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View Article  Fred Harteis News Articles - Merrill nears deal to sell Bloomberg stake: report

Fred Harteis News Articles - Merrill Lynch & Co may sell its 20 percent stake in financial news and data provider Bloomberg LP to a blind trust controlled by New York City Mayor Michael Bloomberg, The New York Post reported on Friday.

 

Details about the terms of a sale remain sketchy, the Post said, and sources warned that a deal could still fall apart.

 

The sale is part of a broader plan by cash-strapped Merrill to raise about $50 billion through various asset sales, the Post said, citing ...   more »

View Article  Harteis Biznet Economic News Articles - Five Surprising Salaries

Fred Harteis News Articles - Much has been made of people who live beyond their means. When you see a neighbor bring home a fancy new car, you can't help but wonder how she can afford it on her salary. However, you can't assume you know how much she (or anybody) makes unless you've seen her tax returns.

 

Plenty of people earn surprising paychecks -- some higher and others lower than you expect. For this reason we've put together a list of jobs and their unexpected salaries. It's good ...   more »

View Article  Harteis Biznet Economic News -Oil hits record over $143 on Iran-Israel tensions

Fred Harteis Economic News - - Oil prices hit a record high above $143 a barrel on Monday as mounting tensions between Iran and Israel stirred supply concerns.

 

U.S. crude was up 65 cents at $140.86 a barrel by 1:30 p.m. EDT, as weak U.S. oil demand pulled prices off a record high $143.67 hit earlier. London Brent crude gained 57 cents to trade at $140.88 a barrel.

 

The U.S. Energy Information Administration revised downward U.S. April oil demand by 863,000 barrels per day to 19.77 million bpd ...   more »

View Article  Fred Harteis News Articles - Protect yourself from a slow economy

Fred Harteis News Articles - You've been hearing about how bad the economy is recently. But no matter how bad the news may get, there are some things you can do to insulate yourself from the slowing economy.

 

Put your rebate to work

Uncle Sam is going to be mailing out rebate checks in May.

 

If the last two digits of your Social Security number are in the lower digits, you'll be getting your check sooner. And retailers are salivating.

 

Some states are considering sales-tax holidays for ...   more »

View Article  Harteis Biznet Economic News - Exxon Valdez $2.5 billion oil spill ruling overturned

Fred Harteis Economic News - The U.S. Supreme Court on Wednesday threw out the record $2.5 billion in punitive damages that Exxon Mobil Corp had been ordered to pay for the 1989 Exxon Valdez oil spill off Alaska, the nation's worst tanker spill.

 

By a 5-3 vote, the high court ruled that the punitive damages award should be slashed -- limited by the circumstances of the case to an amount equal to the total relevant compensatory damages of $507.5 million.

 

The justices overturned a ruling by a U.S. ...   more »

View Article  Harteis Biznet News Articles -United Airlines to lay off 950 pilots

Fred Harteis News Articles -  UAL Corp, parent of United Airlines, said on Monday it plans to lay off 950 pilots as it prepares to cut domestic capacity to offset soaring fuel prices.

 

"As we reduce the size of our fleet and take actions companywide to enable United to compete in an environment of record fuel prices, we must take the difficult but necessary step to reduce the number of people we have to run our business," the No. 2 U.S. carrier said in a statement.

 

The ...   more »

View Article  Harteis Biznet News Articles - Households Forced to Budget Money

Fred Harteis News Articles  - After years of living large, U.S. households are finally learning what financial experts thought they never would: to live within their means.

 

Economists have long warned that the U.S. consumer was on an unsustainable spending frenzy and that savings rates were dangerously low. Now, families are being forced into financial responsibility by the housing downturn and a weakening economy.

 

"For many years people on Wall Street have refused to believe that American consumers could ever change their spending habits," said David Rosenberg, ...   more »

View Article  Harteis Biznet News Articles- Economy limping along, leading indicators show

Fred Harteis News Article - economy, hobbled by higher fuel and food prices, tighter credit and a depressed housing market, is limping along at a snail's pace, a private business group said Thursday.

 

Separately, the number of newly laid-off workers filing for unemployment benefits remained at worrisomely high levels, even as it dropped slightly last week.

 

The New York-based Conference Board said Thursday its economic indicators rose 0.1 percent in May, matching expectations of economists surveyed by Thomson/IFR. The increase in the indicators, a measure of future economic ...   more »

View Article  Harteis Biznet Economic News -AIG's new chief reaches out to former CEO Greenberg

Fred Harteis Economic News - American International Group Inc Chairman Robert Willumstad said one of the first things he did after being named chief executive was to reach out to former CEO Maurice  Greenberg, a large AIG shareholder who has had an acrimonious relationship with the insurer since leaving three years ago.

 

The move was the first of many steps that Willumstad has vowed to take after being installed as chief executive late on Sunday, as he faces the daunting task of returning the 89-year-old insurer to profitability ...   more »

View Article  Fred Harteis News Articles - Jobs with Satisfying Pay

Fred Harteis News Articles - If the average person works 40 hours a week and 50 weeks per year, that's 2,000 hours per year. At $50 per hour, you'd be making $100,000 before taxes. Here are some of the most searched jobs in that salary range.

 

 Captain/Pilot in Command (Large Jet)

Median Salary: $50.91

Job Description: Ensures that trip of assigned flight (aircraft larger than 12,500 pounds at takeoff) is conducted in the safest manner possible. Determines flight routes, speed and takeoff and landing times to fulfill scheduling ...   more »

View Article  Fred Harteis News Articles - How to battle credit card fees

Fred Harteis News Articles - Congress is holding hearings on legislation that aims to reform credit card industry abuses. While consumers may not see protections anytime soon, here are some top tips on how you can fight back now against credit card fees.

 

Watch your interest rate

Credit card companies reserve the right to change your interest rate at any time and for any reason.

 

If you make a late payment or go over your limit, your credit card interest rate could skyrocket to over 32%. And despite ...   more »

View Article  Harteis Biznet Economic News- U.S. raises oil price forecast 12 pct on tight supply

Fred Harteis Economic News -  The U.S. government's top energy forecaster on Tuesday raised its projections for 2008 oil prices by nearly 12 percent as oil supplies from key projects in Russia, Norway, Mexico and Brazil failed to relieve tight supplies despite a slowdown in demand growth.

In its monthly oil market report, the U.S Energy Information Administration -- the statistical arm of the Energy Department -- said benchmark West Texas Intermediate oil prices would average $122.15 a barrel, up from its previous forecast of $109.53 a barrel.

 ...   more »

View Article  Fred Harteis News Article - OPEC sees no need to pump more after price surge

Fred Harteis News Article -  OPEC members saw no need on Sunday to pump more oil in response to last week's double-digit surge in oil prices to over $139 a barrel that top exporter Saudi Arabia described as unjustified.

 

More pain was coming for consuming economies hurting from record fuel costs as prices were likely to climb further, officials from the Organization of the Petroleum Exporting Countries (OPEC) said.

 

Oil soared more than $16 a barrel - over 13 percent - in a two-day rally on Thursday ...   more »

View Article  Fred Harteis News Articles -8 "Hidden"Taxes You're Paying Every Day

Fred Harteis News Articles - Consumers pay hundreds of billions of dollars in "hidden" taxes each year. It's estimated that our federal income tax represents less than HALF of the taxes we pay each year.

 

No. 1: Gasoline Tax

You probably already knew that such a tax existed, but you probably didn't realize how steep a tax it actually is. Next time you fork over big bucks at the pump, remember that you are paying nearly 46 cents per gallon in federal, state and local taxes. That's nearly 15% ...   more »

View Article  Fred Harteis Economic News- Verizon Wireless to buy Alltel in $28.1 billion deal

Fred Harteis Economic News -  Verizon Wireless said on Thursday it would buy rural mobile phone service provider Alltel Corp for $28.1 billion including debt, which would vault it to first place in the U.S. market ahead of AT&T Inc.

 

Under the deal, Verizon Wireless would acquire the equity of Alltel for $5.9 billion and take on an estimated $22.2 billion in debt, incurred when Alltel was taken private in November in a leveraged buyout by TPG Capital and Goldman Sachs Group Inc's GS Capital Partners.

 

Shares ...   more »