Posted by Shirley Brady on September 7, 2011 06:25 PM
Yahoo stock rises after CEO ouster, as site explores options (though Jerry Yang says it's not for sale).
Saab files for bankruptcy protection — again.
Facebook doubles first-half revenue; adds high-profile Democrat to board; accused of violating click-fraud standards.
Apple earnings forecast raised 10%.
Best Buy launches online mall with other e-tailers.
ConAgra blogger backlash at NYC event shouldn't have come as a surprise.Continue reading...
Posted by Shirley Brady on September 6, 2011 08:55 AM
Amazon.com tests "more airy" website redesign, as delivery locker test with 7-Eleven looms.
Apple designer Jonathan Ive enters a new era, as iPhone 5 speculation mounts and brand announces first store in Hong Kong.
Baidu taps Dell for mobile push.
Bank of America shares decline (despite Warren Buffett's $5 billion injection) in tandem with global banks.
BMW tests 1,000 times brighter laser headlights.
Cantor Fitzgerald's post-9/11 recovery is in the spotlight this week.
Carlyle Group files for IPO.
Coca-Cola will invest $4 billion with Chinese bottling partners to spur China sales.Continue reading...
you never give me your money
Posted by Sheila Shayon on August 31, 2011 04:02 PM
One-quarter of the 100 highest-paid US CEOs' compensation last year surpassed the federal income tax paid by their companies.
Given America's staggering national debt, that statistic — from a new report by the Institute for Policy Studies — has touched off a firestorm led by Democratic Representative Elijah Cummings, ranking member of the Committee on Oversight and Government Reform, who called for hearings on executive compensation.
The IPS report on executive pay found the 2010 average compensation for those 25 execs was $16.7 million. Brands topping the list include:
* eBay, whose CEO John Donahoe made $12.4 million, but which reported a $131 million refund on its 2010 current U.S. taxes.
* Boeing, which paid CEO Jim McNerney $13.8 million, sent in $13 million in federal income taxes, and spent $20.8 million on lobbying and campaign spending.
* GE, where CEO Jeff Immelt earned $15.2 million in 2010, while the company got a $3.3 billion federal refund and invested $41.8 million in its own lobbying and political campaigns.
According to Reuters, Cummings has asked the committee "to examine the extent to which the problems in CEO compensation [have] led to the economic crisis,” and "why CEO pay and corporate profits are skyrocketing while worker pay stagnates and unemployment remains unacceptably high."Continue reading...
Posted by Dale Buss on August 29, 2011 01:58 PM
With his campaign to deprive incumbent politicians of corporate campaign contributions until they get the federal-debt issue right, Howard Schultz has certainly added to the increased noise by executives yammering about what's wrong with the American economy, and what to do about it. And at a time of continued economic distress -- including stubbornly high unemployment and the threat of a double-digit recession -- many CEOs aren't just talking. They're also putting -- or not putting -- their money and companies' resources where their mouths are.
Take Schultz and his simpaticos. “We’ve touched a nerve,” the Starbucks CEO said in an interview with TheWrap last week. "There’s such a groundswell of disappointment and concern with regard to the leadership in Washington and crisis of confidence that we have.” He called for a suspension of donations to all incumbents, including President Obama, and dozens of other CEOs have signed on to Schultz's pledge, including Tim Armstrong of AOL and Mickey Drexler of J. Crew. Schultz doesn't even want politicians on vacation until they get the nation back on a viable fiscal path.
But at the same time, another renowned CEO, Warren Buffett of Berkshire Hathaway, made a tacit -- but very clear -- expression of confidence in the Obama administration last week by plunking down $5 billion to invest in and help the Bank of America through a rough patch. The renowned financier also promised to hold a big fundraiser in New York next month for the beleaguered president, who at some point last week interrupted his Martha's Vineyard vacation to call Buffett, presumably to thank him for his support. Of the same accord seems to be a new TV advertisement by Midwestern stalwart Fifth Third Bank, which says, "We're not waiting for the economy to improve -- we're helping businesses to make it happen."Continue reading...
Posted by Dale Buss on August 1, 2011 09:00 AM
Markets rally as Sunday night's U.S. debt limit deal goes before Congress for a vote today as Twitter explodes over deal.
Airbnb investor suggests ransacked woman is lying.
Al Jazeera English launches in New York.
Ambassador Coffee brand changes hands.
Apple wins dispute over iPods.com domain.
Bank of America hit with new Countrywide lawsuit.
Bloomberg Businessweek to hike paid circulation.Continue reading...
Posted by Dale Buss on July 26, 2011 09:00 AM
Airbnb fetches $1 billion initial value.
Bentley ponders adding SUV.
Borders sees talks to save a few dozen stores fail.
Credit Suisse eyes layoffs.
EA Sports taps into college-football devotion.
Ford reports profit dip due to cost pressures.
GE moves its x-ray headquarters to China.Continue reading...
Posted by Dale Buss on July 22, 2011 09:00 AM
Apple hints at what it might do with some of its cash: buy Hulu.
Applebee’s implements new Facebook strategy.
Cheesecake Factory boosts menu prices to combat higher costs.
GE quarterly profits rise as finance arm continues to recover from recession.
Google grabs 20 million users with Google+.
NFL players reportedly have reservations about the new collective-bargaining agreement that kept them from approving it on Thursday after the league’s owners had OK’ed the tentative deal.
Reebok kicks off new marketing campaign.Continue reading...
Posted by Shirley Brady on July 21, 2011 06:00 PM
Apple exceeds one million Lion downloads on first day.
Borders liquidation plan approved by judge, while 11th hour Books-A-Million offer may save up to 30 stores, as employees start Google+ group.
California Milk Processor Board pulls controversial PMS campaign.
Etsy founder steps aside for new CEO.
Facebook Comments add videos, photos and website previews.
Fiat buys up US government stake in Chrysler.
Ford and Chevrolet will enhance NYC taxi fleet.Continue reading...