pJan 6, 2009 (WALL STREET JOURNAL) -- In an early sign that some steel prices may have bottomed out, steelmakers in the U.S., China and some other countries are attempting limited price increases and reopening a handful of mills that were closed because of weak demand a few months ago./ppnbsp;/ppIt isn't clear whether the price increases will stick, however. Steel sellers often announce price increases or special surcharges, only to relent in the face of customer opposition or if rivals don't follow suit. Nor is it clear whether the price increases reflect more demand or lower inventories.br /nbsp;/ppTroubled auto makers, contractors, appliance and equipment makers have cut back on their steel purchases. The majority of mills closed over the last few months remain shuttered and many around the world are operating below 50% of their capacity./ppnbsp;/ppBut steelmakers signaled cautious optimism that there is enough demand to support price increases in ...

The 116 banks that are receiving billions in taxpayer-provided bailout money this year actually paid out $1.6 billion in compensation and benefits to their top executives last year – even though the results at some of these institutions were so poor that they would soon have to turn to Washington for a government-engineered rescue.

The $1.6 billion was paid out to nearly 600 executives at the 116 banks that have so far accepted federal money to bolster their financial foundations, The Associated Press concluded after a review of U.S. securities filings. In addition to salary, the compensation included bonuses paid in both cash and stock. The benefits reaped by top executives included the use of company jets for personal purposes, personal chauffeurs, home-security services, country-club memberships and professional-wealth-management services, the news service said.

U.S. Rep. Barney Frank, D-Mass., a longtime critic of the fat pay packages given to U.S. executives, said

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The 116 banks that are receiving billions in taxpayer-provided bailout money this year actually paid out $1.6 billion in compensation and benefits to their top executives last year – even though the results at some of these institutions were so poor that they would soon have to turn to Washington for a government-engineered rescue. The $1.6 billion was paid out to nearly 600 executives at the 116 banks that have so far accepted federal money to bolster their financial foundations, The Associated Press concluded after a review of U.S. securities filings. In addition to salary, the compensation included bonuses paid in both cash and stock. The benefits reaped by top executives included the use of company jets for personal purposes, personal chauffeurs, home-security services, country-club memberships and professional-wealth-management services, the news service said. U.S. Rep. Barney Frank, D-Mass., a longtime critic ...

Sunday 5/3/09 After a 6-year hiatus, the Pittsburgh Marathon [click on image to enlarge course map] returns on Sunday 5/3/09 with a new sponsor. I have run 6 of my 18 marathons in Pittsburgh (1996-2001), including my personal best time of 2 hours, 54 minutes in 1999. There were typically about 2,000 marathon runners each year with plenty of crowd support along the course. In early May, the weather is usually perfect with low humidity and temps in the 40-50s. There is also a half-marathon added this year, with both events scheduled to start earlier at 7:30 am. I am planning to run the marathon, but have a lot of training to do over the next few months to finish in ...

First Congress authorized $700 billion — quite a bit more than the entire Department of Defense budget — for some sort of “troubled asset relief plan (TARP).” (Nobody ever really explained it to my satisfaction. Somehow we were going to throw money at a very big problem and fix it.) Then the money flowed like rainwater to Wall Street and a bunch of banks. Then the banks and Wall Street houses continued to pay their insiders’ big salaries and bonuses.

Yard Work, Troubled Assets, Bankruptcy and Energy

I often mention that I live in Pittsburgh. Well, the truth is that I live in a leafy suburb of Pittsburgh. I grew up in the Steel City. But when I got married I moved to the suburbs to be near my wife.

Life in the Leafy Suburbs

There is a problem with living in a leafy suburb. When autumn rolls around, the leaves turn brown

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Fear of depression is sweeping the nation. Millions of Americans are consumed with anxiety, abandoning their old shop-till-they-drop habits, slashing their spending, trying desperately to pinch pennies for the coming hard times. Thousands of bankers are snapping shut their coffers, tightening their lending standards, hunkering down in anticipation of a massive economic downturn. Sophisticated investors also see the handwriting on the wall. They’re pulling out of hedge funds, selling their mutual funds, rushing their money to the safety of Treasury bills. Even the established media, often late to see the dangers, is beginning to speak out more loudly … CNN Money: “The rapid deterioration of labor markets points to a sharp decline in hours worked and output in the fourth quarter. This is likely to lead to a decline ...

The Treasury’s plan to inject $250 billion in capital directly into US banks is underway. But William Patalon III says some of these taxpayer funds will be used by big banks to acquire junior competitors. This means the increase in lending that the plan is supposed to spark will be modest at best. And less competition in the banking sector could mean a rise in fees going forward.

This from Money Morning:

While the U.S. government’s plan to invest $250 billion into U.S. financial institutions has been billed as a strategy that will bolster the health of the banking system and also jump-start lending, the recapitalization plan is likely to have a secondary effect – one that whipsawed U.S. taxpayers likely won’t be very happy to learn about.

Those billions are a virtual lock to set off a merger tsunami in which the biggest banks use taxpayer money to get bigger

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While the U.S. government’s plan to invest $250 billion into U.S. financial institutions has been billed as a strategy that will bolster the health of the banking system and also jump-start lending, the recapitalization plan is likely to have a secondary effect – one that whipsawed U.S. taxpayers likely won’t be very happy to learn about. Those billions are a virtual lock to set off a merger tsunami in which the biggest banks use taxpayer money to get bigger – admittedly removing the smaller, weaker banks from the market, but ultimately also reducing the competition that benefited consumers and kept the explosion in banking fees from being far worse than it already is. One last point: Experts say that takeovers financed by the government infusions are likely to have less of a beneficial impact on the economy than an actual increase in ...

Early August marked the first anniversary of the credit crunch. The infant that arrived unheralded and unwelcome on the doorstep of the financial world is now, believe it or not, just over one year old. While we all hoped that its unhappy life would be a short one, it now seems as though this unwanted foundling is going to be with us for a while yet. And, by all accounts, it is going to cause us a lot more sleepless nights before it goes away.

If the credit crunch were a storm we might now be in its eye – that expanse of uneasy calm in the storm’s centre, which whispers to the unwary that the worst is behind them. No chance, I’m afraid, if we listen to the utterances of

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Allin Corporation (ALLN.OB), a Pittsburgh based, multi-faceted software/hardware solutions provider, announced another win Friday for its Interactive Media arm in the lucrative cruise ship interactive television market. Costa Crociere, Italy’s (and Europe’s) number one cruise vacation line will have Allin provide the interactive television solution for its two newest and most advanced cruise ships, the Costa Luminosa and the Costa Pacifica, scheduled for delivery in spring 2009. The projects will be Allin’s seventh and eighth installation for Costa, and will include several advanced communication features.

The Costa Luminosa and Costa Pacifica systems will provide a variety of in-cabin entertainment and information options, including the ability to pause and bookmark on-demand movies, preview and purchase shore excursions, and learn about onboard offers and events. Services will be available in six different languages.

At 93,700 tons, the Costa Luminosa is Costa’s 13th ship, totaling 1,130 staterooms and suites, most of them with

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