(Reuters) - Plane maker Boeing Co is reworking its entire production schedule, adding up to 10 weeks to original delivery dates for all 3,734 jetliners in its order backlog as it tries to recover from a machinists’ strike, the Wall Street Journal said, citing people familiar with the situation.
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Nov
19
2008
 
Asia stocks fall as economic outlook darkensPosted by: financegeek in News From The NetHONG KONG (Reuters) - Asian stocks fell more than 1 percent on Wednesday and the yen rose, with risk-averse investors fretting about the deepening damage to corporate profits and consumer spending despite a late rally on Wall Street.
Nov
18
2008
Deluded Companies Still Trying Second Life: Next Up, SAPPosted by: financegeek in News From The Net
SAP Research’s Erica Dubach: “Virtual world retailers have a lot of the same issues as real retailers. For example, they have inventory, they have stock, they have billing, they have suppliers. SAP systems support real-world retailers on these issues and can do the same for virtual world retailers.” Obviously, we don’t think SAP is going to be selling much software to Second Life entrepreneurs, nor do we see the upside of modeling SAP’s store-inventory experiment in Linden Lab’s crash-prone virtual world. But give Second Life this: While general interest in in the virtual world has waned, there remains a cadre of stubbornly loyal users, some of whom are in executive roles at places like SAP, IBM, or top universities. They’re continuing to advocate for and win R&D ventures into Second Life. See Also: IBM Drinks Second Life Kool-Aid, Makes More For Lotus Users
Could Sirius go to $0.30? Of course. Could it also go to zero? Yes. Mel Karmazin’s company currently has an equity market capitalization (value of the stock) of $650 million. It also $360 million of cash and $3.3 billion of debt, so its “enterprise value”–the implied value of the business itself–is about $3.7 billion. The only thing that has to happen for Sirius (SIRI) stock to go to zero is for the market to conclude that the company is worth less than $3 billion. This would wipe out the company’s stock value, leaving the company in the hands of the debt-holders. Why might the market soon conclude that Sirius is worth less than $3 billion? Because it’s running out of cash. In the first 9 months of this year, Sirius had negative free cash flow (cash from operations - capex) of $300 million. $360 million of cash won’t last long at that burn rate. Sirius’s stock is now low enough that it will be hard to raise capital by selling stock, and we can’t imagine who would be willing to lend the company money right now. That means the company’s cash cushion is likely to get dangerously low, perhaps forcing Sirius into a highly dilutive equity deal that will put additional pressure on the stock. So it’s not hard to see how the stock could go to zero (or close to it). See Also: Sirius Hits $0.20
Nov
18
2008
GM’s Propaganda Video — YouTube Viewers Hate ItPosted by: financegeek in News From The NetYouTube viewers give General Motors’s bailout-begging video 1.99 stars out of 5. Web video services provider TubeMogul tells us that’s the lowest rating of any video to crack YouTube’s top 100 this week. This despite the fact that the the video’s top referrer is a GM-owned site. Social media marketing 0, Angry public 1. See Also:
Nov
18
2008
William Kristol and Pete Hamill Scream About The Future Of Media (Clip)Posted by: financegeek in News From The NetLaunching a new show called “The IFC Media Project,” Cablevision channel IFC hosted a panel today featuring Huffington Post founder Arianna Huffington, William Buckley’s grown kid, Christopher Buckley, Frank Sinatra-biographer Pete Hammil and Weekly Standard editor William Kristol. The panel spent much of their time on stage lamenting how news has turned into a sort of info- electo- tainment bloated with shouting pundits on cable news networks. It got really good when they started shouting at each other about it. IFC Media Project host Gideon Yago started it, saying the media ignored carnage in Iraq to the detriment of Americans. “They don’t know people are getting wounded?” Kristol said, loudly. “Let them seem the coffin!” said Hamill, shouting. Kristol shouted to be heard: “Nonsense. In the real America-” “He’s talking about blood on the ground! What Goya saw!” said Hammil, interrupting. See Also:
We realize the economy is tough. But we still think most people will spend the extra $10-$20 to get one of Apple’s sexy new iPod nanos. (Or, for $199, an iPhone.) The 4 GB Zune at $99 is a good price, but we think most people will want at least 8 GB of storage these days. See Also: But major indexes are at levels last seen in 2003. Hewlett-Packard earnings cheer. Automakers plead for help from Congress; Chrysler says it’s almost out of cash. Home Depot earnings are better than expected.
Nov
18
2008
Wall Street barrels back in late rally, led by HPPosted by: financegeek in News From The NetNEW YORK (Reuters) - Stocks staged a late fight back on Tuesday after a choppy session in which stronger-than-expected results and outlook from computer maker Hewlett-Packard offset fears that more losses at Citigroup and other banks are yet to come.
Nov
18
2008
HP drives Wall Street’s late rally, Dow up 151.17Posted by: financegeek in News From The NetNEW YORK (Reuters) - Stocks staged a late fight back on Tuesday after stronger-than-expected results and the outlook from computer maker Hewlett-Packard offset fears of more losses at Citigroup and other banks.
Nov
18
2008
Auto chief execs ask Senate panel for bailoutPosted by: financegeek in News From The NetWASHINGTON (Reuters) - The chief executives of General Motors Corp, Ford Motor Co and Chrysler submitted testimony Tuesday to the U.S. Senate Banking Committee. Mark Cuban may very well be guilty of insider trading. If that’s the case, he should go to jail. But amid a global credit crisis and mortgage meltdown, is this really the investigation we care about? My colleague Aaron Task says the SEC is too underst
Nov
18
2008
Crisis Won’t Be Over Until We Tear Up Credit Default Swaps, Says Risk AnalystPosted by: financegeek in News From The NetLast week, Hank Paulson announced that his original bailout plan — using taxpayer money to buy trash assets from banks — was dead and that the government would just be injecting capital into banks instead.Injecting equity is good, says Christopher Whale Hewlett-Packard sees a good fourth quarter and decent 2009 prospects. But sagging financial stocks stall out a morning rally, and the S&P 500 may see its lowest close since March 2003. U.S. automakers plead for more help from the government. After a 24% plunge in its third-quarter profit, the jumbo retailer promises to remain ‘keenly focused’ on offering low prices — going toe to toe with rival Wal-Mart. |
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