Saturday, April 10, 2010

Business News – Newsletter for April 10, 2010

Saturday, April 10, 2010


Cowboys haters, rejoice: Texas Stadium about to be imploded by more than 1 ton of dynamite

After 39 years, Texas Stadium ready for implosion

IRVING, Texas – The old stadium for America’s team is about to become a pile of dust and rubble.
With the push of a button at 7 a.m. Sunday, more than a ton of dynamite will blow Texas Stadium into pieces.
In about one minute, down will go the building …. Read the original article  : here.

In Britain’s election, could the often overlooked Liberal Democrats emerge the kingmaker?

UK’s Liberal Dems could seal Brown’s fate
LONDON – Britain’s uncertain national election may deliver a surprising twist: The country’s perennial third-placed party, the hitherto toothless Liberal Democrats, could play kingmaker.

For the first time in nearly 40 years, polls suggest neither the governing Labour Party nor the main opposition Conservatives may win an outright parliamentary majority … Read more »».

Meinhardt Raabe, actor who played Munchkin coroner in ‘The Wizard of Oz,’ dies at 94 in Fla.

Raabe, ‘Wizard of Oz’ Munchkin actor, dies at 94

Meinhardt Raabe, who played the Munchkin coroner in “The Wizard of Oz” and proclaimed in the movie that the Wicked Witch of the East was “really most sincerely dead,” has died. He was 94.
His caregiver, Cindy Bosnyak, said Raabe – pronounced RAH’-bee – died Friday morning at … Original source on Gaea Times at : Meinhardt Raabe, actor who played Munchkin coroner in ‘The Wizard of Oz,’ dies at 94 in Fla..

China reports $7.24 billion trade deficit in March as imports surge, first in almost 6 years

China’s $7.24B March trade deficit 1st in 6 years
SHANGHAI – China reported its first monthly trade deficit in nearly six years in March, a shift expected to be short-lived and one that may give Beijing only a slight respite from pressure to revalue its currency.
The $7.24 billion …. Source  : China reports $7.24 billion trade deficit in March as imports surge, first in almost 6 years.

State media: China had $7.24 billion trade deficit in March, first in almost 6 years

Report: China had $7.24B trade deficit in March

SHANGHAI – China posted a $7.24 billion trade deficit in March, its first in almost six years, the official Xinhua News Agency reported Saturday, citing customs figures. Officials say the trend will be short-lived.
The March deficit was China’s first since it recorded a $2.26 billion deficit in April … Read more : State media: China had $7.24 billion trade deficit in March, first in almost 6 years.

Regulators shut down South Carolina bank, marking 42nd US bank failure this year

42nd US bank failure in ‘10 is South Carolina bank

WASHINGTON – Regulators on Friday shut down a bank in South Carolina, marking 42 bank failures in the U.S. so far this year amid mounting loan defaults, especially in commercial real estate.
The Federal Deposit Insurance Corp. took over Beach First National Bank, based in Myrtle Beach, … Read the original article on Gaea Times at : Regulators shut down South Carolina bank, marking 42nd US bank failure this year.

Caterpillar CEO takes 54 percent cut in compensation as equipment maker weathers the recession

Caterpillar CEO compensation falls 54 percent

OMAHA, Neb. – Last year, Caterpillar Inc. gave Chairman and CEO Jim Owens less than half the $14.6 million compensation he received in 2008 as the world’s biggest maker of mining and construction equipment endured the recession and eliminated thousands of jobs.
An Associated Press analysis of a Securities and Exchange … Read : Caterpillar CEO takes 54 percent cut in compensation as equipment maker weathers the recession.

Ice Edge, Reinsdorf group both sign memorandum of understanding on new Coyotes lease

Ice Edge, Reinsdorf group sign Coyotes memornadums

PHOENIX – Two groups seeking to buy the Phoenix Coyotes have signed memorandums of understanding on a revised lease with the city of Glendale, a significant step toward purchase of the financially troubled NHL franchise.
The documents were signed by Chicago sports mogul Jerry Reinsdorf and by Anthony LeBlanc, head …. Source  : Gaea News Network.

Ex-Hartford CEO Ayer awarded compensation of $4.8 million through first 10 months of 2009

Ex-Hartford CEO received ‘09 compensation of $4.8M

BOSTON – Ramani Ayer received compensation valued at nearly $4.8 million in his final 10 months as chairman and CEO of Hartford Financial Services Group Inc., according to an Associated Press analysis of a regulatory filing.
Liam McGee, who took over when Ayer retired at the end of October, received …. Read the original article  : Ex-Hartford CEO Ayer awarded compensation of $4.8 million through first 10 months of 2009.

University of Wisconsin-Madison cuts ties with Nike over treatment of Honduran workers

U. of Wis. cuts ties with Nike over labor concerns

MADISON, Wis. – The University of Wisconsin-Madison canceled its licensing agreement with Nike Inc. on Friday, becoming the first university to take that step over concerns about the company’s treatment of workers in Honduras.
Chancellor Biddy Martin said Nike hasn’t done enough to help workers at two …. Original article  : University of Wisconsin-Madison cuts ties with Nike over treatment of Honduran workers.

Philly newspaper lenders denied 3rd Circuit review of bid rules at April 27 bankruptcy auction

Philly newspaper lenders denied review of bid rule

PHILADELPHIA – A U.S. appeals court on Friday denied creditors of Philadelphia’s two largest newspapers a rehearing on a key issue that could determine who wins the company at an upcoming bankruptcy auction.
The ruling Friday means the owners of The Philadelphia Inquirer and Philadelphia Daily News can almost …. Original source  : Philly newspaper lenders denied 3rd Circuit review of bid rules at April 27 bankruptcy auction.

Product recalls this week include children’s books, furniture, coats, bikes

Recalls this week: books, furniture, coats

Recalled products this week include children’s books with foam bindings that could detach and pose a choking hazard. Also on the list are wood furniture with coatings that could have high levels of lead, and women’s coats that don’t meet flammability standards.
There was another recall of children’s hooded clothing made …. Original article on Gaea Times at  : Product recalls this week include children’s books, furniture, coats, bikes.

Southern California court chosen by US judicial panel to consolidate dozens of Toyota lawsuits

Southern California court gets Toyota lawsuits

MIAMI – A federal judge in Southern California was chosen Friday to preside over more than 200 lawsuits filed against Toyota in the aftermath of the automaker’s sudden acceleration problems, which could potentially mushroom into one of the nation’s biggest product liability cases.
A judicial panel consolidated the ever-growing list of … Read more »»».

Forget Dow 11,000. Where’s the trading volume? Even bulls worry that rally could peter out

The Dow’s up but trades are scarce, worrying bulls

NEW YORK – Think Dow 11,000 is a big deal? Think again.
The Dow Jones industrial average briefly hit the milestone Friday for the first time in 18 months before closing at 10,997.
But Wall Street analysts who study key stock index levels say all the attention paid to …. Original article  : Forget Dow 11,000. Where’s the trading volume? Even bulls worry that rally could peter out.

Neb. ends contract when youth services firm files bankruptcy, leaves 3 agencies to serve state

State loses 2nd private youth services contractor

OMAHA, Neb. – Nebraska’s overhaul of its child welfare system has hit a snag with the loss of two of the five private agencies the state hired last fall to coordinate care for roughly 6,300 state wards.
But the state Department of Health and Human Services remains committed to the …. Source  : Neb. ends contract when youth services firm files bankruptcy, leaves 3 agencies to serve state.

Xerox CEO Burns sees 77 pct. pay hike after becoming 1st black woman to head Fortune 500 co.

Xerox CEO Burns’ pay jumps with promotion in 2009

LOS ANGELES – Xerox Corp. CEO Ursula Burns, the first black woman to lead a Fortune 500 company, saw her pay increase 77 percent in 2009 after she was promoted from president and kept cutting costs amid an economic downturn.
Burns’ pay climbed to $9.9 million last year …. Original article on Gaea Times at  : Xerox CEO Burns sees 77 pct. pay hike after becoming 1st black woman to head Fortune 500 co..

Tea party claims win over Stupak’s decision not to run again; he says he accomplished top goal

Stupak, linchpin of health bill, calls it quits
MARQUETTE, Mich. – Rep. Bart Stupak insists that tea party activists outraged over his crucial support of health care legislation didn’t run him out of office, but his decision to retire gives conservatives a rallying point …. Original source  : Tea party claims win over Stupak’s decision not to run again; he says he accomplished top goal.

ESPN’s first round coverage of Master’s tournament with Woods’ return seen by 4.94 million

Nielsen: Masters first-day ratings up 47 percent

NEW YORK – Tiger Woods was almost done playing as ESPN began coverage of the Masters’ second round Friday, a day after the network rode interest in his return from a self-imposed hiatus to its highest golf ratings ever.
The Nielsen Co. said 4.94 million people watched ESPN’s opening round … Read the original article on Gaea Times at : ESPN’s first round coverage of Master’s tournament with Woods’ return seen by 4.94 million.

TV commentator, author Ben Stein says investors’ biggest mistake was trusting Wall St.

Investors’ biggest mistake was trusting Wall St.

NEW YORK – Good sense has vanished from many areas of American life including how families manage their money, says economist and television commentator Ben Stein.
“You’ve got to correct your spending patterns so that you’re saving every week or every month,” Stein says. “You’ve got to correct your spending [..] Read the original article: here.

Personal Ensign, unbeaten female who surged to great win in 1988 Breeders’ Cup, dies at 26

Eclipse Award winner Personal Ensign dies at 26

LEXINGTON, Ky. – Personal Ensign, who capped a brilliant unbeaten career with a stirring victory in the 1988 Breeders’ Cup Distaff, has died. She was 26.
Personal Ensign appeared to die of natural causes, Claiborne Farm stallion manager Bernie Sams said. Her body was discovered in a field for …. Source  : Personal Ensign, unbeaten female who surged to great win in 1988 Breeders’ Cup, dies at 26.

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