Wednesday’s Business News

Economic Growth — Beige Book

The overall economy from late-October through mid-November expanded in 9 of 12 Federal Reserve Districts.

Here’s a link to the official report (the “Beige Book”). Read not only the summary but also the individual reports from each District.

For obvious reasons the media’s accounts of these items will be so agenda-driven as to be utterly useless.

SEC – Proxy Fights — Corporate Elections

The SEC on Wednesday conducted an important hearing regarding the contentious and interrelated issues of corporate elections and proxy materials.

This article by the AP is very biased, with an obvious agenda, but if you sift through all that you’ll be able to obtain the gist of the story.

Law + Order

Here’s a very good article — especially by media standards — concerning JDS Uniphase’s victory in California on a shareholder class action lawsuit regarding the 2000-2001 dot-com meltdown and putative fraud committed by JDS’ senior corporate officers.

As they say, read the whole thing. But pay particular attention to this item:

Since new laws governing class action securities [fraud] lawsuits were enacted in the mid-1990’s, just 16 such cases have went to trial . . . . . Of those cases decided by a jury, most went for the defendant companies

Ah, yes, the Securities Litigation Reform Act. Passed into law in late-1995 over Saint Bill’s veto. I distinctly remember that bill clearing Congress. One of the crowning achievements of the Gingrich/Armey/DeLay/Gramm years.

FCC – Cable Rules

The FCC happily refused to move forward on a proposal further to regulate the cable industry.

The decision by the board not to proceed was a needed setback for FCC Chairman Kevin Martin, who’s proving to be one of the most incompetent officials nominated by this president.

This account has an obvious agenda, but in the final analysis it sets forth the relevant facts with a sufficient modicum of clarity.

Stupid Is as Stupid Does

Man Arrested After Trying to Deposit a One Million Dollar Bill

A one *million* dollar bill, eh?

Obviously a Democrat. Hell, that guy probably will vote for Hillary not once but twice — in the same precinct!

"I'm Sorry If I Offended You By Stealing Your Work"
The Coming Recession