The richest man in France has officially transferred his multi-billion pound fortune out of his homeland to Belgium. Bernard Arnault, head of luxury goods group LVMH, insists he has moved his assets for ‘family inheritance reasons’. But others are convinced that the...
Finance
Government Dependents Outnumber Private Sector Workers
In 11 of the 50 states in the US, residents dependent on the government outnumber private sector workers. “America is rapidly becoming a nation of takers,” economic blogger Michael Snyder writes. “An increasing number of Americans expect the government to take care of...
Gov Official Warns Cook County Retirees Of Local Debt
In May, 2012, the collective debt reported by the local primary taxing agencies in Cook County was more than $140 billion! To put that in context, the total debt-per-household in the City of Chicago was $87,720, and $35,774 in the suburbs. Since local governments...
GM Exit Strategy: Taxpayers Eat Billions
The Obama administration said Wednesday it will sell 200 million shares — or 40 percent of its remaining stake in General Motors Co. — back to the automaker and announced plans to completely exit the Detroit automaker by March 2014. The Detroit automaker said it will...