Scam Diego Entries for March, 2009

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Parent of Chicago Sun-Times Files for Bankruptcy

Sun-Times Media Group today (March 31) filed for Chapter 11 bankruptcy, and intends to continue operating. The paper has a ...

San Diego Real Estate Values Back to August 2002 Levels

San Diego metro real estate values have now plunged 40.8 percent from their peak in November of 2005, according to ...

Arena Pharmaceuticals' Stock Plunges on Disappointing Results of Weight Loss Drug

Here's the skinny on biotech Arena Pharmaceuticals' experimental weight loss drug, Lorcaserin: Wall Street thinks late-stage study results don't measure ...

Lead Indicators of San Diego Economy as Gloomy as Ever

Pundits are desperately looking for positive signs for the national economy, but San Diego can't offer any. The lead indicators ...

Shed a Tear: Top Hedge Fund Managers' Average Pay Dropped 48% Last Year -- to $464 Million

The people who run the 25 top-performing hedge funds had to live on a mere $464 million average income last ...

Citigroup Employees in Company's Stock Plan Sue in District Court

Citigroup employees who participated in the ailing company's stock purchase plan filed a suit in district court yesterday (March 24), ...

Two Nobel Economists Denounce Geithner Plan for Lining Wall Street Pockets

Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman today (March 24) lambasted the plan by Treasury Secretary Tim Geithner to ...

Economist Who Correctly Called Downturn Leaves Bank of America

This announcement sounds like an economist getting punished for having the courage and intelligence to be right. David Rosenberg, economist ...

Geithner Caves in to Blackmail; Participants in Financial Rescue Package Won't Have Pay Limits

Sunday evening (March 22), President Obama uttered some intelligent words: Wall Street was overpaid, he said, noting that 25 years ...

Owner of Plane that Crashed in Montana Appears to Have San Diego Connections

Reader document sleuth Matt Potter has traced the apparent San Diego connections of the owner of the plane that crashed ...

Florida Marlins Agree to Share Profits with Governments if Team Sold

The Florida Marlins professional baseball team, begging for a big government subsidy for a new ballpark, agreed this week to ...

Councilmember Frye Says City Budget Deficit Actually Much Higher; Also Derides Bond Issuance

Councilmember Donna Frye, consistently the only member of the body to have a grasp of economics, today (March 20) sent ...

San Diego Unemployment Rises to 8.8% in February, but Narrowly Trails National Rate

San Diego County's unemployment rate rose to 8.8% in February, up from a revised 8.7% in January and up sharply ...

U-T Heads Will Be Chopped More Severely; Economics Dictates It

Union-Tribune employees expected another mass axing in February. It didn't come. But an even larger head-chopping than expected will inevitably ...

Union-Tribune Sold to Private Equity Group Teaming with Black Press, Long-Time Rumored Buyer

The Union-Tribune announced this morning that it has been sold for an undisclosed price. The buyer was announced as a ...

Copley Slashes Retiree Health Benefits

Copley Newspapers today (March 17) announced deep cuts in health care coverage for retirees. In trying to lure certain employees ...

Newspapers Should Go Totally Online, Says Writer for Business Week Magazine

"To stop the red ink, newspapers need to get rid of the ink altogether. It's high time for online-only operations." ...

Next Will Come No-Newspaper Markets, Says New York Times Story

"In 2009 ad 2010, all the two-newspaper markets will become one-newspaper markets, and you will start to see one-newspaper markets ...

No Plea Deal for Madoff; Could Spend Remaining Days in Prison

There will be no plea agreement for notorious New York Ponzi schemer Bernard Madoff, a prosecutor said in Manhattan court ...

Sempra's Federal, State Relationships in the Spotlight

David Hayes, President Obama's nominee to be deputy interior secretary, hasn't lobbied the department in more than two years, as ...

Most Newspaper Chains' Stocks Down At Least 90% in Last Year

Here's how much the market has knocked down newspaper stocks in the last 52 weeks. I picked 10 representative newspaper ...

Hedge Fund Disasters Lead to Resignation of Chief Investment Officer of County Retirement Fund

David Deutsch, chief investment officer of the San Diego County Employees Retirement Association, resigned today (March 5), as a result ...

County Unemployment Surges to 8.6% in January; Jobs Down 28,300 in Month

The San Diego County unemployment rate jumped to 8.6% in January from a revised 7.5% in December and 5.1% a ...

EDC PR Machine Takes Credit for NY Times Fluff Piece

Here is the first paragraph of a release this morning (March 4) from the Economic Development Corp. (EDC). "San Diego ...

If 3 Major Dailies Are Worth $22 Million, What Is U-T Worth?

There is a Dallas company named AH Belo Corp. that owns 3 major daily papers: the Dallas Morning News, Press-Enterprise ...

USD 29th in Undergrad Business Education, Says Business Week

The University of San Diego's undergraduate business school has risen sharply to 29th in the U.S., according to the annual ...