Gibson CEO Takes Leave Of Absence From Rainforest Group While Feds Investigate Imported Wood

Gibson CEO Takes Leave Of Absence From Rainforest Group While Feds Investigate Imported Wood

When agents raided Gibson Guitar’s manufacturing facility earlier this week, some articles pointed out that the company’s CEO Henry Juszkiewicz was on the board of the Rainforest Alliance, a group that certifies businesses to sell their goods under an environmentally sustainable label. Now the group has postponed its annual certification of Gibson Guitars, and Juszkiewicz is temporarily stepping down from the board.

Feds Raid Gibson Guitars

Feds Raid Gibson Guitars

Yesterday, US Fish & Wildlife Services agents issued a search warrant on Gibson Guitars’ manufacturing plant in Nashville, TN. The Nashville Post writes that they “seized wood, guitars, computers and boxes of files from Gibson Guitar’s Massman Road manufacturing facility.”

Fed Keeps Interest Rates At .25%

Fed Keeps Interest Rates At .25%

Interest rates will stay at at a low low .25%, the Fed announced today. For you this means…

Feds Didn't Bail Out Lehman, They Just Loaned Them $87 Billion

Feds Didn't Bail Out Lehman, They Just Loaned Them $87 Billion

Effectively, the Feds loaned the global financial firm Lehman Brothers $87 billion Monday as it filed for bankruptcy and sent Wall Street into even more of tizzy, CNBC reports. In order to “to avoid disruption of financial markets,” the feds asked JP Morgan Chase to advance Lehman the 87 really big ones, then the Federal Reserve Bank of New York repaid Chase. Wait, wasn’t everyone patting the government on the back for not bailing out Lehman? Looks like that was only half of the story. Your tax dollars at work.