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08 Feb 2010 10:28

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Biz: Steve Wozniak treats Toyota’s problems like software bugs

  • All these problems should get fixed, but they shouldn’t stop people from buying the Prius. There are bugs in every product.
  • Apple co-founder Steve Wozniak • Regarding the problems of the Toyota Prius, including the faulty brakes and what he says are accelerator problems when the car is on cruise control. (Up to 97 miles per hour!) Toyota plans to recall 270,000 units of the hybrid in the U.S. and Japan to fix the brake problems. source
Posted by Ernie Smith • 0 Comments • Permalink

08 Feb 2010 10:18

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Biz: CIT Group’s new CEO, John Thain, knows a thing or two about bailouts

  • $6
    million     amount of money John Thain will make in his first year as CEO for the emerging-from-bankruptcy small business creditor CIT Group
  • $15
    billion     amount of money Merrill Lynch lost on his watch in the fourth quarter of ’08; is this really the right guy for this particular job? source
Posted by Ernie Smith • 0 Comments • Permalink

06 Feb 2010 10:27

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Biz: Goldman Sachs’ CEO tightens his belt, relatively speaking

  • $67
    million     amount Goldman Sachs CEO Lloyd Blankfein made in bonuses after a record 2007 for the company
  • $9
    million     amount the CEO made in bonuses after a record 2009; how thoughtful of him to cut back source
Posted by Ernie Smith • 0 Comments • Permalink

05 Feb 2010 11:09

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Biz: Toyota’s president: I take personal blame for all these problems

  • I deeply regret that I caused concern among so many people. We will do our utmost to regain the trust of our customers.
  • Toyota Motor Company President Akio Toyoda • Regarding the recent recall crisis. Toyoda, the grandson of the company’s founder, has a bit of a mess on his hands thanks to the recalls. He’s been absent in recent weeks, which hasn’t helped the company’s cause. Asked about whether they’d been underestimating the problem, he said, “I believe what is happening now is a very big problem. We are in a crisis.” source
Posted by Ernie Smith • 0 Comments • Permalink

05 Feb 2010 10:19

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Biz, U.S.: Why the drop in unemployment is less impressive than it seems

  • 9.7% the current jobless rate, a five-month low source
  • Why this seems good After months of hovering over the 10% mark, it seems like (on the surface) we’re finally cutting into the economy’s debilitating factor. Obama has been feeling pressure on this for months now.
  • Why it really isn’t Payrolls still cut by 20,000 despite unemployment, which suggests that some people have stopped looking and are no longer counted. Also, some major industries are struggling, including construction.
  • Some promising signs Despite the job market’s mixed signals, there are signs the worst is over. Workweeks are longer, overtime is going up, more temps are getting work, and average earnings are up too.  source
Posted by Ernie Smith • 0 Comments • Permalink

04 Feb 2010 23:27

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Biz: Toyota could call for a recall of their Japanese Priuses

  • 200,000 hybrids to be recalled? source
Posted by Ernie Smith • 0 Comments • Permalink

04 Feb 2010 21:48

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Biz: The stock market went through a pretty hellish day today

  • 268 the number of points the Dow lost today alone, due to debt fears; it’s the biggest fall in 2010 so far
  • 10,002 the closing number for the Dow today; it dipped below 10,000 for a short while today source
Posted by Ernie Smith • 0 Comments • Permalink
 

04 Feb 2010 12:40

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Biz: Twitter considers the change to Heinz’s ketchup packets



Posted by Ernie Smith • 0 Comments • Permalink

04 Feb 2010 12:35

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Biz: Heinz Ketchup, your main squeeze, now wants to double-dip

  • Innovation is coming to the ketchup packet. Heinz, which has apparently struggled for years to come up with a better idea than the pull-apart packet, has created a mix between the squeeze and the dip, which means you don’t need a spot to plant your crushed tomato-and-vinegar puree any longer. We’re waiting for someone to do the same thing with brown mustard packets. Get back to us then. source
Posted by Ernie Smith • 2 Comments • Permalink

04 Feb 2010 10:55

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Biz: Toyota made a profit last quarter, one to be eaten up by the recalls

  • $900
    million     the size of Toyota’s profit in the final three months of last year
  • $2
    billion     the expected cost of all the recalls for faulty gas pedals source
Posted by Ernie Smith • 0 Comments • Permalink
 
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