JPMorgan’s Dimon gets his $23 million pay package

Even as he apologized for a $2 billion trading loss, shareholders approved JPMorgan Chase CEO Jamie Dimon’s $23 million pay package Tuesday at the bank’s annual meeting.
The meeting comes just days after the bank disclosed the massive trading loss, an event that led to the departure of its chief investment officer and forced its […]

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Republicans shift burden to avoid defense cuts

Surprise! The budget battles are back.
In an effort to avoid cuts to defense spending, House Republicans are pushing a bill that would shift hundreds of billions in spending cuts from the Pentagon to domestic programs, services for the poor and government regulators.

The plan would strip regulators of the ability to wind down failing […]

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Sarkozy Becomes First French President in 30 Years to Be Ousted - Bloomberg

Nicolas Sarkozy

The 86 million invisible unemployed

There are far more jobless people in the United States than you might think.
While it’s true that the unemployment rate is falling, that doesn’t include the millions of nonworking adults who aren’t even looking for a job anymore. And hiring isn’t strong enough to keep up with population growth.

As a result, the labor […]

Japan Seen Anteing Up on Stimulus as Yen Impact Fades: Economy - Bloomberg

Japan

Paper: UBS head calls tax flap ‘economic war’

Switzerland’s tax disputes with the United States and some European nations are “an economic war” putting 20,000 jobs at risk, the CEO of Swiss banking giant UBS AG has been quoted as saying.
Switzerland has recently tried to shed its image as a tax haven, signing deals with the United States, Germany and Britain to provide […]

Dole recalls bagged salad for salmonella risk

Dole Food Co.’s fresh vegetables division is recalling 756 cases of bagged salad, because they could be contaminated with salmonella.
The salads were distributed in Alabama, Florida, Illinois, Indiana, Maryland, Massachusetts, Michigan, Mississippi, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and Wisconsin.
Dole said late Saturday that it’s coordinating with regulatory officials and that no illnesses […]

Chesterfield outlet mall race still up for grabs

Everyone seems to agree that only one outlet mall will be built in Chesterfield.
But exactly which one is anybody’s guess.
Two major developers have been angling for months to build an outlet mall along Highway 40 on sites less than five miles apart.
The fierce competition took on the feel of a tennis match last week, with […]

Missouri Medicaid contractor to lay off 119

Molina Healthcare of Missouri plans to lay off 119 employees by June 1, according to a notice filed with the state’s Department of Economic Development.
The planned layoffs follow the company’s loss of managed care contracts for Medicaid patients.
Molina, a losing bidder, has an office in Creve Coeur. The company has filed a lawsuit against the […]

Stocks on a roll, but small investors miss the party

The stock market is on a roll this year. The pros are bullish, yet John and Jane Public are still scared of stocks.
The market, as measured by the S&P 500 Index, is up 12 percent so far this year, its best first-quarter rally since 1998. But small investors are missing the party.
They have been yanking […]