Some Americans Still Cannot Afford Food
As extraordinary as it may seem, one in four people in Mississippi could not afford to buy food at least once in the past year, according to Gallup. Perhaps it makes sense that the…
All Work
Douglas A. McIntyre
German Job Cuts? Another Bad Sign for Region
German newspaper Boersen-Zeitung reports that industrial giant Siemens AG (NYSE: SI) may cut thousands of jobs in the fall. The action is described as “explosive,” at least as far as a rough translation says.…
Why CNNMoney Matters
CNNMoney is the 10th largest financial and business website in America, at least as audience measurement firm Comscore rates it. The site has 10.2 million unique visitors in July, which places it just behind…
What’s Important in the Financial World (8/21/2012)
Fast Corn Harvest Farmers are bringing in corn harvests as fast as possible. The trend will not help overall supply, except in the early part of the season. The shift in harvest time, therefore,…
Media Digest (8/21/2012) Reuters, WSJ, NY Times, FT
The International Monetary Fund and World Bank do not think the rise in food prices will bring a global financial crisis. (Reuters) Apple Inc. (NASDAQ: AAPL) is the largest company by market cap in…
Silicon Valley Legend Peter Thiel Sells Facebook Shares
Based on filings with the SEC, Silicon Valley legend Peter Thiel has sold millions of shares of Facebook (NASDAQ: FB) held by various of his funds, most of which carry the Founders LP fund name. The…
Market Tears Lungs Out of Best Buy, Shares Off 7%
Either the market does not believe that Best Buy’s (NYSE: BBY) new CEO Hubert Joly, former head of hotel operator Carlson, can turn the consumer electronics retailer around, or fears have grown that founder…
Today’s Best Market Rumors (8/20/2012) GM to Settle with Workers in Germany
Updated throughout the day on the 24/7 Wall St. Wire: General Motors Co. (NYSE: GM) is close to a deal to cut worker hours at its German plants. (WSJ) Greece hopes that new cuts to…
Will an Apple Patent Victory Kill Smartphones?
Speculation has grown about what will happen to the smartphone industry if Apple Inc. (NASDAQ: AAPL) prevails over Samsung in an intellectual property trial. Both sides have rested their cases and said they cannot…
Greek Premier Visits Germany
Greek prime minister Antonis Samaras will visit Germany this week with hat in hand. Ahead of his meeting with Angela Merkel and other senior Germany officials, the core purpose of the meetings is already…
China’s Home Price Recovery
China’s Statistics Bureau reported that in July new home prices rose in 49 of the 70 cities measured. According to MarketWatch, that was the broadest advance in 14 months. At first blush, it would…
What’s Important in the Financial World (8/20/2012)
China’s New Home Prices Rise China’s Statistics Bureau reported that in July new home prices rose in 49 of the 70 cities measured. According to MarketWatch, that was the broadest advance in 14 months.…
Oil Approaches $100 a Barrel
After months in retreat, WTI crude has moved back to near $100 a barrel. Today it trades at $96.27, and over the past several weeks, the trend has been up. Economists can renew the debate…
China Is Not U.S. Manufacturing’s Biggest Foe
National Association of Manufacturers (NAM) President and CEO Jay Timmon has never run a manufacturer himself. Yet he is fond of passing judgement on what has hurt the large economic sector, particularly through criticism of the federal government’s…
Downsizing Is Best Buy’s Only Option
No matter who gets control of Best Buy Co. Inc. (NYSE: BBY), its current board or founder Richard Schulze, the company faces brutal cuts in stores and personnel. There is no other way out…
Media Digest (8/20/2012) Reuters, WSJ, NYT, FT, Bloomberg
Workers in the aerospace industry are concerned about potential military cuts at the end of this year. (Reuters) Best Buy Co. Inc. (NYSE: BBY) says that founder Richard Schulze turned down an offer from…
Companies Paying Their CEOs More Than the Taxman
The press recently had a field day with a report from the “Institute for Policy Studies” about executive pay. The report said the of the 100-highest paid U.S. CEOs in 2011, “26 took home…
One Thing That Could Make Facebook’s Stock Surge
courtesy Facebook Inc.A large upside earnings surprise for the current quarter is the one and only thing which could pull Facebook (NASDAQ: FB) shares out of their tail-spin and push them up considerable. Facebook’s stock…
Today’s Best Market Rumors (8/17/2012) Yahoo! COO
Updated throughout the day on the 24/7 Wall St. Wire: Yahoo! (NASDAQ: YHOO) begins the search for a new COO. (AllThingsD) The White House may release part of the U.S.’s strategic oil reserve in…
Spain Bank Loans Get Worse
Bad loans held by Spain’s banks rose in June to reach record levels. The news might have been expected because so many of these loans are mortgages and Spain’s real estate sector continues to…