Archive for April, 2009
Apr
28
2009
 
Jaynie Mo’s Salon Spa closes due to bad economyPosted by: wcfcouriernewsfeed in Cedar Valley BusinessCEDAR FALLS — Jaynie Mo’s Salon Spa has closed. The business, at 1501 Technology Parkway in Cedar Falls, announced its immediate closure Monday.
Apr
28
2009
Hulu’s CEO Laughs Off Blog Talk, Revels in Success of Its "Disruptive Business"Posted by: yahootechticker in Yahoo Tech TickerWhen online video site Hulu was announced in 2007, it didn’t even have a name, let alone a product. It was merely an idea for a joint venture between NBC and Fox — two traditional media companies that didn’t want to see YouTube do to the
Apr
28
2009
Tech and the Recession: Is the Worst Over?Posted by: yahootechticker in Yahoo Tech TickerTech earnings were mixed last week, with Apple delighting Wall Street with The price of investing in Fidelity Magellan and many other popular mutual funds is going up, even as paybacks drop. Truth is, higher-fee funds often deliver weaker returns. Investors dump airline and cruise stocks, worrying that travelers will skip trips to Mexico and the United States. GM will cut 21,000 jobs and slash 40% of dealerships; bondholders are unhappy. Bank stocks drop ahead of stress test results.
Apr
27
2009
The Choice Between Capitalism and SocialismPosted by: realclearmarkets in RealClearMarketsA few days ago, I happened to meet a doctor in our area who has an unusual background. He emigrated to America from Russia, and I heard from one of the nurses in his practice that he had to go back through medical school and earn a new degree in order to get his medical license in the United States. This, I thought, is a man who has uprooted his life to an extraordinary degree, all so that he can live and work in America. So when I had the opportunity to talk to him, I asked him why he did it. He is a very quiet-spoken and reserved man, so much so that I felt sheepish asking him a personal question, and I did not expect much in return. Instead, I got an answer more thorough and profound than I could have guessed at. The panic of 2008 has sent the political classes into fits of hyperactivity. Their favorite ploy has been to scare the public into supporting gigantic interventionist policies designed to inflate government budgets and re-regulate economic activity. These scare tactics were on display as world leaders prepared for the London meeting of the Group of 20 on April 2. The countries represented in this grouping account for two-thirds of the world’s population and 90% of its gross national product.
Apr
27
2009
To Recover, We Must Abide By Classical PrinciplesPosted by: realclearmarkets in RealClearMarketsDisagreement over federal rescue plans arises from legitimate doubts. Ever larger interventions that fail to restore normalcy have made the public wary about Washington’s rush to spend our way out of the financial crisis. As within any panic, knee-jerk responses by the powers that be are politically unavoidable. But it would be more productive Classical economics and common sense can provide clarity and a more helpful – and restrained – approach to weathering the storm. The average economist pays lip service to classical precepts that are misunderstood or neglected in practice and often supports government actions that directly conflict with them.
Apr
27
2009
Scramble to Save GM, Chrysler as Bankruptcy Deadlines LoomPosted by: yahootechticker in Yahoo Tech TickerHoping to stave off bankruptcy, Chrysler reached agreements with union leaders in the U.S. and Canada over the weekend in an effort to secure up to $6 billion in additional loans from the U.S. government. … Cranking up the money-printing machines is like pouring gas on a smoldering fire. While the short-term response is predictable, the long-term effect is far from certain. Fields dominated by men are among those that have seen the biggest job losses in this downturn. Yet compared with years ago, many are taking their unemployment in stride. Experian’s refusal to let consumers see their FICO scores, even for a price, hands more power to lenders. Lawmakers might end this outrage — if we give them a push.
Apr
26
2009
Creative Destruction In the Legal IndustryPosted by: realclearmarkets in RealClearMarketsOver the past eight months nearly every industry in the US has begun a transformation to reform in the face of greater competition and weakening demand. From the automotive industry to financial services, Wall Street to Main Street, small companies to Fortune 500’s, business models are changing and in some cases being turned upside down. Yet somehow the legal industry remains resistant to reform a key area of its own vulnerability – the billable hour. In part, this failure can be blamed on the fact that law firms weathered the initial economic storm fairly well compared to other industries. The top 100 US law firms saw only a 4% drop in per-partner revenue on average and incurred minor layoffs in 2008. And the last decade has seen rapidly rising profitability and growth within the industry.
Apr
26
2009
Developing Government Into a Cult of PersonalitiesPosted by: realclearmarkets in RealClearMarketsDid the most recent revelations that unelected officials ordered Bank of America’s CEO to violate securities disclosure laws to assure the shotgun merger with Merrill Lynch leave you wondering what new lines will be drawn that define the limits of government power? Not by putsch but in response to the will of the people, as temporary expedient or permanent change, we are taking yet another step away from the rule of law and toward the rule of men. Bernanke. Pelosi. Geithner. Reid. Rattner. Frank. Waxman. Obama, Obama, Obama!
Apr
24
2009
The Next Big Bailout: State and Local GovernmentsPosted by: yahootechticker in Yahoo Tech TickerWith state and local governments suffering from a steep decline in tax revenues, there’s “another S&L crisis” coming, says Diane Garnick, investment strategist at Invesco. And since every crisis deserves its own bailout, get ready for the Fe |
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