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Sep 24, 2010

Mining Interactive: Gold Intelligence Weekly .- Gold Recovery 3" By Adam Hamilton. Sept. 24th., 2010

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MarketWatch : Personal Finance Daily .- If only companies would order up some workers. Sept. 24th., 2010

Personal Finance Daily
SEPTEMBER 24, 2010

Friday's Personal Finance stories

Don't miss these top stories:

By MarketWatch

We learned this week that the recession ended about 15 months ago, but apparently the housing market didn't get the news.

Sure, existing-home sales rose almost 8% last month, but as MarketWatch's Steve Goldstein notes in his story today on the U.S. economy, that move comes after a 27% fall a month earlier. Ouch. Meanwhile, new-home sales were flat, and housing prices logged a decline.

The good news is that core capital-goods orders rose in August. I guess that's something. Read Goldstein's story on what we learned about the economy this week. And see Ruth Mantell's story on how the U.S. government's latest efforts to encourage China to stop its currency manipulation won't help workers any time soon. Also, don't miss our Weekend Investor column by Jennifer Waters for a look at how to buy property in college towns.

Now if only companies could start ordering up some workers, we might get somewhere.

Andrea Coombes , Personal Finance editor

U.S. workers pay for undervalued Chinese currency

With a national unemployment rate of 9.6%, the American thirst for jobs is strong, and U.S. lawmakers have a target: China.
Read more on U.S. workers pay for undervalued Chinese currency.


How to buy property in college towns

The housing market is still in the tank and doesn't seem likely to emerge anytime soon, but there are investment opportunities in one segment: student housing.
Read more on how to buy property in college towns.

End-of-recession announcement not ‘kiss of death'

Having contrarian inclinations, I sat up and took notice earlier this week when the official announcement came that the last recession had ended in June 2009.
Read more on end-of-recession announcement not ‘kiss of death.'


10 IRA tasks to do before the year ends

It's not enough. The average balance in an IRA would fund less than two years of retirement for the average American and represents not much more than 5% of the income a person needs to maintain a decent standard of living.
Read more on 10 IRA tasks to do before the year ends.


Outsourcing jobs to rural America

Lynn Engram was raised on a farm near a tiny town in south Alabama.
Read more on outsourcing jobs to rural America.

DOJ settles with tech firms on hiring collusion

The U.S. Justice Department said Friday it has reached a proposed settlement with Adobe Systems Inc., Google Inc., Intel Corp., Intuit Inc. and Walt Disney Co.'s Pixar on the companies' agreements to not solicit each others' workers for employment.
Read more on DOJ settles with tech firms on hiring collusion.


Proposed DOT rules could be costly: airlines

The Air Transport Association, a lobbying group for U.S. airlines, said some of consumer-protection rules proposed by the Department of Transportation could make carriers more vulnerable to lawsuits.
Read more on proposed DOT rules could be costly: airlines.


When you can't afford your timeshare

If you're facing money troubles, your resort home could become an unaffordable luxury. Lew Sichelman, in this week's Realty Q&A, offers tips on how to sell a timeshare.
Read more on when you can't afford your timeshare.

New-home sales flat in August

U.S. sales of new homes were flat in August at the second lowest level on record as the housing market continues to struggle after government tax breaks ended in April.
Read more on new-home sales flat in August.


The economy can't grow forever

Those of us who believe that the economy should serve us instead of the other way around are conflicted.
Read more on the economy can't grow forever

What we learned about the economy

First, the good news on the housing front, or least not as bad news: existing-home sales rose 7.6% in August. As impressive as that percentage sounds, it comes after a 27% nosedive in July.
Read more on what we learned about the economy.

Bernanke defends models that missed credit crunch

Federal Reserve Board Chairman Ben Bernanke on Friday defended new Keynesian economic models even though they failed to predict the financial crisis.
Read more on Bernanke defends models that missed credit crunch.

Government seizes three wholesale credit unions

The federal government on Friday seized three undercapitalized wholesale credit unions and unveiled a package of regulations to have the industry absorb losses on a $50 billion portfolio of toxic mortgage securities.
Read more on government seizes three wholesale credit unions.

CNBC EVENING BRIEF: Who Let All the Bulls Back In? Market's Mood Suddenly Shifts. Sept. 24th., 2010


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RTTNews : Evening Market Wrap .- Stocks Shoot Higher As Market Optimism Returns - U.S. Commentary . Sept. 24th., 2010

Evening Market Wrap Fri Sep 24 17:01 2010


Sep 24, 2010 Stocks Shoot Higher As Market Optimism Returns - U.S. Commentary Stocks surged to close out the week on Friday, as the markets digested upbeat data on durable goods and signs of bottoming from new home sales figures. The data gave way to a resurgence in risk appetite amid easing fears of a double-dip recession. The major averages held steady in late-session dealing, ending at their best closing levels in over four months. Full Article

Economic News

Sep 24, 2010 Durable Goods Orders Increase Excluding Transportation Equipment Orders for manufactured durable goods showed a notable decrease in the month of August, according to a report released by the Commerce Department on Friday, with the decrease largely due to a steep drop in orders for transportation equipment. Excluding the steep drop in orders for transportation equipment, durable goods orders actually increased by 2.0 percent in August compared to a revised 2.8 percent decrease in July. Full Article
Sep 24, 2010 New Home Sales Remain Stuck At Low Levels In August While existing home sales showed a notable rebound in the month of August, the Commerce Department released a report on Friday showing that new home sales for the month remained unchanged at a level indicating continued weakness in the housing market. The report showed that new home sales in the month of August came in at an annual rate of 288,000, unchanged from the revised rate for July. Economists had expected new home sales to rise to an annual rate of 291,000. Full Article

Earnings News

Sep 24, 2010 KB Home Q3 Loss Narrows; Cautious On Near-term Outlook - Update Homebuilder KB Home (KBH) Friday reported a narrower loss for the third quarter, helped by lower one-time charges, higher housing revenues, margin and reduced costs. The Los Angeles, California-based company witnessed a 39% reduction in net orders due to the April 30th expiration of the federal home buyer tax credit amid a challenging economic environment. The company also said that the net order trends make it extra cautious on its near-term outlook. Full Article

Corporate News

Sep 24, 2010 DTE Energy Promotes Gerard Anderson To CEO Utility company DTE Energy Co. (DTE) announced Friday that President and Chief Operating Officer Gerard Anderson will assume the role of chief executive officer, effective October 1, 2010. Anderson will succeed Antony Earley Jr., who will become executive chairman and report directly to the board. Full Article

Forex Commentary

Sep 24, 2010 September Swoon Drives Dollar To Lowest In Months The dollar was battered on Friday, closing a dismal week in characteristic fashion despite signs the nation's manufacturing sector is stabilizing. The week's relatively encouraging economic news has been overshadowed by comments from the Federal Reserve indicating that a second round of quantitative easing is forthcoming. Full Article

Political News

Sep 24, 2010 Most Say Muslim Group Should Move Ground Zero Mosque Despite RightsWhile a vast majority of New York voters say a Muslim group has the right to build a mosque near Ground Zero, the result of a Quinnipiac University poll released on Friday showed that a similar majority think the group should voluntarily agree to build it somewhere else. The poll showed that 80 percent of likely New York state voters said that the group has the right to build the mosque near the site of the 9/11 attacks on New York City. Full Article
Sep 24, 2010 Poll Shows Boxer Has Widened Lead Over Fiorina In Calif. Senate Race Democratic Sen. Barbara Boxer, D-Calif., has seen a slight increase in the size of her lead over Republican challenger Carly Fiorina in the California Senate race, according to the results of the latest Field Poll released on Friday. Field said 47 percent of likely California voters said they would vote for Boxer compared to 41 percent that said they would vote for Fiorina, the former CEO of Hewlett-Packard (HPQ). Another 12 percent said they are undecided or prefer a different candidate. Full Article

NYT: Afternoon Business News: Jonathan Klein to Leave CNN


Media Decoder Blog

Jonathan Klein to Leave CNN

Jonathan Klein, the president of the beleaguered CNN/U.S. cable channel, is being replaced by Ken Jautz, the head of the sister channel HLN.

Judge Accepts S.E.C.-Citigroup Settlement

The $75 million settlement between the Securities and Exchange Commission and Citigroup involves the bank's failure to adequately disclose its exposure to subprime mortgage debt.
Prescriptions Blog

Anemia Drugs Are Recalled

Amgen and Johnson & Johnson announced are recalling various lots of their anemia drugs, Epogen and Procrit, because extremely thin, barely visible glass flakes have been found in the vials.

Yale's Endowment Returns 8.9% for the Year

The endowment lagged behind many of the other big funds, including Harvard's, which had a 11 percent gain for the year.

A Management Shuffle at HSBC

Michael Geoghegan has stepped down as the bank's chief, a surprise development that has rattled the bank.

F & F I N : Markets tally 4th week of gains in broad rally. Sept. 24th., 2010.

THE WASHINGTON POST AFTERNOON EDITION: Today's Most Read Articles. Sept. 24th., 2010

Most Viewed Articles on

1) Visigoths at the gate?

Fear-over-hope rides again, this time with Dems warning darkly about 'the Republican Tea Party.'

2) Stephen Colbert, in character, testifies on immigration in D.C.

The comic pundit Stephen T. Colbert, with tongue in cheek and fully in character, blustered his way through a four-minute speech about immigration reform in front of a House subcommittee Friday morning, a fake blowhard before a panel of real pontificators. His message: Working on a farm is so har...

3) Carolyn Hax Live: Advice columnist tackles your problems (Sept. 24, 2010)

Carolyn Hax takes your questions and comments about her columns and any other questions you might have about the strange train we call life.

4) Celebritology: Eddie Fisher: A singer best remembered for scandal

If there is such a thing as a pioneer in the world of celebrity scandal, Eddie Fisher might have been it.

5) Va. woman executed for slayings in 2002

JARRATT, VA. - Teresa Lewis, who plotted with her young lover to kill her husband and stepson for insurance money, became the first woman executed in Virginia in nearly 100 years Thursday night when she was killed by lethal injection.

6) Obama's U.N. visit includes strong outreach to Asia

UNITED NATIONS - Look over President Obama's agenda for his three-day visit here during the annual U.N. General Assembly, and it's clear what part of the world is most on his mind.

7) Hooey from the GOP

Do Republicans actually want to send the economy back into recession?

8) American University, now home to the 'American Wonk'

New York has financiers. Las Vegas has gamblers, and Austin has slackers.

9) Steven Pearlstein: Yes, it may finally be time to get back into stocks

I've never bought into the conventional wisdom that you can't time the markets. There are times when it's fairly obvious that the market has pretty much played itself out, on the way up or the way down. My gut tells me this is such a time.

10) After her breakout year, Carey Mulligan still garnering praise for acting

TORONTO -- Carey Mulligan, you've snagged nominations for an Academy Award and a Golden Globe. You've won the British equivalent of the Oscar. You star in "Never Let Me Go" and "Wall Street: Money Never Sleeps," both big-deal movies, both earning Oscar buzz, both opening Friday.

F & F I N : Fox Business .- Dow soars 200 points as Wall Street continues to cheer new data on durable goods orders. Sept. 24th., 2010

NBC Universal CEO Jeff Zucker 276

'I Can't Do it Anymore'

Taxed to Death Verona, NJ Resident Susan Montanile on sky-rocketing property tax increases.

Sea of Green as Wall Street Cheers Data

The Dow climbed nearly 200 points, amid a surge in demand for big-ticket items in August.

M&A Deals: The Comeback Kid

Buoyed by the busiest August in more than a decade, global M&A jumped 21% this year.

Drinking, Smoking on the Job in Detroit

WATCH Detroit's reaction to Chrysler workers drinking and smoking pot on their lunch breaks.

Lawyers Win, You Lose?

WATCH Attorney Mark Lanier on his court wins against Merck, and what it means for consumers.

MarketWtach : Special Financial Services.- Chips Rally on AMD move / Fed will prop up market. Sept. 24th., 2010

By Benjamin Pimentel MarketWatch

Chips gain as AMD lowers sales view, Ellison hints at buying chip company 

By Alistair Barr MarketWatch

Manager of top-performing Appaloosa hedge fund adds to equity positions ahead of possible second round of quantitative easing. 

F & F I N : Reuters - Deals Today .- Deals return in Q3, but outlook still cautious . Sept. 24th., 2010

Buoyed by the busiest August in more than a decade, global mergers and acquisitions have risen 21 percent so far this year, but the outlook for the rest of the year remains cautious. Reuters takes a look at the deal flow in the third quarter, who the top advisors are and why. *Full Coverage

Brazil's federal government increased its total stake in oil company Petrobras to about 48 percent from 40 percent after a massive stock offering. U.S.-traded shares of the company fell 0.7 percent in early trading. *View article

Britain's markets watchdog told investment banks to adopt "a much stricter culture" to prevent leaks to journalists about takeovers and other deals, and said it might impose new rules if nothing improves in a year. *View article

"The initial public stock offering by General Motors will be smaller than previously suggested, and the federal government will most likely sell a relatively small portion of its 61-percent stake in the company, according to people with knowledge of the preparations," The New York Times reports.View NYT article *

Eric Martyn, DealZone

NYT : Breaking News Alert . - Zucker Announces Departure From NBC. Sept., 2010

Breaking News Alert
The New York Times
Fri, September 24, 2010 -- 11:12 AM ET

Zucker Announces Departure From NBC

Jeff Zucker, the chief executive of NBC Universal, told the
company's employees in an e-mail Friday morning that he will
step down from his position upon the completion of the
takeover of NBC by Comcast.

The fate of Mr. Zucker, the longest-serving senior manager at
NBC, has been the subject of widespread speculation since
Comcast agreed last December to purchase 51 per cent of NBCU
from its long-time corporate owner, General Electric. The
deal is expected to close at the end of the year, following
regulatory approval.

In an interview in NBC's executive offices, Mr. Zucker, who
is 45, said the decision to leave the only employer he has
ever worked for -- a decision he acknowledged he was not his
own choice -- became inevitable after a meeting two weeks ago
with Steve Burke, Comcast's chief operating officer.

Read More:

RTTNews : Morning Market Briefing .- urable Goods Data Jumpstarts Futures. sEPT. 24th., 2010

Morning Market Briefing Fri Sep 24 09:01 2010 


Sep 24, 2010 Durable Goods Data Jumpstarts Futures - U.S. Commentary Stocks are poised to shoot higher at the open on Friday, as traders are digesting a better than expected adjusted durable goods orders number. The upward move comes ahead of new home sales data due out shortly after the opening bell. Currently, the major index futures are all firmly positive, with the Dow futures up by 111 points. Full Article

Economic News

Sep 24, 2010 German September Business Confidence Strengthens Unexpectedly German business sentiment improved unexpectedly in September to the highest level since June 2007, defying concerns of a double-dip in the largest eurozone economy. Full Article
Sep 24, 2010 Durable Goods Orders Fall 1.3% Amid Steep Drop In Transportation Orders Orders for manufactured durable goods showed a notable decrease in the month of August, according to a report released by the Commerce Department on Friday, with the decrease largely due to a steep drop in orders for transportation equipment. Full Article
Sep 24, 2010 Singapore Manufacturing Output Growth Eases Unexpectedly Singapore's manufacturing output growth slowed unexpectedly in August signaling a moderation in the economic growth during the second half of the year as suggested by the central bank. Full Article
Sep 24, 2010 French Economic Growth Revised Up To 0.7% The French economy grew at a faster pace than previously estimated between April and June, official figures showed on Friday. The revision was due to a softer decline in trade and strong consumer spending and investment. Full Article

Earnings News

Sep 24, 2010 Nike Q1 profit climbs 9%Thursday, Nike Inc. (NKE) reported a 9% rise in its first-quarter, as revenue grew 8%, and gross margin expanded 80 basis points to 47%. Earnings per share came in above the Street view. On a constant currency basis, revenues grew 10% from last year. Full Article
Sep 24, 2010 KB Home Q3 loss narrowsFriday, KB Home (KBH) reported a narrower loss in the third quarter, helped by a 9% growth in revenue, better housing gross margin as well as decrease in costs. The number of houses delivered during the quarter climbed 4%, and the average selling price also increased 6% year-over-year. Full Article

Corporate News

Sep 24, 2010 DTE Energy appoints Gerard Anderson as CEOFriday, DTE Energy Co. (DTE) said it is promoting its Chief Operating Officer Gerard Anderson to become president and chief executive, effective October 01. Anderson is replacing Anthony Earley Jr, who would continue to serve as executive Chairman of the board. Full Article
Sep 24, 2010 HSBC CEO Geoghegan to quit; CFO Douglas Fint To Be Chairman - reportsThursday, HSBC Holdings plc's (HBC) Chief Executive Michael Geoghegan is resigning at year end after serving from the top for fours, reported Financial Times, U.K. Further, HSBC's investment bank chief Stuart Gulliver would replace the outgoing CEO. Earlier this month, HSBC Chairman Stephen Green had announced his decision to step down before the end of the year, in order to accept Prime Minister David Cameron's invitation to become a Minister. Full Article

Todays WS Events

Sep 24, 2010 National Semiconductor 2010 Shareholders Meeting At 1:00 PM ET National Semiconductor Corporation. (NSM) will hold its 2010 Shareholders Meeting. The event is scheduled to begin at 1:00 PM ET, September 24, 2010. To access the webcast, log on to
Sep 24, 2010 ConAgra Foods 2010 Annual Stockholders Meeting At 2:30 PM ET ConAgra Foods, Inc. (CAG) will hold its 2010 Annual Stockholders Meeting. The event is scheduled to begin at 2:30 PM ET, September 24, 2010. To access the live webcast, log on to

F & F I N : Fox Business Breaking News : Durable goods orders fall 1.3% in August, missing expectations . Sept. 24th., 2010

Durable Goods
Durable Goods Orders Slip New orders for big-ticket items fell 1.3% in August, posting their largest decline in a year.


Futures Up After Data

Futures continue to rise despite news of a drop in durable goods orders last month.

No Tax Cut Vote Before Election

Taxed to Death Don't expect the Senate to vote on renewing tax cuts before midterm elections.

Bank of America to Flex M&A Muscles

The bank gained a bigger slice of dealmaking and looks to Europe and Asia-Pacific for growth.

Japan Suspected of Yen Intervention

A sudden slide in the yen against the dollar stirred suspicions Japanese authorities intervened again.

Gold Prices Climb to Record High

Gold rallied to record highs in Europe, with spot prices flirting with $1,300 an ounce.

Petrobras Raises $70B

The Brazilian state oil company raised the world's biggest share offering.

F & F I N : Reuters Before The Bell .- Futures edge up; durable goods, housing data on tap . Sept. 24th., 2010

Futures edge up; durable goods, housing data on tap
Petrobras raises $70 billion in largest offering ever
Japan suspected of yen intervention, doubts arise
Obama asks Wen for more action on yuan
HSBC power struggle forces top team shake-up
BHP clears first Potash hurdle but other barriers remain
Banks sell $2 billion worth of China Mobile stake: report
Deals return in Q3, but outlook still cautious
Nike orders race ahead of expectations
Netflix signs expanded license agreement with NBC

WSJ : India Update News : India Scrambles to Revive Games. Sept. 24th., 2010

September 24, 2010 -- 5:00 p.m.

India Scrambles to Revive Games
India, facing intense pressure from sports officials around the world to show it is ready to host the Commonwealth Games, made a frantic push to clean up housing facilities and address safety concerns at venues.

Ecclestone: No Concerns About Indian Grand Prix
Formula One chief Bernie Ecclestone said that there were no concerns about the inaugural race in India to be held next year despite the problems plaguing India's preparations for the Commonwealth Games.

For Facebook, Movie Damage Control
Facebook executives have sought to discredit a new film's unflattering portrayal of CEO Mark Zuckerberg, even as they worked behind the scenes to influence it.

Japan to Release Chinese Boat Captain
Japanese prosecutors will release a Chinese sea captain who has been in Japanese custody since a ship collision in the East China Sea, amid escalating tension between the two nations.

Indian Court Defers Holy Site Verdict
India's Supreme Court stepped in at the last minute to delay a verdict that was to decide whether Hindus or Muslims had rights to a controversial religious site in the northern state of Uttar Pradesh.
Re-Entering the Work Force
Starting any new job is hard, and coming back to work after a long layoff can be even harder. Here's how to make a successful re-entry.

Indian Court Defers Holy Site Verdict
India's Supreme Court stepped in at the last minute to delay a verdict that was to decide whether Hindus or Muslims had rights to a controversial religious site in the northern state of Uttar Pradesh.

India Food Prices Up Again
Food prices in India rose, albeit marginally, for the fourth straight week and aren't expected to fall any time soon as incessant rains may damage some crops and shrink farm output.

India Scrambles to Revive Games
India, facing intense pressure from sports officials around the world to show it is ready to host the Commonwealth Games, made a frantic push to clean up housing facilities and address safety concerns at venues.

Who Should Win the Asian Innovation Awards?
You've read about the 12 finalists. Who do you think should win? Vote in our interactive poll.
Go to Page  India Real Time
Hindustan Unilever, ITC Run With The Bulls
The flagbearers of the consumer goods sector?Hindustan Unilever Ltd., and tobacco-to-hotels firm ITC Ltd. ?have been classified as stocks to hold defensively, not prone to strong movements either way. But the last month has belied that perception.

‘Outsourced’ Review Round-Up: A Tough Call
NBC's 'Outsourced' premiered on Thursday night. Ahead of the broadcast, many were worried that the show might parody Indians and revolve around crude ethnic humor. Here's what TV critics had to say.

‘Outsourced’: India’s TV Takeover Accelerates
American primetime television is bursting with Indians. There are more than a dozen Indian characters on evening television up from, we think zero five years ago.

India Journal: It’s the Lack of Competition, Stupid
Rupa Subramanya Dehejia says the Games mess has revealed to the world that the Old India still thrives in officialdom.

Commonwealth Games: Why the Village was ‘Filthy’
By now everyone?s read the reports of stray dogs (and workers) sleeping in beds meant for athletes and feces found in the accommodations, as well as an Indian Games organizer?s suggestion that India has different hygiene standards from the rest of the world.