American Morning

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December 13th, 2011
11:01 AM ET

Corzine set to testify before Senate about MF Global collapse – Sen. Stabenow on questions she wants answered

Former New Jersey Senator and Governor Jon Corzine will once again testify today before lawmakers about MF Global's collapse. As the 8th largest bankruptcy in U.S. history, the firm's collapse is having a major affect on both wall street big shots and small mid-western farmers alike. 

A number of farmers had accounts with MF Global, which is primarily a commodities derivitaves firm. Farmers used those accounts to buy and sell futures contracts to lock in prices for hogs, corn and soy beans. But now those accounts are frozen, and a lot of those farmers are having to put off buying seed, land and equipment.

Today on American Morning, Michigan Senator Debbie Stabenow tells Ali Velshi and Christine Romans what questions she's planning on asking Corzine and other top MF Global executives.


Filed under: Business
December 7th, 2011
08:56 AM ET

AM Mind Your Business for December 7, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

*Treasury Secretary Tim Geithner's three day European whirlwind takes him to Paris this morning. Geithner is meeting some more of his European counterparts. Geithner says he's confident that EU leaders will be successful in negotiations to tackle the debt crisis in the region.

*Banking giant Citigroup is planning to lay off 4,500 employees over the next few months. CEO Vikram Pandit says the cuts are needed to cut costs with this weak economy. Citi will also take a $400 million charge in the fourth quarter to cover the severance and other costs related to the downsizing.

*A new credit report is digging deeper into your financial history. A company called Corelogic has introduced a new credit file based on its massive database of information that includes whether you've paid your rent or utility and cell phone bills on time. This is information that's not currently considered by credit bureaus. Bottom line for you – if you make payments on time, every time, your credit score will work for you and not against you.

*For a second year in a row, consumer reports says AT&T is america's worst mobile carrier. Oregon-based consumer cellular got the highest marks. AT&T says its "committed to getting better and better."

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Business
December 5th, 2011
07:25 AM ET

AM Minding Your Business for Dec. 5, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

*European Markets are up overnight after Italy's new prime minister Mario Monti unveiled new austerity measures. Italian borrowing costs are falling this morning – a sign of confidence from investors that the country is moving in the right direction to balance its budget.

*Brent crude prices are above $110 dollars a barrel this morning. Brent crude is the type of oil that most use in Europe. It would take a big hit if the region decides to slap Iran with oil sanctions because of the country's nuclear aspirations.

*Gas prices are down nine cents in the past two weeks, despite an increase in crude oil prices. The weekly Lundberg Survey says the drop is because of lower demand due to hard economic conditions. The average price for regular gas is currently $3.29 per gallon.

*The latest Twilight movie -Breaking Dawn, Part I – had another big weekend at the box office. After topping sales for the third weekend in a row, the vampire movie has now brought in more than $247 million dollars so far in the U.S.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


Filed under: Business • Minding Your Business
November 1st, 2011
01:07 PM ET

Corzine's MF Global files for bankruptcy – how will markets react?

MF Global, a financial firm run by former New Jersey governor Jon Corzine, has filed for bankruptcy. The firm filed for Chapter 11 after bad bets on Europe helped to put the company $39.7 billion in debt.

Also, according to government agencies, the company may have millions of dollars missing from its balance sheets.

This morning on American Morning, Bloomberg View contributor and author of "Money and Power: How Goldman Sachs Came to Rule the World" William Cohan explains how Corzine has a history of making bad bets and what this could mean for global markets.


Filed under: Business • Global markets
October 7th, 2011
07:29 AM ET

Jobs that are in high demand, despite the struggling economy

The jobs report for September will be released at 8:30am this morning. Right now, 14 million Americans are out of work.

If you're one of those 14 million, you might be thinking "Where can I find a job? What industries are hiring?"

There are 3 million jobs open right now. Here's a look at seven jobs that are in high demand even in this stagnant economy.

Retail workers
Retailers are looking to hire about 500,000 temporary workers with the holidays coming up, according to the National Retail Federation. And the major chains often hire these temp workers full-time after the holidays.

Commercial truck drivers
If you can pass the commercial license test, you can drive a truck. Your license will depend on the class of vehicle you know how to drive.

Industrial engineer
Sounds hard – and it is. Electrical and manufacturing companies are fighting tooth-and-nail for people with these skills.
These are people who can look at the manufacturing process at a car factory, for example, and figure out ways to stream-line things or increase efficiency. Online job postings are up 28% in the past 4 months, according to Monster.com.

Software engineer
If you know how to write software, build a mobile app or code a website, chances are you're going to be able to find work. The U.S. Labor Department expects very strong growth in this sector in the next few years.

Registered nurse
With so many aging baby boomers getting older and needing medical care, the U.S. Labor Department expects the need for registered nurses to grow by about 22% in the next six years.

Professional cook
We're talking a top-chef type. Professional cooks are hot commodities at hotels and restaurants, often swept up by competition at the drop of a hat. So there are constant jobs opening in this sector.

Accountant
Even though there are tons of people graduating from business school with degrees in accounting, these jobs are still hard to fill because they're often very specific for each state and industry. Monster.com says online job postings for these jobs are up 12% in the past few months.

For more information on these industries and job openings go to CNNMONEY.com.


Filed under: Business • Economy • Jobs
September 21st, 2011
03:35 PM ET

Can Netflix rebound after splitting into two divisions? A marketing expert weighs in

After raising the prices for their services by sixty percent earlier in the year, Netflix announced yesterday that it will be splitting into two divisions, Netflix and Qwikster, and they are receiving a lot of flack for the decision.

The company's CEO Reed Hastings released a statement Monday apologizing to his customers saying, "It is clear from the feedback over the past two months that many members felt we lacked respect and humility in the way we announced the separation of DVD and streaming, and the price changes."

Today on American Morning, Christine Romans talks to Adam Hanft, CEO of the marketing firm Hanft Projects, about Netflix's business decisions and how the brand is going to rebound.


Filed under: Business
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