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Posted in Finance at 8:35 am by Dr. Roy Schestowitz
Bitcoin
Singapore Shopping Mall Debuts Bitcoin ATM, Draws Impressive QueueBitcoin ATMs coming to the U.S.Bitcoin, the emerging if still somewhat mysterious digital currency, may be coming soon to a high-tech ATM near you.Kiosks that allow people to buy the virtual coins, or exchange them for cash, will be installed within the next month or so in Seattle and Austin, Texas, according to Robocoin, the Las Vegas-based company that makes the machines.Bitcoin: It’s the platform, not the currency, stupid!Bitcoin is big news again. The digital cryptocurrency is on the frontpage of every major newspaper. This week its price collapsed because the largest exchange on the network did not handle a known design flaw in bitcoin properly, which caused widespread disruption and possibly some loss of bitcoin. As a precaution, several exchanges had to close their virtual doors till further notice.Gox Goes Belly-up After Losing A Billion Dollars Without Noticing; Blames Fault In Corporate Bookkeeping ProtocolMt Gox Bitcoin fallout is small change in a big industryMtGox CEO speaks out as Japanese regulators discuss interventionThe Gox Crater: Crowd Detectives Reveal Billion-Dollar Heist As Inside JobFeb 28 11:27 – A class action lawsuit has been filed that sues Mark Karpeles, MtGox Inc (US), MtGox KK (JP), and Tibanne KK (JP) for pretty much all of the above.
US
Could Wal-Mart Be the Next Giant Failure in Retail?What’s worth keeping an eye on is whether the Sam’s Club layoffs are a symptom of much larger problems at Wal-Mart. The company has been a giant of retail for decades, but there are signs that its reign is coming to an end. The Business Plan Of Wal-Mart RevealedWal-Mart (WMT) reported today and by now, most people who follow the stock are aware of the highlights: EPS before special items, at $1.60, beat estimates by a penny; revenues fell short of estimates; same-store sales and traffic fell. New York abandons plan to clear subways of sleeping homeless peopleA plan to clear homeless people from New York City subway trains in a pre-dawn Monday operation by police and transportation officials was abandoned amid pressure from campaigners.Dozens of homeless men and women sleeping on the seats of E line trains as they rolled into the World Trade Center terminal in the early hours were left alone, despite warnings that they would be asked to leave so cars could be cleaned.“It was postponed,” Kevin Ortiz, a spokesman for the Metropolitan Transportation Authority, told the Guardian. “We decided not to go ahead. I can’t give you a specific reason why it was postponed. But it may well take place in the future”.Angry Residents Wave Pitchforks, Torches In Protest Of Mayor’s Crackdown On HomelessnessA group of fired-up activists in Portland, Ore., who were tired of seeing homeless people being mistreated staged the kind of protest that will be difficult for the mayor to ignore.Robert Reich: WhatsApp is everything wrong with the U.S. economyThe instant messaging service connects millions, but its record-breaking sale won’t generate new jobs America’s “We” ProblemAmerica’s wealthy increasingly inhabit a different country from the one “they” inhabit, and America’s less fortunate seem as foreign as do the needy inhabitants of another country. The first step in widening the sphere of “we” is to break down the barriers — not just of race, but also, increasingly, of class, and of geographical segregation by income — that are pushing “we Americans” further and further apart.
UK
Homeless living in shocking, rat-infested conditions, report saysThe formerly homeless are increasingly trapped in homes riddled with damp and infested with rodents after ministers gave councils powers to force those without a roof over their heads into rented accommodation rather than wait for a council house, a report by Britain’s biggest housing charities has found.The US has bullied our banks into handing over a billion dollarsQuietly and without notice, Britain has surrendered control over its trade with Iran
Central Europe
Startup Europe – coming to a city near youOne of the favourite parts of my job is meeting young ICT and web entrepreneurs – who are creating new apps and services that benefit us all. Our Startup Europe programme was designed to support this group – as you can see in my earlier blog post – but it’s also a way of encouraging more young people to get involved and see digital entrepreneurship as a viable career path. These people studied Europe’s app economy: what they found out will leave you totally amazed
AstroTurf
A Portrait of Time Warner’s Active Role in ALECRecords obtained in 2011 from the office of Ohio Rep. John Adams, the ALEC public sector chair for the state, show how he worked closely with ALEC’s Ohio private sector chair, Time Warner Cable lobbyist Ed Kozelek, to raise funds for the national ALEC meeting held in Cincinnati in April 2011.Simpson-Bowles anti-debt group is—pause to laugh—deeply in debt The gig is up for the everyone’s favorite deficit fetishists, Simpson and Bowles. It starts great with the headline: Anti-debt group finds itself in red.Anti-debt group finds itself in redA year and a half after launching with much fanfare, a group affiliated with fiscal watchdogs Erskine Bowles and former Sen. Alan Simpson is nearly broke.
Misc.
That iPhone In Your Pocket? You’d Be Surprised Where The Money Goes When You Buy It.The first part of this clip is about why a lot of the good jobs are gone (hint: it rhymes with whoa-balization), and the second part gets to the point about where things are made and what countries benefit. Economist Robert Reich shows us, and it’s a little … scary.Exposing what lies beneath the bodies of dead bankers and what lies ahead for us
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