Hispanic Business Magazine

Feds Say They Want Stimulus Funds to Reach Minority-Owned Businesses

Thu, 2 Jul 2009 16:55:22 PST

The federal government is launching a campaign to put more stimulus money in the hands of minority-owned businesses, many of them reeling from this historic recession, now in its 20th month....

Fox Nation -- HuffPo for the 'Real Patriots?'

Thu, 2 Jul 2009 16:10:41 PST

The Fox Nation is still here -- dressed up perfectly for the 4th of July Independence Day Celebration....

Final Video of Michael Jackson Could Spell Legal Trouble For CNN

Thu, 2 Jul 2009 14:47:50 PST

Anyone curious about whether the King of Pop still had the skills to pay his multi-million-dollar bills can judge for themselves by watching this video of his final rehearsal....

Obama Calls June's Unemployment Data 'Sobering'

Thu, 2 Jul 2009 14:30:27 PST

WASHINGTON (dpa) -- The U.S. economy shed a surprising 467,000 jobs in June and the jobless rate climbed to 9.5 percent, in what President Barack Obama called a "sobering" sign that the country's deep recession is far from over....

Markets Plunge Ahead of Holiday Weekend

Thu, 2 Jul 2009 14:30:27 PST

NEW YORK (UPI) -- U.S. markets plunged Thursday after the Department of Labor said the unemployment rate rose from 9.4 percent to 9.5 percent in June. Economists had predicted a sharper increase, but 467,000 jobs lost in the month undermined confidence in a recovery....

'American Idol' Never Ends: Road Tour Going Live

Thu, 2 Jul 2009 14:30:27 PST

PORTLAND, Ore. (UPI) -- "American Idol" fans are about to get the chance to see some of the top contestants live and performing extended song lists....

Report: U.S. Continues To Lose the Battle With Obesity

Thu, 2 Jul 2009 12:47:26 PST

Despite how the phrase "obesity epidemic" has become a cliche -- and despite a nationwide movement in the public schools to combat the phenomenon -- the waistlines of Americans continue to expand, particularly in the South, according to a new report....

Watch Out! Expensive Fender Benders

Thu, 2 Jul 2009 12:44:08 PST

You are crawling in stop and go traffic when your eye catches an billboard for a brand new iPhone 3GS. You say to yourself, "Man, I'd really like to get one of those." Turns out the person in front of you already has one, and they are on it right now, playing Sudoku....

Summer of 2009: Convertible Lust

Thu, 2 Jul 2009 12:37:12 PST

Look, we realize you have work to do. And, really, we admire your nose-to-the grindstone dedication. But listen, we don't have to tell you that summer's warm days and balmy nights won't last forever....

Feds Home Refinancing Program Becomes More Inclusive

Thu, 2 Jul 2009 12:01:34 PST

Many more homeowners will be able to refinance under a federal program announced Wednesday that extended eligibility to those whose houses are worth up to 25 percent less than what is owed on them. ...

Study Reveals Lack of Board Diversity

Thu, 2 Jul 2009 11:04:58 PST

A new report states it in black and white: Color is lacking on the boards of directors of the 46 largest independent foundations in the United States....

American Independence and Beer Go Hand in Hand

Thu, 2 Jul 2009 10:58:29 PST

It is the Fourth of July, our national day of independence and I am not alone in reaching for a beer. Beer, on a volume basis, is by far the most popular alcoholic beverage in the U.S....

July 4th: Celebrating Independence Day

Thu, 2 Jul 2009 10:03:41 PST

The holiday weekend approaches, allowing ample opportunities to reflect on both freedom and fun....

July 4 Hot Dog Contest: The Superbowl of Eating

Thu, 2 Jul 2009 09:54:15 PST

If the official game of Thanksgiving is football, then the spectator sport for the July 4 is eating. Eating hot dogs, that is -- and as many as humanly possible in 10 minutes....

Python Strangles 2-year-old Girl in Florida

Thu, 2 Jul 2009 08:46:16 PST

OXFORD, Fla. - A 2-year-old girl was strangled by an albino Burmese python more than 8-feet long early Wednesday morning in this rural Florida community, according to authorities. Officials with Florida Fish and Wildlife Conservation Commission, or FWC, said it's likely this may be the state's first case of a non-venomous constrictor snake causing a death....

Continental Wants in-Flight Attendants to Consider Leaves

Thu, 2 Jul 2009 08:46:16 PST

Continental Airlines is asking its 9,500 flight attendants to consider taking voluntary temporary leaves starting Sept. 1 to help cut costs. The nation's fourth-biggest airline has pruned flights from its schedule to reduce its flying capacity by 6 percent for the year, and now is looking to cut back on flight crews....

Factory Orders Enjoy 1.2 Percent Bump in May

Thu, 2 Jul 2009 08:46:16 PST

WASHINGTON (Xinhua) -- New orders for manufactured goods to U.S. factories rose by 1.2 percent in May, far better than the 0.8 percent growth economists had been expecting, the Commerce Department reported on Thursday....

Dems' 60-Vote 'Supermajority' May Have Cracks

Thu, 2 Jul 2009 08:46:16 PST

WASHINGTON (UPI) -- Adding Minnesota's Al Franken to the U.S. Senate's Democratic fold may give the party a supermajority, but using that leverage may remain difficult, lawmakers say....

Declaration of Independence: July 4, 1776

Thu, 2 Jul 2009 08:30:19 PST

On July 4, 1776, patriots from thirteen states signed a document that declared their independence as a nation. Full text of the Declaration of Independence follows. Among the signers was John Hancock, whose easily recognized, flourishing signature on the document caused his name to be synonymous with "signature" in the modern vernacular: ...

$2 Million Settles Kickback Scandal

Thu, 2 Jul 2009 07:50:03 PST

A California financial company on Wednesday agreed to repay $2 million to New York state's giant public pension fund after one of the company's former partners was implicated in paying a kickback to secure investment deals from the fund....

Schwarzenegger Hopes IOUs Sway Budget Debate

Thu, 2 Jul 2009 07:50:03 PST

If the stigma of issuing IOUs triggers a budget deal in the coming days, Gov. Arnold Schwarzenegger might find redemption in his strategy of quashing a stopgap solution that would have avoided those non-cash payments....

California's Greenhouse Gas Rules Can Take Effect with Obama Reversal of Bush

Thu, 2 Jul 2009 07:50:03 PST

In a major victory for environmentalists and Gov. Arnold Schwarzenegger, the Obama administration on Tuesday granted California permission to set the nation's first rules requiring automakers to reduce global warming emissions from new cars, minivans, pickups and SUVs....

Jobless Rate Increases to 9.5 Percent in June

Thu, 2 Jul 2009 07:50:03 PST

WASHINGTON (dpa) -- The U.S. recession continues to take a heavy toll as the country's unemployment rate climbed to 9.5 percent and 467,000 jobs were shed in June, the Labor Department said Thursday. The monthly figures were worse than expected, after the U.S....

Wall Street Tumbles after Jobs Losses Top Estimate

Thu, 2 Jul 2009 07:50:02 PST

Wall Street took a dive in early trading on Thursday, after the U.S. government reported that the June unemployment rate hit a 26-year high. The U.S. Labor Department's unemployment figures showed employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy's road to recovery will be bumpy....

California Now Operates on IOUs, More U.S. States Could Follow

Thu, 2 Jul 2009 07:50:02 PST

LOS ANGELES (Xinhua) -- California became the first U.S. state Wednesday to operate on IOU, which means "I owe you," after the state's legislature failed to reach an agreement on a balanced budget. Being the most populous state in the United States, California accounts for 12 percent of the nation's gross domestic product (GDP) and the largest share of retail sales of any state....

Boeing Looking To Buy Supplier Operations

Thu, 2 Jul 2009 07:50:02 PST

(SmarTrend(R) News Watch) -- Boeing (NYSE:BA) is reportedly talking to Vought Aircraft Industries of Dallas, about buying one of its facilities that makes fuselage parts for the 787 Dreamliner. Private-equity firm Carlyle Group currently owns Vought....

DuPont Partners with U.S. Government on Solar Program

Thu, 2 Jul 2009 07:50:02 PST

(SmarTrend(R) News Watch) -- DuPont (NYSE:DD) announced plans with the U.S. Department of Energy (DOE) for a $9 million solar research program --- part of the company's overall effort in providing more mainstream solar photovoltaic (PV) products for commercial and residential applications....

Telefonica, Vodafone Consider Bid for T-Mobil UK

Thu, 2 Jul 2009 07:50:02 PST

Telefonica SA (NYSE:TEF) is eying a bid for Deutsche Telekom's (NYSE:DT) T-Mobile UK, which analysts value between EUR3 billion and EUR4 billion after several years of underpeformance, according to a Financial Times report....

Banks Fight Obama's Protection Agency Pitch

Thu, 2 Jul 2009 07:50:02 PST

Banks and mortgage lenders are placing top priority on killing President Barack Obama's proposal to create a new consumer protection agency that would regulate home loans, credit card fees, payday loans and other forms of consumer finance....

2010 Chevy Equinox: Good Move for New GM

Thu, 2 Jul 2009 06:41:25 PST

The first all-new product from the all-new General Motors (OTC:GMGMQ) is bound to be scrutinized. After all, bankrupt GM has, like Chrysler, been propped up by your tax dollars, so it seems fair to pay close attention to how our money is being spent....

Obama Expands Program for 'Underwater' Borrowers

Thu, 2 Jul 2009 06:41:25 PST

The Obama administration on Wednesday expanded efforts to help Americans struggling with distressed mortgages refinance at lower interest rates, even if they owe up to 25 percent more than their homes are now worth....

U.S. Sticks to July 10 Deadline for a New GM

Thu, 2 Jul 2009 06:41:25 PST

The U.S. government will cut off money to General Motors (OTC:GMGMQ) if the automaker does not get a judge's approval by July 10 to create a new GM, a senior U.S. Treasury official said Wednesday. ...

Unemployment Hits 9.5 Percent in June

Thu, 2 Jul 2009 06:41:25 PST

U.S. companies shed 467,000 jobs in June and the country's unemployment rate climbed to 9.5 per cent, the US Labour Department said Thursday. The figures were worse than expected. Economists had predicted only 365,000 jobs to be cut on the month, according to a Bloomberg News survey. ...

GM Pressed to Approve Reorganization Plan by July 10

Thu, 2 Jul 2009 06:41:25 PST

General Motors' crucial bankruptcy court hearing entered its third day Thursday, with hundreds of creditors still challenging the carmaker's restructuring plan. The case came before the New York court on Tuesday....

Consumers Still Buying Cars Despite Bankruptcies

Thu, 2 Jul 2009 06:41:25 PST

Sales for US carmakers are holding up despite two of Detroit's so-called Big Three spending at least part of June in bankruptcy, according to monthly sales data released Wednesday. But Ford, the only major US carmaker to avoid bankruptcy, has taken advantage of the woes of its domestic rivals....

NYC Runs Out of Film Tax Credit Cash

Wed, 1 Jul 2009 15:53:11 PST

NEW YORK (UPI) -- New York City officials say they are out of money to hand out in tax credits for film and television productions. The city's program, which enabled film and television producers to claim a 5 percent tax credit on top of a 30 percent credit from the state of New York, has run dry of funds ahead of the July Fourth holiday, The Hollywood Reporter said Wednesday....

Karl Malden, Streets of San Francisco & On the Waterfront Actor, Dead at 97

Wed, 1 Jul 2009 15:25:13 PST

WASHINGTON (dpa) -- Karl Malden, 97, an Academy-Award winning actor who played the priest in the classic film On the Waterfront, died of natural causes Wednesday at his home in California, The Los Angeles Times reported....

Proactive: Awards and Honors Abound

Wed, 1 Jul 2009 15:13:45 PST

Gaby Alban, co-founder and COO of marketing firm Conexión, has received the "Latinas in Business Award" from the Los Angeles chapter of the National Latina Business Women Association....

Markets Rise on Optimism

Wed, 1 Jul 2009 14:40:07 PST

NEW YORK (UPI) -- U.S. markets closed higher Wednesday to start the third quarter, which follows a quarter that saw the Dow Jones industrial average gain 11 percent. Sentiment has shifted tentatively toward a more optimistic mood, although some investors remain cautious as unemployment, at 9.4 percent, is expected to rise and spending remains sluggish....

Jackson's Will Names Diana Ross as Backup Guardian

Wed, 1 Jul 2009 14:26:30 PST

LOS ANGELES (dpa) - The late singer Michael Jackson named fellow music great Diana Ross as the backup guardian of his three children in the event that his mother Katherine, 79, was unable to fulfill that role, according to his 2002 will revealed on Wednesday....

Neverland Burial Plans for Michael Jackson Dropped

Wed, 1 Jul 2009 14:26:30 PST

LOS ANGELES (UPI) -- Michael Jackson will not be buried at his former California residence, Neverland ranch, despite the wishes of his family, sources say. Quoting an unnamed source close to the situation, the Los Angeles Times said Wednesday that even though Gov....

Ford Reports Best Sales Performance This Year

Wed, 1 Jul 2009 14:20:20 PST

DETROIT -- Ford Motor Co. said Wednesday that its sales of new cars and trucks declined 11.3% in June - the automaker's best monthly sales performance this year. The Ford Fusion midsize sedan was a top performer, with sales increasing 26 percent to 18,561....

Schwarzenegger Declares Fiscal Emergency in California

Wed, 1 Jul 2009 14:20:20 PST

Sacramento (dpa) -- California governor Arnold Schwarzenegger on Wednesday declared a fiscal emergency as lawmakers failed to pass a budget to close the state's $24.3 billion budget gap. The emergency means that the state may start issuing IOUs instead of checks as soon as Wednesday....

U.S. Automakers Still Selling Despite Bankruptcy

Wed, 1 Jul 2009 14:20:20 PST

WASHINGTON (dpa) -- The slide in sales for U.S. carmakers continued to ease slightly in June, despite two of the so-called Detroit Three spending at least part of the month in bankruptcy, according to monthly sales data released Wednesday....

Independence Day Comes With a Whimper, Not a Bang, as Cash-Strapped Cities Ax Fireworks Shows

Wed, 1 Jul 2009 12:35:55 PST

In many cities this year, the economy's bust means the loss of any Fourth of July boom. That's because fireworks budgets across the land have taken a significant hit as cities trim expenses to maintain their level of services....

Near-Broke California Poised to Issue IOUs In Lieu of Cash

Wed, 1 Jul 2009 11:58:16 PST

The state of California has officially run out of cash. Now, it appears the fallout from California's epic budget shortfall is about to trickle down from the chambers of the lawmakers to the hands of the people -- in the form of IOUs....

gdgt Goes Live: Rojas and Block's New Site for Hardcore Gadget Fans

Wed, 1 Jul 2009 11:39:27 PST

Gadget lovers, welcome to your new online home. Conceived by its founders as a gadget site where fans could "hang out all day," gdgt combines a sleek interface, gadget database, and social networking-style features to create a forum where the devices are the stars....

Hollywood Studios Close to DVD merger

Wed, 1 Jul 2009 11:09:15 PST

Los Angeles (dpa) - Hollywood studio Paramount is in advanced talks with Sony and Fox to merge their DVD manufacturing and distribution operations, the Los Angeles Times reported Wednesday. The move comes amid a precipitous slowdown in DVD sales that have become a vital source of revenue for Hollywood's film studios....

U.S. SEC Approves Rule on Executive Pay Disclosure for TARP Firms

Wed, 1 Jul 2009 11:09:15 PST

WASHINGTON (Xinhua) -- The U.S. Securities and Exchange Commission (SEC) on Wednesday approved a rule giving shareholders a vote on executive pay of banks that have received government bailout money. ...

AIG Completes Reverse Stock Split

Wed, 1 Jul 2009 11:09:15 PST

American International Group (NYSE: AIG) opened at $19.65. So far today, the stock has hit a low of $19.55 and a high of $22.96. AIG is now trading at $20.74, down $2.46 (-10.6%). Over the last 52 weeks the stock has ranged from a low of $.33 to a high of $31.09....

Sin Cambio

Wed, 1 Jul 2009 10:44:03 PST

El banco central de Estados Unidos, conocido como la Reserva Federal, decidió la semana pasada dejar sin cambio la política monetaria. Conforme lo anticipado, la tasa de interés de los fondos federales, a la cual los bancos se prestan entre sí, fue dejada igual, dentro de un rango de 0 a 0,25 por ciento....

Fed's Moves Indicate No Major Changes Foreseen in Economy

Wed, 1 Jul 2009 09:35:07 PST

The U.S. central bank, known as the Federal Reserve, decided last week to leave monetary policy unchanged. As it was widely anticipated, the federal funds interest rate, at which banks lend to each other overnight, was kept as it was, within a range of zero to 0.25 percent....

Alexis Arguello, Boxing Champ and Politician, Found Dead via Gunshot Wound

Wed, 1 Jul 2009 09:23:02 PST

One of boxing's all-time greats, Alexis Arguello, was found dead early this morning....

Trade-in Lure May Sell Cars While Saving Gas

Wed, 1 Jul 2009 08:25:40 PST

Maybe it's time you and your jalopy parted ways. Sure, you've had some laughs, but now your thoughts are focused on a shiny paint job, decent mileage and that new-car smell. The relationship counselor in this case: President Barack Obama....

Obama Proposes Agency to Protect Consumers

Wed, 1 Jul 2009 08:25:40 PST

The Obama administration Tuesday proposed legislation for a financial oversight agency designed to protect consumers and investors from unscrupulous deals -- a plan praised by Democrats, but met with skepticism on Wall Street....

Obama's Health Care Plan Has Slim Majority Support

Wed, 1 Jul 2009 08:25:40 PST

WASHINGTON (Xinhua) -- U.S. President Barack Obama's health care reform plan has slim majority support, according to a new survey released on Wednesday. The CNN/Opinion Research Corp. poll showed that 51 percent of the respondents favored the president's health care plan, with 45 percent opposed....

Wal-Mart Reverses Stance on Healthcare

Wed, 1 Jul 2009 08:25:40 PST

WASHINGTON (UPI) -- U.S. retail giant Wal-Mart said it would support mandated employer healthcare contributions under certain conditions. The influential discount retailer said it would support a health insurance plan of moderate cost -- within the range of what it already offers to most of its workers....

Thousands Crowd the Apollo Theater For Michael Jackson Tribute

Wed, 1 Jul 2009 08:21:22 PST

NEW YORK - Michael Jackson's memorial Tuesday at the Apollo Theater was, like nearly everything else in his life, a singular spectacle, filled with sing-alongs and stomping feet, lots of dancing and a few tears....

TV Remotes to Undergo Big Change

Wed, 1 Jul 2009 08:21:22 PST

DALLAS -- In 1955, Zenith introduced the first wireless TV remote control, the Flash-Matic, followed a year later by the Space Command. Since then, the standard remotes that most viewers get with their TVs or when they sign up for cable have changed little, adding buttons but retaining the same basic design and button format in an effort to keep costs low....

Dunkin' Donuts Salmonella Scare Prompts Precaution

Wed, 1 Jul 2009 08:21:22 PST

Dunkin' Donuts has temporarily stopped selling hot chocolate and Dunkaccino brand beverages after learning equipment used at a supplier's facility might have been contaminated with salmonella....

Board Trims Per-Diem Pay, Cars, Benefits for California Legislators

Wed, 1 Jul 2009 08:21:22 PST

As legislators battled over the state budget Tuesday, an independent commission voted to slash lawmakers' per-diem payments, car allowances and medical and other fringe benefits by 18 percent. The vote in Sacramento by the California Citizens Compensation Commission follows the board's vote last May to cut legislator and constitutional state officer salaries by 18 percent as of December 2010....

Feds Have Ways to Help Small Businesses

Wed, 1 Jul 2009 08:21:22 PST

For small business owners like Sacramentan Betty Davis, this is a make-or-break year. Stretched thin by the economy, the owner of Culture Collection gift shop finds it increasingly hard to stay afloat at her Riverside Boulevard shop....

Michael Jackson Demanded Diprivan, a Powerful Sedative

Wed, 1 Jul 2009 08:21:22 PST

LOS ANGELES (UPI) -- A registered nurse says the U.S. pop star Michael Jackson suffered debilitating bouts of insomnia before his death and demanded a powerful sedative from her. Cherilyn Lee, a registered nurse and nutritionist, said Jackson pleaded for her to give him Diprivan, which she says she refused to do, CNN reported Wednesday....

Michael Jackson Will Unveiled

Wed, 1 Jul 2009 08:21:22 PST

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GM Investment is Long Term

Wed, 1 Jul 2009 08:21:22 PST

The U.S. government's $50 billion investment in General Motors Corp. will take years to recoup under the best of circumstances, industry analysts said. GM filed for bankruptcy June 1 and is expected to emerge as a smaller company with fewer factories and significantly less capacity....

Storytelling: A Powerful Business Tool

Wed, 1 Jul 2009 08:21:22 PST

During a business trip in Reno, Mario Moretti Polegato took a walk in the Nevada desert. His feet began to hurt in his rubber-soled shoes, so he took out a pocket knife and cut holes in the soles for ventilation....

Who Pays a Failed LLC's Debts?

Wed, 1 Jul 2009 08:21:22 PST

Question: My spouse and I owned an LLC that closed last October. We filed dissolution with the state. We had a five-year lease agreement that has two years left on it. Although the business is now closed, the landlord has sent us collections notices for partial payments through October '08 as well as the lease payment and utility bills for 2009....

GM Sales Hit All-time High....in China

Wed, 1 Jul 2009 08:21:22 PST
General Motors Corp. (OTC:GMGMQ) said here Wednesday that its auto sales in China in the first half of 2009 rose 38 per cent from the same period last year to a record high of 841,442 units, spurred by the government stimulus package....

Group of Republicans Call for Governor's Resignation

Wed, 1 Jul 2009 07:26:32 PST
Six of 27 members of South Carolina's conservative Senate Republican Caucus Tuesday night issued a letter calling on Gov. Mark Sanford to resign. Two additional senators, considered among Sanford's staunchest allies, also said they want him to resign though they did not sign the letter....

Franken Mindful of 312-vote Margin

Wed, 1 Jul 2009 07:26:32 PST
For Al Franken, it has been a long road from radio provocateur who nearly incited fisticuffs at the 2004 Republican convention to standing on the brink of assuming his place in Washington as a U.S. senator....

Don't Cash Out Your 401(k), experts say

Wed, 1 Jul 2009 07:26:32 PST
A growing number of recession-battered employers have stopped contributing to their employees' 401(k) retirement plans, while Wall Street has done its best to wipe out any gains employees saw before the economy went south....

Freddie Mac to Appoint New CEO

Wed, 1 Jul 2009 07:26:32 PST
Freddie Mac (NYSE:FRE) said Wednesday that Charles E. Haldeman Jr., former chairman of Putnam Investments, is the likely candidate for its new CEO. The 60 year old Haldeman will be subject to approval by the Federal Housing Finance Agency or FHFA, which regulates Freddie Mac and Fannie Mae (NYSE:FNM). ...

Mortgage Applications Fall Last Week, Refinances Tumble

Wed, 1 Jul 2009 07:26:32 PST
The Mortgage Bankers Association reported Wednesday that its index for total U.S. mortgage applications fell 18.9% for the week ended June 26. Refinance applications fell 30% during the period. Meanwhile, the cost to borrow ticked lower by 0.10% to a national average of 5.34%, excluding fees, for a 30-year fixed rate mortgage....

ADP Reports More-Than-Expected Job Losses in June

Wed, 1 Jul 2009 07:26:32 PST
ADP Employer Services reported today that private employers cut 473,000 jobs in June versus a revised loss of 485,000 jobs in May. The reading was worse than the 393,000 job losses economists had expected in June. The SPDR Trust (AMEX:SPY) which tracks the entire S&P 500 index is trading higher pre-market, up 0.60% to $92.50. ...

GM CEO Says Wind-Down Costs Higher than First Calculated

Wed, 1 Jul 2009 07:26:32 PST
General Motors (OTC:GMGMQ) CEO Fritz Henderson said Wednesday that the cost of winding-down the old GM may be more than the original estimate. GM and the treasury had set aside $950 million in cash after the sale to cover administrative claims but Henderson said today at a hearing in U.S. Bankruptcy Court in New York that environmental liabilities may drive the cost as high as $1.2 billion. ...

EEUU: Actividad Industrial Mejora Más de lo Previsto en Junio

Wed, 1 Jul 2009 07:26:32 PST
La actividad industrial en Estados Unidos mejoró más de lo previsto en Junio, de acuerdo al índice de directores de ventas publicado este miércoles por la asociación profesional ISM. El índice ganó 2 puntos para quedar en 44,8 unidades. ...

Is L.A. Big Enough for Kobe Bryant and Mayor Villaraigosa?

Tue, 30 Jun 2009 16:29:31 PST
Is Los Angeles not big enough for Los Angeles Lakers star Kobe Bryant and Mayor Antonio Villaraigosa? The two stars of L.A....

Bankruptcy Court Pressured by Gov't to Back GM takeover

Tue, 30 Jun 2009 16:00:07 PST
NEW YORK (dpa) -- The U.S. government wants a bankruptcy court to approve the reorganization of struggling car giant General Motors by the end of next week and has threatened to otherwise pull out of the rescue deal, GM's chief executive Fritz Henderson said Tuesday....

U.S. Markets Slip Tuesday

Tue, 30 Jun 2009 16:00:06 PST
NEW YORK (UPI) -- U.S. markets dropped on the last day of the second quarter after a closely-watched index said home prices continued to decline in April. The S&P/Case-Shiller home-price index released Tuesday said prices fell in 14 of 20 U.S....

EU Streamlines Cell Phone Chargers

Tue, 30 Jun 2009 15:39:39 PST
The European Union announced on June 29 that 10 cell phone companies have agreed to produce phones that will all be compatible with a single charger in order to reduce electronic waste....

Tech Stocks Lead the Way in First Half

Tue, 30 Jun 2009 14:47:50 PST
Buoyed by better-than-expected earnings and some cautious signs of optimism, tech stocks have far outpaced the broader stock market in the first half of the year, hinting that the high-tech sector will help lead the nation out of the Great Recession....

As U.S. Troops Withdraw From Cities, Obama Calls on Iraqis to Define Future

Tue, 30 Jun 2009 14:47:50 PST
WASHINGTON (dpa) -- President Barack Obama said Tuesday the point had arrived for Iraqis to determine the future of their country, as U.S. forces met a deadline to withdraw from Iraqi cities and towns....

Vibe, R&B/Hip-Hop Magazine, Shutters

Tue, 30 Jun 2009 14:31:14 PST
The urban-music magazine Vibe, founded by Quincy Jones in the early 1990s, is shutting down, dailyfinance.com reported Tuesday....

Al Franken Declared U.S. Senator

Tue, 30 Jun 2009 12:49:58 PST
Turns out Al Franken was right all along -- he's good enough, smart enough, and people -- specifically the people of Minnesota -- like him. If only just enough....

Neverland Will Host Michael Jackson Public Viewing

Tue, 30 Jun 2009 11:41:50 PST
LOS ANGELES (dpa) - The body of Michael Jackson is being returned to his home at Neverland Ranch on Thursday and there will a public viewing for fans on Friday, CNN reported....

King of Pop Michael Jackson Lived Like Royalty, but Had Tremendous Debt

Tue, 30 Jun 2009 11:41:50 PST
LOS ANGELES (Xinhua) -- When Michael Jackson moved into a mansion in Beverly Hills in 2004 owned by Chinese painter Ding Shaoguang, he was escorted by dozens of people. Some Chinese workers working at the mansion recalled that Jackson was really treated like a king....

Neverland Ranch to Be Tribute Site

Tue, 30 Jun 2009 10:51:29 PST
Michael Jackson's Neverland Ranch looks set to be turned into a Graceland, it has been revealed. Jacko bought the estate in 1988 and turned it into an amusement park and zoo. But in recent years it has become a shadow of its former glory, falling into disrepair as he moved out and owed more than $25million on the mortgage....

Cap and Trade Bill Creates Controversy Over Jobs

Tue, 30 Jun 2009 10:24:30 PST
WASHINGTON (Xinhua) -- After the U.S. House passed a bill on Friday for cleaner emissions, heated debate continues over the historic but controversial new legislation. A major issue is jobs -- supporters say it will create them, but opponents say it will wreak havoc on the economy and boost unemployment....

Case/Shiller: Home Prices Continue to Decline

Tue, 30 Jun 2009 10:24:30 PST
WASHINGTON (UPI) -- The home prices index for 20 U.S. metropolitan regions dropped in April for the 33rd consecutive month, a closely watched housing index said. The 20-city index fell 0.5 percent in April compared to March, a smaller decline than most recent months....

New Haven Fire Dept. Had History of Discrimination Against Blacks

Tue, 30 Jun 2009 09:44:43 PST
When it comes to promoting minorities, the New Haven Fire Department at the center of this week's Supreme Court ruling has a blemished history....

NFL Players and Kimbo Slice Will Fight on UFC's The Ultimate Fighter

Tue, 30 Jun 2009 09:02:57 PST
A handful of Kimbo Slice's castmates for the upcoming season of The Ultimate Fighter have apparently been leaked. A popular mixed martial arts Web site is reporting today that Slice will be joined by 4 former NFL players....

PropertyRoom.com Auctions Seattle's Police-Seized Items

Tue, 30 Jun 2009 08:14:19 PST
Inside the Seattle Police Department's property room, rows of bicycles, Christmas decorations, wheelchairs and other unclaimed or seized items gather dust until they're put up for auction. But bargain hunters no longer have to wait for police, or the King County Sheriff's Office, to schedule a public auction to score a deal. They now merely need to log onto a computer....

Firefox 3.5 Available Today, Promising Blazing Speed and More

Tue, 30 Jun 2009 08:09:26 PST
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Justices to Reconsider 'Hillary' Movie Campaign Finance Case

Tue, 30 Jun 2009 08:00:53 PST
WASHINGTON -- The Supreme Court, which has chipped away at limits on political spending in recent years, opened the door Monday to a broad challenge of the nation's campaign-finance laws. The court failed to reach a decision on whether a critical documentary about Hillary Rodham Clinton violated those laws....

Small Business Hub Going Out of Business

Tue, 30 Jun 2009 08:00:53 PST
IRWINDALE -- Erika Maldonado won't soon forget what she learned from the San Gabriel Valley Small Business Development Center. But now that the center is closing as of today, Maldonado, who owns Oasis Tropical Fruits & Juices in Whittier, considers herself one of the lucky ones....

Comcast Offers Wireless Internet Service

Tue, 30 Jun 2009 07:32:07 PST
(SmarTrend(R) News Watch) -- Comcast (NASDAQ:CMCSA) is rolling out wireless internet service today beginning in Portland, Oregon, with plans to add three other cities by the end of 2009 including Philadelphia and Chicago....

Verizon Launches Cheap Global Smartphone

Tue, 30 Jun 2009 07:32:07 PST
(SmarTrend(R) News Watch) -- In a move to compete with Sprint (NYSE:S) and T-Mobile (NYSE:DT), Verizon (NYSE:VZ) introduced a smartphone that is cheaper and usable on more networks than those available at its competitors....

Standard & Poor's/Case Shiller Index Falls 18% from April

Tue, 30 Jun 2009 07:32:06 PST
Standard & Poor's/Case Shiller released its home price index Tuesday showing an 18.1% drop from April 2008. The 20-city home price index is now off almost 33% since its peak in the second quarter of 2006. ...

Apple Reports Shortages of New iPhone

Tue, 30 Jun 2009 07:32:06 PST
Apple (NASDAQ:AAPL) uses a widget on its website to show which of its retail stores has iPhone availability. The widget first appeared last summer after the iPhone 3G went on sale and supplies were limited....

SunPower and Wells Fargo Team Up

Tue, 30 Jun 2009 07:32:06 PST
Solar panel maker SunPower (NASDAQ:SPWRA) and Wells Fargo (NYSE:WFC) said they have teamed up to fund up to $100 million in solar projects for businesses and public buildings. SunPower will enter into power purchase agreements with qualified customers and Wells Fargo will finance the solar power systems that SunPower will design, build, operate, and maintain....

Exxon To Pay $470 Million To End Valdez Appeal

Tue, 30 Jun 2009 07:32:06 PST
Exxon Mobil Corp (NYSE:XOM) announced today that it would pay $470 million in interest to the victims of the 1989 Valdez oil spill. This payment follows the $507.5 million judgment won by the same group of people....

Do Career Counselors Help?

Tue, 30 Jun 2009 07:14:19 PST
SAN JOSE, Calif. -- Stop. You were not "laid off." Your "position" was "impacted" in a "restructuring brought on by business decisions." And no. You are not "looking for a job" right now. You are "a solution" waiting to connect with some employer who has a "pain, need or opportunity" that you can "satisfy." ...

AAA: July 4 Holiday Travel Will be Light

Tue, 30 Jun 2009 07:14:19 PST
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U.S. Consumer Confidence Drops in June

Tue, 30 Jun 2009 07:14:19 PST
A key measure of U.S. consumer confidence fell in June after two straight monthly gains, signalling the country's deep economic crisis is still prompting some uncertainty, according to a private research group Tuesday....

Obama Unveils New Standards for Lighting

Tue, 30 Jun 2009 07:14:19 PST
New energy efficiency rules aimed at saving billions of dollars were announced Monday jointly by U.S. President Barack Obama and Energy Secretary Steven Chu. "One of the fastest, easiest, and cheapest ways to make our economy stronger and cleaner is to make our economy more energy efficient," Obama said in a statement released by the White House....

Investment Banks Bullish on Chinese GDP Growth

Tue, 30 Jun 2009 07:14:19 PST
BEIJING (SinoCast Daily Business Beat) -- Merrill Lynch & Co., Inc. (NYSE: MER) has upgraded its prediction on China's 2009 GDP growth from 7.2% to 7.6%, according to its announcement on June 29. On the same day, JPMorgan & Chase & Co....

Coping with 'Made in China' Scandals

Tue, 30 Jun 2009 07:14:19 PST
When access to China became a reality, international enterprises with famous brands lined up to take advantage of the resources and market China had to offer. Doing business in and with China allowed many of these companies to expand their businesses and increase their profits to unprecedented levels....

Sotomayor Supporter: Supreme Court's Firefighter Ruling Could Put Chill on Workplace Diversity

Mon, 29 Jun 2009 16:28:29 PST
As pundits debate the political ramifications of this week's ruling by the U.S....

Chrysler Restarts Production Plants After Bankruptcy

Mon, 29 Jun 2009 15:43:30 PST
WASHINGTON (dpa) - U.S. carmaker Chrysler restarted production at seven factories Monday after emerging from bankruptcy earlier this month under the control of Italian manufacturer Fiat. The merger with Fiat spared Chrysler from a complete collapse, allowing it to shed loss-making brands and exit the bankruptcy process about three weeks ago....

Stocks Post Gains on Energy Sector and Recovery Hopes

Mon, 29 Jun 2009 15:43:30 PST
NEW YORK (dpa) - U.S. stocks posted gains on Monday, led by energy companies and some optimism ahead of a big week of economic figures in the United States. The price of crude oil jumped 3.4 percent to $71.49 per barrel, pushing up shares of petrol producers Exxon Mobil and Chevron....

Apple Welcomes Back Steve Jobs

Mon, 29 Jun 2009 14:20:02 PST
San Francisco (dpa) - Apple CEO Steve Jobs has returned to the company he founded following a six-month medical leave during which he had a liver transplant, the company said Monday....

150 Year-Sentence for Madoff's Record Financial Fraud

Mon, 29 Jun 2009 14:20:02 PST
NEW YORK (dpa) - Bernard Madoff was sentenced to 150 years in prison Monday, the maximum sentence possible, for a $65 billion financial fraud that affected hundreds investors around the world. New York Judge Denny Chin said the 71-year-old Madoff's fraud was "unprecedented in this century." ...

GM to Accept Some Liability Claims

Mon, 29 Jun 2009 14:20:02 PST
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Sotomayor Supporters Braced for Republican Attacks Over Firefighters Case

Mon, 29 Jun 2009 12:32:16 PST
Even before the U.S. Supreme Court issued its ruling today overturning the decision on Ricci v....

Survivor Syndrome: While Fortunate, Remaining Employees Have Their Own Post-Layoff Challenges

Mon, 29 Jun 2009 12:12:43 PST
A loss of any kind is always difficult. But when colleagues walk out the door for the last time as a result of downsizing, the employees who remain, the "survivors," often suffer a lack of motivation, engagement and productivity, a syndrome that can also severely affect a company's operations....

Building Your Own 'Psychological Stimulus Package'

Mon, 29 Jun 2009 11:55:44 PST
For the past five years, Agustin, a smart young engineer, was confident that he would go to his job every morning; it would just be there....

After Michael Jackson Slam, Perez Hilton's Followers Beat It

Mon, 29 Jun 2009 10:12:15 PST
It's been a bad couple of weeks for celebrity blogger Perez Hilton. First, he gets punched in the face after a verbal spat with Black Eyed Peas frontman Will.i.am....

Reports: Bernard Madoff Sentenced to 150 Years in Prison

Mon, 29 Jun 2009 08:56:26 PST
Bernard "Bernie" Madoff, who for years perpetrated a multi-billion-dollar Ponzi scheme, was sentenced to 150 years in prison according to published reports....

Small Businesses Wary of Health Care Legislation

Mon, 29 Jun 2009 08:08:19 PST
WASHINGTON -- Like many small-business owners, Pedro Alfonso struggles to maintain the health insurance he provides to his 85 employees -- an effort he says is worth it partly because "it's the right thing to do." But rising costs and a weak economy have left workers at Alfonso's Washington telecommunications company, Dynamic Concepts, with higher out-of-pocket health costs....

TV Pitchman Billy Mays Dies at 50

Mon, 29 Jun 2009 08:08:19 PST
To the world, Billy Mays was the bearded pitchman with the booming voice who convinced late-night infomercial watchers that OxiClean would get their stains out and Mighty Putty would mend any break....

Start Your Business Now ... Seriously

Mon, 29 Jun 2009 08:08:19 PST
With unemployment up, consumer spending down and the housing market still uncertain, now probably doesn't seem like the best time to branch out and start your own business. A recent study from the Ewing Marion Kauffman Foundation found, however, that more than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market....

Sotomayor Court Reversed in Connecticut Firefighters Case

Mon, 29 Jun 2009 08:08:19 PST
WASHINGTON, Jun 29, 2009 (UPI via COMTEX) -- The Supreme Court reversed a lower-court ruling Monday in a key civil rights case in which high court nominee Sonia Sotomayor sat on the lower court....

'Ugly Betty's' Ortiz Gives Birth to Girl

Mon, 29 Jun 2009 08:08:19 PST
NEW YORK (UPI) -- Ana Ortiz, a cast member of the U.S. television show "Ugly Betty," gave birth to her first child during the weekend, People Magazine reported Monday....

More Boeing 787 Woes as Qantas Drops Order

Mon, 29 Jun 2009 08:08:19 PST
Three years ago, Airbus looked like a fumbling laggard. While Boeing racked up order after order for the 787 Dreamliner, its European rival had to go back to the drawing board twice, before settling, in mid-2006, on a competing design that airlines wanted to buy....

Obama Warns Against Amending Energy Bill with Tariffs

Mon, 29 Jun 2009 07:45:23 PST
WASHINGTON -- President Barack Obama Sunday afternoon called a House-passed energy bill "an extraordinary first step" toward halting global warming and reducing the use of fossil fuels, but he expressed reservations about a controversial provision that would slap tariffs on imports from countries that do not similarly crack down on greenhouse gas emissions....

Some GOP Lawmakers Await Sanford Resignation

Mon, 29 Jun 2009 07:14:28 PST
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Google's Schmidt Says Worst of Crisis Has Passed

Mon, 29 Jun 2009 07:14:28 PST
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Sentencing Day for Bernard Madoff

Mon, 29 Jun 2009 05:12:32 PST
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FL Sen. Nelson Rallies Against Student's Deportation

Mon, 29 Jun 2009 05:12:32 PST
Sen. Bill Nelson has called for authorities to halt the deportation of a Miami man whose immigration story has inspired protests and riled up immigration activists throughout South Florida. In a letter last week addressed to a top federal immigration official, Nelson praised Walter Lara, a 23-year-old who is to be deported July 6....

The Business of Fireworks Lighting Up Despite Economy

Mon, 29 Jun 2009 05:12:32 PST
For those who help put a bang in America's Fourth of July celebrations, business is still booming....

Janet Jackson Celebrates Brother Michael at BET Awards

Mon, 29 Jun 2009 05:12:32 PST
A celebration of Michael Jackson's career became the central focus of Sunday night's BET Awards, as superstars from host Jamie Foxx to NBA MVP LeBron James paid tribute to the late King of Pop. As the first major celebrity event since Jackson's death on Thursday, the BET Awards took on a whole new relevance and was completely revamped over the weekend....

Pico Rivera's Endpak Thrives, Despite Economy

Mon, 29 Jun 2009 05:12:32 PST
PICO RIVERA -- There's something to be said for a manufacturing company that's able to survive in today's floundering economy. But when that company can remain in operation amid California's high costs and strictly regulated business climate, it's even more of an achievement....

Firefighters Exam at Center of Supreme Court Case

Mon, 29 Jun 2009 05:12:32 PST
The U.S. Supreme Court is about to issue its decision on the case of 20 New Haven firefighters who claim the city discriminated against them when it threw out results of its 2003 tests for captain and firefighter positions....

Pawlenty 'Prepared' to Certify Franken

Mon, 29 Jun 2009 05:12:32 PST
Minnesota Gov. Tim Pawlenty said Sunday he is "prepared to sign" a certificate of election sending Al Franken to the U.S. Senate if a court directs him to. In an appearance Sunday on CNN's "State of the Union," the Republican governor said if the state Supreme Court rules in Franken's favor in a lawsuit brought by former Sen....

Novartis in Talks to Buy Parts of Elan According to Paper

Mon, 29 Jun 2009 05:12:32 PST
According to U.K. newspaper The Sunday Times, Pharmaceutical giant Novartis (NYSE:NVS) is reportedly in discussions to buy parts of Dublin-based Elan (NYSE:ELN). The potential deal revolves around Elan's treatments for Alzheimer's disease and multiple sclerosis drug Tysabri. The Sunday Times, citing a source familiar with the matter, noted that an agreement is "some way off." ...

Morgan Stanley Gets Green Light to Up Stake in Chinatrust Financial

Mon, 29 Jun 2009 05:12:32 PST
Investment banking firm Morgan Stanley (NYSE:MS) received Federal Reserve approval to increase its stake in Chinatrust Financial Holding Co. to 9.9%. With the upped stake, Morgan now becomes the largest shareholder in the Taipei-based company. The company had to agree to certain "passivity commitments" relating to its increased ownership position. ...

New York Times Looks to Sell Another Paper With Boston Globe

Mon, 29 Jun 2009 05:12:32 PST
According to its banker Goldman Sachs, the New York Times (NYSE:NYT) may be looking to sell the Worcester Telegram & Gazette along with the Boston Globe. The sale may come with $59 million in pension liabilities. The New York Times, which also reported the story, said that the company "intends to make a deal quite quickly." ...

OAS Condemns Honduran Coup

Mon, 29 Jun 2009 05:12:31 PST
The Organization of American States Sunday condemned the military coup which ousted Honduran President Manuel Zelaya, and said it would not recognize any government arising from the coup. The OAS Permanent Council passed a resolution after a special session....

Exxon Starts Drilling Off Libyan Coast

Mon, 29 Jun 2009 05:12:31 PST
The Wall Street Journal is reporting that Exxon Mobil (NYSE:XOM) is beginning to drill the first of three deepwater exploration wells off the coast of Libya. Libya has been off limits for many foreign oil firms for decades but experts say that the coastline has some of the most promising oil fields in the region. ...

Towers Perrin Watson Wyatt Agree to $3.5 Billion Merger

Mon, 29 Jun 2009 05:12:31 PST
Watson Wyatt Worldwide (NYSE:WW) chief executive John Haley will retain the head position after the company agreed to a merger with Towers, Perrin, Forster & Crosby Inc valued at around $3.5 billion, according to a Bloomberg report....

Prosecutors And Victims Want Madoff to Get the Maximum

Mon, 29 Jun 2009 05:12:31 PST
When Bernard L. Madoff is sentenced Monday, U.S. government prosecutors have recommended that he be given a term of 150 years in prison for conducting his worldwide Ponzi scheme. That term is the maximum established for his crime under nonbinding U.S....

The Worries of Wealth

Mon, 29 Jun 2009 05:12:31 PST
The rich may have more options in a recession than most of us, but they have their money worries, too. Joan Major, director of wealth management at Sand Aire Ltd., a multi-family office in London, recently discussed the financial challenges that keep high net worth investors and their advisers awake at night....