*sorry, had to go to a training on foreclosure this am. Apparently, NJ residents are in desperate need of pro bono legal work in dealing with the cascade of foreclosures that continue to rip through the housing market. Go figure eh???
from Bloomberg
House has votes to pass resolution that will tax any AIG bonus' for any employee making over $250,000 a 90% excise tax.
*for those of you out there who think this is unconstitutional, guess again. And looks like this applies to any company receiving more than 100m in taxpayer bailout.
*even Wal-Mart has a heart..
Wal-Mart Hourly Workers to Get $2 Billion in Bonuses
By Chris Burritt
March 19 (Bloomberg) -- Wal-Mart Stores Inc., the world’s largest retailer, plans to award $2 billion this year to about 1 million U.S. hourly workers in bonuses, profit sharing, discounts and 401(k) and stock-plan contributions after sales jumped in the recession. more..
*yeah right
GE sees its finance unit profitable in 2009
By Scott Malone
NEW YORK (Reuters) - General Electric Co expects GE Capital to be profitable this year, though if the U.S. economy deteriorates more than the Federal Reserve currently estimates, the finance unit could post break-even results, company executives said on Thursday. Stress-testing based on the Fed's baseline scenario for the economy shows that the unit's profit could be $2 billion to $2.5 billion this year, GE Capital's Chief Executive Michael Neal said. more..
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