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Daily Archives: January 9, 2009

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Hearst To Dump Seattle P-I

Posted: January 9, 2009 at 4:13 pm

It seems that the newspaper industry changes are not going to slow down any time soon.  An ominous announcement came across Business Wire today saying Hearst Corporation intends to jettison ...
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Rubin Out At Citi (C)

Posted: January 9, 2009 at 3:13 pm

The WSJ first reported that famed ex-Treasury Secretary Bob Rubin will be leaving the board of directors at Citigroup Inc. (NYSE: C).  This has now been confirmed in multiple reports ...
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Counter-Cycle Upgrades in YRC Worldwide (YRCW)

Posted: January 9, 2009 at 3:03 pm

The business of trucking and transporting goods has not  been a stellar for quite some time.  In 2007 to 2008, the sector was hurt by escalating gas prices and an ...
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More Nukes in the Pipeline (CEG, PPL, EXC)

Posted: January 9, 2009 at 2:15 pm

UniStar Nuclear Energy, a joint venture between Electricite de France (EDF) and Constellation Energy Group Inc. (NYSE:CEG), and PPL Corporation (NYSE:PPL), a UniStar partner, have passed the first regulatory review ...
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Boeing Goes Boing Boing With Pink Slips (BA)

Posted: January 9, 2009 at 2:06 pm

Boeing Co. (NYSE: BA) has decided that it wanted to get into the business of pink slips.  The aerospace and defense giant announced that it plans to shed some 4,500 ...
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Rig Counts Fall in December (BHI)

Posted: January 9, 2009 at 2:05 pm

Baker Hughes Incorporated (NYSE:BHI) released its monthly rig count report this morning. Compared with November counts, drilling rigs in North America are off about 9%. Compared with December 2007, North ...
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A Big Writedown At Macy’s (M)? A Question Of Who Is Next

Posted: January 9, 2009 at 1:57 pm

It is beginning to dawn on Wall St. that jobs are not the only thing that retailers will be cutting. The value of their stores, inventories, and any past M&A ...
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More Layoffs Coming in the Oil Patch (CVX, SLB, XOM, COP, BP)

Posted: January 9, 2009 at 1:52 pm

Chevron Corporation (NYSE:CVX) already gave its severe earnings warning and we have already seen layoffs coming out of Schlumberger Limited (NYSE: SLB). [] and its dragging down share prices for ...
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Nordstrom Gets New Largest Shareholder (JWN)

Posted: January 9, 2009 at 10:59 am

It looks like Nordstrom Inc. (NYSE: JWN) has a new largest shareholder.  An existing holder called Capital World Investors has increased its ownership in the upscale retailer and now owns ...
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Recession Fallout: Layoffs in Wrestling (WWE)

Posted: January 9, 2009 at 10:38 am

As if you would not have guessed, wrestling is apparently not a recession-proof business.  This morning there was an announcement from World Wrestling Entertainment Inc. (NYSE: WWE) that it was ...
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Greenstreet SPAC Dies, Before Even Launching

Posted: January 9, 2009 at 9:52 am

Another Special Purpose Acquisition Company, or SPAC, has bitten the dust.  This one bit the dust before it even launched.  In a filing with the SEC, Greenstreet Acquisition Corp. is ...
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Morgan Joseph Upgrades Palm (PALM) to Buy On The New Pre

Posted: January 9, 2009 at 9:40 am

Morgan Joseph upgrades Palm (NASDAQ: PALM) to Buy with a $6.50 price target, following the intro of the Palm Pre.The firm said, "Yesterday, Palm introduced what we believe is an ...
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Russia, Ukraine, Europe.. Good Cop, Bad Cop

Posted: January 9, 2009 at 9:40 am

It seems that the odd nature of natural gas supplies to Europe from Russia may be taking a turn toward normalcy.  At least whatever that means in Russia and anyone ...
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7.2% Unemployment Will Only Get Worse From Here

Posted: January 9, 2009 at 8:46 am

It seems that Donald Trump is in charge everywhere if you look at the most recent data from the Labor Department: everyone is fired. Today's report could have gone much ...
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The Horrible Jobs Report May Save The Economy

Posted: January 9, 2009 at 8:35 am

By most estimates the report on December unemployment could hardly have been worse. Many experts believe that 500,000 jobs would be lost and that unemployment would rise to 7%. The ...
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