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Nov 1, 2011

nyt Breaking News Alert: Cain Accuser Got a Year's Salary in Severance Pay

Breaking News Alert
The New York Times
Tuesday, November 1, 2011 -- 10:04 PM EDT

Cain Accuser Got a Year’s Salary in Severance Pay

The National Restaurant Association gave $35,000 — a year’s salary — in severance pay to a female staff member in the late 1990s after an encounter with Herman Cain, its chief executive at the time, made her uncomfortable working there, three people with direct knowledge of the payment said on Tuesday.

The woman was one of two whose accusations of sexual harassment by Mr. Cain, now a Republican candidate for president, led to paid severance agreements during his 1996-99 tenure as the association’s chief. Disclosure of the cases has rocked Mr. Cain’s campaign just as he was surging in polls.

Further challenging Mr. Cain, a lawyer for the second woman called on the restaurant association to release her from a confidentiality agreement signed as part of her settlement, raising the prospect that she could publicly dispute Mr. Cain’s account of what happened.

Read More:

Stocks & Markets in the News | AsiaN: Asian Markets Snapshot

Stocks & Markets in the News

Data delayed at least 15 minutes 11/01/2011 10:20 PM ET

Markets »

Hang Seng19,061.71–308.25–1.59%
All Ordinaries4,240.90–56.31–1.31%
NSE 505,257.95–68.65–1.29%

Smartcompany News and Analysis: ATO debt from insolvent companies soars, Retail and property sectors welcome rate relief, Food group collapses, ACCC helps with retail tenancy code

smart company logo image

Today on SmartCompany we look at the sharp rise in the level of debt owed to the ATO by insolvent companies and individuals. It’s jumped almost 36% to $5.3 billion and if today’s report into the collapse of an Adelaide manufacturer is any indication, it’s unlikely to fall soon. We also look at the reaction to yesterday’s rate cut – as James Thomson says in Entrepreneur Watch, the question is whether it will be enough to spur confidence – and talk to COSBOA’s Peter Strong about his radical idea to carve SMEs out of the Fair Work Act.

Plus don’t miss our new free eBook, Secrets of the Smart50 – 20 Tips on growth, management and marketing. You will find some great advice from the leaders of the fastest-growing SMEs in Australia.

For all this and more, head to our home page.

Lunch with an Entrepreneur
Food for thought
Food for Health founder Narelle Plapp outlines her plans to export not just to expats in Asia but North America at well. BY MADELEINE HEFFERNAN.
Narelle Plapp

Industry Trends
Advertising in the digital age
Advertising agencies are now diversifying their services to meet the challenges of new media.

Aunty B
My mentor has quit my board. Now what?
Congratulations! Really! This is marvellous. You have got rid of him! And he chose to go. You didn't even have to sack him, which would have been a lot harder.
Aunty B

Profitable growth
Julia Bickerstaff
A good place to start is to articulate why you want an advisory board.
Julia Bickerstaff

Digital Bottom Line
Brendan Lewis
I have captured my learnings on how good governance can be undermined.
Brendan Lewis

Property Investor
Michael Yardney
If you want to grow your financial wealth you need to get a foot on the property ladder - and there is enough to go around.
Michael Yardney

Entrepreneur Watch
James Thomson
The RBA’s rate cut was much needed, but certainty in Europe is still crucial.
James Thomson

Greek Cabinet backs decision on referendum, AP reports: Economy / Business News Alert | The Washington Post

Economy & Business Takeover 160x601
The Washington Post Tuesday, November 1, 2011 9:23:22 PM

Greece’s government spokesman says a marathon Cabinet meeting has concluded with ministers expressing unanimous support for Prime Minister George Papandreou’s surprise decision to call for a referendum on a hard-won European plan to rescue the Greek economy, the Associated Press reports.

Papandreou’s referendum announcement was strongly criticized across Europe and caused stock markets around the world to plunge.

Greek Cabinet backs decision on referendum, AP reports

Read more at:

MarketWatch | Personal Finance Daily: Don't be fooled: Banks are going to make you pay


Personal Finance Daily
NOVEMBER 01, 2011

Don't be fooled: Banks are going to make you pay

By MarketWatch

Don't miss these top stories:

The good news first: You're unlikely, at least for now, to face a fee for using your bank debit card to make purchases. All the big banks have now backtracked on their plans to levy such fees. The bad news: Banks are always looking for ways to generate fees from you, their customer.

Read Jennifer Waters's column to find out what to expect in terms of new fees and charges at your bank. Plus, read our story on how to invest your money so it lasts in retirement. Our contributor, Larry Katz, took a hypothetical portfolio and looked at how various withdrawal rates affected it. His findings offer some useful guidelines about how to invest for your future.

Andrea Coombes , Personal Finance editor

B. of A. cuts debit fee, but new bank fees likely ahead

All the banks have backtracked on their plans to charge you to use debit cards to spend your own money. But the banks will find ways to recoup the estimated $6.6 billion in revenues lost to the new law that caps fees on debit-card transactions.
Read more: B. of A. cuts debit fee, but new bank fees likely ahead.

How to invest so your money lasts in retirement

Many people worry about whether their savings will last for their entire retirement. Larry Katz, director of research at Merriman Inc., a Seattle-based financial advisory firm, runs the numbers to assess the asset allocation and portfolio withdrawal rates that are likeliest to stand the test of time.
Read more: How to invest so your money lasts in retirement.

Feds to help borrowers prove foreclosure errors

Those who were foreclosed upon in 2009 and 2010 will be able to request an independent review to get compensated if errors were made, federal regulators said.
Read more: Feds to help borrowers prove foreclosure errors.

Demographics and the stock market

How much should investors worry that the baby boomers' retirement will lead to an abnormal amount of selling pressure on the U.S. stock market?
Read more: Demographics and the stock market.

Three ETFs for contrarians

There are ways to play against the fears of a double-dip.
Read more: Three ETFs for contrarians.

Where to harvest stock market profits

The stock market turned in an extraordinary October, one of the best on record. Even if it weren't that time of year when we are evolutionarily predisposed to be thinking about what to harvest, now would be a good time to see which stocks might be overvalued or just simply gotten a bit ahead of themselves.
Read more: Where to harvest stock market profits.


Ask your question to Bernanke

Leave your question to Federal Reserve Chairman Ben Bernanke, and MarketWatch will try to ask it during Wednesday's press conference.
Read more: Ask your question to Bernanke.

Fiscal experts sternly warn supercommittee

The heads of high-profile deficit-cutting commissions on Tuesday urged the congressional supercommittee to aim high just weeks ahead of its deadline, saying failure to reach an agreement about shrinking the U.S. debt could result in another ratings-agency downgrade.
Read more: Fiscal experts sternly warn supercommittee.

Bank of America backtracks on fees

Get ready to lock down your wallet, read fine print and watch your bank statements like a hawk, writes Chuck Jaffe.
Read more: Bank of America backtracks on fees.

Rich class fighting 99%, winning big time

Yes, the rich class is at war with you, with the 99%, a war against America. This class war actually started a generation ago, in 1981 when Ronald Reagan became president. Since then, the rich class has been winners. Big time. And the 99% are the losers. Real big time.
Read more: Rich class fighting 99%, winning big time.

U.S. manufacturing growth slows in October

Growth in the U.S. manufacturing sector decelerated in October as production and inventories declined, according to a closely followed index.
Read more: U.S. manufacturing growth slows in October.

The Australian | Business Briefing: Wall St falls on Greece fears

Wall St falls on Greece fears
Steven Russolillo US stocks tumbled, as Greece's plans for a referendum fuelled worries the eurozone bailout plan might fall apart.
Greek vote rattles markets
William Boston and Costas Paris GREECE'S call for a referendum on a freshly-minted bailout package sparked new concern for the eurozone ahead of key meetings.
MF crash locks out 8000 clients
James Frost AS many as 8000 Australian investors have been hit by the collapse of international prime broker MF Global.
Rate cut may not be enough
Scott Murdoch THE RBA is hoping its first interest rate cut in 31 months will shield the domestic economy from a world slowdown.
BHP go-ahead for $4bn coalmine
Matt Chambers BHP Billiton has approved the $4bn construction of the Caval Ridge coking coalmine in Queensland.
Qantas profit likely to nosedive
Steve Creedy, Aviation writer PASSENGER anger and concern after this weekend's unprecedented Qantas grounding could wipe $54 million from its pre-tax profit.
Soul Patt slams conflict claim
Richard Gluyas TENSIONS between Washington H. Soul Pattinson and major shareholder Perpetual have boiled over.
Wool, grain futures suspended
Andrew Main and Sue Neales THE collapse of MF Global closed down wool and grain futures trading on the old Sydney Futures Exchange.
Financial Markets
Wall St falls on Greece fears
Steven Russolillo US stocks tumbled, as Greece's plans for a referendum fuelled worries the eurozone bailout plan might fall apart.
Oil falls in risk rout
Gold settles above $US1700
Financial Markets Coverage
Mining & Energy
Oil falls in risk rout
David Bird CRUDE oil futures settled 1.1 per cent lower this morning as fresh worries about the possibility of a Greek default shook markets.
Gold settles above $US1700
Copper tumbles as EU fears rise
More Mining & Energy

2011-11-02 08:00:00.0 Nuplex Annual Shareholder Meeting
2011-11-02 07:37:16.0 Wall St falls on Greece fears
2011-11-02 07:36:19.0 Oil falls in risk rout
2011-11-02 07:31:12.0 Women hold less than 20 per cent of key jobs
2011-11-02 07:30:00.0 Today's Calendar of Events
2011-11-02 07:23:17.0 US stocks sink as Europe worries surge
2011-11-02 07:19:10.0 Gold settles above $US1700
2011-11-02 07:17:38.0 Dollar lower amid Greek turmoil fears
2011-11-02 07:16:22.0 Australian sharemarket preview
2011-11-02 07:14:55.0 Copper tumbles as EU fears rise
2011-11-02 07:09:48.0 Greece relights fuse for eurozone, markets
2011-11-02 07:05:30.0 Greek vote rattles markets
2011-11-02 06:29:23.0 LG Electronics outlook downgraded
2011-11-02 05:59:12.0 Yahoo to buy Interclick for $270 million
2011-11-02 04:50:40.0 Merkel, Sarkozy to host meeting on Greece