The US financial system could be in for its biggest shake-up since the Great Depression, after comments made by two of the most powerful figures in the United States economy.  ┬á Federal Reserve chairman Ben Bernanke and US Treasury Secretary Henry Paulson addressed a Congressional panel on "Systematic Risk and Financial Markets" Thursday to argue a case for a new system of regulation.┬á┬á The idea that markets are best left alone has been the financial creed behind the US economy for decades, but the near collapse of investment bank Bear Stearns and the continuing credi

The US government has decided to reopen bidding for a $40 billion contract to supply the US Air Force with refueling tankers, after Boeing complained about the original award of the contract to Northrop Grumman and its European partner.   ┬á The contract to build 179 refueling tankers over 15 years was awarded on February 29 to Los Angeles-based Northrop Grumman and its partner, EADS North America, a subsidiary of European Aeronautic Defence and Space Co., the parent of Airbus.┬á┬á The decision has proved extremely controversial, however.

Blue jean icon Levi Strauss has reported that its second quarter profits have plummeted 98 percent as a result of weak consumer spending in the US and the cost of new software which has also disrupted supplies.  Announcing its financial results for the second quarter ended May 25, 2008, yesterday, Levi Strauss declared net income of $1 million, compared to $46 million in the same quarter last year.┬á┬á The company blamed the weak US economy and costs related to rolling out new ERP (enterprise resource planning) software that caused shipping delays and dented US sales.

NBC Universal, with private equity investment partners Bain Capital and Blackstone Group, agreed this past weekend to buy cable network The Weather Channel, ending a long-running auction that captured interest from several major media companies. ┬á Landmark Communications Inc., owner of The Weather Channel, put the network up for sale in January, along with the popular website weather.com, and other related businesses. ┬á Initial interest was shown by CBS, Comcast, and Time Warner, the worldÔÇÖs largest media company.

Microsoft may reopen talks with Yahoo! about a possible takeover, if a new board of directors is elected at the forthcoming shareholder meeting, according to a statement released yesterday.  ┬á The software giant has said it is still interested in a deal with Yahoo!, after discussions with billionaire investor Carl Icahn last week. ┬á┬á The on-again, off-again saga has been in the news since January, when Microsoft offered to buy Yahoo! for $47.5 billion. Yahoo!

Belgian-Brazilian brewer InBev is still determined to capture Budweiser brewer Anheuser-Busch after its initial $46 billion proposal was rejected ten days ago, by attempting to remove the companyÔÇÖs entire board in a hostile takeover.  ┬á An alternate board, which would include Adolphus Busch IV, the uncle of Anheuser CEO August Busch IV, will give shareholders "a direct voice" in the takeover, InBev said.┬á┬á InBev, best known for its Stella Artois brand, plans to file a preliminary consent solicitation with the US Securities and Exchange Commission today, asking Anheu

Owner managersCompany president Daniel Moos tells Martin Ashcroft how a diversified portfolio and a hands-on approach make Prime Income Asset Management a property business with a difference. We manage what we own, and we own what we manage,ÔÇØ says Daniel J. Moos, about Prime Income Asset ManagementÔÇÖs business model. ÔÇ£One of the reasons we excel at what we do is because we own and manage our assets. We live and breathe it every day. Whether itÔÇÖs a piece of land that weÔÇÖre trying to develop or an apartment building, weÔÇÖre directly involved.

Central Washington UniversityBill Yarwood and Pat Nahan tell Keith Regan how Central Washington University has dramatically reduced energy consumption, even as its campus has grown. If anyone doubts that focusing on sustainability can help an organizationÔÇÖs bottom line, the story of Central Washington University should change their minds.

Climbing the rankingsG&D Integrated began as a trucking company, but it has found most of its growth from offering supply chain and manufacturing logistics support to its customers, Keith Regan reports.┬á Although it has a long history that stretches to its roots as a freight hauler in the horse-and-wagon days of the 1880s, Morton, IllinoisÔÇôbased G&D Integrated has rapidly become a top-tier provider of inbound supply chain logistics.

All that glittersClaude Lemasson tells Gary Toushek how people-centric policies have helped Goldcorp go from junior miner to the worldÔÇÖs second-largest gold company. These days Claude Lemasson spends a lot of time traveling between his Toronto office and the James Bay area of northern Qu├®bec, looking after his current priority, the ├ël├®onore project, a major new gold discovery situated within a relatively unexplored area of James Bay, in Cree Nation of Wemindji territory.