|
|
|
|
25 Best Places to RetireThinking about your post-work home? You'll get huge bang for your buck -- plus lots of other perks -- in these towns.Source: Business and financial news - CNNMoney.com | 12 Sep 2009 | 4:32 am How pot became legitWhen Irvin Rosenfeld, 56, picks me up at the Fort Lauderdale airport, his SUV reeks of marijuana. The vice president for sales at a local brokerage firm, Rosenfeld has been smoking 10 to 12 marijuana cigarettes a day for 38 years, he says.Source: Business and financial news - CNNMoney.com | 12 Sep 2009 | 4:17 am Obama: More uninsured than you thinkIn an effort to cast health care reform as helpful to more Americans, President Obama on Saturday pounded home a new statistic: Nearly 50% of people under 65 have gone without coverage for at least one month over a decade.Source: Business and financial news - CNNMoney.com | 12 Sep 2009 | 4:04 am Auto Review: Four cars for $4 gas, if we get there againIn recent weeks, I have had the chance to sample some economy cars that might attract consumer attention if the price of gas goes up again, as many expect it will. Here are four gas sippers for your consideration:
Source: MarketWatch.com - Top Stories | 12 Sep 2009 | 4:01 am Auto Review: 2010 Toyota Prius V: Best gas sipper of the yearRolling down a deserted interstate very early in the morning at a legal 65, it struck me how far the Prius had come over the years
Source: MarketWatch.com - Top Stories | 12 Sep 2009 | 4:01 am Gazprom, Rosneft say Europe to remain No.1 customerMOSCOW, Sept 12 (Reuters) - Russian state-run energy majors Gazprom and Rosneft said on Saturday they would expand supplies to Asia but the Asian markets would not displace Europe as the main outlet...Source: RSS feed - channel BNewsBusiness | 12 Sep 2009 | 2:43 am Gazprom CEO sees risk to Ukraine Jan gas paymentsMOSCOW, Sept 12 (Reuters) - Russia still sees risks to timely payments by Kiev for Russian gas supplies for January 2010 when Ukraine will have presidential election, the head of Russia's gas export monopoly...Source: RSS feed - channel BNewsBusiness | 12 Sep 2009 | 2:39 am Bloomberg 'considering BusinessWeek bid'Financial news agency Bloomberg is considering a bid for BusinessWeek magazine, The Wall Street Journal has said. The newspaper, citing "people familiar with the matter," said on Friday...Source: RSS feed - channel BNewsBusiness | 12 Sep 2009 | 2:16 am Support is growing for a fliers' bill of rightsTwo major business groups join the call for federal legislation to aid airline passengers stranded on the tarmac.The travails of passengers on a flight stranded overnight on an airport tarmac in Rochester, N.Y., and new data on airline delays are giving fresh ammunition to supporters of an airline passenger bill of rights.
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am L.A. mortgage brokers are accused of stealing nearly $1 millionThe California attorney general's office says that beginning in 2007, the three co-workers conspired to forge clients' signatures on phony refinance documents and pocket fees based on bigger loans. ...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am Wells Fargo vows 'decisive action' in alleged use of Malibu mansion by an executiveWells Fargo hopes to minimize damage to its public image over an exec's alleged use of a surrendered home. Its rules of conduct prohibit employees from 'personal use of properties' held by the bank. ...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am Support is growing for a fliers' bill of rightsTwo major business groups join the call for federal legislation to aid airline passengers stranded on the tarmac. ...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am Bailed-out companies begin posting limits on luxury expendituresThe federal government gave hundreds of firms that received rescue funds until Monday to put policies against excessive spending on their websites, but only a handful have done so.Chrysler Financial employees traveling on business can no longer be reimbursed for lunch on trips that don't require an overnight stay. If flying on business, they must travel coach if the flight is less than four hours. Tips to baggage handlers shouldn't exceed $2 per bag. The $4 cost of an in-flight movie? Not reimbursable.
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am Stocks decline slightly, ending a 5-day surgeThe drop came despite an upbeat profit forecast by FedEx and a report on improving wholesale sales.Stocks slipped in quiet trading Friday, ending a five-session rally, despite an upbeat profit forecast by an economic bellwether and a government report showing improving sales at wholesalers.
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am Bailed-out companies begin posting limits on luxury expendituresThe federal government gave hundreds of firms that received rescue funds until Monday to put policies against excessive spending on their websites, but only a handful have done so. ...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am Gold pushes to a record high: $1,006.40The precious metal's price tops $1,000 for the third time, but some wonder how long it'll stay at that level.Gold fever is back. The question is: For how long?
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am The new iPod Nano: More features, same sizeIt's a triumph of engineering and design that has managed to pack new features -- video camera, FM radio, microphone, speaker, dorky pedometer -- into an elegant device that's a pleasure to use. ...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am Wells Fargo vows 'decisive action' in alleged use of Malibu mansion by an executiveWells Fargo hopes to minimize damage to its public image over an exec's alleged use of a surrendered home. Its rules of conduct prohibit employees from 'personal use of properties' held by the bank.Wells Fargo & Co., seeking to distance itself from a company executive's alleged personal use of a $12-million beachfront Malibu home owned by the bank, said Friday that it would "take decisive action" against any employee "who may have violated Wells Fargo's policies."
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am FedEx shares jump on profit newsSHIPPINGSource: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am FedEx shares jump on profit newsSHIPPING
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am Gold pushes to a record high: $1,006.40The precious metal's price tops $1,000 for the third time, but some wonder how long it'll stay at that level. ...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am Questions about children and the workplace?School has started again, but child care is still an issue for working parents. With budgets tight, many families are finding it harder to pay for day care, which means Junior might end up sitting on Mom's...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am After a dry spell, the surf industry is getting its stoke backSwimwear, surf and skate manufacturers report more dealer orders at the biannual Action Sports Retailer trade show in San Diego. The 'prevailing vibe' is hope, one footwear maker says. ...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am Stocks decline slightly, ending a 5-day surgeThe drop came despite an upbeat profit forecast by FedEx and a report on improving wholesale sales. Stocks slipped...Source: RSS feed - channel BNPaperBusiness | 12 Sep 2009 | 1:00 am L.A. mortgage brokers are accused of stealing nearly $1 millionThe California attorney general's office says that beginning in 2007, the three co-workers conspired to forge clients' signatures on phony refinance documents and pocket fees based on bigger loans.Three Southern California mortgage brokers have been arrested on suspicion of stealing nearly $1 million from borrowers seeking to adjust their home loans.
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am After a dry spell, the surf industry is getting its stoke backSwimwear, surf and skate manufacturers report more dealer orders at the biannual Action Sports Retailer trade show in San Diego. The 'prevailing vibe' is hope, one footwear maker says.Board shorts, bikinis and flip-flops were again the dress code at the biannual Action Sports Retailer trade show.
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am The new iPod Nano: More features, same sizeIt's a triumph of engineering and design that has managed to pack new features -- video camera, FM radio, microphone, speaker, dorky pedometer -- into an elegant device that's a pleasure to use.With the iPod getting to be old hat, Apple Inc. has frantically piled on extras in an attempt to make the player seem fresh again.
Source: L.A. Times - Business | 12 Sep 2009 | 1:00 am Venezuela finds vast gas reservePresident Hugo Chavez unveils the discovery of a huge field of gas that could put Venezuela in the world's top five producers.Source: BBC News | Business | World Edition | 12 Sep 2009 | 12:46 am Market Snapshot: U.S. stocks get retail, inflation test next weekInvestors will use retail-sales and other data reports next week to fine-tune expectations about the recovery.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 10:01 pm Stocks to Watch: Stocks in focus for MondayThese stocks are expected to see significant movement in trading Monday.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 10:01 pm September 12, 2008 (Friday): Will Lehman Find a Buyer?; How Harvard's Endowment DidLehman Awaits Buyout BidsWith the future of Lehman Brothers on the line, three options seem clear: a sale of Lehman, a bankruptcy filing or a desperate attempt to somehow continue in business. Top executives spent the day in meetings as possible takeover bids over the weekend loom. The most likely buyers are seen as Bank of America and Barclays—but a deal is far from certain. Federal officials want Lehman to conclude a deal by Sunday evening. With the future so cloudy, many employees rush to prepare their resumes. (For more on this news, click here and here.) Newest Economic Numbers Are a Mixed BagEconomic news released by the government today sends mixed signals. Though the Producer Price Index report for August eases fears about inflation, the retail sales report is discouraging. “It’s a ray of hope on the inflationary front, but dark clouds on the horizon for consumers,” the chief economist at Merk Mutual Funds tells the New York Times. “If you’re not confused, you’re not paying attention.” Worried consumers rolled back spending on retail goods and food, causing a 0.3 percent dip in August after a 0.5 percent monthly drop in July, according to the Commerce Department. Economists had been expecting an increase of 0.2 percent. (For more on this news, click here.) Fatal Train Crash in Los AngelesIn a Los Angeles suburb, a commuter train and a freight train collide, killing 25 people and injuring more than 130. The engineer of the Metrolink commuter train is faulted for failing to heed a traffic signal. (For more on this news, click here.) Harvard Endowment Posts 8.6% ReturnHarvard University’s endowment reports a return of 8.6% for the year ended June 30—well below the 23% return seen in the previous fiscal year. The returns lifted the value of Harvard’s endowment to $36.9 billion. (For more on this news, click here.) SMARTMONEY ® Layout and look and feel of SmartMoney.com are trademarks of SmartMoney, a joint venture between Dow Jones & Company, Inc. and Hearst SM Partnership. © 1995 - 2009 SmartMoney. All Rights Reserved.
Source: SmartMoney.com | 11 Sep 2009 | 10:00 pm 3 more bank failures bring 2009 total to 92Regulators close Cbanks in Illinois, Minnesota and Washington as the credit crisis continues claiming victims.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 9:41 pm Banker lived it up in bank-owned Malibu house: report (Reuters)Reuters - A community watchdog group expressed outrage and Wells Fargo said it was launching an investigation after a newspaper reported that a senior exec threw lavish parties at a beachfront Malibu house owned by the bank.Source: Yahoo! News: Business | 11 Sep 2009 | 9:19 pm Banker lived it up in bank-owned Malibu house: reportSAN FRANCISCO (Reuters) - A community watchdog group expressed outrage and Wells Fargo said it was launching an investigation after a newspaper reported that a senior exec threw lavish parties at a beachfront Malibu house owned by the bank.Source: Reuters: Business News | 11 Sep 2009 | 9:19 pm Bank boss wary of quick recoveryRBS chief executive Stephen Hester warns that the UK must not seek an over-rapid recovery from recession.Source: BBC News | Business | World Edition | 11 Sep 2009 | 8:58 pm Obama slaps tariff on Chinese tiresThe Obama administration will sklap a special tariff on Chinese-macde tires.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 8:56 pm Corrections: John Dvorak's Second OpinionThe Sept. 11 "John Dvorak's Second Opinion" column incorrectly stated the company that was responsible for the Sync platform. It was corrected to show that the program belongs to Ford Motor Co.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 8:43 pm GM cars: No refund needed - mostlyWhen General Motors announced its new money back guarantee Thursday many people no doubt envisioned the automaker's Detroit headquarters buried under a mountain of returned Chevys and Buicks.Source: Business and financial news - CNNMoney.com | 11 Sep 2009 | 8:16 pm Obama student loan plan may save more money (Reuters)Reuters - The Congressional Budget Office said on Friday that a student loan reform plan backed by Sallie Mae and other lenders might save U.S. taxpayers $17 billion less than one backed by the Obama administration.Source: Yahoo! News: Business | 11 Sep 2009 | 8:12 pm U.S. regulators close Corus Bank, to sell assets later (Reuters)Reuters - U.S. regulators seized Corus Bank on Friday in the fourth-largest bank failure this year and sold its deposits to MB Financial Bank .Source: Yahoo! News: Business | 11 Sep 2009 | 7:44 pm U.S. regulators close Corus Bank, to sell assets laterWASHINGTON/NEW YORK (Reuters) - U.S. regulators seized Corus Bank on Friday in the fourth-largest bank failure this year and sold its deposits to MB Financial Bank .Source: RSS feed - channel BNewsBusiness | 11 Sep 2009 | 7:44 pm U.S. regulators close Corus Bank, to sell assets laterWASHINGTON/NEW YORK (Reuters) - U.S. regulators seized Corus Bank on Friday in the fourth-largest bank failure this year and sold its deposits to MB Financial Bank .Source: Reuters: Business News | 11 Sep 2009 | 7:44 pm 3 more down: Bank failure tally hits 92Regulators closed one large bank in Illinois and two other smaller financial institutions on Friday, pushing the total number of failures this year to 92, according to the Federal Deposit Insurance Corp.Source: Business and financial news - CNNMoney.com | 11 Sep 2009 | 7:36 pm Cadbury, Kraft set for long haggle over priceLONDON/NEW YORK (Reuters) - With Cadbury lacking a white knight bidder to come to its rescue in the face of Kraft's $16.1 billion bid, the two companies are set to face off on one question: How much is Cadbury really worth?Source: Reuters: Business News | 11 Sep 2009 | 7:15 pm Small banks that still love TARPWhen it comes to TARP, it's better late than never for some banks.Source: Business and financial news - CNNMoney.com | 11 Sep 2009 | 7:05 pm John Dvorak's Second Opinion: Ford's new technology is now Job OneFord Motor Co. is showing off its new Taurus and hybrid Fusion -- emphasizing the tech features of both cars. Can all this newfound glitz and gimmickry save the U.S. automakers? It's not clear, but but Ford seems to have the right ideas.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 6:55 pm Columbia endowment off 16.1 percent, beats Ivy rivalsBOSTON (Reuters) - Columbia University said on Friday that its endowment lost 16.1 percent in its last fiscal year, far less than its Ivy League rivals Harvard and Yale.Source: RSS feed - channel BNewsBusiness | 11 Sep 2009 | 6:24 pm Columbia endowment off 16.1 percent, beats Ivy rivalsBOSTON (Reuters) - Columbia University said on Friday that its endowment lost 16.1 percent in its last fiscal year, far less than its Ivy League rivals Harvard and Yale.Source: Reuters: Business News | 11 Sep 2009 | 6:24 pm Regulators seize construction lender Corus BankFederal regulators on Friday said they seized Corus Bancshares Inc., a major Chicago-based lender to condominium, office and hotel projects, adding it to the long list of banks that have...Source: RSS feed - channel BNewsBusiness | 11 Sep 2009 | 6:21 pm Columbia endowment off 16.1 pct, beats Ivy rivalsBOSTON, Sept 11 (Reuters) - Columbia University said on Friday that its endowment lost 16.1 percent in its last fiscal year, far less than its Ivy League rivals Harvard and Yale.Source: RSS feed - channel BNewsBusiness | 11 Sep 2009 | 6:18 pm NHL says Balsillie must say sorry to own a teamNEW YORK, Sept 11 (Reuters) - Canadian billionaire James Balsillie was told on Friday that he will need to apologize and show humility if he wants to one day achieve his dream of owning one of North America's...Source: RSS feed - channel BNewsBusiness | 11 Sep 2009 | 6:13 pm Cadbury, Kraft set for long haggle over priceLONDON/NEW YORK (Reuters) - With Cadbury lacking a white knight bidder to come to its rescue in the face of Kraft's $16.1 billion bid, the two companies are set to face off on one question:Source: RSS feed - channel BNewsBusiness | 11 Sep 2009 | 6:12 pm UPDATE 1-FDA approves Quest, Vermillion ovarian cancer testLOS ANGELES, Sept 11 (Reuters) - The U.S. Food and Drug Administration on Friday said it has approved a blood test for detecting ovarian cancer in a pelvic mass that already is known to require surgery...Source: RSS feed - channel BNewsBusiness | 11 Sep 2009 | 6:05 pm Lies and cover-up at MG Rover exposed by reportA damning report into the collapse of MG Rover claimed yesterday that one of its former directors attempted to destroy evidence after the company went bust in 2005 and another was having a personal relationship with a consultant who was paid £1.6 million by the business. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Primark founder Arthur Ryan steps asideArthur Ryan, the publicity-shy founder of Primark, stepped down yesterday as the discount retailer’s chief executive. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm The black September when the unthinkable happenedTo the bitter end, no one could quite believe that Lehman Brothers would be allowed to fail. Throughout that weekend a year ago today, it was widely thought that some kind of rescue would be effected, that the US Government would capitulate, that someone would blink. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Soaring FTSE shrugs off anniversary of Lehman Brothers’ collapseUK stock markets yesterday capped a triumphant week by closing at their highest levels since Lehman Brothers, the US investment bank, collapsed a year ago this weekend. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Analysts sound note of caution as China celebrates wave of economic good newsWorries over the strength of China’s economic recovery were soothed yesterday as a raft of surprisingly bullish official data showed soaring industrial activity, bank lending and investment. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Shortage of sellers allows homes in the countryside to limit the leaks in valueOwners of rural properties whose values have fallen can draw some consolation from the much steeper declines suffered by city dwellers. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Hedge fund and private equity leaders protest against EU clampdownHeavyweights from the hedge fund and private equity industries yesterday lined up to attack the architect of a controversial European investments directive, which they claim threatens their business and the competitiveness of the City of London. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Lehman, Barclays and the countdown to financial crisisHaving spent 15 years building Barclays Capital into one of the financial world’s most successful franchises, Bob Diamond decided to go shopping for a bank. He had sensed an opportunity to catapult Barclays Bank into the big league on Wall Street. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm The Rover debacle is down to sheer cowardiceThere is just one thing that makes more depressing reading than the Government’s £16-million, 850-page report into the collapse of the Rover Group. That is the news that Lord Mandelson is just about to make a similar mistake by trying to bribe Vauxhall’s new Canadian owners with £400 million of our money to keep open its factories in Luton and Ellesmere Port. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Sweet dreams, but not for usEver since Monday and Kraft’s surprise £10 billion nibble at Cadbury, the same tune has been playing in my head and won’t go away. It’s the jingle from a TV commercial for Cadbury’s Fruit and Nut chocolate bars, probably some time around 1975. Frank Muir sings “Everyone’s a fruit and nutcase” to Tchaikovsky’s melody for Dance of the Sugar Plum Fairy. I’ve also been plagued by strange yearnings for Liquorice Allsorts, another Cadbury brand, a feeling I have not had for 40 years. Source: Latest Business News from Times Online | 11 Sep 2009 | 6:00 pm Sowanick Says Stock Rally Unsustainable: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 5:29 pm Top Ten: MarketWatch's top stories of the week, Sept. 7-11Not even a better consumer-confidence reading than expected could cheer people up, snapping the recent winning streak for U.S. stocks.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 5:29 pm BlackRock to launch trading platformBlackRock, the asset manager poised to become the world’s largest money manager with $3,000bn makes a move that could challenge the business at the heart of many Wall Street groupsSource: Financial Times - US homepage | 11 Sep 2009 | 5:13 pm When click of a mouse cost £2,000A woman loses £2,000 after a slip of her computer mouse while undertaking a financial transaction online.Source: BBC News | Business | World Edition | 11 Sep 2009 | 5:04 pm FDIC pushes mortgage help for joblessSome unemployed homeowners at risk for foreclosure could get a temporary break on their mortgage payments under a plan being pushed by the FDIC.Source: Business and financial news - CNNMoney.com | 11 Sep 2009 | 4:50 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 before kicking into a big rally starting this spring. The numbers are the closing levels for the Dow:Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 4:48 pm Stocks slip after 5-day advanceStocks slipped Friday, as falling oil prices dragged on the influential commodities sector and investors took a step back after pushing the major indexes to 11-month highs in the previous session.Source: Business and financial news - CNNMoney.com | 11 Sep 2009 | 4:34 pm Hostile deals can save beaten stocks, for a whileInvestors stuck with losing stocks may want to start hoping a hostile buyer will emerge. New research shows gains after a hostile bid is announced can wipe out losses of the underperforming target's stock. But investors that hold onto shares gamble that the deal won't fall apart.
Source: MarketWatch.com - Top Stories | 11 Sep 2009 | 4:30 pm Write-Offs: 09.11.09$$$ Citigroup is the 'Bank of the Future' [The Deal] $$$ Mack And Gorman Address The Troops: "Yes, there were tears." [Dealbook] $$$ Jamie Dimon: America's Most Important Banker [Newsweek] $$$ Value Line sets aside $48 million for SEC deal [MW] $$$ Job of the week: Morgan Stanley needs an investment bank vice-president. You. [DB Career Center] $$$ Bernie's penthouse-- on Lex-- priced at $9.9 million [NYP] 
 Sponsored Topics: Morgan Stanley - Jamie Dimon - Business - Citibank - investment bank Source: Dealbreaker | 11 Sep 2009 | 4:00 pm Villa owners welcome receiversNew Zealand-based investors in a big Fiji resort have welcomed receivers.The Villa Owners Association, representing 80 per cent of investors at the exclusive Denarau Island Fiji Beach Resort & Spa managed by Hilton, say they are...Source: nzherald.co.nz - Business | 11 Sep 2009 | 4:00 pm Stocks slide after 5 days of gains as oil falls (AP)
Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 3:59 pm Ken Lewis Wants You To Know He Did NOT Come Up With This Shit
New expense policy governs excessive expenses
Sponsored Topics: Bank of America - Troubled Asset Relief Program - Business - Federal government of the United States - United States Source: Dealbreaker | 11 Sep 2009 | 3:49 pm Lessons From London
But, undaunted, the first lady will try to close the deal by heading to Copenhagen to convince the IOC that Chicago, more than any other city, wants a crack at demonstrating responsible Olympic funding.
As a native of the Windy City, she should know fire and Chicago don't mix too well.
Sponsored Topics: International Olympic Committee - London Development Agency - Chicago - 2012 Summer Olympics - Olympic Source: Dealbreaker | 11 Sep 2009 | 3:41 pm Consumer sentiment improves, inventories dropNEW YORK (Reuters) - Improving U.S. consumer sentiment and a big drawdown in wholesale inventories on Friday built on recent evidence that an economic recovery was picking up speed.Source: Reuters: Business News | 11 Sep 2009 | 3:30 pm How the major stock indexes fared on Friday (AP)AP - Investors pulled money out of stocks Friday after a five-day rally left the market at its highest levels in nearly a year. Stocks slipped in quiet trading after the recent string of gains and a drop in oil prices. Crude slid 3.7 percent, which hurt some energy stocks like Exxon Mobil Corp. That overshadowed a rosier profit forecast from FedEx Corp. and a government report on improving sales at wholesalers.Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 3:07 pm Opel workers, politicians seek Magna deal answersFRANKFURT (Reuters) - Workers at Opel, German politicians and customers of Canada's Magna expressed concern on Friday about whether General Motors' decision to sell a majority of Opel to Magna and Russia's Sberbank will turn out to be a favorable deal.Source: Reuters: Business News | 11 Sep 2009 | 2:52 pm Podcast: Clipping Coupons For Health Care
Drug maker AstraZeneca will offer you "savings" of up to $50 a month to choose their purple pill over the generic. (Rennett Stowe / Flickr) On today's Planet Money: Co-pays for prescription drugs are one of the ways health insurance companies try to contain costs. They make the generic cheaper than the brand name for you, the consumer, so you'll chose the drug they have to pay less for. It's been a pretty effective system for years, but now the drug companies have come up with a way to get around it. They're handing out "co-pay assistance cards," which are basically like coupons for prescription drugs. They offer you up to $50 off the co-pay of a particular brand name drug, making the brand name effectively cheaper than the generic. It may sound like a great deal for consumers, but John Rockoff, who reported the story for the Wall Street Journal, says the coupons come with some hidden costs. Bonus: After the jump, an listener spots rising home prices in Phoenix. Download the podcast; or subscribe. Intro music: Interpol's "Obstacle 1." Find us: Twitter/ Facebook/ Flickr. Back in July, listener Matthew Gindlesperger sent us this photo of a housing development in Phoenix, Ariz. Construction crews working for a new developer had returned to the site after the original developer lost the property in foreclosure. Today he sends this image, with an updated price. 
This sign used to say "Distinctive New Homes from $190,000."( Matthew Gindlesperger / Flickr) He writes: Who says there is no inflation? I guess it depends what you are buying. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Sep 2009 | 2:40 pm U.S. posts $111.4 billion August budget deficitWASHINGTON (Reuters) - The U.S. government on Friday posted a smaller-than-expected $111.40 billion budget deficit for August, marking a record-matching 11 straight months of deficits.Source: Reuters: Business News | 11 Sep 2009 | 2:33 pm FDIC urges mortgage help for unemployed (AP)AP - The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can't pay their mortgage bills.Source: Yahoo! News: Business | 11 Sep 2009 | 2:27 pm Insurance Companies Would Prefer It If Hurricane Victims Would Just Quit Their Bitching
This kind of gives a new meaning to the term insurance fraud. Unsettled claims and unsettled lives [Houston Chronicle]
Sponsored Topics: Insurance - Houston Chronicle - Gulf Coast of the United States - United States - Hurricane Ike Source: Dealbreaker | 11 Sep 2009 | 2:25 pm Why no camera in the iPod touchSource: Business and financial news - CNNMoney.com | 11 Sep 2009 | 2:21 pm San Francisco gets green techBrainstorm Tech: The city is using advanced technology - and the strong arm of government - to turn itself into one of America's greenest cities.Source: Business and financial news - CNNMoney.com | 11 Sep 2009 | 2:17 pm St Modwen chairman Anthony Glossop approved MG Rover 'bribe'Anthony Glossop approved a £100000 "bribe" to an associate of the "Phoenix Four" it has been claimed.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 2:07 pm Tom Colicchio Palling Around With Noted Ponzi Scammers
Sponsored Topics: Bernard Madoff - Ponzi scheme - Fraud - Tom Colicchio - American Express Source: Dealbreaker | 11 Sep 2009 | 2:05 pm MetroPCS Merger Hopes… A Leap or Prayer? (PCS, LEAP, VM, S)If you are a regular reader of 24/7 Wall Street, the notion that MetroPCS Communications Inc. (NYSE: PCS) might be a merger play won’t be a surprise. We first noted back in early August after Sprint Nextel Corporation (NYSE: S) and Virgin Mobile USA (NYSE: VM) merged that its old deal with Leap Wireless International [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 2:04 pm Deutsche to Liquidate Its Oil ETN for $295.7 Million: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 1:59 pm RBS Employee Has A Friday Afternoon Question For The GroupTrading floor evacuated at RBS in Stamford. In all seriousness, how are supposed to lose the UK taxpayers money standing out in the street? Open to suggestions. Update: All good in the hood. They just let us back in, sprinklers went off in cafeteria. That was anti-climatic. Game on!
Sponsored Topics: Stamford - Business - UK - Investing - England Source: Dealbreaker | 11 Sep 2009 | 1:57 pm Why not look forward rather than back on this anniversary weekendThis morning we start the weekend which last year sealed the fates all various but all ignominious of Lehman Brothers AIG and Merrill Lynch.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 1:43 pm Swonk Says Fed May Not Stay Ahead of Inflation: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 1:43 pm WSJ: Economists Say Recession Is Over, Unemployment To Keep RisingBy Laura Conaway Economists in a new Wall Street Journal survey (subs. requ'd.) say the labor market should start adding jobs within the next 12 months but that unemployment will keep growing into 2010. From the WSJ: "We are in a technical recovery, but risks remain abundant," said Diane Swonk of Mesirow Financial. "It will still take some luck and skill to get Main Street to feel some of the relief Wall Street has felt." You can say that again. The survey includes 51 economists, 41 of whom say the recession is over and the recovery has begun. Their average prediction for the peak of unemployment is 10.2 percent. It was at 9.7 percent in August, and the economists say it will likely be 9.3 percent at the end of 2010. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Sep 2009 | 1:39 pm Steinbrück seeks global taxGermany’s finance minister has called for a global levy to be imposed on financial transactions in an effort to end what he derided as ‘binge-drinking’ on marketsSource: Financial Times - US homepage | 11 Sep 2009 | 1:38 pm Fed's Feldman Says Creditors Need Clear Rules to Follow: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 1:24 pm Delta in talks to take Japan Airlines stake: sourceTOKYO/ATLANTA (Reuters) - Delta Air Lines , the world's largest carrier, is in talks to take a minority stake in Japan Airlines Corp in a bid to expand its reach in Asia, a source familiar with the matter said on Friday.Source: Reuters: Business News | 11 Sep 2009 | 1:23 pm Delta in talks to take Japan Airlines stake: source (Reuters)
Source: Yahoo! News: Business | 11 Sep 2009 | 1:23 pm SFO to investigate possible criminal intentions in Iceland's collapsed banksSerious Fraud Office to help 'get to the bottom' of whether there were any criminal intentions in the country's collapsed banks.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 1:21 pm FSA 'to take action' over Lehman productsCity watchdog to take action against companies which sold 'capital protected' investment products backed by Lehman Brothers.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 1:13 pm FSA acts on Lehman-backed productThe financial watchdog is to take action against firms over a type of investment backed by failed bank Lehman Brothers.Source: BBC News | Business | World Edition | 11 Sep 2009 | 1:03 pm Russia Has Some Eye-Popping Issues
But should he want to have that drink and contemplate Russian attitudes towards the state solving everyone's problems, he may run into a problem there. It turns out the state, Medvedev specifically, has identified a "colossal" problem in Russia: drinking. In response to the average annual per capital alcohol intake of 5 gallons of pure ethanol, the president has proposed banning containers larger than 11 ounces of low alcohol beverages. But before panic grips the nation, an executive director of the Russian Beer Producers Union set the record straight about what constitutes low.
Sponsored Topics: Kremlin - Soviet Union - Dmitry Medvedev - Russia - Caucasus Source: Dealbreaker | 11 Sep 2009 | 1:02 pm U.S. posts $111.4 billion August budget deficit (Reuters)
Source: Yahoo! News: Business | 11 Sep 2009 | 12:48 pm Bove Says Gorman Appointment Big Gain for Morgan Stanley: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 12:47 pm China’s recovery starts to accelerateThe economy displayed fresh signs that its recovery was gathering pace, with data showing that investment, industrial output and credit all expanded more rapidly in AugustSource: Financial Times - US homepage | 11 Sep 2009 | 12:46 pm Wall Street slips after 5-day rally as oil weighs (Reuters)
Source: Yahoo! News: Business | 11 Sep 2009 | 12:44 pm Wall Street slips after 5-day rally as oil weighs (Reuters)
Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 12:44 pm Wall Street slips after 5-day rally as oil weighsNEW YORK (Reuters) - U.S. stocks edged down on Friday after five straight days of gains as the rally started to show signs of fatigue along with a drop in crude oil prices.Source: Reuters: Business News | 11 Sep 2009 | 12:44 pm This Week’s LinksAustralia’s Business Spectator provides excellent news and commentary from Down Under. Lawyers are cutting costs through social networks. Dean Baker says medical devices are expensive because of patent monopolies.
Source: Business Pundit | 11 Sep 2009 | 12:42 pm Aixtron Raised to `Overweight’ at JPMorgan: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 12:42 pm Cadbury staff's bittersweet feelings over Kraft bidCadbury 'has always looked after its workforce' but Kraft has said it will halt factory closures and invest in the Bournville site.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 12:40 pm Hidden costs emerge from the debris of Lehman crashUnwinding Lehman Brothers’ derivatives book might help regulators to unearth how they should push financial markets to changeSource: Financial Times - US homepage | 11 Sep 2009 | 12:34 pm Madoff penthouse sale to help pay fraud victimsNEW YORK: It's where Bernard Madoff broke down and confessed to his enormous fraud, frantically wrote cheques for millions of dollars as the scheme unravelled and appeared in a bathrobe to greet the FBI agents who arrested him.Soon...Source: nzherald.co.nz - Business | 11 Sep 2009 | 12:30 pm FedEx boosts 1Q forecast, signals global recoveryNEW YORK -- FedEx Corp., the world's second largest package delivery company, on Friday offered a signal that the global economy is improving, as it raised its first-quarter earnings forecast on better-than-expected international shipments and cost cuts.
Source: L.A. Times - Business | 11 Sep 2009 | 12:24 pm National Express lets CVCCosmen consortium examine booksNational Express has taken a big step towards being formally sold to CVC and the Cosmen family by allowing the consortium to examine its books with the view to tabling a 500pashare offer.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 12:14 pm 24/7 Wall St. TV: GM’s Own “Clunkers” ProgramThe “cash for clunkers” program was not kind to GM. It did not have a single vehicle on the list of the ten most purchased cars which was dominated by Toyota (TM), Honda (HMC), and Ford (F). GM had 17.6% of the total new cars sold, behind Toyota’s 19.4%. The plan did not do much [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 12:10 pm Oil & Gas Rig Counts Falter (OIH, DIG, USO, OIL)Baker Hughes, Inc. (NYSE: BHI) has released its weekly rig counts and the gains we were seeing look as though they may have started to already peter out. Throw that in with an almost $3.00 drop to almost $69.00 in NYMEX WTI crude, and we are seeing two of the four key oil ETFs getting [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 12:09 pm Exxon said to be taking another look at BGSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 12:09 pm Putin hints at bid for Kremlin comebackThe Russian prime minister indicated that he might take part in the 2012 presidential election, saying he and the incumbent, Dmitry Medvedev, would together decide who would run for the postSource: Financial Times - US homepage | 11 Sep 2009 | 12:07 pm Live-Blogging Gasparino's Sit-Down With John Mack1:03: Glasses, because this is a serious interview. 1:04: Get a load of that suit. 1:05: CG: "Just to clarify, when you say 'Lloyd,' that refers to Lloyd Blankfein, yeah?" 1:06: Tits Cabrera would like to know what it's like being the CEO that sucks the most second only to Ken Lewis. 1:07 Tits isn't trying to give J-Mack a hard time, but really, she wonders, when you think about how hard you've blown this thing over the last few years, how do you look yourself in the mirror?
Sponsored Topics: Lloyd Blankfein - Ken Lewis - Goldman Sachs - Business - Bank Source: Dealbreaker | 11 Sep 2009 | 12:03 pm Shell pay chief Peter Job resigns five months after bonus rowThe chairman of Royal Dutch Shell's remuneration committee is stepping down five months after shareholders revolted over the oil company's pay awards.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 11:51 am A look at economic developments around the globe (AP)AP - A look at economic developments and activity in major stock markets around the world Friday:Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 11:51 am Review into Microsoft search deal deepensThe US Justice Department has asked Microsoft and Yahoo for more information about their proposed partnership in search results and related advertising, showing that antitrust officials are giving full scrutiny to the dealSource: Financial Times - US homepage | 11 Sep 2009 | 11:44 am Delta in talks for Japan Airlines stakeDelta Air Lines is in discussions to take an equity stake in Japan Airlines, an investment that would help secure a strategic partnership between the two carriers and tip the balance of power among the world’s global aviation alliancesSource: Financial Times - US homepage | 11 Sep 2009 | 11:41 am Tim Geithner Still Looking For A Little Help
The top post in tax policy is still waiting for somebody with few enough skeletons in the closet to make it through the vetting process after Elizabeth Garrett dropped out for undisclosed reasons. When not picking up the slack there, Team Treasury is being stretched thin handling the duties of the top international post in the department, Undersecretary for International Affairs, as nominee Lael Brainard is currently playing 20 questions about some of her tax deductions. Should he ever get some help, maybe TG can finally focus on the matter at hand and come up with a way to pay for saving the economy- like getting nominees for government posts to fork over their taxes.
Sponsored Topics: Troubled Asset Relief Program - United States Secretary of the Treasury - Timothy F. Geithner - Lael Brainard - Elizabeth Garrett Source: Dealbreaker | 11 Sep 2009 | 11:32 am Presented By:Source: Dealbreaker | 11 Sep 2009 | 11:32 am Taylor Says Recession Is Over, Sees `U-Shaped' Recovery: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 11:31 am Duffy Says KBW `Extremely Active' Raising Capital: AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 11:30 am Halpenny Says Euro May Breach $1.50 in `False Break-Out': AudioSource: Bloomberg - All Podcasts | 11 Sep 2009 | 11:30 am GM happy with fuel cellsBUFFALO: General Motors is 1.6 million kilometres into a fuel cell experiment and company officials say having everyday people drive a test fleet of pollution-free cars has convinced them they are on the right track.The carmaker...Source: nzherald.co.nz - Business | 11 Sep 2009 | 11:30 am Small talk: Grocery line, surgeons, suitsMarketplace's Brendan Newnam and Rico Gagliano talk with fellow staffers George Judson, Jeremy Hobson, and Stacey Vanek-Smith about under-the-radar business stories: the fastest grocery line, sleepy surgeons, and no suits to save costs in Bangladesh.Source: Marketplace | 11 Sep 2009 | 11:08 am New York's mindset 8 years after 9/11People throughout the country are remembering 9/11. For many, the memory of the terrorist attacks has faded a bit. But in New York, it's very much present in people's minds. Amy Scott reports.Source: Marketplace | 11 Sep 2009 | 11:08 am Businesses want gov't help on fluAt a Congressional hearing, businesses warned they might need a little government help to get them through a flu outbreak. Mitchell Hartman reports.Source: Marketplace | 11 Sep 2009 | 11:08 am Weekly Wrap: Why the markets are upT. Rowe Price's Andy Brooks and Fortune's Leigh Gallagher talk with Kai Ryssdal about why people are jumping back into the markets despite sobering economic realities, and whether reform can be expected.Source: Marketplace | 11 Sep 2009 | 11:08 am State tax revenue losses hurt schoolsThe University of California Board of Regents is mulling a tuition hike to fill a budget deficit. Joel Rose reports.Source: Marketplace | 11 Sep 2009 | 11:07 am Why all the bidders for BusinessWeek?News service provider Bloomberg is making a bid to buy BusinessWeek, one of several parties interested in the magazine. But isn't print media dying? Stacey Vanek-Smith reports.Source: Marketplace | 11 Sep 2009 | 11:07 am Sovereign wealth funds pull backDubai's sovereign wealth fund is stopping investments. Jeremy Hobson reports these types of funds haven't had the greatest year.Source: Marketplace | 11 Sep 2009 | 11:07 am Where's financial system regulation?White House economic adviser Lawrence Summers talks with Kai Ryssdal about what the Obama administration has done so far about the financial crisis, and what it plans to do to keep it from happening again.Source: Marketplace | 11 Sep 2009 | 11:06 am FSA to act on companies that missold Lehmanbacked structured productsThe FSA will take action against those who have missold Lehman backed products.Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 11:06 am Union talks 'constructive' - PMGordon Brown says protecting jobs will be at the top of his agenda after "constructive" talks with union leaders.Source: BBC News | Business | World Edition | 11 Sep 2009 | 11:04 am FedEx shares jump on improved outlookNEW YORK (Reuters) - FedEx Corp said profits in both the current and next quarters would be higher than Wall Street expected, citing an improving economy and stable fuel prices, and its shares jumped 6.8 percent to their best level in nearly a year.Source: Reuters: Business News | 11 Sep 2009 | 10:57 am VW eyes China and Malaysia boostVolkswagen is increasing its presence in China after agreeing a 4bn euros ($5.84bn; £3.5bn) investment.Source: BBC News | Business | World Edition | 11 Sep 2009 | 10:48 am Have we learned from the collapse?In the year since the start of the economic meltdown, Americans have been saving more and paying off debts. But have we really changed our ways? Tess Vigeland gets opinions from experts and regular folks.Source: Marketplace Money | 11 Sep 2009 | 10:46 am Special in Aisle 9! A 99-cent weddingTrue to its name, the 99-Cent Only chain charged nine lucky couples less than a dollar for a wedding ceremony at one of its stores in Hollywood on 9/9/09. Host Tess Vigeland talks to two of the newlyweds.Source: Marketplace Money | 11 Sep 2009 | 10:43 am I bow before my Queen of FrugalityCommentator W. Hodding Carter and his wife have committed to a frugal lifestyle. Carter says that by sticking to that commitment even on special occasions, such as their recent wedding anniversary, he rediscovers what he values in her.Source: Marketplace Money | 11 Sep 2009 | 10:43 am Tracking the ups and downs of housingHost Tess Vigeland talks to RealtyTrac CEO Jim Saccacio and Vice President Rick Sharga about tracking the housing market throughout the market's boom and bust cycle.Source: Marketplace Money | 11 Sep 2009 | 10:43 am Hotel's $19 luxury room has empty feelOn a lark, the general manager of the Rancho Bernardo Inn near San Diego thought he'd try to attract more business to the four-star resort by tweeting an offer for a $19 room. Marketplace's Cash Peters checked in to check it out.Source: Marketplace Money | 11 Sep 2009 | 10:43 am Getting PersonalHost Tess Vigeland and Economics Editor Chris Farrell answer questions about how same-sex couples should handle their assets and how to protect retirement money from over-taxation.Source: Marketplace Money | 11 Sep 2009 | 10:43 am The hidden costs of health careThose of us lucky enough to have health insurance usually get it through our employers. But that only obscures the real cost of health care. Joel Rose reports.Source: Marketplace Money | 11 Sep 2009 | 10:42 am Vermont bank invests in staying smallThe National Bank of Orwell in Vermont is one of the smallest banks in the nation with just 5,000 customer accounts. But for almost 200 years it's played a big role in its tiny community. Jane Lindholm reports.Source: Marketplace Money | 11 Sep 2009 | 10:42 am Budweiser Returns For US Investors (BUD, TAP, SAM, HOOK)Budweiser is back for US investors. It has been some time that US investors have been able to invest in an large beer company since Anheuser-Busch was acquired by InBev. But it is coming back to a US-stock-listing. Anheuser-Busch InBev has announced that starting Wednesday, September 16, its ADR will list on the NYSE under [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 10:42 am Playing the blame game with MG Rover reportSource: Finance and Business. Latest breaking news stocks and shares from the UK and world | 11 Sep 2009 | 10:36 am ConsMedia shares dropSYDNEY: Shares in Consolidated Media Holdings slumped 7.5 per cent after Kerry Stokes and James Packer called a temporary truce in their battle for control of the company.Stokes' Seven Network, which holds 19.9 per cent of ConsMedia...Source: nzherald.co.nz - Business | 11 Sep 2009 | 10:30 am Simon Johnson: Don't Leave Anything To The 'Experts'On this first anniversary of the financial crisis, we're running guest posts from economists about what they've learned in a miserable year. Today Simon Johnson, who teaches at MIT's Sloan School of Management, writes about how economics has changed in his classroom. I used to think of research and teaching as largely disconnected activities. Certainly there were spillovers in both directions, but my MIT MBA students were mostly interested in hands-on issues pertaining to entrepreneurial start-ups and company operations around the world, and my 20 years of research on economic crises often seemed somewhat distant from their concerns (except, perhaps, for students from Argentina, Russia or other emerging markets). After staring in the face of global financial collapse, and narrowly avoiding a Second Great Depression in the United States over the past 12 months, all this has changed. I now try to run everything I do, from classroom materials to op eds to technical papers, through my website, Baseline Scenario. This serves partly as a way to make explicit links between these various activities, but it also opens up both the MIT classroom to anyone interested, anywhere in the world, at the same time as allowing outside voices -- from the experienced and savvy community that regularly comments on the blog -- into our MIT face-to-face discussions. The website has plenty of opinions -- and suggestions for "reforms" of various kinds, ranging from financial innovation to healthcare - but it also tries hard to demystify issues. Questions from MIT students or from others on the blog lead to "explainer" material that helps structure further conversations about how the global economy works (or doesn't). This discussion-based material also becomes more explicitly political over time. Before the crisis I was more inclined to separate economic issues from underlying considerations of who had what kind of power in various societies. Now such distinctions seem increasingly artificial. If you want to think about where are the new opportunities in the world, including where to start a business and how to run it, you need to understand a great deal of the political environment -- both locally and globally. Nothing we have seen over the past year means we should shy away from taking real (as opposed to financial) risk. But it does suggest we should weigh carefully the potential scenarios for global economic development -- and take seriously the possibility that major global financial crisis is as much in our future as in our past. And the best way to stay on top of what is happening, and likely to come next, is find ways to engage actively in global economic debate. Don't sit back and assume that anything can be left to the "experts." This is not a homework assignment; this is a much broader suggestion, learned the hard way. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 11 Sep 2009 | 10:25 am US calls for patience on AfghanistanThe Obama administration said that it needed more time for its Afghanistan strategy to succeed, amid increasing discontent in Congress about any troop increasesSource: Financial Times - US homepage | 11 Sep 2009 | 10:20 am My Traffic Court Judge Is Not An EconomistBy David Kestenbaum I had the happy experience of visiting traffic court this week. The judge opened with a bit of comedy, asking: "I'm guessing most of you are here so you won't get points on your license?" "Yes," said the people in the courtroom. "I CAN'T HEAR YOU!" the judge said. "YES!" the people shouted, and then started laughing. The judge went on to say that this was the "people's court" and explained that if she gave probation on a ticket, no points would appear and the insurance companies wouldn't find out. "This court is not in the business of enriching the insurance companies," she said. Clearly the idea was that if the insurance companies find out, they'll charge you higher premiums and make more money. But I don't see why that would necessarily make them more money. Insurance companies are in the business of assessing risk. If you're such a bad driver that you're 100 percent likely to drive into a fire hydrant, the insurance company arguably needs to be charging you more. At some point they're going to have to pay out for the value of your car plus medical expenses, plus maybe a new fire hydrant. If they don't charge you more, they're going to have to raise premiums on everyone else. Maybe it's true that insurance companies make more profit on people who have a couple points on their licenses. But raising premiums for riskier drivers makes some basic sense -- it's how the companies even things out. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Sep 2009 | 10:11 am SEC's Schapiro Seeks to Restore Public Confidence: VideoSource: Bloomberg - All Podcasts | 11 Sep 2009 | 10:11 am Failed mission to rescue bank giantOn September 15 last year, investment bank Lehman Brothers collapsed, sparking a global financial meltdown. A year later, the Business Herald looks at how the crisis played out. Here, we focus on the weekend that led to the bankruptcy...Source: nzherald.co.nz - Business | 11 Sep 2009 | 10:00 am Shockwaves spread to NZA year ago as the failure of big Wall St investment bank Lehman Brothers propelled the credit crunch into its most acute phase, for many New Zealanders it probably seemed somewhat distant and abstract.But for those engaged with...Source: nzherald.co.nz - Business | 11 Sep 2009 | 10:00 am Surprise bonus from Red ShedsInvestors have reacted well to a surprise special dividend from The Warehouse, pushing the retailer's share price to a 14-month high.At its annual results announcement yesterday the Red Sheds declared a special dividend of 10c...Source: nzherald.co.nz - Business | 11 Sep 2009 | 10:00 am Mary Holm: Ardent saver misses the pointQ. I have read a lot of the articles about KiwiSaver, and I don't like it at all.Why would you let a bunch of unreliable politicians sublet your money to organisations that use your money to make them a profit, and give you a...Source: nzherald.co.nz - Business | 11 Sep 2009 | 10:00 am Bargains paying off - P&GCINCINNATI: The world's largest consumer products maker is finding that "new and improved" is still good, but "lower price" is working better.Procter & Gamble, a bellwether of consumer spending, is chasing bargain-hunting shoppers...Source: nzherald.co.nz - Business | 11 Sep 2009 | 10:00 am GPG hoping to take over TandouGuinness Peat Group is looking to take a controlling stake in Victorian agribusiness Tandou.In a letter to Tandou chairman Dick Warburton, GPG director Gary Weiss said GPG believed a reconsideration of Tandou's strategy was needed...Source: nzherald.co.nz - Business | 11 Sep 2009 | 10:00 am Transports Seeing Mixed Show on FedEx Guidance Hike (FDX, UPS, UNP, CSX, YRCW, NSC, KSU, BNI, JBHT, CNW, LSTR)We just noticed over at our volume spike alert service that FedEx Corporation (NYSE: FDX) was already challenging 150% of its average volume and was triple volume what it normally has traded by this time of the morning. This was really ramping up rival United Parcel Service, Inc. (NYSE: UPS) with a 4% gain, and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 9:33 am Finding Bottom? Wholesale Inventories Fall, Sales RiseBy Laura Conaway Part of companies' work in recovering from a recession is getting their businesses to be the right size for the limping market. They have to stop falling before they can start climbing. We're seeing more signs of that today from the U.S. Census Bureau, which says that wholesale inventories fell by 1.4 percent from July to June -- meaning merchants stockpiled less stuff -- and 12.8 percent from the year before. On the flip side, sales rose by 0.5 percent from June. Sales were down 12.8 percent from a year ago. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Sep 2009 | 9:29 am Rover bosses shamed over payoutBosses of MG Rover - whose collapse cost 6,500 jobs - gave themselves "unreasonably large" payouts, a report finds.Source: BBC News | Business | World Edition | 11 Sep 2009 | 9:14 am Shoveling The 'Vomit': UBS Emails In A Suit Over CDOsBy Caitlin Kenney The Wall Street Journal has new details about a lawsuit involving investment bank UBS and a Connecticut-based hedge fund, Pursuit Partners. Pursuit has accused UBS of selling it securities the bank knew were about to be downgraded -- putting Pursuit's investment at greater risk. E-mails that were part of the lawsuit show that UBS employees spoke in frank terms about the securities, collaterized debt obligations -- calling them "crap" and "vomit." From the Journal: On July 11, 2007, Moody's said it would review for possible downgrade a small percentage of the universe of CDOs, just after it cut ratings on subprime-mortgage bonds -- the building blocks for many CDOs. [UBS bond salesman Robert Morelli] sent an email on that day telling colleagues to "put today in your calendar." Mr. Morelli later said in the case the day "was essentially the beginning of the end of the CDO business, meaning the bonds were getting downgraded, they were probably going to get downgraded further, and we were going to lose a lot of money," according to a court transcript cited in Judge Blawie's decision. On July 26, UBS instructed employees to "reduce cdos ... no need to publicly relay this," the decision says. That day, Pursuit started its purchases from UBS. On Aug. 28, Mr. Morelli said in an email that he had "sold more crap to Pursuit," according to the decision. On Sept. 24, as the October downgrades neared, an unnamed UBS employee emailed a UBS banker and referred to CDO inventory on UBS's books. "OK still have this vomit?" the employee asked. Pursuit invested in three CDOs between July and October 2007. A few months later, the company says the securities defaulted and wiped out its entire $35.5 million investment. On Tuesday, a Connecticut judge ordered UBS to set aside millions of dollars to cover Pursuit's losses. UBS called the decision a "preliminary procedure" and said it was confident it would "prevail on the merits of the case." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Sep 2009 | 9:06 am US consumer confidence hits 3-month highConfidence among US consumers reached its highest level in three months, as a summer stock market rally and recent signs of economic stabilisation have raised optimism that a recovery could be in sightSource: Financial Times - US homepage | 11 Sep 2009 | 9:02 am First Solar’s New CEO High Compensation Package (FSLR, HON, GE)We previously noted how First Solar, Inc. (NASDAQ: FSLR) had scored on its new CEO. Robert J. Gillette is coming out of Honeywell International Inc. (NYSE: HON) to take over for founder Michael Ahearn and gets a seat on the board of directors. An SEC filing last night showed that Mr. Gillette is coming on board [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 8:43 am Geithner Wants To Wind Down TARP. Plus: Morgan Stanley's New DayBy Laura Conaway Good morning! Here's what we're reading today: Treasury Secretary Tim Geithner says it's time to start winding down the $700 billion TARP bailout program for banks -- but not before Vanity Fair goes quite long on TARP in Good Billions After Bad. Morgan Stanley's getting a new boss, lawyer James Gorman, in what's being called a "massive cultural shift" away from rewarding the top spots to high-earning investment bankers and traders. The Wall Street Journal (subs. requ'd.) reports that prosecutors are reportedly set to impanel a grand jury to consider indicting former AIG exec Joseph Cassano, whose AIG Financial Products group nearly caused the insurer to collapse last year. After much back and forth, GM has reached a deal to sell its Opel divison to a Canadian parts supplier and a Russian bank. The Economist wrestles with the Growth Obsession, meaning whether GDP is an indicator of health. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Sep 2009 | 8:40 am Brazil's economy leaves recessionBrazil follows countries such as Sweden and Japan by coming out of recession after its economy grew in the April-to-June quarter.Source: BBC News | Business | World Edition | 11 Sep 2009 | 8:34 am FedEx shares rise after comments on outlook (Reuters)Reuters - Shares of FedEx Corp rose 4.5 percent to $75.90 in premarket trading on Friday, after the company said its first-quarter earnings would exceed guidance.Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 7:12 am Top Day Trader Alerts (ALL, MO, AIG, AXL, DSCO, GRMN)These are this Friday’s top day trader alert stocks. We have more color and more detail on price and volume analysis linked through to each at VSInvestor.com: AllState Corp. (NYSE: ALL) is holding up better than we would have expected considering a Goldman Sachs downgrade to Sell. Altria Group Inc. (NYSE: MO) had unbelievable options trading yesterday, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 7:03 am This Week’s Weird Jobs
If you’re desperate for a job, know that some jobs are desperate for you, too. All you have to do is act like a deranged zombie, accept a pittance of a wage, or transport live chickens without killing them. I couldn’t make this stuff up: 1. FLA: Actors needed for Zombie attraction We are currently looking for actors to fill positions of Doctor Jones. This is a seasonal position! Your job will be to act as a very paranoid and eccentric doctor through densely wooded trails, as guests find their way through a total immersion action adventure. Pay will be $7.25 an hour. Do you get a bonus if you really are a very paranoid and eccentric doctor? 2. CO: Entry Level Collector The position requirements: We have plenty of work! Start @ $9 – $10 per hour Come to work every day? No slackers? They don’t set their standards very high. Then again, collection ain’t exactly a dream job. 3. FLA: Tiki Bar Server – Part Time A resort is looking for a Tiki Bar Server. Please see qualifications below. •High school or equivalent education required If interested, please send your resume by replying to this ad. $4.23/hour? This bar better be insanely busy, or have some high-end clients. You will get either a weekly minimum guarantee (to help you during the off weeks) or 80% of the commissions for the sales you make. Do the math…if you sell 8 Home or Auto policies a week at your current job do you make $1000….you would with use. Send a resume today before the spots are filled. Even if it was a misspelling, “you would with use” works oddly well in this situation… 5. TX: i need help moving my chickens I have approximately 1,243 chickens that need to be transported, i began my journey with my mini van but just was not working out, too many trips and too much shit and feathers, and with no ac it makes it very difficult when constantly tempted to roll the windows down, and because doing it all by hand i have lost 1 out of 4 chickens with my first 3 trips. if you have reasonable transportation for this chicken operation plz let me know. thank you. After reading this, I’m amazed the guy can run a chicken farm in the first place. Happy Friday!
Source: Business Pundit | 11 Sep 2009 | 7:02 am Belgium wants probe of Opel saleBelgium wants the European Union to investigate Germany's role in the sale of General Motor's European units.Source: BBC News | Business | World Edition | 11 Sep 2009 | 6:41 am British Gas staff 'altered' billsAbout 30 British Gas employees at a call centre in Leicester are suspended over allegations that bills have been tampered with.Source: BBC News | Business | World Edition | 11 Sep 2009 | 6:36 am Stocks rise on China data, Geithner remarks (AP)
Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 6:34 am China FX diversification makes sense: U.S. official (Reuters)Reuters - It makes sense for China to diversify its huge stockpile of foreign exchange reserves, the U.S. Treasury's economic and financial emissary to China said on Friday.Source: Yahoo! News: Business | 11 Sep 2009 | 6:25 am China FX diversification makes sense: U.S. official (Reuters)Reuters - It makes sense for China to diversify its huge stockpile of foreign exchange reserves, the U.S. Treasury's economic and financial emissary to China said on Friday.Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 6:25 am Top Analyst Upgrades (AXL, BRCD, CL, ELX, GRMN, PGR, Q, SLB, TTWO)These are this Friday’s top analyst upgrades, initiations, and positive research calls seen early from Wall Street: American Axle (NYSE: AXL) Raised to Overweight at Barclays. Brocade (NASDAQ: BRCD) Started as Outperform at Oppenheimer. Colgate-Palmolive (NYSE: CL) Raised to Buy at Goldman Sachs. Emulex (NYSE: ELX) Raised to Buy at Argus. Garmin (NASDAQ: GRMN) Raised to Buy at BofA/Merrill Lynch. Progressive [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 6:12 am Top Analyst Downgrades (AIG, ALL, BBY, CLX, ERTS, ITT, NWS, SII, TYX, VIP)These are this Friday morning’s top analyst downgrades and cautious research calls from Wall Street: American International Group (NYSE: AIG) Cut to Underperform at Wells Fargo. Allstate (NYSE:ALL) Cut to Sell at Goldman Sachs. Best Buy (NYSE: BBY) Cut to Perform at Oppenheimer. Clorox (NYSE: CLX) Cut to Neutral at Goldman Sachs. Electronic Arts (NASDAQ: ERTS) Cut to Neutral at [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 6:06 am An Honest Sign
Source: Business Pundit | 11 Sep 2009 | 5:59 am European stocks advance, FTSE above 5,000 points (AFP)
Source: Yahoo! News: Stock Markets News | 11 Sep 2009 | 5:36 am Twitter Can Now Share Your Tweets, Feed You Ads
Twitter altered its Terms of Service Friday, as a precursor to monetization. Erik Sherman has the scoop: # “Twitter is explicitly saying that content can and will be shared with others that “partner with Twitter for the syndication, broadcast, distribution or publication of such Content on other media and services, subject to our terms and conditions for such Content use.” Use of content can be made without any compensation to the people who created it. Given the ecosystem of add-on services that Twitter doesn’t make money from, you can understand the approach. But it also opens the door for the company to monetize content in a number of ways, including publishing collections of tweets on a subject or even analyzing content of tweets and making them available to companies that might wish to know what people are doing or saying.” # “Twitter notes that it has always kept the door open for advertisements, but the old TOS simply didn’t mention the term. Now it seems that the “Services may include advertisements, which may be targeted to the Content or information on the Services, queries made through the Services, or other information.” Other information is certainly going to include profile data for behavioral targeting. In addition, “… you agree that Twitter and its third party providers and partners may place such advertising on the Services or in connection with the display of Content or information from the Services whether submitted by you or others.” If they’re going to include ads, I can see how this would be necessary. But should they go that route, it’s going to potentially upset the millions of users who have been accustomed to getting a free lunch.” # “The section on privacy points to a separate privacy policy. Twitter gives itself the option to “use your contact information to market to you, and provide you with information about, our products and services, including but not limited to our Service.” Interestingly enough, I can’t find any language that would allow Twitter to share the information with third parties that aren’t directly performing functions or services for it. So advertising may be an option, but sharing or renting customer data, other than through being acquired or selling off the assets in case of bankruptcy, doesn’t seem to be.” Twitter is bound to lose customers if it takes the wrong approach to monetization. Who wants their tweets sold? And who wants to see more ads? And whose business, at this point, actually depends on Twitter for revenue? When all is said and done, it’s a relatively easy service to replace or ditch. Twitter needs to do more to make itself irreplaceable to customers before it starts trying to monetize through ads or selling tweets. Why not license Twitter software? Or sell out to a bigger company, where it can become part of a broader multimedia strategy? Trying to monetize off consumer information and inserting ads will only alienate users.
Source: Business Pundit | 11 Sep 2009 | 5:15 am GM Fuel-Cell Car Logs One Million MilesThe cloud that is GM may have found a silver lining. GM’s Chevrolet Equinox, which is powered by a pollution-free fuel-cell, passed its one millionth mile in test drives. The firm says that the trials have been done with about 5,000 people rotating in and out of more than 100 cars over the past 25 months. [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Sep 2009 | 4:05 am
|
