You can see oil prices pulling back about 27 cents, still just about 89 for wti crude. We will have a live report from our nbc colleagues on the ground in the middle east coming up in the next half hour. Lets talk about some of the main market events of the morning. Actually today fed chairman Ben Bernankes speech at the economics sclub of new york is coming up at 12 15 eastern time. Traders will be listening no any comments on the Central Banks operation twist program and discussions about changing how the fed communicates about Interest Rates. Operation twist expires next month. And there is some speculation the fed will continue making asset purchases by expanding the size of its 40 billion a month quantitate of it easing program. Also on the economic agenda today, october Housing Starts released at 8 30 a. M. Analysts looking for a decline in new building despite a steady stream of positive news on housing lately. Yesterday the National Association of Home Builders said the confide
Billion due to serious improprieties and misrepresentations and disclosure failures that occurred prior to its purchase by Hewlett Packard. In other words, its fraud. After autonomys founder and ceo Michael Lynch was fired by meg whitman, sources close to the company tell me a Senior Executive from autonomy came forward with evidence of widespread accounting misrepresentations that occurred before it was bought by hp. Hp began an investigation and concluded that these accounting improprieties inflated the value by 5. 3 billion. The ceo then relied on audited financials when making a bid to buy the company. Those financials were audited but there were plenty of investors out there who questioned autonomys growth rate. Sources close to the company allege that autonomy pursued a number of avenues to make margins, growth rate and overall value appear far higher than it actually was. The company was selling computer hardware. Desk top computers, its a Software Company at a loss to supplemen
Bridge. Good shape across the wilson bridge as well in alexandria. Advocates for a group of local sanitation workers equal it union busting. They say they are getting fired just because they tried to organize. The company they worked for Delia Goncalves has more. Reporter trash still being picked up in Montgomery County. Officials have county contractors who are working with the company, so your trash will still be picked up. But right now, we can tell you about 50 employees here have taken to the picket line. Our chopper was flying overhead as they were picketing outside of the company here. 50 employees of unity disposal and recycling were picketing. It all started when one employee, they believe, was fired unfairly, following talks with the Company Breaking down. That is when they started to strike. These workers had the full protection of workers strike laws. And shouldnt have been able to be fired from this job. They are county residents, a lot of them, they want to work, they are
Extraordinarily well, but it is not a reflection of america. Stuart they are not bringing that money back to america. Charles let them bring back 400 million. Then we will get a 300 billion stimulus that no one watching this show has to pay for. Stuart well said. Our time is up. It is now time for Dagen Mcdowell and connell mcshane. Connell good morning. Dagen we bring you the comments on spending with. Connell 11 billion. Executives promising a better experience for flyers. Dagen i say bring it. A terrible story comes home to ports. The Carnival Cruise ship will dock today in mobile, alabama. The route has been delayed until this evening. Connell people cannot catch a break. Top of the hour. Stocks now and every 15 minutes. Nicole petallides at the new york Stock Exchange. It is not monday, but there are a lot of mergers to talk about. Nicole the first is in airline deal. It was highly anticipated that u. S. Airways and American Airlines would merge. First lets hit heinz. I am going t
Finance Minister Dr Mohammed Amin Adam has warned that any deviation from implementing the revised Cash Waterfall Mechanism could make the energy sector crisis even worse.