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When we say that a company “went bankrupt,” we imply that it had no other choice. But American Airlines deliberately filed for bankruptcy. The airline had four billion dollars in the bank and was in a position to pay its bills. American has been losing money for some time and its board decided that it […]

Ireland was one of the nations that was hardest hit by the Eurozone crisis, but now it’s being seen as leading stricken nations in their efforts to turn their economies around.  International Monetary Fund (IMF) and European Union (EU) officials are impressed by its austerity measures, imposed after the massive 2010 bailout.  For the average […]

When Cadillac is staking its comeback on a compact car that boasts fuel economy approaching 40 mpg, what does it mean for hybrid and electric vehicles?  Cadillac’s ATS sedan is one example of how carmakers at the Detroit Auto Show are re-emphasizing small, powerful models with more fuel-efficient engines such as sport-utility vehicles; even, please […]

As the stock market moved between negative and positive territory on the last day of January, 2012, the Dow Jones Industrial Average was nevertheless poised to close with their biggest January gain in 15 years – despite closing down a few points for the day.  In fact, it could be the best January for Standard […]

The federal Commodity Futures Trading Commission (CFTC) proposed limiting banks’  proprietary trading and hedge fund investments under the Dodd-Frank Act’s Volcker rule. The CFTC  3-2 vote makes it the last of five regulators to seek public comment on the proposal. This vote opens the measure to 60 days of public comment.  The rule, named for […]

A rare glimpse of bi-partisanship was seen today in the House of Representatives as Representative Gabrielle Giffords (D-AZ) officially resigned, slightly one year after being shot in the head at a “Congress on Your Corner” session in her native Tucson.  Giffords, who resigned to devote her time to undergoing intensive rehabilitation, walked with a limp.  […]

Depending on who you listen to, 2011 was either the 11th warmest on record — that’s according to the National Oceanic and Atmospheric Administration (NOAA) — or the 9th — according to the National Aeronautic and Space Administration — NASA. According to scientists at NOAA, 2011 broke records for climate extremes, as much of the […]

The global apartment sharing startup AirBnB has raised $112 million at a $1.3 billion valuation, confirming rumors about the fast-growing company which books rooms, apartments and houses in destinations from New York to San Francisco to Hawaii to London to Paris to Barcelona to Buenos Aires.  The round was led by Andreessen Horowitz (AH).  Reports […]

The Obama administration plans to work closely with federal regulators, Fannie Mae and Freddie Mac to start a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials. There currently are approximately 250,000 foreclosed properties on the books of Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA), […]

The unemployment rate in Germany declined more than predicted in December as car and machinery exports boomed and one of the mildest winters on record helped construction jobs. The number of jobless people declined a seasonally adjusted 22,000 to 2.89 million, according to the Nuremberg-based Federal Labor Agency.  Economists had forecast a decline of 10,000.  The […]