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Market Oracle FREE Newsletter

Category: Corporate News

The analysis published under this category are as follows.

Companies

Monday, July 24, 2017

Activist Investors Are Taking Over Wall Street, Procter and Gamble Might Never Remain the Same / Companies / Corporate News

By: Boris_Dzhingarov

In February, billionaire investor Nelson Peltz revealed that he had purchased a $3.5 billion stake in Procter & Gamble Co (NYSE:PG) through his investment firm, Trian Partners.  Wall Street suspected that the purchase was part of a grand strategy even though Mr. Peltz didn’t offer any proposals on making changes in the company. Market analysts surmised that the billionaire investor was bidding his time – now it seems that Peltz indeed had plans to make some changes at Procter & Gamble after all.
Read full article... Read full article...

 


Companies

Thursday, July 06, 2017

US Fed and Mainstream Media’s Moronic Statements On The Whole Foods Buyout / Companies / Corporate News

By: Jeff_Berwick

It’s already bad enough we live in a world overpopulated by idiots. Worse, they are often in charge of ‘the monetary system’ and even head up ‘the media’! Luckily for tomorrow, entrepreneurs are busy developing a decentralized crypto-monetary platform for a money that nobody can control, and an alternative media, of which we are part.

One recent article encompassed precisely the unnecessity of the stupidity of central bankers and their mainstream financial media lapdogs.

Read full article... Read full article...

 


Companies

Saturday, January 14, 2017

The Impact of Sir Alex Ferguson's Retirement on Man United's Share Price / Companies / Corporate News

By: Submissions

DELETED....

 


Companies

Thursday, August 18, 2016

Corporations – And Corporate Execs — Fall Out Of Love With Their Shares / Companies / Corporate News

By: John_Rubino

It’s no secret that one of the main things propping up the US stock market has been corporations’ willingness to buy back their own shares with borrowed money. The following chart illustrates the rather amazing correlation between share repurchases and share prices.

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ConsumerWatch

Thursday, August 04, 2016

Walkers Spell and Go Holidays Winners List Post-mortem / ConsumerWatch / Corporate News

By: Anika_Walayat

Hello everyone, I am back for a Walkers Spell and Go Post-mortem update as Walkers Spell and Go is now officially DEAD, for if you go to the walkers website and click any of the ‘Spell and Go’ links you go a page that effectively tells you that it is DEAD. So here is our update video on how many of the 20,000 advertised holidays walkers has likely awarded during its 4 month long promotion -

Read full article... Read full article...

 


Companies

Wednesday, July 13, 2016

How Hostess Has Adapted Even the Twinkie to a Changing World / Companies / Corporate News

By: Rodney_Johnson

In 2004, Hostess Brands declared bankruptcy. At the time, I wrote that the maker of Twinkies, Ho Hos, and Snoballs was suffering because of demographic trends.

As millennials aged past elementary and middle school, they quit munching on such snacks. With fewer kids in the younger age cohorts, slower Twinkie sales seemed inevitable

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Companies

Friday, July 01, 2016

Will PayPal Ever Hit Its Stock Price Target? / Companies / Corporate News

By: Boris_Dzhingarov

Can shares of PayPal, which began trading as an independent company last year after its spinoff from eBay, manage to reach its share price target estimated by analysis at $45 a share? According to comments on Twitter and StockTwits, a financial social media platform from back when PayPal first began trading, many thought that this was certainly possible. Right at the beginning, PayPal shares were closing at around $40, valuing PayPal at $49.4 billion. However, currently, PayPal share prices are valued at $35.08, just under $10 less than their share price target for 2016.

Read full article... Read full article...

 


Companies

Thursday, February 04, 2016

Another Corporate Giant Is Leaving the U.S. – What This Means for You / Companies / Corporate News

By: Casey_Research

By Nick Giambruno

Try getting in shape for a marathon on an all-McDonald’s diet...

You wouldn’t be surprised to come in dead last. After all, you didn’t put in much effort. Actually, you went out of your way to make yourself less competitive. So you would expect to lose.

Read full article... Read full article...

 


Companies

Friday, January 29, 2016

Xerox - CEO Future Role, Icahn's Involvement, and Company's Debt / Companies / Corporate News

By: Bloomberg

Xerox Chairman & CEO Ursula Burns spoke with Stephanie Ruhle and David Westin on Bloomberg TV's "Bloomberg <GO>" to discuss that in an agreement with investor Carl Icahn, Xerox will split into two publicly traded companies.

Fortunately when we did speak to him, as you know he's a large holder of our shares, he agreed with the outcome we reached."

On Icahn's involvement going forward, Burns added: "On a go-forward basis he will be involved from a perspective when the company separates into two; he will have some governance input into the services business. Will not be engaged with the document technology business or with current Xerox business at all."

Read full article... Read full article...

 


Politics

Wednesday, January 06, 2016

Future of Corporatism in 2016 / Politics / Corporate News

By: BATR

Economists, stock pickers and financial analysts are eager to play the forecast game. Clients of these erudite soothsayers would like you to believe that their study of trends and markets are founded on empirical maxims. What they carefully avoid admitting is that predicting the political climate is even more important than knowing the direction that monitory central banking will follow. 2016 promises to be a pivotal year. Depend upon the overactive drive of a lame duck President to complete his task of ruining the economy before he leaves office.

Read full article... Read full article...

 


Companies

Monday, July 20, 2015

Stock Markets "Whistle Past the Graveyard" as Google Gains $65 Billion in Just One Day / Companies / Corporate News

By: ...

MoneyMorning.com Michael E. Lewitt writes: While markets decided to ignore what are destined to be doomed attempts to cover over intractable debt crises in Greece and China, the real action in the markets last week took place in two high-flying NASDAQ stocks – Netflix, Inc. (NASDAQ:NFLX) and Google, Inc. (NASDAQ:GOOG).

Read full article... Read full article...

 


Companies

Tuesday, June 16, 2015

Time Warner Shareholders Pay CEO $100 Million Exit Package / Companies / Corporate News

By: Harry_Dent

By Rodney Johnson : Late last month Charter Communications and Time Warner Cable agreed to a merger in a $55 billion deal — closer to $79 billion if you include debt. If the merger goes through, Time Warner’s CEO Robert Marcus will leave the combined company with an exit package worth just over $100 million.

Read full article... Read full article...

 


Companies

Wednesday, April 22, 2015

GE's Restructuring Pleases Investors and Avoids Other Risks / Companies / Corporate News

By: John_Browne

On April 10, General Electric, which for 123 years has been one of America's best known and most highly respected companies, announced a radical return to its basic industrial roots. After years of disappointing share performance, and a campaign of criticism by frustrated investors, Chief Executive Jeff Immelt decided to spin off most of its $500 billion GE Capital arm which, if taken as a stand-alone company, would have been the seventh largest bank in the U.S.

Read full article... Read full article...

 


Companies

Thursday, February 05, 2015

Adidas - We're Not Gonna Compete With Our Dumbest Competitor / Companies / Corporate News

By: Bloomberg

Kevin Plank, Under Armour CEO, spoke with Bloomberg Television's Stephanie Ruhle this morning to discuss the company's acquisition of the MyFitnessPal and Endomondo apps.

When asked about the Adidas strategy of signing on athletes, Plank said: "Spending more money is no strategy, right? And we're not going to compete with our dumbest competitor either."

Read full article... Read full article...

 


Companies

Wednesday, February 04, 2015

The Only Way McDonald’s New CEO Can Turn Things Around / Companies / Corporate News

By: Money_Morning

Keith Fitz-Gerald writes: Just over two months ago I unceremoniously kicked McDonald’s Corp. (NYSE:MCD) off my “buy” list noting that for the first time in more than 10 years that the company was no longer tapped into any of our globally “unstoppable trends.” Now, with the stock down another 7% since then, the Board has just kicked CEO Don Thompson off the menu, too.

Read full article... Read full article...

 


Companies

Friday, December 12, 2014

Fund Managers' Sears Stock Mania Dangerous Delusion / Companies / Corporate News

By: Money_Morning

Michael E. Lewitt writes: Investors reacted with joy when Sears Holdings Inc. (Nasdaq: SHLD) announced on November 6 that it would sell 200 to 300 of its stores to a real estate investment trust (REIT) in 2015.

It was the "Big Bang" announcement investors had been waiting for since hedge fund billionaire Eddie Lampert combined Sears with the bankrupt retailer Kmart a decade ago.

Read full article... Read full article...

 


Companies

Wednesday, November 19, 2014

My Favorite Stock McDonalds Just Got Kicked Off My “Buy” List / Companies / Corporate News

By: Money_Morning

Keith Fitz-Gerald writes: This has been one of my favorite stocks for over 10 years.

I’ve called it a rock-solid investment, a powerful income play, and a global challenger that would be able to outmaneuver the competition to react to changing consumer preferences around the world. I’ve recommended it as a “BUY” twice to my Money Map Report readers, who had the chance to see great returns of at least 42.90%.

Read full article... Read full article...

 


Companies

Wednesday, November 12, 2014

As You Add Alibaba Stock, It's Time to Shed Sears / Companies / Corporate News

By: Money_Morning

As Alibaba (NYSE: BABA) enjoyed sales of over $7 billion on Monday, its iconic retail antithesis in the United States edged closer to its demise.

On Friday, November 7, Sears Holdings Corp. (Nasdaq: SHLD) stock jumped by 31% to $42.81 per share after the company announced that it was considering selling 200 to 300 of its 712 company-owned stores to a real estate investment trust (REIT).

Lest you think that's great news, consider that Sears is down nearly 50% over the past five years, and nearly 60% over the past ten years.

Read full article... Read full article...

 


Companies

Monday, October 27, 2014

Could Tesco Go Bust? How to Save Tesco from Debt Bankruptcy Risk / Companies / Corporate News

By: Nadeem_Walayat

Unbeknown to most of Tesco's remaining customers as they continue their weekly shops at its well stocked mega-stores across Britain is that Tesco is not just at the edge of a cliff but has actually fallen off it and is in a state of free fall. So whilst customers may soon start to look forward to splurging on their Christmas shopping which undoubtedly will buy the likes of Tesco time during a period when the stock price could hit bottom and bounce. However, as experienced investors well understand that which is termed a 'dead cat bounce', as literally even a cat thrown off a cliff will eventually hit bottom and bounce and so that will likely be the experience for Tesco investors over the coming months as they mistakenly assume a rallying stock price is a sign of recovery.

Read full article... Read full article...

 


Companies

Friday, October 24, 2014

Tesco Meltdown Debt Default Risk Could Trigger a Financial Crisis in Early 2015 / Companies / Corporate News

By: Nadeem_Walayat

The mainstream press is finally waking up the the catastrophe that is taking place at Britain's largest Supermarket that for well over a year has been in a state of collapse, whilst the mainstream press in large part swallowed Tesco's bogus financial numbers as its management in a complete state of denial 'of this cannot be happening' first bent and then broke umpteen accounting rules so as to hide the true state of the supermarket giant's financial picture, one of effectively fast disappearing down a financial black hole as a consequence of the fundamental factor that Tesco just CANNOT compete against the discount retailers such as Aldi and Lidl towards which Tesco has been exponentially haemorrhaging customers to the point where last week I wrote that it its customers had effectively vanished that risked the unthinkable that Tesco may not even make it to the end of the current financial year (March 2015).

Read full article... Read full article...

 


Companies

Saturday, October 18, 2014

Tesco Supermarket Crisis Worse To Come as Customers Vanish! / Companies / Corporate News

By: Nadeem_Walayat

It's a year since I started warning that Tesco was in crisis and that investors should bail out immediately (£3.80) and so far with the share price more than halving (£1.74) this mega corporation trend trajectory towards becoming a penny stock remains in tact. However, I fear things are about to get worse, much worse even to the point that within a few short months we could even be contemplating unimaginable, EXTINCTION!

Read full article... Read full article...

 


Companies

Thursday, October 02, 2014

Gross' "Minsky Moment" - What Really Happened at PIMCO / Companies / Corporate News

By: Money_Morning

Michael E. Lewitt writes: As I mentioned over the weekend, the month of September ended with two dramatically different exits: The Hollywood ending of Yankee Captain Derek Jeter's Hall of Fame 20-year career, and the acrimonious departure of Bill Gross from PIMCO, the firm he founded 43 years ago.

The departure of the two could not have been in starker contrast.

Read full article... Read full article...

 


Companies

Friday, September 26, 2014

The Home Depot Breach Boils Our Blood – and It Should / Companies / Corporate News

By: Money_Morning

Shah Gilani writes: Who should worry about data breaches?

Everyone.

You as an individual are at risk. Your bank account is at risk. Your credit is at risk. You’re at risk in ways you never thought about.

Merchants are at risk, maybe to the tune of tens of billions of dollars.

Read full article... Read full article...

 


Companies

Monday, September 22, 2014

Tesco Super Market Giant Fast Disappearing Down a Financial Black Hole / Companies / Corporate News

By: Nadeem_Walayat

Tesco, Britain's giant supermarket chain continues in its death spiral trend towards eventually becoming a mere fraction of its former size as barely a few weeks after its latest profit warning of a 25% collapse, today we find out that its financial controllers (bankers) and accountants can't control or count anything as the management wakes up to find that £250 million of expected profits no longer exists the news of which wiped out £2 billion in market capitalisation as panicked stock holders belatedly start to jump ship as the mega-corp is literally disappearing down a financial black hole.

Read full article... Read full article...

 


Companies

Sunday, August 31, 2014

Tesco Supermarket Death Spiral Latest Profits Warning and Dividend Slashed / Companies / Corporate News

By: Nadeem_Walayat

Tesco, Britian's giant supermarket chain continues in its death spiral trend towards eventually becoming a mere fraction of its former self where each quaretly report is accompanied with a new profits warning that in its latest statement cut forecast earnings further to £2.5 billion, 25% lower than last years £3.3 billion.

Read full article... Read full article...

 


Companies

Wednesday, August 13, 2014

Trouble in the Global Economy? McDonald’s, Wal-Mart Say So / Companies / Corporate News

By: DailyGainsLetter

George Leong writes: Think all is well—or at least OK—with the global economy? Don’t relax too much, as that doesn’t seem to be the case. As we all know, spending drives economic growth, whether it’s from consumers, businesses, investments, or governments. Without one part or another, there would be added pressure on other areas.

Read full article... Read full article...

 


Companies

Monday, August 04, 2014

Boycott Marks and Spencers Historic Supporter of Zionism, Israel's Killing of Palestinian Children Consequences / Companies / Corporate News

By: Submissions

Boycottisrael writes: Historically, Marks & Spencer has made statements in support of Zionism. Lord Sieff, chairman and founder of M&S who died in 2001, made several statements in support of Israel’s military policies. In 1941, Sieff said that “large sections of the Arab population of Palestine should be transplanted to Iraq and other Middle-Eastern Arab States” (Jewish Chronicle, 21/09/1941). In 1990, Sieff, in a book entitled On Management: The Marks and Spencer Way, wrote that one of the fundamental objectives of M&S was to “aid the economic development of Israel.”

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Companies

Thursday, July 24, 2014

Tesco Supermarket Death Spiral Accelerates as Customers HATE the Mega Brand / Companies / Corporate News

By: Nadeem_Walayat

The Tesco stock price continues to slide as Britain's mega supermarket chain continues to haemorrhage market share and profits as the discount retailers like termites have been eating into its business as the too big to know what to do next super market chain's management has been sat in their bunker looking at artificial charts and graphs that deluded them into staying the course despite earnings report after earnings report revealing an accelerating crisis. Well now Tesco takes its first steps towards finally recognising that it has a destiny with extinction by ejecting its CEO Philip Clarke, YES it is that serious! Clarke over the past 3 years took one of Britain's strongest companies and turned it potentially into the next Woolworth's! And at best a lost in the wilderness for a decade plus Morrisons.

Read full article... Read full article...

 


Companies

Friday, July 18, 2014

Malaysia Airlines Management Needs Overhaul After MH17 & MH370 / Companies / Corporate News

By: EconMatters

On Thursday a Malaysia Airlines flight crashed with 295 people on board over eastern Ukraine near the Russian border, there is a high probability that the conflict in this region caused this plane to be shot down by accident. There are a myriad of scenarios of how this could happen in the confusion of what essentially has been a war zone, an area that the FAA has banned all U.S. commercial flights from flying over since April of this year. These kinds of accidents happen all the time in the confusion of military hotspots if we look back at historical records, the US even shot down a commercial Iranian flight by accident, these things happen.

Read full article... Read full article...

 


Companies

Wednesday, May 21, 2014

NQ Mobile 'Substantial Fraud'; Why Wouldn't Alibaba Lie To Make Numbers Better? / Companies / Corporate News

By: Bloomberg

In an interview with Bloomberg's Stephanie Ruhle and Alix Steel, Muddy Waters LLC Founder Carson Block said there is 'clearly an issue' with audit of NQ mobile and it is 'probable' NQ Mobile does not get unqualified audit opinion. Block went as far to say to Bloomberg Television that NQ mobile is a 'substantial fraud.'

On Alibaba, Block said "you really, as a U.S. investor, have to ask yourself, well, why wouldn't they lie to make the numbers better?"

Read full article... Read full article...

 


Companies

Wednesday, April 23, 2014

Why Mohamed El-Erian Left Pimco / Companies / Corporate News

By: Bloomberg

In his first interview since leaving PIMCO, Dr. Mohammed Aly El-Erian told Bloomberg's Betty Liu this morning that he is very surprised by the media attention he received around his departure and the reason he left was "to interact with others," to "step back", "to do something different," spend more time with his daughter and travel less.

Read full article... Read full article...

 


Companies

Friday, April 11, 2014

Bill Gross to El-Erian: 'Come on, Mohamed, Tell Us Why' You Resigned PIMCO / Companies / Corporate News

By: Bloomberg

Pimco's Bill Gross spoke with Bloomberg Television's Trish Regan today and opened up about Mohamed El-Erian's departure and reflects on his personal role at the company.

Gross explained he was "extremely disappointed" in El-Erian reluctance to speak up and explain why he resigned: "He hasn't spoken up, and that's a mystery to us and quite frankly an extreme disappointment....He simply said that he wasn't the man to take the company forward. And he constantly repeated that without explaining it."

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Companies

Monday, March 31, 2014

Alibaba IPO Is Going to be Huge / Companies / Corporate News

By: Money_Morning

Kyle Anderson writes: There's still no official date set for the Alibaba IPO, but that hasn't stopped analysts and investors from speculating about the size of the company's initial public offering.

Alibaba IPOAccording to some analysts, the Alibaba IPO could raise almost as much as Facebook Inc.'s (Nasdaq: FB) 2012IPO, which raised $16 billion.

Read full article... Read full article...

 


Companies

Wednesday, February 19, 2014

Why EBay, PayPal Split is a Bad Move / Companies / Corporate News

By: Bloomberg

John Donahoe, CEO of eBay, spoke with Bloomberg Television's Trish Regan and Matt Miller about investor Carl Icahn's proposal that the company's PayPal online payments unit be split off and EBay's competition and strategy.

On how eBay and PayPal can be most successful, Donahoe said: "I continue to believe the best way is together, that eBay makes PayPal stronger. And it makes PayPal stronger by helping it grow faster, it provides more data, and it provides a strong financial foundation that will ultimately make PayPal more successful as part of eBay than separate."

Read full article... Read full article...

 


Companies

Tuesday, January 07, 2014

Why AAON Should Be a Case Study in Business Schools / Companies / Corporate News

By: Profit_Confidential

Mitchell Clark writes: In the pursuit of reliability and consistency in business performance, AAON, Inc. (AAON) came through once again by reporting another record quarter.

I’m absolutely convinced that any equity market portfolio is well served by having at least some exposure to what I refer to as “old economy” types of businesses. AAON is a Tulsa, Oklahoma-based company that manufactures and sells heating, ventilation, and air conditioning (HVAC) equipment to industrial customers.

Read full article... Read full article...

 


Companies

Tuesday, December 17, 2013

This Is How You Win a Billionaires' Brawl - True Story / Companies / Corporate News

By: Money_Morning

Shah Gilani writes: There's a lucrative new trading "set-up" a lot of investors are using now. But unlike classic approaches, like "don't fight the Fed," and "the trend is your friend," there are no rules on how to play this new game.

So let's change that today.

This is the true story about two billionaires' egos, their trading games, and what happens when they clash over the same stock.

Read full article... Read full article...

 


Companies

Friday, October 11, 2013

Costco Membership Drop an Irksome Sign of Consumer Pullback / Companies / Corporate News

By: Profit_Confidential

Mitchell Clark writes: If there’s one company that has been a stalwart wealth creator on the stock market it’s Costco Wholesale Corporation (COST).

The company’s been on a roll since the mid-2000s, and up until recently, it reported excellent financial growth in its operations. But its most recent quarterly earnings came in shy of expectations and were a surprise for those who follow the business.

Read full article... Read full article...

 


Companies

Sunday, September 15, 2013

The Most Dangerous Secret of Corporate America / Companies / Corporate News

By: Investment_U

Paul Mampilly writes: If you own stocks, chances are good you're being scammed by one of corporate America's biggest secrets.

It's very hard to learn unless you've seen it up close... unless you've shaken its hand.

Over my 20-plus years as a portfolio manager and stock analyst, I was exposed to this secret dozens of times. And it scared the hell out of me.

Read full article... Read full article...

 


Politics

Thursday, May 30, 2013

How Big Corporations Are Destroying the "Free Market" / Politics / Corporate News

By: Money_Morning

Garrett Baldwin writes: As an economist, I wince whenever I hear someone say that we live in a true free market.

The reality is we live in a semi-free market where regulation stifles business and corporate money influences and distorts what would normally be a highly competitive marketplace.

And over the last two decades, the situation has only gotten worse for consumers, producers, and defenders of the so-called "free market."

Read full article... Read full article...

 


Companies

Wednesday, May 08, 2013

The Warren Buffett House of Cards / Companies / Corporate News

By: BATR

Now that the financial hype is celebrating a new all time high in the stocks, the time to exit the market may well be at hand. So what will that Oracle of Omaha do with all the insider information available from his compadre network? The business press swoons all over Warren Buffett with every report, while only a few intrepid journalists would dare write about the dark side of Wall Street’s favorite equity cheerleader. The guru of sweet heart deals floats in the rarified air of a political cronyism ongoing honeymoon. So what is likely for his Berkshire Hathaway flagship company now that the ticker is breathing on pure oxygen?

Read full article... Read full article...

 


Companies

Thursday, January 31, 2013

Looking for the “Herbal” in Herbalife / Companies / Corporate News

By: Vitaliy_Katsenelson

Months before the recent Sturm und Drang surrounding nutritional-supplement maker Herbalife, my firm took a long, hard look at the company. On the surface it was a value investor’s dream: great balance sheet, high return on capital, high revenue and earnings growth, and attractive valuation. Of course, there was one problem: The validity of its multilevel marketing (MLM) pyramid structure was being questioned by some investors.

Read full article... Read full article...

 


Companies

Monday, January 21, 2013

Don't Get Suckered by the Boeing Media Frenzy, Instead Potential Buying Opportunity / Companies / Corporate News

By: Money_Morning

Look for a chance to buy Boeing now.

You heard me right.

As someone who worked in the news business for nearly three decades, I've seen these kinds of media "feeding frenzies" take hold more times than I can count. They take on a life of their own - meaning that facts, logic and context can fall by the wayside.

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Companies

Friday, November 16, 2012

Corporations Making a Huge Mistake, Destroys More Value Than the Government Ever Could / Companies / Corporate News

By: DailyWealth

Best Financial Markets Analysis ArticleDan Ferris A few weeks ago, I called Apple...

I spoke to an investor relations person about the company's massive cash hoard. She confirmed Apple has $121.3 billion in cash and securities on its balance sheet... Of that amount, a "substantial portion" of the company's cash is "indefinitely reinvested" in accounts outside the U.S.

Read full article... Read full article...

 


Companies

Friday, October 12, 2012

Is Wal-Mart's Bluebird Brilliant or an Invitation to the Slippery Slope? / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleKeith Fitz-Gerald writes: Don't look now, but Wal-Mart is getting into the banking business.

The retail giant has recently teamed up with American Express to offer a new account called the "Bluebird." Typical of the famed discounter, the account offers customers no minimum monthly balance requirements, no monthly maintenance fees, no annual fees, and no activation fees.

Read full article... Read full article...

 


Companies

Tuesday, August 07, 2012

The Real Story Behind the Knight Capital Trading Fiasco / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleShah Gilani writes: Oh, you are going to love this.

That whole Knight Capital fiasco last Wednesday, when a software glitch caused them to flood the market with thousands of unintended orders, it ain't exactly what you think it is.

Sure, they tripped over themselves in the dark pool where they were trying to compete.

Read full article... Read full article...

 


Companies

Thursday, May 31, 2012

Facebook IPO Was a Success and Wall Street Got What It Deserved / Companies / Corporate News

By: Vitaliy_Katsenelson

Being politically correct has never been my strongest quality; therefore I’ll say this: I don’t feel sorry for Facebook’s new shareholders. Despite Nasdaq technical glitches and analysts sharing changes in estimates for the near quarter only with big clients, the Facebook initial public offering (IPO) was a success.

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Companies

Thursday, May 17, 2012

Facebook IPO Facts - The Good, The Bad and The Ugly / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleShah Gilani writes: Face it, you want it. It seems that everyone wants a piece of the Facebook IPO.

But, can you handle the truth? Will the hyped sensationalism be a boon or a boondoggle?

I'm not going to tell you what to do, whether you should buy Facebook sooner rather than later. That's up to you.

Read full article... Read full article...

 


Companies

Monday, May 14, 2012

When an Airline Buys an Oil Refinery / Companies / Corporate News

By: EconMatters

Best Financial Markets Analysis ArticleThe biggest news in the airline sector of late is probably the announcement by Delta Airlines to buy a Phillips 66 refinery in Trainer, PA.  Delta will pay $150 million for the 180,000 barrels per day (bpd) facility, spend an additional $100 million to upgrade the plant, and get $30 million in state subsidies for infrastructure and to create jobs.

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Companies

Monday, April 16, 2012

The Antitrust Curse: What Apple Can Learn From Microsoft and IBM / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleDavid Zeiler writes: On the surface, it would appear that Apple Inc. (NASDAQ: AAPL) has little to fear from the antitrust lawsuit filed by the U.S. Department of Justice last week.

The DOJ accused Apple of colluding with several major publishers to fix the prices of electronic books in its iBookstore.

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Companies

Friday, April 13, 2012

Is JPMorgan About to Crash Delta Airlines? / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleKeith Fitz-Gerald writes: The devil is in the details.

That's what I thought when I read that Delta Airlines (NYSE: DAL) may be hopping into bed with JPMorgan Chase (NYSE: JPM).

According to various reports, Delta is in talks to purchase the idled "Trainer" refinery facility in Philadelphia with assistance from JPMorgan Chase as its financier.

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Companies

Tuesday, February 28, 2012

TATA Motors (NYSE: TTM): Can Momentum Be Sustained in 2012? / Companies / Corporate News

By: Yiannis_G_Mostrous

Tata Motors (NYSE: TTM) posted solid numbers in its most recent quarter largely because of the performance of its Jaguar Land Rover (JLR) division. JLR produced EBITDA (earnings before interest, taxes, depreciation and amortization) of around USD1.2 billion, with volumes up almost 37 percent year over year as the result of strong sales of Range Rover’s new Evoque model.

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Companies

Wednesday, February 22, 2012

What Are The Major Concerns of Company Chairmen and CEOs? / Companies / Corporate News

By: DK_Matai

At our most recent “Global Dynamics Roundtable” distinguished Chairmen and CEOs of key strategic organisations belonging to The ATCA 5000 expressed eight major concerns:

1. Fuel Price Risk -- Price of oil could rocket to USD 150 per barrel or higher causing global demand to crash, derailing the nascent world economic recovery;

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Companies

Thursday, February 02, 2012

Carnival After the Costa Concordia Disaster, Buy, Sell or Hold? / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleJack Barne writes: Carnival Corp. (NYSE: CCL) is the world's largest provider of vacation cruises operating under the names Carnival Cruise Lines, Holland America Line, Princess Cruises, and Seabourn in North America; and AIDA Cruises, Costa Cruises, Cunard, Ibero Cruises, and P&O Cruises in Europe, Australia, and Asia.

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Companies

Thursday, December 22, 2011

End Your Exposure to this Eurozone Debt Crisis Victim / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleJack Barnes writes: Around this time last year I warned you that the Eurozone debt crisis would trample the Italian economy and take carmaker Fiat S.p.A. (PINK: FIATY) down with it.

To profit from this debacle, I told you to short Fiat. Since then, the stock has tumbled 76%, from $19 a share to yesterday's (Wednesday's) closing price of $4.66.

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Companies

Wednesday, November 23, 2011

Don't Let the Active IPO Stock Market Fool You / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleDavid Zeiler writes: Although last week was the most active for the initial public offering (IPO) market since 2010, don't expect it to be the start of a sustained wave of IPOs and a rally among volatile U.S. stocks.

Encouraged by Groupon Inc.'s (NYSE: GRPN) successful IPO Nov. 5 as well as the October rebound in the stock markets, eight stocks went public last week. They include such well-known names as Angie's List Inc. (Nasdaq: ANGI) and Delphi Automotive PLC (NYSE: DLPH).

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Companies

Tuesday, November 01, 2011

Regulators Searching MF Global for Millions in Missing Customer Funds / Companies / Corporate News

By: Jesse

Do you know where your account funds or assets owned through ETFs really are?  Do the regulators and overseers of the markets?  Do they care, or just look the other way?

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Companies

Friday, June 10, 2011

A Brief View: Some Of Wall Street’s Big Players / Companies / Corporate News

By: LiveCharts

Today Wall Street celebrates an abrupt end to the declines across all markets. Mainly this was due to the increase in exports that were reported, however many commentators had stating it was due a bounce at some point. With that bounce in mind let’s take some time to review a few of our favorite big fish and their statistics.

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Companies

Sunday, June 05, 2011

The Next Stock Market Bubble is Forming Right Now / Companies / Corporate News

By: Jared_Levy

Best Financial Markets Analysis ArticleThe mass media is obsessed with bubbles. They see market bubbles everywhere, like in crude oil, soft commodities or China... Granted, there are some serious issues with all three, especially with China and its consumption of the other two.

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Companies

Thursday, April 07, 2011

Will The Internet Play An Increasing Role In Corporate Governance? / Companies / Corporate News

By: Submissions

Ian R. Campbell writes: I received an e-mail a few days ago from a Stock Research Portal subscriber who obviously had spent time researching my work history and reading my daily commentaries.  His e-mail dealt with the proposed Plan of Arrangement (the 'Plan') announced March 14 pursuant to which Century Mining Corp. ('Century') shareholders would exchange their shares for shares of White Tiger Gold Ltd. ('White Tiger').  About the Plan, he said:  "We as minor shareholders need some credible press on this and since I have been reading your writing for a couple years, I trust you to take a real look past the surface, at the truth.  Ian, its not right, its not fair and I am trying to do something about it, will you help".

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Companies

Monday, April 04, 2011

Toyota Motor Corp Needs to Rebuild from Supply Chain Collapse / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleJack Barnes writes: Toyota Motor Corp. (NYSE ADR: TM), one of the largest manufacturing companies in the world, has offered strong periods of growth from which investors have profited.

However, today it is a "Sell" - and is likely headed toward a long-term redevelopment of its core company structure (**).

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Companies

Sunday, April 03, 2011

Buffettgate: Berkshire Hathaway's Problem at the Top / Companies / Corporate News

By: Janet_Tavakoli

Best Financial Markets Analysis ArticleSuppose I took a call from a banker-friend at Citigroup on December 13, 2010, and he informed me that he had just observed other Citi bankers meeting with David Sokol, an executive of Berkshire Hathaway and possible successor to Warren Buffett, the CEO. He discovered Sokol expressed interest in a company called Lubrizol and requested a meeting with the company's president.

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Companies

Tuesday, March 29, 2011

U.S. Companies Spending Record-High Cash Piles On Everything But Jobs / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleKerri Shannon writes: U.S. companies have started to spend their record high piles of cash, but most won't be using it to boost hiring.

Since the credit crisis, U.S. companies have collected about $940 billion in cash. Per-share profit surged 36% in 2010, the biggest jump since 1988, and companies cut capital expenditures 26% in 2009 to compensate for the ailing economy.

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Companies

Friday, March 11, 2011

Amazon Threatened by Sales Tax Dilemma / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleDavid Zeiler writes: If state legislatures across the country get their way, Amazon.com Inc.'s (Nasdaq: AMZN) 16-year holiday from collecting sales tax will come to an end - with unpleasant consequences for the online retailer.

The U.S. Supreme Court in 1992 established that only retailers with a physical presence (called "nexus") in a given state are required to collect a sales tax from their patrons. But with state budgets being squeezed, more and more legislatures are trying to rope in online retailers - especially Amazon, a company that was specifically engineered to profit from the Supreme Court's ruling.

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Companies

Thursday, December 16, 2010

U.S. Companies Hoarding $1.93 Trillion in Cash / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleDon Miller writes: U.S. corporations are piling up cash at the fastest rate in half a century. But instead of signaling a new wave of spending, that cash pile may mean tough times ahead.

Non-financial companies in the United States had stacked up $1.93 trillion in cash and other liquid assets at the end of September, up from $1.8 trillion at the end of June, the U.S. Federal Reserve said Thursday. Cash made up 7.4% of the companies' total assets -the largest chunk since 1959.

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Companies

Tuesday, December 14, 2010

A Bitter Coffee Divorce: Kraft v. Starbucks / Companies / Corporate News

By: Dian_L_Chu

Best Financial Markets Analysis ArticleWhen a corporate partnership deal turns sour, it has every bit of the drama as a high profile Hollywood celebrity divorce. The verbal clashes between Starbucks (SBUX) and Kraft (KFT) have been escalating over the past month or so. Then, after a failed private resolution (Starbucks offered Kraft $750 million in August), on Monday Dec. 6, Kraft took the fight to court seeking an injunction to stop Starbucks from unwinding a 12-year partnership.

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ConsumerWatch

Tuesday, November 23, 2010

The Cadmium Curse of Coca-Cola / ConsumerWatch / Corporate News

By: Pravda

Coca-Cola is withdrawing 22,000 collectible glasses from the US market. The paint, which the world's larges producer of soft drinks used for its glasses, contained toxic cadmium. The concentration of the cancerous substance is very insignificant; it does not pose any danger to consumers, company officials claim.

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Companies

Wednesday, September 29, 2010

The Lights Have Officially Gone Out In the US / Companies / Corporate News

By: Graham_Summers

Here’s a news story that summates the US economy’s problems rather well:

The last major GE factory making ordinary incandescent light bulbs in the United States is closing this month, marking a small, sad exit for a product and company that can trace their roots to Thomas Alva Edison's innovations in the 1870s.

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Companies

Wednesday, September 22, 2010

Toyota's Troubles Double as China Threatens Action / Companies / Corporate News

By: Pravda

Best Financial Markets Analysis ArticleMisfortunes of Japanese automaker Toyota Motor Corp continue. Chinese authorities are threatening to fine the group for bribing dealers. The company, providing cheap loans to three of its dealers, forced them to issue loans to buyers not through the banks of the country, but directly through Toyota. The amount of the fine is 140 thousand Yuan ($20 thousand 650). Damages will amount to 426.3 thousand Yuan ($65 thousand 500).

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Companies

Thursday, September 09, 2010

HP Is Right To Sue Mark Hurd / Companies / Corporate News

By: Dian_L_Chu

Hewlett-Packard Co. slapped Mark Hurd, the CEO it ousted last month, with a law suit soon after rival Oracle Corp. named Hurd as Co-president and Director. HP claims that Hurd cannot perform his job at Oracle without violating a confidentiality agreement. 

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Companies

Wednesday, August 18, 2010

In Defense of the Hewlett Packard Board to Vote Out Mark Hurd / Companies / Corporate News

By: Static_Chaos

Best Financial Markets Analysis ArticleThe HP board has taken a lot of heat for their decision to vote out CEO and Chairman Mark Hurd. But the HP board had no other choice in the matter. Some of the confusion surrounding the Mark Hurd saga is the fact that the media is looking for some bigger story than there actually is, after all, controversy sells in their business. Moreover, Mark Hurd who is trying to conduct spin and damage control to save his future corporate career is making a pretty clear cut, necessary, and deserved firing look more mysterious than it actually is. This is a no-brainer, and every board, including Larry Ellison`s would have come to the same conclusion: namely, Mark Hurd had to go.

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Companies

Sunday, August 15, 2010

Hewlett Packard's Hurd Crisis Creates A Value Investment Play / Companies / Corporate News

By: Dian_L_Chu

Best Financial Markets Analysis ArticleHewlett-Packard Company (HPQ) has had a bad week since the announcement that Mark Hurd was resigning. HPQ stock is currently sitting at $40.40, just off the 52 week low of $39.95 established on Thursday after Cisco`s CEO John Chambers gave tempered guidance for the tech bellwether. (See chart)

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Companies

Thursday, July 01, 2010

The Surprising Opportunity behind Tesla Motors IPO / Companies / Corporate News

By: Q1_Publishing

Best Financial Markets Analysis ArticleThere are few sectors as volatile, risky, yet as potentially lucrative, than initial public offerings (IPOs).

Every time a company turns to the public markets to raise cash, it’s either a boom or bust. Very rarely are they ever just flat.

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Companies

Tuesday, June 22, 2010

China’s Foxconn Will Hurt the Global Economy More Than the BP Oil Spill / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleMartin Hutchinson writes: Before this month, chances are pretty good that you'd never even heard of Taiwan's Foxconn International Holdings (PINK ADR: FXCNY). And yet, Foxconn is one of the world's most important manufacturers.

Given that the formerly anonymous giant is now at the forefront of the zooming escalation in labor costs that's currently taking place in Mainland China - and given the enormous implications of the inflationary pressures that will result - chances are excellent that Foxconn will have a bigger effect on the world economy this year than even BP PLC (NYSE ADR: BP).

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Politics

Thursday, May 06, 2010

The Oil Slick Cover-up: BP's Crude Politics and the Looming Environmental Mega-Disaster / Politics / Corporate News

By: OilPrice_Com

Best Financial Markets Analysis ArticleWe have been informed by sources in the US Army Corps of Engineers, Federal Emergency Management Agency (FEMA), and Florida Department of Environmental Protection that the Obama White House and British Petroleum (BP), which pumped $71,000 into Barack Obama's 2008 presidential campaign -- more than John McCain or Hillary Clinton, are covering up the magnitude of the volcanic-level oil disaster in the Gulf of Mexico and working together to limit BP's liability for damage caused by what can be called a "mega-disaster."

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Companies

Wednesday, April 14, 2010

iPad Proves It’s Not What Apple Sells, It’s How Apple Sells It / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleKerri Shannon writes: Apple Inc.'s (Nasdaq: AAPL) iPad has lived up to the hype, garnering rave reviews and meeting sales expectations. That success is particularly impressive because previous attempts by other companies to launch similar products were met with abject failure.

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Companies

Saturday, January 23, 2010

Forbes Wins Domain Name Lawsuit Against Russian Travel Agency / Companies / Corporate News

By: Pravda

Forbes magazine won by court action the right for forbes.ru domain name. The magazine may now receive a record large compensation for the violation of trademark rights on the internet. The compensation can be the largest in Russia’s judicial practice, The Vedomosti newspaper wrote.

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Companies

Thursday, January 07, 2010

Buffett Reminds Wall Street That Shareholders Come First / Companies / Corporate News

By: Money_Morning

Best Financial Markets Analysis ArticleMartin Hutchinson writes: A decade ago, investing guru Warren Buffett helped torpedo a $15.3 billion Coca-Cola Co. (NYSE: KO) bid for Quaker Oats Cos., arguing that the terms were lousy and the proposed price way too high.

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Companies

Tuesday, December 15, 2009

Apple Declares War on Nokia / Companies / Corporate News

By: Pravda

Apple declared war on its European competitor, Nokia. Finland’s world-known cell phone maker previously sued Apple over the supposed use of its patents. In return Apple accused Nokia of plagiarism and the use of 13 of its technological developments.

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Companies

Sunday, September 06, 2009

Google Granted Patent for Home Page / Companies / Corporate News

By: Nadeem_Walayat

Google the arch sharer of everyone else's intellectual property is not so keen to share its own ideas as a patent of its home page was approved on 1st of September.

The patent filed 5 years ago specifically covers the 2004 home page layout.

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Companies

Tuesday, July 28, 2009

SKY Broadband Is a Joke, Real Speed 1/10th Advertised / Companies / Corporate News

By: Nadeem_Walayat

Ofcom has today published the results of speed tests across Britians broadband suppliers that reveals that all broadband suppliers fall short against advertised speeds, where typical speeds tend to average at LESS than half that advertised. However real consumer speeds tend to fall further far short as Ofcom's speed test ignored the impact of wireless home networks run off of broad supplier routers, which can result in a further degradation of service.

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Companies

Saturday, July 04, 2009

British Telecom Offers Staff a Year Off Work at 25% of Pay / Companies / Corporate News

By: Nadeem_Walayat

The recession is forcing British Telecom, Britians largest telecom provider to offer some of its staff the option of taking a year off work at 25% of full time pay, as an alternative to further redundancies in an attempt to cut costs and ride out the recession which follows a heavy first quarter loss of £1.3 billion, with similar projected loss for the 2nd Quarter of 2009.

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Companies

Tuesday, June 23, 2009

Kodak to Take Kodachrome Away / Companies / Corporate News

By: Mike_Shedlock

The Wall Street Journal is reporting Kodak to Take Kodachrome Away.

Kodachrome, the storied camera film that has documented historic events and everyday lives since the Great Depression, is about to fade into oblivion.
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Companies

Tuesday, June 02, 2009

GM’s Bankruptcy and Changes to the Dow Jones Stock Market Index / Companies / Corporate News

By: Money_and_Markets

Best Financial Markets Analysis ArticleNilus Mattive writes: The bankruptcy of General Motors isn’t surprising … in fact, Martin repeatedly warned Money & Markets readers — for years — that it was coming.

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Companies

Wednesday, May 20, 2009

Breaking Market News: General Electric (GE), Verizon Communications (VZ), American Express (AXP), Bank of America (BAC) / Companies / Corporate News

By: Oakshire_Financial

Best Financial Markets Analysis ArticleGeneral Electric Co. (GE) says that it has no need to raise additional capital in the debt markets for the remainder of the year. Chief Executive Officer Jeff Immelt, who is head of the largest U.S. conglomerate, hinted that funding needs in 2010 could also be established within the year as well.

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Companies

Tuesday, April 28, 2009

Sirius Satellite Radio: Seriously Down and Going Lower / Companies / Corporate News

By: Mike_Stathis

Best Financial Markets Analysis ArticleIt’s a bit funny to see that the SIRI stock pumpers are still at it, despite facing nothing but absolute humiliation after making ridiculous claims and clinging onto their delusions of grandeur as the stock collapsed by over 95% after merger with XM.

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Companies

Tuesday, March 31, 2009

IBM's Secret Formula for Offshoring Jobs and Maximising Tax Breaks / Companies / Corporate News

By: Mike_Shedlock

Inquiring minds are noting IBM files for patent on offshoring jobs .
As IBM was firing thousands of American workers last week, the U.S. Patent and Trademark Office published Big Blue's application to copyright a computerized system that calculates how to offshore jobs while maximizing government tax breaks.

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Companies

Monday, November 17, 2008

Citigroups Survival in Doubt as 50,000 Jobs Cut / Companies / Corporate News

By: Captain_Hook

Best Financial Markets Analysis ArticleIn yet another round of massive financial layoffs, Citigroup plans to cut about 50,000 jobs .

Citigroup's layoffs are the latest in a brutal round of job cuts across the financial industry. The cuts have been sparked by unprecedented losses due to bad credit investments, as well as the subsequent precipitous drop in banking and other financial-services business amid the worst economic conditions in 70 years.

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News_Letter

Wednesday, September 24, 2008

Hedge Funds Drive Britain's Biggest Mortgage Bank Towards the Edge of Collapse / News_Letter / Corporate News

By: NewsLetter

September 17th , 2008 Issue #26 Vol. 2

Dear Reader,

Hedge funds over the last 3 days have been in relentless pursuit of Britain's biggest mortgage bank, Halifax Bank of Scotland (HBOS) as the next bank to be pushed over the credit crisis and housing bear market cliff, amidst an atmosphere of global defaults in the wake of Lehman's collapse on Sunday. In emergency action both sanctioned and sponsored by the Bank of England saw Lloyds TSB step in to buy the Bank before the Government was forced to step in and rescue the bank much as happened following the Northern Rock bust in September 2007. Only at that time the Bank of England in a huge unforgivable blunder that destroyed much of the central banks credibility, PREVENTED Lloyds TSB from taking over Northern Rock.

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Companies

Saturday, September 13, 2008

Boeing Under Pressure From Union Strike Action as Recession Looms / Companies / Corporate News

By: Mike_Shedlock

Going on strike just as the global economy is headed into a recession is simply not a good idea. But that is exactly what happened to Boeing. On September 6th Boeing Machinists Start Strike, Jeopardizing 787 Plan .
Sept. 6 (Bloomberg) -- Boeing Co.'s machinists went on strike today, seeking improved pay and job security as the planemaker benefits from record orders and tries to keep its 787 Dreamliner schedule from slipping further.

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Companies

Wednesday, August 06, 2008

S&P500 Corporations Board and Executive Compensation Payments / Companies / Corporate News

By: Richard_Shaw

Best Financial Markets Analysis ArticleExecutive compensation and board largess with high paid executives is a hot topic recently. That spurred us to look comprehensively at some factual comparative data on the total cost of boards of directors and top executive teams among the S&P 500 companies (proxy SPY or IVV).

For that purpose, we utilized the corporate governance database provided by The Corporate Library ( www.TheCorporateLibrary.com ) which tracks corporate actions, including executive compensation, and ranks public companies on several dimensions of corporate governance.

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Companies

Tuesday, July 29, 2008

Bennigan's Restaurant Chain Is Bankrupt, Faces Chapter7 Liquidation / Companies / Corporate News

By: Mike_Shedlock

The Wall Street Journal is reporting Bennigan's, Steak & Ale Close, File for Bankruptcy Protection .
National restaurant chains Bennigan's and Steak & Ale have closed their doors and filed for Chapter 7 bankruptcy protection, shuttering more than 300 locations and letting go of thousands of employees.

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Companies

Saturday, October 13, 2007

Deal to End UK Royal Mail Postal Strike / Companies / Corporate News

By: Sarah_Jones

Union and Royal Mail Management announced a deal on Friday that looks set to bring the highly damaging postal strike to an end that has seen chaos in the UK's postal system for near 2 weeks. However details of the deal have yet to be presented to the Unions Executive on Monday.

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ConsumerWatch

Monday, October 08, 2007

Asda Supermarket Milk Going Bad Early / ConsumerWatch / Corporate News

By: N_Walayat

In my experience over several weeks, the Milk being sold by Asda at its Sheffield store is consistently going off before the sell by date.

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Companies

Sunday, October 07, 2007

Citibank £10billion Loan Facility and Potential Take Over of Northern Rock Bank / Companies / Corporate News

By: Phillipa_Green

Citibank in prelude to a potential take over bid for Northern Rock bank agreed to provide the troubled bank with a £10 billion loan facility.

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ConsumerWatch

Wednesday, March 28, 2007

Whistleblower reveals car giant Renault's cover-up to Watchdog / ConsumerWatch / Corporate News

By: Sarah_Jones

Car manufacturer Renault is tonight, accused by one of its own staff of deliberately downplaying a serious design fault that causes the bonnet of some cars to open while they're on the road.

In an interview for BBC One 's Watchdog – to be broadcast tonight at 7.30pm – the company's former PR manager Graeme Holt reveals he left Renault because of their handling of the issue.

"I think it's been disgraceful quite frankly," he told the programme. "It doesn't get more serious than putting your customers' lives in danger."

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Companies

Thursday, January 25, 2007

Ford car giant announces record loss of $12.7 billion / Companies / Corporate News

By: Phillipa_Green

Ford Motor Company, the once mighty car giant announced a slump in sales in the fourth quarter of 2006, resulting an a record loss of $5.8 billion, raising the year to date loss to $12,7 billion, by the far the largest in the companies 100 year history. Nearly doubling the previous record reported during the depths of the 1992 recession of $7 billion. The loss amounts to an estimated $2000 for every vehicle sold.

Ford car giant announces record loss of $12.7 billion

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Companies

Monday, September 25, 2006

Class Action suit hits Tobacco Companies / Companies / Corporate News

By: Shahla_Walayat

In a big blow to Tobacco companies, a federal judge on Monday granted class action status to tens of millions of "light cigarette" smokers for a potential $200 billion lawsuit against cigarette makers.

U.S. District Judge Jack Weinstein in Brooklyn made the ruling on a 2004 lawsuit that alleges Philip Morris, R.J. Reynolds Tobacco, Lorillard Tobacco Co. and other defendants duped smokers, and responded to consumers' mounting health concerns with a campaign of deception designed to preserve revenue.

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