Who Is Tony Hayward?
By Heather Horn of The Atlantic Wire BP Chief Tony Hayward is scheduled to appear before Congress at 10 a.m. Thursday, a day after meeting with President Obama and promising a $20 billion compensation…
All Work
Douglas A. McIntyre
Will Murdoch Sell MySpace For $1?
Now that AOL, Inc (NYSE: AOL) has sold social network Bebo to Criterion Capital, which must have more money than sense, Rupert Murdoch has a precedent for dumping his moribund social network MySpace. The…
Today’s Best Market Rumors (6/17/2010)
Updated throughout the day. The government has ended its investigation into American International Group, Inc (NYSE: AIG) and its management. (CNBC) Clothing company Barney’s will lose $60 million this year (NYPost) Nomura will begin…
The Twitter-24/7 Wall St. Stock Market Report 6.17.2010 The Wisdom Of Crowds?
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…
BP Shares May Double
The problems in the Gulf have caused BP’s shares to drop from a 52-week high of $62 to the current price of $32. Two years ago, they were almost $70. BP’s stock is likely…
Saving The Big Entitlement Programs: Medicare, Medicaid, And SS
It is hard to believe that a big government program could be wasteful, but a new study shows that Medicaid spends too much money on drugs. It does not mandate the generics be used…
A Task For US Government: Suspending Foreclosures In The Gulf
Citigroup (NYSE: C) said it would halt foreclosures in areas 30 miles or less from the Gulf oil spill and suspend evictions for people in homes in the region for 90 days. The federal…
Will Every American Sue BP?
BP’s new $20 billion escrow account to help clean up the Gulf of Mexico and those hurt by the spill does not count for much. It will hurt BP’s shareholders for a while but…
Media Digest (6/17/2010)
Reuters: The head of BP plc (NYSE: BP) is about to testify before Congress. Reuters: Spain may use 30 billion euros to support its faltering banks. Reuters: Oil moved above $77 and gold prices…
Jobs, Loathed By Competitors, Sells 600,000 iPhones
Each time Steve Jobs of Apple Inc. (NASDAQ: AAPL) launches a new product, he has a chance of launching Apple’s first major failure since the introduction of the iPod in 2001, Apple TV notwithstanding.…
BP Loses Last Ace, Gives Into US Escrow Demand And Kills Dividend
BP p.l.c. (NYSE: BP) gave up the last ace it had in the hole, agreeing to set up a $20 billion escrow account which will be used to compensate the people and businesses harmed…
Nokia Tumbles on Dreary Forecast
Nokia Corp. (NYSE:NOK) makes and sells more handsets than any other company in the world. The company faces two problems. First, it doesn’t compete well against high-end smartphones from Apple Inc. (NASDAQ:AAPL), Research in…
Apple OS Leaves Competition To Eat Dust
According to research firm Quantcast, the leading OS among wireless subscribers who search the web is the Apple Inc. (NASDAQ: AAPL) operating system with a nearly 60% share. Google’s (NASDAQ: GOOG) Android OS which…
AT&T Kills Apple iPhone 4 Pre-Orders
From the AT&T website: “Pre-orders for iPhone temporarily suspended.” So much for Father’s Day. Douglas A. McIntyre
Today’s Best Market Rumors (6/16/2010)
Updated throughout the day. The US, EU, and IMF will give Spain $300 billion in aid (various) The Fed may not be regulated under the new financial reform bill (Reuters) BP p.l.c. (NYSE: BP)…
Housing Bleeds Out
Perhaps it is the expiration of housing tax credits, or high unemployment, or fears about a second recession. The Commerce Department said that housing starts in May were awful Privately-owned housing starts in May…
The Twitter-24/7 Wall St. Stock Market Report 6.16.2010 The Wisdom Of Crowds?
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…
Nokia Hammered By Apple And Android
Nokia oy (NYSE: NOK) may hold 38% of the global handset market, but it has lost whatever edge it had in the smartphone market–mostly to the Apple Inc (NASDAQ: AAPL), Google Inc (NASDAQ: GOOG)…
German Confidence Drops As It Sweats The EU Recovery
Germany’s economy, the fourth largest in the world, is supposed to carry it through the Eurozone disaster. That is what the Germans thought. But the confidence has become a fascade. According to the ZEW…
The Question Comes Up Again: Will The US Rescue Europe
The EU denied rumors that it would give Spain an aid package of $307 billion along with the IMF and US. Spain’s borrowing costs are moving toward those that Greece had to pay before…