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| No foosball, no hiring spree. Today's startups are smaller, leaner, faster
December 2, 2009 at 7:45 pm
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| Filed under: Technology  What's the status of Startup Nation? Fledgling tech companies are smaller, more numerous and a bit crazier if you ask top executives and investors gathered at the Supernova 2009 technology conference in San Francisco this week. Prominent angel investor and venture capitalist Dave McClure puts it this way during a panel discussion. "There is a lot of experimentation happening at incubator and seed level but less on the Series A level," says McClure, referring to the first significant venture funding round.
At the same time, startups are running leaner, meaner and more aggressively. Says Rashmi Sinhal, founder and CEO of online slide-presentation company Slideshare, "You can take very little money to try out an idea."Continue reading No foosball, no hiring spree. Today's startups are smaller, leaner, faster No foosball, no hiring spree. Today's startups are smaller, leaner, faster originally appeared on DailyFinance on Wed, 02 Dec 2009 19:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| E-readers: Can the Kindle avoid repeating the video-game crash of '83?
December 2, 2009 at 7:30 pm
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| Filed under: Technology, Media, Sony, Apple, Amazon.com Inc., Nintendo  This holiday season's must-have gift is, of course, the electronic reader, and the public's craving evokes the Tickle Me Elmo and Furby bubbles of Christmases past. Amazon's (AMZN) optimism remains on high after reporting that Kindle sales in November were the "best" ever, making the online retailer's e-reader its no. 1 product.
Barnes & Noble's (BKS) e-reader, nook, hasn't been sighted in the wild, but recent eBay (EBAY) auctions illustrate how demand is far exceeding supply. (Worse for B&N, the nook's shipping date keeps sliding into the future.) Sony (SNE), too, expects big sales for its e-readers. All of which bolsters Forrester Research's prediction of big e-reader sales for the holidays -- and up to 10 million in 2010.Continue reading E-readers: Can the Kindle avoid repeating the video-game crash of '83? E-readers: Can the Kindle avoid repeating the video-game crash of '83? originally appeared on DailyFinance on Wed, 02 Dec 2009 19:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Type 2 diabetes: Roche says its weekly drug works better than Merck's daily one
December 2, 2009 at 7:15 pm
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| Filed under: Company News, Healthcare, Merck  The $5 billion U.S. diabetes drug market just got a little more competitive. Swiss drugmaker Roche (RHHBY) said Wednesday an experimental medicine in late-stage development works better in treating type 2 diabetes than Merck (MRK) Januvia, according to a clinical study.
Roche licensed taspoglutide, which can be taken just once a week, from French drugmaker Ipsen in 2006. Now, it says, the weekly treatment showed superior reduction of HbA1c -- a measure of blood-glucose levels -- against a dummy pill or placebo in one of the studies. The company also said another study showed its drug reduced blood-glucose levels better than sitagliptin, the generic name for Merck's diabetes drug Januvia, which must be taken daily.Continue reading Type 2 diabetes: Roche says its weekly drug works better than Merck's daily one Type 2 diabetes: Roche says its weekly drug works better than Merck's daily one originally appeared on DailyFinance on Wed, 02 Dec 2009 19:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Reynolds: Smoke 'em if you got 'em. Then call us once you're ready to quit
December 2, 2009 at 5:40 pm
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| Filed under: Technology, Healthcare  In a move headed for the Irony Hall of Fame, No. 2 tobacco marketer Reynolds American (RAI), parent of R.J. Reynolds, announced today that it's buying Niconovum, a Swedish marketer of smoking-cessation products, for $44 million.
It's a sea change from recent decades, when tobacco companies inclduding Reynolds, based in Winston-Salem, North Carolina, denied that nicotine was even addictive. "Niconovum's products have great potential in meeting consumer demand and public health objectives," Reynolds American's chairman-president-CEO Susan M. Ivey said in a statement. "This acquisition extends the harm-reduction strategies RAI and its operating companies have been developing over the past several years."Continue reading Reynolds: Smoke 'em if you got 'em. Then call us once you're ready to quit Reynolds: Smoke 'em if you got 'em. Then call us once you're ready to quit originally appeared on DailyFinance on Wed, 02 Dec 2009 17:40:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Another day, another record: Gold closes at more than $1,200 an ounce
December 2, 2009 at 3:50 pm
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| Filed under: Economy, Investing  All that glitters is not gold -- platinum and palladium are on even hotter streaks -- but who cares? The yellow metal hit another nominal record high Wednesday, briefly topping $1,217 an ounce before settling at $1,213, and it shows no sign of melting down anytime soon.
The Incredible Shrinking Dollar is mostly to blame. The Federal Reserve wants a cheap dollar to help boost exports and create jobs, but so far it's just made the buck the biggest geek at the currency prom. Central banks and institutional investors at home and abroad feel pretty stupid holding rapidly depreciating greenbacks, so they're dumping dollars and hording gold.Continue reading Another day, another record: Gold closes at more than $1,200 an ounce Another day, another record: Gold closes at more than $1,200 an ounce originally appeared on DailyFinance on Wed, 02 Dec 2009 15:50:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| When sex doesn't sell: Slew of bad ads backfire in the blogosphere
December 2, 2009 at 2:30 pm
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| Filed under: Company News, Media, Pepsico  File this under "stupid sex ads." While it's true that sex sells -- and has for more than a century -- a rash of recent ads from top marketers has proven there are exceptions to that rule.
Take this TV commercial from Hall's Refresh, a sugar-free candy "with advanced moisture lotion." The ad carries a theme that's popping up on a number of TV shows, from ABC's Cougar Town to Fox's Glee : older woman hitting on a younger man (remember the teenage Puck's pool-cleaning service in Glee?). In the Hall's ad, a harried looking mom, helping her son move into his new dorm, is kindly offered a Hall's Refresh by his roommate. What happens next verges into "what were they thinking?" territory. The teen- and the middle-aged mom gaze at each other, mouths wetly moving from side to side as they masticate. "I wonder if she likes it," the roommate thinks in a suggestive voice-over. Sure, it's debatable whether Cougar Town's depiction of that dynamic is pathetic or empowering, but the Hall's ad plays squarely to creepy.Continue reading When sex doesn't sell: Slew of bad ads backfire in the blogosphere When sex doesn't sell: Slew of bad ads backfire in the blogosphere originally appeared on DailyFinance on Wed, 02 Dec 2009 14:30:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Project FROG seeks to make pre-fab school buildings fab -- and green
December 2, 2009 at 2:15 pm
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| Filed under: Energy, Green There is nothing more depressing than those beat-up, decrepit portable buildings that schools across the country use for classrooms or offices. Most of these trailers on blocks don't meet modern construction standards. That's because many are decades old, in use well beyond their accepted lifespan. Aside from being mold traps and sources of unhealthy air, portables are also, by and large, incredibly inefficient. They tend to be cooled by wall-mounted air-conditioning units in the summers, which suck up power to counter-balance the uninsulated roofs and poorly ventilated metal-box construction.
Which is why I went to visit Project FROG (Flexible Response to Ongoing Growth) in San Francisco. The company hopes to become the Apple (AAPL) of the pre-fabricated building industry, a purveyor of elegant design that translates into a better user experience. And Project FROG is one of the hottest venture-backed entities in the nascent green building sector.Continue reading Project FROG seeks to make pre-fab school buildings fab -- and green Project FROG seeks to make pre-fab school buildings fab -- and green originally appeared on DailyFinance on Wed, 02 Dec 2009 14:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Meet the Ped Egg: A tasty (don't call it cheesy) recession success story
December 2, 2009 at 1:30 pm
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| Filed under: Economy, Sears Holdings Corp., Wal-Mart Stores  When they write the story of the Great Recession, future historians will probably overlook the Ped Egg. That's a pity, because the device, which shaves dead skin off your feet like a cheese grater, is huge, downturn-defying success.
In fact, the Ped Egg is the most successful product in the history of its maker, TeleBrands. The firm, which calls itself the leading television marketing company, has sold some $300 million worth of them, both through its infomercials and through its retail partners, company CEO AJ. Khubani tells DailyFinance. TeleBrands offers its "As Seen on TV" products through a number of retailers, including Wal-Mart Stores Inc. (WMT), Staples Inc. (SPLS) and Sears Holdings Inc. (SHLD).Continue reading Meet the Ped Egg: A tasty (don't call it cheesy) recession success story Meet the Ped Egg: A tasty (don't call it cheesy) recession success story originally appeared on DailyFinance on Wed, 02 Dec 2009 13:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Sam Zell out as troubled Tribune's CEO
December 2, 2009 at 1:15 pm
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| Filed under: Media  Sorry, Tribune Co. employees. After everything you've been through in the past two years, you won't get to witness the one thing that might, in some small way, make up for it: The spectacle of Sam Zell getting fired as CEO.
Zell deprived his underlings of that pleasure Wednesday by handing over the reins to Randy Michaels, the media conglomerate's chief operating officer since 2008. The good news, for the comeuppance minded, is that Zell can still get booted as Tribune's chairman, since he's hanging onto that post. The bad news: As chairman, he'll "continue to provide the management team with strategic oversight and vision" -- the same oversight and vision that guided Tribune into the ditch it currently occupies.
Continue reading Sam Zell out as troubled Tribune's CEO Sam Zell out as troubled Tribune's CEO originally appeared on DailyFinance on Wed, 02 Dec 2009 13:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Heroic or foolhardy? Starbucks manager defies workplace dangers
December 2, 2009 at 12:30 pm
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| Filed under: People, Starbucks  Here in the Pacific Northwest, we are saddened, stunned by the terrible news surrounding a shooting of four police officers this weekend at a coffee shop in Parkland, Wash. All four died, leaving a total of nine children and three spouses behind. With the horrifying events outside of Tacoma as a backdrop, the heroic, if possibly misguided, efforts of a Starbucks (SBUX) manager later Sunday night in Kansas City, Mo. seem a welcome contrast.
While the manager of the Starbucks at 4140 Main St. was getting ready to close the store and counting the money in the back office, reports the Kansas City Star, a would-be robber with a gun walked into the store and told the manager to get in the freezer. Instead of complying, he took a box cutter out of his pocket and began a scuffle with the suspect that ended with the coffee shop manager disarming the man, cutting him, then shoving him out the door. Victory! Right?Continue reading Heroic or foolhardy? Starbucks manager defies workplace dangers Heroic or foolhardy? Starbucks manager defies workplace dangers originally appeared on DailyFinance on Wed, 02 Dec 2009 12:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Microsoft Update: Of course Windows 7 has a 'Black Screen of Death'
December 2, 2009 at 11:30 am
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| Filed under: Technology, Investing, Microsoft, Apple  You have to pity the poor folks in at Microsoft (MSFT). Just when they come out with a Windows 7 release that most of the tech world seems to like, an update wreaks havoc with what is likely to be a limited subset of users. Naturally, the media gives this problem a highly colorful term -- the Black Screen of Death. The bug supposedly affects machines running Microsoft Windows XP, Vista and 7 operating systems.
The BSOD problems were quickly splashed all over the blogosphere and Twitter, leading to more questions about whether Microsoft will ever be able to release software that is truly bug-free. For its part, Microsoft has denied that its update is causing any problems, according to Barron's. Windows 7 is clearly an improvement over Windows Vista, but as the warts come into view on this slimmed-down operating system that has won widespread kudos, it's only natural the problems occur. Why? It's just too complex. If anything, Microsoft should be congratulated for, by and large, making Windows 7 such a bug-free release.Continue reading Microsoft Update: Of course Windows 7 has a 'Black Screen of Death' Microsoft Update: Of course Windows 7 has a 'Black Screen of Death' originally appeared on DailyFinance on Wed, 02 Dec 2009 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Video games are Walmart's new front in the price wars
December 2, 2009 at 11:20 am
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| Filed under: Company News, Technology, Economy, Electronic Arts, Sears Holdings Corp., Wal-Mart Stores, Target Corp.  It looks like Walmart is fixing to do for video games what it's already done for toys and books this season.
Wal-Mart Stores (WMT) announced it has cut the prices of popular video games like Halo 3: ODST; Rock Band: Beatles; and Left 4 Dead 2 by up to 20% and will give away a $50 gift card with each $199 Nintendo Wii console sold Dec. 5-12. It's not exactly a $10 toy or $9 book, but as the retail behemoth's announcement said, it's "game on."Continue reading Video games are Walmart's new front in the price wars Video games are Walmart's new front in the price wars originally appeared on DailyFinance on Wed, 02 Dec 2009 11:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| CVS in court (again) for (even more) expired drugs, milk, eggs, and formula
December 2, 2009 at 10:40 am
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| Filed under: Company News, Economy, Healthcare  On Monday, Connecticut became the latest state to cite CVS (CVS) drugstores for selling expired products. Richard Blumenthal, the state's attorney general, filed a lawsuit against CVS, revealing that investigations his office conducted over the past year and a half determined that 44% of inspected stores sold expired over-the-counter drugs, infant formula, energy drinks, milk, eggs, and yogurt.
The suit puts Connecticut in a small fraternity of states battling the huge chain. New York settled with CVS last month for $875,000. California and Nevada also took CVS to task, but California doesn't outlaw selling expired drugs, and Nevada imposed a laughable wrist-slap of a fine, for $5,000.Continue reading CVS in court (again) for (even more) expired drugs, milk, eggs, and formula CVS in court (again) for (even more) expired drugs, milk, eggs, and formula originally appeared on DailyFinance on Wed, 02 Dec 2009 10:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Daily Blogwatch: Is it a crash -- or Dow 12,000? And, seven bizarre divorce settlements
December 2, 2009 at 9:30 am
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| Filed under: Company News, Columns, Economy, Earnings  How often has December been an up month? ______________ America's most-wanted white collar criminals. ______________ Are Americans really over-leveraged? Jonathan Wilmot thinks not. ______________ Continue reading Daily Blogwatch: Is it a crash -- or Dow 12,000? And, seven bizarre divorce settlements Daily Blogwatch: Is it a crash -- or Dow 12,000? And, seven bizarre divorce settlements originally appeared on DailyFinance on Wed, 02 Dec 2009 09:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks in the news: Wells Fargo, Nokia, Walgreens, Novavax, UAL Corp.
December 2, 2009 at 9:00 am
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| Filed under: Company News, Investing Wells Fargo (WFC) said on Tuesday that it would fold up 122 California branches due to its takeover of Wachovia last year, the Los Angeles Times reported. The closures, scheduled to occur in April, will involve shutting down 101 Wachovia offices and 21 Wells Fargo locations. All affected employees will be allowed to opt for jobs at other Wells Fargo branches.
Nokia (NOK) forecast Wednesday that global mobile phone unit sales would rise 10% in 2010, compared with a 7% drop in handset volumes in the third quarter, according to Nokia estimates. It is also predicting an improvement in the operating margin at its main division and said it would revamp its Symbian operating system. Shares declined about 1% in pre-market trading.Continue reading Stocks in the news: Wells Fargo, Nokia, Walgreens, Novavax, UAL Corp. Stocks in the news: Wells Fargo, Nokia, Walgreens, Novavax, UAL Corp. originally appeared on DailyFinance on Wed, 02 Dec 2009 09:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Ray of light: ADP reports 'only' 169,000 private sector job cuts in November
December 2, 2009 at 9:00 am
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| Filed under: Economy  More progress on the U.S. employment front, as the private sector cut just 169,000 jobs in November, following a downwardly revised 195,000 job loss in October, according to data compiled in the ADP National Employment Report. The initial October job loss estimate was 203,000. Economists surveyed by Bloomberg News, however, had expected private employers to cut 150,000 jobs in November.
Separately, private placement firm Challenger, Gray & Christmas said job cut announcements by U.S. employers fell to 50,349 in November, down 9.6% from 55,679 in October, CNMoney.com reported Wednesday.Continue reading Ray of light: ADP reports 'only' 169,000 private sector job cuts in November Ray of light: ADP reports 'only' 169,000 private sector job cuts in November originally appeared on DailyFinance on Wed, 02 Dec 2009 09:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Chinese investors plow money into luxury home companies; Asian banks and commodities post solid gains
December 2, 2009 at 7:00 am
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| Filed under: Economy, Investing  Major indexes in Asia rose Wednesday with China's Shanghai Composite Index gaining 1.1% to close at 3,270. In Hong Kong the Hang Seng Index added 8.0%, ending the day at 22,290 and in Japan, the Nikkei Index inched up 0.4% to 9,609.
In China, real estate developers led gains as home buyers continued to take advantage of China's government mandated incentives that are boosting sales and propping up prices.
China Merchant's Property Development soared 8%. The company creates European-style communities on the outskirts of major cities like Shanghai where stately developments called names like Hyde Garden are nestled among immaculately groomed gardens. The company is also branching out to up-and-coming cities like Tianjin where communities with names like Diamond Hill promise the most elegant of lifestyles, complete with heated swimming pools, yoga rooms and gleaming marble bathrooms. Gemdale, which also focuses on luxury properties, added 3.1%, Poly Real Estate gained 2.8% and China Vanke (CVKEF), one of the largest developers, added 2.2%.
Continue reading Chinese investors plow money into luxury home companies; Asian banks and commodities post solid gains Chinese investors plow money into luxury home companies; Asian banks and commodities post solid gains originally appeared on DailyFinance on Wed, 02 Dec 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |  |
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If it weren't for the swine flu, vaccine-maker Novavax (
The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in bank and energy stocks. Most stocks finished higher after the Fed said regional economic activity has generally improved since its last snapshot in October. The central bank also said consumer spending has strengthened even as employment and commercial real estate remain weak.
The economic recovery gained traction in late fall as shoppers spent a bit more and factories bumped up production. That assessment Wednesday by the Federal Reserve marked its most upbeat view since the economy tumbled into recession two years ago.
To get a sense of what Goldman Sachs (
Tired of TARP? It doesn't sound like it's going away just yet. Treasury Secretary Timothy gave Congress a strong signal Wednesday that the government's $700 billion bailout fund will survive beyond its initial expiration date at the end of this year. 
It's no secret that one of the biggest dangers facing banks today is that loans to builders of office towers, malls and other commercial properties are going sour at a quickening pace. Financial regulators, including Fed Chairman Ben Bernanke and Federal Deposit Insurance Corp. chief Sheila Bair, have warned of the risk. Now one research shop is 
The Federal Housing Administration has been focusing its efforts to shore up its finances on 
When it comes to the holiday selling season and stock market performance, there's a case to be made that retail sales forecasts are putting the shopping cart before the equity horse. 
U.S. stocks are set for a flat open Wednesday morning after the Dow closed at a 14-month high Tuesday. A jobs report of the private sector will be in focus as it comes two days before the highly anticipated non-farm payroll report on Friday. Also, investors will mull over the shakeup at General Motors and the continued record-breaking rally in gold prices.
It does not say much for the future of plans to rebuild Bank of America (