11/11 DailyFinance

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. DailyFinance Sarah Palin's memoir: Why the math might not add up for HarperCollins November 10, 2009 at 8:00 pm Filed under: Media, Wal-Mart Stores, Target Corp., Amazon.com, Inc., News Corp. Love her or hate her, Sarah Palin, the former Alaska governor and Republican vice presidential candidate, is always a hot topic of conversation in the media. Her memoir, Going Rogue: An American Life, slated for release by News Corp.'s (NWS) HarperCollins next Tuesday, November 17, is no exception; it's been making news since the ink dried on the deal made last May. Going Rogue was one of 10 books selected for massive discounting by Amazon (AMZN), Walmart (WMT), and Target (TGT) in their ongoing price war. Palin made headlines last month when she revealed that HarperCollins had paid her a $1.25 million "retainer" sometime between January 1 and July 26, the day she stepped down as Alaska governor. Oprah Winfrey has her booked on her show next Monday, which the author will follow with a bus tour to far-flung corners of the country (or as she famously called them during the 2008 campaign, "the real America"). No less than three books about Palin are slated for publication around the same time, including a parody called Going Rouge: An American Nightmare. Continue reading Sarah Palin's memoir: Why the math might not add up for HarperCollins Sarah Palin's memoir: Why the math might not add up for HarperCollins originally appeared on DailyFinance on Tue, 10 Nov 2009 20:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Oil shortage? Sources charge U.S. influence inflates world's supply November 10, 2009 at 7:00 pm Filed under: Energy, Economy, People Will the world soon run out of oil or are we swimming in the stuff? That debate just got a little murkier following a report in the Guardian newspaper that figures detailing how much oil the world has on tap have been distorted in deference to the United States. The report quotes a current employee and a former staffer at the International Energy Agency, an intergovernmental group that coordinates measures during oil-supply emergencies, among other tasks. Despite forecasts that call for production to steadily rise by 2030, the world will likely instead see output decline, the U.K.-based newspaper reports, quoting an anonymous whistleblower at the IEA. The senior official claims the U.S. has been influential in encouraging the watchdog agency to play down the rate of decline from existing oil fields while over emphasizing the chances of finding new reserves, the Guardian said. Continue reading Oil shortage? Sources charge U.S. influence inflates world's supply Oil shortage? Sources charge U.S. influence inflates world's supply originally appeared on DailyFinance on Tue, 10 Nov 2009 19:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Ma Bell's wake-up call: Deals among Net calling firms may sap big telcos' revenue November 10, 2009 at 6:45 pm Filed under: Google , Research In Motion, Apple, AT&T, Verizon Phones are ringing off the hook at businesses that facilitate making calls over the Internet. With the apparent resolution of the spinout of Net calls pioneer Skype several days ago has come frenzied dealmaking in the VoIP -- short for voice over Internet protocol -- space. First, Google bought startup Gizmo5. Now, as TechCrunch reports, there is a bidding war ongoing for JahJah, a Skype-like service that offered low-cost calling to tens of millions of users of Yahoo's (YHOO) instant messenger service. Numbers thrown around for the deal are a whopping $200 million to $400 million, a significant sum in the current environment. Continue reading Ma Bell's wake-up call: Deals among Net calling firms may sap big telcos' revenue Ma Bell's wake-up call: Deals among Net calling firms may sap big telcos' revenue originally appeared on DailyFinance on Tue, 10 Nov 2009 18:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Western Union, Wyclef Jean killing us softly with prepaid gift-card fees November 10, 2009 at 6:15 pm Filed under: Company News, Economy, American Express Western Union (WU) is expanding into the business of prepaid debit and credit cards, and Wyclef Jean is selling them softly with his song and his star power. Jean, the Grammy-winning rapper and former Fugee, is helping the money-sending service launch a co-branded prepaid Visa gift card, just in time for the holidays, tapping his appeal as a humanitarian leader to solidfy Western Union as the remittance leader among immigrants, who often send money home during the holiday season. The U.S. Immigration Department estimates that worldwide remittances total more than $126 billion. Continue reading Western Union, Wyclef Jean killing us softly with prepaid gift-card fees Western Union, Wyclef Jean killing us softly with prepaid gift-card fees originally appeared on DailyFinance on Tue, 10 Nov 2009 18:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Two Bear Stearns hedge fund managers are off the hook for the financial crisis November 10, 2009 at 5:45 pm Filed under: Company News, People, Investing It looks like any Americans eager to pin the blame for the financial crisis on particular Wall Street bankers have just missed a chance. How so? Two financial-crisis scapegoat candidates wriggled out of that role on Tuesday, thanks to the decision of a jury in Federal District Court in Brooklyn, N.Y. The jurors decided that Ralph R. Cioffi and Matthew M. Tannin, who formerly managed two Bear Stearns hedge funds that imploded back in June 2007, did not lie to investors and that Cioffi did not violate laws against insider trading, according to the New York Times. This seems fine to me because I don't think they should get the blame for the financial crisis. Continue reading Two Bear Stearns hedge fund managers are off the hook for the financial crisis Two Bear Stearns hedge fund managers are off the hook for the financial crisis originally appeared on DailyFinance on Tue, 10 Nov 2009 17:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Temp jobs and temp stocks boom as Fed predicts 'jobless recovery' November 10, 2009 at 5:30 pm Filed under: Economy While massive layoffs continue to mount even as the unemployment rate blows past 10%, the market for temporary hires is booming. On Friday, the Labor Department said that temporary-worker payrolls rose by 34,000 in October -- the biggest gain in two years. It was the third consecutive monthly gain in temporary employment, even as the overall unemployment rate soared to a 26-year high of 10.2%. Adecco (AHEXY) -- the world's biggest temporary employment firm -- reported better than expected third-quarter earnings amid a pickup in demand. The boom in temp jobs has been seized on as a ray of light in an otherwise dismal jobs report, since temp hiring has sometimes foreshadowed broader hiring by a few months. But as investors look for clues about the unemployment picture -- which has sweeping implications on items ranging from consumer demand to the Fed's decisions on interest rates -- they should take some major shifts in the U.S. economy into account before relying on a replay of history. Continue reading Temp jobs and temp stocks boom as Fed predicts 'jobless recovery' Temp jobs and temp stocks boom as Fed predicts 'jobless recovery' originally appeared on DailyFinance on Tue, 10 Nov 2009 17:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Amid this recession, even the burglars are out of work November 10, 2009 at 5:10 pm Filed under: Economy, People Conventional wisdom has it that as the economy sours, crime picks up. Faced with job losses and few other opportunities, it might be expected that an increasing number of people would turn to illegal acts, such as burglary, to make a living. Except that it's not happening -- not in this recession, anyway. Many U.S. cities, regardless of size, are seeing fewer burglaries in this period of economic woe. In Minneapolis, the number of burglaries reported during roughly the first nine months of the year fell more than 15% compared to the same span a year ago, The Associated Press reported. Compared to 2007, the decrease is even more dramatic -- down 25%. Continue reading Amid this recession, even the burglars are out of work Amid this recession, even the burglars are out of work originally appeared on DailyFinance on Tue, 10 Nov 2009 17:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Lawsuit claims rampant sex harassment, race discrimination at N.Y. Post November 10, 2009 at 4:50 pm Filed under: People, Media, News Corp. Nobody ever accused the New York Post of being a hotbed of political correctness. But according to a lawsuit filed Monday, the Rupert Murdoch-owned tabloid is more than just another rowdy newsroom where off-color jokes are tolerated -- it's a place where women are harassed and propositioned by their male bosses, minority workers are mocked and marginalized, and those who object too loudly are subject to retaliation. Those are the allegations of Sandra Guzman, a former associate editor who was terminated by the Post last month. The only black or Hispanic editor at the right-wing tabloid, she was also the only staffer to go public with her disapproval of a cartoon published in March that was seen by many as a racist attack on President Obama and led to protests outside the Post's offices (pictured). Her dismissal provoked speculation that she had been fired in retribution for breaking ranks and giving the paper's critics ammunition. Continue reading Lawsuit claims rampant sex harassment, race discrimination at N.Y. Post Lawsuit claims rampant sex harassment, race discrimination at N.Y. Post originally appeared on DailyFinance on Tue, 10 Nov 2009 16:50:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments AIG may be able to repay the U.S. after all, Moody's now says November 10, 2009 at 4:30 pm Filed under: Company News, Economy, American International Group, INC. Just how much taxpayers will recoup of the $700 billion set aside last fall to bolster companies hard hit by the credit crisis has been a matter of debate for more than a year. And because American International Group (AIG), the deeply troubled insurer that's 80%-owned by the U.S. government, has received such a big bailout, it has frequently been in the center of that debate. Surprisingly, however, Moody's Investors Service (MCO) now says AIG may be able to pay back much more of that government aid than first thought. In fact, the credit-rating firm said in a report Tuesday that AIG will probably be able to repay all of the more than $180 billion it has received from taxpayers as well as buy back the government's stake in the company. Continue reading AIG may be able to repay the U.S. after all, Moody's now says AIG may be able to repay the U.S. after all, Moody's now says originally appeared on DailyFinance on Tue, 10 Nov 2009 16:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Stocks end session on quiet note, day after hitting 2009 highs November 10, 2009 at 4:09 pm Investors cooled their buying of stocks and commodities, pausing from a surge that carried major stock indexes to their highest levels in more than a year. Stocks ended mixed Tuesday. The Dow Jones industrials tacked on 20 points a day after shooting up 200 points for the second time in three days. The market again took its direction from the dollar, as it has for months. Stocks drove higher Monday as the dollar weakened and slipped Tuesday as the currency rose. Continue reading Stocks end session on quiet note, day after hitting 2009 highs Stocks end session on quiet note, day after hitting 2009 highs originally appeared on DailyFinance on Tue, 10 Nov 2009 16:09:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments These 10 big-name stocks have doubled this year. Can they keep it up? November 10, 2009 at 3:35 pm Filed under: Company News, Investing, Expedia, Ford Motor Co., Motorola, Nordstrom, salesforce.com, Apple, Amazon.com, Inc., Whole Foods, Office Depot, Tenet Healthcare The S&P 500 index is so far having a fine year, up a bit more than 20%. But several big-company stocks in the index have doubled, or better, over that time. Among the best-performers are some of Amerca's most well-known companies. Here's a look at 10 of those and their prospects of advancing further -- or sliding back into the large pack of equities that have had only modest advances during the current bull market (all prices are as of the close on Nov. 9). Continue reading These 10 big-name stocks have doubled this year. Can they keep it up? These 10 big-name stocks have doubled this year. Can they keep it up? originally appeared on DailyFinance on Tue, 10 Nov 2009 15:35:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Madoff's belongings up for auction: How much for Bernie's boogie board? November 10, 2009 at 3:30 pm Filed under: Economy, People, Media Half the pain of selling keepsakes and mementos lies in the realization that one's life is worth only a fraction of "face value." But for Bernie Madoff, it looks like the opposite may be true. On Saturday, the U.S. Marshal's office will be auctioning off approximately 200 pieces of Madoff's life in an attempt to raise money for his victims. The event will be held at the New York Sheraton Hotel and Towers, and registered bidders will also be able to attend through auctioneer Gaston & Sheehan's website. Continue reading Madoff's belongings up for auction: How much for Bernie's boogie board? Madoff's belongings up for auction: How much for Bernie's boogie board? originally appeared on DailyFinance on Tue, 10 Nov 2009 15:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Berlin brothel offers eco-friendly discount: Bike-riding customers pay less November 10, 2009 at 3:00 pm Filed under: Economy, Green Berlin is now home to Germany's first eco-friendly brothel, which offers discounts to customers who arrive by bicycle or public transport. Patrons who show a bus or tram ticket, or a bike helmet or padlock key as proof that they didn't drive, receive a 5-euro ($7.50) discount -- dropping the cost of a 30-minute tryst from 50 euros ($75) to 45 euros ($67). This kind of promotion "is something never seen before in this business in Berlin," brothel owner Thomas Goetz tells DailyFinance. Goetz, who owns Maison d'Envie (House of Desire), hoped the promotion would boost business, which he says has been flaccid since the economic crisis began. Apparently, would-be customers have pared back discretionary spending in all areas, including sex. Goetz and his mother, Regina, who manages the business, bet that an environmentally friendly initiative would do the trick. "We have a problem with parking here, and it's better to come by tram, bicycle or foot," Regina Goetz explains. "And it's better for the environment." Continue reading Berlin brothel offers eco-friendly discount: Bike-riding customers pay less Berlin brothel offers eco-friendly discount: Bike-riding customers pay less originally appeared on DailyFinance on Tue, 10 Nov 2009 15:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Answering the 'Call of Duty' too soon: Game release ill-timed after Fort Hood November 10, 2009 at 2:00 pm Filed under: Company News, Media Should Activision Blizzard (ATVI) have delayed the release of Call of Duty: Modern Warfare 2, perhaps the most eagerly anticipated video game of the year, while the memories of the massacre at Fort Hood are still fresh? Maj. Nidal Malik Hasan, an Army psychiatrist, allegedly shot 13 people at the Texas military base last week. Law enforcement officials are probing Hasan's ties to terrorist organizations. President Barack Obama and first lady Michelle Obama are attending memorial services for the fallen at the base today. With all of this in the background, the timing of the game's launch seems tacky. Continue reading Answering the 'Call of Duty' too soon: Game release ill-timed after Fort Hood Answering the 'Call of Duty' too soon: Game release ill-timed after Fort Hood originally appeared on DailyFinance on Tue, 10 Nov 2009 14:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments Aha! Oprah Winfrey, Mutual of Omaha end dispute over phrase November 10, 2009 at 1:15 pm Filed under: People, Media Is anyone other than Oprah Winfrey allowed to have an "aha! moment"? Apparently so -- but it's best to get her blessing first. Mutual of Omaha has withdrawn a lawsuit aimed at establishing its right to use that phrase in an advertising campaign after reaching a settlement with Harpo Productions, Winfrey's media company. Terms of the settlement were not made public, and neither company is saying much, but as of now, a website promoting the campaign is still online, complete with the disputed tagline "Mutual of Omaha: Proud sponsor of life's aha moments." The site features videos of real people talking about the epiphanies that changed their lives for the better. Continue reading Aha! Oprah Winfrey, Mutual of Omaha end dispute over phrase Aha! Oprah Winfrey, Mutual of Omaha end dispute over phrase originally appeared on DailyFinance on Tue, 10 Nov 2009 13:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments The future of solar, water and greentech: Talking with A-list VC guy Brian Hinman November 10, 2009 at 1:00 pm Filed under: Energy, Technology, First Solar, Green On a recent trip down to Silicon Valley from San Francisco, I got a chance to sit down for an extended discussion with Brian Hinman. He is one of a growing number of A-list venture capitalists who have jumped the fence from IT into alternative energy and greentech ventures. Oak Investment Partners is one of the most venerable venture capital firms in the country, and Hinman is the firm's point man on greentech. He's the kind of guy that you have to listen to based on his track record -- co-founder of a two successful companies and a former CEO of a third. Hinman founded Picturetel, which was later acquired by telecom equipment company PolyCom (PLCM). Hinman then founded 2Wire, another telecom equipment company that ended up with revenues greater than $300 million. So this is a guy with no Internet fluff in his pillow. Hinman is a hard-core engineer with 12 patents to his name. Hinman also loves to talk ideas about greentech innovations and sits on the boards of seven different Oak greentech portfolio companies. He has a fairly encyclopedic knowledge of the industry. Our talk ranged widely, so I've edited heavily. Here are some brief excerpts from our conversation: Continue reading The future of solar, water and greentech: Talking with A-list VC guy Brian Hinman The future of solar, water and greentech: Talking with A-list VC guy Brian Hinman originally appeared on DailyFinance on Tue, 10 Nov 2009 13:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments The FHA's reserve fund could be a black hole for U.S. taxpayers November 10, 2009 at 12:40 pm Filed under: Economy, Investing As mortgages continue to sour, the Federal Housing Administration's reserve fund continues to deteriorate. That's not a big surprise. What might be a surprise is the fact that the FHA can get bailout money from the U.S. Treasury without seeking approval from Congress. An automatic FHA bailout is part of the 1990 law under which the FHA turns over to the Treasury any excess money the agency collects in insurance premiums after it pays out its losses. This excess money goes into an FHA emergency reserve fund. Whenever the FHA needs money, it can draw from the reserve fund. The surprising thing is that there is no limit on the amount that can be withdrawn from the the reserve fund. All FHA loans are backed by the full faith and credit of the government, so if the FHA needs more than the amount of funds in the emergency reserve, it gets it, without the need for Congressional approval. Continue reading The FHA's reserve fund could be a black hole for U.S. taxpayers The FHA's reserve fund could be a black hole for U.S. taxpayers originally appeared on DailyFinance on Tue, 10 Nov 2009 12:40:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments Harlequin launches digital-only imprint. Will other big houses feel the romance? November 10, 2009 at 12:20 pm Filed under: Company News, Technology, Media, Time Warner, Amazon.com, Inc., News Corp. For a publisher celebrating its 60th anniversary this year, Harlequin has been thinking ahead. Much of the voluminous catalog from the romance publisher is available for digital download in multiple formats, so fans of steamy novels can access all they want on their Kindles, iPhones, and netbooks at the ready, without worrying that particular titles will disappear from bookstores when the next month's titles arrive. Harlequin's longstanding policy of acquiring worldwide rights in all formats means it has the means to reach a global audience with whatever reading format they choose: print, digital, audio, or something that doesn't exist yet. So it seems like a no-brainer that Harlequin, a division of Toronto-based Torstar Corp. (TORSF), would launch an imprint devoted exclusively to digital books. But Carina Press, which will operate independently of Harlequin, might pave the way for major publishers to put their money where their e-book mouth is. Continue reading Harlequin launches digital-only imprint. Will other big houses feel the romance? Harlequin launches digital-only imprint. Will other big houses feel the romance? originally appeared on DailyFinance on Tue, 10 Nov 2009 12:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Home sales surge in third quarter, price decline slows November 10, 2009 at 12:00 pm Filed under: Economy, People, Investing Sales of existing homes continue to improve, increasing 11.4% to a seasonally adjusted annual rate of 5.30 million units in the third quarter, compared to 4.76 million units in the second quarter. Existing home sales, which include condos and single-family homes, are now 5.9% above the 5.01 million-unit pace in the third quarter of 2008, according to the National Association of Realtors (NAR). Sales increases were seen in 45 states and the District of Columbia, with 28 states experiencing double-digit gains. Lawrence Yun, NAR chief economist, said in a press release, "We can't underestimate just how powerful a catalyst the first-time home buyer tax credit has been for the housing sector. It has given buyers the confidence they needed to get off the fence and take advantage of extremely affordable housing conditions. The buying conditions this year are the most favorable on record dating back to 1970, but the tax credit is allowing buyers to set aside any reservations about waiting for a better deal." Continue reading Home sales surge in third quarter, price decline slows Home sales surge in third quarter, price decline slows originally appeared on DailyFinance on Tue, 10 Nov 2009 12:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments Yahoo's Carol Bartz talks turnaround, says 'no delay' on Microsoft search deal November 10, 2009 at 11:40 am Filed under: Company News, Technology, People, Google , Microsoft, Yahoo In the technology world, every day seems like Google day. Or Apple day. Or Microsoft day. Or Facebook day. Or Twitter day. So where the heck is Yahoo (YHOO), the erstwhile search titan that has suffered humiliating trials and tribulations over the last two years? Answer: It's plotting and planning to regain its lost luster, according to still-relatively-new CEO Carol Bartz. During a luncheon hosted by the American Chamber of Commerce on Tuesday in Singapore, Bartz sounded bullish notes about Yahoo, as well as the broader economy. Continue reading Yahoo's Carol Bartz talks turnaround, says 'no delay' on Microsoft search deal Yahoo's Carol Bartz talks turnaround, says 'no delay' on Microsoft search deal originally appeared on DailyFinance on Tue, 10 Nov 2009 11:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Another Ponzi schemer steals millions by writing his own report card November 10, 2009 at 11:20 am Filed under: People, Investing The Securities and Exchange Commission is an unindicted co-conspirator in the Ponzi schemes that have emerged over the last few years. It created the conditions that left huge opportunities for the ambitious and unscrupulous to dupe investors. And it shows no inclination to fix the problems. What I'm talking about -- as I've posted many times before -- is that unlike in school, where teachers write students' report cards, in money management, the managers grade themselves. This huge flaw in our regulatory system comes to mind with the discovery of this latest little Ponzi scheme. In this one, as Fortune reports, a piece of Georgia trailer trash made his way north to Pennsylvania and wormed his way into the good graces of the old-money, polo-playing set south of Philadelphia. This character -- dubbed Tony Young -- then persuaded his new-found admirers to invest $120 million of their great-great-grandfathers' money with his company, Acorn Capital Management LLC. Of that, Young allegedly stole $23 million. Continue reading Another Ponzi schemer steals millions by writing his own report card Another Ponzi schemer steals millions by writing his own report card originally appeared on DailyFinance on Tue, 10 Nov 2009 11:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments China ignores IMF warnings, continues massive stimulus spending November 10, 2009 at 11:00 am Filed under: Economy, Investing As China moves closer to overtaking Japan as the world's second-largest economy, it's flexing its new found muscle and ignoring warnings from the International Monetary Fund regarding its credit growth rate and the value of the yuan. China began a 4 trillion yuan ($586 billion) two-year stimulus in November 2008 and plans to continue on that path. Since China ties the yuan to the U.S. dollar, that stimulus is essentially being done at our 0% interest rate -- reasonable in our weak economy, potentially dangerous in China's surging one. Many worry that inflation will take off if China doesn't put on the brakes sooner. Others worry that China could be heading into an asset bubble that could magnify its problems down the road. But right now, China is enjoying a high level of investment in desperately needed infrastructure improvements. In fact, 7.3 percentage points of its 7.7% increase in gross domestic product came from investments in infrastructure improvements in the first nine months of 2009. Continue reading China ignores IMF warnings, continues massive stimulus spending China ignores IMF warnings, continues massive stimulus spending originally appeared on DailyFinance on Tue, 10 Nov 2009 11:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments Consumer groups blast Obama's secret ACTA talks as Murdoch vows piracy crackdown November 10, 2009 at 10:30 am Filed under: Media Consumers groups have accused President Barack Obama of favoring a global trade agreement -- currently being negotiated in secret on national security grounds -- that would include harsh provisions similar to France's "three strikes" law, which cuts off internet access for repeated digital piracy. In a letter sent to Congress, the consumer groups expanded on previous concerns expressed by civil libertarians over the secrecy of the treaty -- the Anti-Counterfeiting Trade Agreement (ACTA) -- and lambasted the substance of the agreement. Not surprisingly, Rupert Murdoch, the powerful media mogul, expressed support for a three-strikes-like regime. "There's a lot of movement to get that put in America and become a world standard," Murdoch told Sky News, "because in the music industry today, it's very, very hard for young talent to get started and established." Continue reading Consumer groups blast Obama's secret ACTA talks as Murdoch vows piracy crackdown Consumer groups blast Obama's secret ACTA talks as Murdoch vows piracy crackdown originally appeared on DailyFinance on Tue, 10 Nov 2009 10:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments EBay for the rich: New auction site helps millionaires quietly offload pricey wares November 10, 2009 at 10:00 am Filed under: Technology, Economy, People In another sign the economy has plumbed new depths, the rich (who, need it be said, aren't like you and me) have a new, high-tech way to unload their lavish wares -- the Internet. U.S. millionaires down on their luck and looking to offload those heirloom family jewels, or that underutilized limousine, can now turn to an online auction site exclusively for the jet set called BillionaireXchange. The company says it already has helped sell some $180 million in assets during a 10-month test phase, and has noticed an increase in the number of distressed transactions in the U.S., Reuters reported. "I would say that in the United States market, that's probably the majority of the types of the transactions that we're seeing right now," Quintin Thompson, co-founder and executive partner of BillionaireXchange, told the news agency. Continue reading EBay for the rich: New auction site helps millionaires quietly offload pricey wares EBay for the rich: New auction site helps millionaires quietly offload pricey wares originally appeared on DailyFinance on Tue, 10 Nov 2009 10:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Layoffs return with a vengeance as large companies cut again November 10, 2009 at 9:30 am Filed under: People, Electronic Arts, Johnson & Johnson, Sprint Nextel Corp. The "Year of the Layoff" was supposed to be over now that the economy is improving and most large companies have fired as many people as they reasonably can. Productivity gains can only squeeze so much out of a shrinking work force. But American companies are aggressively chopping their workforces again, and that raises the question of whether unemployment will continue to grow at the rate of almost 200,000 jobs per month well into 2010. Several corporations made deep cuts on Monday. Electronics Arts (ERTS) will let go a remarkably large 17% of its employees, about 1,500 people The company announced that it lost money in the last quarter. EA also spent $275 million to buy online game company Playfish. Sprint (S) laid off 2,500 people Monday as well. The cellular company has been losing subscribers and money. Pfizer (PFE) also said Monday that it would close six R&D facilities and eliminate up to 2,000 jobs. Continue reading Layoffs return with a vengeance as large companies cut again Layoffs return with a vengeance as large companies cut again originally appeared on DailyFinance on Tue, 10 Nov 2009 09:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Stocks in the news: MBIA, Tyco, Beazer November 10, 2009 at 9:05 am Filed under: Company News, Investing, Intel, Oracle, Sprint Nextel Corp., Tyco International, Sun Microsystems, Comcast, Time Warner Cable MBIA (MBI) shares dropped over 13% ahead of the bell after the bond insurer reported Monday heavier losses in its insurance business than expected. The company recorded a massive loss of $727.8 million, or $3.50 a share, which is still slightly better than last year's. Tyco International (TYC) posted a 53% drop in quarterly net profit to $205 million, or 43 cents per share, as soft economic conditions lowered demand for its construction and control products. Because of lower costs, however, results beat estimates. Revenue fell 16% to $4.4 billion, also above estimates of $4.3 billion. Continue reading Stocks in the news: MBIA, Tyco, Beazer Stocks in the news: MBIA, Tyco, Beazer originally appeared on DailyFinance on Tue, 10 Nov 2009 09:05:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Hedge fund probes steal attention from banks' record bonuses, stingy lending November 10, 2009 at 8:30 am Filed under: Company News, Goldman Sachs , Morgan Stanley Bailed out with taxpayer funds just a year ago, major U.S. investment banks may again be gearing up to hand out record bonuses. But as the public outrage builds, authorities seem to be betting that a theatrical crackdown on the hedge fund industry will calm the widespread anger about Wall Street's excesses. Continue reading Hedge fund probes steal attention from banks' record bonuses, stingy lending Hedge fund probes steal attention from banks' record bonuses, stingy lending originally appeared on DailyFinance on Tue, 10 Nov 2009 08:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Daily Blogwatch: The worst idea for a bad economy! November 10, 2009 at 8:00 am Filed under: Company News, Technology, Columns, Economy, People, Investing, Earnings, Media, One Year Later Darwin's Finance explains why the normal correlation between gold and the dollar has broken down. __________________ And speaking of which, The Intelligent Speculator figures out a new way to protect against inflation. __________________ Which biotech stock yields over 12% and sells for less than $10? __________________ Continue reading Daily Blogwatch: The worst idea for a bad economy! Daily Blogwatch: The worst idea for a bad economy! originally appeared on DailyFinance on Tue, 10 Nov 2009 08:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Stocks ready to retreat after six straight days of gains November 10, 2009 at 7:45 am Filed under: Economy, Investing Stocks are poised for a lower open, as momentum faded Tuesday morning following six straight day of gains that took stocks to 13- month highs. Without much news this morning, investors will look at the upcoming home price data and consider several earnings reports. More here: Before the bell: Stocks ready for a lower open after reaching 13-month highs Stocks ready to retreat after six straight days of gains originally appeared on DailyFinance on Tue, 10 Nov 2009 07:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Chinese vaccine makers surge as swine flu cases soar November 10, 2009 at 7:00 am Filed under: Economy, Investing Asian stocks rose Tuesday. In Hong Kong, the Hang Seng Index added 0.3%, ending the day at 22,268. In China, the Shanghai Composite Index rose 0.1% to 3,179 and in Japan, the Nikkei Index closed up 0.6% at 9,871. Shares in Chinese drug companies soared as the number of reported swine flu cases swelled to nearly 60,000, and the death toll rose to 30. So far 8.7 million Chinese have been vaccinated, according to Agence France Presse, and China's Ministry of Health has ordered that vaccine makers step up production in order to vaccinate even more of the country's enormous population. Henan Taloph Pharmaceutical jumped to its 10% daily limit, Shenzhen Neptunus Bioengineering climbed 6.17% and Hualan Biological Engineering rose 2.0%. Continue reading Chinese vaccine makers surge as swine flu cases soar Chinese vaccine makers surge as swine flu cases soar originally appeared on DailyFinance on Tue, 10 Nov 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments Gold at $2,750 an ounce? Here's how it could happen November 10, 2009 at 6:30 am Filed under: Economy, Investing India, the world's largest consumer of gold, is in the midst of its traditional wedding season, and that always creates extra demand for the pretty much useless yellow metal. Judging by the recent actions of that nation's central bankers, they must have been invited to every instance of nuptials in the entire country. The Reserve Bank of India purchased almost $7 billion worth of gold from the International Monetary Fund last week, helping to propel prices to $1,100 an ounce. (That's a nominal all-time high, by the way, not a real one. Adjusted for inflation, gold would need to more than double to set a true record.) Continue reading Gold at $2,750 an ounce? Here's how it could happen Gold at $2,750 an ounce? Here's how it could happen originally appeared on DailyFinance on Tue, 10 Nov 2009 06:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments E.C. challenge to Oracle/Sun deal a bad omen for M&A November 10, 2009 at 5:00 am Filed under: Company News, General Electric , Google , Kraft Foods, Microsoft, Oracle, Sun Microsystems As expected, the E.U. raised objections to the Oracle (ORCL) buyout of Sun (JAVA) at about the same time that the Department of Justice approved the deal. The E.U.'s objection is based on the large market share that the two tech companies would have in the MySQL software business. European authorities have been deviling American companies for years. In 2001 they killed the GE (GE) deal to purchase Honeywell (HON), which would have been the crowning achievement of Jack Welch's tenure at the world's largest conglomerate. The E.C. has troubled Microsoft (MSFT) and Intel (INTC) over antitrust concerns, and now it has brought up similar issues with Oracle's plans. Continue reading E.C. challenge to Oracle/Sun deal a bad omen for M&A E.C. challenge to Oracle/Sun deal a bad omen for M&A originally appeared on DailyFinance on Tue, 10 Nov 2009 05:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.