5 Underreported Stories of 2011
As we close the books on 2011, here, in totality, are five underreported stories (as put together by me) for Current.com:
(via cheatsheet)
Traders seem to believe firm is next MF Global, Bear Stearns, or Lehman Brothers.
On Wall Street, where traders find an edge by having their orders placed a millisecond earlier than the next guy’s and the speed at which trades are executed seems constrained only by physical barriers like the speed of light, nothing moves faster than a negative rumor.
On Monday, March 10, 2008, rumor started that investment banker Bear Stearns was having liquidity problems. In fact, the maverick investment bank had around $18 billion in cash reserves. But soon, the speculation created its own reality, and the race was on to keep Bear Stearns’ crisis from ravaging the wider market. And we all know what happened after that.
As the reporting of unexpectedly gargantuan, supposedly once-in-a-lifetime losses by esteemed financial institutions has seemingly become the market’s norm during the ongoing financial crisis, investors have understandably become ever more skeptical. Multiplying their fear through the interconnected web of gossip and news that flows through the financial institutions of New York and London, they’ve grown almost paranoid, maniacally trying to avoid any situation where they’re the last one left when the party ends and the lights go off.
Could this be the case with Jefferies Group Inc., a mid-market pure play investment bank that has been battered for weeks first by a steady feed of negative rumors?
Here are the facts:…
……
Rumors: Starbucks heading for its biggest change?
Soon, Starbucks could dedicate half of each outpost to, of all things, cold-pressed juices. According to the New York Post, Starbucks CEO Howard Schultz became obsessed with the juices after visiting East Village juice bar Liquiteria. He got so excited about the idea that he hired veteran juicer Yohana Bencosme away from the dispensary and flew her out to Seattle to train his employees in the ways of fresh juices.
A representative from Starbucks called the Huffington Post to issue a statement on the rumors. “I can confirm that Yohana has joined Starbucks, and we’re very excited to have her,” he said. “Everything else, though, is really rumor at this point, and I can’t comment on it.”
(Source: The Huffington Post)
Obama jobs bill stalls in Senate
With Republicans united in opposition, joined by three Democrats, the Senate voted 50 to 49 to open debate on the measure, 10 votes short of the 60 needed to overcome procedural objections.
Anticipating the defeat earlier Tuesday during a stop in Pittsburgh, Mr. Obama acknowledged that he was making plans for what to do next.
“If they don’t pass the whole package, we’re going to break it up into different parts,” he said, echoing White House officials who have said that they would seek to push individual components of the bill that had the best chance for passage.
(Source: The New York Times)
Statement by Apple’s Board of Directors
CUPERTINO, Calif.—(BUSINESS WIRE)—We are deeply saddened to announce that Steve Jobs passed away today.
Steve’s brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve.
His greatest love was for his wife, Laurene, and his family. Our hearts go out to them and to all who were touched by his extraordinary gifts.
(Source: joshsternberg, via shortformblog)
2012 Federal Income Tax Brackets (IRS Tax Rates)
Federal Income Tax Brackets for 2012
Every year around this time, tax experts get together and use inflation data to project what the next year’s income tax brackets will look like. Here’s a quick rundown of what the Federal income tax brackets are expected to look like in 2012:
Tax Bracket Married Filing Jointly Single 10% Bracket $0 – $17,400 $0 – $8,700 15% Bracket $17,400 – $70,700 $8,700 – $35,350 25% Bracket $70,700 – $142,700 $35,350 – $85,650 28% Bracket $142,700 – $217,450 $85,650 – $178,650 33% Bracket $217,450 – $388,350 $178,650 – $388,350 35% Bracket Over $388,350 Over $388,350
And here are a few related points:
- The personal and dependency exemption will rise to $3,800
- The standard deduction for married filing jointly will rise to $11,900
- The standard deduction for singles will rise to $5,950
Looking ahead, last year’s fighting resulted in a two year extension of the Bush-era tax cuts, which means that their currently set to expire at the end of 2012. As for what 2013 has in store for us, your guess is as good as mine.
(Source: fivecentnickel.com)
