Stock futures fall ahead of housing data
NEW YORK – Stock futures pointed toward a lower opening on Wall Street Friday ahead of data expected to show further trouble in the housing market.

Countrywide CEO sees recession ahead
NEW YORK (Reuters) – Countrywide Financial Corp Chief Executive Angelo Mozilo said on Thursday the U.S. housing downturn is likely to lead the country into recession, but that the largest U.S. mortgage lender will survive.

Jobless claims down 2,000 last week
WASHINGTON (Reuters) – The number of U.S. workers filing new claims for jobless aid fell 2,000 last week, government data on Thursday showed, while the number of people still collecting benefits rose to its highest since April.

Two Major Airlines Admit to Price Fixing
WASHINGTON — Two major airlines were fined $300 million apiece Thursday after admitting they conspired to fix prices on international flights and agreeing to help prosecutors investigate other airlines.

CSR’s Impact on Brands Grows
American companies in nearly every sector say they embrace corporate social responsibility (CSR) not only because it’s the right thing to do, but also because it strengthens their brands. They also recognize that a stronger brand is a more valuable one, which is an important factor since the U.S. Financial Accounting Standards Board (FASB) issued standards this year for reporting how much brands and other intangible assets are worth.
I really hate being such a cynic, but here’s a very simplistic accounting lesson: “Good will”, which would include the value of a brand, must necessarily be considered an asset.  An addition to an asset is a debit.  So there must be some credit somewhere to offset that debit.  Where better to make the credit than in INCOME?  Of course, it’s not real income, but that makes it even better.  You don’t have to pay taxes on it, but reporting it increases the value of your stock.   And best of all, you just make up the number for the value of your brand! No wonder we’ve had so many stock price implosions.  Thanks, FASB, for protecting the interests of we the people.