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Giving it up for graduates, newlywedsThere are no magic numbers when it comes to an appropriate gift amount. A loan for graduate school could have a bad ending. Home-cooking to honor that UCLA grad is just fine.It's spring, which means chirping birds, blooming flowers and the merciful end of the professional hockey season. It also means that it's time to shell out money for graduation and wedding gifts. This month, etiquette maven Alana answers your questions about how much to spend on graduation gifts, how to say no to your son's request for a graduate school loan and what kind of party is suitable for a college graduation.
Source: L.A. Times - Business | 17 May 2009 | 7:00 am Childbirth: Can the U.S. improve?C-sections are expensive. Doctors ask if we are doing too many.After an emergency cesarean with her first baby, Ruby Wales was holding out for a vaginal birth with her second one.
Source: L.A. Times - Business | 17 May 2009 | 7:00 am Winning Stocks on a Down Week (ADY, BCRX, DDRX, DGI, FAZ, LORL, RHT, WX)This was a week of profit taking and a probable realization that a move of 30% and more from the lows in March was probably a bit much in the face of only consistent “less-bad” economic data. But as every optimist says, “There is always a bull market somewhere.” We saw a drop of about [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 16 May 2009 | 1:10 pm NewsWatch: Stocks losing the long run to bondsTwo brutal bear-markets for stocks within a decade and a stunning bull run for government bonds is challenging the gospel that stocks will always beat bonds if investors just hold on long enough.
Source: MarketWatch.com - Top Stories | 16 May 2009 | 1:00 pm Hot in recession: Chocolate, running shoes, SpamIt's not all doom and gloom in the U.S. economy. Some products are bucking the recession and flying off store shelves. Sales of chocolate and running shoes are up. Wine drinkers haven't...Source: RSS feed - channel BNewsBusiness | 16 May 2009 | 12:57 pm An iPhone for China on Sunday?Source: Business and financial news - CNNMoney.com | 16 May 2009 | 12:08 pm Personal Finance Daily: The week's 10 best Personal Finance storiesIn case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of May 11-5:
Source: MarketWatch.com - Top Stories | 16 May 2009 | 12:01 pm UPDATE 1-Italian minister says Fiat promised no job cuts:paper* Industry minister: not worried about possible Opel dealSource: RSS feed - channel BNewsBusiness | 16 May 2009 | 10:19 am Auto Review: 2010 Volvo XC60: A smooth crossoverOther crossover vehicles hit the market first, such as the BMW X3 and the Acura RDX. Yet, nowhere will you find a smoother, more refined ride than in this newest Swede.
Source: MarketWatch.com - Top Stories | 16 May 2009 | 10:01 am Italian minister says Fiat promised not to cut jobs: paperMILAN, May 16 (Reuters) - Fiat SpA gave assurances it would not cut jobs nor close plants when the government approved incentives to buy cars, Italy's Industry Minister was quoted as saying on Saturday...Source: RSS feed - channel BNewsBusiness | 16 May 2009 | 9:30 am Wi-Fi returning to airlinesRecession-battered carriers believe they'll get a modest revenue boost from fees for the wireless Internet service. Googling in the air...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Stocks slide in cautious trading after rallyNEW YORK -- Investors moved more money out of stocks today, further chilling the market's spring rally.Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Carnival Cruise Lines to resume visits to Mexico this monthThe company's decision comes after the U.S. government says it will no longer caution Americans to avoid non-essential travel to the country because of the swine flu outbreak. ...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Orbitz launches petition drive to end Cuba travel banA new website enables people to petition the U.S. government to end restrictions on travel to Cuba, a prized, but off-limits, destination for the travel industry. ...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Wi-Fi returning to airlinesRecession-battered carriers believe they'll get a modest revenue boost from fees for the wireless Internet service.Googling in the air
Source: L.A. Times - Business | 16 May 2009 | 7:00 am GM dealers tapped for closure speak outGeneral Motors on Friday gave the boot to 1,100 of its 6,000 U.S. dealers as part of a massive restructuring of the troubled automaker. Here is what some of the targeted dealers said:Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Former L.A. pension board member may have broken ethics lawKelly Candaele got $1,000 in campaign funds from a Wetherly Capital Group executive after voting for the board to invest in a Wetherly client's project. Attorney says Candaele didn't know of the link.A pension board appointee of Los Angeles Mayor Antonio Villaraigosa may have violated city law by accepting a campaign donation from a Los Angeles businessman whose client sought a $10-million investment from the board.
Source: L.A. Times - Business | 16 May 2009 | 7:00 am Theater owners see upswing amid a downturnA slumping economy hasn't doomed exhibitors. In fact, attendance is up -- and so is the revenue.A banner year at the box office driven by films including "Fast & Furious," "Star Trek" and "Hannah Montana" is turning out to be a powerful recession vaccine for the nation's biggest movie theater chains. ¶ Only a few months ago, investors feared consumers' reluctance to spend money would keep them at home and from going to the movies, depressing business at the country's 5,800 local theaters. ¶ Like a twist ending to a Hollywood thriller, attendance at theaters this year has jumped 14%, according to tracking firm Hollywood.com Box Office. ¶ Theater operators may have the weak economy and penny-pinching consumers to credit.
Source: L.A. Times - Business | 16 May 2009 | 7:00 am Former L.A. pension board member may have broken ethics lawKelly Candaele got $1,000 in campaign funds from a Wetherly Capital Group executive after voting for the board to invest in a Wetherly client's project. Attorney says Candaele didn't know of the link...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Carnival Cruise Lines to resume visits to Mexico this monthThe company's decision comes after the U.S. government says it will no longer caution Americans to avoid non-essential travel to the country because of the swine flu outbreak.Carnival Cruise Lines, the world's largest cruise line operator, announced Friday that it would resume visits to Mexican ports later this month.
Source: L.A. Times - Business | 16 May 2009 | 7:00 am General Motors moves to shed 1,100 dealersGM takes action in a restructuring plan that would shrink its distribution network from 6,000 to 3,600 by the end of 2010. The company is trying to avoid bankruptcy.The painful reshaping of the American auto industry hit home this week, delivered overnight by FedEx and UPS.
Source: L.A. Times - Business | 16 May 2009 | 7:00 am FBI probes possible insider trading by 2 SEC attorneysFrequent stock trades by the pair raised suspicions. An SEC inspector general's report finds there are no real measures in place to ensure that SEC employees don't engage in such activity. ...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Theater owners see upswing amid a downturnA slumping economy hasn't doomed exhibitors. In fact, attendance is up -- and so is the revenue. A banner year...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Which 'flation should we fear more?The threat of a deflationary spiral still looms, some economists say, even though Wall Street recently has focused more on the potential for a jump in inflation if the economy revives. ...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am FBI probes possible insider trading by 2 SEC attorneysFrequent stock trades by the pair raised suspicions. An SEC inspector general's report finds there are no real measures in place to ensure that SEC employees don't engage in such activity.Federal prosecutors and the FBI have been investigating possible illegal insider trading by two Securities and Exchange Commission enforcement attorneys who were in a position to receive sensitive information about agency probes of public companies.
Source: L.A. Times - Business | 16 May 2009 | 7:00 am Which 'flation should we fear more?The threat of a deflationary spiral still looms, some economists say, even though Wall Street recently has focused more on the potential for a jump in inflation if the economy revives.When the global economy began its dive eight months ago, one of Wall Street's biggest fears was that a deflationary spiral would kick in -- falling prices for goods and services leading to falling wages, in a vicious circle that governments and their central banks would be unable to stop.
Source: L.A. Times - Business | 16 May 2009 | 7:00 am Menu labeling bill introduced by U.S. lawmakersThe Menu Education and Labeling Act would require fast-food and other chain restaurants to post calories on menu boards and food display tags. ...Source: RSS feed - channel BNPaperBusiness | 16 May 2009 | 7:00 am Menu labeling bill introduced by U.S. lawmakersThe Menu Education and Labeling Act would require fast-food and other chain restaurants to post calories on menu boards and food display tags.Two federal lawmakers have introduced legislation to require fast-food and other chain restaurants to post calories on menu boards and food display tags. The chains also would have to put information about calories, fats, carbohydrates and salt on printed menus.
Source: L.A. Times - Business | 16 May 2009 | 7:00 am TABLE-India Oracle Financial Q4 net rises 48 pct(versus the same period a year earlier, in billion rupees unless stated)Source: RSS feed - channel BNewsBusiness | 16 May 2009 | 6:57 am Califorina hedge fund manager arrestedA Beverly Hills hedge fund manager was arrested Friday on a charge he bilked investors out of $44.3 million, including $5 million he lost playing poker, the U.S. attorney's office said. ...Source: RSS feed - channel BNewsBusiness | 16 May 2009 | 6:20 am Stocks may brake for housing, Home DepotNEW YORK (Reuters) - U.S. stocks are likely to hit more speed bumps next week as investors become more wary of Wall Street's ability to rally further and housing starts, jobless claims and other indicators are in the spotlight.Source: Reuters: Business News | 16 May 2009 | 5:55 am Troubled Polish Bioton swings to net loss in Q1WARSAW, May 16 (Reuters) - Poland's troubled listed insulin maker Bioton swung to a 20 million zloty ($6 million) net loss in the first quarter due to a drop in revenues and losses at subsidiaries.Source: RSS feed - channel BNewsBusiness | 16 May 2009 | 5:42 am Congress alliance leads Indian pollsIndia, the world's largest democracy, started its long-awaited vote count on Saturday after a month-long election to decide the country's next government.Source: Financial Times - US homepage | 16 May 2009 | 4:56 am New Web tool WolframAlpha launches test runGoogle rules the roost when it comes to Internet search and has easily brushed aside efforts by Yahoo!, Microsoft and others to knock it off its perch. While not a traditional Web searchSource: RSS feed - channel BNewsBusiness | 16 May 2009 | 4:24 am Stocks to Watch: Stocks in focus for MondayAmong the companies whose shares are expected to see active trade in Monday's session are Lowe's Cos., Mitsubishi UFJ Financial Group and Consolidated Edison Inc.
Source: MarketWatch.com - Top Stories | 16 May 2009 | 4:01 am Final Expiration Date for Offer for RMBS Securities Insured by Syncora Guarantee Inc. Extended to May 29, 2009NEW YORK, May 15 /PRNewswire/ -- The BCP Voyager Master Funds SPC, Ltd., acting on behalf of and for the account of, the Distressed Opportunities Master Segregated Portfolio (theSource: RSS feed - channel BNewsBusiness | 16 May 2009 | 3:57 am Not ready to retire in Sun CityPam and Craig MacDonald say they reside in the Sun City retirement community, but they don't live there. They, and their son Steve, tell their story to Tess Vigeland.Source: Marketplace Money | 16 May 2009 | 3:30 am UPDATE 2-SemGroup files bankruptcy reorganization plan* Says plan calls for $2.27 bln in value to reach creditorsSource: RSS feed - channel BNewsBusiness | 16 May 2009 | 2:59 am SemGroup files bankruptcy reorganization planNEW YORK (Reuters) - SemGroup LP on Friday filed a bankruptcy reorganization plan with the court, saying it has lined up $500 million in financing, and expects to emerge from Chapter 11 as a publicly traded company later this year.Source: Reuters: Business News | 16 May 2009 | 2:04 am SemGroup files bankruptcy reorganization planNEW YORK (Reuters) - SemGroup LP on Friday filed a bankruptcy reorganization plan with the court, saying it has lined up $500 million in financing, and expects to emerge from Chapter 11 asSource: RSS feed - channel BNewsBusiness | 16 May 2009 | 2:04 am Life assurers to receive bail-out cashSix groups with banking subsidiaries will be injected with billions of dollars in US government funds, a move experts hope will damp concerns about the financial stability of this sectorSource: Financial Times - US homepage | 16 May 2009 | 1:43 am Stocks may brake for housing, Home Depot (Reuters)
Source: Yahoo! News: Stock Markets News | 16 May 2009 | 1:31 am Stocks may brake for housing, Home Depot (Reuters)
Source: Yahoo! News: Business | 16 May 2009 | 1:31 am Following Chrysler, GM slashing U.S. dealersDETROIT (Reuters) - General Motors Corp said it would drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.Source: Reuters: Business News | 16 May 2009 | 12:57 am Tod's founder takes stake in SaksDiego Della Valle, the Italian entrepreneur who founded Tod's, the luxury shoe and accessory company, has taken a 5.9% share in Saks, the upmarket US department store chainSource: Financial Times - US homepage | 15 May 2009 | 11:37 pm Wall Street sags on oil; S&P ends worst week in 2 monthsNEW YORK (Reuters) - U.S. stocks stumbled on Friday as energy shares dropped along with oil prices on worries about weak demand, overshadowing fresh reassuring economic data.Source: Reuters: Business News | 15 May 2009 | 11:20 pm Wall Street sags on oil; S&P ends worst week in 2 months (Reuters)
Source: Yahoo! News: Stock Markets News | 15 May 2009 | 11:20 pm Wall Street sags on oil; S&P ends worst week in 2 months (Reuters)
Source: Yahoo! News: Business | 15 May 2009 | 11:20 pm Putting a new value on the golden yearsOne of the essentials of the traditional American Dream has been to have a secure, happy retirement in your 60's. But unlike the Depression Era generation, many baby boomers haven't saved enough. And that's forcing them to rethink what it means to retire. Sam Eaton reports.Source: Marketplace | 15 May 2009 | 11:14 pm Sealy Downgraded at Raymond James, Stifel NicolausSource: Bloomberg - All Podcasts | 15 May 2009 | 11:14 pm Regulator expects bank chiefs to lose jobsA US regulator predicted that chief executives and directors of some of the banks that underwent the stress tests could lose their jobs, in another sign of the government's desire to have a say in the running of bailed-out companies.Source: Financial Times - US homepage | 15 May 2009 | 11:10 pm GM to close up to 1,100 dealersTroubled US carmaker General Motors announces plans to close up to 1,100 of its US dealerships in a bid to avoid bankruptcy.Source: BBC News | Business | World Edition | 15 May 2009 | 11:06 pm EBRD to invest 7bn euros in 2009The European Bank for Reconstruction and Development aims to invest a record 7bn euros in 2009.Source: BBC News | Business | World Edition | 15 May 2009 | 11:06 pm Possible SEC insider trading probedThe FBI is investigating possible insider trading by two enforcement lawyers at the Securities and Exchange Commission, according to a report by the regulator's inspector generalSource: Financial Times - US homepage | 15 May 2009 | 11:04 pm American who sparked Burma's wrathWhen John W. Yettaw slipped into the warm waters of Rangoon's Lake Inya to swim to the house where Nobel Laureate Aung San Suu Kyi has been confined for the last six years, he can have had little idea of the scale of the furore he was triggeringSource: Financial Times - US homepage | 15 May 2009 | 11:04 pm Defiant Panasonic predicts rise in profitPanasonic, the world’s biggest consumer electronics company, said yesterday that it would increase its operating profit this financial year, defying market expectations of a heavy loss and reviving hopes that spending may soon recover. Source: Latest Business News from Times Online | 15 May 2009 | 11:01 pm Investors to lose more income as companies trim dividendsShareholder income could fall by a further 35 per cent as more companies cut dividends to preserve cash, leading investors fear. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Need to know: Nike job cuts ... Unite grow ... John Lewis sales upView video and Need to Know interactive heatmap Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Is investment plan structured or perplexing?The message from the Bank of England Governor Mervyn King this week was that it is going to be a very long haul for the British economy. Any recovery will be slow and protracted, a long grind. Therefore, some think, any further rally in shares is going to be slow and grudging. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Public beats private sector career financially, research findsGraduates who 30 years ago shunned a public-sector job because they thought they would be financially better off in the private sector badly miscalculated, it is claimed today. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Tadashi Yanai fuels talk he has spotted a Gap in the marketTadashi Yanai, the Japanese entrepreneur behind the Uniqlo clothes brand, claimed yesterday that a possible bid for Gap, the US retail company, was “not such a crazy idea”. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Two arrested in inquiry into collapse of WeaveringCity of London Police have made two arrests as part of a formal investigation by the Serious Fraud Office (SFO) into the collapse of Weavering Capital, a flagship London hedge fund. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Parents face difficulty of paying for private schooling in recessionDesperate times call for desperate measures. And when private schools hit by the recession start threatening to exclude pupils, not for anything they have done, but because their parents are late with fees, you know something is seriously wrong. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Record fall in GDP sees Germany take over as the ‘sick man of Europe’The eurozone economy slumped by a record 2.5 per cent in the first three months of the year, dragged down by Germany, which recorded the biggest drop in its GDP in nearly 40 years. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Mid-caps or madcaps: has the FTSE 250 rally run its course?Big is not always best – or not as far as the stock market has been concerned since the beginning of the year. Source: Latest Business News from Times Online | 15 May 2009 | 11:00 pm Obama to revive military trialsPresident Barack Obama announced that he would use military commissions to try some of the 240 prisoners detained at Guantánamo Bay, angering civil rights groups for the second time in a weekSource: Financial Times - US homepage | 15 May 2009 | 10:52 pm SEC lawyers probed for insider tradingWASHINGTON (Reuters) - Two U.S. Securities and Exchange Commission enforcement lawyers are under investigation by federal criminal authorities for allegedly using insider information to trade stocks, a report by the SEC's internal watchdog said.Source: Reuters: Business News | 15 May 2009 | 10:51 pm SEC lawyers probed for insider trading (Reuters)
Source: Yahoo! News: Business | 15 May 2009 | 10:51 pm SEC lawyers probed for insider trading (Reuters)
Source: Yahoo! News: Stock Markets News | 15 May 2009 | 10:51 pm Latin American Markets: Mexico stocks down after rate cut; Brazil fallsMexican equities edge lower following an interest-rate cut by the central bank that falls in line with expectations. Brazil's nine-week winning streak halts.
Source: MarketWatch.com - Top Stories | 15 May 2009 | 10:37 pm Following Chrysler, GM slashing U.S. dealers (Reuters)
Source: Yahoo! News: Business | 15 May 2009 | 10:32 pm Venezuela seizes US pasta companyVenezuelan President Hugo Chavez orders the temporary expropriation of a US-owned pasta mill, amid a battle over price regulation.Source: BBC News | Business | World Edition | 15 May 2009 | 10:28 pm Write-Offs: 05.15.09$$$ FDIC disputes report on bank CEOs being replaced [Reuters] $$$ Job of the Week: Morgan Stanley needs a credit risk analyst. That could be you. [DB Career Center] $$$ "Gone is the distinct masculine flavor of an all-male college. The maleness of the Nassau Inn's Tap Room has been replaced by a female, dainty, tearoom atmosphere. A glance at the Class Notes reveals that younger class secretaries are almost entirely women. My fear is that the Princeton Univer-sity I knew has been taken over by a female majority (for better or worse). I am surprised that other male graduates are not upset by these developments." Yeah! And don't think this hasn't had a direct affect on the Street, where you were once able to smoke pole on the desk without the prying eyes of women. Now? Not so! [PAW via AWL] $$$ Defecating is back at Merrill [clusterstock] $$$ Who wouldn't want to play asshole with these guys? You can, right here! 
Related: Morgan Stanley - Federal Deposit Insurance Corporation - Princeton University - Nassau Inn - Chief executive officer Source: Dealbreaker | 15 May 2009 | 10:27 pm Obama's top 10 stocksWhen it comes to policy, President Obama is moving like lightning. But when it comes to his investments, he's playing it cool.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 10:18 pm The Dow Jones industrials' moves since Lehman fall (AP)AP - How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman's fall, which touched off a paralysis of the credit markets and deepened the recession, the stock market has gone through an extended period of volatility that subsided during December but that has returned in 2009. The numbers are the closing levels for the Dow:Source: Yahoo! News: Stock Markets News | 15 May 2009 | 10:16 pm Currencies: Dollar loses to yen, gains on euroThe dollar tumbles against the yen but gains against the euro, after largely positive U.S. economic data fail to derail trades triggered by divergent reports on the global economy.
Source: MarketWatch.com - Top Stories | 15 May 2009 | 10:16 pm Dealership cuts open door to new-car savingsIf you’ve been hankering for a brand-new Chrysler Sebring convertible, a Ford Fusion or even a Lexus GS450, you’re sitting squarely in the driver’s seat: there are unprecedented deals now that probably won’t last past summer.
Source: MarketWatch.com - Top Stories | 15 May 2009 | 10:07 pm Germany drags eurozone faster into slumpGermany's economy contracted by a record 3.8% in the first three months of this year, even more than feared – dragging down overall eurozone growth and confirming it has been the worst hit among the big European countriesSource: Financial Times - US homepage | 15 May 2009 | 10:06 pm U.S. money manager takes aim at subprime servicer (Reuters)Reuters - A money manager owned by Canada's Manulife Financial Corp is seeking to fire one of the largest subprime mortgage companies in the United States, claiming that Carrington Mortgage Services is unfairly tarnishing some bonds.Source: Yahoo! News: Business | 15 May 2009 | 10:05 pm U.S. money manager takes aim at subprime servicerNEW YORK (Reuters) - A money manager owned by Canada's Manulife Financial Corp is seeking to fire one of the largest subprime mortgage companies in the United States, claiming that Carrington Mortgage Services is unfairly tarnishing some bonds.Source: Reuters: Business News | 15 May 2009 | 10:05 pm A car dealer survives the onslaughtThe Manfredis were among the fortunate ones Thursday, avoiding Chrysler's ax as it struck down nearly 800 dealerships across the nation.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 10:04 pm Wachter Says U.S. Housing Turnaround Depends on Job MarketSource: Bloomberg - All Podcasts | 15 May 2009 | 10:04 pm Initial public offerings to debut next week (AP)AP - The following is a list of initial public offerings planned for the coming week. Sources include Renaissance Capital, Greenwich, CT (http://www.ipohome.com) and SEC filings.Source: Yahoo! News: Stock Markets News | 15 May 2009 | 10:03 pm Stocks extend week's losses after 2-month rally (AP)
Source: Yahoo! News: Stock Markets News | 15 May 2009 | 10:03 pm Third Point Dumps Three
Third Point told investors this week that three senior executives are leaving the firm: Bruce Wilson, chief operating officer; Devin Dallaire, chief risk officer, and Tom Kratky, head of investor relations and marketing. The trio is being replaced internally. You have to give it to Loeb, he writes great copy. Three To Leave Third Point [Absolute Return Magazine]
Related: Investor relations - Bruce Wilson - Chief operating officer - Business - Financial services Source: Dealbreaker | 15 May 2009 | 9:56 pm Washington Calendar: Washington events for May 18 - 22A schedule of the top data and political events coming out of Washington in the coming week.
Source: MarketWatch.com - Top Stories | 15 May 2009 | 9:50 pm Stocks tumble at end of tough weekStocks fell Friday at the end of a down week on Wall Street, the first weekly decline in all three major indexes in 10 weeks, as investors reacted to economic news and word of General Motors' dealership closings.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 9:49 pm Buffett lifted Berkshire stake in Wells FargoA regulatory filing shows Berkshire Hathaway Chairman Warren Buffett lifted his company’s stake in Wells Fargo during the first quarter as shares of the giant bank swooned.
Source: MarketWatch.com - Top Stories | 15 May 2009 | 9:49 pm Movers & Shakers: Friday's biggest gaining and declining stocksAutoNation, Nordstrom, GM, FirstEnergy and Compuware are among stocks making notable moves in the markets on Friday.
Source: MarketWatch.com - Top Stories | 15 May 2009 | 9:43 pm Getting To Know Your CNBC Personalities
Orman is nothing if not a contradictory personality -- someone who travels with her own healthful, organic food but who also rewards herself, after a day in which she has sold $1 million worth of her books or financial-planning kits on QVC, with a binge at Taco Bell. Karen Fonner, who works with Orman at QVC, recalls that at the end of a workday about eight years ago Orman told her that she craved a hot dog. Fonner took her to a hot-dog stand and watched -- everyone in the vicinity watched -- as Orman devoured six hot dogs. Suze Orman Is Having A Moment [NYT]
Related: Suze Orman - Taco Bell - CNBC - QVC - Organic food Source: Dealbreaker | 15 May 2009 | 9:24 pm De Beers woos safe-haven investorsDe Beers has launched a campaign to promote diamonds as a safe-haven for investing as the company faces pressure to find new marketsSource: Financial Times - US homepage | 15 May 2009 | 9:23 pm Mortgage rescue: Still more hurdlesLoan servicers are overwhelmed by the flood of applications. Mortgage investors are angry about a congressional bill prohibiting them from suing servicers that modify loans. Foreclosures are rising as unemployment soars.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 9:21 pm Obama's personal finances are sound (AP)
Source: Yahoo! News: Business | 15 May 2009 | 9:16 pm The Weekly WrapKai Ryssdal goes through this week's news with Mike Mandel, chief economist for Businessweek, and Megan McArdle from The Atlantic's Business Channel.Source: Marketplace | 15 May 2009 | 9:12 pm YRC Worldwide, AIG, Blockbuster are big movers (AP)AP - Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 15 May 2009 | 9:12 pm How the major stock indexes fared Friday (AP)AP - Stocks extended the week's losses Friday as traders accustomed to economic news being "less bad" found little incentive to buy.Source: Yahoo! News: Stock Markets News | 15 May 2009 | 9:08 pm How the major stock indexes fared Friday (AP)AP - Stocks extended the week's losses Friday as traders accustomed to economic news being "less bad" found little incentive to buy.Source: Yahoo! News: Business | 15 May 2009 | 9:08 pm Share tips: buy H?T Group hold Centaur MediaCharles Stanley the stockbroker offers its advice on shares including H?T Group Centaur Media and HuntsworthSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 9:08 pm Dreier Sheets
House arrest isn't too harsh for dirty lawyer Marc Dreier, who's out of jail on $10 million bail under armed guards until his sentencing in July. Dreier claims to be so broke that he used his son Spencer's bar mitzvah money to pay for food for the last three months. But sources say he regularly orders miniburgers as takeout from pricey Le Cirque, downstairs from his $5.4 million One Beacon Court apartment. We could go for some good miniburgers actually. Or you could just send us some bar mitzvah money. (We assume the victim of that little theft is in the attached photo above). Taste of Freedom [The New York Post]
Related: Marc Stuart Dreier - Spencer - New York - Bail - United States Source: Dealbreaker | 15 May 2009 | 9:03 pm Buffett & Berkshire Hathaway Q1-2009 Holdings P to Z (BRK-A, PG, SNY, STI, TMK, USB, USG, UNH, UNP, UPS, WBC, WMT, WPO, WFC, WLP, WSC)Warren Buffett and Berkshire Hathaway Inc. (NYSE: BRK-A)(BRK-B) holdings for the first quarter of 2009 are now out for the cut off date here of March 31, 2009. There are some changes from the end of Q4 here in banking and here is the list of stocks alphabetically ‘P to Z.’ Procter & Gamble (NYSE: PG) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 9:02 pm Big banks fire up lendingLending at the nation's top banks perked up in March, according to a government report issued Friday, even as the U.S. economy continued to be mired in a painful recession.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 8:59 pm Hear: They Know YouOn today's Planet Money: Credit card companies have decided to become your friend, before it's too late. If they chat you up instead of sounding threatening when you call, they figure, you might pay them back first. That's the message from New York Times reporter Charles Duhigg, who just published What Does Your Credit Card Company Know About You? While they're getting friendly with you, credit card companies have managed to learn a thing or two about exactly your ways. For starters, they're never happier than when customers buy premium bird seed, or put their kids' pictures on their credit cards. But if they hang out at Sharx, an upscale pool hall in Montreal? That's bad news. With a special guest appearance by Sharx regular Laura Roberts. Bonus: Their last dollar. Download the podcast; or subscribe. Intro music: Department of Eagles' "No One Does It Like You." Find us: Twitter/ Facebook/ Flickr. 
Jen Weiss traded a dollar for the coin. Lisa Fleisher, a real estate reporter and blogger at the Newark Star-Ledger, sends this indicator: One. That's 1 silver dollar -- a real, Dwight D. Eisenhower silver dollar. On Fridays, we have bagels in the office, one for a dollar. The silver dollar was in the coffee mug. People usually hang onto pieces like that, right? "People really are down to their last dollar" -- that's Kathy O'Brien, the columnist here who brought in the bagels this morning. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 15 May 2009 | 8:42 pm CPI, production data point to easing recessionWASHINGTON (Reuters) - U.S. economic data offered more evidence on Friday that the recession's worst phase may be over, with April consumer prices unchanged and industrial output declining at a slower pace than in March.Source: Reuters: Business News | 15 May 2009 | 8:37 pm CPI, production data point to easing recession (Reuters)Reuters - U.S. economic data offered more evidence on Friday that the recession's worst phase may be over, with April consumer prices unchanged and industrial output declining at a slower pace than in March.Source: Yahoo! News: Business | 15 May 2009 | 8:37 pm Buffett & Berkshire Hathaway Disclose Holdings G to O (BRK-A, GCI, GE, GSK, HD, IR, IRM, JNJ, KFT, LOW, MTB, MCO, NLC, NKE, NSC, NRG)The first quarter of 2009 Warren Buffett and Berkshire Hathaway Inc. (NYSE: BRK-A)(BRK-B) holdings are now out for the cut off date here of March 31, 2009. There are some changes from the end of Q4. We have broken these down into 3 groups A to F, G to O, and P to Z so [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 8:36 pm SAP's new world orderOn May 19 Leo Apotheker will become SAP's lone CEO after sharing the title with Henning Kagermann for a year or so. He assumes the mantle at a troubling time.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 8:30 pm Food pricesThe rising cost of food remains a problem for manySource: BBC News | Business | World Edition | 15 May 2009 | 8:27 pm Gas: $2.29 and rising fastGas prices rose overnight, with the national average up nearly 12% in less than three weeks, according to a daily survey.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 8:26 pm Buffett & Berkshire Hathaway Q1-2009 Holdings A to F (BRK-A, AXP, BAC, BNI, KMX, KO, CMCSA, CDCO, COP, CEG, COST, ETN)We have just gotten the Warren Buffett and Berkshire Hathaway Inc. (NYSE: BRK-A)(BRK-B) holdings for the end of Q1-2009. The cut off date here was March 31, 2009 and there are some changes that have been seen here from the e3nd of Q4. We have broken these down into 3 groups of ‘A to F’ [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 8:25 pm SFO arrests two in hedge fund dawn raidsThe Serious Fraud Office swooped on two hedge fund managers in a dramatic dawnraid in connection with an investigation at Britishbased Weavering Capital.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 8:18 pm GS, JPM May Soon Be Free Of TARP Tentacles
Update: The above comment about Dimon packing heat was from Chaz-boy's CNBC report. Just to make sure we get the pain that will be brought on the government, should they choose to fuck with JD, CG reiterates the point in his latest column: JP Morgan CEO Jamie Dimon has made no secret of his desire to replay the TARP money, and according to people close to JP Morgan, he's likely "to go batshit if Goldman is able to repay before he does."
Related: Goldman Sachs - Washington - Troubled Asset Relief Program - JPMorgan Chase - Jamie Dimon Source: Dealbreaker | 15 May 2009 | 8:13 pm Our Continental cousins are ill but we're not the sick man of EuropeDominique StraussKahn correctly identifies that we are in the grip of a "Great Recession" you only need look at Europe's disastrous decline to see that.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 8:11 pm Chicago Booth Ads Insult To InjuryIMG is the student group for Chicago MBA students looking for positions with hedge funds, mutual funds, sell side, etc. Here are the stats on who chased and conquered that dream and who didn't. As an employment-seeker noted, "it wasn't really necessary to do all the number crunching when a 'you been fucked' would've sufficed," but I guess someone had the time and initiative. From: imgroup_09@lists.chicagobooth.edu On Behalf Of Boswell, Mariko
Related: Mutual fund - Hedge fund - Business - Investing - Funds Source: Dealbreaker | 15 May 2009 | 8:04 pm Cut Chrysler dealer still has driveAmaral Motors in Newtown, Conn. was a five-star Chrysler dealer. But after finding itself on the automaker's 800-dealer cut list, the generations-owned family business has to come up with a new plan. Amy Scott has the story.Source: Marketplace | 15 May 2009 | 7:58 pm FTN’s Low Sees Rising Default Rates on Prime Housing LoansSource: Bloomberg - All Podcasts | 15 May 2009 | 7:56 pm Retirement dreams face new realityThe recession has been a wake-up call for Americans who weren't preparing adequately for retirement. Alicia Munnell, director of the Center for Retirement Research at Boston College, talks with Kai Ryssdal about the changing picture for older workers.Source: Marketplace | 15 May 2009 | 7:51 pm Insurers claim bailout will cover lossesYesterday, the Treasury Department revealed six insurance companies are eligible for about $22 billion in taxpayer bailout money. John Dimsdale explores the companies' reasoning for asking for the money.Source: Marketplace | 15 May 2009 | 7:47 pm Ken Lewis Selling Assets
Related: Hilton Head Island South Carolina - Dennis Thompson - Ken Lewis - Boy - South Carolina Source: Dealbreaker | 15 May 2009 | 7:40 pm This Week’s LinksAn Irish student hoaxed journalists worldwide with a fake Wikipedia quote. Slate on the real reason CEO compensation got out of hand. The New York Times on how Norway is kicking butt, economically. Penelope Trunk on the 3 times you should lie at work.
Source: Business Pundit | 15 May 2009 | 7:35 pm Our 'lab rat' checks in on her financesGail George signed up to have us track her finances for 30 days. She talks with Tess Vigeland about what she learned in Week 2.Source: Marketplace Money | 15 May 2009 | 7:34 pm Going to prom on a tighter budgetHigh school students in Burbank, Calif., tell reporter Andrea Gardner how they're scaling back on prom because of the recession.Source: Marketplace Money | 15 May 2009 | 7:34 pm Getting PersonalTess Vigeland and Chris Farrell answer listener questions about life insurance and paying off a credit card cash advance.Source: Marketplace Money | 15 May 2009 | 7:34 pm How credit card companies track youTess Vigeland talks to The New York Times' Charles Duhigg about his upcoming article on credit card companies collecting more and more personal information about their customers.Source: Marketplace Money | 15 May 2009 | 7:34 pm Straight Story: RetirementOur economics editor Chris Farrell thinks about retirement a lot, and gets a lot of questions about it. Here's his assessment of the next American Dream for retirement.Source: Marketplace Money | 15 May 2009 | 7:34 pm Preventing ads from topping GoogleEver since Google started selling ads above its search list, competitors have been able to place themselves above searches. But businesses may be able to use trademark confusion as legal means to stop the practice. Janet Babin reports.Source: Marketplace | 15 May 2009 | 7:33 pm Pulte's Dugas Sees Leveling Out of U.S. Home PricesSource: Bloomberg - All Podcasts | 15 May 2009 | 7:31 pm Fund managers poised for wave of consolidationLAS VEGAS (Reuters) - Hedge fund and traditional money management firms hard hit by last year's market meltdown are poised for a surge of mergers and acquisitions to bolster depleted assets and widen sources of revenue.Source: Reuters: Business News | 15 May 2009 | 7:28 pm Deserted Mexican hotels offer flu-free guarantees to lure visitorsHotels in Mexico's coastal resort of Cancún, one of the world's most popular getaways, are adopting extreme measures as holidaymakers scramble to cancel bookings in the wake of the swine flu scareSource: Financial Times - US homepage | 15 May 2009 | 7:27 pm U.S. regulators seek protection for OTC derivatives investorsNEW YORK (Reuters) - Regulators are looking at ways to protect investors from losing funds backing their derivatives trades in the event of a Lehman-style bank failure.Source: Reuters: Business News | 15 May 2009 | 7:25 pm Barclays mulls 10bn BGI sale to shore up capitalBarclays shares jumped on the prospect that the bank may sell its fund management arm Barclays Global Investors.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 7:24 pm Desiderio Sees `Change of Tide' in Hamptons RentalsSource: Bloomberg - All Podcasts | 15 May 2009 | 7:19 pm Miller Says Manhattan Real Estate Prices Down 22%Source: Bloomberg - All Podcasts | 15 May 2009 | 7:16 pm Comp/Perk Watch '09: UBSI bet you thought things were looking up at our favorite Swiss bank in town, didn't you? 'Cause senior bankers' salaries are being raised 50 percent, a largess that may extend to "less senior" employees' salaries, if they play their cards right? Well WAKE UP, ladies. This bone is being thrown to (unsuccessfully) make up for something so much worse. Chief Executive Officer Oswald Gruebel also said the bank will make savings from cancelling employee benefits. In Switzerland he scrapped car leasing benefits, season tickets for trains, contributions toward gym memberships and free parking. I mean...what's the point anymore?
Related: Switzerland - Business - UBS AG - Investment Banks - Bank Source: Dealbreaker | 15 May 2009 | 7:15 pm Pearson rumoured to be interested in BPPThis and other news from the markets on Friday.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 7:11 pm Lonski Says No Bottom in Sight for New York House PricesSource: Bloomberg - All Podcasts | 15 May 2009 | 7:08 pm AmEx Joins Card Issuers With Double-Digit Charge-Offs (AXP, WFC, C)American Express Co. (NYSE: AXP) is probably feeling a little lucky today. On a day that the market is lower its shares are only down 2% after the company disclosed in an SEC filing that the company’s write-offs crossed the 10% mark to 10.1% on the managed basis and 10.4% on the owned basis as [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 7:06 pm Corporate entertainment loses its fizzThe days of wine and roses are fast becoming a thing of the past in this straitened economic environment.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 6:59 pm FDIC disputes report on bank CEOs being replacedNEW YORK (Reuters) - The Federal Deposit Insurance Corp disputed on Friday a report that said Chairman Sheila Bair believes some U.S. bank chief executives will be replaced in the next couple of months as regulators assess lenders' financial strength.Source: Reuters: Business News | 15 May 2009 | 6:50 pm FBI investigates SEC pair's share tradingThey were supposed to be catching crooks - but two lawyers working at the US's top financial watchdog stand suspected of the very act they were supposed to be policing.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 6:29 pm General Motors follows Chrysler's route and shuts dealershipsGM is to close about 2300 dealerships from its 6000strong US network as part of plans to avoid bankruptcy.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 6:09 pm Gotthelf Sees Gold Over $1,250 an Ounce If Economy DeterioratesSource: Bloomberg - All Podcasts | 15 May 2009 | 5:59 pm Some blue blood on the carpet at UBSWhat's in a name? For some investment bankers quite a lot.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 5:54 pm Insurer to Treasury: No thanks on TARPTreasury is offering bailout funds to big insurance companies, but some of the responses have been less than enthusiastic.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 5:51 pm Barclays rallies on sell-off hopeShares in Barclays rally on hopes that bank might sell its fund management arm, Barclays Global Investors, for about $10bn (£6.6bn).Source: BBC News | Business | World Edition | 15 May 2009 | 5:50 pm Presented By:Source: Dealbreaker | 15 May 2009 | 5:39 pm Release The Hounds
Federal Deposit Insurance Corp. Chairman Sheila Bair said some bank chief executives will be replaced in the next couple of months as the U.S. scrutinizes lenders subjected to tests to evaluate their financial strength. So let us ask what may or may not be an obvious question: Why exactly do we need the government to make management changes at the top that they could not force without controlling a majority of common if not for the particular accident that they happen to have a great deal of political power at the moment? We suspect two potential answers: 1. Shareholders just don't care that much to change management and the government is overreaching "because we can." 2. It's basically impossible to unseat entrenched management in a public company and government is performing a useful service by cracking the regulatory whip? Discuss. Bair Says Some Bank Chiefs Will Be Replaced in Next Few Months [Bloomberg]
Related: Federal Deposit Insurance Corporation - Bank - Sheila C. Bair - Sheila Bair - Bloomberg Television Source: Dealbreaker | 15 May 2009 | 5:39 pm SEC accuses Wellco Energy, 4 employees of fraud (AP)AP - The Securities and Exchange Commission has filed a civil lawsuit accusing Colorado Springs-based Wellco Energy LLC and four employees of fraud.Source: Yahoo! News: Stock Markets News | 15 May 2009 | 5:38 pm Europe in deepest recession since War as Germany suffersGerman economic policy is "bankrupt" economists have said. Reluctance to cut taxes and raise spending to blame.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 15 May 2009 | 5:30 pm 25 Armed Forces Day Quotes
2009 marks the 50th anniversary of Armed Forces Day, which honors Americans serving in the Army, Navy, Air Force, Marines, and Coast Guard. Find inspiration and honor in the 25 quotes below, which apply to all of the armed forces: 1. He loves his country best who strives to make it best. -Robert G. Ingersoll 2. From time to time, the tree of liberty must be watered with the blood of tyrants and patriots. -Thomas Jefferson 3. What counts is not necessarily the size of the dog in the fight – it’s the size of the fight in the dog. -General Dwight D. Eisenhower 4. American soldiers in battle don’t fight for what some president says on T.V., they don’t fight for mom, apple pie, the American flag…they fight for one another. -Lt. Col. Hal Moore 5. For those who have fought for it, freedom has a flavor the protected will never know. -Unknown 6. This nation will remain the land of the free only so long as it is the home of the brave. -Elmer Davis 7. Coffee tastes better if the latrines are dug downstream from an encampment. -US Army Field Regulations, 1861 8. Whoever said the pen is mightier than the sword obviously never encountered automatic weapons. -General MacArthur 9. Hard pressed on my right. My center is yielding. Impossible to maneuver. Situation excellent. I am attacking. -Ferdinand Foch (Battle of the Marne_ 10. If it moves, salute it; if it doesn’t move, pick it up; and if you can’t pick it up, paint it. 11. Bravery is being the only one who knows you’re afraid. -David Hackworth Li 12. If the enemy is in range, so are you. -Infantry Journal 13. People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf. -George Orwell 14. Leadership is the art of getting someone else to do something you want done because he wants to do it. -Dwight D. Eisenhower 15. The price of freedom is eternal vigilance. -Thomas Jefferson 16. There is no security in this life. There is only opportunity. -Gen. Douglas MacArthur 17. One cannot simultaneously prevent and prepare for war. -Albert Einstein 18. To lead uninstructed people to war is to throw them away. –Confucius 19. The more comfort the less courage there is. -Field Marshal Prince Aleksandr V. Suvorov 20. The object of war is not to die for your country but to make the other bastard die for his. -George Patton 21. Always forgive your enemies–nothing annoys them so much. -Oscar Wilde 22. Having lost sight of our objectives we need to redouble our efforts. -Anonymous 23. Courage is going from failure to failure without losing enthusiasm. 24. Soldiers usually win the battles and generals get the credit for them. -Napoleon Bonaparte 25. No man is entitled to the blessings of freedom unless he be vigilant in its preservation. -General Douglas MacArthur
Source: Business Pundit | 15 May 2009 | 5:29 pm FTC: It's war on car warranty 'robocalls'The Federal Trade Commission is attempting to shut down three companies that the agency alleges have bombarded millions of consumers since 2007 with deceptive "robocalls" to sell them phony extensions to their original vehicle warranties.Source: Business and financial news - CNNMoney.com | 15 May 2009 | 5:24 pm The Cost Of RaceYesterday we blogged a study from the Pew Research Center that showed younger people have had to cut back more than older ones. wonkguy responds: The interesting story at the PEW website is the disparity in the impact of the recession in the elderly based on race. Which, I assume is linked to the disparity in incomes of the groups (white/black/hispanic) when they were working. We will be dealing with the impacts of economic racial disparity for a long long time to come. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 15 May 2009 | 5:17 pm Penney, Abercrombie results show consumers wary (Reuters)
Source: Yahoo! News: Business | 15 May 2009 | 5:14 pm Retirement idyll seen changingThe vision of retirement created by Sun City may not last. Tess Vigeland talks with Kevin McHugh, who has studied the community, for his perspective on its future.Source: Marketplace Money | 15 May 2009 | 5:11 pm Still ScaredOur old friend the Ted Spread is at its lowest point since the crisis began. That's thanks to a lot of help from the government to unfreeze the credit markets. But another indicator that's fun to check is still running high, the volatility index or VIX. Also known as the fear index, it measures what the market thinks might happen to the stock market. And if you do the math, it says people think the stock market could fall (or rise) 8% in the next month. We are still in choppy seas. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 15 May 2009 | 5:08 pm T. Boone Pickens & BP Updated Stock Holdings (ANR, APC, COG, CHK, CNX, DVN, FLR, FWLT, HAL, MEE, OXY, STR, SLB, SU, RIG, WFT)This morning we got to see the new equity holdings of T. Boone Pickens, via his BP Capital Management, L.P., as of March 31, 2009. Some of the higher stakes look to be in Chesapeake Energy Corporation (NYSE: CHK), Devon Energy Corporation (NYSE: DVN), Suncor Energy Inc. (NYSE: SU), and Transocean Ltd. (NYSE: RIG). Here [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 4:37 pm Lower spending hits US retailersLeading US retailers have seen their quarterly results hit as consumers continue to tighten their belts, sending profits and sales lower.Source: BBC News | Business | World Edition | 15 May 2009 | 4:36 pm AAPL Weekly Headline Roundup: May 15A light week, but still some interesting news-bits, from 24/7 Wall St. partner Apple Investor News: • Analyst Comment: Kaufman Bros.’ Shaw Wu reiterated his Buy rating on AAPL and upped his price target to $160 from $152. • Analyst Comment 2: Susquehana’s Jeff Fidacaro, formerly the PC analyst at Merrill Lynch, initiated coverage of Apple with [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 4:28 pm Hilliard Says `Worst Is Over' in Rate of Economic DeclineSource: Bloomberg - All Podcasts | 15 May 2009 | 4:19 pm FBI probes possible insider trading by SEC lawyers (AP)AP - Federal prosecutors and the FBI have been investigating possible illegal insider trading by two Securities and Exchange Commission enforcement attorneys who were in a position to receive sensitive information about agency probes of public companies.Source: Yahoo! News: Stock Markets News | 15 May 2009 | 4:16 pm Weldon's juggling act divides criticsIn his seven years as New Zealand Exchange chief executive, former Olympian and Columbia University School of Law alumnus Mark Weldon has built something of an empire. Formerly a "number eight wire" order-matching exchange with...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Plunge in retail sales sign of belt-tighteningDescribed variously as "nasty", "ugly" and "a shocker", the March quarter's plunge in retail sales activity is seen as the clearest evidence yet that New Zealanders are making the painful adjustment towards living within their means. In...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm City of Sails sells itself in TV campaignAuckland is set to launch its biggest domestic tourism marketing campaign in a bid to attract more Kiwis to the city at a time when fewer people are arriving from overseas. The $1.8 million campaign, which is being driven by central...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Budget should be about jobs, not debtThe coming Budget has to be about jobs, declares David Cunliffe, not debt. Labour's finance spokesman says that if he was writing the Budget it is likely that the tax cuts Labour promised in sunnier times would have had to be pared...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Brian Gaynor : NZ weathering international economic stormMost economic and financial reports are dry and boring but there is one notable exception and it was published this week. The exception is the Reserve Bank's Financial Stability Report, which is published in May and November each...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Kiwi Income drop rattles some analystsKiwi Income Property Trust, with real estate valued at $1.9 billion, is being hit by the retail spending downturn and has told investors they will get less money next year. Sean Wareing, chairman of Kiwi's manager, said yesterday...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Car industry stuck in reverseIt was hardly a surprise to the car industry when Statistics New Zealand's latest retail figures showed motor vehicle sales were down 11.4 per cent in the first three months of the year. It was the eighth successive quarterly fall...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Big is good - especially when it's newSpace-conscious businesses moving to new industrial parks near Auckland Airport at Mangere are helping the area to prosper despite a general commercial property downturn, according to CB Richard Ellis. "We are experiencing high...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Diana Clement : Teach kids to save and reap rewardsThe credit crunch brings opportunities. One of them is to educate your children. Even primary school children may start following the news and it's a great chance to get them thinking about their money before they pass go and...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm Switched-on TrustPower makes $105mTrustPower has attributed a 7 per cent rise in full-year net profit to its ability to capitalise on high prices in the second half of last winter and by adding thousands of new customers. Net profit after tax was $105.1 million...Source: New Zealand Herald - Business | 15 May 2009 | 4:00 pm City Versus Country Battle Over Credit DerivativesThere seems to be a battle brewing between Rep. Barney Frank (D-MA) and Rep. Collin Peterson (D-MN) over who gets to rule over derivatives. Barney Frank, of course, runs the House Financial Services Committee. He is looking to fundamentally overhaul financial market regulation. We keep hearing that he wants to have ALL financial market regulation under his committee's umbrella. Which makes some sense: one system, one unified approach. But then there's Collin Peterson. He runs the Committee on Agriculture. His most famous contribution is the controversial, much loathed and much loved (depending on your zip code) Farm Bill. Peterson wants derivatives to fall under his committee. What do financial derivatives have to do with agriculture? And why are these two Dems fighting? The answer might affect all of us. The financial products that eventually became derivatives started (more than 150 years ago) as simple wheat and other agricultural futures. When the federal government started regulating options and futures in the 1920s, they were still largely agricultural. So, it made a lot of sense to put them under the Ag Committee. Of course, financial derivatives have grown up and the agricultural component is less and less important. But the Commodity Futures Trading Commission is still under the Agriculture Committee. As more and more derivatives are likely to fall under strict federal oversight, the CFTC wants to continue to run that particular show. Why? It's not entirely clear. There's always a bureaucratic desire to hold on to and expand power. But there's a potentially more dramatic reason. Collin Peterson's most important job is to deliver on the Farm Bill every six years or so. When you hear about subsidies for farmers, that's the Farm Bill. Depending on your perspective, the Farm Bill is either a massive and unfair transfer of wealth from city people to a handful of huge agribusiness or it's a vital tool in maintaining the American way of life. There is nothing more important to Collin Peterson, his constituents and the 30 or so congresspeople who represent the districts that get the most benefit from the Farm Bill. The last fight--over the 2008 bill--was long and ugly and it was the closest the farmers ever got to losing. The next fight--which starts in a couple years--is expected to be even closer and tougher. Some are saying Peterson wants to have a bunch of points of leverage when he fights that battle. And what better point of leverage than to be the man who regulates a big chunk of Wall Street. Frank and Petterson did release a public statement: ... we agree there must be strong, comprehensive and consistent regulation of OTC derivatives. As Chairmen of the Congressional Committees who share jurisdiction on this issue, we will work closely together to achieve that goal. My handy Congress-speak decoder ring tells me that "we will work closely together to achieve that goal" means, in regular English, "this is a vicious street fight and each of us is going to do everything we can to crush the other guy." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 15 May 2009 | 3:49 pm Coming homeResourceful young Ghanaians return to build their nationSource: BBC News | Business | World Edition | 15 May 2009 | 3:43 pm Tales From the Hedge Fund CryptThe Biden family legal flap and Andrew Cuomo’s investigations shed light on the era of shadow banking. By Mark Gimein of The Big Money What is it about siblings and the White House? Jimmy Carter had Billy, Hillary Clinton had Hugh Rodham, and George W. had Neil Bush. If Abel got elected president, it’s a near-certainty that Cain [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 3:33 pm Recommended ListeningOne of the things I love about radio is that there will be a story I've read in the papers and thought I understood. But then I'll hear it put together well for radio and I'll realize I didn't feel it the first time round. I didn't really absorb it. If you have a few minutes, I recommend pressing play on WNYC reporter Ailsa Chang's story about a homeowner who has entered Stage 2 of the housing crisis - filing a lawsuit. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 15 May 2009 | 3:21 pm BGC's Buik Says European Unemployment Is `Serious Issue'Source: Bloomberg - All Podcasts | 15 May 2009 | 3:19 pm US industrial output fall slowsIndustrial production fell in April for the sixth month in a row but at the slowest pace seen in that time, the Federal Reserve says.Source: BBC News | Business | World Edition | 15 May 2009 | 3:13 pm Russian economy in sharp slowdownRussia's economy contracted sharply in the first quarter of the year, hit by the global slowdown, Federal State Statistics figures show.Source: BBC News | Business | World Edition | 15 May 2009 | 3:12 pm Car Dealers Face End Of An Era
Scott Olson/Getty Images Stanley Balzekas, 85, above, learned this week that his Balzekas Chrysler dealership will lose its franchise. His father started the Chicago business in 1926. The Getty photographer who took the picture notes that Balzekas cried when he opened the letter telling him he was one of 789 dealers Chrysler is closing as it restructures. Today, General Motors plans to notify 1,100 dealers that it won't be renewing their franchise agreements. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 15 May 2009 | 3:04 pm Hidden Benefit of DryShips Getting Waivers (DRYS)DryShips Inc. (NASDAQ: DRYS) is seeing its shares surge on news that it has received waivers with lenders. We have been expecting this for some time, and fairly recent reports of a share sale made this only look more likely that waivers would be granted. This should even bring about some very positive trends after [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 2:24 pm XOMA’s Hijack Financing On News (XOMA)XOMA Ltd. (NASDAQ: XOMA) has seen shares on a roar yesterday and then again this morning. It was late yesterday that the company said it would also be entitled to royalties from its partner’s approval for CIMZIA after an approval indication for rheumatoid arthritis. And it was just this morning that the company announced a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall Street | 15 May 2009 | 1:46 pm US inflation unchanged in AprilUS consumer prices were unchanged in April, but recorded their largest year-on-year drop, data shows.Source: BBC News | Business | World Edition | 15 May 2009 | 1:39 pm Lands’ End Lures Women With Online Swimsuit Shopping
Most women will agree that shopping for a bathing suit is one of the most unpleasant tasks of the year. Land’s End has created a new, interactive website that allows women to shop in the convenience and privacy of home. If they can win over women who usually shop in stores, but opt to go online for this one purchase, they may attract a whole new client base. A lot of the the hesitance people have about buying clothing or shoes online have to do with getting the right fitting and feeling confident that returns will be painless. But once these objections are overcome, when a customer knows how a brand’s cuts fit her, and knows that anything not quite right can be easily exchanged or returned, then she’s potentially a customer for a very long time. The new Land’s End site, The Island, with its waves audio, images of cabanas, and flowing waterfall is a little corny, but also sort of nice and relaxing. It just might work. And they are doing quite a lot of social network based marketing within the online mom demographic. They’ve also added a sweepstakes component.
Will it work? What’s the best online retail site you’ve seen lately? Image Credit: LandsEnd.com screenshot
Source: Business Pundit | 15 May 2009 | 12:13 pm
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