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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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The Frankfurt school, part 8: where do we go from here? | Peter Thompson

Category : Business

Our current state of economic dislocation and rise of the far right mirrors the school’s two periods. We must overcome with reason

The final question for this series is whether any of the issues brought up by the Frankfurt school still have any currency or importance. There are two distinct periods in the work of the Frankfurt school. On the one hand there is the attempt to explain and understand fascism as it was arising during the Weimar Republic. This was a period of social, economic and political dislocation that brought to the fore very real material concerns on the part of workers that could easily be channelled into a traditional search for scapegoats and simple explanations. During this period, however, there continued to exist a powerful workers’ movement in the form of social democracy and communism which, had it been able to overcome the timidity of the former and the strategic incompetence of the latter, could have functioned as a bulwark against the rise of the extreme right.

The second period is that of the postwar years, in which there was a social consensus that was formed under the umbrella of the cold war and rising prosperity (what the French call Les Trente Glorieuses) and in which it was declared that class and class struggle had come to an end. Frankfurt school theories about commodification, alienation, reification and false consciousness were revived by the 1968 movement as a way of explaining away the apparent passivity of the working class. Indeed, it was during this period that the working class began to be seen as part of the problem rather than the solution. The forward march of labour was halted, social democratic and communist parties accommodated to the new consensus and, as the philosopher André Gorz had it, it was “farewell to the working class”.

Since the mid-70s, however, we have again been living in a different world in which the automatic prosperity and growth of the postwar decades have disappeared. Real wages have fallen at the same time that productivity has risen, thereby transferring unimaginable wealth to the richest in society. Estimates of how much money is stashed in offshore accounts vary between $12 and $32tn – enough wealth to wipe out almost all the social problems of poverty in one fell swoop were it to be confiscated, socially invested and redistributed.

The problem now is that the two original periods that characterised the battleground for the Frankfurt school exist at one and the same time. We have the economic dislocation of the Weimar period with rates of unemployment in Europe rising constantly (Spain, for example, has reached over 50% youth unemployment), which is feeding into a rise of neo-fascist and rightwing parties from Golden Dawn to Ukip. At the same time there is a supine centre-left which is tied into the neoliberal agenda, while a fractured and fragmented “communist” movement (for want of a better word) has failed to put together a convincing alternative.

The great recession since 2008 has stripped away a lot of the illusions people have about the society they live in. When a government needs to proclaim that “we are all in this together”, then it is clear what the true subtext actually is.

But perhaps even more seriously, the planet itself can no longer afford the constant expansion required by capital. We have the technological and financial means to solve pretty well all of the basic problems of humanity. What we don’t have is the political will. But that is only missing because even our hopes for the future have become privatised and commodified. Our dreams have been bought up and sold back to us as glittery tat and royal weddings. It has often been said that it is easier now to imagine the end of the world than it is to imagine a better one.

But this was true at the start of the Frankfurt school. Theodor Adorno wrote:

“The prospective fascist may long for the destruction of himself no less than for that of the adversaries, destruction being a substitute for his deepest and most inhibited desires … He realises that his solution is no solution, that in the long run it is doomed. Any keen observer could notice this feeling in Nazi Germany before the war broke out. Hopelessness seeks a desperate way out. Annihilation is the psychological substitute for the millennium – a day when the difference between the ego and the others, between poor and rich, between powerful and impotent, will be submerged in one great inarticulate unity. If no hope of true solidarity is held out to the masses, they may desperately stick to this negative substitute.”

That loss of hope and optimism about a better world is the most depressing outcome of the current crisis and it is no wonder that many seek refuge in the false nostalgia of an unspoiled world before the ravages of capitalism prompted “all that is solid to melt into air“.

But there is no way back, not least because the golden age never existed and the golden dawn will never come. The only way is to push forward using science, reason, intelligence and hope. Weak power may be good enough for now but at some point someone is going to have to flex muscle. Let’s make sure that it is the good guys and not the fascists again.

Kings Ford Inc. Helps Make-A-Wish Foundation to Successfully Raise Money Through Their Local Golf Tournament to Help Children’s Dreams Come True

Category : Stocks, World News

CINCINNATI, OH–(Marketwired – Apr 5, 2013) – At the Kings Ford Dealership in Cincinnati, OH, it isn’t all about just selling new and used cars in Cincinnati. It’s about community and helping others. Back in 2009, Bob Creed Jr., Director of Innovations & Technology at Kings Ford, took a simple idea and ran with it by turning it into an opportunity to make the wishes of children with life-threatening illnesses come true. With the aid of the Make-A-Wish Foundation, Bob and the rest of the team at Kings Ford were able to do just that. After brainstorming with family, friends, clients and coworkers, Bob landed upon the idea of gathering together everyone he knew personally and in his customer database that played golf to coordinate a sponsored event to benefit these kids and their families to make their wishes come true by putting together a charity event golf tournament. The outing has grown substantially year after year with a lot more individual donations and golfers, thanks to the help of volunteers and the support of Fairfield Green Golf Course, and to date they have raised over $43,000 and will be sponsoring two children in 2013.

The rest is here: Kings Ford Inc. Helps Make-A-Wish Foundation to Successfully Raise Money Through Their Local Golf Tournament to Help Children’s Dreams Come True

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Gross: What if the good times end?

Category : Business

Pimco bond guru Bill Gross said he and other big name investors rode the credit wave to success but a true test of greatness is adapting to change.

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Icahn right about Time Warner…7 years later

Category : Business

Seven years ago, activist investor Carl Icahn spelled out a blueprint for breaking up Time Warner into four separate entities. His prediction is finally coming true.

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Audience Sets New Standard for Mobile Voice Quality With Latest earSmart eS325 Advanced Voice Processor

Category : Stocks

Expected to Ship in Devices Within 60 Days, Audience earSmart eS325 Delivers HD Voice, Optimized Speech Recognition, True Three Microphone Support and More

Continued here: Audience Sets New Standard for Mobile Voice Quality With Latest earSmart eS325 Advanced Voice Processor

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Riverstone Resources Inc. (RVREF: OTC Link) | Company Name Change

Category : Stocks

Mon, Feb 25, 2013 12:00 – Riverstone Resources Inc. (RVREF: OTC Link) – Company Name Change – Riverstone Resources Inc. has changed its name to True Gold Mining Inc. The change goes into effect as of Mon, Feb 25, 2013. You may find a complete list of company name changes at otcmarkets.com.

Follow this link: Riverstone Resources Inc. (RVREF: OTC Link) | Company Name Change

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3 lessons for Apple’s shareholders

Category : Business, Stocks

The recent swings in Apple stock prove that a few simple rules of investing always hold true.

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Offshore secrets: government refuses to act on disclosures

Category : Business

UK Land Registry allows buyers to conceal identities by recording anonymous offshore entity as the purchaser

Offshore owners of British houses and office blocks are to continue to be allowed to conceal their identities, the business department has said. A spokesman said the coalition government wanted to “encourage foreign investment”.

The BIS department, headed by Vince Cable, has refused to act on disclosures by the Guardian’s Offshore Secrets series this week, that the price of housing is being driven up in London by thousands of secret buyers, some from controversial regimes. The UK Land Registry, part of BIS, allows buyers to conceal their identities by recording an anonymous British Virgin Islands offshore entity as the purchaser, often incorporated purely to disguise the true ownership.

A BIS spokesman said: “The UK encourages foreign investment and has no plans to stop overseas companies from registering as owners of property with the Land Registry.”

Cable has, though, ordered an inquiry into one aspect of the Guardian’s disclosures, that a small group of largely British sham directors are helping the offshore company owners conceal their identities by selling their names for use on legal documents. But he is refusing to order a halt to growing anonymity of Britain’s supposedly public land registry records.

The BIS statement said: “Our review will be looking at the legal framework and its enforcement as it applies to company directors, in order to tackle those who seek to abuse UK law. At present, it will not focus on the ability of offshore companies to purchase property in the UK.”

The present government’s predecessors, the Labour administration of Tony Blair, were also persuaded to reject recommendations for transparency made in a 2001 report by Treasury official Andrew Edwards. The Edwards report said: “If public policy emphasises privacy above transparency, the greatest beneficiaries are likely to be criminals.”

His report said a truthful land register would be “invaluable for law enforcement, regulatory and tax authorities”, would “deter the unscrupulous from putting the proceeds of crime into property assets” and would be “helpful in tracing bankrupt persons and combating mortgage fraud”.

This year campaigners Global Witness renewed the call for offshore ownerships to be revealed, saying the British secrecy system could conceal the looting of assets from countries in Africa and Asia. “Keeping information about who owns and controls companies secret makes life easy for the world’s criminals,” said campaigner Rosie Sharpe. “What’s needed are public registries of the true, beneficial owners of companies … the UK’s Department for Business, Innovation and Skills should ensure that UK companies cannot be abused by the world’s criminals.”

Conrad Black, have I got news for you – you haven’t discharged your sins | Henry Porter

Category : Business

The disgraced press baron’s complete lack of contrition should debar his re-entry into decent society

Conrad Black’s appearance on Have I Got News For You won’t do anything to rehabilitate the reputation of an unrepentant fraudster, but it will allow him to show that he at least believes he has nothing to be ashamed of and that he can re-enter British society with his head held high.

To that degree, the invitation serves Black’s purpose very well. He can flaunt his shamelessness and then repair to the various exclusive dinner parties being held to welcome Mr and Mrs Black to London. (In this column, at least, he has been stripped of his title, though in reality he is Baron Black of Crossharbour, PC, Knight Commander of the Order of St Gregory the Great and, weirdly indeed, still a member of the British legislature.)

Despite spending more than three years in Florida jails, the humiliation of being deported on his release last May from the United States – probably never to return – and having to appeal against being stripped of the Order of Canada, Black’s hubris and sense of entitlement remain astonishingly unimpaired. With this record, most people wouldn’t entertain an appearance on the TV programme, but his character is incapable of contrition and is immunised against mockery. In his own mind, he still fits Boris Johnson’s assessment: “An obvious man of destiny, not least because he exudes a sense of purpose, drive and ambition.”

So, the show will be an object lesson in the sorts of traits that propel one of the dodgiest outsiders to have run British newspapers over the last 50 years and forced their agendas on our national life. But that is the only marginal gain. It may be good television to watch him being baited, but the show’s producer, Hat Trick Productions, is wrong to give him the platform because in some way it does endorse his denial of grave criminality. This seems particularly true after the show’s long-running host Angus Deayton was sacked because of misbehaviour that pales in comparison to Black’s.

When someone has served a prison sentence, it is right that society allows redemption and degrees of forgiveness. Jonathan Aitken and Jeffrey Archer have both acted with discretion and some humility since leaving prison and people have been rightly willing to overlook their convictions.

But Black is a different story. Lest the producers or, indeed, any of the society hostesses in a flutter at the idea of Conrad and Barbara’s return need reminding of his crimes, they have only to read last week’s judgment in a US Federal. Judge William Hart wrote: “Black’s violations of the securities laws in the case occurred over two years, part of a wide-ranging fraud. Black has advanced no reason to believe that he now has any respect for the securities laws or any regret for the losses or costs his violations have caused. He is intransigent in his denunciation of the courts and the justice system.” The former newspaper baron, who once presided over the Daily Telegraph, the Chicago Sun-Times, the Jerusalem Post and many smaller titles, must now pay Sun-Times Media – what was once Hollinger – $3.8m plus $2.3m interest.

It’s important that Judge Hart added the $2.3m interest penalty because of Black’s refusal to admit responsibility. Black may have had significant parts of his original conviction overturned on appeal, but it’s still true that he stole $6.1m of shareholders’ money in transactions disguised as management fees.Tom Bower’s excellent book, Conrad and Lady Black: Dancing on the Edge, makes clear that other people’s money was spent on a billionaire lifestyle for himself and his columnist wife, Barbara Amiel, when Black was only ever in the multimillionaire class.

Facing exposure, he tried to cover up by removing files from his offices, but failed to notice the gaze of a CCTV camera. As one investor said to him in a tense meeting before his downfall: “I’ve been listening to what my distinguished colleagues have been saying. They’re trying to be polite but what they’re saying is that they consider you a thief and I can’t say that I disagree with that.” That judgment remains true today. It ought to be said that Black is consistent in his belief that the crimes of rich businessmen should be subject to special understanding and leniency.

In 1991, when Gerald Ronson, one of the Guinness Four, was released from jail early and found himself being presented to the Queen Mother at a charity do, I was asked to write about this swift rehabilitation in the Daily Telegraph. Conrad Black exploded when he read what was a very critical article and demanded that the then editor, Max Hastings, provide space for him to denounce my column. At Hastings’s suggestion, he settled for a letter of complaint to his own paper.

I suppose he was being open about the interference and it is true to say that in the early years he ran the Telegraph group well, but the incident was symbolic of a robber baron mentality that was to end in his imprisonment. I have little doubt that it is has as much to do with politics as morals, or at least his journey to the wilder regions of conservatism, made hand in hand with his fiercely rightwing and hyper-materialist wife. This allowed him to think that he was entitled to that money because they were who they were and they were right on just about everything, from their support of Israel to the championing of Iain Duncan Smith.

It is clear that the Blacks still have a great love, but it was expressed in an autoerotic neo-conservatism that allowed them to behave as they did – a narcissistic entitlement that generally prompted uncritical adoration in the circles they moved in. Lady Thatcher and Lord Carrington were his sponsors when he was made a peer; politicians fawned at his annual summer party; Conrad and Barbara ruled. Only Andrew Neil asked the press magnate if he might not be in contravention of the 2002 Sarbanes-Oxley Act, which insists on enhanced accounting procedures in US public companies; Neil was fobbed off.

None of this would be necessary to say if Black accepted that he was guilty of taking shareholders’ and creditors’ money; after all, he suffered a shocking downfall and imprisonment.

But he doesn’t accept he was wrong and instead he takes to the pulpit of various blogs, with that snowplough of a literary style, to lecture us about the themes of the day, the sweep of history and men of destiny. For him, the theft of $6.1m is still evidently the trifling obsession of pygmies.

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Why low volume actually is bullish, according to Ryan Detrick: Total-dollar volume is higher now than in the 2003-07 bull market, so how can bears say lower share volume is bearish? "As long as volume stays low and bears use it as ammunition for…

Category : Stocks

Why low volume actually is bullish, according to Ryan Detrick: Total-dollar volume is higher now than in the 2003-07 bull market, so how can bears say lower share volume is bearish? “As long as volume stays low and bears use it as ammunition for lower prices, just smile and nod your head, knowing this isn’t true.” 32 comments!

View original post here: Why low volume actually is bullish, according to Ryan Detrick: Total-dollar volume is higher now than in the 2003-07 bull market, so how can bears say lower share volume is bearish? "As long as volume stays low and bears use it as ammunition for…

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