Browsing Archive: June, 2009

California May Issue I.O.U.

Posted by Cartoosh on Monday, June 29, 2009, In : Budget crisis

6/24/2009

The state controller of California, John Chiang, warned that the state government will have to start issuing I.O.U. to its creditors, if the lawmakers fail to close the $24 billion budget gap by July 2.

"Next Wednesday we start a fiscal year with a massively unbalanced spending plan and a cash shortfall not seen since the Great Depression," Controller John Chiang said in a statement announcing that he would be forced to use I.O.U.s to pay the state's bills beginning on July 2.

Cal...
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Fruitless Fall: The Collapse of the Honey Bee and the Coming Agricultural Crisis

Posted by Cartoosh on Wednesday, June 17, 2009, In : Economy

Another good book "Fruitless Fall: The Collapse of the Honey Bee and the Coming Agricultural Crisis" has arrived at Cartoosh's Economy Bookstore for your summer reading. Below is the book review for your convenience.

From Publishers Weekly
With a passion that gives this exploration of colony collapse disorder real buzz, Jacobsen (A Geography of Oysters) investigates why 30 billion honeybees—one-quarter of the northern hemisphere's population—vanished by the spring of 2007. He identifies t...
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Panic! The Story of Modern Financial Insanity

Posted by Cartoosh on Sunday, June 14, 2009, In : Economy

We have added a book to Cartoosh's Economy/Finance Bookstore: "Panic: The Story of Modern Financial Insanity" It's very easy to read. You'll enjoy it. Here is the review from Publishers Weekly:

Lewis (Liars Poker) takes readers on a spin through notable recent financial catastrophes including the stock markets 1987 crash, the Russian default and related failure of hedge fund Long-Term Capital Management, the Asian currency crisis, the Internet bust and the recent subprime debacle. While t...
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GM Filed For Bankruptcy Protection

Posted by Cartoosh on Tuesday, June 2, 2009, In : Automobile

6/1/2009

Another piece of history was made today, as General Motors filed for bankruptcy protection.

Following Chrysler's bankruptcy filing on April 30, GM's filing is the fourth-largest in U.S. history and the largest for an industrial company. The largest automaker in the U.S. has been in financial trouble, since the global economy tumbled. The company has $172.81 billion in debt and $82.29 billion in assets at the moment.

"The General Motors board of directors authorized the filing of a...

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