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Federal Reserve details new round of stress tests - Nov. 16, 2012 - 0 views

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shared by bparksj28 on 16 Nov 12 - No Cached
  • The Federal Reserve, preparing to embark on its latest round of so-called stress tests, released the details Friday of three economic scenarios it will use to judge the health of the U.S.'s largest lenders.
  • 5% decline in gross domestic product, an unemployment rate of 12% and a volatile stock market which loses half its value.
  • The stress tests are mandated by Dodd-Frank, the financial reform law written in the wake of the 2008 financial crisis that brought down Bear Stearns and Lehman Brothers.
  • ...2 more annotations...
  • Last year, the Fed's tests showed a majority of the nation's largest banks would be able to weather another deep recession.
  • Ally Financial, Citigroup (C, Fortune 500) and SunTrust (STI, Fortune 500) -- would likely need new capital from either investors or the government in the Fed's adverse economic scenario
  • bparksj28 on 16 Nov 12
     
    Dodd-Frank Act - stress test 2012
bparksj28

Factory fire raises safety questions for big box stores like Wal-Mart, Sears - Nov. 30,... - 0 views

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shared by bparksj28 on 30 Nov 12 - No Cached
  • Ten people were injured after jumping from windows to escape the inferno at the 10-story building. Eye witnesses say that managers had locked the windows and gates to the buildings, which had no fire escapes, effectively trapping the workers in.
  • A total of 112 people were killed and at least 200 more were injured in a fire Saturday at the Tazreen Fashions Factory, located near Bangladesh's capital city Dhaka. Two days later, another apparel factory near Dhaka caught fire.
  • Photos of items sold at Wal-Mart
  • ...9 more annotations...
  • taken in the Tazreen Fashions factory surfaced in the days following the fire. The retailer responded by saying that the factory was no longer authorized to produce merchandise for it.
  • "A supplier subcontracted work to this factory without authorization and in direct violation of our policies. Today, we have terminated the relationship with that supplier," Wal-Mart said.
  • Workers rights experts, however, claim that it's unlikely that retailers wouldn't know where their stuff is produced, as a matter of cost and production control.
  • "In order to be profitable, you have to control the supply chain, monitor quality, prices and the speed of delivery,
  • "It's strange that a company would say they had no idea who was making stuff for them."
  • The audits, completed by what it calls accredited or internationally recognized auditing firms, are carried out every six to 24 months. But the reports are not published online. Nor are they shown to factory workers, according to Nova. "There's no transparency. They never publish their findings as to whether or not there's a violation, so there's not much scrutiny about the audits," he said.
  • n order to keep production prices low, Nova said that companies rely on cheap labor, which often goes hand-in-hand with low wages, poor working conditions and safety concerns.
  • "It is such a poor country and so desperate for jobs that they ignore the most minimal labor rights standard," he said. "It's as if everything has to give way just to maintain these garment jobs. There's a fear that the labels will flee and go to another country.
  • Bangladesh's ready-made garments make up 80% of the country's $24 billion in annual exports, and the country has about 4,500 garment factories that make clothes for large global stores including
  • bparksj28 on 30 Nov 12
     
    Bangladesh Factory Fire
bparksj28

Corporate profits hit record as wages get squeezed - Dec. 3, 2012 - 0 views

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profits hit record wages dec

shared by bparksj28 on 03 Dec 12 - No Cached
  • bparksj28 on 03 Dec 12
     
    Profits and Wages
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China moves to curb rising income inequality - Feb. 5, 2013 - 0 views

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china moves rising income inequality

shared by bparksj28 on 06 Feb 13 - No Cached
  • bparksj28 on 06 Feb 13
     
    Chinese Inequality Measures
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Newsweek to end publication of its print edition - Oct. 18, 2012 - 0 views

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business fortune newseek newspaper

shared by bparksj28 on 18 Oct 12 - No Cached
  • "Exiting print is an extremely difficult moment for all of us who love the romance of print and the unique weekly camaraderie of those hectic hours before the close on Friday night," she said in the statement. "But as we head for the 80th anniversary of Newsweek next year, we must sustain the journalism that gives the magazine its purpose—and embrace the all-digital future
  • But Brown said reaching readers in the future increasingly depends on the digital version, citing a Pew Research Center survey that said 39% of Americans get their news from an online source. There are forecast to be 70 million computer tablet users by the end of the year, she said, up from 13 million just two years ago.
  • $7.3 million operating loss
bparksj28

The case for outsourcing jobs - Sep. 14, 2012 - 0 views

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economist fortune unemployment

shared by bparksj28 on 14 Sep 12 - No Cached
  • bparksj28 on 14 Sep 12
     
    outsourcing
bparksj28

Who Isn't Being Left Behind During the Economic Recovery? | TIME.com - 0 views

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Economic Recovery Left Behind time magazine

shared by bparksj28 on 26 Jul 13 - No Cached
  • bparksj28 on 26 Jul 13
     
    Economc  Recovery - good homework assignment for student to read during economic growth chapter
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