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Yepoka Yeebo

Entries by Yepoka Yeebo

U.S. Economy Slows To A Crawl -- At Least For Now

(369) Comments | Posted April 28, 2011 | 6:28 PM

NEW YORK -- At least temporarily, the U.S. economy has slowed to a crawl.

U.S. gross domestic product -- one of the key gauges of overall economic growth -– fell dramatically to 1.8 percent in the first three months of this year after growing at a rate of 3.1...

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Steve Schwarzman: Even Rich Americans Need To 'Give Something Up' To Narrow Deficit (VIDEO)

(120) Comments | Posted April 26, 2011 | 9:40 AM

The billionaire who last year compared Obama's attempts to raise taxes on private equity firms with Hitler's invasion of Poland, on Monday said even rich Americans will have to "give something up" to help narrow the deficit.

In response to a question about raising taxes on the richest...

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Soaring Costs Force Some Renters To Choose Between Shelter And Food

(7442) Comments | Posted April 26, 2011 | 8:57 AM

NEW YORK -- Around 10 million American households -- or one in every four families that rent their homes -- could have to choose between paying rent, buying groceries or keeping current with bills, according to a report released Tuesday.

The number of households spending more than 50...

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Manufacturing Sector Won't Solve Jobs Crisis, Economists Say

(270) Comments | Posted April 21, 2011 | 11:54 AM

With overall economic growth sluggish, the U.S. manufacturing sector took charge in the first quarter, growing over three times faster than the broader economy. Regardless of growth, however, don't expect manufacturing to solve the jobs crisis.

In the past week, companies across the manufacturing sector released quarterly results...

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Obama Officials Privately Asked S&P Not To Lower U.S. Credit Outlook: Report

(1678) Comments | Posted April 20, 2011 | 8:16 AM

In the weeks before Standard & Poor's officially lowered its outlook on U.S. credit, Obama administration officials repeatedly attempted to convince the credit rating agency not to make the switch, The Washington Post reported on Wednesday.

Fearing the move could jeopardize the country's current AAA credit rating --...

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U.S Multinationals Increasingly Hiring Abroad, Firing At Home

(3105) Comments | Posted April 19, 2011 | 1:32 PM

Large U.S. companies increasingly hire abroad and fire in America, according to new government data.

In the last decade, American multinational corporations, which together employ one-fifth of all U.S. workers, decreased domestic employment by 2.9 million workers while adding 2.4 million jobs overseas, the Commerce Department reported on Monday.

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Alan Greenspan: U.S. Must 'Let Bush Tax Cuts Lapse' (VIDEO)

(108) Comments | Posted April 18, 2011 | 8:22 AM

With the risk of a national debt crisis lurking over the nation, former Federal Reserve chairman Alan Greenspan can't agree with continuing vast tax cuts for America's richest taxpayers.

Appearing on MSNBC's Meet The Press on Sunday, Greenspan was trenchant, saying that Bush-era tax cuts, extended last year

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Soaring Food, Oil Prices Still Don't Indicate Real Inflation, Economists Say

(554) Comments | Posted April 15, 2011 | 1:27 PM

Despite American consumers being hard hit by rising gas and grocery prices, federal regulators continue to insist the country need not fear inflation.

Gas prices, which rose nearly 6 percent in March alone, are now almost 28 percent higher than they were a year ago, according to figures from the...

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Foreclosure Filings Plunge In First Quarter As Lenders Get Stuck With Paperwork

(73) Comments | Posted April 14, 2011 | 1:00 PM

Foreclosure filings fell to a three-year low in the first three months of the year, thanks mostly because of stalled paperwork, according to a report released Thursday.

In the first quarter of 2011, home repossession filings were down 30 percent from one year prior to 680,000, RealtyTrac...

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Gas Prices Drive Retail Sales Up In March

(26) Comments | Posted April 13, 2011 | 9:20 AM

Higher gas prices buoyed a 0.4 percent jump in retail sales in March, according to figures released by the Commerce Department on Wednesday.

Consumer spending, which makes up 70 percent of the U.S. economy, is up over 7 percent since last March and has risen for nine consecutive...

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Infrastructure Improvements 'Key To Recovery,' Report Says

(5643) Comments | Posted April 12, 2011 | 9:53 AM

The U.S. needs to improve crumbling infrastructure to boost the recovery, according to a report released on Tuesday.

The report comes as federal efforts to invest in infrastructure took a hit in budget negotiations, with $1.5 billion of funding slashed from an Obama administration project to...

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SEC May Make It Easier (For Some) To Buy Into The Next Facebook

(16) Comments | Posted April 11, 2011 | 2:51 PM

NEW YORK -- It may soon become a lot easier for startups to raise capital -- and avoid the regulatory scrutiny and costs associated with going public.

The Securities and Exchange Commission is weighing changes to limits on the number of shareholders a private company can have...

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Foreclosure Investors Flip Homes, Reap Rewards

(2666) Comments | Posted April 10, 2011 | 9:55 PM

Mary Jane McGraw knew her foreclosure ordeal was over when a man showed up on her doorstep and told her that her home in Oak Park, Calif., had been sold. She had a month to leave.

McGraw, 66, hadn't been able to make a mortgage payment for a year but...

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Politicians Call On FDIC To Protect Affordable Housing

(68) Comments | Posted April 7, 2011 | 5:02 PM

NEW YORK -- City politicians are calling on federal regulators to start making use of a little-known provision in the sweeping financial reform bill passed last year that could help protect housing for low-income residents.

Local politicians, residents and housing activists gathered outside a dilapidated Bronx building Thursday to launch...

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What Larry Page Must Tackle As Google CEO

(49) Comments | Posted April 4, 2011 | 9:26 AM

As Google's Larry Page becomes CEO for a second time on Monday, analysts say the co-founder must help the Silicon Valley giant, which has been hit by lawsuits, government inquiries, and failed acquisition attempts, regain its lost luster and startup speed in order to fend off increasingly powerful...

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As CEO Pay Soars, Many New Jobs Fail To Provide A Living Wage

(675) Comments | Posted April 1, 2011 | 8:45 AM

Despite a falling unemployment rate and encouraging signs of a healing economy, a new report suggests America is not adding the right kind of jobs.

Most newly-created jobs don't pay enough to meet even the most basic of needs, according to a report released by Wider Opportunities for...

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Jury Awards Homeowner $21 Million In Mortgage Lawsuit

(783) Comments | Posted March 30, 2011 | 12:26 PM

A federal jury has awarded a Georgia man more than $21 million in a lawsuit pitting the homeowner against one of the nation's largest mortgage servicers.

U.S. Army sergeant David Brash was awarded the damages in March, after a Columbus, Ga. jury found that PHH Mortgage, the country's

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Inflation Hits Levels Not Seen Since Financial Crisis, OECD Says

(1313) Comments | Posted March 29, 2011 | 9:38 AM

Inflation is back, and it's not limited to America.

Prices in developed countries are rising at the highest rate since the financial crisis first started in 2008, caused largely by increasing food and gas prices, according to figures released on Thursday by the Organization for Economic Co-operation...

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Still Protecting Children, Decades After A Chance Encounter

(6) Comments | Posted March 28, 2011 | 4:45 PM

This post is part of our month-long series featuring Greatest Women of the Day, in recognition of Women's History Month.

To nominate a Greatest Woman of the Day, e-mail

Sara O'Meara and Yvonne Fedderson met on the set of 1950s sitcom "The Adventures of Ozzie & Harriet"...

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Consumer Spending Up -- Thanks To Higher Gas And Food Prices

(120) Comments | Posted March 28, 2011 | 7:45 AM

Consumer spending increased in February for the eighth straight month, but much of the gain came from steadily rising gas prices and higher grocery bills.

Spending by shoppers, which makes up about 70 percent of the U.S. economy, rose by 0.7 percent in February according to Commerce...

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