fox-business

Fox News Says Walgreens CEO 'Destroyed Capitalism' By Listening To Customers (VIDEO)

Fox News Says Walgreens CEO ‘Destroyed Capitalism’ By Listening To Customers (VIDEO)

Photo CC by ProducerMatthew

Walgreens decision not to engage in the controversial, and potentially illegal tax avoidance scheme of corporate inversion was met with much praise by consumer watchdog groups across this country. This, of course, brought out the unpatriotic crowd who sees tax schemes as some form of sacred duty instead of a way to cheat the system.

To demonstrate how out of touch Fox…

View On WordPress

Fox News Jumps The Shark, Now Bashing Obama For Making Price Of Gas... Too Cheap

Fox News Jumps The Shark, Now Bashing Obama For Making Price Of Gas… Too Cheap

Reaching levels of partisan desperation that had previously been unknown to science, Fox News has officially criticized Obama for making gas prices too cheap. It marks the first day in which Fox News hasn’t criticized Obama for making gas prices too expensive.

Fox News and its sister station, Fox Business, have an unspoken rule that requires them to make any news item they cover fit into the…

View On WordPress

Trying to Dodge a Bullet

 

Things are not looking up for embattled Dodgers owner Frank McCourt.

After two years of intense legal battle with his estranged wife Jamie, the battle for control of the Los Angeles Dodgers rages on. On Monday, Bud Selig and Major League Baseball rejected a long-term FOX media deal that would have allowed Mr. McCourt to make payroll on June 30th.

If Mr. McCourt does not make payroll, he could face two lengthy and expensive litigation cases — one against his wife and another against the MLB Commissioner. Mr. Selig, who already runs the Dodgers day-to-day operations, would be forced to seize control of the team, stadium and other assets.

This morning on Varney & Co., former Mets Manager Steve Phillipssaid that it would be extremely difficult for Mr. McCourt to keep control of management and remain the sole owner of the team.

“On June 30th, when [Dodgers Management doesn’t] meet payroll, [the MLB] will pay the salaries for the players, they will take it over and likely force Frank McCourt to sell the team,” he said, saying that the question really is whether or not McCourt is going to try and sue the MLB despite having signed a clause that prohibits him doing so.

According to Forbes, the Dodgers are valued at $722 million, making them the fourth most valuable franchise in baseball. Mr. McCourt bought the team from News Corporation, the owner of FOX Sports and the FOX Business Channel, in 2004 for $430 million. Since then, the organization has accumulated more than $433 million in debt and is on the verge of insolvency.

Stuart Varney and Chris Cotter questioned why the MLB did not allow the $3 billion FOX TV deal to go through, which would have allowed McCourt to make payroll and keep control of the team. Phillips believes that “Bud Selig does not trust Frank McCourt. He looks at the situation that the Dodgers are in right now and realizes that Frank and Jamie McCourt have taken out over $100 million for personal interests.”

Mr. McCourt’s use of funds that should have been used to pay the players raises the question of where the TV money will go. Will it be used to continue to fund the two-year divorce lawsuit or actually fund the team allowing them to make payroll?

Despite being the current owner of the Dodgers, McCourt cannot act in his own interests for a number of reasons. Phillips explains that the Dodgers “have to meet certain financial constrictions that Major League Baseball has in place. Bud Selig is looking at the fact that one of the preeminent franchises in baseball cannot meet payroll right now and he has no belief that the money coming in will go to the team.”

With the deadline less than a week away, Mr. McCourt and Dodgers management still have a few days to find some sort of solution. Phillips deems it unlikely, however, that a solution will be found and says that “he is going to go down fighting, but he is not going to come out prevailing.”

With the deadline less than a week away, Mr. McCourt and Dodgers management still have a few days to find some sort of solution. Phillips deems it unlikely, however, that a solution will be found and says that “he is going to go down fighting, but he is not going to come out prevailing.”


Read more: http://www.foxbusiness.com/on-air/varney-co/transcript/trying-dodge-bullet#ixzz1QEH2xI3I

Dish Network Caves, Reinstates Fox News At Higher Price To Be Absorbed By Customers

Dish Network Caves, Reinstates Fox News At Higher Price To Be Absorbed By Customers

After weeks of relentless bullying and whining from the conservative propaganda machine, Fox News has been reinstated by Dish Network. And Dish customers are going to pay the price.

Rather than stick to their guns and continue standing against Fox News, Dish Network reached a deal in the same week Bill O’Reilly and Megyn Kelly accused the satellite provider of censorship.

The weeks long dispute…

View On WordPress

Unsettling Employment

According to the National Bureau of Economic Research, the largest economic slowdown since the Great Depression ended in June 2009, however, the latest job numbers suggest otherwise.

The June jobs report showed that nonfarm payrolls rose by a meager 18,000, far less than even the most conservative estimates of 90,000.  The private sector added 57,000 jobs, while the government lost 39,000.  The overall unemployment rate in the United States rose by a theth of a percent to 9.2%, the highest level since September 2010.  The disappointing data puts another damper on an already slow recovery and does not bode well for the immediate future of the U.S. economy.   

Earlier today on Varney & Co., Republican Representative Phil Gingrey from Georgia emphasized the negative reaction to the employment numbers, but stressed that there could be more bad news to come. 

“We’ve got reports out of Georgia, the Atlanta Journal Constitution; saying that employers across the country are projecting more cutbacks in jobs as we go forward, the news is not good.”  

Joanie Ruge, Senior Vice President Field Operations for the SFN Group, echoed Mr. Gingrey’s sentiment.

“I think when you look at the government sector, and we’ve seen this now for a few months, we’re really starting to see those declines and we are hearing about all those cuts. I expect that we are going to continue to see job losses in that public sector.”

Another issue is that despite large corporations having large amounts of cash on hand, they haven’t started hiring.   According to Ms. Ruge, these businesses “have learned how to operate so efficiently over the last two years.  They have done all the layoffs, they’re getting by with hiring less people but that is not going to be sustainable forever.”

The question is when will these business start to hire more workers. Unemployment has been over 9% for 24 of the past 26 months and there is no end in sight.  The average time that someone has been unemployed is at a record high of 40 weeks.  The bad news does not end there; payrolls for the past two months were revised down by a total of 44,000 to show job gains of 25,000 and 217,000 in May and April respectively.  

Other countries do not seem to be feeling the same pain. For example, Canada, a country with a 10% of population the U.S., created over 28,000 jobs in June.  In addition, the stock market seems to be shrugging off the negativity.  Company Member Sandra Smith pointed out that, “the stock market is still posting healthy gains on the year, we saw that retailers sales improved, there are going to be things like that point to well, the consumer may be feeling a little bit better.”

Either way, President Obama has a tough job ahead.   For the President to achieve an employment rate under 8% by Election Day, at least 225,000 jobs would have to be added each of the next 16 months.  If the next job reports continue to disappoint, the economy could be stagnant for a long time to come.

youtube

FOX NEWS DOES IT AGAIN!!!

Here’s a copy of what I wrote to the color of change.org website. This organization exists to strengthen Black America’s political voice. They are trying to make government more responsive to the concerns of Black Americans while bringing about positive and social change for everyone. Check out the website and video, sign the petition. We must fight back at the Fox News and it’s race-baiting. They think they can get away with it by hiding it on Fox Business. I’m not about to let that happen. Will you?

Eric Bolling has gone beyond the pale (no pun intended). He is out of control and in the end will affect Fox News’ bottom line. I plan to boycott any and every sponsor that advertises during Eric Bolling’s appearances on Fox Business. Fire Eric Bolling or see your bottom line severely hampered.

An executive at Fox Business Network sent a memo to staff suggesting that maybe the channel should focus more on business news and less on trying to be like its sister site, Fox News.

Peter Lauria at Reuters obtained an October 5 memo from Kevin Magee, executive vice president of FBN, titled “Fox News and Fox Business.”

“I’ve been asked to remind you all again that they are separate channels and the more we make FBN look like FNC the more of a disservice we do to ourselves,” Magee said.

“I understand the temptation to imitate our sibling network in hopes of imitating its success, but we cannot,” he continued. “If we give the audience a choice between FNC and the almost-FNC, they will choose FNC every time. Earnings, taxes, jobs etc give us PLENTY to chew on.”

Sadly, FBN will still be too much like its’ bigger cousin, Fixed Noise.

Well that was a first...

My first TV appearance was in a commercial for my dad’s video game store. It was a cheesy, low budget ad but nonetheless exciting.

This morning I went on national TV for a quick interview about Product Hunt and how its being used by investors. Here’s my interview with Deirdre Bolton on Fox Business:

Watch the latest video at video.foxbusiness.com

Thanks for having me, Deirdre and Fox. :)

There was a guy cruising bars pretending to be me and picking up women about ten to fifteen years ago. When I heard about it once, I dismissed it. When I heard about more times, I became a little alarmed.
—  Libertarian-leaning Fox Business Channel host John Stossel • Discussing the bizarre quandary he faced back in the late ‘90s, when a guy pretending to be Stossel apparently used his similar look to the mustachioed former ABC host to pick up some ladies at bars. Stossel found out after at least three women mentioned it to him — and Stossel got in touch with the dude's mom, though he doesn’t remember if he called or if an ABC News staffer did. He can laugh about it now, kinda, but really not cool, Stosselganger.
youtube

Ron Paul on the Stossel show on Fox Business.  43 min.

Great positive media coverage from Stossel!

youtube

Dad on Fox Business

Trying to get the word out about Investors Against Genocide.