Perhaps the biggest unknown is how many employees will lose company-sponsored insurance. A McKinsey survey of employers found that 30 percent would stop offering insurance and pay the $2,000-per-worker penalty.
Consultants at Deloitte expected 9 percent of companies to drop coverage, while Mercer’s estimate was 21 percent. The Congressional Budget Office, which provided the official projection of the law’s cost, was much lower. If there’s an exodus from employer health plans [...]
AP Twitter account hacked; report of White House explosions false
LONDON — Hackers today compromised the main Twitter account of The Associated Press and sent out an erroneous tweet about an attack at the White House.
The tweet, which said that there had been two explosions at the White House and President Barack Obama was injured, came after hackers made repeated attempts to steal the passwords of AP journalists.
HACKED AP TWITTER [...]
It seems between photos of the family Zuckerberg brunching Christmas Day and the revolt against the rules change, Instagram has been slapped with an exodus of users. As NY Post reports,Instagram, which peaked at 16.4mm users the week it rolled out the policy change, had fallen to 12.4mm users as of yesterday – a massive 25% plunge. The terms of service change which enabled the selling of user’s photos ‘without any [...]
A vote last month that makes Californians among the highest-taxed residents in the country is sparking debate about whether the Democrat-back initiative will backfire, by forcing high-earners to join a long exodus from the cash-strapped state.
Democratic Gov. Jerry Brown successfully pushed the tax increase by suggesting that high-earners must shoulder the largest burden in bailing out the state, particularly its debt-ridden public school system.
However, high unemployment and government debt have [...]
A report says large amounts of gold are being flown out of Afghanistan with “increasing regularity.”
According to a report published by the New York Times on Saturday, “roughly hewed bars of gold” that are mostly “carried by single couriers” are being flown out of the Afghan capital, Kabul, to Dubai in the United Arab Emirates.
The gold bars are “packed into hand luggage and tucked into jacket pockets,” the report said, [...]
Another “Flash Crash” in the financial markets could happen at any moment because of high frequency trading, warns former hedge fund analyst David Lauer. These disasters are causing retail investors to flee the equities market – $283B already since the Flash Crash in May 2010 – and their flight during a period of incredible stock market returns is a sure sign this exodus is a result of mistrust rather than [...]
In case you didn’t get the memo, “equities have reached a dead end in terms of significant appreciation,” says PIMCO’s Bill Gross.
In other words, they’re dead. So go ahead and give up on investing in stocks. Seriously, what are you waiting for?
Don’t you know that all other investors bailed already, as evidenced by August’s anemic trading volumes and this year’s near-record inflows into bonds? And that even institutions are joining [...]
There was a time when retail stock outflows were considered a bullish catalyst: after all, retail was always considered the dumb money (not “two and twenty” hedge funds which continue to underperform the stock market, and have done so for the past five years), and would pull money at the bottom and add money at the top. This is no longer the case for the simple reason that while persistent [...]
Workers pack up the set from the blockbuster Olympic Games closing ceremony
Olympic Park site looks alien without droves of spectators making their way to events
Barely 12 hours after the last firework popped over the Olympic Park last night, the centrepiece venue of the Games looked like a ghost town.
There wasn’t a spectator in sight today at the Olympic Park stadium in Stratford, as athletes, visitors and VIPs began their exodus [...]
A “dying” Spanish town suffering from massive unemployment is trying to stem the tide of economic decay the only way they can: by farming pot. Are the desperate measures being taken in Spain a sign of things to come as Europe’s economic crisis deepens?
Nestled in the foothills of the Serra De Cardo in Catalonia, Rasquera looks like an ideal place to live. But swept up in the wave of mass [...]
Moody’s has slashed the ratings of fifteen of the biggest banks in Europe and the U.S. in the latest slap in the face to the ailing financial sector. Those hit include Goldman Sachs, Morgan Stanley, Royal Bank of Scotland and Deutsche Bank – financial powerhouses domestically and internationally. The move could make it more expensive for the banks to attract funds. It’s also feared the downgrades could trigger fresh market [...]
(CNSNews.com) – New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, according to the Tax Foundation.
Over that decade the state gained 2.1 million, so net migration amounted to 1.3 million, representing a loss of $45.6 billion in income.
Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents [...]
The Economist is at it again, this time poking fun at the deposit exodus from Greek banks.
May 11, 2012
Much of the eugenics/global control plan laid out in a digestible music format.
Wise Intelligent has had the most success as a solo artist, releasing solo albums Killin’ U… For Fun in 1996 and The Talented Timothy Taylor in 2007. The group didn’t return until 2001, when they dropped the rare underground release Declaration of Independence.
In 2006, Cha-Ching Records released Rare & Unreleased, a compilation of rare Poor [...]
“The last thing I remember her saying was ‘I just want to love and be loved. I want to love like Jesus did. Unconditionally,’” Tiffanie Dixon, Whitney Houston’s hairdresser, tells contributing editor Mark Seal in June’s Vanity Fair of the last night she spent with the singer. Dixon was with Houston and her alleged boyfriend Ray J (the singer-actor famous for, among other things, being Kim Kardashian’s partner in a 2007 sex [...]
Exodus: California Tax Revenue Plunges by 22%
State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., ‘I have found it’. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline [...]
CHIOS, Greece — Nikos Gavalas and Alexandra Tricha, both 31 and trained as agriculturalists, were frustrated working on poorly paying, short-term contracts in Athens, where jobs are scarce and the cost of living is high. So last year, they decided to start a new project: growing edible snails for export.
As Greece’s blighted economy plunges further into the abyss, the couple are joining with an exodus of Greeks who are fleeing [...]
Online video and DVD rental company Netflix began gaining U.S. subscribers again in the fourth quarter of last year after a sudden price hike sparked an exodus in the third quarter, Chief Executive Reed Hastings said on Monday.
“What we said a quarter ago was that it was going to turn up in the back half of Q4 and everything’s been consistent with that,” Hastings told Reuters in an interview [...]
There is no possibility of a non collapse.
There is no possibility of a non credit event.
There is no possibility of CDS not being triggered.
This is what is happening:
As long as no haircut % is announced….and no agreement is made with the bank lobby…..the credit event is suspended…..until the market forces it.
It does not matter if it is a full on disorderly default from Greece…or an organized haircut….it is credit event…it [...]
Exodus eyed early in nuke crisis
Tokyo faced evacuation scenario: Kan
In the days immediately after the crisis began at the Fukushima No. 1 nuclear power plant, the government received a report saying 30 million residents in the Tokyo metropolitan area would have to be evacuated in a worst-case scenario, former Prime Minister Naoto Kan revealed in a recent interview.
Kan said he contemplated the chaos that would [...]
WHEELING AWAY: Jim Lawrence, 40, of the District, takes the last bicycle from the Capital Bikeshare stand near the Eastern Market Metro station in Southeast on Tuesday. The Bikeshare program offers an alternative way of getting around urban streets. (Pratik Shah/The Washington Times)
As downtown is consumed by the evening rush, 13 bicycles stand shiny and red, awaiting riders that will careen from the downtown offices of L [...]
Newt’s mad as hell and he’s not going to take it anymore.
After enduring a week of unflattering news reports blaming him and his wife for the mass staff exodus from his presidential campaign, Gingrich is fighting back.
He’s gone on the attack, largely against the unnamed staffers and consultants who jumped ship and fueled press accounts of a campaign in disarray and a candidate whose [...]
In Preparation Of The Fed’s Last Doubling Down: David Rosenberg Believes QE3 Will Be Nothing Short Of “Operation Twist 2″
It is no secret that to a deflationist like David Rosenberg bond yields have to go lower… Much lower. With the 10 Year flirting with a 2 handle one would think he would be content. Alas no. In fact, as he suggests in his piece from today, [...]
Joel Cairo for News
They may have come to the city to get a law degree, but a hefty percentage of young New Yorkers plans to flee the city in the next five years.
ALBANY – Escape from New York is not just a movie – it’s also a state of mind.
A new Marist College poll shows that 36% of New Yorkers under the age of 30 are planning to [...]
ST. LOUIS (AP)Â - St. Louis is losing residents, according to U.S. Census figures released Thursday, and the population decline goes deeper than being another blow to the proud cityâ€™s image.
The drop will mean a financial loss that could cost the already cash-strapped Gateway City millions of dollars.
Figures from the 2010 census were a bitter disappointment, as the cityâ€™s population dipped to 319,294.
Thatâ€™s down more than 29,000Â â€“ a staggering [...]
According to the ECB, in December Irish banks lost deposits worth â‚¬40.3 billion, over 50% more than November, when â‚¬26.7 billion evacuated the banking system. The brings the total deposit flight from Ireland’s 15 retail banks to a massive â‚¬110 billion, a number which if indexed to the US, would be well in the trillions. And as the Independent points out, “The most dramatic element [...]
by Turd Ferguson
CME Group Announces Money and Margin Requirement IncreasesPosted: Nov 09 2010Â Â Â Â Â By: Dan Norcini Post Edited: November 9, 2010 at 7:37 pm
Filed under:Â Trader Dan Norcini
CME Group today announced a hike in the amount of money or margin needed to control a full-sized (5,000 ounces) silver contract. Margin for silver jumped to $6,500 from $5,000 or 30%.
Several things to know about this:
First, it is quite common to [...]