1. In the spirit of Warren Buffett, some of France’s richest executives and billionaires signed a petition about a year ago asking for higher income tax rates so they could “contribute.” But they weren’t expecting a 75% tax rate, and now they’re “crying foul” and moving or threatening to move, according to Andrew Ross Sorkin in his article “Welcoming Higher Taxes, But Not That High.”
2. A new housing survey from Fannie Mae shows that Americans are generally optimistic about the housing recovery and the overall U.S. economy, and they expect gradual increases in home prices to continue.
3. Used car prices are falling, as inventory levels climb due to increases in the supply of trade-ins from people buying new cars, see Detroit News article and the Manheim Used Vehicle Value Index, which fell to a two-year low last month.
4. Olive Garden and Red Lobster restaurants are putting more workers on part-time status in a test aimed at limiting the impact of looming health coverage requirements. The test entails increasing the number of workers on part-time status, meaning they work
less fewer than 30 hours a week. Under the new health care act, companies will be required to provide health care to full-time employees by 2014, which would significantly boost labor costs for businesses.
5. Britain will seek to open up its potential reserves of shale gas, with a “generous new tax regime,” the Chancellor has revealed, in a promise which has dismayed environmentalists.
7. Home Tours Increase 3% in September and Offers Were Up 4% according to Redfin Real-Time Demand Pulse; Home Sales Show No Sign of Slowing Down.
8. Continental Resources announced today that it plans to triple oil production to 300,000 barrels per day by 2017, with much of that increased production planned in the Bakken region.
10. Swedish lunch lady is slammed for making school cafeteria food so good that it’s unfair to students at other schools??