FARK.com: Business links -- Archives for 2009-07-05

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Sun July 05, 2009

Source	Fark Headline		Comments
		Gerry Pasciucco's mission: Unwind AIG's portfolio of 44,000 long-dated derivatives with a notional value of $2 trillion, close the unit, then fire everyone and resign. His next trick will be to invent a perpetual motion machine (bloomberg.com)	(22)
(Some Guy)		Since Bernie Madoff was sent to PMITA prision for a few lifetimes, one burning question remains: Just WTF is a Ponzi scheme and how does it work anyhow? (gantdaily.com)	(65)
(CFO.com)		Two accounting standards enter (FASB vs. IASB) one accounting standard leaves. Welcome to another edition of Accountancy Thunderdome (cfo.com)	(37)
		Facebook's algorithms have developed HAL-like sentience, use it to identify which other users it will hurt you most to be reminded of and torment you, refuse to open pod bay doors (msnbc.msn.com)	(42)

Sat July 04, 2009

		Old and Busted: Shows telling people how to make mad money flipping houses. The New Hotness: Shows telling sellers they have to slash prices to move their overleveraged pile of crap (sfgate.com)	(58)
		Hot, blond 32-year-old is managing director of her own server hosting firm, named one of the Top 35 Women Under 35 by management magazine. And she was born with a penis. Wait, what? (telegraph.co.uk)	(224)
		Not news: Clothing retailer sends out checks for $8.75 for customers to use as they like. News: Cashing the checks enrolls you in a marketing plan that costs $159 a year. Fark: It's all completely legal (mcall.com)	(42)
		Ben Bernanke: Asians are responsible for the global economic crisis because they save too much, act too responsibly. Fark: Krugman agrees (online.wsj.com)	(63)
		Starting in August, the Ford Taurus will be back on the showroom floor. Starting in September, it will be back in the shop after a massive safety recall (qctimes.com)	(45)
		For financially-beleagured Los Angeles, Michael Jackson's death couldn't have come at a better time (timesonline.co.uk)	(27)
		If there was ever a time to actually read a Playboy article, this is it (playboy.com)	(78)
		Glut of oil could push gas prices below $2 per gallon, so expect to see gas prices soar (latimes.com)	(48)
		Traditional bars and cafes in France closing left and right, mostly due to citizens' preference for fast-food sandwiches at lunch instead of traditional dishes accompanied by wine, espresso and cognac. Thanks, America (washingtonpost.com)	(40)

Fri July 03, 2009

(Insurance News Net)	Economy now so bad that 9.5% of retirees want to go back to work (insurancenewsnet.com)	(28)
	We're going to have a trade war with China. Watch out for Lo Pan shooting rays out of his eyes and that henchman who fires lightning bolts (forbes.com)	(64)
	World's first no-star hotel, with no windows, no heating, no TV, and where guests share rooms with up to six other people, forced to cut prices due to falling demand. Who could have seen that coming? (telegraph.co.uk)	(37)
	Recent spike in oil prices can be traced to one dumbass (ft.com)	(35)
	Bank closures are normally announced on Friday. So far this year, no more than five banks have been closed on any day. This Thursday, seven banks were closed (reuters.com)	(23)

Thu July 02, 2009

	"Top 10 Ironic Ads From History", including such classics as Bayer Heroin and Dutch Boy lead paint (consumerist.com)	(94)
	Congress passes law limiting credit card interest rate hikes. So, not being as stupid as Congress thinks they are, credit card companies increase rates months before the law kicks in. Thanks, Congress (washingtonpost.com)	(160)
	Increasingly desperate Ford now offering people $100 just to test drive one of its crapmobiles (nationalpost.com)	(51)
(Some Guy)	The evil Rupert Murdoch claims he's not interested in buying The New York Times, but we know better than than, don't we? (poynter.org)	(59)
	The guy at the SEC who was in charge of regulating Madoff was married to Madoff's niece (news.yahoo.com)	(30)
	Biggest corporate blunders so far this year, until AIG starts that land war in Asia they've been talking about (finance.yahoo.com)	(24)
(NME)	Budweiser's newest ad campaign features a cover of the Beatles' "All Together Now" courtesy of The Hours. That's one heck of a target demographic right there (nme.com)	(11)
	467,000, 9.5, and 700,000. That's the number of jobs lost last month, the new unemployment rate, and the average bonus a Goldman Sachs employee can look forward to for 2009 (businessinsider.com)	(123)
	Wal-Mart endorsed universal health care to get the unions off its back and further crush competitors (online.wsj.com)	(29)
(Washington Examiner)	Those taxpayer dollars loaned to banks by TARP are actually making a profit. Which Barney Frank wants to spend like he's antiquing in Provincetown (washingtonexaminer.com)	(222)
	Obama expands assistance to poor decision makers (usatoday.com)	(86)
	Old and busted: Manhattan real estate is recession proof. New hotness: Manhattan real estate down 25% from last year's prices (nypost.com)	(30)
	Rolling Stone's Matt Taibbi scoops NY Times on how Goldman Sachs "took over Washington by engineering every major market manipulation since the Great Depression" (dealbook.blogs.nytimes.com)	(37)

Wed July 01, 2009

	It puts the lotion on its skin or else it gets the Chapter 11 Bankruptcy filing (fe27.story.media.ac4.yahoo.com)	(12)
	Windows XP doesn't want to go on the cart, thinks it'll go for a walk (tech.slashdot.org)	(104)
(Business Insider)	CNBC host complains "anonymous bloggers" have been mocking him and his show, saying he looks like Beaker from the Muppets. Ends up in a train wreck of a rant that... MEEP, MEEP, MEEP, MEEP, MEEP (businessinsider.com)	(116)
(Some Guy)	GM reports a 38% increase in auto sales in the first half of this year for a total of 814,442. Fark: In China (manufacturing.net)	(21)
	Another day, another $6.1 billion dumped into Freddie Mac (news.yahoo.com)	(43)
	"Let's screw up the entire Internet to save newspapers" (valleywag.gawker.com)	(164)
	GM announces its quarterly profit doubles? Oh, not that GM (msnbc.msn.com)	(10)
	Gresham's Law: bad money drives good money out of the market. In this case, all the way out of the country (thelocal.de)	(13)
	Bernie Madoff victim who apparently still doesn't understand how a ponzi scheme works is mad at the SIPC for not insuring and "ignoring all the interest earned in my IRA account over the last 16 years." (money.cnn.com)	(55)
	Citigroup raises rates on 13 - 15 million credit cards after realizing the middle class has not been entirely ground out of existence (news.yahoo.com)	(100)
	MillerCoors hires new Vice President who used to market water for Pepsi. How is this role different? (stltoday.com)	(19)
	The British pound is farked. Like, proper farked (bloomberg.com)	(66)

Tue June 30, 2009

		Outgoing AIG CEO Edward Liddy says his company has an "excellent chance" of repaying the government, adding, "... and monkeys might fly out of my butt." (bloomberg.com)	(19)
		Oil analysts who predicted $200 oil last year, $25 oil then $100 oil this year now predict $55 per barrel oil. Seriously, people get paid for this? (finance.yahoo.com)	(79)
		If you are one of the 52,000 wealthy Americans with a secret account at UBS, the taxman cometh (bloomberg.com)	(62)
		The North American Municipal Bond Loan Association (NAMBLA) declares their undying love for California's debt (marketwatch.com)	(16)
		Europe is experience deflation, with the Euro having a negative rate of inflation for the first time ever (yglesias.thinkprogress.org)	(131)
		4.5% of Americans say jobs are plentiful. In other news, 4.5% of Americans think sky is red, water is dry (reuters.com)	(108)
		GM: we'd like to split into two companies, one "new" GM and the other the "old" GM. Bondholders, retirees, and shareholders: go eat a big bowl of dicks (foxnews.com)	(41)
		It's electric: GE slides around, gets bailout help. boogie woogie woogie (washingtonpost.com)	(18)
		Michael Jackson tragedy can serve as financial warning for every plastic surgery addicted, child bothering, pop star. So, Gary Glitter pay attention, everyone else, go about your business (chron.com)	(30)
		Those billions in taxpayer dollars the government "invested" in GM? We're as likely to get it back as a Chevy Cobalt is to make it to 100,000 miles (washingtonpost.com)	(531)
		Unemployed newspaper reporters increasingly turning to crack, shoplifting meat and sleeping in ATMs, just like every other liberal arts graduate in the universe (tampabay.com)	(44)
		Deere & Co. avoids unnecessary cull after 800 volunteer to leave on their own (hosted.ap.org)	(17)
		Michael Jackson now being used as an economic indicator. Frozen Jesus juice futures soar on the news (bloomberg.com)	(9)
		Sears ups the stakes with their "if you lose your job" buyer protection program. Will forgive debt, let you keep the appliance (bloomberg.com)	(43)
		Looks like James Bond will save the planet from evil global warming in his next flick (money.cnn.com)	(36)
		3M put some Post-It™ notes on the wall, threw some Scotch Tape™ balls at them, came up with Europe and Asia for the Cover-Up Tape™ (startribune.com)	(7)

Mon June 29, 2009

	Tim Hortons to become a Canadian company. Because apparently it's not (cbc.ca)	(128)
(Naijafeed)	Oil company Shell suspend operations in Nigeria due to Militants blowing up stuff (naijafeed.com)	(27)
	Hinting that perhaps this recession is worse than previously thought, Wall Street Journal tastes and ranks cheap jug wines to help its readers choose wisely (online.wsj.com)	(104)
	Oil jumps above $70 on news that the Mets gave Rivera his only RBI by walking him with the bases loaded (finance.yahoo.com)	(8)
	94% of the health care market in the US is monopolized -- uh, that is: "highly concentrated" (tpmmuckraker.talkingpointsmemo.com)	(185)
	Chinese don't want to buy any more debt with a "Made in U.S." label on it. Despite the fact it contains less lead than Chinese-made debt (newsweek.com)	(67)
	Bernie Madoff sentenced to 150 years of having massive amounts of capital injected into his backdoor hedge fund (foxnews.com)	(167)
(Some Math Guy)	So simple a 15-year old Oxford mathematics PhD candidate could do it. "It" being simply explaining how Lehman Brothers died (plus.maths.org)	(103)