News 2008-05-26 Andanh.com

As Credit Tightens, the Auto Industry Feels the Pain Mon, 26 May 2008 22:29:53 GMT
Squeezed by the credit crunch and the softening economy, the American auto industry faces what may be its worst year in more than a decade.

Abandoned Houses Are Keeping Contractors Busy Mon, 26 May 2008 21:38:05 GMT
It can take months, even years, for some homes to wind through the foreclosure process, and decay sets in.

An Upstart Challenges the Big Web Browsers Mon, 26 May 2008 12:30:47 GMT
Browser developer Mozilla will soon release Firefox 3.0, which will feature a few tricks that could change the way people organize and find the Web sites they visit most frequently.

Warner Tries a New Tactic to Revive Its DVD Sales Mon, 26 May 2008 03:17:52 GMT
Warner Brothers Entertainment is trying to boost DVD sagging sales by releasing companion projects to its films exclusively on DVD.

A Few Tremors in Oprahland Mon, 26 May 2008 03:13:23 GMT
The average audience for “The Oprah Winfrey Show” has fallen nearly 7 percent this year, according to Nielsen Media Research — its third straight year of decline.

Foreign Markets Diverge on Concerns About Oil and U.S. Mon, 26 May 2008 23:33:47 GMT
European stock markets edged higher Monday and Asian markets fell amid worries about high oil prices and the U.S. economy on a day when American markets were closed for Memorial Day.

Ex-Manager Tells of Bribery at Siemens Tue, 27 May 2008 00:21:23 GMT
An ex-manager at the European engineering company testified on Monday that his role in an intricate system of slush fund and bribery at the company was an open secret.

After Years of Turmoil, Newsday Prepares for Another Owner Mon, 26 May 2008 03:16:47 GMT
As Cablevision gets ready to take over Newsday, the paper’s readers and journalists are debating whether it means continued shrinkage, an infusion of new resources or something in between.

C.E.O. of Infineon Technologies Resigns Mon, 26 May 2008 19:50:21 GMT
Infineon Technologies said that Wolfgang Ziebart will resign at the end of the month over what it said was a difference in strategy for the money-losing semiconductor maker.

Link by Link: This Is Funny Only if You Know Unix Mon, 26 May 2008 07:26:30 GMT
XKCD.com is serving up an online comic strip with jokes for a very specific audience: techies.

British Union Sets Merger With Steelworkers Mon, 26 May 2008 03:18:19 GMT
Britain’s largest union, Unite, said it had finished the details of a planned merger with the United Steelworkers, which would create the first trans-Atlantic labor organization.

World Bank, U.S., Britain and Japan Take on Warming Mon, 26 May 2008 03:18:55 GMT
The World Bank will raise at least $5.5 billion with the United States, Britain and Japan this year to help poor nations use clean technology and tackle global warming.

Media Talk: A New Twist on Balloon Sculpture Mon, 26 May 2008 07:23:39 GMT
A documentary examining the world of professional balloon twisters has exposed a rift between “gospel twisters” and the “adult” twisters.

Media Talk: DVRs Lop Off End of (Gasp!) ‘American Idol’ Mon, 26 May 2008 03:22:00 GMT
When the finale of “American Idol” extended past its time slot, some viewers who saved the program on digital video recorders missed the announcement of the winner.

Media Talk: Bringing TV Clips to Blogs, a Site Runs Afoul of Networks Mon, 26 May 2008 03:22:59 GMT
Web start-up Redlasso.com thought its strategy for uploading television clips would make networks eager to sell ads on its site. On the contrary, networks want it to stop.

Cable Networks Trying to Build on Their Gains in Ratings Mon, 26 May 2008 03:24:37 GMT
Cable channels have been eroding broadcast viewership for years, and comparisons between them are inexact. This season, though, the shifts are especially sharp.

China Orders 6 Telecoms to Merge Their Assets Mon, 26 May 2008 03:25:01 GMT
The move would allow fixed-line carriers to expand into wireless services and create three operators that will offer phone and Internet connections to 1.3 billion people.

Learn to Play the Guitar at Your Local Newsstand Mon, 26 May 2008 03:25:31 GMT
Newsstand sales of Guitar World magazine soared after the publisher started putting instructional DVDs on the racks with the magazine.

Drilling Down: Some Shoppers Head to Supercenters Mon, 26 May 2008 03:19:53 GMT
Eighty-six percent of adults said they had shopped at a supermarket in the last month down from 93 percent in 2005, and stores like Wal-Mart have benefited.

Looking Ahead: This Week’s Economic Reports Mon, 26 May 2008 03:20:52 GMT
Reports this week will include new home sales for April, the Standard & Poor’s/Case-Shiller index of home prices and the consumer confidence index.

Treasury Auctions Set for This Week Mon, 26 May 2008 03:18:04 GMT
The Treasury’s schedule of financing this week included Tuesday’s auction of new three- and six-month bills on Wednesday and five-year notes on Thursday.

The Media Equation: The Wars We Choose to Ignore Mon, 26 May 2008 03:14:21 GMT
Coverage of the Iraq war tapered off even as the body count remained high.

Teenage Newshounds, It’s a Dog-Eat-Dog World Mon, 26 May 2008 02:43:13 GMT
Amanda Lorber is a case study in the perils that a young person faces when she becomes a reality-television star before she is old enough to vote.

Arts, Briefly: Radio’s ‘Fair Game’ to Be Canceled Mon, 26 May 2008 02:48:59 GMT
“Fair Game,” the 17-month-old weeknight public-radio show, has been canceled for financial reasons, said its producer, Public Radio International.

Web Site Puts Focus on the Fix in Sports Bets Sun, 25 May 2008 05:50:52 GMT
Betfair has alerted dozens of sports to suspicious betting, leading to inquiries in horse racing, soccer and tennis.

Scene Stealer: Indie Films, Coming to a Small Screen Near You Sun, 25 May 2008 04:14:54 GMT
A new business aims to act as a sales agent for independent filmmakers not picked up by Hollywood — with an eye to distribute content on the Web or on other on-demand services.

Cable Prices Keep Rising, and Customers Keep Paying Sat, 24 May 2008 17:09:44 GMT
The resiliency of cable in the Internet age is remarkable considering that prices have risen 77 percent since 1996.

Business Briefing | Deals: Comcast Putting 46 Cable Systems Up for Sale Sat, 24 May 2008 04:14:09 GMT
Comcast Corporation is trying to sell 46 cable systems in eight states serving 400,000 to 500,000 subscribers as it seeks to improve efficiency by selling outlying operations.

Ex-Manager on Trial in Siemens Scandal Mon, 26 May 2008 18:15:16 GMT
Reinhard Siekaczek, a former manager at the ICN fixed-line telephone network division, is the first to go on trial over alleged corruption and bribery charges.

$50 Billion Telecom Deal Falls Apart Sun, 25 May 2008 07:33:10 GMT
The world’s largest corporate deal in an emerging market, a tie-up worth nearly $50 billion between two telecommunication companies, came to a screeching halt.

Global Dreams for a Wireless Web Sun, 25 May 2008 07:35:05 GMT
An entrepreneur is trying to cover the Earth with Web access, one hot spot at a time. But his big idea is encountering equally big obstacles.

Boom Times for Brazil’s Consumers Sat, 24 May 2008 04:20:08 GMT
Thanks to a newfound economic stability and vitality, Brazil’s economy and middle class are growing, the former fueled by high commodity prices and the latter by the availability of credit.

Controversial Contractor’s Iraq Work Is Split Up Sat, 24 May 2008 05:27:55 GMT
The three-way division of the largest Pentagon contract in Iraq ends the monopoly held by KBR, which has been accused of mismanagement and exploiting its political ties to Vice President Dick Cheney.

A Bidding War for Well Equipment Maker Sat, 24 May 2008 04:17:25 GMT
A group of private equity firms increased their offer for Expro International Group to more than 1.71 billion pounds, or $3.4 billion, entering into a bidding war against Halliburton.

InBev Said to Consider Bid for Anheuser-Busch Sat, 24 May 2008 04:15:07 GMT
The Belgian beer giant is in the early stages of preparing what could be a $44.6 billion offer for Anheuser-Busch, the maker of Budweiser beer, people briefed on the matter said Friday.

Rogue French Trader May Have Had Help, Audit Finds Sat, 24 May 2008 04:26:01 GMT
A 71-page internal audit said Jérôme Kerviel might have been helped by an assistant when he entered fake trades or unwound unauthorized positions at Société Générale.

Ex-Banking Chief of Italy Faces Trial in Merger Scandal Sat, 24 May 2008 04:15:44 GMT
The former head of Italy’s central bank, Antonio Fazio, has been charged with abuse of privileged information in a case linked to a 2005 takeover scandal.

Tool Kit: Small-Business Books That Break the Mold Mon, 26 May 2008 19:12:00 GMT
Here are some books on small business that offer more than platitudes and unreachable goals.

Finding Potential for Debt in Distress Sun, 25 May 2008 03:10:47 GMT
Money managers have traditionally made profits buying distressed debt on the cheap, but individual investors can get into the game directly as well.

Fundamentally: When the ‘I’ Word Replaces the ‘R’ Word Sun, 25 May 2008 03:11:09 GMT
As the most dire recession fears have started to abate, the bond market is beginning to fret about an equally dangerous development for its future: the growing threat of inflation.

Your Money: LifeLock Identity Fraud Service Finds Skeptics Sat, 24 May 2008 05:45:48 GMT
How likely is it that an identity thief can do you real harm? And do you need to pay $100 a year for protection?

Heading Off New Account Fraud Sat, 24 May 2008 04:29:37 GMT
One of the scariest types of identity crimes is something called new account fraud. Here are a few things you can do to prevent the crime.

Shortcuts: Far From Always Being Right, the Customer Is on Hold Sat, 24 May 2008 17:09:05 GMT
Complaining about bad customer service is such a sport now that it should be an Olympic event. But how did we get there?

Ex-Fund Manager Convicted of Fraud Said to Commit Suicide Sun, 25 May 2008 21:25:39 +0000
A man convicted in a multi-million dollar investment fraud whose victims included pro football players has committed suicide in jail, according to a law enforcement official. Kirk Wright, 37, hanged himself in the Union City jail on Saturday, Betty Honey, an investigator with the Fulton County Medical Examiner’s office, told The Associated Press. Mr. Wright, of Marietta, [...]

$50 Billion Bharti-MTN Deal Falls Apart Sat, 24 May 2008 21:45:14 +0000
The world’s largest corporate deal in an emerging market, a tie-up worth nearly $50 billion between two telecommunication companies, Bharti Airtel in India and MTN Group in South Africa, came to a screeching halt Saturday. Bharti called off negotiations after MTN turned Bharti’s takeover plan upside down, proposing to take over Bharti instead. After bankers from [...]

Macklowes Strike Deal to Sell G.M. Building Sat, 24 May 2008 20:20:14 +0000
A group led by Mortimer B. Zuckerman, the head of Boston Properties, a publicly traded real estate company, is buying the General Motors Building and three other Midtown towers from the financially troubled Macklowe family for $3.95 billion. The deal, which has been brewing for months as the Macklowes sought to get out from under more [...]

B-School Sendoffs: Moguls and Vodka Fri, 23 May 2008 22:11:38 +0000
It’s graduation season at the top business schools, which brings with it the battle to claim the most prestigious keynote speaker. Captains of industry, government leaders and powerful financiers are usually the favorites to address departing students. But with the rocky economy and the rounds of layoffs on Wall Street, the best speaker this year [...]

Wrigley Unwraps Big Fee for Goldman Fri, 23 May 2008 21:32:07 +0000
Here’s a tasty morsel tucked in a late-Friday-before-the-holiday-weekend regulatory filing: Goldman Sachs stands to earn a mouth-watering $46 million in fees for its role as financial adviser to Wm. Wrigley Jr. Company in that company’s $23 billion sale to fellow candy company Mars. The fee was disclosed in a preliminary proxy statement that Wrigley filed [...]

J. C. Flowers Bids for Stake in Germany’s Hypo Fri, 23 May 2008 19:13:20 +0000
J. C. Flowers, the private equity firm, on Friday unveiled a 1.1 billion euros ($1.7 billion) offer for a stake in German subprime-hit investment bank Hypo Real Estate. JC Flowers, leading a group of investors, confirmed it would offer 22.50 euros a share, a 25 percent premium, for up to 24.9 percent of Hypo Real pushing [...]

Place Your Bets: Buyout Team or Big Red? Fri, 23 May 2008 18:25:51 +0000
The battle between financial and strategic buyers has broken out on a new front: Expro, a relatively small oil-service firm based in the United Kingdom. On one side is a consortium of financial investors that includes Goldman Sachs and the British private equity firm Candover. On the other side sits the oil-service giant Halliburton, or [...]

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