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Israel Stocks: Tel Aviv shares gain as data show cooling economyIsrael stocks close higher, led by gains in the banking and real-estate sectors, as investors parse a report showing that the country’s economic growth slowed in the second quarter.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 5:12 pm People's United shares could rise 20 percent: reportNEW YORK (Reuters) - Shares in People's United Financial Inc , which has dodged the credit crisis by avoiding subprime loans and is now eyeing acquisitions, could gain around 20 percent, Barron's reported in its August 25 edition.Source: Reuters: Business News | 24 Aug 2008 | 5:10 pm Gas prices down for the 38th day in a rowGasoline prices fell Sunday for the 38th straight day, bringing down the nationwide average in a motorist group survey by more than 42 cents overall.Source: Business and financial news - CNNMoney.com | 24 Aug 2008 | 5:01 pm Barron's upbeat on power company FirstEnergyNEW YORK (Reuters) - Power utility operator FirstEnergy Corp is likely to gain more profit next year due to its clean-burning nuclear plants and improved efficiency, which could help lift its dividend and share price, Barron's reported in its August 25 edition.Source: Reuters: Business News | 24 Aug 2008 | 4:12 pm Lehman CEO Fuld faces internal effort to oust him: reportRichard Fuld, the embattled chief executive of investment firm Lehman Brothers, is reportedly facing an internal campaign to force him out by the end of the year.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 4:12 pm Chuck Jaffe: Market-timing scandal taught fund industry a valuable lessonBOSTON (MarketWatch) -- Five years ago next week, the mutual fund world was rocked by the biggest scandal in the industry's 80-year history.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 4:03 pm NewsWatch: Big upward GDP revision doesn't mean economy is healthyThe economic optimists will get a cheer from some of the economic data in the coming week, but on the whole, the numbers should point to an economy that’s still mighty troubled.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 4:00 pm Bernanke looks for new regulatory approach (Reuters)
Source: Yahoo! News: Business | 24 Aug 2008 | 3:56 pm Bernanke looks for new regulatory approachJACKSON HOLE, Wyoming (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke's suggestion that financial supervision be revamped to take into account the health of the entire system is a logical response to recent market turmoil, but may be a difficult concept to execute.Source: Reuters: Business News | 24 Aug 2008 | 3:55 pm Economist sees new, uncertain stage for financial crisisAt the annual Federal Reserve seminar, one economist predicts a a new phase for the financial crisis that will likely bring total credit losses above $1 trillion, while another criticizes the Fed's actions to deal with the turmoil.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 3:49 pm Whatever happened to ...?Home of the Week updates PhotosSource: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 3:16 pm Whatever happened to ...?Home of the Week updates PhotosSource: L.A. Times - Business | 24 Aug 2008 | 3:16 pm Poll fears ahead of Democratic conventionObama supporters fear Clintons may steal expected opinion poll boost from presidential conventionSource: FT.com - US homepage | 24 Aug 2008 | 2:50 pm Oil: Biggest drop in 17 yearsOil prices plummeted Friday, erasing the previous session's spike, as the dollar strengthened and investors worried that a decline in demand will spread outside the United States.Source: Business and financial news - CNNMoney.com | 24 Aug 2008 | 2:02 pm Economic Preview: Big upward GDP revision doesn't mean economy is healthyThe economic optimists will get a cheer from some of the economic data in the coming week, but on the whole, the numbers should point to an economy that’s still mighty troubled.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 1:56 pm NewsWatch: Stocks to focus on financials, housing dataStocks next week will take their cues from fresh data on housing and consumption, while the fate of mortgage giants Freddie Mac and Fannie Mae, as well as the future of investment firm Lehman Brothers, will likely keep investors on their toes.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 1:00 pm Calif. won't probe NY Sen. Schumer over IndyMacRead full story for latest details.Source: Business and financial news - CNNMoney.com | 24 Aug 2008 | 1:00 pm These homes for sale stinkMold, maggots and piles of festering trash - no wonder home prices are in freefall.Source: Business and financial news - CNNMoney.com | 24 Aug 2008 | 12:29 pm Paulson's Fannie-Freddie fixThe market is betting Henry Paulson is about to put on his black hat again. But the Treasury secretary may not be so easily typecast in the saga of the government-sponsored mortgage finance companies.Source: Business and financial news - CNNMoney.com | 24 Aug 2008 | 12:20 pm Apple (AAPL): The iPhone Heads To Russia
A market source told Reuters Mobile TeleSystems, Russia's largest carrier, had agreed with Apple to sell iPhones, probably starting in October. The move is a critical one for Apple. While the iPhone is readily available in the US and Europe, it will never have significant global market share if it does not do well in India, Russia, China, and Latin America. The handsets are available in these regions, but they are "unlocked" versions which are not offered by a specific carrier which has a sales franchise from Apple. A year ago, it would have been impossible to imagine that Apple could sell 20 million iPhones a year. That would still only be about 15% of the global annual units sales for Motorola (MOT), but the iPhone has a much higher price per handset than cell phones from other manufacturers. Skeptics have said that the iPhone could never take the place of the iPod as a huge source of revenue for Apple. It may turn out that the assumption is wrong. Douglas A. McIntyre Source: 24/7 Wall St. | 24 Aug 2008 | 12:08 pm Property sector points to deepening downturnSavage housing market downturns have dragged the US, UK, Ireland and Spain to the brink of recession. Data released this week will highlight how weakness across property sectors is continuing to erode...Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 11:41 am BE backer 'proposes Centrica tie'One of the largest shareholders in nuclear power generator British Energy calls for it to merge with Centrica, it is reported.Source: BBC News | Business | World Edition | 24 Aug 2008 | 11:39 am United Air to charge for meals in coach on some overseas flightsUnited Airlines will test the next cost-saving measure for airlines: charging for meals on some international economy-class flights.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 10:26 am Kuwait's NBK opens first branch in DubaiThe National Bank of Kuwait, the Gulf emirate's largest bank, announced on Sunday the opening of its first branch in the booming emirate of Dubai. NBK Chief Executive OfficerSource: Infocious RSS raw feed - channel BNewsBusiness | 24 Aug 2008 | 9:42 am Australia approves Chinalco stake in Rio TintoSYDNEY (Reuters) - Australia has approved Chinese aluminum giant Chinalco's recent purchase of a minority stake in Anglo-Australian miner Rio Tinto , but warned the Chinese firm against buying more shares without prior approval.Source: Reuters: Business News | 24 Aug 2008 | 9:37 am College chiefs seek to reopen debate on U.S. drinking age of 21A group of college chancellors and presidents is seeking to reopen the debate about the U.S. drinking age of 21, saying that it has prompted a “culture of dangerous, clandestine binge drinking” on and off campus.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 9:36 am Siege threat to India's Nano car plantPolice on Sunday surrounded the Indian plant slated to produce the world's cheapest car as activists prepared for a siege protest aimed at forcing Tata Motors to return the site to local...Source: Infocious RSS raw feed - channel BNewsBusiness | 24 Aug 2008 | 8:48 am View of economy somber from Fed mountain retreatJACKSON HOLE, Wyoming (Reuters) - A towering grizzly bear guards the doorway to the Federal Reserve's annual policy retreat in this Teton Mountain resort, serving a reminder to central bankers of the battle to sooth the credit crunch.Source: Reuters: Business News | 24 Aug 2008 | 8:27 am Australia approves Chinalco stake in RioSYDNEY (Reuters) - The Australian government approved on Sunday the purchase of up to 14.99 percent of the shares in Rio Tinto Ltd by China's state-owned Aluminium Corp of China (Chinalco).Source: Infocious RSS raw feed - channel BNewsBusiness | 24 Aug 2008 | 8:10 am BHP eyes 10% yearly growthMining giant BHP Billiton expects to grow production volumes over the next year by 10% despite slowing Chinese demand.Source: BBC News | Business | World Edition | 24 Aug 2008 | 8:00 am Kuwait launches IPO for third mobile companyKuwait on Sunday launched an initial public offering (IPO) for the emirate's third mobile phone company which is expected to start operating later this year, officials said. ...Source: Infocious RSS raw feed - channel BNewsBusiness | 24 Aug 2008 | 7:42 am New boss at German tyre firmTyre maker Continental names its new chief executive following the resignation of the previous man in the post.Source: BBC News | Business | World Edition | 24 Aug 2008 | 7:25 am No down payment? Still no problem -- at least for nowDesperate Southern California home builders are in full liquidation mode, as signs dotting the back roads of Hemet attest.Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am Mother of four is stretched to the limit financiallyGovernment and private assistance programs may help fill the gap until fortunes improve.Dear Liz: I am 40, the mother of four children and recently separated from an abusive husband. The children and I live in a $700-a-month rental home. My income after taxes and deductions is $738 biweekly. My husband earns too little to contribute to child support. I'm also in night school earning a degree in marketing. I'm trying to make ends meet by shopping thrift stores for furniture and clothes and buying store-brand groceries. But I seriously wonder whether I can make it. My biggest fear is that I'll worry about money so much that I have a heart attack and my husband gets custody of the children. I've never been on my own and I just want this to work. Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am Answers, not IOUs, for Social SecurityW hatever happened to Social Security? Take our pollSource: L.A. Times - Business | 24 Aug 2008 | 7:00 am Cellphones may make wallets obsoleteThe financial functionality of mobile phones is poised to explode.Ever write a check while shopping and sweat over whether the check would clear? A growing number of banks are offering a new and fairly painless way to eliminate the guesswork. Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am How I Made It: Richard David and Mark Held of Mark's GardenThe gig: Co-owners of Mark's Garden floral shop in Sherman Oaks, which is known for its work on weddings, including those of Avril Lavigne, Gwen Stefani, Heidi Klum and, last weekend, Ellen DeGeneres...Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am How I Made It: Richard David and Mark Held of Mark's GardenThe gig: Co-owners of Mark's Garden floral shop in Sherman Oaks, which is known for its work on weddings, including those of Avril Lavigne, Gwen Stefani, Heidi Klum and, last weekend, Ellen DeGeneres. Since the business opened in July 1993, the team has worked on each post-Academy Awards Governor's Ball. The shop handles more than 100 daily orders with eight delivery trucks, 45 full-time employees and a multimillion-dollar annual budget for flowers.Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am Teacher needs financial educationDebt threatens Gayla Baker's goals: to buy a home, pay for her two sons' schooling and secure her retirement. ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am Real estate appraisers still feel pressured to inflate valuations-- Have the real estate valuation shenanigans and inflated home appraisals that characterized the boom years disappeared from the marketplace?Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am The Millard House: A rare example of Frank Lloyd Wright's textile-block designNatural light streams through the open floor plan of La Miniatura in Pasadena La Miniatura -- built in Pasadena...Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am Cellphones may make wallets obsoleteThe financial functionality of mobile phones is poised to explode. Ever write a check while shopping and sweat...Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am Real estate appraisers still feel pressured to inflate valuations-- Have the real estate valuation shenanigans and inflated home appraisals that characterized the boom years disappeared from the marketplace?Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am Buy a model home now, live in it laterEager to buy a place in paradise but not interested in moving just yet? Then you might want to take advantage of a little-known opportunity to buy now and occupy later.Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am Avoid account inactivity for extended periodsIf you don't initiate a transaction, the account is considered dormant under most state laws. After three years of inactivity, your assets typically can be turned over to the stateWhen Valorie Golin went to visit her parents in March, the first thing she did was get into their bank accounts. Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am The Millard House: A rare example of Frank Lloyd Wright's textile-block designNatural light streams through the open floor plan of La Miniatura in Pasadena PhotosLa Miniatura -- built in Pasadena in 1923 -- is remarkable, even by Frank Lloyd Wright standards. One of only four of the famed architect's local textile-block designs, this renovated home is considered by some to be the most romantic of that style, which features an open floor plan, a seamless indoor-outdoor flow and roof terraces for outdoor living, popularized in the early 20th century. Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am Avoid account inactivity for extended periodsIf you don't initiate a transaction, the account is considered dormant under most state laws. After three years of inactivity, your assets typically can be turned over to the state ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am Teacher needs financial educationDebt threatens Gayla Baker's goals: to buy a home, pay for her two sons' schooling and secure her retirement.Gayla Baker teaches special education to troubled young people at a state correctional facility, and she expects her students to be disciplined about their studies and their behavior. Source: L.A. Times - Business | 24 Aug 2008 | 7:00 am Answers, not IOUs, for Social SecurityW hatever happened to Social Security?Source: Infocious RSS raw feed - channel BNPaperBusiness | 24 Aug 2008 | 7:00 am ECB's Trichet says still in market correctionJACKSON HOLE, Wyoming (Reuters) - European Central Bank President Jean-Claude Trichet on Saturday defended central bank responses to the financial turmoil that has roiled global markets for the past year and warned the storm is not over.Source: Reuters: Business News | 24 Aug 2008 | 4:46 am Obama picks Biden as running mate, adding foreign policy heftPraising his running mate as a man who “brought change to Washington, but Washington hasn’t changed him,” Democratic presidential candidate Sen. Barack Obama introduced Sen. Joseph Biden as his selection for vice president Saturday on the very spot where Obama began his campaign 19 months ago.Source: MarketWatch.com - Top Stories | 24 Aug 2008 | 2:00 am Chavez reopens talks after seizing Mexican cement firmPresident Hugo Chavez said he agreed to reopen negotiations with Cemex at the urgings of Mexican President Felipe Calderon, after he nationalized the Mexican cement company for resisting...Source: Infocious RSS raw feed - channel BNewsBusiness | 24 Aug 2008 | 1:49 am Miner BHP Billiton sees 10 pct output growth in 08/09SYDNEY (Reuters) - Mining giant BHP Billiton expects to grow its production volumes over the next 12 months by 10 percent despite some softening in demand from its biggest growth driver,...Source: Infocious RSS raw feed - channel BNewsBusiness | 24 Aug 2008 | 1:37 am Nice idea, shame about the sales figuresThe high street is haunted by the ghosts of concepts that failed to capture the public's imaginationSource: Telegraph Business | 24 Aug 2008 | 12:01 am Grant Thornton tax partner set for election as London Lord MayorIan Luder, a tax partner at Grant Thornton, is poised to become the next Lord Mayor of the City of London.Source: Telegraph Business | 24 Aug 2008 | 12:01 am Sunday share tips: Cobham has gone great guns - do not surrender your holding quite yetIf the September 11 terrorist attacks didn't convince you, or the war in Iraq, then recent events in the Caucasus should really wake you up to the fact that the world isn't really a very safe place.Source: Telegraph Business | 24 Aug 2008 | 12:01 am British Energy shareholder pushes for Centrica mergerThe biggest institutional shareholder in British Energy is demanding a merger between the nuclear power generator and Centrica, the owner of British Gas, as the "obvious solution" to the future of both companies.Source: Telegraph Business | 24 Aug 2008 | 12:01 am Ex-FSA boss Tiner courts old foe SmithAN investment firm advised by John Tiner, the former head of the City regulator, has approached Collins Stewart about a potential takeover of the broking firm chaired by Terry Smith.Source: Telegraph Business | 24 Aug 2008 | 12:01 am Currys owner switches on to megastore warJames Hall travels to Norway to find out how the electricals chain aims to counter US giant Best Buy.Source: Telegraph Business | 24 Aug 2008 | 12:01 am Sir John Parker leads race to chair Anglo AmericanSir John Parker, one of Britain's most senior industrialists, is being lined up to take the helm of Anglo American, the FTSE 100 mining group, The Sunday Telegraph has learned.Source: Telegraph Business | 24 Aug 2008 | 12:01 am The next credit crisis timebomb could be the credit cards you carryMalcolm Hurlston, chairman of the Consumer Credit Counselling Service (CCCS), has spotted an uncomfortable trend. "This half-year we've seen a substantial and sudden uplift in demand for advice on unsecured debt problems," he said.Source: Telegraph Business | 24 Aug 2008 | 12:01 am Property tycoon in £2.5bn dealGlenn Maud, one of Britain's most secretive property tycoons, is working on an urgent £2.5bn refinancing plan after one of his funds breached banking covenants.Source: Telegraph Business | 24 Aug 2008 | 12:01 am Government's £100bn gilts sale will underline borrowing fearsThe Government will be forced to sell an unprecedented £2bn of gilts every week next year in the latest sign that borrowing is spiralling out of control, experts have warned.Source: Telegraph Business | 24 Aug 2008 | 12:01 am Indian car factory faces 'siege'A factory which aims to build the world's cheapest car in India faces an open-ended protest over a land dispute.Source: BBC News | Business | World Edition | 23 Aug 2008 | 11:52 pm ECB's Trichet says still in market correction (Reuters)
Source: Yahoo! News: Business | 23 Aug 2008 | 11:19 pm People’s Bank of China takes stake in PrudentialCHINA’s central bank has secretly amassed a stake in Prudential, the Britain’s second-biggest insurer.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm UK plc is running out of reasons to be cheerfulIt has been one of the oddities of this August that while two-thirds of the City is on holiday abroad, back home it has been frenetic on the company reporting front. It’s all down to the new European transparency directive, which requires all companies to produce their half-yearly results within two months of that period ending.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm NM Rothschild called in to save estate agent FoxtonsTHE private-equity owner of estate agent Foxtons has appointed the investment bank NM Rothschild to review the business just one year after buying the company.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm Bruised bears maul the bullsTERRY SMITH, chief executive of the broker Tullett Prebon, sat in his City office earlier this month, taking the measure of the credit crisis.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm Taxpayers face £1bn Northern Rock lossTaxpayers stand to lose at least £450m on the nationalisation of Northern Rock, according to warnings from the government’s own advisers. Goldman Sachs told the Treasury in February that losses to the public purse could stretch to £1.28 billion even in benign market conditions, leaked court documents have revealed.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm Plan for trustee to oversee sale of BAA airportsThe Competition Commission is considering appointing a special trustee to auction three BAA airports, a move that would take control of the sell-off out of the airport group’s hands.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm No rate cuts likely before end of yearThe Bank of England will move only slowly to cut interest rates, in spite of new official figures showing that Britain’s economy has ground to a halt.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm Electric sports car to be made by Tesla Motors in UKA SILICON VALLEY start-up company is to begin UK production of its £92,000 electric sports car.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm South African firm line up car glass company Auto WindscreensTHE South African wind-screen-replacement firm Glasfit is thought to be one of a handful of parties in talks to acquire Auto Windscreens, the British repair company, from Aviva, the insurer.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm Malcolm Walker pushes for Woolworths bid talksThe founder of the Iceland food chain, Malcolm Walker, would slash overheads and considerably narrow the product range in order to revive Woolworths, should he succeed in his attempt to buy the beleaguered high-street retailer.Source: Latest Business News from Times Online | 23 Aug 2008 | 11:00 pm U.S. official: Growth to slow after stimulus fadesJACKSON HOLE, Wyoming (Reuters) - U.S. consumer spending will tail off as the effects of government rebates to taxpayers wear off, hurting economic growth in the second half of the year, the director of the Congressional Budget Office said on Saturday.Source: Reuters: Business News | 23 Aug 2008 | 10:57 pm U.S. official: Growth to slow after stimulus fadesJACKSON HOLE, Wyoming (Reuters) - U.S. consumer spending will tail off as the effects of government rebates to taxpayers wear off, hurting economic growth in the second half of the year,...Source: Infocious RSS raw feed - channel BNewsBusiness | 23 Aug 2008 | 10:57 pm View of economy somber from Fed mountain retreat (Reuters)
Source: Yahoo! News: Business | 23 Aug 2008 | 10:55 pm Obama introduces Biden as running mateBarack Obama introduced Joe Biden as his vice-presidential running mate at a rally in Springfield, Illinois, declaring the veteran senator and foreign policy expert a statesman and a fighterSource: FT.com - US homepage | 23 Aug 2008 | 10:13 pm Chavez boosts Venezuela's petrochemical sectorPresident Hugo Chavez said Saturday he has injected close to one billion dollars in Venezuela's petrochemical industry to turn it into the second-largest producer of polyethylene behind...Source: Infocious RSS raw feed - channel BNewsBusiness | 23 Aug 2008 | 9:57 pm Ex-BOE official says Fed rate cuts went too far (Reuters)
Source: Yahoo! News: Business | 23 Aug 2008 | 7:09 pm Ex-BOE official says Fed rate cuts went too farNEW YORK (Reuters) - The Federal Reserve's decision to cut interest rates in response to the U.S. financial market crisis of the past year is a bad mistake that will lead to higher inflation, a former Bank of England official said on Saturday.Source: Reuters: Business News | 23 Aug 2008 | 7:09 pm ECB's Trichet says still in market correctionJACKSON HOLE, Wyoming (Reuters) - European Central Bank President Jean-Claude Trichet on Saturday defended central bank responses over the past year to the financial turmoil that has roiledSource: Infocious RSS raw feed - channel BNewsBusiness | 23 Aug 2008 | 6:41 pm Bernanke says inflation outlook "uncertain"JACKSON HOLE, Wyoming (Reuters) - Federal Reserve Chairman Ben Bernanke on Friday said the stronger dollar and lower oil prices, along with the weak economy, should curb inflation, in a...Source: Infocious RSS raw feed - channel BNewsBusiness | 23 Aug 2008 | 5:58 pm Overseas buyers home inInternational buyers are snatching up New Zealand property as the dollar drops, banks lower interest rates and the market reaches realistic prices. Alistair Helm of realestate.co.nz says the surge is encouraging for sellers and...Source: New Zealand Herald - Business | 23 Aug 2008 | 5:00 pm Fran O'Sullivan : Hobbled by state's handThe Dunes Symposium is one of those all-too-rare opportunities for up-and-coming business leaders to take a couple of days out from the coalface and concentrate on the public policies that are needed to make New Zealand hum. It's...Source: New Zealand Herald - Business | 23 Aug 2008 | 5:00 pm Bernard Hickey : End the giant rental property tax breakIt is the elephant in the room of New Zealand politics. Everyone knows it, yet our leaders refuse to address it, partly because they and their generation benefited personally through the massive house price inflation it created. I'm...Source: New Zealand Herald - Business | 23 Aug 2008 | 5:00 pm Top tips : Government's new research and development tax credit regimeSusan Tremlett, senior manager of taxation services at BDO Spicers Auckland, answers questions about the Government's new research and development tax credit regime. What does the research and development (R&D) tax credit regime...Source: New Zealand Herald - Business | 23 Aug 2008 | 5:00 pm Martin Hawes : Invest in big stories to make a killingWhen I think of making an investment, I give it the "Aston Test". Aston is my 1-year-old grandson and the "Aston Test" is whether, in 20 years with the benefit of hindsight and the arrogance of youth, he will think the investments...Source: New Zealand Herald - Business | 23 Aug 2008 | 5:00 pm 24/7 Wall St. Most Overpaid CEO Of The Day: Ford (F) CEO Alan Mulally
Alan Mulally was to be Ford's savior, replacing Bill Ford who could not get from the front door of the Ford headquarters to his Lincoln in the parking lot without a guide. According to the last Ford proxy, Mulally has a base salary of $2 million. In 2007, his total compensation was over $21 million. Ford's defense of Mulally's pay is likely to be that the entire industry is in trouble. The logic for that is thin. CEO compensation rarely ignores outside forces, even if those forces are overwhelming. Pay for performance is just that. Ford's stock is down 40% over the last two years. Another year of Mulally making $20 million would be inappropriate. It would also cost Ford shareholders money that the company does not have. Unless, that is, the government gets them that $50 billion. Douglas A. McIntyre Source: 24/7 Wall St. | 23 Aug 2008 | 4:37 pm Craig McIvor: When recession strikes, discipline keeps the sales comingSales are the lifeblood of any company and for many companies across New Zealand over the past few months, their life is being sucked from them. As a result, right now, right around the country, a very important meeting is taking...Source: New Zealand Herald - Business | 23 Aug 2008 | 4:30 pm
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Ford (F) came within a nickel of its 52-week low yesterday, hitting $4.35. News also came out that the US car companies will urge Congress to support funding up to $50 billion in low-interest loans over three years. Perhaps the Big Three should go into the banking business. The federal support would be forthcoming more quickly.