Two telling news reports today about retailers from metropolitan Seattle. First: NEW YORK (Reuters) – Costco Wholesale Corp warned on Wednesday that its quarterly profit would miss current Wall Street targets because of soaring energy costs and other inflationary pressures, sending shares of the No. 1 U.S. warehouse club operator down as much as 13.5 [...]
Tomorrow the federal minimum wage goes up 70 cents to $6.55 an hour. Rather than join in either side of the outrage—the people who think $6.55 is still way low (including, ostensibly, the 23 states with higher floors) or the people who think the minimum wage is an unforgivable distortion of supply and demand that [...]
John Paulson, the hedge fund guy who made the spectacularly dead-on bet that the market for mortgage securities would go haywire last year (and took home a paycheck in the vicinity of $3.7 billion in the process), is planning a new fund that would invest in financial companies. The fund would “provide capital to financial [...]
