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Texas plant that blew up carried only $1 million policy May 4, 2013 12:00 AM
The Texas fertilizer plant that exploded last month, killing 14 people, injuring more than 200 others and causing tens of millions of dollars in damage to the surrounding area had only $1 million in liability coverage, lawyers said Saturday.
Why the economy is taking so long to recover May 4, 2013 12:00 AM
Account for population growth, and the jobs ditch is even deeper: Heidi Shierholz, an economist at the liberal Economic Policy Institute, says the economy needs to add 8.6 million jobs, not 2.6 million, to keep up with a rising population.
What’s happening at the capitalists’ Woodstock May 4, 2013 12:00 AM
Buffett leads an annual meeting like no other May 4, 2013 12:00 AM
The Berkshire Hathaway annual meeting began humbly in 1982 with a crowd of 15 in an insurance company cafeteria. It has been growing steadily just as the company's stock price rose to become the most-expensive in the U.S., reaching $162,904 for a Class A share on Friday.
Employers add 165,000 jobs; rate falls to 7.5 percent May 3, 2013 12:00 AM
The unemployment rate has fallen 0.4 percentage point since the start of the year, though it remains high. The Federal Reserve has said it plans to keep short-term interest rates at record lows at least until unemployment falls to 6.5 percent.The hiring last month was concentrated in services.
Disney’s Bangladesh exit pressures those who stay May 3, 2013 12:00 AM
While Disney's contractors had less than 1 percent of the company's production in Bangladesh, marketers with more activity there will have to decide whether to stay and spend to improve worker safety or go elsewhere and potentially see the costs of their products rise even more. They need to make the calculation as they assess the risk to their brand names.
PepsiCo cuts ties with Lil WayneMay 3, 2013 12:00 AM
The week ahead: ECB, Fed, Facebook, Buffett, Derby Apr 28, 2013 12:00 AM
Hot happenings in business this week: The European Central Bank is likely to cut its benchmark rate in the coming week to keep the recovery it forecasts for later this year on track. The U.S. Federal Reserve will probably vote to continue its record bond- buying program. Plus Facebook will releasing its latest earnings report.
Tax cheats pony up $5.5 billion in amnesty program Apr 26, 2013 12:00 AM
In all, more than 39,000 tax cheats have come clean under the programs. Government investigators suspect that thousands of other taxpayers have quietly started reporting foreign accounts without paying any penalties or interest.
Estate Planning Seminars Offered in May at Kelleher & Buckley, LLCApr 26, 2013 12:00 AM
The law firm of Kelleher & Buckley, LLC will be offering free Estate Planning seminars in May.
Stocks edge higher as job market improves Apr 25, 2013 12:00 AM
Weekly applications for unemployment benefits fell 16,000 to 339,000, the second-lowest level in more than five years, according to the Labor Department.
Chastened banks cut tens of thousands of jobs Apr 25, 2013 12:00 AM
Layoffs in the depths of the financial crisis were to be expected. But four years later, and at a time when many banks are reporting higher or even record earnings, the cuts are unsettling to an entire industry.
Recession doesn’t change students’ econ savvy Apr 24, 2013 12:00 AM
"It is astonishing that high school seniors do not know more about how economics affects their wallets, their country and the world at a pivotal time in their lives, whether they choose to enter the workforce or pursue higher education," said David Driscoll, chair of the National Assessment Governing Board, which runs the federal tests.
White House says it’s open to fix on FAA furloughs Apr 24, 2013 12:00 AM
Under pressure, the White House signaled Wednesday it might accept legislation eliminating Federal Aviation Administration furloughs blamed for lengthy flight delays for airline passengers, while leaving the rest of $85 billion in across-the-board spending cuts in place.
Boeing sees early-May restart of 787 deliveries Apr 24, 2013 12:00 AM
Boeing said on Wednesday that deliveries of the 787 should resume in early May. Most of the 50 planes that have been delivered to airlines will be fixed by the middle of the month, Chairman and CEO Jim McNerney said.
Wealthy investors worried about Illinois economy Apr 22, 2013 12:00 AM
The Chicago area's wealthiest investors are much more nervous about their state's economy than counterparts elsewhere in the nation, according to a poll released Monday that reinforces concerns some companies may relocate if Illinois' financial situation doesn't improve. The poll by Morgan Stanley Wealth Management comes on the same day Texas Gov. Rick Perry visited Chicago to try to lure businesses from the state with the promise of lower income taxes and a stronger economy.
Smart Spending: Think inside the box — for samples Apr 21, 2013 12:00 AM
Once, businesses would hand out free samples in malls or throw them in with other purchases. Now, several businesses have sprouted up devoted to sending out a box of samples to customers once a month — and actually getting them to pay for it. While wine- or steak- of-the-month clubs have been around forever, the box of mystery treats is a relatively new form of subscription sales. It has caught on fast.
Are you a savvy manager of your IRA? Apr 21, 2013 12:00 AM
When it comes to retirement planning, most of the focus is placed on 401(k)s. The reality is that individual retirement accounts represent the largest share of America's savings. At the end of last year, IRAs had $5.4 trillion in assets compared with $5.1 trillion in 401(k)s and other defined contribution plans. Some 40 percent of U.S. households own at least one type of IRA, which offer tax incentives to save for retirement.
Authorities deal Russian mob a losing hand Apr 20, 2013 12:00 AM
Prosecutors say in recent years gambling operations laundered at least $100 million in illegal gambling proceeds through hundreds of bank accounts and shell companies in Cyprus and the United States.
Pepsi-Mondelez stakes raise merger speculation Apr 20, 2013 12:00 AM
Nelson Peltz’s Trian Fund Management LP disclosed stakes in PepsiCo Inc. and Mondelez International Inc., increasing speculation that he’ll push for a merger of the food makers.