Its just some leather and rubber you know.

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“(Reuters) – General Motors Co <GM.N> will recall 249,260 midsize sport utility vehicles to correct a potential fire hazard, a U.S. government safety agency said.

GM, in a filing with the National Highway Traffic Safety Administration, said the recall affected 2006-2007 Chevrolet Trailblazer and GMC Envoy SUVs, as well as certain 2006-2007 Buick Rainier, Saab 9-7X and Isuzu Ascender SUVs.

A possible electrical short could affect power windows and door locks, and in some cases could cause a fire, GM said in its August 17 letter to the NHTSA that was posted on the agency’s website.

The recall involves vehicles sold or currently registered mainly in the Northeast and Midwest states, including Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin and the District of Columbia.”

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“ATP Oil & Gas Corp. (NASDAQ: ATPG) is joining the bankruptcy crowd. The oil company in the Gulf of Mexico filed a voluntary Chapter 11 bankruptcy petition in order to undertake a comprehensive financial restructuring.”

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“Deutsche Bank AG (DBK) is among four European banks being investigated by U.S. regulators for alleged money-laundering violations, according to an attorney with knowledge of the matter.

Federal regulators, including the U.S. Treasury’s Office of Foreign Assets Control, the Federal Reserve, the Justice Department and the New York District Attorney’s office are all involved in the probe of Deutsche Bank and three other European banks, said the attorney, who asked not to be identified because the investigations are confidential.”

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“(AP) CEDAR RAPIDS, Iowa – The founder an Iowa-based brokerage is expected to appear in court to face charges stemming from a suspected $200 million fraud scheme that drove his firm to bankruptcy and ripped off thousands of customers.

Peregrine Financial Group, Inc. CEO Russ Wasendorf Sr. is scheduled to be arraigned Friday in federal court in Cedar Rapids on an indictment that charges him with 31 counts of lying to regulators.”

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“Among the many Americans who collected unemployment checks during the Great Recession were thousands of millionaires who legally received jobless compensation.

Dormant software….hmmmmmm

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Just kidding about the money part. Love transcends all boundaries….no ?

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“WASHINGTON (Reuters) – The U.S. Justice Department said it will not pursue criminal charges against Goldman Sachs Group Inc or its employees related to accusations that the firm bet against the same subprime mortgage securities it was selling to clients.”

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“E*Trade Financial Corp. (NASDAQ: ETFC) this morning ousted CEO Steven Freiberg, who had been the company’s chief for just over two years, and replaced him with Frank Petrilli, the chairman of E*Trade’s board of directors. Freiberg’s ouster follows a decline in the company’s stock price of nearly 50% in the past year.”

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“MIAMI (CBS4) – Two months after he was viciously attacked on the MacArthur Causeway by the so-called Miami Zombie, Ronald Poppo succinctly summed up the events that captured the country’s attention.

“He attacked me,” Poppo said of Rudy Eugene. “He just ripped me to ribbons. He chewed up my face. He plucked out my eyes. Basically that’s all there is to say about it.”

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“The Tokyo Stock Exchange Group Inc.’s second major system error in seven months halted derivatives trading for about 95 minutes, cutting equity volumes, driving government bonds lower and sending futures traders to its smaller Osaka rival.

The failure lasted from about 9:20 a.m. to 10:55 a.m. local time, the bourse operator said. Trading in Topix Index shares was 20 percent below the average for the time of day after index and government bond futures were halted. Japanese 10-year government bonds fell during the breakdown. The exchange suffered its biggest disruption in six years on Feb. 2 as a fault halted trading for 3.5 hours in some of the country’s biggest companies.”

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It is a glorious development…Still, I wish Breitbart was around to see everything he has been able to accomplish.

Occupy Unmasked, a negative take on the Occupy Wall Street movement, will be distributed next month by Magnet Releasing.

In February, billionaire sports and media mogul Mark Cuban was seen hugging Barack Obama at a $30,000-a-plate fundraiser for the president’s re-election bid. On Monday, Cuban announced that one of his companies, Magnet Releasing, will distribute a film that heavily questions Obama, Democrats and the Occupy Wall Street movement the president has praised.

The film, dubbed Occupy Unmasked, is one of a few documentaries that Andrew Breitbart was involved with prior to his death five months ago. The film, from Citizens United Productions, producer David Bossie and director Stephen Bannon, seeks to document potential criminal activity at Occupy encampments and outline the movement’s allegedly radical-left underpinnings. Breitbart is featured prominently onscreen.

Despite the film’s political implications, Cuban told The Hollywood Reporter he remains largely nonpartisan.

Magnet is releasing the movie, Cuban said, “for the same reason we release all of our films: We believe there is a market for it. There has never been a film that I have been involved with that was influenced by any political beliefs I have because I don’t have any political beliefs.”

Nevertheless, conservative writers — primarily at Breitbart.com — quickly noted Cuban’s track record of financial support for Obama and the distribution of left-leaning films such as Jesus Camp and Enron: The Smartest Guys in the Room through his Magnolia Pictures, and they praised Cuban for rallying around the idea of “more voices, not less” with his embrace of Occupy Unmasked.

Magnet is planning a late-September limited theatrical release day-and-date with VOD.

“This film is controversial, and that’s exactly the reason we want to ensure it can find its audience prior to the November elections,” Cuban said in a statement announcing the deal. “I look forward to our partnership with Citizens United Productions and to getting this film out to the masses.”

Bossie told THR he expects a theatrical and VOD release on Sept. 21 and a DVD rollout — titled Andrew Breitbart Presents: Occupy Unmasked — within two weeks of that.

“We want to educate the American people about the insidious nature of the Occupy movement — what bad guys they are and what their true intentions are and what they want to do to America and to capitalism,” Bossie said.

“This is the first truly conservative film being distributed by a mainstream, independent, liberal-leaning company. Look at what Mark Cuban and Magnolia has released in the past,” said Bannon, whose previous movie was the pro-Sarah Palin documentary The Undefeated.  “We’re really excited that Magnet sees the commercial value of the film, because they’re not into proselytizing, they want to make money.”

Source

For the love of money….

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The suit claims of unlawful actions taken by GM to avoid competition for SAAB in the Chinese markets. Further the suit claims that this action led to the bankruptcy of SAAB.

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Knight Capital is get whacked this am despite a capital infusion. Investors still worry over the fate of this company.

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“A J.P. Morgan Chase JPM -2.36% & Co. executive encouraged the trader known as the “London whale” to boost valuations on some trades, said a person who reviewed communications emerging from the bank’s internal probe of recent trading losses.

After reviewing emails and voice-mail messages, the bank has concluded that Bruno Iksil, the J.P. Morgan trader nicknamed for the large positions he took in the credit markets, was urged by his boss to put higher values on some positions than they might have fetched in the open market at the time, people familiar with the probe said.”

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via sfgate.com

There may be more than 83 million fake users on Facebook, the giant social network has revealed.

In company filings published this week, it said 8.7% of its 955 million active users might not be real,according to the BBC.com.

Duplicate accounts, people who have an account in addition to a principal account, make up 4.8 percent of the “fake” accounts, as of June 30, 2012.

There are also “user-misclassified accounts” (2.4 percent) — pet accounts or a personal profile for business — and “undesirable accounts” (1.5 percent) that are intended for spamming, etc.

Fake users are a huge concern to Facebook because it generates a majority of its revenue from advertising. BBC.com says Facebook is coming under increased scrutiny over the worth of its advertising model which promotes the gathering of “likes” from users.

“Zynga’s stock has crated to around $3 from an IPO price of $10.

Or, more importantly, it’s now under $3, down from $12 when Zynga had a secondary offering of shares in April earlier this year.

During that secondary offering, insiders like Mark Pincus and a number of investors cashed out, selling about $516 million in stock.

Then Zynga had a disastrous second quarter where it reduced its full-year guidance, sending the stock tumbling.”

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“O.J. Murdock, a wide receiver for the Tennessee Titans, was found dead this morning in his car in a high school parking lot in Tampa, according to the Tennessean.”

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