Word: wellses
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"It's hard to tell a village, 'You shouldn't accept these new wells or bicycles because it's from industry,' " says Stella Bialous, an adviser to the World Health Organization. "[But] when it comes time to pass regulatory things the company doesn't think reasonable, they can call in...
"Citigroup results indicate continued deterioration on the credit side," says Christopher Whalen, managing director of research firm Institutional Risk Analytics. "Citi is an outlier in terms of loss rates, above Bank of America and Wells Fargo."
And compared to rivals, Citi's performance looks even paler. Goldman Sachs and Wells Fargo both reported higher earnings in the second quarter than a year ago. JPMorgan's earnings were down from a year ago, but it still outperformed Citi in many parts of its business. Investment-banking revenues...
* | What They're Selling in California: Millions of dollars' worth of IOUs--which the financially strapped state is issuing in lieu of cash as it grapples with a $24 billion budget crisis--are appearing on websites like Craigslist, where opportunists are buying them at a discount so they can turn...
Airlines were using black boxes by the end of the the 1950s, but the instruments didn't become a mandatory feature until 1960, when the Federal Aviation Administration required all commercial planes to carry them. Initial versions contained literal tape recorders and were about the size and shape of a...