Most Recent Stingy News
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| Stop the madness that's killing jobs |
| 07/03/09 10:31 AM EST Permlink Report Broken Link | Government |
| "Why is this job decline happening? The private sector - the real engine of economic and job growth - won't hire because it's scared of what it sees coming out of Washington. On the horizon, as far as the eye can see, are higher taxes, uncontrolled spending and layers upon layers of new regulations. Who would hire new workers faced with that?" |
| More Government: Cash-poor California turns to IOUs |
| Why isn't the stimulus stimulating? |
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| New evidence on the foreclosure crisis |
| 07/03/09 10:30 AM EST Permlink Report Broken Link | Real Estate |
| "What is really behind the mushrooming rate of mortgage foreclosures since 2007? The evidence from a huge national database containing millions of individual loans strongly suggests that the single most important factor is whether the homeowner has negative equity in a house -- that is, the balance of the mortgage is greater than the value of the house. This means that most government policies being discussed to remedy woes in the housing market are misdirected." |
| More Real Estate: U.S. home prices down 18% |
| A recession measured by new-home sales |
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| You've got blackmail |
| 07/02/09 10:25 PM EST Permlink Report Broken Link | Crime |
| "My advice: If AOL comes after you, then go after AOL." |
| More Crime: More brazen than Madoff? |
| Stanford attorney's exit 'screams fraud' |
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| Cash-poor California turns to IOUs |
| 07/02/09 10:08 PM EST Permlink Report Broken Link | Government |
| "Here come the California IOUs. Unable to meet its bills for the second time this year, the state started printing IOUs on Thursday. Some 28,750 IOUs worth $53.3 million will be issued initially, mainly for personal income tax refunds." |
| More Government: Why isn't the stimulus stimulating? |
| Ghost cities may be bulldozed |
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| The 15 creepiest vintage ads |
| 07/02/09 2:03 PM EST Permlink Report Broken Link | Fun |
| "What do murder, pedophilia, suicide and a baby tiger have in common? They have all been used to sell stuff in these amazingly disturbing vintage ads" |
| More Fun: 5 popular laws that don't work |
| The new f***ing Citibank |
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| $70 oil, but where's the demand? |
| 06/30/09 1:01 PM EST Permlink Report Broken Link | Markets |
| "Why all the fuss over oil demand? Because it's critical to know what's behind rising oil prices. If it's demand - if nations like the U.S., China and India are consuming more oil because they're building infrastructure and powering factories - then indeed higher prices are a bullish sign for global economic growth, even if it means some grumbles at the pump. But if it's not demand at play, as the IEA's outlook seems to suggest, then rising oil prices start to look a lot more sinister - especially because higher oil prices take a chunk out of consumers' pocketbooks and companies' earnings, a scenario that unfolded to much dismay last summer, when prices topped out in July at over $145 a barrel." |
| More Markets: Priced to sell |
| The long view |
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| Priced to sell |
| 06/30/09 12:53 PM EST Permlink Report Broken Link | Markets |
| "And there's plenty of other information out there that has chosen to run in the opposite direction from Free. The Times gives away its content on its Web site. But the Wall Street Journal has found that more than a million subscribers are quite happy to pay for the privilege of reading online. Broadcast television - the original practitioner of Free - is struggling. But premium cable, with its stiff monthly charges for specialty content, is doing just fine. Apple may soon make more money selling iPhone downloads (ideas) than it does from the iPhone itself (stuff). The company could one day give away the iPhone to boost downloads; it could give away the downloads to boost iPhone sales; or it could continue to do what it does now, and charge for both. Who knows?" |
| More Markets: The long view |
| BoE financial stability report |
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| The origins of the corporate boards |
| 06/30/09 11:02 AM EST Permlink Report Broken Link | Management |
| "Prompted by the litany of complaints about corporate boards - as once again highlighted by recent corporate scandals - this paper seeks to add to the literature on why corporation laws in the United States (and, indeed, around the world) generally call for corporate governance by or under a board of directors. Moreover, this paper takes a very different approach in searching for an answer. Instead of theorizing, this paper examines historical sources in order to look at how and why an elected board of directors came to be the accepted mode of corporate governance. This will entail a reverse chronological tour all the way back to the antecedents of today's corporate board in fourteenth through sixteenth century companies of English merchants engaged in foreign trade. The central insight of this chronology is that the corporate board of directors did not develop as an institution to manage the business corporation. Rather, it is an institution the business corporation inherited when the business corporation evolved out of societies of independent merchants. This paper also shows how these merchant societies based their adoption of the antecedents of today's corporate board on widespread political theories and practices in medieval Europe that, although hardly democratic, often called for the use of collective governance by a body of representatives. The discovery of the historical and political origins of the corporate board, besides being interesting in its own right, suggests that the current frustration with corporate boards may arise from confusing an institution designed to achieve political legitimacy through consent of the governed, with the goal of assuring efficient management of a business on behalf of passive investors." [via prefblog.com] |
| More Management: How self-made titans launched |
| The irrational pursuit of growth |
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| U.S. home prices down 18% |
| 06/30/09 10:54 AM EST Permlink Report Broken Link | Real Estate |
| "The 10-City and 20-City Composites declined 18.0% and 18.1%, respectively, in April compared to the same month in 2008. These are improvements over their returns reported for March, down 18.7% for both indices." |
| More Real Estate: A recession measured by new-home sales |
| Return to 0% down |
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| GICs are safe, but don't expect much |
| 06/27/09 4:50 PM EST Permlink Report Broken Link | Thrift |
| "So what's the lesson? First, fees matter a great deal. Second, while a stock-filled portfolio may provide higher returns, that comes with risk. A GIC-only portfolio may not be exciting, but investors sleep well at night. " |
| More Thrift: The end of personal finance |
| Haggle your way to extra |
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| The long view |
| 06/27/09 2:23 PM EST Permlink Report Broken Link | Markets |
| "In real terms, the S&P 500 index is back to trend having been way above the line in both 2000 and 2007. In terms of profits, earnings are now well below trend, thanks to the massive write-offs from banks. But they were well above trend just two years ago. If one assumes a return to trend earnings of a little under $54 and an average price-earnings multiple of 15.3, then that puts fair value for the S&P of around 820, a bit below current levels. The problem, however, is that it looks very like we are in a secular, or long-term, bear market that started in 2000. These periods have lasted 17-20 years and have ended with p/e ratios in the single digits. So we may have a long way to go. One problem is the lack of dividend income. Over the last century, share prices have risen by around 1.6% per annum in real terms; dividends have added a further 4.4 percentage points of return. But the S&P 500 yields just 2.8% at present, pointing to below average returns from here." |
| More Markets: BoE financial stability report |
| Obituaries offer short-sale tip sheet |
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| Why isn't the stimulus stimulating? |
| 06/27/09 2:09 PM EST Permlink Report Broken Link | Government |
| "It's no secret that the Obama administration is deeply troubled by the continuing rise in unemployment. The national unemployment rate has risen to 9.4% from 7.2% in December and 5.5% in May 2008. The number of employed workers has fallen to 132 million from 135 million in December and 137.5 million in May 2008. Unemployment animates Democrats the way taxes animate Republicans--it's the issue that is important to them above all others. It's also the issue on which the Obama administration believes voters will primarily judge it in 2012. The recent dip in Obama's poll ratings could easily become a collapse if the economy doesn't turn around soon." |
| More Government: Ghost cities may be bulldozed |
| California's economy: too big to fail? |
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| BoE financial stability report |
| 06/27/09 1:41 PM EST Permlink Report Broken Link | Markets |
| "The Bank of England has released its June Financial Stability Report filled with the usual tip-top commentary and analysis." |
| More Markets: Obituaries offer short-sale tip sheet |
| Risk-management pioneer |
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| Exotic ETFs are toxic ETFs |
| 06/27/09 1:29 PM EST Permlink Report Broken Link | Indexing |
| "Just as the exotic charms of Cleopatra confounded Julius Caesar, the foreign wiles of Delilah did for Samson and the mystique of Heather Mills. fake leg ensnared Paul McCartney, so the mysterious allure of the exotic ETF is undermining the original purpose of these investment vehicles. As usual the investment industry has worked its magic and turned a really useful investment tool into a method for speculating in snake oil." |
| More Indexing: Investors are getting killed in ETFs |
| Know what you own |
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| A recession measured by new-home sales |
| 06/27/09 1:08 PM EST Permlink Report Broken Link | Real Estate |
| "There have been bad housing markets before, but never in post-World War II history has the market for new homes suffered as badly as it has in this decline." |
| More Real Estate: Return to 0% down |
| A 3rd wave of foreclosures |
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| Exit ahead? not so fast |
| 06/24/09 4:56 PM EST Permlink Report Broken Link | Economy |
| "Notwithstanding the so-called green shoots that appear to be popping up in various series of economic statistics, other numbers show things to be withering, if not rotting outright. What's more these data are not seasonally adjusted or otherwise fudged. They're tax receipts, and nobody pays taxes on phony, phantom jobs or earnings." |
| More Economy: A lost decade for jobs |
| February economic summary in graphs |
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| A tale of two depressions |
| 06/24/09 4:30 PM EST Permlink Report Broken Link | World |
| "Our Great Recession is every bit as global, earlier hopes for decoupling in Asia and Europe notwithstanding. Increasingly there is awareness that events have taken an even uglier turn outside the US, with even larger falls in manufacturing production, exports and equity prices." |
| More World: The story of 9 failed currencies |
| Buy an S.U.V., save the planet |
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