tagged w/ Forbes Magazine
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Magazine has released its annual list of the highest-paid models in the world yet again -- take a look!Magazine has released its annual list of the highest-paid models in the world yet... more
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;morenews
White House spokesman Robert Gibbs says that the decision to run a widely-criticized cover story by Dinesh D'Souza attacking President Obama "represents a new low."
"It's a stunning thing, to see a publication you would see in a dentist's office, so lacking in truth and fact," he told the Washington Post.
The D'Souza article is built around the notion that Mr. Obama is channeling his father's views. "This philandering, inebriated African socialist, who raged against the world for denying him the realization of his anticolonial ambitions, is now setting the nation's agenda through the reincarnation of his dreams in his son," D'Souza writes.
He makes these claims despite the fact that the president's father abandoned his family when Mr. Obama was two years old. Father and son only met one time after that, when the president was ten years old, and Mr. Obama was critical of his father in his memoir.
Gibbs was scheduled to meet today with Forbes's Washington bureau chief over the story, according to the Post. "Did they not fact-check this at all, or did they fact-check it and just willfully ignore it?" he said.
Both Forbes and D'Souza are standing by the article, which D'Souza describes as putting forth a "psychological theory."
Former GOP House speaker Newt Gingrich has embraced the article as illustrating the fact that the president operates out of out of a "Kenyan, anti-colonial" worldview. That comment prompted Gibbs to speculate earlier this week that Gingrich, a potential 2012 presidential candidate, was "trying to appeal to the fringe of people who don't think the president was born in this country.";morenews
White House spokesman Robert Gibbs says that the decision to run a... more
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by Zach Carter, Media Consortium blogger
The economy is terrible. Jobs are nowhere to be found. Wall Street bonuses are through the roof. But mainstream business journalism is still praising the con-men who created this mess, yet attacking anybody who takes real solutions—like government spending to create jobs—seriously.
Whatever corporate journalists say, the American economy will not recover until policymakers and the media acknowledge the mistakes of the past and move forward with a new economic agenda focused on middle-class prosperity, rather than financial evisceration by elites.
Creating jobs is key
As Annie Lowrey notes for The Washington Independent, while President Barack Obama’s economic stimulus package has dramatically slowed the pace of job losses, it hasn’t been enough to make a serious dent in the unemployment rate, which currently stands at 9.6 percent. Without a serious new set of stimulus measures, we’ll see that rate stay near double-digits for years to come.
But the stimulus package is not the only policy relevant to the economic recovery. The financial excess that sparked the Great Recession was not an accident, and much of it was straightforwardly illegal—even by the remarkably weak regulatory standards of the past decade.
As I emphasize for AlterNet, under President George W. Bush, bankers got away with all kinds of frauds. They’re continuing to get away with them under Obama. The allegations of wrongdoing range from cooking the books to the outright laundering of hundreds of billions of dollars in drug money.
Crime always pays
But you wouldn’t know it from reading a recent Washington Post op-ed by Reuters’ business editor Chrystia Freeland, which defines Wall Street problems exclusively as the product of government inadequacies, not deregulation. And of course, bank regulations were wholly inadequate in recent decades. Bankers lobbied hard for those rules, and pounced on the middle class once they were enacted. But Wall Street didn’t just win weak rules, they routinely violated rules that crimped profits. Crime always pays until you get caught. If bankers know they can caught and avoid punishment, they have no incentive to obey the law when doing so would crimp their bonuses.
And those bonuses are still wild and wonderful for corporate elites. As Sam Pizzigati emphasizes for Yes! Magazine, CEO pay last year was an astonishing four times higher than during the years of elite dominance shepherded by President Ronald Reagan. This kind of pay isn’t good for the economy. It’s a waste of resources that could be going to rank-and-file workers.
Business journalists skewing facts
The editorial pages of major newspapers aren’t the only places where preposterous business journalism pops up. As Kevin Drum notes, you can also read it on the pages of major mainstream business magazines.
In a blog post for Mother Jones, Drum takes down one of the worst articles on both Obama and business that has yet been written. It’s by right-wing writer Dinesh D’Souza, and it reads like a combination between a Birther conspiracy theory, a coded racist rant and a completely incoherent assault on reasonable economic policy.
Without citing any evidence, D’Souza calls Obama, “the most antibusiness president in a generation, perhaps in American history,” and goes on to blame this attitude on the “anticolonialist” views of Obama’s Kenyan father. One might expect this kind of garbage to be running in white nationalist newsletters, but as Drum highlights, the article was published in Forbes magazine, a thoroughly mainstream conservative business rag (don’t confuse Forbes with Fortune, which uncovered the Enron scam).
Obama’s baby steps
Obama could make outrageous attacks like D’Souza’s easier to defend if he proposed a set of bold, new policies to combat the recession. Instead, as William Greider highlights for The Nation, Obama is going for half-measures that will make things a little less worse, but won’t really put the economy back on track. His recently proposed tax cuts for small businesses and $50 billion in infrastructure spending will indeed create jobs– just not enough of them.
We need a robust government plan to create jobs, which means lots of spending for government hiring, expanded benefits for the unemployed, and robust government investments in the national infrastructure. All of these things will cost money, but if we don’t put people back to work, the resulting lack of economic growth will make the federal budget deficit far worse than the jobs spending will.
Helping the middle class isn’t “antibusiness,” it’s common-sense economics. If all of our economic policies are geared toward throwing money at the rich, we’ll just watch rich people hoard most of that money. Repairing our economy requires repairing the middle class. That means lots of jobs—and in a deep recession, only the government can provide those jobs.
This post features links to the best independent, progressive reporting about the economy by members of The Media Consortium. It is free to reprint. Visit the Audit for a complete list of articles on economic issues, or follow us on Twitter. And for the best progressive reporting on critical economy, environment, health care and immigration issues, check out The Mulch, The Pulse and The Diaspora. This is a project of The Media Consortium, a network of leading independent media outlets.by Zach Carter, Media Consortium blogger
The economy is terrible. Jobs are nowhere... more
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CLICK LINK FOR MOE INFO
http://getwititmagazine.com/2009/11/16/736/
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Obama tops the list of the world's heavy hitters.
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As of March 2009, Bill Gates is the richest man in the world at around $40 billion. If that's what a pants wearing man can make, how much could a fine feathered duck possibly be worth?
Five multiplujillion, nine impossibidillion, seven fantasticatrillion dollars and sixteen cents?As of March 2009, Bill Gates is the richest man in the world at around $40 billion. If... more
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It's another first for this First Lady. Michelle Obama made her debut Wednesday on Forbes magazine's annual list of the world's 100 most powerful women, taking the 40th spot.It's another first for this First Lady. Michelle Obama made her debut Wednesday... more
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Angelina Jolie topped Forbes' Celebrity 100 list for 2009, knocking Oprah from the top spot. Barack Obama came in at 49, being the first sitting head of state to ever make the list.
Forbes Top 10
1. Angelina Jolie.
2. Oprah Winfrey.
3. Madonna.
4. Beyonce Knowles.
5. Tiger Woods.
6. Bruce Springsteen.
7. Steven Spielberg.
8. Jennifer Aniston.
9. Brad Pitt.
10. Kobe Bryant.Angelina Jolie topped Forbes' Celebrity 100 list for 2009, knocking Oprah from... more
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Net Worth:$9.0 bil(the same as last year dispite 6 tons of gold jackpot!!)
Fortune:self made
Source:oil
Age:63
Country Of Citizenship:Saudi Arabia
Residence:Jeddah
Industry:Oil
Education:NA,
Marital Status:married, 8 children
Born in Ethiopia and now a Saudi citizen. Built fortune in construction and real estate in Saudi Arabia before betting on energy. Began investing in Sweden in 1974; owns Svenska Petroleum and Swedish refinery Preem. Has invested more than $2 billion in Ethiopia, from hotels to stevedoring. Hit jackpot with gold mine in the Oromo region of Ethiopia; it now produces 6 tons of gold annually, set to double production by 2010. Owns several properties in London and the U.S. Donated more than $1 million to the Clinton Foundation.Net Worth:$9.0 bil(the same as last year dispite 6 tons of gold jackpot!!)... more
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Last year the world had 1,125 billionaires. Today there are 793. How $1.4 trillion vanished.
It was hard to avoid the carnage, whether you were in stocks, commodities, real estate or currencies. Even people running fine businesses could have been killed by frozen credit markets, weak consumer spending or fraud.
"It's going to get worse," says David Geffen, who watched his net worth fall 25% to $4.5 billion as real estate and art prices softened. "I don't think we've hit the bottom. It wouldn't surprise me if the Dow fell below 6000. Unemployment is now 8.1%, which means it's really 13.1% after you add 5% for part-time workers and people who are no longer on the employment rolls. I think it will reach 15% or 16% by the end of the year."
The biggest loser in the world this year, by dollars, was last year's biggest gainer. India's Anil Ambani lost $31.9 billion--76% of his fortune--as shares of his Reliance Communications, Reliance Power and Reliance Capital all collapsed. Ambani is one of 24 Indian billionaires, all but one of whom are poorer than a year ago. Another 29 Indians lost their billionaire status entirely. India's stock market has fallen 44% in a year, global equity prices 39%.
Donald Trump, we estimate, has seen nearly half of his net worth disappear. His casino company is in bankruptcy--again. His $1 billion hotel and condo tower in Chicago hasn't closed enough previously agreed-to sales and can't find new buyers. Evidently having some difficulty making timely repayments of $640 million in unguaranteed construction loans from Deutsche Bank, he sued the lender last fall (but recently took the lawsuit off the table). As cranes stand idle above half-built residential real estate projects around the world, Trump's ability to profit from licensing his name and marketing expertise to other developers has become impossible to gauge--despite his popularity. "We're not going down; we're going up," says Trump. "We're buying things we couldn't have dreamed of buying two years ago. And we have a lot of cash."
The Donald always makes a few shrewd moves. Last May Trump sold a Palm Beach, Fla. house to Russian tycoon Dmitry Rybolovlev, who was worth $12.8 billion last year, for $100 million. In the months that followed, shares of the new homeowner's publicly traded fertilizer outfit, Uralkali, cratered, erasing three-quarters of his fortune. Trump dumped some of the cash he made into a few golf courses put on the block by their cash-strapped owners.
Rybolovlev was one of the lucky Russians who kept their billionaire status. Russia became the epicenter of the world's commodities bust, dropping 55 billionaires. Among them: Dmitry Pumpyansky, an industrialist from the resource-rich Ural mountain region, who lost $5 billion as shares of his pipe producer, TMK, sank 84%.
Last year Moscow overtook New York as the billionaire capital of the world, with 74 tycoons to New York's 71. Today there are 27 in Moscow and 55 in New York.
As credit froze, commodities spoiled and manufacturing stalled, some of last year's biggest gainers suffered the largest losses this year.
Anil Ambani added $24 billion between 2007 and 2008, only to give back $32 billion. Warren Buffett's $10 billion bump in 2008 won him the heavyweight title in 2008. Today he is one of five people to have dropped $25 billion or more, and slips to second place.
The ten biggest dollar losers lost a combined $238 billion in the past year, more than the GDP of Ireland or Israel. Still, these tycoons are worth a combined $175 billion, and half of them are still among the ten richest people on the planet.Last year the world had 1,125 billionaires. Today there are 793. How $1.4 trillion... more
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The richest people in the world have gotten poorer, just like the rest of us. This year the world's billionaires have an average net worth of $3 billion, down 23% in 12 months. The world now has 793 billionaires, down from 1,125 a year ago.
After slipping in recent years, the U.S. is regaining its dominance as a repository of wealth. Americans account for 44% of the money and 45% of the list's slots, up seven and three percentage points from last year, respectively. Bill Gates lost $18 billion but regained his title as the world's richest man. Warren Buffett, last year's No. 1, saw his fortune decline $25 billion as shares of Berkshire Hathaway fell nearly 50% in 12 months. Mexican telecom titan Carlos Slim Helú maintains his spot in the top three but lost $25 billion.The richest people in the world have gotten poorer, just like the rest of us. This... more
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The world's youngest billionaires have lost nearly a third of their wealth, according to Forbes rich list.
The average net worth of billionaires aged 40 and under is $2.9bn (£2.1bn), down 30% from last year.The world's youngest billionaires have lost nearly a third of their wealth,... more
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Lots of people are chiming in as Barbie turns the big 5-0. Sarah Haskins wrote a great op-ed piece about how little girls like her (and me) put our Barbies through degrading and simultaneously liberating sexual acts with everyone from Ken to G.I. Joe to other toys not even in Barbie's scale.
Neil Steinberg (a boy!) writes in Forbes about girls who take this behavior one step further: mutilators.
Yes, I remember with equal fondness cutting, painting, and melting my Barbies as I do throwing their legs in the air for a no-safe-word-allowed romp with a tuxedo-clad Ken. (A white, sleeveless tuxedo jumpsuit with a gold bow, to be exact. Ah, the 80's.)
Steinberg barely scratches the surface of this questionable activity, chalking it up to a "cool" alternative to driving Skipper to school in the pink convertible or strapping on a stethoscope to cure little Kimberly's croup. He also says that kids put pretty much all of their toys through the process of destruction, but since Barbie's a pretty lady, people actually notice.
--St_Alia_10191Lots of people are chiming in as Barbie turns the big 5-0. Sarah Haskins wrote a... more
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I cannot believe "Forbes" rated monsanto one of the good environmentally responsible corporations. I started to nervously laugh and then I got very angry about it.
http://www.forbes.com/2009/03/05/best-corporate-citizens-leadership-citizenship-ranking.html?partner=whiteglove_google
At the link scroll down to check out monsanto's ratings.
Are we all going mad in this world? Are most of us corrupted and blind about the destruction of our planet?
For those who are not yet aware of this evil monster destroying our planet check this link and join the battle "Millions against monsanto".
Let's stop them!I cannot believe "Forbes" rated monsanto one of the good environmentally... more
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Keira Knightley is the youngest actress to have been included in business magazine Forbes' list of Hollywood's most bankable stars.Keira Knightley is the youngest actress to have been included in business magazine... more
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ClareW
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Chicago would seem to be on quite a roll these days. The city is a leading contender to host the Summer Olympics in 2016. The hometown Cubs had the most wins of any team in the National League last year and are one of the early favorites to win the 2009 World Series. And, of course, one of its own just became the most powerful person in the world (we're not talking about Oprah either, but she's close).
So with all of the good vibes coming out of Chicago, how does it show up as the third worst city on our second annual list of America's Most Miserable Cities?
Lousy weather, long commutes, rising unemployment and the highest sales tax rate in the country are to blame for the Windy City being near the top of our list. High rates of corruption by public officials didn't help either.
The Most Miserable City In America is Stockton, California followed by Memphis, Tennessee.Chicago would seem to be on quite a roll these days. The city is a leading contender... more
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We love us top ten list dealing in a greener economy...and this list especially --'In this time of economic uncertainty' -- sounds like investing and getting involved with a greener field might pay off where it $ counts...
Here's the top ten best paying environmental jobs -- with salaries over $100,000 (via Forbes Magazines): (click link for full details @ ecorific.com)
1. Chief Sustainability Officer
These are the folks who keep their company in line: making sure government regulations are met and suggesting environmentally friendly initiatives.
2. Environmental Engineer
Environmental Engineers minimize the environmental impact of construction and development projects. The demand for environmental engineers is projected to grow by 25% by 2016.
3. Environmental Lawyer
Environmental lawyers can represent environmental groups or their adversaries. Obviously the green choice is the former—Forbes doesn’t specify which one is the big economic winner, but I’m guessing the oil companies pay more than NRDC.
cont @ ecorific.omWe love us top ten list dealing in a greener economy...and this list especially... more
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The rich haven't gotten richer -- or poorer -- this year. The price of admission to this 27th edition of the Forbes 400 is $1.3 billion for the second year in a row. The combined net worth of America's wealthiest rose by $30 billion -- only 2% -- to $1.57 trillion.
Rising prices of oil and art paved the way for 31 new members and eight returnees (after absences), while volatile stock and housing markets forced 33 plutocrats from our rankings.
With a net worth of $57 billion, Microsoft (MSFT, news, msgs) co-founder Bill Gates is again the richest man in America, after losing his crown to Warren Buffett for a few months last spring. Buffett's shares in Berkshire Hathaway (BRK.A, news, msgs) have fallen 15% since February.
Newcomers to the list include fertilizer tycoon Alexander Rovt, car dealer and art collector Norman Braman, and Patrón tequila founder John Paul DeJoria.
Also new is Mark Zuckerberg, the 24-year-old founder of social-networking site Facebook, who debuts on the Forbes 400 with an estimated net worth of $1.5 billion.
Among the returnees are Urban Outfitters (URBN, news, msgs) chief Richard Hayne and Gap (GPS, news, msgs) founders Donald and Doris Fisher, who rode the swelling contemporary-art market back onto the list. The couple's art collection is thought to be worth more than $1 billion.
The Forbes 400 is a snapshot of estimated wealth on Aug. 29, the day we locked in prices of publicly traded stocks. Given how unsettled the stock market is, some people on our list will become significantly richer or poorer within weeks -- even days -- of publication. Many, including American International Group (AIG, news, msgs) shareholders Eli Broad and Steven Udvar-Hazy, have lost hundreds of millions of dollars.
The average net worth among the Forbes 400 is $3.9 billion.
The biggest loser this year was casino mogul Sheldon Adelson, whose fortune has fallen $13 billion in the past 12 months -- $1.5 million per hour -- as shares of his Las Vegas Sands (LVS, news, msgs) have dropped 75% from their all-time highs last October.
Fellow casino kingpin Kirk Kerkorian lost $6.8 billion this year as his stock in MGM Mirage (MGM, news, msgs) fell 70% since last fall. (He was last year's biggest gainer, doubling his fortune as MGM shares rose 135%.)
Other tycoons who have lost big bucks this year include GPS receiver maker Garmin's (GRMN, news, msgs) Min Kao, down $2.9 billion; Google (GOOG, news, msgs) guys Sergey Brin and Larry Page, down $2.7 billion and $2.6 billion, respectively; eBay (EBAY, news, msgs) founder Pierre Omidyar, down $2.6 billion; and media maven Sumner Redstone, down $2.5 billion.
This year's biggest gainer is New York City Mayor Michael Bloomberg, whose estimated net worth rose $8.5 billion after he bought back a 20% stake in financial data and news company Bloomberg from Merrill Lynch (MER, news, msgs) this summer, finally putting a price tag on the private media outfit.
Several Forbes 400 veterans fell off the list this year. Among them were former AIG head Maurice "Hank" Greenberg and former eBay chief Margaret Whitman.
Two-thirds of the members of the Forbes 400 have fortunes that are entirely self-made, while 19% of the group inherited their entire fortunes.
There are 42 women on the list, with an average net worth of $4.2 billion. Oprah Winfrey saw her wealth increase $200 million, to $2.7 billion.
Six members of last year's list have died, including potato king John Simplot and building-supplies magnate Kenneth Hendricks. Hendricks is replaced by his wife, Diane. Other deaths included those of medical-device inventor James Sorenson and Cargill heir John Hugh MacMillan III.
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Are you a billionaire? Do you feel empathy for the billionaires because they are not making as much money as they did before?The rich haven't gotten richer -- or poorer -- this year. The price of admission... more
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Since when was being a gold-digger something to aspire to? Films about a women who seduce men for their wealth are on the increase.
Real women are increasingly encouraged to do the same specializing in dating websites and 'how to' guides.
More gold-digging for 2009?
Since when was being a gold-digger something to aspire to? Films about a women who... more
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No one ever said being a doctor was easy. School and training go on seemingly forever; once graduation arrives, doctors work long hours and are faced with life-and-death decisions daily. No one ever said being a doctor was easy. School and training go on seemingly forever;... more
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