BusinessBen Bernanke's Plan Worked, What Happens After?
Updated: Mar 1st, 2011 9:18 AM
Nearly everything is going according to the plan Federal Reserve Chairman Ben Bernanke hatched six months ago.
During a speech in Jackson Hole, Wyo., on Aug. 27, Bernanke outlined an effort to spur economic growth, prevent prices from falling and push markets higher through the purchase of government bonds. Since then ... Read More
Politics, Business, TechBarack Obama 'friends' Facebook founder Mark Zuckerberg
Posted: Feb 21st, 2011 2:32 AM
US President Barack Obama has met Silicon Valley bosses, including Facebook founder Mark Zuckerberg.
Apple's Steve Jobs and Google chief executive Eric Schmidt were also present at the private get-together in California.
The president had been seeking the views of technology leaders as he works to turn around his country's ... Read More
BusinessWall Street's Big Win
Posted: Feb 16th, 2011 4:08 PM
Wall Street's Big Win
Finance reform won't stop the high-risk gambling that wrecked the economy — and Republicans aren't the only ones to blame
Illustration by Victor Juhasz
Cue the credits: the era of financial thuggery is officially over. Three hellish years of panic, all done and gone – the mass bankruptcies, ... Read More
BusinessTwitter In Takeover Talks - $8 To $10 Billion
Posted: Feb 10th, 2011 8:45 AM
NEW YORK (Reuters) - Executives at microblogging company Twitter Inc. have held "low level" talks with executives at Facebook Inc and Google Inc in recent months, about a possible takeover of Twitter, the Wall Street Journal reported on Wednesday.
The paper said that the talks have so far gone nowhere but an estimated ... Read More
BusinessWall Street Skyrockets To 2 1/2 Year Highs
Posted: Feb 1st, 2011 4:31 PM
NEW YORK — Better than expected earnings reports and a lift in the manufacturing sector sent the stock market to two and half year highs Tuesday.
The Dow Jones industrial average closed above12,000, and the Standard and Poor's 500 stock-index — the benchmark for most U.S. mutual funds — reached 1,300.
Pfizer Inc., ... Read More
BusinessStocks End At Highest Levels In More Than Two Years
Posted: Dec 21st, 2010 7:33 PM
U.S. stocks rose modestly Tuesday but managed to close at their highest levels in more than two years as investors set their sights on 2011.
The Dow Jones industrial average rose 55 points, or 0.5%, led by gains in shares of American Express, Bank of America and JPMorgan Chase. The blue chip index finished at 11,533, its ... Read More
BusinessSprint To Start Phasing Out Nextel Network in 2013
Updated: Dec 7th, 2010 7:46 AM
New York - Sprint Nextel Corp. on Monday said it will start phasing out the Nextel part of its network in 2013, a decision that follows near-constant subscriber losses since Sprint bought Nextel in 2005.
Sprint had said before that it would eventually shut down the aging Nextel network, but hadn't said when. It has about ... Read More
BusinessOperation Broken Trust: Over 500 Charged in $10.4 Billion Investment Fraud Sweep
Updated: Dec 19th, 2010 2:16 AM
Attorney General Eric Holder announced on Monday that federal authorities have charged more than 500 people as a result of what they are calling “Operation Broken Trust,” a nationwide crackdown on investment fraud.
The operation has resulted in criminal charges against 343 people, involving more than $8.3 billion in ... Read More
BusinessCyber Monday Sales Top $1 Billion For First Time
Updated: Dec 5th, 2010 9:56 AM
Americans jumped on deals and promotions offered online on Cyber Monday, spending $1 billion and making it the busiest online shopping day ever, according to new data.
Research firm comScore Inc. says revenue rose 16 percent from a year ago to $1.03 billion on the Monday after Thanksgiving. Since the beginning of November, ... Read More
BusinessNext Debt Crisis ‘May Start in Washington’
Updated: Nov 29th, 2010 11:56 PM
The US needs to take urgent action to cut its debt in order to prevent the next financial crisis, which may start in Washington, Sheila Bair, chair of the Federal Deposits Insurance Corp. (FDIC) wrote in an editorial in the Washington Post.
The federal debt has doubled over the past seven years, to almost $14 trillion, ... Read More
BusinessFraud Foreclosure Business Fizzles out
Updated: Nov 16th, 2010 9:46 AM
Bank lawyers prosecuting the 80,000 foreclosure cases in New York are all but admitting that the cases they have filed over the past number of years have been riddled with fraud.
In the three weeks-plus since New York State Chief Judge Jonathan Lippman put the foreclosure lawyers on notice that any fraud in foreclosure ... Read More
BusinessAmazon to Buy Diapers.com, Soap.com For $500M
Posted: Nov 8th, 2010 10:48 PM
Expanding its online retail empire, Amazon.com Inc. said Monday that it is buying Quidsi, the owner of Diapers.com and Soap.com, for $500 million in cash.
Amazon said that privately held Quidsi will continue to operate independently after the acquisition, which is expected to close in December.
Amazon plans to assume ... Read More
Business, FoodKosherfest Tuesday And Wednesday (Video)
Updated: Oct 27th, 2010 10:23 PM
Kosherfest, the largest kosher food, beverage, wine, and spirits trade show for kosher retail professionals, is being held this year on October 26 and 27 at the Meadowlands Expo Center in Secaucus, NJ. The first Kosherfest was March 6, 1987. Subsequently, the kosher show was transformed from a public event to a private ... Read More
BusinessFree Checking Is Disappearing
Posted: Oct 20th, 2010 9:03 AM
NEW YORK — Free checking as we know it is ending.
The days when you could walk into a bank branch and open an account with no charges and no strings attached appear to be over. Now you have to jump through some hoops – keep a high balance, use direct deposit or swipe your debit card several times a month.
One new ... Read More
Politics, BusinessThe True History of The LAC- Getting What They Can
Updated: Oct 15th, 2010 9:30 AM
LAC member Shuey Shmukler and John Corzine
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by Hershel Herskowitz
With all the chatter lately about what the LAC has been doing on the Board of Education, The Lakewood's Voice wanted to know how the LAC was founded, what its goals were, and what their political ... Read More
BusinessGM Posts 4Q Net Profit As Comeback Continues
Posted: Feb 24th, 2011 11:47 AM
DETROIT — General Motors posted a $510 million profit in the fourth quarter and $4.7 billion for the year as it continued an impressive comeback from bankruptcy.
The profits were fueled by strong sales in China and the U.S. as the global auto market began to recover.
GM made 31 cents per share for the quarter, which ... Read More
BusinessWal-Mart Fires 4 Employees Who Disarmed Gunman
Posted: Feb 16th, 2011 8:27 PM
(NEWSER) – Wal-Mart is a stickler for store policy: It fired four employees in Utah after they disarmed a convicted felon who pulled a gun on them. After the employees saw the man try to shoplift a netbook, they escorted him to a store office, reports AoL News. There, he pulled out the handgun and pressed it to an employee's ... Read More
Business, Impact, US NewsAchtung! Germans Taking Over NYSE
Posted: Feb 10th, 2011 10:46 AM
Your 401(k) may soon read "Made in Germany."
The Germans are about to buy the symbol of American capitalism -- the New York Stock Exchange -- in a spectacular deal that could end Wall Street's claim to being the financial center of the world.
The Big Board's parent company, NYSE Euronet, announced yesterday it is in ... Read More
Politics, BusinessWhy Can't Lakewood Attract Businesses Even With Tax Abatements? by Harold Herskowitz
Posted: Feb 8th, 2011 12:05 AM
An important subject arose from all of the talk about tax abatement for commercial properties recently. As many of us read, the Township granted an abatement for five years from paying for the improvements on properties located at Sunset and James, and the infamous five story building on Monmouth and 4th street. The ... Read More
BusinessNew Developer To Take Over Xanadu Mall Revitalization (With Video Of Xanadu)
Posted: Dec 26th, 2010 4:10 AM
Governor Chris Christie and the consortium of lenders that own the debt on Meadowlands Xanadu ("Lender Group"), announced today that Triple Five, owner of Mall of America, has signed a letter of intent with the Lender Group, "subject to final documentation, to revitalize the Meadowlands complex."
Lender wants to ... Read More
BusinessWalMart Tries Again For NYC Store
Updated: Dec 19th, 2010 2:14 AM
NEW YORK — Wal-Mart is again trying to open stores in New York City after failing twice because of community opposition, tweaking its message and its strategy.
Steven Restivo, a spokesman for the Bentonville, Ark.-based Wal-Mart Stores Inc., told The New York Times in its online edition Sunday that the retailer is ... Read More
BusinessOnline Eyewear Seller Charged For Defrauding His Customers
Updated: Dec 7th, 2010 8:36 AM
The FBI arrested today Vitaly Borker the operator of “DecorMyEyes.com,” a website through which he sold purported luxury eyeglasses, for allegedly operating a scheme to defraud his customers by selling counterfeit and inferior quality goods and making unauthorized charges, and, when those victim customers complained, ... Read More
Business, Local NewsGov. Christie: NJ becoming more business-friendly
Posted: Dec 2nd, 2010 12:13 PM
New Jersey is in the process of changing its reputation as an unfriendly place for businesses to do business, Gov. Chris Christie said Wednesday.
"New Jersey has made it as difficult as possible over the last decade to be a business owner and operator in this state," Christie said. "Just about every level you can think ... Read More
BusinessWATCH OUT RIM: Bankers To Get Free iPads
Updated: Dec 5th, 2010 9:56 AM
Who says the iPad isn't for the enterprise?
JPMorgan is giving free iPads to its investment bankers, Bloomberg News reports.
In a move that is certain to chill BlackBerry-maker Research in Motion, the investment bank will provide bankers in the global investment division with the gadgets as part of a pilot program ... Read More
BusinessFeds' Insider Trading Bomb
Posted: Nov 20th, 2010 6:11 PM
The feds are drawing up insider trader charges that could shake the financial industry like never before, according to a published report.
Federal prosecutors in New York, the FBI and Securities and Exchange Commission have conducted a massive three-year criminal and civil investigation targeting consultants, investment ... Read More
BusinessIs The U.S. Postal Service On The Verge Of Going Broke?
Posted: Nov 14th, 2010 7:49 PM
It’s the biggest civilian employer after Walmart, but apparently the U.S. Postal Service is not too big to fail. Today, the Postal Service said that without Congressional action, it could be bankrupt by the end of next year. “We will continue our relentless efforts to innovate and improve efficiency. However, the need for ... Read More
BusinessNewspapers continue decline in New Jersey, U.S.
Posted: Oct 27th, 2010 10:27 PM
Free news on the Internet and rising costs have spelled continued circulation losses at U.S. newspapers.
Figures just released by the Audit Bureau of Circulations show average daily circulation fell 5 percent in the six months that ended Sept. 30, compared with the same period a year earlier.
The latest decline was not as ... Read More
BusinessNo Peace for Shalom Torah Centers
Updated: Dec 7th, 2010 8:58 AM
As most of our readers know, Shalom Torah Centers has been in bankruptcy for some time. After Shalom went bankrupt, literally a days after soliciting loans, 'askonim' stepped in to help stabilize the situation. Cynics have stated from day one that the primary motive of said Askonim was to salvage what they can, and protect ... Read More
BusinessBank Of America Plans To Resume Some Foreclosures
Posted: Oct 19th, 2010 9:10 AM
WASHINGTON — The pace of U.S. home foreclosures may not slow much after all.
Bank of America said Monday that it plans to resume seizing more than 100,000 homes in 23 states next week. It said it has a legal right to foreclose despite accusations that documents used in the process were flawed.
Ally Financial Inc's GMAC ... Read More
BusinessShould There Be More Legalized Gambling?
Posted: Oct 13th, 2010 5:19 PM
Even though the American Gaming Association recently stated that revenues for gambling are down this year, a growing number of state and city governments are looking at casinos and gambling as a way to spur economic growth during these hard economic times.
New York City has just approved a plan to install 4,500 slot machines ... Read More
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