News release: “The Securities and Exchange Commission today announced that former Countrywide Financial CEO Angelo Mozilo will pay a record $22.5 million penalty to settle SEC charges that he and two other former Countrywide executives misled investors as the subprime mortgage crisis emerged. The settlement also permanently bars Mozilo from ever again serving as an officer or director of a publicly traded company. Mozilos financial penalty is the largest ever paid by a public company’s senior executive in an SEC settlement. Mozilo also agreed to $45 million in disgorgement of ill-gotten gains to settle the SECs disclosure violation and insider trading charges against him, for a total financial settlement of $67.5 million that will be returned to harmed investors.”
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Daily Archives: October 15, 2010
BLS: Consumer Price Index
Consumer Price Index, October 15, 2010: ” The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in September on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.1 percent before seasonal adjustment. Increases in food indexes and another… Continue Reading
BLS: Real Earnings – September 2010
Real Earnings – September 2010: “Real average hourly earnings for all employees fell 0.1 percent from August to September, seasonally adjusted. This decrease stems from a 0.1 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U), while average hourly earnings remained unchanged. Real average weekly earnings fell 0.1 percent over the month.” Continue Reading
Congressional-Executive Commission on China 2010 Annual Report
“The Congressional-Executive Commission on China has released its 2010 Annual Report on human rights and the rule of law in China, along with a list of over 1,450 political prisoners currently detained or imprisoned in China, compiled from the Commission’s Political Prisoner Database. The Annual Report provides a comprehensive, public examination of human rights and… Continue Reading
Spending on mortgage interest payments and charges decreases from 2007 to 2009
Bureau of Labor Statistics: “Spending on mortgage interest payments and charges, a subcomponent of housing expenditures (the largest component of consumers budgets in 2009), fell from $3,890 in 2007 to $3,594 in 2009evidence of the higher than normal default rate on mortgages, falling house prices, lower rates of homeownership, and declining mortgage interest rates over… Continue Reading
2010 Best-Performing Cities – 200 Largest Metros
“The 2010 Milken Institute Best-Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. In most years, these give a good indication of the underlying structural performance of regional economics. The full report can be downloaded… Continue Reading
