Financial News Story of the Day – American Airlines Files for Bankruptcy to Avoid $800 Million Union Payouts

The American Airlines bankruptcy we all expected finally occurred today. The troubled airline’s parent company, AMR Corp., cited high union payouts and fuel costs as the major reasons for going to bankruptcy court, where American could legally reorganize and void its prior contracts with labor unions.…

Financial News Story of the Day – Mark Zuckerberg Plans Facebook IPO for 2012

The Facebook IPO everyone has been waiting for looks like it will finally happen sometime in the first 6 months of 2012. While Facebook CEO Mark Zuckerberg has yet to announce a date, sources are saying it will happen early next year and the company’s financials are ready to go.…

Financial News Story of the Day – RIM Stock Suffers Due to Apple and Android

RIM stock is down in the dumps unofficially making the Blackberry creator the new Palm. For those who don’t believe it, there’s a truckload of outperformed technology and hardware to go with the troubled handset maker, mirroring Palm’s own death spiral before a gift buyout by HP.…

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Financial News Story of the Day – Groupon Deal Costs Cupcake Business $20,000

Groupon, the hot daily deal site that recently went public, has just cost Need a Cake bakery owner Rachel Brown $20,000. Brown initially posted a deal on Groupon offering a 75% discount on a batch of cupcakes that drew in 8,500 customers.…

Financial News Story of the Day – Thanksgiving Tradition Threatened by Black Friday 2011

If you love Black Friday or Cyber Monday, you may be contributing to what some are calling the death of Thanksgiving. Traditionally a time for loved ones to gather and give thanks, Thanksgiving week is now known for shopping as much as it is for family.…

Source: TheWashingtonExaminer.com

Financial News Story of the Day – California Attorney General Sends Fannie and Freddie Subpoenas

The California attorney general finally had enough and subpoenaed both Fannie Mae and Freddie Mac, both federal institutions that are loaded with mortgage debt. Specifically, the state is looking to see how the two lending giants are handling foreclosures in the state.…

Financial News Story of the Day – Wells Fargo Expects 80 Will Be the New 65 for Retirees

According to a Wells Fargo survey, the younger generation of workers that you’re a part of can now expect to tack on another 15 years of work before enjoying retirement. Studies show that people are living longer than ever, but would you be happy spending those extra years working?…

Financial News Story of the Day – FHA May Need Its Own Bailout in 2012

The FHA itself may need a bailout next year according to a new report out of Washington. The federal agency has thus far insured more than $1 trillion in mortgages and will need rescue if the housing market does not rebound in 2012.…

Financial News Story of the Day – Amazon’s Kindle Fire May Oust iPad 2 This Holiday Season

The Amazon Kindle Fire may out do even Apple’s mighty iPad 2 according to a survey by Retrevo, an online shopping guide. As consumers are looking for cheaper tablet alternatives that still deliver big on user experience and quality this holiday shopping season, it comes as no surprise that demand for the $199 Kindle Fire is so high.…