Monday, September 27, 2004

TODAY'S HEADLINERS (Mon. 9/27)

Looks like mortgage powerhouse Fannie Mae is being greedy. The New York Times reports that the government owned-and-operated "business" has been behaving rather shady as of late: "(Fannie Mae) agreed yesterday to major changes in its accounting and management practices in an unusual deal reached after a week of negotiations with the company's federal regulator. The agreement comes after a scathing report released by the regulator last week that accused Fannie Mae of accounting irregularities and earnings manipulation that helped enrich the company's senior executives and presented an apparently false portrait of its financial well-being to the public." I thought that was something profit-motivated business do, not a government entity focused solely on the well-being of the public. "Should further irregularities surface at Fannie Mae, the ramifications could be significant, not only for the company itself, but for the entire mortgage market, which has long depended on Fannie Mae's financial muscle and presence to make widespread home ownership one of the cornerstones of American life." If only every industry had a Fannie Mae.

In Dover, Delaware, an advisory panel has approved a payout of $14 million to keep a local business and its jobs in town, according to the Wilmington News-Journal. "The Council on Development Finance said today that the 350 jobs at Invista’s headquarters should be required to stay in Delaware for eight years, instead of the six originally proposed, in order for the company to receive an $8.75 million grant. The council also added that the company must keep employment levels constant at its Seaford plant to receive $400,000 in training for plant employees." That's brilliant. Use the tax dollars you took from the economy in the first place in order to give it a boost.

Residents in Kimmswick, Missouri (just south of St. Louis) are not very cozy with a rich businessman who wants to become a resident. According to the St. Louis Post-Dispatch: "Aldermen have delayed voting on a plan to annex 15 properties, including Francis' (the rich guy) estate, which is north of Kimmswick in Imperial, an unincorporated area in northern Jefferson County. According to some residents, there are those in Kimmswick who don't cotton to one of the landowners: a 40-year-old entrepreneur and professional speedboat racer who is quickly becoming Kimmswick's biggest booster, developer and employer." They're afraid he wants to become mayor. They like jobs, just not the businessmen who bring them. Makes plenty of sense. "But 'Mayor' Francis isn't the only thing his critics fear. Until recently, Kimmswick was a place of strict but unwritten rules: No business is open on Monday, and none is open past 4 p.m. Daytime might belong to antique-hunters from St. Louis and the lunching ladies of the Red Hat Society, but in the evening the town is a private place. Streets are empty, except for children on bicycles and neighbors gabbing over picket fences. Now, some of Francis' businesses stay open past 4 p.m." Mercy, that's bad. Next thing you know, businesses will be allowed to come in work a whole 40 hours a week, putting the locals out of business.

7 Comments:

At August 10, 2005 at 9:26 AM, Blogger msuq63rigi said...

Feeling lonely? Hook up with Real Singles now for $4.99 to connect, and only $0.99 a min. A true match is only a phone call away. Give it a try 1-800-211-9293.

 
At December 31, 2005 at 7:04 PM, Blogger chrisgonzo4662 said...

I read over your blog, and i found it inquisitive, you may find My Blog interesting. My blog is just about my day to day life, as a park ranger. So please Click Here To Read My Blog

 
At January 22, 2006 at 11:02 AM, Blogger davidfrie6032 said...

I read over your blog, and i found it inquisitive, you may find My Blog interesting. So please Click Here To Read My Blog

http://pennystockinvestment.blogspot.com

 
At May 6, 2006 at 11:26 AM, Blogger lw5h41syif said...

Get any Desired College Degree, In less then 2 weeks.

Call this number now 24 hours a day 7 days a week (413) 208-3069

Get these Degrees NOW!!!

"BA", "BSc", "MA", "MSc", "MBA", "PHD",

Get everything within 2 weeks.
100% verifiable, this is a real deal

Act now you owe it to your future.

(413) 208-3069 call now 24 hours a day, 7 days a week.

 
At October 2, 2006 at 4:51 AM, Blogger lqgs1kwvp82pdkg said...

hey, I just got a free $500.00 Gift Card. you can redeem yours at Abercrombie & Fitch All you have to do to get yours is Click Here to get a $500 free gift card for your backtoschool wardrobe

 
At October 2, 2006 at 5:39 PM, Blogger otre6qqll65zxym said...

hey, I just got a free $500.00 Gift Card. you can redeem yours at Abercrombie & Fitch All you have to do to get yours is Click Here to get a $500 free gift card for your backtoschool wardrobe

 
At October 9, 2006 at 5:49 AM, Blogger z2zohn48 said...

hey, I just got a free $500.00 Gift Card. you can redeem yours at Abercrombie & Fitch All you have to do to get yours is Click Here to get a $500 free gift card for your backtoschool wardrobe

 

Post a Comment

<< Home