LOS ANGELES (MarketWatch) -- BP PLC will reduce its contribution to U.S. coffers by roughly $10 billion due to a tax credit the company is claiming it incurred from the Gulf of Mexico oil spill. [more]
I just read this on MarketWatch; thought it was clever:
Gold dealer: The dollar is worthless. Gold is the only safe investment.
Customer: But all I have are these worthless dollars.
Gold dealer: We'll take 'em all.
"A seven-year-old contract signed by Facebook founder Mark Zuckerberg granting a New York businessman an ownership stake in Zuckerberg's then-fledgling Web project may be real, a Facebook lawyer acknowledged Tuesday in federal court hearing." [more]
From this morning's Wall Street Journal: [more]
"The people who have been laid off and cannot find work are generally people with poor work habits and poor personalities. I say “generally” because there are exceptions. But in general, as I survey the ranks of those who are unemployed, I see people who have overbearing and unpleasant personalities and/or who do not know how to do a day’s work." [more]
"The yield on two-year Treasuries fell to an all-time low of 0.5765pc on Friday. It's Weimar, all right: circa 1931, not 1923."
I'm in Vancouver, British Columbia, covering the Assault on Enterprise Symposium for Fool.com. [more]
My experience at the Apple store today [more]
Pardon me while I vindicate Godwin's Law for a moment. [more]
This is a very meaningful quote by Felix Salmon, and is backed up by a good body of evidence:
"The best predictor of future default is simply past default: credit ratios tell you almost nothing. The UK managed to get through debt-to-GDP levels of 240% without defaulting or even inflating the debt away in the early 19th Century, while Russia defaulted in 1998 with a debt-to-GDP ratio of just 12.5%."