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Pinnacle Financial Partners reveals 2Q charge

May 3, 2009 2:30 pm | by The Associated Press | News | Comments

NASHVILLE, Tenn. (AP) — Pinnacle Financial Partners Inc. said Saturday it will take a charge of $21.6 million in the second quarter to account for a loan to a bank holding company whose banking unit has been placed in receivership.The name of the entity put in receivership by the Office of the...

Oldest US nuclear plant resumes normal operations

May 3, 2009 1:49 pm | by The Associated Press | News | Comments

LACEY TOWNSHIP, N.J. (AP) — Normal operations have resumed at the nation's oldest nuclear power plant a week after it was shut down because of a failed transformer.Officials at the Oyster Creek Nuclear Generating Station in New Jersey had manually stopped its reactor without incident April 25....

Buffett and Munger share lessons of turmoil

May 3, 2009 1:19 pm | by JOSH FUNK - AP Business Writer - Associated Press | News | Comments

OMAHA, Neb. (AP) — Billionaires Warren Buffett and Charlie Munger said Sunday the most important lessons of the recent financial turmoil are that companies should borrow less and build a system that imposes severe disincentives for failure.Berkshire Hathaway Inc.'s top two executives offered that...

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Buffett says most banks are not too big to fail

May 3, 2009 12:19 pm | by JOSH FUNK - AP Business Writer - Associated Press | News | Comments

OMAHA, Neb. (AP) — Billionaire Warren Buffett says most of the banks the U.S. government is evaluating with stress tests are not too big to fail.Buffett says he's not sure how the government will handle the situation when the results of the stress tests are released, but he doesn't think the...

Bank stress test results to try market's advance

May 3, 2009 11:13 am | by SARA LEPRO - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — A week laden with key economic reports and results of stress tests on banks will determine whether Wall Street is ready to rally further or take a sharp U-turn.The government's assessment of the health of 19 big banks plus April employment data and retail sales reports will be the...

Some sticking with Chrysler, others skeptical

May 3, 2009 11:03 am | by JOHN PORRETTO - AP Business Writer - Associated Press | News | Comments

HOUSTON (AP) — The stalwart. The bargain-hunter. The skeptic.As Chrysler dealers across America try to sell vehicles with the auto manufacturer in bankruptcy, they're meeting different types of customers: loyalists who aren't fazed by the troubles, those simply seeking the best deal in a bad...

Fiat CEO aiming to create global auto powerhouse

May 3, 2009 10:47 am | by NICOLE WINFIELD - Associated Press Writers - Associated Press | News | Comments

ROME (AP) — Fiat Group SpA will be on the path to becoming a global automotive powerhouse if Chief Executive Sergio Marchionne has his way.Marchionne is set to meet Monday in Berlin with German economic and foreign ministers to discuss Fiat's offer for General Motors Europe's German unit, Opel.Fiat...

Singers tell Congress: Money (That's What I Want)

May 3, 2009 9:17 am | by RYAN NAKASHIMA - AP Business Writer - Associated Press | News | Comments

Jack Ely, the singer whose 1963 version of "Louie Louie" still makes the rounds on oldies radio, lives with his wife in a mobile home on a horse ranch in Oregon. Ely says they share $30,000 a year from her teacher's pension and his Social Security checks. They are paying down a mortgage.So...

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Asia urged to rethink growth policies amid crisis

May 3, 2009 4:04 am | by STEPHEN WRIGHT - AP Business Writer - Associated Press | News | Comments

BALI, Indonesia (AP) — Asia's governments must spend more on social safety nets and reduce their reliance on export-driven growth as they grapple with an economic meltdown that will keep tens of millions trapped in poverty, finance officials said Sunday.Japan, meanwhile, said it will make 6...

Health experts gauge flu outbreak

May 3, 2009 2:43 am | by MARGIE MASON - AP Medical Writer - Associated Press | News | Comments

MEXICO CITY (AP) — Health experts walked a tightrope Sunday, unsure whether the swine flu epidemic was starting to fizzle out or was just in a lull before another surge. Germany reported two more confirmed cases, and Hong Kong kept 350 people under quarantine in a downtown hotel as a...

Job guarantees cause impasse in Globe, union talks

May 2, 2009 11:27 pm | by MELISSA TRUJILLO - Associated Press Writer - Associated Press | News | Comments

BOSTON (AP) — Negotiations between The Boston Globe and its largest union reached an impasse Monday, largely over lifetime job guarantees that the 137-year-old newspaper says it has to end if it will survive.The newspaper's owner, the New York Times Co., struck agreements with six of seven unions...

Berkshire's top execs share wit with shareholders

May 2, 2009 1:32 pm | by The Associated Press | News | Comments

Berkshire Hathaway chairman and CEO Warren Buffett and vice chairman Charlie Munger spent more than five hours Saturday answering questions from shareholders.Here is a sample of their wit and wisdom on a variety of topics:___NEWSPAPERS' DWINDLING VALUEBerkshire owns the Buffalo News and it has a...

Last-ditch Chrysler talks fail to sway creditors

May 2, 2009 10:50 am | by STEPHEN MANNING - AP Business Writer - Associated Press | News | Comments

WASHINGTON (AP) — With time running out for Chrysler, President Barack Obama's auto industry task force made one last try Wednesday afternoon to keep the nation's third-largest automaker out of bankruptcy court.From an office in a corner of the Treasury Department basement, an offer was sent at 4...

Buffett offers preview of 1Q Berkshire earnings

May 2, 2009 10:45 am | by JOSH FUNK - AP Business Writer - Associated Press | News | Comments

OMAHA, Neb. (AP) — Warren Buffett says his holding company, Berkshire Hathaway Inc., will report a roughly 10 percent drop in its first-quarter operating profit next week.Buffett offered a glimpse of Berkshire's first-quarter earnings during the company's shareholders' meeting on Saturday. But the...

First quarter shows hint of recovery

May 2, 2009 10:35 am | by SARAH SKIDMORE - AP Business Writer - Associated Press | News | Comments

PORTLAND, Ore. (AP) — First-quarter earnings so far from across the market are coming in better than expected — largely as a result of a very low bar.The results have some people now uttering economic buzzwords like "deceleration," ''signs of recovery," ''the bottom" and the very precise "less...

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