Just when it appeared things couldn’t get worse for Best Buy shareholders, this morning the firm released a downright grim earnings report showing that profit slumped a jaw-dropping 91% in the second quarter. Shares then slid …
In an effort to nurse the long-ailing global economy, central banks around the world have maintained near-zero short-term interest rates for many years now. The Federal Reserve has even gone so far as to buy up billions of …
MF Global, JP Morgan’s Whale Fail, LIBOR rate-rigging: The financial services industry has been cranking out scandal like it’s going out of style. The incidence of financial scandal has become so frequent, in fact, that each …
Once upon a time, New York City’s Times Square was plagued with Three Card Monte dealers who made their living bilking unsuspecting tourists out of their five and ten dollar bills with the aid of paid shills and a little …
There are few more enduring symbols of American consumerism – or American culture in general – than the shopping mall. The first modern, fully enclosed mall, the Southdale Shopping Center, was built in Edina, Minnesota – …
Another week, another Wall Street scandal, and another opportunity for pundits to bemoan the incompetence and venality of America’s financial professionals. Last Wednesday’s near collapse of Knight Capital Partners – in which a …
Richard Schulze, the founder and former CEO of Best Buy, submitted a written proposal this morning to the firm’s board offering $24 to $26 per share to take the electronics retailer private.
It’s been five years since the 2008 financial crisis upended the global economy, and while corporate profits and national output have recovered, there are still 4.7 million fewer private sector jobs than at the beginning of the …
Widespread principal reduction for underwater homes has long been the Holy Grail for many observers of the housing market, as well as for those who believe the weak housing market is one of the heaviest burdens weighing on the …
The Federal Reserve’s monetary policy brain trust – the Federal Open Market Committee (FOMC) — meets again today, and after a month of disappointing economic news following June’s meeting, the financial world is eagerly …
There have been some positive signs for the housing market lately, with many saying that real estate has finally hit bottom. The end of relentlessly falling real estate prices will have a positive effect on the economy by …
Since the financial crisis of 2008, there have been a host of critics of the banking industry who have called for hard caps on the size of banking institutions, as well as the separation of commercial banking activity like …
