Toyota extending recall to Europe amid US problems (AP)

Robert Chung, left, and his wife Mandy Cui look over a new Toyota Highlander hybrid SUV at a Toyota dealership in Seattle, Wednesday, Jan. 27, 2010. Toyota Motor Corp. announced late Tuesday it would halt sales of some of its top-selling models to fix gas pedals that could stick and cause unintended acceleration. Last week, Toyota issued a recall for the same eight models affecting 2.3 million vehicles. (AP Photo/Elaine Thompson)AP - Toyota's massive recalls over problem gas pedals in the U.S. are being extended to Europe, the latest blow to the world's top automaker as it struggles to salvage its safety reputation.



Source: Yahoo! News: Business News | 28 Jan 2010 | 3:38 am

FTSE 100 rises as Obama speech boosts banks

Britain's top shares rose early on Thursday, as investors breathed a sigh of relief after the US president's State of the Union address and the Federal Reserve's decision to keep interest rates near zero.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 3:36 am

Chinese whispers drive up Greek yields

Greece’s debt crisis returned with a vengeance as agitated investors demanded the highest premiums to buy its bonds since the launch of European monetary union over a decade ago
Source: Financial Times - US homepage | 28 Jan 2010 | 3:27 am

Petroleum still king, oil chiefs tell Davos

Oil industry titans say Thursday at the World Economic Forum's annual meeting in Switzerland that there is too much talk "about moving away from oil."



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 3:24 am

Jobs 'must be our No.1 focus'

Boosting employment tops the to-do list in Washington this year.
Source: Business and financial news - CNNMoney.com | 28 Jan 2010 | 3:21 am

Illness keeps Lula away from Davos

President Lula of Brazil cancels his trip to the World Economic Forum after being taken ill with high blood pressure.
Source: BBC News | Business | World Edition | 28 Jan 2010 | 3:18 am

Asia markets rebound on strong earnings, Fed view

Most Asian stock markets bounce back as the U.S. Federal Reserve’s more upbeat economic assessment and strong corporate earnings reports helps investors to buy into beaten-down regional stocks.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 3:17 am

Toyota extends massive safety recall to Europe (Reuters)

A Gray-Daniels Toyota salesman rides his cart through parking spaces that formerly held new vehicles ready for sale, Wednesday, Jan. 27, 2010, in Brandon, Miss. Toyota Motor Corp. announced late Tuesday it would halt sales of some of its top-selling models to fix gas pedals that could stick and cause unintended acceleration. Last week, Toyota issued a recall for the same eight models affecting 2.3 million vehicles. The Brandon sales staff separated vehicles that might be affected from those not affected. (AP Photo/Rogelio V. Solis)Reuters - Toyota Motor Corp is extending to Europe the recall of millions of its most popular cars due to dangerous accelerator pedals, a further blow to the reputation of the world's largest car maker.



Source: Yahoo! News: Business News | 28 Jan 2010 | 3:10 am

Toyota extends massive safety recall to Europe

TOKYO/DETROIT (Reuters) - Toyota Motor Corp is extending to Europe the recall of millions of its most popular cars due to dangerous accelerator pedals, a further blow to the reputation of the world's largest car maker.

Source: Reuters: Business News | 28 Jan 2010 | 3:10 am

H&M profit up 21%, but warns of weak sales to come

Hennes & Mauritz on Thursday reported a 21% rise in fourth-quarter net profit, helped by store expansion, currency hedging, surplus capacity from suppliers and less theft, but the Swedish clothing retailer warned its first-quarter margin will be hit after selling less winter gear than it had planned.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 3:09 am

JJB Sports chairman to stand down

JJB Sports says its chairman is to step down due to ill health, and reports a slowdown in the rate of its sales decline.
Source: BBC News | Business | World Edition | 28 Jan 2010 | 3:06 am

Hyundai Motor's Q4 profit nearly quadruples (AP)

A man walks past Hyundai motor's showroom in Seoul, South Korea, Thursday, Jan. 28, 2010. Hyundai Motor's net profit nearly quadrupled in the fourth quarter on higher sales following a strong performance during 2009 in the fast-growing Chinese and Indian auto markets. (AP Photo/Lee Jin-man)AP - Hyundai Motor's net profit nearly quadrupled in the fourth quarter on higher sales following a strong performance during 2009 in the fast-growing Chinese and Indian auto markets.



Source: Yahoo! News: Business News | 28 Jan 2010 | 3:05 am

H&M 4Q profit rises 21 pct on new store openings (AP)

AP - Swedish fashion chain Hennes & Mauritz AB on Thursday reported a 21 percent rise in fourth-quarter net profit, as new store openings helped it defy the weak market.
Source: Yahoo! News: Business News | 28 Jan 2010 | 3:03 am

Toyota adds 1 million more cars to recall

Toyota is reportedly expanding its recall to another one million vehicles to replace floor mats that risk trapping accelerator pedals and causing sudden acceleration.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 3:03 am

High definition TV boosts BSkyB

Satellite TV group BSkyB reports a 30% rise in half-year profits, lifted by the growing popularity of its high definition channels.
Source: BBC News | Business | World Edition | 28 Jan 2010 | 3:00 am

Nintendo profit drops despite strong holiday sales (AP)

A shopper checks a computer game software by shelves selling Nintendo DS game softwares at a Yamada Denki discount store in Tokyo, Japan, Thursday, Jan. 28, 2010. Nintendo, maker of the hit Wii game console, said profit for the April-December period fell 9.4 percent after a lackluster first half tarnished strong holiday sales. Nintendo Co. reported Thursday a 192.6 billion yen ($2.1 billion) profit for the nine months through Dec. 31, down from 212.5 billion yen a year earlier. (AP Photo/Shizuo Kambayashi)AP - Nintendo, maker of the hit Wii game console, said profit for April through December fell 9 percent after price cuts and the rising yen tarnished strong holiday sales.



Source: Yahoo! News: Business News | 28 Jan 2010 | 2:58 am

'Everyone in this town had to sacrifice'

In downtown Wilmington, a brightly colored flag with the word "OPEN" serves as a sign of both hope and despair.
Source: Business and financial news - CNNMoney.com | 28 Jan 2010 | 2:58 am

ING appeals against E.U. state aid ruling

The Dutch financial remains committed to selling off its insurance assets.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 2:50 am

Nintendo profits hit by Wii sales

Nintendo reports a near 10% fall in profits between April and December last year as games console sales slowed.
Source: BBC News | Business | World Edition | 28 Jan 2010 | 2:48 am

German unemployment rises in January: statistics (AFP)

A man walks past a jobcentre in the eastern German city of Dresden, 2009. German unemployment jumped in January to 8.6 percent of the workforce, with a total of 3.617 million unemployed, the Federal Labour Agency said, but the rise was lower than feared by analysts.(AFP/DDP/File/Norbert Millauer)AFP - German unemployment jumped in January to 8.6 percent of the workforce, with a total of 3.617 million unemployed, the Federal Labour Agency said on Thursday, but the rise was lower than feared by analysts.



Source: Yahoo! News: Business News | 28 Jan 2010 | 2:45 am

World stock markets gain after Obama address (AP)

People look at the electronic stock board of a securities firm in Tokyo, Japan, showing Japan's benchmark Nikkei 225 stock average gains 133.91 to 10,385.99 point Thursday, Jan. 28, 2010, shortly after U.S. President Barack Obama's State of the Union address. (AP Photo/Koji Sasahara)AP - Asian stocks snapped their losing streak and European shares pushed higher Thursday as U.S. President Barack Obama pledged to create more jobs and spur growth in the world's largest economy.



Source: Yahoo! News: Business News | 28 Jan 2010 | 2:44 am

World stock markets gain after Obama address (AP)

People look at the electronic stock board of a securities firm in Tokyo, Japan, showing Japan's benchmark Nikkei 225 stock average gains 133.91 to 10,385.99 point Thursday, Jan. 28, 2010, shortly after U.S. President Barack Obama's State of the Union address. (AP Photo/Koji Sasahara)AP - Asian stocks snapped their losing streak and European shares pushed higher Thursday as U.S. President Barack Obama pledged to create more jobs and spur growth in the world's largest economy.



Source: Yahoo! News: Stock Markets News | 28 Jan 2010 | 2:44 am

London Markets: Miners, banks help British stocks advance

Investors return to the mining and banking sectors after the U.S. Federal Reserve appears to offer a slightly more upbeat outlook on the U.S. economy while keeping interest rates on hold.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 2:43 am

Stocks poised to jump

U.S. stocks were set for early gains Thursday, as sentiment got a boost from President Obama's pledge to create jobs and the Federal Reserve's outlook for the economy.
Source: Business and financial news - CNNMoney.com | 28 Jan 2010 | 2:38 am

Nintendo Q3 profit down 23 pct (Reuters)

An employee arranges Nintendo Co's Wii game console at a Yamada Denki electronics retail store in Tokyo January 5, 2010. REUTERS/Toru HanaiReuters - Nintendo Co Ltd posted a 23 percent fall in quarterly profit as software sales for its DS handheld game player slowed and it cut the price of its Wii console, keeping its forecast for the first annual profit decline in four years.



Source: Yahoo! News: Business News | 28 Jan 2010 | 2:35 am

Massive Toyota recall to encompass Europe

Toyota’s massive recall of more than seven million vehicles in the United States — sparked by reliability problems with accelerator pedals — is to be extended to Europe, the company has acknowledged.


Source: Latest Business News from Times Online | 28 Jan 2010 | 2:32 am

Toyota recalls another 1.1m cars

Toyota recalls 1.1 million more US cars over concerns about faulty accelerator pedals and says European cars are also affected.
Source: BBC News | Business | World Edition | 28 Jan 2010 | 2:25 am

Apple's iPad beauty could be an ugly beast for mobile operators

Apple's iPad tablet device is, unsurprisingly, a beauty. That spells trouble for mobile operators.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 2:15 am

Bank of China may issue more HK-listed stock

Bank of China intends to move ahead with a $5.9 billion convertible bond sale, in order to ensure it meets capital adequacy ratios.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 2:11 am

Obama aims to win climate bill with green jobs, nuclear (Reuters)

U.S. President Barack Obama while delivering his first State of the Union address on Capitol Hill in Washington, January 27, 2010. Obama, trying to save a stalled bill to fight climate change, said on Wednesday clean energy investment could power jobs growth and made no mention of creating a market in planet-warming emissions. REUTERS/Jim YoungReuters - President Barack Obama, trying to save a stalled bill to fight climate change, said on Wednesday clean energy investment could power jobs growth and made no mention of creating a market in planet-warming emissions.



Source: Yahoo! News: Business News | 28 Jan 2010 | 2:00 am

Europe Markets: European shares higher after Fed comments

European shares advance on Thursday, with investors getting their first chance to react to the U.S. Federal Reserve’s more upbeat comments on the U.S. economy.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 2:00 am

Currencies: Dollar edges down after Obama speech

The dollar erases early gains and slips against major counterparts in Asian trading Thursday, as traders cover short positions after President Barack Obama’s first State of the Union speech.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 2:00 am

Las Vegas: Call it Foreclosure City

Cities in the so-called Sand States dominated the foreclosure rankings in 2009, with the 20 worst-hit metro areas residing in Nevada, Florida, California and Arizona.
Source: Business and financial news - CNNMoney.com | 28 Jan 2010 | 1:51 am

Davos Day 2: live coverage of the World Economic Forum

0925 GMT: Mervyn Davies, the UK Trade Minister, puts in a plea for credit rules to be relaxed for short term loans meant to finance trade. The stringent new rules on lending introduced after the credit crunch are still stifling day-to-day business, which relies on short term instruments, he says.


Source: Latest Business News from Times Online | 28 Jan 2010 | 1:46 am

Sir David Jones steps down as JJB chairman

David Jones is to step down as chairman of JJB Sports for health reasons as the embattled sports retailer reported a 28pc slump in sales in the past year.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 1:29 am

JP Rangaswami: thoughts from Davos Part 1

JP Rangaswami, is chief scientist at UK technology company BT and author of a blog called confusedofcalcutta. He's writing from the World Economic Forum in Davos.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 1:24 am

UPDATE 2-Taiwan's TSMC boosts 2010 capex to ride tech boom

* Sees 2010 capex at record $4.8 bln vs $2.7 bln year ago
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 1:19 am

Citi mulling sale of real estate unit: report

(Reuters) - U.S. bank Citigroup Inc is in advanced talks to sell its real estate investment business and has prepared a shortlist of final bidders, Bloomberg reported, citing two people familiar with the matter.

Source: Reuters: Business News | 28 Jan 2010 | 1:18 am

Car sales boost Hyundai profits

Hyundai reports a fourfold increase in profits between October and December as government incentives helped to boost car sales.
Source: BBC News | Business | World Edition | 28 Jan 2010 | 1:17 am

Nintendo's profit falls 9.4% as sales shrink

The Japanese company says sales were “robust" during the Western holiday season but profit still falls 9.4%.



Source: MarketWatch.com - Top Stories | 28 Jan 2010 | 1:17 am

UPDATE 2-Coloplast Q1 EBIT beats forecast, ups guidance

* Firm raises 2009-10 EBIT margin forecast to around 19 pct
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 1:14 am

Chi Mei, Innolux, TPO merger pushed to April-source

TAIPEI, Jan 28 (Reuters) - The proposed merger between Taiwan LCD panel makers Innolux , Chi Mei and TPO Display will be delayed by a month to April 1, a source with direct knowledge of the situation...
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 1:07 am

Home builder Ryland swings to profit

A $97.6-million tax benefit helps the Calabasas company report net income of $39 million in the fourth quarter. Revenue, however, declines 21%. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

Toyota's gas-pedal problems grow

The carmaker adds 1.1 million more vehicles to its floor mat recall and comes under increasing scrutiny for its handling of the matter. A congressional panel plans an investigation.

Toyota Motor Corp.'s sudden-acceleration troubles mounted Wednesday, with the automaker adding 1.1 million more vehicles to an already massive recall even as it came under increasing fire for its handling of the problem.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

William Bratton launches global security firm Monday

As chairman of Altegrity Risk International, the retired LAPD chief has tapped a former L.A. councilman and a former deputy police chief to fill key roles.

With former Los Angeles Police Chief William J. Bratton on board, Virginia-based Altegrity Inc. is launching a global investigations company with ties to the city.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

William Bratton launches global security firm Monday

As chairman of Altegrity Risk International, the retired LAPD chief has tapped a former L.A. councilman and a former deputy police chief to fill key roles. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

Fed keeps key interest rates steady despite board member's disapproval

Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City, Mo., dissents from the central bank's action to keep interest rates at near zero for 'an extended period.' He calls it 'unwarran...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

Geithner defends AIG bailout at House hearing

The Treasury secretary and his predecessor, Henry M. Paulson, come under fire for their role in the controversial rescue that resulted in taxpayers owning 80% of the insurance giant. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

Fed keeps key interest rates steady despite board member's disapproval

Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City, Mo., dissents from the central bank's action to keep interest rates at near zero for 'an extended period.' He calls it 'unwarran

As Federal Reserve Chairman Ben S. Bernanke appeared to gain enough backing for confirmation to a second term, the central bank offered a more upbeat assessment of the economy than it did last month but still affirmed a pledge to keep interest rates near zero for "an extended period."



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

IPad less than revolutionary for now, but holds great promise

It's hard to see Apple's iPad as anything other than a mortal threat to Amazon.com's market-leading Kindle reader. But depending on how the iPad is exploited, eventually it could be much more. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

IPad less than revolutionary for now, but holds great promise

It's hard to see Apple's iPad as anything other than a mortal threat to Amazon.com's market-leading Kindle reader. But depending on how the iPad is exploited, eventually it could be much more.

Only Steve Jobs could make anticlimax seem so fascinating.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

Apple unveils the iPad, its highly anticipated tablet computer

CEO Steve Jobs calls the device, which will let users download and read books among many other applications, 'magical' and 'revolutionary.' But some analysts are disappointed.

Apple Inc. Chief Executive Steve Jobs sat in a leather chair onstage with all the tech world watching Wednesday as he showed off his much-anticipated and talked-about design marvel. He was placing a risky bet that the company could again change the world of entertainment, but this time adding books.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

Elisabeth Murdoch talks tough at gathering of TV executives

The daughter of News Corp. Chairman Rupert Murdoch levels charges of intransigence and myopia at the National Assn. of Television Program Executives. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

Head of California pension fund travels to Swiss conference

Jack Ehnes, chief executive of the California State Teachers' Retirement System, will attend the World Economic Forum at the Davos ski resort. The fund's critics don't object to the $4,000 expense.

Beleaguered Wall Street bankers might be staying away from this year's World Economic Forum at Davos, the Swiss ski resort.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

Apple unveils the iPad, its highly anticipated tablet computer

CEO Steve Jobs calls the device, which will let users download and read books among many other applications, 'magical' and 'revolutionary.' But some analysts are disappointed. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

Boeing swings to a $1.27-billion profit despite downturn in aviation

The fourth-quarter earnings contrast with a loss last year, when a machinists' strike halted production lines at the aerospace company. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

California mortgage defaults drop 24.3%

The number of homes entering the first stage of foreclosure fell in the fourth quarter compared with the previous quarter, MDA DataQuick says -- a sign that banks are working with delinquent borrowers...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

Head of California pension fund travels to Swiss conference

Jack Ehnes, chief executive of the California State Teachers' Retirement System, will attend the World Economic Forum at the Davos ski resort. The fund's critics don't object to the $4,000 expense. ...
Source: RSS feed - channel BNPaperBusiness | 28 Jan 2010 | 1:00 am

WellPoint sees profit grow eightfold in fourth quarter

The parent company of California's largest health insurer, Anthem Blue Cross, is projecting higher earnings this year despite softening enrollments and revenue from premiums.

The parent company of Anthem Blue Cross, California's largest health insurer, posted an eightfold increase in profit for the fourth quarter and projected solid earnings for this year despite a recent softening in enrollments and revenue from premiums.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

Geithner defends AIG bailout at House hearing

The Treasury secretary and his predecessor, Henry M. Paulson, come under fire for their role in the controversial rescue that resulted in taxpayers owning 80% of the insurance giant.

Treasury Secretary Timothy F. Geithner took a political beating Wednesday for his role in the controversial bailout of American International Group Inc., but he didn't waver in defending the actions he and other government officials took to rescue the insurance giant.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

California mortgage defaults drop 24.3%

The number of homes entering the first stage of foreclosure fell in the fourth quarter compared with the previous quarter, MDA DataQuick says -- a sign that banks are working with delinquent borrowers

The Obama administration's $75-billion program to help troubled borrowers hold on to their homes appears to be keeping more California families out of foreclosure, data released Wednesday showed, but the relief may be temporary.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

Home builder Ryland swings to profit

A $97.6-million tax benefit helps the Calabasas company report net income of $39 million in the fourth quarter. Revenue, however, declines 21%.

Home builder Ryland Group Inc. posted a fourth-quarter profit Wednesday, exceeding analysts' expectations with a boost from an income tax benefit.



Source: L.A. Times - Business | 28 Jan 2010 | 1:00 am

WRAPUP 1-Japan's Elpida Q3 profit up, sees tight supply

* Y21 bln Q3 net profit is first in 9 qtrs, biggest in 3 yrs
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 12:59 am

UPDATE 1-Explorer Afren exceeds 2009 production expecations

* Establishes JV for further exploration off Nigerian coast
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 12:56 am

UPDATE 1-Japan drug firm Otsuka to go public -sources

* Japan's IPO market more than halved in 2009 to $637 million
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 12:41 am

Telecom falls 3c, market closes down

The New Zealand sharemarket's pre-reporting season drift continued unabated today with the benchmark index easing slightly while other markets in Asia rallied.The benchmark NZX50 index closed down 9.969 points, to 0.312 per cent,...
Source: nzherald.co.nz - Business | 28 Jan 2010 | 12:40 am

BSkyB interim profits rise on popularity of HD

BSkyB, the UK broadcasting group, reported a 4 per cent rise in profits for the first half of its financial year, boosted by the continuing popularity of its high-definition packages.


Source: Latest Business News from Times Online | 28 Jan 2010 | 12:38 am

Motor insurance: uninsured drivers cost us £2bn a year

Consumer Intelligence found that men face larger motor policy increases than women, with the average man's policy up by 20pc.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 12:38 am

UPDATE 1-Erg, Total set Italian downstream venture

MILAN, Jan 28 (Reuters) - Italian oil refiner ERG SpA and France's Total SA have agreed a refining and marketing joint venture in Italy, the companies said on Thursday, in ERG's second move to gain a...
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 12:34 am

JJB's Sir David Jones steps down over health

JJB Sports announced today that Sir David Jones would step down as chairman of the sports retailer because of "continuing issues with his health".


Source: Latest Business News from Times Online | 28 Jan 2010 | 12:32 am

BSkyB boosted by strong demand for high definition service

BSkyB, the satellite broadcaster, added 172,000 net new customers in the second quarter of the year, at the top end of expectations, as its hugely popular high definition service pulled in new subscribers.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 12:31 am

UK shares with a global twist

Many fund managers are turning to UK shares with global exposure to beat Britain's gloomy outlook.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 12:31 am

Obama makes jobs US priority

Barack Obama says in his first State of the Union speech that change has not come quickly enough and jobs are top priority.
Source: BBC News | Business | World Edition | 28 Jan 2010 | 12:24 am

UPDATE 1-BSkyB posts strong growth but HD investment weighs

* Heavy HD investment weighs on adjusted operating profits
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 12:19 am

UPDATE 1-AU Q4 net lags estimates as lawsuit weighs

* Q4 net loss T$7.9 bln vs T$353 mln net profit consensus
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 12:15 am

Toyota expands massive recall

Toyota is to recall an additional 1.09m vehicles in the United States over problems with floor mats - a fresh blow to the world's top automaker as it struggles to salvage its safety reputation.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 28 Jan 2010 | 12:06 am

DNA Chip Research -9-mth parent results

9 months ended 9 months ended Year to
Source: RSS feed - channel BNewsBusiness | 28 Jan 2010 | 12:01 am

McDonald's, franchisees in Germany in dispute: report

(Reuters) - Several franchise holders of McDonald's Corp's German unit have accused the world's largest hamburger chain of trying to force them out of their contracts, the Wall Street Journal reported. The restaurant operators said McDonald's used private investigators and offered jobs to franchise employees in exchange for information needed to terminate franchise holders' contracts, the Journal said.

Source: Reuters: Business News | 28 Jan 2010 | 12:00 am

Isas: funds for the cautious

For those looking for an income fund, one manager stands head and shoulders above the rest.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jan 2010 | 11:57 pm

MBA students see signs of U.S. job market thaw

BOSTON (Reuters) - Students at one of America's top business schools see evidence that high-technology, startup and alternative energy companies will hire more actively this year after a difficult 2009 for graduates.

Source: Reuters: Business News | 27 Jan 2010 | 11:56 pm

Isas: which income fund?

For those looking for an income fund, one manager stands head and shoulders above the rest.
Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 27 Jan 2010 | 11:55 pm

Happy thought

Can money buy people happiness after all?
Source: BBC News | Business | World Edition | 27 Jan 2010 | 11:49 pm

Dollar mixed after rate decision

The New Zealand dollar had a mixed session today and ended up reacting more to US President Barack Obama's state of the union address than to the latest Reserve Bank of New Zealand (RBNZ) decision on interest rates.Dealers said...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 10:53 pm

Barack Obama makes US jobs top priority State of Union speech

A week after the worst political setback of his presidency, Barack Obama used his first State of the Union address overnight to rally his party, talk up the struggling American economy and challenge Republicans to stop “just saying no”.
Source: Latest Business News from Times Online | 27 Jan 2010 | 10:27 pm

Barack Obama: I don't quit - let's start again

A week after the worst political setback of his presidency, Barack Obama used his first State of the Union address overnight to rally his party, talk up the struggling American economy and challenge Republicans to stop “just saying no”.
Source: Latest Business News from Times Online | 27 Jan 2010 | 10:27 pm

Toyota falls as recall spreads to Europe

Shares of Toyota fell for a fifth straight day as the crisis over cars with malfunctioning accelerators spread to Europe where the company is extending its massive recall of vehicles
Source: Financial Times - US homepage | 27 Jan 2010 | 10:12 pm

Obama pledges renewed focus on jobs

President Barack Obama declared that creating jobs would be his ‘number one focus’ this year, delivering a rousing inaugural State of the Union address in which he pledged to right the economy and continue pushing for healthcare and financial reform
Source: Financial Times - US homepage | 27 Jan 2010 | 10:10 pm

Obama Pushes $10,000 College Tax Credit and Student Debt Relief (Bloomberg)

Bloomberg - Jan. 28 (Bloomberg) -- President Barack Obama touted education among his top priorities in his first State of the Union address, proposing a $10,000 higher-education tax credit for families and debt forgiveness for people who have been repaying their college loans for at least 20 years.
Source: Yahoo! News: Business News | 27 Jan 2010 | 10:00 pm

10 Things the Weight-Loss Industry Won't Say (Consumer Action)

January is big business for diet companies. Here's the skinny on them.



Source: SmartMoney.com | 27 Jan 2010 | 10:00 pm

Lawmakers turn up heat on Geithner over AIG

WASHINGTON (Reuters) - U.S. lawmakers challenged Treasury Secretary Timothy Geithner's credibility on Wednesday after he said he was not involved in a decision by bailed-out insurer AIG to withhold details about $62 billion paid to banks.

Source: Reuters: Business News | 27 Jan 2010 | 9:55 pm

Toyota adds 1 million vehicles to recall

Toyota announced Wednesday night that it is adding another 1.1 million vehicles to an an earlier 4.2 million vehicle recall originally announced in November.
Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 9:48 pm

Fed, techs lift Wall St; futures cheer Obama (Reuters)

Traders work on the floor of the New York Stock Exchange January 8, 2010. REUTERS/Shannon StapletonReuters - Stocks rose on Wednesday after the U.S. Federal Reserve pledged to keep interest rates near zero and stock futures signaled more gains ahead after President Barack Obama struck a conciliatory tone on banks in his State of the Union speech.



Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 9:29 pm

Fed, techs lift Wall St; futures cheer Obama

NEW YORK (Reuters) - Stocks rose on Wednesday after the U.S. Federal Reserve pledged to keep interest rates near zero and stock futures signaled more gains ahead after President Barack Obama struck a conciliatory tone on banks in his State of the Union speech.

Source: Reuters: Business News | 27 Jan 2010 | 9:29 pm

Rockefeller disappearance mystifies Kiwi colleague

One of Herman Rockefeller's former New Zealand business associates, Jim Watson, said the businessman's disappearance was "totally out of character".Watson, a biotech business pioneer and current chair of the Royal Society's National...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 8:51 pm

Stocks show mildly positive reaction to Obama (AP)

AP - The stock market is showing a mildly positive reaction to President Barack Obama's State of the Union address.
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 8:43 pm

Obama State of the Union Address: Excerpts for Business & the Economy

Obama’s State of the Union address tonight mentioned a variety of coming changes for business and economic policy. Here are some of the most important excerpts from the full speech:

Small business:

…tonight, I’m proposing that we take $30-billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. I am also proposing a new small business tax credit – one that will go to over one million small businesses who hire new workers or raise wages. While we’re at it, let’s also eliminate all capital gains taxes on small business investment; and provide a tax incentive for all businesses, large and small, to invest in new plants and equipment.

Corporate tax breaks:

…to encourage…businesses to stay within our borders, it’s time to finally slash the tax breaks for companies that ship our jobs overseas and give those tax breaks to companies that create jobs in the United States of America.

The House has passed a jobs bill that includes some of these steps. As the first order of business this year, I urge the Senate to do the same.

Clean energy:

…to create more of these clean energy jobs, we need more production, more efficiency, more incentives. That means building a new generation of safe, clean nuclear power plants in this country. It means making tough decisions about opening new offshore areas for oil and gas development. It means continued investment in advanced biofuels and clean coal technologies. And yes, it means passing a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America.

I am grateful to the House for passing such a bill last year. This year, I am eager to help advance the bipartisan effort in the Senate.

Trade:

Third, we need to export more of our goods. Because the more products we make and sell to other countries, the more jobs we support right here in America. So tonight, we set a new goal: We will double our exports over the next five years, an increase that will support two million jobs in America. To help meet this goal, we’re launching a National Export Initiative that will help farmers and small businesses increase their exports, and reform export controls consistent with national security.

Higher education:

I urge the Senate to follow the House and pass a bill that will revitalize our community colleges, which are a career pathway to the children of so many working families. To make college more affordable, this bill will finally end the unwarranted taxpayer-subsidies that go to banks for student loans. Instead, let’s take that money and give families a $10,000 tax credit for four years of college and increase Pell Grants. And let’s tell another one million students that when they graduate, they will be required to pay only ten per cent of their income on student loans, and all of their debt will be forgiven after twenty years – and forgiven after ten years if they choose a career in public service. Because in the United States of America, no one should go broke because they chose to go to college.

Individual taxes:

To help working families, we will extend our middle-class tax cuts. But at a time of record deficits, we will not continue tax cuts for oil companies, investment fund managers, and those making over $250,000 a year. We just can’t afford it.

Campaign spending:

…it’s time to put strict limits on the contributions that lobbyists give to candidates for federal office. Last week, the Supreme Court reversed a century of law to open the floodgates for special interests – including foreign corporations – to spend without limit in our elections. Well I don’t think American elections should be bankrolled by America’s most powerful interests, or worse, by foreign entities. They should be decided by the American people, and that’s why I’m urging Democrats and Republicans to pass a bill that helps to right this wrong.

I’m also calling on Congress to continue down the path of earmark reform. You have trimmed some of this spending and embraced some meaningful change. But restoring the public trust demands more. For example, some members of Congress post some earmark requests online. Tonight, I’m calling on Congress to publish all earmark requests on a single website before there’s a vote so that the American people can see how their money is being spent.

Equal pay:

We are going to crack down on violations of equal pay laws – so that women get equal pay for an equal day’s work.

Obama will also reinstate Pay-as-you-go laws for government spending.



Source: Business Pundit | 27 Jan 2010 | 8:27 pm

Stocks end higher on Fed's economic assessment (AP)

Specialists watch Treasury Secretary Timothy Geithner's testimony to a congressional panel on a televison screen on the floor of the New York Stock Exchange Wednesday, Jan. 27, 2010. Geithner drew sharp criticism from Democrats and Republicans alike Wednesday for his role in the $180-billion-plus taxpayer bailout of insurance giant American International Group. (AP Photo/Richard Drew)AP - The Federal Reserve reassured stock market investors Wednesday that the economy is improving and that interest rates will stay low.



Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 8:21 pm

Obama’s State of the Union Address: Full Text

President Obama delivered his first State of the Union address today. The full text is below:

Madame Speaker, Vice President Biden, Members of Congress, distinguished guests, and fellow Americans: Our Constitution declares that from time to time, the President shall give to Congress information about the state of our union. For two hundred and twenty years, our leaders have fulfilled this duty. They have done so during periods of prosperity and tranquility. And they have done so in the midst of war and depression; at moments of great strife and great struggle.

It’s tempting to look back on these moments and assume that our progress was inevitable – that America was always destined to succeed. But when the Union was turned back at Bull Run and the Allies first landed at Omaha Beach, victory was very much in doubt. When the market crashed on Black Tuesday and civil rights marchers were beaten on Bloody Sunday, the future was anything but certain. These were times that tested the courage of our convictions, and the strength of our union. And despite all our divisions and disagreements; our hesitations and our fears; America prevailed because we chose to move forward as one nation, and one people.

Again, we are tested. And again, we must answer history’s call.

One year ago, I took office amid two wars, an economy rocked by severe recession, a financial system on the verge of collapse, and a government deeply in debt. Experts from across the political spectrum warned that if we did not act, we might face a second depression. So we acted – immediately and aggressively. And one year later, the worst of the storm has passed.

But the devastation remains. One in ten Americans still cannot find work. Many businesses have shuttered. Home values have declined. Small towns and rural communities have been hit especially hard. For those who had already known poverty, life has become that much harder.

This recession has also compounded the burdens that America’s families have been dealing with for decades – the burden of working harder and longer for less; of being unable to save enough to retire or help kids with college.

So I know the anxieties that are out there right now. They’re not new. These struggles are the reason I ran for President. These struggles are what I’ve witnessed for years in places like Elkhart, Indiana and Galesburg, Illinois. I hear about them in the letters that I read each night. The toughest to read are those written by children – asking why they have to move from their home, or when their mom or dad will be able to go back to work.

For these Americans and so many others, change has not come fast enough. Some are frustrated; some are angry. They don’t understand why it seems like bad behavior on Wall Street is rewarded but hard work on Main Street isn’t; or why Washington has been unable or unwilling to solve any of our problems. They are tired of the partisanship and the shouting and the pettiness. They know we can’t afford it. Not now.

So we face big and difficult challenges. And what the American people hope – what they deserve – is for all of us, Democrats and Republicans, to work through our differences; to overcome the numbing weight of our politics. For while the people who sent us here have different backgrounds, different stories and different beliefs, the anxieties they face are the same. The aspirations they hold are shared. A job that pays the bills. A chance to get ahead. Most of all, the ability to give their children a better life.

You know what else they share? They share a stubborn resilience in the face of adversity. After one of the most difficult years in our history, they remain busy building cars and teaching kids; starting businesses and going back to school. They’re coaching little league and helping their neighbors. As one woman wrote me, “We are strained but hopeful, struggling but encouraged.”

It is because of this spirit – this great decency and great strength – that I have never been more hopeful about America’s future than I am tonight. Despite our hardships, our union is strong. We do not give up. We do not quit. We do not allow fear or division to break our spirit. In this new decade, it’s time the American people get a government that matches their decency; that embodies their strength.

And tonight, I’d like to talk about how together, we can deliver on that promise.

It begins with our economy.

Our most urgent task upon taking office was to shore up the same banks that helped cause this crisis. It was not easy to do. And if there’s one thing that has unified Democrats and Republicans, it’s that we all hated the bank bailout. I hated it. You hated it. It was about as popular as a root canal.

But when I ran for President, I promised I wouldn’t just do what was popular – I would do what was necessary. And if we had allowed the meltdown of the financial system, unemployment might be double what it is today. More businesses would certainly have closed. More homes would have surely been lost.

So I supported the last administration’s efforts to create the financial rescue program. And when we took the program over, we made it more transparent and accountable. As a result, the markets are now stabilized, and we have recovered most of the money we spent on the banks.

To recover the rest, I have proposed a fee on the biggest banks. I know Wall Street isn’t keen on this idea, but if these firms can afford to hand out big bonuses again, they can afford a modest fee to pay back the taxpayers who rescued them in their time of need.

As we stabilized the financial system, we also took steps to get our economy growing again, save as many jobs as possible, and help Americans who had become unemployed.

That’s why we extended or increased unemployment benefits for more than 18 million Americans; made health insurance 65 per cent cheaper for families who get their coverage through COBRA; and passed 25 different tax cuts.

Let me repeat: we cut taxes. We cut taxes for 95 per cent of working families. We cut taxes for small businesses. We cut taxes for first-time homebuyers. We cut taxes for parents trying to care for their children. We cut taxes for 8 million Americans paying for college. As a result, millions of Americans had more to spend on gas, and food, and other necessities, all of which helped businesses keep more workers. And we haven’t raised income taxes by a single dime on a single person. Not a single dime.

Because of the steps we took, there are about two million Americans working right now who would otherwise be unemployed. 200,000 work in construction and clean energy. 300,000 are teachers and other education workers. Tens of thousands are cops, firefighters, correctional officers, and first responders. And we are on track to add another one and a half million jobs to this total by the end of the year.

The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act. That’s right – the Recovery Act, also known as the Stimulus Bill. Economists on the left and the right say that this bill has helped saved jobs and avert disaster. But you don’t have to take their word for it.

Talk to the small business in Phoenix that will triple its workforce because of the Recovery Act.

Talk to the window manufacturer in Philadelphia who said he used to be skeptical about the Recovery Act, until he had to add two more work shifts just because of the business it created.

Talk to the single teacher raising two kids who was told by her principal in the last week of school that because of the Recovery Act, she wouldn’t be laid off after all.

There are stories like this all across America. And after two years of recession, the economy is growing again. Retirement funds have started to gain back some of their value. Businesses are beginning to invest again, and slowly some are starting to hire again.

But I realize that for every success story, there are other stories, of men and women who wake up with the anguish of not knowing where their next paycheck will come from; who send out resumes week after week and hear nothing in response. That is why jobs must be our number one focus in 2010, and that is why I am calling for a new jobs bill tonight.

Now, the true engine of job creation in this country will always be America’s businesses. But government can create the conditions necessary for businesses to expand and hire more workers.

We should start where most new jobs do – in small businesses, companies that begin when an entrepreneur takes a chance on a dream, or a worker decides its time she became her own boss.

Through sheer grit and determination, these companies have weathered the recession and are ready to grow. But when you talk to small business owners in places like Allentown, Pennsylvania or Elyria, Ohio, you find out that even though banks on Wall Street are lending again, they are mostly lending to bigger companies. But financing remains difficult for small business owners across the country.

So tonight, I’m proposing that we take $30-billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. I am also proposing a new small business tax credit – one that will go to over one million small businesses who hire new workers or raise wages. While we’re at it, let’s also eliminate all capital gains taxes on small business investment; and provide a tax incentive for all businesses, large and small, to invest in new plants and equipment.

Next, we can put Americans to work today building the infrastructure of tomorrow. From the first railroads to the interstate highway system, our nation has always been built to compete. There’s no reason Europe or China should have the fastest trains, or the new factories that manufacture clean energy products.

Tomorrow, I’ll visit Tampa, Florida, where workers will soon break ground on a new high-speed railroad funded by the Recovery Act. There are projects like that all across this country that will create jobs and help our nation move goods, services, and information. We should put more Americans to work building clean energy facilities, and give rebates to Americans who make their homes more energy efficient, which supports clean energy jobs. And to encourage these and other businesses to stay within our borders, it’s time to finally slash the tax breaks for companies that ship our jobs overseas and give those tax breaks to companies that create jobs in the United States of America.

The House has passed a jobs bill that includes some of these steps. As the first order of business this year, I urge the Senate to do the same. People are out of work. They are hurting. They need our help. And I want a jobs bill on my desk without delay.

But the truth is, these steps still won’t make up for the seven million jobs we’ve lost over the last two years. The only way to move to full employment is to lay a new foundation for long-term economic growth, and finally address the problems that America’s families have confronted for years.

We cannot afford another so-called economic “expansion” like the one from last decade – what some call the “lost decade” – where jobs grew more slowly than during any prior expansion; where the income of the average American household declined while the cost of health care and tuition reached record highs; where prosperity was built on a housing bubble and financial speculation.

From the day I took office, I have been told that addressing our larger challenges is too ambitious – that such efforts would be too contentious, that our political system is too gridlocked, and that we should just put things on hold for awhile.

For those who make these claims, I have one simple question: How long should we wait? How long should America put its future on hold?

You see, Washington has been telling us to wait for decades, even as the problems have grown worse. Meanwhile, China’s not waiting to revamp its economy. Germany’s not waiting. India’s not waiting. These nations aren’t standing still. These nations aren’t playing for second place. They’re putting more emphasis on math and science. They’re rebuilding their infrastructure. They are making serious investments in clean energy because they want those jobs.

Well I do not accept second-place for the United States of America. As hard as it may be, as uncomfortable and contentious as the debates may be, it’s time to get serious about fixing the problems that are hampering our growth.

One place to start is serious financial reform. Look, I am not interested in punishing banks, I’m interested in protecting our economy. A strong, healthy financial market makes it possible for businesses to access credit and create new jobs. It channels the savings of families into investments that raise incomes. But that can only happen if we guard against the same recklessness that nearly brought down our entire economy.

We need to make sure consumers and middle-class families have the information they need to make financial decisions. We can’t allow financial institutions, including those that take your deposits, to take risks that threaten the whole economy.

The House has already passed financial reform with many of these changes. And the lobbyists are already trying to kill it. Well, we cannot let them win this fight. And if the bill that ends up on my desk does not meet the test of real reform, I will send it back.

Next, we need to encourage American innovation. Last year, we made the largest investment in basic research funding in history – an investment that could lead to the world’s cheapest solar cells or treatment that kills cancer cells but leaves healthy ones untouched. And no area is more ripe for such innovation than energy. You can see the results of last year’s investment in clean energy – in the North Carolina company that will create 1200 jobs nationwide helping to make advanced batteries; or in the California business that will put 1,000 people to work making solar panels.

But to create more of these clean energy jobs, we need more production, more efficiency, more incentives. That means building a new generation of safe, clean nuclear power plants in this country. It means making tough decisions about opening new offshore areas for oil and gas development. It means continued investment in advanced biofuels and clean coal technologies. And yes, it means passing a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America.

I am grateful to the House for passing such a bill last year. This year, I am eager to help advance the bipartisan effort in the Senate. I know there have been questions about whether we can afford such changes in a tough economy; and I know that there are those who disagree with the overwhelming scientific evidence on climate change. But even if you doubt the evidence, providing incentives for energy efficiency and clean energy are the right thing to do for our future – because the nation that leads the clean energy economy will be the nation that leads the global economy. And America must be that nation.

Third, we need to export more of our goods. Because the more products we make and sell to other countries, the more jobs we support right here in America. So tonight, we set a new goal: We will double our exports over the next five years, an increase that will support two million jobs in America. To help meet this goal, we’re launching a National Export Initiative that will help farmers and small businesses increase their exports, and reform export controls consistent with national security.

We have to seek new markets aggressively, just as our competitors are. If America sits on the sidelines while other nations sign trade deals, we will lose the chance to create jobs on our shores. But realizing those benefits also means enforcing those agreements so our trading partners play by the rules. And that’s why we will continue to shape a Doha trade agreement that opens global markets, and why we will strengthen our trade relations in Asia and with key partners like South Korea, Panama, and Colombia.

Fourth, we need to invest in the skills and education of our people.

This year, we have broken through the stalemate between left and right by launching a national competition to improve our schools. The idea here is simple: instead of rewarding failure, we only reward success. Instead of funding the status quo, we only invest in reform – reform that raises student achievement, inspires students to excel in math and science, and turns around failing schools that steal the future of too many young Americans, from rural communities to inner-cities. In the 21st century, one of the best anti-poverty programs is a world-class education. In this country, the success of our children cannot depend more on where they live than their potential.

When we renew the Elementary and Secondary Education Act, we will work with Congress to expand these reforms to all fifty states. Still, in this economy, a high school diploma no longer guarantees a good job. I urge the Senate to follow the House and pass a bill that will revitalize our community colleges, which are a career pathway to the children of so many working families. To make college more affordable, this bill will finally end the unwarranted taxpayer-subsidies that go to banks for student loans. Instead, let’s take that money and give families a $10,000 tax credit for four years of college and increase Pell Grants. And let’s tell another one million students that when they graduate, they will be required to pay only ten per cent of their income on student loans, and all of their debt will be forgiven after twenty years – and forgiven after ten years if they choose a career in public service. Because in the United States of America, no one should go broke because they chose to go to college. And it’s time for colleges and universities to get serious about cutting their own costs – because they too have a responsibility to help solve this problem.

Now, the price of college tuition is just one of the burdens facing the middle-class. That’s why last year I asked Vice President Biden to chair a task force on Middle-Class Families. That’s why we’re nearly doubling the child care tax credit, and making it easier to save for retirement by giving every worker access to a retirement account and expanding the tax credit for those who start a nest egg. That’s why we’re working to lift the value of a family’s single largest investment – their home. The steps we took last year to shore up the housing market have allowed millions of Americans to take out new loans and save an average of $1,500 on mortgage payments. This year, we will step up re-financing so that homeowners can move into more affordable mortgages. And it is precisely to relieve the burden on middle-class families that we still need health insurance reform.

Now let’s be clear – I did not choose to tackle this issue to get some legislative victory under my belt. And by now it should be fairly obvious that I didn’t take on health care because it was good politics.

I took on health care because of the stories I’ve heard from Americans with pre-existing conditions whose lives depend on getting coverage; patients who’ve been denied coverage; and families – even those with insurance – who are just one illness away from financial ruin.

After nearly a century of trying, we are closer than ever to bringing more security to the lives of so many Americans. The approach we’ve taken would protect every American from the worst practices of the insurance industry. It would give small businesses and uninsured Americans a chance to choose an affordable health care plan in a competitive market. It would require every insurance plan to cover preventive care. And by the way, I want to acknowledge our First Lady, Michelle Obama, who this year is creating a national movement to tackle the epidemic of childhood obesity and make our kids healthier.

Our approach would preserve the right of Americans who have insurance to keep their doctor and their plan. It would reduce costs and premiums for millions of families and businesses. And according to the Congressional Budget Office – the independent organization that both parties have cited as the official scorekeeper for Congress – our approach would bring down the deficit by as much as $1-trillion over the next two decades.

Still, this is a complex issue, and the longer it was debated, the more skeptical people became. I take my share of the blame for not explaining it more clearly to the American people. And I know that with all the lobbying and horse-trading, this process left most Americans wondering what’s in it for them.

But I also know this problem is not going away. By the time I’m finished speaking tonight, more Americans will have lost their health insurance. Millions will lose it this year. Our deficit will grow. Premiums will go up. Patients will be denied the care they need. Small business owners will continue to drop coverage altogether. I will not walk away from these Americans, and neither should the people in this chamber.

As temperatures cool, I want everyone to take another look at the plan we’ve proposed. There’s a reason why many doctors, nurses, and health care experts who know our system best consider this approach a vast improvement over the status quo. But if anyone from either party has a better approach that will bring down premiums, bring down the deficit, cover the uninsured, strengthen Medicare for seniors, and stop insurance company abuses, let me know. Here’s what I ask of Congress, though: Do not walk away from reform. Not now. Not when we are so close. Let us find a way to come together and finish the job for the American people.

Now, even as health care reform would reduce our deficit, it’s not enough to dig us out of a massive fiscal hole in which we find ourselves. It’s a challenge that makes all others that much harder to solve, and one that’s been subject to a lot of political posturing.

So let me start the discussion of government spending by setting the record straight. At the beginning of the last decade, America had a budget surplus of over $200-billion. By the time I took office, we had a one year deficit of over $1-trillion and projected deficits of $8-trillion over the next decade. Most of this was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program. On top of that, the effects of the recession put a $3-trillion hole in our budget. That was before I walked in the door.

Now if we had taken office in ordinary times, I would have liked nothing more than to start bringing down the deficit. But we took office amid a crisis, and our efforts to prevent a second Depression have added another $1-trillion to our national debt.

I am absolutely convinced that was the right thing to do. But families across the country are tightening their belts and making tough decisions. The federal government should do the same. So tonight, I’m proposing specific steps to pay for the $1-trillion that it took to rescue the economy last year.

Starting in 2011, we are prepared to freeze government spending for three years. Spending related to our national security, Medicare, Medicaid, and Social Security will not be affected. But all other discretionary government programs will. Like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don’t. And if I have to enforce this discipline by veto, I will.

We will continue to go through the budget line by line to eliminate programs that we can’t afford and don’t work. We’ve already identified $20-billion in savings for next year. To help working families, we will extend our middle-class tax cuts. But at a time of record deficits, we will not continue tax cuts for oil companies, investment fund managers, and those making over $250,000 a year. We just can’t afford it.

Now, even after paying for what we spent on my watch, we will still face the massive deficit we had when I took office. More importantly, the cost of Medicare, Medicaid, and Social Security will continue to skyrocket. That’s why I’ve called for a bipartisan, Fiscal Commission, modeled on a proposal by Republican Judd Gregg and Democrat Kent Conrad. This can’t be one of those Washington gimmicks that lets us pretend we solved a problem. The Commission will have to provide a specific set of solutions by a certain deadline. Yesterday, the Senate blocked a bill that would have created this commission. So I will issue an executive order that will allow us to go forward, because I refuse to pass this problem on to another generation of Americans. And when the vote comes tomorrow, the Senate should restore the pay-as-you-go law that was a big reason why we had record surpluses in the 1990s.

I know that some in my own party will argue that we cannot address the deficit or freeze government spending when so many are still hurting. I agree, which is why this freeze will not take effect until next year, when the economy is stronger. But understand – if we do not take meaningful steps to rein in our debt, it could damage our markets, increase the cost of borrowing, and jeopardize our recovery – all of which could have an even worse effect on our job growth and family incomes.

From some on the right, I expect we’ll hear a different argument – that if we just make fewer investments in our people, extend tax cuts for wealthier Americans, eliminate more regulations, and maintain the status quo on health care, our deficits will go away. The problem is, that’s what we did for eight years. That’s what helped lead us into this crisis. It’s what helped lead to these deficits. And we cannot do it again.

Rather than fight the same tired battles that have dominated Washington for decades, it’s time to try something new. Let’s invest in our people without leaving them a mountain of debt. Let’s meet our responsibility to the citizens who sent us here. Let’s try common sense.

To do that, we have to recognize that we face more than a deficit of dollars right now. We face a deficit of trust – deep and corrosive doubts about how Washington works that have been growing for years. To close that credibility gap we must take action on both ends of Pennsylvania Avenue to end the outsized influence of lobbyists; to do our work openly; and to give our people the government they deserve.

That’s what I came to Washington to do. That’s why – for the first time in history – my Administration posts our White House visitors online. And that’s why we’ve excluded lobbyists from policy-making jobs or seats on federal boards and commissions.

But we can’t stop there. It’s time to require lobbyists to disclose each contact they make on behalf of a client with my Administration or Congress. And it’s time to put strict limits on the contributions that lobbyists give to candidates for federal office. Last week, the Supreme Court reversed a century of law to open the floodgates for special interests – including foreign corporations – to spend without limit in our elections. Well I don’t think American elections should be bankrolled by America’s most powerful interests, or worse, by foreign entities. They should be decided by the American people, and that’s why I’m urging Democrats and Republicans to pass a bill that helps to right this wrong.

I’m also calling on Congress to continue down the path of earmark reform. You have trimmed some of this spending and embraced some meaningful change. But restoring the public trust demands more. For example, some members of Congress post some earmark requests online. Tonight, I’m calling on Congress to publish all earmark requests on a single website before there’s a vote so that the American people can see how their money is being spent.

Of course, none of these reforms will even happen if we don’t also reform how we work with one another.

Now, I am not naïve. I never thought the mere fact of my election would usher in peace, harmony, and some post-partisan era. I knew that both parties have fed divisions that are deeply entrenched. And on some issues, there are simply philosophical differences that will always cause us to part ways. These disagreements, about the role of government in our lives, about our national priorities and our national security, have been taking place for over two hundred years. They are the very essence of our democracy.

But what frustrates the American people is a Washington where every day is Election Day. We cannot wage a perpetual campaign where the only goal is to see who can get the most embarrassing headlines about their opponent – a belief that if you lose, I win. Neither party should delay or obstruct every single bill just because they can. The confirmation of well-qualified public servants should not be held hostage to the pet projects or grudges of a few individual Senators. Washington may think that saying anything about the other side, no matter how false, is just part of the game. But it is precisely such politics that has stopped either party from helping the American people. Worse yet, it is sowing further division among our citizens and further distrust in our government.

So no, I will not give up on changing the tone of our politics. I know it’s an election year. And after last week, it is clear that campaign fever has come even earlier than usual. But we still need to govern. To Democrats, I would remind you that we still have the largest majority in decades, and the people expect us to solve some problems, not run for the hills. And if the Republican leadership is going to insist that sixty votes in the Senate are required to do any business at all in this town, then the responsibility to govern is now yours as well. Just saying no to everything may be good short-term politics, but it’s not leadership. We were sent here to serve our citizens, not our ambitions. So let’s show the American people that we can do it together. This week, I’ll be addressing a meeting of the House Republicans. And I would like to begin monthly meetings with both the Democratic and Republican leadership. I know you can’t wait.

Throughout our history, no issue has united this country more than our security. Sadly, some of the unity we felt after 9/11 has dissipated. We can argue all we want about who’s to blame for this, but I am not interested in re-litigating the past. I know that all of us love this country. All of us are committed to its defense. So let’s put aside the schoolyard taunts about who is tough. Let’s reject the false choice between protecting our people and upholding our values. Let’s leave behind the fear and division, and do what it takes to defend our nation and forge a more hopeful future – for America and the world.

That is the work we began last year. Since the day I took office, we have renewed our focus on the terrorists who threaten our nation. We have made substantial investments in our homeland security and disrupted plots that threatened to take American lives. We are filling unacceptable gaps revealed by the failed Christmas attack, with better airline security, and swifter action on our intelligence. We have prohibited torture and strengthened partnerships from the Pacific to South Asia to the Arabian Peninsula. And in the last year, hundreds of Al Qaeda’s fighters and affiliates, including many senior leaders, have been captured or killed – far more than in 2008.

In Afghanistan, we are increasing our troops and training Afghan Security Forces so they can begin to take the lead in July of 2011, and our troops can begin to come home. We will reward good governance, reduce corruption, and support the rights of all Afghans – men and women alike. We are joined by allies and partners who have increased their own commitment, and who will come together tomorrow in London to reaffirm our common purpose. There will be difficult days ahead. But I am confident we will succeed.

As we take the fight to al Qaeda, we are responsibly leaving Iraq to its people. As a candidate, I promised that I would end this war, and that is what I am doing as President. We will have all of our combat troops out of Iraq by the end of this August. We will support the Iraqi government as they hold elections, and continue to partner with the Iraqi people to promote regional peace and prosperity. But make no mistake: this war is ending, and all of our troops are coming home.

Tonight, all of our men and women in uniform – in Iraq, Afghanistan, and around the world – must know that they have our respect, our gratitude, and our full support. And just as they must have the resources they need in war, we all have a responsibility to support them when they come home. That is why we made the largest increase in investments for veterans in decades. That is why we are building a 21st century VA. And that is why Michelle has joined with Jill Biden to forge a national commitment to support military families.

Even as we prosecute two wars, we are also confronting perhaps the greatest danger to the American people – the threat of nuclear weapons. I have embraced the vision of John F. Kennedy and Ronald Reagan through a strategy that reverses the spread of these weapons, and seeks a world without them. To reduce our stockpiles and launchers, while ensuring our deterrent, the United States and Russia are completing negotiations on the farthest-reaching arms control treaty in nearly two decades. And at April’s Nuclear Security Summit, we will bring forty-four nations together behind a clear goal: securing all vulnerable nuclear materials around the world in four years, so that they never fall into the hands of terrorists.

These diplomatic efforts have also strengthened our hand in dealing with those nations that insist on violating international agreements in pursuit of these weapons. That is why North Korea now faces increased isolation, and stronger sanctions – sanctions that are being vigorously enforced. That is why the international community is more united, and the Islamic Republic of Iran is more isolated. And as Iran’s leaders continue to ignore their obligations, there should be no doubt: they, too, will face growing consequences.

That is the leadership that we are providing – engagement that advances the common security and prosperity of all people. We are working through the G-20 to sustain a lasting global recovery. We are working with Muslim communities around the world to promote science, education and innovation. We have gone from a bystander to a leader in the fight against climate change. We are helping developing countries to feed themselves, and continuing the fight against HIV/AIDS. And we are launching a new initiative that will give us the capacity to respond faster and more effectively to bio-terrorism or an infectious disease – a plan that will counter threats at home, and strengthen public health abroad.

As we have for over sixty years, America takes these actions because our destiny is connected to those beyond our shores. But we also do it because it is right. That is why, as we meet here tonight, over 10,000 Americans are working with many nations to help the people of Haiti recover and rebuild. That is why we stand with the girl who yearns to go to school in Afghanistan; we support the human rights of the women marching through the streets of Iran; and we advocate for the young man denied a job by corruption in Guinea. For America must always stand on the side of freedom and human dignity.

Abroad, America’s greatest source of strength has always been our ideals. The same is true at home. We find unity in our incredible diversity, drawing on the promise enshrined in our Constitution: the notion that we are all created equal, that no matter who you are or what you look like, if you abide by the law you should be protected by it; that if you adhere to our common values you should be treated no different than anyone else.

We must continually renew this promise. My Administration has a Civil Rights Division that is once again prosecuting civil rights violations and employment discrimination. We finally strengthened our laws to protect against crimes driven by hate. This year, I will work with Congress and our military to finally repeal the law that denies gay Americans the right to serve the country they love because of who they are. We are going to crack down on violations of equal pay laws – so that women get equal pay for an equal day’s work. And we should continue the work of fixing our broken immigration system – to secure our borders, enforce our laws, and ensure that everyone who plays by the rules can contribute to our economy and enrich our nations.

In the end, it is our ideals, our values, that built America – values that allowed us to forge a nation made up of immigrants from every corner of the globe; values that drive our citizens still. Every day, Americans meet their responsibilities to their families and their employers. Time and again, they lend a hand to their neighbors and give back to their country. They take pride in their labor, and are generous in spirit. These aren’t Republican values or Democratic values they’re living by; business values or labor values. They are American values.

Unfortunately, too many of our citizens have lost faith that our biggest institutions – our corporations, our media, and yes, our government – still reflect these same values. Each of these institutions are full of honorable men and women doing important work that helps our country prosper. But each time a CEO rewards himself for failure, or a banker puts the rest of us at risk for his own selfish gain, people’s doubts grow. Each time lobbyists game the system or politicians tear each other down instead of lifting this country up, we lose faith. The more that TV pundits reduce serious debates into silly arguments, and big issues into sound bites, our citizens turn away.

No wonder there’s so much cynicism out there.

No wonder there’s so much disappointment.

I campaigned on the promise of change – change we can believe in, the slogan went. And right now, I know there are many Americans who aren’t sure if they still believe we can change – or at least, that I can deliver it.

But remember this – I never suggested that change would be easy, or that I can do it alone. Democracy in a nation of three hundred million people can be noisy and messy and complicated. And when you try to do big things and make big changes, it stirs passions and controversy. That’s just how it is.

Those of us in public office can respond to this reality by playing it safe and avoid telling hard truths. We can do what’s necessary to keep our poll numbers high, and get through the next election instead of doing what’s best for the next generation.

But I also know this: if people had made that decision fifty years ago or one hundred years ago or two hundred years ago, we wouldn’t be here tonight. The only reason we are is because generations of Americans were unafraid to do what was hard; to do what was needed even when success was uncertain; to do what it took to keep the dream of this nation alive for their children and grandchildren.

Our administration has had some political setbacks this year, and some of them were deserved. But I wake up every day knowing that they are nothing compared to the setbacks that families all across this country have faced this year. And what keeps me going – what keeps me fighting – is that despite all these setbacks, that spirit of determination and optimism – that fundamental decency that has always been at the core of the American people – lives on.

It lives on in the struggling small business owner who wrote to me of his company, “None of us,” he said, “…are willing to consider, even slightly, that we might fail.”

It lives on in the woman who said that even though she and her neighbors have felt the pain of recession, “We are strong. We are resilient. We are American.”

It lives on in the 8-year old boy in Louisiana, who just sent me his allowance and asked if I would give it to the people of Haiti. And it lives on in all the Americans who’ve dropped everything to go some place they’ve never been and pull people they’ve never known from rubble, prompting chants of “U.S.A.! U.S.A.! U.S.A!” when another life was saved.

The spirit that has sustained this nation for more than two centuries lives on in you, its people.

We have finished a difficult year. We have come through a difficult decade. But a new year has come. A new decade stretches before us. We don’t quit. I don’t quit. Let’s seize this moment – to start anew, to carry the dream forward, and to strengthen our union once more.

Thank you. God Bless You. And God Bless the United States of America.



Source: Business Pundit | 27 Jan 2010 | 8:08 pm

iPad sends Apple stock for a ride

The debut on Wednesday of Apple's long-awaited tablet sent the company's stock on a wild ride.
Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 7:48 pm

We're sorry - Telecom boss apologises for XT blackout

Paul Reynolds, the head of Telecom, has been forced to apologise to customers after an outage on its XT network extended into a second day, sending shares down 0.7 per cent to $2.42 in trading today.The CEO of the country's largest...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 7:30 pm

Icahn proxy materials sent to Biogen Idec-source

BOSTON (Reuters) - Proxy materials have been delivered to Biogen Idec Inc by Carl Icahn, as the billionaire investor seeks greater control of the biotechnology company's board, according to a source familiar with the situation.

Source: Reuters: Business News | 27 Jan 2010 | 7:18 pm

Apple pitches $499 iPad, takes on Amazon

SAN FRANCISCO (Reuters) - Apple Inc CEO Steve Jobs took the wraps off a sleek tablet that it called the iPad, pitching the new gadget at a surprisingly low price to bridge the gap between smartphones and laptops.

Source: Reuters: Business News | 27 Jan 2010 | 7:06 pm

Councils get okay to buy airport shares

Auckland City Council and Manukau City Council have both been given authority to spend millions of dollars to take part in a capital raising by Auckland International Airport Ltd (AIA) so they can maintain their holdings in the airport.The...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 6:50 pm

R.I.P., Howard Zinn


Image: redjar/Flickr

Howard Zinn, a well-known historian and left-wing activist, passed away today at the age of 87. Partisanship aside, I always admired his fortitude as an activist and willingness to step out of political norms. NPR has more on Howard Zinn. To honor him on the night of Obama’s State of the Union, here’s a quote from one of the last essays Zinn published:

“I think people are dazzled by Obama’s rhetoric, and that people ought to begin to understand that Obama is going to be a mediocre president — which means, in our time, a dangerous president — unless there is some national movement to push him in a better direction.”



Source: Business Pundit | 27 Jan 2010 | 6:45 pm

Solution Dynamics into the black

Solution Dynamics Ltd has reported a $38,000 profit in the six months to December 31, which is its first interim profit since 2006.The NZAX-listed company reported a loss of $11,000 in the same period last year.Its areas of...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 6:15 pm

Geithner faces fresh fire over AIG deal

Democrats and Republicans joined in a rare show of bipartisanship to attack a weakened Tim Geithner, accusing the Treasury secretary of putting the interests of Wall Street ahead of taxpayers in the 2008 bail-out of AIG
Source: Financial Times - US homepage | 27 Jan 2010 | 6:03 pm

Apple's iPad - under the hood


Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 6:01 pm

Short Sellers Increase Bets Against Telecom

Short sellers made bets across the board against the telecom industry for the period that ended January 15. The short interest in Motorola (NYSE:MOT) rose 52% to 57.9 million shares. Shares short in Qwest (NYSE:Q) rose 15% to 76.1 million. The short interest in AT&T (NYSE:T) rose 14% to 64 million. Shares short in Sprint (NYSE:S) were [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 5:11 pm

Apple aims to bridge gap between laptop and smartphone by launching iPad

After all the hype, Steve Jobs, the Apple chief executive, took to a stage in San Francisco yesterday to demonstrate his latest toy. Among his disciples, the thin, sleek iPad was greeted with applause and cheers. Others were more circumspect.


Source: Latest Business News from Times Online | 27 Jan 2010 | 5:01 pm

Scientists in stolen e-mail scandal hid climate data

The university at the centre of the climate change row over stolen e-mails broke the law by refusing to hand over its raw data for public scrutiny.
Source: Latest Business News from Times Online | 27 Jan 2010 | 5:01 pm

Research leads to possible emissions breakthrough

New Zealand research on microbes in the stomachs of cows and sheep could provide a scientific breakthrough for reducing greenhouse gas emissions.The Pastoral Greenhouse Gas Research Consortium programme, led by AgResearch, has...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 5:01 pm

'The new iPad is like an iPhone on steroids'

Contrary to reports, Apple’s new tablet cannot turn water into wine. But as a piece of consumer-friendly hardware it is pretty revolutionary. Part of that — most of that — is down to the price, but we will return to that later.
Source: Latest Business News from Times Online | 27 Jan 2010 | 5:01 pm

Top 10 consumer gripes revealed

Complaints about secondhand cars bought from independent traders top a list of the most common consumer gripes.
Source: BBC News | Business | World Edition | 27 Jan 2010 | 5:01 pm

Faith in the FTSE?

Can traditional stock market indexes be trusted?
Source: BBC News | Business | World Edition | 27 Jan 2010 | 5:01 pm

As Vedanta digs in for a long haul, it’s no time to cut and run

There are few large-cap miners whose shares are as geared to commodity prices as India’s Vedanta Resources. Last year’s share price performance — a rise of 327 per cent — said as much. So, too, did yesterday’s third-quarter update.


Source: Latest Business News from Times Online | 27 Jan 2010 | 5:01 pm

Brian Fallow: Alan Bollard's photocopy OCR

This morning's interest rate decision for the Reserve Bank is almost a photocopy of the last one on December 10.There were no surprises, either
Source: nzherald.co.nz - Business | 27 Jan 2010 | 5:00 pm

Podcast: An Economist Gets Stoned

sign from health care protest

Different strains of medical marijuana at Coffeeshop Blue Sky in Oakland, California. (Justin Sullivan/Getty Images)


On today's Planet Money:

Fourteen states have adopted medical marijuana laws. We talk to Harvard economist, Jeffrey Miron, about what happens when drugs move from the black market to the open market. Do they get 100 times cheaper? Or instead, more expensive? Miron talks about the economics of prohibition, and reveals his drug of choice (which is legal) and one he would like to try (which is not).

Download the podcast; or subscribe. Music: Rick James' "Mary Jane." Find us: Twitter/ Facebook/ Flickr.

» E-Mail This     » Add to Del.icio.us


Source: NPR Blogs: Planet Money | 27 Jan 2010 | 4:39 pm

iPad: Apple tablet announced

SAN FRANCISCO - Steve Jobs has announced iPad - a tablet PC that has built massive hype over the past few months.Availability in New Zealand is not yet known, but Jobs says he hopes to have international deals in place by June.At...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 4:30 pm

Meridian gets go-ahead to develop wind farm

The country's second-biggest wind farm is to be built in the central North Island - delivering electricity to up to 50,000 homes.Meridian Energy has this week been granted permission by the Environment Court to go ahead with plans...
Source: nzherald.co.nz - Business | 27 Jan 2010 | 4:25 pm

Fed renews vow to keep rates low, with a dissent

WASHINGTON (Reuters) - The Federal Reserve on Wednesday offered a guardedly upbeat view of the U.S. economy and renewed its pledge to keep interest rates near zero despite the objection of one policy maker.

Source: Reuters: Business News | 27 Jan 2010 | 4:22 pm

Karzai to face pressure on Taliban strategy

Western governments expressed support for Afghan president’s plan to conduct reconciliation talks, but insisted that strict preconditions be set
Source: Financial Times - US homepage | 27 Jan 2010 | 4:14 pm

How the major stock indexes fared on Wednesday (AP)

AP - Stocks reversed an early slide and ended higher Wednesday after the Federal Reserve issued a more upbeat assessment of the economy. Major stock indexes were down before the Fed released its statement following a two-day meeting on interest rates, then advanced as investors digested the central bank's comments. Treasury prices also reversed direction, falling after the announcement as investors withdrew money from safe haven holdings.
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 3:41 pm

Write-Offs: 01.27.10

$$$ Matthew Goldstein reveals AIG's Schedule A, which Janet Tavakoli says "would have deeply embarrassed Goldman Sachs and Merrill," had it come out in the public domain late in 2008, obviously failing to realize that Goldman doesn't embarrass, which is an emotion of peasants. Goldman only says fuck yes, these are the facts, do we have a problem? [Reuters]

$$$ "You have to be able to answer the question, 'If you get kidnapped, who is next in line to take over from you?'" says John Rogers, a Goldman managing director and top counselor to Blankfein who has managed the firm's executive office under three CEOs. "It's a discipline." [Bloomberg]

$$$ You are unlikely to prosper. [The Big Money]

$$$ Bernanke Responds To AIG Questions [Dealbook]

$$$ Any questions? [CNBC]
mariaglasses.JPG



Add to Twitter Add to digg Email this Article

Goldman Sachs - Lloyd Blankfein - Chief executive officer - Janet Tavakoli - John Rogers
Source: Dealbreaker | 27 Jan 2010 | 3:38 pm

Qualcomm Slams Investors With New Targets (QCOM, QQQQ)

Qualcomm Inc. (NASDAQ: QCOM) is falling into the category of the stocks we wanted to avoid this earnings season.  That category is companies with mediocre or poor earnings reports after shares have risen considerably from last year’s lows.  The company was expected by most to have very strong earnings based upon the CDMA push and [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 3:36 pm

BlackRock's Tucker Likes Municipal Bond ETFs: Audio


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 3:24 pm

AK Steel Raised to `Buy' at Goldman Sachs: Audio


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 3:22 pm

State of the Union Address, Coal, U.S. Steel: Taking Stock


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 3:21 pm

Barnes & Noble, Cigna, Apple, Borders big movers (AP)

AP - The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 2:56 pm

GM: $1,000 bounty to poach Toyota owners

General Motors is offering incentives of $1,000 and low financing rates specifically for Toyota customers worried about their recalled vehicles, beginning Wednesday.
Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 2:51 pm

Swiss government confident it can save UBS tax deal

BERNE (Reuters) - The Swiss government said it was sure it could resolve a legal impasse threatening a deal struck by the U.S. and bank UBS to hand over data on clients the U.S. suspects of dodging taxes.

Source: Reuters: Business News | 27 Jan 2010 | 2:44 pm

16 sweet perks from best employers

From farmers markets to artists in residence, here are a few benefits from Best Companies that go beyond a bigger paycheck.
Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 2:36 pm

Two (or Three) SIRIUS XM Upgrades in One Day (SIRI)

SIRIUS XM Radio Inc. (NASDAQ: SIRI) is a very under-followed stock considering how the company has such a cult following, millions of subscribers, and that its market cap is close to $3 billion.  Yet the sub-$1.00 price is a huge restriction as many firms refuse to cover penny stocks or even stocks under $5.00. But  [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 2:25 pm

EBay shakeup brings $0 listing fee

EBay is about to shake up its pricing structure again, introducing an option that allows sellers to list up to 100 items for free each month if bidding starts under a buck. If the goods don't sell, eBay collects no fee.
Source: Business and financial news - CNNMoney.com | 27 Jan 2010 | 2:22 pm

iPad: Apple’s Marketing People Don’t Watch Mad TV

Note that the MadTV sketch below came before the, well, real iPad. Fast uploading without all that water bloating:



Source: Business Pundit | 27 Jan 2010 | 2:15 pm

Where the Apple iPad Fits into the Business World

It’s here! After eons of speculation, Apple’s Steve Jobs finally unveiled the iPad. Apple’s new touchscreen smartphone/laptop hybrid has a 9.7-inch screen, is half an inch thick, and weighs 1.5 lbs. It comes with WiFi, Bluetooth, and Apple’s own A4 chip.

Jobs demonstrated today that his new multi-touch toy is an appealing hybrid of functionality, convenience, and fun. But what does the iPad mean for businesspeople? What are its most convenient uses for folks in the working world? Most importantly, is it a game-changer?

We included some key details on the iPad below, including software and hardware features most useful for businesspeople. First, the nitty gritty:

Prices
16GB: $499
32GB: $599
64GB: $699
3G model: $829

All models except for the 3G ship in 2 months. The 3G ships in 3 months.

Data plans
250MB/month: $14.99/month
Unlimited: $29.99/month
(Through AT&T only.)

Software

For $9.99 a piece, you can load up your iPad with useful and fun apps. Watch the iPad video here. Highlights:

The iPad runs almost all existing iPhone apps, as well as apps customized only for the iPad. Developers, get ready for another gold rush.

iWork: The new iWork app has slides that help you move between screens and applications. This makes working more fluid and integrated–faster, potentially.

Numbers: A soft numeric keypad makes it easy to work on a spreadsheet remotely.

Email: A soft keyboard in the lower half of your screen makes it easy and fast to type an email.

Newspapers: Several major newspapers, including the New York Times, have apps for the iPad. These layouts mimic print newspapers, and look beautiful.

iBooks: The iPad shows its potential as a Kindle-killer through iBooks. Pull a book off a digital bookshelf in the iBookstore. Examine it with your fingers. Buy for $14.99. Then, read pages that look like real paper pages. Aesthetic and slick.

Games: These don’t have much to do with business, except as a stellar way to pass time during boring meetings. iPad games have overlays that let you control by touch. The iPad boasts superior graphics on a mobile platform that’s just the right size.

Brushes: If your job involves design or sketching, Brushes is a fun app. You can sketch and paint directly onto your touchscreen.

Hardware

Keyboard dock: You can plug a keyboard into the iPad’s keyboard dock. Then, you place the iPad in front of the keyboard, so it acts like a monitor. This makes the iPad as convenient and comfortable as a laptop.

Syncing: The iPad syncs with all your other devices via USB. Everything can sync at the same time (not just by application). This is good if you do a lot of work on the road.

Projector: You can connect the iPad to a projector using a cable. Again, handy if you travel a lot on the job, eg. for presentations.

Battery: 10 hours of battery life. Nice.

Chip: Designed in-house by Apple.

Service

Service, as with the iPhone, is through AT&T. You don’t need a contract. As with the iPhone, you get free use of AT&T WiFi hotspots.

All models are unlocked and use new GSM Micro SIMs.

Overall Rating for Business

The iPad isn’t designed exclusively for business. At best, I can see it fitting people in certain niches, like designers, anyone who works on the road, and anyone who likes working and reading on their commute. It’s not an iPhone, Blackberry, or laptop killer. Instead, it’s useful if you happen to be the kind of person who could use one.

A Game-Changer?

Could the iPad revolutionize the way we use computers? Yes, if everyone ends up adopting the multi-touch model. If multi-touch tablets become a form of ubiquitous computing. If schoolkids start taking tablets to class instead of books, and tablets with keyboard docks become the laptops of the future. Apple might be onto something here, a new standard that the public hasn’t yet adopted. That might be one reason for its aggressive pricing: Apple wants everyone to have an iPad.

I’ma wait this one out. I don’t see any reason to buy a Tablet right away. But I–and you–might feel differently in 6 months, if the model takes off.

Time will tell.



Source: Business Pundit | 27 Jan 2010 | 2:07 pm

iPad Announcement Takes Apple's Shares On A Wild Ride

A for sale sign

Event guests play with the new Apple iPad in San Francisco. (Justin Sullivan/Getty Images)

By Alexander Hotz

Today Apple announced its newest and much anticipated product -- the iPad tablet. Neither an iPhone or a lap top, the iPad is a something in between that Apple CEO Steve Jobs claimed will become a "revolutionary product." The iPad launch set the Internet ablaze with proponents and detractors passionately debating the device's merits and shortcomings. Why doesn't it have a camera? Why doesn't it run multiple apps? Will it be an ereader competitor? Is the price too much?

Planet Money will leave the speculation to the blogosphere and Twiterati to instead focus on Apple's share price. Apple began the day at 205.7. Half an hour into Jobs' presentation the APPL ticker plunged 2.5 percent to 200.174. An hour later Apple rebounded to 210.32 after Jobs unveiled the iPad's unexpectedly low price of $499. Since then the price has slipped but stabilized well within the green at 207.884, a .94 percent increase. The iPad is expected to ship in March. Apple's share price reached a low in January 2009 of $78.

» E-Mail This     » Add to Del.icio.us


Source: NPR Blogs: Planet Money | 27 Jan 2010 | 2:06 pm

The iPad Is Gonna Make You Rich

Ok, we're taking a break from the whole AIG and Davos insanity. Let's move on to more joyous news- the iPad! It will change the world and rescue the economy! It will bailout banks! It will explain to Timmy G. what AIG is! While many people speculated on its name being the iTablet, the iSlate, Apple settled on a tampon-sounding moniker for whatever reason. The iPad has a 9.7-inch screen, is half an inch thick and weighs 1.5 pounds, maybe to appeal to female demographics? Reactions across the Web went from "this is the Second coming" to why on earth would I pay $500 for a bigger iPhone?

Thoughts? Also:



Add to Twitter Add to digg Email this Article

Apple - IPhone - Handhelds - Smartphones - Davos
Source: Dealbreaker | 27 Jan 2010 | 1:55 pm

Apple iPad Linkfest (AAPL)

The much anticipated Apple (NASDAQ: AAPL) tablet has finally debuted under the name “iPad.”  It will sell for as little as $499, making it available to potentially huge market.  Despite Apple’s secrecy concerning the device, most every prediction made about the devices features proved to be dead on.  Here is some good coverage of the [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 1:09 pm

Valero Finally Worth a Look (VLO, COP)

The refining industry has been under pressure for some time.  It seems that rising prices were not a shoe-in for windfall profits at all.  A rapid drop in oil prices was also not a recipe for windfall profits in refining.  Valero Energy Corp. (NYSE: VLO) has been one of those energy patch companies which has [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 1:04 pm

BlackRock profits soar on new fund inflows

BlackRock, the world’s largest asset manager with $3,350bn under management, reported a sharp jump in fourth-quarter income but signalled it might face a more difficult year ahead
Source: Financial Times - US homepage | 27 Jan 2010 | 12:59 pm

Twitter works on technology to evade censors

The internet social network is developing technology that it hopes will prevent governments being able to censor its users
Source: Financial Times - US homepage | 27 Jan 2010 | 12:32 pm

SEC tightens rules for money funds (AP)

AP - Federal regulators on Wednesday tightened rules for money-market mutual funds to require them to hold some assets that could be easily converted to cash and to disclose new information on fund values.
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 12:30 pm

FOMC: Free Money Policy Remains… 1 Dissenting Vote

The Federal Open Market Committee has just kept rates steady at the ongoing 0.00% to 0.25% rate target.  The vote today was 9-1 rather than unanimous, with KC’s Hoenig being the dissenting vote.  The FOMC’s outlook and stance is a bit more upbeat than in the past meetings, but the stance that fed funds will [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 12:29 pm

The Apple iPad


Video of Steve Jobs Introducing The New Apple iPad

The Apple iPad. This company seems to have a knack for unveiling amazing products. And Wired magazine is already speculating that the iPad is Apple’s latest trick for branding the younguns (and changing their lives at the same time).

The iPad will come in several different configurations. There will be 16GB, 32GB and 64GB versions. And for each of those there will be a WiFi only model and a Cellular 3G + WiFi model. Costs range from $499 to $829 though we guess that you’ll get a discount on the price if you sign up for a 2 year contract. Given that this is literally a notebook computer without a keyboard (you can buy an attachment keyboard accessory), we think those prices are pretty aggressive for Apple. In fact, we were thinking pricing would start closer to the $899 range.

Like every new product, time will tell. Apple’s iPad certainly has an advantage over most new products. Massive hype. iPod name recognition. Top flight brand. But even Apple has launched some duds as of late. So we will see.

What do you think?



Source: Business Pundit | 27 Jan 2010 | 12:21 pm

A look at global economic developments (AP)

AP - A look at economic developments and activity in major stock markets around the world Wednesday:
Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 12:11 pm

Nouriel Roubini Knows Nouriel Roubini Predicted The Crisis

nourielroubini.jpgTo answer the question posed by a commenter today re: when will Roubini start talking in the third person, here's Dr. Doom's latest Facebook update:

The undisputed ringer in Davos when it comes to the economy these days is Nouriel Roubini, the New York University Stern School of Business professor who these days is able to market his pessimistic prognostications as chairman of Roubini Global Economics. He predicted the global financial crisis and so enters the room wearing the equivalent of a heavyweight boxing belt. He is always clearly the man to beat at the table.


Add to Twitter Add to digg Email this Article

Nouriel Roubini - New York University Stern School of Business - Economic - Facebook - Professor
Source: Dealbreaker | 27 Jan 2010 | 12:11 pm

Infineon chairman-elect agrees to go early

German chipmaker’s chairman-designate says he will only serve one year of his five-year term if elected
Source: Financial Times - US homepage | 27 Jan 2010 | 12:05 pm

Barofksy: FYI, French Would've Negotiated With AIG

neilbarofsky.jpgSIGTARP Neil Barofsky- who is testifying later today- is adding oil to the AIG fire, saying in prepared remarks that French regulators were actually willing to negotiate AIG's obligations after all. The claim further undercuts the argument the Fed has been using all along, namely that they didn't push domestic counterparties to take haircuts as foreign regulators were unwilling and/or legally barred from taking discounts.



Add to Twitter Add to digg Email this Article

American International Group - AIG - Federal Reserve Bank of New York - Business - Federal Reserve System
Source: Dealbreaker | 27 Jan 2010 | 11:40 am

J.C. Penny Reaction To 24/7 Wall St Store Closing Lists

J.C. Penney (NYSE:JCP) sent 24/7 Wall St. a reaction to the 2010 Major Store Closing List: Mr. McIntyre… After reading the 24/7 Wall Street “2010 Major Retailer Store Closing List” entry from Jan. 19, we were concerned that casual readers might come away with the impression that JCPenney and the other named retailers actually plan to close [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 11:38 am

What Do You Want President Obama To Say About The Economy Tonight?

By Caitlin Kenney

As President Obama gears up for his State of the Union tonight, speculation is growing about exactly what he'll say about jobs and the economy. This morning White House Press Secretary Robert Gibbs told CBS's "The Early Show, " to expect two-thirds of the speech to be devoted to economic issues, such as tax credits for small businesses.

Specifically the WSJ says Mr. Obama "will call for eliminating capital-gains taxes on investments in small businesses" and will "call for extending bigger tax breaks to those that purchase new facilities and equipment."

In a recent poll conducted by NPR, 46 percent of you said the economy and jobs are the issue you want the president and Congress to be paying attention to right now. So what do you want to hear tonight?

» E-Mail This     » Add to Del.icio.us


Source: NPR Blogs: Planet Money | 27 Jan 2010 | 11:27 am

Live-Blog Part II: Paulson In The House

hankpaulsonheadphones.jpg12:40 Hank, whose rosacea is flaring up like nobody's business, has arrived to put Geithner out of his misery.

12:41 He's happy be to be here and answer your questions, but just so you know, he's got limited knowledge of the topics and not a lot of time, so let's move this shit along. Seriously, nature walk at 1:45. The birds wait for no one.

12:53 Paulson: "All money printed is green." Also the lead track on his new album. Not a coincidence.

1:00 Hank is not going to second guess the opinions of people, for instance, Tim Geithner. So piss off.

1:15 I love you Elijiah Cummings but why????????? Why do we have to keep talking about those mo-fucking AIG bonuses??

1:20 Interrupted by the iPad. Oh, Mock-Turtleneck is gonna pay for this.



Add to Twitter Add to digg Email this Article

Business - Knowledge Management - Ask an Expert - For a Fee - new-business
Source: Dealbreaker | 27 Jan 2010 | 10:40 am

Money Never Sleeps Thespian Did Not Take The CFA In December

shia labeouf helmet.jpgSo I don't normally feel the need to highlight the sections in my posts where I'm very clearly joking but since it seems that one in particular has been difficult for the naked eye to detect...



Add to Twitter Add to digg Email this Article

Goldman Sachs - Investment Banks - Shia LaBeouf - Business - Investment
Source: Dealbreaker | 27 Jan 2010 | 10:35 am

Presented By:


Source: Dealbreaker | 27 Jan 2010 | 10:30 am

Ex-Wife Of David Slaine Is Weary And Wet

Picture 102.pngA couple weeks back, the Wall Street Journal printed a story naming trader David Slaine as a key cooperating source in the Galleon insider trading case, having allegedly ratted out several of his friends and co-workers, including nightclub bouncer-cum-hedge fund employee, Craig Drimal. The article also claimed that during his long career on Wall Street, Slaine smashed a keyboard to pieces, started a fistfight over a colleague who wouldn't share his French fries, and punched his Galleon boss, Gary Rosenbach in the face, while the two were stark-naked in an Equinox steam room. We wrote about it, mostly out of empathy for the fries situation (that's something to legitimately get upset about) and a commenter by the name of "Elyse" came along and said that basically everything in the Journal's story was untrue, but especially the bit with the fries (never happened, she said), and the steam room (where, according to E, David didn't punch Rosenbach but rather slapped him, which is different). "Elyse" then emailed us (she hadn't appreciated our tone) to say say that she was Elyse Slaine, the ex-wife of Big D (who she met in 1992, when he was working for Morgan Stanley and she was selling financial technology for Knight Ridder), and to reiterate that the Journal doesn't know shit. Last Friday, the Observer sat down with ES to find out why.

First off, she didn't do this for the fame, or the glory.

"I feel," Elyse Slaine said over a nine-dollar cup of coffee at the Pierre Hotel last Friday, "like someone has to tell the truth." The 46-year-old was wearing studded Louboutin boots, a ruby ring on her right hand and a Harry Winston diamond watch on the other.

Someone need to set the record straight! And event though her ex-husband told her not to, Elyse knew that someone was she.

[David Slaine] hasn't endorsed [the crusade]. "I'm defending him because he's a good guy," she said. "He doesn't want me to." Mr. Slaine, who, The Journal said, has pleaded guilty to conspiracy and securities-fraud charges, and cooperated with the government to gain favor, did not return calls.

In spite of the fact that he once ruined one of their date-nights.

His marriage began to end four years ago. "My interests became a little more diverse. I like to travel," Ms. Slaine said. "I enjoy theater. David, the one time we went, fell asleep. It was Bring in 'da Noise, Bring in 'da Funk."

Because Elyse, too, knows what it's like to be standing in the middle of the crisis, to feel like you're drowning, with no one to throw you a life saver.

Earlier this month, Ms. Slaine returned to her Park Avenue apartment, the co-op she used to share with Mr. Slaine, to find massive flooding. A bathroom pipe had burst. "My own personal tsunami," she sighed.



Add to Twitter Add to digg Email this Article

Hedge fund - Wall Street - Wall Street Journal - Insider trading - Morgan Stanley
Source: Dealbreaker | 27 Jan 2010 | 10:30 am

Unionizing jobs that can't be contracted

Unions like the Teamsters and the United Auto Workers have been shrinking for decades. But last year, union membership actually grew thanks to a push to organize jobs that can't go anywhere. Alisa Roth reports.
Source: Marketplace | 27 Jan 2010 | 10:21 am

Prepare for the age of the Splinternet

New products like Apple's iPad are changing the Internet in fundamental ways. Author Josh Bernoff talks with Kai Ryssdal about how the golden age of the Internet is over, and how the Web is shattering into pieces.
Source: Marketplace | 27 Jan 2010 | 10:21 am

A new political party: Mad as hell

Democrats and Republicans will be listening closely to President Obama's State of the Union address for things they can support or slam in the days to come. Commentator Robert Reich says there's one more group Obama will be addressing, too.
Source: Marketplace | 27 Jan 2010 | 10:20 am

Davos opens up about the new normal

The Carlyle Group co-founder David Rubenstein talks with Kai Ryssdal about what people are really talking about at the Davos summit -- in the discussion groups and the hallways.
Source: Marketplace | 27 Jan 2010 | 10:20 am

SEC sets new climate disclosure rules

The Securities and Exchange Commission has voted to force companies to disclose more information on the bottom line risks they might face from climate change. Sarah Gardner reports.
Source: Marketplace | 27 Jan 2010 | 10:20 am

The impact of Toyota's sales halt

Toyota is temporarily slamming the breaks on making and selling some of its most popular vehicles. John Dimsdale reports on the consequences this might have on the automaker.
Source: Marketplace | 27 Jan 2010 | 10:20 am

Geithner, Paulson defend AIG actions

Treasury Secretary Timothy Geithner and his predecessor Henry Paulson were grilled by Congress about what happened with the AIG back in September 2008. Jeremy Hobson reports.
Source: Marketplace | 27 Jan 2010 | 10:20 am

Fear And Loathing In Davos

Everybody's pissed off at everybody at the World Economic Forum. It's not the love fest it used to be. Not even humanity-lover Bono is showing up this year.

Here's a roundup:

Barclays President Robert Diamond would like to point out that everyone at the bank is "immensely proud" that the bank didn't take any direct money from any government anywhere in the world. A word of acknowledgment would be much appreciated, thank you.

"I think that what goes unnoticed is that the banks which stayed strong and were well managed through this are angry at the banks (that) had poor management (and) were allowed to have poor management and ineffective regulations," Diamond said.



Add to Twitter Add to digg Email this Article

World Economic Forum - Government - Business - Financial services - Robert Diamond
Source: Dealbreaker | 27 Jan 2010 | 9:47 am

The 10 Best Places to Follow Today’s Apple Event Live

At 10am PST, Steve Jobs or Phil Schiller will unveil the iPad (iTouch? iTablet? iSlate?), the much-anticipated new Apple tablet computer, in San Francisco. If you need up-to-the-minute coverage on Apple’s new touch creation, tune in to one of the websites below. (Apple won’t be broadcasting an official video.)

Gizmodo’s Apple Tablet Event Liveblog
Aside from a second-by-second liveblog, Gizmodo says the following: We’ll have our usual pre-game countdown, with observations of the line, celebrity look-a-like sightings, angry rants about how cold it’s going to be in SF, and photos of what people are wearing. Us? A tasteful Target and Walmart ensemble, naturally.

Engadget’s Live Coverage of Apple’s “Latest Creation”
If you know what’s best for you, you’ll tune in for our minute-by-minute, live coverage of the event. There won’t be a better seat in the house… well, except for wherever Steve Jobs is sitting.

Macworld’s Live Update: Apple Event
Jason Snell, Dan Moren, Jonathan Seff and the rest of the Macworld team will be on hand Wednesday as Apple hosts an an invitation-only event in San Francisco to introduce its “latest creation.”

gdgt’s Live Apple “Come See Our Latest Creation” Event
Blogger Ryan Blog has this to say at 11am EST: I know, the suspense is killing me, too.

Wired’s Live Coverage: Apple’s Special Tablet Event
Could (the Apple Tablet) save the publishing industry, reboot education and maybe even change the way we treat medicine? After years of speculation, we’ll finally get some answers. (Brian X. Chen) will live-blog Wednesday’s event right here, so bookmark this page. Wired magazine editor Mark McClusky and GameLife editor Chris Kohler will contribute commentary on the event, with photography by Jon Snyder. The keynote, which takes place at San Francisco’s Yerba Buena Center, kicks off 10 a.m. Pacific. Stay tuned and look for updates to this post, or follow @bxchen and @gadgetlab for real-time news nuggets via Twitter.

ZDNet’s Live Coverage of Apple Tablet Event
It’s “T-Day” for Apple as the company is set to announce the long awaited Apple Tablet. I’ll be blogging about the event as it happens, adding new comments at the top so all you have to do is to hit refresh to read the latest revelations and analysis. After the event I’ll reverse the order so you can read it from top to bottom.

CrunchGear’s Live from the Apple Announcement
This is where all of our live content for today’s Apple event will live. To make things perfectly clear, Apple won’t let us film inside the event. However, CrunchGear and a special surprise guest will offer a full play by play. Feel free to turn on your headphones at work and listen to the news as it happens or watch us live complete with coverage from San Francisco before and after the event.

TheAppleBlog’s Live Coverage of Apple’s “Latest Creation” Media Event
This is the fastest way to get updates and the most interactive. In addition to our own updates (with text and photos), you can send in a comment/thought/observation and if we feel it’s relevant, we’ll post it for the thousands of others reading the updates. Our coverage will start around an hour before the event begins.

NBC Bay Area’s Live Coverage of the Apple Tablet Event
NBC Bay Area’s Scott Budman will be covering the event live on Twitter and with Qik video here.

AppleInsider’s Apple’s “Latest Creation” Live Event Coverage
AppleInsider will be on hand at San Francisco’s Yerba Buena Center for the Arts on Wednesday, January 27th to provide live coverage of Apple’s much-anticipated tablet introduction. Bookmark this page now and return in the hours leading up to the 10:00 am PT (1:00 pm ET) event.



Source: Business Pundit | 27 Jan 2010 | 9:40 am

New US home sales slide in December

Sales of new homes in the US unexpectedly dropped in December, the latest sign that government support is causing swings in the performance of the housing market
Source: Financial Times - US homepage | 27 Jan 2010 | 9:33 am

Frank says Obama bank plan could be law within months

Barney Frank, chairman of the House of Representatives finance services committee, says ambitious proposals from President Barack Obama to shrink Wall Street’s largest banks could be law within months
Source: Financial Times - US homepage | 27 Jan 2010 | 9:03 am

Stuart Saft Discusses Commercial Real Estate Law (Correct)


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 9:01 am

7 Functional Features You Need on Your Business Website

www

This is a guest post by Michelle Strassburg, co-founder of the company Wood and Beyond.

Is you business website attractive? If so, congratulations, you’re halfway there. In today’s hypercompetitive environment, looks alone won’t cut it on the Web. Functionality–the ability to share content, be available in real time, generate leads, and more–is key in a Web 2.0 world. Here are seven functional features you’ll need on your website to both serve existing clients and win new business.

1. Sharing Your Content and URL

Your business website has to offer an easy way to share content, products and its url with others. The days of coding a script to provide ’send to’ functionality are long gone. Simply embed one of the sharing services into your pages, for example addthis, and give users an easy way to share your website with others.

2. Share Your Availability

If your website goal is to sell your services, for example you might be a freelancer or a consultant, let users know your availability. One option is to simply add a message such as ‘hire me now’ or you can embed a Google Calendar in a dedicated page.

3. Accept Online Booking

Allowing users to book your services online is easy for you and for them. Booking your services does not always imply a paid service, it could also imply a free 15 minute consultation service. You can create a very simply booking form using Google Docs and embed it on a dedicated page.

4. Accept Online Payments

For businesses selling a product it goes without saying that the key is to take payments, a feature which comes with any shopping cart software. However, businesses that offer a service could also accept payments online even if their CMS does not support payments. Services such as e-junkie will allow you to create a shopping cart widget to embed across your pages. A ‘product’ within the widget in this case could be ‘30 min consultation’, ‘program review’ etc.

5. Use Lead Generation

For many users the booking or buying process will start with research and in many cases it’s in your interest to talk with the user so you can deal with objections, answer questions etc. If your CMS allows you to create forms great, otherwise consider using a service such as wufoo to create a lead generation form.

6. Allow Contact Us

Beyond the standard email and telephone options, offer ways to allow users to communicate with you via Skype, Twitter and even consider using an online chat functionality. There are plenty available, some are paid and some are free.

7. Offer Newsletter Subscription

These are fantastic to keep in touch with users, customers and suppliers and to especially communicate promotions, offers and new services. Most CMS I know don’t come with a newsletter functionality. Luckily, there are plenty of 3rd party newsletter services. Some, like MailChimp, even offer free plans.

- – -

This guest post was written by Michelle Strassburg, Co-Founder at Wood and Beyond, sellers of engineered hardwood and oak worktops. Michelle has over 10 years experience managing online marketing and is an active blogger.



Source: Business Pundit | 27 Jan 2010 | 8:52 am

Roubini: Break Up The Banks

Picture 98.pngAlso, Dr. Doom has a packed schedule in Davos, per his Facebook updates:

"I had already two long bloomberg interviews, a three hour private brainstorming session on how to redesign the world, a forbes interview, a French TV interview. Now headed to the opening reception to rub elbows and schmooze. Then two high profile private dinners discussing the world over fine food n finer wines followed by late night caps n piano bar at europe hotel..."


Add to Twitter Add to digg Email this Article

Facebook - Piano - French language - Davos - Television
Source: Dealbreaker | 27 Jan 2010 | 8:45 am

Fewer New Homes Sold In December

A for sale sign

A home for sale in Wisconsin. (najjie/Flickr)

By Caitlin Kenney

Sales of new homes unexpectedly fell by 7.6 percent in December compared to a month earlier. The Commerce Department said just 342,000 new homes were sold, the fewest since March. Economists had expected sales to increase slightly in December.

Builders continue to cut back on building new homes but their slow down hasn't been enough to keep pace with the decline in sales. At the current sales pace, the Commerce Department estimates it will take 8.1 months to sell off all the homes on the market.

» E-Mail This     » Add to Del.icio.us


Source: NPR Blogs: Planet Money | 27 Jan 2010 | 8:37 am

Berkshire surges after being chosen for S&P 500 (Reuters)

Billionaire investor Warren Buffett laughs as he appears with Microsoft Corporation founder Bill Gates for a town hall style meeting with business students broadcast by financial television network CNBC at Columbia University in New York, November 12, 2009. REUTERS/Mike SegarReuters - Shares of Berkshire Hathaway Inc (BRKa.N)(BRKb.N) surged on Wednesday after Standard & Poor's said it will add the company run by billionaire Warren Buffett to its S&P 500 stock index (.SPX).



Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 8:30 am

NYU's Roubini: Bloomberg On the Economy With Tom Keene


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 8:23 am

Robert Shiller: Surveillance With Prewitt and Keene


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 8:19 am

Toyota to Stop Building & Selling 8 Models in US Market

After issuing recalls since late last year, Toyota has decided to stop building and selling eight of its models in the US market. The Camry, Corolla, Avalon, Matrix, RAV4, Tundra, Highlander, and Sequioa are affected. The company will resume sales and manufacturing after it figures out why accelerators have been sticking. The Dallas Morning News has more:

It took the unusual step five days after announcing a recall of 2.3 million vehicles for what it described as a “rare” condition in which the pedal can stick and cause a vehicle to speed up unintentionally.

“Toyota had a bulletproof reputation for quality, and now it’s been tarnished,” said Jim Hossack, an industry analyst at AutoPacific Inc. “It’s a dramatic move, and an expensive move.”

Halting sales and production of some of Toyota’s best-selling U.S. models may mean hundreds of millions of dollars in lost revenue…It has the potential to further damage a reputation that has been taking a beating from the latest recall and from a November recall of 4.2 million vehicles, the largest in Toyota’s history.

(D)ealers can still sell models built in Japan – including some versions of the popular Camry and Corolla sedans. The models affected accounted for more than 1 million sales in 2009, 57 percent of Toyota’s total for the year.

Toyota is risking millions of dollars in sales in order to stop a dangerous problem for recurring. This sends the right message. Although Toyota’s reputation has been sullied since the recalls started taking place, the company is sending a message that it cares more about safety than income. That’s the right message to send, especially for a company whose customers bank on safety. It’s be harder to make the blanket statement that “Toyotas are unsafe” or “Toyotas suck” after this kind of drastic action.

I bet that in the long run, this move will have been worth the risk.



Source: Business Pundit | 27 Jan 2010 | 8:18 am

Yale’s Levin: Surveillance With Prewitt and Keene


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 8:17 am

HSBC’s King: Surveillance With Prewitt and Keene


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 8:16 am

Jacob Frenkel: Surveillance With Prewitt and Keene


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 8:14 am

New Home Sales Heading Wrong Way (XHB, ITB)

New home sales in December went back the wrong way, which was largely expected considering the data we had already seen from the housing sector in the last week.  The problem is that the drop in new home sales was far more than what was expected.  The December new home sales data from the Commerce [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 8:13 am

David Rubenstein: Surveillance With Prewitt and Keene


Source: Bloomberg - All Podcasts | 27 Jan 2010 | 8:12 am

Some Miracle SPAC Deals Succeed, Some in De-Listing Danger (NLX, CIO, ARR, BPW, TLB, UEI)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  There have been key developments in Overture Acquisition Co. (AMEX: NLX), Asia Special Situation Acquisition Co. (AMEX: CIO), ARMOUR Residential REIT Inc. (ARR), BPW Acquisition Co. (AMEX: BPW), The Talbots Inc. [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 7:32 am

Is There Hope For Haiti?

By Chana Joffe-Walt

So clearly things in Haiti are totally sucky at the moment. There's really no other way to look at it. That said, Adam and I have been wading through all these relatively hopeful economics papers about Haiti written just a few months ago.

Take this one from Paul Collier arguing that Haiti's "fundamentals favor economic development." Sure, it was written 12 months ago but many of those fundamentals are still in place. Collier argues that compared to many other "fragile states" Haiti's got a lot going for it. Such as:

-the neighbors are peaceful and relatively prosperous. You can't say that about most poor African and Asian counties

-Among the neighbors are the US and Canada, both eager to prove they can actually help Haiti succeed.

-Haitians living in the diaspora want to see Haiti succeed. And they are expert at lobbying for Haitian interests and sending money home

-Speaking of successful lobbying (and America's interest in Haitian success), Haitian exports now enter the American market duty-free and quota-free. That's thanks to this agreement.

-Haitian labor is cheap and competitive with China

-That incredible market access and cheap labor means Haiti may now be the world's best place to make garments! (if you ignore the fact that the port was just destroyed and there's no reliable electricity)

OK there a lot of "if you ignores" to add to that list ("if you ignore the giant earthquake") BUT there was a was a hopeful plan just a few months ago. And not everything in that plan was just wiped out.

» E-Mail This     » Add to Del.icio.us


Source: NPR Blogs: Planet Money | 27 Jan 2010 | 7:16 am

Top Day Trader Alerts (HGSI, BRK-B, SIFY, SANM, TM)

These are this Wednesday’s top day trader and active trader alerts.  We have more details and analysis with a link to each full story over at VSInvestor.com: Human Genome Sciences (NASDAQ: HGSI) is trading up 2.6% on a positive brokerage initiation. Berkshire Hathaway inc. (NYSE: BRK-B) is up 8% on the S&P 500 inclusion. Sify Technologies Limited (NASDAQ: [...]

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]



Source: 24/7 Wall St. | 27 Jan 2010 | 7:08 am

FTSE 100 falls lower in early trade (AFP)

London shares fell in late morning trade, one day after official data revealed that the economy had limped out of recession during the fourth quarter of 2009.(AFP/File/Shaun Curry)AFP - Leading shares fell in late morning trade on Wednesday, one day after official data revealed that the economy had limped out of recession during the fourth quarter of 2009.



Source: Yahoo! News: Stock Markets News | 27 Jan 2010 | 4:57 am

So True…

qq



Source: Business Pundit | 27 Jan 2010 | 4:38 am