Chicago PassionsSport News and Entertainment Updates
Cisco Earnings and Sales Improve
Sales and earnings at Cisco Systems rose from last year and outpaced analysts’ forecasts, as more customers resumed upgrading their networks to handle increasing wireless and Internet traffic.
The leading maker of network equipment expects to hire 2,000 to 3,000 people in the next several quarters, CEO John Chambers said [...]
Backdoor Taxes to Hit Middle Class
The Obama administration’s plan to cut more than $1 trillion from the deficit over the next decade relies heavily on so-called backdoor tax increases that will result in a bigger tax bill for middle-class families.
In the 2010 budget tabled by President Barack Obama on Monday, the White House wants to let [...]
Geithner testimony at House hearing on AIG
GEITHNER ON AIG DISCLOSURES:
“I had no role in making decisions regarding what to disclose about the specific financial terms of Maiden Lane II and Maiden Lane III, and payments to AIGs counterparties.”
GEITHNER ON PAYING PAR VALUE:
“The counterparties held insurance entitling them to full or par value of the contract. We could not [...]
Federal deficit projected at $1.35T
WASHINGTON – The latest congressional budget estimates due Tuesday predict a $1.35 trillion deficit for this year, a top Capitol Hill aide says.
The Congressional Budget Office figures confirm the massive problem facing President Barack Obama and his Democratic allies just days before his Feb. 1 budget submission. The White House [...]
Quad/Graphics Plans to Buy Rival Magazine Printer Worldcolor
Jan. 26 (Bloomberg) — Quad/Graphics Inc., a closely held U.S. printer, agreed to buy Worldcolor Press Inc. of Canada, which prints magazines such as Time and Cosmopolitan.
The merged company, which will be publicly traded, will have 30,000 employees and combined sales of $5.1 billion, based on the figures for the year to last Sept. [...]
