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31 May 2009 10:36

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Biz, U.S., World: The latest economic status update from one Timothy Geithner

  • We are seeing more durable stability in the economy and the financial system is substantially in better shape. But we have a ways to go, and we need to keep working in the U.S. and with other major economies to restore conditions for a sustainable recovery.
  • Treasury Secretary Timothy Geithner • Speaking yesterday as he was traveling to China to do whatever a treasury secretary does. (Seriously, he plans to offer reassurances to the country that the U.S. is on the right track financially and that their financial investments are safe.) • source
Posted by Ernie Smith • 0 Comments • Permalink

31 May 2009 10:28

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Biz, U.S.: Most of GM’s bondholders agree to a pre-bankruptcy deal

  • 50+% of bondholders agreed to a debt-for-equity exchange source
Posted by Ernie Smith • 0 Comments • Permalink

30 May 2009 15:43

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Biz, U.S.: Good news! We can complain about gas prices again!

  • 20% increase in gas prices in the last 32 days. Whoa. source
Posted by Ernie Smith • 0 Comments • Permalink

29 May 2009 14:18

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Biz: Southwest, looking for revenue, stares hard at kids and pets

  • $50 charge for children traveling alone on an airplane, round-trip source
Posted by Ernie Smith • 0 Comments • Permalink

28 May 2009 20:47

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Biz, U.S.: General Motors may soon be as American as socialist pie

  • 72.5% of GM could be owned by taxpayers. Hooray! source
Posted by Ernie Smith • 0 Comments • Permalink

28 May 2009 10:30

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Biz, Culture: A Virgin is rumored to be in the running to buy Playboy

  • Richard Branson apparently wants the struggling company. Playboy Enterprises, the empire built and controlled by Hugh Hefner, has seen better days for its stocks, but shareholders are optimistic that the company might be bought out. The Virgin-owning billionaire seems to be the best bet for that right now, but Hef apparently still wants to hand the company down to his sons. Ah, nothing like keeping tasteful nudity in the family. source
Posted by Ernie Smith • 0 Comments • Permalink

28 May 2009 10:15

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Biz, Tech: Time Warner’s ready to drop AOL like a bad habit

  • AOL was a haven for newbies that was fairly popular, distributed too many free CDs and ran Netscape into the ground. source
  • AOL was big enough in 2000 to buy out Time Warner for $106 billion. Then Time Warner became bigger than AOL again. source
  • A decade later, AOL has completely lost relevance and Time Warner’s planning to spin them back off. Good riddance. source
Posted by Ernie Smith • 0 Comments • Permalink
 

28 May 2009 10:06

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Biz, U.S.: GM may not be completely screwed after 9th-inning agreement

  • Bondholders have accepted an amended agreement. After looking completely screwed yesterday due to a failed bond agreement, GM proved, like a phoenix rising out of the ashes, that it still had some fight in them. The company, teetering on bankruptcy, convinced bondholders to agree to a revised plan in which they’d receive a 10 percent equity stake. It may not be enough to save them, but you have to give them high-fives for the effort. source
Posted by Ernie Smith • 0 Comments • Permalink

27 May 2009 23:49

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Biz, Tech: Want to make money as a blogger? Post a freaking lot.

  • I found pretty early that the more you blog, the more people will come back. I had asked a friend to step in when I went on vacation. When I got back, the statistics had skyrocketed because he was blogging over 20 times a day versus the one or two posts I did.
  • Writer Mark Frauenfelder • Founder of BoingBoing.net, who quit his job at Wired to post blogs all day. He eventually hired more staff, including the friend who stepped in for him. Boing Boing began as a zine and now earns its founder a six-figure salary. It can be done. According to BlogAds.com founder Henry Copeland, pro bloggers can earn between $2,000 and $10,000 a month putting funny stuff on the Internet. So, there is hope for us guys tilling the soil at Caribou Coffee! • source
Posted by Ernie Smith • 8 Comments • Permalink

27 May 2009 23:09

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Biz, U.S.: Need startup funding? Look no further than, uh, Kalamazoo

  • Silicon Valley’s drying up Despite the bevy of great ideas out there, one area can apparently handle so many great ideas, and venture capital in Silicon Valley is starting to dry up. And we’re in the Internet era, remember. You can be innovative anywhere! source
  • Silicon Valley’s drying up Despite the bevy of great ideas out there, one area can apparently handle so many great ideas, and venture capital in Silicon Valley is starting to dry up. And we’re in the Internet era, remember. You can be innovative anywhere!
  • Toledo’s giving grants Fortunately for startups willing to move their entire business to the Midwest, municipal governments are offering to give significant financial help. But those purses close if they’re not willing to invest in the community. source
  • Silicon Valley’s drying up Despite the bevy of great ideas out there, one area can apparently handle so many great ideas, and venture capital in Silicon Valley is starting to dry up. And we’re in the Internet era, remember. You can be innovative anywhere!
  • Toledo’s giving grants Fortunately for startups willing to move their entire business to the Midwest, municipal governments are offering to give significant financial help. But those purses close if they’re not willing to invest in the community.
  • Rust belt tax breaks You can guess why cities in Ohio and Michigan are so aggressive about getting tech companies in their cities – two good reasons, in fact, GM and Chrysler. Which is why they want startups to stick around. No fly-by-nights. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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