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22 Nov 2009 12:02

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Biz: It’s like everyone wants a freaking Cadbury egg

  • Kraft They made a unsolicited bid for the candy-maker, and then they made another one. Crumbelievable.
  • Hershey They saw what Kraft was doing and want to get chocolate in their peanut butter – with backup from another investor.
  • Nestle Now they want to lay a finger on Cadbury’s Butterfinger. And they might just be the backup Hershey’s needs. source
Posted by Ernie Smith • 0 Comments • Permalink

20 Nov 2009 10:58

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Biz: Fortunately, not every CEO is a scrooge when it comes to jobs

  • If last year was the worst of it, we survived its best punch and are still fighting. With [businesses] like us, it’s not about the exact unemployment rate – it’s about how many people are worried about losing their jobs. And the latter has definitely come down.
  • Vail Resorts CEO Rob Katz • Describing his decision to completely kill his $840,000 salary in 2009 – and knock executive pay by 10% or more – to prevent major layoffs. Katz plans to slowly revert back once the recession dies down – except he’ll cut his only salary by 15%. Awesome. • source
Posted by Ernie Smith • 0 Comments • Permalink

20 Nov 2009 10:50

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Biz, U.S.: Most of the country is still shedding jobs; Michigan leads the way

  • 29 states reported increases in unemployment in October source
Posted by Ernie Smith • 0 Comments • Permalink

19 Nov 2009 10:43

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Biz, Tech: AOL’s looking to get rid of a lot of freaking people

  • 2,500 workers number of people wanted for voluntary buyouts; if they don’t get those buyouts, they turn into layoffs source
Posted by Ernie Smith • 0 Comments • Permalink

17 Nov 2009 20:09

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Biz, U.S.: Rich people are all, like, sorry about those offshore accounts

  • 14,700 people nailed by the man source
Posted by Ernie Smith • 0 Comments • Permalink

16 Nov 2009 10:05

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Biz: Will News Corp. really bite the Google hand that feeds it traffic?

  • 17% of News Corp.’s visitors came from Google last month source
Posted by Ernie Smith • 0 Comments • Permalink

16 Nov 2009 09:57

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Biz, U.S.: General Motors has much less debt than it did before

  • General Motors, just before they came out of the other end of bankruptcy, had $94.7 billion in debt owed, source
  • After its first full quarter out of bankruptcy, GM had $17 billion in debt – $6.7 billion owed to the U.S. government. source
Posted by Ernie Smith • 0 Comments • Permalink
 

16 Nov 2009 09:51

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Biz: GM is looking a bit stronger after making it through bankruptcy

  • $1.15 billion amount in losses the auto manufacturer had as a result of their bankruptcy in July; they have $42.6 billion in cash on hand source
Posted by Ernie Smith • 0 Comments • Permalink

15 Nov 2009 11:07

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Biz: Bloomberg has a ton of journalists under its belt already

  • 2,200 journalists work for Bloomberg, which was founded by NYC mayor Michael Bloomberg source
Posted by Ernie Smith • 0 Comments • Permalink

15 Nov 2009 11:04

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Biz: In a position of strength, Bloomberg grabs for the brass ring

  • We need a broader audience. The history of this company is you do the counterintuitive, countercyclical thing. It’s part of our DNA.
  • Bloomberg president Daniel L. Doctoroff • On his company’s desire to expand into a more general-interest news source. The company is in a good spot to do so. Largely built on business and financial data rather than newspaper subscriptions, it just bought troubled magazine BusinessWeek for the bargain-basement price of $5 million and has a ton of money to throw around. You know, just like founder Michael Bloomberg did when he spent millions of dollars on his recent mayoral campaign even though he didn’t need to. • source
Posted by Ernie Smith • 0 Comments • Permalink
 
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