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2010 October 27 | Activist News
Disobey

The Road to World War 3

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Edward Snowden

Open Letter To Obama

July 26, 2013 President Barack Obama The White House 1600 Pennsylvania Avenue, N.W. Washington, D.C. 20500 Re: Civil Disobedience, Edward J. Snowden, and the Constitution Dear Mr. President: You are acutely aware More »

greed3

U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

Huffington Post July 1, 2013 By Mark Gongloff Big, profitable U.S. companies paid an average federal tax rate of less than 13 percent in 2010, according to a new study — or More »

jeff olsen

Man Tried for Chalk Drawings Found Not Guilty

NBC San Diego July 1, 2013 By Christina London The man accused of vandalism for drawing with chalk outside banks has been found not guilty on all charges. A jury returned its More »

freedom-of-the-press

The Bigger Story Behind the AP Spying Scandal

Washington’s Blog/Global Research May 20, 2012 By George Washington Attack on the Press You know that the Department of Justice tapped scores of phone lines at the Associated Press. You might have More »

Daily Archives: October 27, 2010

Fed Won’t Join Appeal to Keep Its Loans Secret

Bloomberg News
October 27, 2010

The Federal Reserve will not join a group of leading commercial banks in asking the Supreme Court to allow the government to withhold details of emergency loans made to financial companies in 2008.

Because of this decision, the court is less likely to hear the case, said Thomas C. Goldstein, a Washington lawyer who has argued 22 cases before the Supreme Court since 1999 and whose Scotusblog Web site tracks the court.

The Clearing House Association, a group of the biggest commercial banks, filed the appeal on Tuesday. Under federal rules for appeals, a lower court’s order requiring disclosure remains postponed until the Supreme Court acts.

The association is appealing a federal judge’s ruling that requires the Fed to disclose records of its emergency lending. Until Tuesday, the Fed had been part of the appeal process. Bloomberg L.P., the parent company of Bloomberg News, sued for the release of the documents under the Freedom of Information Act.

Full Article Here – http://www.nytimes.com/2010/10/27/business/27fed.html?_r=1

U.S. companies hoarding almost $1 trillion cash: Moody’s

Reuters
October 26, 2010

NEW YORK (Reuters) – U.S. companies are hoarding almost $1 trillion in cash but are unlikely to spend on expanding their business and hiring new employees due to continuing uncertainty about the strength of the economy, Moody’s Investors Service said on Tuesday.

As the economy stabilizes companies are also more likely to spend on share repurchases and mergers and acquisitions, Moody’s added.

Companies cut costs, reduced investment in plants and equipment and downsized operations in order to boost cash holdings during the recession. As the corporate bond market reopened many companies also boosted cash levels by selling debt and refinancing near-term debt maturities.

Nonfinancial U.S. companies are sitting on $943 billion of cash and short-term investments, as of mid-year 2010, compared with $775 billion at the end of 2008, Moody’s said. This would be enough to cover a year’s worth of capital spending and dividends and still have $121 billion left over, it said.

However, “we believe companies are looking for greater certainty about the economy and signs of a permanent increase in sales before they let go of their cash hoards, which they suffered so much to build,” Moody’s said in a report.

“Given low demand and capacity utilization within certain industries, companies are wary of investing their cash in new capacity and adding workers, thereby doing little to abbreviate the jobless recovery,” it added.

Around one quarter of the cash is held overseas and is unlikely to be repatriated to the United States, Moody’s said.

Meanwhile only 20 companies hold a large portion of corporate cash balances, with $346 billion on their balance sheets, or 37 percent of the total, Moody’s said.

Full Article Here – http://news.yahoo.com/s/nm/20101027/bs_nm/us_corporates_cash_moodys