Archive for September, 2010
Wal-Mart Appeals to Supreme Court over Sex Discrimination Suit (NYSE: WMT)
Wal-Mart Stores Inc. (NYSE: WMT) asked the Supreme Court to overturn a ruling which allowed a class-action lawsuit alleging that the company had discriminated against female employees. The 9th U.S. Circuit Court of Appeals, located in San Francisco, upheld certain portions of a class-certification order in the lawsuit, Dukes vs. Wal-Mart Stores Inc., back in [...]
Homeowners Sue Bank of America (NYSE: BAC) over HAMP modification
Bank of America Corp (NYSE: BAC) has been sued by homeowners Anthony and April Soper who had applied through a mortgage modification through the Home Affordable Modification Program, but failed to receive a permanent modification. According to the suit, Bank of America placed them into a HAMP trial payment plan in December which cut their [...]
Washington Mutual Bankruptcy Settlement Suit Continues (NYSE: JPM)
A bankruptcy examiner won a federal judge’s approval to take more time to investigating the bank failure of Washington Mutual, which was purchased by JPMorgan Chase & Co. (NYSE: JPM), after saying that he needs more time to interview witnesses and to collect documents from federal regulators. Examiner Joshua Hochberg asked to keep parts of [...]
Apple Ends Free iPhone 4 Case Giveaway as Antenna Issue Fades (NASDAQ: AAPL)
Apple (NASDAQ: AAPL) confirmed that it would be ending its free case give away to iPhone users, which the company began in July after complaints surfaced about low signal quality because of the phone’s antenna design. The Cupertino-based company also said that iPhones purchased after September 30th would be subject to its normal return policy, [...]
Citigroup Files for Dismissal on Terra Firma Suit (NYSE: C)
Citigroup, Inc (NYSE: C) has asked a federal judge to throw out a lawsuit relating to the purchase of EMI Group by Terra Firma Capital Partners, who accused Citigroup of tricking the firm into overpaying for the music company in 2007. Terra Firma said that it was misled by New York-based Citigroup, Inc (NYSE: C) [...]
Former Executive Accuses G.E. Capital Services of Cooking the Books, Files Suit (NYSE: GE)
General Electric Co. (NYSE: GE)’s Capital Service unit has been sued by a former executive who claims he was forced out of the company for questioning the company’s accounting practices of a certain asset which he believed was over-valued on G.E.’s books. The executive, Edward Gormbley, worked for General Electric from 2000 until September 2009 [...]
Overdraft Protection and Payday Loans
Over the past few years, it has been debated whether it is better to have overdraft protection on a personal debit or credit card or if it is better to take out a payday loan to cover end of the month expenses if the unexpected happens and the person runs out of money before that [...]
Chuck Prince and Robert Rubin Knew About Citigroup Subprime Exposure, SEC Says (NYSE: C)
When the U.S. Securities and Exchange Commission settled with Citigroup, Inc (NYSE: C) over charges that the bank misled its shareholders, only then-CFO Gary Crittenden and investor relations-head Arthur Tildesley were charged, but a filing from the bank suggests a myriad of other executives, including Charles “Chuck” Prince and Robert Rubin were aware of the [...]
Bank of America Stock Price to Increase by 30% in Next Year, Bove Says
Rochdale Securities vice president of equities research Richard Bove told Forbes magazine in an interview that he believed Bank of America Corp (NYSE: BAC)’s stock price would increase to $19.00 sometime next year, an increase of more than 30%. “Right now you can buy Bank of America for I’m going to say a nickel on [...]
Large Banks Moving Away from Blackberry to Google and Apple for Mobile Email (NADSAQ: GOOG) (NASDAQ: RIMM) (NASDAQ: AAPL)
JPMorgan Chase & Co. (NYSE: JPM) and several other banks considering whether or not to allow their employees to make use of smartphones for use in work email, including the Apple (NASDAQ: AAPL) iPhone and Google (NADASQ: GOOG) Android-based devices, according to a report from Bloomberg News citing people familiar with the matter. The report [...]
Wells Fargo & Co. (NYSE: WFC) May Receive Credit Rating Boost from Moody’s
Wells Fargo & Co. (NYSE: WFC) was able to maintain profitability throughout most of the recession and may receive a ratings boost from Moody’s Investor Service as a result. The agency said on Thursday that the San Francisco-based Wells Fargo’s “unsupported ratings”, or those guaranteed by its holding company, are under review for potential upgrades. [...]
Basel Committee Report May Be Much Needed Good News for Bank of America (NYSE: BAC) and J.P. Morgan Chase (NYSE: JPM)
Despite seeing their stocks trading near 52-week lows amid questions regarding future loan losses and profitability, there may be good news coming for Bank of America (BAC) and J.P. Morgan Chase (JPM). On Sunday, regulators from the Basel Committee on Banking Supervision will release guidelines that will spell out the size and type of capital [...]
JPMorgan Chase & Co. (NYSE: JPM) Hires Bank of America Corp (NYSE: BAC) Attorney
JPMorgan Chase & Co. (NYSE: JPM) has hired away Bank of America Corp (NYSE: BAC) Deputy General Counsel Gregory Baer to manage JPMorgan’s global regulation and corporate legal matters. The announcement was made by JPMorgan General Counsel Stephen Cutler in an internal company memo yesterday, which was obtained by Bloomberg Businessweek. Baer, age 48, will [...]
Audible.com Review: What You Need to Know About Audible
If you’re a commuter, a traveler, or get bored at the gym, you might want to consider listening to audio books as a way to keep your self-entertained or expand your horizons. You can now get just about any book that you might want in an audio format and there’s a really easy way to [...]
Visa (NYSE: V) Loses Favor from Investors, Analysts at Bank of America (NYSE: BAC) and Citigroup (NYSE: C)
Visa (NYSE: V) is now trading near its 52-week low after being the largest decliner on the S&P 500 during trading on Wednesday after analysts issued concerns about the revenue of U.S. credit card companies. Bank of America Corp (NYSE: BAC)’s Merrill Lynch division equities research analysts reduced their recommendation on Visa (NYSE: V) from [...]
worst video player ever- after over2:00 there's still no video appearing 