Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on Twitter • Be a Facebook Fan • Tumble us!

19 Oct 2010 09:43

tags

Biz: Financial reform bill puts Bank of America in the red this quarter

  • $7.3 billion in quarterly losses for Bank of America
  • $10.4
    billion     the size of the company’s one-time charge the company will take due to fees caused by the Dodd-Frank financial reform act
  • $3.1
    billion     the size of the company’s net income otherwise, which beat estimates; they plan to be more transparent about fees in the future source
Posted by Ernie Smith • 0 Comments • Permalink

18 Oct 2010 21:26

tags

Biz: Starbucks trying out booze, but it’s not strong enough for our tastes

  • It’s possible that soon enough, you may go to Starbucks and find this cup filled with something other than coffee. Like booze. See, the company is testing out beer and wine at some of its Seattle testbeds. If it proves popular, other Starbucks across the country could get it. If you ask us, though, we don’t think we could get behind this until they serve hard liquor, mainly because that’s the only way we think we could survive being in a Starbucks for an extended period of time. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Oct 2010 20:46

tags

Biz: Warren Buffett: Berkshire Hathaway the “dumbest” stock I ever bought

  • For 20 years, I fought the textile business before I gave up. As instead of putting that money into the textile business originally, we just started out with the insurance company, Berkshire would be worth twice as much as it is now.
  • Warren Buffett • Explaining what the “dumbest” stock he ever bought was. Wait, what? Is he really claiming Berkshire Hathaway as his dumbest stock purchase ever? Yes, and the reason for that is that Berkshire was initially a textile firm, when in reality he should have started a new insurance business as his corporate shell. He initially bought out Berkshire partly to get rid of the former owner, whom he clashed with, which put him in a very strange spot. “I had now committed a major amount of money to a terrible business,” he notes. Buffett made most of his money off of insurance – specifically GEICO, which we bet you didn’t know he owned. The company handles other random stuff, including Ginsu knives and The Buffalo News, but one thing Berkshire no longer creates is textiles. The last legacy plant closed way back in 1985. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Oct 2010 20:05

tags

Biz, Tech: Apple’s 3Q earnings report overloaded with (mostly) good news

  • 91% increase in iPhone sales from a year ago (wow)
  • $20
    billion     Apple’s quarterly revenues, which happens to be a new record for them, by the way
  • $4
    billion     Apple’s quarterly profits, which is also a record for them – and up 70 percent (!); freaking show-offs
  • +28% increase in Mac sales year-over-year; not bad considering their light recent publicity
  • +28% increase in iPad sales from last quarter; pretty good but not particularly spectacular
  • -11% decline in year-over-year iPod sales, which admittedly was kind of expected source
  • » Investors somehow not impressed: Wait, what? Well, here’s why: They expected the increase in Apple’s iPad sales to be much higher, so as a result, Apple’s stock went down five percent in after-hours trading. You bastards can’t ever be impressed, can you?
Posted by Ernie Smith • 0 Comments • Permalink

18 Oct 2010 10:32

tags

Biz: Banking profits: Citigroup has another moneymaking quarter

  • $2.2 billion in profits for the banking giant source
Posted by Ernie Smith • 0 Comments • Permalink

16 Oct 2010 11:34

tags

Biz, Culture: Old Spice guy Isaiah Mustafa trying another brand on for size

  • Say it ain’t so, Old Spice guy! Isaiah Mustafa has taken his ad mascot on the road –and down under – to Australia, where he’s helping launch Windows Phone 7, based on the ad above. But, but, bu… Old Spice needs you, man! source
Posted by Ernie Smith • 0 Comments • Permalink

15 Oct 2010 23:54

tags

Biz: Meet the XXL Chalupa, Taco Bell’s version of the artery-stopper

  • Somehow, we live in a world where eating meat and other toppings in fried flatbread isn’t enough. So, for some reason, Taco Bell has decided to make their Chalupa XXL-sized, which is unnecessary, because you could just buy two and get the same effect. This bad boy has 650 calories. It’s like they needed to compete with the Thickburger and the Double Down, and they did so by combining a traditional Chalupa with a Taco Salad. And the dog’s dead. Based on the need for extra meat in this thing, we think we know why. (Too soon?) source
Posted by Ernie Smith • 2 Comments • Permalink
 

15 Oct 2010 21:42

tags

Biz: Here’s something you didn’t know about Toyota’s brand recognition

So, fun fact about Toyota trucks: They’re well-respected the world over by rebel and insurgent groups, to the point that they’re telltale signs. source
Posted by Ernie Smith • 0 Comments • Permalink

15 Oct 2010 20:46

tags

Biz: Countrywide’s former CEO nailed with massive fine by SEC

  • You know Countrywide? Of course you do, if you have any knowledge of big evil companies that screwed millions of good people by convincing them to get into subprime mortgages. Before the proverbial doo-doo hit the fan, the company’s former CEO, Angelo Mozilo, cashed out big time, using his insider knowledge to ensure a big payday. Now, a couple years after the fact, the SEC twisted his arm until he agreed to forfeit a bunch of that money. The details:
  • $140 million in stock sold, based on insider information
  • $22.5
    million     the size of the fine Mozilo will have to pay to settle securities fraud charges
  • $45 million the amount Mozilo will have to give back due to the charges source
Posted by Ernie Smith • 0 Comments • Permalink

15 Oct 2010 20:28

tags

Biz: Tribune’s Lee Abrams is an e-mail forwarding freaking idiot

  • disease Tribune Corp. was the subject of a massive New York Times exposé, describing the company as a bankrupt, immature, oversexed company. Not exactly good PR.
  • symptom Off-the-wall Chief Innovation Officer Lee Abrams sends an e-mail to every Tribune staffer. It includes the word “sluts” and links to a satire that included nudity.
  • cure On Friday, Abrams, who is responsible for ruining the radio industry, resigned. Perhaps this might be a change for the better for the troubled Tribune? Hah! source
Posted by Ernie Smith • 0 Comments • Permalink
 
<< newer 
top tags
older >>