| The hottest session at Davos is about … sovereign wealth funds?
The global financial meltdown intrudes on the World Economic Forum.Daniel Grossposted Jan. 22, 2008Dear Rich People …All you wealthy Americans, stop complaining and save the economy!Daniel Grossposted Jan. 19, 2008The Good News About the RecessionMaybe it will finally teach Americans how to compete globally.Daniel Grossposted Jan. 16, 2008Ghost MallsIs retail real estate about to crash?Daniel Grossposted Jan. 9, 2008Search for more moneybox articlesSubscribe to the moneybox RSS feedView our complete moneybox archive .
AP Business NewsBrief at 4:11 p.m. EST
WASHINGTON (AP) _ President Bush's chief negotiator on an economic aid deal said Sunday the Senate should quickly get behind a plan or risk drawing the resentment of a frustrated public. The president and House leaders have agreed on a proposal to provide tax rebate checks to 117 million families and give businesses $50 billion in incentives to invest in new plants and equipment. The goal is to help head off a recession and boost consumer confidence. French Bank Says Trader Hacked Computersnews://newsclip.ap.org/D8UEFUI00@news.ap.orgPARIS (AP) _ Societe Generale said Sunday that a trader who evaded all its controls to bet $73.5 billion _ more than the French bank's market worth _ on European markets hacked computers and "combined several fraudulent methods" to cover his tracks, causing billions in losses.
expo center city may pay $300,000 a year subsidy possible
City Manager Phillip Rodenberg and Economic Development Director Kevin Gullette presented the idea to City Council members last night. Council members gave the green light for the proposal to be put on their November agenda. Expo Center owner Tom Ballantine said his facility is generating nearly $700,000 a year in tax revenue for the city, but he's losing money because he faces a disadvantage when he competes with convention centers in other cities. That disadvantage has two causes: Development at Central Park hasn't happened fast enough to provide the hotel rooms and unique attractions that the center needs around it to lure event planners. Most of Fredericksburg's competitors are either publicly built or heavily subsidized, and those governments are willing to give away the cost of renting their facilities to lure convention attendees with money to spend.
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