News 2008-05-29 Andanh.com

In Stock Plan, Employees See Stacked Deck Thu, 29 May 2008 04:49:20 GMT
A group of former employees are accusing U.S. Sugar insiders of scheming to enrich themselves by buying workers’ shares back on the cheap.

Deals Fade, and Airlines Look to Cut Thu, 29 May 2008 05:01:14 GMT
As additional mergers in the airline industry look less likely, American carriers face a future of making further cuts to survive in an era of soaring jet-fuel prices.

Natural Gas in Pause Mode Thu, 29 May 2008 04:57:26 GMT
Huge new terminals and empty tankers built in anticipation of a boom in natural gas imports await an energy answer that may not come.

Gala Auction Feels a Chill From Wall Street’s Slump Thu, 29 May 2008 04:59:06 GMT
At the 2008 Robin Hood Foundation benefit, hedge fund managers donated $56.5 million to charity. But many of the market wizards are making less these days — and they are giving away less, too.

Web Start-Up a Joint Israeli-Palestinian Venture Thu, 29 May 2008 05:17:37 GMT
G.ho.st, an Internet start-up that aims to give users a free, Web-based virtual computer, is being built by colleagues on opposite sides of the Israeli-Palestinian divide.

Exxon Rejects Proposals Backed by Rockefellers Thu, 29 May 2008 05:03:54 GMT
Rex W. Tillerson, Exxon Mobil’s chairman and chief executive, beat back a shareholder effort to take away one of his jobs, avoiding a serious rebuke to his authority.

Strike Settled, American Axle Details Layoff Plans Thu, 29 May 2008 05:01:55 GMT
Fewer than half of the hourly employees at American Axle who return to work this week after going on strike in February will still have jobs in a year, executives said.

U.N. Report Seeks Action to Address Food Crisis Thu, 29 May 2008 05:04:33 GMT
In anticipation of a global summit on the food crisis, the U.N. called on world leaders to agree to urgent measures to ease demand for grains and alleviate high food prices.

Shifting Careers: Hot Ticket in B-School: Bringing Life Values to Corporate Ethics Thu, 29 May 2008 05:07:48 GMT
These days, business schools teach that leadership exists at all levels, and corporate life should be about much more than just making money.

Ruling Near on Boeing-Airbus Dispute Thu, 29 May 2008 05:15:00 GMT
Ahead of an expected W.T.O. ruling on subsides, European officials suggested this week that they would help fund the Airbus A350, the rival to the Boeing 787.

Studios in a Tentative Deal With TV Actors in One Union, but Uncertainty Remains Thu, 29 May 2008 05:02:59 GMT
The agreement between the American Federation of Television and Radio Artists and the producers builds pressure on a bigger actors union, the Screen Actors Guild, to craft a similar solution.

Advertising: Entering Virtual Worlds for Real-Life Pitches Thu, 29 May 2008 05:04:27 GMT
Starting in June, people who play The Sims 2 will be able to buy a “stuff pack” that lets them decorate their simulated families’ homes with Ikea furniture.

Durable Goods Show a Smaller Dip Than Was Forecast Thu, 29 May 2008 05:06:04 GMT
Orders to U.S. factories for big-ticket manufactured goods fell by a smaller-than-expected amount in April, with many sectors outside of transportation showing strength.

DHL Talks With U.P.S. About Carrying U.S. Cargo Thu, 29 May 2008 05:11:55 GMT
U.P.S. said that it was working toward an agreement with DHL’s Express unit in America to carry air freight for some DHL units within the United States.

Countrywide Officer Won’t Join Bank Thu, 29 May 2008 03:44:38 GMT
Bank of America said Wednesday that the chief operating officer of Countrywide Financial, David E. Sambol, would retire rather than take over the bank’s mortgage operations.

Mishkin to Leave Fed in August Thu, 29 May 2008 05:06:55 GMT
The Federal Reserve said that a governor, Frederic S. Mishkin, was resigning effective Aug. 31. Mr. Mishkin said that he would return to his teaching post at Columbia University.

Coca-Cola Bottler Predicts a Fall in Profit Thu, 29 May 2008 05:12:03 GMT
The beverage bottler Coca-Cola Enterprises said it expects second-quarter profit to fall by nearly 10 percent, citing the weak North American economy.

Citing Energy Costs, Dow Raises Prices Thu, 29 May 2008 05:19:06 GMT
The chemical giant, which supplies a broad swath of industries, from agriculture to health care, said that it would raise its prices by up to 20 percent to offset the soaring cost of energy.

Faulting Europe for Tariffs, U.S. Takes Its Case to World Trade Organization Thu, 29 May 2008 05:14:48 GMT
The United States has filed a complaint with the World Trade Organization over European tariffs on high-tech goods like computer monitors and printers.

Increase in Oil Prices Lifts Energy Sector Thu, 29 May 2008 05:20:45 GMT
Stocks rose for a second day as a rebound in oil prices set off a late-day rally in energy shares, and a better-than-forecast report on durable goods orders lifted industrial companies.

Former EADS Chief Detained in Inquiry Thu, 29 May 2008 05:14:15 GMT
Noël Forgeard, the former co-chief of European Aeronautic Defense & Space, was detained by the French police for questioning related to an insider trading investigation.

Ostensibly Independent, a Charity Is U.S. Sugar’s Swing-Vote Shareholder Thu, 29 May 2008 05:43:53 GMT
On the surface, the Mott Children’s Health Center appears to hold a pivotal stake in U.S. Sugar.

$3.99 Pump Ceiling, and Gas Sells by Half-Gallon Thu, 29 May 2008 05:33:43 GMT
Using pumps so old that the meters go only as high as $3.99 a gallon, some service stations are pricing gasoline by the half-gallon.

Flexing Your Buying Power: Dress for Less and Less Thu, 29 May 2008 04:11:56 GMT
The cost of gasoline and eggs may be soaring, but most clothing has gotten cheaper in the last decade.

State of the Art: Digital Life for Analog Keepsakes Thu, 29 May 2008 04:52:28 GMT
Here are three new (somewhat complicated) products to help convert photos, tape cassettes and LPs to digital files.

DealBook: G.E. Names Possible Suitors for Appliance Business Wed, 28 May 2008 16:23:01 GMT
South Korea’s LG Electronics, China’s Haier Electronics Group, Mexico’s Mabe and Turkey’s Arcelik were named as contenders to buy the unit, which is valued at between $4 billion and $8 billion.

Goldman’s Spac Withdraws Its I.P.O. Wed, 28 May 2008 23:32:32 +0000
Even Goldman Sachs can’t work miracles. Liberty Lane Acquisition, the blank-check company that the securities firm sought to take public, said after the market close on Wednesday that it was withdrawing its initial public offering “at this time.” The reason it cited in its terse statement: market conditions. Despite being Goldman’s first special purpose acquisition company, a [...]

A Few Things to Think About Wed, 28 May 2008 22:13:24 +0000
I must admit that I am still a bit too sun-dried after Memorial Day weekend to focus on events in the market. So, instead of anything too lengthy, here are some of my random deal-related thoughts: Who will Belgium’s InBev acquire? Today, it might be SABMiller instead of Anheuser-Busch. If it sounds like a reality [...]

Exxon’s Texas-Size War Chest Wed, 28 May 2008 21:23:20 +0000
The oil industry is known to be very conservative. And Exxon Mobil, the world’s largest independent oil company, may be the most conservative of the bunch. It refuses to invest in projects that would lower its industry-leading return on capital employed, which is now around 35 percent. Rather than use its phenomenal cash flow for [...]

Microsoft Executive Says Yahoo Would ‘Accelerate’ Online Plans Wed, 28 May 2008 17:35:51 +0000
Microsoft’s attempts to strike a deal with Yahoo is an “accelerator” of its online strategy, but not the sole answer to advancing its Internet vision, the company’s top software executive said on Wednesday. Ray Ozzie, Microsoft’s chief software architect, said at a Bernstein investor conference that a potential agreement with Yahoo would help Microsoft advance the [...]

Ex-EADS Chief Detained in Inquiry Wed, 28 May 2008 17:28:47 +0000
Noël Forgeard, the former co-chief executive of European Aeronautic Defense and Space, was detained by the French police on Wednesday for questioning related to an insider trading investigation. “He was called for questioning this morning with regard to his probable placement in detention,” a spokeswoman for Xavière Simeoni, the judge overseeing the case, said Wednesday. Mr. Forgeard’s [...]

The Sundance Subplot: Taxes Wed, 28 May 2008 16:51:16 +0000
Cablevision has announced a couple of purchases lately that made many analysts scratch their heads and ask, “Why?” The cable company’s $650 million purchase of Newsday, the Long Island, N.Y., daily newspaper, was one. The other was its $496 million deal to buy the Sundance Channel, known for airing independent films, from a group including [...]

A Modest Proposal for Private Equity Wed, 28 May 2008 15:30:50 +0000
Guy Hands, the head of British buyout firm Terra Firma Capital Partners, has some unorthodox advice for his private equity peers: Give the money back. In his quarterly letter to investors, Mr. Hands lays out what he sees as the three options facing the buyout industry during the current economic downturn. Without naming names, he is [...]

Elvis’s Price Tag Takes a Hit Wed, 28 May 2008 14:21:21 +0000
Just a few weeks ago, it was Clear Channel Communications. Today, it’s the King. CKX, the entertainment company whose assets include the rights to Elvis Presley’s image (but not his music), said Wednesday it agreed to be taken private at a price well below what it was offered in June 2007. The move came about two [...]

SABMiller, InBev Said to Start Talks About a Tie-Up Wed, 28 May 2008 12:09:04 +0000
SABMiller has quietly indicated to Belgium’s InBev that it would formally consider a 15-pound-a-share bid, valuing the business at 22.6 billion pounds ($44.6 billion), The Financial Times’s Alphaville reported on Wednesday. The merger of the two largest international breweries would be a potential backup plan should InBev fail to obtain its desired prize, Anheuser-Busch, the blog [...]

For Bear, Fear in the Market Was Fatal Wed, 28 May 2008 11:56:14 +0000
How did Bear Stearns burn through $15 billion in cash reserves in a matter of days? The Wall Street Journal, in the second part of a series on the securities firm’s collapse, looks at how fear and rumor fed upon themselves in March, leading banks to pull away and hedge funds to take their business [...]

Pre-K System Faulted as Confusing to Parents Thu, 29 May 2008 04:55:35 GMT
A new application process intended to simplify pre-kindergarten enrollment has left parents confused and angry about options for their children, New York City’s public advocate said.

Fitness: Yogi, Take Me to a Higher Place Thu, 29 May 2008 04:50:19 GMT
Many seasoned yoga practitioners report having a hard time finding challenging classes.

If It’s a Challenge You Want Thu, 29 May 2008 03:15:18 GMT
Seeking a deeper yoga practice? Here are a range of advanced classes that are favorites among high-level students.

Seven Scientists Win First Kavli Prizes Thu, 29 May 2008 05:01:07 GMT
The winners of the Kavli prizes, which consist of $1 million each in the fields of astrophysics, nanoscience and neuroscience, were announced Wednesday.

Now, Add Pimples to the List Thu, 29 May 2008 04:14:52 GMT
AS if packing on dozens of pounds isn’t bad enough, many pregnant women revert to their high school years, dermatologically speaking. It’s no surprise why they get pimples, really: During pregnancy, the body manufactures high levels of estrogen and progesterone. In turn, oil glands produce large quantities of sebum, which clogs oil glands, trapping bacteria and causing blackheads.

Skin Deep: Stretch Marks, an Unblessed Event Thu, 29 May 2008 04:15:18 GMT
Can stretch marks really be prevented? The American College of Obstetricians and Gynecologists says no.

Monkeys Control a Robot Arm With Their Thoughts Thu, 29 May 2008 04:28:33 GMT
The report in the journal Nature is the most striking demonstration of brain-machine interface technology.

After ’05 Uzbek Uprising, Issues Linger for West Thu, 29 May 2008 04:50:11 GMT
Western governments say that further ostracizing the regime would increase instability in the region.

Rival to Iran’s President Is Elected Speaker Thu, 29 May 2008 04:14:10 GMT
The move was a strong signal of growing impatience with President Mahmoud Ahmadinejad’s economic policies.

Britain Joins a Draft Treaty on Cluster Munitions Thu, 29 May 2008 05:16:28 GMT
The sudden shift by Prime Minister Gordon Brown created fresh pressures on the United States, which had counted Britain as one of its staunchest allies in opposing the ban.

River Threatens China Quake Survivors Thu, 29 May 2008 05:27:22 GMT
With millions of people downstream threatened, soldiers and engineers are at work as evacuations continue.

Burmese Economy Is an Obstacle to Aid Thu, 29 May 2008 04:51:31 GMT
Foreign aid workers face administrative hurdles erected by the junta and an economy warped by years of misrule.

Israeli Defense Chief Asks Olmert to Quit Thu, 29 May 2008 04:12:02 GMT
Ehud Barak urged Ehud Olmert to remove himself from his post pending the outcome of a corruption inquiry.

South Africa Weighs Plan to Shelter Refugees Thu, 29 May 2008 05:35:24 GMT
In the wake of a convulsion of violence against foreigners, the South African authorities were considering camps to house tens of thousands of people who fled their homes.

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