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  Tuesday, 1 Mar 2011 | 3:28 PM ET

Small Business Indicator: Labor Market Continues to Be Soft 

Posted By: Lori Ann LaRocco
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Any time I speak with my contacts about jobs it always goes back to the small businessman. Being the driver of jobs, the health of small business is key to a growing U.S. economy.

Today Intuit released its monthly Small Business Employment Index which aggregates online employment data from approximately 60,000 small business employers that have less than 20 employees. I asked Susan Woodward, the economist who worked with Intuit to create the index on this month's highlights.

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  Tuesday, 1 Mar 2011 | 2:33 PM ET

Rajat Gupta Had Inside Information on $61 Billion P&G Deal in 2005

Posted By: John Carney
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

The insider trader charges against Rajat Gupta raise the question: if he leaked to Raj Rajaratnam about the Goldman-Berkshire Hathaway deal, what else might he have leaked?

Gupta ran McKinsey & Co, one of the top advisors to corporate America, from 1994 to 2003. That position gave him almost unlimited access to inside information. Could Gupta have been leaking back then?

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  Tuesday, 1 Mar 2011 | 2:27 PM ET

Predatory Homeowners Run Amok!

Posted By: Ash Bennington
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Sold sign

A predatory homeowner paid off her mortgage 24 years early—depriving the bank of 288 valuable interest payments—and then has the nerve to complain about her FICA score!

From The Chicago Trib :

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  Tuesday, 1 Mar 2011 | 1:41 PM ET

Did the Europeans Just Invent a New Government Backed Derivative?

Posted By: Ash Bennington
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M. Lorden | Taxi | Getty Images

The chief executive of the European Financial Stability Facility has written a letter to the Financial Times to explain why EFSF bonds are not CDOs.

CDOs, or collateralized debt obligations, are a type of structured financial product that is funded by payments made from bonds or other fixed-income securities. CDOs typically have multiple tranches, which represent different payment priorities. \(For example, junior tranches of the CDO would get paid after senior tranches. Junior tranches, therefore, would pay higher rates of interest to compensate investors for their additional risk.\)

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  Tuesday, 1 Mar 2011 | 1:29 PM ET

Goldman Ex-Director Insider Trading Charges May Solve Long-Running Market Mystery

Posted By: John Carney
Rajat Gupta
Umesh Goswami | The India Today Group | Getty Images
Rajat Gupta

The insider trading charges against a Goldman Sachs board member filed today by the Securities and Exchange Commission have been a long time in coming.

The SEC’s Division of Enforcement said that Rajat K. Gupta, a Westport, Connecticut-based business consultant,provided Raj Rajaratnam with confidential information he learned while serving on the boards of Goldman and Procter & Gamble. Rajaratnam allegedly used the inside information to trade on behalf of hedge funds controlled by his company, Galleon. \(Click here to read the breaking news story from CNBC.com.\)

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  Tuesday, 1 Mar 2011 | 12:05 PM ET

Ex-Goldman Director Accused Of Leaking Inside Information

Posted By: CNBC.com
Rajat Gupta
Eric Piermont | AFP | Getty Images
Rajat Gupta

A former board member of Goldman Sachs was accused by the SEC of providing inside information about the investment bank—including its earnings and a pending investment by Berkshire Hathaway— to Galleon hedge fund founder Raj Rajaratnam.

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  Tuesday, 1 Mar 2011 | 11:24 AM ET

US Company Close to Deal to Buy UK's Second Largest Electricity Generator

Posted By: Lori Ann LaRocco
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U.S. energy supplier PPL Corp is close to a $6 billion cash deal to buy the UK electricity grid distribution business of E.ON AG, according to a person close to the deal.

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  Tuesday, 1 Mar 2011 | 11:08 AM ET

Prop Trading Moves Down the Hall at JPMorgan

Posted By: Ash Bennington
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Getty Images

JPMorgan is moving its proprietary trading unit out of its investment banking division and into its asset management division.

The Journal reports on the current state of affairs:

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  Tuesday, 1 Mar 2011 | 10:20 AM ET

Organization for International Investment: Foreign Direct Invest Is on the Rise Again

Posted By: Lori Ann LaRocco
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The deal between the Deutsche Boerse and the NYSE Euronext will be reviewed by The Committtee on Foreign Investment in the United States (CFIUS) and while insiders expect the deal to go through since it approved the Nasdaq OMX and Borse Dubai deal, the concerns about "national security" continue to be tossed around.

U.S. Subsidaries play an important role in the U.S. economy, some five percent of all jobs are created by them. I decided to ask Nancy McLernon President and CEO of the Organization for International Investment which represents U.S. subsidiaries, about her outlook on this merger and why U.S. Subsidaries are kicking up more cash to have a slice of American business.

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  Tuesday, 1 Mar 2011 | 9:33 AM ET

Uh Oh: Mark Zandi Just Said There Is 'Zero' Chance of a Major Muni Default

Posted By: John Carney
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Photo by: John Carney

Just when I was starting to feel less worried about the municipal bond market, along comes Mark Zandi.

Bloomberg reports :

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  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

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