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Business/Economy (News/Activism)

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  • GDP Shocker: Atlanta Fed Calculates Q1 Growth Of Only 1.2%

    03/03/2015 3:03:35 PM PST · by Perdogg · 6 replies
    zero hedge ^ | 03.03.2015
    While every other word from talking-heads and policy-makers relates various anecdotes (or simple lies) about US economic growth, The Atlanta Fed appears to have taken a 'data-dependent' perspective on the real economy (as opposed to smoke and mirrors). Based on their GDPNow "nowcasting" model, The Atlanta Fed projects Q1 2015 GDP growth os just 1.2% (less than half current sell-side economist consensus) and getting weaker...
  • US running out of room to store oil; price collapse next?

    03/03/2015 2:26:05 PM PST · by BeauBo · 27 replies
    AP ^ | 3 March 2015 | JONATHAN FAHEY
    NEW YORK (AP) — The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country's main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last week.
  • Target to cut thousands of jobs in restructuring

    03/03/2015 1:49:42 PM PST · by Red Badger · 44 replies
    CBNC ^ | 03-03-2015 | Fred Imbert & Courtney Reagan
    Target's chief executive, Brian Cornell, said Tuesday the retailer will cut several thousand jobs within the next two years as part of a $2 billion cost savings plan. The company also announced 2015 guidance of $4.45 to $4.65 adjusted earnings per share. Wall Street expected Target's guidance at $4.50 adjusted earnings per share. Target also expects digital sales to increase 40 percent and same-store sales between 1.5 percent and 2.5 percent, with modest improvement in gross margins and expense rates. It also expects sales to grow between 2 and 3 percent during the year. The company's stock closed at $78.02,...
  • Congress sends ‘clean’ Homeland bill to Obama

    03/03/2015 12:52:55 PM PST · by Tolerance Sucks Rocks · 37 replies
    The Washington Times ^ | March 3, 2015 | Eric Werner and David Espo (Associated Press)
    WASHINGTON — Congress is sending President Obama a bill to fund the Department of Homeland Security through the end of the budget year, without overturning the president’s immigration policies. The House on Tuesday voted 257-167 for the measure that Obama is expected to sign. Without action, funding for the department would have expired Friday at midnight.
  • Only mass default will end the world's addiction to debt

    03/03/2015 11:18:32 AM PST · by NRx · 11 replies
    The Telegraph ^ | 03 March 2015 | Jeremy Warner
    In a valedictory speech at the weekend of characteristically Latin American duration – a mind-numbing three hours – the Argentine president, Cristina Fernandez de Kirchner, claimed that her country was the only one in the world to have reduced its national debt over recent years. I doubt she is right about being alone in this “achievement” – there must surely be others - but even if she is, I’m not sure that reduction in the national debt via the mechanism of default is anything to boast of. Only Kirchner could think this a matter of national pride. Nonetheless, where Argentina...
  • New York: Muslim suing Costco for religious discrimination (Cashier won't accept pork purchases)

    03/03/2015 11:17:13 AM PST · by Titus-Maximus · 56 replies
    Jihadwatch ^ | 3/1/2015 | Robert Spencer
    “He tells Eyewitness News exclusively that when he refused to work with pork, the major retailer sent him outside to gather carts. ‘Just because you have a different belief, that doesn’t give anybody the right to treat you different,’ said Jean Camara, suing Costco.” Note the paradox: he is claiming that he was subjected to religious discrimination, when what really happened was that he was prevented from discriminating against non-Muslim customers by refusing to act as cashier for those with pork and alcohol.
  • US running out of room to store oil; price collapse next?

    03/03/2015 10:46:56 AM PST · by Red Badger · 78 replies
    Yahoooooo ^ | 03-03-2015 | By JONATHAN FAHEY
    The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country's main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last week. If this keeps up, storage tanks...
  • The Herd Can Be Blind

    03/03/2015 10:28:18 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | March 3, 2015 | Peter Schiff
    The below is an abridged version of a longer article that appears in the Winter 2015 Euro Pacific Global Investor Newsletter Going into 2015 the economic outlook held by the U.S. investment establishment could not have been much more positive, and more unified. Pundits saw all the variables aligning to create the best of all investment worlds, a virtual "no-brainer" of optimism. Many believed that the 5.0% annualized growth in 3rd quarter would stay strong in the 4th Quarter and then usher in a strong 2015, which many believed would be the best economic year since the crash of 2008....
  • Ending the Export-Import Bank’s Corporate Welfare Should Be a Gimme for the GOP

    03/03/2015 10:08:59 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | March 3, 2015 | Daniel J. Mitchell
    In the grand scheme of things, the Export-Import Bank isnÂ’t the worst government program or the one that most needs to be abolished.Entitlement programs are a far bigger threat to AmericaÂ’s long-run fiscal stability the Ex-Im Bank, with Medicaid serving as a particularly sobering example.Handouts to the Paris-based Organization for Economic Cooperation and Development, on a per-dollar-spent basis, do more damage than the Export-Import Bank.There are entire departments of the federal government, such as Education orHousing and Urban Development, that should be abolished before we worry about the Ex-Im Bank.But hereÂ’s the deal. Achieving any of the goals listed above...
  • Dems Discover the Truth About All Us Koch Brother Conservatives

    03/03/2015 8:43:14 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | March 3, 2015 | Michael Hausam
    For those of you currently on the Koch Brothers political agenda payroll, have open applications pending into the "club," or have been involved in the marketing campaign to cover up the true agenda of conservatives, we all have something to be a little concerned about: Our secret has been discovered. Here's what happened: Emanuel Cleaver (D-MO) was speaking at a Democrat fundraiser last week and in response to the tea party and other conservative's rallying cry of wanting to "take our country back!", he said this: “You can’t have it back. We’re not going back to a day when we...
  • Google Decides What Is Fact In New Search Results Ranking System

    03/03/2015 8:40:07 AM PST · by Enlightened1 · 23 replies
    Daily Caller ^ | 3/2/15 | Giuseppe Macri
    The world’s largest search engine is setting itself up to become the global arbiter of truth online.
  • Obama "Very Interested" In Raising Taxes Through Executive Action

    03/03/2015 7:52:25 AM PST · by pabianice · 35 replies
    Townhall.com ^ | 3/3/15 | Carroll
    White House Press Secretary Josh Earnest confirmed Monday that President Obama is "very interested" in the idea of raising taxes through unilateral executive action. "The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans," Earnest said in response to a question about Sen. Bernie Sanders (I-VT) calling on Obama to raise more than $100 billion in taxes through IRS executive action. "Now I don't want to leave you with the impression that there is some imminent announcement, there is not, at least that I know of,"...
  • The 13 Reasons I Owe Democrats an Apology

    03/03/2015 7:50:43 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | March 3, 2015 | Michael Schaus
    I owe Democrats an apology. Flipping through some of my hate mail (I lead a tremendously exciting life, as you can see) it dawned on me that it’s quite possible conservatives are a little too hard on our liberal friends. (Also: I’m trolling for more hate mail.) And so, with reserved humility, I sat down with a drink (less than 32 ounces) and a pen, and made a list of things for which we conservatives ought to apologize. It’s the least I can do:I am sorry about labeling Net Neutrality “broadband-socialism”. Clearly my distrust in the folks who brought us...
  • First came the frackers, then came the earthquakes

    ~snip~ It wasn't always like this. Between 1978 and 2008, Oklahoma averaged fewer than two significant earthquakes per year. In 2014, that number had spiked to 585, including 19 that measured a powerful 4.0 magnitude or stronger...
  • Fr. Hesburgh Leaves Legacy of Serving God, Country and Notre Dame

    03/03/2015 7:16:15 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | March 3, 2015 | Paul Dykewicz
    Everyone should aspire to live as exemplary a life as Fr. Theodore Hesburgh, 97, the former Notre Dame president, who died Feb. 26 but was a transformational national leader while also serving as the university’s president from 1952 to 1987, after receiving the school’s top job at the age of 35.With Fr. Hesburgh’s help, the United States ushered in an era of civil rights and the Catholic school became one of the country’s top universities, despite him arriving when it was best known for its iconic football team. His prominence did not prevent Fr. Hesburgh from taking an interest in...
  • End of Welfare for Billionaires...maybe?

    03/03/2015 6:14:21 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | March 3, 2015 | John Ransom
    Federal Reserve Vice Chairman Stanley Fisher told an economic forum on Friday that the Fed would likely look to interest rates hikes in June or September but that economic developments could change that, thereby declaring the impending end of an era of easy money. “I don't think there is an emphasis on June instead of September” Mr. Fischer told a monetary policy forum in New York according to Bloomberg. “[I]t seems those two months get the main weight of probability.”
  • Centrist Democrats Emerge From Their Slumbers

    03/03/2015 5:52:02 AM PST · by IBD editorial writer · 14 replies
    Investor's Business Daily ^ | 03/02/2015 | John Merline
    An old chestnut among pundits is to say that Republicans have become an extremist party out of touch with everyday, average Americans. It's so frequently stated that many Republicans even believe it. But as we've written before, it's the Democratic Party that has moved to the extreme.
  • One last look at the real economy before it implodes

    03/03/2015 4:50:08 AM PST · by HomerBohn · 7 replies
    Personal Liberty ^ | 3/2/2015 | Brandon Smith
    We are only two months into 2015, and it has already proven to be the most volatile year for the economic environment since 2008-2009. We have seen oil markets collapsing by about 50 percent in the span of a few months (just as the Federal Reserve announced the end of QE3, indicating fiat money was used to hide falling demand), the Baltic Dry Index losing 30 percent since the beginning of the year, the Swiss currency surprise, the Greeks threatening EU exit (and now Greek citizens threatening violent protests with the new four-month can-kicking deal), and the effects of the...
  • UK ministers issue spaceport shortlist

    03/03/2015 4:36:17 AM PST · by WhiskeyX · 5 replies
    BBC ^ | 3 March 2015 Last updated at 06:35 ET | Jonathan Amos, Science Correspondent
    The UK government has issued a shortlist of aerodromes that could host a UK The UK government has issued a shortlist of aerodromes that could host a UK spaceport. The list reduces the number of runways first suggested as candidates when last year's consultation got under way. Still in are Campbeltown, Glasgow Prestwick, and Stornoway in Scotland; Newquay in England and Llanbedr in Wales. RAF Leuchars is confirmed as a potential temporary facility. Ministers are keen to see the spaceport established by 2018. . The list reduces the number of runways first suggested as candidates when last year's consultation got...
  • Nearly 500 sign letter demanding that Ray Cross oppose Scott Walker's plan to restructure UW

    03/03/2015 2:00:04 AM PST · by Cincinatus' Wife · 8 replies
    The Chippewa Herald ^ | March 2, 2015 | PAT SCHNEIDER
    Five days after an open letter was posted online, the number of people at University of Wisconsin -- now including not only faculty, but staff, students and alumi -- demanding that UW System president Ray Cross oppose Gov. Scott Walker's plan to restructure UW in his budget rose to 484. Some 88 of them were at, or graduated from UW-Madison, where faculty were scheduled Monday to vote on a resolution asking Cross to delay restructuring. Seventy-four University of Wisconsin faculty members from campuses across the state signed an open letter to UW System president Ray Cross, “insisting in the strongest...
  • Walker: Budget will assist small businesses and farmers [Dems sit and pout]

    03/03/2015 1:25:25 AM PST · by Cincinatus' Wife · 7 replies
    NFIB ^ | March 2, 2015
    Wisconsin Gov. Scott Walker delivered his budget address in February, presenting a $68 billion, two-year spending plan that he said would “assist small businesses and farmers.” .... watch Walker’s speech
  • How Much More Economic Pain Can Vladimir Putin Take?

    03/03/2015 12:52:13 AM PST · by elhombrelibre · 22 replies
    Yahoo ^ | 2 Feb 15 | Matthew Philips
    It’s been a little more than six months since the full brunt of Western sanctions took force against Russia. The punishment, while slow in coming, has proven devastatingly effective—especially when paired with the crash in oil prices.
  • (Democrat Governor) Wolf wants Pennsylvania income, sales tax increase

    03/03/2015 1:07:25 AM PST · by prisoner6 · 26 replies
    Pittsburgh Post-Gazette ^ | March 3, 2015 | Karen Langley
    Gov. Tom Wolf is expected to call today for the Republican-controlled General Assembly to send him a budget that boosts state education funding and provides relief for school district property taxes while raising the rates of the sales and personal income taxes. His plan for doing so includes a proposal to raise the personal income tax rate in July 2015 from 3.07 percent to 3.7 percent, while increasing the eligibility for a poverty exemption, according to a briefing document prepared by the administration. He will propose increasing the state sales tax in July 2016 from 6 to 6.6 percent while...
  • $4.8M in gold bars stolen in armored truck heist on highway

    03/02/2015 8:51:09 PM PST · by Redcitizen · 49 replies
    AP ^ | 03-02-2015 | By MICHAEL BIESECKER
    RALEIGH, N.C. (AP) — Shortly after dusk along a lonely stretch of Interstate 95, armed robbers hijacked an armored truck, tied up the two guards and disappeared into the night with 275 pounds of gold bars.
  • A Tale Of Two Cities: Oakland Workers Celebrate Minimum Wage Hike As Business Owners Worry

    03/02/2015 6:42:48 PM PST · by Lonely Bull · 25 replies
    OAKLAND (KPIX 5) — The minimum wage in Oakland is about to become the highest in the Bay Area. Right now it’s $9/hour, but not for long. Thanks to voter-approved Measure FF, it will rise to $12.25/hour on Monday. But as this city’s minimum wage goes up, so go food prices. Most restaurants have said they’ll have to raise prices and cut worker hours. --SNIP-- But while Higginbotham can’t wait for the $12.25 hourly wage, small business owners like Sam Hori at 475 Café worry they may not survive. “It’s scary, because if things go down, we cannot to be...
  • Obama "Very Interested" In Raising Taxes Through Executive Action

    03/02/2015 5:16:42 PM PST · by amnestynone · 72 replies
    townhall ^ | March 2, 2015 | Conn Carroll
    White House Press Secretary Josh Earnest confirmed Monday that President Obama is "very interested" in the idea of raising taxes through unitlateral executive action. "The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans," Earnest said in response to a question about Sen. Bernie Sanders (I-VT) calling on Obama to raise more than $100 billion in taxes through IRS executive action. "Now I don't want to leave you with the impression that there is some imminent announcement, there is not, at least that I know of,"...
  • Obama "Very Interested" In Raising Taxes Through Executive Action

    03/02/2015 5:08:27 PM PST · by barmag25 · 43 replies
    Townhall.com ^ | 3/2/15 | Conn Corroll
    White House Press Secretary Josh Earnest confirmed Monday that President Obama is "very interested" in the idea of raising taxes through unitlateral executive action. "The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans," Earnest said in response to a question about Sen. Bernie Sanders (I-VT) calling on Obama to raise more than $100 billion in taxes through IRS executive action.
  • GOP Senators Back Extensions if Health-Law Tax Credits Voided

    03/02/2015 2:09:59 PM PST · by Zakeet · 17 replies
    Wall Street Journal ^ | March 2, 2015 | Louise Radnofsky
    The trio of Republicans tasked with shaping GOP senators’ response if the Supreme Court voids many of the Obama health law’s tax credits have thrown their weight behind a short-term extension of financial assistance. [Snip] Sens. Lamar Alexander of Tennessee, Orrin Hatch of Utah and John Barrasso of Wyoming gave their backing to such a plan in an op-ed published Sunday night in the Washington Post. “Republicans have a plan to create a bridge away from Obamacare,” wrote the men, who were tapped by Senate Majority Leader Mitch McConnell with devising a strategy for GOP senators.
  • Building the Border Fence - A Public/Private Partnership

    03/02/2015 2:03:15 PM PST · by BeauBo · 7 replies
    Vanity Editorial ^ | 2 March 2015 | Self
    To quickly secure our Southern Border, open the construction of the border fence to public and private sponsorship. Crowd source it. If individuals, private organizations, and state or local governments with jurisdiction were allowed to finance construction of one mile segments, build out would occur quickly, leaving only a subset for the Federal Government to finance. What do you think of this as a "power down" solution for a future Republican Administration?
  • Nasdaq Hits 5000 for First Time Since Dot-Com Era; Dow Jones Reaches New Record High

    03/02/2015 1:25:34 PM PST · by SeekAndFind · 10 replies
    Wall Street Journal ^ | 03/02/2015 | Dan Strumpf
    * U.S. Stocks Close Higher *Nasdaq Composite Closes Above 5000 For First Time Since March 2000 *DJIA, S&P 500 End at Fresh Records The Nasdaq Composite climbed above the 5000-point level for the first time in almost 15 years on Monday, another milestone in the revival of an index that once was synonymous with dot-com excess but now reflects a broad swath of global technology, consumer, health-care and financial firms. The Nasdaq Composite, which tracks the prices of the 2,571 companies on the Nasdaq Stock Market, briefly topped 5000 at 10:30 a.m. EST. It was the first time the index...
  • Obama "Very Interested" In Raising Taxes Through Executive Action

    03/02/2015 12:21:41 PM PST · by jazusamo · 73 replies
    Townhall.com ^ | March 2, 2015 | Conn Carroll
    White House Press Secretary Josh Earnest confirmed Monday that President Obama is "very interested" in the idea of raising taxes through unitlateral executive action. "The president certainly has not indicated any reticence in using his executive authority to try and advance an agenda that benefits middle class Americans," Earnest said in response to a question about Sen. Bernie Sanders (I-VT) calling on Obama to raise more than $100 billion in taxes through IRS executive action. "Now I don't want to leave you with the impression that there is some imminent announcement, there is not, at least that I know...
  • Advocates: Walker's budget could hurt programs for disabled

    03/02/2015 12:02:35 PM PST · by Cincinatus' Wife · 21 replies
    LaCrosse Tribune ^ | March 2, 2015 | DANA FERGUSON
    "....Claire Yunker, a spokeswoman for the Department of Health Services, said in a statement that Walker’s proposal is aimed at preventing fraud and abuse in the existing system and creating a more coordinated care regimen. But Daniel Idzikowski, executive director of Disability Rights — a group that advocates for people with disabilities — said his organization was not consulted about Walker’s plan that the Legislature will debate over the next three months. It would drastically restructure Family Care, which administers personal care and long-term care services to elderly, disabled and injured Wisconsinites through Medicaid, he said. “By and large that...
  • Fact-checker calls out Obama for saying Keystone ‘bypasses’ US

    03/02/2015 10:54:14 AM PST · by jazusamo · 20 replies
    Fox News ^ | March 2, 2015
    President Obama earned a double-barreled rebuke Monday from The Washington Post's fact-checker, for repeating a faulty claim that the Keystone XL pipeline "bypasses" the U.S. -- and for saying it would only carry "Canadian oil." The president made the claims in an interview last week with WDAY of Fargo, N.D. Obama continued to downplay the impact of the Canada-to-Texas oil pipeline, just days after vetoing a bipartisan-backed bill that would approve the construction project. Senate Majority Leader Mitch McConnell, R-Ky., has teed up a vote to override that veto later this week. In the local interview, Obama said: "I've already...
  • Scott Walker wants to end funding for renewable energy program - UW-Madison needs to prioritize

    03/02/2015 10:12:34 AM PST · by Cincinatus' Wife · 18 replies
    Milwaukee Journal Sentinel ^ | March 2, 2015 | By Thomas Content and Lee Bergquist
    ......UW officials say that Walker's proposal to end funding for the bioenergy program would cripple broader energy-development research that is receiving $25million annually from the federal Department of Energy."I can't honestly say how we would replace it at this point,"said Michael Corradini,director of the Wisconsin Energy Institute at UW-Madison,which derives 90% of its funding from the bioenergy program...In 2007,Wisconsin landed the Great Lakes Bioenergy Research Center—the first federal research center the state had attracted in decades. The center received an initial five-year,$125 million grant from the U.S. Department of Energy.It was part of a $375 million package by the administration...
  • Medical practice growing after refusing health insurance

    03/02/2015 9:58:56 AM PST · by Baynative · 27 replies
    WFAA8-ABC ^ | 12/10/2014 | Jason Whitely
    MRIs cost about $4,000, but his patients pay $400 CT scans are $2,000 with insurance, he said, but are $300 through his practice X-rays are usually $500, but priced at $60 at Pinckney's clinic, the results of which he can check on his smartphone
  • Iran wants to incinerate Israel; Obama wants to facilitate

    03/02/2015 9:44:51 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | March 2, 2015 | Shawn Mitchell
    Obama hates Netanyahu's upcoming address to Congress because, unlike the McConnell Boehner clown car, there will be one strong voice, drawing a national audience, declaring truth and the treachery of what Obama is up to. I wish Netanyahu could address Congress monthly. This is just upside down insaneville. The House passed a bill to fund Homeland Security, minus Obama's illegal amnesty. The Senate wants to pass the bill, but can't because Democrats are filibustering it. Senate Democrats are declaring loud and clear they'd sooner shut down DHS than keep it open without the amnesty program. It’s a classic standoff, and...
  • Chicago's Fiscal Freefall: Moody's Cuts Chicago Credit Rating to Two Steps Above Junk

    03/02/2015 9:36:01 AM PST · by Kaslin · 16 replies
    Townhall.com ^ | March 2, 2015 | Mike Shedlock
    Last week I wrote an article for the Illinois Policy Institute on the hugely unfunded and deteriorating nature of numerous Illinois' pension systems. I will post the article on Monday. My article was on on state pension systems, not Chicago's, and was written well ahead of downgrades of Chicago's debt by Moody's on Friday. I was not surprised to see the downgrade.
  • The Alberta Example: Spending Caps Are the Way to Prevent

    03/02/2015 9:30:17 AM PST · by Kaslin
    Townhall.com ^ | March 2, 2015 | Daniel J. Mitchell
    Back in 2012, I shared some superb analysis from InvestorÂ’s Business Daily showing that the United States never would have suffered $1 trillion-plus deficits during ObamaÂ’s first term if lawmakers had simply exercised a modest bit of spending restraint beginning back in 1998. And the IBD research didnÂ’t assume anything onerous. Indeed, the author specifically showed what would have happened if spending grew by an average of 3.3 percent, equal to the combined growth of inflation plus population.Remarkably, we would now have a budget surplus of about $300 billion if that level of spending restraint continued to the current fiscal...
  • Do the rich pay their fair share? [SPOILER: Hell, Yes]

    03/02/2015 9:14:03 AM PST · by SeekAndFind · 18 replies
    Washington Times ^ | 03/02/2015 | Stephen Moore
    Suppose there were a banquet for 100 people and at the end of the night it was time to split the bill of $50 per person. If that bill were paid for the way we pay our income taxes, here is how it would work. Those in the top half of income would pay roughly $97 each and those in the bottom half of the income would pay an average of $3 each. Almost 40 people would pay nothing. And the single richest person in the room would cough up $1,750. Liberals would complain that the cheap skate rich guy...
  • Painter says he included Monica Lewinsky's dress in Bill Clinton portrait

    03/02/2015 8:55:18 AM PST · by afraidfortherepublic · 25 replies
    Pilly.com ^ | 3-2-15 | Stephanie Farr
    RENOWNED Bucks County portrait artist Nelson Shanks has painted everyone from Princess Diana to President Bill Clinton and from Pope John Paul II to Marisa Tomei. He and his wife, Leona, are the founders of Studio Incamminati, an art school on 12th Street near Callowhill. On a recent Friday, as the north light of a chilly afternoon flooded his Andalusia studio, Shanks, 77, chain smoked cigarettes and drank Diet Cokes while painting Gabrielle, a beautiful young belly dancer, on a 7-by-5-foot canvas. Following his 7-hour session with Gabrielle, Shanks spoke with Stephanie Farr about a hidden secret in his portrait...
  • Dearth of jobs a barrier to post-bankruptcy Detroit’s growth (but “recovery”?)

    03/02/2015 7:28:34 AM PST · by Olog-hai · 12 replies
    Associated Press ^ | Mar 2, 2015 10:02 AM EST | Corey Williams
    When Alison Norris couldn’t find work in Detroit, she searched past the city limits, ending up with a part-time restaurant job that’s 20 miles away but takes at least two hours to get to via separate city and suburban bus systems. For many city residents with limited skills and education, Detroit is an employment desert, having lost tens of thousands of blue-collar jobs in manufacturing cutbacks and service jobs as the population dwindled. What’s available to those without cars—about 40 percent of Detroit’s population, according to federal figures—often are low-paying retail or sales positions far outside the city. […] The...
  • Oppostion Marches in Moscow; Bullets for the Ukraine

    03/02/2015 6:01:13 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | March 2, 2015 | John Ransom
    While Vladimir Putin remains firmly entrenched in power in the Kremlin, opposition forces marched in the tens of thousands in the streets of Moscow according to journalists. The marchers chanted demanding an end to Putin’s power in Russia after the assassination of opposition leader Boris Nemtsov. Nemtsov was gun down on the streets of Moscow.The suspicion is that Nemtsov, who was planning a rally in Moscow against Putin and the prosecution of the Ukraine war, was killed to silence and inconvenient critic.“Tens of thousands of Russians marched through central Moscow on Sunday, carrying banners declaring ‘I am not afraid’ and...
  • Why Keystone stays alive

    03/02/2015 5:54:20 AM PST · by rellimpank · 2 replies
    Chicago Tribune ^ | 02 mar 2015
    President Barack Obama last week vetoed legislation that would have greenlighted the Keystone XL pipeline, linking Canadian oil sands to the U.S. Gulf Coast. The Senate lacks the votes to override Obama's veto. Yet Keystone isn't dead. Both Democrats and Republicans have an interest in keeping this political football in play. Someday, we hope, the pipeline will be built. But that day won't come any time soon — and perhaps never during Obama's dwindling presidency. In his veto message, Obama asserted that he hasn't decided whether Keystone should be built or not. Obama said he was using his veto pen...
  • Why Robots Will Be The Biggest Job Creators In World History

    03/02/2015 4:49:50 AM PST · by expat_panama · 112 replies
    Forbes ^ | 3/01/2015 | John Tamny
    As robots increasingly adopt human qualities, including those that allow them to replace actual human labor, economists are starting to worry.  As the Wall Street Journal reported last week, some “wonder if automation technology is near a tipping point, when machines finally master traits that have kept human workers irreplaceable.”The fears of economists, politicians and workers themselves are way overdone.  They should embrace the rise of robots precisely because they love job creation.  As my upcoming book Popular Economics points out with regularity, abundant job creation is always and everywhere the happy result of technological advances that tautologically lead to job destruction.Robots...
  • Apple Inc (AAPL) Stock Downfall At $60 Says Berenberg; AAPL 'Key Driver' Of Hedge Funds

    03/02/2015 1:19:25 AM PST · by Blue Highway · 17 replies
    International Business Times ^ | 3/2/2015 | Reissa Su
    A German investment firm has predicted Apple Inc’s downfall as it sets a stock price target of $60 per share. Berenberg Bank believes the financial model of the Cupertino-based company relies too much on the iPhone. Berenberg has forecasted a more than 50 percent decline of Apple shares. According to Apple Insider, the German firm’s price target is so “extreme” that it doesn’t appear to be plausible prediction but more of a statement. In a note to investors, Berenberg issued the extremely bearish forecast on Apple stock. Even a few investment firms who remain bearish on Apple have maintained price...
  • U.S. Union Busting: Who’s Scarier, Scott Walker or ‘Jihadi John’?

    03/02/2015 12:15:56 AM PST · by Cincinatus' Wife · 31 replies
    NSNBC ^ | March 2, 2015 | Shamus Cooke
    When Wisconsin Governor Scott Walker compared labor unions to ISIS his audience cheered. At the end of the speech he got a standing ovation, reported FOX News in an article entitled “Walker draws standing ovation in CPAC address”. His wealthy audience hated labor unions that much. In fact, the 1% despises unions much more than they hate ISIS. Islamic extremists in the Syrian desert pose no threat to anyone in the U.S., while labor unions pose a direct threat to the profits of the super rich. Conversely, the average U.S. worker has much more to fear from Scott Walker than...
  • Samsung unveils sleek new Galaxy phones to battle Apple

    03/01/2015 10:56:24 PM PST · by Berlin_Freeper · 61 replies
    reuters.com ^ | March 2, 2015 | Se Young Lee and Harro Ten Wolde
    South Korea's Samsung Electronics Co Ltd unveiled its latest Galaxy S smartphones, featuring a slim body made from aircraft-grade metal, in a bid to reclaim the throne of undisputed global smartphone leader from Apple Inc. Designed from scratch in an operation dubbed "Project Zero", the Galaxy S6 and its curved-edges variant are critical for Samsung's plans to reverse plunging smartphone revenues that led to its first annual earnings fall in three years in 2014. A warm initial reception sent Samsung shares rising as much as 3.9 percent on Monday to their highest in nearly nine months. Some technology publications described...
  • LG Display, Samsung unit to supply Apple Watch screens – South Korea paper

    03/01/2015 10:48:41 PM PST · by Berlin_Freeper · 43 replies
    gmanetwork.com ^ | March 2, 2015 | Reuters
    SEOUL – South Korea's LG Display Co. Ltd. and the display-making subsidiary of Samsung Electronics Co. Ltd. will supply screens for Apple Inc.'s smartwatches, The Electronic Times reported on Monday. ...Apple has scheduled a special event on March 9, where it is expected to showcase Apple Watch.
  • Walker Says He Doesn’t Believe In ‘Amnesty’ Before Saying He Supports An Amnesty

    03/01/2015 10:21:52 PM PST · by Enlightened1 · 26 replies
    The Daily Caller ^ | 3/1/15 | Jamie Weinstein
    Scott Walker wants you to know he now opposes “amnesty” — even as he says he supports a policy that amounts to “amnesty.”
  • Line Hopes Messaging Stickers Help It Take Off in U.S.

    03/01/2015 8:14:01 PM PST · by doug from upland · 9 replies
    adage dot com ^ | orig Nov 2014
    In Asia, emojis and stickers on messaging apps are big, and it's common for people -- even adults -- to pay extra so they can punctuate their text messages with bears or bunnies. Now the Line messaging app says Americans are getting in on the sticker phenomenon too. Japan's Line Corp., which is trying to popularize its messaging app in the U.S., amid tough competition, launched a contest for artists to design new stickers, with people voting for winners. Line says the U.S.-focused contest brought in more than 10,000 sticker submissions and 500 million votes since it was launched in...