Latest posts in business and finance
Imagine that you and your brother owned a sporting goods company. Then, one day, your brother ticked you off so much that you left and started your own rival sporting goods company. And then fast-forward 60 years later, and the two businesses are still trying to put each other out of business.
That's what happened with Adidas and Puma, and their founders Adolph (Adi) and Rudolf Dassler, whose companies hadn't talked since they were founded...until yesterday. The two corporations joined together to play a game of soccer in honor of World Peace Day, and yes, that's a little melodramatic, but so's not talking to your brother's company for 60 years. The companies say that they've buried the hatchet now, so maybe now they can write off 60 years' worth of family counselling bills.
Above, Bloomberg reports that super investor Warren Buffett will star in the "Secret Millionaire's Club," a cartoon aimed at educating children about finance. The cartoon will also feature Martha Stewart (who will report from her "tricked-out treehouse"), and supermodel Gisele Bundchen. The "Secret Millionaire's Club" will be shown online on AOL sites, and then carried elsewhere.
Some might think that this will be Buffett's first animated doppelganger, but I'm not so sure. Hit "continue reading" to see if you agree with me after the jump.
continue readingA judge has given Bernard Madoff the maximum possible sentence of 150 years in prison for fraud. It is the sentence the majority of Madoff's victims, nine of whom testified at the hearing this morning, wanted for the 71-year-old Madoff.
Today, two items from Reuters that provide a little snapshot of the global economy and the U.S.'s place in it.
Above, prophet of the financial crisis and notorious economist-about-town Nouriel "Dr. Doom" Roubini unleashes his inner bear in response to suggestions that a substantial recovery is in sight. Moreover, Roubini sees up-and-coming economies like Russia and China slowly moving away from the dollar as their major reserve currency.
In layman's turns, this means the giant "We're #1!!!" foam hand will someday pass to China. It's already happening. Just look at how they're overtaking our once-proud clothing for dogs industry, after the jump.
The bad news: GM has just become the second-largest industrial bankruptcy in history (the Wall Street Journal's breathless headline: "GM Collapses into Government's Arms"). The good news: cars are going for cheap! Now's the time to buy a Pontiac -- think of it as a "collectible" brand. Just be prepared to "drive it into the ground" when you can't trade it in.
The last Titanic survivor has passed away. Mevlina Dean was 9 when she escaped the sinking ship.
Click "continue reading" for today's roundup.
Thanks to some Russians with deep pockets, Facebook is suddenly worth $10 billlion. Not bad for a company that is losing tons of money.
Click "continue reading" for today's roundup.
Would Barack Obama be president without the sacrifice and struggle of people like this?
Click "continue reading" for today's roundup.
What's a war without quotes from the Bible? GQ says that Donald Rumsfeld adorned his Iraq war briefings for President Bush with relevant biblical quotes.
Click "continue reading" for today's faithful roundup.
From "The Early Show" today comes this techno-scored cruise through the hot spots of the recent gay real estate boom. Wilton Manors. Palm Springs. Fire Island.
Hardly any foreclosures here! There's even some construction. While straights waste money on drives to protect opposite marriage, gays are out there actually helping the economy. You know, when they're not causing ominous black clouds of gayness to hover over innocent heterosexuals.
But just how has the gay community thrived in these dismal times? Fewer kids? A more affluent/educated population? Or perhaps, as a few LGBT folks in the above clip theorize, a general hardiness created by years of discrimination?
That last one is a little self-congratulatory, and doesn't really make sense, but what the heck, there oughta be some kind of upside to Proposition 8.



