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February 2008 Archives
Obama sets new record for primary donations
Presidential contenders have just four days left before super Tuesday primaries. Barack Obama has gotten a bit of a boost. We're talking money here. The Illinois senator reportedly raised $32 million in January. That's the most raised in one month by a candidate who's still battling for his party's nomination. So get ready to see more of him. He's advertising in 20 of the states holding primaries on Tuesday.
02/01/08 04:31 AM PT Posted on February 1, 2008 4:31 AM PTWho better to forecast on the economy than a pig?
Instead of reports on jobless numbers, perhaps investors should look elsewhere for the state of the economy. Maybe Greenville, Ohio? Darke County Dave will be delivering his economic forecast this morning. What qualifies him? He's a pig. In an event sponsored by the Darke County Realtor's Association, the pig will be presented with two troughs: one filled with sawdust. The other with sugar. If he dips his nose in the sugar, America will surely pull out of this financial slowdown. If he choose sawdust . . . well, just pray he doesn't.
02/01/08 06:02 AM PT Posted on February 1, 2008 6:02 AM PTReception's fine, but profits need a boost
Motorola's cell phones are hitting a patch of static. The company announced it's looking at a spin-off unit for mobile devices. Sales of cell phones dove 38 percent in the fourth quarter. Handset sales are down worldwide. The Illinois company is trying to avoid a battle with shareholder Carl Icahn. Shares are up 10 percent in after-hours trading. Hello, Moto just doesn't seem to have that same ring anymore.
02/01/08 06:35 AM PT Posted on February 1, 2008 6:35 AM PTTwo winners on Super Bowl Sunday
The Giants won the Super Bowl, and it looks like Coke may be top dog in Super Bowl ads. A spot playing on the Macy's Thanksgiving day parade seems to have captured the most attention. Classical music plays as huge inflatable balloon characters of Stewie from the Family Guy, and Underdog battle above buildings for an inflatable bottle of Coke. In the end, another inflatable character floats up to grab the bottle -- a big, smiling, Charlie Brown balloon. Advertisers paid as much as $2.7 million for 30 seconds of air time.
02/04/08 05:04 AM PT Posted on February 4, 2008 5:04 AM PTWriters' strike nearing an end?
In Hollywood this morning, there're reports of an end to the writers strike. The was a major move forward over the weekend in talks between the Writers Guild and top studio exes. Variety calls it "driving to the end zone." We could have a deal this week. Now the challenge is restarting the stalled production machine and getting TV series back on the air quickly.
02/04/08 08:26 AM PT Posted on February 4, 2008 8:26 AM PTMore Google-Microsoft sparring
It's only Tuesday, but Google's had a busy week jabbing at Microsoft. That's the aim again today as Google is set to add more e-mail features for businesses. The new tools include extra security and storage products -- a challenge to Microsoft's e-mail programs and expensive Office software.
But the real battle between the two is over the internet search and advertising market. Google wants to stop Microsoft from buying Yahoo. Microsoft's willing to borrow money to make the more than $40 billion dollar takeover happen.
Fuel efficiency driving Toyota profits
The craving for more fuel-efficient cars continues to fuel sales for Toyota. The company raised its profit for the third fiscal quarter 7.5 percent over the previous year. Booming sales in China, Europe, and South America off-set declining sales in the U.S. The Japanese automaker is in a neck-and-neck race against General Motors for the top spot in global sales. Toyota sold 2.3 million vehicles in its third quarter, up nearly 6 percent from the same time last year.
02/05/08 07:25 AM PT Posted on February 5, 2008 7:25 AM PTThe economy: Not at your service
If we needed an unmistakable signal the economy is shrinking, here it is: Activity in the service sector fell big time in January. We get this number every month from the Institute of Supply Management. December's reading was 54. January's was 42. Any reading below 50 means contraction. And to put this in perspective, that reading hasn't been below 50 since March of 2003.
02/05/08 07:27 AM PT Posted on February 5, 2008 7:27 AM PTYou dirty Year of the Rat...
Feng shui masters are being called on to do more than rearrange furniture -- investors in Asia are turning to the experts of good flow for some market guidance in this Year of the Rat. One master in Hong Kong says the rat is a symbol of money to the earth industry. He says property, mining and gold are the things to invest in. Another feng shui master in Singapore says "the rat will become aggressive at the tail end of the year..." There are no predictions, however, for who will be the next U.S. president.
02/06/08 02:29 AM PT Posted on February 6, 2008 2:29 AM PTA loonie Lego price dispute
In Canada, Wal-Mart stores are ending their relationship with toymaker Lego. The Wall Street Journal reports on a disagreement over pricing, thanks to a stronger Canadian dollar -- affectionately called the loonie. The Canadian government asked retailers to drop prices as the loonie appreciated -- that meant retailers had to ask their suppliers to cut wholesale prices. But Lego apparently wouldn't... let go.
02/06/08 05:02 AM PT Posted on February 6, 2008 5:02 AM PTAdd a coffee maker, we're in business
This week at the Chicago Auto Show, Ford plans to show off a new high-tech options package for its F-150 pickup trucks and commercial vans.Get this: It includes an in-dash computer with high-speed internet, plus a battery-powered inkjet printer. There's also a tool-tracking device, so you don't leave any tools behind at the work site.
02/06/08 05:35 AM PT Posted on February 6, 2008 5:35 AM PTNew York stores accepting Euros
If you weren't convinced the dollar just isn't what it used to be, listen to this. Some stores in New York are putting up signs that read: "Euros accepted here." An owner of a wine shop in the East Village says, "money is money."European tourists are travelling to the city looking to take advantage of the exchange rates.
02/07/08 02:51 AM PT Posted on February 7, 2008 2:51 AM PTMcDonald's Japan profits are . . . meatier
Japan's having a Mega Mac attack. McDonald's Japan posted a five-fold increase in annual net profit today. Among the reasons for the surge: the popularity of Mega Macs, four meat patties layered between three slices of bun with cheese and lettuce. That and new breakfast menus helped McDonald's ride out its disclosure in November that it sold salads past their expiration dates at some Tokyo restaurants. And there's still hunger for more: The company predicted further growth as it plans to open 130 new stores and promote its coffee more.
02/07/08 04:23 AM PT Posted on February 7, 2008 4:23 AM PTMisery loves money
Before you make any plans to shop this weekend, consider your mood and a new study out today.
If you're sad and a little self-absorbed, you may be spending more cash than usual.
Researches from Harvard, Carnegie Mellon, Stanford and Pittsburgh Universities say this is different from the idea of retail therapy. A Harvard prof says the so-called "misery is not miserly" phenomenon occurs without awareness. Participants in the study watched either a short video about the death of a boy's mentor or a clip about coral reefs. On average, the group watching the somber video paid nearly four times as much for an insulated water bottle than the group watching the nature video.
Can't leave DOJ totally in the dark
Sony BMG and Universal Music Group have been talking about launching an online music service to rival iTunes. And now, the U.S. Department of Justice wants to know exactly what they're up to.
The idea behind "Total Music" involves offering fans access to unlimited digital music for a period of time. The cost would be built into the price of the electronic device playing the downloads. Reports say both Sony and Universal received letters from the Department of Justice. Past deals between major recording companies have been closely watched by the government.
Sony wins another battle in the HD format war
Chalk up another victory for Sony's Blu-Ray format. Officials for the Netflix DVD-by-mail service announced they will stop offering Toshiba's competing high-definition format, called HD-DVD. Netflix had been stocking both formats, but the company says this battle appears to be over, since four of the six major movie studios are going with Blu-Ray. And the format wars may soon be moot, anyway -- Netflix subscribers can now download high-def movies directly to their computer hard drives.
02/11/08 07:00 AM PT Posted on February 11, 2008 7:00 AM PTNow your money can toast to you
How about a picture of a whiskey distillery instead of the Lincoln Memorial on the $5 bill?
The Bank of Ireland is going to celebrate the 400th anniversary of Bushmills whiskey this spring by doing something like that. It's going to print an image of the Bushmills distillery on a new series of five, 10, and 20-pound bank notes. London's Telegraph reports certain commercial lenders in Northern Ireland and Scotland can legally print their own currency.
Credit Suisse not bucking to subprime
The headline of yet another bank writing down billions of additional dollars has become all too familiar. This morning, one bank is bucking that trend. Credit Suisse reduced its full-year writedowns today to just under $2 billion. It's one of the few banks to avoid heavy subprime losses.
It's rival, UBS, has taken charges of more than $18 billion. Credit Suisse isn't perfect though -- the bank also reported a 49 percent fall in fourth-quarter net profit.
Ooops, this bank doesn't accept meth
Bank workers may be a little suspicious if they find a small plastic bag with powder along with your cash. That's what happened in Washington state. An 18-year-old woman mistakenly put a baggie of meth in an envelope along with her deposit at the Kitsap Credit Union. The only interest she's earning is from the cops. The customer's been charged with drug possession.
02/13/08 05:13 AM PT Posted on February 13, 2008 5:13 AM PTIn House of the Future, house organizes you
It'll look like a typical suburban home on the outside, but inside, it's the House of the Future.
Disneyland is bringing back "The House of the Future" this May. It was a popular attraction at the Southern California park in the 1950's. Back then, it showed visitors futuristic gadgets like hands-free phones, wall-sized TVs, and even electric toothbrushes. In 2008, the future means kitchen counters that can identify groceries and make menu suggestions, and closets that provide fashion tips.
Breaking the donut mold to avoid dunkin' profits
Dunkin' Donuts is putting its latest hopes into oven-toasted goodness. The coffee and baked-goods chain is breaking its breakfast-only mold. Dunkin' will unveil new menu items today, including personal pizzas and flatbread sandwiches. The lunch and dinner options will be heated in convection ovens rather than microwaves. The company isn't saying how much it cost to replace the microwaves, but does say the new ovens will help with breakfast sandwiches, too -- no more soggy bread and limp eggs.
02/13/08 05:20 AM PT Posted on February 13, 2008 5:20 AM PTTata reaching for the stratosphere
You remember that $2,500 Tata Nano car that came out a few weeks ago? No, not in the US -- in India. Well, the same company that makes the Nano is getting into Defense-related aerospace components. Tata Group and Boeing announced today a $500 million joint venture.
Tata will build the parts in India and export them to Boeing and its customers.
A sale that's very hush-hush
The world's largest collection of silent movies is up for sale. The Rohauer Collection has 700 silent and classic films put together over three decades. Some of the films feature stars such as Buster Keaton and Harold Lloyd. The collection was bought in 1995. Now the company that owes it, Douris U.K., needs to raise cash for its creditors. It already signed a distribution deal for 21 of the films with a French company for $500,000.
02/14/08 05:00 AM PT Posted on February 14, 2008 5:00 AM PTBelieve it or not, they now hold the World Records
Guinness World Records brand is officially American. The Florida-based company behind Ripley's Believe It or Not, Ripley Entertainment, bought the Guinness brand for around $117 million. This according to the Guardian newspaper. The brand was owned since 2002 by U.K.-based HIT Entertainment. The Guiness Book of world records was first published in 1955.
02/15/08 03:46 AM PT Posted on February 15, 2008 3:46 AM PTMidwest snow demands more salt
Towns in the midwest are looking at another wintery weekend. The harsh weather this season brings the usual anxiety -- heating costs on the rise and all. But here's something you might not have thought of. Towns across the Northeast and Midwest are bracing for a salt shortage. The U.S. spends around $300 million on about 12 million tons of salt, and much of it goes to keeping the roads clear. Many cities didn't budget for the extra salt needed to get through this season, and now they're having to buy it at higher prices. The town of Davenport, Iowa told the Associated Press they'll have to spend $1.3 million on snow removal this year. They only expected to spend $580,000
The winner of the DVD wars is . . .
It appears that questions over what would be the DVD format of the future have been answered. And the winner is Sony. The competition was between and Sony's Blu Ray disks and Toshiba's HD DVD. Both offered superior clarity and picture, but neither were compatible with the other. And though Toshiba did not say they were defeated, today they admitted they'd review their HD DVD strategy. Probably the clearest losers are the estimated one million people around the world who have already bought HD DVD players.
02/18/08 05:55 AM PT Posted on February 18, 2008 5:55 AM PTOprah's e-book club
Oprah's been very good for bookstores. But it seems her magic touch goes beyond paper pages.
More than a million copies of Suze Orman's "Women & Money" were downloaded after Oprah Winfrey announced an e-book edition would be free on her website for 33 hours. Orman was a guest on Oprah last Thursday. And now the paper version of the book is getting a lift too. As of yesterday "Women & Money" ranked number six on Amazon.com.
Martha's turning up the heat with Emeril
The queen of crafts and cooking is spicing up her media company. Martha Stewart Living Omnimedia will "kick it up a notch" with the media and licensed properties of TV chef Emeril Lagasse. The Wall Street Journal reports the deal's closing for about $50 million in cash and stock -- bam! Martha will get rights to TV programs like "The Essence of Emeril" and "Emeril Live," as well as a dozen cookbooks and other properities.
02/19/08 05:57 AM PT Posted on February 19, 2008 5:57 AM PTWii gonna get in shape
Why join a gym or go outside when you can play a video game? Nintendo hopes to grab some new customers with that mentality. The company will announce a new product today that will ship in the U.S. this spring. The Wii Fit includes the Wii Balance Board, a white rectangle you stand or put your hands on that senses weight and motion. Nintendo has sold almost 1.5 million copies of Wii Fit since it went on sale in Japan last year. The game will sell for less than $100 in the U.S.
Other items showing at the Game Developers Conference in San Francisco include a headset that lets you control what you're doing in a game by thinking about it. The $300 device comes from a company called Emotiv.
02/20/08 05:47 AM PT Posted on February 20, 2008 5:47 AM PT...Actually, the winner of the DVD format war is everyone
Apparently there are no hard feelings between Toshiba and Sony after the end of the DVD format war. The two companies announced a joint venture today to start making advanced chips. The chips are used in Sony's PlayStation as well as digital items from Toshiba. Toshiba is paying $835 million for Sony's semiconductor operations. That gives Toshiba 60 percent ownership.
02/20/08 05:49 AM PT Posted on February 20, 2008 5:49 AM PTIt slices, it dices, it guides your way home
The Ginsu knife cut its way into American culture in 1978 with a TV informercial. Rhode Island native Ed Valenti is one of the brains behind the Ginsu. He and his partner gave the cheap serrated knife a faux-Japanese name and the rest was history. Now a Rhode Island lawmaker wants to name a quarter-mile road in the state, "Ginsu Way."
02/21/08 07:00 AM PT Posted on February 21, 2008 7:00 AM PTSkimming the top off the staff
Starbucks may be making changes to improve customer satisfaction, but a number of the company's workers aren't too happy today. The CEO of the coffee chain sent an e-mail yesterday announcing 600 job cuts -- 220 people have been laid off. The rest of the cuts are open positions that will remain unfilled. Most of the cuts are in the U.S,. but none are baristas or store managers.
Starbucks has more than 170,000 employees.
Arizona makes use of its sun
A small dusty town near Phoenix will be home to one of the world's largest solar power plants.
A Spanish company called Abengoa Solar plans to start construction on the project as early as next year. The 280-megawatt plant will go up in Gila Bend, Arizona. It could be producing solar energy by 2011. Arizona Public Service would pay the Spanish firm $4 billion over 30 years for the energy produced -- enough to supply about 70,000 homes.
Virgin's plight to produce less CO2
Virgin Atlantic took to the skies this weekend, powered by biofuel. Virgin head Richard Branson says yesterday's jumbo jet flight from London to the Netherlands was to prove there's an option that can produce less carbon dioxide than normal jet fuel. But some climate change experts say the test flight was nothing more than a publicity stunt. British papers quote experts saying more and more evidence shows carbon savings from biofuels are negligible.
02/25/08 05:55 AM PT Posted on February 25, 2008 5:55 AM PTAn unhealthy amount of money
Here's a number that might give you a headache: In less than a decade health care will account for $1 of every $5 the nation spends. New numbers from the Centers for Medicare and Medicaid Services project healthcare spending will nearly double by 2017. That adds up to more than $4 trillion a year. Another way to put it? About 20 percent of U.S. GDP.
02/26/08 06:40 AM PT Posted on February 26, 2008 6:40 AM PTOn demand . . . with advertising
Can't get enough of Lost or Desperate Housewives? ABC's making the shows available "on demand" for cable subscribers. Don't get too excited. Guess what comes with them? Advertisements -- unlike usual video-on-demand programming, which allows you to fast-forward through commercials. The ABC shows come with ads you can't speed through. ABC is one of the first networks to attempt this kind of an offering. HBO and Showtime already have video on demand channels.
02/26/08 06:42 AM PT Posted on February 26, 2008 6:42 AM PTApparently Nutella doesn't make a healthy breakfast
Here's a pop quiz for your breakfast. The elements of a healthy breakfast include: A. a glass of orange juice B. a bowl of oatmeal or C. toast and Nutella?
A British ad for Nutella claimed that hazelnut and chocolate could be part of a balanced diet. Well not for long. The BBC reports the ad which aired in Britain is being pulled.
02/27/08 04:11 AM PT Posted on February 27, 2008 4:11 AM PTWonder what they'll use to toast
Here's a retirement party we wish we were invited to: The master distiller for Jack Daniel's is about to step down. Jimmy Bedford is the whiskey's sixth master distiller since the brand was registered in 1866. Bedford will retire at the end of March after 40 years with the company. The 68-year-old started working at the distillery as part of the construction crew during his high school and college days. When Bedford first started with Jack Daniels, sales totaled less than 800-thousand cases. Last year, sales neared 9.5 million cases.
02/27/08 04:49 AM PT Posted on February 27, 2008 4:49 AM PTHappy Birthday, deskjet printer!
The deskjet printer is celebrating a big day today. It's 20 years old. Hewlett Packard rolled out the deskjet in 1988. Back then it weighed 14 pounds and cost $1,000. These days it costs less than one hundred dollars. HP has sold more than 200 million in the past two decades.
More taxes for oil companies
Oil companies may be looking at a tax hike. The House of Representatives approved an $18 billion tax increase on oil companies over the next decade. The bill would provide tax breaks for energy conservation and alternatives like wind and solar. It would cost the five biggest oil companies an average of $1.8 billion a year.
Don't cry for them too hard -- they made $123 billion last year.
02/28/08 07:00 AM PT Posted on February 28, 2008 7:00 AM PTVictoria's Secret may be too provocative
The CEO of Victoria's Secret has been keeping her own secret. Sharen Turney says the she thinks the brand has become "too sexy." The lingerie chain is known for its provocative TV fashion shows and eye-popping stores. In the 90's, classical music played in the background of Victoria's Secret stores and the stores were painted a soft pink. Today it's pounding techo music through loudspeakers with lacquered black and neon pink displays.
02/29/08 06:13 AM PT Posted on February 29, 2008 6:13 AM PTSome classic Ferraris are too good to be true
Here's a deal: classic Ferraris for $30,000. It may be a deal, but it turns out the cars aren't real.
Italian authorities have busted a ring making phony versions of the Ferrari 360 Modena. The cars look authentic but under the sheet-metal, they're Pontiacs. Actual 360 Modenas sell used for about $150,000. Buyers say they knew the cars were fakes... but they were trying to impress their neighbors.
Latest Posts
- Some classic Ferraris are too good to be true
- Victoria's Secret may be too provocative
- More taxes for oil companies
- Happy Birthday, deskjet printer!
- Wonder what they'll use to toast
- Apparently Nutella doesn't make a healthy breakfast
- On demand . . . with advertising
- An unhealthy amount of money
- Virgin's plight to produce less CO2
- Arizona makes use of its sun
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Latest Comments
- The economy: Not at your service (1)
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Marketplace Confessional
I've just listened to Mr. Stein's concern for the poor working man. No doubt he drove his Bronco to the station to make his plea for the common man. Honestly, Ben Stein weeping for the common man's fate? After my sides stopped hurting from laughing ...
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