After ramping up in the spring and summer, residential rents in Brownstone Brooklyn began to ease in October and continued to decline through the end of the year. That's the big take-away from Ideal Properties' year-end report. …
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CALL HIM WELFARE SPIKE
SPIKE Lee owns houses on the Upper East Side and on Martha's Vineyard, and he sends his kids to private schools. But he's a big whiner when it comes to his wealth. "It's not rich rich," he moaned to Britain's Observer. "Rich is Spielberg. Lucas...…
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Pence Challenges Americans To ‘Check’ His Facts: Guess What? He’s Got Them Wrong
Appearing on CSPAN’s Washington Journal this morning, Rep. Mike Pence (R-IN), the third ranking Republican in the House, repeatedly claimed that the solution to the economic crisis was to “do what Ronald Reagan did” and implement “across-the-board permanent marginal tax reductions.” Towards the end …
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On ABC, Dem Barney Frank Rages at 'Distortions' of Chris Cuomo
"Good Morning America" news anchor Chris Cuomo on Tuesday actually challenged liberal House member Barney Frank over how Congress has spent the bailout money. At one point, after the host implored Frank to think of the American taxpayers, the irritated congressman commanded, "I'm sorry, sir, but- …
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Lyondell Files for Bankruptcy
Lyondell Files for Bankruptcy January 6, 2009, 5:51 pm The American operations of LyondellBasell, the giant chemical maker, filed for bankruptcy on Tuesday as it struggled with dropping demand and a heavy debt burden. In a petition filed in federal bankruptcy court in Manhattan, Lyondell Chemical said it had $27 billion in assets and more than $19 billion in debt. …
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Successor Named for Merrill's Brokerage Chief
Successor Named for Merrill’s Brokerage Chief January 6, 2009, 5:38 pm Bank of America has named Dan Sontag to head Merrill Lynch Global Wealth Management, its retail brokerage unit, according to an internal memo. Mr. Sontag will fill a spot being vacated by Bob McCann, who is leaving less than a week after the bank completed its acquisition of the securities firm. …
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Buybacks: Not All They're Cracked Up to Be
Excited about a big new buyback? Companies such as Microsoft (MSFT), [[IBM]] and Exxon (XOM) had some of the largest buyback announcements in 2008. However upon closer inspection, an announcement, or rather authorization, is not always an indication of corporate spending. …
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Toll's CEO Toll Still Unloading Toll Stock (TOL)
Homebuilders are supposed to be a winners under the new tax incentive plan and with mortgages now priced at less than 5%. But after the close came a filing... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] …
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Fed Outlook Darkens on Economy
The Fed signaled in minutes from its December meeting that the recession could be longer and deeper than officials thought just weeks ago.…
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Stimulus Would Expand Tax Credit
Obama met with lawmakers to begin selling his stimulus plan as his advisers offered more details, including a proposal to expand the child tax credit for poor families.…
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Op-Ed Columnist: Fighting Off Depression
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Alcoa to cut 13 pct of global work force
Alcoa Inc., the world's third-largest aluminum maker, said Tuesday it will cut 13,500 jobs, or 13 percent of its work force, and slash spending and output to cope with the global economic slowdown. The reductions expand on cost-cutting measures announced…
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Wealth of U.S. millionaires down 30 percent: survey
NEW YORK (Reuters) - American millionaires have seen their assets shrink by 30 percent during the economic crisis, a report said on Tuesday, with only 36 percent of them pleased with the performance of their financial advisers.…
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Bringing Macs into business: Real-life IT stories
As more businesses bring Apple Macintoshes into their regular operations, IT has to figure out how to ensure the Macs play well in the typical Windows-dominated environments. Several companies share the lessons -- good and bad -- that they have learned.…
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WHY YOU SHOULD KEEP A WARY EYE ON US TREASURIES
THIS year you should worry about bonds. You say you don't own any. Well, that doesn't really matter because if the bond market is in a bubble - like I think it is - and it bursts, then the whole economy is going to suffer even greater pain...…
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