Friday, April 27, 2007
Thursday, April 26, 2007
from The Wall Street Journal
April 26, 2007
The Senate voted 51-46 on a $124.2 billion wartime spending bill that requires Bush to begin to withdraw U.S. combat brigades from Iraq by Oct. 1. The vote, largely along party lines, and like House passage of the same bill a day earlier, fell far short of the two-thirds margin needed to overturn the president's promised veto. The bill sets no binding date for completing a withdrawal and provides flexibility to keep troops in the war zone to train Iraqi forces and pursue al Qaeda.
Posted by PulpFiction1130 at 12:37 PM
LOCUSTS OR FIRE FIGHTERS?
Imagine two successful companies. Both are staffed by very smart people; both are innovative; both have an impact far beyond their industry, improving the productivity of the capitalist system as a whole. But the first, based near San Francisco, is the subject of adoring newspaper profiles, whereas the second, based in the New York area, is usually vilified.
Actually, you do not have to imagine any of this, because it describes a double standard that already exists. The first company in the story is a technology firm; the second is a hedge fund. As any newspaper reader knows, technology firms are the leading edge of the U.S. knowledge economy; they made possible the productivity revolution of the past decade. But the same could just as well be said of hedge funds, which allocate the world's capital to the companies, industries, and countries that can use it most productively.
See more of the article by clicking here.
Summary: The massive growth of hedge funds has sparked warnings of instability and demands that the industry be regulated. But the fear of hedge funds is overblown, based on a misunderstanding of their role in the international financial system. In reality, hedge funds do not increase risk; they manage it -- and policymakers, rather than clamping down, should make sure hedge funds have the tools to perform this function well.
Sebastian Mallaby is a Washington Post columnist and the author of The World's Banker: A Story of Failed States, Financial Crises, and the Wealth and Poverty of Nations.
Posted by PulpFiction1130 at 9:51 AM
Wednesday, April 25, 2007
Dow Reaches 13000 on Profits, Alcoa
April 25, 2007 11:09 a.m.
It took just a couple minutes of trading Wednesday for the Dow to cross 13000, though by midmorning it had slipped beneath it again. Better-than-expected durable-goods data, Alcoa's strategic-options exploration and strong earnings results lifted stocks right at the open.
The Dow Jones Industrial Average rose 38.43 to 12992.37. The S&P 500 added 4.38 to 1484.79, and the Nasdaq Composite Index gained 4.78 to 2529.32.
"The broad-based confirmation that we saw was important" on the Dow's record, with the S&P 500, the Nasdaq, plus transports and utilities all moving to records or multiyear highs as well, said Marc Pado, U.S. market strategist at Cantor Fitzgerald. But he thinks the markets are "nearing the end of this particular run" and may lose some steam once earnings season ends.
Posted by PulpFiction1130 at 9:26 AM
More and more I hear about this company, the more i dislike its goal, paying bloggers to blog about a product. check out these articles.
not all press is not good press...
Posted by PulpFiction1130 at 9:18 AM
Video Search Engine CastTV Receives $3.1 Million In First Round Financing
By David Kaplan - Tue 24 Apr 2007 11:42 AM PST
Video search engine CastTV has secured $3.1 million in first round funding. The round was led by Draper Fisher Jurvetson. The funding is intended to support product development for the San Francisco start-up. Separately, CastTV claims it has a two-year agreement with an unnamed “major media corporation” to provide it with online video crawling tools and indexing technology.
Marc Andreessen, a co-founder of Netscape, sits on the company’s board.
Red Herring: CastTV has yet to debut but promises to offer a service to find TV shows, movies, celebrities, sports, news, and viral videos. The startup plans to launch a test version of its service in May and complete service by summer.
Posted by PulpFiction1130 at 6:59 AM
ST. PETERSBURG, Fla. (AP) -- On a night that Alex Rodriguez lost his 23-game hitting streak and New York tumbled into last place, the Yankees searched for positives to take away from their longest losing streak in nearly two years.
"We can't point fingers. We're still in this together," Johnny Damon said Tuesday night after Tampa Bay pitching cooled off A-Rod and Carl Crawford's first career grand slam rallied the Devil Rays to a 6-4 victory.
The Yankees (8-11) went 0-5 on a trip that began with three losses at Boston, their longest losing streak since a six-game slide from May 28 to June 3, 2005.
"It's tough," said Derek Jeter, who left after being hit with a pitch in the first inning. "We should have won a few of them, but it didn't happen. It's just one of those things you have to work yourself through."
A-Rod hit 13th and 14th homers to tie the major league record for home runs in April on Monday, but went 0-for-3 with a walk against Scott Kazmir and Shawn Camp, who struck out the slugger in his final at-bat.
Rodriguez had hit safely in 18 consecutive games to start the season and 23 straight dating to last September.
"The only thing I can tell this ballclub is you can't start forcing it," manager Joe Torre said. "You just have to continue doing what you're doing. You can only do what you do. If you're out there trying to carry the weight of the world on your shoulders, it's going to come back and bite you."
New York's Chien-Ming Wang (0-1), in his first start of the season, allowed four runs and nine hits in 6 1/3 innings after being activated from the disabled list earlier in the day. He departed after Dioner Navarro singled and B.J. Upton doubled to start the Devil Rays' seventh.
And the good times keep on rolling!
Posted by PulpFiction1130 at 6:47 AM
Tuesday, April 24, 2007
from The Wall Street Journal
April 24, 2007
Existing-home sales took the biggest tumble in 18 years during March as poor weather struck demand. Home resales fell to a 6.12 million annual rate, a 8.4% decrease from February's revised 6.68 million annual pace. The median home price was $217,000 in March, compared with $213,600 in February but 0.3% below $217,600 in March 2006.
Posted by PulpFiction1130 at 8:41 AM
Monday, April 23, 2007
Google rises at Yahoo's expense
By Elinor Mills, CNET News.com
Published on ZDNet News: April 23, 2007, 4:00 AM PT
The contrast between the financial results announced last week for the two top search engine companies couldn't have been more stark.
Yahoo's first-quarter revenue was $1.67 billion, less than half Google's $3.66 billion. Google, once again, blew away Wall Street expectations, while financial analysts openly wondered how long Yahoo CEO Terry Semel would stay in the Internet company's corner office.
Contrast those divergent fortunes with two years ago: The companies were pulling in about the same amount of revenue; they looked primed to battle for Internet domination; and the jury was still out on whether Google's largely unproven management had the chops to take on a seasoned pro like Semel, a longtime entertainment executive whose hand prints are on Hollywood's Walk of Fame.
Now few would argue the answer to that management question was, in fact, a resounding "yes."
"Google has a racecar. Yahoo has a Honda," said Stephen Arnold, author of The Google Legacy. "It goes back to the (search) algorithm, the engineering team and this constant improvement the Google people do. And I don't see any way to close the gap quickly."
Posted by PulpFiction1130 at 7:36 AM