- (
) The Judgment.
Following a nerve-shattering legal battle, Pakistan's Supreme Court has allowed the country's military ruler, General Pervez Musharraf to contest the presidential election in uniform, which is scheduled to be held on October 6."The petitions hereby are dismissed as not maintainable" announced Justice Rana Bhagwandas, the head of the panel of nine judges hearing a string of petitions challenging the re-election of General Musharraf in uniform for next five-year term.
Six of the nine-judge larger bench gave verdict in favor of dismissing the petitions while other three judges, including Justice Rana Bhagwandas, differed.
As soon as the verdict was announced, the lawyers present in the courtroom shouted “shame shame" slogans, and anti-Musharraf slogans, forcing the judges to leave the courtroom in a hurry. More>>
- (
) Keep On Truckin’
Conventional wisdom says the only way to invest in transportation these days is via the railroads. With Berkshire Hathaway buying Burlington Northern (BNI) shares by the trainload, who am I to argue? Warren Buffett obviously sees railroads as a “toll bridge". There are only a handful of competitors and a host of nearly captive customers. If you want to ship coal, you'll need a railroad and the choices are limited.By contrast, the trucking industry is an extremely fragmented industry. Customers have almost unlimited choices from large integrated carriers to a guy in a pickup. The industry has often been characterized by excess capacity and irrational pricing. Let's not forget that rising fuel costs disproportionately penalize truckers. Combine that with worries about the global economy and you have an industry that investors avoid. More>>
- (
) Mortgage mess means expansion for debt-consolidation firm
The downturn in the mortgage industry has made it easier for a California-based debt-resolution firm to rapidly expand its Tempe operation. Freedom Financial Network provides consumer finance education and debt resolution services nationally. Its sales and marketing, and consumer finance consultations take place in its Tempe office, at 4545 S. Wendler Drive. �The Tempe center has evolved into the linchpin of our business,� said Brad Stroh, co-CEO of Freedom Financial. �We have over 60 employees there today and the plan is to grow it to 150 or more employees within the next 12 months.� The Tempe office opened in spring 2006 with just four employees. Business is booming because consumer debt is at an all-time high and more people than ever need help managing their debt, he said. �One thousand or more people a day are requesting our services and a free consultation,� Stroh said. More>> - (
) Why the Cost of College Won't Drop Anytime Soon: John F. Wasik
Sept. 17 (Bloomberg) -- When Congress passed an overhaul of federal college aid recently, Democratic leaders crowed that the legislation was like the GI bill, which guaranteed free education for soldiers returning from World War II.Bronx cheer. Sorry, it's not even close.
The bill expected to be signed by U.S. President George W. Bush will do little to curb the cost of college, which will continue to outpace the consumer inflation rate.
While the new law will increase aid to low-income students, give a break for students pursuing public service and reduce subsidized federal-loan rates over time, it won't mandate that any colleges rein in their costs. Nor will the government help colleges with higher expenses for utilities, salaries and buildings. More>>
- (
) Customer Service
PARIS - France is bankrupt, the country's prime minister says, .The head of the European Central Bank, Frenchman Jean-Claude Trichet, is no less damning, scolding his nation as Europe's "No. 1 spender."
That the country has been living beyond its means is hardly news - the last time France balanced its books was 1974. But now, President Nicolas Sarkozy's government insists, the extravagant spending has to stop.
As eyes turn toward his first budget, to be announced Wednesday, economists predict the job of righting the country's finances may be more difficult than the president expects.
"The French have got their work cut out," said James Nixon, an economist with Societe Generale in London.
"What we are seeing is political manoeuvring to prepare French people for what's necessarily going to be a tighter budget than the French government anticipated."
Prime Minister Francois Fillon's controversial statement last week that France is "in a state of bankruptcy" was followed Monday by warnings that the country's public finances are in a "critical state."
Ahead of the overall budget announcement, the social security budget was unveiled Monday, showing a record deficit for 2007 of around 12 billion euros (US$16.7 billion) instead of the eight billion euros ($11.1 billion) previously forecast. More>>