FBI and SEC Probe into Insider Trading Investigation of Carl Icahn, Billy Walters & PGA’s Phil Mickelson
Investor, Bettor, and Golfer Investigated for Insider Trading, Oh My!!!
The NY Times is reporting that federal authorities are investigating a series of well-timed trades made by PGA golfer Phil Mickelson and the gambler William T. Walters, focusing on trading in two different stocks from 2011 and 2012. The Feds are looking into whether Mickelson and Walters may have traded illegally on private information provided by billionaire investor Carl Icahn about his investments in public corporations. The stock trades in question are with Clorox in 2011 and Dean Foods in 2012. As reported at the Business Insider Mickelson stated, “I have done absolutely nothing wrong. I have cooperated with the government in this investigation and will continue to do so.”
Federal authorities are examining a series of well-timed trades made by the golfer Phil Mickelson and the gambler William T. Walters, people briefed on the investigation said, focusing on trading in two different stocks. The authorities are also questioning what role, if any, the investor Carl C. Icahn may have had in sharing information about one of the stocks: the consumer products company Clorox.
Mr. Mickelson, a three-time winner of the Masters golf tournament and one of the country’s highest-earning athletes, placed his Clorox trade in 2011, the people briefed on the investigation said. Mr. Walters, an owner of golf courses who is often considered the most successful sports bettor in the country, made a similar trade about that time, the people added.
Mr. Icahn, a 78-year-old billionaire and one of the best-known investors in the world, was mounting a takeover bid for Clorox around the time that Mr. Mickelson and Mr. Walters placed their trades.
The F.B.I. and Securities and Exchange Commission, which are leading the inquiry along with federal prosecutors in Manhattan, are examining whether Mr. Icahn leaked details of his Clorox bid to Mr. Walters, the people briefed on the investigation said. One theory, the people said, is that Mr. Walters might have passed that information to Mr. Mickelson.
GOOD GRIEF … Former Microsoft CEO Steve Ballmer Wins Bidding War for NBA’s LA Clippers with $2 Billion Offer (Update: Donald Sterling Vows to Sue)
REALLY … 2 BILLION DOLLARS!!!
Steve Ballmer, the former CEO of Microsoft, has won the bidding war for the Los Angeles Clippers at a reported offer of $2 billion. That is if you can call paying $2 billion for the Clippers a win. The 58 year old Ballmer is worth a reported $20 billion, well make that $18 now if the deal is approved by the NBA commissioner Donald Sterling and three-fourths of the 30 NBA owners. Ballmer has reaffirmed his promise o keep the team in Los Angeles and not move it to home in Seattle. The sale price is almost four times the highest previous NBA franchise sale price, the $550 million paid earlier this month for the Milwaukee Bucks.
Sorry, Steve Ballmer is not the winner … the real winner is Clippers co-owner Shelly Sterling.
Well folks, don’t ask for things they might just come true. The next round of complaints will be that it is unfair for banished from the NBA for making racist comments, Clippers owner Donald Sterling, make such an amazing profit on the sale of the Clippers. Sterling paid $12 million in 1981. OUCH, from $12 million to $2 billion, that is quite the investment. Look for cries of foul that Sterling made money for racist comments. But I don’t see any complaints from Obama about income inequality when it comes to Ballmer and the other richest sports owners.
Steve Ballmer and Dr. Evil … Separated at birth.
Former Microsoft chief executive Steve Ballmer has won a frenetic bidding war for ownership of the Los Angeles Clippers, with a $2-billion offer that would set a record price for an NBA team.
Ballmer bid higher than competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers.
he Geffen group offered $1.6 billion and the Ressler-Karsh group $1.2 billion. People familiar with both those offers said they were rejected.
Ballmer and Clippers co-owner Shelly Sterling concluded a deal late Thursday afternoon. But Bobby Samini, an attorney for Donald Sterling, said as he left the team co-owner’s home: “There’s been no sale. There can be no sale without Donald’s signature.”
The sale price would be almost four times the previous NBA franchise high: the $550 million paid earlier this month for the Milwaukee Bucks. It is the second highest price ever paid for a sports team in North America. The Dodgers sold in 2012 for $2.1 billion.
Los Angeles Clippers owner Donald Sterling does not have the authority to stop a $2 billion sale of his team because he has been determined to be mentally unfit to make decisions related to the family trust, a person familiar with the situation told USA TODAY Sports.
The Sterling Family Trust owns the team, with Donald and his wife Shelly each owning a 50% share. The trust spells out provisions and procedures related to the mental capacity of the trustees, and Donald Sterling did not meet the standard in a determination by experts, giving his wife sole decision-making power for the trust, the person said.
The NBA confirmed on Friday that the Los Angeles Clippers have been sold to former Microsoft (MSFT) CEO Steve Ballmer for $2 billion, the largest ever for an NBA franchise.
The NBA’s statement said:
The NBA, Shelly Sterling and the Sterling Family Trust today resolved their dispute over the ownership of the Los Angeles Clippers. Under the agreement, the Clippers will be sold to Steve Ballmer, pending approval by the NBA Board of Governors, and the NBA will withdraw its pending charge to terminate the Sterlings’ ownership of the team. Because of the binding agreement to sell the team, the NBA termination hearing that had been scheduled for June 3 in New York City has now been cancelled. Mrs. Sterling and the Trust also agreed not to sue the NBA and to indemnify the NBA against lawsuits from others, including from Donald Sterling.
UPDATE III: Donald Sterling Vows To Sue
The statement came as NPR’s Tom Goldman received word from Sterling’s attorney that his client would sue the NBA for $1 billion in damages for terminating his ownership of the the team.
Tom says: “I communicated with Donald Sterling’s attorney Max Blecher via email. He confirms there will be a lawsuit filed in federal court in Los Angeles.”
The lawsuit is “based on multiple counts, including antitrust violations, invasion of constitutional rights, breach of contract, breach of fiduciary duty,” Tom says.
“This is a lawsuit against the NBA and Commissioner Adam Silver, who of course banned Sterling for life, fined him $2.5 million and is in the process of trying to remove Donald Sterling from the ownership of the Clippers,” he says.
Daily Commentary – Monday, April 14, 2014 – Couple Clipped by FedEx Truck Claims it Was on Fire Prior to Bus Collision
- However, NTSB says it was not on fire and also says there were no skidmarks before the FedEx Truck slammed into the bus carrying high school students
Daily Commentary – Monday, April 14, 2014 Download
Bill Maher Actually Makes a Valid Point as People Laugh: “There Is A Gay Mafia, If You Cross Them, You Do Get Whacked” … The Intollerance of the Gay Rights Activists
Liberal comedian Bill Maher proves even a blind squirrel finds an acorn every so often …
During the online-only “Overtime” portion of HBO’s ‘Real Time’ with Bill Maher, the liberal comedian weighed in on the Mozilla controversy, and his comments may actually surprise you. Maher seemed to disagree with gay rights activists for targeting Mozilla CEO Brendan Eich because of a 2008 $1000 donation to support a ballot initiative, proposition 8, that would ban same-sex marriage in California. Not only did the gay right activists target Brendan Eich, they successfully got him removed from Mozilla for simply applying his First Amendment rights of free speech. Bill Maher said, “There is a Gay Mafia, if you cross them, you do get whacked.”
Gay Rights activists just crossed a line that they will wish one day they did not. Paybacks are as they say, a bitch.
MAHER: What do you think about the Mozilla CEO having to step down over his donation to a pro-Proposition 8 group.
The Mozilla — which I’m wearing right now, by the way. I didn’t know what Mozilla was. I saw it on my computer, but — it’s Firefix, right? It’s the browser.
So this guy apparently does not want gay people to get married and he had to step down. What do you think of that, the question asks.
FMR. REP. TOM DAVIS (R-VA): Because he gave $1,000 eight years ago and it’s come back to haunt him.
CARRIE SHEFFIELD, FORBES: Well, and he gave it when President Obama was still against gay marriage. So, I don’t think it’s very fair.
MAHER: Good point. Also, I think there is a gay mafia. I think if you cross them, you do get whacked.
So you thought you could hide from Obamacare, this insidious law will eventually affect every American one was or another … Resistance is Futile.
Possibly coming to a restaurant you frequent, customers asked to help foot the bill for Obamacare healthcare increases and the not-so Affordable Healthcare Act … Gator’s Dockside, a Florida restaurant chain, is adding a 1% ACA surcharge to all of their patron’s bills in order to help pay for their increase in healthcare charges for their full time employees. Just curious, if it is so affordable, why do businesses need to further place a burden on their patrons to pay more, while receiving nothing more in return? Signs welcoming customers at the door read “The costs associated with ACA compliance could ultimately close our doors.”
click on pic to enlarge
Several restaurants in a Florida chain are asking customers to help foot the bill for Obamacare.
Diners at eight Gator’s Dockside casual eateries are finding a 1% Affordable Care Act surcharge on their tabs, which comes to 15 cents on a typical $15 lunch tab. Signs on the door and at tables alert diners to the fee, which is also listed separately on the bill.
The Gator Group’s full-time hourly employees won’t actually receive health insurance until December. But the company said it implemented the surcharge now because of the compliance costs it’s facing ahead of the Affordable Care Act’s employer mandate kicking in in 2015.
“The costs associated with ACA compliance could ultimately close our doors,” the sign reads. “Instead of raising prices on our products to generate the additional revenue needed to cover the costs of ACA compliance, certain Gator’s Dockside locations have implemented a 1% surcharge on all food and beverage purchases only.”
The Borg Obamacare … Resistance is Futile
We are reminded by the Heritage Foundation that other restaurants in California have done the same and added ACA surcharges to their bills.
What do you think happens when a new tax is forced upon a business by the feds, it gets passed on to the customer. Remember, the SCOTUS deemed Obamacare constitutional because it was a tax, even though Obama originally said to the American people that it was not. What is going to happen in the future when we find out that Obamacare is more costly than previously projected? Restaurants will have a much greater surcharge than 1%.
FCC Cancels Media Survey Amid Allegations of Trying to Regulate The News and Trample First Amendment Freedom of the Press Rights
Hero of the Week … whistler-blower FCC Commissioner Ajit Pai.
The FCC blinked and has canceled the media survey and plans to evaluate the coverage of media outlets in the Obama’s administration to attempt to violate the First Amendment and Freedom of the Press. As stated at the Washington Examiner, the First Amendment says “Congress shall make no law … abridging the freedom of speech, or of the press …” However, under the Obama administration, the Federal Communications Commission was planning to send government contractors into the nation’s newsrooms to determine whether journalists are producing articles, television reports, Internet content, and commentary that meets the public’s “critical information needs.” As per The Obama Administration, of course. The very agency that controls the licensing for the media was now going to inspect them for content and whether they were telling the correct stories. UNREAL. The now canceled study was known at the FCC as “the CIN Study” was never put to an FCC vote, it was just announced. Imagine that. Why does this reek of IRS-gate? Or AP-gate? But in an act of conscience and bravery, FCC commissioner Ajit Pai came forward and brought the story to the public’s attention in a Wall Street Journal column last week.
First FCC Commissioner Ajit Pai brings the scheme to light and the FCC removed some of the controversial questions
The Federal Communications Commission cancelled a plan to evaluate the coverage of major media outlets Friday after a tidal wave of media criticism alleged the agency was attempting to influence and regulate the news media industry.
“In the course of FCC review and public comment, concerns were raised that some of the questions may not have been appropriate,” the agency said in a statement Friday. “Chairman Wheeler agreed that survey questions in the study directed toward media outlet managers, news directors, and reporters overstepped the bounds of what is required.”
However, despite the fact that the FCC had to pull the plug on this survey because of the negative attention and anti-First Amendment look of this attempt by the government to regulate the media, FCC Chair Wheeler said that it was not an attempt to do so. Sure it wasn’t, so then why cancel the study … hmm? Who backs of an attempt to limit the media unless you were caught red-handed? But instead, they continue to dent what their real intentions were. America needs to wake up … the Obama administration is as lawless as it gets.
Despite a response letter from FCC Chair Tom Wheeler saying the study was not an attempt to force news organizations into changing their coverage, the agency conceded the battle and Wheeler called for the removal of the questions entirely.
“Any suggestion that the FCC intends to regulate the speech of news media or plans to put monitors in America’s newsrooms is false,” the statement said. “The FCC looks forward to fulfilling its obligation to Congress to report on barriers to entry into the communications marketplace, and is currently revising its proposed study to achieve that goal.”
Click here to watch VIDEO – screen grab from Fox News, ‘On the Record’
GRETA VAN SUSTEREN, FOX NEWS HOST: Does President Obama really think no one at FOX will see a government spy in our newsroom? Tonight, an FCC commissioner goes ON THE RECORD and blows the whistle on a plan to install spies in newsroom. They call it something else, like a monitor. But no one is that stupid. We know what they are trying to do.
The FCC commissioner who blew the whistle is here to go ON THE RECORD. Commissioner Ajit Pai joins us.
Nice to see you, sir.
AJIT PAI, FCC COMMISSIONER: Thanks for having me.
VAN SUSTEREN: So your op-ed blew the whistle on this. What is it the FCC wants to do and why you wrote your op-ed?
PAI: The FCC is proposing to do what it is calling a Critical Information Needs, or CIN, study. They will send researchers into newsrooms across the country, television and broadcast and newspapers, to try to figure out why they cover the stories they do. They have identified eight categories of news they think news people should be covering. Some of the questions they ask were highly technical. They are asking reporters, for example, have you ever wanted to cover a story and were told you can’t do so. As I looked into the study design, I got concerned about what it implicated for our First Amendment values. That’s why I wrote it in the “Wall Street Journal.”
VAN SUSTEREN: What’s been the response by the other members of the FCC?
PAI: I haven’t talked to all my colleagues, but I am pleased to report, tonight, the chairman of the FCC, Tom Wheeler, instructed the contractor, who will be doing the study, to remove questions from the study relating to news philosophy and editorial judgment. That’s a positive step but the devil is in the details when it comes to the actual study as implemented
ABBA Admit Outrageous Outfits Were Worn To Avoid Taxes, Not Just Because of Pop Glamour Culture of the Late 70′s and Early 80′s
Who knew, wearing outrageous clothing was a tax loophole?
As reported in The Guardian, a new book, ‘The Official Photo Book,’ published to mark 40 years since ABBA won Eurovision with Waterloo, the band’s style may have been influenced by Swedish tax laws that allowed the cost of outfits to be a tax deduction, just as much as the pop culture fashion style of the late 1970′s and early 1980′s. The Swedish tax law stated that the cost of outfits could be deducted, so long as the costumes were so outrageous they could not possibly be worn on the street. Hmm, I don’t know, their outfits would have to be really over the line as people wore some pretty outrageous clothing in the 70′s. Although, I believe if anyone was caught wearing these outfits that ABBA is wearing in this rendition of Waterloo (VIDEO) in the street, they have have been strapped in a white coat.
No matter what the reason, ABBA is legendary and I hope that they can make their 40 year reunion happen.
ABBA – Waterloo Eurovision 1974
The glittering hotpants, sequined jumpsuits and platform heels that Abba wore at the peak of their fame were designed not just for the four band members to stand out – but also for tax efficiency, according to claims over the weekend.
Reflecting on the group’s sartorial record in a new book, Björn Ulvaeus said: “In my honest opinion we looked like nuts in those years. Nobody can have been as badly dressed on stage as we were.”
And the reason for their bold fashion choices lay not just in the pop glamour of the late 70s and early 80s, but also in the Swedish tax code.
What, you mean no one was wearing clothes like this in the late 70′s?
The Daily Mail: Abba admit they only wore those ridiculous outfits to avoid tax!
He said: ‘Nobody can have been as badly dressed on stage as we were. In my honest opinion we looked like nuts in those years.
But we figured people would remember us even if we finished ninth.’
Colleague Benny Andersson added: ‘I’ve never regretted any picture?.?.?. just grin and bear it.’
Chattanooga,Tennessee Volkswagen Workers Reject UAW Union Vote … Devastating Defeat for Unions … “A Southern Man Don’t Need Them Around Anyhow!”
Tennessee, it’s called the “Volunteer” state, not the union state …
Lynard Skynard may have been singing about ‘Sweet Home Alabama,’ but the same holds true in Tennessee and the rest of the South … “Well, I hope
Neil Young UAW will remember, A Southern man don’t need him around anyhow!”
YES TO AMERICAN WORKERS, NO TO UNION THUGS!!! Workers at a Volkswagen factory in Chattanooga, Tennessee have voted no against union representation in a devastating loss for the UAW, United Auto Workers union. The vote was 712-626, that was released late Friday night opposing unionization of the Detroit based union. Imagine that, the workers in Chattanooga, TN did not want their plant or their city going the way of Detroit? As Reuters reports, this failure to unionize VW is a stinging defeat that could accelerate the decades-long decline of the United Auto Workers. Prior to the vote, Barack Obama interjected himself into the discussion on the side of “Big Labor”. Of course, Obama’s message was divisive and stated that the union representation of VW was “settled science.”
President Barack Obama on Friday waded into a high-stakes union vote at Volkswagen AG’s plant in Tennessee, accusing Republican politicians who oppose unionization of being more concerned about German shareholders than U.S. workers.
Obama’s comments, made at a closed-door meeting of Democratic lawmakers in Maryland, came as the vote to allow union representation at the Chattanooga plant drew to a close.
Obama’s interjection in the war of words on Friday, albeit behind closed doors, underscored how much is stake in the three-day vote by VW’s 1,550 hourly workers. The vote is due to end at 8:30 p.m. ET and the results could be announced soon after that.
Obama said everyone was in favor of the UAW representing Volkswagen except for local politicians who “are more concerned about German shareholders than American workers,” according to a Democratic aide who attended the meeting with Democratic lawmakers in the House of Representatives.
NOT SO FAST BARACK, WRONG AGAIN … Not everyone was in favor of UAW representation ... including 712 workers who voted in the majority and said NO!!!
VIDEO of vote announcement.
Union organizers in the South suffered a setback Friday when workers at the Volkswagen plant in Chattanooga, Tennessee, voted against being represented by the United Auto Workers.
The vote was 712 against the union and 626 in favor. There are about 1,550 hourly workers at the plant who were eligible to vote.
The vote was seen as the UAW’s best chance to organize a nonunion auto plant, because Volkswagen management did not oppose the effort.
Winners and Losers:
Winners: The VW workers, The city of Chattanooga, The state of Tennessee, Sen. Bob Corker (R-TN), right to work, Volkswagen, America
Losers: UAW, Unions, Big Labor, President Barack Obama, liberalism, Democrats, Thuggery
UPDATE I: Frank Fischer, CEO of Volkswagen Chattanooga, thanked the workers for participating in the vote in the following statement.
“They have spoken, and Volkswagen will respect the decision of the majority,” said Fischer in a statement.
Of about 1,500 Volkswagen workers eligible to vote, 89% cast ballots between Wednesday and Friday night.
“We think it was unfortunate that there was outside influence,” said Gary Casteel, UAW regional director who led the unsuccessful campaign. “I want to urge the VW employees to go back to the business of building cars. There are some issues to be sorted out.
UPDATE II: From the Chatanooga Times Free Press: UAW President Bob Kingexpresses his disappointment of the vote.
UAW President Bob King said he was “deeply disappointed” by the outcome, but insisted that the union will regroup and consider its options, which may include a challenge to the results because of what he said was interference by Tennessee Republicans.
“To lose by such a close margin is very, very difficult,” King said. “We’re also outraged by the outside interference in this election. Never before in this country have we seen a U.S. senator, a governor and a leader of the Legislature threaten the company with incentives and threaten workers with a loss of product. That’s outrageous.”
Jack Nerad, executive market analyst of Kelley Blue Book, said UAW put a lot of work into trying to organize VW’s Chattanooga operation. He termed it “a publicity setback for certain.”
UPDATE III: And now for the most hypocritical “sour grapes” comment of the post vote outcome from the unions, they actually had the audacity to claim their were “outside outsiders trying to influence and intimidate VW workers.” Who are the outsiders UAW? That would be you, trying to come to a Southern, right to work state and causing chaos within a business that came to the state to operate and has been successful because they do not have to deal with unions. A note to the unions, Sen. Bob Corker is a Tennessee senator, whose job it is to represent the people of Tennessee. He is hardly an outsider. The UAW and Barack Obama are the outside “carpetbaggers”. Also, how comical is it for unions to call out others for intimidation … the UAW and other unions are infamous for intimidation and thuggery.
During three days of voting, the UAW repeatedly complained of outsiders trying to influence and intimidate VW workers into voting against joining the union.
One specific complaint involves Tennessee Senator Bob Corker, a Republican, and vocal critic of the UAW.
During the vote, Corker said he had been told by people close to Volkswagen that the German automaker would not bring production of a new vehicle to Chattanooga if workers rejected the union offer.
Radio Host Nancy Lane Fired From Her Job at Forever Broadcasting Because of Her Deranged Ex-husband … “Regrettably Recent Events Involving Your Former Husband has Caused Severe Disruption to our Business”
Imagine being fired from a job not because of your actions or poor performance, but instead because you have a lunatic, psycho, deranged ex-spouse.
Nancy Lane was best known as Daisy or Lexi and was a popular radio host on two of Forever Broadcasting’s stations, WFGI-FM, Froggy 95, and WRKW-FM, Rocky 99, in Johnstown, PA. That was until last Tuesday when she was fired. But she was not fired for her poor job performance, she was fired because of the actions of her lunatic ex-husband. Her former husband, George Lane, has in recent months threatened Nancy, her family and her co-workers. Now. his actions have caused her to be fired. Nancy Lane said, “It’s defeating to me that my job now has been let go because of violent acts of a person who is clearly of not right mind and not right demeanor. Now another facet of my life is affected by this.”
Nancy Lane (Image source: Screen grab via WJAC-TV) - click on pic for VIDEO
Nancy Lane told WJAC-TV that the past several years have been difficult on her, but things have amplified in the past few months with her ex-husband allegedly making violent threats against her and her former employer, Forever Broadcasting.
“Not only has my personal life been greatly affected and influenced, terror, fear, all of that, but I’ve worked very hard as a person in the public eye to maintain a certain reputation and now that’s been stripped from me as well,” she said.
Lane, who had a show on two Forever Broadcasting stations in Johnstown, says the termination letter she received — and partially read aloud to WJAC-TV — doesn’t mention poor performance as a factor in letting her go.
“Regrettably recent events involving your former husband has caused severe disruption to our business and has made this decision necessary,” the letter said, according to Lane.
This is so wrong that some one would be fired from their job because of some one who is a deranged lunatic and no longer even a part of one’s life. Nancy Lane is a victim of an abusive and crazy ex-husband, yet her employer is punishing her for it.
Another Abysmal Jobs Report … Only 113,000 jobs Created in January 2014 … Unemployment Rate Down to 6.7%
Obamacare, Obamanomics and Barack Obama’s disastrous redistribution policies continue to create uncertainty and poor jobs reports …
January’s Jobs report shows that a meager 113,000 jobs were created, falling far below forecasters’ predictions of 185,000 new jobs. How are jobs supposed to be created in an environment where Barack Obama and his minions cause uncertainty and pass so many regulations on business that it makes it impossible? According to how the administration talks about Obamacare, no one has to work anymore, they got their Obamacare and subsidies.
Our plan is working perfectly to transform America into a third world country
The U.S. economy added just 113,000 jobs in January, a small improvement over December’s disappointing report but not nearly enough to signal a much-needed rebound in the increasingly unpredictable U.S. labor market.
The number of jobs created fell well below forecasters’ predictions of 185,000 new jobs.
The headline unemployment rate was 6.6%, according to figures released by the U.S. Labor Department, down from 6.7% in the prior month.
From CNBC: Stocks Fall on poor jobs report.
U.S. stock-index futures turned higher, reversing course on losses that came in the immediate aftermath of the January jobs report, with fewer Americans finding work in January than estimated, but the unemployment rate fell.
“Mitigating some of these negatives is the unemployment rate ticked a bit lower and the labor participation rate ticked up. Both of those are good things,” said Chris Gaffney, senior market strategist at EverBank.
The government reported the creation of 113,000 jobs in January versus expectations of 185,000. The jobless rate fell to 6.6 percent versus an expectation of 6.7 percent.
Among the major worker groups, the unemployment rates for adult men (6.2 percent), adult
women (5.9 percent), teenagers (20.7 percent), whites (5.7 percent), blacks (12.1 percent),
and Hispanics (8.4 percent) showed little change in January. The jobless rate for Asians
was 4.8 percent (not seasonally adjusted), down by 1.7 percentage points over the year.
(See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more), at 3.6 million,
declined by 232,000 in January. These individuals accounted for 35.8 percent of the
unemployed. The number of long-term unemployed has declined by 1.1 million over the year.
(See table A-12.)
Check out what the REAL Unemployment rate looks like.