News 2008-06-28 Andanh.com

Travelers Facing Deep Flight Cuts by Summer’s End Sat, 28 Jun 2008 06:29:12 GMT
Eric J. Frankl, the director of the Toledo Express Airport, says the loss of some service “really hurts our ability to serve the business community.”

Battered by Oil, Dow Touches Bear Territory Sat, 28 Jun 2008 05:45:02 GMT
After a brief rally in April, stocks indexes have resumed a downward trend. For the week the Dow industrials fell nearly 4.2 percent.

Class-Action Lawyer Gets 5 Years in Bribery Case Sat, 28 Jun 2008 05:51:39 GMT
The renowned plaintiff’s lawyer Richard F. Scruggs, center, with his wife, Diane, and his lawyer, John Keker, was sentenced to the maximum five years for conspiracy to bribe a judge.

Your Money: Food-Shopping Tips Direct From the Store Manager Sat, 28 Jun 2008 06:48:40 GMT
Tom Heinen, left, and his twin brother, Jeff, operate Heinen's Fine Foods, a 17-store chain in the Cleveland area. Because of the rise in food prices, the Heinens are rethinking how they do business.

Stimulus Payments Lift Consumer Spending Sat, 28 Jun 2008 05:55:15 GMT
Shoppers at a Wal-Mart in Mechanicsburg, Pa. Consumer spending increased 0.4 percent in May, double the gain in April.

Venture Investors Wrap Up an Unusually Bleak Quarter Sat, 28 Jun 2008 05:43:28 GMT
Not a single company backed by venture capitalists has gone public this quarter, a result of the weaknesses in the financial markets.

Garden Is a Seedbed for Green Cosmetics Sat, 28 Jun 2008 06:13:06 GMT
Joscha Huter, 40, cultivates the plants and flowers used to make the popular line of German natural cosmetics, Dr. Hauschka.

In Bear Bailout, Fed Says It Tried to Avert Contagion Sat, 28 Jun 2008 05:56:05 GMT
The Federal Reserve released documents Friday providing insights into its private deliberations of the controversial decisions that led to the bailout of Bear Stearns.

Charts: Sitting on the Porch, Leaving the Car in the Garage Sat, 28 Jun 2008 05:52:52 GMT
Consumer confidence data shows that pessimism about the economy is at historic highs, and that plans to take vacations or make major purchases are at some of the lowest levels ever recorded.

Executive Pursuits: Drag, Water, Repeat: Caring for Major League Dirt Sat, 28 Jun 2008 05:57:27 GMT
Harry Hurt, groundskeeper, helped water the infield at Shea before a Mets game.

Cost of Living: Economy Can Wait; Stimulate Your Savings Sat, 28 Jun 2008 05:58:21 GMT
As millions are receiving stimulus checks in the mail, it pays to ask oneself whether it ought to be spent the way Congress intended it, or whether it should be saved.

3 Nominees Approved by Senate to Fill Openings on S.E.C. Sat, 28 Jun 2008 05:56:56 GMT
The Senate has cleared three nominees to the Securities and Exchange Commission, agreeing by unanimous consent to confirm Luis A. Aguilar, Elisse B. Walter and Troy A. Paredes.

Saturday Interview: China Is Just One Market for Travel Expansion Sat, 28 Jun 2008 05:45:38 GMT
Jane Jie Sun

Fox News Finds Its Rivals Closing In Sat, 28 Jun 2008 05:26:09 GMT
Fox has seen its once formidable advantage over CNN erode in this presidential election year, as both CNN and MSNBC have added viewers at far more dramatic rates.

Court Backs Cable Competition Sat, 28 Jun 2008 05:56:41 GMT
A federal appeals court on Friday upheld the Federal Communications Commission’s authority to set rules meant to make it easier for new cable television competitors to gain local franchises.

Anheuser-Busch Begins Defense of InBev Bid Sat, 28 Jun 2008 05:56:28 GMT
Anheuser-Busch detailed its plan to make the company more valuable than the offer of $65 a share that it rejected from InBev, and gave 2008 and 2009 profit guidance above expectations.

A New Fed Board Member Sat, 28 Jun 2008 05:55:49 GMT
Elizabeth A. Duke was approved by the Senate.

What's Offline: Hoping the Upswing Is Nigh Sat, 28 Jun 2008 05:58:05 GMT
All the bad news about the economy is actually good news, Kiplinger’s Personal Finance says as part of a package of articles highlighted on its cover.

What's Online: Why Some Succeed Wildly Sat, 28 Jun 2008 05:57:47 GMT

Spate of Changes in Airline Industry Heightens the Need to Plan Ahead Sat, 28 Jun 2008 04:58:46 GMT
Some tips to help navigate the less-crowded skies.

Business Briefing | Wall Street: Goldman Sachs Sees More Pain for Home Builders Sat, 28 Jun 2008 05:51:10 GMT
Higher refinancing costs may leave American home builders, including D. R. Horton and Lennar, the two largest, with negative cash flow in 2009.

Business Briefing | Deals: Oil Driller Spurns a Takeover Offer for a Third Time Sat, 28 Jun 2008 05:49:49 GMT
The oil driller Grey Wolf reject the third offer from Precision Drilling Trust, saying the offer was still undervalued.

Business Briefing | Legal Matters: Payless Shoesource Parent Settles Trademark Lawsuit Sat, 28 Jun 2008 05:49:05 GMT
Collective Brands said Friday it had agreed to pay a footwear rival, K-Swiss, $30 million to settle litigation claiming trademark infringement.

Business Briefing | Deals: Virgin Mobile Agrees to Buy Helio Sat, 28 Jun 2008 05:50:36 GMT
Helio, a struggling cellphone carrier, was founded to bring the advanced features of South Korean phones to the American market.

Business Briefing | Wall Street: Fitch Weighs Lower Rating for Wachovia Sat, 28 Jun 2008 05:51:21 GMT
Fitch Ratings may lower the credit ratings of Wachovia, the bank that ousted its chief executive after greater-than-expected mortgage losses.

Business Briefing | Executives: Gazprom Investors Elect an Ex-Prime Minister Sat, 28 Jun 2008 05:50:53 GMT
The revolving door between politics and business in Russia spun on Friday as Gazprom shareholders elected former prime minister Viktor A. Zubkov as chairman of the board.

Talking Business: Easy Target, but Not the Right One Sat, 28 Jun 2008 05:41:09 GMT
Fadel Gheit, left, Roger Diwan, Michael Masters and Edward Krapels appear before a House subcommittee investigating the energy speculation and the high cost of crude oil.

In Bear Bailout, Fed Tried to Avoid a ‘Contagion’ Fri, 27 Jun 2008 19:30:53 +0000
The Federal Reserve scrambled to avert an “expected contagion” that risked infecting the nation’s financial system when its took unprecedented actions in mid-March to provide financial backing to a Bear Stearns rescue package and provide emergency loans to big Wall Street firms. The Federal Reserve released documents Friday providing insights into its private deliberations of those [...]

Lehman’s Expensive History Fri, 27 Jun 2008 19:18:24 +0000
From Louise Story, a DealBook colleague: Short sellers aren’t the only ones making money off of Lehman Brothers‘ troubles. Book sellers, it turns out, are also cashing in. A used paperback copy of a book written in the 1980s about Lehman is for sale on Amazon.com for more than $400. The book, Ken Auletta’s “Greed and Glory on [...]

Virgin Mobile Agrees to Buy Helio Fri, 27 Jun 2008 19:05:38 +0000
Virgin Mobile USA said Friday that it has acquired fellow Helio, the U.S. cellphone service provider controlled by South Korea’s SK Telecom, for $39 million, in a widely expected move. The complicated deal will see Virgin Mobile, a youth-oriented prepaid cellphone service provider, buy Helio for $39 million in stock. In turn, Virgin Group and SK [...]

Ex-Bear Fund Managers to Face Additional Charges, Report Says Fri, 27 Jun 2008 18:44:19 +0000
Federal prosecutors have already charged two former Bear Stearns executives with deceiving investors over the health of two internal hedge funds. Now authorities may charge the two men with possibly misleading the banks that backed the fund as well. Additional charges against the two, Ralph Cioffi and Matthew Tannin, may be filed as soon as next [...]

The Drop in Financials and the Goldman Effect Fri, 27 Jun 2008 18:31:58 +0000
It feels like bank analysts are competing with one another to see who can make the gloomiest predictions. Goldman Sachs kicked off the party on Thursday with a downgrade of the brokerage sector and the slapping of a rare “conviction sell” rating on Citigroup. That seems to have given courage to rival banking analysts at [...]

An Ex-Banker’s Unusual Job Pitch Fri, 27 Jun 2008 17:54:56 +0000
It’s hard to find a job these days on Wall Street. Most financial firms are liquidating staff from top to bottom amid a global economic slowdown that has hit the financial sector particularly hard. Those that find themselves out of a job are busy sending resumes to recruiters and human resources personnel, but they seem [...]

AIG Expects Up to $5 Billion in Losses on Subprime Write-Downs Fri, 27 Jun 2008 13:53:32 +0000
After the ouster of its chief executive and a massive loss, one might think that the American International Group has suffered plenty. But one of its executives told Bloomberg News that the insurance giant plans to absorb losses for a dozen units after their securities-lending accounts suffered $13 billion of subprime-related write-downs. The world’s largest insurer [...]

Anheuser’s Staggering Defense Fri, 27 Jun 2008 13:48:37 +0000
InBev on Thursday filed suit in Delaware Chancery Court against its resisting target, Anheuser-Busch. The Brazilian-Belgian brewer is seeking a judicial declaration that the five Anheuser directors elected when Anheuser’s board was staggered are eligible for removal without cause. It is not disputed that the other eight Anheuser directors can be removed without cause and [...]

Experts to Discuss One Puzzling Autism Case, as a Second Case Has Arisen Sat, 28 Jun 2008 05:06:48 GMT
Leading experts will meet Sunday to discuss the debated connection between vaccinations and autism.

Senate Democrats Attack Republicans on Medicare Sat, 28 Jun 2008 04:56:15 GMT
Democrats moved swiftly to assail Republican senators for voting against a major Medicare bill that would have averted a 10 percent cut in payments to doctors.

Chief of 9/11 Health Programs Gains Support Sat, 28 Jun 2008 05:17:46 GMT
Dr. John Howard has coordinated the federal government’s health programs for ground zero workers since 2006, and many fear that those programs will become endangered when he leaves his job.

Advisory Panel Approves 2 New Combination Vaccines Fri, 27 Jun 2008 14:36:47 GMT
A federal advisory panel has endorsed two new vaccines designed to reduce the number of needle sticks that young children must endure to get the recommended immunizations.

Pakistan Bombards Suspected Taliban Hideouts Sat, 28 Jun 2008 11:58:13 GMT
A Pakistani paramilitary soldier stood guard next to a bunker built on a mosque in Khyber near Peshawar.

Taliban Imperil Pakistani City, a Major Hub Sat, 28 Jun 2008 10:31:13 GMT
A Pakistani man on Friday passed barbed wire on a broken wall, dividing the city of Peshawar from the lawless tribal regions where the Taliban threat is rising.

U.S. and Europe Near Agreement on Private Data Sat, 28 Jun 2008 06:27:34 GMT
The potential deal, which would be a breakthrough for the U.S., would allow law enforcement agencies to obtain records like credit card and travel histories.

In Zimbabwe, Voters’ Fear Joins Mugabe on Ballot Sat, 28 Jun 2008 06:08:35 GMT
Zimbabweans waited to cast their ballots on Friday in Harare, the capital. President Robert Mugabe was the only candidate left in the runoff, and many were forced to go to the polls.

North Korea’s Intent in Razing Tower Is Unclear Sat, 28 Jun 2008 06:05:46 GMT
Foreign television crews got ready for the demolition of the Yongbyon cooling tower on Friday.

President of Colombia Seeks Replay of ’06 Vote Sat, 28 Jun 2008 07:05:57 GMT
The move by President Álvaro Uribe opened him to charges that he was seeking to extend his stay in office beyond 2010, when his current term expires.

Bomb Kills 1 and Wounds 17 in Tripoli Sat, 28 Jun 2008 12:11:19 GMT
A bomb killed one person and wounded 17 at an apartment block in Lebanon’s northern city of Tripoli, medical and security sources said.

Russian Shift: a European Charm Campaign Sat, 28 Jun 2008 05:43:34 GMT
President Dmitri A. Medvedev of Russia, left, with José Manuel Barroso at a news conference on Friday in Khanty-Mansiysk after a summit meeting that was free of Putinesque acrimony.

Land Transfer to Hindu Site Inflames Kashmir’s Muslims Sat, 28 Jun 2008 06:50:03 GMT
Kashmiris protesting a land transfer to a Hindu shrine ran for cover on Friday as paramilitary soldiers fired tear gas in Srinagar.

Guatemalan Minister Dies in Helicopter Crash Sat, 28 Jun 2008 08:26:37 GMT
Guatemala’s interior minister died when a helicopter crashed north of the Guatemalan capital, officials said.

Israeli Troops Kill Palestinian Teen Sat, 28 Jun 2008 09:04:11 GMT
Israeli soldiers shot dead a West Bank teenager who threw Molotov cocktails at an army patrol, the army and Palestinian officials said.

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