GDP Revised Downward — Bad Or Good News?
First the bad news: Gross Domestic Product increased at an annual rate of 1.6 percent in the second quarter of 2010 from the first quarter. The good news is that this revision from the…
All Work
Douglas A. McIntyre
Today’s Best Market Rumors (8/27/2010)
Updated throughout the day. American International Group (NYSE: AIG) will not sell its Asian business (Reuters) Manulife Financial and Ace are bidders for New York Life’s Hong Kong, Korean, and Taiwan assets. (Reuters) Federal…
GDP Down To 1.6%, Could Have Been Worse
The Department of Commerce cut its GDP figure to 1.6% from the previous estimate of 2.4%. The change was due to factors including inventory changes and the strength of imports. The number could have…
The Twitter-24/7 Wall St. Market Report 8/27/2010 GDP Crash, Boeing Mistake, HP Bid
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Google Launches Real Time Search
Google Inc (NASDAQ: GOOG) launched its realtime search product saying, “we’re making our most significant enhancements to date, giving real-time information its own home and more powerful tools to help you find what you…
A Flicker Of Economic Life In Japan And The UK
There were tiny signs of life in two of the world’s largest economies, anomalies in a period when the global economy may be falling into a double dip recession. Japan announced that its jobless…
Boeing Delays Dreamliner Again, Management Under More Pressure
Boeing (NYSE: BA) announced that the delivery of its 787 Dreamliner would be delayed until the mid-first quarter of 2011, the 8th delay since the aircraft’s creation was announced more than five years ago.…
Media Digest (8/27/2010) Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Bernanke may admit the economy is weak but not five details of the Fed’s plans. Reuters: Hewlett-Packard (NYSE: HPQ) outbid Dell (NASDAQ: DELL) for 3Par (NYSE: PAR) by offering $27 a share for…
Icebergs On The Horizon?
Like great art, pornography and classic rock, everyone knows an economic recovery when they see one. Or do they? Until recently, many economists were steadfastly arguing that the worst economic crisis since the Great…
Toyota Breaks Another One Million Cars–Will Fix Them
Toyota Motor (NYSE: TM) probably recalled as many cars in 2010 as the company has made since it was founded. Today, Toyota added to that list–if that is possible. The Japan-based company said “it…
Online Privacy Is Largely a Myth
The most unhip companies in America are wise to social media and employees better watch what they say on sites such as Facebook and Twitter. Now, lawmakers in Germany are trying to put limits…
Today’s Best Market Rumors (8/26/2010)
Updated throughout the day. Apple Inc (NASDAQ: AAPL) will show new iPods on September 1. The bankrupt Tribune Company may offer its chairman’s job to former Walt Disney (NYSE: DIS) CEO Michael Eisner. Douglas…
The Twitter-24/7 Wall St. Market Report (8/26/2010) Dell Ups Offer, Jobless Claims
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
The Cost Of Phone Calls Is Headed Toward Zero
Skype, which offers free voice calls from PC-to-PC and cheap calls from phones has about 400 million subscribers. More than 25 million of them use the service at any one time. The Skype product…
S&P To Rise To 1,500?
Many of Wall St’s most well-regarded analysts still believe that the S&P 500 will rise from its current level of 1,055 between now and the end of the year. Some forecasts have been cut…
The SEC’s Meaningless Plan To Offer Shareholders More Power
The way that board members get elected at public companies is simple. The nominating committee of the board, often friends of the CEO, put the name of current directors or new ones they might…
A New Round Of Corporate Layoffs?
Defense contractor Northrop Grumman cut 642 people from its ship building operation yesterday. That follows another 300 cuts from the same operation last month. The reason given was that the Navy has slashed orders…
Media Digest (8/26/2010) Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: BHP Billiton (NYSE: BHP) will take its case to Potash (NYSE: POT) shareholders. Reuters: Google In.c (NASDAQ: GOOG) will allow phone calls from Gmail accounts. Reuters: The Bank of Japan may begin to…
What About Those Job Loses From The Drilling Moratorium?
In early June, an irate Louisiana Gov. Bobby Jindal fired off a letter to the White House warning that as many as 20,000 jobs would be lost over the next 12 to 18 months…
Labor Day Travel Increases, Airlines Remain Disappointed
Holiday travel for this Labor Day weekend is expected to make a recovery from last year’s decline, AAA reports. The increase in late-summer vacations, which is expected to be 9.9% greater than 2009’s numbers,…