News 2008-06-20 Andanh.com

Travelers Shift to Rail as Cost of Fuel Rises Sat, 21 Jun 2008 03:08:25 GMT
Amtrak ridership has increased to record levels, and some of the popular long-distance routes are sold out in advance.

U.S. May Free Up More Land for Corn Crops Sat, 21 Jun 2008 02:55:27 GMT
Jim Heitman at his farm Friday in Elsberry, Mo., Because of flooding, he says, he has planted only 50 acres of corn this year compared with 600 last year.

Ford Delays New Pickup and Reduces Production Sat, 21 Jun 2008 03:10:58 GMT
Unsold 2008 F-150 pickup trucks at a dealership near Denver. Ford is delaying the new model until the current models sell.

Chief of Mexican Brewery Quits Busch Board Sat, 21 Jun 2008 02:55:22 GMT
The resignation of the chief executive of the Mexican maker of Corona beer that is 50 percent owned by Anheuser-Busch, may play a pivotal role in a possible takeover battle with InBev.

Your Money: 8 Reasons You Should Not Expect an Inheritance Sat, 21 Jun 2008 03:08:42 GMT
Some transfers of wealth are made while the parents are alive, leaving little to pass down after death.

Why Is Oil So High? Pick a View Sat, 21 Jun 2008 02:55:22 GMT
What confounds many experts is that the price of oil seems to be changing much faster than the world is changing.

Stocks Decline as Price of Oil Rises Sharply Sat, 21 Jun 2008 02:55:26 GMT
The Dow Jones industrials fell below 12,000 as a host of options and futures contracts hit their expiration dates.

Banks Trimming Limits for Many on Credit Cards Sat, 21 Jun 2008 03:13:58 GMT
After fostering the explosive growth of consumer debt in recent years, financial companies are reducing the credit limits on cards held by millions of Americans, often without warning.

For Chinese, the Reality of Higher Gas Prices Sat, 21 Jun 2008 03:07:01 GMT
Cars lined up Thursday at a gas station in Wuhan, China, before the government let companies increase prices up to 18 percent.

Beef Furor Provokes a Turnover in Seoul Sat, 21 Jun 2008 01:49:21 GMT
South Korean protesters carrying a poster of President Lee Myung-bak at a rally against U.S. beef imports in Seoul on Friday.

Saturday Interview: Oil’s Perspective on What’s Behind the Energy Crisis Sat, 21 Jun 2008 03:04:26 GMT
David J. O’Reilly

Market Values: Pinpointing Bargains, Big or Small Sat, 21 Jun 2008 02:03:27 GMT
Two successful portfolio managers, one oriented toward growth and the other toward value, offer ideas about where stock market bargains might be found.

Off the Charts: Price Increases Put Pressure on the Fed Sat, 21 Jun 2008 02:53:32 GMT
The Federal Reserve knows that its credibility as a central bank would be damaged if investors concluded it was not determined to combat the recent rise in prices.

Shortcuts: Choosing the Right Gift for a Graduate (Just Don’t Send a Check) Sat, 21 Jun 2008 02:56:19 GMT
The graduation season is upon us, and gifts now seem as much a part of the ceremony as the diploma.

Canadian Court Allows Phone Buyout to Proceed Sat, 21 Jun 2008 02:55:22 GMT
The Supreme Court of Canada ruled in favor of Bell Canada and its purchasers on Friday, allowing the largest leveraged buyout in history to proceed.

Barclays Said to Be Seeking Capital From Japanese Rival Sat, 21 Jun 2008 00:31:41 GMT
Barclays, which is seeking funds to replenish its capital, is said to be talking with Sumitomo Mitsui Financial Group about a cash infusion of close to a billion dollars.

Assets Rise at Charity Arm of Major Fund Sat, 21 Jun 2008 02:03:27 GMT
The funds of the charity arm of TCI, the hedge fund that has been involved in a battle with executives at the transportation company CSX, have more than doubled in its previous fiscal year.

What’s Offline: Avoiding the Gas Pumps Sat, 21 Jun 2008 02:56:19 GMT
The constant news coverage of gas prices at more than $4 a gallon has motorists — and magazine editors — looking for alternatives to automobiles.

Fake Gems, Genuine Appeal Sat, 21 Jun 2008 02:55:29 GMT

Talking Business: A.M.D. and Its War With Intel Sat, 21 Jun 2008 02:55:27 GMT
It seemed inevitable that the Federal Trade Commission would open an antitrust investigation into Intel — even if getting to the bottom of it might be a very squishy notion.

At Yahoo, the Exodus Continues Fri, 20 Jun 2008 16:07:32 GMT
The trickle of departing senior executives has turned into a flood since Yahoo’s talks with Microsoft ended and it signed a search deal with Google.

Bits: The A.P. Asserts Tough (and Still Secret) View of Copyright on Blogs Fri, 20 Jun 2008 22:44:16 GMT
In a fight with a social news site, The Associated Press has asserted that Internet sites cannot quote the headline and first paragraph of its articles.

College Football: NBC Remains Faithful to Struggling Notre Dame Fri, 20 Jun 2008 06:19:06 GMT
Notre Dame and NBC Sports reached a deal Thursday guaranteeing that the university’s home football games will remain on the network through the 2015 season.

Chairman of Live Nation Is Said to Be Preparing to Resign Fri, 20 Jun 2008 04:32:43 GMT
The chairman of the concert promoter is said to be negotiating to resign after an internal battle over the company’s strategy of signing expensive deals with artists like Madonna and Jay-Z.

Advertising: For Olympics, Lenovo Steps Up to World Stage Fri, 20 Jun 2008 04:42:32 GMT
Lenovo computer technicians testing computers in the Beijing National Aquatics Center. A sponsor of the Olympics, Lenovo is providing more than 30,000 pieces of equipment.

Temporary Replacement at ‘Meet the Press’ Fri, 20 Jun 2008 07:17:56 GMT
Tim Russert and Brian Williams moderating the Democratic Presidential Candidates Debate in Las Vegas on January 15.

The Times Names an Ad Executive Fri, 20 Jun 2008 18:40:44 GMT
Paul Smurl, executive director for strategy and planning at The New York Times, has been named vice president for advertising.

The Trouble With Markets for Carbon Fri, 20 Jun 2008 05:00:21 GMT
As the United States moves toward taking action on global warming, practical experience with carbon markets in the European Union raises the question if such systems ever work.

From the Gulf, Money for Towers in London Fri, 20 Jun 2008 04:44:56 GMT
Heron Tower, at 110 Bishopsgate, is under construction.

Europe Plays Down Setback in U.S. Tanker Bid Fri, 20 Jun 2008 04:44:04 GMT
Seeking to avoid a new trans-Atlantic trade clash, EADS played down a G.A.O. report that found flaws in its bid to make refueling tankers with its U.S. partner, Northrop Grumman.

Bank of England Gains New Oversight Powers Fri, 20 Jun 2008 03:37:53 GMT
The central bank announced a revamp of its leadership as it was granted enhanced powers to manage financial crises in the biggest overhaul of Britain’s financial regulatory system in a decade.

Ex-UBS Banker Pleads Guilty in Tax Evasion Fri, 20 Jun 2008 04:54:45 GMT
In his plea, Bradley C. Birkenfeld agreed to cooperate with prosecutors in their investigation of UBS practices, which may reveal the names of scores of wealthy American clients.

Oil Field Operation Suspended After Attack by Nigerian Rebels Fri, 20 Jun 2008 05:18:52 GMT
It was the first time that militants had managed to hit Royal Dutch Shell’s deep offshore platform in the Niger Delta region.

3 Ex-Nortel Executives Are Accused of Fraud Fri, 20 Jun 2008 07:20:39 GMT
The charges stem from an accounting scandal in April 2004 that set off a series of accounting restatements that undermined investor confidence in the company.

World Business Briefing: Britain: Chief Out at Woolworths Thu, 19 Jun 2008 05:23:22 GMT
Woolworths Group, the British retailer, said its chief executive, Trevor Bish-Jones, would leave after six years in the position.

Funds Can Vote CSX Shares, Appeals Court Rules Fri, 20 Jun 2008 21:33:43 +0000
Two hedge funds engaged in a proxy fight with CSX cannot be prevented from voting their shares in the railroad operator, a federal appeals court ruled on Friday. (Download the document here.) The Second Circuit Court of Appeals said that The Children’s Investment Fund and 3G Capital Partners can vote their shares pending an appeal of [...]

The Big Decision: Court Says Bell Canada Sale Can Go Ahead Fri, 20 Jun 2008 20:46:43 +0000
From Ian Austen, DealBook’s colleague in Canada: The largest leverage buyout in history skirted a potentially crushing blow when the Supreme Court of Canada ruled in favor of Bell Canada and its purchasers on Friday. But the $52 billion buyout still faces uncertainty over its financing and, more broadly, questions about the value of the company. In [...]

Social Networking on Wall Street Fri, 20 Jun 2008 19:36:56 +0000
LinkedIn, a Web site that professionals use to make contacts and trade tips, created quite a stir this week. It announced that it raised $53 million in funding, primarily from Bain Capital Ventures, implicitly valuing the four-year-old company at an impressive $1 billion. It was only the latest evidence that social networks for the more-serious [...]

The Team Behind the Bear Stearns Charges Fri, 20 Jun 2008 18:29:38 +0000
As Thursday brought the first criminal indictments tied to the subprime mortgage crisis, attention inevitably has swung to the prosecutors who are leading the charge. In the cases of Ralph Cioffi and Matthew Tannin, two former Bear Stearns hedge fund managers, their chief adversary is Benton J. Campbell, the United States attorney for the Eastern District [...]

Kerkorian’s Ford Stake: A Deeper Shade of Red Fri, 20 Jun 2008 18:21:41 +0000
Kirk Kerkorian is a savvy — and wealthy — investor, but lately he has shown an uncanny habit of buying Ford Motor shares just before they take a dive. The stock fell sharply in the weeks after his investment vehicle, Tracinda, made a tender offer for the shares in May. And on Friday, one day [...]

Hexion’s Damages Claim Fri, 20 Jun 2008 15:16:11 +0000
I’ve been mulling over the argument that Hexion Specialty Chemicals made in this week’s complaint that its damages are limited under the merger agreement to only $325 million. Upon reflection, I think this argument, though not compelling, is stronger than I initially suspected. Hexion argues that since financing for its proposed merger with Huntsman is unavailable, [...]

Lots of Buzz About Anheuser-Busch Fri, 20 Jun 2008 14:59:17 +0000
As the board of Anheuser-Busch met in St. Louis on Friday to consider Inbev’s unsolicited takeover bid, there were quite a few notable developments in this cross-border beer saga. For one thing, a longtime director of Anheuser-Busch abruptly stepped down. In a short press release on PRNewswire Friday morning, Anheuser-Busch gave no reason for the departure [...]

Bank Stocks Decline Amid Merrill Chatter Fri, 20 Jun 2008 12:27:11 +0000
From Louise Story, a DealBook colleague: Friday is a “quadruple witching day,” which means that lots and lots of Merrill Lynch options are expiring. Such a day only comes usually every third Friday in March, June, September and December — and it always leads to tons of volatility in the market, as traders unwind positions and [...]

For Wall Street Banks, a Question of Value Fri, 20 Jun 2008 11:35:40 +0000
The case against two former hedge fund managers at Bear Stearns spotlights one of the most vexing problems confronting Wall Street as the credit crisis plays out: How to value tricky investments linked to subprime mortgages and other risky debt. The two executives who oversaw the now-bankrupt funds, Ralph R. Cioffi and Matthew M. Tannin, did [...]

Girlfriend of Fugitive Fund Manager Is Charged Fri, 20 Jun 2008 11:27:32 +0000
Federal authorities have arrested a suspect in the disappearance of Samuel Israel III, the fugitive former manager of the Bayou hedge fund who they say faked his suicide on the day he was to report to prison last week and is now believed to be on the run. The suspect, Debra Ryan, the girlfriend of Mr. [...]

Land a Job, Then What? Graduates Adjust to Life With No Going Back Sat, 21 Jun 2008 01:57:43 GMT
New college graduates lucky enough to be gainfully employed sometimes find their joy tempered by the realization that they no longer will have summers “off.”

House Approves Veterans’ Education Aid in a Deal on War Spending Fri, 20 Jun 2008 19:55:13 GMT
The House voted to offer military veterans what amounts to a free college education in a package that finances the war in Iraq through the end of President Bush’s term.

Spike in School’s Pregnancies Leads to Report That Some Resulted From Girls’ Pact Fri, 20 Jun 2008 05:35:47 GMT
At least 17 girls at the public high school in Gloucester, Mass., are expecting babies, and a report says nearly half became pregnant after making a pact to do so and raise the children together.

Big City: A School Steeped in Tolerance Adds a Course That Tests It Fri, 20 Jun 2008 05:39:49 GMT
Anna Swank, 26, will teach Arabic at Friends Seminary.

China Presses Injured Athletes in Quest for Gold Fri, 20 Jun 2008 19:37:55 GMT
Hu Jia, left, and Yang Linguang competing in May in Florida.

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