Since she joined in July 2012, CEO Marissa Mayer has acquired dozens of startups.
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He's earning millions in mall appearances, but that doesn't begin to cover all his expenses.
The big guy gets to kick around all year, but come November he gets practically chained to the mall food court. And then there's that one night where he gets no sleep, of course.
So are six intense weeks of work enough to cover the carefree rest of the year? Bankrate.com did an analysis and found that no, even the millions of dollars that Santa pulls in every year don't make a dent in all his expenses.
Here's how Bankrate calculated Santa's net worth:
Company repays TARP funds and names a new leader, but it still can't escape the glare of regulators and taxpayers.
By Lauren Tara LaCapra, TheStreet
Bank of America's board promoted Brian Moynihan to fill the top role starting Jan. 1. The company capped months of uncertainty by accomplishing two mammoth goals before year-end: picking a new leader and getting out from under the Troubled Asset Relief Program.
Still, Bank of America hasn’t escaped scrutiny from regulators and lawmakers who want big banks to split up, or from consumers and taxpayers who are fed up with the banking industry.
Sales slip at the drugstore chain in its 10th-straight quarterly loss. Rite Aid cuts its full-year forecast.
By Jeanine Poggi, TheStreet
Rite Aid (RAD) narrowed its fiscal third-quarter loss and beat Wall Street's estimates, as costs tied to store closures declined. The company lowered its full-year forecast.
During the quarter, the drugstore recorded a loss of $83.9 million, or 10 cents a share, compared with a loss of $243.1 million, or 30 cents, in the year-ago period. Analysts expected a loss of 18 cents a share.
This was Rite Aid's 10th consecutive quarterly loss. Revenue decreased 1.8% to $6.35 billion from $6.47 billion, while same-store sales slipped 0.5%.
Despite a health care system that wails about underfunding, some hospital execs get million-dollar bonuses.
By Jim Woods, InvestorPlace.com
It's bonus time again, both on Wall Street and Main Street, and this year the public is predictably outraged by what it collectively regards as the unfair, outrageous and downright criminal bonuses set to be paid to CEOs.
In the highest-profile cases (financial institutions that received taxpayer bailout money), executive bonuses have come to represent the ultimate slap in the public's face.
But it's not just Wall Street bonuses making news these days. A New York Post article aptly titled, "Sickening Bonuses," told the story of hospital executives who collected huge bonuses even as New York City's health care system wails about being woefully underfunded.
The article described executives receiving perks such as
Currency movements suggest American stocks are poised to reestablish their dominance over global competitors.
Up until this month, the investment strategy of choice was simple: Sell the U.S. dollar and buy foreign stocks and bonds in rising currencies. Between March 10 and December 1, Brazil's Bovespa Stock Index gained 86% while Thailand's SET Index gained 72.6%. The Dow Industrials (INDU) climbed 60% over this period.
Not only did you bag the return on your foreign investments, but you pocketed the difference in currency movements to boot. During this period the Brazilian real gained 24%, the Thai baht climbed 8%, while the dollar lost nearly 17%. Known as the carry trade, these trades were done on a massive scale by Wall Street insiders using borrowed money. Like I said in my recent column, this helped put pressure on the dollar.
But times are changing. The dollar is strengthening and is up 3.4% for the month. Foreign currencies are weakening: The Japanese yen is down 3.3% while the euro is off 3.6%. This sets the stage for rebound in the relative performance of American stocks compared to global holdings. After hearing so much about the strength of Asia and Latin America, about the rising fortunes of China and Brazil, the real surprise of 2010 could be the restoration of America's position as the world's premier investment destination.
It's bad for the company and bad for shareholders, one financial writer says.
"This is another example of a bank doing something stupid in order to say that it is no longer receiving TARP money, and probably more importantly so it can escape executive compensation restrictions," Kwak writes.
To get out from under TARP, Citi will sell $17 billion in common stock. That move certainly has a higher cost of equity than paying an 8% interest rate on the $20 billion in preferred shares that Citi is buying back from the Treasury, Kwak writes.
Accor will be split, if the board has its way. The move highlights some questionable corporate governance at the company.
The board's vote would split the company into two businesses: Accor Hospitality would focus on the company's hotels and Accor Services would focus on voucher and prepaid services.
Activist shareholders Colony Capital and Eurazeo, which together hold 30% of the company's shares, argued that splitting up the company would unlock value for shareholders.
The French government, which holds 7.5% of shares, argued that it was risky at a time when
Time magazine praises the Fed chairman for fast, bold moves to rein in the unfolding economic crisis.
He didn't win the award for foreseeing the economic crisis -- in fact, the magazine says, he was totally clueless on that front. He didn't win for his charisma or leadership skills. Time calls him a nerd.
What the magazine likes is how quickly Bernanke went into action when he finally figured out that things were going downhill. He made some bold, dramatic decisions that drew intense criticism, but in the end he prevented the recession from becoming much worse.
Here's why Time loves Bailout Ben:
Investors were repeatedly lied to, deceived and, as we can see from the unwarranted rally, duped. Here are the biggest lies of 2009.
By Michael Shulman, InvestorPlace.com
The market staged an impressive rally this year, but it was predicated on some very big lies, as opposed to solid fundamentals or the beginnings of a real recovery in the U.S. economy.
The biggest lie investors were fed? That, statistically, the recession "officially" ended in Q3 when we saw 3.5% GDP growth. Sure the Bureau of Economic Analysis revised their number substantially in November, saying we only saw 2.8% growth, but this was growth nonetheless -- according to the statistics.
In the face of Depression-level unemployment, a worsening housing market and weak consumer spending, statistics don't mean much. What, you heard that unemployment bottomed at 10%, the housing market was recovering and consumer spending was picking up again? More lies. In fact, here are five of the biggest lies from 2009.
If the president really understood history, he wouldn't be trying to repeat it.
I'm having a very hard time trying to figure out who is prioritizing the administration's missions and goals.
President Barack Obama tells Wall Street bankers that they have a duty to fund mortgages and make small-business loans to simulate the economy. He holds press conferences to urge everyone to fund public health care and start spending.
Often, his press conferences are either about spending money the government doesn't have or taking away the incentive to produce goods and services by taxing to death the people he is counting on to kick-start the economy.
Someone needs to tell him that most of the behavior he is demanding is the very behavior that got us into this mess. What happened is evident. It's not brain surgery.
I can tell the president how to fix the economy.
An Irish bookmaker has been taking bets on which of the golfer's sponsors will stop endorsing him over his infidelities. With video updates.
By Andrea Tse, TheStreet
While some people are happy just reading about the latest news on Tiger Woods' highly publicized personal woes, others are looking to turn his misfortunes into cold, hard cash. Irish bookmaker Paddy Power has been taking bets on which of Woods’ sponsors will drop him next.
The 9-4 favorite to win was Accenture (ACN), which removed Woods from its homepage on Friday and ended its six-year sponsorship agreement him. A $100 wager over an Accenture breakup with Woods translates into a $325 payout from Paddy Power.
FedEx predicted that Monday would be its busiest day ever. While that's great news for FDX, it's even better for Amazon.
Monday was expected to be the busiest day of the year for the U.S. Postal Service and for shipping companies like FedEx (FDX). In fact, FedEx predicted that Monday would be its busiest day in history, with trucks handling more than 13 million packages. By comparison, FedEx shipped 12 million packages on its busiest day in 2008.
My read on the FedEx proclamation is that it certainly bodes well for the company in its upcoming fiscal third quarter. It also bodes well for companies like Amazon.com (AMZN), which use FedEx and rival shipper United Parcel Service (UPS) to send out the products consumers are shopping for this holiday season.
The bank took a beating in the economic crash, but it's learning from the mess and rethinking its strategy.
Global banking giant HSBC
(HBC) got its clock cleaned in the U.S. mortgage crisis, having spent $15 billion in 2003 to buy Household International.
The timing of that deal was just right so that write downs were about the same as what HSBC had paid to acquire the company: HSBC paid $15 billion to buy $15 billion in losses.
But there are advantages to things going so terribly wrong. If you survive -- and the bank did rebuild its capital by raising $17.7 billion through a stock offering in April -- you have good reason to examine your strategy from top to bottom.
In the case of HSBC, that resulted in the bank's decision to
The IPO market spiked at the end of the year, but not all of the deals were successful.
By Jeanine Poggi, TheStreet
Initial public offerings surged in the second half of 2009, but not all of the deals were lucrative.
Some 59 companies have come to market in 2009, with only 14 during the first six months. All but two of the 10 worst-performing IPOs of the year debuted in the second half. On the flip side, six of the 10 best IPOs began trading during the first half. Here are some of the weakest new issues:
NIVS IntelliMedia Technology (NIV): While China had some of the most successful IPOs of 2009, it also had the worst.
CIT Group has exited bankruptcy and plans to ramp up lending to small business, but it's taking very little risk in doing so.
By Dan Freed, TheStreet
"We will continue to support our small business customers as they look to grow their businesses, which will create thousands of jobs and help the US economy recover," said Chris Reilly, president of CIT small business lending, in a statement. CIT said it had not forgotten its earlier pledge to write $500 million in new Small Business Administration loans, while waiving a $1,000 "packaging fee."
It warms the heart that CIT would do this for us. Though some might say it's the least it could do, after its bankruptcy cost the Treasury $2.33 billion under the Troubled Asset Relief Program, or TARP.
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[BRIEFING.COM] The major averages spent the entire session in a steady downtrend, but despite persistent selling pressure, today's losses were limited in scope. The Dow, S&P 500, and Nasdaq shed between 0.2% and 0.3% while the Russell 2000 lagged, falling 0.9%.
The underperformance of the Russell 2000 was likely owed in part to tax-loss selling, which tends to pick up this time of year. Small-caps often feel that pinch in a stronger fashion than large-cap issues since individual ... More
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