Media
FeedMassucci's Take: Twitter CEO says Murdoch's Google plan is doomed
Filed under: Company News, Technology, People, Media, Google , Apple, News Corp.
Twitter co-founder and CEO Biz Stone said Thursday that Rupert Murdoch's potential plan to block Google from searching New Corp.'s (NWS) websites is doomed to fail. Murdoch has accused Google (GOOG) of stealing content from his publications, which include The Wall Street Journal and the New York Post in the U.S., and The Times and The Sun in the United Kingdom. The cantankerous tycoon said last week that blocking Google could be part of his strategy to get more people to pay for content online.Here's a young man, all of 35, who runs a company that makes no money, telling an old man, 78, who runs companies that have made billions, that he is wrong. But while it's easy to dismiss Stone's comments as youthful bravado, I think he's giving Murdoch some valuable advice.
Couple arrested after refusing to pay tip at Pennsylvania pub
Talk about a rough night. Two Pennsylvania college students were arrested recently for refusing to pay a tip.According to media reports, Leslie Pope, a senior at Moravian College, and her boyfriend John Wagner, a grad student at Lehigh University, wound up in the back of a squad car after complaining about the lack of service they received at the Lehigh Pub in Bethlehem, Pa. on October 23. They evidently had good reason to complain.
Daily Blogwatch: Why isn't Buffett investing in gold?
Filed under: People, Investing, Media

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What historically happens to the markets around Thanksgiving Day?
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Since Warren Buffett thinks inflation is going to happen, why isn't he investing in gold?
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After 25 years, TV talk queen Oprah to move to cable
Oprah Winfrey made herself famous on broadcast TV and now she is walking away from the medium. Harpo, her production company, sent a letter to the 214 stations that carry her show saying that "The Oprah Winfrey Show" will air its last program on Sept. 9, 2011. CBS (CBS) syndicates the show, so it will lose a large source of revenue. Many ABC stations air her program, so this will be a blow to them as well.
A number of newspapers and news websites reported that Oprah is well along in creating her own cable channel. She is a billionaire, according to knowledgeable sources, so the risk of moving to cable is one she can afford. The new venture will be called OWN and will be partially owned by Discovery Communications (DISCA).
Is New York really ready to put a suspected terrorist on trial?
Filed under: Economy, People, Media
As New York City copes with the knowledge that it will soon host the trial of Khalid Sheikh Mohammed, mastermind of the September 11 terror attacks, there is growing concern about the security of the city and its inhabitants.The towering prison where Mohammed will be held and the courtroom where he will be tried are a short walk from the site of the Twin Towers and not far from Wall Street. It doesn't take Nostradamus to see how the combination of a prominent location, a showy trial and a bustling city could have terrorists licking their lips.
Mea Culpa: Fox News keeps making conservative-friendly mistakes
Filed under: People, Media, News Corp.
It happened again Wednesday, when host Gregg Jarrett, introducing a segment on Happening Now, described the "huge crowds" that were turning out to greet Sarah Palin on the promotional tour for her book, Going Rogue. "These are some of the pictures just coming into us," Jarrett said as images of Palin surrounded by throngs of supporters flashed across the screen.
Facebook shares up, but value down by a third: Ready for the IPO?
Filed under: Technology, Investing, Media, Google , Microsoft, Facebook
Facebook looks like its worth close to $10 billion right now, based on actual transactions in the stock. The social networking site has seen its shares surge on an exchange for private companies, suggesting that the company is perceived to be headed in the right direction. Of course, private companies don't have to disclose all their dirty laundry, so assume that the current "market" value is based on only the rosiest of impressions. Some see this as a leading indicator of a Facebook IPO, which is bound to ignite unparalleled excitement.
There's room for a little common sense, though, and investors should take advantage of it. Facebook remains down 33% from its 2007 peak value of $15 billion, and the recent trading activity implies a value slightly below that defined by the latest investment in the company. It probably makes sense to keep the corks in the champagne bottles a little bit longer, but only because the vintage isn't quite right yet.
Walmart to Amazon: You're going down!
Filed under: Company News, Economy, People, Media, Wal-Mart Stores, Amazon.com, Inc.
The ongoing battle for internet bookselling heated up on Thursday. Walmart (WMT) CEO Raul Vasquez is trash-talking Amazon (AMZN) CEO Jeff Bezos (pictured), according to the New York Post: "If there's going to be a Walmart on the Web," Vasquez said, "it's going to be Walmart.com." Oooh -- it's on.
The comment is the latest salvo in this fall's highly publicized pricing war between the titans. In October, Walmart.com dropped the price of 10 bestselling books to $10. Amazon followed suit; Walmart countered with $9, and Amazon followed. Walmart downed the ante to $8.99, and Amazon backed off -- only to see Target.com match Walmart.com, which ducked down to $8.98. Vasquez sums up his company's pricing strategy: "If they react and match our prices, we're going to continue to lower our prices."
AOL seeks to shrink workforce by a third after spin-off
Filed under: Company News, Media, Time Warner
AOL after Time Warner will be a substantially smaller company, at least in terms of the number of people it employs. The Internet pioneer, which is the parent of DailyFinance, revealed the rough outlines of a long-anticipated downsizing Thursday, saying it plans to reduce its global workforce by one-third, or 2,500 people, following its spin-off from Time Warner (TWX) next month.To achieve that figure, the company is offering enhanced severance packages to volunteers who step forward between Dec. 4 and Dec. 11. (The spin-off will take place Dec. 9.) If the reduction can't be achieved solely through voluntary departures, the remainder will take the form of layoffs, with those workers receiving less-generous severance pay and benefits.
Daily Blogwatch: Why is Ron Paul wrong? What are the best stocks of the decade?
Filed under: Company News, Technology, Columns, Economy, People, Investing, Earnings, Media

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Why Ron Paul is wrong about everything he says on the economy.
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Interesting to see which are the best stocks of the decade.
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Comic book heroes aren't just bulletproof - they're recession-proof
Filed under: Columns, Investing, Media, Time Warner, Walt Disney
The comic book industry may not able to leap tall buildings in a single bound, but it has withstood the worst economic decline since the Great Depression fairly well.According to industry estimates, sales to specialty retailers rose 1% to $324.66 million between January and September. Experts say that it's too soon to say whether they will show a gain for the year because of the importance of holiday sales. But if sales do decline, it would be the industry's first drop-off since 2000. Those figures do not include sales of comics and graphic novels at Barnes & Noble (BKS) and other book store chains.
What hedge fund whiz John Paulson sees in Liberty Media: DirecTV
Filed under: Company News, Investing, Media
Investors keep a close eye on what hedge fund titan John Paulson is trading. And given the massive profits the superstar amassed betting against the subprime mortgage sector, it's little wonder. But while Paulson's recent purchase of Citibank (C) and sale of Goldman Sachs (GS) have caused a buzz, investors should also take a look at another trade that has so far remained largely under the radar: Paulson's funds have more than doubled their stake in Liberty Media (LMDIA) to 44.75 million shares from 20 million as of Sept. 30.
Barnes & Noble shuts the book on a hostile takeover by billionaire Burkle
Filed under: Company News, Investing, Media
It seemed mighty curious when billionare Ron Burkle's private equity firm Yucaipa Cos. suddenly doubled its stake in Barnes & Noble (BKS) between November 10 and 13. Burkle last week scooped up more than 4 million shares of the bookseller -- boosting his stake from 8.3% to 16.3% -- at an average price of $20.05.And Burkle's stock spree wasn't finished. On Monday, he bought another 457,000 shares, at an average price of $20.48, The Wall Street Journal reported -- boosting his stake to 10.2 million shares, or 17.8%. That makes him B&N's second-largest shareholder, after CEO and founder Len Riggio, who's been on a quiet grab campaign of his own, boosting his stake over the past year to 36.8%.
Palin photographer breached contract with sale to Newsweek
What on earth was Sarah Palin thinking when she posed in a pair of teeny-tiny gym shorts for a photograph that ended up on the cover of Newsweek -- a cover she has called "sexist"? Perhaps she was thinking that her image would only appear in the magazine she was posing for, Runner's World, and nowhere else, at least not for months and months. If so, she had good reason -- since, as DailyFinance has learned, the photographer who shot the picture violated his contract by reselling them to Newsweek.That photographer, Brian Adams, could not immediately be reached, and his agent, Kelly Price, declined to comment, saying, "I keep all of my clients' business private." But a spokeswoman for Runner's World confirms that Adams's contract contained a clause stipulating that his photos of Palin would be under embargo for a period of one year following publication -- meaning until August 2010. "Runner's World did not provide Newsweek with its cover image," the spokeswoman said. "It was provided to Newsweek by the photographer's stock agency, without Runner's World's knowledge or permission." The spokeswoman declined to say whether Runner's World intends to respond to Adams's breach of contract with legal action.
Retailers start holiday ads early, bet on frugal shoppers
Filed under: Company News, Media, Sears Holdings Corp., Wal-Mart Stores, Costco Wholesale Corp., Amazon.com, Inc.
Does it seem like the holidays arrived early this year? Maybe you noticed Costco (COST) stocking up on wrapping paper in September, or holiday television ads blaring during the weeks leading up to Halloween. Well, it's not your imagination, according to TNS Media Intelligence. Retailers this year started their national television holiday ad campaigns as much as four weeks before the traditional start of the holiday season, the media researcher says. "Typically, retailer advertising is concentrated in the eight weeks before Christmas," said Jon Swallen, senior vice president of research at TNS. "What we saw was a backing up of the calendar by a full four weeks."


























