Signs of hope amid ongoing economic contraction
economists differ on the depth and timing of recovery as layoffs persist and home prices fall while demand for big ticket goods rises. Federal Reserve officials predict stabilization by year end with a rebound in 2010 if financial conditions do not worsen and inventories decline.
MENTIONED IN THIS ARTICLE
Washington
White House
David Wyss
Standard & Poor's
New York
Commerce Department
Maumee
U.S
Federal Reserve
Teacher sells ads on tests at Idaho high school
In Pocatello Idaho a history and economics teacher uses MOLTO'S PIZZA 14 inch one topping ads on every test handout and worksheet to save money. Principal Don Cotant notes concerns but permits ads to illustrate economic hardship.
MENTIONED IN THIS ARTICLE
Pocatello
Idaho
U.S
Morto Caldo Pizzeria
Molto’s Pizza
Jeb Harrison
Pocatello High School
Don Cotant
Harrison
Cotant
Molto Caldio Pizza
Pizzeria
European leaders clash with Obama over $2 trillion stimulus plan
The Czech Prime Minister Mirek Topolanek told the European Parliament that Obama's plan to spend nearly $2 trillion to revive the U S economy is road to hell. He warned EU governments to avoid it as tensions rise before a key summit on global economy. European officials push back against U S criticism that the bloc is not doing enough to stimulate demand.
MENTIONED IN THIS ARTICLE
Brussels
European Union
Barack Obama
U.S
Mirek Topolanek
Washington
IBM to lay off 5000 U S workers in new cuts
A manager familiar with the plan says IBM will cut about 4 percent of its U S workforce from the services division. The layoffs affect roughly 5,000 of IBM's 115,000 U S employees, with announcements expected today.
MENTIONED IN THIS ARTICLE
IBM
San Francisco
IBM Corp
U.S
Associated Press
Vandal Attacks Home of Former RBS Chief in Edinburgh
In Edinburgh, vandals smashed three windows at the sandstone Victorian home of former Royal Bank of Scotland chief Fred Goodwin. The ex-CEO resigned in disgrace but continues to receive about 1.2 million dollars in annual pension.
MENTIONED IN THIS ARTICLE
Edinburgh
Scotland
Royal Bank of Scotland
Fred Goodwin
Diebold CFO Kevin Krakora Steps Down Amid Wells Notice
Diebold Inc reports CFO Kevin J. Krakora resigned after receiving a Wells notice from SEC staff tied to an ongoing revenue reporting probe. The company notes other former employees have similar notices and a Wells notice signals possible enforcement action.
MENTIONED IN THIS ARTICLE
North Canton
Diebold Inc
Kevin J. Krakora
Securities and Exchange Commission
Diebold
Wells
SEC
AIG Executive Resigns Over Retention Bonus Controversy
Jake DeSantis, executive vice president of AIG's Financial Products division, retires publicly in a New York Times op ed. He will donate his after tax retention bonus of over 742000 dollars to charity.
MENTIONED IN THIS ARTICLE
AIG
N.Y. Times
Charlotte, N.C
American International Group Inc
New York
Times
Jake DeSantis
Financial Products
French workers seize manager amid protests over jobs and bonuses
French workers blocked streets and burned tires while seizing a U.S. 3M manager during demonstrations in Paris. anger grew over job cuts and executive bonuses as companies relied on taxpayer funds and rising unemployment sparked broad outrage across the Atlantic.
MENTIONED IN THIS ARTICLE
Paris
U.S
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