By the looks of things, banks are still being uber-skittish with regard to lending, while plowing their money into government securities. But at least according to those Senior Loan Officers surveyed by the Federal Reserve, these banks are slowly getting ready to lend again. It’s not dramatic, mind you, but across various categories, there’s clearly a [...]
Gen. Stanley McChrystal, who was forced to retire in July after an embarrassing Rolling Stone article quoted him and his staff making disparaging remarks about top White House officials, is taking a job at Yale, POLITICO has learned. McChrystal will teach grad students a course in leadership at the Jackson Institute for Global Affairs in New Haven, which is opening [...]
REDWOOD SHORES, Calif. (AP) — Oracle Corp. said Thursday it has filed a patent and copyright-infringement lawsuit against Google Inc. Oracle said in a statement that Google’s Android system for mobile phones infringes on its patented Java technology. Google spokesman Andrew Pederson said the company can’t comment because it has not yet reviewed the lawsuit. [...]
The 99ers took a stand on Wall Street Thursday. A throng of desperate job-hunters — who’ve been out of work so long their unemployment benefits ran out — staged a protest rally on the steps of Federal Hall. “Are you going to tell us, President Obama and Congress, that our lives are not worth saving?” asked 99er Connie [...]
When we sold our startup in 1998 I suddenly got a lot of money. I now had to think about something I hadn’t had to think about before: how not to lose it. I knew it was possible to go from rich to poor, just as it was possible to go from poor to rich. [...]
Well, perhaps everyone should these days. Consumer spending accounts for roughly two-thirds of U.S. gross domestic product, or the value of all goods and services produced in the nation. And spending by the rich now accounts for the largest share of consumer outlays in at least 20 years. According to new research from Moody’s Analytics, [...]
WASHINGTON – Elena Kagan was sworn in Saturday as the 112th justice and fourth woman ever to serve on the Supreme Court. Chief Justice John Roberts administered the oath to Kagan in a brief private ceremony at the court. Kagan, joined by family and friends, pledged to faithfully and impartially uphold the law. Afterward, she [...]
SAN FRANCISCO (AP) — Lauded for making Hewlett-Packard Co. the world’s biggest technology company, CEO Mark Hurd was in talks for a new contract worth about $100 million, according to a person familiar with the negotiations. Instead, he’s getting almost one-third that much just to go away. HP said Friday that it ousted Hurd after [...]
DETROIT (AP) — After a five-year wage freeze, Ford Motor Co. Executive Chairman Bill Ford Jr. is getting paid again. It’s another sign that the automaker founded by his great-grandfather Henry Ford is healthy enough to award its top executives generous pay packages. The company recently said it earned $2.6 billion in the second quarter, [...]