DailyFinance http://www.dailyfinance.com DailyFinance http://www.blogsmithmedia.com/http://www.dailyfinance.com/media/feedlogo.gif DailyFinance http://www.dailyfinance.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/Ex-college player: Removing helmets from NFL won't stop concussionshttp://www.dailyfinance.com/2009/11/15/an-injured-ex-players-take-removing-helmets-from-the-nfl-wont/http://www.dailyfinance.com/2009/11/15/an-injured-ex-players-take-removing-helmets-from-the-nfl-wont/http://www.dailyfinance.com/2009/11/15/an-injured-ex-players-take-removing-helmets-from-the-nfl-wont/#commentsFiled under: ,

This may come to no surprise to many of you that have read my work as a financial writer, but I am what my wife calls a "walking head injury." I played football from the age of six until 19, when I was told my college football career had to end -- more on that in a minute.

Having gotten my bell rung many times in my youth, I was taken aback by a recent article in The Wall Street Journal suggesting it may be time to retire the football helmet as we know it. Leagues overseas have been trying this as a way to -- this may sound counterintuitive -- reduce concussions and other injuries. But I don't see playing helmet-less as a solution for the National Football League (NFL).

Continue reading Ex-college player: Removing helmets from NFL won't stop concussions

Ex-college player: Removing helmets from NFL won't stop concussions originally appeared on DailyFinance on Sun, 15 Nov 2009 12:00:00 EST. Please see our terms for use of feeds.

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]]>Australian footballAustralianFootballconcussionsfootballfootball helmetfootball night in americaFootballHelmetFootballNightInAmericahead injuryHeadInjuryhelmetjohn maddenJohnMaddennational football leagueNationalFootballLeagueNFLriddellRoger GoodellRogerGoodellMark FightmasterSun, 15 Nov 2009 12:00:00 ESTDole goes public, but Wall Street doesn't go bananashttp://www.dailyfinance.com/2009/10/23/dole-goes-public-but-wall-street-doesnt-go-bananas/http://www.dailyfinance.com/2009/10/23/dole-goes-public-but-wall-street-doesnt-go-bananas/http://www.dailyfinance.com/2009/10/23/dole-goes-public-but-wall-street-doesnt-go-bananas/#commentsFiled under: , , ,

In Dole Food Co.'s (DOLE) initial public offering on the New York Stock Exchange today, shares came in below their forecast range. The fruit conglomerate raised $446 million, selling 35.7 million shares at $12.50, giving the company a value of $1.09 billion, but the an October 9 filing had anticipated an IPO ranging from $13 to $15.

Dole plans to use the proceeds to repay $451 million in debt, along with a $17 million prepayment penalty. Dole also priced $300 million of convertible securities at $12.50 each.

Continue reading Dole goes public, but Wall Street doesn't go bananas

Dole goes public, but Wall Street doesn't go bananas originally appeared on DailyFinance on Fri, 23 Oct 2009 14:10:00 EST. Please see our terms for use of feeds.

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]]>bank of americaBankOfAmericachiquitaDavid MurdockDavidMurdockdeutsche bankDeutscheBankDoleDole FoodsDoleFoodsfresh del monteFreshDelMontegoldman sachsGoldmanSachsinitial public offeringInitialPublicOfferingIPOwells fargoWellsFargoMark FightmasterFri, 23 Oct 2009 14:10:00 ESTNew Jersey Nets may soon have a foreign ownerhttp://www.dailyfinance.com/2009/09/24/new-jersey-nets-may-soon-have-a-foreign-owner/http://www.dailyfinance.com/2009/09/24/new-jersey-nets-may-soon-have-a-foreign-owner/http://www.dailyfinance.com/2009/09/24/new-jersey-nets-may-soon-have-a-foreign-owner/#commentsFiled under:

One of the worst teams in the National Basketball Association (NBA) is now going to cause wailing and gnashing of teeth overseas, as the New Jersey Nets are about to be purchased by Russian billionaire Mikhail Prokhorov.

On Wednesday, Prokhorov announced that he has a deal to purchase 80 percent of the Nets, along with almost half of a project to build a new basketball arena for them in Brooklyn. The deal would make Prokhorov the first non-North American owner in the NBA.

Continue reading New Jersey Nets may soon have a foreign owner

New Jersey Nets may soon have a foreign owner originally appeared on DailyFinance on Thu, 24 Sep 2009 13:00:00 EST. Please see our terms for use of feeds.

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]]>Atlantic YardsAtlanticYardsBrooklynBruce RatnerBruceRatnerDodgersMikhail ProkhorovMikhailProkhorovNew Jersey NetsNewJerseyNetsMark FightmasterThu, 24 Sep 2009 13:00:00 ESTWWE CEO Linda McMahon resigns to lay a smackdown on the U.S. Senatehttp://www.dailyfinance.com/2009/09/16/wwe-ceo-linda-mcmahon-resigns-to-lay-the-smackdown-on-the-u-s-s/http://www.dailyfinance.com/2009/09/16/wwe-ceo-linda-mcmahon-resigns-to-lay-the-smackdown-on-the-u-s-s/http://www.dailyfinance.com/2009/09/16/wwe-ceo-linda-mcmahon-resigns-to-lay-the-smackdown-on-the-u-s-s/#commentsFiled under:

Things are about to get real interesting up in Connecticut. World Wrestling Entertainment (WWE) has announced that CEO Linda McMahon is resigning in order to run for Connecticut's U.S. Senate seat. Yes ladies and gents, it appears that the McMahon family is aiming to add a senator to its roster. Her husband, WWE Chairman Vince McMahon is going to take over the CEO position. Perhaps this will keep Vince out of the wrestling action and behind the cameras a bit more.

Linda McMahon believes that Washington is "out of control" and that Democratic Sen. Chris Dodd has "lost his way and our trust." Considering that Linda McMahon is going to fight with three other Republicans for the seat, we could see a bit of a battle royale shaping up -- or is it a cage match? If she wins, can you picture her acceptance press conference? Imagine: lowered lights, a smoke machine, strobes, and Mrs. McMahon emerging from behind a rhinestone-studded curtain to the rampaging strains of some heavy metal song. That would sure make things a bit more interesting. Perhaps the Rock will walk out and announce, "Finally, the McMahons have come back to Washington." Or Shawn Michaels and Triple H could come out and do their typical D-Generation X introductions (which are a bit too risque to go into here). One thing is certain, this is going to be fun.

Continue reading WWE CEO Linda McMahon resigns to lay a smackdown on the U.S. Senate

WWE CEO Linda McMahon resigns to lay a smackdown on the U.S. Senate originally appeared on DailyFinance on Wed, 16 Sep 2009 16:20:00 EST. Please see our terms for use of feeds.

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]]>20102010 elections2010Electionschris doddChrisDoddconnecticutdoddelectionLinda McMahonLindaMcmahonMcMahonRockSenateThe RockTheRockU.S. SenateU.s.SenateVince McMahonVinceMcmahonworld wrestling entertainmentWorldWrestlingEntertainmentwweMark FightmasterWed, 16 Sep 2009 16:20:00 ESTYankees to lower some ticket prices next yearhttp://www.dailyfinance.com/2009/09/16/yankees-to-lower-some-ticket-prices-next-year/http://www.dailyfinance.com/2009/09/16/yankees-to-lower-some-ticket-prices-next-year/http://www.dailyfinance.com/2009/09/16/yankees-to-lower-some-ticket-prices-next-year/#commentsFiled under:

Sports business reporter Darren Rovell at CNBC reported on September 15 that the New York Yankees are releasing their ticket prices for season ticket holders. The report notes that more than 80 percent of the tickets at Yankee Stadium will remain the same, but those able to afford the most expensive seats at the stadium are going to get a bit of a break.

Rovell reports that some of the most expensive seats will see as much as 40 percent reductions -- with seats behind home plate being cut to $235 or $250 from their current $325.

Continue reading Yankees to lower some ticket prices next year

Yankees to lower some ticket prices next year originally appeared on DailyFinance on Wed, 16 Sep 2009 12:20:00 EST. Please see our terms for use of feeds.

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]]>baseballBoston Red SoxBostonRedSoxbusiness of sportsBusinessOfSportsDarren Rovellmajor league baseballMajorLeagueBaseballNew York YankeesNewYorkYankeesticket pricesTicketPricesticketsMark FightmasterWed, 16 Sep 2009 12:20:00 ESTObama's economy speech: Can he sell optimism to a pessimistic public?http://www.dailyfinance.com/2009/09/14/obamas-economy-speech-can-he-sell-optimism-to-a-pessimistic-pu/http://www.dailyfinance.com/2009/09/14/obamas-economy-speech-can-he-sell-optimism-to-a-pessimistic-pu/http://www.dailyfinance.com/2009/09/14/obamas-economy-speech-can-he-sell-optimism-to-a-pessimistic-pu/#commentsFiled under: ,

The financial sector is well on its way to recovery, right? After all, it has been a year since Wall Street almost collapsed, and the government is now ready, willing, and able to stop such a situation from happening again. President Obama and Congress are telling us that everything is moving in the right direction -- so Americans must be feeling more confident about the economic future, right? Wrong.

According to a new Associated Press-GfK poll, seven out of 10 Americans do not believe the government has taken the proper safeguards to keep last September's horrors from repeating. Furthermore, 80 percent of those polled feel the economy is in poor shape -- and members of this group worry that they may not be able to keep their heads above water.

Continue reading Obama's economy speech: Can he sell optimism to a pessimistic public?

Obama's economy speech: Can he sell optimism to a pessimistic public? originally appeared on DailyFinance on Mon, 14 Sep 2009 11:40:00 EST. Please see our terms for use of feeds.

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]]>economic confidenceeconomic stimulusEconomicConfidenceEconomicStimulusPresident ObamaPresidentObamastimulus packagestimulus planStimulusPackageStimulusPlanMark FightmasterMon, 14 Sep 2009 11:40:00 ESTTech billionaire Tom Siebel survives an elephant attackhttp://www.dailyfinance.com/2009/09/03/tech-billionaire-tom-siebel-survives-an-elephant-attack/http://www.dailyfinance.com/2009/09/03/tech-billionaire-tom-siebel-survives-an-elephant-attack/http://www.dailyfinance.com/2009/09/03/tech-billionaire-tom-siebel-survives-an-elephant-attack/#commentsFiled under: ,

So, what did you do on your summer vacation? This benign question is sure to be asked of students throughout the U.S. as they head back to school from their summer vacation. Well, Tom Siebel has a more interesting story than, "We went to the beach."

According to a yarn that Siebel spun for the San Jose Mercury News, he and a tour guide were attacked by an elephant during a safari in the Serengeti last month. Siebel and his guide were observing the elephant on safari when it decided to charge, attacking Siebel and his guide. Siebel, who created Seibel Systems software company, state, "It was all happening so fast. There was no place to hide, no place to run."

Continue reading Tech billionaire Tom Siebel survives an elephant attack

Tech billionaire Tom Siebel survives an elephant attack originally appeared on DailyFinance on Thu, 03 Sep 2009 14:00:00 EST. Please see our terms for use of feeds.

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]]>elephantelephant attackElephantAttackinjuriessafariTom SeibelTomSeibelMark FightmasterThu, 03 Sep 2009 14:00:00 ESTIs this the final nail in Dykstra's coffin?http://www.dailyfinance.com/2009/08/10/is-this-the-final-nail-in-dykstras-coffin/http://www.dailyfinance.com/2009/08/10/is-this-the-final-nail-in-dykstras-coffin/http://www.dailyfinance.com/2009/08/10/is-this-the-final-nail-in-dykstras-coffin/#commentsFiled under: ,

Looks like it is going to be a rough week for former baseball great Lenny "Nails" Dykstra. For those of you not familiar with the situation, Nails was a star outfielder for the New York Mets and Philadelphia Phillies who, in retirement, became an entrepreneur and investment guru of sorts.

Unfortunately, last month, thanks to what he called "bogus lawsuits," Dykstra declared bankruptcy. At the time, he listed less than $50,000 in assets and between $10 million and $50 million in debts.

Continue reading Is this the final nail in Dykstra's coffin?

Is this the final nail in Dykstra's coffin? originally appeared on DailyFinance on Mon, 10 Aug 2009 12:30:00 EST. Please see our terms for use of feeds.

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]]>bankruptcybaseballfailed businessfailed venutresFailedBusinessFailedVenutresfraudlawsuitsLenny DykstraLennyDykstraMLBMark FightmasterMon, 10 Aug 2009 12:30:00 ESTTopps is now the official baseball card of Major League Baseballhttp://www.dailyfinance.com/2009/08/06/topps-is-now-the-official-baseball-card-of-major-league-baseball/http://www.dailyfinance.com/2009/08/06/topps-is-now-the-official-baseball-card-of-major-league-baseball/http://www.dailyfinance.com/2009/08/06/topps-is-now-the-official-baseball-card-of-major-league-baseball/#commentsFiled under: ,

A former mainstay of childhood, baseball cards have long since become a meaningless historical footnote, occasionally garnering some small mention in the media when a family finds boxes of rare baseball cards hoarded in a deceased relative's attic. Personally speaking, the last time I purchased baseball cards I was upset because I kept getting Frank Pastore (1982 Reds) cards and not the Davey Concepcion I needed to complete my team collection.

In this context, today's announcement by the Major League Baseball (MLB) smacks of total irrelevance. The organization has announced that The Topps Company will become the exclusive manufacturer of baseball cards for the league. Topps signed a multi-year deal in order to end competition between card companies and potentially jump start the slumping industry. MLB hopes that having one official cardmaker will end the confusion caused by the multiple card manufacturers and seemingly endless series clogging up stores.

Continue reading Topps is now the official baseball card of Major League Baseball

Topps is now the official baseball card of Major League Baseball originally appeared on DailyFinance on Thu, 06 Aug 2009 15:40:00 EST. Please see our terms for use of feeds.

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]]>baseball cardsBaseballCardsbusiness of sportsBusinessOfSportsdonrussfleermajor league baseballMajorLeagueBaseballtoppsMark FightmasterThu, 06 Aug 2009 15:40:00 ESTMore layoffs: ADP and Challenger Gray & Christmas reports are inhttp://www.dailyfinance.com/2009/08/05/more-layoffs-adp-and-challenger-gray-and-christmas-reports-are-in/http://www.dailyfinance.com/2009/08/05/more-layoffs-adp-and-challenger-gray-and-christmas-reports-are-in/http://www.dailyfinance.com/2009/08/05/more-layoffs-adp-and-challenger-gray-and-christmas-reports-are-in/#commentsFiled under: ,

Plenty of job news is in this morning, starting with the Challenger Gray & Christmas layoff data. The firm announced that layoffs from major U.S. corporations increased by 31 percent in July to 97,373. This increase is the first since January, indicating that corporate layoffs are picking up after hitting a 15-month low in June. During the first seven months of the year, 994,048 workers have been laid off -- which is 72 percent higher than the same time last year.

So, how is that market rally coming? In this backwards economic climate, this report could be the impetus for a market rally; but it shows that the job picture is worse this year than it was at the same time last year -- when our economic situation was much worse, right?

Continue reading More layoffs: ADP and Challenger Gray & Christmas reports are in

More layoffs: ADP and Challenger Gray & Christmas reports are in originally appeared on DailyFinance on Wed, 05 Aug 2009 08:40:00 EST. Please see our terms for use of feeds.

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]]>economic crisiseconomic recoveryEconomicCrisisEconomicRecoveryeconomyemploymentemployment dataEmploymentDataunemploymentunemployment rateUnemploymentRateMark FightmasterWed, 05 Aug 2009 08:40:00 ESTSwish! Cablevision putting Madison Square Garden in the canhttp://www.dailyfinance.com/2009/07/30/swish-cablevision-putting-madison-square-garden-in-the-can/http://www.dailyfinance.com/2009/07/30/swish-cablevision-putting-madison-square-garden-in-the-can/http://www.dailyfinance.com/2009/07/30/swish-cablevision-putting-madison-square-garden-in-the-can/#commentsFiled under: ,

According to Bloomberg, an unidentified source reports that Cablevision (CVC) is getting ready to spin off its Madison Square Garden assets into a new company that will be called, oddly enough, Madison Square Garden. Cablevision stockholders will be given one share of the new company for every CVC share they own.

Madison Square Garden's assets would include the New York Knicks pro basketball team, Radio City Music Hall, the New York Rangers hockey team, and two New York-area sports networks. The wisdom of this move largely depends upon how much it charges consumers: if this is a free channel, then spinning it off will be a good move; on the other hand, if it is a premium channel, it could be a hard sell.

Continue reading Swish! Cablevision putting Madison Square Garden in the can

Swish! Cablevision putting Madison Square Garden in the can originally appeared on DailyFinance on Thu, 30 Jul 2009 15:20:00 EST. Please see our terms for use of feeds.

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]]>CablevisionMadison Square GardenMadisonSquareGardenNBANew York KnicksNew York RangersNewYorkKnicksNewYorkRangersNHLRockettesMark FightmasterThu, 30 Jul 2009 15:20:00 ESTOnce again, speculators are blamed for high oil priceshttp://www.dailyfinance.com/2009/07/28/once-again-speculators-are-blamed-for-high-oil-prices/http://www.dailyfinance.com/2009/07/28/once-again-speculators-are-blamed-for-high-oil-prices/http://www.dailyfinance.com/2009/07/28/once-again-speculators-are-blamed-for-high-oil-prices/#commentsFiled under: , ,

Remember last year when we were paying upwards of $4 per gallon for gasoline? There was a lot of talk of why this was happening, with supply and demand receiving the blame for the high per-barrel prices for oil. At the time, I was skeptical and many financial analysts felt this way as well, as oil inventories were rising on a consistent basis.

One of the groups citing basic supply and demand as the cause of high oil and gas prices was the Commodity Futures Trading Commission (CFTC), but this group now appears to be changing its tune. Bart Chilton, one of the group's four commissioners, told The Wall Street Journal that that this analysis came from "deeply flawed data."

Continue reading Once again, speculators are blamed for high oil prices

Once again, speculators are blamed for high oil prices originally appeared on DailyFinance on Tue, 28 Jul 2009 12:00:00 EST. Please see our terms for use of feeds.

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]]>CFTCcommoditiesoiloil pricesOilPricesPresident ObamaPresidentObamaSarkozyspeculatorsMark FightmasterTue, 28 Jul 2009 12:00:00 ESTWarren Buffett believes in stocks, although the economy shows no signs of lifehttp://www.dailyfinance.com/2009/07/24/warren-buffett-believes-in-stocks-although-the-economy-shows-no/http://www.dailyfinance.com/2009/07/24/warren-buffett-believes-in-stocks-although-the-economy-shows-no/http://www.dailyfinance.com/2009/07/24/warren-buffett-believes-in-stocks-although-the-economy-shows-no/#commentsFiled under: ,

Warren Buffett appeared on CNBC this morning, and noted that the economy isn't showing any signs of life yet. He conceded that business is still flat, but that doesn't mean that he is bearish on stocks. In fact, Buffett predicted that the market would turn around before the economy.

Buffett noted that waiting to buy stocks until the economy improves could mean that investors miss the largest stock gains. He still asserts that stocks will outperform cash investments in the long term.


Continue reading Warren Buffett believes in stocks, although the economy shows no signs of life

Warren Buffett believes in stocks, although the economy shows no signs of life originally appeared on DailyFinance on Fri, 24 Jul 2009 12:30:00 EST. Please see our terms for use of feeds.

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]]>DowDow Jones Industrial AverageDowJonesIndustrialAverageinflationstimulus packageStimulusPackageTreasurysWarren BuffettWarrenBuffettMark FightmasterFri, 24 Jul 2009 12:30:00 ESTUPS delivers in-line quarterly earningshttp://www.dailyfinance.com/2009/07/23/ups-delivers-in-line-quarterly-earnings/http://www.dailyfinance.com/2009/07/23/ups-delivers-in-line-quarterly-earnings/http://www.dailyfinance.com/2009/07/23/ups-delivers-in-line-quarterly-earnings/#commentsFiled under: ,

This morning, package-delivery firm United Parcel Service (UPS) released its second-quarter earnings report. The company's adjusted diluted earnings per share came in at 49 cents per share, compared to 85 cents per share a year ago, matching the consensus estimate. Revenue came in at $10.8 billion, which is also lower than a year ago when the company brought in $13 billion.

Looking ahead, UPS reiterated its forecast for third-quarter earnings between 45 and 55 cents per share. This range is slightly short of the Street's expected earnings of 59 cents per share. The company's CEO Scott Davis noted that the overall economic environment pressured the company's performance; nevertheless, UPS "remains financially very strong." Davis added that the company will "continue to invest in growth opportunities," and that UPS is a "company that can weather this recession."

Continue reading UPS delivers in-line quarterly earnings

UPS delivers in-line quarterly earnings originally appeared on DailyFinance on Thu, 23 Jul 2009 10:10:00 EST. Please see our terms for use of feeds.

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]]>earnings reportEarningsReporteconomic crisisEconomicCrisisFDXFedExpackage deliveryPackageDeliveryquarterly earningsQuarterlyEarningsrecessionUnited Parcel ServiceUnitedParcelServiceUPSMark FightmasterThu, 23 Jul 2009 10:10:00 ESTGE ready to exit the Temporary Liquidity Guarantee Programhttp://www.dailyfinance.com/2009/07/22/ge-ready-to-exit-the-temporary-liquidity-guarantee-program/http://www.dailyfinance.com/2009/07/22/ge-ready-to-exit-the-temporary-liquidity-guarantee-program/http://www.dailyfinance.com/2009/07/22/ge-ready-to-exit-the-temporary-liquidity-guarantee-program/#commentsFiled under: ,

Earlier this morning, General Electric (GE) announced that the Federal Deposit Insurance Corp. (FDIC) approved an application for the conglomerate to exit the Temporary Liquidity Guarantee Program (TLGP). Thanks to this decision, GE Capital will no longer issue government-guaranteed short-term debt. The firm will now issue non-guaranteed long-term debt with maturities of 18 months to three years.

GE's Treasurer Kathryn Cassidy believes the move is "a positive step in returning the broader capital markets to normal functioning and is in line with GE Capital's 2009 and 2010 debt issuance and funding cost plans." According to Cassidy, this move will allow GE to respond to strong investor demand for longer-term debt.

Continue reading GE ready to exit the Temporary Liquidity Guarantee Program

GE ready to exit the Temporary Liquidity Guarantee Program originally appeared on DailyFinance on Wed, 22 Jul 2009 11:30:00 EST. Please see our terms for use of feeds.

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]]>economic crisisEconomicCrisisFDICGEGE FinancialGeFinancialGeneral ElectricGeneralElectricMark FightmasterWed, 22 Jul 2009 11:30:00 ESTCoca-Cola tops expectations, strengthening international market share http://www.dailyfinance.com/2009/07/21/coca-cola-strengthens-international-market-share-despite-strong/http://www.dailyfinance.com/2009/07/21/coca-cola-strengthens-international-market-share-despite-strong/http://www.dailyfinance.com/2009/07/21/coca-cola-strengthens-international-market-share-despite-strong/#commentsFiled under: ,

Beverage behemoth Coca-Cola (KO) released second-quarter earnings this morning. The company raked in 88 cents per share including charges (92 cents per share excluding items), an increase of 44 percent compared to a year ago. On a year-to-date basis, the company's earnings increased 18 percent while comparable earnings fell seven percent. The company noted that earnings per share were negatively impacted by the U.S. dollar's relative strength versus other world currencies.

The company also announced that unit case volume increased four percent, up from three percent in the year-earlier quarter. International volume growth came in at five, matching that from a year ago. Emerging markets performed well for KO, as India saw growth increase 33 percent and China notched 14 percent growth.

Continue reading Coca-Cola tops expectations, strengthening international market share

Coca-Cola tops expectations, strengthening international market share originally appeared on DailyFinance on Tue, 21 Jul 2009 13:00:00 EST. Please see our terms for use of feeds.

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]]>beveragesCoca-Colaearningsearnings reportEarningsReportKOPEPPepsiCoquarterly earningsQuarterlyEarningsMark FightmasterTue, 21 Jul 2009 13:00:00 ESTVW is set to take over Porschehttp://www.dailyfinance.com/2009/07/20/vw-is-set-to-take-over-porsche/http://www.dailyfinance.com/2009/07/20/vw-is-set-to-take-over-porsche/http://www.dailyfinance.com/2009/07/20/vw-is-set-to-take-over-porsche/#commentsFiled under:

It appears that the drawn-out struggle over the ownership of Porsche may be coming to an end. According to Saturday's edition of Der Spiegel, Volkswagen (VW) plans to purchase all of Porsche, which is stumbling economically thanks to its failed attempt to take control of VW.

Germany's leading weekly magazine reported that VW will completely take over the sports carmaker in two transactions. These transactions, when completed, will lead to Porsche becoming the 10th brand under the VW umbrella and making it the world's largest automaker. Initially, VW was going to purchase 49.9 percent of Porsche, but the report states that a second purchase of shares will result in a complete acquisition.

Continue reading VW is set to take over Porsche

VW is set to take over Porsche originally appeared on DailyFinance on Mon, 20 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.

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]]>auto industryAutoIndustryautomakersin focusInFocusPorschetakeovertakeover attemptTakeoverAttemptVolkswagenMark FightmasterMon, 20 Jul 2009 09:30:00 ESTDwayne Wade jumps from Converse to Nikehttp://www.dailyfinance.com/2009/07/17/dwayne-wade-jumps-from-converse-to-nike/http://www.dailyfinance.com/2009/07/17/dwayne-wade-jumps-from-converse-to-nike/http://www.dailyfinance.com/2009/07/17/dwayne-wade-jumps-from-converse-to-nike/#commentsFiled under: ,

There has been a major development in the world of athletic shoes, and to no one's surprise, it involves Nike (NKE). Dwayne Wade of the Miami Heat has taken his shoes and gone from Converse to Brand Jordan. Wade stated that he "didn't want to be in the Converse brand anymore because it seemed like they didn't know what to do with me." In addition, Wade told the Associated Press that he wanted to global, and this move was necessary to achieve such notoriety.

Wade will now join a stable of athletes that includes NBA players Chris Paul and Carmelo Anthony and MLB star Derek Jeter. As Wade noted, he has "enormous respect" for the Nike brand, and grew up on the south side of Chicago idolizing Michael Jordan (for whom the brand is named). It must have done Wade's heart well to hear Michael Jordan say that he is "thrilled" that Wade is in the Brand Jordan family.

Continue reading Dwayne Wade jumps from Converse to Nike

Dwayne Wade jumps from Converse to Nike originally appeared on DailyFinance on Fri, 17 Jul 2009 14:40:00 EST. Please see our terms for use of feeds.

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]]>Chuck TaylorChuck TaylorsChuckTaylorChuckTaylorsConverseDerek JeterDerekJeterDwayne WadeDwayneWadeKobe BryantKobeBryantLeBron JamesLebronJamesNikeMark FightmasterFri, 17 Jul 2009 14:40:00 ESTExxonMobil to research algae-based biofuels with Synthetic Genomicshttp://www.dailyfinance.com/2009/07/14/exxonmobil-to-research-algae-based-biofuels-with-synthetic-genom/http://www.dailyfinance.com/2009/07/14/exxonmobil-to-research-algae-based-biofuels-with-synthetic-genom/http://www.dailyfinance.com/2009/07/14/exxonmobil-to-research-algae-based-biofuels-with-synthetic-genom/#commentsFiled under: ,

This morning, ExxonMobil (XOM) announced that it will enter an agreement with Synthetic Genomics (SGI) to research and develop next-generation biofuels from photosynthetic algae.

For those of us who were reared on The Jetsons, flying cars are the benchmark for stranger-than-life transportation advancements. Even so, the idea that we may actually have cars that can run on fuel produced by algae (or "pond scum," as my country ancestors would say) is pretty darn cool. The companies' "advanced biofuels" will be produced by photosynthetic algae and will, allegedly, be compatible with gasoline and diesel fuels.

Continue reading ExxonMobil to research algae-based biofuels with Synthetic Genomics

ExxonMobil to research algae-based biofuels with Synthetic Genomics originally appeared on DailyFinance on Tue, 14 Jul 2009 14:20:00 EST. Please see our terms for use of feeds.

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]]>algaealgaebiodieselbiodieselbiofuelsenvironmentally friendlyEnvironmentallyFriendlyexxon mobilExxonMobiloilXOMMark FightmasterTue, 14 Jul 2009 14:20:00 ESTGeithner says government was 'surprised' by derivativeshttp://www.dailyfinance.com/2009/07/10/geithner-says-government-was-surprised-by-derivatives/http://www.dailyfinance.com/2009/07/10/geithner-says-government-was-surprised-by-derivatives/http://www.dailyfinance.com/2009/07/10/geithner-says-government-was-surprised-by-derivatives/#commentsFiled under: ,

Earlier today, Treasury Secretary Timothy Geithner told an assembled group of lawmakers that the Obama administration's plan to stimulate the U.S. economy is on the "expected path." The White House plan calls for an economic stimulus that will allocate billions of dollars to construction and other local projects. Geithner's statement was made before a joint hearing of the House Financial Services and Agriculture committees on Capitol Hill.

The Treasury Secretary was asked where the plan went wrong, which led Geithner to opine that unemployment is inescapable during a recession. He added that the stimulus plan "was necessary and critically important to reduce the risk that we'd see hundreds of thousands of losses of jobs, and we'd see millions of job losses beyond this point, and see thousands of more businesses fail unnecessarily." Geithner also pointed out that the rate of decline in the economy has slowed, that consumer confidence is improving, that the financial system is healing, and that concern about a financial meltdown has receded.

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Geithner says government was 'surprised' by derivatives originally appeared on DailyFinance on Fri, 10 Jul 2009 15:30:00 EST. Please see our terms for use of feeds.

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