As some oil producing nations move from dollars to the Euro, the value of the dollar declines. The dollar has devalued 9.9% compared to the Euro this year. Most recently, “the United Arab Emirates said it will convert some of its reserves of U.S. assets into the European currency” according to Bloomberg’s news [...]

In Celotex Corp. v. Fibreboard Corp., 2006 U.S. App. LEXIS 31305 (11th Cir. 2006), the 11th Circuit Court of Appeals held that Fibreboard could not bring a subrogation claim against Celotex in bankruptcy proceedings under either the Bankruptcy Code or state law. The Court held that Fibreboard is not entitled to subrogation for payment [...]

Top executives of Ford Motor Co. and Toyota Motor Corp. met in Tokyo last week to which was described as a courtesy call.
“Both Toyota and Ford officials told Japanese and US media that the talks focussed on the development of environmentally friendly technology — such as hybrid gasoline — electric engines, which Toyota pioneered, and [...]

Another sign of the times in which we live: 74% of car loans are for 60 months, up significantly from several years ago. The high price of cars, the general consumer attitude of “I want the best now” despite the cost of long term borrowing, and the fact that all cars are better made [...]

1.1 Million homeowners who have subprime loans taken out in the past couple of years could lose their homes in the next few years. Subprime loans are loans given to borrowers with a poor credit history. The loss of equity will amount to an estimated $74.6 billion to these borrowers.
“The report, written by [...]

I just finished an interesting book entitled: Optical Illusions: Lucent and the Crash of Telecom. It was written to trace one company’s rise and fall through the telecom boom and bust between 1997 and 2002 or so. “No industry looked more promising or bled more money than telecommunications. With the collapse in [...]

The U.S. Treasury Department released a report finding “that under the accrual method of accounting, the deficit for 2006 would have totaled $449.5 billion, not the widely reported $247.7 billion incurred under the cash system of accounting.” The finding was released in a 166-page “Financial Report of the United States Government” for the 2006 [...]

On Friday, December 15, Judge David C. Godbey of the United States District Court for the Northern District of Texas, Dallas Division, issued a final judgment in the case of Hersh v. U.S.. The judgment is a declaratory judgment that Section 526(a)(4) of the Bankruptcy Code violates the First Amendment of the U.S. Constitution. [...]

The law firms of Kirkpatrick & Lockhart Nicholson Graham based in Pittsburgh and Preston Gates & Ellis out of Seattle have agreed to merge, effective Jan. 1. This merger will result in a firm of over 1,400 attorneys with offices on both coasts.
http://www.nylawyer.com/display.php/file=/news/06/12/121506e

Goldman Sachs Group reported earnings of $9.34 billion for this year. The company also announced that it would allot $16.5 billion for salaries, bonuses and benefits for their employees. That amount averages out to 622,000 for each employee.
“The bonuses at Goldman, the leading merger advisor in the industry, and elsewhere on Wall [...]