News 2008-06-25 Andanh.com

Approval Is Near for Bill to Help U.S. Homeowners Wed, 25 Jun 2008 04:29:52 GMT
Congress is poised to pass a huge package of housing legislation, including a refinancing plan aimed at rescuing homeowners in danger of foreclosure.

Rethinking the Country Life as Energy Costs Rise Wed, 25 Jun 2008 04:53:24 GMT
A new home, featuring a six-car garage, rises on a former cattle ranch in Parker, Colo., a distant suburb of Denver. As gas prices climb, people who once considered an exurban commute are now considering center-city living.

Illinois to Sue Countrywide Wed, 25 Jun 2008 04:51:00 GMT
The state says the lender defrauded borrowers by selling mortgages that soon went into foreclosure.

Congress Looks for a Culprit for Rising Oil Prices Wed, 25 Jun 2008 04:46:34 GMT
Walter L. Lukken, center, the acting chairman of the Commodity Futures Trading Commission, prepared to testify Monday.

Hidden Sex Scenes Draw Ho-Hum, Except From Lawyers Wed, 25 Jun 2008 04:46:02 GMT
Theodore H. Frank, a lawyer with the American Enterprise Institute, a conservative policy research organization, objects to a settlement over sex scenes in a Grand Theft Auto video game.

Dow Chemical Raises Prices for Second Time in a Month Wed, 25 Jun 2008 04:42:12 GMT
A Dow Chemical complex in Midland, Mich. The company, which increased prices by 20 percent last month, now says costs are forcing a second increase, this time by up to 25 percent.

Florida Buying Big Sugar Tract for Everglades Wed, 25 Jun 2008 04:30:29 GMT
An agreement between Florida and United States Sugar could help restore water flows through the Everglades’ mangrove-lined creeks.

Consumer Confidence Declines to a 16-Year Low Wed, 25 Jun 2008 04:55:01 GMT
Jacques Brevery of A&C Signs put a for-sale sign on a home in Miami, where the value of single-family homes has declined by 26 percent in the last 12 months. Values fell again in April.

Investor, a Socialite, Is Charged With Fraud Wed, 25 Jun 2008 04:56:52 GMT
Raffaello Follieri.

Charter Won’t Track Customers’ Web Use Wed, 25 Jun 2008 04:56:41 GMT
The pilot information-gathering program, meant to offer advertisers the ability to tailor ad placement based on individual viewing habits, is being dropped on customer concerns.

Low Mexican Gas Prices Draw Americans Wed, 25 Jun 2008 05:02:34 GMT
George Terrazas of El Paso made it a point to go to Ciudad Juárez, Mexico, the other day so that he could buy $2.66 gasoline.

In Overhaul, Disney.com Seeks a Path to More Fun Wed, 25 Jun 2008 05:01:16 GMT
Among the changes on the new Disney.com, visitors can use a cellphone to create a butterfly pet for an avatar in Pixie Hollow, a virtual world built around the character Tinker Bell.

Brazil Seizes Livestock to Protect Rain Forest Wed, 25 Jun 2008 04:59:14 GMT
Cattle grazed last November in a deforested area of Assis, in the Brazilian Amazon. Ranchers have been blamed for deforestation.

Advertising: Citigroup Considers Repealing a Pledge, and the Slogan With It Wed, 25 Jun 2008 05:03:10 GMT
The financial giant had promised that it would no longer reserve the right to raise interest rates on already-issued credit cards.

Obama Assails Remarks by McCain on Offshore Oil Drilling Wed, 25 Jun 2008 04:53:19 GMT
Senator Barack Obama at a campaign event Tuesday at Springs Preserve in Las Vegas.

Auctions Are Aiding Sales in a Weakened Market Wed, 25 Jun 2008 03:52:21 GMT
Condominiums in the Solaire in Orlando, Fla., were auctioned.

Nokia to Open Access to Mobile Software Wed, 25 Jun 2008 04:55:51 GMT
Nokia said that it would make the software that runs its phones available to outside developers, as the company tries to head off competition and stimulate the use of mobile music, video and e-mail.

U.S. High Tech Said to Slip Wed, 25 Jun 2008 04:56:21 GMT
A report said that the U.S. is in danger of losing its high-tech edge as jobs go unfilled, in part a consequence of too few green cards or work visas available to talented foreign students.

Kodak to Repurchase $1 Billion in Shares Wed, 25 Jun 2008 02:16:46 GMT
Eastman Kodak’s move to buy back about a quarter of its outstanding stock sent its shares up sharply.

Service From Google Gives Crucial Data to Ad Buyers Wed, 25 Jun 2008 05:03:46 GMT
Google’s new service will allow media buyers to identify sites where their display advertisements might work best, judged on criteria like demographics and traffic.

NYSE Buys 25% of Qatar Securities Market Wed, 25 Jun 2008 04:51:45 GMT
The deal gives NYSE Euronext a lead in the race against its British and German rivals to become a truly global stock exchange at a time when growth has slowed in their home markets.

Nissan C.E.O. Says Close to Raising Prices in Japan Wed, 25 Jun 2008 04:47:21 GMT
Carlos Ghosn, the automaker’s chief executive, said the move was justified by the surge in the cost of raw materials such as steel.

Bronx Groups Demand a Voice in a Landmark’s Revival Wed, 25 Jun 2008 05:05:34 GMT
The Kingsbridge Armory covers a full block from Jerome Avenue to Reservoir Avenue and West 195th Street to Kingsbridge Road in the Bronx.

A Tentative Pact for Pilots of Merging Airlines Wed, 25 Jun 2008 04:52:27 GMT
Negotiators for pilots at Delta and Northwest said they had a tentative agreement with Delta management on a joint contract to cover both pilot groups when the companies merge this year.

Olive Garden Helps Its Parent to Higher Profit Wed, 25 Jun 2008 01:21:10 GMT
Darden Restaurants, parent of the Olive Garden and Red Lobster restaurant chains, posted a higher quarterly profit on Tuesday.

Chrysler Taps a $2 Billion Credit Line Wed, 25 Jun 2008 01:18:32 GMT
The credit line was a condition of its sale last year from Daimler to Cerberus Capital Management.

Kroger’s Earnings Surpass Forecasts Wed, 25 Jun 2008 02:20:19 GMT
The grocery chain was helped by an emphasis on lower prices, gasoline discounts and other efforts to appeal to money-conscious consumers.

Bid for Australian Energy Company Turns Hostile Wed, 25 Jun 2008 04:41:35 GMT
Drillers at Origin Energy’s Spring Gully coal seam gas operation in Queensland state in Australia. Origin said one BG buyout offer was too low, in part because of its coal seam gas reserves.

Waning Confidence Sends Shares Lower Wed, 25 Jun 2008 01:49:22 GMT
Wall Street ended an erratic session moderately lower Tuesday as concerns grew about corporate profits and the effect of high fuel costs on consumers.

Korean Court Clears Firm of Stock Manipulation Wed, 25 Jun 2008 02:23:45 GMT
A South Korean high court cleared the American private equity firm Lone Star of manipulating the share price of the former credit card unit of the Korea Exchange Bank.

Economic Scene: High Medicare Costs, Courtesy of Congress Wed, 25 Jun 2008 04:48:45 GMT
Medicare pays $110 for a walker that Wal-Mart sells for $60, and medical equipment makers would like to keep it that way.

World Business Briefing | Europe: Britain: Ad Company’s Sales Growth Slows Wed, 25 Jun 2008 02:34:28 GMT
The WPP Group, an advertising company, said sales growth slowed in the first five months of the year as business in Western Europe continued to lag behind other regions.

The Lede: Imus Explains Racial Comments Tue, 24 Jun 2008 17:01:37 GMT
On his show Tuesday morning, Mr. Imus offered a longer explanation for his remarks concerning Adam Jones, the N.F.L. player.

World Business Briefing | Asia: India: Central Bank Tightens Credit by Raising Rate Wed, 25 Jun 2008 02:35:22 GMT
India’s central bank raised its benchmark lending rate to its highest in six years and increased banks’ reserve requirements to fight 11 percent inflation.

World Business Briefing | Europe: Britain: Home Loan Approvals Fall Sharply Wed, 25 Jun 2008 02:36:17 GMT
New British home loan approvals fell at their sharpest annual rate in at least a decade, reaching a record in May, raising fears that the housing slowdown was escalating.

World Business Briefing | Americas: Canada: Toronto-Dominion Buys Lending Unit Wed, 25 Jun 2008 02:36:57 GMT
The Toronto-Dominion Bank said that it would acquire a unit of ABN Amro Bank this summer for an undisclosed amount.

Tool Kit: Making a Case for Partnership Pay Tue, 24 Jun 2008 18:27:20 GMT
Small-business owners explore the possibilities of variable pay for employees. Should workers take some of the risks in return for sharing in a company’s success?

Lehman Keeps Reshuffling Its Deck Tue, 24 Jun 2008 21:56:14 +0000
The investment bank announced four new executive postings Tuesday, as it continues to try to convince the markets that things are looking up. The announcement comes 12 days after the bank ousted its chief financial officer, Erin Callan, 42, and its president, Joseph Gregory, 56. At that time, Ian Lowitt, 44 replaced Ms. Callan and Herbert [...]

False Alarm: Microsoft Is NOT in Talks with Yahoo Again Tue, 24 Jun 2008 18:14:01 +0000
Yahoo ’s shares surged Tuesday afternoon after TechCrunch reported that Microsoft is back in talks to buy the company. Yahoo’s stock was up more than 2 percent on the news. However, people close to both companies, told DealBook that neither side was in negotiations over a merger. Microsoft has not made a new bid for [...]

Alltel’s Deals That Might Have Been Tue, 24 Jun 2008 15:19:04 +0000
Alltel may be the subject of two successive takeovers over the past year, including its recent sale to Verizon Wireless for $28 billion. But before those, the nation’s fifth-largest cellphone service provider sought to strike a few other deals — with itself as the buyer. Scott Ford, Alltel’s chief executive, told The Arkansas News Bureau that [...]

A History of Wall Street Layoffs Tue, 24 Jun 2008 12:10:45 +0000
Wall Street has seen its fair share of bloodletting over the years, but this latest round brought about by the credit crunch is shaping up to be one of the worst in recent memory. So far, banks and brokerages have announced the dismissals of more than 83,000 employees worldwide – with a large chunk coming [...]

Banks Said to Still Push for Bell Canada Changes Tue, 24 Jun 2008 11:58:23 +0000
The Bell Canada buyout may have received a stay of execution from the Supreme Court of Canada, but the private equity deal remains far from done. Shares in the Canada telecom giant closed up 5.2 percent in New York and 5.7 percent in Toronto as investors proved relieved by the legal news. But the banks committed [...]

SunTrust ‘Now Worth More Dead Than Alive,’ Analyst Says Tue, 24 Jun 2008 11:38:08 +0000
The weather in Atlanta has reached the mid-90s in recent days, but that doesn’t compare to the heat that SunTrust Banks is feeling. The Atlanta-based bank’s stock has fallen nearly every day for weeks, and now Richard X. Bove, the ubiquitous bank analyst at Ladenburg Thalmann, has declared the firm “now worth more dead than [...]

Auction to Break Bread With Buffett Kicks Off Tue, 24 Jun 2008 11:26:20 +0000
Early bids are in for a charity lunch with billionaire investor Warren E. Buffett. By Tuesday morning, the top bid was $77,100, but the auction is likely to fetch far more before it wraps up late Friday. Last year’s winning bidder forked out more than $650,000 for lunch with Mr. Buffett and up to seven others [...]

Yoono Adds $4 Million to V.C. Haul Tue, 24 Jun 2008 11:18:49 +0000
Yoono, the social network browser plugin that relaunched in May, said that it has raised a $4 million extension to their Series A funding round led by AGF Private Equity. The company also announced that it has entered public beta. TechCrunch noted that Yoono has existed for a number of years, but has recently reinvented [...]

Will More Bankers Take the Private Equity Plunge? Tue, 24 Jun 2008 11:15:26 +0000
The many investment bankers from Citigroup and Goldman Sachs getting pink slips this week will be thrust into a job market already saturated with thousands of unemployed bankers. Where will they go, The Deal wonders? Many of them, no doubt, will follow some of their brethren into private equity firms and hedge fund shops. Indeed, the [...]

Austin Ventures’ $50 Million Online Bet Tue, 24 Jun 2008 11:14:27 +0000
Austin Ventures, a venture capital firm managing around $3 billion across nine funds, has invested $50 million to try and create a new media franchise called Atcor Holdings. The firm has partnered with former Intermix chief operating officer Sherman Atkinson, who will lead the new company. It’s not yet clear where Atcor’s acquisitions will start, but [...]

Holding Back Young Students: Is Program a Gift or a Stigma? Wed, 25 Jun 2008 03:02:29 GMT
A New York school district has revived a controversial retention practice to not only hold back nearly 12 percent of its first-graders this spring but to segregate them come fall.

W.H.O. Issues a Checklist to Make Operations Safer Wed, 25 Jun 2008 04:17:44 GMT
The guidelines are a list of simple safety checks that the health organization said could halve the rate of surgical complications.

House Votes to Block Cut in Doctors’ Medicare Fees Wed, 25 Jun 2008 04:51:29 GMT
Despite a veto threat, the House moved to prevent a 10 percent cut in Medicare payments to doctors that was scheduled to take effect July 1.

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