The U.S. Bureau of Labor Statistics (BLS) reported that the economy added no new jobs during the month of August in a September 2 release. "Nonfarm payroll employment was unchanged (0) in August, and the unemployment rate held at 9.1 percent," the BLS reported.
Former Federal Reserve boss Alan Greenspan (left) made headlines this week when he said gold is indeed a currency and noted that the euro was falling apart, contradicting top officials on both sides of the Atlantic.
Steve Jobs, the CEO for Apple Inc., announced on Wednesday that he could no longer maintain his position at the company. Jobs garnered a reputation for being the man behind the iPhone, iPad, and other devices that virtually put Apple on the map, making it one of the most well-known companies in the world. Unfortunately, his health issues have rendered him unable to continue as CEO.
When Henry Blodgett explained that the reason for the decline in the price of Bank of America’s stock was because Wall Street thinks that Bank of America is worth less — much less — than what the bank itself thinks, bank spokesman Larry DiRita responded, “Mr. Blodgett is making exaggerated and unwarranted claims … [and that] as of June 30th, our tangible book value per share was $12.65.” At the time, B of A stock was selling for $6.42 a share.