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Entries by Julie Satow from 04/2009

FAS 157-e: Accounting Change Could Undermine Treasury's Toxic Asset Plan

Posted 04.01.2009 | Business

A vote is scheduled Thursday on a proposed accounting rule change that could undermine the Treasury's toxic asset plan, the Wall Street Journal report...

Wall Street opens 2nd quarter with a gain

Posted 04.01.2009 | Business

NEW YORK — Wall Street opened the second quarter with solid gains, extending a four-week rally that brought the market off its lowest levels in ...

Pending home sales up in sign of life for housing

Posted 04.01.2009 | Business

WASHINGTON — Tentative signs of life are appearing in the long-battered U.S. housing market. Thanks to historically low mortgage rates and deep...

Town sues Madoff, hedge funds over losses

Posted 04.01.2009 | Business

FAIRFIELD, Conn. — A Connecticut town is suing disgraced financier Bernard Madoff, his family and investment companies because its pension board...

Fairfield Greenwich Advisors Charged With Fraud

Posted 04.01.2009 | Business

BOSTON — Massachusetts' top securities regulator accused a major feeder fund for Bernard Madoff's fraudulent investment scheme of misrepresentin...

Fairfield Greenwich's Andres Piedrahita: $45 Million Compensation To Give Money To Madoff

Posted 04.01.2009 | Business

In case you were wondering how Fairfield Greenwich Group's principals paid for their lives (18,000 sq ft villas in Mustique, G3s, race horses, etc.), ...

Reed Krakoff's Mansion: Back On Market For $52 Million

Posted 04.01.2009 | Huffington Post

Reed Krakoff's massive mansion is back from the dead. Three and a half years since 115 East 70th Street was bought for $17 million, and two and a h...

Blackberry App Store Launched

Posted 04.01.2009 | Business

Research In Motion launched the official BlackBerry App World application store today, giving BlackBerry owners an easy way to download new applicatio...

Conficker Worm: Computer Virus Wakes Up, But Is Quiet

Posted 04.01.2009 | Business

The "Conficker" worm is live within Australia and elsewhere in the world, security vendors have confirmed, where it is April 1. At this point, however...

Rick Wagoner's Life Of Luxury: Rolling In Dough As General Motors Went Bust

Posted 04.01.2009 | Business

The man who was behind the wheel while GM motored toward bankruptcy has bailed out with a ton of loot! While General Motors lost more than $84 bill...

Rick Wagoner's Home (PICTURES)

Posted 04.01.2009 | Business

Rick Wagoner lived a life of luxury as General Motors deteriorated. RadarOnline has pictures of his mansion. ...

UPDATED: Julian Schnabel's Palazzo Chupi Suffers From Downturn (SLIDESHOW)

Posted 04.01.2009 | Business

As the Manhattan real estate market gets pummeled, artist and filmmaker Julian Schnabel's Pompeii-red Palazzo Chupi, a five-unit building in the West ...

Rite Aid Writedowns Doubles 4Q Loss

Posted 04.02.2009 | Business

NEW YORK — After Rite Aid Corp.'s loss doubled in the the fiscal fourth quarter, the drugstore operator is planning to shut down as many as 117 ...

Record Credit Card Charge-offs

Posted 04.02.2009 | Business

NEW YORK -- Credit card write-downs soared to record levels in February, representing an all-time high in the 20-year history of the Moody's Credit Ca...

American Airlines Union Goes Viral Against Executives

Posted 04.02.2009 | Business

DALLAS — Unions at American Airlines have picketed, worn buttons and rented billboards to protest what they consider unseemly management bonuses...

NCAA, Colleges: Sports Marketing A Big Push

Posted 04.02.2009 | Business

The first NCAA basketball tournament wrapped up 70 years ago at Northwestern University's old Patten Gymnasium, with Oregon winning it all. There was ...

Stocks extend 4-week rally; Dow breaches 8,000

Posted 04.02.2009 | Business

NEW YORK — Investors dove into stocks Thursday, extending a rally that gave the Dow Jones industrial average its best four weeks since 1933. St...

Mark-To-Market Accounting Changes Made

Posted 04.02.2009 | Business

WASHINGTON (Reuters) -- U.S. accounting rulemakers on Thursday agreed to make adjustments to a proposal to change mark-to-market accounting rules conc...

Hank Greenberg: AIG Should Return Money

Posted 04.02.2009 | Business

April 2 (Bloomberg) -- Banks that benefited from the bailout of American International Group Inc. should return some of the cash the firms got in exch...

Hedge Fund Bridgewater Associates: Not Participaing In Geithner's Treasury Plan

Posted 04.02.2009 | Business

Bridgewater Associates, the $71 billion money-management firm, has come out against participating in Treasury Secretary Tim Geithner's plan to get pri...

Layoff Insurance: Latest Homebuyer Incentive

Posted 04.02.2009 | Business

LOS ANGELES — Free granite countertops, swimming pools and landscaping aren't going to convince anyone who's afraid of losing a job to buy a hom...

UBS Tax Probe: US Citizen Charged, First One

Posted 04.02.2009 | Business

MIAMI (AP) -- A yacht company accountant became the first U.S. citizen Thursday to be charged in the government's investigation into wealthy citizens ...

Hank Greenberg: AIG Should Return Money, Offers Blistering Testimony On Hill

Posted 04.02.2009 | Business

Forced to retire from atop AIG in 2005 and still reportedly angry about his removal, Hank Greenberg offered what was, at times, a blistering testimony...

American Airlines, Citibank In Talks To Boost Cash

Posted 04.03.2009 | Business

(Reuters) -- AMR Corp's (AMR.N) American Airlines is in early talks to raise cash from its credit card partner, Citigroup (C.N), by selling it frequen...

Unemployment soars to 8.5 pct.; 13 million jobless

Posted 04.03.2009 | Business

WASHINGTON — Unemployment zoomed to 8.5 percent last month, the highest in a quarter-century, as employers axed 663,000 more workers and pushed ...