Blogs

The House of Representatives is debating a 90 percent tax on executive bonus payments made to companies receiving bailout funds. Anything they pass will still have to get through the Senate and past the President’s desk. They are “upset about something they already did,” according to Dan Lungren (R-CA).  read more »

This week Reuters is hosting a Food and Agriculture Summit in Chicago. On Tuesday presenters, including leading agribusiness executives and business economists, reported that despite the challenging global economic climate, the U.S. rural economy has weathered the recession better than most sectors due to steady demand for agricultural products, stable land prices and healthy credit lines for farmers".  read more »

On Sunday March 15, 2009, American International Group, Inc. revealed the identities of some of the beneficiaries of about half of the nearly $180 billion the US government has committed ($173 billion actually paid out so far) to support the ailing international financial giant. As we now know, AIG sold credit default swaps (CDS) that paid off if the market value of some bonds fell.  read more »

A day or so after he was on CNBC, Warren Buffett went on Bloomberg Television and told them that he’ll continue to sell derivatives contracts. He’s getting deeper into investments that he has called “financial weapons of mass destruction.” Apparently he’s betting that there will not be a crash (which would require a payout) in corporate junk bonds, muni bonds or stock markets in the UK, Europe and Japan. Here’s the punch line: his stock is up 17.2% since he started talking!  read more »

Former Illinois Governor Rod Blagojevich's arrest, impeachment and removal from office assured his place as another famous name in our state’s corruption hall of disrepute. But it turns out the selling of President Obama’s Senate Seat was only a minor part of Blagojevich’s misdoings – and some of this could have greater national political fall-out than is commonly imagined.  read more »

The second part in the series on East St. Louis gives views of downtown today, shows how its history can be seen in the city, and explains why the city could still be a good place for new development.  read more »

Democratic lawmakers from California recently took a break in the midst of “intense state budget negotiations” to travel up to a wine-country lodge complete with gourmet food, rooms, and cocktails with a trio of interests footing the $14,000 bill.  read more »

Over the past year, transit ridership has risen and that is a good thing. At the same time, driving has declined, due to both higher gasoline prices and the economic downturn. Some analysts have implied that people are giving up driving and using transit instead. An analysis of just released transit and urban roadway usage indicates no such thing. During the fourth quarter, the transit increase from a year earlier represented just 0.7 percent of the driving decline. This is even lower than the 2 to 3 percent figures registered in the first through third quarters.  read more »

A reader forwarded along this video of a bustling recent weekend at La Gran Plaza, a shopping center serving the Latino market in Fort Worth, TX. Just a few years ago, La Gran Plaza was a failing conventional shopping center before developers purchased it and completely redesigned and repurposed the mall to cater to Latinos. Partly because it serves a more insular, cash based clientele and largely because of brilliant design and programming choices, this mall seems to be thriving during a very tough period for retailers.  read more »

The days of the nu-cu-ler presidency may be over, but nuclear energy continues to be a hot-button issue, even if pronunciation isn’t the problem.

As it stands, President Obama plans to “slash the budgets of the U.S. Nuclear Regulatory Commission and the national nuclear waste facility at Yucca Mountain, Nevada,” reports eco-watcher Paul Taylor.  read more »