What’s Important in the Financial World (10/25/2012)
End of the U.K. Slump? The United Kingdom may have pulled out of a downward economic cycle. At least that is what official government data shows. For the third quarter of this year, gross…
All Work
Douglas A. McIntyre
CEO Letter on Deficit Goes to Illiterate Congress
The text of a letter to Congress signed by 80 CEOs, first published in The Wall Street Journal, asks for a number of actions to be taken soon so the economy will not be…
Media Digest (10/25/2012) Reuters, WSJ, NY Times, FT
thinkstockBest Buy Co. Inc. (NYSE: BBY) cuts forecasts. (Reutesr) Spain will increase the rate at which its helps its regional governments. (Reuters) The federal government sues Bank of America Corp. (NYSE: BAC) in the…
Web 1.0 Sites Still Dominate Internet
A look at the websites that have the largest audiences in America shows that Web 1.0 properties, launched in the 1990s before broadband was widely available, led the list by audience size. The sites…
Short Sellers Flee Weak Companies
Short sellers must believe that, if the market rises, shares of weak companies will go along. Their positions in stocks that should drop due to their recent financial statements, and in some cases historical…
Best Buy Warns — Coroner to Pick Up Body
Best Buy Co. Inc. (NYSE: BBY) should have hoped founder Richard Shulze might have bought the firm as he considered its financial status. Now, it may be too late. Best Buy offered the kind…
What’s Important in the Financial World (10/24/2012)
Holiday Shopping Forecast Consulting house Deloitte issued survey results that will depress retailers. People will drive to the malls in droves this year, as foot traffic for holiday sales improves. CNBC reports: One half…
Home Builder Stocks Up Sharply, Troubled Techs Down
As the market reaches its most choppy period in the past few months, it is worth a look at which stocks have done the best so far in 2012 and which have done the…
Dying Worker Mobility and the Economy
There is something to be said for the benefits of worker mobility, which helped define the U.S. economy from the 1950s until recently. People would relocate to find the best jobs. Employers had access…
With New iPad, Apple Has Supply Chain Problem
Apple Inc. (NASDAQ: AAPL) has a habit of launching products that are quickly sold out. In the past, this probably boosted demand as consumers realized that desire for Apple’s products was beyond belief. Better…
Media Digest (10/24/2012) Reuters, WSJ, NYT, FT, Bloomberg
The public editor of The New York Times, the flagship of the New York Times Co. (NYSE: NYT), questions the appointment of new CEO Mark Thompson because he ran the BBC during a period…
China Manufacturing, Europe, and the Fiscal Cliff
Consumers and businesses in Russia, India, Brazil and Canada must be faring unusually well. Because China has to be sending its factory goods somewhere. China’s factory activity based on the HSBC PMI rose to…
Dow Chemical: National Employee Morale Day with 2,400 Fired
National Employee Morale Day came to Dow Chemical Co. (NYSE: DOW) as it fired 2,400 people and closed 20 factories. America’s large industrial sector, which appeared to be on the mend earlier this year…
Xerox CEO Ursula Burns Kills The Company
Ursula Burns, Xerox’s (NYSE: XRX) CEO for three years, has allowed the company to be crushed by the digital age. The trouble shows in Xerox’s shares which are down 40% in the last two…
Earnings Worries Trigger Steep Selloff
By Adam Samson / FoxBusiness Mounting concerns about the outlook for corporate profits sent traders rushing out of risky assets across the board on Tuesday. Every major sector was in the red, with financials,…
GE Digital Marketing Will Not Disquise Firm’s Deep Flaws
General Electric Co. (NYSE: GE) recently discussed its ambitious digital media plans. Left out of the discussion was the deep dissatisfaction about the firm’s management and performance born of years of earnings that have been…
Today’s Best Market Rumors (10/23/2012) Sony to Close Tech Center
Updated throughout the day on the 24/7 Wall St. Wire: Apple Inc. (NASDAQ: AAPL) plans to launch the iPad mini today. (Reuters) Sony Corp. (NYSE: SNE) will close its Tokyo tech center. (Reuters) Douglas…
What’s Important in the Financial World (10/23/2012)
Employees Battle Walmart Wal-Mart Stores Inc. (NYSE: WMT) has entered another battle with some of its employees. The company has a history of complaints and lawsuits in a range of issues from discrimination against…
Chevron’s Reputation as a Major Polluter Grows
Chevron Corp.’s (NYSE: CVX) reputation as a major polluter recently has grown rapidly, and the cause is not just fines of more than $19 billion to Ecuador for environmental damage in the Amazon region.…
Gasoline Prices Plunge at Last
Jon OggFinally, after a run-up in gasoline prices, they have begun to fall rapidly. The trend may help offset consumer concerns about their financial troubles as the fiscal cliff approaches. The impact of the event could…