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by Mike Krumboltz

2008 was an interesting year. Few could have predicted that the stock market would tank, Barack Obama would win the presidency, and, most shockingly, Guns 'N Roses would (finally!) release Chinese Democracy. In fact, most of the predictions from 2008 were amazingly wrong. The Buzz is full of articles recapping the worst (i.e., least accurate) predictions from last year. Read 'em and weep...

AIG's stock is poised to soar (and other unfortunate predictions).
Business Week hosts an article on some of the worst financial predictions from 2008. We know that hindsight is 20/20, but still these are pretty bad. Among the many gems...
• The National Association of Realtors declared that "Existing-Home Sales to Trend Up in 2008." Perhaps their graph was upside down?
• In July, President Bush said he believed the economy was growing. The opposite turned out to be true, as a recession was already well underway.
• A Wall Street analyst proclaimed that AIG "could have huge gains in the second quarter." A few months later, the U.S. government would take over the troubled company.

Why even play the season? Nobody can stop the Patriots.
Real Clear Sports picks through all the athletic predictions of 2008 and came up with a stellar list.
• A columnist from the Chicago Sun-Times wrote that "no opponent in the solar system" will beat the New England Patriots. The Pats went on to miss the playoffs despite an 11-5 record.
• A writer from the New York Post wrote that the Tampa Bay Rays wouldn't make the playoffs. The Rays not only made the playoffs, but went all the way to the World Series before falling to the Phillies.
• The Dallas Morning-News declared that Tony Romo's broken finger would actually help the Cowboys. The crystal ball must be quite cloudy in Big D, because "America's Team" collapsed without their dreamy QB.

Bad news for psychics. Good news for the rest of us.
Psychics are paid to look into the future, and some of those predictions are pretty glum. Live Science recapped five professional predictions that we should all be glad didn't come true.
• Elizabeth Anglin, a "gifted psychic," predicted that a swarm of locusts would destroy wheat crops. As far as we know, the wheat continues to grow. Take that, Elizabeth!
• A "psychic medium" named Michael R. Smith predicted that "a major supervolcano is poised to erupt, sending ash all over the Earth, affecting world-wide political and economic systems." There was a lot of hot air from political pundits in 2008, but none of it was deadly.
• According to a scholar, Nostradamus predicted that a global famine would kill millions in 2008. Live Science notes that while the cost of food soared in 2008, a global famine "simply, and thankfully, didn't come true."

by Claudine Zap

Living on a Prayer — and a Party
It's not often that the pant-suited Hillary Clinton and hotpants Jon Bon Jovi get mentioned together. But if you're a fan of both, you're in luck: The rocker is going to perform at a Hillary Clinton fundraiser to help put to bed the millions she owes from her failed presidential bid. In case you think Bon Jovi is playing favorites, he actually held an Obama fundraiser at his New Jersey home last year and lashed out at Republicans for using one of his songs.

Bruce Springsteen Gets His Game On
If sports and Springsteen are more your thing, tune in for the Super Bowl halftime show. In fact, the Super Bowl is searching for a couple thousand fans to be on the field while the Boss performs. (Haven't you wondered who those people on the field are who magically materialize for the music portion of the big game?) Let's just hope there are no wardrobe malfunctions this year.

She's Not Going
Contrary to the rumors, Jennifer Hudson will not be singing at Barack Obama's Inauguration. The former American Idol finalist performed at Obama's acceptance address at the Democratic National Convention, and reports had suggested she would be at Obama's swearing-in. But since the star suffered the tragic loss of her mother, brother, and nephew, she has chosen to stay off stage.

by Vera H-C Chan

The Search investigation continues into the $50-some billion fraud perpetuated by Bernard L. Madoff Investment Securities LLC, but the money trail will take months to track down.

Staffers of the Securities and Exchange Commission (whose chief faced a crabby Congress this week to explain the government agency's failing to do its job) have until Jan. 16 to turn in all their Madoff-related records, but a report sifting out the various conflicts o' interest will take months. Meanwhile, the more than 8,000 claim forms sent to Madoff clients won't be due until March 4 and July 2.

Figuring out who was swindled is a bit easier. The scam's jaw-dropping breadth has kept people searching for not only the man who perpetrated the scheme, but also the "madoff victims." The Wall Street Journal is keeping a running list and Clusterstock even put together a slideshow to put a face to the fleeced.

There is some good news, such as it is: Some losers are revising their estimated losses, because the profits in their accounting books never really existed. Here are, so far, the victims in one of history's biggest financial scams, and a few who might win out:

• Luminaries
Aside from hedge funds and banks, the undoing of the super-rich has captivated interest that has positively verged on smug. Newsweek in particular described Madoff's Palm Beach crowd as "European industrialists, South American socialites, well-connected American business people" who sought admission to a "hoity toity club." Run-of-the-mill royalty (e.g., Lord Jacobs of Belgravia) and politicans (e.g., Senator Frank Lautenberg) got took as well. Among the truly super rich, L'Oreal heiress Liliane Bettencourt still will probably get to keep her title as the world's wealthiest woman. So far, however, a Boston philanthropist Carl Shapiro unluckily leads the list of individuals.

• Do-Gooders
As noted in an earlier Buzz Log, do-gooders like university endowments, charities, foundations and even cities suffered greatly. That in turn has had a wrenching ripple effect on social programs in cities across America. The cruelest cut? Fortune magazine suggests that the classic Ponzi scheme actually depends on stowing the fake money in charities, since they don't often withdraw their funds.

• Watchdogs
All heads of the five SEC commissioners could roll, given the current Congressional mood. In the meantime, the SEC Inspector General David Kotz promised to investigate all conflicts of interests. The one getting the most press and Search curiosity: the marriage between Madoff's niece and a former SEC compliance official, who allegedly had their relationship after the bureaucrat left the agency. That's not the only government agency facing a big slog: The IRS will have to contend with misled investors who must endure a prolonged process to declare losses on their tax returns.

• Investors Who Cashed Out
Clients who think they got out in the nick of time may find bad news: Newsweek cites a court ruling last October in a similar case that declared investors—innocent or not—had to give back their profits and their principal if "there was evidence that they got out because they suspected, or had been warned, that there was something amiss."

• The Madoffs
Only Bernard L. Madoff has been charged, but all his associates and family members are being probed. Even if they ultimately are found in a court of law to have nothing to do with their patriarch's scheme, they won't likely be able to escape the taint.

Winners: A Much Shorter List 
Doubtless, there will be those who benefit from the scandal, whether they deserve to or not. For instance, Friehling & Horowitz, under intense investigations and Search scrutiny as Madoff's auditing firm, has clearly stated for the past 15 years that it does not actually do audits. Could incompetence be the best defense? Investigations will tell.

• The "I-Told-You-So" Whistleblower: Boston financial fraud investigator Harry Markopolos warned the SEC repeatedly for nearly nine years, albeit to no avail.
• Hollywood: Yes, actors Kevin Bacon and Kyra Sedgewick got taken, but books are in the works, and surely a movie will soon follow.
• Lawyers: Well, of course. Milberg LLP, the class-action king among law firms until a 2006 scandal, may find redemption in its multiple cases against Madoff. So far, the firm represents more than 100 of the fleeced.
• The Victims Themselves: How could this be possible, given some were retirees whose entirely lifeline was erased? Time magazine found a spirited response among Madoff investors not just to fight for their money back, but to step back and fight for a better system. Hell hath no fury like an investor scammed.

by Claudine Zap

Here's what is buzzing.

1. Rebecca Romijn (+5,460%). The "Ugly Betty" star spurred look-ups on the announcement that she birth to twin girls.
2. Waterford crystal (+957%). The iconic maker of luxe crystal has come crashing down with the economic slowdown, declaring bankruptcy. Apparently there is less of a pressing need for fine tableware during bad financial times.
3. Whale shark (+707%). This rare breed was accidentally caught in a fishing net in Malaysia. The 23-foot-long shark was towed to shore but died of its injuries.
4. Malia and Sasha Obama (+408%). The first daughters caught buzz for their first day at Sidewell Friends, their new school. The day included Secret Service agents and an international media frenzy. And you thought your first day of school was hard.
5. Macworld 2009 (+269%). The convention — the last for Apple — launched today without its most notable keynote speaker: Apple CEO Steve Jobs. That didn't stop Mac fans from searching for any new product announcements.

by Mike Krumboltz

Barack Obama has a big job ahead of him with a lot of responsibility and stress. Fortunately, there are perks, like a custom-built car that oozes machismo. Prototype photos of the president-elect's new limousine have hit the Web, and it makes Ah-nold's old Hummer look like a Miata.

An article from CNN explains that the car is technically a Cadillac. However, it has a lot more in common with a bomb shelter on wheels. The custom-built Caddy will transport Mr. Obama on Inauguration Day and, we presume, will also serve as his main set of wheels while cruising around town.

The Detroit News writes that General Motors, which owns the Cadillac brand, has been making presidential limos since 1983, when they "wrestled the job away from Ford." Assuming the finished product looks like the leaked photos, their newest limo has to be the most impressive one yet.

What sort of features does the car boast? Hand-stitched leather, run-flat tires, kick-butt communication features, bulletproof glass, and absolutely horrible gas mileage. According to CNN, many car enthusiasts "believe the overweight vehicle burns diesel" and will be far from the most efficient car on the road. Perhaps that's due to the car's weight. A piece from NBC adds that the car's armor is "reportedly at least 5 inches thick."

Hmm, maybe he'll score a hybrid if he wins a second term.

by Claudine Zap

Elections. They used to be so simple. Candidates campaigned, voters voted, and the winners headed to Washington.

Not anymore. These days, losers file lawsuits, campaigns are for suckers, and the hottest ticket in town is an appointed seat, if you can get it. Even though Congress kicked off its 111th session with Dick Cheney leading a swearing-in ceremony, there were some conspicuous absences from major states. Here's where they stand.

New York: Can Caroline Kennedy Make It Here?
Yes, there are other candidates in the running for Hillary Clinton's soon-to-be vacated Senate seat. But do they have the name Kennedy? We didn't think so. Media attention, for good or not, goes to the Camelot heir-apparent, and nobody else. The New York Times even ran a story that dismissed the other non-Kennedy candidates as "Whatsisname." Kennedy is having troubles of her own. A poll shows her losing public favor since she announced her candidacy. (Her poor syntax, vague policy prescriptions, and presumption haven't helped.) Gov. Paterson, the audience of one who makes the selection for the remaining Senate term, has chosen to take his time. He has said he won't choose a successor for Clinton's seat until she's confirmed as Secretary of State, which could be in a few weeks .

Illinois: No Seat for You
As it's made clear in New York, it's hard to pick the right person for the Senate job. So you could always ask for someone to pay you for it. Rod Blagojevich, the big-haired, tough-talking governor of Illinois, is now infamous for his taped convos in which he discussed trading the appointment of Obama's vacant Senate seat for a price. Even after the information went public, the governor just won't go away. Instead of resigning in shame, the guv instead appointed the former attorney general Roland Burris to fill the seat. The Democrats had vowed not to accept any appointment by the tainted Illinois governor. When the 71-year-old former attorney general showed up for the Senate swearing-in, he was told his paperwork wasn't in order, and was denied from taking a seat.

Minnesota: A Real Squeaker
The one state with the empty seat that had an honest-to-goodness election to decide the results fell into a quagmire of its own. First there was a recount between the incumbent Norm Coleman and the Democratic challenger, former comedian Al Franken. The count lurched back and forth by a few hundred votes, in a tale that included lost ballots, contested ballots, and finally, a certified winner: Al Franken. With 3 million ballots cast, it shows at least, as E! Online put it, " 225 people like him more than the other guy." But the story doesn't end there. (Of course it doesn't.) Coleman has vowed to contest the result in court. Franken can't be seated until the legal battle is over and the governor issues an election certificate.

by Claudine Zap

Your daily bit of buzz.

1. Macbook wheel (+475%). The Onion's approach to a new, fake Apple product: a useless computer that has no keyboard. If you don't like it, you're clearly getting in the way of human history.
2. FBI jobs (+2,050%). If you're one of the recently unemployed, or just like the idea of being a g-man or woman, check out the FBI's major hiring blitz.
3. Old Spaghetti Factory (+285%). To celebrate the restaurant chain's 40th anniversary, prices on complete meals will be at special, low old-timey rates.
4. Dianne Feinstein (+285%). The California senator broke with Democratic party leaders over the seating of Roland Burris. Feinstein said that the Senate should accept the appointment, despite it coming from the tainted Illinois governor.
5. Quick easy healthy recipes (+113%). It's diet season and searches on diets, diet foods, and diet devices such as the bodybugg are causing a feeding frenzy on the Web.

by Mike Krumboltz

When you're young and in love, you can do some pretty dramatic things. Such was the case with two German lovebirds who decided to run away and get married in Africa. The hitch: they're five and six years old.

Fortunately, their safety was never an issue. They were "caught" at the local train station by police and returned to their parents. Folks have been viewing the story of Mika and Anna-Lena as an adorable case of puppy love rather than a terrifying "My God, where are the children!" cautionary tale.

BBC hosts an entertaining recap of the mad dash to romance. Apparently, the twosome packed bathing suits and sunglasses and invited Anna-Lena's seven-year-old sister as a witness. They apparently aroused the suspicion of a local police officer, who assured the trio that they wouldn't get very far without tickets and money.

The blog Lil' Sugar explains that the kids, who said they are "very much in love," came up with the plan while their parents partied on New Year's Eve. Early the next morning, the adventure began. Jezebel and Neatorama also picked up on the story. Both blogs note that a police spokesman said that while they're a little young to be tying the knot now, "they can still put their plan into action at a later date."

All together now: Awwwwww.

by Vera H-C Chan

Come rain, sleet, or bad economy, the wedding will still go on. Like Pacific gray whales heading to Mexico, brides-to-be are migrating toward the Web to seek inspiration, deals, and um, prenups.

An iron vein of pragmatism runs through otherwise ivory-laced visions of wedding planning. Searches on Yahoo! for "prenuptial agreements" have percolated recently, a tender topic explored at a time when people are already feeling raw over the economy. The potentially affianced are checking for "free nuptial agreements," "sample nuptial agreement," and "prenuptial agreements checklist." While Askmen takes on a more protect-thyself-against-the-vultures tone, some may be considering if the whole concept's a bad idea ("prenuptial agreement negatives," "bad influence of prenuptial agreements") because it offers a pre-arranged escape route rather than locking couples into a I-do-or-die mindset.

As for those escape routes, some are reviewing pay-out clauses, which subs in a lump-sum cash-out rather than monthly alimony in an event of a divorce, and the infidelity dealbreaker. (Much more pragmatic than the prenups used as a kind of glorified new-life-resolutions package, like lose 50 pounds or no marital relations.)

While SFGate reported last year that "no reliable figures" exist for prenup popularity (and after all, marriage itself has been on the decline for decades), but couples are getting hitched at an older age, may have had a marriage or two already in their personal resume, and so have more assets to protect. Ultimately, though, prenups may just be one way for otherwise dreamy-eyed couples to reconcile their financial compatibility before the reality of the first credit card bill. A slightly romantic alternative that a handful have been exploring in Search: "irrevocable trust alternative to prenuptial."

In less pessimistic news, far more searches have spiked for more ceremonial fare, including "wedding venues" (+669%), "wedding cake designs" (+558%), and, naturally attracting the most online attention, the all-important bridal "wedding dress." The most popular outfit? Cheap, followed by Vera Wang-designed, Hawaiian-style, strapless, and black. Check out what other wedding-related searches have been stewing this past week:

by Claudine Zap

Psst. Hey, you. Keep it quiet because this is very hush-hush: The FBI is looking for special agents — 850 of them to be exact. If you've always wanted to carry a badge and a gun, wear a trench coat, or at the very least one of those cool FBI windbreakers, perhaps you should see if you have what it takes.

Okay, so it's not exactly a secret that the FBI is going on the biggest hiring blitz in years — looking to fill 3,000 total positions. If you're not cut out for the special agent job, consider accounting or computer science: They need loads of those types, too.

In fact, searches on "FBI jobs" have spiked over 2,000% in the past day. Potential applicants also looked up "FBI" and "fbijobs.gov," on word that this is one of the few major organizations to be actively recruiting. With a gloomy job report expected on Friday, this might be a small silver lining.

Another place that's hung a "hiring" sign on the door is the Obama transition team. While it seems the president-elect announces a new appointment almost daily, there are plenty of workaday positions that they need to run this thing. Unfortunately, this is not an idea that has gone unnoticed, so expect competition to be stiff. According to an Obama official, "There are about 364,000 people who have applied right now for maybe 7,000 political jobs in the administration."

Sure, a job search is a gamble. And how are your craps skills? If they're good, you may consider jobs in Vegas, baby. A new joint venture between MGM Mirage and the Dubai government is creating new buildings and new jobs. According to US News.com, 12,000 people are needed in areas like "hotel operations, casino operations, security, and more." Come to think of it, they may be looking for some undercover agents, too.