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Archive for February, 2009Late selling leaves the Dow and S&P 500 with their worst starts for a year ever. GE is trimming its quarterly dividend to 10 cents. The government could own up to 36% of Citigroup. The economy shrank more than expected in the fourth quarter. Dell shares rise, despite lower profit.
Feb
27
2009
 
Dow off 119; stocks suffer worst start since 1933Posted by: moneycentralmsn in MSN MoneyLate selling pushes the market to its sixth straight monthly loss. GE is trimming its quarterly dividend to 10 cents. The government could own up to 36% of Citigroup. The economy shrank more than expected in the fourth quarter. Dell shares rise, despite lower profit.
Feb
27
2009
Roubini: Fully Nationalizing Citi and Bank of America Would Be BetterPosted by: yahootechticker in Yahoo Tech TickerFriday’s announcement the government will convert up to $25 billion of its Citigroup preferred stock into common equity represents Uncle Sam’s third direct attempt to rescue the floundering bank.The conversion would give the government up to 36% control o
Feb
27
2009
Q&A: Vint Cerf on Innovation during Hard TimesPosted by: wiredtechbiz in Wired Tech BizGoogle’s Vint Cerf, chief information evangelist, talks to Wired.com on the company’s role in the recovery. He comments on the best use of stimulus dollars and why we can’t count on private capital or VCs to float the innovation boat. Late selling pushes the market to its six straight monthly loss. GE is trimming its quarterly dividend to 10 cents. The government could own up to 36% of Citigroup. The economy shrank more than expected in the fourth quarter. Dell shares rise, despite lower profit. The Dow rallies from a 148-point low and shrugs off news that GE is trimming its quarterly dividend to 10 cents. The government could own up to 36% of Citigroup. The economy shrank more than expected in the fourth quarter. Dell shares rise, despite lower profit.
Feb
27
2009
Recession delivers another hard hit to TerexPosted by: wcfcouriernewsfeed in Cedar Valley BusinessWAVERLY — Bad economic times continue to hammer Waverly’s Terex Cranes plant, with a second wave of layoffs in less than six weeks.
Feb
27
2009
Don’t ‘Buy and Hope:’ How to Survive Until the Next Bull MarketPosted by: yahootechticker in Yahoo Tech TickerWith the market heading lower again and the Dow hitting yet another new 11-year low intraday Friday, it’s hard to believe stocks will ever be a good investment. But “there’s a bull market in our future,” says John Mauldin, president of Millenni Financials take a hit despite hopes that the rescue news would confirm Citi’s health. A report says the economy shrank more than expected in the fourth quarter. Dell’s profit falls.
Feb
27
2009
Newsday To Charge For Website, Online Cable ServicePosted by: wiredtechbiz in Wired Tech BizNEW YORK (Reuters) - Cablevision Systems plans to charge online readers of its Newsday newspaper, a move that would make it one of the first large U.S. papers to reverse a trend toward free Web readership. The paper said in a statement late Thursday that it is in the process of transforming the site into a locally focused cable service. Newsday, which covers the New York suburb of Long Island, was bought by Cablevision in a $650 million deal last May that was widely criticized on Wall Street as a puzzling move into a troubled newspaper market. Cablevision had to write down Newsday’s value by $402 million on Thursday, pushing its fourth-quarter results to a loss, as U.S. print advertising sales and circulation have dropped with more readers seeking free news on the Web. But Cablevision Chief Operating Officer Tom Rutledge said the cable TV company was aware of the difficulties faced by the traditional newspaper business. “Our goal was and is to use our electronic network assets and subscriber relationships to transform the way news is distributed,” he said on a conference call with analysts. “We plan to end the distribution of free Web content and make our news gathering capabilities a service for our customers,” he added. Rutledge’s comments could raise speculation that the paper may seek cost cuts by reducing print operations. It could also look to cross-promote Web access as part of the Cablevision programing package. Newsday’s publisher Timothy Knight said in a statement: “We are in the process of transforming Newsday’s Web site into an enhanced, locally focused cable service that we believe will become an important benefit for Newsday and Cablevision customers. More particulars will be forthcoming over the next few months.” Several large U.S. newspaper groups have had to lay off staff, reduce print costs, slash dividends and scramble for debt refinancing in a fight for survival. Others have filed for bankruptcy protection, including former Newsday parent Tribune Co, Journal Register Co and Philadelphia Newspapers LLC. In the past, several major newspapers including The New York Times charged readers for full or partial access to stories on their websites. The Wall Street Journal and Financial Times remain subscription sites. But in recent years, news content has become widely available for free, forcing many papers to give up small subscription revenue in the hope of gaining better ad sales by attracting more readers. Such moves, however, have not made up for the loss of print advertising and circulation revenue. Some major business papers like the Financial Times and News Corp’s Wall Street Journal have been able to maintain subscription fees. Cablevision has been seeking operational partnerships with Newsday. Last August, it set up Newsday TV, an interactive television channel that allowed digital cable subscribers in Long Island to subscribe to the paper through their TV sets. Aside from the financial pressures of owning a newspaper, Cablevision management has also clashed with the editors of Newsday, according to reports in the New York Times and other media sources last month. The dispute allegedly arose over Newsday’s coverage of allegations against Eddy Curry a player on the New York Knicks basketball team, which Cablevision also owns. (Reporting by Yinka Adegoke; Editing by Gary Hill, Richard Chang) Investors await a report on the economy; should it prove worse than expected, stocks could plunge. The government is close to raising its stake in Citigroup. Time Warner spins off its cable arm. Some ’savings’ are false economy, but others really will put money back in your pocket. And when money is short, it’s crucial to know where you can safely skimp. The urge to steer clear of the volatile market is understandable. Alternatives such as junk bonds and commodities are not without risk, but they may offer calmer rides. These are big, well-positioned companies that pay dividends, even though their stocks have fallen (whose haven’t?). And the longer-term view you take, the better they look. |
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