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By Blaine Harden
$10.20
By Jabari Asim
$5.89
$18
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AP / Christophe Ena
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The uprising that sacked Tunisia’s government is continuing to echo through the region, with Egypt, especially, looking over its shoulder and fearing instability that could scare off foreign investors.
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For-profit schools, some of which are accused of failing to properly educate while loading students with debt, have banded together to fight the introduction of three federal reforms.
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bbc.co.uk
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Will $32.2 billion be enough to foot the bill for the tremendous mess the BP oil spill has made of the Gulf of Mexico? The higher-ups at the oil company seem to think so—at least for now. (continued)
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Those of us who have stood aghast and watched as Goldman Sachs seemed to sail almost unscathed through the erupting economic catastrophe of the last two years (thank you, bailout!) might stop now for a moment of pure schadenfreude, as the megabank’s profits took a precipitous dive in the second quarter of this year.
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AP / Richard Drew
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Bank stocks had a surprisingly good day Friday, outperforming the rest of the market after it became clear that financial reform legislation hammered out in Congress would not meddle with precious bank profits.
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Flickr / LAXFlyer
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Barring any last-minute mess-ups, a deal to merge air carriers Continental and United will likely be announced as early as Monday, a union that would create the world’s biggest airline.
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Flickr / laverrue
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Goldman Sachs has demonstrated a remarkable ability to keep pulling in the profits—and bestowing bonuses on company execs—regardless of the state of the global economy, and despite what the bank might have done to damage it in the first place. On Tuesday ... (continued)
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Flickr / James Callan
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We can all now breathe a collective sigh of relief: Bank of America has returned to quarterly profit after losing almost $200 million in the last quarter of 2009. The news comes even as home foreclosure activity hit an all-time record in March.
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Flickr / The Photique
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A hacker using the alias “Neo” has attained almost cult status in Latvia after releasing through Twitter the confidential financial data of allegedly corrupt banks and state-owned companies that profited from the global recession.
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Wikimedia Commons / United States Federal Reserve
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The Federal Reserve announced Thursday it would increase the interest rate for temporary bank loans. The New York Times reports that many on Wall Street see this as signaling an end to big bank profits. But some economists say the move was purely technical, with no real effect on how much money is made.
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Flickr / DetroitDereck Photography
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Ford Motor Co. has seemingly shifted out of crisis mode and is now reporting a profit of $2.7 billion for 2009, a considerable success given the state of the U.S. auto industry and the sluggish economy.
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AP / Mark Lennihan
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Was there ever a time when Goldman Sachs was more, um, ethical and client-centric than greedy and profit-driven, as its reputation now suggests? That’s debatable, but whatever its previous corporate ethos might have been, all signs point to Goldman’s current chairman and CEO, Lloyd Blankfein, as the major driving force behind the firm’s push for building bigger profits quicker these days.
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modernsalon.com
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Cause-related marketing, such as National Breast Cancer Awareness Month, may just be a way to move products at higher prices. A new report details the difficulty well-intentioned consumers may encounter in getting a tiny portion of their purchases to go to the intended charities.
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visitbulgaria.info
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For almost two years, insurance giant AIG has experienced quarterly losses—until now. The infamous company is reporting its first profitable quarter since 2007, a turnabout that will give the U.S. government a whopping $1.5 billion gain as a shareholder, while individual shareholders get to split $311 million among themselves.
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taisha.org
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Fresh off the bailout, Goldman Sachs raked in $3.44 billion in net profit this quarter, beating analysts’ already high expectations, and the firm’s success will pay off for employees in the form of generous bonuses. Not surprisingly, pro-Goldman types think this is all good news.
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abcnews.com
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Resilient and ultimately morally bankrupt, international oil darling Exxon Mobil has managed to take the 2008 medal for most profitable American corporation, despite a 33 percent fall in fourth-quarter earnings.
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businessweek.com
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Here’s yet another sign of the econo-polcalypse: Toyota Motor Corp., which has been profitable for decades thanks to steady sales and shrewd leadership, has predicted a loss for the first time in 70 years.
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Skyrocketing oil and natural gas prices in the second quarter of this year led ExxonMobil to report the highest profit ever by an American company. Despite falling production and rising operating costs, Exxon brought in $138 billion in revenue and reported an astounding net income of $11.7 billion. Who else is profiting?
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chicagobusiness.com
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It’s been a lively week in the newspaper world, and the excitement hasn’t exactly been of the desirable variety. Earlier in the week, Tribune Co. Chairman and CEO Sam Zell announced major cutbacks at Tribune papers across the country, and then The New York Times’ Valentine’s Day edition brought word that the Gray Lady will also be downsizing its staff.
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flickr.com
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By Robert Scheer — Whadda you mean “we,” Mr. TV Pundit? When you say “we” are doing better in Iraq or, even more absurd, that “we” were right to invade that country in the first place, are you putting Joe Blow American in the same bag as the top officers of Exxon, which made $40.6 billion in profit last year?
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Thanks in part to executives’ decision to unload the trouble-prone offshoot KBR in April, multinational corporation (and Dick Cheney’s former employer) Halliburton more than doubled its profits during the three-month period ending June 30, according to the BBC.
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Check out this ultra-campy educational film from the 1960s about the rise of pornographic culture. Money quote: “We know that once a person is perverted, it is practically impossible for that person to adjust to normal attitudes in regards to sex.” (h/t: BoingBoing)
Posted on Aug 6, 2006
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No need for creative accounting at these outfits: It’s good to be an oil company these days.
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On the heels of Exxon Mobil’s record-setting $10-billion quarterly profit, the “federal government is on the verge of one of the biggest giveaways of oil and gas in American history, worth an estimated $7 billion over five years.”
It’s nice being an oil baron when two oilmen head the government.
Posted on Feb 18, 2006
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