Starbucks won't cut worker
benefits ahead of Obamacare
reports that Starbucks Corp. CEO Howard Schultz said his company
will not follow the lead of other companies that are cutting health insurance
benefits or reducing hours for employees in anticipation of the Patient
Protection and Affordable Care Act.
U.S. judge tosses BofA
suit vs FDIC over $1.7 billion investor losses
reports that a federal judge threw out Bank of America Corp.'s
lawsuit against the Federal Deposit Insurance Corp. (FDIC) over $1.7 billion of
investor losses stemming from the collapses in 2009 of a large regional bank
and a large mortgage lender. The lawsuit concerned the FDIC's role as receiver
for a banking unit of Alabama's Colonial BancGroup Inc. and the implosion of
Taylor, Bean & Whitaker Mortgage Corp., home to what federal prosecutors
called a $2.9 billion mortgage fraud.
Not cool, bro: Billabong
brand declared worthless
reports that shares of Australian surfwear maker Billabong
plunged in Sydney trading after the company posted an annual loss of more than
triple its market value. Shares fell as much as 15 percent before a late
afternoon recovery. The Gold Coast-based company also wrote down to zero the
value of its Billabong and Element brands, deeming them essentially worthless.
Sales plummeted 13.5 percent compared with last year.