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Windows 7 Adoption Causing A Surge Of Corporate PC SalesMarket analysts and experts on IT spending have taken a “wait and see” approach to pass judgment on whether the launch of Microsoft’s (NASDAQ:MSFT) Windows 7 would cause quick adoption of the software at businesses. Upgrades to Windows 7 should cause a wave of purchases with the operating system already installed. The introduction of Windows 7 has [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Dec 2009 | 3:38 am Report: FBI probes hacker attack on CitigroupThe FBI is investigating a hacker attack on Citigroup Inc. that led to the theft of tens of millions of dollars, The Wall Street Journal reported Tuesday. Citing anonymous government...Source: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 3:33 am 3 ways to invest a $50,000 windfallQuestion: I'm 33 years old and seem to live paycheck to paycheck. I'll be coming into $50,000 soon, however, and I don't want to blow it. What's your advice on how I should invest this money once I have it? --Jay, Lowell, Mass.Source: Business and financial news - CNNMoney.com | 22 Dec 2009 | 3:29 am Lower payments = fewer redefaultsIt should come as no surprise that fewer troubled borrowers will redefault if their loan payments are lowered in a mortgage modification.Source: Business and financial news - CNNMoney.com | 22 Dec 2009 | 3:24 am Stocks ready to rise at openStocks were poised to open higher Tuesday as investors await reports on the overall economy and the housing sector.Source: Business and financial news - CNNMoney.com | 22 Dec 2009 | 3:23 am Moody’s Downgraded Debt Of Greece, Faith In Sovereign Debt Downgraded, TooMoody’s (NYSE:MCO) downgraded the government debt of Greece from A1 to A2. Very few economists or bankers will be surprised. Greece is dealing with a shrinking economy and growing national debt and budget deficits. It is not much different in terms of these problems than most other nations, including the US. The economies of more [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Dec 2009 | 3:19 am London Markets: Homebuilders lifted by broker upgrade; FTSE 100 upA survey suggests mild gains for U.K. house prices next year.
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 3:17 am Moody's downgrades Greek government bondsMoody's Investors Service downgraded Greek government bond ratings on Tuesday, delivering a new blow to a debt-ridden country struggling to restore its credibility in international markets.Source: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 3:16 am Stocks prepare for assault on year’s highsGlobal markets overview: Stocks gird themselves for an assault on 2009 highs on Tuesday as action in government bond markets provides a positive backdrop for equity bullsSource: Financial Times - US homepage | 22 Dec 2009 | 3:09 am The Government’s Loan Modification Program Does Not Have To FailThe government’s “Home Affordable Modification Program” required the investment of $75 billion of taxpayer money to alter home loans so that these loans could be more affordable for credit worthy home owners who could not make their previous mortgage payments. The program has been a failure for several reasons. The first is that lenders have only [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Dec 2009 | 3:05 am Third downgrade for Greek debtA third credit ratings agency downgrades Greek government bonds on worries about the country's high debt levels.Source: BBC News | Business | World Edition | 22 Dec 2009 | 3:04 am RPT-India Reliance's Lyondell buy seen unlikely in 2009MUMBAI, Dec 22 (Reuters) - Indian energy major Reliance Industries' bid to buy bankrupt petrochemicals firm LyondellBasell [ACCEIN.UL] is unlikely to result in a deal in 2009 as the target evaluates its...Source: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 3:01 am Book Time Away Before Time's Up with AirTran Airways' 24-Hour Sale FaresSource: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 3:00 am General Steel Announces Strong Results from its 2009 Annual Distributor ConferenceSource: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 3:00 am Livemocha Raises $8 Million in Series B FundingSource: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 3:00 am UK contraction less than thoughtThe UK economy did not contract as much as originally estimated in the July to September period, figures show.Source: BBC News | Business | World Edition | 22 Dec 2009 | 2:56 am UK economy contracts by 0.2pc in third quarter as recession drags onBritain's economy contracted by a worse-than-expected 0.2pc between July and September.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 2:55 am Dutch billionaire behind Spyker bid for Saab: reportAn unidentified Dutch billionaire is behind Dutch sportscar maker Spyker's last-ditch bid to buy ailing Swedish carmaker Saab from US automaker General Motors, a Swedish newspaper reported...Source: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 2:53 am Stocks prepare for assault on year's highs09:40 GMT. Stocks were girding themselves for an assault on 2009 highs on Tuesday as action in government bond markets provided a positive backdrop for equity bulls.The FTSE World index was up 0.3 per...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 2:46 am British economy shrinks 0.2% in third quarterBritain's recession-hit economy shrank by 0.2 percent in the third quarter of 2009, compared with the previous three months, revised official data showed on Tuesday.Source: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 2:44 am Greece's government ratings downgraded by Moody'sMoody’s is the third credit ratings agency to downgrade Greece in recent weeks on concerns over the euro-zone member’s deteriorating public finances.
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 2:43 am Dubai Financial Markets to buy Nasdaq DubaiStock market operator Dubai Financial Markets says it will buy its local rival Nasdaq Dubai for $121 million.
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 2:39 am UK stays in recession as output shrinks by 0.2%Britain failed to emerge from recession between July and September as new figures revealed that gross domestic product (GDP) shrank by 0.2 per cent in the third quarter, dealing a blow to hopes that the country has exited the longest slump since records began. Source: Latest Business News from Times Online | 22 Dec 2009 | 2:35 am CBS and Walt Disney may join Apple TV venture: report(Reuters) - Apple's plan of offering television subscription via the Internet might receive a boost with U.S. media companies CBS and Walt Disney's probable participation in the venture, the Wall Street Journal reported on Tuesday.Source: Reuters: Business News | 22 Dec 2009 | 2:25 am CBS and Walt Disney may join Apple TV venture: report (Reuters)
Source: Yahoo! News: Business | 22 Dec 2009 | 2:25 am CBS and Walt Disney may join Apple TV venture: report(Reuters) - Apple's plan of offering television subscription via the Internet might receive a boost with U.S. media companies CBS and Walt Disney's probable participation in the venture,...Source: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 2:25 am CBS and Walt Disney may join Apple TV venture -WSJDec 22 (Reuters) - Apple's plan of offering television subscription via the Internet might receive a boost with U.S. media companies CBS and Walt Disney's probable participation in the venture, the...Source: RSS feed - channel BNewsBusiness | 22 Dec 2009 | 2:23 am UK clears Ticketmaster, Live Nation mergerThe Competition Commission has cleared the merger of concert promoter Live Nation and ticket seller Ticketmaster.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 2:18 am UK bank charges case droppedUK regulator the Office of Fair Trading decides not to take any further court action over the fairness of bank overdraft charges.Source: BBC News | Business | World Edition | 22 Dec 2009 | 2:15 am Asian markets rise, Nikkei at 3-month high (AP)
Source: Yahoo! News: Stock Markets News | 22 Dec 2009 | 2:05 am Bank charges: what next for customers wanting compensationThe Office of Fair Trading has abondoned its legal case against the banks on overdraft charges.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 2:01 am UK regulator clears music mergerA merger between Ticketmaster and concert promoter Live Nation is cleared by the UK's Competition Commission.Source: BBC News | Business | World Edition | 22 Dec 2009 | 1:59 am Techs lead Asia rise; Nikkei ends at 3-month highAsian markets finished mostly higher Tuesday as technology stocks tracked gains in their U.S. counterparts and a weaker Japanese yen helped pull exporters higher in Tokyo, lifting the Nikkei 225 to its highest closing level in three months.
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 1:58 am Media Digest 12/22/2009 Greece Debt Downgraded By Moody’s: Reuters, WSJ, NYTimes, FT, BloombergMarketWatch: Moody’s (NYSE:MCO) downgraded Greece’s debt to A2 from A1 and said it had a negative outlook on the nation’s sovereign paper. Reuters: The FBI is probing a cyber attack on Citigroup (NYSE:C). Reuters: China is asking the WTO to rule on US duties on tires. Reuters: The US mortgage industry will have trouble with new disclosure rules. Reuters: A Chinese [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Dec 2009 | 1:57 am Stock futures signal more gains; eyes on data(Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.28 percent, Dow Jones futures up 0.27 percent and Nasdaq 100 futures up 0.51 percent at 3:40 a.m. EST.Source: Reuters: Business News | 22 Dec 2009 | 1:56 am Stock futures signal more gains; eyes on data (Reuters)
Source: Yahoo! News: Business | 22 Dec 2009 | 1:56 am Stock futures signal more gains; eyes on data (Reuters)
Source: Yahoo! News: Stock Markets News | 22 Dec 2009 | 1:56 am Europe Markets: Oil and gas firms help Europe shares to gainsFirms with oil and gas exposure move higher in Europe. Technology stocks also advance.
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 1:54 am Hopes for GDP data sustain London's rallyLondon equities continued to rise on Tuesday, buoyed by hopes that the final reading for UK third-quarter gross domestic product would be revised higher, but the pace of the rally eased and volumes were...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:53 am BoE's Adam Posen says fiscal,monetary policy workingThe Bank of England's Adam Posen was quoted on Tuesday as saying Britain's fiscal and monetary policies were a success, but that it was working on a "Plan B" in case its quantitative easing fell flat.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 1:48 am Futures Movers: Oil gains as OPEC expected to keep output steadyOil futures edged higher Tuesday after their decline in the previous session, as investors expected the OPEC oil cartel to leave production quotas unchanged at their meeting in Angola.
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 1:47 am Cairn Energy shareholders revolt over plans to change directors' payShareholders have revolted over Cairn Energy's plans to change the remuneration of its directors.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 1:40 am Hedge fund manager in line for $2.5bn payday$David Tepper, who runs the US hedge fund Appaloosa Management, is in line for a profit share of around $2.5 billion ($£1.5 billion) this year after betting heavily on a recovery in the stocks of banks including Citigroup and Bank of America. Source: Latest Business News from Times Online | 22 Dec 2009 | 1:38 am Currencies: Dollar erases earlier Asian gains vs. rivalsThe dollar got an early lift against major rivals in Asian trading Tuesday as U.S. Treasury yields rose, but the gains unraveled by the afternoon.
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 1:30 am German consumer sentiment slips for third monthsGerman consumer sentiment has fallen for the third month running, with shoppers particularly wary of making large purchases, the GfK economic research institute said on Tuesday.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 1:28 am Looking for high returns? Follow the moonImploding equities, exploding credit default swaps, soaring gold and slumping oil. Source: Latest Business News from Times Online | 22 Dec 2009 | 1:27 am Asia Markets And Europe Open (12/22/2009)Markets in Asia were mixed. The Nikkei rose 1.9% to 10,379. Toyota (NYSE:TM) rose sharply. The Hang Seng was up .7% to 21,092. The Shanghai Composite fell 2.3% to 3,051. At the open in Europe, the FTSE rose .3% to 5,308. The Dax was up .3% to 5,949. The CAC was up by .3% to 3,855. Data from Reuters and [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 22 Dec 2009 | 1:27 am FTSE extends gains at open (AFP)
Source: Yahoo! News: Stock Markets News | 22 Dec 2009 | 1:26 am Therese Poletti's Tech Tales: Will Apple and Verizon do an iPhone deal?Did an ad hoc group of disgruntled Apple Inc. iPhone users pulling a stunt last week have any impact showcasing the vulnerabilities in AT&T’s network?
Source: MarketWatch.com - Top Stories | 22 Dec 2009 | 1:25 am Beijing rejects UK Copenhagen criticismChina hits back at accusations from the British government that it blocked the approval of a stronger deal at the Copenhagen climate change talksSource: Financial Times - US homepage | 22 Dec 2009 | 1:07 am More prime mortgages default in 3rd quarterAlso: Many homeowners with modified mortgages fall behind again. And the number of homes in foreclosure rises, though new foreclosures are steady, report shows. ...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am More prime mortgages default in 3rd quarterAlso: Many homeowners with modified mortgages fall behind again. And the number of homes in foreclosure rises, though new foreclosures are steady, report shows.Troubled home loans continued to mount in the nation's banks in the third quarter as even once-solid borrowers increasingly fell behind on their mortgage payments.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am Twitter said to be profitable after making Internet-search dealsThe social-networking site will get about $25 million from agreements with Google and Microsoft, enough to push it into the black for the first time, sources say.Twitter Inc. will make about $25 million from Internet-search deals with Google Inc. and Microsoft Corp. announced in October, enough to push the site into profitability, people familiar with the matter said.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am Sumner Redstone's National Amusements closes deal to sell 29 theaters to Rave CinemasA transaction for the remaining six theaters -- which includes the Bridge Cinema de Lux multiplex in Los Angeles -- is expected to be finalized in the next couple of weeks.Sumner Redstone's family-owned movie theater circuit, National Amusements Inc., has closed a deal to unload 29 of the 35 non-core cinema assets it is selling to Texas-based Rave Cinemas. Financial terms weren't disclosed.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am World Trade Organization ruling may help open Chinese market to U.S. mediaThe WTO appellate body upholds an August panel decision that Beijing broke international rules in restricting market access to foreign films, DVDs and other cultural products.The World Trade Organization issued an expected but nonetheless important ruling Monday that takes the U.S. a step closer to opening up China's potentially lucrative market for its movies, music and books.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am Hoping for green holiday, Macy's refashions itselfThe venerable chain, building on its nostalgic appeal, is updating its operations to attract modern shoppersWrapped in the music, lights and relentlessly red decor of Christmas at Macy's, Kathleen Kwiatkowski opened her wallet with a little pull from holidays past.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am Sumner Redstone's National Amusements closes deal to sell 29 theaters to Rave CinemasA transaction for the remaining six theaters -- which includes the Bridge Cinema de Lux multiplex in Los Angeles -- is expected to be finalized in the next couple of weeks. ...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am Merger news from Sanofi, Bucyrus drives stocks upThe Dow gains 85 points after Sanofi- Aventis announces plans to buy Chattem, among other deals. Another wave...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am Sponsors, it's time to break those linksFor the immediate future, the branding opportunities of professional golf have been utterly vacated by Tiger Woods' philandering.My Christmas gift to you, dear reader, was to be that I would not write about Tiger Woods -- philandering golf god, emotionally retarded frat boy and straight-up liar. I think we're all pretty sick of it. Unfortunately, his sponsors keep dropping him like wormy fruit (Tag Heuer bumped him off their billboards last week). And so, given my charter, I am obliged.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am Twitter said to be profitable after making Internet-search dealsThe social-networking site will get about $25 million from agreements with Google and Microsoft, enough to push it into the black for the first time, sources say. ...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am Small-business bankruptcies rise 81% in CaliforniaWith credit tight and consumers still pinching their pennies, many business owners find they can't go on.The Obama administration's new plan to give a boost to small businesses reflects continued trouble in that sector, which is facing new failures even as much of the nation's economy is stabilizing.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am 3-hour limit placed on airline passengers' tarmac waitsThe Transportation Department orders domestic carriers, starting in April, to offer food and water on delayed flights and give fliers the chance to disembark. ...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am Are parents pushing the Zhu Zhu Pets craze?Continuing in the tradition of Tickle Me Elmo and Cabbage Patch Kids, the robotic hamsters might be generating more excitement among grown-ups than children. ...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am Are parents pushing the Zhu Zhu Pets craze?Continuing in the tradition of Tickle Me Elmo and Cabbage Patch Kids, the robotic hamsters might be generating more excitement among grown-ups than children.Parents across the country have lined up to buy this year's hot toy, Zhu Zhu Pets. But do the children even care?
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am World Trade Organization ruling may help open Chinese market to U.S. mediaThe WTO appellate body upholds an August panel decision that Beijing broke international rules in restricting market access to foreign films, DVDs and other cultural products. ...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am IPhone apps: A launch point for a new wave of tech giants?A 'gold-rush mentality' is inspiring hordes of developers and some Silicon Valley backers.Scott Lahman was sure he had a hit when his Marina del Rey company developed cellphone software that let people have a text messaging conversation with multiple participants at the same time, like a written conference call on the go.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am Sponsors, it's time to break those linksFor the immediate future, the branding opportunities of professional golf have been utterly vacated by Tiger Woods' philandering. ...Source: RSS feed - channel BNPaperBusiness | 22 Dec 2009 | 1:00 am 3-hour limit placed on airline passengers' tarmac waitsThe Transportation Department orders domestic carriers, starting in April, to offer food and water on delayed flights and give fliers the chance to disembark.Responding to horror stories of stranded passengers, federal regulators say they will begin levying hefty fines on airlines that leave travelers grounded in planes on the tarmac without food, water or the option to disembark.
Source: L.A. Times - Business | 22 Dec 2009 | 1:00 am FBI probes cyber attack on Citigroup: report(Reuters) - The Federal Bureau of Investigation is investigating a hacking that targeted Citigroup Inc and resulted in the theft of tens of million of dollars, the Wall Street Journal said, citing U.S. government officials.Source: Reuters: Business News | 22 Dec 2009 | 12:58 am Dubai exchange buys rival amid lingering debt fearsDubai Financial Market announced this morning that it will buy the city’s rival exchange operator Nasdaq Dubai in a $121 million ($£75.2 million) deal. Source: Latest Business News from Times Online | 22 Dec 2009 | 12:48 am Bank charges: OFT drops caseThe Office of Fair Trading has decided not to take further legal action against the banks over charges.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 12:44 am FBI probes cyber attack on Citigroup: report (Reuters)Reuters - The Federal Bureau of Investigation is investigating a hacking that targeted Citigroup Inc and resulted in the theft of tens of million of dollars, the Wall Street Journal said, citing U.S. government officials.Source: Yahoo! News: Business | 22 Dec 2009 | 12:32 am Banks, miners push Aussie market higherMELBOURNE - The Australian share market closed up more than one per cent, buoyed by banking stocks and the big miners.The benchmark S&P/ASX200 index closed up 69.1 points, or 1.49 per cent, at 4704.2 points, while the broader...Source: nzherald.co.nz - Business | 22 Dec 2009 | 12:20 am OFT drops case against banks' overdraft feesThe Office of Fair Trading (OFT) today said it would drop its investigation into bank overdraft charges but vowed to continue to press lenders to change their system of penalising customers for unauthorised borrowing. Source: Latest Business News from Times Online | 22 Dec 2009 | 12:19 am OFT drops unfair bank charges caseThe Office of Fair Trading has decided not to take further legal action against the banks over charges.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 22 Dec 2009 | 12:07 am Peter Brimelow: Buy-and-hold still alive and kickingThe top-performing mutual fund letter is cautiously optimistic and says 'buy and hold' is not dead.
Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 11:43 pm British Airways tie-up with American Airlines dealt blow by US Department of JusticeBA dealt a further blow as US Department of Justice seeks major concession to tie-up with American Airlines.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 11:28 pm Internet travel firms file suit against N.Y.C. taxA group of major Internet travel firms, including Expedia and Orbitz, file suit against New York City to stop the extension of a hotel tax on their clients.
Source: MarketWatch.com - Top Stories | 21 Dec 2009 | 11:18 pm Have investors missed a trick with Europe?I cannot recall the last time that a fund manager wanted to talk to me about its European offering.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 21 Dec 2009 | 11:17 pm Allied Farmers stocks rise before holidaysAllied Farmers shares rose today in a market that posted solid gains in the run up to the Christmas holiday break.The benchmark NZSX-50 index closed up 29.379 points, or 0.933 per cent, at 3179.184, after slipping 4.4 points yesterday....Source: nzherald.co.nz - Business | 21 Dec 2009 | 11:14 pm NZ dollar under pressure from USThe New Zealand dollar came under pressure from a rising US dollar today and did not get much of a lift from better-than-expected current account data for the September quarter.The focus is turning to the gross domestic product...Source: nzherald.co.nz - Business | 21 Dec 2009 | 10:27 pm Anworth Mortgage declares quarterly dividend (AP)AP - Anworth Mortgage Asset Corp.'s board of directors has declared a quarterly dividend of 28 cents.Source: Yahoo! News: Business | 21 Dec 2009 | 9:29 pm Mexico City to allow gay marriageMexico City becomes the first capital in Latin America to allow same-sex marriage with city legislators passing a law giving gay couples full marriage rightsSource: Financial Times - US homepage | 21 Dec 2009 | 6:56 pm Energy bonds on offerMeridian Energy is looking to raise up to $200 million through an offer of renewable energy bonds.The intended offer size was $150m, with the ability to accept up to $50m of oversubscriptions, Meridian said today.The company...Source: nzherald.co.nz - Business | 21 Dec 2009 | 6:30 pm GM names Microsoft finance chief as CFODETROIT/SEATTLE (Reuters) - General Motors Co has hired Chris Liddell, the chief financial officer of Microsoft Corp , as its new finance chief, bringing in a well-regarded auto outsider who could succeed GM's acting CEO Ed Whitacre when he steps aside.Source: Reuters: Business News | 21 Dec 2009 | 6:29 pm Are HP Computers Racist?According to this video, they just might be…
Source: Business Pundit | 21 Dec 2009 | 5:27 pm U.S. mortgage industry grapples with new disclosures (Reuters)Reuters - The biggest changes to home loan disclosures since the 1970s are around the corner and many in the industry are warning that misunderstandings will create a logjam of confusion just as housing tries to recover.Source: Yahoo! News: Business | 21 Dec 2009 | 5:24 pm U.S. mortgage industry grapples with new disclosuresNEW YORK (Reuters) - The biggest changes to home loan disclosures since the 1970s are around the corner and many in the industry are warning that misunderstandings will create a logjam of confusion just as housing tries to recover.Source: Reuters: Business News | 21 Dec 2009 | 5:24 pm Future tycoons?Teaching US students how to clinch a dealSource: BBC News | Business | World Edition | 21 Dec 2009 | 5:23 pm High stakesAre UK government debt levels really that high?Source: BBC News | Business | World Edition | 21 Dec 2009 | 5:18 pm Weekend snowstorm cuts U.S. holiday sales upsideNEW YORK (Reuters) - The heavy snowstorm that swept the East Coast of the United States over the weekend may have cost retailers the potential for any upside to holiday sales, industry experts said on Monday.Source: Reuters: Business News | 21 Dec 2009 | 5:11 pm 'Logbook loans' may be outlawedA form of secured borrowing known as logbook loans, or bills of sale, may be banned under government proposals.Source: BBC News | Business | World Edition | 21 Dec 2009 | 5:07 pm Spotlight on credit search systemA committee of MPs recommends an investigation into whether consumers are being penalised for shopping around for loans.Source: BBC News | Business | World Edition | 21 Dec 2009 | 5:07 pm Snow freezes out Christmas shoppersThe snow took its toll on the biggest shopping weekend of the year. Footfall was down 6.9 per cent last weekend against the corresponding weekend last year. Source: Latest Business News from Times Online | 21 Dec 2009 | 5:01 pm Excess of carbon allowances casts further cloud over EuropeA surplus of permits to emit 100 million tonnes of greenhouse gases is hanging over Europe’s carbon market, which slid yesterday as energy traders reacted to the failure of the Copenhagen climate change conference. Source: Latest Business News from Times Online | 21 Dec 2009 | 5:01 pm Developers suspend shopping centre projectsCelebrities, major and minor, loved them, from Leona Lewis and Girls Aloud at Westfield’s West London behemoth to David Cameron and his local neighbourhood police team in Witney’s West Oxfordshire country cousin. Yet the recent spate of shopping centres welcoming customers for the first time — and the actors, singers and even political leaders who squeaked across their burnished floors and cut a mile of silk tape to mark their openings — is, it seems, about to end. Source: Latest Business News from Times Online | 21 Dec 2009 | 5:01 pm Tens of thousands stranded as Eurostar resumes partial serviceTens of thousands of passengers will be unable to make planned journeys on Eurostar over Christmas despite the partial resumption today of services through the Channel Tunnel. Source: Latest Business News from Times Online | 21 Dec 2009 | 5:01 pm Future of BAA assets unclear after successful tribunal appealPlans to overhaul the ownership of Britain’s airports were thrown into confusion yesterday after BAA won an appeal against the break-up of its monopolies in London and Scotland. Source: Latest Business News from Times Online | 21 Dec 2009 | 5:01 pm Provinces to pick up in 2010 - real estate expertProperty prices in provincial and coastal areas will pick up in 2010, says the head of a national real estate company.Prices will firm as rural export revenues improve, interest rates remain low and demand returns for holiday...Source: nzherald.co.nz - Business | 21 Dec 2009 | 5:00 pm Current account surplus 'first in 20 years'New Zealand recorded a seasonally adjusted current account surplus of $340 million in the September quarter - the first such surplus since late 1988.A surplus in the current account means that New Zealand's earnings overseas are...Source: nzherald.co.nz - Business | 21 Dec 2009 | 5:00 pm Ford offers packages to cut staffCarmaker Ford offers incentive packages to all of its 41,000 US hourly workers in a bid to reduce its factory workforce.Source: BBC News | Business | World Edition | 21 Dec 2009 | 4:43 pm Rajaratnam, Chiesi plead innocent in Galleon case (Reuters)
Source: Yahoo! News: Business | 21 Dec 2009 | 4:40 pm Rajaratnam, Chiesi plead innocent in Galleon caseNEW YORK (Reuters) - Galleon hedge fund founder Raj Rajaratnam and co-defendant Danielle Chiesi asserted their innocence on Monday to charges of securities fraud, in what U.S. prosecutors describe as the biggest hedge fund insider trading case ever.Source: Reuters: Business News | 21 Dec 2009 | 4:40 pm Collapsed Lehman pays out big bonusesLehman Europe is the biggest and most complex part of the dead bank outside its US headquarters operationsSource: Financial Times - US homepage | 21 Dec 2009 | 4:31 pm Commodities Trading, Fertilizer Stocks: Taking Stock PodcastSource: Bloomberg - All Podcasts | 21 Dec 2009 | 4:22 pm Senate Democrats defend backroom dealsThe Democratic leader in the US Senate has vigorously defended the backroom deals needed to win enough support to pass his $871bn healthcare reform package on Christmas eveSource: Financial Times - US homepage | 21 Dec 2009 | 4:09 pm Investors cool on audit convergenceConvergence of US and international accounting standards is less important than making accounting rules more relevant to investment decisions, according to a poll of investorsSource: Financial Times - US homepage | 21 Dec 2009 | 4:09 pm Strong start on sharemarketThe New Zealand sharemarket started the day strongly after sharp rises on stock exchanges in the United States and Europe.Contact Energy shares were up 6c to $6.08 early as they continued to head up after dropping to a five-month...Source: nzherald.co.nz - Business | 21 Dec 2009 | 4:00 pm Air NZ to fly Sydney-RarotongaAir New Zealand is trialling a new direct service between Sydney and Rarotonga in the high season next year, while its latest operating update shows it is generally increasing the number of people on flights by reducing capacity.The...Source: nzherald.co.nz - Business | 21 Dec 2009 | 4:00 pm Merger news, analyst upgrades drive stocks higher (AP)
Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 3:47 pm Galleon founder pleads not guiltyRaj Rajaratnam pleads not guilty to charges of securities fraud in what is thought to be the biggest ever insider trading case.Source: BBC News | Business | World Edition | 21 Dec 2009 | 3:45 pm Ford offers buyouts to all UAW workersDETROIT (Reuters) - Ford Motor Co said on Monday it is offering its 41,000 U.S. factory workers buyouts and early retirement offers in a bid to reduce its payroll costs as it aims to return to profit by 2011.Source: Reuters: Business News | 21 Dec 2009 | 3:43 pm Write-Offs: 12.21.09$$$ The Hole on Brian Moynihan's Resume [WSJ] $$$ Feinberg allows incentives for key AIG employee [Reuters] $$$ Going Bald For Work [CNBC] $$$ Carl Icahn Drinks Trump's Milkshake in AC [Reformed Broker] 
 Source: Dealbreaker | 21 Dec 2009 | 3:33 pm Hedge Fund Manager Demands Cab Fare Be Reimbursed By Company He's ShortingLast week Harvest Capital Strategies manager Andrew Kaplan tried to attend an analyst meeting for First Solar, which he says he was invited to. Upon arriving at the Westin in New York, where the event was taking place, Kaplan received a badge, grabbed himself a Diet Coke, and waited for the conference to begin. Unfortunately, Andy never got to find out what the company had to say for itself, because he was approached by an IR person who informed him he need to leaving the building ASAP. First Solar claims Kaplan, who is short the stock, was never invited. He begs to differ, and doesn't understand why there'd be any reason to throw him out, since a) he was asked to come b) it's not like he looked like some hobo off the street. But whatever! He's not going to raise too big a stink about the whole thing. He just wants his damn money. The money it cost him to get himself back to the office after being asked to get off the property. "Andrew Kaplan was not invited to the live event, which had space limitations on attendance, but he managed to RSVP via e-mail and we did not catch the error in advance," Bernheimer said. "We regret any embarrassment or awkwardness caused by issuing him an admittance badge and then taking it back."
Source: Dealbreaker | 21 Dec 2009 | 3:30 pm Ford offers buyouts to UAW workersRead full story for latest details.Source: Business and financial news - CNNMoney.com | 21 Dec 2009 | 3:29 pm Weekend snowstorm cuts U.S. holiday sales upside (Reuters)
Source: Yahoo! News: Business | 21 Dec 2009 | 3:09 pm Banks with political ties got bailouts, study showsNEW YORK (Reuters) - U.S. banks that spent more money on lobbying were more likely to get government bailout money, according to a study released on Monday.Source: Reuters: Business News | 21 Dec 2009 | 3:08 pm Banks with political ties got bailouts, study shows (Reuters)
Source: Yahoo! News: Business | 21 Dec 2009 | 3:08 pm U.S. pay czar allows incentives for key AIG employeeWASHINGTON (Reuters) - U.S. pay czar Kenneth Feinberg yielded on Monday to pleas from American International Group to modify terms for a top employee the embattled insurer said was vital to its regaining stability.Source: Reuters: Business News | 21 Dec 2009 | 3:03 pm Brynjolfsson Sees TIPS ETF Prices Continuing to Fall: AudioSource: Bloomberg - All Podcasts | 21 Dec 2009 | 3:00 pm Product promises relief for insomniacsNew Image Group is trialing a milk product in Taiwan it says improves sleep and will decide whether to market it more widely by mid-2010 after trial results are assessed.The company is a pioneer of colostrum and other natural...Source: nzherald.co.nz - Business | 21 Dec 2009 | 3:00 pm How the major stock indexes fared on Monday (AP)AP - Another wave of corporate dealmaking stoked investors' confidence in the economy and carried stocks sharply higher Monday.Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 2:55 pm TSX pushes higher on upbeat outlook (Reuters)Reuters - Toronto's main stock index rose on Monday as optimism for a global economic recovery next year helped power shares of energy producer Canadian Natural Resources and its peers.Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 2:53 pm Twitter now profitable: reportsTwitter has reached profitability after signing deals with Google and Microsoft to make the micro-blogging service searchable on the internet, news agency AFP reported today.AFP reports an article in BusinessWeek magazine claims...Source: nzherald.co.nz - Business | 21 Dec 2009 | 2:50 pm Podcast: Shopping Center Economics
Alex chats up the man who only needs one name -- Maguire. (Amy Stevens/NPR) On today's Planet Money: Another very special radio competition. We sent Adam Davidson, Chana Joffe-Walt and Alex Blumberg to the International Council of Shopping Centers' New York Conference and challenged them to bring back the best economics stories they could find. Listen to their stories, hear our panel of celebrity judges weigh in and then decide who you think should be the winner. Bonus: Listen to each story individually and vote for the winner, after the jump. Download the podcast; or subscribe. Intro music: Flying Lizards' "Money." Find us: Twitter/ Facebook/ Flickr. Adam meets the anti-mall radicals. Chana goes in search of the cool kids. Alex meets the burger king.
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 21 Dec 2009 | 2:44 pm Walgreen, Alcoa, CVS Caremark are big movers (AP)AP - The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 2:43 pm 100 mpg: What we'll drive nextThese 6 insurgent automakers are outmaneuvering the Big Three to shape the future of the automobile.Source: Business and financial news - CNNMoney.com | 21 Dec 2009 | 2:42 pm Bonuses Bounce BackBy Daniel Costello Even as Wall Street bonuses come under regulatory scrutiny, others are enjoying huge paydays. Exxon Mobil Corp.'s blockbuster $41 billion deal this month to buy XTO Energy includes provisions for a huge payout for XTO Energy's chairman, Bob Simpson. Simpson, 60, will walk away with about $352 million worth of Exxon Mobil stock as well as a consulting pact with the oil major worth nearly $40 million when the deal closes, according to a filing with the Securities and Exchange Commission. The merger, which ranks as the sixth-largest in the world this year, is expected to close in the middle of 2010. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 21 Dec 2009 | 2:33 pm Koss says Nasdaq halts trading of its shares (AP)AP - Koss Corp. said Monday that Nasdaq halted trading of its stock due to the discovery of unauthorized transactions and that a vice president of finance had been put on administrative leave.Source: Yahoo! News: Business | 21 Dec 2009 | 2:27 pm Koss says Nasdaq halts trading of its shares (AP)AP - Koss Corp. said Monday that Nasdaq halted trading of its stock due to the discovery of unauthorized transactions and that a vice president of finance had been put on administrative leave.Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 2:27 pm Omega Navigation Upgraded, Blue Coat Downgraded: AudioSource: Bloomberg - All Podcasts | 21 Dec 2009 | 2:19 pm 52-Week High Club (X, AET, CI, AA, HGSI)United States Steel Corporation (NYSE: X) rose over 6.5% to a yearly high of $52.47 after the United States objected to a requestion by China that the World Trade Organization make a ruling on President Obama’s imposition of tariffs on Chinese tires. The U.S. imposed duties on steel-pipe imports from China in November. Titanium Metals [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Dec 2009 | 2:17 pm What? It's Not Like We Stole It Or SomethingIn the growing battle over stolen information, who can muster the most misplaced outrage? The French, for whom the ends (prosecuting tax evaders) justify the means (using a list stolen from HSBC)? Or the Swiss, defenders of the Eighth Commandment and erstwhile protectors of tax cheats from around the world? Or bets are on the French. "France is committing no fraud, the tax evaders are," said Eric Woerth, budget minister, in an interview on Canal Plus. "What counts is that we obtained [the information] legally."
Source: Dealbreaker | 21 Dec 2009 | 2:13 pm Baker Says `Work Sharing' Could Help U.S. Labor Market: AudioSource: Bloomberg - All Podcasts | 21 Dec 2009 | 1:45 pm Further Musings On The Ex-Mrs. SAC StoryTalking Biz News is reporting that Reuters supposedly held the SAC Ex-Wife article by the excellent Matt Goldstein after top Thomson Reuters executives allegedly received pressure from the mothership to kill the story. In related news, there may be another reason why several news outlets, who, we have it on good authority, had the story as well, held it until the suit was officially filed, unrelated to any pressure from the hedge fund.
Source: Dealbreaker | 21 Dec 2009 | 1:40 pm Silverblatt on Dividends; Fitzpatrick, Trennert on Dollar:AudioSource: Bloomberg - All Podcasts | 21 Dec 2009 | 1:21 pm China’s banks aim to boost capitalChinese banks will raise as much as Rmb500bn from capital markets in 2010 to boost their core capital in the wake of this year’s lending boom, according to a senior official at the nation’s banking regulatorSource: Financial Times - US homepage | 21 Dec 2009 | 1:14 pm Hedge fund operator Rajaratnam pleads not guilty (AP)
Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 12:53 pm How Obama can earn peace prizeThe threat of nuclear weapons is a threat to humanity at least equal to climate change, and potentially far more immediate. Obama’s enthusiasm for arms control could be a game-changerSource: Financial Times - US homepage | 21 Dec 2009 | 12:45 pm Danielle Chiesi: Prom Queen Gets A MakeoverBehold: the transformation Chiesi has undergone since being charged with doing bad things with hot tips.
Source: Dealbreaker | 21 Dec 2009 | 12:42 pm Presented By:Source: Dealbreaker | 21 Dec 2009 | 12:42 pm Ready ... set ... convert to a RothYou've probably heard that the restriction barring those earning more than $100,000 from converting a traditional IRA to a Roth will soon be history. This means that as of January, anyone with an IRA can create tax-free income in retirement.Source: Business and financial news - CNNMoney.com | 21 Dec 2009 | 12:42 pm Get ready for a raise next year ... a small oneThe good news is that you're more likely to get a raise next year. But the bad news is that the boost may not be as big as you had hoped.Source: Business and financial news - CNNMoney.com | 21 Dec 2009 | 12:38 pm Stem Cell Stocks Rise, Led By Athersys Inc. (ATHX, NBS, STEM)Stem cell stocks (tracked in Tickerspy’s Stem Cell Stock’s Index (*RXSTM) are up over 7% today, led by Athersys Inc (NASDAQ: ATHX). Athersys Inc. rose as high as 395% this morning following news that the company has entered into a deal with Pfizer (NYSE: PFE) to develop Athersys’s MultiStem, an experimental treatment for inflammatory bowel [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Dec 2009 | 12:33 pm Second Coming, Rajaratnam In Long-Awaited Court Appearance
"My daughter is innocent and that is what you will be printing," accused fraudster Danielle Chiesi's mom said, and we oblige. "God borrowed my body and gave me this girl. She's my angel." Raj's Angel "acted like a movie star," one of the vultures snapping pictures at the courthouse said. The former Miss Binghamton apparently "attracted a swarm of photographers" desperate to see what courtroom chic looks like this holiday season. Answer: dark sunglasses and a long cream-colored coat. Thank you, DealBook.
Source: Dealbreaker | 21 Dec 2009 | 12:32 pm Conrad on Health-Care Bill; U.S. Banks, Copenhagen: VideoSource: Bloomberg - All Podcasts | 21 Dec 2009 | 12:23 pm Rent assistance snag: It's in the mailSection 8, one of the nation's most ambitious public housing programs, helps people pay their rent. However, to get accepted they need a mailing address -- even if they're homeless. Nancy Marshall-Genzer reports.Source: Marketplace | 21 Dec 2009 | 12:20 pm Recession is over? They must be blind.Commentator K.C. Cole says economic "experts" who say the recession is over must be so blinded by rising stock prices and corporate profits that they don't notice the shuttered stores and unemployed workers all around them.Source: Marketplace | 21 Dec 2009 | 12:20 pm Big companies are hoarding cashCash reserves at the biggest companies in the country are at their highest levels in 40 years. They aren't spending because they're still nervous about the economy and they can't find anything to invest in. Jeremy Hobson reports.Source: Marketplace | 21 Dec 2009 | 12:20 pm ESPN sees growth in local sportsESPN has launched its fourth local Web site, this time in Los Angeles. And the sports network says it's just getting started. Host Bob Moon talks with the Sports Business Journal's John Ourand about why ESPN is trying to get bigger by going smaller.Source: Marketplace | 21 Dec 2009 | 12:20 pm 40% of modified mortgages in troubleDespite the Obama administration's push to keep people in their homes through mortgage modifications and lenders cutting payments for millions of borrowers, a government report suggests the effort may be falling short. Amy Scott reports.Source: Marketplace | 21 Dec 2009 | 12:20 pm Britain-France rail link freezes upThousands of travelers going between Britain and France have suffered the third-straight day of chaos and delay as a winter storm shut down the only passenger rail link connecting the two countries. Stephen Beard reports.Source: Marketplace | 21 Dec 2009 | 12:20 pm Big shopping weekend buried by snowThe last weekend before Christmas is traditionally the biggest shopping weekend of the year. But with record snowfall piling up on the East Coast, a lot of stores didn't get the crowds they hoped for -- except those on the Web. Jill Barshay reports.Source: Marketplace | 21 Dec 2009 | 12:20 pm GM taps ex-Microsoft exec as CFOGeneral Motors, the insular automaker with a tradition of appointing only company veterans to most of its top executive ranks, found a new chief financial officer from outside the auto industry altogether.Source: Business and financial news - CNNMoney.com | 21 Dec 2009 | 12:11 pm Subaru's turbocharged sales secretSubaru, the car brand of choice for quirky, all-wheel-drive loving Northeasterners and trendy turbo freaks, is on something of a tear.Source: Business and financial news - CNNMoney.com | 21 Dec 2009 | 12:00 pm Airlines limited to three hours on runway - CNNSource: Business and financial news - CNNMoney.com | 21 Dec 2009 | 11:51 am GM picks Microsoft’s Liddell as finance chiefGeneral Motors named Chris Liddell, Microsoft’s former chief financial officer, as its CFO on Monday in the first significant move by the Detroit carmaker to bring an outsider into its senior management ranksSource: Financial Times - US homepage | 21 Dec 2009 | 11:46 am Unusual Options Trading Alerts (AAPL, GOOG, AMZN, RIMM, GLD, BIIB, MU)We have compiled several options chains we are watching today now that the DEC-2009 PUTS/CALLS have expired on Friday. Much of this likely options roll-outs continuing, but we are seeing some unusual options trading in several key names above and beyond just the most active options contracts on the CBOE. We have more detailed volume [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Dec 2009 | 11:42 am James Gorman's Tips For Maximizing Your WorkoutJames Gorman is taking over Morgan Stanley on January 1 (4th?). Some of you (shareholders, employees) would probably appreciate a little insight from the horse's mouth as to how he's planning on running the place, etc. We're not going to give that to you. What we will share is Jimbo's favorite track to blast while hitting the bag. During the financial crisis, Mr. Gorman...blew off steam by hitting a punching bag in a gym while listening to music. With "Back in Black," by the Australian band AC/DC, playing, Mr. Gorman said, "you'll definitely go faster."
Source: Dealbreaker | 21 Dec 2009 | 11:29 am Bankers fear sovereign risk in 2010There is no immediate sign that any big western government is about to renege on any deals. But the dramas around Greece and Dubai have been a ‘wake-up’ callSource: Financial Times - US homepage | 21 Dec 2009 | 11:21 am FTSE 100 jumps 1.87% (AFP)
Source: Yahoo! News: Stock Markets News | 21 Dec 2009 | 10:21 am For Starters, This One Will Insist On Getting Paid
To begin with, James Gorman is Australian. But he's not like the Australians you've seen on TV: He's deliberate, cautious and doesn't use foul language. In all the ways that count, he's actually less Australian than North Carolina's own John Makhoul. He's not even taking Johnny's bigger office, allowing the dowager empress to keep her throne until he decides to throw her overboard. He's threatened to discipline--after careful consideration--any floor trader that even looks at him, much less offers him a standing ovation. Gorman's thinking on that point is simple: You don't applaud the guy who's cutting your balls off; you thank him quietly, miss, and start trading like the stupid girl that you are. And don't dare call him Jim.
Source: Dealbreaker | 21 Dec 2009 | 9:59 am CDC Chief To PharmaBy Daniel Costello Merck & Co. made the surprise announcement Monday that it has named Julie Gerberding, a former director of the Centers for Disease Control, as president of its vaccines unit. Gerberding served as head of the CDC from 2002 to January 2009. The move of such a high-level public health official to a senior and highly-visible pharmaceutical position is unusual. It also signals the growing importance of vaccines to drug companies struggling to find new products to bring to market. After recent scientific gains, some are saying we are in a second golden age of vaccine discovery not seen since the late 1940s and early 1960s, when scientists such as Jonas Salk discovered inoculations for polio, flu, mumps and measles. Excuse the self reference, but here's a story I wrote on the issue a few years back if the topic interests you. The potential promise of new vaccines -- even a possible malaria inoculation that could revolutionize public health around the world -- is enormous and could dwarf the medical gains from other medical breakthroughs in recent years. The downside: new vaccines are often much more expensive than older ones and out of reach for many of the neediest populations. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 21 Dec 2009 | 9:57 am John Mack's Last Executive Decision?
Source: Dealbreaker | 21 Dec 2009 | 9:47 am Furness on Currencies, Cohen on Retail, Greenhaus on Fed: AudioSource: Bloomberg - All Podcasts | 21 Dec 2009 | 9:43 am Verizon Claims $350 Early Termination Fees Benefit Consumers
Mobile service companies have long argued that early fees subsidize the difference in cost between what the company pays the manufacturer of a phone, and the retail price for the device that it offers consumers. Verizon says that this “cost differential”—”the difference between the amount Verizon Wireless pays manufacturers for the device and the price it charges to customers on term contracts”—is double for “advanced devices” what than what it is for “basic devices.” Verizon also had to hike its advanced device ETFs, the letter claims, because it costs more to advertise and sell them. “It takes more time (and hence increases the cost to Verizon Wireless) for sales and customer care representatives to handle customer inquiries regarding the complex advanced features and functionalities of Advanced Devices,” the company explains. And then there’s Verizon operating expenses and investments in broadband networks: “The $350 ETF does not fully compensate Verizon Wireless for all these costs, particularly for customers who terminate at a relatively early point in the contract term, but it helps the company recover at least a portion of them.” Senator Amy Klobuchar (D-MN) introduced a bill earlier this month that would stop providers from charging fees that exceed the price the provider paid for the phone minus what the consumer paid to buy it, according to the article. Verizon announced that it would double its ETFs from $175 to $350 for smart phone users in November, writes Ars Technica. “Klobuchar sent a letter to Verizon president and CEO Lowell C. McAdam calling the hike ‘anti-consumer and anti-competitive,’ and asked the FCC to probe the telco about the move.” Verizon’s current strategy is to offer (subpar) smartphones cheaper than its competitors, using its high-quality network to lure in customers. It’s fair enough that they subsidize the cost of the handset–everyone does that–but I’d like to see some numbers to verify that “advanced phones” actually cost double, and that early termination revenues are needed specifically for advertising and servicing them. It sounds like a guise to stop users from defecting to better smart phones offered by other companies. For transparency’s sake, the Senate bill makes sense.
Source: Business Pundit | 21 Dec 2009 | 9:38 am Twitter In The Black?
Blissfully overloaded. (MichPeru/Flickr) By Caitlin Kenney Questions about the profitability of Twitter have been swirling for nearly a year now. The social networking site's popularity has soared, while the company chiefs repeatedly insisted that they were focused on the product and not the bottom line. Now Bloomberg reports that the site may finally be headed into the black: Twitter Inc. will make about $25 million from Internet-search deals with Google Inc. and Microsoft Corp. announced in October, enough to push the site into profitability, people familiar with the matter said. An agreement that made Twitter's messages searchable on Google's site will generate about $15 million, said the people, who asked to remain anonymous because the terms aren't public. A similar deal with Microsoft's Bing search engine will earn Twitter about $10 million. The multiyear agreements will allow Twitter to make a small profit in 2009, said the people, who estimate that its operating costs are about $20 million to $25 million a year. The San Francisco-based company, which started in 2006, has about 105 employees, according to its Web site. According to research firm, ComScore Inc., Twitter has more than 58 million global monthly users, including Planet Money. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 21 Dec 2009 | 9:32 am Citadel Broadcasting Files Chapter 11 Bankruptcy
Las Vegas-based Citadel Broadcasting Corp., which owns 223 AM/FM stations around the country, has filed for bankruptcy protection. Bloomberg has more: The company, which syndicates Don Imus’s morning talk show through its U.S. radio network, listed assets of $1.4 billion and debt of $2.5 billion in its Chapter 11 filing yesterday in U.S. Bankruptcy Court. Forstmann Little & Co., a New York-based private-equity firm that bought Citadel in 2001 for $2 billion, owns 29 percent of its common stock, according to court papers. The filing covers about 50 units of the Las Vegas-based company. Citadel sought bankruptcy to implement a pre-negotiated plan under which it has the support of 60 percent of its secured lenders, the company said in statement. The plan will convert a $2.1 billion loan into a new $762.5 million term loan, giving senior lenders a pro rata stake, and 90 percent of the shares in the reorganized company. “The ongoing weakness in the economy and advertising spending, compounded by rising debt and leverage” have left Citadel with an “unsustainable capital structure,” Neil Begley, an analyst at Moody’s Investors Service, said Dec. 11 in a report. BloggingStocks analyzes the problem with radio in general: The problem facing terrestrial radio (as many call it) is dwindling advertising as a result of the weakened economy. But this trend really started long before the economic slowdown and will probably continue after the economy is back to hitting on all cylinders. With satellite radio and the advent of online radio stations (like Pandora), as well as the ever increasing popularity of portable music devices, watch for the pain to continue in the radio world.
Source: Business Pundit | 21 Dec 2009 | 9:13 am Was Microsoft’s Liddell Promised GM CEO Job?Microsoft’s (NASDAQ:MSFT) departing CFO Chris Liddell will join GM as Vice Chairman and CFO, according to several media reports. GM is so badly damaged that the move could not even be viewed as an improvement compared to his current job at the world’s largest software company. Liddell was well-regarded by Wall St. The reason Liddell is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Dec 2009 | 9:08 am E*TRADE New CEO… Chances of Buyout Changing? (ETFC, C, AMTD, SCHW, GS, MS)E*TRADE Financial Corporation (NASDAQ: ETFC) has some good news this morning, although this could actually be bad news for those hoping for an immediate takeover. The company has been without an heir apparent in the CEO role until this morning. The online brokerage firm has named board member Robert Druskin as Chairman and as Interim [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 21 Dec 2009 | 8:37 am Sanofi-Aventis Buys Chattem, Countering Patent Cliff Losses
Sanofi-Aventis (SAN.FR), one of the world’s largest prescription drug companies by sales, bought Tenn.-based Chattem (CHTT), which makes products like Gold Bond, Selsun Blue and Icy Hot, for about $1.9 billion in cash (this is $93.50/share). The Wall Street Journal has more: The Chattanooga, TENN.-based company…posted revenues of $454.9 million in 2008. Sanofi said the deal will propel it to become the world’s fifth-biggest over-the-counter drugs company, from number six. It estimates the world market to be worth about $20 billion a year and excutives said they expect the company to outpace the market’s expected annual 3% growth rate. The French company said most of the benefits from the deal would come from expanding Chattem’s products outside the U.S. Sanofi will also hand its Allegra antihistamine prescription drug to Chattem to be converted into an over-the-counter product.
Source: Business Pundit | 21 Dec 2009 | 7:50 am Morning Report: Employers Adding Temp Workers; Online Sales BoomBy Daniel Costello In a sign the labor market may be ready to expand, businesses added 52,000 temporary workers last month, more than the number of new workers in any other category. If employers remain confident that the recent economic upturn can be sustained, they are likely to add permanent employees soon. The pattern is different than in past recessions. In the early 1990s and in 2001, employers added temps for only three months before stepping up the hiring of permanent workers. Temp hiring has risen for four months already even though the economy is growing. Dubai World, the troubled state-owned conglomerate set to ask creditors for a standstill on restructuring some $22 billion in debt, may still repay lenders in full, a local newspaper reports. The National daily says two top Dubai officials, on a confidence-building mission to Britain and the United States in recent days, told financial leaders in London that repaying all bank loans in full "was discussed as a medium-term possibility." The move would help restore at least some sense of credibility to the Middle East financial center, and could help ensure the region's financial troubles don't spill over to other weak markets around the world. The surge held put holiday online sales up 4 percent to almost $24.8 million through the week ending December 18. E-commerce will almost certainly have an outstanding year, which was not expected several weeks ago. Sales in nearly every category have risen online, and this week's major snowstorm on the East Coast over the last holiday shopping weekend is likely to boost online sales more. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 21 Dec 2009 | 7:27 am Don’t Let Your Holiday Travel Be Like This
Source: Business Pundit | 21 Dec 2009 | 4:10 am
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