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Economic Report: Euro-zone economy barely rises in fourth quarterThe euro zone barely expanded during the fourth quarter, data released Friday showed, with a French car scrappage program the main driver behind the paltry 0.1% expansion during the period.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 3:34 am German economic recovery faltersGermany's recovery faltered in the final quarter of 2009, while eurozone growth was weak, preliminary figures indicate.Source: BBC News | Business | World Edition | 12 Feb 2010 | 3:33 am Report blames Eurostar for not winterizing trains (AP)
Source: Yahoo! News: Business News | 12 Feb 2010 | 3:33 am Eurozone economic recovery falters in Q4 (AP)
Source: Yahoo! News: Business News | 12 Feb 2010 | 3:31 am Swedish defense group Saab earns $43 million in Q4 (AP)AP - Swedish aerospace and defense group Saab on Friday reported a fourth-quarter net profit of 313 million kronor ($43 million), helped by lower costs. The profit reversed losses from the same quarter last year, when earnings were heavily weighed down by one-time charges.Source: Yahoo! News: Business News | 12 Feb 2010 | 3:27 am Eurostar snow delays criticisedA report into the severe disruption of Eurostar services before Christmas criticises the company's handling of the crisis.Source: BBC News | Business | World Edition | 12 Feb 2010 | 3:22 am Stamp duty change prompts rushA rush to beat the end of the stamp-duty concession saw a big rise in house loans in December, mortgage lenders say.Source: BBC News | Business | World Edition | 12 Feb 2010 | 3:22 am India industrial output posts best growth in 20 yearsIndia's industrial output climbed at its strongest pace in almost 20 years in December, official data showed Friday, as economic recovery picked up steam thanks to hefty stimulus measures.Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 3:18 am Nintendo Leads Large Drop In January Video Game SalesThe Nintendo Wii is such a large percentage of total video game consoles sales that any drop in its numbers signficantly affects overall industry figures. Wii sales in January were 30% lower than in the same month last year, according to research firm NPD Group. Wii unit US sales dropped fell 36% to 465,800. Sales of rivals Microsoft (MSDT) [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Feb 2010 | 3:18 am Eurozone economic recovery falters in 4QOfficial figures show that the 16 countries that use the euro barely grew in the last three months of 2009, a further sign that the single currency bloc's recovery from recession is being...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 3:14 am Eurozone economic recovery falters in Q4Official figures show that the 16 countries that use the euro barely grew in the last three months of 2009, a further sign that the single currency bloc's recovery from recession is being...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 3:01 am Report blames Eurostar for not winterizing trainsAn independent review says Eurostar must protect its electronic gear better from melting snow and must improve its communications system to avoid debacles like the one in December that...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 3:01 am Obama Economists Expect 8.2% Unemployment In 2012The new “Economic Report of the President” prepared by the Council of Economic Advisers shows that The White House has a more grim picture of the unemployment situation than may be evident from its comments about rapidly rebuilding the US economy. The reports projects that unemployment will be 8.2% in 2012 and will not drop below [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Feb 2010 | 2:59 am Cities aren't hitting panic button -- yetCities and other municipalities are in a world of budgetary hurt. Is a wave of bankruptcies on the way?Source: Business and financial news - CNNMoney.com | 12 Feb 2010 | 2:58 am EU stance on Greece brings relative calm09:20 GMT. A less febrile mood than of late descended upon global markets on Friday as investors continued to absorb the implications of the European Union's promise to stand by Greece in its time of fiscal...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 2:55 am London Markets: Miners, oil and gas firms help lift British sharesBritish stocks advance on Friday, the fifth straight day of gains for the index. Greece fears take a back seat.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 2:54 am Futures point to lower start on Wall Street (Reuters)
Source: Yahoo! News: Stock Markets News | 12 Feb 2010 | 2:53 am Futures point to lower start on Wall Street(Reuters) - Stock index futures pointed to a mostly lower open for U.S. shares on Friday, following strong gains in the previous session, as a pledge by European leaders to support Greece eased worries about a crisis in the euro zone.
Source: Reuters: Business News | 12 Feb 2010 | 2:53 am Toyota to expand disclosure amid pressure on CEO (AP)
Source: Yahoo! News: Business News | 12 Feb 2010 | 2:52 am The Olympics' quirkiest sponsorsOlympic sponsorships don't have to cost millions. Meet 5 small companies with oddball official deals.Source: Business and financial news - CNNMoney.com | 12 Feb 2010 | 2:50 am Japan, China stocks lead Asia markets higherAsian equity markets end mostly higher Friday after a strong finish on Wall Street, with resource sector stocks in China, Japan and Australia lifted by a rise in commodity prices overnight.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 2:49 am Falklands oil prospects raise Argentina-Britain tensions (AFP)
Source: Yahoo! News: Business News | 12 Feb 2010 | 2:43 am Sprint is better than you thinkSprint Nextel has been maligned in the past for poor customer service and network quality, but new evidence shows that the nation's No. 3 wireless company's improvement efforts are starting to succeed.Source: Business and financial news - CNNMoney.com | 12 Feb 2010 | 2:43 am Euro saunters lower on Greece debt worriesThe euro drifted lower Friday after vague promises of support for Greece by the EU left markets worried about the common currency. The euro bought $1.3614 in midmorning trading compared...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 2:37 am Euro saunters lower on Greece debt worries (AP)AP - The euro drifted lower Friday after vague promises of support for Greece by the EU left markets worried about the common currency.Source: Yahoo! News: Business News | 12 Feb 2010 | 2:37 am Jobs bill advances ... or does it?The Senate's slow-moving effort to spur job creation was thrown into turmoil Thursday.Source: Business and financial news - CNNMoney.com | 12 Feb 2010 | 2:29 am Annual mobile event has cast to be blockbusterWhile Mobile World Congress, the wireless telecoms industry’s largest annual gathering, flopped at the box office in 2009, as attendance sagged along with the fortunes of the recession-hit sector, the 2010 sequel has the potential to be a blockbuster.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 2:29 am ThyssenKrupp beats expectations, but remains waryGerman steel maker reports a 2% drop in fiscal first-quarter profit, but still comfortably beats market expectations.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 2:27 am UBS suffers as rich clients deffect to rivalsUBS and Credit Suisse may be neighbors in Zurich, but the Swiss banks have taken a very different path through the financial crisis and nothing has illustrated that more clearly than their ability to attract the world’s richest private banking clients.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 2:25 am Should you buy Buffett's Baby Berkshires?To borrow a tag line from one of Warren Buffett's most well-known companies, buying Berkshire Hathaway is now so easy, even a caveman can do it.Source: Business and financial news - CNNMoney.com | 12 Feb 2010 | 2:22 am Savers: it's time to fightbackSavers have been given a rough deal, plunging many, who can least afford it, into penury. Emma Simon reports on a campaign aimed at providing them with a better futureSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Feb 2010 | 2:21 am New Notts owner as Eriksson exitsSven-Goran Eriksson resigns at Notts County following the club's takeover by former Lincoln City chairman Ray Trew.Source: BBC News | Business | World Edition | 12 Feb 2010 | 2:16 am ThyssenKrupp Q1 profit dips, beats expectationsGerman steelmaker ThyssenKrupp AG said Friday that net profit in the September-December period dipped 2.4 percent from a year earlier, as a drop in sales prices offset a rise in shipped...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 2:12 am ThyssenKrupp Q1 profit dips, beats expectations (AP)AP - German steelmaker ThyssenKrupp AG said Friday that net profit in the September-December period dipped 2.4 percent from a year earlier, as a drop in sales prices offset a rise in shipped volumes, but forecast that demand would continue to improve this year.Source: Yahoo! News: Business News | 12 Feb 2010 | 2:12 am China: Hugh Hendry warns investors' infatution is misguidedHugh Hendry warns that our infatuation with China could end in tears.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Feb 2010 | 2:09 am Media Digest 2/12/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: The IMF may join the bailout of Greece. Reuters: The European Central Bank will help in efforts to ease Greek debt. Reuters: Motorola (NYSE:MOT) will split its businesses in half in 2011. Reuters: The Madoff family will be pursued by prosecutors. Reuters: China urged the US to cancel a Obama meeting with the Dalai Lama. Reuters: The head of Toyota [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Feb 2010 | 1:58 am Europe Markets: Europe streak hits five as ThyssenKrupp, Eni riseStocks in Europe rose for a fifth straight session Friday, led by metals-related companies including Germany’s ThyssenKrupp as concerns over national debt burdens faded into the background.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 1:56 am Banking and financial stocks bounce back in LondonLondon's banking stocks bounced on Friday, as traders bought back into the sector after it had spent the previous session mired in uncertainty over the European Union's plan to rescue Greece. Although...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:52 am Highlights of Senate jobs billWHAT'S IN: Hiring tax credits _ Exempts businesses hiring unemployed workers in 2010 from the 6.2 percent Social Security payroll tax for those hires and provides an additional $1,000...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 1:51 am Snooker player held in bet probeSnooker player Stephen Lee is arrested following an investigation into suspicious betting patterns.Source: BBC News | Business | World Edition | 12 Feb 2010 | 1:51 am Macworld's 11 Best-of-Show winnersMacworld Expo proves it can attract a crowd -- and some cool technology -- without Apple.Source: Business and financial news - CNNMoney.com | 12 Feb 2010 | 1:51 am Bill Clinton has heart procedure - CNN.comSource: Business and financial news - CNNMoney.com | 12 Feb 2010 | 1:47 am World stocks gain on Greece support plan (AP)
Source: Yahoo! News: Stock Markets News | 12 Feb 2010 | 1:46 am World stocks gain on Greece support planWorld markets were mostly higher Friday on optimism Europe's pledge to help debt-laden Greece would stave off a broader crisis among the 16 countries that use the euro. Adding to...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 1:46 am Dow gains 100 pointsStocks rallied Thursday after the European Union's promise to help debt-ridden Greece eased worries that a default might hurt global markets.Source: Business and financial news - CNNMoney.com | 12 Feb 2010 | 1:40 am Two wheels goodMotorcycle boost to Zambia's health hopesSource: BBC News | Business | World Edition | 12 Feb 2010 | 1:33 am Oil slips below $75 as US crude demand eyedOil prices fell below $75 a barrel Friday in Asia ahead of a weekly crude supply report that could reflect sluggish U.S. demand. Benchmark crude for March delivery was down 67 cents at...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 1:32 am Eurostar braced for report on 'fluffy snow' debacleA critical report into the pre-Christmas breakdown of Eurostar trains which left 2,500 people trapped in the Channel Tunnel is to be published later today. Source: Latest Business News from Times Online | 12 Feb 2010 | 1:25 am Asia Markets And Europe Open (2/12/2010)Markets in Asia were mixed The Nikkei rose 1.3% to 10,092. Sony (NYSE:SNE) and Toyota (NYSE:TM) rose. The Hang Seng fell .1% to 20,265. HSBC (NYSE:HBC) dropped slightly. The Shanghai Composite rose 1.1% to 3,018. At the open in Europe, the FTSE was up .7% to 5,198. The Dax was up 1% to 5,556. The CAC 40 rose 1% [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 12 Feb 2010 | 1:24 am German economy grinds to a haltGermany’s economy stalled at the end of last year, dashing hopes that its rebound would help lift activity across continental Europe as foreign trade proved the only bright spotSource: Financial Times - US homepage | 12 Feb 2010 | 1:24 am Toyota to expand disclosure amid pressure on CEOToyota said Friday it's planning a new level of disclosure about car problems beyond what the automaker is legally required to reveal as it seeks to rebuild consumer trust. The move...Source: RSS feed - channel BNewsBusiness | 12 Feb 2010 | 1:21 am Currencies: Dollar gains against rivals in thin Asia tradingThe dollar builds on gains in Friday’s Asian trading, taking its cue from German data and European assurances of support for Greece.
Source: MarketWatch.com - Top Stories | 12 Feb 2010 | 1:19 am 2010 Ferrari 458 Italia: Dashing through the snow in a red Italian sleighSnow is a beautiful thing.
Source: L.A. Times - Business | 12 Feb 2010 | 1:00 am Fresh dose of bipartisanship for financial overhaulRepublican Bob Corker agrees to join Democrat Christopher Dodd to hammer out new regulations on Senate committee.Less than a week after declaring an impasse in bipartisan negotiations to overhaul U.S. financial regulations, Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.) said he's now working with a new Republican partner: Sen. Bob Corker of Tennessee.
Source: L.A. Times - Business | 12 Feb 2010 | 1:00 am Runaway ride kills Toyota love affairA Colorado man has fought mostly unsuccessfully to get his concerns heard since his wife's harrowing accident in 2006.Before his wife's Prius suddenly accelerated uncontrollably to 90 miles per hour on a mountain highway, you'd have been hard-pressed to find a bigger fan of Toyota than Ted James.
Source: L.A. Times - Business | 12 Feb 2010 | 1:00 am Anthem's parent company defends health insurance rate hikeWellPoint says the increases of as much as 39% reflect rising medical costs and that its profit margin in California is 'in line with and below that' of competitors. ...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am Fresh dose of bipartisanship for financial overhaulRepublican Bob Corker agrees to join Democrat Christopher Dodd to hammer out new regulations on Senate committee. ...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am IRS finds few takers for healthcare tax creditsOnly about a third of eligible Californians are taking advantage of the IRS program that pays up to 80% of their premiums. ...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am Anthem's parent company defends health insurance rate hikeWellPoint says the increases of as much as 39% reflect rising medical costs and that its profit margin in California is 'in line with and below that' of competitors.The parent of beleaguered Anthem Blue Cross offered a spirited defense Thursday of large premium increases for customers with individual health insurance policies in California, but critics -- including the Obama administration -- voiced skepticism.
Source: L.A. Times - Business | 12 Feb 2010 | 1:00 am Hiring foreign farmworkers to get tougher under new ruleGrowers must try harder to find Americans to fill the temporary and seasonal harvest jobs, starting next month. ...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am 2010 Ferrari 458 Italia: Dashing through the snow in a red Italian sleighSnow is a beautiful thing.Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am Toyota faces massive legal liabilityLegal expenses and damages could add billions to Toyota's recall costs, with dozens of suits pending over injuries and deaths and at least 30 seeking class-action status over lost use of vehicles.Toyota Motor Corp.'s massive recalls for acceleration and braking problems are creating a huge legal liability for the company -- and Toyota owners may share in the pain.
Source: L.A. Times - Business | 12 Feb 2010 | 1:00 am European leaders offer moral support but no cash to GreeceGreece denies it is seeking a bailout as EU President Herman Van Rompuy backs an austerity plan that Athens hopes can reduce the deficit and ease a debt crisis. ...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am IRS finds few takers for healthcare tax creditsOnly about a third of eligible Californians are taking advantage of the IRS program that pays up to 80% of their premiums.Federal healthcare benefits are going unclaimed by an estimated 17,000 Californians whose jobs were moved overseas or retirees whose pensions are being paid by the government after their former employers terminated their retirement plans.
Source: L.A. Times - Business | 12 Feb 2010 | 1:00 am Runaway ride kills Toyota love affairA Colorado man has fought mostly unsuccessfully to get his concerns heard since his wife's harrowing accident in 2006. ...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am Home resales improved in fourth quarter of 2009The seasonally adjusted annual rate of previously occupied homes sold jumped 13.9% from the third quarter, a Realtors group said. The national median price rose 2.9%. ...Source: RSS feed - channel BNPaperBusiness | 12 Feb 2010 | 1:00 am German economic recovery grinds to surprise haltGermany's economic recovery ground to a surprise halt in the final three months of last year, adding to the challange Chancellor Angela Merkel has in finding domestic support for a rescue of Greece.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 12 Feb 2010 | 12:54 am New Greece fear leaves euro at market's mercyTrading in the euro was volatile this morning after the eurozone’s two largest economies posted wildly different GDP figures showing German growth stagnated in the fourth quarter while France surged. Source: Latest Business News from Times Online | 12 Feb 2010 | 12:49 am Motorola to split business into two in 2011NEW YORK (Reuters) - Motorola Inc said it aims to split into two companies in the first quarter of 2011, one to focus on cellphones and television set-top boxes, and the other on enterprise networking.
Source: Reuters: Business News | 12 Feb 2010 | 12:41 am Shareholder wants Six Flags' management replacedWILMINGTON, Delaware (Reuters) - A holder of Six Flags preferred shares asked a federal judge to appoint a trustee to run the bankrupt theme park operator because current management has breached its fiduciary duty and suffers conflicts of interest.
Source: Reuters: Business News | 12 Feb 2010 | 12:37 am IMF offers to help Greece; EU disappoints markets (Reuters)
Source: Yahoo! News: Business News | 12 Feb 2010 | 12:37 am IMF offers to help Greece; EU disappoints markets (Reuters)
Source: Yahoo! News: Business News | 12 Feb 2010 | 12:26 am IMF offers to help Greece; EU disappoints marketsMUMBAI (Reuters) - The International Monetary Fund on Friday joined the European Union in pledging support for Greece in its struggle to bring its ballooning budget deficit under control and contain its debt crisis.
Source: Reuters: Business News | 12 Feb 2010 | 12:26 am Toyota to expand disclosure to win back trust (AP)
Source: Yahoo! News: Business News | 12 Feb 2010 | 12:05 am Madoff's brother, sons subject of criminal tax-fraud cases: WSJ(Reuters) - The brother and sons of imprisoned swindler Bernard Madoff are the subject of criminal tax-fraud cases by federal prosecutors in Manhattan, the Wall Street Journal reported, citing people familiar with the matter.
Source: Reuters: Business News | 11 Feb 2010 | 11:41 pm On thin ice?Vancouver strives to win Winter Olympics profitSource: BBC News | Business | World Edition | 11 Feb 2010 | 11:37 pm Bill Clinton recovers from heart surgeryThe former US president is recovering well from an operation that opened a blocked artery in his heart after he experienced chest discomfort, says his doctorSource: Financial Times - US homepage | 11 Feb 2010 | 11:08 pm Asia Markets: Selective investing key for Year of the TigerAfter a rewarding bull run in the Year of the Ox, the Year of the Tiger might bring more gains for investors in Chinese stocks, but picking the right stocks would be crucial, as valuations are now more expensive and policy-tightening measures loom.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 10:26 pm Chuck Jaffe: Betting against stocks now could be stupidIn a market correction, the seemingly "correct" thing to do would be to bet against the market. But for investors ready to take that step, fresh off a few weeks of nervousness and decline, they'd be making the Stupid Investment of the Week.
Source: MarketWatch.com - Top Stories | 11 Feb 2010 | 10:03 pm Reynolds: Telecom's profits down but making progressTelecom says its quarterly results are "solid" but tough economic times and problems with its XT network will see its profits in the lower range of expectation for the full financial year.Telecom, the country's major telecommunications...Source: nzherald.co.nz - Business | 11 Feb 2010 | 9:00 pm Chile mint boss pays the price for coin misspelling gaffeThe Chile mint's general manager is dismissed after thousands of coins were issued with the name of the country spelt wrongly.Source: BBC News | Business | World Edition | 11 Feb 2010 | 8:59 pm Toyota chief plans U.S. trip as Congress seeks answersTOKYO/DETROIT (Reuters) - Toyota Motor said on Friday its embattled head is planning a U.S. trip early next month but would not confirm whether he would attend congressional hearings probing the automaker's safety recalls.
Source: Reuters: Business News | 11 Feb 2010 | 8:02 pm 2degrees signs up 206,000 new mobile customers2degrees Mobile has just announced that it has signed up 206,000 customers in its first six months.CEO Eric Hertz said that a total of 53,000 people had decided to switch their 021 and 027 mobile numbers over to the 2degrees network....Source: nzherald.co.nz - Business | 11 Feb 2010 | 8:00 pm Hiring foreign farmworkers to get tougher under new ruleGrowers must try harder to find Americans to fill the temporary and seasonal harvest jobs, starting next month.In a move that is sure to have the agriculture industry grimacing and labor-rights advocates cheering, the Labor Department is reversing a Bush administration rule that allowed farmers an easier path to hiring temporary or seasonal foreign workers.
Source: L.A. Times - Business | 11 Feb 2010 | 7:37 pm MySpace - how did it go so wrong?Don't you feel just a pang of sympathy for MySpace? It has even become the butt of cruel jokes. Striking just the right note of pathos, Saturday Night Live called the social networking site the internet's "abandoned amusement...Source: nzherald.co.nz - Business | 11 Feb 2010 | 7:24 pm Disney's plan to release 'Alice' on DVD early upsets theatersThe studio plans to release 'Alice in Wonderland' on disc three months after it opens March 5 instead of the usual four months. Exhibitors worry it will keep people from watching it on the big screen.In a move that begins to redraw the way movies are distributed, the Walt Disney Co. plans to release the film "Alice In Wonderland" on DVD only three months after it opens in theaters March 5.
Source: L.A. Times - Business | 11 Feb 2010 | 7:08 pm $85-billion jobs bill slashedMajority Leader Harry Reid says his stripped-down proposal will be the first in a series of employment measures.The Senate's top leader on Thursday abruptly scaled back the size of a job-creation bill from $85 billion to $15 billion, fearing that even with emerging bipartisan support the larger bill could be undercut by costly special-interest provisions that would have little effect on unemployment.
Source: L.A. Times - Business | 11 Feb 2010 | 7:02 pm Health insurers take heat for rise in profitsThe five biggest companies covered 2.7 million fewer people last year but earned 56% more, says a report by Health Care for America Now.As the nation struggled last year with rising healthcare costs and a recession, the five largest health insurance companies racked up combined profits of $12.2 billion -- up 56% over 2008, according to a new report by liberal healthcare activists.
Source: L.A. Times - Business | 11 Feb 2010 | 7:00 pm Ex-Goldman programmer indicted over HFT code theftNEW YORK (Reuters) - A former Goldman Sachs Group programer was indicted on charges he stole computer code for the investment bank's high-frequency trading platform, federal prosecutors said on Thursday.
Source: Reuters: Business News | 11 Feb 2010 | 6:16 pm Restaurant results dash 2010 recovery hopesLOS ANGELES (Reuters) - Chipotle Mexican Grill Inc , Buffalo Wild Wings Inc and BJ's Restaurants Inc dashed high hopes that 2010 would be the year that the mid-tier restaurant industry makes a comeback.
Source: Reuters: Business News | 11 Feb 2010 | 5:56 pm Rajaratnam wins ruling, wiretap turnover on holdNEW YORK (Reuters) - Galleon Group hedge fund founder Raj Rajaratnam, facing criminal and civil charges in a multimillion dollar insider-trading probe, won an emergency order relieving him from having to immediately turn over wiretap recordings in the civil case.
Source: Reuters: Business News | 11 Feb 2010 | 5:49 pm ‘Volcker rule’ gives Goldman stark choiceGoldman Sachs and other banks should give up their bank status if they want to avoid the ban on proprietary trading proposed by the White House, Paul Volcker, head of President Barack Obama’s Economic Recovery Advisory Board, said.Source: Financial Times - US homepage | 11 Feb 2010 | 5:44 pm Judge demands details on $150 million SEC-BofA deal (Reuters)Reuters - A federal judge weighing a U.S. Securities and Exchange Commission $150 million settlement with Bank of America Corp has demanded more details on why bank shareholders were left in the dark about problems at Merrill Lynch & Co before approving that company's takeover.Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 5:33 pm Property sales plunge in JanuaryHome sales plummeted in January to their lowest level in nearly two decades, says the Real Estate Institute of New Zealand.Institute President Peter McDonald says the total figure of 3,666 dwellings sold in January this year was...Source: nzherald.co.nz - Business | 11 Feb 2010 | 5:30 pm Merlin decision to postpone flotation shows IPOs have lost their magicIs the party over before it even began? As my colleague Helia Ebrahimi revealed yesterday on Telegraph.co.uk Merlin Entertainments, the owner of Legoland and Thorpe Park, has followed in the footsteps of Travelport and stepped off the IPO rollercoaster.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 5:11 pm Shell staff details leaked to campaign groupsRoyal Dutch Shell has suffered a serious breach of security after contact details for 176,000 employees and contractors were e-mailed to environmental and human rights campaign groupsSource: Financial Times - US homepage | 11 Feb 2010 | 5:10 pm IMF floats plan to raise inflation targetsEconomists are challenging economic orthodoxy by suggesting that many pre-crisis policy tools should be redesigned and some sacred cows considered for slaughterSource: Financial Times - US homepage | 11 Feb 2010 | 5:06 pm Fashion world tweets its respects to a genius ‘who made the big-bottomed girls look good’From the hautest of Parisian ateliers right down to the gauchest corners of the Twittersphere, news of Alexander McQueen’s apparent suicide prompted an outpouring of tributes from across the fashion world. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm Rio reinstates its dividend and growth plans in spite of profits fallAfter the horrors of the past couple of years Rio Tinto, the world’s second-largest mining group was eager to demonstrate that it was business as usual yesterday as it reinstituted its dividend and growth plans. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm At last, esure parts with its backseat driver“Calm down, dear” — the catchphrase of the film director Michael Winner in TV commercials for esure, the car insurance group — seemed all too apt yesterday. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm Prince of Wales falls victim to recession as Duchy Originals loses £3.3mThe Prince of Wales was revealed as an unlikely victim of the recession yesterday as figures showed that his organic food label, Duchy Originals, incurred almost £3.3 million in losses last year. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm Summit promises on Greece fail to impress market as euro falls furtherAn attempt by Europe’s richest countries to end the crisis engulfing the euro failed to impress financial markets yesterday as the single currency fell, despite promises that the battered Greek economy would not be allowed to implode. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm Confidential Shell database published on webRoyal Dutch Shell was at the centre of a major security breach last night after the names and telephone numbers of tens of thousands of the oil company’s staff were circulating freely on the internet. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm British company’s robots to clear Baltic Sea mines for gas pipelineDozens of Second World War mines that litter the floor of the Baltic Sea will be detonated by a British company this spring in the biggest commercial mine-clearance programme in history. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm ‘Generation Rent’ warned to forget buyingMany aspiring first-time buyers have been kept off the housing ladder by tough lending policies for the past two years and must now face the reality that they will be in rented accommodation for the foreseeable future. Source: Latest Business News from Times Online | 11 Feb 2010 | 5:01 pm Green Business: Samoa's organic bananas making NZ inroadsSamoa's organic banana exports are set to get a boost from a new partnership between a New Zealand food company and a Samoan women's group.Chris Morrison, co-owner of All Good Organics, is launching New Zealand's first free trade...Source: nzherald.co.nz - Business | 11 Feb 2010 | 5:00 pm Lloyds accused of distorting job market with 'inflated' pay and bonusesLloyds Banking Group, the part-nationalised lender, is driving up market rates for bond and equity salesman and traders with "silly packages" and "guaranteed bonuses" - as it attempts to build a controversial capital markets business.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 4:59 pm BA suspends crew over 'intimidating' website commentsBritish Airways has suspended 15 cabin staff over "inappropriate postings" allegedly made on a union website.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 4:46 pm NZ sharemarket opens positivelyThe New Zealand share market gained in early trading this morning - led by trading in Goodman Fielder and following positive news from US and Australian markets.The benchmark NZX-50 index opened at 3065.278 and gained 11.682 points,...Source: nzherald.co.nz - Business | 11 Feb 2010 | 4:38 pm Thomas Cook scores with Redknapps as travel bookings swellA television advertising campaign featuring former Liverpool footballer Jamie Redknapp and his wife and rebounding consumer confidence have given a boost to summer bookings at Thomas Cook.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 4:29 pm Google expands ad targeting methodsGoogle will now use hours of search history to target ads that users see when they search keywords on the site, the company announced in a blog post.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 4:25 pm Senators lift financial reform talks back on trackWASHINGTON (Reuters) - In an unusual move that cut a senior Republican out of the loop, bipartisan U.S. Senate negotiations resumed on Thursday on financial regulation reform, a top priority of the Obama administration.
Source: Reuters: Business News | 11 Feb 2010 | 4:25 pm Motorola plans to split into twoMotorola, the US mobile phone and electronics group, plans to split itself into two separate publicly-quoted companies in the first quarter of next year, the company announcedSource: Financial Times - US homepage | 11 Feb 2010 | 4:19 pm Diageo boss raises pressure on Government over tax regimeDiageo chief executive Paul Walsh has joined a growing band of corporate big-hitters who have criticised the Government's tax policy, warning that the drinks company would be willing to leave Britain if taxes keep rising.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 4:06 pm Stocks climb after EU pledges support for Greece (AP)
Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 4:00 pm December retail spend up a notchRetail figures for the December quarter show a general rise in sales compared with the previous quarter.The Statistics New Zealand figures out today indicate total retail sales volume rose by 1 per cent, while total sales value...Source: nzherald.co.nz - Business | 11 Feb 2010 | 4:00 pm How the major stock indexes fared on Thursday (AP)AP - Relief about Europe's pledge to support Greece sent the stock market charging higher Thursday.Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 3:57 pm Summary Box: Stocks jump as Greece gets aid pledge (AP)AP - WHAT THE DOW DID: The Dow Jones industrial average jumped 106 points on relief about the European Union's pledge to bail out Greece, which is struggling with heavy debt loads.Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 3:50 pm Goldman Sachs faces 'Robin Hood tax' vote-rigging claimsGoldman Sachs is investigating claims that one of its computers was used to rig a public vote on the introduction of a so-called "Robin Hood tax" on bankers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 3:39 pm Goldman wins bookrunner role in AIA listingGoldman Sachs has been chosen as one of the banks that will manage the $10bn-plus listing of AIG’s Asian unit – in spite of the political controversy over Goldman’s actions during the insurer’s near-collapse in 2008.Source: Financial Times - US homepage | 11 Feb 2010 | 3:37 pm Facebook at work problems growing, say employersA new survey of 520 New Zealand companies has found that 67 per cent have no policies in place to regulate staff use of social media websites such as Facebook and Twitter.It comes as a leading employer group says more businesses...Source: nzherald.co.nz - Business | 11 Feb 2010 | 3:30 pm Jerry Yang Dumping Yahoo! Shares (YHOO, MSFT)Yahoo! Inc. (NASDAQ: YHOO) holders probably never want to hear the name Jerry Yang again. Well, those same holders will love this… Tonight after the close a filing at the SEC from Yahoo! showed that Jerry Yang is going to be selling stock in the company. David Filo, the other Yahoo founder, is also selling [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 3:28 pm Write-Offs: 02.11.10$$$ Ex-Goldman Programmer Indicted Over Software Theft [BW] $$$ Ken Lewis's drinking buddy retires. [Charlotte Observer] $$$ Lenny Dykstra might've scammed his son out of a little money. Which means he might be even more desperate than we thought, and is all the more reason for you to sign up for Nails Investments today. [ESPN] $$$ Former Goldman Exec: Of course we front run our clients. [BI] $$$ The site wasn't so accessible today, huh? Either on the logging on to it side or the ability to publish stories side? I know. They're moving our servers and some other stuff, which is causing everything to majorly blow. No one feels this pain more than me. Bear with us. And there'll be something in it for you. 
 Source: Dealbreaker | 11 Feb 2010 | 3:20 pm Foreclosures Up 15 Percent From January 2009
A foreclosure in Tempe. (Nick Bastian Tempe, AZ/Flickr) By Caitlin Kenney The number of foreclosure filings fell 10 percent in January, but surpassed 300,00 for the 11th straight month. Real estate data firm, RealtyTrac, reports that 315,716 properties received a notice of default, auction or bank seizure -- that's one in every 409 households. Foreclosure filings also fell in January of 2009, only to rise months later. "If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works," James J. Saccacio, RealtyTrac's chief executive officer, said in the statement. According to the Treasury Department, only about 66,000 delinquent loans were permanently modified under the Home Affordable Modification Program as of December 31. That has left many homeowners feeling helpless and mortgage officials searching for new techniques to deal with distressed borrowers. The Washington Post reports: Citigroup, for instance, plans to announce a pilot program on Thursday that would allow delinquent borrowers who don't qualify for or decline mortgage relief the opportunity to stay in their homes without making payments for up to six months before turning over the keys, in return for keeping the property in good condition. The bank estimates that up to 20,000 borrowers in Texas, Florida, Illinois, Michigan, New Jersey and Ohio could be eligible The program is just the latest amid a growing acknowledgment that foreclosure prevention efforts will fail to reach millions of borrowers over the next few years. "This is a graceful way to move on with their lives instead of being foreclosed on and being evicted from their homes," said Sanjiv Das, chief executive of CitiMortgage. Nevada continues to have the highest foreclosure rate with one in 95 households receiving a filing in January. Arizona ranks second, with filings for one in 129 households. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Feb 2010 | 3:02 pm How the e-readers stack upWhich of the three is most deserving of your dough? Money tested them to help you pick one you won't be able to put down.Source: Business and financial news - CNNMoney.com | 11 Feb 2010 | 2:52 pm Will markets call EU bluff on Greek rescue?Greek bail-out accord lacks substance, raising fears that EU leaders still can't agree terms.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 11 Feb 2010 | 2:49 pm Kiwi dollar pushes above 70cThe New Zealand dollar pushed back above 70 US cents for the first time in a week and a half after data showed Australian unemployment continued to shrink last month, while the European Union moved towards a bail-out for debt-stricken...Source: nzherald.co.nz - Business | 11 Feb 2010 | 2:30 pm BA suspends staff over web postsUnite union says BA is engaged in a 'cyber-space' witch hunt as members are suspended over alleged web posts.Source: BBC News | Business | World Edition | 11 Feb 2010 | 2:27 pm Miners push for record iron ore pricePrices could be settled at, or even above, $90 a tonne – the record level at which the 2008-09 annual contracts were settledSource: Financial Times - US homepage | 11 Feb 2010 | 1:33 pm Property fund's decisions disappointing: investorAn institutional investor is disappointed at moves by $730 million property fund DNZ.The fund yesterday announced the resignation of director Simon Botherway and plans to delay dividends and sell property.Craig Tyson, ING...Source: nzherald.co.nz - Business | 11 Feb 2010 | 1:30 pm Court told of Rooney brand planWayne Rooney was to be "branded" as the "antithesis" of David Beckham when he started his sport career, a court is told.Source: BBC News | Business | World Edition | 11 Feb 2010 | 1:21 pm Presented By:Source: Dealbreaker | 11 Feb 2010 | 12:17 pm Hank Paulson Not That Worried About People Claiming Innaccuracies In His BookGE CEO Jeffrey Immelt said today that while he did indeed have a discussion with Hank Paulson in September 2008, it had nothing to do with his irm's commercial paper woes, as the former Treasury Secretary claims in his new book. "To write this book, I called on the memories of many of the people who were with me during these events. Given the high degree of stress during this time and the extraordinary number of problems I was juggling in a single day, and often in a single hour, I am sure there are many details I will never recall." So there you have it. You should expect he got some stuff wrong. Hope that helped cleared things up.
Source: Dealbreaker | 11 Feb 2010 | 12:17 pm EU stops short of immediate aid for GreeceThe accord by leaders of the 27-nation bloc amounts to an implicit assurance to help Athens if it has problems refinancing debt in April and May, puncturing hopes in financial marketsSource: Financial Times - US homepage | 11 Feb 2010 | 12:14 pm National Employee Morale Day At Boston Scientific (BSX)Boston Scientific (NYSE:BSX), the worst run of the large medical device and pharma firms based in the US, announced an operating loss for the fourth quarter of 2009 of $1.23 billion. The company’s guidance was poor which pushed shares down 7% in active trading to $7.61. The bad news was on top of an announcement last week [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 11:55 am Och-Ziff OZ Fund Returned 23.1% In '09Och-Ziff, with $24 billion in aum, raked in $500 million during the past month and a half, with half being in capital inflows and half in performance-related appreciation. "The capital inflow cycle for the hedge fund industry has begun and our assets under management will grow over time." Here are some highlights from Och's SEC filings: •Full-year net returns through December 31, 2009 for the OZ Master Fund of 23.1%, the OZ Europe Master Fund of 16.4%, the OZ Asia Master Fund of 34.0% and the OZ Global Special Investments Master Fund of 8.4% •Distributable Earnings for the 2009 fourth quarter and full year of $281.4 million, or $0.69 per Adjusted Class A Share, and $355.3 million, or $0.88 per Adjusted Class A Share, respectively •Assets under management of $23.5 billion as of January 1, 2010, a 6% increase from $22.1 billion as of January 1, 2009, reflecting performance-related appreciation of $4.2 billion partially offset by $2.8 billion in net outflows Full filing here.
Source: Dealbreaker | 11 Feb 2010 | 11:47 am Will One Solar Merger Precede Others? (SPWRA, FSLR, JASO, ENER, LDK, SOLR, WFRSunPower Corp. (NASDAQ: SPWRA) has made what may be one of the first decent sized mergers in the solar sector. The company agreed to acquire SunRay Renewable Energy in Malta for $277 million. The equity purchase was $235 million in cash, the rest as a letter of credit. Just last year, SunRay received a $200 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 11:27 am White House Expects Economy To Add 95,000 Jobs Each MonthBy Caitlin Kenney The President's Council of Economic Advisers expects the U.S. to add an average of 95,000 jobs each month this year. In the annual Economic Report of the President, the CEA predicted that unemployment would remain at 10 percent in 2010, dipping down to 9.2 percent in 2011. The reports comes as President Obama is working with Congress to pass a job-creation bill. The Senate has proposed a $85 billion jobs-stimulus plan that would give businesses that hire unemployed workers this year an exemption from the 6.2 percent Social Security Payroll tax. Businesses that keep those employees for more than a year, would get an additional $1,000 tax credit per employee. In December, the House passed a $174 billion jobs bill that focuses on helping struggling states and investing in infrastructure. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Feb 2010 | 11:03 am Citi Pays Just As Well As Any Other Bank On The Street, Claims CFOLast week, Goldman Sachs management told an analyst that despite a lower than normal compensation ratio of 36% for 2009, they weren't sweating people leaving the mothership because relative to everyone other bank on the Street, they're still making it rain ka-ching! on people's faces. Slightly arrogant, sure, but not necessarily untrue. Can this same bold claim be made by certain other banks like, say Citi? One guy says yes. Citigroup is at no disadvantage when it comes to paying employees, the bank's chief financial officer said on Thursday. The bank was able to pay employees competitively in 2009 and is subject to the same compensation oversight in 2010 as its major competitors, John Gerspach said at a conference hosted by Credit Suisse. Earlier: Bonus Watch '10: Citi
Source: Dealbreaker | 11 Feb 2010 | 11:00 am Dubai's woes displace migrant wokersAs Dubai's economic boom grounds to a halt, some foreign workers are being sent home to face uncertain futures. Raymond Thibodeaux reports.Source: Marketplace | 11 Feb 2010 | 10:57 am What's the snowstorm costing airlines?The Wall Street Journal's Scott McCartney talks with Kai Ryssdal about how much of an economic damper the snow has put on airlines.Source: Marketplace | 11 Feb 2010 | 10:57 am Will tape delay hurt Olympics?NBC is showing some major events from the Vancouver Olympics hours after they've ended, even though the results will be all over the Internet. Nancy Marshall Genzer reports.Source: Marketplace | 11 Feb 2010 | 10:57 am Bridging the theology-economy gapCommentator Susan Lee recently participated in a conference about how to build an ethical economy at Trinity Church on Wall Street. She shares her perspective as both an economist and theologian.Source: Marketplace | 11 Feb 2010 | 10:57 am What's the E.U.'s plan to help Greece?European leaders promised solidarity with Greece, but have offered few concrete proposals. European correspondent Stephen Beard talks with Kai Ryssdal about what the E.U. might do to help Athens avoid a default.Source: Marketplace | 11 Feb 2010 | 10:57 am Is job growth prediction realistic?The White House released its annual Economic Report, and it expects the economy to create an average of 95,000 jobs a month this year. That's a turnaround from the job losses that have been piling up since the recession began. John Dimsdale reports.Source: Marketplace | 11 Feb 2010 | 10:57 am State governors stick up for ToyotaGovernors from four states that house Toyota plants have asked Congress to be fair to the automaker amidst its massive recall. Why? Alisa Roth reports.Source: Marketplace | 11 Feb 2010 | 10:57 am HHS Sec'y doubts Wellpoint on premium hikes (AP)AP - The government's top health official isn't buying a major health insurer's explanation for double-digit premium hikes in the nation's most populous state.Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 10:56 am A look at global economic developments (AP)AP - A look at economic developments and activity in major stock markets around the world Thursday:Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 10:45 am FTSE ends higher on EU Greece pledge (AFP)
Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 10:30 am Questions and answers on Europe's debt crisis (AP)AP - European and U.S. stock markets have encountered turbulence recently as investors worry about the debt crisis enveloping Europe, particularly in Greece.Source: Yahoo! News: Stock Markets News | 11 Feb 2010 | 10:22 am Linchpin: Are You Indispensable? A Book Review
He also defies simple explanation. That very characteristic–using a combination of attributes to become indispensable at what you do–is a key feature of linchpins. A linchpin is a person with a unique skill set and way of doing things. Their combination of skills, talents, and abilities, which Godin defines in his book, make them indispensable. If a linchpin works in a company, they are the person a company can’t live without. Well-known corporate linchpins include Steve Jobs or Google’s Marissa Mayer. Linchpins that don’t work for companies are indispensable, too. They provide something so economically valuable that they’re changing their industry. Jay Parkinson is an example. Many affect large numbers of people in a positive way. Like your favorite barista at the coffee shop–the one you look forward to seeing every time you visit. Whether corporate or not, because of their unique abilities, no linchpins want for contacts or jobs. In his new book, Linchpin: Are You Indispensable?, Seth Godin makes the case that the world needs more linchpins. He gives you background on why linchpins are so valuable right now. He makes it clear how linchpins operate, who they are, and why you need to be one. Mediocrity, just showing up to work and doing what you’re told, used to guarantee you a paycheck. It won’t anymore, writes Godin. Today, our economy rewards the people without whom the company can’t function. You guessed it–linchpins. Some businesses have a model of hiring “cheap drones (they) can scale, replace, and disrespect.” But that, claims Godin, won’t lead to customer loyalty or growth. It’s not a good strategy; it’s survival and maintenance. In order to flourish, a company needs linchpins. What’s good for the individual (being indispensable) is good for the company, too. Content In his book, Godin doesn’t tell you how to be a linchpin. Instead, he gives you an aggregate picture of who linchpins are, what they do, and why they’re so coveted. Godin starts the book by setting the stage for today’s work world. Many previously white-collar projects can now be done for free, either by crowds or by machines. Obedience and just showing up to work are passé. Unfortunately, school and the media have indoctrinated people to be factory workers. As a result, we automatically buy into a career system constructed on fear: Obey the boss or be fired. Godin emphasizes that we need to cast that aside. He details what you need to do in order to change your factory-worker mentality. Instead of just sitting down and blankly following orders, you have to bring your soul to work. You have to stay human and be brave. You need to create, connect, and invent in your work. And, of course, you have to work hard. If being remarkable feels threatening, Godin explains why in following chapters. The amygdala, or lizard brain, will try to sabotage your best efforts, he says. If the lizard brain perceives something as being too risky, it tries to stop. It does this by making you hesitate, compelling you to overdo things, and undermining your confidence. After showing you how the lizard brain tries to stop you, Godin tells you how to thwart it. Subsequent chapters define the qualities and abilities of a linchpin. Linchpins are artists, per a definition that Godin puts forth in the next chapter. They bring emotional labor to their work. They are generous, giving without expectation of reciprocity. This is an essential quality in an economy that has integrated a culture of gifts, according to the author. Linchpins also don’t wait for instructions. They figure out how to create value, then go do it. If you want to be a linchpin, make your own map. If this scares you, make the choice to be bigger than your lizard brain. Now you’ve decided to be a generous, self-motivated, fear-accepting artist. There’s more. In order to be a linchpin, you must be socially intelligent. You connect with other people through genuine human interactions. This connection helps make you indispensable. The linchpin picture is almost complete. Towards the end of the book, Godin adds a few more details to round it off. Besides bringing emotional labor to work and making their own maps, linchpins interact with customers, staff, and members of their organization. They possess a unique kind of creativity and talent. They use their internal map-making skills and judgment to manage complexity. Good judgment and generosity, combined with deep knowledge of your field, is yet another ability. He concludes the book with a qualifier. Putting your heart and soul into your art doesn’t always monetize. If this is the case, continue to be a generous artist. Learn from your previous experience. The compromise, if you can call it that, is to learn “how to love what you do to make money.” Remarks Linchpin read like a series of blog posts. The writing style leaves latitude for personal interpretation. Depending on your experience and situation, Linchpin’s messages will hit you on a personal level, more so than other business books. Here’s what I took away. As an entrepreneur, I didn’t find the first six chapters groundbreaking. I already have my suspicions about the effectiveness of the factory model, schooling, and “just showing up” to work. It was pleasant to affirm my beliefs by reading what Godin had to say, but that’s all. I loved the second half of the book, however. My favorite chapter was called “The Resistance.” It focuses on thwarting the overprotective tendencies of the amygdala, or lizard brain. The chapter explains how fear manifests and how to effectively accept it while staying in charge. Personally–and the book is personal–I found this to be the most useful chapter. Following chapters let me piece together a picture of what a linchpin looks like. I didn’t find a roadmap on how to be one (I guess I’m supposed to make my own map), but I found enough descriptions for a clearer mental image of a linchpin. Some je ne sais quoi in Godin’s writing also inspired me to try to be a linchpin. The mental picture of a linchpin, combined with the inspiration to try to fit that image, settled over me subtly, like a blanket. Something permeated. I do not know how it will manifest. By the end of the book, I had absorbed the following message: Society rewards you for standing out, giving gifts, making connections, and being remarkable. I was motivated to try. I’ll keep this book around because I want to sustain that inspiration, not just go back to old routines and let the book’s message fizzle out. Some might find this book mind-blowing—it depends on how you think and your personal situation. I recommend it for everybody. I would especially encourage you to read it if you’re in a disappointing job, discouraged about work, or feel stuck in your business or career. Linchpin has a magic about it. Don’t miss it.
Source: Business Pundit | 11 Feb 2010 | 10:14 am EU to Bail Out Greece, Sort Of
The EU has “reached a deal” to bail out Greece in order to protect the European economy. EU President Herman Van Rompuy did not disclose details of the deal, which will hopefully help avoid a contagion effect in other counties as well as steady the value of the euro. Greece currently owes $419 billion, and is using 11.6% of its GDP to service debt. The BBC has more: There was an instant reaction on the markets, where traders welcomed news of the deal. Major European markets rebounded from earlier falls and the euro rose against the US dollar. The BBC’s Dominic Hughes in Brussels says the details of the EU help for Greece may not emerge until Monday, when eurozone finance ministers will meet. EU rules prevent the eurozone from collectively bailing out Greece, but the debt crisis has forced EU leaders to seek ways to help nevertheless. Any EU budget support for Greece is likely to come with stringent conditions, to ensure that Athens fulfils its austerity plans and to reassure European voters that their taxes will not be diverted to propping up Greece. Greece’s deficit is, at 12.7%, more than four times higher than eurozone rules allow. (Note that several other countries–above and beyond the PIIGS–have deficits that are too high for eurozone rules.) In order to combat its debt problems, Greece plans to freeze the pay of public sector workers, increase gas prices, and raise the retirement age, according to the BBC. Greek workers reacted to the news with widespread strikes. The Observer’s Larry Elliot puts the Greek situation into context: As far as the European commission was concerned, matters were simple. By a mixture of incompetence and deceit, the Greeks had allowed their deficit to balloon out of control, putting the credibility of monetary union at risk. But the reality is more complex. A crisis that began with the previous government in Athens cooking the books developed into three interlocking themes – the reluctance of the Greeks to swallow the nasty budgetary medicine prescribed for them, the medium-term outlook for the single currency and Europe’s long-term role in a rapidly changing global economy. Nouriel Roubini, economics professor at the Stern School of Business at New York university, said in Davos last month: “If Greece goes under, that’s a problem for the eurozone. If Spain goes under, it’s a disaster.” He has been strongly advising the beleaguered socialist government of George Papandreou to seek help from Washington, a view shared by Harvard professor Kenneth Rogoff, former chief economist at the fund: “Greece is going to end up with an IMF programme of some sort in order to get credibility.” Rogoff, who has just published a book on eight centuries of financial crises, said that Greece was “a serial defaulter”. Since the modern Greek state was founded in 1830, the country has, on average, been in sovereign default every other year and had been through five big defaults in less than 200 years. “Greece has been worse than any Latin American country,” he adds. The IMF would probably already be involved were Greece outside the eurozone. But according to Charles Grant, director of the Centre for European Reform, the commission wants to keep the fund at arm’s length because it would give the Americans a say in single currency affairs, a blow to European pride. As Yves of Naked Capitalism puts it, ‘the (European) monetary union left a lot of critical issues and mechanisms in the “to be sorted out later” category, and “later” has arrived.’ In other words, keep an ear to the ground for political maneuvering. Those politics grow even more international if the US-influenced IMF wants in. Naked Capitalism’s Yves postulates that when you factor in the interdependency of all major international players, a fall in trade, perhaps not as dramatic as what occurred in the 1930s, may be a necessary element of a return to stability. No one seems to be thinking along those lines. And that increases the odds that we will get that result, not via design, but via protectionist responses that escalate into trade wars. So terms like “sovereign debt crisis” and “Greek bailout” might be misleading. We’re potentially dealing with a very international situation here.
Source: Business Pundit | 11 Feb 2010 | 10:08 am Elizabeth Warren: Will Anyone Be Doing Anything About The Impending CRE Sh*t Storm?
"The most serious wave of commercial real estate difficulties is just now beginning. Experts believe that the volume of bank write-downs and potential loan defaults may swell in the coming years, in the absence of a strong immediate improvement in the economy." Riiiight. Given that the unemployment rate is not likely to decrease anytime soon, that vacancy rates are increasing, that the economy's fundamentals remain weak and that between 2010 and 2014, about $1.4 trillion in CRE loans will reach the end of their terms, it's totally fine to write a 189-page exposé on the subject, but solutions anyone?
Source: Dealbreaker | 11 Feb 2010 | 10:00 am Are Chicks The Only Reason Anyone Cares About Bonuses?
This paper examines the extent to which human capital and career decisions are affected by their potential returns in the marriage market. Although schooling and career decisions often are made before getting married, these decisions are likely to affect the future chances of receiving a marriage offer, the type of offer, and the probability of getting divorced. Therefore, I estimate a forward‐looking model of the marriage and career decisions of young men between the ages of 16 and 39. The results show that if there were no returns to career choices in the marriage market, men would tend to work less, study less, and choose blue‐collar jobs over white‐collar jobs. Most Men Would Be Complete Slackers if They Didn't Have to Impress Women [Daily Intel]
Source: Dealbreaker | 11 Feb 2010 | 9:45 am Fashion designer McQueen found deadAlexander McQueen, the British fashion designer, has died aged 40. He was found dead in his home on Thursday morningSource: Financial Times - US homepage | 11 Feb 2010 | 9:31 am Shoveling And The Tragedy Of The Commons
A snowy lot in northern New Jersey. (DaCosta1/Flickr) David G. writes: You've done a number of episodes talking about the tragedy of the commons, and how it can be overcome without government intervention. While walking my dog around Philadelphia during the blizzard aftermath, I couldn't help but notice an interesting trend. Virtually all of the houses with a single occupant or family (as indicated by a single doorbell or knocker) were shoveled clean. Nearly every house with multiple occupants -- and most businesses -- were unshoveled. This seems like a TOTC in reverse: A common good that requires work to maintain is ignored if there is a diffusion of responsibility. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 11 Feb 2010 | 9:08 am FirstEnergy Buys Allegheny Energy
FirstEnergy, the country’s fifth-largest publicly held power company, is buying East Coast power company Allegheny Energy for $4.7 billion. The result will be one of the biggest utilities companies in the country. Reuters reports: The combined company would have a generation capacity of 24,000 megawatts and serve more than 6.1 million customers, the companies said on Thursday. Shares of Allegheny’s shares rose 12 percent, far short of the premium of 32 percent that FirstEnergy offered, indicating investor skepticism over a deal that faces regulatory hurdles both at the federal level and from state regulators. The merged company would operate in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, New York and Virginia. Regulators have held up utility deals in recent recent years on fears power prices for their residents will increase and quality of service will decline. FirstEnergy expects the deal to close in 12 to 14 months, although that may be an optimistic goal, one analyst said. Some might think that the last thing FirstEnergy needs is to get bigger (thanks to past problems). But I’ve never met a utility company that doesn’t like scale.
Source: Business Pundit | 11 Feb 2010 | 8:52 am Morning Report: European Leaders Pledge To Back GreeceBy Caitlin Kenney Leaders of the eurozone counties say they are willing to take "determined and coordinated action" to help Greece with its debt troubles. In negotiations led by German Chancellor Angela Merkel, Greek Prime Minister George Papandreou and European Central Bank President Jean-Claude Trichet, the countries called on Greece to eliminate its budget deficit by 2012. More from the Financial Times: [Herman Van Rompuy, the EU's permanent president] said eurozone finance ministers would formally endorse Greece's deficit-cutting plan at a meeting on Monday, February 15. The European Commission would "closely monitor" implementation in liaison with the European Central Bank and "drawing on the expertise of the International Monetary Fund". A first evaluation would take place next month. Mr Van Rompuy made clear that Greece had "not requested any financial support" from its fellow eurozone members. But the agreement lays out a set of guidelines that Greece will be expected to follow if it were to be given financial support, most probably from Germany, France and some other eurozone countries, at some stage in the future. "All euro area members must conduct sound national policies in line with the agreed rules," Mr Van Rompuy said. "We have a shared responsibility for the economic and financial stability in the area." Greece posted a budget deficit of 12.7 percent of gross domestic product in 2009. Its total debt is expect to equal 125 percent of its GDP this year. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 11 Feb 2010 | 8:13 am More Triple-Leverage ETF Launches (TQQQ, UDOW, UMDD, URTY, SQQQ, SDOW, SMDD, SRTY)Usually we think of Direxion in the world of triple-leverage and triple-inverse funds, but there are others. And now there are more… ProFunds Group is launching new Triple Leverage ETFs and Triple-Inverse ETFs. For triple leverage up, it is offering tracking returns for the NASDAQ-100, DJIA, S&P Mid-Cap 400, and the Russell 2000. Its Triple-inverse [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 7:49 am Women’s Group Lauds Reverse Discrimination At Major CompaniesReverse discrimination is alive and well among large corporations which offer access to women’s businesses that results in a high volume of commerce for female-controlled firms. The Women’s Business Enterprise National Council “Top Corporations” program honors companies for “world-class programs that create level playing fields for women’s business enterprises to compete for corporate contracts.” “Our Top Corporations are world-class leaders generating [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 7:38 am Today’s Best Market Rumors (2/11/2010) (NYT)(AAPL)Updated throughout the day. The Fed is in talks with money market funds to see if they will help to take $1 trillion out of the financial system (Bloomberg) Apple (AAPL) has set a deal with some TV networks to allow $1 per show downloads of programs to the iPad. (FT) AIG (AIG) is prepared to hire banker [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 11 Feb 2010 | 7:12 am Opening Bell: 02.11.10Bloomberg Xs & O (NYP) AIG Launches New System for Incentive Pay (Reuters) Credit Suisse swings to profit as inflows continue (MarketWatch) Wall Street's Biggest Bonuses Go To Not So Big Names (NYT) Global bank tax near, says Brown (FT) Gundlach Sues TWC For $1.25 Billion (NYT)
Source: Dealbreaker | 11 Feb 2010 | 7:00 am The Fantastic Journey of a FedEx Package
Source: Business Pundit | 11 Feb 2010 | 4:42 am
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