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| No requiem for the desktop: Apple's designs help revive the fading platform
December 14, 2009 at 8:20 pm
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| Filed under: Apple  In our mobile world over which laptops and smartphones increasingly rule, desktops are starting to go the way of eight-track tapes and rotary-dial phones. No one, apparently, bothered to tell Apple (AAPL) -- or its loyal customers. The company posted better-than-expected sales for its computers in October and November, thanks largely to the strength of its desktop models, says prominent analyst Gene Munster of investment bank Piper JaffrayTech.
Citing figures from sales tracker NPD Group, the noted Apple bull said sales of Mac computers for the the two months are running roughly 21% over the same period last year, well ahead of Wall Street's 14% consensus estimate for sales growth. The new iMac and Mac mini units seem to be leading the charge, with the sales of these and other Apple desktop products up 74% in unit volume year-over-year for the third quarter thus far, Munster says.Continue reading No requiem for the desktop: Apple's designs help revive the fading platform No requiem for the desktop: Apple's designs help revive the fading platform originally appeared on DailyFinance on Mon, 14 Dec 2009 20:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Chase backlash: 1,000 homeowners protest at bank's Manhattan HQ
December 14, 2009 at 6:30 pm
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| Filed under: Company News, Economy, JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co., Real Estate  An estimated 1,000 representatives of the Neighborhood Assistance Corporation of America (NACA) paid a visit on Monday morning to JPMorganChase (JPM) CEO Jamie Dimon. Carrying signs reading "Chase Get On the Bus," "Chase Say Yes," and "Don't CHASE Us Out of Our Homes," the protesters briefly occupied the lobby of 1 Chase Plaza, in New York's financial district, where the company has offices.Continue reading Chase backlash: 1,000 homeowners protest at bank's Manhattan HQ Chase backlash: 1,000 homeowners protest at bank's Manhattan HQ originally appeared on DailyFinance on Mon, 14 Dec 2009 18:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Promising new developments on the breast cancer front
December 14, 2009 at 5:30 pm
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| Filed under: Company News, Technology, Healthcare, Sanofi Aventis, GlaxoSmithKline  The San Antonio Breast Cancer Symposium, held Dec. 9-13, brought mostly good news for breast cancer patients and drugmakers. And that's a welcome development: Aside from non-melanoma skin cancer, breast cancer is the most common form of cancer in women and the second-leading cause of cancer death in women. Estimates for 2009 put the number of new cases at over 192,000 women and nearly 2,000 men, with over 40,000 deaths in women and 440 in men, according to the American Cancer Society. Here's a wrapup of significant reports from the symposium.Continue reading Promising new developments on the breast cancer front Promising new developments on the breast cancer front originally appeared on DailyFinance on Mon, 14 Dec 2009 17:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Should the Fed spend $2 trillion more to jump start job creation?
December 14, 2009 at 4:30 pm
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| Filed under: Economy  New York Times (NYT) columnist Paul Krugman (pictured), an economist by training, an Ivy League academic by profession, and no stranger to bold proposals, has offered another big idea, recommending that the U.S. Federal Reserve double its already record-high balance sheet.
Krugman wants the Fed to buy another $2 trillion in assets to make more credit available, something Krugman argues will help the U.S. economy grow faster and create more jobs, which the nation really needs. Currently, the Fed's balance sheet is $2.17 trillion.Continue reading Should the Fed spend $2 trillion more to jump start job creation? Should the Fed spend $2 trillion more to jump start job creation? originally appeared on DailyFinance on Mon, 14 Dec 2009 16:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Sources of Productivity: Accenture cuts the waste from clients' IT budgets
December 14, 2009 at 3:30 pm
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| Filed under: Company News, Technology  U.S. productivity grew 8.1% in the third quarter, the Labor Department told us last week. In the short term, that's great news for company profitability, but bad news for workers. In the medium term, though, higher productivity is good for both companies and workers, because if demand starts to grow, companies will still need to hire more workers to meet that demand. But where does increased productivity come from? The second post of this three-part series focuses on another company that shows its clients how to be more efficient.
As I explained in my first installment of this series, application portfolio management (APM) is a consulting process that helps companies get more out of their information technology spending. Accenture (ACN) calls its APM process Application Portfolio Optimization and Renewal. I spoke with Adam Burden, global managing director at Accenture, who said that APOR's theme is simple: "Companies have bloated application portfolios that collect debris from years of investment." Continue reading Sources of Productivity: Accenture cuts the waste from clients' IT budgets Sources of Productivity: Accenture cuts the waste from clients' IT budgets originally appeared on DailyFinance on Mon, 14 Dec 2009 15:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| People@Work: Social media's a boon for job seekers, but keep a sharp resume too
December 14, 2009 at 12:15 pm
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| Filed under: Columns, Economy, People  Perhaps you've heard the one about the guy who sent a single "tweet" and got a job? It's pretty entertaining, but it's no joke. Freelance graphic designer Hal Thomas did just that in response to an ad posted by BFG Communications. The ad requested job candidates apply for the position with one message posted to social media network Twitter. Thomas' winning submission, which included a mock-up of a Wired magazine cover he created to showcase his talent, landed him the job and created buzz within social media circles.
As social media sites such as Twitter become increasingly popular, more and more such stories are likely to surface. New technology and networking methods are seemingly relegating cover letters and resumes to the dustbin of history. But does that mean job seekers should abandon the effort and expense it takes to create stellar cover letters and resumes?Continue reading People@Work: Social media's a boon for job seekers, but keep a sharp resume too People@Work: Social media's a boon for job seekers, but keep a sharp resume too originally appeared on DailyFinance on Mon, 14 Dec 2009 12:15:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Citi's TARP payback is fine, but it's no solution
December 14, 2009 at 11:45 am
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| Filed under: Company News, Columns, Economy, Goldman Sachs , Citigroup  Today is Bash Wall Street day in Washington, as a herd of bankers gets rounded up to sit for a presidential tongue lashing. But Washington can't afford to alienate Wall Street too much because of the $5 billion in campaign contributions and lobbying fees that financial institutions have funneled to politicians in the last decade. So, today's announcement that Citigroup (C) will pay back the $20 billion in TARP funds is good for Citi's bonus-hungry bankers -- but not so great for America.
Before examining that repayment, let's explore the delicate relationship between Wall Street and Washington a bit more. The first thing to understand is that Wall Street isn't admired so much on Main Street -- 66% of Americans take a dim view of financial executives, according to Bloomberg News. Continue reading Citi's TARP payback is fine, but it's no solution Citi's TARP payback is fine, but it's no solution originally appeared on DailyFinance on Mon, 14 Dec 2009 11:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| In-store and online, shoppers get their holiday markdowns
December 14, 2009 at 11:30 am
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| Filed under: Company News, Technology, Economy, Amazon.com Inc.  The holiday shopping season is coming into crunch time. Halfway through Hanukkah and going into the final stretch of Christmas shopping, shoppers are still holding out. So get ready for some markdowns.
Despite the signs of economic improvement and the surprising pop in November sales, shoppers are not taking the bait. The Associated Press reported mall parking lots were full last weekend, but shoppers' bags were not.Continue reading In-store and online, shoppers get their holiday markdowns In-store and online, shoppers get their holiday markdowns originally appeared on DailyFinance on Mon, 14 Dec 2009 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| TARP may end soon, but the battle over banker pay goes on
December 14, 2009 at 10:45 am
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| Filed under: Company News, Economy, Investing, Goldman Sachs , American International Group, INC., Bank of America, Citigroup  While America's biggest banks may still be kicking and screaming about their need to make compensation decisions without interference, the bailouts they took from the government could impact their freedom to hand out excessive cash compensation for years to come. Even the hiring of a CEO for Bank of America (BAC) is proving a challenging negotiation, according to a report in the The Wall Street Journal Monday.
Bank of New York Mellon Chief Executive Robert Kelly has emerged as the front-runner to replace Kenneth Lewis, but the Journal reported that the pay package may be a deal-breaker. Even though Bank of America has paid back its TARP money, it remains sensitive to possible public outrage about its new CEO's compensation.Continue reading TARP may end soon, but the battle over banker pay goes on TARP may end soon, but the battle over banker pay goes on originally appeared on DailyFinance on Mon, 14 Dec 2009 10:45:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Obama takes Wall Street to the woodshed -- but will he follow through?
December 14, 2009 at 10:25 am
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| Filed under: People, Investing, JP Morgan Chase, Goldman Sachs , Bank of America On Sunday night's 60 Minutes, President Obama punched up  his ongoing rhetorical battle with Wall Street, declaring that "fat cat bankers" have shown little "shame" about their out-sized compensation packages. Today, investors will see if the leader of the free world backs up his words with deeds as Obama meets with top financial executives.
In the interview, Obama suggested that many banks are paying back their TARP money early solely to free themselves from government restrictions on pay. He used fairly strong language, in what appeared to be a nod to the populist outrage over Wall Street bailouts.Continue reading Obama takes Wall Street to the woodshed -- but will he follow through? Obama takes Wall Street to the woodshed -- but will he follow through? originally appeared on DailyFinance on Mon, 14 Dec 2009 10:25:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Update: Glenn Beck no longer a 'paid spokesman' for Goldline
December 14, 2009 at 10:10 am
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| Filed under: People, Media, News Corp.  When we last checked in on Glenn Beck, the baby-faced conservative host was being credited as a "paid spokesman" for Goldline, a gold-coin vendor, even as his employer, News Corp.'s (NWS) Fox News, was saying its personalities aren't allowed to make product endorsements. Clearly, something had to change.
And now something has. In response to inquiries from DailyFinance, Fox's legal department sent a letter to Beck's agent, George Hiltzik, laying out the network's position. Now, as The New York Times notes, Goldline has subtly reframed the nature of its relationship with Beck.Continue reading Update: Glenn Beck no longer a 'paid spokesman' for Goldline Update: Glenn Beck no longer a 'paid spokesman' for Goldline originally appeared on DailyFinance on Mon, 14 Dec 2009 10:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks in the news: Citigroup, Exxon Mobil, Google, Visa
December 14, 2009 at 9:10 am
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| Filed under: Company News, Investing, Exxon Mobil, General Electric , Google , Kraft Foods, Morgan Stanley , Bristol-Myers Squibb, Sun Microsystems, Comcast, Amazon.com Inc., Citigroup Citigroup Inc. (C) said Monday it is repaying $20 billion in bailout money of the $45 billion it received from the Treasury Department. Citi doesn't need to pay the remaining $25 billion, as the government has converted it into a 34% stake in the bank. Paying back the TARP money would help Citi at least reduce the government's influence over its actions, and give it more control over executive compensation. Citigroup shares dropped about 3.5% ahead of the bell. Exxon Mobil Corporation (XOM) will acquire XTO Energy Inc. (XTO) in a $31 billion all-stock agreement. The deal will boost Exxon's presence in the natural gas industry at a time of low prices for the commodity. Exxon Mobil shares declined 1.3% in pre-market trading; XTO's soared about 20%. Continue reading Stocks in the news: Citigroup, Exxon Mobil, Google, Visa Stocks in the news: Citigroup, Exxon Mobil, Google, Visa originally appeared on DailyFinance on Mon, 14 Dec 2009 09:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| E-commerce spending picks up speed
December 14, 2009 at 9:00 am
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| Filed under: Economy, Amazon.com Inc.  E-commerce sales for the holiday are doing so well that it is almost certain they will post a gain for the holiday season.
According to Comscore, the online research firm, "For the holiday season-to-date, $19.9 billion has been spent online, marking a 3% increase versus the corresponding days last year. The most recent week saw above average online spending growth of 4% versus a year ago, as two individual days surpassed $800 million in spending, led by Thursday, Dec. 10, with $852 million." Are the sales coming at the expense of "brick-and-mortar" stores, or are they really net sales that augment sales at retail locations? The trend is probably not good for conventional retailers. Continue reading E-commerce spending picks up speed E-commerce spending picks up speed originally appeared on DailyFinance on Mon, 14 Dec 2009 09:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks are poised for a higher start as Dubai gets bailed out
December 14, 2009 at 7:55 am
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| Filed under: Company News, Economy, Investing  U.S. stocks are set to open higher Monday morning after Dubai received a last-minute lifeline from neighboring Abu Dhabi, which lent it $10 billion on a day some debt was to expire. Meanwhile in the U.S., Citigroup announced it will repay its bailout funds.
Without much in the way of economic reports, investors are likely to concentrate on the banking sector, as many execs are meeting today with President Obama to discuss lending and compensation practices, as well as falling oil prices.
More here: Before the bell: Futures higher after Dubai's bailout, Citi repaying TARPStocks are poised for a higher start as Dubai gets bailed out originally appeared on DailyFinance on Mon, 14 Dec 2009 07:55:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Abu Dhabi lifeline spurs recovery in Asian markets
December 14, 2009 at 7:00 am
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| Filed under: Economy, Investing  In Asia Monday, China's Shanghai Composite Index gained 1.7% to close at 3,303 and Hong Kong's Hang Seng Index added 0.8% to end the day at 22,086. In Japan, the Nikkei 225 Index was nearly unchanged, slipping 0.02% to 10,106. U.S. markets are also set to rise.
News that neighboring emirate Abu Dhabi will supply $10 billion to help Dubai pay off debts, which have rattled investors who fear that the enormity of the desert kingdom's debt would create a second wave of financial turmoil, sent shares in Dubai investors higher. Hong Kong-listed HSBC (HBC), a major lender to Dubai World, surged 1.7%. Standard Chartered (SCBFF), which Bloomberg reports has made $18 billion of loans in the Middle East, shot up 3.9%.Continue reading Abu Dhabi lifeline spurs recovery in Asian markets Abu Dhabi lifeline spurs recovery in Asian markets originally appeared on DailyFinance on Mon, 14 Dec 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Google could have the iPhone team dialing 911
December 13, 2009 at 9:45 pm
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| Filed under: Company News, Technology, Google , Motorola, Apple, AT&T  In the heart of the holiday phone-buying season, AT&T (T) handed Google (GOOG) a fabulous present and partner Apple (AAPL) a lump of coal. Both were wrapped in one spectacular network failure. On Friday and parts of Saturday, AT&T's network went down in San Francisco, stranding thousands of the Web's most vocal and demanding iPhone users.
This came on the heals of another PR disaster when senior AT&T executives told analysts that the phone giant was trying to figure out how to "incentivize" heavy bandwidth users to use less of AT&T's unlimited data plan in order to improve network quality for all. Or as Fake Steve so aptly put it, AT&T was trying to figure out how to get its customers to buy less of its products.Continue reading Google could have the iPhone team dialing 911 Google could have the iPhone team dialing 911 originally appeared on DailyFinance on Sun, 13 Dec 2009 21:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments | | |  |
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After President Obama smashed Wall Street for 
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