The CME Group has some unfortunate news: Your lack of trading last year has hit it pretty hard in the wallet. But fear not: The company has already come up with one money-saving cutback for this year.
First, the sad: CME’s earnings fell by almost 80% in the fourth quarter, although Q4 2011′s figure was half composed of a one-time tax benefit. But the exchange is not losing hope: Read more »
Buffett said today at Fortune’s Most Powerful Women Summit in Washington that the nation’s tax code “has gotten distorted to a huge extent,” by levying higher taxes on secretaries and janitors than on CEOs and private equity whiners. “We are not taking in enough money at the federal government level,” he said. He said tax collections will have to rise back into the 18-20% range from below 15% lately. But Buffett also added a new twist in an interview after his appearance with CNNMoney.com’s Poppy Harlow: He said it’s time to cut taxes on those outside the top tax brackets. “We’re going to need to get more money,” said Buffett. “Why not get it from me instead of the guys who will serve us lunch?” [Fortune]
“Interview me.” Apparently his board also specifies that he’s looking for a gig in investment banking but, you know, beggars, choosers, etc. Will JD throw him a bone? I’d like to think so but I guess we’ll have to wait and see.
Update: Read more »