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Entries by William Alden from 01/2011

Unions Threatened By State Governments

Posted 01.04.2011 | Business

As labor costs continue to strain state budgets, governors and lawmakers have proposed monumental reforms to public labor unions, the New York Times r...

Banks Considering New Fees On Cards And Checking Accounts

Posted 01.05.2011 | Business

In response to new regulations, banks are carefully guarding one of their most reliable profit streams: the fees they charge customers for basic banki...

Big Companies Set For Best Fourth Quarter Profit Ever

Posted 01.07.2011 | Business

Even as unemployment remains high and Americans' finances slowly mend, big companies may be set for their most profitable fourth quarter on record. ...

Budget Woes Threaten Vital Services In New York City: 'When Parents Hear About This, They Start To Cry'

Posted 01.07.2011 | Business

NEW YORK -- The children at Strong Place day care in Brooklyn can recognize a Van Gogh. They can discuss the effects of acid rain. Some of these presc...

Stress Tests For Banks Will Be Kept Secret

Posted 01.10.2011 | Business

Wall Street's largest firms will undergo scrutiny by the Federal Reserve in the coming months, as they submit to a new round of "stress tests," design...

Wage Drop Has Been Worst In Decades

Posted 01.11.2011 | Business

Wages for American workers have fallen dramatically since the financial crisis, in what will likely turn out to be the worst such plunge since the Gre...

City Bankruptcies Will Increase, Dimon Warns

Posted 01.12.2011 | Business

As cities across the nation face increasing budget strains, the vocal group of experts warning about municipal defaults has gained a powerful member: ...

Homelessness In The Middle Class: Stable Families Reduced To Poverty

Posted 01.12.2011 | Business

SANTA ANA, Calif. -- Three and a half years ago, Kathleen Cooke was breathing easy. Having left her well-paying job for a new career as a teacher, she...

Treasury Launches Debit Cards For Tax Refunds

Posted 01.13.2011 | Business

Americans without bank accounts may soon be able to carry debit cards. The Treasury Department is rolling out a new program to let people collect tax...

City Debt Market Hits Worst Level Since Crisis

Posted 01.14.2011 | Business

As the financial struggles of cities and states become ever more worrisome to investors, the market in their debt has hit its lowest level since the f...

'The Truth Behind The Jobless Recovery': Startups Can't Find Funding

Posted 01.15.2011 | Business

Even as the nation lacks the jobs to employ millions of workers, one crucial source of job-creation is being squelched: New businesses, which, accordi...

Black Americans Especially Vulnerable To Budget Austerity, Study Shows

Posted 01.17.2011 | Business

Whenever governments cut spending, the pain is uneven. But African Americans are especially vulnerable, as a disproportionately high number rely on g...

How Steve Jobs' Medical Leave Could Affect Apple's Stock

Posted 01.18.2011 | Business

UPDATE: Apple stock was down about 2.5 percent in midday trading. When the CEO of the world's second most valuable company takes a medical leave ...

China's Currency Controls Aren't Just A U.S. Problem: Mark Wu

Posted 01.18.2011 | Business

As U.S. government officials continue to pressure China to allow the value of its currency to rise, the stakes of the debate may have become overblown...

Camden, NJ, One Of America's Most Dangerous Cities, Lays Off Half Of Its Police Force

Posted 01.18.2011 | Business

Budget pain hit home in Camden, N.J., on Tuesday, as nearly a sixth of city employees lost their jobs in one of America's most dangerous cities, AP re...

Bank CEOs Would Promise Regulatory Compliance, Under New Proposal

Posted 01.19.2011 | Business

In an effort to make financial regulation more airtight, a government oversight panel has recommended a new wrinkle: that bank chiefs should personall...

BancAlliance: Former Treasury Advisor Starting Company That Could Help Small Banks

Posted 01.20.2011 | Business

In an effort to restore a crucial segment of the economy that was wounded in the financial crisis, a former government official is starting a company ...

The State Bankruptcy Meme: How It's Metastasizing In The Media

Posted 01.21.2011 | Business

Talk of introducing legislation allowing states to declare bankruptcy began in earnest in November. A speech by Newt Gingrich was followed up by a big...

Chinese Bank, ICBC, To Buy Stake In U.S. Bank

Posted 01.21.2011 | Business

Industrial and Commercial Bank of China (1398.HK) agreed to acquire a majority stake in the Bank of East Asia's (0023.HK) U.S. unit, making it the fi...

4 Small Banks Closed By FDIC

Posted 01.22.2011 | Business

WASHINGTON (Reuters) - U.S. authorities closed four banks -- one in Denver and three in the U.S. Southeast -- on Friday with total assets of $2.7 bi...

Euro Zone Could Buy Back Strapped Countries' Debt

Posted 01.22.2011 | Business

(Reuters) - European leaders should not shy away from a proposal to buy back the bonds of troubled euro member states but should not rely too much o...

Texas Governor Rails Against 'Bailouts,' But Uses Stimulus To Prop Up Budget

Posted 01.24.2011 | Business

The nation's states face budget strains -- even one that says it doesn't. Texas filled nearly 97 percent of its shortfall last year with Federal st...

A Look Back At Failed Presidential Promises On The Economy

Posted 01.25.2011 | Business

When it comes to job growth, has President Barack Obama kept all the promises he's made to the American people? Will he be able to keep the promises h...

Obama Spending Freeze Would Save $200 Billion: Report

Posted 01.26.2011 | Business

President Barack Obama proposed a five-year freeze in government spending in his State of the Union speech Tuesday night, but the actual significance ...

Allen Stanford Ruled Unfit To Stand Trial

Posted 01.27.2011 | Business

HOUSTON — A judge has ordered that former Texas billionaire and financier R. Allen Stanford, awaiting trial on charges he bilked investors out o...