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  • Outsourcing Jobs, Union-Style

    08/15/2011 5:21:41 PM PDT · by Kaslin · 8 replies
    IBD Editorials ^ | August 15, 2011 | Staff
    Politics: These days, what would a firm that outsourced 400,000 U.S. jobs be called? The answer: labor union. Monday's Canada-Colombia free-trade pact is its masterpiece. Leo Gerard, the proudly Canadian president of the United Steelworkers Union, is one of many who ought to stand up and take a bow. He and his fellow Big Labor union bosses loudly opposed the U.S.-Colombia free trade agreement, using their political muscle to keep the already-negotiated deal on ice in Congress and the White House for nearly five years. It's come at a massive cost to American workers' jobs. Gerard's native land put its...
  • Stocks Drop 4%, Dow Skids 500, Led by Banks

    08/10/2011 1:29:28 PM PDT · by tcrlaf · 85 replies
    CNBC ^ | 8-10-11 | Jeeyoen Park
    Stocks finished near session lows in choppy trading Wednesday, with the Dow and S&P wiping out all of the previous session's gains led by financials, as investors continued to cautiously monitor developments in the European banks. The Dow Jones Industrial Average finished down over 500 points, wiping out the previous session's 429-point rally. The blue-chip index has had triple-digit moves in four of the last five trading days. The S&P 500 and Nasdaq also finished sharply lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared more than 25 percent.