Job News From: Forbes

Forbes.com: Business News

Could Recession Help Big Media? When it comes to the Internet, it might. Here's why. Banking: From Bad To Worse? "If you are not fearful, you are crazy," says JP Morgan Chief James Dimon. And that was before new numbers on defaults came out. The Most Expensive Celebrity Divorces Madonna and Guy Ritchie may create a media frenzy, but when it comes to money, it won't be nearly as noteworthy. Financial Crisis Brings Bold Global Moves World governments aim to reduce systemic risk by taking direct equity stakes in large financial institutions. Financial Crisis, Legal Boom The next great mega-litigation could rival the $12 billion spent cleaning up Enron.

Job News From: Yahoo! Business

Yahoo! News: Business Wed, 15 Oct 2008 23:48:40 GMT

Markets tumble as recession fears trump bailout (Reuters) Reuters - Gloomy economic data and warnings from the U.S. Federal Reserve that hard times were still to come wiped out two days of relative optimism about the credit crisis and sent markets into free-fall on Wednesday. Bernanke says U.S. economy faces big threat (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke on Wednesday gave a dour assessment of the U.S. economy, emphasizing a "significant threat" from turmoil in credit markets in remarks that suggested more interest-rate cuts could be coming. Economic activity weak across U.S.: Fed Beige Book (Reuters) Reuters - Economic activity weakened across the United States in September as businesses revised capital investments, consumers curtailed spending and the general outlook darkened, the Federal Reserve said on Wednesday. EBay warns on forecast and economy; shares down (Reuters) Reuters - Online auction leader EBay Inc gave a disappointing forecast and said it was suffering from a consumer spending slowdown that would drag on into 2009, sending its shares down more than 5 percent. EDF drops Consellation bid as credit tight (Reuters) Reuters - French power company EDF said on Wednesday it would not make a competing bid for U.S. power company Constellation Energy Group Inc because the credit crisis has made financing more difficult to obtain. GM campaign tells buyers they can still get loans (AP) AP - With October auto sales expected to fall short of September's 15-year low, General Motors Corp. is launching a campaign this week to reach people who have stopped looking for cars out of fear that they can't get a loan. US retail sales slide 1.2% in September (AFP) AFP - US retail sales slumped 1.2 percent in September, government data showed Wednesday in a sign of deeper troubles for an economy ailing from a financial market firestorm and tight credit.

Job News From: NPR

NPR Topics: Business Wed, 15 Oct 2008 17:50:00 -0400

Stocks Dive On Gloomy Economic OutlookThe turmoil in credit markets poses a "significant threat" to an already slowing U.S. economy, Federal Reserve Chairman Ben Bernanke said. The Dow Jones industrial average plunged more than 700 points, two days after posting a record gain, as investors worried about the depth of a coming recession. Lower Gas Prices Provide Little CheerWhen gas prices soared above $4 per gallon, carpooling, bicycling and the use of public transit increased. Gas prices have now fallen below $3 in many places, but other concerns are replacing anxiety about prices at the pump. Goldman Has Rich Economic Policy LegacyGoldman Sachs has a long legacy of supplying economic policy advisers to Washington. The Goldman alum are now playing a huge role in trying to stage the country's exit from the massive financial and economic crisis. Henry Paulson is a former Goldman official, as is Neel Kashkari. Anatomy Of A Financial BailoutThe heads of America's nine top financial institutions met with U.S. officials behind closed doors Monday to discuss accepting government cash in exchange for an equity stake in their banks. Wall Street Journal staff writer Deborah Solomon says Treasury Secretary Henry Paulson only told the executives to turn up at the Treasury Department at 3 p.m. Dow Plummets More Than 700 PointsThe Dow Jones industrial average have fallen by more than 700 points. Carey Leahey, senior economist with Decision Economics, blames the "dismal" retail sales report and the lingering effects of stagflation for the numbers. One ray of hope: the London Interbank Offered Rate has come down slightly. Small Banks Not Immune From Housing FalloutUnlike the biggest U.S. banks, with nationwide reach, smaller community and regional banks largely avoided making risky home loans. But their exposure to residential development and construction loans means they might still be hurt by the crisis. What Is Wall Street Doing To Fix This Mess?When the financial markets collapsed, the nation looked to Washington to solve the economic woes. But what about leadership on Wall Street? Robert Lenzner, national editor of Forbes Magazine, discusses why Wall Street is taking a passive role. The Day Main Street Bank FailedUntil recently Ken Ebaugh worked at Main Street Bank in Michigan. But Main Street is one of the banks that was closed down by the FDIC this year. Now he's looking at ways he can help homeowners stay out of foreclosure. Borrowing Gets A Little EasierThe "London Interbank Offered Rate," the interest rate at which banks can borrow funds from other banks, has dropped slightly for the third consecutive day. It's still not good compared to the days prior to the collapse of Lehman Brothers, but it suggests that more lending is going on. Small Biz Owners Weigh In On Economic CrisisWhile small businesses employ fewer than 500 people, or in most cases fewer than 20, they account for half of U.S. economic output. And with cash short these days, many small businesses are on the front lines of the credit crisis. Economy To Take Center Stage In Final DebateThe economy is likely to be the focal point Wednesday night when Democrat Barack Obama and Republican John McCain face each other in the last debate before the Nov. 4 presidential election. McCain, who lags Obama in many polls, is looking for the debate to give him a boost. Don't Shop — Swap For It On The InternetSince many people find themselves short of cash these days, the age-old practice of bartering is becoming more popular. Consumers are turning to the Internet to find goods or services that don't require cash. Among the "barter" listings on Craigslist is one that offers exotic dance lessons in exchange for an iPhone. Critics Say Rules Too Vague To Cap CEO PayThe legislation authorizing the government to spend up to $700 billion to help shore up the banking system includes provisions that cap what those banking executives may make. Critics say, however, that the standards are too vague to be anything more than political cover. Contract Talks Collapse Between Boeing, MachinistsTalks between striking machinists and Boeing broke down this week. The economy has changed dramatically since workers walked off the job in early September, but they remain committed. Obama Ads Embedded In Video GamesBarack Obama has become the first presidential candidate to embed a political ad in a video game. New technology via the Internet allows ads to pop up on billboards and other signage within games to get the player's attention. The Obama campaign is running ads in 18 video games, targeting 10 states that allow early voting.