August 2008

Today is a crucial day for the markets. The July monthly jobs report will be released later this morning at 8:30am. Why is it so important? It’s one of our best and most important barometers of how difficult this economy has been. It’s our monthly window into the health of the job market and our opportunity to see how many people are unemployed. Just yesterday the weekly jobless claims number ... read more

This morning we tackled two very important and difficult issues about the state of the auto industry and the loss of tens of thousands of jobs. One, what is happening to the state of Michigan due to job losses at the Big three automakers and two, what are they doing to help people who have lost their jobs, get training and find new jobs. We split the discussion into two parts. On a day where ... read more

Do you know who has won the MOST Olympic medals in U.S. history? I bet you don't! I didn't, until this morning. Jenny Thompson, the former Olympic swimmer, competed in four Olympics and has twelve medals -- eight of which are gold! Unbelievable right? It gets better. Jenny finished competing in the 2004 Olympics but along the way she managed Olympic training and medical school. She graduated ... read more

As we speak, Senator McCain is probably completing a speech and question-and-answer session at the National Urban League's 98th Annual Conference. Senator McCain speaks today and Senator Obama speaks tomorrow. For those of you who don't know, The Urban League was established in 1910 and is the nation's oldest and largest community-based organization dedicated to empowering African Americans. ... read more

Much to my great shock, Obama did the unthinkable this weekend and agreed to “limited” offshore drilling. Woohoo!!!! As you know, McCain has been in support of offshore drilling and so has the American public. Recent polls have suggested as many as 75% of Americans surveyed are in favor of offshore drilling if it can help lower prices at the pump. Republicans have been all for it and ... read more

In this week's installment of America's Greatest Business Rivals, we took a look at ExxonMobil and Chevron, two of the oil industry's giants. In light of the skyrocketing cost of oil, the scrutiny these companies are receiving for excessive and historical profits and the need for more resources, it was a no-brainer. Look at how this rivalry began and where it is headed. ... read more

Have you been reading about the pension plan failures at the big three automakers and airlines? The number of pensions that are underfunded and at risk grows every single day, and the threats to your hard-earned work are greater than ever. The good old days of "sock it away and your nest egg will be ready when you're due to retire" have passed. It's time to wake up and do some homework about your ... read more

Later today, the Federal Reserve Bank meets to decide whether or not they want to change their stance on interest rates. It is presumed in the markets that the Fed will do nothing and keep rates at 2%. However, Dallas Fed President Richard Fisher, who voted in favor of a quarter-point rate hike at the last meeting, will likely vote the same way at this meeting in June. Odds are that Philadelphia ... read more

This morning on Money for Breakfast we brought together three great minds to discuss the one, two punch that is Bernanke and Paulson.  Who is the face of this credit downturn? Are they tag teaming? Have we seen this in the past? What will Bernanke and the Fed do today? It's widely expected that the Fed will leave rates unchanged. So is the bigger story today, the possible dissention he faces from ... read more

On The Opening Bell this morning I talked to Former Fed Governor Dr. Susan Phillips, who is now dean of the George Washington School of Business. I not only asked her what was happening behind the scenes when she was a Fed governor from 1991 through 1998 but also what she saw during her tenure. Much like Bernanke and Paulson, there was a time during her tenure, that Greenspan, the former Fed ... read more