At one time companies held worker’s hours to 39-1/2 per week, preventing them from being full time employees. The practice has been around for decades. Today we look at others – those not counted in unemployment numbers.
Archive for » March, 2009 «
The Federal Deposit Insurance Corp. said late Thursday it will not pay any more money to people who had deposits with IndyMac Bank above the FDIC insurance limits in effect when the bank was seized last year.
Category: Lenders
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Omni National, with $980 million in assets, was shut by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. was named receiver, the OCC said today in a statement. The Federal Reserve on March 17 ordered the bank to bolster its capital and make improvements in accounting controls within 30 days.
Category: Economic Impact
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Quote of the day, March 10, 2009: Private equity company Blackstone Group LP CEO Stephen Schwarzman said that up to 45 percent of the world’s wealth has been destroyed by the global credit crisis.
Category: Economic Impact, Quotable Quotes
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There is no doubt that the Spin Doctors have been successful. They spun the economy into a frenzy that could not be sustained. Others put the spin on the stock market, while speculators put a spin on everyone with high gas and oil prices. Fair and balanced news is so far from the truth it not even funny.
Category: Editorial
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