Word: chargees
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This week the largest financial firms in the nation have been reporting how they did in the last three months of 2009. In two words: not good. Citigroup and Bank of America lost roughly $8 billion and $5 billion, respectively. The credit-card and mortgage businesses of JPMorgan Chase, which...
"Banks write-offs usually come after the economy has already cracked," says James Paulson, chief investment officer of Wells Capital Management. "The charge-off rate looks to have peaked." (See the worst business deals of 2009.)
A big printed shoe fell on Wednesday, when the New York Times partially lifted the veil on its plan to charge for access to its website. Speculation has been rife in media circles on how the nation's most influential and successful paper would go about touching what some consider...
Pennsylvania has long been known for shady politics, but this year promises to be particularly ugly as series of corruption trials unfold, all stemming from a sweeping probe known as "Bonusgate." Prosecutors charge that leaders of both parties in the state House of Representatives flagrantly ignored the law, using taxpayer...
With so many legislators indicted in the most sweeping Pennsylvania political scandal in decades, Bonusgate has left a yawning power vacuum in the 253-seat General Assembly, with neither the governor nor party leaders able to take charge of key legislation. The most striking example was the bruising fight over...