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| Copenhagen climate summit: Nations fiddle while business learns
December 10, 2009 at 4:45 pm
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| Filed under: Energy, Coca-Cola Enterprises, Coca-Cola Company, Wal-Mart Stores, Green  The eyes of the world are turned to Copenhagen and the pivotal environmental summit taking place in that quaint, lovely Scandinavian city. The task faced there by the leaders of the world is simple to articulate: Save the planet from the carbon menace and all the ills associated with the curse of greenhouse gasses.
Rising temperatures, rising sea levels, melting ice, stormy weather, drought and famine -- the potential side effects of a Mother Earth enshrouded by mankind's effluvia are dire, numerous and rapidly approaching. Yet before the summit even began, the heads of the planet's most powerful nations, including China, the U.S., Russia and Brazil, made it clear that this summit to save the world would do no such thing, and that no formal agreement on discrete carbon emission reduction targets would emerge from the ballyhooed gathering.
Continue reading Copenhagen climate summit: Nations fiddle while business learns Copenhagen climate summit: Nations fiddle while business learns originally appeared on DailyFinance on Thu, 10 Dec 2009 16:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| AOL declines in first day of trading, Time Warner gains
December 10, 2009 at 4:20 pm
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| Filed under: Company News, Investing, Media, Time Warner  It was Independence Day for AOL (AOL) on Thursday as the company was formally spun off from Time Warner (TWX), but the stock's debut on the New York Stock Exchange was something less than fireworks.
Shares in AOL -- DailyFinance's parent company -- spent almost the entire session in the red, but finished down just 0.6%, or 15 cents a share, at $23.52. Time Warner, meanwhile, gained 4.3%, or $1.24 a share, to close at $30.45, helped by positive analysts reports from BMO Capital Markets and Collins Stewart, among other brokerages.Continue reading AOL declines in first day of trading, Time Warner gains AOL declines in first day of trading, Time Warner gains originally appeared on DailyFinance on Thu, 10 Dec 2009 16:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Even with more shoppers, falling prices keep Costco's earnings flat
December 10, 2009 at 4:15 pm
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| Filed under: Company News, Earnings, Coca-Cola Company, Costco Wholesale Corp.  More shoppers are strolling at the aisles at Costco Wholesale Corp. (COST) stores, but they're still spending less on average. And that left the warehouse club chain with flat results during its most recent quarter.
Costco reported that net income for the quarter ended Nov. 22 was $266 million, or 60 cents per share, which met Wall Street's expectations to the penny. That was barely higher than the $263 million it posted during the same period last year.Continue reading Even with more shoppers, falling prices keep Costco's earnings flat Even with more shoppers, falling prices keep Costco's earnings flat originally appeared on DailyFinance on Thu, 10 Dec 2009 16:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Goldman Sachs backs down on pay, yanks 2009 cash bonuses for top execs
December 10, 2009 at 3:55 pm
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| Filed under: Company News, Goldman Sachs  Hell hath no fury like the American public scorned.
In a stunning climbdown, Goldman Sachs (GS)has succumbed to popular outrage, announcing Thursday that its top 30 executives won't receive wads of bonus cash in their stocking this Christmas, but rather stock that cannot be sold for five years. Goldman, long the bastion of Wall Street's super-elite, also said it would grant shareholders a say in executive compensation -- a previously unthinkable concession.
Goldman's move represents a breathtaking capitulation for a firm that had planned to dole out over $20 billion in bonuses to its employees -- many of whom are already millionaires. Still, it remains to be seen whether Blankfein's no-cash decree will blunt public outrage at the firm. After all, it's not like the executives have taken ascetic vows and gone off to live in the wilderness like the Desert Fathers.Continue reading Goldman Sachs backs down on pay, yanks 2009 cash bonuses for top execs Goldman Sachs backs down on pay, yanks 2009 cash bonuses for top execs originally appeared on DailyFinance on Thu, 10 Dec 2009 15:55:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Attention Coke lovers: It's safe to shop at Costco again
December 10, 2009 at 3:45 pm
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| Filed under: Company News, Economy, Coca-Cola Company, Costco Wholesale Corp.  Less than a month after Costco (COST) said it was going to clear Coca-Cola's (KO) products from its shelves, the warehouse retailer has changed its mind. According to Costco Chief Financial Officer Richard Galanti, the two companies have resolved their issues and Coke will be back in the cavernous stores on Monday.
Costco's original problem was that Coke refused to meet its pricing requirements. At the time, the company's website presented this as a matter of competition, stating that "Costco is committed to carrying name brand merchandise at the best possible prices. At this time, Coca-Cola has not provided Costco with competitive pricing so that we may pass along the value our members deserve."Continue reading Attention Coke lovers: It's safe to shop at Costco again Attention Coke lovers: It's safe to shop at Costco again originally appeared on DailyFinance on Thu, 10 Dec 2009 15:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| The dollar, despite widespread pessimism, could stage a sharp rally
December 10, 2009 at 2:38 pm
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| Filed under: Economy  A few years ago, ever rising home prices seemed like a sure bet. Today, Wall Street's sure bet is a weak and falling dollar. But investors would be wise to consider what would happen if the conventional wisdom were to fall short yet again and the greenback staged a turnaround.
While some giant fund managers say that the dollar has no place to go but down thanks to record deficits, a handful of investors with a knack for going against the grain have started to look for a rally instead. As the status quo increasingly counts on a glide down, any surprise -- positive or negative -- could lead to a sharp reversal that would have major implications for investors.Continue reading The dollar, despite widespread pessimism, could stage a sharp rally The dollar, despite widespread pessimism, could stage a sharp rally originally appeared on DailyFinance on Thu, 10 Dec 2009 14:38:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Pint-size windmills could become a big source of power
December 10, 2009 at 2:15 pm
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| Filed under: Energy, Company News, Green  A surge in demand for small wind-power systems is likely to build mightily over the next three years, according to a report released Wednesday by alternative energy research company Pike Research. Larger government subsidies, rising electricity costs, fewer regulatory burdens and lower prices for these small systems are all converging to generate demand.
According to Pike Research principal Clint Wheelock, small wind systems will generate roughly 38 megawatts of power in the U.S. this year, or less than one-quarter of what a standard coal-fired powerplant delivers on a regular basis. That should grow by 25% each year and hit a total of 115 megawatts in 2013, says Wheelock.Continue reading Pint-size windmills could become a big source of power Pint-size windmills could become a big source of power originally appeared on DailyFinance on Thu, 10 Dec 2009 14:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| One first-class ticket into space: $200,000 on Branson's Virgin Galactic
December 10, 2009 at 2:00 pm
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| Filed under: Technology, People  Got $200,000 lying around? If so, you could be among the first commercial space travelers.
The U.S. space program may have stalled, but that hasn't stopped billionaire mogul Richard Branson from advancing his vision of commercial space flight. This week, at a glitzy event in the windswept Mojave desert, Branson unveiled the Virgin Galactic SpaceShipTwo -- billed as the world's first commercial spacecraft -- a sleek, plane-like vehicle that will carry six passengers and two pilots on a journey 65 miles above Earth.Continue reading One first-class ticket into space: $200,000 on Branson's Virgin Galactic One first-class ticket into space: $200,000 on Branson's Virgin Galactic originally appeared on DailyFinance on Thu, 10 Dec 2009 14:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| George Stephanopoulos to co-host Good Morning America: A bad move?
December 10, 2009 at 1:30 pm
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| Filed under: People, Media  At some point on Thursday, ABC News will announce that George Stephanopoulos will replace Diane Sawyer as the co-host of Good Morning America when Sawyer becomes the anchor of World News Tonight. If you have trouble picturing the former Clinton aide and current host of This Week as a chatty, bubbly morning-show personality, you're not alone. According to Politico, even Stephanopoulos's friends "seem baffled by his decision to take a job that doesn't seem like a natural fit."
In fact, his decision is baffling on several levels. In This Week, Stephanopoulos has one of the plum jobs in TV journalism -- one many thought should have gone to a more experienced journalist and/or someone without a background in partisan politics. But Stephanopoulos has proved a more than able interviewer, and under him This Week has scored some notable ratings victories over Sunday-morning Goliath Meet the Press.
Continue reading George Stephanopoulos to co-host Good Morning America: A bad move? George Stephanopoulos to co-host Good Morning America: A bad move? originally appeared on DailyFinance on Thu, 10 Dec 2009 13:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Mommies vs. the FTC: Fear and cringing in the pay-to-praise blogosphere
December 10, 2009 at 1:00 pm
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| Filed under: Technology, People, Media  Even for someone who gets blessed with free washers and dryers, semiannual boondoggle trips to Los Angeles, New York and Florida, and all the organic yogurt drinks she can consume, $11,000 is a lot of money. For mommy bloggers, Tweeters and Facebookers who post opinions about consumer products, $11,000 is the size of the fine they allegedly might incur for failing to follow the government's disclosure rules on advertising and endorsing.
According to recently revised Federal Trade Commission guidelines, bloggers and other word-of-mouth advertisers are now subject to FTC rules for advertisers and "endorsers" -- anyone who recommends a commercial product or service. Repeated violations of those rules could result in court-ordered monetary penalties. These new additions to the FTC Guides Concerning the Use of Endorsements and Testimonials in Advertising went into effect Dec. 1, and for many participants in the sometimes-lucrative world of social-media-for-pay, the fear is in the air.Continue reading Mommies vs. the FTC: Fear and cringing in the pay-to-praise blogosphere Mommies vs. the FTC: Fear and cringing in the pay-to-praise blogosphere originally appeared on DailyFinance on Thu, 10 Dec 2009 13:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Did Gillette's Fusion ad doom Tiger Woods?
December 10, 2009 at 12:20 pm
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| Filed under: People, Media  Sure, a skeptic might say Tiger Woods has created his own downfall through rather prosaic sins of the flesh. But the more mystically inclined agree: It was that Gillette Fusion ad that did him in.
New York Times' writer Robert Mackey thinks the Gillette Fusion "Champions" ad campaign not only cursed Woods, but his two world-class athlete co-stars as well. In the ad, which aired in February 2007, Roger Federer, Thierry Henry and Tiger Woods each walk through a dissipating video image of their greatest accomplishments: for Federer, his win at the 2006 Wimbledon tennis championship; for Henry, his 2003 "Footballer of the Year" soccer award; for Woods, his 2006 Player of the Year honors. Each says something pithy about how the accomplishments of yesterday are nothing, "the only day that matters, is today," says Woods confidently.Continue reading Did Gillette's Fusion ad doom Tiger Woods? Did Gillette's Fusion ad doom Tiger Woods? originally appeared on DailyFinance on Thu, 10 Dec 2009 12:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Nielsen shuts down 'Editor & Publisher' and 'Kirkus Reviews'
December 10, 2009 at 12:00 pm
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| Filed under: Company News, Media  Nielsen Business Media announced on Thursday it will shut down two venerable trade magazines: Editor & Publisher, which has covered the newspaper industry since the turn of the 20th century, and Kirkus Reviews, the 76-year-old trade publication for the book industry.
The move completes a long-rumored sale of eight Nielsen media brands, including Hollywood Reporter, Adweek, and Billboard, to e5 Global Media Holdings, a new joint venture between Pluribus Capital Management and Guggenheim Partners.
The two magazines' closures caps a particularly grim year for newspapers and magazines. The loss of Kirkus, best known for its pre-publication book reviews (and, notoriously, for its write-ups' negative tone) is another sign of the continued erosion of book coverage in traditional media.
Nielsen Business Media President Greg Farrar's memo about the sale and magazine shutdowns follows.Continue reading Nielsen shuts down 'Editor & Publisher' and 'Kirkus Reviews' Nielsen shuts down 'Editor & Publisher' and 'Kirkus Reviews' originally appeared on DailyFinance on Thu, 10 Dec 2009 12:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| ETNs: What every investor should know about these hot new debt securities
December 10, 2009 at 11:00 am
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| Filed under: Investing  There was a time not long ago when nobody knew what an ETF was. But as of Nov. 30, assets in the U.S. exchange-traded fund industry totaled approximately $739 billion, after climbing $50.3 billion or 7.3% during the month. This marks an all-time, month-end high, according to State Street Global Advisors.
Now, just when you've gotten accustomed to ETFs, you've probably begun hearing a bit of buzz around their cousins, the ETNs: exchange-traded notes. The first ETN was introduced in 2006, and since then, more than 60 have been issued, with more in the works. These financial securities are growing in popularity, according to Colby Wright, Ph.D., assistant professor of finance at Central Michigan University, and co-author of the paper, Exchange Traded Notes: An Introduction. But Wright says ETNs are often confused with ETFs, and seem to be largely misunderstood by the general investing public -- and even by institutional investors and academicians. Continue reading ETNs: What every investor should know about these hot new debt securities ETNs: What every investor should know about these hot new debt securities originally appeared on DailyFinance on Thu, 10 Dec 2009 11:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Will Vevo, the music video joint venture, end the industry's dirge?
December 10, 2009 at 10:00 am
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| Filed under: Company News, Technology, Media, Google , Sony  A splashy music-industry event in New York City on Tuesday night began, inevitably, with a speech by Bono. American Idol runner-up Adam Lambert and pop artiste Lady GaGa closed the gala out. In between, passionate testimonials from Google (GOOG) CEO Eric Schmidt and Universal Music Group CEO Doug Morris (pictured, with Bono), extolling the launch of Vevo: the "premium music video and entertainment service" -- so the industry hopes.Continue reading Will Vevo, the music video joint venture, end the industry's dirge? Will Vevo, the music video joint venture, end the industry's dirge? originally appeared on DailyFinance on Thu, 10 Dec 2009 10:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Initial jobless claims rise, but continuing claims plunge
December 10, 2009 at 9:45 am
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| Filed under: Economy  Just call it a mixed-progress week on the employment front. Initial jobless claims rose 17,000 to 474,000 for the week ending Dec. 5, but continuing claims plunged another 303,000 to 5.16 million, the U.S. Labor Department announced Thursday.
A Bloomberg News economists survey had expected initial jobless claims to total 460,000. The four-week moving average for initial jobless claims fell 7,750 to 473,750. A year ago, initial jobless claims totaled 552,000 and continuing claims totaled 4.35 million.Continue reading Initial jobless claims rise, but continuing claims plunge Initial jobless claims rise, but continuing claims plunge originally appeared on DailyFinance on Thu, 10 Dec 2009 09:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Inside Wall Street: Tiffany looks like a gem of a stock
December 10, 2009 at 8:45 am
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| Filed under: Company News, Investing, Earnings, Tiffany & Co.  Looking for a holiday bargain? Think Tiffany (TIF). Shares of Tiffany, to be precise. Yes, this global leader in high-end jewelry is one bargain you shouldn't miss.
With the weakened economy, you would think the stock of the No. 1 designer, maker and retailer of diamonds and other pricey gifts such as rings and watches, would be doing poorly. Indeed, it did do miserably -- last year and in the first half of this year. But the outlook for Tiffany's business in 2009's fourth quarter and for all of 2010 has brightened, promising to be one of the bang-up surprises in retail, assert some pros.
Continue reading Inside Wall Street: Tiffany looks like a gem of a stock Inside Wall Street: Tiffany looks like a gem of a stock originally appeared on DailyFinance on Thu, 10 Dec 2009 08:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks in the news: Costco, AOL, Citigroup, Ciena
December 10, 2009 at 8:40 am
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| Filed under: Company News, Investing Of stocks in focus, Costco (COST) posted a slight increase in fiscal-first quarter earnings to $266 million, or 60 cents per share. After beings helped by steady sales of food and everyday items to recession-weary consumers, Costco says it has recently seen purchases of some nonfood items rise slightly. Sales rose 6% to $17.3 billion and same-store sales rose 3%. Last quarter, sales fell 5%. Earnings met analyst estimates. Costco shares were 1% higher in pre-market trading.
AOL Inc. (AOL) -- the parent of DailyFinance -- will begin trading Thursday. It was spun off from Time Warner (TWX) Wednesday.Continue reading Stocks in the news: Costco, AOL, Citigroup, Ciena Stocks in the news: Costco, AOL, Citigroup, Ciena originally appeared on DailyFinance on Thu, 10 Dec 2009 08:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Ten stocks for 2010
December 10, 2009 at 8:30 am
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| Filed under: Investing, GlaxoSmithKline  By many measures, this past decade was a downer. We experienced the dot-com bust, terrorism attacks, the Enron scandal, Bernie Madoff's Ponzi scheme, at least two wars and the Jonas Brothers. Oh, and lest I forget, one of worst financial crises in history.
For anyone reading this, congratulations. You've survived, though it hasn't been pleasant. But we have many things to look forward to. Among them are my 10 favorite stock picks for 2010. Several trends are in the works over the next year that I believe make the companies I've selected good bets.Continue reading Ten stocks for 2010 Ten stocks for 2010 originally appeared on DailyFinance on Thu, 10 Dec 2009 08:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Daily Blogwatch: College is worthless, more investment themes, and more Tiger Woods
December 10, 2009 at 7:45 am
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| Filed under: Energy, Company News, Columns, Economy, Earnings, ETFs After the recent sell-off, Barrons thinks gold's next stop is $1,350 an ounce. _______________ EconomicPic has the best indicator for showing the economy is picking up. _______________ Bank of America/Merrill Lynch has the 10 investment themes for 2010. Worth reading. _______________ Continue reading Daily Blogwatch: College is worthless, more investment themes, and more Tiger Woods Daily Blogwatch: College is worthless, more investment themes, and more Tiger Woods originally appeared on DailyFinance on Thu, 10 Dec 2009 07:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Foreclosure activity slides for fourth month, but trouble lies ahead
December 10, 2009 at 7:20 am
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| Filed under: Economy, Real Estate  The terrible trouble in the housing market may be ending. RealtyTrac reports that foreclosure filings fell 8% in November compared to the previous month, down to 306,627. One in every 417 homes in the U.S. received a foreclosure filing during the month. The figure was up 18% from November 2008.
"November was the fourth straight month that U.S. foreclosure activity has declined after hitting an all-time high for our report in July, and November foreclosure activity was at the lowest level we've seen since February," said James J. Saccacio, chief executive officer of RealtyTrac. "Loan modifications and other foreclosure prevention efforts, along with the recently extended and expanded home-buyer tax credit, are keeping a lid on the most visible symptoms of the nation's ailing housing market -- foreclosures and home value depreciation." Continue reading Foreclosure activity slides for fourth month, but trouble lies ahead Foreclosure activity slides for fourth month, but trouble lies ahead originally appeared on DailyFinance on Thu, 10 Dec 2009 07:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Asian carmakers go for a ride, Buffett's BYD slips, Chinese property stocks get the jitters
December 10, 2009 at 7:00 am
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| Filed under: Economy, Investing  In Asia Thursday, China's Shanghai Composite Index rose 0.5% to close at 3,254. In Japan, the Nikkei 225 Index fell 1.4% to 9,863 and in Hong Kong the Hang Seng Index slipped 0.2% to end the day at 21,700.
In China, news that the country's booming car industry sold more than 12 million vehicles so far this year was met by changes to taxes paid on new cars. The new policy will extend the tax breaks into next year, reports China Daily, but raise the rate from this year's 5% to 7.5%. Before the economic crisis prompted the government to enact sweeping stimulus measures, China had been charging a 10% tax on cars. Car subsidies will not apply to cars with an engine size of over 2 liters, but most of the cars sold in China are economical, compact cars.Continue reading Asian carmakers go for a ride, Buffett's BYD slips, Chinese property stocks get the jitters Asian carmakers go for a ride, Buffett's BYD slips, Chinese property stocks get the jitters originally appeared on DailyFinance on Thu, 10 Dec 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |  |
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Congress Joe Baca (D-California) 
More good news for the U.S. economy, as the nation's budget deficit narrowed to $120.3 billion in November, the U.S. Treasury Department 
Stock indexes rose Thursday as a jump in exports offset concerns about an increase in weekly unemployment claims. A weaker dollar is lifting demand for U.S. goods, which become less expensive for foreign buyers when the greenback falls. The Commerce Department said a rise in exports helped narrow the nation's trade gap to $32.9 billion in October. Economists had been expecting an increase. Exports rose 2.5%, the sixth straight monthly increase.
It appears credit card issuers are determined to maintain the high levels of profit they earn from charging fees. A 
It would appear that France and Britain are on the same page when it comes to bankers' bonuses. Their leaders certainly are -- literally.
The nation's trade deficit unexpectedly plunged another 7.6% to $32.9 billion in October, as exports -- aided by the weaker dollar -- rose for the sixth straight month, the U.S. Commerce Department 
Politicians, lawyers and insurance salesmen now have some company in America's doghouse: A new survey finds that Wall Street bankers are among the country's least favorite people. This suggests that while financial firms may have begun to mend their bottom lines, they're a long way from rehabilitating their public image.
Remember that $700 billion Troubled Asset Recovery Program? It turns out that plenty of assets are still troubled, and there's been very little recovery of them. But many of the big banks that took TARP money from the government have been able to pay it back.
With many retirement accounts in tatters, plenty of Americans are content with the fund managers who managed to keep them from losing too much money during the worst market conditions since the Great Depression. But it turns out, a select few investing pros have done much better, actually producing exceptional returns -- in some cases more than 200% in cumulative returns -- over a most challenging decade. 
U.S. stocks are set for a higher open Thursday. The focus this morning is on key data about the labor market. Weekly initial and continuing jobless claims data are due out before the bell, with both expected to show a continued trend of declines in job losses.
Branding counts. Apple (