Texas Instruments Inc.'s (TXN) third-quarter profit fell 30%, hurt by a broad slump in demand that the chip maker said should continue into the current period.
The company's revenue in the third quarter was higher than it expected, but it noted the quarter was softer than normal. While executives said on a conference call that the company is seeing "early signs of stabilization," they still expect the fourth quarter to be weak and below seasonal.
"Economic uncertainty continues to weigh on demand in almost every major market segment in which we operate," Chairman and Chief Executive Rich Templeton said in a press release.
TI, which makes chips used in everything from cellphones to industrial equipment, had seen a sharp rebound after the recession caused customers to virtually stop buying chips. But recent macroeconomic worries have led to softer demand for semiconductors and other tech products, weighing not only on consumer businesses but also starting to affect enterprise demand.
TI in August lowered its view for the third quarter, saying it was seeing broad-based weakness across its customers and markets. The company on Monday echoed those comments and provided lower-than-expected earnings guidance for the current quarter.
Shares, up 11% over the past 12 months through Monday's close, slipped 1.3% to $31.27 in after-hours trading. The stock had climbed 4% during the regular session trading, slightly better than the 3.4% gain in the Philadelphia SOX Semiconductor index.
Bernstein analyst Stacy Rasgon said weakness in the third and fourth quarters was broadly expected, with macroeconomic softness weighing on TI's business.
"Results weren't horrible versus where expectations were," Rasgon said. "Everyone expected it to be a messy quarter, but they actually beat this quarter."
Chief Financial Officer Kevin March said in an interview the market is beginning to bottom, with July seeing the sharpest drop in orders but the decline moderating in August and September. He said revenue hit a low in July and grew the following two months.
He said the market declines aren't driven by excess semiconductor inventory but noted customers are being cautious with orders on worries about the macroeconomic environment.
"Customers had been reducing their internal inventories, and that's causing us and our competitors in the semiconductor industry to see revenue decline more sharply than what our customers ard actually experiencing," he said.
Ron Slaymaker, vice president of investor relations, said during a conference call that the reduction in TI inventory by customers is largely past. He noted the company has a "reasonable" view of the fourth quarter but said demand beyond that is tied to what the macroeconomic environment is like.
TI predicted a fourth-quarter profit of 28 cents to 36 cents, including about 15 cents of acquisition-related costs, on revenue between $3.26 billion and $3.54 billion. Analysts, on average, were expecting earnings of 54 cents a share on revenue of $3.43 billion, according to Thomson Reuters. A year ago, TI reported fourth-quarter earnings of 78 cents a share on $3.53 billion in revenue.
TI has been benefiting in recent quarters from increased focus on its highly profitable analog and embedded-application chips, as well as its applications processor for smartphones, tablets and other devices. Last month, it closed a $6.5 billion deal for rival National Semiconductor, expanding its reach in the analog market.
The company's acquisition of National Semiconductor, while hurting fourth-quarter earnings by 15 cents a share, is helping buffer its revenue in the period, March said. At the midpoint of TI's guidance, sales are down about 2% sequentially with contributions from National Semiconductor's revenue. Taking that out, the midpoint would be down 10%, he said.
March added during a conference call that acquisition charges will total $260 million in the fourth quarter and then decline to about $150 million in the first quarter and $110 million in the second quarter. The charges should then fall by about $10 million per quarter until reaching $80 million, which is the amortization of intangibles amount. He said that would continue for about eight to 10 years.
March said smartphone demand remains "solid," but the company's other businesses are experiencing softness. Automotive customers are "being confronted by wary customers given the macroeconomic outlook," he said, while industrial demand is "weak." Communications infrastructure is slowing, while consumer and PC demand are below normal seasonality, March added.
For the latest quarter, TI reported a profit of $601 million, or 51 cents a share, down from $859 million, or 71 cents a share, a year earlier. The latest quarter included about 9 cents of costs tied to the acquisition. Revenue fell 7.3% to $3.47 billion.
The company last month forecast a per-share profit of 56 cents to 60 cents with revenue between $3.23 billion and $3.37 billion.
Gross margin narrowed to 50.3% from 54.5%.
Sales of analog chips, which provide almost half of total revenue, slipped 1.5% as earnings fell 20%. Revenue from the company's embedded processing segment declined 7% as earnings decreased 29%, while wireless sales dropped 24% amid lower demand for connectivity chips from key customers, pushing earnings down 57%.
Showing posts with label top news. Show all posts
Showing posts with label top news. Show all posts
What You Shold Know About The Gateway ID47H02u
The Gateway ID47H02u specification:
Processor Intel Core i5 2410M 2.3 GHz
Memory 4GB DDR3 1333 MHz
Chipset Intel HM65 Express
Graphics Intel HD 3000
Hard drive 500 GB 5400 rpm
Operating System Windows 7 Home Premium 64-bit
Screen 14”
Battery 6 cells
Gateway claims eight hours on a single charge, but realistically, you will get somewhere between six to seven hours of up time, depending on your workload.
Along with the impressive battery life, Gateway ID47H02u comes with one USB 3.0 port and two USB 2.0 ports. The USB 3.0 is still a rarity among mainstream class laptops. Gateway also able to pack 14-inch screen into a laptop that normally sports 13-inch screen. The laptop weighs in at 4.5 pounds, and adds another pound if you want to carry the AC adapter around.
Retail sales rise in US
Retail sales jump in US. Retail sales posted the biggest monthly gain in four months in February, despite a dip in consumer confidence and rising fuel prices. The Commerce Department said sales at the nation’s retailers rose 1 percent from January, and it revised January’s increase to 0.7 percent, twice its previous estimate.
“While built-up demand and positive job growth will continue to boost industry sales, the recent dip in consumer confidence and climb in fuel prices are a concern,” said Sandy Kennedy, president of the Retail Industry Leaders Association in Arlington. “It remains to be seen how much of an effect it will have on spending and if it will hamper the recent progress the economy has made.”
Consumers are paying more at the pump and higher gasoline prices were partially reflected in the increase in retail sales. The price has increased about 40 cents in the last three weeks in Austin to about $3.40 per gallon. Department store sales rose 1 percent, sales at electronics and appliance stores rose 0.9 percent and sales at restaurants rose 1.2 percent. Read more: Retail sales jump in February.
“While built-up demand and positive job growth will continue to boost industry sales, the recent dip in consumer confidence and climb in fuel prices are a concern,” said Sandy Kennedy, president of the Retail Industry Leaders Association in Arlington. “It remains to be seen how much of an effect it will have on spending and if it will hamper the recent progress the economy has made.”
Consumers are paying more at the pump and higher gasoline prices were partially reflected in the increase in retail sales. The price has increased about 40 cents in the last three weeks in Austin to about $3.40 per gallon. Department store sales rose 1 percent, sales at electronics and appliance stores rose 0.9 percent and sales at restaurants rose 1.2 percent. Read more: Retail sales jump in February.
Carlos Slim is world's richest man
Carlos Slim is world's richest man. The richest man in the world remains Carlos Slim, according to Forbes magazine's list of billionaires. The number of billionaires increased by 199 in the past year, according to the magazine, but it was the Mexican telecom magnate Slim, who kept the No. 1 spot for the second year by increasing his worth by $20.5 billion to $74 billion.
Microsoft Corp. co-founder Bill Gates, who is worth $56 billion, is No. 2 on the list. Investor Warren Buffet comes in at No.3 with a net worth of $50 billion.
The fastest growing net worth belongs to Facebook CEO Mark Zuckerberg, who more than tripled his wealth to $13.5 billion, putting him at the No. 52 position on the list, the magazine reported.
How Carlos Slim made his fortune?
Slim had a pretty cushy life growing up, his father became wealthy by working as a real estate salesman. After graduating with a degree in engineering from the National Autonomous University of Mexico, Slim began investing in multiple businesses throughout Mexico. Soon, these businesses became the base of his conglomerate Grupo Carso.
It turns out, the economic crash of 1982 was a good for Slim because during that time period he was able to crack into billionaire status. By using some business tactics and savvy negotiating Slim was able to purchase companies at extremely low prices and have a say in their various interests. With strong management skills Slim was able to increase their value exponentially in the next ten years.
Carlos Slim Helú made a great portion of his earnings with his ownership of Teléfonos de México or Telmex. The money earned from Telmex allowed him to broaden his scope to technology and U.S. firms. When Telmex was privatized Slim was able to strengthen the monopoly and increase his earnings. This year, Slim was reported as having a $74 billion net worth which is a $20.5 billion increase from last year.
Microsoft Corp. co-founder Bill Gates, who is worth $56 billion, is No. 2 on the list. Investor Warren Buffet comes in at No.3 with a net worth of $50 billion.
The fastest growing net worth belongs to Facebook CEO Mark Zuckerberg, who more than tripled his wealth to $13.5 billion, putting him at the No. 52 position on the list, the magazine reported.
How Carlos Slim made his fortune?
Slim had a pretty cushy life growing up, his father became wealthy by working as a real estate salesman. After graduating with a degree in engineering from the National Autonomous University of Mexico, Slim began investing in multiple businesses throughout Mexico. Soon, these businesses became the base of his conglomerate Grupo Carso.
It turns out, the economic crash of 1982 was a good for Slim because during that time period he was able to crack into billionaire status. By using some business tactics and savvy negotiating Slim was able to purchase companies at extremely low prices and have a say in their various interests. With strong management skills Slim was able to increase their value exponentially in the next ten years.
Carlos Slim Helú made a great portion of his earnings with his ownership of Teléfonos de México or Telmex. The money earned from Telmex allowed him to broaden his scope to technology and U.S. firms. When Telmex was privatized Slim was able to strengthen the monopoly and increase his earnings. This year, Slim was reported as having a $74 billion net worth which is a $20.5 billion increase from last year.
BP CEO Bob Dudley Apologises for Oil Spill
BP Chief Executive Robert Dudley inherited quite a bit of a mess from former CEO Tony Hayward, he of the loose lips, in the the form of last year's terrible oil spill in the Gulf of Mexico. But Dudley wants everyone to know that he's totally sorry.
"I am sorry for what happened last year," he told the lunch crowd at CERAweek conference in Houston today, reports Forbes. "BP is sorry. BP gets it. BP is changing."
"We are determined we will once again restore that trust and I realize this requires action, not words."
He says they've done various things like paying out billions in claims and investing in the Gulf of Mexico Research intiative, as well as independent third party verification of "blowout preventers and better testing for cement jobs, well-integrity, rig safety. The company will no longer take rigs that don't meet safety standards."
You had us at "blowout preventers," but yeah, making sure unsafe rigs are no longer floating around ready to gush tons of oil is also probably a good idea.
Dudley is going even further and creating a new group that dispatches safety specialists around the globe, which has already shut down a production platform in Azerbaijan, and another in the Gulf of Mexico for infractions that needed to be addressed before they continued to operate. He hopes that the changes BP makes will spread to others in the industry, in order to make sure no one else causes such a calamity. View full post on BP's CEO Is Super Sorry About That Oil Spill. In othernews, Alice in Chains Bassist, Mike Starr Dead at 44.
"I am sorry for what happened last year," he told the lunch crowd at CERAweek conference in Houston today, reports Forbes. "BP is sorry. BP gets it. BP is changing."
"We are determined we will once again restore that trust and I realize this requires action, not words."
He says they've done various things like paying out billions in claims and investing in the Gulf of Mexico Research intiative, as well as independent third party verification of "blowout preventers and better testing for cement jobs, well-integrity, rig safety. The company will no longer take rigs that don't meet safety standards."
You had us at "blowout preventers," but yeah, making sure unsafe rigs are no longer floating around ready to gush tons of oil is also probably a good idea.
Dudley is going even further and creating a new group that dispatches safety specialists around the globe, which has already shut down a production platform in Azerbaijan, and another in the Gulf of Mexico for infractions that needed to be addressed before they continued to operate. He hopes that the changes BP makes will spread to others in the industry, in order to make sure no one else causes such a calamity. View full post on BP's CEO Is Super Sorry About That Oil Spill. In othernews, Alice in Chains Bassist, Mike Starr Dead at 44.
Jobless Claims Decrease Last Week
Jobless Claims Drop. Service industries expanded in February at the fastest pace since 2005 and fewer Americans unexpectedly filed claims for jobless benefits, adding to evidence the U.S. recovery is gaining strength. The Institute for Supply Management’s index of non-manufacturing businesses increased to 59.7 last month from 59.4 in January. A reading above 50 signals growth. The number of initial applications for unemployment insurance payments fell by 20,000 to 368,000 last week, the lowest since May 2008 and fewer than the most optimistic forecast in a Bloomberg News survey, figures from the Labor Department showed.
Stocks rose as the figures supported the Federal Reserve’s assessment that the labor market is on the mend following the loss of 8.75 million positions during the recession. Brighter prospects about personal finances are bolstering consumer confidence, another report showed, increasing the odds that Americans will keep spending at stores like J.C. Penney Co. and Macy’s Inc. See more about Jobless Claims Drop.
“You’re getting a picture of an economy that is quite strong already and perhaps gathering momentum,” said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut. “Sentiment has been picking up over the last two or three months and that stands to reason -- the stock market has done better, the economy has certainly done better, and, most importantly, the labor market is improving.” The Standard & Poor’s 500 Index rose 1.7 percent to 1,330.97 at the 4 p.m. close in New York for its biggest gain in three months. The index is up 21 percent in the past six months. Source: businessweek.com
Stocks rose as the figures supported the Federal Reserve’s assessment that the labor market is on the mend following the loss of 8.75 million positions during the recession. Brighter prospects about personal finances are bolstering consumer confidence, another report showed, increasing the odds that Americans will keep spending at stores like J.C. Penney Co. and Macy’s Inc. See more about Jobless Claims Drop.
“You’re getting a picture of an economy that is quite strong already and perhaps gathering momentum,” said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut. “Sentiment has been picking up over the last two or three months and that stands to reason -- the stock market has done better, the economy has certainly done better, and, most importantly, the labor market is improving.” The Standard & Poor’s 500 Index rose 1.7 percent to 1,330.97 at the 4 p.m. close in New York for its biggest gain in three months. The index is up 21 percent in the past six months. Source: businessweek.com
Westboro Baptist Church can protest at military funerals
Westboro Baptist Church can protest at military funerals. The Supreme Court has handed down a decision in the Westboro Baptist Church case. The court rules, 8 – 1, that the father of a slain Marine could not sue the Westboro church for protesting during his son’s funeral.
Call it free speech 101. The hard part about the First Amendment is that you have to allow people to say all manner of annoying, vulgar, and inappropriate things at the wrong times.
Not that Justice Samuel Alito thinks so. Alito was the lone dissenter in this case. Alito was also the lone dissenter in the Stevens case — the one that overturned a ban on animal crush videos on First Amendment grounds. But he voted with the majority in Citizens United.
I can’t wait until Sam “Not True” Alito writes a book or something about exactly why regular people don’t deserve the free speech given to American corporations and sitting Supreme Court Justices. Most reasonable people agree that these Westboro people are distasteful nutjobs. But what can you do. This is America, and everybody has a right to make an ass of themselves. We can’t take away the right of people to act a fool, isn’t that right Alito?
Call it free speech 101. The hard part about the First Amendment is that you have to allow people to say all manner of annoying, vulgar, and inappropriate things at the wrong times.
Not that Justice Samuel Alito thinks so. Alito was the lone dissenter in this case. Alito was also the lone dissenter in the Stevens case — the one that overturned a ban on animal crush videos on First Amendment grounds. But he voted with the majority in Citizens United.
I can’t wait until Sam “Not True” Alito writes a book or something about exactly why regular people don’t deserve the free speech given to American corporations and sitting Supreme Court Justices. Most reasonable people agree that these Westboro people are distasteful nutjobs. But what can you do. This is America, and everybody has a right to make an ass of themselves. We can’t take away the right of people to act a fool, isn’t that right Alito?
Collective bargaining protests to resume
With a vote in the Ohio Senate considered likely this week, opponents of Senate Bill 5 plan to resume protesting Tuesday against the restrictions on public employee collective bargaining, this time with a musical backdrop. ProgressOhio, a liberal advocacy group, announced that “The Street Dogs”, a Boston band fronted by the founding singer of the “Dropkick Murphys”, will perform outside the Statehouse at 1 p.m. Tuesday.
The band has recently performed at protests outside the Wisconsin Statehouse, where a similar battle over public employee collective bargaining is raging. Also, ProgressOhio has launched a website, sb5ohio.com, to keep up with events surrounding the issue. Meanwhile, Senate President Tom Niehaus, R-New Richmond, used a news release to rip into Senate Democrats for declining to participate in negotiate possible changes in the bill.
“As I sat down today to review the amendments submitted by Friday’s deadline, I expected to see their constructive ideas on how to address the concerns they’ve expressed, but they refused to submit a single change,” Niehaus said. “Much like their counterparts in Wisconsin, they apparently would rather grandstand in defense of the status quo.” Source: daytondailynews.com
The band has recently performed at protests outside the Wisconsin Statehouse, where a similar battle over public employee collective bargaining is raging. Also, ProgressOhio has launched a website, sb5ohio.com, to keep up with events surrounding the issue. Meanwhile, Senate President Tom Niehaus, R-New Richmond, used a news release to rip into Senate Democrats for declining to participate in negotiate possible changes in the bill.
“As I sat down today to review the amendments submitted by Friday’s deadline, I expected to see their constructive ideas on how to address the concerns they’ve expressed, but they refused to submit a single change,” Niehaus said. “Much like their counterparts in Wisconsin, they apparently would rather grandstand in defense of the status quo.” Source: daytondailynews.com
is collective bargaining system really great?
The Wisconsin fight over public sector unions is an interesting one. The Governor and an apparent majority of legislators are trying to pass a law that would change the way most state employees organize, in addition to financial issues. The touchstone issue is whether workers will keep their collective bargaining rights. At least, that's the way it is being phrased in the media. But I wonder if that phrasing obscures the matter.
Consider the phrasing of this Gallup poll (which was the top story in yesterday's USA Today). Would you favor or oppose a law in your state taking away some collective bargaining rights of most public unions, including the state teachers union?
Yikes. Even a cold-hearted economist like me isn't in favor of TAKING AWAY stuff from others. Let alone taking away their RIGHTS. That sounds mean, which is why 61 percent of respondents were opposed. No doubt, the response would be different if the question involved trade-offs, which is what real-world choices are about. For example:
Would you favor a law in your state ending collective bargaining for public-sector workers or higher taxes on your children over the next few decades? or Would you favor a law in your state ending collective bargaining for public-sector workers so that they could have individual bargaining rights? or Would you favor a law in your state ending collective bargaining for public-sector workers so that the state could offer higher salaries to the best teachers?
The fact is that worker rights are important. But I wonder why the issue is not framed in terms of the contrast between individual rights versus collective rights. Clearly, a collective is hostile to the flexibility that would allow merit to be finely recognized and rewarded. No? I just don't understand why a worker in a modern service-sector economy would even want collective rights. I understand their importance for a muscle-driven industrial economy where powerful firms can exploit labor. But America isn't that country, especially not when the employer is a state government. But perhaps I don't know the brutal history of Wisconsin's autocratic rulers. Read more on: CSMonitor.com
Consider the phrasing of this Gallup poll (which was the top story in yesterday's USA Today). Would you favor or oppose a law in your state taking away some collective bargaining rights of most public unions, including the state teachers union?
Yikes. Even a cold-hearted economist like me isn't in favor of TAKING AWAY stuff from others. Let alone taking away their RIGHTS. That sounds mean, which is why 61 percent of respondents were opposed. No doubt, the response would be different if the question involved trade-offs, which is what real-world choices are about. For example:
Would you favor a law in your state ending collective bargaining for public-sector workers or higher taxes on your children over the next few decades? or Would you favor a law in your state ending collective bargaining for public-sector workers so that they could have individual bargaining rights? or Would you favor a law in your state ending collective bargaining for public-sector workers so that the state could offer higher salaries to the best teachers?
The fact is that worker rights are important. But I wonder why the issue is not framed in terms of the contrast between individual rights versus collective rights. Clearly, a collective is hostile to the flexibility that would allow merit to be finely recognized and rewarded. No? I just don't understand why a worker in a modern service-sector economy would even want collective rights. I understand their importance for a muscle-driven industrial economy where powerful firms can exploit labor. But America isn't that country, especially not when the employer is a state government. But perhaps I don't know the brutal history of Wisconsin's autocratic rulers. Read more on: CSMonitor.com
Political Turmoil in Middle East and North Africa Haunt Financial Market
Political turmoil in the Middle East and North Africa continued to haunt financial markets on Tuesday, pushing up crude oil, driving down stock prices and sending investors into safe-haven investments. The unrest seen during the overthrow of the leaders of Egypt and Tunisia has swept into Bahrain, Algeria and Libya. There have also been demonstrations in Yemen, Jordan, Syria and Lebanon.
“Over the past few weeks we had a domino effect, and the concern is that anything can happen,” said Justin Urquhart Stewart, a founder of Seven Investment Management in London. “At the moment the ripple is very small, but it has the potential to turn into something bigger quickly.”
Much of the uncertainty is being stoked by fears over oil supplies. Analysts have been keeping an eye on Libya, which has the largest oil reserves in Africa, and on Bahrain, which is next to Saudi Arabia.
“Geopolitical ripples in the Middle East are the basis for today’s decline,” said Lawrence R. Creatura, a portfolio manager at Federated Investors.
“Higher energy prices act like a tax on consumers, reducing the amount of discretionary purchasing power that they have,” Mr. Creatura said. “It represents an additional, potential headwind for retailers.”
Treasury prices rose and stocks declined in the United States, where the main Wall Street stock indexes have risen steadily in recent months to levels not seen since the financial crisis started.
In the last hour, the Dow Jones industrial average was down 205.33 points, or 1.66 percent. The broader Standard & Poor’s 500-stock index declined 29.58, or 2.2 percent, while the technology heavy Nasdaq lost 75.50 points, or 2.7 percent.
Markets in Europe and Asia were also lower. In Europe, the FTSE-100 in London lost 0.3 percent while the CAC-40 in Paris declined by 1.1 percent. In Asia, the Nikkei 225 closed 1.8 percent lower on Tuesday, and the Hang Seng in Hong Kong sank 2.1 percent. Financials, industrials and materials shares shed more than 2 percent in the broader market in New York trading. In addition to the turmoil in the Middle East, investors took in some discouraging developments in the United States economy. Source: Political Fight Over Unions Escalates.
“Over the past few weeks we had a domino effect, and the concern is that anything can happen,” said Justin Urquhart Stewart, a founder of Seven Investment Management in London. “At the moment the ripple is very small, but it has the potential to turn into something bigger quickly.”
Much of the uncertainty is being stoked by fears over oil supplies. Analysts have been keeping an eye on Libya, which has the largest oil reserves in Africa, and on Bahrain, which is next to Saudi Arabia.
“Geopolitical ripples in the Middle East are the basis for today’s decline,” said Lawrence R. Creatura, a portfolio manager at Federated Investors.
“Higher energy prices act like a tax on consumers, reducing the amount of discretionary purchasing power that they have,” Mr. Creatura said. “It represents an additional, potential headwind for retailers.”
Treasury prices rose and stocks declined in the United States, where the main Wall Street stock indexes have risen steadily in recent months to levels not seen since the financial crisis started.
In the last hour, the Dow Jones industrial average was down 205.33 points, or 1.66 percent. The broader Standard & Poor’s 500-stock index declined 29.58, or 2.2 percent, while the technology heavy Nasdaq lost 75.50 points, or 2.7 percent.
Markets in Europe and Asia were also lower. In Europe, the FTSE-100 in London lost 0.3 percent while the CAC-40 in Paris declined by 1.1 percent. In Asia, the Nikkei 225 closed 1.8 percent lower on Tuesday, and the Hang Seng in Hong Kong sank 2.1 percent. Financials, industrials and materials shares shed more than 2 percent in the broader market in New York trading. In addition to the turmoil in the Middle East, investors took in some discouraging developments in the United States economy. Source: Political Fight Over Unions Escalates.
Should State employees Have collective-bargaining rights?
Collective bargaining does work despite what you hear. Our new governor wants to pass a bill to eliminate step raises and collective bargaining raises for state employees. First, let me explain that step raises were asked for by the state in collective bargaining in the 1980s because the state wanted to phase-in pay increases after a new hire served their probationary period and not move them to the pay scale right away.
Pay increases by merit instead of collective bargaining could take money away from thousands of Ohio families. Let me explain. Each state agency is given a set amount of money for operation per year. If this money is not spent, it is returned. This is almost never done. It gets spent. Let’s say that the management of a state agency only gives a special few a merit raise. The money that could be used for raises for all workers now can be used to give management employees raises. After all, they can always find a way to justify that they deserve it. Source: How Does Collective Bargaining Work?.
James Shorris
The Financial Industry Regulatory Authority, the self-regulatory arm of the U.S. brokerage industry regulator, said Friday that one of its top enforcement officers is resigning to join a law firm. James Shorris has been responsible for directing FINRA's investigations and prosecution activity for much of the past seven years. He served `s FINRA's interim head of enforcement after his former boss, Susan Merrill, quit in March 2010 to join the Bingham McCutchen law firm in New York.
Shorris was passed over for the top job in October when FINRA hired Bradley Bennett from law firm Baker Botts to run its enforcement division.
Shorris joined the National Association of Securities Dealers, Finra's predecessor, in 2003 as deputy enforcement chief. He advanced to the top position in 2006, but ceded the post to Merrill after the NASD merged with much of the New York Stock Exchange's regulation unit. Merrill was head of enforcement at NYSE Regulation. Shorris was a lawyer at Bingham McCutchen LLP in Boston prior to joining the NASD. Source: Reuters.com
Shorris was passed over for the top job in October when FINRA hired Bradley Bennett from law firm Baker Botts to run its enforcement division.
Shorris joined the National Association of Securities Dealers, Finra's predecessor, in 2003 as deputy enforcement chief. He advanced to the top position in 2006, but ceded the post to Merrill after the NASD merged with much of the New York Stock Exchange's regulation unit. Merrill was head of enforcement at NYSE Regulation. Shorris was a lawyer at Bingham McCutchen LLP in Boston prior to joining the NASD. Source: Reuters.com
Justin Bieber's Grammy Awards
Justin Bieber didn’t triumph in the Best New Artist category at the 2011 Grammy Awards. But between Bieber‘s polished red-carpet style, energetic performance and permanent grin, we think you’ll agree that he makes an awfully good-looking loser. That luminous skin! Those brilliant white teeth! The crookedly cute bow tie!
Of course, it’s hard to pick a favorite moment from Justin’s various appearances last night. So instead, we’ve put together a flipbook of nine of his most photogenic shots from the event. Behold the Biebs as he sports a gleaming white tux and cozies up to big-name stars like Usher, Rihanna, and Cee-Lo Green! Read more about Justin Bieber's Grammy Awards.
Celebrating Darwin Day on February 12
On Saturday, February 12th people around the world observe Darwin's birthday and his theory of evolution. First celebrated in 1909, Darwin Day was celebrated occasionally throughout the 20th century, but has recently been revitalized by educators around the world. This year alone there are over 500 planned public events are listed at DarwinDay.org, with gatherings hosted internationally and in all fifty states. Events range from small, low-key dinners to educational seminars designed to inform the young and old about Darwin's impact on our everyday life. And for the first time, Rep. Pete Stark of California proposed a resolution on the floor of the House of Representatives that "recognizes Charles Darwin as a worthy symbol on which to celebrate the achievements of reason, science, and the advancement of human knowledge."
While holidays are meant for fun and celebration, an annual event like Darwin Day is important in today's educational climate. As a national holiday, it trumpets not only the achievements of its namesake, but the accomplishments of the scientific community as a whole. Darwin's discoveries greatly advanced the human understanding of fields as various as genetics to epidemiology and his example is one worth emulating and celebrating.
Some celebrants also combine Darwin Day with a celebration of Abraham Lincoln, who was also born on February 12, 1809. Still others like to celebrate the many noted individuals that influenced or were influenced by Darwin's work, such as Thomas H. Huxley, Charles Lyell, Alfred Russel Wallace, Carl Sagan, and Ernst Mayr. Celebrating Darwin Day on February 12.
While holidays are meant for fun and celebration, an annual event like Darwin Day is important in today's educational climate. As a national holiday, it trumpets not only the achievements of its namesake, but the accomplishments of the scientific community as a whole. Darwin's discoveries greatly advanced the human understanding of fields as various as genetics to epidemiology and his example is one worth emulating and celebrating.
Some celebrants also combine Darwin Day with a celebration of Abraham Lincoln, who was also born on February 12, 1809. Still others like to celebrate the many noted individuals that influenced or were influenced by Darwin's work, such as Thomas H. Huxley, Charles Lyell, Alfred Russel Wallace, Carl Sagan, and Ernst Mayr. Celebrating Darwin Day on February 12.
Gabrielle Giffords Shot in the Head
Rep. Gabrielle Giffords of Arizona was shot in the head Saturday and an unknown number of others were wounded when an assailant opened fire in an area where the lawmaker was meeting with constituents, officials said.
There were varying accounts on Giffords' condition, but a hospital spokesman said the Democrat was in critical condition. An aide to the Democrat was killed. An unknown number of others was injured, officials officials said, including additional aides to the lawmaker.
Congressional officials said one of the victims died soon after the attack, and others were taken to a nearby hospital. The officials said the wounded included some of Gifford's aides who were with her at the time.
Gabrielle Giffords was born on June 8, 1970. She served in the Arizona Senate from 2003 to 2005 and in the Arizona House of Representatives from 2001 to 2003. She is a member of the Democratic Party. She is said to be in "critical" condition and in surgery. Giffords is an avid reader and was featured on NPR's Weekend Edition on July 9, 2006. She discussed books she was currently reading, including First Man, a biography of astronaut Neil Armstrong and The Heartless Stone a book by Tom Zoellner about the intricacies of the diamond industry across several continents. Congresswoman Giffords was periodically interviewed together with Illinois Republican Peter Roskam on NPR's All Things Considered. The series focused on their experiences as freshman members of the 110th Congress. Source: Gabrielle Giffords Shot.
world food prices rising fast
World food prices continued to rise sharply in December, bringing them close to the crisis levels that provoked shortages and riots in poor countries three years ago, according to newly released United Nations data. Prices are expected to remain high this year, prompting concern that the world may be approaching another crisis, although economists cautioned that many factors, like adequate stockpiles of key grains, could prevent a serious problem.
The United Nations data measures commodity prices on the world export market. Those are generally far removed from supermarket prices in wealthy countries like the United States. In this country, food price inflation has been relatively tame, and prices are forecast to rise only 2 percent to 3 percent this year.
But the situation is often different in poor countries that rely more heavily on imports. The food price index of the United Nations Food and Agriculture Organization rose 32 percent from June to December, according to the report published Wednesday. In December, the index was slightly higher than it was in June 2008, its previous peak. The index is not adjusted for inflation, however, making an exact comparison over time difficult.
The global index was pushed up last year by rising prices for cooking oils, grains, sugar and meat, all of which could continue to remain high or rise.
"We are at a very high level," said Abdolreza Abbassian, an economist for the organization, which is based in Rome. "These levels in the previous episode led to problems and riots across the world." Abbassian said that bad weather affecting commodity crops in many exporting countries might help keep prices high over the next several months. Source: http://seattletimes.nwsource.com/
The United Nations data measures commodity prices on the world export market. Those are generally far removed from supermarket prices in wealthy countries like the United States. In this country, food price inflation has been relatively tame, and prices are forecast to rise only 2 percent to 3 percent this year.
But the situation is often different in poor countries that rely more heavily on imports. The food price index of the United Nations Food and Agriculture Organization rose 32 percent from June to December, according to the report published Wednesday. In December, the index was slightly higher than it was in June 2008, its previous peak. The index is not adjusted for inflation, however, making an exact comparison over time difficult.
The global index was pushed up last year by rising prices for cooking oils, grains, sugar and meat, all of which could continue to remain high or rise.
"We are at a very high level," said Abdolreza Abbassian, an economist for the organization, which is based in Rome. "These levels in the previous episode led to problems and riots across the world." Abbassian said that bad weather affecting commodity crops in many exporting countries might help keep prices high over the next several months. Source: http://seattletimes.nwsource.com/
Stock index futures pointed to a slightly higher
NEW YORK (Reuters) - U.S. stock index futures rose on Tuesday as optimism continued to permeate the market ahead of data on factory orders and car sales. * The climb in futures followed a rise in U.S. stock indexes on Monday on encouraging signs about the outlook for manufacturing around the world that prompted investors to inject new money into equities.
* Coming on the heels of recent data pointing to a growing economic recovery, investors will eye the Commerce Department's release of November factory orders at 10 a.m. EST (1500 GMT), with economists expecting a drop of 0.1 percent, compared with a 0.9 percent fall in the prior month.
* Monthly auto sales figures will also be closely watched. Fifteen economists surveyed by Reuters forecast December auto sales of about 12.3 million on the annualized and seasonally adjusted basis tracked by the industry.
* S&P 500 futures rose 4 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 48 points, and Nasdaq 100 futures added 7.5 points.
* Coming on the heels of recent data pointing to a growing economic recovery, investors will eye the Commerce Department's release of November factory orders at 10 a.m. EST (1500 GMT), with economists expecting a drop of 0.1 percent, compared with a 0.9 percent fall in the prior month.
* Monthly auto sales figures will also be closely watched. Fifteen economists surveyed by Reuters forecast December auto sales of about 12.3 million on the annualized and seasonally adjusted basis tracked by the industry.
* S&P 500 futures rose 4 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 48 points, and Nasdaq 100 futures added 7.5 points.
The Lauren Conrad Complete Business Plan
Lauren Conrad hopes that her new upcoming reality show will feed off her new businesses as well as feed off the show, a very crucial step for Lauren to take. Lauren’s ultimate goal is that her new ventures become a big, natural brand where Lauren won’t need to have cameras in front of her constantly, or cancel her show in other words.
Lauren’s fame started way back on Laguna Beach followed by The Hills where it’s made her a well-known brand to the millennial generation, with top-selling books and top sales at Kohl’s.
Being a good girl with relationship saga is what made Lauren Conrad a success on MTV without relying on sex-tapes and being friends with someone famous.
The Hills success had its’ drawbacks according to Lauren where she wasn’t seeing ancillary revenue from the show, or getting proper promotion of her original Lauren Conrad Collection, or Adam DiVello’s decision to edit out how The Hills success affected her life ultimately leading her to leave the show in 2009. Read more on The Lauren Conrad Business Plan. You can see another top news such as Paramore Start Work On New Album and Vanessa Hudgens is a Skin Care Sweetie.
Lauren’s fame started way back on Laguna Beach followed by The Hills where it’s made her a well-known brand to the millennial generation, with top-selling books and top sales at Kohl’s.
Being a good girl with relationship saga is what made Lauren Conrad a success on MTV without relying on sex-tapes and being friends with someone famous.
The Hills success had its’ drawbacks according to Lauren where she wasn’t seeing ancillary revenue from the show, or getting proper promotion of her original Lauren Conrad Collection, or Adam DiVello’s decision to edit out how The Hills success affected her life ultimately leading her to leave the show in 2009. Read more on The Lauren Conrad Business Plan. You can see another top news such as Paramore Start Work On New Album and Vanessa Hudgens is a Skin Care Sweetie.
The Complaints About Auto Defects Increased Sharply
Driver complaints to federal highway safety regulators soared this year, spurred by a slew of Toyota Motor Corp. recalls and a rush by other automakers to announce fix-it campaigns that focused the public's attention on auto defects. The National Highway Traffic Safety Administration received more than 40,000 complaints through Dec. 14, according to an analysis by automotive research firm Edmunds.com. That's four times the volume of recent years.
"People are now more aware that there is an agency called NHTSA and that you can complain to it. Complaints are a good thing," said Clarence Ditlow, executive director of the Center for Auto Safety. Toyota, long considered one of the most reliable brands, was the subject of more than a quarter of the complaints. Its ratio of complaints to 100,000 vehicles sold jumped to nearly 87 so far in 2010 from 37 a year earlier. This month Toyota agreed to pay $32.4 million in fines for failing to promptly inform regulators of defects in its vehicles, instead allowing millions of potentially dangerous vehicles to remain on the nation's roads.
Nissan Motor Co. had the second-worst ratio, at nearly 62 complaints per 100,000 vehicles sold; Volkswagen was third at nearly 58. The industry average was 47 complaints per 100,000 vehicles sold, up from fewer than 30 in 2009.
NHTSA is hearing from people such as Mark Cox of Leesburg, Va. He filed a complaint after his 2003 Subaru Legacy sedan and his 2004 Nissan Quest minivan failed routine state safety inspections because of clouded headlight lenses.
"They start to oxidize, and that reduces the amount of light that is transmitted out of your headlights. That is a safety and durability issue," Cox said, adding that he learned to file the complaints while reading about the Toyota auto defects issues.
"Maybe as more people bring these issues to light, and NHTSA looks at them, some of these problems will get fixed," Cox said. He still hasn't heard back from the agency, though. Nor has Hisham Alam of Huntington Beach, Calif., who filed a complaint with NHTSA this year after the engine in his 2002 Toyota Highlander froze. "The engine loosened from its bolts, breaking the head gasket and causing the oil and coolant to spill out," Alam said. "The dealer said it would cost $7,500 to fix." He found similar Toyota complaints on the NHTSA site and decided to file his own in October. He wound up paying $2,500 to an independent mechanic to rebuild the engine. Source: chicagotribune.com
"People are now more aware that there is an agency called NHTSA and that you can complain to it. Complaints are a good thing," said Clarence Ditlow, executive director of the Center for Auto Safety. Toyota, long considered one of the most reliable brands, was the subject of more than a quarter of the complaints. Its ratio of complaints to 100,000 vehicles sold jumped to nearly 87 so far in 2010 from 37 a year earlier. This month Toyota agreed to pay $32.4 million in fines for failing to promptly inform regulators of defects in its vehicles, instead allowing millions of potentially dangerous vehicles to remain on the nation's roads.
Nissan Motor Co. had the second-worst ratio, at nearly 62 complaints per 100,000 vehicles sold; Volkswagen was third at nearly 58. The industry average was 47 complaints per 100,000 vehicles sold, up from fewer than 30 in 2009.
NHTSA is hearing from people such as Mark Cox of Leesburg, Va. He filed a complaint after his 2003 Subaru Legacy sedan and his 2004 Nissan Quest minivan failed routine state safety inspections because of clouded headlight lenses.
"They start to oxidize, and that reduces the amount of light that is transmitted out of your headlights. That is a safety and durability issue," Cox said, adding that he learned to file the complaints while reading about the Toyota auto defects issues.
"Maybe as more people bring these issues to light, and NHTSA looks at them, some of these problems will get fixed," Cox said. He still hasn't heard back from the agency, though. Nor has Hisham Alam of Huntington Beach, Calif., who filed a complaint with NHTSA this year after the engine in his 2002 Toyota Highlander froze. "The engine loosened from its bolts, breaking the head gasket and causing the oil and coolant to spill out," Alam said. "The dealer said it would cost $7,500 to fix." He found similar Toyota complaints on the NHTSA site and decided to file his own in October. He wound up paying $2,500 to an independent mechanic to rebuild the engine. Source: chicagotribune.com
Brooklyn Decker - Just Go With It
Brooklyn Decker - Just Go With It. Yep, now it's time to relax. Brooklyn Decker was born on April 12, 1987. She is an American fashion model best known for her appearances in the Sports Illustrated Swimsuit Issue, including the cover of the 2010 issue. In addition to working for Victoria's Secret for the 2010 "Swim" collection, she has ventured into television with guest appearances on Chuck, Ugly Betty and Royal Pains.
Brooklyn Decker, world class WAG and one of the hottest women of the world, recently did a hot photo shoot for the Felina lingerie, showing off all of her good sides and triggering a frantic search on the internet for her lingerie pictures. The 23-year-old wife of the tennis star Andy Roddick, looks exceptionally sexy in plenty of panty and bra sets in the steamy photo shoot, meant to promote Felina Lingerie.
In addition to be a successful model, Brooklyn Decker’s career outside modeling is also taking off, as she has landed a number of roles in movies also. Broo
klyn Decker's movie career includes the blockbuster with Adam Sandler and Jennifer Aniston under the title of “Just Go With It” whereas her upcoming projects have a movie with Rihanna and Alexander Skarsgard called “Battleship”. Not only movies, but Brooklyn Decker has also made appearance in Television shows.
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