All Blog Posts from Econwatch

December 15, 2009 10:22 AM

Fat Cat Bankers In A Fog


This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.



Yesterday's meeting between President Obama and his favorite "fat cat - bankers was one big show. The President was nonplussed that three of the execs couldn't figure out how to actually make it to the meeting in person (any of these masters of the universe ever hear of Amtrak?). Lloyd Blankfein of Goldman Sachs, John Mack of Morgan Stanley and Richard Parsons of Citigroup were stuck in fog, preventing them from making the White House con fab.

(AP Photo/Ted S. Warren)

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MoneyWatch ,
Financial Decoder ,
MoneyWatch ,
fat cats ,
fat cat ,
Lloyd Blankfein ,
Goldman Sachs ,
John Mack ,
Morgan Stanley ,
Richard Parsons ,
Citigroup ,
Barack Obama
Topics:
Financial Decoder
December 14, 2009 11:59 AM

Global Food Prices Set to Skyrocket

(AP)
Soaring food prices may be a boon to commodities investors but they promise to be painful for much of the rest of the world, according to a Bloomberg report Monday.

Costs rose to record levels in June 2008 but sank as the global economy fell into the grips of a recession. With economic growth predicted in the next year, increased consumption will likely place severe strains on the world's food supplies.

Rice, a staple for half of the world, could surge an astronomical 63 percent – from $638 a metric ton to $1,038 in the coming year, according to a survey of importers, exporters and analysts. Output has been stifled by dry weather and India and the Philippines have increased their imports.

Nonfat dry milk, commonly used in baking products and baby formula, could spike 39 percent next year, according to the USDA. Prices would climb to an average of $1.275 a pound from 92 cents.

Processed and fluid milk could jump 31 percent and cheese may see a 28 percent increase.

Overall, food prices around the world rose 7 percent in November. In June 2008, record prices sparked 60 riots across the globe, from Haiti to the Philippines.

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food prices ,
rice ,
wheat ,
milk
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Food Prices
December 14, 2009 11:39 AM

Fat Cat Bankers Meet President Obama


This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.



"I did not run for office to be helping out a bunch of fat cat bankers on Wall Street"

President Obama on CBS News' "60 Minutes"

(CBS)

Fat Cat Wall Street bankers head to the White House for a meeting with President Obama today. Here's what I imagine the conversation will sound like.

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Financial Decoder ,
Jill Schlesinger ,
fat cats ,
bank ,
regulations ,
Barack Obama ,
Paul Volcker ,
health care
Topics:
Financial Decoder
December 14, 2009 8:03 AM

Best Wine Values: My Adventures With Gary Vaynerchuk


This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.


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Financial Decoder ,
Gary Vaynerchuk ,
Wine Library TV
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Financial Decoder
December 11, 2009 11:23 AM

Pay Czar Puts $500K Limit on Executive Compensation

(CBS)
White House pay czar Ken Feinberg announced Friday the second round of rules governing executive compensation for bailed out companies, generally limiting pay to $500,000 for affected employees, reports CBS News White House correspondent Mark Knoller.

The rules cover the 26th through 100th top-paid employees at firms who received exceptional assistance from the Troubled Asset Relief Program – AIG, Citigroup, GM and GMAC.

Feinberg unveiled rules for the 25 top-paid employees in October.

Under the rules, cash salaries would be generally limited to $500,000 a year. According to the Associated Press, there will be about 12 exemptions granted to executives so their companies will be able to "thrive, be able to compete, and not lose key people," Feinberg said.

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Ken Feinberg ,
Pay Czar ,
Executive Compensation
Topics:
Compensation
December 10, 2009 12:00 PM

Improve Financial Performace With More Women At The Top!


This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.



Check out this interview with Ilene Lang of Catalyst, the leading research and advisory organization working to expand opportunities for women and business (Click here to view the video segment).

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Jill Schlesinger ,
Financial Decoder ,
MoneyWatch ,
CEO ,
gender gap ,
glass ceiling
Topics:
Financial Decoder
December 10, 2009 11:33 AM

Cut Your Taxes Now!


This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.



I was on The Early Show yesterday discussing year-end tax tips. I love these segments because they usually lead to found money, which is always a good thing around the holidays.

Click here to view the video segment.

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Tags:
Jill Schlesinger ,
Financial Decoder ,
MoneyWatch ,
taxes ,
income ,
year-end ,
529 plan
Topics:
Financial Decoder
December 8, 2009 1:15 PM

Job Market Is a Long Way from Recovery

(iStockphoto)
At the end of this month the Great Recession will officially be two years old. This will be the longest economic crisis in the United States since the Great Depression and the longest American recession since Chester Arthur was president. That 1882-1885 recession was sparked when the railroad boom bubble popped, wiping-out thousands of construction jobs. Sound somewhat familiar?

Of course, all recessions result in job losses. What's helped the American economy recover quickly in the past are innovations that have created new employment to replace the jobs lost during the downturn. One recent example is the employment opportunity created by the explosion in internet-related businesses that followed the 1990-1991 recession.

Unfortunately, there does not seem to be a giant job engine quickly emerging to help the 26.9 million Americans out of work or in part-time jobs find good paying jobs that create prosperity. This is the hand the Obama Administration has been dealt as it approaches its first full year in the White House.

President Obama's new plan to push left over money from the Troubled Asset Relief Program to small business and infrastructure construction is designed to bring the unemployment rate down from 10 percent. The administration's proposal includes tax cuts for small business and tax credits to firms that do hire.

(AP Photo/Susan Walsh)
Proponents of the plan are quick to point out that small businesses create about 2 out of 3 new jobs in America. Small businesses are also usually better at innovation. Somewhere there's a grad student and some buddies creating the next Microsoft. The Administration hopes these moves will help such a start-up bloom quickly.

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Tags:
Economy ,
Job Market ,
Barack Obama
Topics:
Jobs
December 8, 2009 11:09 AM

Is The Stock Market Rally Tired?


This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.



Watching the stock market action lately, I recall one of my favorite Mel Brooks movies, "Blazing Saddles". In it, Madeline Kahn's character Lili Von Shtupp, croons in Marlene Dietrich-esque "I'm tired...Tired of being admired, Tired of love uninspired, Let's face it, I'M TIRED!"

(AP Photo/Mark J. Terrill)

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Tags:
Jill Schlesinger ,
MoneyWatch ,
Financial Decoder ,
Mel Brooks ,
Blazing Saddles ,
bulls ,
bears ,
stock market rally
Topics:
Financial Decoder
December 7, 2009 3:01 PM

$200B TARP Money NOT Going To Elin Woods!


This post by Jill Schlesinger originally appeared on CBS' MoneyWatch.com.



Over the weekend, the government found $200 billion in TARP money and Elin Woods discovered a few more paramours were hanging with husband Tiger. (If that $60 million enhancement to the pre-nup is true, it looks like Elin the scorned will be collecting $6.66M per girlfriend!)

(AP Photo/Lenny Ignelzi)

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Jill Schlesinger ,
MoneyWatch ,
Financial Decoder ,
Elin Woods ,
Tiger Woods ,
TARP ,
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Topics:
Financial Decoder

60 Minutes

President Obama's first extensive interview since his Afghanistan decision. Growing body parts, and comedian Ricky Gervais.
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