Bernanke Vote

The Senate voted 70-30 to reappoint Ben Bernanke for a second four-year term as chairman of the Federal Reserve.

Earlier, senators voted 77-23 to end debate, clearing the way for a final vote.

During more than two hours of debate on the Senate floor, Bernanke backers warned that voting him down risked sparking turmoil in U.S. and foreign markets and thwarting a budding economic recovery. They said the Fed chairman deserved an opportunity to finish what he started.

Mr. Bernanke is a controversial figure. He was the main person behind the successful fight, in 2007 and 2008, against what he has described as possibly the worst financial crisis in modern history.

“To vote against confirmation could unnerve investors and exacerbate economic uncertainty in the marketplace, which is exactly what we do not need at this time,” said Sen. Robert Menendez, Democrat of New Jersey. “We need the wisdom of patience,” he said. “Let us not judge the man or the work prematurely.”  Read full Wall Street Journal article here

After months of rumors and speculation about a slate-like device, Apple has its say on Wednesday. We’re bringing you live coverage from the high-profile press event, which kicked off in San Francisco at 10 a.m. PST.

In the meantime, here’s a column about what we expect to see and what we hope we’ll see. Check back in this post once the event starts for all the live, up-to-the minute updates.

Tom Merritt and Molly Wood will be hosting a special edition of Buzz Out Loud, so visit this link in another window to hear their ongoing commentary throughout today’s announcement.  Read more here

Apple Earnings Jump 50 Percent

January 26th, 2010

Apple announced its successful first quarter results and its excitement over next week’s “major new product” debut

Yesterday, Apple boasted record sales of Macs and iPhones which helped power the company to its best-ever performance this past quarter.

Sept. 15 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke said the worst U.S. recession since the 1930s has probably ended, while warning that growth may not be strong enough to quickly reduce the unemployment rate.

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