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Obama economic plan aims for 2.5M new jobs by 2011

noreply@blogger.com (Unknown) — Sat, 22 Nov 2008 21:37:00 +0000

Obama economic plan aims for 2.5M new jobs by 2011

By WILL LESTER, Associated Press Writer

WASHINGTON – President-elect Barack Obama promoted an economic plan Saturday he said would create 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars.

"These aren't just steps to pull ourselves out of this immediate crisis. These are the long-term investments in our economic future that have been ignored for far too long," Obama said in the weekly Democratic radio address.

The goal is to it quickly through Congress, with help from both parties, after Obama takes office Jan. 20. The plan, which envisions those new jobs by January 2011, is "big enough to meet the challenges we face," he said.

Obama noted the growing evidence the country is "facing an economic crisis of historic proportions" and said he was pleased Congress passed an extension of unemployment benefits this past week. But, he added, `We must do more to put people back to work and get our economy moving again."

Nonetheless, he said, "There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better." more

Merkel's Opel Offer Slammed

noreply@blogger.com (Unknown) — Thu, 20 Nov 2008 07:52:00 +0000

Merkel's Opel Offer Slammed

The German government's offer to come to the rescue of carmaker Opel has come in for hefty criticism, particularly from within Chancellor Merkel's own party. Meanwhile Opel says it is reducing production for next year and cutting back to a 30-hour week in most plants.
hey say that if America sneezes, the world catches a cold. Now, it seems that if US auto giant General Motors has influenza then its European subsidiary Opel is going to straight to the German government for the aspirin.

On Monday Berlin agreed to consider extending loan guarantees to Opel so that it can insulate itself from the troubles at its parent company in Detroit. While Chancellor Angela Merkel was careful to insist that any such move would be a special case, the plans are already coming under fire. Some politicians from within her own party have attacked any hint of a bailout, with some arguing that German taxpayers should not be helping out what is essentially a US company.

Merkel met with Opel executives on Monday after they asked for a loan guarantees of around €1 billion ($1.26 billion) to ensure liquidity if Detroit-based GM files for bankruptcy. The entire US car industry is pleading for a government aid package of around $25 billion to weather the current problems wrought by the worst economic situation in decades.more

In Germany, where the auto industry is one of the biggest employers, some are concerned that any state aid to Opel could flow across the Atlantic to prop up its US parent company. Others worry that bailing out one company or one sector could have a snowball effect with troubled firms automatically turning to the state when the going gets tough.more

Financial News

noreply@blogger.com (Unknown) — Tue, 18 Nov 2008 13:13:00 +0000

S-a lansat noul site FinancialDose.com care va prezinta ultimele stiri din domeniul financiar, bancar si economic international. Daca vreti sa fiti la curent cu ultimele detalii despre criza economica internationala, cu ultimele mutari strategice ale firmelor internationale si sa fiti conenctat la viata financiara mondiala Financial News va asteapta cu doza zilnica de stiri.

WaMu is largest U.S. bank failure

noreply@blogger.com (Unknown) — Mon, 13 Oct 2008 09:11:00 +0000

WaMu is largest U.S. bank failure

NEW YORK/WASHINGTON (Reuters) - Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.
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Thursday's seizure and sale is the latest historic step in U.S. government attempts to clean up a banking industry littered with toxic mortgage debt. Negotiations over a $700 billion bailout of the entire financial system stalled in Washington on Thursday.

Washington Mutual, the largest U.S. savings and loan, has been one of the lenders hardest hit by the nation's housing bust and credit crisis, and had already suffered from soaring mortgage losses.

Washington Mutual was shut by the federal Office of Thrift Supervision, and the Federal Deposit Insurance Corp was named receiver. This followed $16.7 billion of deposit outflows at the Seattle-based thrift since Sept 15, the OTS said.

"With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business," the OTS said.

Customers should expect business as usual on Friday, and all depositors are fully protected, the FDIC said.

FDIC Chairman Sheila Bair said the bailout happened on Thursday night because of media leaks, and to calm customers. Usually, the FDIC takes control of failed institutions on Friday nights, giving it the weekend to go through the books and enable them to reopen smoothly the following Monday.

Washington Mutual has about $307 billion of assets and $188 billion of deposits, regulators said. The largest previous U.S. banking failure was Continental Illinois National Bank & Trust, which had $40 billion of assets when it collapsed in 1984.

JPMorgan said the transaction means it will now have 5,410 branches in 23 U.S. states from coast to coast, as well as the largest U.S. credit card business.

It vaults JPMorgan past Bank of America Corp to become the nation's second-largest bank, with $2.04 trillion of assets, just behind Citigroup Inc. Bank of America will go to No. 1 once it completes its planned purchase of Merrill Lynch & Co.

The bailout also fulfills JPMorgan Chief Executive Jamie Dimon's long-held goal of becoming a retail bank force in the western United States. It comes four months after JPMorgan acquired the failing investment bank Bear Stearns Cos at a fire-sale price through a government-financed transaction.

On a conference call, Dimon said the "risk here obviously is the asset values."

He added: "That's what created this opportunity."

JPMorgan expects to incur $1.5 billion of pre-tax costs, but realize an equal amount of annual savings, mostly by the end of 2010. It expects the transaction to add to earnings immediately, and increase earnings 70 cents per share by 2011.

It also plans to sell $8 billion of stock, and take a $31 billion write-down for the loans it bought, representing estimated future credit losses.

The FDIC said the acquisition does not cover claims of Washington Mutual equity, senior debt and subordinated debt holders. It also said the transaction will not affect its roughly $45.2 billion deposit insurance fund.

"Jamie Dimon is clearly feeling that he has an opportunity to grab market share, and get it at fire-sale prices," said Matt McCormick, a portfolio manager at Bahl & Gaynor Investment Counsel in Cincinnati. "He's becoming an acquisition machine."

WaMu is largest U.S. bank failure

Reverse Reengineering of Risk

noreply@blogger.com (Unknown) — Mon, 13 Oct 2008 09:07:00 +0000

Reverse Reengineering of Risk

The writedowns and bailouts are legendary, but some industry experts argue the credit crisis didn't have to happen. Simply put, an overdependence on technology and absence of judgment fanned the flames that have burned investors and taxpayers alike. It began with traditional credit scoring and analytics that made some pretty silly assumptions, like incomes don't matter much and people who prefer to pay in cash are riskier bets. After billions of writedowns, isn't it time the industry learn to assess risk properly?

Daily Banking News

Linux dedicated hosting

noreply@blogger.com (Unknown) — Thu, 12 Jun 2008 18:48:00 +0000

Linux dedicated hosting

Domain Registration - Quick Start Video

noreply@blogger.com (Unknown) — Thu, 12 Jun 2008 18:46:00 +0000

Domain Registration - Quick Start Video

Video introduces the topics to be covered in this Domain Registration video training series

Online Free lowest Car Insurance Information!

noreply@blogger.com (Unknown) — Thu, 12 Jun 2008 18:45:00 +0000

Online Free lowest Car Insurance Information!

Loan Information

noreply@blogger.com (Unknown) — Thu, 12 Jun 2008 18:44:00 +0000

Loan Information

Loan Resources, Loan Information, Mortgage Loans, Auto Loans, Car Loans, Truck Loans, 2nd Mortgages, Second Mortgages, Student Loans, School Loans

Lincoln Auto Insurance Commercial

noreply@blogger.com (Unknown) — Thu, 12 Jun 2008 18:43:00 +0000

Lincoln Auto Insurance Commercial

The hilarious insurance commercial that's almost as funny as eagleman!...Lincoln Auto Insurance Bad Corny Chicago Sr22 Eagleman Eagle Man Gillespie

Unlock iPhone 1.1.4

noreply@blogger.com (Unknown) — Fri, 16 May 2008 14:43:00 +0000

Unlock iPhone 1.1.4

1. Downgraded with Ziphone 2.4b the Bootloader to 3.9 (ziphone -b)
2. Activated and Jailbreaked with Ziphone 1.1.4 (ziphone -a -j) <- Change on Link $ to s
3. Installed BSD from Installer
4. Add to Source http://installer.iclarified.com
5. Set Autolock to NEVER
6. Install from iClarified “Unlock 1.1.4″
Voila your Phone is downgraded to 3.9 Bootloader, Baseband 04.02.13 (from 04.04.05) and UNLOCKED

cum sa deblochezi iPhone 1.1.4

noreply@blogger.com (Unknown) — Fri, 16 May 2008 14:43:00 +0000

1. Downgraded with Ziphone 2.4b the Bootloader to 3.9 (ziphone -b)
2. Activated and Jailbreaked with Ziphone 1.1.4 (ziphone -a -j) <- Change on Link $ to s
3. Installed BSD from Installer
4. Add to Source http://installer.iclarified.com
5. Set Autolock to NEVER
6. Install from iClarified “Unlock 1.1.4″
Voila your Phone is downgraded to 3.9 Bootloader, Baseband 04.02.13 (from 04.04.05) and UNLOCKED

Nanomotor termico

noreply@blogger.com (Unknown) — Mon, 28 Apr 2008 09:16:00 +0000

Nanomotor termico

Researchers Spaniards managed to produce the first nanomotor heat of the world, an engine in nanoscale moved by differential in temperature. He can either turn around an axis, as does a rotary engine normal

Search Wikia

noreply@blogger.com (Unknown) — Mon, 28 Apr 2008 09:16:00 +0000

Search Wikia

The new search engine of the founder of Wikipedia, the Search Wikia, was launched on the Internet but is on trial version (alpha), preventing the use of all tools at the site. As with Wikipedia, founded by Jimmy Wales, the wikia.com is based on participation and contribution of Internet users, who can control the system and organize the results of its research and improve the relevance of results.

Social services of proximity, a reflection of a society

noreply@blogger.com (Unknown) — Mon, 28 Apr 2008 09:15:00 +0000

Social services of proximity, a reflection of a society

The communities, large and small, across Europe are in a phase of economic and social transformation through the decline in traditional industries, the rapid immigration, an ageing population and higher prices for housing, and by an increase in street crime and anti - social.
Social services and its partners in the sectors of education, health, employment and housing, realize that they must work together to make a difference in the lives of vulnerable individuals and to strengthen community cohesion.
On July 4 and 2.3, is organized in Paris by the European Social Network, the 16th European Conference of social services. The conference recognizes the important role of proximity services in the communities in constant change, sometimes divided on issues and they work, and explores the experiences of many European countries in this field. http://www.esn-eu.org

Reduction of fuels by 15%

noreply@blogger.com (Unknown) — Mon, 28 Apr 2008 09:15:00 +0000

Engineers at the University of Delft (Netherlands) have developed a system of carenagens side for lorries, which reduces fuel consumption by up to 15%. The new solution aerodynamic tests showed the practical results higher than predicted by computer simulations on.
The set is composed of aerodynamic "skirts" side and a "tail" that reduces the so-called "track", a set of vacuum and air currents that exist in the rear of the trailer to the extent that the truck moves.
Based on the real tests, the researchers estimate that the investment in the placement of side skirts and tail of the truck is recovered in two years. The set aerodynamic as a whole reduced air resistance by 30%, which translates into a fuel economy of 15%.

Add Submit site url to our index

noreply@blogger.com (Unknown) — Wed, 27 Feb 2008 13:10:00 +0000

A new site is born www. clubmania .ro . The site Clubmania.ro is a free web directory, a romanian database of all tthe good sites.

Submint now your site in our index. Add site here:
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IBM Launches "System z10" Mainframe

noreply@blogger.com (Unknown) — Wed, 27 Feb 2008 13:09:00 +0000

IBM Launches "System z10" Mainframe

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Another Sony Ericsson W890 demo video

noreply@blogger.com (Unknown) — Wed, 27 Feb 2008 13:07:00 +0000

Another Sony Ericsson W890 demo video

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iPhone at the Oscars

noreply@blogger.com (Unknown) — Wed, 27 Feb 2008 13:06:00 +0000

Super iPhone at the Oscars

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Doodle 4 Google: Time lapse video of Google Doodle creation

noreply@blogger.com (Unknown) — Tue, 19 Feb 2008 15:17:00 +0000

Great Doodle 4 Google: Time lapse video of Google Doodle creation

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Windows Vista vs. Windows XP

noreply@blogger.com (Unknown) — Tue, 19 Feb 2008 15:14:00 +0000

Windows Vista vs. Windows XP

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Putting Windows Vista on a Mac from Apple

noreply@blogger.com (Unknown) — Tue, 19 Feb 2008 15:13:00 +0000

Putting Windows Vista on a Mac from Apple

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Samsung's F480 Prada

noreply@blogger.com (Unknown) — Tue, 19 Feb 2008 15:11:00 +0000

Samsung's F480 Prada

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Nokia n78

noreply@blogger.com (Unknown) — Tue, 19 Feb 2008 15:10:00 +0000

Nokia n78

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