://www.dailyfinance.com/2009/11/04/bank-analyst-richard-bove-sued-but-unbowed-strikes-again/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/04/bank-analyst-richard-bove-sued-but-unbowed-strikes-again/</guid><comments>http://www.dailyfinance.com/2009/11/04/bank-analyst-richard-bove-sued-but-unbowed-strikes-again/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a>, <a href="http://www.dailyfinance.com/category/people/" rel="tag">People</a></p><img vspace="4" hspace="4" border="1" align="right" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/06/1216061150202.jpeg.jpg" alt="" />Veteran Wall Street analyst Richard Bove caused quite a stir among bankers last summer with a research note that called out 24 mostly small and midsize financial institutions. Bove said they were endangered by rising levels of delinquent mortgages and other toxic assets. <br />
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The decision to publish that research has cost Bove plenty. One of the banks he identified as troubled <a href="http://www.reuters.com/article/ousiv/idUSWNAB147620080722">sued him last July</a>. To protect his firm, <a href="http://www.nypost.com/p/news/business/bank_expert_bove_back_in_the_game_ms0qnrdsXgdSDCEsOss07H">he quit and joined another company</a>, and he has since been shouldering a monthly legal bill of some $50,000, he says. But he's not backing down. Indeed, in a new report sent to clients Wednesday, he sought to show that most of the banks he criticized more than a year ago haven't fared well since.<p><a href="http://www.dailyfinance.com/2009/11/04/bank-analyst-richard-bove-sued-but-unbowed-strikes-again/" rel="bookmark">Continue reading <em>Bank analyst Richard Bove, sued but unbowed, strikes again</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/04/bank-analyst-richard-bove-sued-but-unbowed-strikes-again/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19223636/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/04/bank-analyst-richard-bove-sued-but-unbowed-strikes-again/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>bank failures</category><category>bankatlantic</category><category>bankunited</category><category>corus bankshares</category><category>doral financial</category><category>downey financial</category><category>failed banks</category><category>firstfed financial</category><category>richard bove</category><dc:creator>Tim Catts</dc:creator><pubDate>Wed, 04 Nov 2009 18:10:00 EST</pubDate></item><item><title>Buzz surrounds takeover of 2009's best performing stock</title><link>http://www.dailyfinance.com/2009/11/03/buzz-surrounds-takeover-of-2009s-best-performing-stock/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/03/buzz-surrounds-takeover-of-2009s-best-performing-stock/</guid><comments>http://www.dailyfinance.com/2009/11/03/buzz-surrounds-takeover-of-2009s-best-performing-stock/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a></p><img vspace="4" hspace="4" border="1" align="right" alt="" id="img1" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/coffee-cup-and-beans.jpg" />There's an interesting merger percolating in the coffee world. Peet's Coffee &amp; Tea (<a href="http://finance.aol.com/quotes/peet-s-coffee-and-tea-inc/peet/nas">PEET</a>), <a href="http://www.slashfood.com/2006/06/11/the-10-largest-coffee-chains-in-the-us/">the chain said to have been the inspiration for Starbucks</a> (<a href="http://finance.aol.com/quotes/starbucks-corporation/sbux/nas">SBUX</a>), said Monday <a href="http://investor.peets.com/releasedetail.cfm?ReleaseID=421158">it had reached a $213 million deal</a> to buy Diedrich Coffee (<a href="http://finance.aol.com/quotes/diedrich-coffee-inc/ddrx/nas">DDRX</a>), a big seller of java in single-serving cups for home brewing.<br />
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So what's the big deal? After all, small companies buy each other for a few hundred million dollars all the time. But Diedrich is <a href="http://seekingalpha.com/article/162466-400-ytd-gainers-diedrich-coffee-leads-the-pack">probably the best-performing stock</a> in the United States this year. In fact, it was up a mind-boggling 5,555.56 percent this year before the takeover by Peet's was announced. As recently as late March, it was trading for 42 cents; Peet's agreed to pay $26 a share to take it over.<p><a href="http://www.dailyfinance.com/2009/11/03/buzz-surrounds-takeover-of-2009s-best-performing-stock/" rel="bookmark">Continue reading <em>Buzz surrounds takeover of 2009's best performing stock</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/03/buzz-surrounds-takeover-of-2009s-best-performing-stock/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19221344/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/03/buzz-surrounds-takeover-of-2009s-best-performing-stock/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>diedrich coffee</category><category>mergers and acquisitions</category><category>peets coffee</category><category>takeovers</category><dc:creator>Tim Catts</dc:creator><pubDate>Tue, 03 Nov 2009 18:45:00 EST</pubDate></item><item><title>Is U.S. Bancorp becoming too big to fail? Probably not</title><link>http://www.dailyfinance.com/2009/11/02/is-u-s-bancorp-becoming-too-big-to-fail-probably-not/</link><guid isPermaLink="true">http://www.dailyfinance.com/2009/11/02/is-u-s-bancorp-becoming-too-big-to-fail-probably-not/</guid><comments>http://www.dailyfinance.com/2009/11/02/is-u-s-bancorp-becoming-too-big-to-fail-probably-not/#comments</comments><description><![CDATA[<p>Filed under: <a href="http://www.dailyfinance.com/category/company-news/" rel="tag">Company News</a>, <a href="http://www.dailyfinance.com/category/economy/" rel="tag">Economy</a></p><img vspace="4" hspace="4" border="1" align="right" alt="" src="http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/usbank-1257197691.jpg" />Last Friday, <a href="http://money.aol.com/article/federal-regulators-close-9-banks-mostly/701319">regulators seized nine banks</a>, the most on a single day since the financial crisis began more than two years ago. Sure, it was a sign of just how sick many financial institutions have become, but it wasn't all bad news. That's especially true for U.S. Bancorp (<a href="http://finance.aol.com/quotes/us-bancorp-del/usb/nys">USB</a>), the Minnesota-based regional bank picked by the Federal Deposit Insurance Corp. <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=117565&amp;p=irol-newsArticle&amp;ID=1349165&amp;highlight=">to take over all nine of the failed banks' branches and deposits</a>.<br />
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U.S. Bancorp has emerged as the past year's biggest buyer of failed banks. And Friday's haul was its largest yet. It took over California, Texas, Illinois and Arizona-based subsidiaries of FBOP Corp., a privately owned bank holding company with headquarters outside Chicago. The deals bring U.S. Bancorp some $18 billion in assets and 150 branches -- and raise an interesting question: Just how big can it grow by feeding on failed banks' remains?<p><a href="http://www.dailyfinance.com/2009/11/02/is-u-s-bancorp-becoming-too-big-to-fail-probably-not/" rel="bookmark">Continue reading <em>Is U.S. Bancorp becoming too big to fail? Probably not</em></a></p><br style="clear:both;"></p><p style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"> </p><p><a href="http://www.dailyfinance.com/2009/11/02/is-u-s-bancorp-becoming-too-big-to-fail-probably-not/" rel="bookmark" title="Permanent link to this entry">Permalink</a> | <a href="http://www.dailyfinance.com/forward/19219428/" title="Send this entry to a friend via email">Email this</a> | <a href="http://www.dailyfinance.com/2009/11/02/is-u-s-bancorp-becoming-too-big-to-fail-probably-not/#comments" title="View reader comments on this entry">Comments</a></p>]]></description><category>banking</category><category>banking crisis</category><category>banking sector</category><category>banking stocks</category><category>banking system</category><category>failed banks</category><category>fdic</category><category>Federal Deposit Insurance Corporation</category><category>regional bank</category><category>regional banks</category><category>us bancorp</category><category>usb</category><dc:creator>Tim Catts</dc:creator><pubDate>Mon, 02 Nov 2009 17:15:00 EST</pubDate></item></channel></rss>