Archive for July 22nd, 2009

Analysis: Obama missteps confuse health overhaul (AP)

Determined to avoid the fatal missteps of the Clinton White House, President Barack Obama is wobbling along his own precarious path to try to overhaul the nation’s health care.

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Obama tries to rally support for health revamp (AP)

Six months in office, President Barack Obama sought to rally support for sweeping health care legislation Wednesday night as Congress struggled to find agreement on a historic overhaul.

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Judge: Okla. can’t seek damages in poultry suit (AP)

Oklahoma can’t pursue monetary damages in its environmental lawsuit against a dozen Arkansas poultry companies because it didn’t name the Cherokee Nation as a plaintiff, a federal judge ruled Wednesday in a major blow to the state.

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Economy keeps hurting eBay as 2Q profit falls (AP)

The recession continued to hurt eBay Inc. in the second quarter, as earnings and revenue fell amid a sales decline in the main online marketplace, overshadowing growth in its payments and Skype communications units.

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Glimmer of hope in EBay marketplace sends shares up (Reuters)

EBay Inc posted better-than-expected quarterly results after managing to slow a persistent deterioration in its main Web auctions and retail business, propelling its shares nearly 5 percent higher.

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Bernanke fights for Fed independence (Reuters)

Federal Reserve Chairman Ben Bernanke on Wednesday fought hard to protect the independence of the U.S. central bank and keep responsibility for consumer protection on financial products in its hands.

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Economy - Wednesday (Investor’s Business Daily)

Bernanke warns on CRE defaults

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GE to exit Temporary Liquidity Guarantee Program (AP)

General Electric Co. said Wednesday that it has begun to exit a program that allows companies to issue debt backed by the federal government, a tool the industrial and financial conglomerate used to raise money during the credit crunch.

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Work toward creating a new consumer agency hits snag (CNNMoney.com)

One of the signature proposals in the Obama administration’s efforts to reshape the regulatory framework for banks has been slowed as supporters regroup in the midst of mounting opposition.

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Community Bank System Announces Second Quarter Results and Declares Cash Dividend (Business Wire)

SYRACUSE, N.Y.—-Community Bank System, Inc. reported quarterly net income of $9.2 million in the second quarter of 2009, a decrease of 18.9% compared to the $11.3 million reported for the second quarter of 2008.

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