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Brazil's Lula calls for shake-up of global financeSAO PAULO (Reuters) - Brazil's president called on Saturday for an overhaul of the global finance system that "collapsed like a house of cards" in the credit crisis and said emerging powers must have more say in key decisions.Source: Reuters: Business News | 9 Nov 2008 | 11:31 am Roche sticks by $43.7 billion Genentech bid: report (Reuters)
Source: Yahoo! News: Business | 9 Nov 2008 | 11:01 am Roche sticks by $43.7 billion Genentech bid: reportZURICH (Reuters) - Roche Holding AG is sticking by its $43.7 billion offer to buy out the rest of Genentech Inc it does not already own, its pharmaceuticals chief said in an interview published on Sunday.Source: Reuters: Business News | 9 Nov 2008 | 11:01 am Twenty die in Russian nuclear sub accidentTwenty people died and more than 20 were injured in an accident aboard a Russian nuclear submarine in the Pacific Ocean, the navy said on Sunday, in the worst submarine disaster since the Kursk sank eight years agoSource: FT.com - US homepage | 9 Nov 2008 | 10:44 am Emerging economies want new roleWorld finance chiefs look to give a bigger voice to emerging nations as part of reforms to tackle the current crisis.Source: BBC News | Business | World Edition | 9 Nov 2008 | 9:26 am Tips for bidding on a foreclosureStrategies for buyers Foreclosed properties are piling up faster than they can be sold, but that doesn't mean buyers can snap up a great house with little effort. Quality properties in good locations now draw multiple offers when priced right. Here are some tips for extracting gems from the rubble.Source: L.A. Times - Business | 9 Nov 2008 | 8:00 am Is that a housing market bottom or a mirage?Is it pointless to ask whether a bottom is near?Source: L.A. Times - Business | 9 Nov 2008 | 8:00 am IRS rule could sap retirees' already depleted savingsRegulation requiring withdrawals from IRAs and 401(k)s by those over 70-1/2 add insult to stock market injury.The shaky economy and plunging stock market are leading many Americans to cut back on their spending. Source: L.A. Times - Business | 9 Nov 2008 | 8:00 am Is that a housing market bottom or a mirage?Is it pointless to ask whether a bottom is near?Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am Tips for bidding on a foreclosureStrategies for buyers Foreclosed properties are piling up faster than they can be sold, but that doesn't mean buyers can snap up a great house with little effort. Quality properties in good locations...Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am How I bought a foreclosed houseThere were pitfalls on the the way, but an L.A. Times reporter found that research, strategy and being free of loan baggage helped. ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am IRS rule could sap retirees' already depleted savingsRegulation requiring withdrawals from IRAs and 401(k)s by those over 70-1/2 add insult to stock market injury. ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am Here's your tutu, Mr. GovernorSchwarzenegger discovers budget reality a bit lateJust four years ago, Gov. Arnold Schwarzenegger wagged his finger at the Republican National Convention and declared, "To those critics who are so pessimistic about our economy, I say: 'Don't be economic girlie men!' " Source: L.A. Times - Business | 9 Nov 2008 | 8:00 am Does paying old debts help credit score?If you have debts that went to collection agencies, the damage has already been done. You'll help your score more by paying off current balances first, ahead of old debt. ...Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am Here's your tutu, Mr. GovernorSchwarzenegger discovers budget reality a bit late Just four years ago, Gov. Arnold Schwarzenegger wagged his...Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am Lenders push for fresher 'comps' in home valuationsSales may be knocked off track as appraisals come in lower than contract prices. How fresh are your "comps" --...Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am Kosher treats with a French flavorThe gig: Owner of Delice Bakery, a French-style kosher bakery that opened on Pico Boulevard in 2001, and owner of Delice Bistro, which opened next door this year and features French and organic kosher...Source: Infocious RSS raw feed - channel BNPaperBusiness | 9 Nov 2008 | 8:00 am Does paying old debts help credit score?If you have debts that went to collection agencies, the damage has already been done. You'll help your score more by paying off current balances first, ahead of old debt.Dear Liz: Over the last year, I have been trying to identify and pay off old debts by getting copies of my credit reports. I've been attacking these old bills one at a time while also sending in extra payments to bring down my credit card balances so that only 10% to 20% of the credit limits are being used. How long will it take before I see my credit score start to go up? Source: L.A. Times - Business | 9 Nov 2008 | 8:00 am Lenders push for fresher 'comps' in home valuationsSales may be knocked off track as appraisals come in lower than contract prices.How fresh are your "comps" -- the comparable sales of properties used as benchmarks in home real estate appraisals? Buyers and sellers rarely had to be concerned about such a question -- or even understand it -- when values were on the upswing. Source: L.A. Times - Business | 9 Nov 2008 | 8:00 am How I bought a foreclosed houseThere were pitfalls on the the way, but an L.A. Times reporter found that research, strategy and being free of loan baggage helped.I did not set out to buy a foreclosed house. ¶ Earlier this year, I wrote about selling my condominium unit in 2005 to rent, rejecting the hyped promise of an always-rising real estate market. Now I've purchased a foreclosed home -- but that doesn't mean I've bought into the new wave of hype in real estate, the idea that cheap, repossessed houses are a sure bet. ¶ There's usually good reason many foreclosed houses languish with no buyers. They may be badly damaged or situated in places that seemed attractive only in the frenzy of a real estate bubble. ¶ The foreclosure inventory is loaded with properties far from job centers, stripped or even vandalized by previous owners or in abandoned developments with no parks, schools or even neighbors nearby. ¶ As a result, finding a decent house amid the wreckage of the real estate crash can be a long, tedious process. Then, actually buying one can also be tricky. When a foreclosed house in good shape and in a desirable location gets to market, it often attracts multiple offers, even in this struggling real estate market. Source: L.A. Times - Business | 9 Nov 2008 | 8:00 am Hong Kong property prices slashed in global slowdownThe global financial crisis is rapidly stunting Hong Kong's office, luxury and residential property markets after they hit a peak in the early summer. The window displays at...Source: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 6:21 am Economic Preview: Worst retail sales trend since 1974 expectedThe recession, persistent distress in the housing and financial markets and mounting job losses will demand the president-elect's attention, even as immediate remedies may prove elusive.Source: MarketWatch.com - Top Stories | 9 Nov 2008 | 5:01 am Deutsche Post to curtail U.S. expansion: WSJ (Reuters)Reuters - Deutsche Post AG (DPWGn.DE), the German parent of delivery company DHL, is expected to announce on Monday that it will sharply curtail its planned U.S. expansion, The Wall Street Journal reported on its Web site on Saturday.Source: Yahoo! News: Business | 9 Nov 2008 | 4:51 am Deutsche Post to curtail U.S. expansion: WSJNEW YORK (Reuters) - Deutsche Post AG , the German parent of delivery company DHL, is expected to announce on Monday that it will sharply curtail its planned U.S. expansion, The Wall StreetSource: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 4:51 am Deutsche Post to curtail U.S. expansion: WSJNEW YORK (Reuters) - Deutsche Post AG , the German parent of delivery company DHL, is expected to announce on Monday that it will sharply curtail its planned U.S. expansion, The Wall Street Journal reported on its Web site on Saturday.Source: Reuters: Business News | 9 Nov 2008 | 4:51 am No-nonsense banker at helm of Pakistan's economyKARACHI (Reuters) - Shaukat Tarin, Pakistan's top economic official, is known as a hard-headed straight-talker who loves a challenge.Source: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 4:01 am No-nonsense banker at helm of Pakistan's economyKARACHI (Reuters) - Shaukat Tarin, Pakistan's top economic official, is known as a hard-headed straight-talker who loves a challenge.Source: Reuters: Business News | 9 Nov 2008 | 4:01 am Brazil's Lula calls for shake-up of global financeSAO PAULO (Reuters) - Brazil's president called on Saturday for an overhaul of the global finance system that "collapsed like a house of cards" in the credit crisis and said emerging powersSource: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 3:47 am Brazil's Lula calls for shake-up of global finance (Reuters)
Source: Yahoo! News: Business | 9 Nov 2008 | 3:47 am Smurfit-Stone Unveils Three New Machines From Meta(R) Packaging Equipment Line at Pack Expo InternationalCHICAGO, Nov. 8 /PRNewswire-FirstCall/ -- Smurfit-Stone Container Corporation's Automated Packaging Systems Group (Nasdaq: SSCC) will unveil three new machines from...Source: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 3:43 am Retailer Li & Fung to layoff staff, cut costsHONG KONG (Reuters) - Hong Kong-based consumer goods exporter Li & Fung Ltd has imposed a hiring freeze, will lay off some employees and reduce travel and other expenditure due to the...Source: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 3:29 am Retailer Li & Fung to layoff staff, cut costsHONG KONG (Reuters) - Hong Kong-based consumer goods exporter Li & Fung Ltd has imposed a hiring freeze, will lay off some employees and reduce travel and other expenditure due to the global financial crisis.Source: Reuters: Business News | 9 Nov 2008 | 3:29 am Retailer Li & Fung to layoff staff, cut costs (Reuters)Reuters - Hong Kong-based consumer goods exporter Li & Fung Ltd (0494.HK) has imposed a hiring freeze, will lay off some employees and reduce travel and other expenditure due to the global financial crisis.Source: Yahoo! News: Business | 9 Nov 2008 | 3:29 am HBOS rejects Scottish ex-bank chiefs bid to block dealLONDON (Reuters) - Britain's biggest home lender HBOS rejected on Saturday a proposal from the former heads of Royal Bank of Scotland and Bank of Scotland to block its government-brokeredSource: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 3:03 am HBOS rejects Scottish ex-bank chiefs bid to block dealLONDON (Reuters) - Britain's biggest home lender HBOS rejected on Saturday a proposal from the former heads of Royal Bank of Scotland and Bank of Scotland to block its government-brokered takeover by Lloyds TSB .Source: Reuters: Business News | 9 Nov 2008 | 3:03 am Rio Tinto eyes joint ventures with China: reportLONDON (Reuters) - Global miner Rio Tinto is looking to establish joint ventures with companies backed by the Chinese government, such as Chinalco, its chief executive was quoted as saying...Source: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 3:02 am Rio Tinto eyes joint ventures with China: reportLONDON (Reuters) - Global miner Rio Tinto is looking to establish joint ventures with companies backed by the Chinese government, such as Chinalco, its chief executive was quoted as saying in Britain's Observer newspaper on Sunday.Source: Reuters: Business News | 9 Nov 2008 | 3:02 am Rio Tinto eyes joint ventures with China: report (Reuters)Reuters - Global miner Rio Tinto is looking to establish joint ventures with companies backed by the Chinese government, such as Chinalco, its chief executive was quoted as saying in Britain's Observer newspaper on Sunday.Source: Yahoo! News: Business | 9 Nov 2008 | 3:02 am Economic powers agree on need to boost growthSAO PAULO (Reuters) - The world's leading economies, including emerging powers like China, agreed on Saturday on the need to take measures to stimulate growth and fight off the threat of a global recession.Source: Reuters: Business News | 9 Nov 2008 | 1:07 am Brazil demands sweeping global financial overhaulBrazil's president on Saturday demanded that major reforms of the international financial system include strong input from large emerging nations and said the collapse of modern banking...Source: Infocious RSS raw feed - channel BNewsBusiness | 9 Nov 2008 | 1:06 am Economic powers agree on need to boost growth (Reuters)
Source: Yahoo! News: Business | 9 Nov 2008 | 12:40 am Bernard Hickey: Now there's work to be doneThe winners of this weekend's election must answer some big questions being asked by investors and borrowers. Here are the top five questions as I see them: What can be done about high mortgage rates? The fixed mortgage...Source: New Zealand Herald - Business | 9 Nov 2008 | 12:00 am Bank of England fires its biggest salvoFor days the expectation had been building that the Bank of England’s monetary policy committee (MPC) would do something out of the ordinary. Since the global financial crisis erupted into its deadliest phase in September, after the bankruptcy of Lehman Brothers, MPC members had had only one chance to respond to its sudden and damaging impact on Britain’s economy.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Rivals call for EDF sell-offEDF could be forced to sell several UK power stations to get approval from the European Commission for its £12 billion takeover of British Energy (BE).Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Motor groups plead for aidBRITAIN’s beleaguered carmakers are to ask Lord Mandelson, the business secretary, for a package of measures to help boost demand and safeguard manufacturing jobs.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Anger as backdated rate bills threaten port firmsUP to 500 ports companies face an uncertain future after being hit with unexpected backdated rates bills. They have been sent the demands, which in some cases run into millions of pounds, after a rerating of their premises that has been backdated three years.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Viridian sale fearsTHE Bahrain investment group Arcapita could scrap the €2 billion (£1.6 billion) auction of Viridian, Northern Ireland’s main energy company, if it fails to agree a price with RWE.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Land Securities drops demerger as losses soarLAND SECURITIES is expected to lay bare the full extent of the commercial-property bloodbath this week when it puts plans for a demerger on ice and unveils a shock 20% drop in the net value of its assets.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Italy next to bail out banksTHE Italian government is this weekend working on plans to pump as much as €20 billion (£16 billion) into its biggest banks and could take large shareholdings in some institutions.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Call for Alistair Darling to cut Vat to 12.5% to boost economyTHE chancellor should think about a temporary cut in Vat from 17.5% to 12.5% to help the economy through the recession, according to a report to be published this week.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Sudden exit for Rentokil chiefANDREW MACFARLANE, the financial director of pest-control company Rentokil, is leaving the firm just seven months into the troubled company’s five-year turnround plan.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Lloyds TSB’s secret £10bn loan to HBOSLLOYDS TSB is secretly providing financial support to HBOS through a £10 billion loan facility, in a covert agreement between the two banks.Source: Latest Business News from Times Online | 9 Nov 2008 | 12:00 am Zoellick sees need to 'modernize' global finance systemWith the global economy entering a "danger zone," key officials are nearing a consensus on the need to revamp the financial system, World Bank President Robert Zoellick said Saturday.Source: Infocious RSS raw feed - channel BNewsBusiness | 8 Nov 2008 | 11:06 pm Stunned Icelanders Struggle After Economys FallThe loss in Iceland after its economic collapse goes beyond the personal, shattering a proud countrys sense of itself.Source: Infocious RSS raw feed - channel BNPaperBusiness | 8 Nov 2008 | 10:51 pm NewsWatch: Top hedge fund managers 'funereal' in midst of financial crisisIn the midst of the worst financial crisis since the Great Depression, several top hedge fund managers sent a grim message to their investors in October: it isn't over.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 10:00 pm Democrats plead automakers' case to TreasuryDemocratic leaders in Congress take up the domestic automakers' plight with the Bush administration, asking for a financial lifeline for an industry battered by an historic drop in sales that has led to massive losses and job cuts.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 9:07 pm GM and Ford losses, cash burn direDETROIT (Reuters) - General Motors Corp and Ford Motor Co reported far deeper-than-expected quarterly losses on Friday and said their rate of cash burn had accelerated, as an extended slump in car sales raised questions about the future of the U.S. auto industry.Source: Reuters: Business News | 8 Nov 2008 | 8:45 pm Reid, Pelosi: Expand bailout to carmakersRead full story for latest details.Source: Business and financial news - CNNMoney.com | 8 Nov 2008 | 7:38 pm 2 more banks go belly-upThe tally of failed banks in 2008 rose to 19 as the government announced that a Texas and a California bank had been shuttered Friday night.Source: Business and financial news - CNNMoney.com | 8 Nov 2008 | 7:20 pm Credit Suisse reportedly shuts down bond fundSwiss bank Credit Suisse Group is shutting down a bond fund and its subfunds after their value was crushed by the global financial crisis, according to a published report.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 7:11 pm Bank duo oppose Lloyds-HBOS dealThe ex-chiefs of Bank of Scotland and Royal Bank of Scotland write to HBOS saying it should remain independent.Source: BBC News | Business | World Edition | 8 Nov 2008 | 6:25 pm World business leaders see more fiscal painBusiness leaders from around the globe gather in Dubai, warning more economic pain lies ahead though Barack Obama's victory in the U.S. presidential elections offers some hope, according to published report.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 6:17 pm OPEC says more cuts could be on the wayOPEC president Chakib Khelil reportedly says further cuts in oil output from the OPEC nations could be on the way if attempts last month to reduce production fail to halt the current plunge in crude prices.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 5:35 pm NewsWatch: Top hedge fund managers 'funereal' in midst of financial crisisIn the midst of the worst financial crisis since the Great Depression, several top hedge fund managers sent a grim message to their investors in October: it isn't over.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 5:00 pm Gas below $2.30Gasoline prices fell for the 52nd straight day, according a survey released Saturday by the motorist group AAA.Source: Business and financial news - CNNMoney.com | 8 Nov 2008 | 4:57 pm November layoffs hit every cornerThe first week of November has been brutal for the job market, with nearly 15,000 announced job cuts from a slew of companies across multiple industries.Source: Business and financial news - CNNMoney.com | 8 Nov 2008 | 4:40 pm Los Angeles-based Security Pacific Bank seized by FDICThe Federal Deposit Insurance Corp. and state regulators seize Los Angeles-based Security Pacific Bank -- one of two banks to fail Friday and the 19th to fail so far this year.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 4:04 pm Sale of the half-centuryTimes of recession see more homeowners forced out of the housing market _ but the downturn also presents opportunities for bullish investors with an eye to future capital-growth hot spots. The next group of people who make their...Source: New Zealand Herald - Business | 8 Nov 2008 | 4:00 pm Workers stash more extra cash than their managersWorkers' wages went up faster than their bosses' last year, the latest National Employers Wage and Salary survey shows. Benchmark positions such as senior management and second-tier managers' salaries increased by 4.5 per cent...Source: New Zealand Herald - Business | 8 Nov 2008 | 4:00 pm Top tips : Taking control of your career in tough timesPeter Kerridge and Chris Johnson, of Kerridge & Partners, on taking control of your career in tough times. How do I survive the current turmoil? The first thing to remember is good people are always in demand. Be proactive...Source: New Zealand Herald - Business | 8 Nov 2008 | 4:00 pm Next generation will do nicely thank youHaving grown up with almost everything handed to them on a plate, Gen Ys are generally thought of as being lazy, and don't see the value in paying their dues _ they know what they want and they want it all now. But as the table...Source: New Zealand Herald - Business | 8 Nov 2008 | 4:00 pm Martin Hawes : Try to stick with diversificationLast week a Herald on Sunday reader wrote: "Since paying off the mortgage on our Auckland home six years ago, we have saved cash in a savings account. We also have a retirement savings scheme through my employer where 4 per cent...Source: New Zealand Herald - Business | 8 Nov 2008 | 4:00 pm AIG in talks with government over new bailout -- reportAmerican International Group Inc. reportedly is seeking a new bailout from the U.S. government less than two months after the Federal Reserve came to the insurance giant's rescue with an $85 billion loan, according to a published report.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 3:49 pm Oil: $50 Or $100? Is Brazil The New Saudi Arabia?
The head of Saudi Aramco, the state-owned oil company, said that at current crude prices it does not make sense to spend large amounts of capital on new and potentially difficult exploration. Put another way, the single biggest oil-producing nation is not bringing in enough money to extend the life of its fields. According to Bloomberg, ``It is clear that collapsing oil prices are not only detrimental to the economies of oil-producing states but also to future upstream investments to sustain future oil demand consumption,'' Vienna-based consultant JBC Energy said in its weekly market report issued today. To offset the problem in Saudi Arabia, new fields of tremendous size would have to be discovered elsewhere. Brazil's newest oil find may end up yielding as much as 100 billion barrels. That is more than the current supply in Russia and almost as much oil in the ground as Kuwait currently claims. If Brazil can tap all of this crude it would make a significant increase to global supply a decade from now. According to the FT, Haroldo Lima, head of Brazil's oil industry regulatory body said, “Dimensions are so big that we still don’t have a good vision of what this means for Brazil." What it means is that Brazil is the new Saudi Arabia. Douglas A. McIntyre Source: 24/7 Wall St. | 8 Nov 2008 | 3:44 pm End-of-week stock rallySource: Business and financial news - CNNMoney.com | 8 Nov 2008 | 3:02 pm Al Gore: Web 2.0 can help save the planetSource: Business and financial news - CNNMoney.com | 8 Nov 2008 | 2:27 pm NewsWatch: Berkshire Hathaway quarterly net income falls 77%Berkshire Hathaway reports a 77% drop in third-quarter net income as the insurance-focused conglomerate recognizes more than $1 billion of unrealized derivative losses and paid hurricane claims.Source: MarketWatch.com - Top Stories | 8 Nov 2008 | 2:00 pm Low Cost Computing Poses Major Risk At PC & Tech Companies (DELL, HPQ, IBM, INTC, AMD, MU, STX, AAPL)
We have seen all the evidence we need to see from the likes of Intel Corp. (NASDAQ: INTC), Advanced Micro Devices (NYSE: AMD), Micron (NYSE: MU), Seagate Tech (NYSE: STX), and even out of Apple (NASDAQ: AAPL) to know about the slow PC season. This will be seen in the evidence below, but the rapid decline in orders from the end of September into October has been too difficult to not observe as the new climate for more than just a quarter. What has become more and more surprising, is the raw computing power which can be purchased for such little money for normal sized laptops and regular desktops including monitors. At first the "under $1,000" was the breach. Now there are many options for "under $500" and now even "under $400" is getting easier and easier to find. Here were some of the key deals we saw on Friday to show an example of what you literally drive or walk over to the technology retailers to buy:
Another review was given today of the four most popular ultra-portable and light mini-laptops called net-books was given by the WSJ's Walt Mossberg. We still consider this as a traveling worker or a semi-luxury items for those who want better web access and document access than a cell phone, but the costs in these items has come down to astronomical levels. Here is the cost and size of two of these models for a comparison in name brands:
So why do we feature sales items and prices of today? This is a simple issue. The consumer is in the toilet and can't use credit to go make big ticket items in the past. Joe Public is going into cheap-o mode in just about every part of consumer spending. So those in need of a new computer are going to buy lower cost replacement PC's now. Technology research firm Gartner has sharply cut its projections for global technology spending next year. Dell has announced layoffs, plant closures, and worker furloughs to cut and shave its costs. It looks like thousands of engineers, consultants, and employees at the EDS unit of HP are getting pink-slipped. Throw this in with what all the companies which supply processors, DRAM/SRAM, storage drive, graphics processors, and even screens and there is no way to expect the numbers to be good.
All of the financial stabilization efforts and whatever bailout add-ons will come are going to all take time to implement and to take hold. Credit is still elusive, jobs are still contracting, pay will go down as a result, and the consumer is still going to be spending less and less ahead. Buyers are also buying what they feel are the deals now rather than anything and everything they wanted in the past. So the super-computing power at prices this low combined with everything else is going to lead to a lousy outlook from these companies. This may not be the case perpetually. There are also many consumers who buy high-end systems. There are many that won't go to cheap or geared down models no matter what. But these computers being this powerful and at these sale prices are a good spyglass view of what to expect ahead. Many consumers will opt for lower-end models, and that in turn is likely to lead to lower margins for the PC companies and their major component suppliers for some time. It is becoming very clear that the business of making PC's and many computing devices is at serious risk of having the same upside as making toasters and microwave ovens.
Jon C. Ogg Source: 24/7 Wall St. | 8 Nov 2008 | 1:31 pm Circuit City (CC) Fires Hundreds Of Headquarters Staff
At the rate things are going at the electronics retailer, everyone left at the firm will be unemployed by Christmas. According to The Richmond Times-Dispatch, "It was a somber morning in Henrico County yesterday as several hundred newly fired Circuit City Stores Inc. employees carrying boxes streamed out of the company's headquarters." CC's stock trades at $.25. Douglas A. McIntyre Source: 24/7 Wall St. | 8 Nov 2008 | 1:03 pm
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