Recent Updates

  • Execs plead guilty to illegal Musgrove donations

    Execs plead guilty to illegal Musgrove donations

    Business Law 08/14/2008

    Two businessmen involved with a failed $55 million beef plant pleaded guilty this week to illegally contributing to a past campaign by a Democrat now in a tight U.S. Senate race.Former Mississippi Gov. Ronnie Musgrove, who is running for the seat vac...

  • HP-EDS deal price at issue in court hearing

    HP-EDS deal price at issue in court hearing

    Business Law 07/23/2008

    A shareholder group is trying to pressure Electronic Data Systems Corp. into demanding more than the $13.2 billion that Hewlett-Packard Co. has offered for the technology services company.The group said Monday it intends to ask a judge in Collin Coun...

  • Investment firms don't draw emergency loans

    Investment firms don't draw emergency loans

    Business Law 07/11/2008

    In a sign of some improvement in the credit crisis, Wall Street firms for the first time didn't borrow from the Federal Reserve's emergency lending program and commercial banks also scaled back.Investment firms didn't draw such loans for the week end...

  • Appeals court: EchoStar not barred from lease deal

    Appeals court: EchoStar not barred from lease deal

    Business Law 07/08/2008

    Federal law does not bar satellite television provider EchoStar Communications Corp. from leasing a transponder to another company to transmit network signals, a U.S. appeals court ruled Monday.CBS Corp.'s CBS Broadcasting subsidiary, News Corp.'s Fo...

  • W.Va. Gov. seeks review of $400M DuPont case

    W.Va. Gov. seeks review of $400M DuPont case

    Business Law 07/03/2008

    Gov. Joe Manchin wants the West Virginia Supreme Court to clarify whether DuPont has the right to be heard as it appeals $196.2 million in punitive damages, about half the amount a jury awarded in a case involving health threats from a former zinc sm...

  • MBIA loses $2.4 billion on write-downs

    MBIA loses $2.4 billion on write-downs

    Business Law 05/12/2008

    MBIA Inc. reported Monday a loss of more than $2 billion for the first quarter after taking a $3.6 billion charge for losses on derivatives, but shares of the embattled bond insurer traded as much as 10% higher.Posting its third straight quarterly lo...

  • Fed to Lend $200 Billion More to Ease Market Strain

    Fed to Lend $200 Billion More to Ease Market Strain

    Business Law 03/11/2008

    Scrambling to ease the strain on the credit market, the Federal Reserve announced a $200 billion program on Tuesday that would allow financial institutions, including the nation’s major investment banks, to borrow ultra-safe Treasury money by using s...

  • Sharp drop in jobs suggests US economy in recession

    Sharp drop in jobs suggests US economy in recession

    Business Law 03/09/2008

    Dangerous cracks in the nation's job market are deepening. Employers slashed jobs by the largest amount in five years and hundreds of thousands of people dropped out of the labor force — ominous signs that the country is falling toward a recession or...

  • A glance at the top players in Enron saga

    A glance at the top players in Enron saga

    Business Law 03/02/2008

    KENNETH L. LAY Birth date: April 15, 1942. Career: Former chairman and CEO. Founded Enron in 1985 when his Houston Natural Gas merged with InterNorth in Omaha, Neb., and became chairman and CEO the next year. Stepped down as CEO in February 2001 when...

  • Insurer AIG Posts $5.3B Loss in 4Q

    Insurer AIG Posts $5.3B Loss in 4Q

    Business Law 02/29/2008

    American International Group Inc., the largest insurer in the U.S., lost more than $5 billion in the fourth quarter as bad credit ate into its investments, the company said Thursday.AIG has been thrust to the forefront of the credit crisis gripping f...

  • Sprint posts big loss, stops dividend

    Sprint posts big loss, stops dividend

    Business Law 02/28/2008

    Sprint has lost tends of thousands of key customers to rivals such as AT&T Inc. and Verizon Wireless, hurt by poor customer service and lackluster selection of handsets. The company recently hired a new chief executive, Dan Hesse, to fix its aili...

  • Retail sales stage unexpected rebound

    Retail sales stage unexpected rebound

    Business Law 02/13/2008

    Sales at retailers unexpectedly rose 0.3 percent in January, partly reflecting stronger sales of new cars and gasoline, according to a Commerce Department report on Wednesday.January's sales increase followed a 0.4 percent decline in December and was...

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