DailyFinance.comhttp://www.dailyfinance.comDailyFinance.com%http://www.blogsmithmedia.com/BlogURL%/media/feedlogo.gifDailyFinance.comhttp://www.dailyfinance.comen-usCopyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only.Blogsmith http://www.blogsmith.com/National Enquirer: Apple's Steve Jobs Is Terminally Illhttp://www.dailyfinance.com/2011/02/17/steve-jobs-will-be-dead-within-weeks-enquirer-says/http://www.dailyfinance.com/2011/02/17/steve-jobs-will-be-dead-within-weeks-enquirer-says/http://www.dailyfinance.com/2011/02/17/steve-jobs-will-be-dead-within-weeks-enquirer-says/#commentsFiled under: , , , , ,

Steve JobsSteve Jobs, the CEO of Apple (AAPL), has only six weeks to live, according to the National Enquirer.

The often sensationalist tabloid published photos in of Jobs looking extremely thin and frail, according to TNT magazine.

Jobs has taken his third medical leave of absence from Apple in seven years. In 2004 he was treated for pancreatic cancer and in 2009 he received a liver transplant. He has not specified the reason for his latest medical leave.

The photos were apparently taken at the Stanford Cancer Center.

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Doctors who have not treated or even seen Jobs reportedly told the Enquirer that the photos indicate that he'll will be dead within weeks.

"Judging from the photos, he is close to terminal. I would say he has six weeks," Dr. Samuel Jacobson told the paper. Jacobson has no first-hand knowledge, however.

Jobs, who has not been spotted out much in public, is reportedly due to meet with President Barack Obama in San Francisco today.

Obama is expected to meet with other Silicon Valley-area CEOs including Jobs, Facebook's Mark Zuckerburg and Google's (GOOG) Eric Schmidt to discuss job growth, ABC News reported




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]]>Barack Obamaeric schmidtMark Zuckerbergsteve jobssteve jobs healthsteve jobs medical leaveHugh CollinsThu, 17 Feb 2011 07:48:00 ESTHonda Recalls 700,000 Vehicles on Engine Problemshttp://www.dailyfinance.com/2011/02/17/honda-recalls-700-000-vehicles-on-engine-problems/http://www.dailyfinance.com/2011/02/17/honda-recalls-700-000-vehicles-on-engine-problems/http://www.dailyfinance.com/2011/02/17/honda-recalls-700-000-vehicles-on-engine-problems/#commentsFiled under: , , ,

Honda (HMC) is recalling almost 700,000 vehicles because of problems that could cause engines to stall.

The affected vehicles include Fit, Freed and City compact car models in Asia and North America, BBC News reported.

More than 100 complaints have been filed about the fault, though no accidents have been reported.

Honda traced the problem to a spring that had been placed incorrectly in the engine.

The company is recalling 122,000 cars in North America, 167,000 vehicles in Japan, 156,000 in China and 233,000 in the rest of Asia.



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]]>car safetycarsrecallHugh CollinsThu, 17 Feb 2011 07:32:00 ESTTrump Entertainment Resorts to Sell Atlantic City Casinohttp://www.dailyfinance.com/2011/02/14/trump-entertainment-resorts-to-sell-atlantic-city-casino/http://www.dailyfinance.com/2011/02/14/trump-entertainment-resorts-to-sell-atlantic-city-casino/http://www.dailyfinance.com/2011/02/14/trump-entertainment-resorts-to-sell-atlantic-city-casino/#commentsFiled under:

Trump Marina hotel and casinoTrump Entertainment Resorts agreed to sell the Trump Marina Hotel Casino in Atlantic City for $38 million.

The casino will be sold to Landry's Inc., which operates the Golden Nugget casinos in Las Vegas and Laughlin, Nevada, Trump Entertainment Resorts said in a statement.

The transaction is expected to close in the second quarter, provided it receives regulatory approval.

Trump Entertainment Resorts plans to use the proceeds to reduce its long-term debt.


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]]>atlantic citycasinodonald trumpgamblingTrump Entertainment ResortsHugh CollinsMon, 14 Feb 2011 08:25:00 ESTBoeing Unveils New 747 Intercontinental Jethttp://www.dailyfinance.com/2011/02/14/boeing-unveils-new-500-seat-jet-intercontinental/http://www.dailyfinance.com/2011/02/14/boeing-unveils-new-500-seat-jet-intercontinental/http://www.dailyfinance.com/2011/02/14/boeing-unveils-new-500-seat-jet-intercontinental/#commentsFiled under: , ,

Boeing 747 IntercontinentalBoeing (BA) unveiled the new 747-8 Intercontinental jet Sunday, which can seat as many as 500 people.

The new plane has 12% lower costs per seat than the 747-400, Boeing said in a statement. The plane will also emit 16% less carbon.

"As the only airplane in the 400 to 500-seat market, the 747-8 Intercontinental will give operators an airplane perfectly suited for long, heavily traveled routes around the world," said Pat Shanahan, vice president of airplane programs with Boeing Commercial Airplanes.

The company has already received orders for a total of 33 of the 747-8 jets, from customers including Korean Air and Lufthansa. Deliveries will begin in the fourth quarter.

"We think our customers will value the low operating costs and passengers will enjoy the comfort of the striking new interior," said Boeing CEO Jim Albaugh.

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]]>air travelplanestransportationHugh CollinsMon, 14 Feb 2011 08:16:00 ESTStarbucks to Make Announcement on Single-Serve Coffeehttp://www.dailyfinance.com/2011/02/14/starbucks-to-make-announcement-on-single-serve-coffee/http://www.dailyfinance.com/2011/02/14/starbucks-to-make-announcement-on-single-serve-coffee/http://www.dailyfinance.com/2011/02/14/starbucks-to-make-announcement-on-single-serve-coffee/#commentsFiled under: , , ,

StarbucksStarbucks (SBUX) said it will soon make a major announcement about a new product for the single-serve market.

The company is preparing for the expiration of its agreement with Kraft Foods (KFT), Reuters reported. Under the terms of the agreement, which expires March 1, Starbucks provides coffee for Kraft's Tassimo one-cup home brewer.

Starbucks is seeking to go beyond its traditional model of selling cups of coffee in stores. Last year it introduced the Via instant coffee brand, drawing in new customers.

It's not clear what the new announcement will be, analysts say. Some expect Starbucks to provide coffee for Green Mountain Coffee's Keurig brewing system, which holds about 80% of the single-cup coffee market.

Others feel such a deal is unlikely, given that many Green Mountain patents are about to expire.

"Starbucks is currently exploring all options to expand its presence in the premium single-cup coffee category, beyond our initial entry with Starbucks Via Ready Brew," Starbucks spokeswoman Lara Wyss told Reuters.

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]]>coffeefoodfood and drinksingle serving coffeemakerHugh CollinsMon, 14 Feb 2011 07:59:00 ESTFormer Enron CEO Denied Permission to Attend Son's Funeralhttp://www.dailyfinance.com/2011/02/09/former-enron-ceo-denied-permission-to-attend-sons-funeral/http://www.dailyfinance.com/2011/02/09/former-enron-ceo-denied-permission-to-attend-sons-funeral/http://www.dailyfinance.com/2011/02/09/former-enron-ceo-denied-permission-to-attend-sons-funeral/#commentsFiled under:

Jeffrey Skilling, former CEO of Enron, was denied temporary release from prison to attend his son's funeral, CNBC reported.

John Taylor "J.T." Skilling was found dead at his home in Santa Ana, California, last week. The cause of the college sophomore's death is undetermined, pending a toxicology report.

Jeffrey Skilling is serving a 24-year prison sentence for his role in the collapse of Enron.

No reason for the denial of his request was given.

J.T. Skilling was buried yesterday, according to Daniel Petrocelli, the attorney representing Jeffrey Skilling.


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]]>EnronlegalSkillingHugh CollinsWed, 09 Feb 2011 07:28:00 ESTIRS Launches New Disclosure Program For Offshore Fundshttp://www.dailyfinance.com/2011/02/09/irs-launches-new-disclosure-program-for-offshore-funds/http://www.dailyfinance.com/2011/02/09/irs-launches-new-disclosure-program-for-offshore-funds/http://www.dailyfinance.com/2011/02/09/irs-launches-new-disclosure-program-for-offshore-funds/#comments
Individuals can bring their money back into the U.S. system, provided they pay a penalty, back-taxes and interest for as many as eight years, the IRS said. Some of the penalties will be as great as 25% of the amount in the foreign bank accounts in the year with the highest aggregate account balance between 2003 and 2010.

Others will qualify for lower penalties.

"This new effort gives those hiding money in foreign accounts a tough, fair way to resolve their tax problems once and for all," said IRS Commissioner Doug Shulman. "And it gives people a chance to come in before we find them."

The new initiative follows a similar voluntary disclosure initiative that closed in Oct. 2009. The 2009 program closed with 15,000 voluntary disclosures covering banks in more than 60 countries.

"For those hiding cash or assets offshore, the time to come in is now," Shulman said. "The risk of being caught will only increase."


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]]>irstax evasionHugh CollinsWed, 09 Feb 2011 07:22:00 ESTChipotle Fires Hundreds of Workers Amid Immigration Probehttp://www.dailyfinance.com/2011/02/08/chipotle-fires-hundreds-of-workers-in-minnesota/http://www.dailyfinance.com/2011/02/08/chipotle-fires-hundreds-of-workers-in-minnesota/http://www.dailyfinance.com/2011/02/08/chipotle-fires-hundreds-of-workers-in-minnesota/#commentsFiled under: ,

Chipotle fires hundreds of workersChipotle (CMG), the chain restaurant serving Mexican food, fired hundreds of workers in Minnesota after receiving notice from Immigration and Customs Enforcement that they had "suspect documents."

The ICE began its probe of Chipotle in Minnesota, where the company employs about 1,200 workers, The Wall Street Journal reported. The probe has since spread to Chipotle restaurants in Virginia and Washington, DC.

"We have compiled and provided all requested documents to ICE and are waiting to hear back from them," Chipotle spokesman Chris Arnold said.

Illegal workers usually present a fake social security number of somebody else's identity to secure work.

Chipotle, whose slogan is "Food With Integrity" is one of the most prominent companies to be targeted for worksite enforcement by the Obama administration. It employs a total of 25,000 workers.

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]]>chipotlefood and drinkimmigrationrestaurantsHugh CollinsTue, 08 Feb 2011 07:28:00 ESTGroupon CFO Jason Child: 'I Don't See Any Limits'http://www.dailyfinance.com/2011/02/08/groupon-cfo-jason-child-i-dont-see-any-limits/http://www.dailyfinance.com/2011/02/08/groupon-cfo-jason-child-i-dont-see-any-limits/http://www.dailyfinance.com/2011/02/08/groupon-cfo-jason-child-i-dont-see-any-limits/#commentsFiled under: , , , ,

Groupon's Jason ChildGroupon made lots of headlines in 2010. The online coupon company reached millions of customers, then spurned a multibillion dollar buyout offer from Internet giant Google (GOOG). Now the company is aiming for more -- new products, different markets and major investment.

DailyFinance chatted with Groupon Chief Financial Officer Jason Child, 42, about the company's prospects, online retail and the potential for a market that has grown at a ferocious pace.

Here are some excerpts from our conversation:

DailyFinance: Groupon has become a household name remarkably quickly. Why do you think customers like you?
Child: I'm not certain exactly what it is. I think it's partially the price point of the deal. We offer discounts that are unprecedented. It could also be that people see deals on Groupon as soon they wake up, and they can see exactly how popular they are. Looking at that probably helps them determine if it's something they want, kind of a wisdom-of-the-crowd mentality.

Who are your customers?
We've got about 54 million subscribers worldwide today. We skew slightly more toward women then men. A little over half are now outside the U.S. Out of the 54 million subscribers, a little less than half are North America and the rest are international.

Generally, it's just people looking for a good deal. We don't have demographics beyond that.

How was Groupon able to grow so fast?
Group buying itself isn't a new concept by any means, but now you can combine the group-buying model with the Internet and social media. People are checking their apps on their iPhone or their email or logging on to their Facebook account. There are just so many more touch points for the consumer now than there used to be. When you have a very compelling offer, you really have a lot more opportunity to create something special.

Also, the global economic slowdown has forced people to look a little harder at the value they get for whatever they're spending their discretionary income on. I'd say that's the economic aspect.

What does 2011 hold for Groupon?
We're in 41 markets worldwide. We were only in one market less than a year ago. Our view is we will continue to expand the number of markets we operate in, and we'll continue improve the product. We're going to continue to expand the model beyond the deal of the day. It could be deal of the day or deal of the hour or even "what do you want to do today?" There are a lot of directions to go.

Groupon turned down $6 billion from Google. That's a lot of money. How big do you think Groupon can get?
The opportunity is massive. I don't see any limits. When I look at some of the other big Internet players, I don't see why we can't be as big as any of them.

Can you be as big as your previous employer, Amazon (AMZN)?
We absolutely could be. Whether we will be depends on a bunch of factors. But we definitely could be.

So far, Groupon has resisted going public. What are the disadvantages of an IPO?
The disadvantage is there would be distraction from running the business. Right now, I spend my time on evaluating a variety of ways to spend money to gain more subscribers, gain additional merchants and grow the business. If we're a public company, I have to spend time thinking about Sarbanes-Oxley, fair disclosure requirements. I have to think about balancing the need to report sufficient information to investors without giving too much to competitors.

I don't know if "distraction" is the right word, but there's a significant amount of overhead and responsibility involved in being public. At some point, when the benefits of going public outweigh the costs, we'll make the decision. But we haven't made the decision yet.

You've worked for Amazon and Groupon. What do you think is the biggest difference between online retail and buying something in person?
The most obvious difference is the product or service isn't immediate. You're not going to touch that product before you buy it. It's not something you purchase at the location. That's why those companies who have used a discount model have been able to do better. It seems to me that consumers expect that if you buy something that's not immediate, there has to be a discount.

Is there still room for growth in online retail?
Absolutely. If you look at some of the most Internet-penetrated countries, like South Korea, something like 15% or 20% of all retail is online. In the U.S., it's 7% or 8%. So there's a significant opportunity for online retail the U.S. and other major markets around the world.

The number of merchants using our daily deals or the other services is still a very small fraction of the businesses that are out there.

Have you ever used a Groupon?
Of course I have. The last groupon I used was for a restaurant in Seattle last week. It was a Buenos Aires grill, an authentic Argentine steakhouse. It was fantastic. I think I had the bife al chorizo. It was $25 for a $50 groupon. I took my family of four. With food and a bottle of wine, I think we spent something like $150 . We saved $25 on that.

Also See: Will Groupon Survive Its Tibetan Ad Crisis?



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]]>google grouponGrouponGroupon CFO Jason ChildGroupon IPOIPOsonine shoppingonline couponsonline retailHugh CollinsTue, 08 Feb 2011 06:30:00 ESTBank of America Hit With Foreclosure Lawsuithttp://www.dailyfinance.com/2011/02/03/bank-of-america-hit-with-foreclosure-lawsuit/http://www.dailyfinance.com/2011/02/03/bank-of-america-hit-with-foreclosure-lawsuit/http://www.dailyfinance.com/2011/02/03/bank-of-america-hit-with-foreclosure-lawsuit/#commentsFiled under: , , ,

Bank of America Corp. (BAC) is the subject of a lawsuit that accuses the bank of hiding foreclosure problems that contributed to a drop in its share price.

The suit, filed by a union benefit plan, says Bank of America concealed problems in its recording of mortgages, Reuters reported. This damaged investors when the company suspended foreclosure proceedings last year, the suit says.

"We are reviewing the lawsuit and have no further comment at this time," said Bank of America spokeswoman Shirley Norton.

Attorneys general in all 50 states are investigating foreclosure practices after accusations that lenders were using flawed paperwork to foreclose on homes.

The suit is a proposed class action suit. The plaintiff purchases almost 25,000 Bank of America shares in a three-month period last year.

The suit proposes a class made up of all who bought the stock between January 20, 2010 and October 19, 2010.


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]]>bankingbanking sectorforeclosure crisisForeclosureslegalHugh CollinsThu, 03 Feb 2011 08:32:00 ESTBJ's Wholesale Club Surges After Saying Company May Be Soldhttp://www.dailyfinance.com/2011/02/03/bjs-wholesale-club-surges-after-saying-company-may-be-sold/http://www.dailyfinance.com/2011/02/03/bjs-wholesale-club-surges-after-saying-company-may-be-sold/http://www.dailyfinance.com/2011/02/03/bjs-wholesale-club-surges-after-saying-company-may-be-sold/#commentsFiled under: ,

BJsRetailer BJ's Wholesale Club (BJ) jumped in premarket trading after announcing that it is considering putting itself up for sale.

The stock jumped 13.35% to $48.74 a share at 8:12 am ET.

BJ's has hired Morgan Stanley & Co. (MS) to advise on options including a sale, the company said in a statement. There is no timetable for any deal, or any guarantee that a transaction will be completed.

"The company does not intend to provide updates or make any further comment regarding the evaluation of strategic alternatives, unless a specific transaction is recommended by the independent committee and the board, or the process is concluded," BJ's said in a statement.

BJ's operates 189 BJ's Wholesale clubs in 15 states.



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]]>BJs Wholesalemergers and acquisitionsretailstocksHugh CollinsThu, 03 Feb 2011 08:15:00 ESTObama Administration Launches Entrepreneur Grouphttp://www.dailyfinance.com/2011/02/01/obama-administration-launches-entrepeneur-group/http://www.dailyfinance.com/2011/02/01/obama-administration-launches-entrepeneur-group/http://www.dailyfinance.com/2011/02/01/obama-administration-launches-entrepeneur-group/#commentsFiled under: , , , , ,

The Obama administration is launching a "private sector alliance" to help entrepreneurs.

Startup America Partnership will bring together entrepreneurs, start-up financiers, CEOs and others to help companies start or grow, the group said in a statement.

Steve Case, co-founder of AOL (AOL), will chair the group. AOL is DailyFinance's parent company.

"America's story has been forged in large part by entrepreneurs who have against great odds created innovative products and services that have changed the world - and created millions of jobs," said Steve Case. "Our nation once again looks to these creative risk-takers to unleash the next wave of American innovation."

The group plans to leverage investments totaling more than $300 million from companies including Intel (INTC), HP (HPQ) and Facebook.

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]]>economyentrepreneurjobsobamaObama AdministrationHugh CollinsTue, 01 Feb 2011 08:16:00 ESTAuthorities Warn of Possible Terrorist Attacks on Banks, CEOshttp://www.dailyfinance.com/2011/02/01/authorities-warn-of-possible-terrorist-attacks-on-banks-report/http://www.dailyfinance.com/2011/02/01/authorities-warn-of-possible-terrorist-attacks-on-banks-report/http://www.dailyfinance.com/2011/02/01/authorities-warn-of-possible-terrorist-attacks-on-banks-report/#commentsFiled under: , , , ,

Wall StreetAuthorities have warned executives at major investment banks that a Qaeda terrorists in Yemen may be planning attacks against financial institutions or their top employees.

Intelligence analysts are concerned that operatives in Yemen may try to send package bombs or chemical agents to Wall Street bankers through the mail, NBC New York reported. Authorities are also concerned that terrorists may be discussing the names of top bankers.

Still, the threat is general in nature and there is "no indication of a targeted assassination plot," NBC New York reported, citing unidentified security sources.

Officials from the FBI and NYPD have briefed bank executives on the possible threats. They cite writings such as the Inspire magazine that recently warned of attacks against financial institutions and mentioned using anthrax in an attack.

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An al Qaeda blogger named Abu Suleiman Al-Nasser recently wrote,"Rush my Muslim brothers to targeting financial sites and the program sites of financial institutions, stock markets and money markets."

Al-Nasser has previously written about al Qaeda plots before much of the information was public knowledge.

Banks including Goldman Sachs (GS), Citibank (C) and JPMorgan Chase (JPM) have all been briefed by security officials, NBC New York reported.

Congressman Peter King (R-Long Island), chair of the House Homeland Security Committee, warned that such threats have to be taken seriously.

"Whenever a name is included ... it's always a cause for more concern because again the fear is that that's sending a specific signal to specific operatives in this country to take action," King said.

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]]>Al Qaedasecurityterrorismwall streetYemenHugh CollinsTue, 01 Feb 2011 07:48:00 ESTGoogle, Twitter to Let Egyptians Tweet by Voicemailhttp://www.dailyfinance.com/2011/02/01/google-twitter-to-let-egyptians-tweet-by-voicemail/http://www.dailyfinance.com/2011/02/01/google-twitter-to-let-egyptians-tweet-by-voicemail/http://www.dailyfinance.com/2011/02/01/google-twitter-to-let-egyptians-tweet-by-voicemail/#commentsFiled under: , , , ,

Google (GOOG) and Twitter have launched a phone service that will let people in Egypt send out tweets, even though the country's Internet service has been effectively shut down.

Users will be able to call a phone number and leave a voice message, which will then be translated and tweeted with the #egypt tag, The Guardian reported.

The service uses Google voice software.

"Over the weekend we came up with the idea of a speak-to-tweet service - the ability for anyone to tweet using just a voice connection," Ujwal Singh, Google's product manager for the Middle East and north Africa, wrote in a blog post. "We hope that this will go some way to helping people in Egypt stay connected at this very difficult time."

Protestors in Egypt initially used the Internet and social media to coordinate demonstrations. As pressure on the government grew, it effectively shut down the country's Internet infrastructure.

President Barack Obama criticized the move and called for Egypt to restore access to cellphone service, Internet and social media "that do so much to connect people in the 21st century."

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]]>egyptegypt protestsInternetsocial mediaHugh CollinsTue, 01 Feb 2011 07:29:00 ESTMcDonald's CFO on How It Aims to Supersize Growthhttp://www.dailyfinance.com/2011/01/31/how-mcdonalds-keeps-supersizing-its-profit/http://www.dailyfinance.com/2011/01/31/how-mcdonalds-keeps-supersizing-its-profit/http://www.dailyfinance.com/2011/01/31/how-mcdonalds-keeps-supersizing-its-profit/#commentsFiled under: , , , ,

McDonald's boosted its profit last year on sales of beverages and growth in emerging markets. Can it continue to gain as food prices rise?McDonald's (MCD) had a tasty 2010. Sales of its iced fruit drinks and frappes helped boost traffic to its stores, and its fourth-quarter profit rose 2.1% to a sweet $1.24 billion.

But the outlook for 2011 isn't so clear: Food prices are climbing, and even McDonald's can't hide from that. Also, U.S. unemployment remains stubbornly stuck above 9%, meaning fewer households can afford to supersize their orders.

DailyFinance chatted with McDonald's Chief Financial Officer Peter Bensen about food prices, strategies for growth and the company's evolving menu. Here are some excerpts from our conversation:

DailyFinance: With U.S. consumers remaining so cautious, how did McDonald's manage to grow in 2010?
Bensen: The success over the last several years has been driving the top line and, especially in 2010, a real focus in driving guest counts into our restaurants. That led to market share growth.

The McCafe beverage and the launch of frappe and smoothies helped drive traffic. Typically when we roll out a new product, customers tell us maybe 20% of visits are incremental -- they wouldn't have come without the new product. With these beverages, it's more like 40%.

Also, in January, we introduced the dollar menu at breakfast, which helped jump-start growth in the breakfast area.

McDonald's CFO Peter BensenCan you keep it up in 2011?
We're actually viewing 2011 as pretty similar to 2010. From data I saw the other day, they expect a slight increase in the market for eating out in the U.S., from a traffic perspective.

There is the potential that the economy will rebound. We'll have contingency plans to deal with that. Going into 2009 we had a lot of contingency plans for economy getting worse. We're now on the other end of that thinking.

McDonald's is a global company. Where in the world do you see the most potential for growth?
From a unit growth perspective and in terms of growth rate, it will continue to be Asia Pacific, Middle East and Africa. We're adding 150 to 200 restaurants in China and 625 in the total region. It's a pretty significant growth rate in terms of units, and the units are improving their profitability. That's our opening plan for 2011.

That's a lot of Chinese stores. How important is China to you?
China is extremely important from the long-term perspective. One point 3 billion people and growing, plus there's the whole concept of urbanization in the next 20 years. That looks like a pretty good quick-service restaurant market. But today it's only 3% of our income.

Our whole strategy in China is about building out our mass in the major cities and moving from the city centers to the outer rings and developing drive-throughs. That is not something that exists [in China].

Ten years ago, nobody would have thought about buying a salad at McDonald's. What changes do you see in food tastes?
The consumer is looking for more choice. Look at our recent launch of oatmeal. There were probably consumers who weren't coming to McDonald's for breakfast because we didn't offer choices like oatmeal. Look at things we've done like our beverage launch, salads, things like that.

Consumers are looking for more choice even though, over the past 20 or 30 years, hamburgers, soft drinks and French fries are still the top items that people consume.

Walmart (WMT) recently announced it was lowering sodium in its foods and cutting prices on fresh produce to promote healthy eating. Will McDonald's do something similar?
We absolutely think we need to be part of the solution. We get to that by offering choice and variety in our menu -- giving people the option to have oatmeal if they don't want an Egg McMuffin or hotcake that morning.

If we can also develop products where we can continue to provide the same great taste and improve the nutritional profile -- like reducing sodium -- we're absolutely going to pursue that.

You've said McDonald's will raise prices in 2011. Are higher food and commodity prices here to stay?
In 2011 in the U.S., we're expecting costs to be up 2% to 2.5%. I'd throw that into a bucket that I'd call "a normal year" of food inflation for us. With emerging markets getting more prosperous and consuming more protein, we're probably in for a period of continuous modest growth.

In the past, you've seen a lot of speculation or investors going into the markets causing a lot of volatility and in some cases spikes in prices. Now, we're probably going to see a situation where these markets are more driven by fundamental demand.

What are you going to have for lunch today?
I haven't decided yet! I did have an Egg McMuffin and apple dippers for breakfast. We have a McDonald's right here in our building. It might be a BBQ Angus or a grilled chicken salad. Depends on how I'm feeling.







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]]>Chinese middle classcommoditiesconsumer spendingemerging marketsfast foodfast food breakfastfast food chainsfast food stocksfoodfood pricefood price inflationfood price risesfood pricesfood prices 2011McCafeMcDonalds earningspeter bensenrestaurantsHugh CollinsMon, 31 Jan 2011 10:00:00 ESTReport: AT&T Quietly Allowing Some Users to Switch to Unlimited Data Planshttp://www.dailyfinance.com/2011/01/27/atandt-keeps-quiet-on-iphone-unlimited-data-plans-report/http://www.dailyfinance.com/2011/01/27/atandt-keeps-quiet-on-iphone-unlimited-data-plans-report/http://www.dailyfinance.com/2011/01/27/atandt-keeps-quiet-on-iphone-unlimited-data-plans-report/#commentsFiled under: , , , , , ,

As Verizon (VZ) and AT&T (T) battle for iPhone fans, Verizon can trumpet one advantage: the availability of unlimited data plans.

Officially, you can't move from a limited plan to an unlimited plan on AT&T. But a little-known loophole means that many users are in fact eligible for such a deal, according to The Associated Press.

Users who previously had an unlimited data plan can still qualify for the deal, even if they've since made the switch to a limited plan.

Jose Argumedo of Brentwood, N.Y., told the AP that he and a friend were able to get on an unlimited plan after speaking to the company's customer service.

Mark Siegel, a spokesman for AT&T, wouldn't confirm that the option exists.

"We handle customers and their situations individually, and we're not going to discuss specifics," he said.

AT&T officially allows users with an unlimited data plan to keep the plan when they upgrade to another phone. It's the option to move back to an unlimited plan that is little known.


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]]>Data PlaniphonephoneHugh CollinsThu, 27 Jan 2011 07:50:00 ESTSony Unveils New Portable Gaming Systemhttp://www.dailyfinance.com/2011/01/27/sony-unveils-new-portable-gaming-system/http://www.dailyfinance.com/2011/01/27/sony-unveils-new-portable-gaming-system/http://www.dailyfinance.com/2011/01/27/sony-unveils-new-portable-gaming-system/#commentsFiled under: , , , , ,

Sony (SNE) unveiled its new PlayStation Portable device, the Next Generation Portable Entertainment System, or NGP.

The hand-held device has greater motion sensitivity and allows gamers to connect with other users online, Sony said in a statement. The company plans to release the device at the end of 2011.

"NGP is designed to offer unparalleled interactive entertainment that is only possible on PlayStation," Sony said. "Within the device are a range of features that provide a genuinely cutting-edge, next generation ultimate portable entertainment experience."

The system also uses flash memory cards to store games and features two cameras mounted on the front.

The NGP is also compatible with Google's (GOOG) Android software for smartphones, Sony said.

"Users will have access to not only the most leading-edge content, but also some of the more casual experiences that typify the mobile market place," Sony said.

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]]>gamingPlayStationplaystation portableSONYHugh CollinsThu, 27 Jan 2011 07:33:00 ESTHertz Announces Online Marketplace for Used Carshttp://www.dailyfinance.com/2011/01/26/hertz-announces-online-marketplace-for-used-cars/http://www.dailyfinance.com/2011/01/26/hertz-announces-online-marketplace-for-used-cars/http://www.dailyfinance.com/2011/01/26/hertz-announces-online-marketplace-for-used-cars/#commentsFiled under: , , ,

Car rental company Hertz (HTZ) announced the launch of an online marketplace to help used-car dealers purchase vehicles from its fleet.

The Dealer Direct program will provide dealers with real-time information on available vehicles, Hertz said in a statement. Dealers can purchase the cars directly from Hertz, resulting in lower prices, the company said.

"Hertz Dealer Direct is an integral part of our car sales strategy," said Mark Frissora, CEO of Hertz. "Dealer Direct provides car dealers with a real-time, ecommerce platform for buying cars directly from our company providing financial benefits to dealers and Hertz."

Dealers will be able to sign up for alerts that let them know when a vehicle they are interested in becomes available. Hertz developed the program in conjunction with Advent Resources Inc.

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]]>HertzHertzRentalCarsused carsHugh CollinsWed, 26 Jan 2011 07:37:00 ESTFacebook Credits to Become Mandatory for Virtual Transactionshttp://www.dailyfinance.com/2011/01/25/facebook-credits-to-become-mandatory-for-virtual-transactions/http://www.dailyfinance.com/2011/01/25/facebook-credits-to-become-mandatory-for-virtual-transactions/http://www.dailyfinance.com/2011/01/25/facebook-credits-to-become-mandatory-for-virtual-transactions/#commentsFiled under: , , , , ,

Facebook has said that all game developers on the social network must start accepting its Facebook Credits as payment, a step towards making the credits the default payment system on the social networking site.

Facebook Credits can be used to make purchases such as digital goods for games. You can purchase Facebook Credits with a credit card.

Game developers will still be allowed to use their own in-game currencies, but these transactions would have to be processed with Facebook Credits, The Wall Street Journal said. The new rules come into effect on July 1.

The credits could represent a major source of revenue for Facebook, which currently earns most of its revenue through advertising. The site takes a 30% cut of all transactions in Facebook Credits, compared with the roughly 3% cut charged by sites like eBay (EBAY) and PayPal.

Facebook Credits are currently used in more than 70% of the transaction of virtual goods on the site, as measured by volume.

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]]>facebookfacebook creditsFacebookAppsFacebookGamessocial networkingsocial networking sitesHugh CollinsTue, 25 Jan 2011 07:44:00 ESTStruggling J.C. Penney to Shut Stores in Cost-Cutting Movehttp://www.dailyfinance.com/2011/01/24/jc-penney-closing-stores/http://www.dailyfinance.com/2011/01/24/jc-penney-closing-stores/http://www.dailyfinance.com/2011/01/24/jc-penney-closing-stores/#commentsFiled under: , ,

J.C. PenneyJ.C. Penney (JCP) said it will close some of its department stores, call centers and outlet stores in a bid to cut costs.

The struggling retailer will shut five department stores in locations including Morrow, Ga., and West Dundee, Ill., the company said in a statement. It will close a total of 19 outlet stores, as well as its call center facilities in Grand Rapids, Mich., and Albuquerque, N.M.

"The actions we are announcing today are significant steps in an ongoing process to ensure we are best managing costs and allocating our resources effectively," said CEO Myron E. Ullman.

J.C. Penney will initiate these actions over the course of 2011. The company will incur one-time charges of about 8 cents per share in the fourth quarter of fiscal 2010 and 5 cents per share in 2011 as a result of the transition. In 2012, the company expects a positive impact of 7 cents per share.

Also Monday, the company agreed to name activist investor William A. Ackman, founder and CEO of Pershing Square Capital Management, and Steven Roth, chairman of the board of Vornado Realty Trust, as directors.

Shares rose more than 3% in premarket trading.

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]]>bill ackmancall centersdepartment storesjc penneyjcpenney closing storesoutlet storesHugh CollinsMon, 24 Jan 2011 07:27:00 EST