World Business News Headlines for November 12, 2008

Wall Street focus turns to auto industry rescue

US stocks were set for a flat start following two consecutive runs of losses as hopes that Washington may provide a fresh rescue package for the country's struggling carmakers tempered continued fears over the health of the economy
Source: FT.com - US homepage | 12 Nov 2008 | 1:55 pm

Macy's reports less-than-expected loss (Reuters)

Reuters - Department store operator Macy's Inc reported a quarterly loss on Wednesday as shoppers curbed spending and avoided all but the most crucial of purchases amid an expanding financial crisis.

Source: Yahoo! News: Business | 12 Nov 2008 | 1:53 pm

Stock futures drop after Best Buy slashes outlook

NEW YORK (Reuters) - Stock index futures dropped on Wednesday after Best Buy Co Inc , the largest U.S. electronics retailer, slashed its profit outlook, underscoring the strains confronting consumers and adding to fears of a deep economic slump.

Source: Reuters: Business News | 12 Nov 2008 | 1:51 pm

Stock futures drop after Best Buy slashes outlook (Reuters)

Reuters - Stock index futures dropped on Wednesday after Best Buy Co Inc , the largest U.S. electronics retailer, slashed its profit outlook, underscoring the strains confronting consumers and adding to fears of a deep economic slump.

Source: Yahoo! News: Business | 12 Nov 2008 | 1:51 pm

IBM Venturing Into Broadband Over Power Lines (IBM)

IBM (NYSE: IBM) is going into a new initiative, which is actually an old initiative which had been thought of as dead on arrival: Broadband Over Power Lines. Big Blue is partnering with International Broadband Electric Communications, Inc. to begin this.

The companies have signed a $9.6 million agreement to have IBM install Broadband over Power Line (BPL) networks at electric cooperatives throughout the eastern US. Its partner will focus on providing broadband services to underserved residents in rural America.

This initiative has been tested and tested, and theorized and theorized. But it seems that IBM will be the first of the major players to formally launch an effort beyond a test. It is a small event for IBM itself, but could be yet another form of broadband access for the people who live in rural America and in small remote communities.

This is still exclusionary to some though. They won't be able to connect the Amish to the world wide web.

Jon C. Ogg
November 12, 2008

Source: 24/7 Wall St. | 12 Nov 2008 | 1:51 pm

EU gets tough on credit agencies

The European Commission announces proposals for tougher regulation of credit rating agencies.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 1:49 pm

Best Buy: 'Most difficult climate we've ever seen'

Best Buy, the No. 1 electronics retailer, cut its full-year profit forecast Wednesday, citing continued weakness in consumer spending that it says has been exacerbated by the "recent turmoil in the financial markets."

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 1:44 pm

Home values drop for 7th straight quarter

NEW YORK (Reuters) - Home values in the United States posted their seventh consecutive quarterly decline, with nearly one-third of Americans who sold in the past year losing money, real estate website Zillow.com said on Wednesday.

Source: Reuters: Business News | 12 Nov 2008 | 1:42 pm

Oil hits 20-month low on demand fears

LONDON (Reuters) - Oil fell more than 2.5 percent to beneath $58 a barrel on Wednesday on expectations of weaker energy demand, before paring some of its losses after hints OPEC might consider another cut in oil production.

Source: Reuters: Business News | 12 Nov 2008 | 1:41 pm

Currencies: Pound tumbles as Bank of England revises outlook

An already-weakened British pound saw renewed pressure Wednesday after the Bank of England’s quarterly inflation report left the door open to further, aggressive rate cuts.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 1:40 pm

Macy's posts third-quarter loss, sales fall

NEW YORK (Reuters) - Department store operator Macy's Inc reported a quarterly loss on Wednesday as shoppers curbed spending and avoided all but the most crucial of purchases amid an expanding financial crisis.

Source: Reuters: Business News | 12 Nov 2008 | 1:39 pm

Arguments Still Valid Oil Will Go Back To $100

With oil moving in the direction of $50 a barrel, analysts keep moving their target price for crude lower.

The argument is simple. A huge global recession will undermine demand in the nations which consumer the most oil, particularly the US and China. Word of China's new $600 billion stimulus package was actually met with another drop in crude prices. Economists are that pessimistic about the medium-term prospects for the mainland.

The minority report on oil prices is compelling although it has been lost in the excitement about gasoline prices moving back toward $1.

OPEC nations are now become "poor", at least by their standards. Iran and Venezuela are actually desperate for cash to fund national deficits. The cartel will almost certainly be forced to cut supply at the rate at which demand is falling, and perhaps by a greater amount.

The International Energy Agency today reported that oil consumers are asleep at the wheel. The economy will recover in a year or two and the financial incentives for crude producers to find more oil are going away due to the low price of the commodity and the fact that new reserves are harder to find and more expensive to drill.

According to the AP, and higher oil prices, but the agency stressed that a delay in spending on new projects due to the credit crisis could lead to a "supply crunch that could choke economic recovery."

"The IEA has nearly doubled its forecast for the price of oil over the next twenty years, because of rising demand in the developing world as well as surging costs of production as oil needs to be sourced from more expensive offshore fields and state-run companies."

Douglas A. McIntyre

Source: 24/7 Wall St. | 12 Nov 2008 | 1:38 pm

BOE signals further rate cuts; slashes inflation, growth view

The Bank of England won’t shy away from further cuts in its key lending rate again as it prepares for a further contraction in economic growth and forecasts for consumer price inflation to fall far below its 2% annual target, Governor Mervyn King said Wednesday.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 1:38 pm

London Markets: Shares in London higher, investors eye more rate cuts

London shares move lower on Wednesday, with losses for the mining sector offsetting another strong performance from Vodafone Group.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 1:37 pm

Best Buy cuts fiscal 2009 profit outlook (AP)

AP - Electronics retailer Best Buy Co. says it is sharply cutting its fiscal 2009 earnings outlook below analyst estimates amid what the company called the toughest retail environment it has ever seen.
Source: Yahoo! News: Business | 12 Nov 2008 | 1:35 pm

Economic woes increase, crisis deals in trouble

LONDON (Reuters) - A number of deals designed to cure the global financial crisis were in danger of unraveling on Wednesday, with losses mounting at banks and economies showing further signs of serious deterioration.

Source: Reuters: Business News | 12 Nov 2008 | 1:32 pm

Economic woes increase, crisis deals in trouble (Reuters)

Reuters - A number of deals designed to cure the global financial crisis were in danger of unraveling on Wednesday, with losses mounting at banks and economies showing further signs of serious deterioration.

Source: Yahoo! News: Business | 12 Nov 2008 | 1:32 pm

Earnings Watch: Updates, advisories and surprises

A roundup of the latest corporate earnings reports and what companies are saying about future quarters.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 1:31 pm

Best Buy slashes profit outlook

CHICAGO (Reuters) - Best Buy Co Inc slashed its fiscal 2009 profit forecast on Wednesday driven by weak consumer spending trends heading into the crucial holiday selling season.

Source: Reuters: Business News | 12 Nov 2008 | 1:29 pm

Best Buy slashes profit outlook (Reuters)

Reuters - Best Buy Co Inc slashed its fiscal 2009 profit forecast on Wednesday driven by weak consumer spending trends heading into the crucial holiday selling season.

Source: Yahoo! News: Business | 12 Nov 2008 | 1:29 pm

Robert Peston

Is taxpayer-funding of banks to be the new norm?
Source: BBC News | Business | World Edition | 12 Nov 2008 | 1:25 pm

Best Buy, Worst Buy (BBY)

Best Buy Co., Inc. (NYSE:BBY) has issued an earnings warning this morning. The electronics and home appliances retailer is noting a fall in consumer spending, driven by the recent turmoil in the financial markets and other macro economic factors. It has also noted how the uncertainty regarding future consumer spending has limited its ability to project revenue for the critical holiday shopping season and the balance of the fiscal year.

It is echoing what has been seen elsewhere: a rapid drop and change in spending habits has taken place since mid-September. It has even gone on to note that this has created the most difficult climate that the company has ever seen.

It also can not adjust fast enough to maintain earnings momentum and it is beginning to adjust its cost structure.

The sales numbers look atrocious and show that no place is immune right now. The company's total comparable store sales fell by roughly -7.6% for October after a modest comparable store sales decline for September. The company is also expecting a sharp drop ahead with comparable store sales for the four months remaining in fiscal 2009 (NOV-08 to FEB-09) could drop to -5% to -15% and now expects that annual comparable store sales will show a decline of -1% to -8%.

The rising dollar is also expected to lower the international numbers. The company said the low end of its range for the year is now $2.30 EPS and $43.7 billion in revenues. Its prior range was $3.25 to $3.40 EPS.

The good news is that this gives a P/E ratio of roughly 10-times based on yesterday's close. If you like low P/E's that will be even lower now that shares are down 14% pre-market at $20.40. The recent lows of the 52-week trading range are $20.00, down from a high of $53.90.

For whatever this is worth, the Houston Galleria location looked pretty dead this last Saturday.

Jon C. Ogg
November 12, 2008

Source: 24/7 Wall St. | 12 Nov 2008 | 1:20 pm

Stocks set for a lower open

U.S. stocks appeared to be headed for a lower open Wednesday, after a volatile morning of pre-market trading and two straight days of stock market losses, as investors struggled with their concerns about the economy.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 1:20 pm

Sun gambles big as outlook darkens

Struggling tech giant looks to two pizza-loving whizzes to help turn the company around.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 1:19 pm

American Express seeks $3.5B from feds - report

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 1:19 pm

Before the Bell: Best Buy, Macy's, JA Solar in the spotlight

U.S. stock futures veered between gains and losses Wednesday morning, with Best Buy becoming the latest firm to issue a profit warning at a time of growing fears over the health of financials and automakers.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 1:16 pm

Indications: U.S. stock futures turn lower as Best Buy warns

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 1:13 pm

Pelosi calls for US auto bail-out

House of Representatives Speaker and leading Democrat Nancy Pelosi calls for a bail-out of the US auto industry.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 1:10 pm

Movers & Shakers: Wednesday's biggest gaining and declining stocks

Among the companies whose shares are expected to see active trade in Wednesday’s session are American Express, ARYx, Exelon, Nice and NRG.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 1:10 pm

Wall St. Gets Ready For GM (GM) Bailout And Disappointment

GM's (GM) shares are up almost 15% to over $3.25 on new hope and old rumors that the government will bailout the company. Both Obama and a number of members of Congress are pushing for Treasury to put $25 billion into the troubled car maker.

What investors may be missing is that a huge package will probably included preferred shares. GM's current market cap is only $1.7 billion. That means common shareholders will probably be wiped out and can watch their stock go to $.25.

Douglas A. McIntyre

Source: 24/7 Wall St. | 12 Nov 2008 | 1:07 pm

Bank of England signals more rate cuts as economy shrinks

LONDON (Reuters) - The British economy will shrink sharply next year and inflation will tumble, the Bank of England predicted on Wednesday, suggesting that it will cut interest rates even below their current half-century low.

Source: Reuters: Business News | 12 Nov 2008 | 1:07 pm

GM up as investors bet bailout is likely

NEW YORK (Reuters) - Shares of Dow component General Motors surged in premarket trade on Wednesday as investors bet that a government bailout was increasingly likely.

Source: Reuters: Business News | 12 Nov 2008 | 1:05 pm

GM up as investors bet bailout is likely

NEW YORK (Reuters) - Shares of Dow component General Motors surged in premarket trade on Wednesday as investors bet that a government bailout was increasingly likely.
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:57 pm

Bank of England signals more rate cuts as economy shrinks (Reuters)

Reuters - The British economy will shrink sharply next year and inflation will tumble, the Bank of England predicted on Wednesday, suggesting that it will cut interest rates even below their current half-century low.

Source: Yahoo! News: Business | 12 Nov 2008 | 12:51 pm

Bank of England signals more rate cuts as economy shrinks

Bonds rise despite bailout momentum

Demand for U.S. Treasurys remained high Wednesday, even as a bailout of the auto industry and a second stimulus package gained government support.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 12:47 pm

UPDATE 2-Maersk 9-mth net profit beats market expectations

COPENHAGEN, Nov 12 (Reuters) - Danish shipping and oil group
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:42 pm

Qualcomm (QCOM) Means To Bring The Internet To The World

It may be a way to make money, but it could also change the dynamics of how tens of millions of people get information about the outside world.

Qualcomm (QCOM) announced a new PC alternative to make high-speed wireless Internet access more widely available and affordable in emerging markets. The Kayak PC alternative leverages the widespread availability of 3G wireless broadband to bring Internet connectivity to markets where wired Internet access has often been difficult to access or unaffordable. The Kayak PC alternative fills the niche that exists between desktop PCs, which normally require landlines or separate accessories for connectivity, and Internet- capable wireless devices.

"The broad footprint of 3G networks means that wireless is the answer to Internet access for worldwide markets -- especially in emerging regions," said Luis Pineda, senior vice president of marketing and product management for Qualcomm CDMA Technologies

Perhaps for QCOM, doing well means doing good.

Douglas A. McIntyre

Source: 24/7 Wall St. | 12 Nov 2008 | 12:36 pm

UPDATE 1-DONG says to be careful with projects as Q3 surges

* Says global turmoil may also create M&A opportunities
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:35 pm

Oil slips below $59 on growth pessimism

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 12:33 pm

HK Exchange profit down 43% on falling equities trade

Hong Kong Exchange reports its profit fell 43% as the global financial crisis hit stock trading, with the company calling for renewed efforts to bring confidence to the market.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 12:28 pm

AmEx seeks $3.5 billion from government: report

(Reuters) - American Express Co, the No. 4 U.S. credit card issuer, is seeking about $3.5 billion in tax-payer funded capital from the U.S. government, the Wall Street Journal said, citing people familiar with the situation.

Source: Reuters: Business News | 12 Nov 2008 | 12:24 pm

IEA warns of new oil supply crunch

Investment in new oil supply is already falling short and risking a supply crunch that would be worse than the problems that pushed oil prices to $147 a barrel this summer, the International Energy Agency said.
Source: FT.com - US homepage | 12 Nov 2008 | 12:22 pm

Glass makers hit with huge fine

Four car glass makers have been hit with the European Commission's highest cartel fine after "cheating" car buyers.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 12:22 pm

Cost of crude rising to $200 by 2030

Read full story for latest details.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 12:09 pm

FBR sees Fannie Mae losing $20-$40 billion in next 4 quarters

(Reuters) - Fannie Mae , once a mortgage giant, could post losses totaling $20 billion to $40 billion in the next four quarters, as elevated credit costs continue to hurt the company's...
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:07 pm

FBR sees Fannie Mae losing $20-$40 billion in next 4 quarters

(Reuters) - Fannie Mae , once a mortgage giant, could post losses totaling $20 billion to $40 billion in the next four quarters, as elevated credit costs continue to hurt the company's capital position, an analyst at FBR Capital Markets said.

Source: Reuters: Business News | 12 Nov 2008 | 12:07 pm

Top 10 Early Bird Analyst Upgrades & Downgrades (BBBY, BTI, PAG, VRTX, MT, STD, CRXL, FMCN, MR, OWW)

These are the ten early bird analyst upgrades and downgrades we have seen early this morning with two and a half hours until the market opens:

Bed Bath & Beyond Raised (BBBY) Raised to Neutral from Sell at Goldman Sachs.
British American Tobacco (BTI) Raised to Buy at Goldman Sachs.
Penske Automotive (PAG) Raised to Buy at Goldman Sachs.
Vertex Pharmaceuticals (VRTX) Started as Buy at piper Jaffray.
Arcelor Mittal (MT) Cut to Sell from Buy at5 Citigroup.
Banco Santander (STD) Cut to Underweight at JPMorgan.
Crucell (CRXL) Cut to Hold at ING.
Focus Media (FMCN) Downgraded at Citigroup and Goldman Sachs (likely others as well).
Mindray Medical International (MR) Downgraded at Citigroup and Goldman Sachs.
Orbitz Worldwide (OWW) Cut to Sell at Goldman Sachs.

Jon C. Ogg
November 12, 2008

Source: 24/7 Wall St. | 12 Nov 2008 | 12:06 pm

UPDATE 2-BTG H1 net recurring royalties up 25 pct

* H1 net recurring royalty revenue up 25 pct to 15.1 mln
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:03 pm

The Gathering Storm: The Human Face Of The Growing Financial Disaster

At the beginning of every alarming recession the question
gets raised whether this one is the next "Great Depression".

The personal answer is "yes" for the millions of people who have lost
jobs and homes. Their collective numbers have not yet created that
mass effect of tens of millions which would move unemployment to 20% and
allow the coroner to pronounce his sentence.

Some of the financial leaders who are considered smart
are now talking about the current and upcoming period as
worse than the recessions of 1987, 1998 or 2001.
John Thain, the CEO of Merrill Lynch (MER) during its last
months of independence until the credit crisis forced it into
the hands of a bank, describes his view of this time as
"the global economy is in a deep slowdown and will
not recover quickly, and the environment recalls 1929, the
advent of the Great Depression." Since he is too young to have
been a player even in the recession of 1987, it
is hard to imagine how he can have the right perspective.to
make predictions about the Great Depression.

The situation which has frightened so many financiers
is that this storm is so savage in its early stages that
they are left to wonder how it will look at its peak fury.
It is not hard to imagine with unemployment rising
at the current rate that it could make it to 10%. It
is feared but not imaginable that joblessness could go
much higher. Contemplating that is just too overwhelming.

The other part of the calamity which almost no one
can reasonably imagine is that the world's governments
and central banks may have no real impact on this economic
crisis, no matter how much money they commit to solving
the problem. The commitments to save the financial,
infrastructure and housing systems are now into the
many trillions of dollars. So far the crisis is
still impervious.

The horrible scene that some imagine is
that the economy has become like a huge hurricane at sea
whose fury can not be altered. It can only blow itself out
in the atmosphere over time. The sum total of leverage built
up in the financial system over the last decade may be
so powerful that when it unwinds perhaps nothing will be
able to stop it.

The question of whether we are in or entering a Great
Depression is an epistemological one. No one can know
until it is well underway or over. There are no real methods
for forecasting it.

That leaves most people, now frightened by the prospect
of seven long years of famine, imagining the very real
possibility that they and many of their fellow citizens will
lose most or all of what it has taken a lifetime to accumulate.

They will have nothing for retirement, disability, or the
education of their children or grandchildren. Their homes
may only be worth a very little; but many will not be able
to keep even that. According to Reuters, Families are flooding

homeless shelters across the United States in numbers

not seen for years, camping out in motels or staying with

friends and relatives, homeless advocates say.

Jobs, which often define people and gives
them both a sense of community and self worth, may be lost in an
instant and the economy may keep them from being reclaimed,
perhaps for years.

For many, there is no historical perspective on what is happening now.
The last great economic disaster is too old for almost anyone today
to remember. It resides in a few memories, but mostly is a tale told
in books now.

Those who believe that they are in trouble cannot fathom how recently they were at the point in their lives when they had their greatest wealth, wealth beyond what their parents and grandparents had, and perhaps greater than their children would have. This was largely because they had homes. Some people had owned their homes for two decades or longer. They were worth many multiples of their original purchase prices. Those homes were like cattle were to the ancients. They could be borrowed against and saved for the value they would bring in a person's old age.

During a sharp downturn in the economy, older citizens will certainly suffer greatly during the crisis and have less opportunity to ever recover financially. Young people, many of whom have never had any deprivation in their lives, may suffer more since they are often psychologically incapable of living with nothing and rebuilding a life on their own.

Douglas A. McIntyre

Source: 24/7 Wall St. | 12 Nov 2008 | 12:03 pm

Fewer lead-tainted toys recalled this year

The lead-tainted toy scare that hammered the industry and frightened parents last holiday season has eased, but there are still concerns that problem toys may still be out there. "I...
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:02 pm

[video] Wall St. Network's 3-Minute Press Show Features Executive Interviews and Highlights Recent Press for the Following: MVSN, FUTR, VCRT, IDND

NEW YORK, Nov. 12 /PRNewswire-FirstCall/ -- Wall St. Network's 3-Minute Press Show is a daily program hosted by WSN reporter Tracee Tolentino that features in-depth...
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:00 pm

CoCo Key Water Resort NOW OPEN

MT. LAUREL, N.J., Nov. 12 /PRNewswire/ -- Don't put away that bathing suit yet. The $25 million CoCo Key Water Resort opens at the Mt. Laurel Marriott on Wednesday,
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:00 pm

The European Pricing Platform(ePP): Do you Master the Pricing Game?

FRANKFURT, Germany, November 12 /PRNewswire/ -- Founded in 2004, the European Pricing Platform serves as the first European network gathering Business Management, pricing
Source: Infocious RSS raw feed - channel BNewsBusiness | 12 Nov 2008 | 12:00 pm

Europe fines glassmakers record €1.4bn

The European Commission has imposed a record fine of almost €1.4 billion on four car glass manufacturers today for operating an illegal cartel for five years.
Source: Latest Business News from Times Online | 12 Nov 2008 | 11:59 am

Europe Markets: European stocks move higher in choppy session

European shares advance on Wednesday, with banks and oil majors staging a bit of a rebound, as investors eye a slew of corporate updates.

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 11:51 am

Pound declines on poor UK outlook

The pound has dropped against the dollar and the euro after the Bank of England dramatically revised its UK forecast.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 11:47 am

NTT DoCoMo to buy 26% stake in Indian telecom

NTT DoCoMo Inc, Japan’s biggest cellular operator, says Wednesday it will buy a 26% stake in Indian mobile phone carrier Tata Teleservices, India’s sixth largest, for about 260 billion yen ($2.7 billion).

Source: MarketWatch.com - Top Stories | 12 Nov 2008 | 11:33 am

Shares on the slide

See how some of the main global stock indexes have fared during the financial turmoil of 2008
Source: BBC News | Business | World Edition | 12 Nov 2008 | 11:30 am

Good buys in bonds

If you were counting on your fixed-income funds to prop you up in tough times, it's been a cruelly disappointing year. Although the news headlines focus on falling stocks, the fear of bad credit is at the heart of this financial crisis - and a bond, after all, is nothing but a loan. Every category of bond fund is down in 2008, making this one of the worst years ever for bond investors. While disheartening, the beating that bonds have taken has some analysts pointing to a buying opportunity - if you're patient.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 11:28 am

Unemployment reaches 11-year high

The number of jobless people in the UK jumps by 140,000 in the quarter to September to 1.82 million - the worst in 11 years.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 11:26 am

Bulletin From The Distant Past: Holiday Sales Will Fall

For some reason, retailers have been thinking that this holiday season would be bad but not brutal. Industry experts have been saying sales might only be up 2% or 3% year-over-year.

Someone must have been drinking the good stuff. Any man on the street could have told the retail industry that sales this year will be off, way off. People are too worried about their jobs and have no credit.

According to Reuters, "U.S. holiday retail sales will fall 1 percent this year, according to America's Research Group, marking the first time the research firm has forecast a decline in almost a quarter century of surveys."

The figures are still much to optimistic. Perhaps, researchers do not want to drive retail firms to despair.

With car sales running off 30% and home sales in the worst shape in US history, it would be astonishing if the consumer did not pull back 10% or greater on their holiday purchases. They are remarkably poor and the holidays will not change that.

And, there will be a lot more jobs lost in the economy between now and mid-December.

Douglas A. McIntyre

Source: 24/7 Wall St. | 12 Nov 2008 | 11:19 am

Malcolm Gladwell's secrets of success

In the business world, managing talent is one of those topics that are both overanalyzed and misunderstood. What separates the legendary CEO from the chronically dissatisfied cubicle dweller?

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 11:14 am

Cattle auctions and Imus: A rural TV empire

On the wall of a log cabin overlooking the Elkhorn Valley in Nebraska hangs a black-and-white picture of Patrick Gottsch as an 11-year-old with his father, also named Patrick. The youngster and his dad are both driving tractors through a cornfield on the family farm near Omaha. Gottsch is deeply proud of his country roots.

Source: Business and financial news - CNNMoney.com | 12 Nov 2008 | 11:14 am

Apple (AAPL) Takes On Sony (SNE) And Nintendo In Games

Apple's (AAPL) iPhone does everything. It is a phone, a multimedia player, a web browser, and a washing machine.

Now, Apple wants the iPhone to be a gaming platform and it is going to take on the remarkably successful Nintendo DS and Sony (SNE) Playstation Portable, which currently rule the mobile video game market.

According to The Wall Street Journal, "Developers are being lured by Apple's online method for delivering games, which has lowered distribution costs and made it possible to profit on games that sell for just a few dollars or are given away with advertising."

Just because there are games available does not mean that consumers will play them on an iPhone. The Sony and Nintendo products have been in the markets for years.

Betting against Apple as it moves into a highly competitive market is easy. Gaming would be considered remarkably crowded with Nintendo, Sony, and Microsoft (MSFT) all in the mix and billions of dollars of sales in play.

But, most experts thought that the Mac would hit a ceiling because PCs ran the ubiquitous Windows OS and that the iPhone would never get much share because of the RIM (RIMM) Blackberry and dozens of smartphones from industry leaders Nokia (NOK), Samsung, and Sony Ericsson.

Those predictions did not work out.

Douglas A. McIntyre

Source: 24/7 Wall St. | 12 Nov 2008 | 11:09 am

Energy prices 'could fall soon'

The UK's second biggest energy company says it is "optimistic" that domestic prices could be cut early in 2009.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 11:06 am

Microsoft (MSFT) Picks Google's (GOOG) Pocket

Mobile search is supposed to be the next big thing on the internet. Now that PC users have pretty much decided what search service they want to use, the war is moving to handsets. Microsoft (MSFT) and Yahoo! (YHOO) are desperate to make sure that Google (GOOG) does not move its 65% market share on the PC to mobile devices.

As a way to keep Google in check and pick up some business for itself, Microsoft is about to do a deal with Verizon (VZ), the second largest cellular carrier in the US with over 60 million subscribers.

According to Reuters, "Under the terms being considered, Microsoft would share with Verizon revenue from ads shown in response to cell phone Web searches, with guaranteed payments to the carrier of about $550 million to $650 million over five years, roughly twice what Google Inc offered".

The trouble is that the money from Redmond will be wasted. Even an eight-year-old can reset the default search function on a handset browser. Since Google has the best search system and consumers are used to using it on their PCs, Microsoft may get very few new customers.

Microsoft is not going to ever be successful with it search product, at least not the way it works now. Google is a better product and nothing will turn people away from that.

Douglas A. McIntyre

Source: 24/7 Wall St. | 12 Nov 2008 | 10:54 am

Bank forecasts one-year long recession for UK

The Bank of England said today that the country is set for a deep one-year long recession with annual output set to shrink by as much as 2 per cent in 2009.
Source: Latest Business News from Times Online | 12 Nov 2008 | 10:46 am

Philip Green swoops on Baugur's Moss Bros stake

Sir Philip Green, the billionaire owner of TopShop and BHS, has bought a 28 per cent stake in menswear retailer Moss Bros, Times Online can exclusively reveal.
Source: Latest Business News from Times Online | 12 Nov 2008 | 10:21 am

UK jobless total soars above 1.8m

Total unemployment has soared to above 1.8m for the first time since the end of 1997, the year Labour came to power, according to official figures which also showed the biggest monthly rise for almost 16 years in the number of people claiming unemployment benefit.
Source: FT.com - US homepage | 12 Nov 2008 | 10:19 am

Oil price slides to 20-month low

Oil prices have fallen to the lowest levels since the beginning of 2007 due to worries about weakening energy demand.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 10:18 am

When unemployment is a way of life

Source: Latest Business News from Times Online | 12 Nov 2008 | 10:12 am

A Hard Winter

Source: Latest Business News from Times Online | 12 Nov 2008 | 10:10 am

Pakistan to approach IMF for loan

A top Pakistani official says Islamabad will approach the International Monetary Fund for a loan in the next 10 to 15 days.
Source: BBC News | Business | World Edition | 12 Nov 2008 | 10:05 am

Unemployment hits 11-year high of 1.82 million

Unemployment has surged to an 11-year high as the recession tightens its grip on Britain, after the number of people out of work grew by 140,000 to 1.82 million.
Source: Latest Business News from Times Online | 12 Nov 2008 | 9:41 am

European shares edge up, dollar dips (Reuters)

Reuters - European stocks recovered some ground on Wednesday after steep losses in the previous session and the dollar dipped, but oil hovered near 20-month lows on ongoing worries about a slowdown in global demand.

Source: Yahoo! News: Business | 12 Nov 2008 | 9:39 am

Sainsbury defies downturn as sales rise 3.9%

J. Sainsbury on Wednesday delivered interim profits at the top end of expectations, as the UK supermarkets group defied strong economic headwinds to report a 3.9 per cent rise in like-for-like sales for...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 9:36 am

Swiss Life will not meet targets

ZURICH, Nov 12 - Insurer Swiss Life said on Wednesday third-quarter premium volumes fell 11 per cent to SFr3.075bn ($2.61bn) and warned it would not meet its full-year net profit guidance.Swiss Life, Switzerland's...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:57 am

ENRC slashes output as slowdown bites

Eurasian Natural Resources on Wednesday became the latest mining group to react to the slowing world economy by cutting its output ferroalloys and iron ore.The company, whose operations are concentrated...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:31 am

Companies lobby Congress for pension help

The firms want lawmakers to suspend part of a 2-year-old law that they say could force them to make job cuts as they shift scarce money into ailing retirement pools.

With pension funds facing billions of dollars in shortfalls as markets plunge, companies including Ford and Verizon are pushing Congress to suspend portions of a 2-year old law they say could force them to make job cuts as they shift scarce money into ailing retirement pools.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

Volvo to lay off 1,000 workers

AUTOS Volvo to lay off 1,000
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:00 am

Let's pay only for the TV we watch

It's time for the $79-billion cable industry to switch to a la carte pricing.

Cable TV rates keep rising, and federal regulators said last week they're investigating -- again -- whether cable companies are gouging consumers.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

Carmakers' slowdown takes the shine off auto shows

GM scraps model debuts at next week's Los Angeles Auto Show as the industry cuts expenses.

Facing their worst sales in decades, carmakers are cutting spending on auto shows, the industry's traditional customer-courtship event.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

U.S. announces mortgage affordability plan

Federal officials hope that the simpler, quicker procedure for modifying loans held by Fannie Mae and Freddie Mac will keep struggling homeowners from losing their houses. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:00 am

Weakening economic outlook sends stocks and oil down

The Dow declines 176.58 points, or 2%, to 8,693.96. Crude falls below $60 a barrel. The steadily worsening economic...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:00 am

Disney, Verizon to turn the cellphone into a theme-park visitor's tool

Wireless software promises to help mobile phone users navigate the parks and make the most of their visits. But there are privacy implications.

The Happiest Place on Earth will soon know where in the world you are.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

Economy not likely to curb holiday travel, survey finds

Most Americans who responded to a Travel Industry Assn. survey said they planned to keep their plans despite the downturn. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:00 am

Americans clamoring for all things Obama

Entrepreneurs are cashing in as items featuring President-elect Barack Obama have become a sales phenomenon.

Much as Barack Obama has kindled unprecedented interest in presidential politics, so too has he prompted a flood of merchandise, collectibles, television deals and book contracts.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

U.S. announces mortgage affordability plan

Federal officials hope that the simpler, quicker procedure for modifying loans held by Fannie Mae and Freddie Mac will keep struggling homeowners from losing their houses.

The latest government-backed effort to stem the country's soaring rate of foreclosures could help several hundred thousand borrowers keep their homes but will do little for 80% of seriously delinquent borrowers, especially in once-hot real estate markets such as California, federal officials said.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

Volvo to lay off 1,000 workers

AUTOS Volvo to lay off 1,000

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

Real estate brokerage CB Richard Ellis shifts plan to raise capital; shares drop 23%

Investors react after the world's biggest real estate broker shifts capital-raising plans. Shares of CB Richard...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:00 am

Weakening economic outlook sends stocks and oil down

The Dow declines 176.58 points, or 2%, to 8,693.96. Crude falls below $60 a barrel.

The steadily worsening economic outlook sent the price of oil below $60 a barrel to a 19-month low, with stock prices going along for the ride down.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

Downey Financial shares fall below $1 on warning of possible seizure

The Newport Beach mortgage lender says it might be seized by regulators if it can't get a capital infusion by the end of the year.

The depressed stock of Newport Beach-based mortgage lender Downey Financial Corp. crumbled below $1 a share Tuesday after the company formally warned that it could be seized by regulators if it can't get an infusion of capital by the end of the year.

Source: L.A. Times - Business | 12 Nov 2008 | 8:00 am

Disney, Verizon to turn the cellphone into a theme-park visitor's tool

Wireless software promises to help mobile phone users navigate the parks and make the most of their visits. But there are privacy implications. ...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:00 am

Carmakers' slowdown takes the shine off auto shows

GM scraps model debuts at next week's Los Angeles Auto Show as the industry cuts expenses. Facing their worst...
Source: Infocious RSS raw feed - channel BNPaperBusiness | 12 Nov 2008 | 8:00 am

Sainsbury's defies gloom with 11% profit rise

J Sainsbury, the UK supermarket group, appeared to shake-off some of the gloom gripping the retail sector today after unveiling an 11 per cent increase in pre-tax profits during the first six months of the year.
Source: Latest Business News from Times Online | 12 Nov 2008 | 7:50 am

Aust dollar closes at two-week low

SYDNEY - The Australian dollar closed at a two-week low today as another ordinary session on regional equity markets turned traders off risk-driven currencies. More sharemarket slides are tipped to push the local currency...
Source: New Zealand Herald - Business | 12 Nov 2008 | 7:36 am

Land Securities delays Trillium demerger

Land Securities, one of the UK’s biggest property companies, revealed this morning that it would not pursue a planned demerger of Trillium, its outsourcing division, as it reported a pre-tax loss of £1.7 billion for the first six months of the year.
Source: Latest Business News from Times Online | 12 Nov 2008 | 7:34 am

Aust market closes in the red

PERTH - The Australian share market closed almost one per cent in the red today after overnight losses on global markets and lower commodity prices. The benchmark S&P/ASX200 index was down 33.6 points, or 0.85 per cent,...
Source: New Zealand Herald - Business | 12 Nov 2008 | 7:17 am

NZ market joins offshore slide

The New Zealand sharemarket slid today as Asian shares fell for a second day after another poor session for equities in the United States. The benchmark NZSX-50 index closed down 27.377 points, or 0.978 per cent, at 2772.186....
Source: New Zealand Herald - Business | 12 Nov 2008 | 6:27 am

NZ dollar weak after market jitters

The New Zealand dollar is weak on jitters in international financial markets, even though the Reserve Bank today again praised the soundness of the country's financial system. The NZ dollar was at US57.47c by 5pm after dipping...
Source: New Zealand Herald - Business | 12 Nov 2008 | 5:41 am

Gauging the Gender Gap

China has received plenty of criticism for the poor working conditions, heavy pollution, and sometimes-dangerous products associated with its remarkable economic boom. Now it is getting praise for increasing gender equality.

A World Economic Forum study released today says China climbed 16 places, to No. 57, in an annual ranking of sexual parity in 130 countries around the world.

The study, called the Global Gender Gap Report 2008, ranks the social, political, and economic status of the sexes in each country, based on education, health statistics, job opportunities, income, and political participation. The results are expressed as a percentage to show how close women are to parity with men.

In the top-ranking nation, Norway, for example, women have 82 percent of the access to resources and opportunities that men enjoy; that's 2 percentage points more than last year, when Norway was ranked No. 2.

Last year's leader, Sweden, remained essentially static, at 81 percent, but slipped two places, behind Norway and Finland (which also rose last year, but finished a fraction of a percentage point behind Norway).

Women in China, by contrast, have 69 percent of the access to resources and opportunities as men, up from 66 percent in 2007. By comparing access to their countries' resources and opportunities rather than the actual amount of resources and opportunities, researchers said they have tried to minimize each country's level of development and focus on fairness.

The U.S. kept ahead of China, with American women having 72 percent of the access to resources and opportunities as men, up 2 percentage points from 2007; that is good enough for 27th place. But the U.S. is still below Lesotho (No. 16), Mozambique (No. 18), Trinidad and Tobago (No. 19)—and Cuba (No. 25).

Researchers said the gaps narrowed in more than two-thirds of the countries they surveyed, but that is down from 79 percent of the countries surveyed last year.

At a panel discussion of the findings in New York on Tuesday, Beth Brooke, global vice chairwoman at Ernst & Young, noted that the pay gap shrank as the global economy grew. "If we had more women in leadership positions now," she wondered cheekily, "would we be where we are today?"

One of the study's author, Saadia Zahidi, who runs the World Economic Forum's Women's Leaders Program, agreed. "It's a problem of inefficiency," she said. "We're not using half of the world's people," thereby depriving business of half of the world's talent.

To assess a nation's progress, Zahidi and her co-authors—Laura D. Tyson, a University of California economics professor who ran the Council of Economic Advisers under President Bill Clinton, and Ricardo Hausmann, director of Harvard's Center for International Development and former chief economist of the Inter-American Development Bank—looked at educational attainment, political empowerment, health, and economic participation.

Zahidi noted that the study marks only the progress toward gender equality and not the methods countries have used to achieve it. She added there is no measure of a nation's average personal income or the country's development as a whole, though the top-ranked countries generally are developed nations.

While men and women are all but equal in the categories of educational attainment and health, there is still a wide gap in economic and political equality. The greatest discrepancy is political, with women comprising only 16 percent of all government employees.

Zahidi said world leaders could and should include gender equality as one of the goals as they shape the post-crisis world.

Brooke, the Ernst & Young executive, said the economic crisis highlights the need for new leadership models. Besides, she added, "there's a link between parity and economic performance."

Source: Portfolio.com: Top 5 | 12 Nov 2008 | 5:00 am

10 Things Hospital CEOs Won't Tell You (10 Things)

Secrets from the business side of the doctor business.

Source: SmartMoney.com | 12 Nov 2008 | 5:00 am

Colleges Need to Rethink Alternative Assets (10 Things)

Many college endowments are learning that they can't make the grade.

Source: SmartMoney.com | 12 Nov 2008 | 5:00 am

Exelon goes hostile after NRG rebuffs $6bn bid

Exelon launches a takeover battle for NRG Energy after its unsolicited offer to combine the companies into the largest US power producer was rejected by its rival
Source: FT.com - US homepage | 12 Nov 2008 | 3:14 am

New CEO for book publisher

Publisher HarperCollins has appointed Michael Moynahan as its new CEO for Australia and New Zealand. Moynahan is currently in a senior management role at Random House. He will take up his post at HarperCollins in the New Year. "I...
Source: New Zealand Herald - Business | 12 Nov 2008 | 2:30 am

US lays out sweeping program to ease mortages (AFP)

AFP - The US government Tuesday sought to put a floor under soaring home loan defaults and falling property values with a sweeping program to ease payment terms for hundreds of thousands of struggling homeowners.

Source: Yahoo! News: Business | 12 Nov 2008 | 2:18 am

After The Close - Tuesday

HOLOGIC (HOLX), which makes medical diagnostic equipment, said its Q4 EPS rose 3% to 30 cents ex items, meeting views. Revenue more than doubled...

Source: Investor's Business Daily: BUSINESS | 12 Nov 2008 | 1:12 am

Business Briefs - Tuesday

Weak PC sales seen hurting Intel. The leading chipmaker and its top PC rival AMD fell after their '09 profit forecasts were cut by Friedman,...

Source: Investor's Business Daily: BUSINESS | 12 Nov 2008 | 1:12 am

In Brief - Tuesday

Fossil (FOSL), a watchmaker, said Q3 EPS rose 26% to 54 cents, a nickel better than views. Revenue grew 14% to $409.8 mil, above estimates. It...

Source: Investor's Business Daily: BUSINESS | 12 Nov 2008 | 1:12 am

Trends & Innovations - Tuesday

Orbiting lab offers space for rent

Source: Investor's Business Daily: BUSINESS | 12 Nov 2008 | 1:12 am

Aircraft Parts Maker Grows Through Acquisitions In Tough Market

While most companies are hoarding cash and ducking for cover during this financial crisis, TransDigm Group is spending money to make money.

Source: Investor's Business Daily: BUSINESS | 12 Nov 2008 | 1:12 am

New help for Fannie and Freddie borrowers

US officials reveal a plan to aid homebuyers struggling to pay mortgages backed by the two financiers in the latest attempt to tackle the country's wave of foreclosures
Source: FT.com - US homepage | 12 Nov 2008 | 1:11 am

Guest nights fall again as tourist squeeze tightens

The squeeze on the tourism industry tightened with new figures showing guest nights in short term commercial accommodation tumbling in September. Figures released by Statistics New Zealand (SNZ) today showed total guest nights...
Source: New Zealand Herald - Business | 12 Nov 2008 | 1:00 am

Call to bail out US auto industry

The powerful speaker of the US House of Representatives called for "emergency and limited financial assistance" for the battered American auto industry, and urged the outgoing Bush administration to join lawmakers in reaching a quick...
Source: New Zealand Herald - Business | 12 Nov 2008 | 12:30 am

The illicit trade of ancient art

Some of the ancient treasures in museums were taken illegally from where they originated, and countries have sued to get them back. Kai Ryssdal talks with Sharon Waxman, who writes about the antiquities trade in 'Loot.'
Source: Marketplace | 12 Nov 2008 | 12:24 am

Grieving dad invents defense robot

After Brian Hart's son John was killed in Iraq, he concluded there must be better ways to protect the troops. So he developed The Landshark, a robot that diffuses bombs. Monica Brady-Meyerov has more.
Source: Marketplace | 12 Nov 2008 | 12:08 am

Lessons to be learnt by HMS UK from Vodafone

Vittorio Colao and Gordon Brown are adopting rather different strategies for piloting their vessels through the economic storm. At the good ship Vodafone, Mr Colao is battening down the hatches and reefing the sails.
Source: Latest Business News from Times Online | 12 Nov 2008 | 12:00 am

Subway sees slowdown as its chance to grow

Britain may be fretting about the effects of recession, but Subway sees its ailing high street as a land of opportunity
Source: Latest Business News from Times Online | 12 Nov 2008 | 12:00 am

PGG Wrightson Finance signals debt sale

PGG Wrightson Finance is signalling a domestic bond sale of up to $75 million to fund growth in its business. The finance subsidiary of PGG Wrightson was yesterday approved under the Government's Deposit Guarantee Scheme and the...
Source: New Zealand Herald - Business | 12 Nov 2008 | 12:00 am

Barclays' Mideast deal hit by dissenters

Some of Barclays' biggest shareholders have threatened to vote against the bank's planned £7bn capital raising unless it improves the terms of the deal that would leave it almost a third owned by Middle Eastern investors
Source: FT.com - US homepage | 11 Nov 2008 | 11:31 pm

NZ stocks: Sharemarket slides in early trade

The New Zealand sharemarket slid in early trade today, following another poor session for equities in the United States. Leading stocks were looking shaky early, with Telecom down 5c to 236, Contact Energy off 10c to 715 and Fletcher...
Source: New Zealand Herald - Business | 11 Nov 2008 | 11:00 pm

Bad news for Fletcher Building shareholders

Construction giant Fletcher Building is forecasting tighter times ahead, as the long-term effects of the credit crunch continue to bite on the cyclical nature of the building industry. "Events in the global economy have had a significant...
Source: New Zealand Herald - Business | 11 Nov 2008 | 10:50 pm

Laffer Says U.S. Automakers Are `Never Going to Make It'

Source: Bloomberg - All Podcasts | 11 Nov 2008 | 10:11 pm

Disney set to entertain Middle East

Walt Disney is making its first foray into Arabic filmmaking with a movie that it will produce and distribute across the Middle East to tap into growing demand in the region for family entertainment
Source: FT.com - US homepage | 11 Nov 2008 | 10:00 pm

Architect Hadid, Kristin Scott Thomas, Collectible Cars

Source: Bloomberg - All Podcasts | 11 Nov 2008 | 9:51 pm

Oil falls below $60 a barrel on concerns about global slowdown

Traders bet that near-term demand will continue to drop, despite news of China's massive economic stimulus package.

Oil tanked below $60 a barrel, closing today below that benchmark for the first time since March 2007 as traders bet that the economic slowdown would reduce petroleum demand.

Source: L.A. Times - Business | 11 Nov 2008 | 9:51 pm

Toxic assets poison faith in Treasury

All eyes will be on Hank Paulson, the Treasury secretary, when he offers an update on the financial rescue package in Washington on Wednesday morning
Source: FT.com - US homepage | 11 Nov 2008 | 9:30 pm

Bush resists $25bn aid for US carmakers

Hopes of quickly securing $25bn in emergency government support for troubled US carmakers are caught in a stand-off between the congressional Democrats and Barack Obama, the president-elect, on one side and the outgoing administration on the other
Source: FT.com - US homepage | 11 Nov 2008 | 8:08 pm

Merrill chief sees severe global slowdown

The global economy is entering a slowdown of epic proportions comparable with the period after the 1929 crash, John Thain, chairman and chief executive of Merrill Lynch , warned
Source: FT.com - US homepage | 11 Nov 2008 | 8:06 pm

Author Shlaes Says Obama Should Move Fast on Economy

Source: Bloomberg - All Podcasts | 11 Nov 2008 | 7:26 pm

Investors Not Ready to Return to Bonds, Barclays's Malvey Says

Source: Bloomberg - All Podcasts | 11 Nov 2008 | 7:07 pm

Green Mountain, Triple-S, Pepsi Rated 'Hold' at Stifel Nicolaus

Source: Bloomberg - All Podcasts | 11 Nov 2008 | 6:36 pm

Letters: Creating jobs, helping students

Listeners wrote in about creating jobs for out-of-work Americans, student loans and having lobbyist-connected people on Obama's team. Also, Kai Ryssdal learns how to pronounce the name of a South Dakota city.
Source: Marketplace | 11 Nov 2008 | 5:59 pm

Even Dubai feels economic pain

Dubai's dream of having the biggest and best of everything was believed to be impervious to global economic slowdown, but Kelly McEvers reports there are signs the city is feeling economic malaise too.
Source: Marketplace | 11 Nov 2008 | 5:59 pm

Crisis tones down Super Bowl ads

Companies that normally spend big bucks on Super Bowl ads are reconsidering the big flash productions for fear of appearing flamboyant during a time of economic trouble. Stacey Vanek-Smith reports.
Source: Marketplace | 11 Nov 2008 | 5:58 pm

Bailout package could soon have strings

The first batch of bailout money released by Congress is going fast. Soon, Treasury will have to go back for the rest. This time, though, there are likely to be strings attached. Steve Henn reports.
Source: Marketplace | 11 Nov 2008 | 5:57 pm

U.S. expands effort to stop foreclosures

Fannie Mae and Freddie Mac have been drafted to expand and speed up efforts to help homeowners facing foreclosure. The government hopes other lenders do the same. Washington Bureau Chief John Dimsdale reports.
Source: Marketplace | 11 Nov 2008 | 5:57 pm

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