Goldman Sachs is the latest big bank to top Wall Street estimates, earning a profit of $5.25 a share. CEO Lloyd Blankfein says "although the world continues to face serious economic challenges, we are seeing improving conditions and evidence of stabilization, even growth, across a number of sectors." Details to come.
Dow 10,000 has arrived, so pop out the champagne, but be wary. Breaking the key psychological level of Dow 10,000 is one thing. Holding onto those gains is quite another.
The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall as rising unemployment causes more homeowners to fall behind on their mortgages. RealtyTrac spokesman Rick Sharga says it was the "worst three months of all time."
If there's any silver lining to a recession -- albeit a thin one -- it' s that consumer prices typically go down. Make no mistake, deflation is a sign of a sick economy, but at least the net effect of cheaper prices for the basic necessities -- food, clothing and shelter -- helps folks get by when they are struggling to make ends meet. But consumers should brace themselves for things to change, especially at the supermarket.
The Social Security Administration has some tough news for seniors. In 2010, there will be no cost of living increase for Social Security recipients, the first year without one since automatic adjustments were adopted in 1975.
Did Bernard Madoff just wake up one day and decide to steal $50 billion from his investors? Probably not. Other figures in the growing pantheon of white-collar criminals most likely didn't decide to start their evil schemes overnight, either. No, the path from good to bad likely involved progressive steps -- 12 to be exact, if you believe new research published in the International Journal of Business Governance and Ethics.
Bette Midler, a famous eco-warrior who helped establish green jobs in New York with the help of $2 million in stimulus money, discusses how funds for her New York Restoration Project were used to create a community garden in the Bronx.
