|
|
|
|
Bernard Madoff is moved to jail's medical wingBernard Madoff, the $65 billion swindler, has been moved to a low-security medical centre at the North Carolina prison where he is jailed.$ Source: Latest Business News from Times Online | 24 Dec 2009 | 12:13 pm Japan lender gets loan extensionJapanese finance firm Aiful avoids bankruptcy after receiving approval from its creditors to delay debt repayments.Source: BBC News | Business | World Edition | 24 Dec 2009 | 3:37 am Bargains 'less likely this year'Shoppers searching for bargains in the seasonal sales may find they are a year too late for the best deals, according to experts.Source: BBC News | Business | World Edition | 24 Dec 2009 | 3:34 am Chavez May Push Car Companies Out Of VenezuelaHugo Chavez, Venezuela’s president-for-life, has pushed major oil companies that would not pay tariffs to his government and give up some of their assets out of the South American nation. He recently began to close banks that he believed did not favor government policies. Chavez now wants foreign car companies to share their technology with local [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 3:30 am Europe Markets: Miners lift Europe shares ahead of holidayEuropean shares tentatively gain on Thursday, up for the fourth straight day, with miners getting a lift from an uptick in commodity prices in an abbreviated session ahead of the Christmas break.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 3:27 am More ITV directors depart as clearout continuesThe boardroom clear-out at ITV continued today with the exit of two non-executive directors before Archie Norman takes the helm as chairman next month. Source: Latest Business News from Times Online | 24 Dec 2009 | 3:16 am Investors Ignore Securities AnalystsWall St. firms have cut the number of securities analysts they employ since the scandal of 2000 when some professional stock pickers aligned themselves too closely with the M&A bankers who they worked with. Research was tainted by banking fee income. The period when a top analyst could make millions of dollars a year largely came to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 3:14 am The Car Industry Dodges The Pay CzarPay czar, Kenneth Feinberg, has been fairly consistent in giving only bare-bones compensation to management at firms that have taken TARP funds. Most executives are making less than $500,000 in base salary. Bonuses are limited, except in the case of some AIG (NYSE:AIG) managers who threatened to leave the insurance company. GM’s new CFO was able [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 3:00 am Bleak futureRemote Indian village feels knock-on from Dubai crisisSource: BBC News | Business | World Edition | 24 Dec 2009 | 2:59 am The Whole World Moves To TexasThe Brookings Institute, The New York Times, and Bloomberg all covered the news that Texas added more people than any other state between July of 2008 and this past July, 479,000 according to the Census Bureau. The Brookings think tank analysts suggested that a shift of population migration to places like California and Florida has [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 2:51 am Twitter deal will add location services to TweetsTwitter is buying a startup called Mixer Labs in an effort to pinpoint the locations of people posting short messages on its service. Source: Latest Business News from Times Online | 24 Dec 2009 | 2:50 am Asia higher as techs, exporters, advanceAsian markets end mostly higher Thursday, with Japan’s Nikkei closing at a fresh three-month high, lifted by gains in techs and export-related shares as the yen remained relatively weak against leading currencies.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 2:46 am Banks and miners help London stocks edge higherLondon's benchmark stock index opened slightly higher on Thursday, having reached its highest closing level in more than five weeks during the previous session. The FTSE 100 opened 0.2 per cent higher...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 2:43 am Language lessonsWhy Bolivians are brushing up on their ChineseSource: BBC News | Business | World Edition | 24 Dec 2009 | 2:38 am UPDATE 1-Two more directors step down from ITV boardLONDON, Dec 24 (Reuters) - Two more non-executive directors announced their intention to step down from the board of British broadcaster ITV , following the appointment of new Chairman Archie Norman at...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 2:31 am Google's Admob plans scrutinisedGoogle's plans to buy mobile phone marketing company Admob are looked at by the Federal Trade Commission.Source: BBC News | Business | World Edition | 24 Dec 2009 | 2:30 am RPT-UPDATE 1-AstraZeneca replies to US regulator on motavizumabLONDON, Dec 24 (Reuters) - AstraZeneca said it had replied to questions from U.S. regulators about its new infant lung drug motavizumab, as it aims to get approval for the medicine in the United States...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 2:30 am London Markets: British stocks gain for fourth straight sessionBritish stocks tentatively build on recent gains in a holiday-shortened trading session on Thursday, with miners advancing amid higher commodity prices
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 2:28 am Disney chief's pay slips to $29mThe pay of Disney's chief executive Robert Iger decreased by 28% to $29m in 2009 as the firm's profit declines.Source: BBC News | Business | World Edition | 24 Dec 2009 | 2:23 am UPDATE 2-Carlyle says mulling bid for ShanksLONDON, Dec 24 (Reuters) - U.S. private equity firm Carlyle Group [CYL.UL] said it has talked to British waste management company Shanks Group about a possible takeover offer.Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 2:20 am FTSE 100 flirts with year highBritain's FTSE 100 flirted with its year high in thin early trading on Christmas Eve.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 2:14 am Russia LUKOIL sees 2009 income falling 34-45 pctMOSCOW, Dec 24 (Reuters) - LUKOIL , Russia's No.2 oil producer, expects net profit to fall this year by 34-45 percent because of weaker oil prices, the company's chief executive told state television channel...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 2:14 am Stock futures signal gains ahead of Xmas break(Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.22 percent, Dow Jones futures up 0.15 percent and Nasdaq 100...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 1:59 am Stock futures signal gains ahead of Xmas break (Reuters)
Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 1:59 am Stock futures signal gains ahead of Xmas break(Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.22 percent, Dow Jones futures up 0.15 percent and Nasdaq 100 futures up 0.23 percent at 3:33 a.m.Source: Reuters: Business News | 24 Dec 2009 | 1:59 am Stock futures signal gains ahead of Xmas break (Reuters)
Source: Yahoo! News: Business | 24 Dec 2009 | 1:59 am Media Digest 12/24/2009 Reuters, WSJ, NYTimes, FT, BloombergReuters: Pay czar Feinberg approved compensation at several bailed out firms. Reuters: Oil moved above $77 as US crude stocks dropped. Reuters: The US is probing some banks about their sale of risky securities. Reuters: The Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) CEOs got their pay packages approved. Reuters: US consumer spending rose by new home sales dropped. Reuters: Apple [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 1:57 am Greece to slash spending with austerity budgetThe Socialist majority in the Greek parliament early today approved the country’s 2010 Budget, which aims to cut the country’s huge deficit by slashing spending and boosting tax revenues. Source: Latest Business News from Times Online | 24 Dec 2009 | 1:57 am Glencore takes step closer to flotationThe world’s largest commodity trader has taken the first step towards becoming a public company by selling $2.2bn in convertible bonds, a move that values the Switzerland-based company at $35bnSource: Financial Times - US homepage | 24 Dec 2009 | 1:52 am NH, Maine test transparency with health cost toolsThe health care reform bill before the U.S. Senate would require hospitals to publicize their standard charges for services, but New Hampshire and Maine have gone much further in trying to...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 1:51 am Twitter buys Mixer Labs to map tweet locationsTwitter is buying a startup called Mixer Labs which will enable it to pinpoint the locations of tweets.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 1:44 am Carlyle confirms interest in ShanksCarlyle, the US private equity group, said this morning that it is mulling a takeover bid for Shanks, the waste management company. Source: Latest Business News from Times Online | 24 Dec 2009 | 1:42 am Asia Markets And Europe Open (12/24/2009)Markets in Asia were mostly higher with Hong Kong closed. The Nikkei rose 1.5% to 10,537. The Shanghai Composite was up 2.6% to 3,153. At the open in Europe, the FTSE was flat at 5,373. HSBC (NYSE:HBC) rose. The Dax was closed. The CAC 40 rose .2% to 3,916. Data from Reuters and MarketWatch. Douglas A. McIntyre Posted in International Markets Tagged: HBC [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Dec 2009 | 1:28 am Private equity firm in Shanks bidThe US private equity firm Carlyle Group is considering a takeover bid for the British waste management firm Shanks.Source: BBC News | Business | World Edition | 24 Dec 2009 | 1:22 am China to impose tariffs on chemical imports: govtChina said Thursday it would slap anti-dumping penalties on a chemical imported from Saudi Arabia and Taiwan after an investigation found the product had been priced too low. The...Source: RSS feed - channel BNewsBusiness | 24 Dec 2009 | 1:19 am Bernard Madoff moved to prison hospitalBernard Madoff, the fraudster serving as 150-year jail sentence for running a $65bn Ponzi scheme, has been moved to a prison hospital.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 1:02 am Ford near deal to sell Volvo to Chinese firmFord says that it has worked out 'all substantive commercial terms' with Zhejiang Geely Holding Group and that the sale could be finalized by the end of the second quarter.Ford Motor Co. may pull off a feat its crosstown rival hasn't been able to manage: the successful sale of a Swedish car company.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Lawsuit against Toyota droppedA lawyer who sought to reopen 17 rollover claims says he cannot prove his case after reviewing documents allegedly showing that Toyota had hidden key evidence.In a victory for Toyota Motor Corp., an attorney has dropped a lawsuit seeking to reopen 17 rollover cases against the automaker based on claims by a former Toyota attorney that the company had hidden key evidence.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Classic Indian Chief motorcycle ready to rollThe revived brand, already for sale in 16 other states, clears California's tough emissions standards. But it arrives during the worst motorcycle market in decades. ...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Personal income rises again, but spending is restrainedPaychecks keep growing but more goes into savings, a trend that may keep the economy sputtering.Providing more evidence that the U.S. economy has turned a corner, personal income grew in November at the fastest rate in six months and is poised to accelerate in 2010, according to new government and private reports.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Young women targeted for 'Lovely Bones' marketing pushThe Peter Jackson chiller, now showing in three theaters, won't be released widely until next month. With critics...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Second BlackBerry e-mail outage in a week rankles usersComplaints about Tuesday's nine-hour disruption probably won't result in mass defections but customers don't forget, one analyst cautions. ...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Consumer pessimism ebbs as prices dropAn index from Thomson Reuters and the University of Michigan is 21% higher than it was in December 2008. People cite widespread holiday sales and a better jobs outlook for their improved optimism. ...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Tech shares big front-runners in S & P 500 indexStocks such as Google, IBM and Microsoft are helping the sector rally 59% on average in 2009.In Wall Street's horse race among stock sectors this year it won't be a photo finish: Big-name technology shares are way out front and still pulling away from the field.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Young women targeted for 'Lovely Bones' marketing pushThe Peter Jackson chiller, now showing in three theaters, won't be released widely until next month.With critics and audiences agreeing that Peter Jackson's chilling drama "The Lovely Bones" is anything but lovely, Paramount Pictures has decided to focus all its energies on a Jan. 15 nationwide release aimed at young women.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Internet sales tax scofflaws cheat stateOfficials calculate that online shoppers who have failed to pay California's (100% legal) user tax owe the state more than $1 billion.On this glorious day before Christmas, I have a message for all you sales tax scofflaws out there:
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Classic Indian Chief motorcycle ready to rollThe revived brand, already for sale in 16 other states, clears California's tough emissions standards. But it arrives during the worst motorcycle market in decades.The classic Indian Chief motorcycle, prized for its fanciful fenders and an American heritage different from its much bigger rival, Harley-Davidson, is back and finally ready to roll in California.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Consumer pessimism ebbs as prices dropAn index from Thomson Reuters and the University of Michigan is 21% higher than it was in December 2008. People cite widespread holiday sales and a better jobs outlook for their improved optimism.Consumers say they are feeling much less pessimistic in December than they were in November, thanks to widespread holiday sales and a more hopeful outlook on jobs and the economy, according to a study released Wednesday.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Ford near deal to sell Volvo to Chinese firmFord says that it has worked out 'all substantive commercial terms' with Zhejiang Geely Holding Group and that the sale could be finalized by the end of the second quarter. ...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Uninsured family has a lot at stake in the healthcare debateA son's medical crisis is enough to destroy their financial security.When friends find out that Alice Manning and her children don't have health insurance, they are surprised.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Disney CEO's pay drops slightlyBob Iger's received total compensation worth $29 million this year, a decrease from $30.6 million in 2008. Walt...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am New home sales fall 11.3% in NovemberBuyers' uncertainty about the future of a juicy tax credit contributed to the drop from October, experts say.Sales of new homes in November took an 11.3% plunge, a sign of just how dependent the fragile housing recovery has become on government subsidies.
Source: L.A. Times - Business | 24 Dec 2009 | 1:00 am Personal income rises again, but spending is restrainedPaychecks keep growing but more goes into savings, a trend that may keep the economy sputtering. Providing more...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Tech shares big front-runners in S & P 500 indexStocks such as Google, IBM and Microsoft are helping the sector rally 59% on average in 2009. In Wall Street's...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Lawsuit against Toyota droppedA lawyer who sought to reopen 17 rollover claims says he cannot prove his case after reviewing documents allegedly showing that Toyota had hidden key evidence. ...Source: RSS feed - channel BNPaperBusiness | 24 Dec 2009 | 1:00 am Venezuela in threat to carmakersVenezuela's President Hugo Chavez tells car companies they must share their technological skills or leave the country.Source: BBC News | Business | World Edition | 24 Dec 2009 | 12:59 am China leads Asian shares up, dollar rally stalled (Reuters)
Source: Yahoo! News: Stock Markets News | 24 Dec 2009 | 12:54 am Europe Markets: European shares set 14-month highsBanks and miners, which are responsible for much of the gains this year, gain again.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 12:42 am Corrections: European shares set 14-month highsA MarketWatch article published Dec. 23 gave an incorrect end-of-day percentage move for shares of Allied Irish Banks . See corrected story.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 12:39 am Little improvement seen in job market in 2010While the economy is likely to grow at a steady but unspectacular 3% pace in 2010, the prospects for significant job growth are dim and the unemployment rate could still be in the 10% neighborhood at this time next year, economists say.
Source: MarketWatch.com - Top Stories | 24 Dec 2009 | 12:31 am Twitter buys start-up Mixer LabsThe micro-blogging website Twitter says it is buying location tracking start-up Mixer Labs for an undisclosed sum.Source: BBC News | Business | World Edition | 24 Dec 2009 | 12:18 am Asian shares lifted by Chinese hints at more stimulusAsian markets shrugged off a lacklustre performance on Wall Street to move higher on Thursday amid expectations China will maintain loose monetary policy.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Dec 2009 | 12:15 am Electrolux, Ripplewood in race for Daewoo Elec-reportSEOUL, Dec 24 (Reuters) - Creditors of South Korea's Daewoo Electronics have chosen five candidates including Electrolux and Ripplewood to buy the appliance maker in a preliminary bidding, a local media...Source: RSS feed - channel BNewsBusiness | 23 Dec 2009 | 11:57 pm Electrolux, Ripplewood in race for Daewoo Elec-reportSEOUL, Dec 24 (Reuters) - Creditors of South Korea's Daewoo Electronics have chosen five candidates including Electrolux and Ripplewood to buy the appliance maker in a preliminary bidding, a local media...Source: RSS feed - channel BNewsBusiness | 23 Dec 2009 | 11:57 pm Peter Brimelow: Bottom 10 (OK, 11) letters of 2009How are the mighty fallen, or at least bouncing. As usual, this year's bottom 10 performing investment letters include names from last year’s winners. Maybe there’s a reason.
Source: MarketWatch.com - Top Stories | 23 Dec 2009 | 11:31 pm Sandwich shop opens at tower rising at ground zeroFresh bread will soon be baking high above ground zero. The new World Trade Center got its first restaurant Wednesday _ a sandwich shop at the top of the Freedom Tower under...Source: RSS feed - channel BNewsBusiness | 23 Dec 2009 | 11:30 pm China plans $86 billion in 2010 stimulus: reportChina plans to spend $86.2 billion next year on stimulus projects as part of its ongoing efforts to buttress the economy, according to reported comments by Vice Finance Minister Zhang Shaochun.
Source: MarketWatch.com - Top Stories | 23 Dec 2009 | 11:02 pm Zijin Mining sees Glencore bonds as 'opportunity'Chinese gold producer Zijin will buy $200 million of convertible bonds issued by Swiss commodity-trading firm Glencore as part of efforts to build exposure to overseas mineral assets.
Source: MarketWatch.com - Top Stories | 23 Dec 2009 | 10:29 pm Therese Poletti's Tech Tales: Zynga grows like healthy FarmVille cropsIf you are ever on Facebook it’s hard to miss the phenomenon that’s swept the site over the last year. Welcome to FarmVille.
Source: MarketWatch.com - Top Stories | 23 Dec 2009 | 10:20 pm US set for Senate healthcare voteBarack Obama's contentious healthcare plans reach a key stage, with the Senate set to vote on its version of the bill.Source: BBC News | Business | World Edition | 23 Dec 2009 | 10:10 pm U.S. probes banks on sale of risky securities: report (Reuters)Reuters - U.S. regulators and legislators are investigating whether Wall Street investment banks deliberately sold risky structured securities to clients, and then bet on the securities failing, the New York Times reported on Wednesday.Source: Yahoo! News: Business | 23 Dec 2009 | 10:07 pm U.S. probes banks on sale of risky securities: report(Reuters) - U.S. regulators and legislators are investigating whether Wall Street investment banks deliberately sold risky structured securities to clients, and then bet on the securities failing, the New York Times reported on Wednesday.Source: Reuters: Business News | 23 Dec 2009 | 10:07 pm Invest in Your Asset ManagerThe stocks of firms that handle your money are soaring.
Source: SmartMoney.com | 23 Dec 2009 | 10:00 pm 10 Best Financial Books of the Year (Consumer Action)Greed, delusion and the meltdown: 2009's most compelling business reads.
Source: SmartMoney.com | 23 Dec 2009 | 10:00 pm 3 Stocks That Stunk in 2009 (Screens)These companies disappointed, but some analysts think they're now attractively priced.
Source: SmartMoney.com | 23 Dec 2009 | 10:00 pm The Market Speaks: Change Isn't Good (Ahead of the Curve)Luskin: Here's to the Obama plans that went nowhere.
Source: SmartMoney.com | 23 Dec 2009 | 10:00 pm Putting the Pieces Back in Place at MosaicMosaic's profits -- and stock price -- are set to bloom again as demand for its fertilizer grows.
Source: SmartMoney.com | 23 Dec 2009 | 10:00 pm Fannie, Freddie CEO pay gets regulator nod: report (Reuters)Reuters - The U.S. housing regulator has approved pay packages for the chief executives of mortgage finance companies Fannie Mae and Freddie Mac in the range of $4 million to $6 million, the Wall Street Journal said, citing people familiar with the matter.Source: Yahoo! News: Business | 23 Dec 2009 | 9:50 pm Fannie, Freddie CEO pay gets regulator nod: report(Reuters) - The U.S. housing regulator has approved pay packages for the chief executives of mortgage finance companies Fannie Mae and Freddie Mac in the range of $4 million to $6 million, the Wall Street Journal said, citing people familiar with the matter.Source: Reuters: Business News | 23 Dec 2009 | 9:50 pm Against the Odds: Examining the Lottery IndustryThe lottery is the oldest and one of the most mainstream forms of legalized gambling today. Powerball lottery tickets are now sold in 31 states and 12 states participate in MegaMillions. So, what are your chances of winning big in the lottery? It turns out, not as slim as you may have thought.
Source: Business Pundit | 23 Dec 2009 | 9:20 pm Mortgage execs' hefty salaries to be disclosed (AP)
Source: Yahoo! News: Business | 23 Dec 2009 | 8:19 pm U.S. consumer spending rises, new home sales slumpWASHINGTON (Reuters) - U.S. consumer spending rose in November as incomes recorded their biggest gain in six months, but a surprise drop in new home sales to a seven-month low was a reminder that the economic recovery would be bumpy.Source: Reuters: Business News | 23 Dec 2009 | 5:50 pm Geely nears Volvo buy, as China ascends in autosBEIJING/DETROIT (Reuters) - Ford Motor Co said on Wednesday it is nearing an agreement to sell its Volvo Swedish cars unit to China's Geely in a deal that underscores China's arrival as a major force in the global auto industry.Source: Reuters: Business News | 23 Dec 2009 | 5:50 pm US banks repay bailout loansNEW YORK - Citigroup said today it has repaid the US$20 billion in bailout money it received from the US government.Citi said it funded the previously announced repayment with a recent stock offering that raised US$20.5 billion....Source: nzherald.co.nz - Business | 23 Dec 2009 | 5:30 pm Pound wallows in doldrums as Bank leaves door ajar for more new moneySterling remained mired at two-month lows yesterday as Bank of England rate-setters refused to close the door on more quantitative easing. Source: Latest Business News from Times Online | 23 Dec 2009 | 5:01 pm Changes for HMV mean taking the stage to escape the strain of simply selling CDsHMV has taken its biggest step yet towards a life beyond books and CDs, making a £46 million offer for a live music venue owner. Source: Latest Business News from Times Online | 23 Dec 2009 | 5:01 pm New life for Volvo as Ford accepts $2bn from Chinese$The future of Volvo, the lossmaking Swedish carmaker famed for its sturdy, ultra-safe designs, appeared to have been secured yesterday after Ford, its American parent, confirmed that it was selling the company to Geely, of China. Source: Latest Business News from Times Online | 23 Dec 2009 | 5:01 pm Glencore’s top staff could net $250m each after hint of IPO$The most senior employees at Glencore could reap nearly $250 million ($£157 million) each if the secretive Swiss metals trading company goes ahead with an initial public offering (IPO). Source: Latest Business News from Times Online | 23 Dec 2009 | 5:01 pm Banks’ victory in Supreme Court spurs Foxtons to fight fees rulingFoxtons is to appeal against a High Court ruling that millions of pounds of fees it has charged landlords are unfair, after the banks’ overdraft charges victory gave the estate agent hope that it could win a renewed legal battle against the Office of Fair Trading. Source: Latest Business News from Times Online | 23 Dec 2009 | 5:01 pm Banks to pay taxman billionsFour big banks have admitted defeat in a long-running battle with the tax department and admitted liability for more than $2.2 billion in unpaid tax.Westpac, the ASB Bank, BNZ and ANZ-National last night agreed to settle cases...Source: nzherald.co.nz - Business | 23 Dec 2009 | 5:00 pm Securities Commission raises concern over NZX dual rolesPotential conflict of interest between NZX's regulatory and commercial functions is highlighted in the annual review of share market operator NZX by the Securities Commission.NZX gets a good report and the commission notes action...Source: nzherald.co.nz - Business | 23 Dec 2009 | 4:30 pm Apple’s (AAPL) Jobs Worked For $1, But Owns 5.5 Million SharesSteve Jobs, the CEO of Apple (NASDAQ:AAPL), is doing fine, financially. He took a salary of just $1 last year but owns 5.546 million Apple shares. The stock trades above $200, so Jobs has over $1 billion invested in the company. The Apple proxy also reports that most of the firm’s top people have to rely [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Dec 2009 | 4:18 pm Greece seeks to reassure marketsGreece has passed a deficit-cutting budget as the government seeks to reassure the markets of its commitment to fiscal consolidationSource: Financial Times - US homepage | 23 Dec 2009 | 4:16 pm Contact power station out of action for two monthsContact Energy hopes to have its Otahuhu gas-fired power station back in service in two months after cracks were found in a generator.The shutdown of the 10-year-old plant marks the end of a rough year for New Zealand's biggest...Source: nzherald.co.nz - Business | 23 Dec 2009 | 4:15 pm U.S. pay czar Feinberg OKs compensation at some bailout firms (Reuters)Reuters - U.S. pay czar Kenneth Feinberg on Wednesday approved compensation plans for several executives and top-paid employees at three firms that have received taxpayer aid.Source: Yahoo! News: Business | 23 Dec 2009 | 4:05 pm U.S. pay czar Feinberg OKs compensation at some bailout firmsWASHINGTON (Reuters) - U.S. pay czar Kenneth Feinberg on Wednesday approved compensation plans for several executives and top-paid employees at three firms that have received taxpayer aid.Source: Reuters: Business News | 23 Dec 2009 | 4:05 pm Hacker Breaks Kindle's Proprietary E-Book Protection (NewsFactor)NewsFactor - Internet retailer Amazon.com had all the luck in getting its family of proprietary Kindle e-book readers into the hands of consumers while its rivals were faced with delays, but its luck may have turned. The Kindle's copyright protection has been hacked.Source: Yahoo! News: Business | 23 Dec 2009 | 4:04 pm Receivers called to Botry-ZenBotry-Zen Ltd has asked its banker, Bank of New Zealand, to appoint receivers.The company held a board meeting this afternoon after failing to raise a minimum $1.5 million in a share purchase plan.The Dunedin-based company...Source: nzherald.co.nz - Business | 23 Dec 2009 | 4:00 pm Fraudster Madoff 'unwell'Notorious US Ponzi schemer Bernard Madoff has been transferred to a medical facility at his North Carolina prison, according to media reports.Prison officials would not provide any details about Madoff's medical condition, citing...Source: nzherald.co.nz - Business | 23 Dec 2009 | 4:00 pm Stocks finish slightly higher despite housing data (AP)
Source: Yahoo! News: Stock Markets News | 23 Dec 2009 | 3:59 pm Bipartisan talks raise regulation deal hopesThe top Democrat and Republican on the Senate banking committee said they would iron out their differences on a financial regulation bill before the upper chamber resumed work next monthSource: Financial Times - US homepage | 23 Dec 2009 | 3:59 pm Where Americans are moving: TexasAmericans, it seems, still have a love affair with the West. Texas and Wyoming were the big winners in the Census Bureau's annual population estimates, which were released on Wednesday.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 3:58 pm How the major stock indexes fared on Wednesday (AP)AP - Stocks ended an erratic session with a slender gain Wednesday as rising commodities prices offset disappointment over an unexpected drop in home sales. Gains in commodities drove the shares of energy and materials-producing companies higher, lending support to the overall stock market.Source: Yahoo! News: Stock Markets News | 23 Dec 2009 | 3:57 pm Sharemarket starts up slightlyThe New Zealand sharemarket started its pre-holiday trading session in mildly positive territory and little change among the leading stocks.After a strong gain yesterday, the benchmark NZX-50 index was up just 1.03 points to 3210.59...Source: nzherald.co.nz - Business | 23 Dec 2009 | 3:53 pm AIG investigated executives regarding pay moves: reportNEW YORK (Reuters) - American International Group Inc investigated five executives who threatened to resign over federal pay limits, the Wall Street Journal reported on Wednesday.Source: Reuters: Business News | 23 Dec 2009 | 3:24 pm Madoff transferred to prison medical facilityPonzi scammer Bernard Madoff has been transferred to a medical facility at the prison where he's incarcerated in North Carolina, according to the Federal Bureau of Prisons.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 3:20 pm Emerging Markets, Railroads, Trucking: Taking Stock PodcastSource: Bloomberg - All Podcasts | 23 Dec 2009 | 3:16 pm Investors ignore analyst forecasts, study findsAnalysts’ earnings forecasts have a negligible effect on a company’s share price, according to new research that will raise further doubts over stock-pickers’ ability to move marketsSource: Financial Times - US homepage | 23 Dec 2009 | 3:01 pm City Council plans public offerThe Auckland City Council is considering making an offer to the public of senior secured bonds.The bonds will be secured by a charge over rates revenue.The offer is expected to open in February or March next year. The...Source: nzherald.co.nz - Business | 23 Dec 2009 | 3:00 pm Stocks end higher for 4th dayStocks held on to modest gains Wednesday, closing higher for a fourth day, as strength in technology shares and commodities offset concerns about the housing market.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 2:59 pm New securitization landscape seen for ABSNEW YORK (Reuters) - As the recovering U.S. asset-backed market heads toward the new year, concerns remain that overregulation may deliver a setback to a full recovery.Source: Reuters: Business News | 23 Dec 2009 | 2:55 pm U.S. consumer spending rises, new home sales slump (Reuters)
Source: Yahoo! News: Business | 23 Dec 2009 | 2:50 pm More doctors working behind barsMore doctors are dropping their private practices, choosing to go to work behind bars treating murderers, rapists and other hardened criminals.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 2:45 pm Debt limit: What's the big fuss?The Senate will act to raise the country's debt limit on Thursday before closing shop for the year. That's the plan anyway.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 2:44 pm Citi, Wells Fargo repay TARP moneyNEW YORK (Reuters) - Wells Fargo & Co and Citigroup Inc repaid a total of $45 billion to the United States on Wednesday, as major banks look to reduce government influence over their affairs.Source: Reuters: Business News | 23 Dec 2009 | 2:38 pm Write-Offs: 12.23.09$$$ Dimon, Blankfein, Mack to Testify to Crisis Panel [Bloomberg] $$$ Alexis Glick Leaving Fox Business [BI] $$$ For America's Santas, It's Hard to Be Jolly [WSJ] $$$ Beck, Burly, Silver & Gold [HedgeWorld] $$$ Clarium Exec Goes to Hollywood [FINalternatives] $$$ Insurgents 2010: Federal Reserve Board of Governors member, Icahn Enterprises Vice-Chairman, Blackstone senior MD [New York Observer] 
 Source: Dealbreaker | 23 Dec 2009 | 2:37 pm Journalists Write-Up Apple (AAPL) Rumors, With Nothing To Do As Financial News FadesThe legitimate press is hardly legitimate any more. The number of rumors about Apple (NASDAQ:AAPL) each week can reach a dozen. Most of them turn out to be false. Apple has been in the process of introducing a tablet PC for months. No one has seen one in the meantime. The financial press does not have [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Dec 2009 | 2:28 pm Record fees for debt issues offset dipThe jump in debt and equity issuance compensates for the decline in income from dealmaking, which sank to its lowest level since 2003Source: Financial Times - US homepage | 23 Dec 2009 | 2:15 pm How to sue Microsoft - and winFor a tiny Toronto software manufacturer nestled in the city's grimy garment district, winning a $290 million court judgment against Microsoft is more than simply a long-awaited victory.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 2:15 pm Winterize Your Home for Round 2 (The Motley Fool)The Motley Fool - Did the early arrival of winter catch you off guard? Even if you're still digging your way out of your home, there are a bunch of money- and life-saving things you can do around your home before the next big storm passes through.Source: Yahoo! News: Business | 23 Dec 2009 | 2:12 pm Bob Diamond sells £5m of Barclays sharesBob Diamond, Barclays president, has for the first time reduced his I hope you're listening, Stephen Schwarzman."Re: crap coffee, I can confirm, unequivocally, that the same holds true at Blackstone. What we're provided in the kitchen is utterly and completely foul. It can only be described as swill."
Source: Dealbreaker | 23 Dec 2009 | 1:59 pm SEC sues former head of western Pa. health firm (AP)AP - The Securities and Exchange Commission on Wednesday sued the former head of a defunct Pittsburgh-area medical staffing company, claiming he led a stock fraud and misappropriated $6.4 million by lying about the company's finances.Source: Yahoo! News: Stock Markets News | 23 Dec 2009 | 1:56 pm Glencore IPO closer after £2bn fund-raisingResources group must float or merge with another company by 2013 to avoid $500m in punitive charges.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Dec 2009 | 1:48 pm Exxon's unwanted drama over drillingExxon Mobil may be getting more than it bargained for with its recent plan to purchase natural gas giant XTO Energy.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 1:43 pm Lord Adonis under scrutiny over 'misleading' Parliament on National ExpressTransport Secretary Lord Adonis has come under scrutiny after official documents appeared to undermine his contention that the Government never renegotiates rail franchises.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Dec 2009 | 1:40 pm RBS's O'Donnell Discusses Treasuries, Yield Curve, Banks: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 1:39 pm Podcast: The Language Of Economists
On today's Planet Money: We announce the winner of our economic abstract translation contest and find out what the paper's author really meant by "hybrid translog cost functions." Plus, we reach out to Aaron Edlin, one of the editors of the Economists' Voice, to get his take on how much jargon we really need. VOTE: The poll closes at midnight tonight for our Iron Reporter Competition. Download the podcast; or subscribe. Music: Atlas Sound's "Walkabout." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Dec 2009 | 1:30 pm Something Serious Is Going On With Andrew Cuomo
When the controversy erupted in March, Cuomo agreed to keep the employees' identities secret as long as a significant share of the money was returned to the company. Some of them said his demand amounted to blackmail. But AIG officials said at the time that at least 18 of firm's top 25 executives had agreed to return at least some of their bonus money. "We are deeply gratified that a vast majority of FP's senior leadership have expressed a willingness to forsake their recent retention payments," the company said.
Source: Dealbreaker | 23 Dec 2009 | 1:26 pm MEMC’s Solar Christmas Order (WFR, XEL)If anyone in the solar space could use an order for Christmas, it is MEMC Electronic Materials Inc. (NYSE: WFR). The company’s SunEdison solar services unit, just received an order from Xcel Energy (NYSE: XEL) in its Southwestern Public Service Company. The order is for New Mexico and is expected to be fully operational by [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Dec 2009 | 1:24 pm How to pick a great wine from the sellerWant some nice wine to go with your holiday dinner? Wine can get expensive, even though it doesn't have to. Author Dara Moskowitz Grumdahl has some suggestions for the casual wine consumer in her new book, "Drink This." She gives Kai Ryssdal a taste.Source: Marketplace | 23 Dec 2009 | 1:24 pm Gilts sell-off as Britain joins Italy in debt houseThe cost of borrowing for the British Government has surged to within a whisker of Italian levels as global markets issue their punishing verdict.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Dec 2009 | 1:17 pm Deck the halls with shop-bought hollyBy ramming Christmas down shoppers’ throats, retailers are doing their duty by their countries. At this time of extreme economic weakness, what could be more national-minded than encouraging people to spend their money on festive tat?Source: Financial Times - US homepage | 23 Dec 2009 | 1:09 pm Biggest losers: Where Americans aren't movingSource: Business and financial news - CNNMoney.com | 23 Dec 2009 | 1:05 pm Glencore: one-time combat trader with pariah statesGlencore, one of the world's largest private companies, is a secretive Swiss commodity trader with a controversial history.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Dec 2009 | 1:03 pm Ethical bankers. No, reallyGoldman Sachs' banking titans and top Congressional Democrats don't often see eye to eye -- executive pay caps, anyone? But here's something the megabank and Capitol Hill agree on: One of the best ways to get financing to worthy small businesses is through a little-known community lending vehicle called a CDFI.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 1:00 pm What's my major? Health insurance.With the economy still struggling and unemployment holding at double digits a lot of new college graduates can't find jobs, let alone jobs with health insurance. So some students are getting smart about staying insured. Sarah Varney reports.Source: Marketplace | 23 Dec 2009 | 12:57 pm Who said econ and poli sci don't mix?Commentator Dan Drezner says one of the biggest changes that has gone unnoticed is the way the economy is now being studied -- with a healthy dose of political science.Source: Marketplace | 23 Dec 2009 | 12:56 pm Helping banks get back to the basicsMany small businesses' growth is on hold because banks aren't lending to them. Banks aren't lending because so many small business owners now have bad credit scores. How to end the stand-off? One lender may have found a way. Rob Schmitz reports.Source: Marketplace | 23 Dec 2009 | 12:56 pm Will outage put squeeze on Blackberry?The second BlackBerry blackout in a week has left users of the usually reliable device with idle thumbs for several hours. Bob Moon reports the company needs to be careful with its reputation, to keep rivals at bay.Source: Marketplace | 23 Dec 2009 | 12:56 pm Chinese car makers eye world marketsIn the last week, three Chinese car makers agreed to buy portions of brands owned by American auto manufacturers. The deals show the Chinese companies are looking to compete on a global scale. Alisa Roth reports.Source: Marketplace | 23 Dec 2009 | 12:56 pm Why new-home sales drop was a shockSales of newly-built houses fell more than 11% last month, surprising analysts who expected an increase of around 5%. After all, sales of previously owned homes were up. So how did the experts get it so wrong? John Dimsdale explains.Source: Marketplace | 23 Dec 2009 | 12:56 pm Recession Reduces MigrationBy Daniel Costello Several of the fastest-growing states in the South and West that once boasted the country's highest population growth rates are feeling the downward effects of the current recession more than the rest of the country, the Census Bureau reported Wednesday. Other states in the Sun Belt including Florida and Nevada fared even more poorly, and are seeing more people leave than move in -- a reversal from as recently as a year ago. According to the Washignton Post:
» E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Dec 2009 | 12:51 pm Italy tax amnesty yields record €80bnFinance minister declares days of tax havens over, but amnesty faces criticism over its real effects and weak money-laundering provisionsSource: Financial Times - US homepage | 23 Dec 2009 | 12:48 pm Two charged with insider trading in Chattem deal (Reuters)Reuters - Two French citizens have been charged by U.S. regulators with using inside information to buy securities of Chattem Inc before Sanofi-Aventis said it would acquire the healthcare group.Source: Yahoo! News: Stock Markets News | 23 Dec 2009 | 12:46 pm Kaupthing will not pay back 4,000 UK savers until 2017More than 4,000 British depositors may have to wait another eight years to get all their savings back from the offshore arm of the collapsed Icelandic bank Kaupthing.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Dec 2009 | 12:43 pm Tan salon owners see red over sunbed taxAs US senators prepare to vote on the healthcare reform bill, an unlikely casualty of one of Barack Obama’s keystone policies has now emerged: tanning salonsSource: Financial Times - US homepage | 23 Dec 2009 | 12:39 pm Allied rebound 'driven by speculators'Speculators are likely to be behind yesterday's 22 per cent price rebound in Allied Farmers, say market commentators.Shares in the farming services company, which last week acquired the assets of troubled finance company Hanover,...Source: nzherald.co.nz - Business | 23 Dec 2009 | 12:30 pm What's Wrong With Bernie Madoff?
* An erection lasting more 4 hours * Faked sick to get moved closer to a nurse he's had his eye on * YOU TELL US UPDATE: Dizziness and high blood pressure. Or so they say.
Source: Dealbreaker | 23 Dec 2009 | 12:23 pm Hyundai Likely Winner Of December Car Sales SweepstakesHyundai is likely to continue its string of sharply improved monthly sales in December.The firm is expected to sell 63,000 cars this month when its Hyundai and Kia nameplates are taken together. That figure would put it close to Nissan’s projected 70,000 units for December, according to car research firm Edmunds. Hyundai’s share of the American [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Dec 2009 | 12:08 pm U.S. retailers open past midnight in holiday pushNEW YORK (Reuters) - In the nights before Christmas, some U.S. retailers are opening their doors round the clock to wring out every last possible holiday sale.Source: Reuters: Business News | 23 Dec 2009 | 12:03 pm This Financial Regulation Reform Bill SucksSo says the head of the country's biggest options exchange, Bill Brodsky: "There are micro-market structure issues - flash orders, short-selling, high-frequency trading - that are being wrapped up into financial regulatory reform in a way that has a lot of political overtones," he said. "This is something regulators should be dealing with without undue political pressure from Congress." So what should Congress be doing? (Nothing is an unacceptable answer; these, people have to get reelected, Bill!)
Source: Dealbreaker | 23 Dec 2009 | 11:56 am Pinnacle Financial Upgraded, Tortoise Energy Downgraded: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 11:22 am Oracle Cuts Back As Ratings Agencies Cut Back
He just invests in them: to wit, his 13% stake in the lying, thieving Moody's Corp., parent of the august Moody's Investor Services, one of the three ratings agencies that allowed Wall Street to wrap fresh feces in a couple of mortgages unlikely to default and sell them as gold. But maybe the O is having second thoughts. Billionaire Warren Buffett's company is continuing to reduce its stake in credit ratings firm Moody's Corp., but Berkshire Hathaway Inc. still controls about 13 percent of Moody's stock....
Source: Dealbreaker | 23 Dec 2009 | 11:13 am Ford agrees terms for Volvo sale to GeelyThe buyer plans to take over the Swedish carmaker’s international manufacturing and sales network but will also make vehicles in its home country to feed rapidly growing demandSource: Financial Times - US homepage | 23 Dec 2009 | 11:12 am New home sales plunge in NovemberNew home sales unexpectedly plunged in November, according to a dismal government report.Source: Business and financial news - CNNMoney.com | 23 Dec 2009 | 10:47 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 Wednesday:Source: Yahoo! News: Stock Markets News | 23 Dec 2009 | 10:46 am New Homes Sales Fall A Surprising 11 PercentBy Daniel Costello The Commerce Department estimated Wednesday that sales of new homes fell 11.3 percent in November to a seasonally-adjusted annual rate of 355,000, the lowest level since March, as a popular tax break for first-time homeowners was set to expire. Economists had forecast sales would rise to 440,000. Buyers would have had to sign a contract on a new home by early October at the latest in order to receive the original tax credit, which was extended until June and expanded to include repeat buyers. On Tuesday, the National Association of Realtors reported that resales jumped 7.4 percent in November as buyers rushed to complete sales ahead of the deadline. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 23 Dec 2009 | 10:34 am Subsidiary to manage WiriPorts of Auckland and NZL Group have established a subsidiary company, Conlinxx, to manage the Wiri inland port which is to be linked to the seaport by rail early next year.The port company has operated the 10ha Wiri site as an...Source: nzherald.co.nz - Business | 23 Dec 2009 | 10:30 am Book Review: “ESPN: The Company”
Let’s say you and a group of friends have a killer business idea. You create a startup. After a lot of elbow grease, you scrounge up enough funds to get the startup off the ground. Next, you aggressively market, hire, and expand enough to ensure your little company’s survival. Once you’ve gained enough traction to do that, you work like a dog to ramp up your company’s growth with new products, services, and markets. Years later, you’re a sizable corporation. Congratulations! Just don’t grow complacent or egotistical. You’ll threaten your own survival if you do that. Your challenge now is to thrive as an institution. Handful enough for you? It is. That’s why few companies make it from fanatical startup to established institution.* Growing up can be complicated. That’s also why it’s hard for your average author to effectively chronicle a company’s growth. You have to draw out lessons and patterns from decades of details. You have to put your own biases aside to tell the story as it was. At the same time, you need to make readers understand the importance of how the company handled the challenges inherent to its evolution. It takes the right combination of mind and skills to pull this kind of thing off. And that’s exactly what authors Anthony F. Smith and Keith Hollihan manage to do in ESPN: The Company. Good job, guys. ESPN: The Company pulls you into life at ESPN through vivid character and company descriptions. You learn by vicariously participating. That’s what consultant Anthony F. Smith did during his 20+-year tenure with ESPN, though he experienced the company firsthand. He joined with McKinsey just as ESPN was gaining traction as a startup. He stayed all the way through to its current incarnation as a $30 billion sports media giant. In those years, he grew intimate with the people, culture, and strategy of ESPN. He and cowriter Keith Hollihan chronicle the highlights of those years: The prominent personalities within the company, the victories and losses, and the lessons learned. Each of the book’s eight chapters covers a guiding principle to ESPN’s success. Those guiding principles helped ESPN evolve from idea to empire, but could be applied to any company wanting to stay competitive and creative while ascending competitive ladder. Individually, each principle can be applied to any company. Taken together, though, they are the unique formula that led to ESPN’s success. Principles include: Think like an incumbent, but act like a challenger: Let your innate insecurities drive your achievement. Believing you are the best while being driven by doubts can be a good thing. Find the right leader at the right time: Every stage of an organization demands a different type of leadership. Surround yourself with other leaders who compensate for your weaknesses. Expand your brand: Let your mission drive your brand, not vice-versa. Protect the brand more aggressively than you expand it. While chronicling ESPN’s story, Smith also explains how it developed and kept its winning formula. For example, ESPN started up with a hungry, passionate, hardworking culture. Smith explains how they were able to keep it intact even after they grew large. Smith also explains how the company created the markets it now dominates. In another, especially strong chapter, he describes how each of the company’s leaders contributed to the right growth at the right time. He also breaks down how ESPN harnessed its employees’ and fans’ passion to gain business wins. These are lesson every business should learn. ESPN: The Company rewards readers with company intimacy and wisdom. The authors incorporate tidbits from a variety of sources to add nuance to the story. These include quotes, anecdotes, cable TV industry history, anthropology, and organizational science. This richness helps you feel like you’re participating in ESPN’s story. You come out of each chapter having learned through your reading experience. The authors recap lessons in a short summation at the end of each chapter. The book’s tone, while deeply respectful of ESPN, doesn’t make bones about the contentious aspects of the company’s growth. A book is a success when it makes you respect a company you formerly knew little about. It is a success when you feel like you’ve experienced, rather than read, the story within. Ditto if it makes you want to read more of the authors’ work. ESPN: The Company did all three for me. I highly recommend it. *These four stages are taken from the book, where they are chronicled in more detail. Disclosure: We were sent a copy of ESPN: The Company for free.
Source: Business Pundit | 23 Dec 2009 | 10:27 am FTSE 100 finishes higher (AFP)
Source: Yahoo! News: Stock Markets News | 23 Dec 2009 | 10:22 am FTSE 100 finishes higher (AFP)
Source: Yahoo! News: Business | 23 Dec 2009 | 10:22 am Atlas Mining's former boss settles SEC allegations (AP)AP - A northern Idaho mining company's former chief executive must pay $50,000 to settle allegations he financed his company's struggling operations by illegally distributing millions of dollars worth of stock to investors.Source: Yahoo! News: Stock Markets News | 23 Dec 2009 | 9:25 am Jeffrey Epstein Settles With Nearly 1/4 Of VictimsFour girls down, 14 more to go. Unfortunately the settlements are confidential, so we're not going to get anymore tales of the massage enthusiast wearing red wigs and lipstick and requesting to be called "Janice" (yet). But we'll always have this.
Source: Dealbreaker | 23 Dec 2009 | 9:11 am Issuance of Municipal Securities ETFs Increases: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 9:08 am The People Who Brought You Tim Sykes May Be BackThough probably not.
FYI, just received the below...Are they back???!!
Source: Dealbreaker | 23 Dec 2009 | 8:53 am Weil Gotshal’s Miller Discusses Bankruptcy Restructuring: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 8:49 am On Wall St: A tonic that works too wellThe current hunt for yield is reinvigorating some of the demons that caused the credit crisis, writes Henny SenderSource: Financial Times - US homepage | 23 Dec 2009 | 8:44 am This Recovery Sucks
So personal incomes rose 0.4% last month. Great. As with all recent economic indicators, that bit of good news was tempered by the fact that the market expected--nay, demanded!--better news. And what were we doing with all these newfound riches? Buying crap. At least, buying slightly more crap than we did a month earlier, 0.5% more crap, to be exact. And this of course also disappointed the experts, who expected us to buy slightly more crap.
Source: Dealbreaker | 23 Dec 2009 | 8:44 am Presented By:Source: Dealbreaker | 23 Dec 2009 | 8:44 am S&P's Wyss Discusses U.S. Employment, Economy: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 8:29 am Casesa's Keller Discusses U.S. Auto Industry: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 8:27 am Hageboeck Discusses FDIC and U.S. Banking Industry: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 8:26 am Merrill's Matus Sees 4.6% U.S. GDP for Fourth Quarter: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 8:16 am Kounis on Economy, Rosborough on Dollar, Schenker on Oil: AudioSource: Bloomberg - All Podcasts | 23 Dec 2009 | 8:15 am The Story Behind the Space Jam Jordans Hype
Nike released a limited number of Space Jam Jordans to stores last night. The sneakers, formally named Air Jordan XI (11) Retro Space Jams, are so highly coveted that shoppers crowded malls at midnight or camped out to get a pair. I recall Air Jordans being the must-have sneaker in the 1990s, but what’s going on with the Space Jams now? The LA Times breaks down what makes the $175 shoe so desirable: So what goes into making the clump of patent leather, plastic and fabric known as “Style Code:136046-041″ so hotly anticipated and covet-worthy? The story starts in 1985, with the original Nike Air Jordan 1, Michael Jordan’s red-and-black, high-top basketball shoe whose color scheme earned them an NBA ban for violating the league’s uniform policy regulating colors. The NBA levied a fine against Jordan — who played on nonetheless– and a sneaker craze was born, with new, Roman-numeral-designated versions of the Air Jordan (AJ) shoe following just about every year. NiceKicks.com’s (Matt) Halfhill points out that the Air Jordan XI that was released in 1995 had sneaker collectors salivating not just for the way it looked — riffing on a tuxedo with a shiny, black patent leather strip undulating around the base of the white nylon upper, a white midsole and a clear outsole — but for what happened in those shoes. “It’s the first shoe Jordan won a championship in after coming back from his first retirement,” Halfhill explained. “So that was a big deal. Also the Bulls went 72 and 10 [an NBA record] when he wore that shoe.” Jordan also notched his eighth scoring title and earned his fourth championship ring in the XIs. In 1996, Michael Jordan appeared in the movie “Space Jam” alongside Bugs Bunny and a cadre of animated Looney Tunes. Footwear aficionados noticed that the AJ XIs Jordan wore in the film were a different color combination — black on black with a pop of purple in the “Jumpman” logo on the heel. Adding to the desirability was the fact that what came to be known as the Space Jam color-way didn’t exist outside of the movie set, since only a handful of size 13s were made for the personal use of His Airness during filming. It was four more years before the shoes would be available to the general public (with a blue Jumpman logo instead of purple), and when they were released in late 2000, they were a hot seller. (Boutique owner Tak) Kato points out that the delay to market helped stoke demand. “And they haven’t been reissued since that time. So that’s nine more years of demand there. That’s probably going to make it the biggest release of the whole year.” Nine years of pent-up demand? No wonder sneaker aficionados are going crazy. Good move by Nike.
Source: Business Pundit | 23 Dec 2009 | 7:43 am Ford to Complete Volvo Sale in Q1 2010
Ford Motor Co. will complete the sale of Volvo to Geely Automobile, a Chinese automaker, by Q1 2010. Automotive World has more: As of now, the US OEM says that all substantive commercial terms relating to the potential sale have been settled between Ford and Geely, though some work still remains to be completed before signing, including final documentation, financing and government approvals. Ford says that the proposed sale to Geely would provide Volvo with “the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement its core ONE Ford strategy.” Ford expects to continue cooperating with Volvo across several areas after a the sale, though it does not intend to retain a shareholding. Further details are expected to be released following the signing of a definitive sale agreement.
Source: Business Pundit | 23 Dec 2009 | 7:16 am Morning Report: Incomes Rise Most In Six Months; Mortgage Applications FallBy Daniel Costello Americans' wages and salaries made the largest gain in six months during November and spending rose strongly, according to data suggesting the economy might have sped up near the end of the year. The Commerce Department said spending increased 0.5 percent after rising by 0.6 percent in October. Personal saving was $525 billion in November, compared with $516 billion in October. Personal saving as a percentage of disposable personal income was 4.7 percent in November, the same as in October. Economists predict the savings rate will continue to climb, with many expecting savings to top out around 6-8 percent. As 2009 winds down, mortgage applications in the U.S. fell last week for the first time in a month as purchases and refinancing weakened. The Mortgage Bankers Association's index of loan applications decreased 11 percent to 595.8 the week ended Dec. 18, the lowest level since October, from 667.3 the prior week. The group's refinancing gauge dropped 10 percent, while purchases declined for a second consecutive week. Mortgage rates are now near levels seen at this time last year, giving households less reason to lower monthly payments. But several reports in recent weeks, including strong existing homes sale data released Monday, point to an increasingly stabilized housing market. Ford Motor Co. has reportedly finalized the details of the sale of its Volvo unit to China's Zhejiang Geely Holding Group and expects to finalize the agreement by the end of the first quarter of 2010. Ford first said it would consider selling Volvo in December 2008 and named Geely as its preferred bidder in October. For the first nine months of this year, Ford said, Volvo posted a pre-tax loss of $994 million compared with a loss of $787 million for the same period last year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Dec 2009 | 7:09 am “Apple” Computer
Source: Business Pundit | 23 Dec 2009 | 4:41 am
|
