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Update: World, U.S. news briefs for Thursday, Dec. 8
![<strong><span style="font-size: small;">Ex-Penn State coach Sandusky makes bail</span></strong>](http://media.trb.com/media/thumbnails/story/2011-12/66635315-08033956.jpg "<strong><span style="font-size: small;\">Ex-Penn State coach Sandusky makes bail</span></strong>")
Ex-Penn State coach Sandusky makes bail
BELLEFONTE, Pa. (AP) -- Former Penn State assistant football coach Jerry Sandusky was released from jail Thursday after spending a night behind bars following a new round of child sex abuse charges filed against...Tags: Arts and Culture, Rod Blagojevich, Washington, DC, Sexual Misconduct, Executive Branch
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S.D. Sen. Thune seeks action on brokerage bankruptcy
PIERRE (AP) — South Dakota Sen. John Thune says Congress needs to make sure problems like MF Global's bankruptcy don't happen again because farmers, ranchers and grain elevators depend on futures contracts as a hedge against price fluctuations. MF...Tags: Bankruptcy, Derivative Securities, Financially Distressed Companies
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Minn. farmer tells of losses in MF Global failure
MINNEAPOLIS (AP) — A Minnesota farmer told a Senate panel Tuesday he wants to know what became of $253,000 of his money that’s gone missing in the collapse of commodities trading firm MF Global Inc. Dean Tofteland, who raises corn,...Tags: Business, Bankruptcy, U.S. Senate, Petroleum Industry, Politics
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Minn. farmer to testify on MF Global collapse
MINNEAPOLIS (AP) — A Minnesota farmer will testify before Congress about his losses in the collapse of commodities trading firm MF Global Inc. Dean Tofteland raises corn, soybeans and pigs near Luverne in southwestern Minnesota. He has about...Tags: Bankruptcy, U.S. Senate, Amy Klobuchar
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Minnesota farmer tells of losses in MF Global failure
MINNEAPOLIS (AP) - A Minnesota farmer told a Senate panel Tuesday he wants to know what became of $253,000 of his money that's gone missing in the collapse of commodities trading firm MF Global Inc. Dean Tofteland, who raises corn, soybeans and pigs...Tags: Business, Bankruptcy, U.S. Senate, Petroleum Industry, Financially Distressed Companies
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![1>banner of the year <a href="/ct-trav-0925-camping-wisconsin-20110925,0,1391191.story">who is </a> 2> 3> <img height="105" width="187" src="http://www.baltimoresun.com/media/thumbnails/photo/2011-10/210821800-25140619.jpg" /> 4><iframe width="560" height="349" src="http://www.youtube.com/embed/pChzOaIeyxY" frameborder="0"></iframe> 5><object width="560" height="315"><param name="movie" value="http://www.youtube.com/v/_BI0szjpxJs?version=3&hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/_BI0szjpxJs?version=3&hl=en_US" type="application/x-shockwave-flash" width="560" height="315" allowscriptaccess="always" allowfullscreen="true"></embed></object> Groupon's stock shot higher in its first day of trading as a public company on Friday, with shares jumping 43 percent. The Chicago-based daily deals company's shares opened at $20 per share and quickly rose $7.71 to $27.71. It is trading on the Nasdaq under the ticker GRPN. Groupon Chief Executive Andrew Mason was in New York to ring the Nasdaq opening bell on Friday. He also posted a short message on the company's official blog that contained no trace of the quirky humor or references to cats that have marked his other correspondenc Still, the report suggests that President Barack Obama will likely face voters with the highest unemployment rate of any post-war president. The Labor Department said the economy added 80,000 jobs in October. It was the fewest in four months and below September's revised total of 158,000. The government revised August and September's data to show 102,000 more jobs added. Even so, October's modest job growth is barely enough to keep pace with population growth. About twice as many are needed to lower the unemployment rate. Many employers are hesitant to step up hiring until they see steady demand from consumers. Healthier consumer spending was the key reason the economy expanded at an annual pace of 2.5 percent in the July-September quarter, the best quarterly growth in a year. Growth in consumer spending tripled from the spring, despite renewed recession fears and wide fluctuations in the stock market. But economists worry that the summer spending gains can't be sustained. For one thing, Americans spent more in the third quarter even though they earned less. And they used their savings to make up the difference. Without more jobs and higher wages, consumers are likely to pare spending in the months ahead. Consumer spending is important because it accounts for 70 percent of economic activity. The economy generated an average of 130,000 jobs per month in the third quarter, up from 97,000 in the preceding three months. Still, that's down from 166,000 in the first three months of this year. The biggest change was August. Initially, the government said employers added zero net jobs that month. It has since been revised twice to show 104,000 jobs added. A raft of data Thursday offered a mixed picture for the economy and hiring. The number of people applying for unemployment benefits dropped below 400,000 for only the third time this year, the government said. Still, applications would need to fall below 375,000 to signal sustained job gains. They haven't been at that level since February. Services companies, which employ about 90 percent of the work force, hired more in October after cutting jobs in the previous month, according to a survey by the Institute for Supply Management. Overall growth for the service sector was mostly unchanged from September's slow pace. Companies ordered more factory goods in September for a third straight month. The gain occurred largely because businesses spent more on industrial machinery, computers and software. It's a sign that in the sluggish economy, many companies are investing in equipment but not in new hires. Businesses are getting more out their existing work forces while paying less to employ them. Worker productivity rose in the July-September quarter by the most in a year and a half. At the same time, labor costs fell. Higher productivity is generally a good thing. It can raise standards of living by enabling companies to pay workers more without raising their prices and increasing inflation. But without strong and sustained customer demand, companies are unlikely to hire. Federal Reserve Chairman Ben Bernanke said Wednesday that growth is likely to be "frustratingly slow," after the Fed sharply lowered its economic projections for the next two years. The Fed now says the economy will likely expand no more than 1.7 percent for all of 2011. That's down from its June forecast of 2.7 percent to 2.9 percent. And it predicted growth of only 2.5 percent to 2.9 percent next year, nearly a percentage point lower than its June estimate. The Fed said it doesn't expect the unemployment rate to be any lower this year. And it sees unemployment averaging 8.6 percent by the end of next year. Jon Corzine has resigned as MF Global Holdings Ltd's chairman and chief executive, four days after the futures brokerage filed for bankruptcy protection, culminating a rapid downfall for one of Wall Street's best-known executives.Corzine, 64, had run Goldman Sachs & Co from 1994 to early 1999, and was later a U.S. senator from New Jersey and governor of that state.MF Global, a company that Corzine joined in March 2010 and had once joked was viewed as "too small to care about," had been his ticket back to Wall Street.Corzine's departure came after MF Global's $6.3 billion bet on sovereign debt from Belgium, Ireland, Italy, Portugal and Spain scared away clients, counterparties and investors.The New York-based company's decline accelerated last week after it revealed more details about this exposure, posted a larger-than-expected quarterly loss, and was downgraded by major credit rating agencies to "junk" status.U.S. regulators, meanwhile, are conducting a broad review of the company's business as they try to track down more than $600 million of missing customer money.It is unclear how Corzine's resignation might affect the various investigations. Neither MF Global nor Corzine has been accused of wrongdoing.‘GREAT SADNESS'](http://www.chicagotribune.com/media/thumbnails/story/2012-01/65871016-09092629.jpg "1>banner of the year <a href="/ct-trav-0925-camping-wisconsin-20110925,0,1391191.story\">who is </a> 2> 3> <img height=\"105\" width=\"187\" src=\"http://www.baltimoresun.com/media/thumbnails/photo/2011-10/210821800-25140619.jpg\" /> 4><iframe width=\"560\" height=\"349\" src=\"http://www.youtube.com/embed/pChzOaIeyxY\" frameborder=\"0\"></iframe> 5><object width=\"560\" height=\"315\"><param name=\"movie\" value=\"http://www.youtube.com/v/_BI0szjpxJs?version=3&hl=en_US\"></param><param name=\"allowFullScreen\" value=\"true\"></param><param name=\"allowscriptaccess\" value=\"always\"></param><embed src=\"http://www.youtube.com/v/_BI0szjpxJs?version=3&hl=en_US\" type=\"application/x-shockwave-flash\" width=\"560\" height=\"315\" allowscriptaccess=\"always\" allowfullscreen=\"true\"></embed></object> Groupon's stock shot higher in its first day of trading as a public company on Friday, with shares jumping 43 percent. The Chicago-based daily deals company's shares opened at $20 per share and quickly rose $7.71 to $27.71. It is trading on the Nasdaq under the ticker GRPN. Groupon Chief Executive Andrew Mason was in New York to ring the Nasdaq opening bell on Friday. He also posted a short message on the company's official blog that contained no trace of the quirky humor or references to cats that have marked his other correspondenc Still, the report suggests that President Barack Obama will likely face voters with the highest unemployment rate of any post-war president. The Labor Department said the economy added 80,000 jobs in October. It was the fewest in four months and below September's revised total of 158,000. The government revised August and September's data to show 102,000 more jobs added. Even so, October's modest job growth is barely enough to keep pace with population growth. About twice as many are needed to lower the unemployment rate. Many employers are hesitant to step up hiring until they see steady demand from consumers. Healthier consumer spending was the key reason the economy expanded at an annual pace of 2.5 percent in the July-September quarter, the best quarterly growth in a year. Growth in consumer spending tripled from the spring, despite renewed recession fears and wide fluctuations in the stock market. But economists worry that the summer spending gains can't be sustained. For one thing, Americans spent more in the third quarter even though they earned less. And they used their savings to make up the difference. Without more jobs and higher wages, consumers are likely to pare spending in the months ahead. Consumer spending is important because it accounts for 70 percent of economic activity. The economy generated an average of 130,000 jobs per month in the third quarter, up from 97,000 in the preceding three months. Still, that's down from 166,000 in the first three months of this year. The biggest change was August. Initially, the government said employers added zero net jobs that month. It has since been revised twice to show 104,000 jobs added. A raft of data Thursday offered a mixed picture for the economy and hiring. The number of people applying for unemployment benefits dropped below 400,000 for only the third time this year, the government said. Still, applications would need to fall below 375,000 to signal sustained job gains. They haven't been at that level since February. Services companies, which employ about 90 percent of the work force, hired more in October after cutting jobs in the previous month, according to a survey by the Institute for Supply Management. Overall growth for the service sector was mostly unchanged from September's slow pace. Companies ordered more factory goods in September for a third straight month. The gain occurred largely because businesses spent more on industrial machinery, computers and software. It's a sign that in the sluggish economy, many companies are investing in equipment but not in new hires. Businesses are getting more out their existing work forces while paying less to employ them. Worker productivity rose in the July-September quarter by the most in a year and a half. At the same time, labor costs fell. Higher productivity is generally a good thing. It can raise standards of living by enabling companies to pay workers more without raising their prices and increasing inflation. But without strong and sustained customer demand, companies are unlikely to hire. Federal Reserve Chairman Ben Bernanke said Wednesday that growth is likely to be \"frustratingly slow,\" after the Fed sharply lowered its economic projections for the next two years. The Fed now says the economy will likely expand no more than 1.7 percent for all of 2011. That's down from its June forecast of 2.7 percent to 2.9 percent. And it predicted growth of only 2.5 percent to 2.9 percent next year, nearly a percentage point lower than its June estimate. The Fed said it doesn't expect the unemployment rate to be any lower this year. And it sees unemployment averaging 8.6 percent by the end of next year. Jon Corzine has resigned as MF Global Holdings Ltd's chairman and chief executive, four days after the futures brokerage filed for bankruptcy protection, culminating a rapid downfall for one of Wall Street's best-known executives.Corzine, 64, had run Goldman Sachs & Co from 1994 to early 1999, and was later a U.S. senator from New Jersey and governor of that state.MF Global, a company that Corzine joined in March 2010 and had once joked was viewed as \"too small to care about,\" had been his ticket back to Wall Street.Corzine's departure came after MF Global's $6.3 billion bet on sovereign debt from Belgium, Ireland, Italy, Portugal and Spain scared away clients, counterparties and investors.The New York-based company's decline accelerated last week after it revealed more details about this exposure, posted a larger-than-expected quarterly loss, and was downgraded by major credit rating agencies to \"junk\" status.U.S. regulators, meanwhile, are conducting a broad review of the company's business as they try to track down more than $600 million of missing customer money.It is unclear how Corzine's resignation might affect the various investigations. Neither MF Global nor Corzine has been accused of wrongdoing.‘GREAT SADNESS'")
1>banner of the year who is 2> 3> 4> 5> Groupon's stock shot higher in its first day of trading as a public company on Friday, with shares jumping 43 percent. The Chicago-based daily deals company's shares opened at $20 per share and quickly rose $7.71 to...Tags: Federal Reserve, Unemployment Benefits, Elections, Ben Bernanke, Career and Workplace
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Jon Corzine's troubles build after MF Global bankruptcy
Money & CompanyAs MF Global's bankruptcy recedes further into the past its problems are not going away. Since the firm, which was led by former Goldman Sachs chairman and U.S. Senator Jon Corzine, declared bankruptcy on Halloween each new week has brought forward... -
Corzine 'stunned' that MF Global couldn't find missing funds
Money & CompanyAs the first former U.S. senator to be subpoenaed by Congress in more than a century, Jon Corzine testified Thursday about the “last chaotic days” of MF Global, the trading firm that declared bankruptcy under his watch. Corzine said he...... -
MF Global fallout hits Minnesota grain elevators
By Tom Webb Pioneer Press The collapse of MF Global is sending shockwaves across rural Minnesota, where grain elevators and some farmers are stunned to find their commodity accounts threatened by the distant scandal. Although relatively few...Tags: Commodity Markets, Companies and Corporations, Bankruptcy, Economy, Business and Finance
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Markets face new threat: Greek referendum on Europe rescue plan
Money & CompanyThe euro continued to weaken in Asian trading early Tuesday after Europe’s financial-rescue plan suffered a fresh blow: Greek Prime Minister George Papandreou said he would hold a national referendum on the terms of Greece’s bailout package.... -
CBRE completes purchase of ING's real estate investment business
Money & CompanyCBRE Group Inc. on Monday completed a $900-million acquisition of ING Group's real estate investment management arm in Europe that makes the Los Angeles company the global leader in that business....
Dec 8, 2011
|Story| Petoskey News
Dec 14, 2011
|Story| Aberdeen News
Dec 13, 2011
|Story| Aberdeen News
Dec 13, 2011
|Story| Aberdeen News
Dec 16, 2011
|Story| Aberdeen News
Nov 4, 2011
|Story| Herald Mail
Dec 4, 2011
|Column| Chicago Tribune
Dec 6, 2011
| Los Angeles Times
Dec 8, 2011
| Los Angeles Times
Nov 10, 2011
|Story| Aberdeen News
Oct 31, 2011
| Los Angeles Times
Oct 31, 2011
| Los Angeles Times
Original site for MF Global topic gallery.