auto industry would look considerably different had both GM and Chrysler been allowed to go under. … … Ford Motor Co. (NYSE: F) did not accept any federal bailout funds, but CEO Alan Mullaly said last year, “If GM and Chrysler would’ve gone into free-fall, that could’ve taken the entire supply base into free-fall also, and taken the U.S. from a recession into a depression. That is why we testified on the behalf of our competitors even though we clearly did not need precious taxpayer money.” Chrysler received $1.9 billion in federal funds before being taken over by Italy’s Fiat SpA.
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Good U.S. Jobs News Leaves Europe Stocks Lower
However few understood the amount of the fine they might be subjected to if they violated the health law’s mandate to buy a policy. “One of the key questions surrounding the Affordable Care Act is whether or not young Americans — especially healthy young Americans — will sign up for health insurance,” said Laura Adams, InsuranceQuotes.com’s senior analyst. Some 65 percent of respondents between the ages of 18 and 29 said they would buy health insurance, compared to just 57 percent of those age 30 and older. When asked what the potential penalty might be if they didn’t buy health insurance, the vast majority of respondents in every age and demographic category professed ignorance. Only two in ten guessed the cost range correctly, the rest either vastly over- or under-estimated the fines. The fines for failing to buy health insurance in 2014 are the greater of $95 per person or 1 percent of household income above minimum thresholds ($10,000 for singles; $20,000 for married couples). The penalties will rise significantly in future years, however.
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High joblessness despite more job openings: Can Mel Watt fix this?
A report from Automatic Data Processing ADP -0.77% Automatic Data Processing Inc. U.S.: Nasdaq $77.43 -0.60 -0.77% Dec. 11, 2013 4:00 pm Volume (Delayed 15m) : 2.78M AFTER HOURS $77.90 +0.47 +0.61% Dec. 11, 2013 7:00 pm Volume (Delayed 15m): 125,234 P/E Ratio 26.84 Market Cap $37.80 Billion Dividend Yield 2.48% Rev. per Employee $191,870 10/02/13 U.S.
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Report: Man arrested for offering phony sports coaching jobs
CBS Los Angeles reported that Kenneth Edward Tarr, 32, was arrested early Monday, was charged with eavesdropping, and is in custody on $20,000 bail, according to the LAPD. NBC News website provided additional details, reporting that Tarr pranked big-name coaches from the NBA, NFL and college football into believing he was offering them jobs with pro or college teams. Among the victims who reportedly received calls were former USC offensive coordinator and current University of Hawaii head coach Norm Chow, Minnesota Vikings head coach Leslie Frazier and San Diego Chargers offensive coordinator Ken Whisenhunt. Tarr allegedly also contacted former Tampa Bay Buccaneers and Indianapolis Colts coach Tony Dungy to offer him the until-recently vacant head coaching job at USC. Tarr is alleged to have boasted of having successfully hoaxed dozens of sports personalities with his phone calls and was apparently surprised when his calls were returned. Tarr reportedly told Los Angeles sports reporter Fred Roggin that he considered himself to be on the new frontier of broadcast journalism and sports media and had supplied a video recording of a phone conversation he had with NBA coach Mark Jackson. 2013 CBS Interactive Inc.
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Employment prospects dim over Obamacare
Why? Negative equity. This traps workers in areas where theres a surplus of labor available and depressed real estate values. Problems like these are likely policy targets. First, this means the Fed will continue to keep short-term interest rates as low as possible to increase home affordability.
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Stock Market Jumps After Strong Jobs Report
Stocks jumped at the open and moved higher throughout the day. The Dow Jones industrial average rose by as much as 200 points in early afternoon trading before easing back slightly before the close. The Dow closed up 198.69 points, or 1.3 percent, to 16,020.20. The Standard & Poor’s 500 index rose 20.06 points, or 1.1 percent, to 1,805.09, its biggest gain in a month. The Nasdaq composite climbed 29.36, or 0.7 percent, to 4,062.52. All 10 sectors in the S&P 500 index rose. Industrial stocks and others that tend to rise the most when the economy is growing posted some of the biggest gains.
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