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Darling in stamp duty Budget moveUK Chancellor Alistair Darling is to present his pre-election Budget, tipped to pledge investment in the industrial future.Source: BBC News | Business | World Edition | 24 Mar 2010 | 4:15 am BA strikers to lose travel perksBritish Airways cabin crew who took part in the Unite union three-day strike will lose their travel perks, the company confirms.Source: BBC News | Business | World Edition | 24 Mar 2010 | 4:14 am In Bank Of America Program, Finally A Mortgage Crisis SolutionGovernment mortgage modification programs has so far been aimed at changing what people pay monthly on their home loans. These plans have proven to be failures. There are a number of theories about their lack of effectiveness. One is that people who can make lower monthly payments still have no hope of owning their homes. Underwater mortgages [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 4:11 am UK fraud office arrests 3 Alstom board members (AP)AP - Britain's Serious Fraud Office says three members of the board of French transport and infrastructure company Alstom have been arrested on suspicion of bribery and other offenses.Source: Yahoo! News: Business News | 24 Mar 2010 | 4:09 am Summer job outlook is cloudyThe search for a summer job won't be any easier this year, despite nascent signs of a recovery.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 4:06 am Germany insists no aid for Greece as summit looms (AP)AP - Germany's economy minister says his government remains opposed to paying financial aid to Greece, dampening EU officials' hopes that a summit Thursday will agree to a rescue package and suggesting the International Monetary Fund may have to be involved.Source: Yahoo! News: Business News | 24 Mar 2010 | 4:05 am Report: Fiat to cut 5,000 jobs (AP)AP - An Italian newspaper says Fiat will cut 5,000 jobs as part of its new strategic plan.Source: Yahoo! News: Business News | 24 Mar 2010 | 4:03 am Giant Ethiopian dam to make 200,000 go hungry: NGO (Reuters)Reuters - More than 200,000 Ethiopians who rely on fishing and farming could become reliant on aid to survive if the government goes ahead with building Africa's biggest hydropower dam, an advocacy group said.Source: Yahoo! News: Business News | 24 Mar 2010 | 4:02 am 13 ways to look at an iPadSource: Business and financial news - CNNMoney.com | 24 Mar 2010 | 3:59 am NYC's new landmark: AppleSource: Business and financial news - CNNMoney.com | 24 Mar 2010 | 3:58 am Eurozone spars over rescue for GreeceLeaders of the 16 eurozone member states were locked in urgent negotiations to resolve differences over financial assistance for Greece, after Germany spelt out its fundamental conditions for a dealSource: Financial Times - US homepage | 24 Mar 2010 | 3:54 am A $1.4 Billion Tax Refund For JPMorgan (JPM)JPMorgan (JPM) is about to get what it deserves–a $1.4 billion tax refund from the United States. Jamie Dimon, the CEO of the bank, may be more clever than his peers, but in this case the firm is using a simple rule that would apply to any financial institution. While Washington and taxpayers may object to the big [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 3:53 am Rio Tinto trial ends in ShanghaiThe trial of four Rio Tinto executives in Shanghai has drawn to a close after two-and-a-half days of hearings, but there was no word on when a verdict will be announced.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 3:52 am Watchdog slams foreclosure relief planPresident Obama's foreclosure prevention program will likely fall far short of its goals and may even do more harm than good, a government watchdog said Tuesday.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 3:47 am German retirees convicted in kidnapping US advisor (AP)AP - Three German retirees who lost $1.4 million in the financial crisis and kidnapped their American investment adviser in an attempt to recoup the money were convicted Tuesday, with their 74-year-old ringleader sentenced to six years in prison.Source: Yahoo! News: Business News | 24 Mar 2010 | 3:43 am Google to phase out China search partnershipsBEIJING/HONG KONG (Reuters) - Two day after shutting its Chinese portal over censorship, Google Inc said it plans to phase out deals to provide filtered search services to other online or mobile firms in China.
Source: Reuters: Business News | 24 Mar 2010 | 3:42 am Asia stocks up after upbeat economic data, US rise (AP)
Source: Yahoo! News: Stock Markets News | 24 Mar 2010 | 3:41 am Asia stocks up after upbeat economic data, US rise (AP)
Source: Yahoo! News: Business News | 24 Mar 2010 | 3:41 am Is Sarbanes-Oxley a failure?The McGuffin in the highly readable, 2,000-page report on what went wrong at Lehman Brothers was a bit of accounting magic called Repo 105. The transaction was based on the repurchase agreement, or repo deal, a common practice where a bank uses a security it owns as collateral for a short-term cash loan.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 3:38 am Greece woes push euro to 10-month lowLONDON (Reuters) - The euro sank to a 10-month low against the dollar and a lifetime trough versus the Swiss franc on Wednesday as speculation Greece may have a difficult time securing debt aid highlighted instability in the euro zone.
Source: Reuters: Business News | 24 Mar 2010 | 3:38 am Tanning salons burned by health care billThe Obama administration is turning up the heat on tanning salons across the country with the passage of its new health care bill.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 3:32 am Google Accused Of Spying For USIt was not unheard of for American media correspondents to pass information to the US military during WWII. Perhaps the Chinese had that in mind when they accused Google (GOOG) of spying for the U.S. government. China’s People’s Daily wrote “Google is not a virgin when it comes to values. Its cooperation and collusion with the [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 3:27 am Fiat reported to cut 5,000 jobs, shares rallyMILAN (Reuters) - Industrial group Fiat is planning more than expected job cuts of 5,000 in Italy and may spin off its car activities sooner than thought this summer, press reports said, boosting its shares sharply on Wednesday.
Source: Reuters: Business News | 24 Mar 2010 | 3:22 am Budget 2010: liveAlistair Darling today delivers his Budget plans, just weeks before a general election. Stay here for rolling news and gossip.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 3:19 am Rio Four face month-long wait for verdictThe three-day trial in Shanghai of four executives employed by Rio Tinto, the mining giant, has ended with all pleading guilty to some charges of accepting bribes and one apparently admitting possessing commercial secrets. Source: Latest Business News from Times Online | 24 Mar 2010 | 3:12 am White House Attempts To Help Homeowers “Meaningless”The Administration’s Home Affordable Modification Program was meant to spend as much as $75 billion to keep people in their homes. Mortgage holders who could not make their monthly payments might have them lowered after going through what turned out to be an inefficient process to look at their circumstances. The theory behind the plan was simple. People who stay [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 3:06 am Q-Cells shares rally as it forecasts higher salesShares of Q-Cells rally 7% as the German solar-cell maker said it expects to increase its sales and operating income this year.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 3:06 am JPMorgan closes in on tax refund deal with FDIC: report(Reuters) - JPMorgan Chase is closing in on a deal with the Federal Deposit Insurance Corp (FDIC) that could result in a tax refund of about $1.4 billion for the bank, the Wall Street Journal reported, citing people familiar with the talks.
Source: Reuters: Business News | 24 Mar 2010 | 3:04 am DP World profits slump by a halfDP World, the container port business owned by troubled investment group Dubai World, reports a slump in profits of almost a half.Source: BBC News | Business | World Edition | 24 Mar 2010 | 3:01 am Credit Markets: Mortgages rates seen staying low after Fed exitAs the Federal Reserve ends its purchases of more than a trillion dollars in mortgage-related debt this month, bond investors say the market is now stable enough to prevent a big jump in mortgage rates once its biggest buyer exits.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 3:00 am EBay draws interest as marketplace changes loomEBay has long been trying to sell investors on the company’s efforts to revitalize its once powerful online marketplace business, but investors seem to just now be paying attention.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 3:00 am London Markets: Tour operators advance in firm FTSE indexTravel operators gain in the British share market on Wednesday, after Tui Travel flags a recovery in demand for holidays.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 2:58 am 3 lessons for investing overseasGreece, of all places. Who knew you had to worry about what happens in Greece?Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 2:53 am 6 housing trends in a still-shaky marketThe drama is nearly over. After a decade of extremes -- the ebullient highs of the real estate boom, then the devastating lows of the bust -- calmer forces are beginning to prevail in the housing market.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 2:50 am Asian markets climb higher, Nintendo up in TokyoAsian markets end mostly higher Wednesday, with strong corporate earnings boosting Hong Kong and Chinese stocks, while Nintendo surged in Tokyo on plans to release a new game console.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 2:49 am Inside China's garlic bubbleGarlic has always been revered in China -- not so much for its overpowering bite but as an important ingredient in cuisine and related health benefits. The philosopher Confucius was so fond of the pungent plant he even extolled its virtues in the Shih Ching, the oldest anthology of Chinese poetry.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 2:46 am BofA to start reducing mortgage principalWASHINGTON (Reuters) - Bank of America will on Wednesday announce plans to start forgiving mortgage loan principal for troubled homeowners who owe more than 120 percent of their home's value or are battling ever-expanding "negative amortization" loans.
Source: Reuters: Business News | 24 Mar 2010 | 2:38 am Business Bullet: Japan, EasyJet, J Sainsbury, BanksThe latest news on: Japan, EasyJet, J Sainsbury, BanksSource: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 2:37 am GM unveils concept car for mega-cities like Shanghai (Reuters)
Source: Yahoo! News: Business News | 24 Mar 2010 | 2:35 am GM unveils concept car for mega-cities like ShanghaiSHANGHAI (Reuters) - General Motors Wednesday unveiled a new concept car that it hopes will solidify its position in electric vehicles, not least in China, the world's biggest auto market.
Source: Reuters: Business News | 24 Mar 2010 | 2:35 am Stocks point to lower startU.S. stocks were set for a slightly lower start Wednesday as investors await more information about the housing market.Source: Business and financial news - CNNMoney.com | 24 Mar 2010 | 2:35 am 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 | 24 Mar 2010 | 2:31 am Man Group sees profit down 57% as assets shrinkU.K. hedge-fund manager expects adjusted pretax profit to drop around 57% for the fiscal year as assets under management continue to shrink.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 2:29 am Fed rate policy to shift amid slow growth: reportSAN FRANCISCO (Reuters) - The Federal Reserve will start moving away from its zero interest rate policy later this year as the U.S. economy improves modestly and job growth resumes, the...Source: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 2:13 am Fed rate policy to shift amid slow growth: reportSAN FRANCISCO (Reuters) - The Federal Reserve will start moving away from its zero interest rate policy later this year as the U.S. economy improves modestly and job growth resumes, the UCLA Anderson Forecast unit said on Wednesday.
Source: Reuters: Business News | 24 Mar 2010 | 2:13 am Further losses hit IndependentIndependent News & Media reports a pre-tax loss of 31.4m euros for 2009 as talks with Alexander Lebedev continue.Source: BBC News | Business | World Edition | 24 Mar 2010 | 2:13 am Fiat seen cutting 5,000 jobs with new planMILAN (Reuters) - Carmaker Fiat is seen cutting 5,000 jobs as part of its strategic plan due to be unveiled next month while at the same time increasing Italian production by 50 percent,...Source: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 2:09 am Guardian Media Group chief Carolyn McCall becomes boss of easyJetEasyJet today confirmed that its new chief executive is Carolyn McCall, the head of the Guardian Media Group. Source: Latest Business News from Times Online | 24 Mar 2010 | 2:05 am Sainsbury sales growth slowsJ Sainsbury, Britain's third-biggest grocer, forecast a tough 2010 as it posted its smallest rise in underlying quarterly sales in almost five years, hit by a steep decline in food price inflation.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 2:05 am Bono Becomes The Worst Investor In AmericaBono, the Irish rock star, has put significant money into Elevation Partners, arguably the worst run institutional fund of any size in the United States. Bono is listed as one of the five members of the firm’s investment team. The fund claims that its “mission is to help media and entertainment businesses develop and market [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 2:04 am Zain set to agree Africa asset sale to BhartiBoard of the Kuwaiti telecoms group expected to agree the sale of most of its African assets to the Indian group for about $10.7bnSource: Financial Times - US homepage | 24 Mar 2010 | 1:57 am Media Digest 3/24/2010 Reuters, WSJ, NYTimes, FT, BloombergReuters: A Chinese newspaper accused Google (GOOG) of helping US intelligence Reuters: JP Morgan (JPM) is close to a huge tax refund deal with the FDIC. Reuters: Oil dropped below $81 on surging US inventories. Reuters: The OECD is looking at a code of conduct for Europe’s banks. Reuters: US securities class action suit settlements are up 39%. Reuters: Fed [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 24 Mar 2010 | 1:57 am Sainsbury's sales growth hits slowest in five yearsJ Sainsbury today revealed its slowest quarterly sales growth for nearly five years, after being hit by slowing food price inflation, and predicted a tough year ahead. Source: Latest Business News from Times Online | 24 Mar 2010 | 1:53 am Sainsbury's sales growth hits slowest in five yearsJ Sainsbury today revealed its slowest quarterly sales growth for nearly five years after being hit by slowing food price inflation and predicted a tough year ahead. Source: Latest Business News from Times Online | 24 Mar 2010 | 1:53 am Europe Markets: Miners lead European shares to mild gainsEuropean shares advanced on Wednesday, after broker upgrades provided fresh impetus for the mining sector and Q-Cells and Tui Travel made gains after updating investors.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 1:52 am easyJet Appoints New Chief Executive - Interview With Carolyn McCallSource: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 1:51 am Strauss Group Reports Q4 and Full Year 2009 ResultsSource: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 1:50 am Samsung's Lee returns as chair to boost growthSEOUL (Reuters) - The man behind Samsung Group's rise to become the world's largest electronics powerhouse returned to head its flagship unit, two years after being indicted over financial misdeeds.
Source: Reuters: Business News | 24 Mar 2010 | 1:42 am Australian stocks: Firm finish to tradingThe Australian share market finished firmer after robust trading across most sectors, with resources and healthcare stocks the standout performers.At 1615 AEDT, the benchmark S&P/ASX200 index advanced 16.7 points, or 0.34 per...Source: nzherald.co.nz - Business | 24 Mar 2010 | 1:38 am Sainsbury's reports rising salesHigh Street supermarket Sainsbury's has reported a 3% rise in sales for the last 12 months.Source: BBC News | Business | World Edition | 24 Mar 2010 | 1:35 am Banks 'failing to give good advice'Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 24 Mar 2010 | 1:29 am Samsung boss returns after pardonThe former boss of Samsung Electronics, who was convicted of tax evasion in 2008, has returned to head the company.Source: BBC News | Business | World Edition | 24 Mar 2010 | 1:23 am Banks on verge of losing student lending business (AP)AP - Banks and other private lenders are about to lose a $70 billion-a-year student loan business, part of a massive overhaul of college assistance programs that has received an unexpected boost from President Barack Obama's health care success.Source: Yahoo! News: Business News | 24 Mar 2010 | 1:18 am China court ends Rio Tinto trialChina's bribery trial of four executives of mining giant Rio Tinto ends, but no verdict is announced.Source: BBC News | Business | World Edition | 24 Mar 2010 | 1:02 am FIJI(R) Water Gets A Six PackSource: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 1:01 am Home resales fall in FebruaryThe 0.6% drop, less than expected, follows steeper declines in January and December. It comes KB Home reports a narrower loss in its first quarter.The housing market stumbled anew in February as sales of previously owned homes fell for the third consecutive month and the number of dwellings available for buyers climbed.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am WTO criticizes aid for Airbus in Boeing battle, officials sayThe trade group rules the plane maker received unfair financing by European governments but also found that Boeing did not suffer harm as a result, sources say. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am Plastic surgeons nip and tuck their feesBecause of the bad economy, fewer people are getting face-lifts, liposuction and other costly cosmetic procedures. Doctors are charging less and doing more Botox injections and chemical peels. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am China puts new limits on Google search resultsRestrictions mount as the company redirects users to its Hong Kong website. Chinese access to Google's search...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am China puts new limits on Google search resultsRestrictions mount as the company redirects users to its Hong Kong website.Chinese access to Google's search engine grew more restricted, with some sensitive searches blocked altogether, Tuesday as fallout from its decision to redirect mainland users to its uncensored Hong Kong website threatened to undermine the Internet giant's ability to cling to its hard-won Chinese market share.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am Mutually beneficial U.S.-China economic relationship beginning to unravelThe Chinese extended credit as Americans ran up debt. But the Great Recession has created new friction between the countries, illustrated by an arcane argument over currency exchange rates. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am Pay czar slashes top executives' compensation at five firmsKenneth R. Feinberg imposes an average cut of 15% for the top 25 earners at the recipients of exceptional federal bailouts.Amid continued public anger about huge corporate pay packages, the Obama administration's pay czar Tuesday took a series of steps to try to rein in executive salaries and bonuses at firms that received federal taxpayer bailouts.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am Mutually beneficial U.S.-China economic relationship beginning to unravelThe Chinese extended credit as Americans ran up debt. But the Great Recession has created new friction between the countries, illustrated by an arcane argument over currency exchange rates.For much of the last decade, the economic relationship between the U.S. and China was like a bartender and his favorite patron.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am Pay czar slashes top executives' compensation at five firmsKenneth R. Feinberg imposes an average cut of 15% for the top 25 earners at the recipients of exceptional federal bailouts. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am California panel wants say on health insurance rate hikesAssembly committee passes a bill requiring companies to justify increases. The measure faces an uncertain future in the full Legislature amid an industry lobbying effort. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am Financial Advisor Ltd Launches New Independent Financial Advisor PortalSource: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 1:00 am WTO criticizes aid for Airbus in Boeing battle, officials sayThe trade group rules the plane maker received unfair financing by European governments but also found that Boeing did not suffer harm as a result, sources say.The World Trade Organization ruled that European governments unfairly financed plane maker Airbus' battle against U.S. rival Boeing Co., officials said, even as France-based Airbus claimed the decision as a victory.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am Nationwide Building Society Offers New Personal Loans Rate for Current Account HoldersSource: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 1:00 am Daimler to pay $185 million to settle bribery caseThe German carmaker allegedly paid millions in bribes to government officials in at least 22 foreign countries. It will avoid indictment when two subsidiaries plead guilty April 1, sources say. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am Hollywood prop shop helps re-create the pastAt Jim and Pam Elyea's company History for Hire, rentals are backed up with research. The North Hollywood firm has survived by avoiding debt and specializing in hard-to-find historical props. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am AAA gives its top picks for commuter vehiclesThe auto club evaluates cars on practicality, safety, comfort, fuel efficiency and affordability. The type of...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am AAA gives its top picks for commuter vehiclesThe auto club evaluates cars on practicality, safety, comfort, fuel efficiency and affordability.The type of vehicle you drive can ease both the expense and pain of a long commute, according to the American Automobile Assn.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am Big companies are awash in cash as economy picks upSome experts say the strength of the largest firms will be key as the recovery strengthens. Others worry that the giants' clout has grown at workers' expense.The brutal recession has left many American families, small businesses and state and local governments in financial ruin or teetering on the brink.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am Hollywood prop shop helps re-create the pastAt Jim and Pam Elyea's company History for Hire, rentals are backed up with research. The North Hollywood firm has survived by avoiding debt and specializing in hard-to-find historical props.The movie: an adaptation of Sara Gruen's 2006 bestselling novel "Water for Elephants," about a veterinary student who quits his studies to join a traveling circus.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am Home resales fall in FebruaryThe 0.6% drop, less than expected, follows steeper declines in January and December. It comes KB Home reports a narrower loss in its first quarter. ...Source: RSS feed - channel BNPaperBusiness | 24 Mar 2010 | 1:00 am California panel wants say on health insurance rate hikesAssembly committee passes a bill requiring companies to justify increases. The measure faces an uncertain future in the full Legislature amid an industry lobbying effort.California lawmakers who want to go further than the newly signed federal healthcare overhaul scored a victory Tuesday when a proposal to make insurance companies justify rate hikes sailed through the Assembly's Health Committee.
Source: L.A. Times - Business | 24 Mar 2010 | 1:00 am JPMorgan closes in on tax refund deal with FDIC: report(Reuters) - JPMorgan Chase is closing in on a deal with the Federal Deposit Insurance Corp (FDIC) that could result in a tax refund of about $1.4 billion for the bank, the Wall Street...Source: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 12:53 am JPMorgan closes in on tax refund deal with FDIC: report (Reuters)
Source: Yahoo! News: Business News | 24 Mar 2010 | 12:53 am NZ stocks: Little overall change todayNuplex shares rose and Fletcher Building and Telecom shares fell, leaving the New Zealand market little changed overall today.The flat performance was a contrast to a rally on Wall Street on Tuesday and strength in Asian markets...Source: nzherald.co.nz - Business | 24 Mar 2010 | 12:42 am Strike threat over Tube job cutsThe RMT union threatens a strike ballot unless London Underground withdraws plans to axe 800 staff by Thursday.Source: BBC News | Business | World Edition | 24 Mar 2010 | 12:37 am Samsung's Lee returns as chairman to boost growthSEOUL (Reuters) - The man in charge of South Korea's top business group, his legal scandals behind him, returned to head its flagship Samsung Electronics as it battles deepening competitionSource: RSS feed - channel BNewsBusiness | 24 Mar 2010 | 12:26 am Trial of Rio Tinto employees ends, no verdict yetThe trial of four Rio Tinto staff in Shanghai concludes, although there is no word on when a decision would be handed down.
Source: MarketWatch.com - Top Stories | 24 Mar 2010 | 12:12 am Karzai in China to discuss tradeAfghan President Hamid Karzai begins a visit to China, with trade and investment high on the agenda.Source: BBC News | Business | World Edition | 23 Mar 2010 | 11:47 pm Currencies: Dollar up as euro hits record low vs. Swiss francThe dollar rises against major rivals in Asian trading Wednesday, getting a lift on cross-trading as the euro sinks to an all-time low against the Swiss franc amid ongoing fears of fallout from Greece's debt problems.
Source: MarketWatch.com - Top Stories | 23 Mar 2010 | 11:36 pm NZ dollar falls on current account dataThe New Zealand dollar fell today after weaker than expected current account data but it rose against a weak euro.The NZ dollar was US70.37c at 5pm from US70.54c at 8am and US70.72c at 5pm yesterday.The currency rose to around...Source: nzherald.co.nz - Business | 23 Mar 2010 | 11:23 pm Japan exports to Asia and US riseJapan's exports grew 45% in February compared with the same month a year ago, because of strong demand in Asia.Source: BBC News | Business | World Edition | 23 Mar 2010 | 10:46 pm Former Samsung chairman Lee returns to post (AP)
Source: Yahoo! News: Business News | 23 Mar 2010 | 10:36 pm Oil falls to near $81 on US crude supplies jumpOil prices fell to near $81 a barrel Wednesday in Asia after a report showed a larger-than-expected jump in U.S. crude inventories last week. Benchmark crude for May delivery was down 62Source: RSS feed - channel BNewsBusiness | 23 Mar 2010 | 10:28 pm GMAC may sell factoring business to Wells Fargo: report(Reuters) - U.S. auto finance company GMAC Financial Services may sell its factoring business unit to Wells Fargo & Co , Bloomberg said, citing two people with direct knowledge of the matter.
Source: Reuters: Business News | 23 Mar 2010 | 10:11 pm U.S. securities class-action settlements up 39 percentNEW YORK (Reuters) - Settlements of U.S. class-action securities lawsuits rose 39 percent in 2009, and the amounts could rise further as cases stemming from the financial crisis work their way through the courts.
Source: Reuters: Business News | 23 Mar 2010 | 10:10 pm Crafar Farms sold to Chinese companyThe China Jin Hui Mining Corporation - recently renamed Natural Dairy (NZ) Holdings - says it has agreed to buy the Crafar family farms as well as other assets including farmland, cattle, and milkpowder production plant.The deal...Source: nzherald.co.nz - Business | 23 Mar 2010 | 10:00 pm Health-Care Reform and Your Student Loans (Education and Your Money)Tucked within the health-care legislation are changes to student loans.
Source: SmartMoney.com | 23 Mar 2010 | 10:00 pm Tax Tips: High Income Tax Breaks (Tax Tips)Some tax breaks are available to just about anybody -- regardless of income.
Source: SmartMoney.com | 23 Mar 2010 | 10:00 pm Cashing in on Credit Card RewardsWith some banks scaling back on rewards, get the most out of your plastic.
Source: SmartMoney.com | 23 Mar 2010 | 10:00 pm 3 Stocks That Analysts Strongly Disagree On (Screens)Hough: When estimates vary widely, it's often a bad sign.
Source: SmartMoney.com | 23 Mar 2010 | 10:00 pm Call of Duty: Modern Warfare on Wall StreetGameStop's used-game business gives it a buttress against big-box stores.
Source: SmartMoney.com | 23 Mar 2010 | 10:00 pm 4 Smartphones for Beginners (Deal of the Day)Entry-level handsets for smartphone newbies on a budget.
Source: SmartMoney.com | 23 Mar 2010 | 10:00 pm Price gouge warning for World CupTreat the Rugby World Cup like a peak season or face being priced out of the market, industry groups have warned.New Zealand risked tarnishing its reputation as a fair nation through greedy accommodation operators cashing in on...Source: nzherald.co.nz - Business | 23 Mar 2010 | 9:00 pm KiwiSaver providers get Securities Commission adviceThe Securities Commission has today published guidance advice for companies on the distribution and disclosure of KiwiSaver schemes."The Commission recognises thSource: nzherald.co.nz - Business | 23 Mar 2010 | 8:30 pm Current account turns to deficitThe current account balance moved back into deficit in the December quarter, driven by an increase in income earned by foreign investors from investments in this country.Figures published by Statistics New Zealand (SNZ) today...Source: nzherald.co.nz - Business | 23 Mar 2010 | 7:30 pm Strategic kept us guessing, says investorAn investor in the failed Strategic Finance knew little about precisely where his money was going.Rowland Crone, a Paraparaumu retiree, said he got only general information from the financier which never specified the exact projects...Source: nzherald.co.nz - Business | 23 Mar 2010 | 7:30 pm Robyn Malcolm: NZ image about to be gutted 'surgically'I had an interesting conversation with an American traveller this week who speculated that New Zealand is not quite as green as its image makes out. She was of course referring to what has been in the media these past weeks regarding...Source: nzherald.co.nz - Business | 23 Mar 2010 | 7:00 pm Maori programme reviewDeputy State Services Commissioner Tony Hartevelt has been called in to review Tekau Plus to see if the Maori business development programme has spent taxpayer's money appropriately. Mr Hartevelt - with PricewaterhouseCoopers...Source: nzherald.co.nz - Business | 23 Mar 2010 | 6:26 pm Aircraft makers both claim WTO winAirbus and Boeing both seized on a long-awaited report to claim victory in a US case alleging the European aircraft maker received billions of dollars in illegal subsidiesSource: Financial Times - US homepage | 23 Mar 2010 | 6:06 pm China clamps down on Google operationsChinese internet users were left with less information from Google as their government appeared to apply an unusually strict filtering regime to the US search engine following Google’s move to stop self-censorship in China.Source: Financial Times - US homepage | 23 Mar 2010 | 6:02 pm Budget boost for Labour as inflation falls to 3%Inflation fell sharply last month, boosting hopes that the recent surge in consumer prices was only temporary. Source: Latest Business News from Times Online | 23 Mar 2010 | 6:01 pm China seeks calm amid the Google stormGoogle’s hopes of retaining a foothold in China remained intact yesterday after the Chinese Government played down its row with the company over censorship. Source: Latest Business News from Times Online | 23 Mar 2010 | 6:01 pm Six are questioned over insider dealing after dawn raids by FSAStaff at some of the City’s biggest names, including an executive at Deutsche Bank and a trader at Moore Capital, one of the world’s biggest hedge funds, were questioned yesterday in the biggest operation against insider dealing launched in Britain. Source: Latest Business News from Times Online | 23 Mar 2010 | 6:01 pm Revealed: the great scandal no one’s noticedI have been reading Said Sayrafiezadeh’s wonderful memoir When Skateboards Will Be Free and laughing. It’s the tale of a childhood spent following his parents around as they work for a revolution that will never come (and when the author will finally get the skateboard he covets, because they will all be free). Source: Latest Business News from Times Online | 23 Mar 2010 | 6:01 pm Business big shot: Jamie EllsAs the Chancellor prepares for today’s Budget, he could take some tips from 16-year-old Jamie Ells, winner of the Chance to be Chancellor competition, which challenges students to write their own Budget speech. The competition, run by the Citizenship Foundation in partnership with Aviva, the insurance group, attracted hundreds of entries from students in schools across the country. Source: Latest Business News from Times Online | 23 Mar 2010 | 6:01 pm Business Editor’s budget briefingTax... Source: Latest Business News from Times Online | 23 Mar 2010 | 6:01 pm Obama signs landmark health billPresident Barack Obama sealed the first triumph of his young presidency when he signed historic healthcare legislation into law, realising a goal that had eluded generations of Democratic leadersSource: Financial Times - US homepage | 23 Mar 2010 | 5:55 pm Questor share tip: VT Group takeover means its time to take profitsThe battle for defence service company VT Group is finally over - and Babcock's sweetened offer has won the day.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Mar 2010 | 5:18 pm Questor share tip: Buy Gulfsands as bid highlights the quality of its assetsAfter Sinochem bought Emerald Energy at the start of the year, it was inevitable that bid speculation would surround Gulfsands Petroleum.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Mar 2010 | 5:14 pm Court lifts ban on media ownership restrictionsWASHINGTON -- A federal court has at least temporarily lifted government rules that blocked media companies from owning a newspaper and a broadcast TV station in the same market.
Source: L.A. Times - Business | 23 Mar 2010 | 5:12 pm Budget 2010: This may be Darling's Budget but Tories need it to be Cameron's dayAlistair Darling has one last opportunity to buy some votes with Wednesday's Budget but our crisis-torn public finances mean it can be nothing more than a fiscally neutral statement.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Mar 2010 | 4:55 pm Daimler charged under US bribery lawsGerman carmaker has been entangled in a large bribery scandal since 2004, when it faced accusation of using bribes to win contracts mainly in its bus and truck divisionsSource: Financial Times - US homepage | 23 Mar 2010 | 4:52 pm Retailers signal tough times aheadOne thing about this Budget that makes the politics difficult is the fact that the hard yards start now.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Mar 2010 | 4:52 pm FSA's momentum on insider dealing must not be lostThe cancer of insider dealing appears to reach right into the heart of the City of London's top institutions, as far as the latest arrests by the Financial Services Authority (FSA) reveal.Source: Finance and Business. Latest breaking news, stocks and shares from the UK and world | 23 Mar 2010 | 4:49 pm FSA dawn raids rock City institutionsSenior professionals in the City and a trader at one of the world’s biggest hedge funds, Moore Capital, have been arrested on suspicion of participating in a long-running insider dealing scheme in the biggest enforcement operation ever by the UK Financial Services AuthoritySource: Financial Times - US homepage | 23 Mar 2010 | 4:28 pm Was Bank of America In On Repo 105-style Accounting Tricks?by Marian Wang, ProPublica March 23: This post has been updated. In a blog entry over the weekend, John Hempton (once dubbed “financial blogger extraordinare ”) explains that before there was Lehman Brothers’ now-maligned manuever called “Repo 105” … there were, well, a lot of other banks also trying to do the very same thing. Such as Bank [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Mar 2010 | 4:05 pm How the major stock indexes fared on Tuesday (AP)AP - Investors are starting to believe that the stock market is on the verge of another big rally.Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 4:04 pm Momentum carries stocks higher; Dow adds 103 (AP)
Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 3:56 pm 13 Most Evil Vintage Ads in History
Advertising? Badvertising – especially when it comes to certain products and ad campaigns from a bygone era. Business ethics often seem to go out the window when the will to sell is the bottom line, but who knew how bad things got? Heck, as this first image makes plain, even Santa Claus chugged away on Luckies, and if Santa did wouldn’t kids want to as well? Then even when lies about the commodities on display weren’t being sold, discrimination reared its ugly head, or simply the ghastly face of a red-and-yellow clown. Camel Cigarettes
Choosing the most evil ads from Camel is like picking sweets from a candy store. In the early 1990s the brand came under fire when it was alleged cartoon mascot Joe Camel was aimed at children, but further back in time its ads were even more sinister, insinuating that smoking is actually beneficial for one’s health. Oh the irony. Several 1930s ads urged consumers to smoke Camels ‘For Digestion’s Sake’, while our favourite is the pseudo-scientific campaign that reassured people: ‘More Doctors Smoke Camels than any Other Cigarette!’ Did more of those same doctors die younger too? Lucky Strikes
More evil from the mouth of yesterday’s cigarette advertisers with another classic from Lucky Strikes. This one again uses surveys conducted on doctors to sell the pernicious products, while implying in true fattist fashion that lighting up is the first step towards a healthy lifestyle. Even as reports that smoking cigarettes could cause lung cancer and other diseases began to emerge, the cigarette manufacturers stuck to their smoking guns, and it wasn’t until the 1960s that the weight of evidence began to tell, leading to laws requiring warning labels on tobacco products. Marlboro Cigarettes
Tobacco giant Marlboro’s most famous and successful advertising icon is probably the rugged Marlboro Man cowboy (conceived in the 1950s but with a legacy decades-long) which naturally appealed to ideals of outdoorsy, spittoon-pinging masculinity. Less well-known but more perverse by far were these ads, which appeared in 1950, featuring a doe-eyed bouncing baby talking to its parents and offering reasons why they should smoke the cursed cancer sticks. Unsurprisingly, passive smoking didn’t figure among the babbled endorsements. Tipalet Cigarettes
Playing, as so many cigarette ads have done, on the notion that smoking is sexy and – bad breath notwithstanding – sure to appeal to the opposite sex, we found this priceless ad from lesser-known flavored cigarette brand Tipalet. The suggestive slogan, ‘Blow in her face and she’ll follow you anywhere’ may as well have just erased the word ‘follow’ and repeated the opening word of the promise. These were the days when smoking caused sexual arousal more terminal than cancer. Winston Cigarettes
Winston cigarettes were onto winner in the 1950s when their ad agency came up with the enduringly catchy slogan, ‘Winston tastes good – like a cigarette should.’ It’s a pity the same can’t be said for the people who found the jingle tripping off their tongues too easily and buying into the deadly products, making Winston the best-selling cigarette brand in the US. Once again, smoke-flavored sex appeal was the ideal being sold. Just look at those teeth: not a nicotine stain in sight. Chesterfield Cigarettes
It’s nice to see the smiling face of a world leader in-waiting not only endorsing the old cancer sticks but sending them by the box load to friends and loved ones in the 50s: ‘That’s the merriest Christmas any smoker can have – Chesterfield mildness plus no unpleasant aftertaste.’ Still, it might leave a somewhat unpleasant aftertaste associated with the memory of the 40th (brightest?) US President. Reagan wasn’t alone though; the ‘Gipper’ was one of a long list of actors and athletes who lined up to convince the public that cigarettes weren’t harmful – despite the claims being made by science. Schenley’s Bourbon Whiskey
Inevitably an unhealthy amount of cigarette brands are going to make a list of the most evil vintage ads, but their alcoholic complements are almost as bad when it comes to deviously encouraging the consumption of substances with decidedly ill effects on our wellbeing. We’ve singled out this particular ad for Schenley’s Bourbon from yesteryear as it also reinforces some unsavoury racial stereotyping – that of the African American Uncle Tom figure obsequiously submissive to the white master whom he serves. Yessir. N.K. Fairbank Fairy Soap
This outrageously racist old time ad for N.K. Fairbank Co (the company of a Chicago industrialist which ceased operations in 1903) could hardly be any more prejudiced. Advertising Fairy soap, it portrays a white girl dressed in a pretty dress asking a black girl wearing rags and no shoes: ‘Why doesn’t your mamma wash you with fairy soap?’ Of course race relations in America were very different back then, but faced with institutional racism this ingrained you begin to see what sort of challenge the Civil Rights Movement faced. Chrysler Plymouth
The racism in this 1940s ad for the Chrysler Plymouth is painful to see, though as some have noted is also good historical evidence of America’s bigoted past. Would a black chauffeur really be so excited about driving this latest automobile model? Or in reality would he be too busy hauling baggage and keeping his mouth shut to be grinning so widely and sharing in America’s excitement ‘over the luxury ride’? Let’s be honest: the only reason the chauffeur is there is to reaffirm the social supremacy of the white folks ready to be driven in the background – and those with the cash to make the purchase. Phillips-Van Heusen Shirts
This ad for American apparel giants Van Heusen – the world’s largest shirt company – was created in 1952. The prejudice is patent: four white men and a fifth tribesman looking slightly out of place are colourfully illustrated, while the caption reads: ‘4 out of 5 men want Oxfords… in these new Van Heusen styles.’ Mind you, back then Van Heusen wasn’t shy about its sexism either; other ads of the time depicted women submissively serving their men tea (‘show her it’s a man’s world) and even comically being spanked. (No objections to the latter mind you.) Macdonald’s Restaurants
At first sight, there may not seem anything intrinsically bad about this ad, but knowing the impact the world’s largest purveyor of cardiovascular time-bombs has had on the world, and that benignly grinning clown looks more evil by the second. Apart from the homogenising effect the golden arches have had on the global cultural landscape, McDonald’s ethics have come under criticism for the way they treat suppliers, staff, customers and the environment. And even putting aside rational argument, aren’t clowns the most evil invention ever dreamt up to entertain kids? Love’s Baby Soft Cosmetics
In this last ad it’s less the product – soft fragrance products – than the delivery of the message that makes it morally wayward. The photo shows a girl infantile enough to be cradling a cuddly toy, yet made up like a Parisian madam, with the slogan: ‘Because innocence is sexier than you think’? Call us over-enlightened, but to us the sexualisation of one so young smacks of creepiness dressed in the dirtiest of raincoats. It’s disturbing what came out of 70s in the same cultural current as the Jodie Foster of Taxi Driver and the Brooke Shields of Pretty Baby. Somebody call the vigilante mob.
Source: Business Pundit | 23 Mar 2010 | 3:36 pm Write-Offs: 03.23.10$$$ Corzine Returns to Wall Street as CEO of MF Global [Bloomberg] $$$ To The FDIC Small Is Beautiful [TBM] $$$ Feinberg Caps Pay At AIG, Others [WSJ] 
Source: Dealbreaker | 23 Mar 2010 | 3:30 pm Presented By:Source: Dealbreaker | 23 Mar 2010 | 3:30 pm Wall St jumps on industrials, materials and tech (Reuters)
Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 3:27 pm Bond issuers stay local in search for capitalincreasing demand for local currency bonds not only from foreign investors but also a growing number of domestic fundsSource: Financial Times - US homepage | 23 Mar 2010 | 3:22 pm Investment Tips, `Barbell’ Strategy, Home Sales: Taking StockSource: Bloomberg - All Podcasts | 23 Mar 2010 | 3:19 pm Podcast: Ok, He Signed It. Now What?
President Obama signs the health-care bill today. (Charles Dharapak/AP) President Obama signed the health-care bill today. You know this. So what does it mean? Millions of uninsured people will get health insurance. Millions of people with high incomes will pay higher taxes. Medicare spending will grow a little less. But the broader issue of rising health costs will remain a problem. Today's podcast explains all that, with the help of an uninsured manfriend and some very bad jokes. For more, check out this CBO report, this Kaiser Health News explainer, and the most interesting two hours of health care economics you'll ever hear, courtesy of This American Life. Download the podcast, or subscribe. Music: Beach House's "Norway." Find us: Twitter/ Facebook/ Flickr. » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Mar 2010 | 3:00 pm Have You Been Sexually Harassed Lately? You bitches don't know from sexual harassment. Apparently the answer is yes. Whether or not your boss doing things to you with whiteboard markers is a new occurrence or you were just scared to come forward and the financial crisis for some reason gave you the courage is unclear.
Does everyone go with the golden shower/choking you out/nicknaming you “stupid girl” model? Not really. That’s pretty much reserved for the pros. Most of you are getting you simply having your taints grazed while messing around on the desk (I’m not saying that makes it okay or trying to minimize it but I am saying: amatuer hour. Miss).
Source: Dealbreaker | 23 Mar 2010 | 3:00 pm Corzine to lead MF GlobalThe former chief executive of Goldman Sachs and governor of New Jersey will return to Wall Street to lead one of the world’s largest financial-futures brokeragesSource: Financial Times - US homepage | 23 Mar 2010 | 2:44 pm Saudi Arabia to Allow Islamic Bond ETFs: AudioSource: Bloomberg - All Podcasts | 23 Mar 2010 | 2:13 pm Saks Raised to `Overweight' at JPMorgan: AudioSource: Bloomberg - All Podcasts | 23 Mar 2010 | 2:11 pm Global derivatives disclosure to riseA transatlantic row that flared up in the wake of the Greek debt crisis over the lack of disclosure to regulators of credit market activity has pushed the new body in charge of collecting global trading data to provide more information to financial watchdogsSource: Financial Times - US homepage | 23 Mar 2010 | 1:21 pm How Did The Large US Airlines Stack Up Last Year?By Robert Herbst For 2009, the nine largest airlines accumulated just over $4 billion in net losses. 2008 wasn’t much better with a $3.5 billion loss. So far, 2010 projections show a $2.7 billion net profit coming from $120 billion in operating revenue. This article analyzes nine key financial and operational categories. A brief 2010 outlook is included at the end. The [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Mar 2010 | 1:02 pm ConocoPhillips and Lukoil Exit… Some or All (COP, XOM, BRK-B)ConocoPhillips (NYSE: COP) is living up to its promise, or at least trying to live up to the promise of selling some $10 billion in assets. According to reports from Reuters and from Dow Jones, the company has told OAO Lukoil Holdings that it plans to sell half ConocoPhillips’ stake in Lukoil. ConocoPhillips acquired a [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Mar 2010 | 12:04 pm Dean Baker: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 23 Mar 2010 | 11:55 am Nomura’s Nordvig: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 23 Mar 2010 | 11:53 am Pangea’s McDonald: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 23 Mar 2010 | 11:52 am How’s KB Home’s Housing Recovery-Where Do You Live?KB Home (NYSE:KBH) just reported first quarter 2010 numbers. Data the company disclosed reveals a possible housing recovery. Yet there are wide geographic disparities in the state of the housing market with some areas still experiencing a correction. First, let’s look at inventory pricing (primarily land and investments). KB took a non-cash charge of $13.4 million [...][[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Source: 24/7 Wall St. | 23 Mar 2010 | 11:25 am Moore Capital London Office Raided, At Least One Employee Arrested
Update: A suspect and statement from Moore, via the WSJ:
Source: Dealbreaker | 23 Mar 2010 | 11:15 am FTSE 100 shares rise (AFP)
Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 11:09 am The World’s Best CEO TiradesIt’s not easy being top dog. CEOs have to deal with demanding customers, employees, investors, and the public at large on a regular basis. You can’t blame them for having a moment now and then. Some CEOs, however, express themselves with reckless abandon. Especially when it comes to anger. From passive-aggressive impersonation to atomic outbursts, these chiefs go above and beyond their call of duty to make their moods heard. Here are 12 of the best tirades in recent CEO history. 12. Aaron Wider Let’s say you actually had to pay someone for the privilege of using the F-bomb. How much would you fork out? $30, or maybe, $100 a pop? U.S. District Judge Eduardo C. Robreno of Philadelphia had his price gun out when Aaron Wider, CEO of mortgage investment company High Tech Financial, was trying to fend off a GMAC lawsuit in a deposition. Wider used expletives an impressive 73 times. His going rate? $401 per utterance, or $29,000 for one day in deposition. (By the way, Wider’s mortgage company, HTFC, won the case. The judge dismissed it months later.) 11. Carol Bartz Carol Bartz took the helm at Yahoo in January ‘09. The former Autodesk chief tends to vocalize what most CEOs keep to themselves. Her first quarter conference call included this gem: “We had a lot of people running around but nobody fucking doing anything!” At an all-hands meeting, Bartz told the staff that she’d “dropkick to fucking Mars” anyone whose company gossip ended up on the blogs. Business Insider has more fun Bartz quotes: On Autodesk competitor Adobe: “What the fuck does Adobe know about engineering drawings?” On speaking at conferences in the dotcom bubble: “I’d go to investor conferences—with standing room only at presentations by Used-Fucking-Golfballs.com—and I’d get four shareholders listening to me.” And, finally: “Tell me why I shouldn’t fire the whole lot of you.” 10. Philip Meeson
While passenger’s applauded Meeson’s expletive-laced tirade, employees called the police on their CEO. Meeson quickly calmed down after receiving a warning. He has also promised to implement a “queue-less check-in” this year. Meeson probably wasn’t deterred by the fact that Jet2 landed some good publicity after his explosion. 9. Marc Cuban
Self-made billionaire and Dallas Mavericks owner Marc Cuban has a few bucks to throw around. But even he was surprised when the NBA sent him the largest fine in sports history. Cuban was fined $500,000 for slamming the NBA officiating system and its director, Ed Rush, by saying “I wouldn’t hire him to manage a Dairy Queen. His interest is not in the integrity of the game or improving the officiating.” As you might imagine, Dairy Queen got a little upset, too. In an act of goodwill, Cuban worked at a DQ for a full day, 6am to 5pm. Incidentally, that little trick win him $1 million in publicity. Even when Cuban loses money, he is making it. 8. Bill Gates
Bill Gates seems nice and soft-spoken. After all, how can you take offense from a guy with hair that unkempt? But Bill can get on his high horse and yell it out with the best of them. When a Java programmer tried to steer Microsoft away from bundling IE with Windows, the former Microsoft CEO exploded in front of his whole staff. “Why don’t you just give up your options and join the Peace Corps?” He then directed his rage to everyone else: “Hasn’t anybody here ever heard of Windows? Windows is what this company is about!” Bill got his way, resulting in myriad international monopoly indictments. Nobody knows whether that Java programmer joined the Peace Corps afterward. 7. John Mackey
John Mackey, CEO of Whole Foods, had it out for Wild Oats, a competitor he wanted to take over. Instead of cussing or throwing chairs, Mackey went undercover. Using the fake handle “Rahodeb,” he posted entries extolling Whole Foods stock and degrading Wild Oats on Yahoo Finance forums. They included “bankruptcy remains a distinct possibility” and “the endgame is underway now.” They also included posts like “I like Mackey’s haircut. I think he looks cute!” The FTC sued to block the merger and eventually lost. That leaves legions of crazy CEOs to blog away. Just remember to keep that moniker anonymous. 6. Randy Michaels
Imagine that your company is going bankrupt. You want to redirect the ship, but your attempts turn out to be terribly misguided. When you fail miserably, what do you do? Implicate the journalist who broke the story of your inanity, of course. Tribune Company CEO Randy Michaels recently tried to remind his tiny WGN-AM 720 station of his alpha-dog status. He sent out a missive detailing 119 ridiculous words and phrases that reporters and anchors on that station should no longer use. Banned words include “auto accident” and “world class.” Mr. Michaels later called in WGN staff to clarify his bizarre move, practically slandering the reporter who broke the story in the process. Going forward, everyone will have to wait for the aftermath of this story (That last sentence include three banned words and phrases). 5. Jonathan Ornstein
You know the kind of boss who just sets the tone for a really tense day the moment he walks through the door? Well, Mr. Ornstein has a reputation for being that guy. His former assistant tallied the total amount of time her boss was screaming and in a bad mood at about “60%, maybe even higher.” His famous tirades against unions–the Air Line Pilots Association in particular–led to 50 pilots leaving per month between Jan 07-08. Perhaps that moodiness is one reason Mesa filed for bankruptcy in January 2010. 4. Bob Hoffman
The CEO of San Francisco’s Hoffman/Lewis ad agency doesn’t have temper tantrums so much as he lets out a constant stream of drivel on his blog, The Ad Contrarian. When I first peeked at it, I was greeted with “You see, writing this blog is a big pain in the ass.” BNet has some more quotable quotes: Someone must have dick-slapped the guy who wrote the article I “assigned” because he has since disclaimed his initial mistake. I was thinking that maybe advertising was the world’s number one bullshit profession. …the “media elite” in this country are a fucking disgrace. And if it’s so ifuckingconic, why does it need to be “reinvented?” You have to admit, he makes some good points. 3. Walt Baker
You would think the CEO of the Tennessee and Greater Nashville Hospitality Association would have some PR tact. So, it was a bit surprising when some of Walt Baker’s associates received an email comparing the first lady, Michelle Obama, to Tarzan’s sidekick, Cheeta–a chimpanzee. He opened his racist joke with the phrase “I don’t care who you are, this is funny” (a Larry the Cable Guy-ism). The day after the email went out, Baker’s side business, Mercatus Communications, lost 100% of their clients. Baker himself is no longer employed. 2. Dov Charney
American Apparel’s CEO, Dov Charney, is no stranger to controversy. His company’s marketing practices, coupled with rumors about his personal hiring practices and allegations of running a sweatshop, have certainly helped him sell some shirts. In 2008, a female veteran of the company made it official in a tasty little lawsuit. A quick read of the transcript gives countless nuggets of vocal tirades. They culminate in this golden quote: “”I don’t give a fuck about you, your dinner or your fucking life, I have thousands of employees. I don’t need to waste my time on you.” Now, that’s classy! 1. Steve Ballmer It’s tough to lose good talent. It’s even tougher when they defect to a direct competitor. When Microsoft’s Mark Lucovsky put in his two weeks’ notice, Mr. Ballmer replied by saying “just tell me it’s not Google.” Lucovsky replied that yes, it was Google. “At that point, Mr. Ballmer picked up a chair and threw it across the room hitting a table in his office,” said Lucovsky in a later account, adding that Mr. “Ball-of-Joy” then directed his fury at Google CEO Eric Schmidt. “I’m going to fucking bury that guy. I have done it before, and I will do it again. I’m going to fucking kill Google.” Mr. Lucovsky would later leave Google for VMware. We wonder how Eric Schmidt handled that.
Source: Business Pundit | 23 Mar 2010 | 10:33 am Biz groups cautious about health reformAs President Obama put his signature on the hard-fought health reform bill, some business groups were still complaining it fails to deliver what they need. Bob Moon reports.Source: Marketplace | 23 Mar 2010 | 10:22 am Where we are with exec compensationPay czar Kenneth Feinberg talks with Kai Ryssdal about his 2010 report on executive compensation and whether there is still public anger over what corporate America is making.Source: Marketplace | 23 Mar 2010 | 10:22 am Downturn hits blue collar workers hardWhile the Great Recession has spared certain sectors of the job market, it's looked more like the Great Depression for America's blue collar workforce. Dan Bobkoff reports.Source: Marketplace | 23 Mar 2010 | 10:22 am Humboldt weighs impact of legal potEllen Komp, deputy director of California Normal, talks with Kai Ryssdal about the effect legalizing marijuana might have in Humboldt County and what some of its residents are worried about.Source: Marketplace | 23 Mar 2010 | 10:22 am Why are U.K. elections so cheap?The U.S. Supreme Court ruling on campaign financing will most certainly change the amount of money spent in upcoming elections. But in the U.K., there's a different attitude towards political advertising. Christopher Werth reports.Source: Marketplace | 23 Mar 2010 | 10:22 am Fallout from Google leaving ChinaGoogle's decision to shut down the Chinese version of its site because of censorship rules is having big repercussions. Jeremy Hobson reports on fears that some companies may cut all ties with the tech giant in order to stay in good graces with Beijing.Source: Marketplace | 23 Mar 2010 | 10:21 am What's the plan for Fannie and Freddie?Treasury Secretary Timothy Geithner got a grilling from impatient lawmakers on Capitol Hill who want to know what the Obama administration is going to do about mortgage giants Fannie Mae and Freddie Mac. Nancy Marshall Genzer reports.Source: Marketplace | 23 Mar 2010 | 10:21 am Powell on U.S.-China Relations, Trade, Health Care: VideoSource: Bloomberg - All Podcasts | 23 Mar 2010 | 10:05 am Orrin Hatch Discusses Health-Care Legislation: VideoSource: Bloomberg - All Podcasts | 23 Mar 2010 | 9:54 am 10 Great Mutual Funds You've Never Heard of (U.S. News & World Report)U.S. News & World Report - Zeke Ashton knows a thing or two about playing defense. In 2008, for instance, his Tilson Dividend Fund beat the market by 18 percent. Meanwhile, for the trailing three years, the fund's returns land it in the top 1 percent of Morningstar's mid-cap blend category.Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 9:34 am Few Bailed Out Bank Execs Made Good On Promises To Quit
Sure, or maybe it was this.
Source: Dealbreaker | 23 Mar 2010 | 9:00 am Apollo Global files for $50 million IPO (AP)AP - Apollo Global Management LLC said late Monday that it is planning an initial public offering of up to $50 million, following rival private equity firm KKR & Co. LP to the New York Stock Exchange.Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 8:58 am Starbucks, Ben & Jerry’s Make Today SweeterIf you have a sweet tooth, today is your day. Ben & Jerry’s is holding its annual Free Cone Day. They’re offering a free cone for anyone who visits between 12pm-8pm today. It’s also Free Pastry Day at Starbucks. Just present them the coupon below. (Note that this promo only goes until 10:30am.) Happy eating!
Source: Business Pundit | 23 Mar 2010 | 8:54 am Charlie Gasparino: Lloyd Blankfein Was Probably Due $100 MillionWatch the latest business video at video.foxbusiness.com
Source: Dealbreaker | 23 Mar 2010 | 8:30 am Senator Judd Gregg: Surveillance With Prewitt and KeeneSource: Bloomberg - All Podcasts | 23 Mar 2010 | 7:50 am Money Brawl: Private Equity Fights Big InvestorsBy Jacob Goldstein Say you're a private equity shop, and a bunch of your biggest investors band together and start asking for stuff like limits on your management fees and increased transparency. Do you give them what they want? Not if you can help it. A group of institutional investors that includes some of the nation's largest pension funds has come out with a set of principles it wants the private equity industry to follow. In response, this morning's WSJ reports, at least three big private equity shops have hired lawyers to see whether the pension funds are violating antitrust laws by banding together. Sure, antitrust laws usually apply to sellers conspiring to fix prices or create monopolies. But apparently, customers (in this case, the private equity firms' investors) can be accused of antitrust behavior as well. "When customers get together and say we can't get them to lower their prices unilaterally but can only do it collectively, that looks a lot like price fixing," a law professor told the WSJ. The basic private-equity model is for firms to charge management fees that cover their operating expenses, and to share any profits that their funds make. But during the boom, the WSJ says, the fees themselves became major sources of income for some firms. The principles the investors are pushing say that "fees should cover normal operating costs for the firm and its principals and should not be excessive." » E-Mail This » Add to Del.icio.us Source: NPR Blogs: Planet Money | 23 Mar 2010 | 7:49 am Adam Segal: Bloomberg On the Economy With Tom KeeneSource: Bloomberg - All Podcasts | 23 Mar 2010 | 7:48 am Punishment For UBS Tax Evaders Actually Not That Bad A DealAre you one of the UBS clients who maybe used the firm to get around paying your some or all of your taxes? Have you been considering whether or not to come forward and admit it, not because of the shame (there’s no shame in this! Except that you’re lumped in the same category as Tim Geithner, which is a little hard to swallow), but because of the possible jail time? It turns out these sentences aren’t so bad! They probably won’t send you downtown and, if you get lucky like this guy, you’ll get to play the slots at your leisure.
Source: Dealbreaker | 23 Mar 2010 | 7:45 am Presented By:Source: Dealbreaker | 23 Mar 2010 | 7:00 am Opening Bell: 03.23.10Treasury’s Geithner Urges End to Fannie, Freddie ‘Ambiguity’ (Bloomberg) Buffett May Pursue Liquor Distributors After Purchase of Empire’s Parent (Bloomberg) Broke? Buy a few warships, France tells Greece (Reuters) NY is newest Madoff victim (NYP) Taxi Scheme Might Be Smaller Than Commission First Thought (NYT) ‘Enormous’ adviser fees spark warning (FT) How Much Money Is Your Dead Body Worth? (CNBC)
Source: Dealbreaker | 23 Mar 2010 | 7:00 am FTSE 100 rises in early trade (AFP)
Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 6:12 am European stocks rally, led by Cairn Energy (AFP)
Source: Yahoo! News: Stock Markets News | 23 Mar 2010 | 5:41 am The Underlying Logic of Piracy
Source: Business Pundit | 23 Mar 2010 | 4:16 am
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