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Green trade shows are starting to feel recycledThe list of events aimed at eco-mongers is growingA cottage industry has sprouted in the environmental movement, but it has nothing to do with wind turbines or carbon offsets.
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am Short sales grow as a cheaper alternative to foreclosureBanks' resistance to the tricky transactions is softening as the number of distressed properties increases.Nineteen months ago, the recession took Bob Walker's job. Then, creditors lined up to take the three-bedroom hilltop home that the computer consultant shared with his wife, Stephanie, a playwright still looking for her first break.
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am Sony Pictures' David Bishop: In the thick of home entertainment's evolutionAs the industry undergoes major shifts in response to changing consumer habits, Bishop's unit is facing job cuts. He talks about the state of the business and where it's going.There's probably no tougher job at a studio right now than head of a home entertainment division.
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am One year later, political battle rages over stimulus' effectivenessMeanwhile, fresh data shows the U.S. economy continuing to make a gradual, if halting, recovery.One year after launching the largest federal economic stimulus program in American history, a fiercely partisan political battle continued to rage over its effectiveness even as fresh data showed the economy continuing to make a gradual, if halting, recovery.
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am 2 L.A. private equity firms adopt New York ethics code on placement agentsAres Management and Freeman Spogli had used intermediaries to secure business with the New York State Common Retirement Fund. New York Atty. Gen Andrew Cuomo says they have agreed to end the practice.Two Los Angeles private equity firms that did business with a New York state pension fund have adopted a code of ethics that prohibits the use of controversial sales intermediaries and bars campaign contributions to pension fund board members, New York Atty. Gen. Andrew Cuomo announced Wednesday.
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am FTC cracks down on scams targeting the unemployedThe agency says bogus job placement and work-at-home schemes are proliferating. It has asked federal courts to shut down seven entities charged with peddling such schemes.The Federal Trade Commission said Wednesday that it was cracking down on con artists who target the unemployed with bogus job placement and work-at-home scams.
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am M-m-m-my career in real estateSharona Alperin, who at 17 was the real-life inspiration for the 1979 Knack megahit, now sells high-end homes to celebrities.It was a No. 1 hit for the Knack -- and a career-maker for Sharona Alperin.
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am Stocks close higher on upbeat earnings, economic reportsNEW YORK -- The stock market has extended its advance to a second day after Deere & Co.'s earnings beat expectations and the government issued an upbeat housing report.Source: RSS feed - channel BNPaperBusiness | 18 Feb 2010 | 1:00 am Business BriefingPUBLISHING
Source: L.A. Times - Business | 18 Feb 2010 | 1:00 am 10 Things Your Cruise Line Won't Tell You (10 Things)Once they get you out to sea, do they keep their promises?
Source: SmartMoney.com | 17 Feb 2010 | 10:00 pm Summary box: Hewlett-Packard earnings (AP)AP - PUMPED-UP PROFIT: Hewlett-Packard Co.'s profit swelled 25 percent in the technology company's fiscal first quarter, which ended Jan. 31. Cost-cutting and a strong showing from the personal-computer division helped.Source: Yahoo! News: Business News | 17 Feb 2010 | 6:18 pm Judging stimulus: Jobless rate high, growth real (AP)
Source: Yahoo! News: Business News | 17 Feb 2010 | 6:12 pm Media Content’s $64,000 Question–How To Get PaidThe key to a media business model is the size of the market and the demographic of the consumer. eMarketer is forecasting the number of monthly Internet users in the US will increase from 221 million in 2010 to 250.7 million in 2014. The size of this consumer group is creating a larger audience which [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 6:09 pm AP source: US govt to investigate Toyota Corolla (AP)
Source: Yahoo! News: Business News | 17 Feb 2010 | 6:05 pm The Size Of Toyota’s Problem Moves Toward $10 BillionThe odds that one car company could have three unrelated large recalls of three different sets of vehicles within a month are probably 1,000 to 1. But, that is what will happen Toyota (TM) if ABC News reports are correct. “The National Highway Traffic Safety Agency will open an investigation into a possible flaw in the steering [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 6:04 pm BT should bite bullet on £9bn pension holeBT should bite the bullet on its pension deficit. The UK telecoms operator's 17-year plan to plug a £9bn funding hole on its £34bn scheme is weighing on the shares after BT admitted on February 11 that the UK pensions regulator felt uneasy about the agreement.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 6:04 pm Govt tips single regulator for capital marketsGovernment has released its response to a recent taskforce looking at New Zealand's capital markets, saying it wants to 'rebuild mum and dad investor trust'.One of the major steps it says it is now considering is the merging of...Source: nzherald.co.nz - Business | 17 Feb 2010 | 6:00 pm Not much to cheer on US stimulus anniversaryIt's an unhappy anniversary for the US stimulus program. President Barack Obama's year-old, $787 billion attempt to jump-start the economy promised more than it delivered.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 5:59 pm Simon tells General Growth to negotiate nowNEW YORK (Reuters) - Simon Property Group Inc stepped up pressure on General Growth Properties Inc on Wednesday, threatening to walk away from its $10 billion bid if its bankrupt rival did not begin talks soon.
Source: Reuters: Business News | 17 Feb 2010 | 5:58 pm Qantas results short of expectations, shares fallQantas posts a profit for the July-December period that falls short of expectations, and says it won't pay an interim dividend, citing a challenging operating environment.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 5:47 pm Obama claims stimuls averted ‘catastrophe’President Barack Obama vigorously defended his economic stimulus plan on the first anniversary of the controversial legislation, arguing that it averted ‘catastrophe’Source: Financial Times - US homepage | 17 Feb 2010 | 5:45 pm Toyota investigates Corolla steering problems (AP)
Source: Yahoo! News: Business News | 17 Feb 2010 | 5:42 pm Stocks to Watch: Stocks in focus for ThursdayAmong the shares expected to see active trade in Thursday’s session are those of Dell, Wal-Mart, CBS and Hormel.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 5:39 pm U.S. to investigate Corolla steeringThe U.S. will open an investigation Thursday to probe possible steering issues on about 500,000 Toyota Corollas.Source: Business and financial news - CNNMoney.com | 17 Feb 2010 | 5:35 pm 5 most (and least) affordable citiesSource: Business and financial news - CNNMoney.com | 17 Feb 2010 | 5:32 pm Hewlett-Packard earnings jump on strong PC salesTell bellwether beats estimates and raises its full-year outlook.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 5:31 pm Toyota to face fresh safety probeChief executive Akio Toyoda declines to testify before US Congressional committee probing the Japanese carmaker’s response to safety problemsSource: Financial Times - US homepage | 17 Feb 2010 | 5:30 pm Govt still pondering company tax cutsAligning the top personal, trust and company tax rates is still on the table, though a need to reduce the company rate even further might not make that possible, Finance Minister Bill English said today.The Government is considering...Source: nzherald.co.nz - Business | 17 Feb 2010 | 5:30 pm BofA counsel not fired for advice: SEC (AP)AP - Federal regulators say Bank of America fired its top lawyer in December 2008 before its takeover of Merrill Lynch simply to make way for another executive, and not because he had given the company legal advice it didn't want to hear.Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 5:27 pm HP benefits from recovering economyHewlett-Packard pointed to a strengthening recovery as it reported a 25 per cent rise in quarterly net income and raised its revenue and profit forecastsSource: Financial Times - US homepage | 17 Feb 2010 | 5:25 pm Toyota may recall Corollas over steering problems; U.S. to launch probeThe National Highway Traffic Safety Administration says it has had received about 150 complaints about the car's steering system. The probe would be its fifth open investigation of a Toyota vehicle.Reporting from Los Angeles and Washington Jerry Hirsch -- Adding to its growing safety woes, Toyota Motor Corp. is considering recalling the popular Corolla because of potential steering problems.
Source: L.A. Times - Business | 17 Feb 2010 | 5:09 pm We must seize this opportunity to shake up the regulatorsThe Treasury Select Committee has called for a closing of the regulatory gap in financial services.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 5:08 pm AIG drops derivatives portfolio sale planAIG has shelved plans to sell the whole of its derivatives portfolio, which nearly destroyed the insurer in 2008. It believes that keeping up to $500bn worth of complex positions could help it to survive as an independent entity and repay US taxpayersSource: Financial Times - US homepage | 17 Feb 2010 | 5:07 pm Big goalSri Lanka hopes sport industry will aid its recoverySource: BBC News | Business | World Edition | 17 Feb 2010 | 5:03 pm Ale changeThe microbreweries taking on the global beer giantsSource: BBC News | Business | World Edition | 17 Feb 2010 | 5:03 pm BBC viewers to catch up on the iPhone iPlayerThe BBC will launch its first applications for the iPhone, including the iPlayer catch-up television service, as it tries to replicate the popularity of its online content on mobile phones. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm People who aren’t even looking mask true jobless totalFresh evidence emerged yesterday that Britain’s labour force is shrinking rapidly — and is acting as a brake on the rate of rising unemployment. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Burberry pulls the plug on special range for SpainBurberry is to close its standalone Spanish business as it restructures during one of Europe’s fiercest recessions. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Look at the whole package for Rexam’s true valueGraham Chipchase, the newly installed chief executive of Rexam, has managed to keep a lid on the packaging company’s substantial debt pile, but investors are still proving wary. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Councils' consortium will cut insurance costsA group of 18 district councils in the South West of England have joined forces to buy their annual insurance in a pioneering first that could save them hundreds of thousands of pounds. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Mandelson’s last-minute dash to try to save fated steelworksLord Mandelson and his deputy will embark today on a two-pronged approach to try to persuade Corus to sell its Teesside steel works, which is due to be mothballed tomorrow with the loss of 1,600 jobs. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Business Big Shot: Tim Eggar, former Energy MinisterIt has been 13 years since Tim Eggar left front-line politics, but the former Energy Minister is poised to make an unexpected comeback. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Stelios raises £5m pledging shares to UBSCould it be to buy some property in a chi-chi corner of Chelsea? Or could it be to fund his forthcoming legal battle with Michael O’Leary, the chief executive of Ryanair? Whatever the reason, Sir Stelios Haji-Ioannou has lodged 1.3 million easyJet shares with UBS in return for £5 million. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Insider deal profit handed over in envelopes full of cash, court toldA former partner at Cazenove, the Queen’s stockbroker, was given his share of the profits from an insider-dealing scam in envelopes full of cash at a racecourse, a court heard yesterday. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm The private cost of public savingsThe plan by 18 English local councils to club together to buy their insurance may look a modest proposal. It could trim perhaps £100,000 from each authority’s annual premiums. Source: Latest Business News from Times Online | 17 Feb 2010 | 5:01 pm Michael Hill happy despite profit fallMichael Hill International's half-year profits have plunged 66 per cent on the previous period, but the jeweller is reasonably pleased with the result in tough trading conditions.Michael Hill, which has 242 shops in New Zealand,...Source: nzherald.co.nz - Business | 17 Feb 2010 | 5:00 pm HP raises 2010 outlook as results beat Street viewSAN FRANCISCO (Reuters) - Hewlett-Packard Co posted better-than-expected results on strong server and personal computer sales and a resurgence in its printing business, and the company raised its full-year outlook.
Source: Reuters: Business News | 17 Feb 2010 | 4:58 pm CA-CANADA Summary (Reuters)Reuters - The Bank of Canada says it may retain in its toolbox some of the emergency liquidity facilities it introduced during the financial crisis, but markets should not expect it to use them in normal times.Source: Yahoo! News: Business News | 17 Feb 2010 | 4:46 pm Reporter roughed up by Apple supplierKicked and dragged for taking photos of a Foxconn plant from a public road in ChinaSource: Business and financial news - CNNMoney.com | 17 Feb 2010 | 4:37 pm Va. businessman accused of fraud arrested in Texas (AP)AP - A Lamborghini-driving steakhouse owner who disappeared after being accused of cheating banks out of tens of millions of dollars was arrested in Texas and returned to Virginia as federal prosecutors pursue fraud charges.Source: Yahoo! News: Business News | 17 Feb 2010 | 4:35 pm Abu Dhabi increases stake in BarclaysAbu Dhabi has raised its stake in Barclays to 5.2pc by paying £1.2bn to exercise warrants it took as part of a controversial fund-raising by the bank two years ago.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 4:35 pm US energy chief struggles to shift debateSteven Chu, the Nobel prize-winning physicist, is fast discovering that science is not enough when it comes to winning the climate change debate in Washington, writes Anna FifieldSource: Financial Times - US homepage | 17 Feb 2010 | 4:32 pm Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 4:31 pm Write-Offs: 02.17.10$$$ You should all sign up for the worthy cause to Save Lucas Van Praag! [Daily Intel] $$$ Rajaratnam Trial Is Set for October [WSJ] $$$ Ron Perelman Prefers His Own Private Synagogue [NYO] $$$ Politicians Slow To Repay Tainted Stanford Donations [NPR] 
 Source: Dealbreaker | 17 Feb 2010 | 4:30 pm US Fed officials ponder reeling in stimulus soonWASHINGTON - With the US economy healing, Federal Reserve officials debated last month when to reel in the extraordinary stimulus aid they injected into the economy. Some officials wanted to start selling assets on the Fed's books...Source: nzherald.co.nz - Business | 17 Feb 2010 | 4:30 pm After Hours: Priceline, H-P shares rise in late tradesPriceline shares surge and H-P's advance as investors react to the tech heavyweight's higher yearly outlook. But Las Vegas Sands shares struggle after results.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 4:29 pm Disease sends salmon prices leapingPrices have risen 20% as Norway has to take up slack after anaemia virus devastates Chilean stocksVirus devastates Chilean stocksSource: Financial Times - US homepage | 17 Feb 2010 | 4:23 pm HP beats expectations, boosts outlookShares of Hewlett-Packard rose 2.3% in after-hours trading Wednesday after the computer and printer maker said its quarterly results beat Wall Street's expectations as both businesses and consumers got back into IT spending during the holiday period.Source: Business and financial news - CNNMoney.com | 17 Feb 2010 | 4:21 pm Heinz raises EPS forecast, Campbell cuts sales viewBOCA RATON, Florida (Reuters) - H.J. Heinz Co raised its 2010 earnings forecast, helped by strength in emerging markets, while U.S. foodmaker Campbell Soup Co cut its sales forecast as frugal U.S. consumers shunned ready-to-eat soup.
Source: Reuters: Business News | 17 Feb 2010 | 4:11 pm Argentina turns up the heat on Britain over Falklands (AFP)
Source: Yahoo! News: Business News | 17 Feb 2010 | 4:08 pm $2.9 million fine proposed against American EagleThe Federal Aviation Administration proposed Wednesday that American Eagle Airlines, a division of AMR, be given a $2.9 million civil penalty for alleged maintenance violations.Source: Business and financial news - CNNMoney.com | 17 Feb 2010 | 4:05 pm China fund in private equity pushChina Investment Corp has agreed to invest $1.5bn in the private equity secondary market with three of the biggest specialists in buying second-hand buy-out and venture capital fund interestsSource: Financial Times - US homepage | 17 Feb 2010 | 4:05 pm Fed thinking of selling debt to withdraw stimulusWASHINGTON (Reuters) - Several Federal Reserve policy makers want to begin selling securities relatively soon to cut back the U.S. central bank's massive help to the financial system as the economy finds a footing, the Fed said on Wednesday.
Source: Reuters: Business News | 17 Feb 2010 | 4:02 pm How the major stock indexes fared on Wednesday (AP)AP - A stream of good news has the stock market back on an upward path.Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 4:00 pm Skellerup claws out of recessionSkellerup Holdings, the agricultural and rubber goods maker, has begun to pull out of the worst impacts of the global recession, reporting a $3.28 million net profit after tax for the six months to December 31.While that's a 48.8...Source: nzherald.co.nz - Business | 17 Feb 2010 | 4:00 pm Emerging Markets Report: Russia gears up to tap foreign debt marketsOil-rich Russia is gearing up to tap the international bond markets for the first time since 1998, just as the debt woes of Greece and other European countries continue to rattle confidence on trading floors across the continent.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 4:00 pm Iraq lessons can guide Afghan surgeAs US forces fight to clear Taliban militia from the town of Marjah in Afghanistan's Helmand province, commanders need to look again at what we learnt in Iraq. A key cause of success in that country came...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 3:57 pm MarketWatch First Take: H-P might want to thank MicrosoftHewlett-Packard Co. might want to send Microsoft Corp. a big thank-you note for giving its bottom line a nice boost for its recently ended quarter.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 3:52 pm Latin American Markets: Brazil stocks close higher after Carnival breakBrazilian stocks climb, with investors returning to the market after a holiday break to find data about economic improvement in the U.S. and nerves somewhat calmed over the debt troubles plaguing Greece.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 3:52 pm Stocks extend gain on good economic, earnings news (AP)AP - WHAT IMPRESSED INVESTORS: News that housing and manufacturing showed more improvement last month convinced the market that the economic recovery is progressing.Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 3:51 pm Siebert on U.S. Reform; Peak Oil, Foreclosures: Taking StockSource: Bloomberg - All Podcasts | 17 Feb 2010 | 3:49 pm Jack in the Box profit slumps, unemployment blamedDragged down by slumping same-store sales, the fast-food chain posts a sharp drop in fiscal first quarter profit.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 3:49 pm More problems on XT mobile networkTelecom has added Wairarapa to its list of regions affected by XT disruptions.Earlier today the company announced it was having more problems with its troubled XT mobile network.The company posted on Twitter at 10.30am that...Source: nzherald.co.nz - Business | 17 Feb 2010 | 3:48 pm Heavy price of misruleWe seem condemned to months of largely irrelevant election campaigning. Britain is in economic and political crisis but there is nothing to suggest that our leaders will rise to the occasion. The current...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 3:47 pm Stocks extend gainsStocks gained Wednesday as investors considered a better-than-expected housing report, a mixed forecast from the Federal Reserve and some upbeat company news.Source: Business and financial news - CNNMoney.com | 17 Feb 2010 | 3:46 pm Stocks climb on upbeat earnings, economic reports (AP)
Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 3:44 pm George Soros buys gold despite dubbing it 'ultimate bubble'George Soros doubled his investment in the world's largest gold fund - just weeks before claiming investing in the precious metal is now the "ultimate bubble".Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 3:44 pm FAA eyes $2.9 million fine for American Eagle unitWASHINGTON (Reuters) - The U.S. Federal Aviation Administration on Wednesday proposed a $2.9 million civil penalty against American Eagle Airlines for using airplanes with improper repairs that compromised safety.
Source: Reuters: Business News | 17 Feb 2010 | 3:43 pm Stocks up with sovereign debt fears on holdGlobal Markets Overview: Traders continue to favour riskier assets as investors switch their focus to growing signs of economic recovery, buoyed by a generally supportive set of US corporate earningsSource: Financial Times - US homepage | 17 Feb 2010 | 3:41 pm Harvard University Invests in Foreign Markets Via ETFs: AudioSource: Bloomberg - All Podcasts | 17 Feb 2010 | 3:39 pm SanDisk Raised to `Overweight' at Morgan Stanley: AudioSource: Bloomberg - All Podcasts | 17 Feb 2010 | 3:37 pm Deere ups view as corn, soy and pulp prices riseDeere posts 19% growth in net profit for the first quarter, as management revises its financial forecast for fiscal 2010 higher. Shares jump 5% on the report.
Source: MarketWatch.com - Top Stories | 17 Feb 2010 | 3:36 pm US unemployment 'to stay high'US unemployment will remain high this year, the Federal Reserve warns, despite the economy growing strongly.Source: BBC News | Business | World Edition | 17 Feb 2010 | 3:34 pm Duane Reade shoppers hope chain keeps identityNamed after two downtown city streets 50 years ago, Duane Reade is ubiquitous in parts of New York City yet exists nowhere else. Shoppers wondered Wednesday how the acquisition of the...Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:34 pm Deere beats and raises outlook; shares riseCHICAGO (Reuters) - Deere & Co posted higher-than-expected earnings, sending its shares up 5 percent, as wider margins at its farm equipment and finance units helped it to overcome challenging economic conditions.
Source: Reuters: Business News | 17 Feb 2010 | 3:33 pm Gov't mortgage plan aids 12 percent of borrowers (AP)AP - The government's mortgage relief plan has helped only about 12 percent of borrowers who signed up since President Barack Obama announced the program a year ago.Source: Yahoo! News: Business News | 17 Feb 2010 | 3:32 pm Freedom under threat in Sri LankaAs one drives towards Sri Lanka's war-torn northern Jaffna Peninsula on the A9 Highway, the island's main north-south arterial road, the landscape takes on echoes of the Somme, the French battlefield of...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 3:31 pm What did the Capital Market taskforce recommend?The Capital Market Taskforce (CMD) made a series of recommendations in an attempt to restore confidence in capital market investment following the global financial crisis and the collapse of numerous finance companies.Its report...Source: nzherald.co.nz - Business | 17 Feb 2010 | 3:30 pm Who is the Capital Market Development Taskforce?The Capital Markets Taskforce(CMD) was a group formed in response to the financial crisis in July 2008. The members include investment bankers, economists and Government advisers. They released aSource: Business and financial news - CNNMoney.com | 17 Feb 2010 | 3:27 pm Toyota chief blames lack of staff training for recall fiascoToyota's president Akio Toyodo made the admission as he came under fire for side-stepping an invitation to appear before US politicians.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 3:27 pm Summary Box: Chesapeake Energy posts 4Q lossDRILL DEEP: Discounting the charges, Chesapeake said it would have made $490 million in the quarter as production rose 13 percent from the year-ago quarter. THE OUTLOOK: Production...Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:27 pm Duane Reade NYC shoppers hope chain keeps identityThe Duane Reade drugstore chain is ubiquitous in parts of New York City yet exists nowhere else. Now that Walgreen has announced it will buy the chain, Duane Reade shoppers are wonderingSource: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:25 pm SEC's BofA accord up in air, Cuomo to provide details (Reuters)
Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 3:23 pm Brian Moynihan Was Outta Bank Of America 'Til Management Offered Him The Job No One Wanted
Source: Dealbreaker | 17 Feb 2010 | 3:23 pm One year later: 116,000 get mortgage helpOne year after President Obama unveiled an ambitious plan to help struggling homeowners, more than 116,000 borrowers have received long-term reductions in their mortgage payments through January.Source: Business and financial news - CNNMoney.com | 17 Feb 2010 | 3:23 pm AP source: US govt to investigate Toyota CorollaA Transportation Department official says the department plans to open a formal investigation into the 2009-2010 Toyota Corolla over potential problems with the car's power steering. TheSource: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:20 pm Walgreen to buy Duane Reade in New York expansionNEW YORK (Reuters) - Walgreen Co will buy Duane Reade for $618 million in cash, catapulting the largest U.S. drugstore operator into the top spot in New York City and raising the stakes for rivals like CVS Caremark Corp .
Source: Reuters: Business News | 17 Feb 2010 | 3:14 pm Summary Box: Commodities mixed as dollar risesWHY DIDN'T GOOD ECONOMIC NEWS LIFT COMMODITIES: Investors were more concerned with the rising dollar and the possibility of higher interest rates than news of improvements in housing and...Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:12 pm Deere, Walgreen, ArvinMeritor are big moversStocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Deere & Co., up $2.70 at $56.48 The maker of iconic green...Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:11 pm Deere, Walgreen, ArvinMeritor are big movers (AP)AP - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 3:11 pm Some Fed officials favor reeling in stimulus soon (AP)
Source: Yahoo! News: Business News | 17 Feb 2010 | 3:09 pm China seen allowing stronger yuan in 2010WASHINGTON (Reuters) - Beijing is likely to let its currency begin rising in value again this year in response to growing pressures at home and abroad, two U.S. private sector specialists on China said on Wednesday.
Source: Reuters: Business News | 17 Feb 2010 | 3:09 pm Jeffrey Gundlach Cracked His Rib "Tripping Over A Computer Cable"
* The fact that he is, as previously stated, a genius: "I am amazingly brilliant analytically," says Gundlach, a wiry man whose short brown hair hugs his skull like a helmet. * That the drugs, paraphernalia ("bearing evidence of recent use"), 12 sexual "devices," 34 "hardcore pornographic magazines," and 36 "hardcore sexually explicit DVDs and videocassettes" found in his former offices at TCW were nothing, and that attempts to use them in order to make him look bad were cheap, since it's not like he had them scattered about the place.
Source: Dealbreaker | 17 Feb 2010 | 3:08 pm Reject ad hoc, national financial reformsAs countries around the world get down to the serious work of reforming their financial systems, the need for greater international co-ordination looms large. The imperative to fix the failed regulatory...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 3:08 pm Dollar gains on Fed views of stubborn unemploymentThe dollar recouped losses Wednesday after the Federal Reserve predicted unemployment will stay high over the next two years. Meanwhile, better-than-expected U.S. economic reports on...Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:05 pm Tomato pickers to get higher wages under dealFlorida tomato growers have finally agreed to help pickers earn more by passing on extra wages offered by major food chains such as Burger King, Subway and Taco Bell. For years the...Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:05 pm Agriculture futures trade mixed on the CBOTAgriculture futures were mixed Wednesday on the Chicago Board of Trade. Wheat for March delivery dropped 10.25 cents to $4.9475 a bushel, while March corn slid 7.25 cents to $3.60 a...Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:04 pm Langholm Capital-owned Tyrrells enjoys crisp salesTyrrells Potato Chips served up a tasty 20pc rise in revenues last year to £15.5m on higher exports and growing sales to large retailers.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 3:03 pm Gallo: French courts rule supplier sold fake wineCalifornia-based E. & J. Gallo Winery says a French court has convicted one of its suppliers of selling mislabeled Pinot Noir to the San Joaquin Valley (san wah-KEEN') winemaking empire.Source: RSS feed - channel BNewsBusiness | 17 Feb 2010 | 3:03 pm Asia becomes more important for Kiwi trade, says new surveyA survey released this week is showing that New Zealanders see Asia as increasingly important for trade.The results of the Asia New Zealand Foundation survey were released today and reveal that 81 per cent of respondents felt...Source: nzherald.co.nz - Business | 17 Feb 2010 | 3:00 pm Company results, data lift Wall St; HP rises lateNEW YORK (Reuters) - Stronger-than-expected corporate results and upbeat economic data drove U.S. stocks higher on Wednesday as they fed expectations the recovery will bolster corporate profits.
Source: Reuters: Business News | 17 Feb 2010 | 2:58 pm Company results, data lift Wall St; HP rises late (Reuters)
Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 2:58 pm America is in need of a pep talk from its presidentWe expect our political leaders to manage the level of economic activity by employing fiscal and monetary tools such as...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 2:51 pm Daniel Ek profile: 'Spotify will be worth tens of billions'Spotify's founder Daniel Ek explains why solving the piracy problem puts his company in pole position for a share the 'soon-to-be $50bn' music industry .Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 2:34 pm Presented By:Source: Dealbreaker | 17 Feb 2010 | 2:29 pm Charlie Gasparino Is Hearing Things About Tiger Woods
I have been speaking with sponsors who say they have been alerted by his reps that a public apology from Tiger Woods is imminent. It could occur as early as tomorrow sometime around 11am, and that there's going to be an announcement of the public apology that will be done at a press conference some time tonight. Now like I said, we don't have this yet from Tiger's representatives. Tiger Woods To Make Public Apology And Return To Golf (Update) [Mediaite via DI]
Source: Dealbreaker | 17 Feb 2010 | 2:29 pm Is Italy Europe's Bigger Problem?By Daniel Costello Nobel-winning Columbia professor Robert Mundell, considered the "father of the euro," said in an interview this week that Greece isn't Europe's biggest problem these days. He believes that honor goes to Italy. Mundell warned that Italy's debt -- which amounts to one quarter of the entire Eurozone's debt -- could create havoc if markets lose confidence in the Italian government's ability to pay its bills. That could lead investors to worry about the health of Europe as a whole and leave the entire region destabilized. Mundell won the Nobel Prize in 1999 for research that helped lay the foundation for Europe's single currency. "Italy has got to be worried," Mundell said in a television interview . "If Italy became a target then this would create a big problem for the euro. Whatever is being done to Greece, possibly to Portugal and maybe Ireland, has to also save Italy from that problem." The Italian economy, Europe's fourth-biggest, risks falling back into recession after contracting 0.2 percent in the fourth quarter. Debt will rise this year to 117 percent of gross domestic product, the second highest in the EU after Greece, according to the European Commission. Italy's high debt level would create problems for the entire euro region if rising financing costs make it difficult to service the country's borrowing, Mundell said. Italy has about 1.8 trillion euros ($2.5 trillion) in debt, more than five times that of Greece and the equivalent of about a quarter of the euro zone's debt. If markets were to lose confidence in Italian public finances, then the European Central Bank would have its hands tied by the Maastricht Treaty, which says the central bank must orient monetary policy exclusively toward keeping inflation under 2 percent. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 17 Feb 2010 | 2:18 pm Hewlett-Packard Proves Bull Case For TechBy some measures, Hewlett-Packard (NYSE:HPQ) is the largest technology company in the world, with annual sales well over $100 billion. The diversity of its business which include software, PCs, printers, servers and consulting make is a nearly perfect measure for the state of the industry. HP net incomes rose 20% for its fiscal first quarter to $3 [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 2:18 pm Haverty Furniture chairman retiring in May (AP)AP - Furniture retailer Haverty Furniture Cos. said Wednesday Clarence H. Ridley will retire from his post as non-executive chairman and board member in May.Source: Yahoo! News: Business News | 17 Feb 2010 | 2:17 pm UK unemployment figures raise fears of double-dip recessionThe number of people claiming jobless benefits in January jumped to the highest level since April 1997.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 2:17 pm Video: Behind the Scenes at Fashion Week
Not suprisingly, the recession has been brutal for the fashion business. I hung out with Samanta Cortes, the CEO of Fashion Design Concepts who told me economic downturn was so crippling she is considering closing up shop. Today she has 5 part-time employees and an eviction notice, which she hopes to avoid with the money she makes during Fashion Week. Bryant Park is located in the old Garment District, which amazingly, up until the early 1960s produced 95 percent of all the clothing worn by Americans. Since then rising rents and fierce foreign competition forced the majority of manufactures out of Manhattan. The firms that survived and thrive today typically cater to a luxury or niche market. The textile work she does might be done more cheaply in China. But there's a market here for quick turnaround jobs, especially this week. "A piece will literally leave my office and in an hour or two be on the runway," Samanta said. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 17 Feb 2010 | 2:11 pm Does Bank Of America Hate Black People? One Former Employee Says YesA former Bank of America employee, Jack Mitchell, is suing the bank for $60 million for racial bias. Mitchell, an African-American, alleges in the lawsuit that BofA "supported and propagated a racially biased and discriminatory business allocation system." Christopher Brennan, Mitchell's attorney, tells us that the system was "akin to apartheid." "It wasn't an accident, It's a cynical belief on the part of BofA that white customers wouldn't want to receive banking and investment advice from African-American employees, so they assigned them to minority neighborhoods. And because these are in low-income areas, it placed him at a disadvantage compensation-wise because he had less access to high-net-worth clients who are the particular target of his banking area."
Source: Dealbreaker | 17 Feb 2010 | 2:08 pm Bonus Watch '10: UBSFrom an unhappy tax evasion specialist: Wealth Management: 50% cuts on top of 50% cut from last year. No raises. Shit is a moratorium.
Source: Dealbreaker | 17 Feb 2010 | 2:04 pm Economic policies look impotent in calming the stormIt is still too soon to talk of another bear market, but nobody could have failed to notice that over the past month the great stock market rally of last year has run out of steam.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 17 Feb 2010 | 1:59 pm Watch out for new credit card trapsIf you haven't heard, big changes are soon coming for the credit card business.Source: Business and financial news - CNNMoney.com | 17 Feb 2010 | 1:49 pm The lending crunch: 'It is very hard to survive'Small business loans continue to dry up at the nation's biggest banks. Eleven top TARP recipients -- including Wells Fargo, by far the nation's largest lender to small companies -- cut their collective small business loan balance by more than $2.3 billion in December, according to a Treasury report released late Tuesday.Source: Business and financial news - CNNMoney.com | 17 Feb 2010 | 1:47 pm SA economy 'to grow 2.3% in 2010'The South African government expects the country's economy to grow by 2.3% this year, helped in part by the summer's football World Cup.Source: BBC News | Business | World Edition | 17 Feb 2010 | 1:33 pm Merkel hits out at banks over Greek dealsThe German chancellor criticises investment banks that may have helped Athens to disguise mounting budgetary problems over the yearsSource: Financial Times - US homepage | 17 Feb 2010 | 1:22 pm FOMC Minutes Imply Beginning of Fed Exit StrategyThe minutes of January’s FOMC meeting show no expectation that rates nor inflation are soon to explode higher. But what is becoming more and more evident that this near-zero rate policy is starting to have run its course. The expectation is now for 3.2% economic growth in 2010, up from about 3% expected just in [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 12:46 pm UK summons Israeli ambassador over ID theftGordon Brown refrains from blaming any state for the killing of a Hamas leader in Dubai as he pledges an investigation into the use of fraudulent British passportsSource: Financial Times - US homepage | 17 Feb 2010 | 12:37 pm Shaving Efficiently (Part 2)By David Kestenbaum In our podcast last week efficiency expert Matt Leblanc told us he sometimes has a bit of a problem separating work and home life. One example: he strategically organizes his toiletries so he can get through his morning routine with maximal efficiency. I realize I'd forgotten what must be the most popular account of the profession; the book "Cheaper By the Dozen" written by two (of the twelve) children of Frank and Lillian Gilbreth, industrial engineers who pioneered the fields of "motion study" and "scientific management." I typed in an excerpt for you amusement: Dad always practiced what he preached, and it was just about impossible to tell where his scientific management company ended and his family life began... Dad installed process and work charts in the bathrooms. Every child old enough to write--and Dad expected his offspring to start writing at a tender age--was required to initial the charts in the morning after he had brushed his teeth, taken a bath, combed his hair, and made his bed. At night each child had to weigh himself, plot the figure on a graph, and initial the process charts again after he had done his homework, washed his hands and face, and brushed his teeth. Mother wanted to have a place on the charts for saying prayers, but Dad said as far as he was concerned prayers were voluntary.... I'm putting together a radio version of the podcast for All Things Considered. If you have any personal anecdotes of ways unsual ways you try to save time we'd love to hear them. » E-Mail This » Add to Del.icio.us
Source: NPR Blogs: Planet Money | 17 Feb 2010 | 12:33 pm Burberry to cut 300 jobs in SpainLuxury fashion designer Burberry says it is restructuring its loss-making Spanish operations, resulting in the loss of 300 jobs.Source: BBC News | Business | World Edition | 17 Feb 2010 | 12:33 pm Rick’s Now King of Public Strip Clubs (RICK, VCGH)Rick’s Cabaret International Inc. (NASDAQ: RICK) is seeing its shares take a breather after earnings. The news is not just that revenues grew by almost 17% to $20 Million, nor that its net income was impacted by aggressive marketing and acquisition costs. The real news is that Rick’s is acquiring rival VCG Holding Corp. (NASDAQ: [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 12:25 pm Barnes & Noble rejects Burkle's bid to raise stakeNEW YORK -- Barnes & Noble has rejected a request by major shareholder and Los Angeles billionaire Ron Burkle to raise his stake in the book retailer without triggering its shareholder-rights plan...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 12:22 pm Help! National Trust may launch campaign to buy Abbey RoadThe National Trust confirms it may launch a campaign to buy the threatened Abbey Road Studios.Source: BBC News | Business | World Edition | 17 Feb 2010 | 12:07 pm Stocks rally on corporate earnings hopes18:30 GMT. Receding fears about sovereign debt default contagion and optimism on corporate earnings saw traders continue to favour riskier assets on Wednesday. The FTSE World equity index rose...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 11:49 am Housing Starts: A Multi-Family AffairThe US government has just issued housing reports. Housing starts rose to a seasonally adjusted 591,000 equating to a 2.8% increase. That is the best report we have seen since last summer. This data proved good enough a for a market rally this morning. Does this point to the end of bad housing data? A [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 11:47 am Changing Solar Sentiment Into First Solar Earnings (FSLR, JASO, TAN, PBW, WFR, ENER, SPWRA)This will not be the first time you have heard this statement from 24/7 Wall St… “Solar stocks may be nothing more than leveraged bets that react to sudden price moves in the price of crude oil.” First Solar, Inc. (NASDAQ: FSLR) is the leader of the solar power sector, and it is due to [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 11:46 am Stiglitz, Wachter, Wei on Economy, Jobs, China: On the EconomySource: Bloomberg - All Podcasts | 17 Feb 2010 | 11:27 am 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 | 17 Feb 2010 | 11:26 am China Sells TreasuriesBy Daniel Costello A record drop in foreign holdings of U.S. Treasury bills in December is raising concern a waning appetite for U.S. debt could push up interest rates and weaken a fragile U.S. recovery. The Treasury Department said this week foreign holdings of U.S. Treasury bills fell by a record $53 billion in December. That topped the previous record drop of $44.5 billion in April 2009. China fell behind Japan to move back to its previous spot as the second-biggest holder of U.S. Treasuries, in a potential warning the Chinese are growing tired of complaints about its trade policies and worried about record-high U.S. budget deficits. Should foreign investors sell significant U.S debt, the price of government notes and bonds would fall and interest rates paid on everything from mortgages to credit cards could rise. Still, some economists doubt the recent drop in foreign holdings of short-term Treasuries signifies unease about holding U.S. debt. The U.S. Treasury disclosed this week net purchases of longer-term Treasury debt rose in December by $70 billion. Others see hints of a growing trend. After all, China has sold nearly $45 billion in Treasury debt over the past five months. On another note: in looking at the data, I was confused how Britain and Japan both increased their U.S. debt so significantly. The two were the largest net buyers of Treasuries last year. Considering the U.K. has huge levels of debt and is spending large sums on its economic bailout and Japan continues to confront serious economic problems, how could they afford to spend so much cash? Anyone have ideas? » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 17 Feb 2010 | 11:25 am Lessons from Europe's debt crisisFears about the state of peripheral eurozone countries have been shaking the markets. Commentator David Frum says President Obama should be paying close attention to how European leaders are managing the crisis.Source: Marketplace | 17 Feb 2010 | 11:21 am Cash for Work helps Haitians rebuildHaiti's unemployment rate was already above 50% before the earthquake hit. Now some organizations are investing in cash-for-work programs that give Haitians much-needed training and jobs. Sabri Ben-Achour reports.Source: Marketplace | 17 Feb 2010 | 11:21 am A foreclosure of Olympic proportionsThe owners of Whistler Blackcomb ski resort, which is hosting many Olympic events, are behind in their debt payments. Creditors say they're going to foreclose. Nancy Marshall Genzer reports.Source: Marketplace | 17 Feb 2010 | 11:21 am Value takes center stage in fashionThe Wall Street Journal's Ray Smith talks with Kai Ryssdal about the mix of luxury and affordability on display in the fashion world these days.Source: Marketplace | 17 Feb 2010 | 11:20 am Co. Springs budget woes lead to cutsColorado's state constitution makes it hard to raise taxes, so city officials in cash-strapped Colorado Springs have found some attention-getting ways to cut spending. Zachary Barr reports.Source: Marketplace | 17 Feb 2010 | 11:20 am What can budget commission achieve?The Senate nixed a proposal to create a bipartisan commission suggesting ways to cut the budget deficit, so President Obama will create one by executive order. Brett Neely reports.Source: Marketplace | 17 Feb 2010 | 11:20 am JPMorgan: Regulation increases costsTighter regulation is supposed to be the price of making the banks stable and taxpayers whole, but JPMorgan Chase is warning it will also bring a much higher cost of doing business. Bob Moon reports.Source: Marketplace | 17 Feb 2010 | 11:20 am Walgreens buys Duane Reade for $1.1bWalgreens is acquiring Duane Reade, a local drugstore chain that dominates the New York market. But if there are so many of these stores out there, how do they make any money? Alisa Roth reports.Source: Marketplace | 17 Feb 2010 | 11:20 am Wall St buoyant as Greek debt fears recedeEncouraging January housing starts figures, better-than-expected earnings and receding fears on the Greek sovereign debt situation helped boost risk appetite on Wednesday and sent US stocks higher for...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 11:03 am For Apple suppliers, loose lips can sink contractsLONGHUA, China /TAIPEI (Reuters) - The massive manufacturing complex in the South China city of Longhua resembles an industrial fortress. To enter the facility, workers swipe security cards at the gate. Guards check the occupants of each vehicle with fingerprint recognition scanners.
Source: Reuters: Business News | 17 Feb 2010 | 10:51 am Icap launches electronic oil tradingIcap, the inter-dealer broker, on Tuesday announced that it would launch a new electronic oil swap trading service. The move comes as big industry operators look to pre-empt regulations that will...Source: RSS feed - channel BNPaperBusiness | 17 Feb 2010 | 10:23 am FTSE 100 climbs as Greek debt fears ease (AFP)
Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 10:21 am Minneapolis Fed Chief: Look How Far We've Come
Source: Dealbreaker | 17 Feb 2010 | 10:20 am Barclays Chief: Give It Up For BarclaysHey hey hey! Who's psyched about Barclays' record earnings that were announced today? Anyone? Anyone? Are you? Are you? Bob Diamond certainly doesn't sense your excitement. Prove it to Bobby D. Show him you're amped! He needs to feel it. In fact, that's an order, straight from the top. Raise the fucking roof for the Barclettes.
Source: Dealbreaker | 17 Feb 2010 | 10:12 am Argentina steps up Falklands rowArgentina announces new controls on shipping en route to the Falkland Islands in a growing row over UK oil drilling plans.Source: BBC News | Business | World Edition | 17 Feb 2010 | 9:59 am The Business of Sex TraffickingSex trafficking is a criminal business in which women and children are forced or coerced into providing sex services. An estimated 2.5 million people are victims of this modern-day form of slavery which has grown into an ugly and sophisticated $50 billion world wide business. Human trafficking is the fastest growing criminal industry in the world, despite the Protocol to Prevent, Suppress and Punish Trafficking in Persons, which went into effect on December 25, 2003. click to enlarge
Source: Business Pundit | 17 Feb 2010 | 9:55 am Lucas Van Praag's Secret Weapon
Source: Dealbreaker | 17 Feb 2010 | 9:53 am Losing 15lbs Eating Only McDonald’s: An InterviewIf 2010 gifted you with a spare tire of the corporeal kind, welcome to the club. More so if you want to work and diet that extra weight off. Every year, Americans spend billions trying to cultivate a decent figure. In that sense, Doug Logeias is a typical American. Tired of his old appearance, this San Diego day spa manager and aspiring motivational speaker decided to lose weight one day. What makes him stand out is how he did it. Like most dieters, Doug started an intense exercise regimen and went on a restrictive diet. That diet, however, came from a place many dieters avoid like the plague: McDonald’s. Doug’s intense 30-day diet “was like the Benjamin Button version of Supersize Me,” Doug told me in a recent interview. By the end of the month, Mickey D’s had helped Doug lose an impressive 15 pounds.
Doug’s choice of weight-loss methods had an entrepreneurial slant. Jared Fogle, the overweight man who escaped obesity by eating only Subway food, paved the way for a new kind of fast-food spokesperson, a sort of independent contractor who, after experiencing success with their food experiment, gleans company support and sponsorship. More recently, a woman named Christine lost 54 pounds on a diet including Taco Bell’s Fresco menu. Doug wanted to prove, among other things, that he could lose weight eating food served by what is perhaps the most demonized fast food restaurant in the country. He hatched a plan to turn his weight loss “adventure,” as he calls it, into a documentary. He envisioned writing a weight loss book. He even landed an appearance on the Rachael Ray show in New York. There was only one problem: McDonald’s. Despite Doug’s repeated attempts to garner their support, the company remains nonchalant. “McDonald’s always said ‘it’s our policy to remain independent of your project,’ and good luck to you, and that’s the end of the story,” says Doug. Despite continued company resistance, Doug is still championing his cause. He is full of promotion ideas, including a 30-day weight loss challenge where Doug, Subway’s Jared and Taco Bell’s Christine are pitted against each other, Biggest Loser-style. Although his biggest potential supporter remains passive, Doug is tenacious. I talked to Doug to learn more about his efforts, McDonalds’ attitude, and where he’s going from here. BP: So you started your McDonald’s project independently, then contacted the company. Is that what Jared from Subway and Christine from Taco Bell did, too? Exactly. Jared was a really fat guy who found healthy food at Subway. He never thought that this kind of sponsorship would happen to him, I’m sure. Christine ate other food besides Taco Bell and did other exercise. Their companies picked up on it later and said hey, thanks for the positive message and we’ll throw a couple of bucks at you. Obviously Jared at Subway and Christine at Taco Bell have made a positive name for their companies and have tried to highlight the positive food they are eating. I actually contacted McDonald’s before the project. I told them “I’m going to eat at McDonald’s for 30 straight days, 5-6 times a day. I’m going to eat your healthiest food, and I’m going to exercise, and I’m going to show that you can lose weight eating at McDonald’s, as opposed to gaining weight and getting sick from your food. With my positive message, I’m going to do wonderful things for your company.” And they said to me…nothing. They want to remain independent from my project. BP: Is that a company policy? McDonald’s has a policy of not getting involved. Apparently, some other people also had some level of success eating at McDonald’s and losing weight, the way I did. But McDonald’s has always said “it’s our policy to remain independent of your project,” and good luck to you, and that’s the end of the story. There’s more. When the Rachael Ray crew came to San Diego to film the show I was in, there were so many phone calls and arguments with lawyers. We couldn’t have the McDonald’s logo on TV. That meant we couldn’t have a bag or a box that said McDonald’s, no golden arches anywhere. When I was on the show, there was just the food. We could talk about it, but they wouldn’t let any product image appear on TV. It was one of those things like “we have to protect our company and our interest.” I was like, whatever dude, protecting what? I’m helping you, you should be thanking me. When I was on the Rachael Ray show, I promoted McDonald’s healthy food. I had a very positive message for them. The publicity from the show even went global. But I didn’t get a single dollar for what I did. BP: So you’ve been in contact with McDonald’s for a while? Yes. Their corporate stance and position hasn’t changed, so I don’t see reason to mention anyone’s name I’ve been in contact with at corporate. Local franchises are different. Most McDonald’s are franchises. In southern California, specifically in San Diego, there’s one gentleman named Ernesto Sandoval. He and his family own 18 McDonald’s franchises in San Diego County. His franchises are 100% behind me. They would pay to put me on TV and promote me and do all that. Ernie wants to be supportive, but the corporate McDonald’s in Illinois said he’s not allowed to do. It doesn’t fit under their umbrella policy that they’re not allowed to participate with someone like me, who does something independently. The people down here mentioned it to corporate. Corporate came down here to talk about it. The San Diego franchisers said “this guy is helping is helping us, and I can’t believe you’re telling me we can’t use him.” But ultimately, if you own the franchise, you have to play by their rules. The people down here didn’t give up, they just sort of gave in for now. So I have 18 McDonald’s down here who are supportive. They want to participate, but they’re not allowed to. BP: Are you still going to put out the documentary? I’ve been doing this for a year now. It takes a long time to try to complete something like this. I need more footage. I need more to add to this project. I’m still trying to promote as much as possible. A couple of months ago, when the Taco Bell thing came up, I thought well, this is a perfect time for my challenge. My idea was that if we had a promoter and someone behind it to make it a big thing, it would be me and Jared and Christine pitted against each other. I would love to have all three of us on a national stage somehow, like The Today Show or a mini-Biggest Loser, and see who can achieve the most success over the course of 30 days. We’d engage the public by having them follow their “favorite” competitor, food and restaurant. At the end…I know what I did in 30 days. It’s not easy. And eating every day at the same restaurant, I think that’s where the other two might falter. I want to see if Jared and Christine, who are widely known as being spokespeople for their company, can accept the challenge and really stand behind their product and their company. I’m not sure. I’m surprised and disappointed. McDonald’s is a global name, so in that way, they helped me gain attention for my project. On the other hand, it was extremely difficult to give interviews and go on TV with a big smile while promoting and supporting a company that didn’t support me. Would I choose them again? It’s a tough one. Knowing what Jared got from Subway and what Christine got from Taco Bell, yeah, I feel I was kind of cheated a little. I’m always hopeful that one day McDonald’s corporate will think that this is a good idea, that this is helping them. They might not give a nod of approval, but it won’t be a hurdle either. I’m not going to stop. I’m going to keep moving forward. Doug Logeias blogged his weight-loss experience at McDoug.net. He also recently completed his Certified Personal Trainer (CFP) certification. You can see his appearance on the Rachael Ray show here. Contact him at douglogeais AT yahoo DOT com.
Source: Business Pundit | 17 Feb 2010 | 9:42 am Damage From Haiti Quake Expected To Surpass Country's GDP
Destroyed buildings in Port-au-Prince's financial district. (Chana Joffe-Walt/NPR) By Caitlin Kenney The cost of rebuilding Haiti is expected to be at least $8.1 billion, according to a recent report by economists at the Inter-American Development Bank, that's nearly one billion more than the amount of goods and services the country produced in 2008. The report from Latin America's main development bank based that estimate on a figure of 250,000 people dead and missing. If that figure climbs as expected, the economists note that a higher cost of rebuilding, up to $13.9 billion, is within reason. The economists compiled their report by looking at data from "2,000 natural catastrophic events between 1970 and 2008." They say it's likely that the Haitian earthquake will be the "most destructive natural disaster in modern times, when viewed in relation to the size of the Haiti's population and its economy." The damages are estimated to be between 104-117 percent of the country's GDP, compared to the 2004 tsunami which caused damages equal to 7 percent of Sri Lanka's GDP. The report also looked at the impact the earthquake could have on future growth, noting that the country's economic output is likely to be 30 percent lower than it otherwise would have been. One concern is that large aid inflows may provoke cost increases, real appreciation and Dutch Disease, increasing aid-dependence and damaging private sector activity not directly related to reconstruction, including the export sector. In the case of Haiti, exports are small (some 10 percent of GDP), but they were growing (at an annual rate of 12 percent in 2009) and are highly concentrated in assembly industries including garments (some 90 percent of exports are assembly goods). We'll be bringing you more about Haiti's private sector and the country's plans to rebuild the economy in coming weeks. Adam is currently attending an apparel industry conference in Vegas where apparel executives and U.S. trade reps are pushing for more brands to adopt the "Made in Haiti" label. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 17 Feb 2010 | 9:29 am Greece defends complex debt swapGreece defends a controversial deal with Goldman Sach that may have masked the extent of its budget woes.Source: BBC News | Business | World Edition | 17 Feb 2010 | 9:23 am Portsmouth reveal financial stateA statement showing the full extent of Portsmouth's financial problems is handed to the High Court.Source: BBC News | Business | World Edition | 17 Feb 2010 | 9:07 am An Attack On Google Wireless Search Market ShareThere are occasional conversations among regulators in the US and EU about whether Google (GOOG) has too much of the search engine advertising market. In America, it controls about 70% of the industry. That is not near where Microsoft’s (MSFT) share of the browser industry was when Redmond ran into antitrust problems, but it is [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 8:59 am Guest Post: 4 Easy Blogging Tips for BeginnersThis is a guest post by Stephanie Sims of ACTIONCoach. Blogs are gaining more and more traction as a legitimate marketing tool for small business owners. They are far-reaching, cheap to produce and easy to maintain. Though not a substitute for traditional marketing materials like press releases and direct mail, blogs do provide a way to reach many people in a short amount of time. Starting one can be well worth your investment. Here are four easy tips to help you get started. 1. Choose a blogging platform 2. Figure out what to post -Industry trends You can also tie several ideas together. For example, if your company puts on a big event, blog about it. Link to news stories and pictures of the event. In your writing, relate the event to a current business issue or trend. If there’s a charity involved, mention that the recession is affecting charities, too. 3. Be a credible source Learn how to engage your readers -Make sure your blog is structured in a way that’s easy to navigate, both on your company’s main website, and inside the blog’s own website. Once you set up your blog and update it regularly, it will take on its own momentum. You’ll learn as you go. Have fun! —- Stephanie Sims is a Marketing Content Writer at ActionCOACH, The World’s No. 1 Business Coaching Firm.
Source: Business Pundit | 17 Feb 2010 | 8:52 am Walgreen Buys Duane Reade Pharmacy
Walgreen is paying $1.1 billion for New York pharmacy chain Duane Reade. The New York Times has more: Walgreen is buying the 257-store chain, which is burdened by a big debt load, from the private equity firm Oak Hill Capital Partners. The deal will be financed by Walgreen’s cash on hand and includes the assumption of debt. “Duane Reade is a compelling strategic acquisition that will immediately provide Walgreens with a leading position in the largest drugstore market in the U.S.,” Gregory D. Wasson, Walgreen’s chief executive, said in a statement. Duane Reade, founded in 1960 and named after the two streets in Lower Manhattan where the first store was built, generated about $1.8 billion in sales in 2009, according to Walgreen. Under the terms of the deal, Duane Reade stores will continue to operate under their current name for now, and most of its senior management team will remain for the time being. Walgreen still expects to eventually integrate Duane Reade’s stores into its 7,162-outlet stable, which includes 70 stores in the New York City area.
Source: Business Pundit | 17 Feb 2010 | 8:51 am SIRIUS XM Escaping Penny Stock Status (SIRI)It is not going to be enough to bring back some mega-losses for many multi-year investors, at least not yet, but SIRIUS XM Radio Inc. (NASDAQ: SIRI) has broken back above the $1.00 mark. This technically gets the stock out of ‘penny stock’ status, although many consider penny stocks to be anything under $3.00 or [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 8:38 am World markets higher on earnings, growth hopes (AP)
Source: Yahoo! News: Stock Markets News | 17 Feb 2010 | 8:26 am Just How Bad Was Goldman’s Sneaky Greek Deal?By Heather Horn Struggling Greece needed to conceal its deficit lest it get into trouble with the EU. American superbank Goldman Sachs had a solution: a nifty tool to conceal large loans under the guise of a currency swap, giving the illusion of a smaller deficit. Meanwhile, the bank made a pretty penny off the deal, [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 17 Feb 2010 | 8:16 am Morning Report: Housing Construction At Highest level In Six MonthsGood morning! Here's what we're reading: -- Industrial Production in U.S. Rose 0.9% in January Growing overseas demand and efforts to replenish stockpiles will help keep factories expanding and may generate the jobs needed to boost consumer spending. "Foreign demand growth continues to be very strong, particularly from Asia, and we're starting to see capital spending pick up," said Michael Feroli, an economist at JPMorgan Chase & Co. in New York, who correctly forecast the gain in production. "The recovery looks intact." -- Housing construction up 2.8 percent in January Privately-owned housing starts in January were at a seasonally adjusted annual rate of 591,000. This is 2.8 percent above the revised December estimate of 575,000 and is 21.1 percent above the January 2009 rate of 488,000. -- Walgreen to Acquire Drugstore Chain Duane Reade Walgreen Co. agreed to buy Duane Reade from private-equity firm Oak Hill Capital Partners for $618 million, plus $457 million in debt, making the largest U.S. drugstore chain also the market leader in New York City » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 17 Feb 2010 | 7:48 am Gallo on Dollar, McKee on Economy, Schork on Oil: First WordSource: Bloomberg - All Podcasts | 17 Feb 2010 | 7:44 am Unicredit’s Annunziata: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 17 Feb 2010 | 6:53 am Arthur Levitt: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 17 Feb 2010 | 6:52 am Ellen Zentner: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 17 Feb 2010 | 6:50 am Alan Ruskin: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 17 Feb 2010 | 6:49 am Eurobank's Hardouvelis: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 17 Feb 2010 | 6:47 am Why Men Shouldn’t Write Advice Columns
Source: Business Pundit | 17 Feb 2010 | 4:33 am Virtual back lot from Stargate Studios brings the world to L.A.Low-cost green screen technology enables TV producers to film scenes of faraway places without traveling to them.A stone-faced Kiefer Sutherland, star of the Fox TV show "24," grabs the throttle of a mock helicopter propped up on a soundstage that has been wheeled in front of a giant blue screen.
Source: L.A. Times - Business | 17 Feb 2010 | 1:00 am 3 Stocks That Seem Oddly Cheap (Screens)Hough: Companies that sell for less than their liquidation value.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm 3 Tips on Scoring a Low Airfare (Deal of the Day)With airline fees on the rise, here are a few ways to save on tickets.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm Is There Gold in Them Thar Hills?Junior mining outfits have rallied even more than the price of gold.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm Stockscope: Playing Merger Mania (StockScope)Mall operators and energy firms eye new deals. How to respond.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm Fed Dissent Tamps Stocks' Early Climb (Market Update)Rates disagreement tempers good housing news that boosted major indexes at the open.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm 5 Stocks Capturing Growth AbroadThese companies can help you tap the power of foreign economies.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm Stock Picks: Deere Up, AIG Down (Market Movers)Deere rises on earnings; a tax issue stirs investor concerns about AIG.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm College Scholarships Still Up for Grabs (Education and Your Money)Scholarships can help students pay tuition, but some come with drawbacks.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm Housing Data, Fed Leave ETFs Higher (Daily ETF Wrap-Up)Differing views on rates stall rally, but housing surprise carries day.
Source: SmartMoney.com | 16 Feb 2010 | 10:00 pm
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