Loren C. Steffy's Blog, page 55
February 6, 2012
Nabors' Isenberg forfeits $100 million severance
Nabors Industries' ridiculously overpaid chairman has agreed to give up a $100 million severance payment that insulted shareholders last year.
Airlines: the bold and the bankrupt
The lure of market share has long dogged larger carriers, and it continues to dog them still.
February 3, 2012
Taco Bell linked to salmonella outbreak in Texas, other states
The mystery restaurant chain behind a salmonella outbreak last year that sickened 68 people in Texas and nine other states has been revealed.
February 2, 2012
Autographs for Drowning in Oil ebook
Want an autographed copy of the Drowning in Oil ebook? Request one now: http://www.kindlegraph.com/authors/ls...
American Airlines restructures on the backs of workers
As expected, American Airlines' bankruptcy is going to be balanced on the backs of employees. The airline is hoping to cut labor costs by 20 percent and eliminate as many as 14,000 jobs,the Associated Press reported. The company also will restructure debt and retire older aircraft, which will help save on fuel costs. There's really [...]
February 1, 2012
eBay sellers, the taxman is coming for you
If you're big seller on eBay or other online sites, you may find the profits from your side business take a hit this year. The Internal Revenue Service is stepping up tax collections from online sellers, Entrepreneur's Carol Tice reports. In an effort to boost tax revenue in a time of mounting federal budget deficits, [...]
January 31, 2012
McDonald's no longer using 'pink slime' in burgers
Call it a slime of the times. McDonald's says it will no longer use "pink slime" — beef trimmings washed in ammonium hydroxide to kill bacteria — as an additive in hamburgers. The term comes from TV chef Jamie Oliver, who has campaigned against the additive's use. In one episode of his show, Food Revolution, [...]
January 30, 2012
Freddie Mac places multibillion-dollar bets against homeowners
The government-owned mortgage giant Freddie Mac placed multibillion-dollar bets that homeowners would stay trapped in expensive mortgages with high interest rates, according to a report by ProPublica and NPR. Freddie was loading up on these trades, known as inverse floaters, even as it was making it more difficult for homeowners to get out of high-interest [...]
Executive crew change continues at Transocean
Another financial executive has left Transocean. Robert Shaw, who was named vice president, controller and principal accounting officer in December, is leaving "to pursue other opportunities," the company said in a regulatory filing. Shaw only took over the job Dec. 1, landing a salary of $350,000 a year, plus annual bonus and long-term incentives, the [...]
BP's number-fudging tactics revealed
The release of an internal memo shows BP knew the Macondo blowout was much bigger than it let on in the early days of the disaster.
