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Newspaper wrap-up 7-24-07: Chrysler sale could be completed next week

Posted Jul 24th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Time Warner (TWX), Daimler (DAI), General Motors (GM)

MAJOR PAPERS:

The FDA said no to Pristiq, an experimental Wyeth (NYSE: WYE) drug to treat the symptoms of menopause, reported the Wall Street Journal.
The $3.1B sale of General Motors Corporation's (NYSE: GM) Allison Transmission to Carlyle Group and Onex has stalled in the debt financing market, thanks to difficulties raising debt from investors, reported the Wall Street Journal's "Heard on the Street" column.
LVMH Moet Hennessy Louis Vuitton (OTC: LVMUY) is expected to acquire Les Echos from Pearson (NYSE: PSO) for $331.9M, reported the Wall Street Journal.

OTHER PAPERS:

Time Warner Inc's (NYSE: TWX) AOL is entering the behavioral-targeting ad market by purchasing Tacoda, which uses "behavioral targeting" techniques to track Web surfers' habits, reported the New York Post.
Cerberus Capital Management's acquisition of DaimlerChrysler AG's (NYSE: DCX) Chrysler unit could be completed on Monday or Tuesday of next week, reported the Detroit Free Press.

Debit cards for pre-teens?

Posted Jul 23rd 2007 12:09AM by Kevin Kelly (RSS feed)
Filed under: Consumer Experience, Competitive Strategy, Marketing and Advertising

The NY Post is reporting that marketing companies are working to begin pushing debit cards to kids as young as 7! Although I certainly wouldn't get a 7 year old a debit card, the marketers have a pretty interesting pitch. For example, one argument is that a debit card will help a child learn how to budget his money. This is certainly a valid idea, but I think that parents should be encouraging saving! In my experience, anything I bought from ages 7-10 was something I regretted purchasing within a month of having it. I saved money I made from lemonade stands and other silly businesses -- this allowed me to begin learning about the benefits of investing your money, how to find competitive interest rates, etc.

One "expert" compared debit cards for kids to the learners permit -- kids use this as an entry to finance. But let's remember America has a 0% savings rate, so that's like learning to drive from Paris Hilton.

Kids need to learn to save, not spend.

Newspaper wrap-up 7-09-07: Apollo raises offer for Huntsman

Posted Jul 9th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Sprint Nextel Corp (S), Comcast Cl'A' (CMCSA), News Corp'B' (NWS),

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that Sprint Nextel Corporation (NYSE: S) is disconnecting about 1,000 customers who have been calling customer service "excessively."
According to the Wall Street Journal, Apollo Management has raised its offer for Huntsman Corporation (NYSE: HUN) to $28 a share, valuing Huntsman at $6.5B.
The Financial Times (subscription required) reported that Moody's Corporation (NYSE: MCO), the credit rating agency, will issue a report today criticizing the private equity industry's increasing use of debt to buy companies.
The Financial Times reported that Dow Jones and Company's (NYSE: DJ) board is reportedly making a final attempt to find a rival bidder for the company to compete with News Corporation (NYSE: NWS), contacting billionaire Ron Burkle.

OTHER PAPERS:

Virgin Media Inc's (NASDAQ: VMED) bankers have contacted ComCast Corp (NASDAQ: CMCSA) and DirecTV Group Inc (NYSE: DTV) to help "kick-start' an auction for the company, reported The Mail on Sunday.
The New York Post reported, citing sources, that theme park operator Cedar Fair Entertainment (NYSE: FUN) has contacted private equity firms about the possibility of acquiring the company.

Newspaper wrap-up 6-27-07: iPhone making news just ahead of release

Posted Jun 27th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Apple Inc (AAPL), Citigroup Inc. (C), Southwest Airlines (LUV), News Corp'B' (NWS), , iPhone, Nordstrom, Inc (JWN)

MAJOR PAPERS:

The Wall Street Journal (subscription required) highlighted the struggles of Southwest Airlines (NYSE: LUV), a company that is dealing with the competition catching up to them in a tough competitive environment. CEO Gary Kelly said, "The threat to our future is real."
Citigroup Incorporated (NYSE: C) is expected to pay $700M for Automated Trading Desk, an electronic trading firm, reported the Wall Street Journal.
News Corporation (NYSE: NWS) and Dow Jones and Company Inc (NYSE: DJ) have reached a preliminary understanding for a way to safeguard the editorial independence of the Wall Street Journal and the other Dow Jones publications, which had been the key road block to a deal, reported the Wall Street Journal.
Walter Mossberg, the Wall Street Journal technology guru, spent two weeks testing Apple Inc's (NASDAQ: AAPL) new iPhone, and said it was "a beautiful and breakthrough handheld computer."

OTHER PAPERS:

Also regarding the iPhone, according to Newsweek, Steve Jobs said of the high expectations for the iPhone, "I think we're going to blow away the expectations."
The New York Post has learned that Nordstrom Inc (NYSE: JWN) has apparently reached a deal to sell its Faconnable chain to a Lebanese private equity firm.

Newspaper wrap-up 6-13-07: Apple embeds iTunes in Bebo

Posted Jun 13th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Apple Inc (AAPL), Fortune Brands (FO), Barclays plc ADS (BCS), Jones Apparel Group (JNY)

MAJOR PAPERS:

William Ackman's Pershing Square Capital Management, whose firms holds about 15% of Ceridian Corporation (NYSE: CEN), doesn't like the proposed $5.3B sale of the company to Thomas H. Lee Partners and Fidelity National Financial Inc (NYSE: FNF), and says he's going to find higher bidders, according to the Wall Street Journal.
The Financial Times reported that British bank Barclays PLC (NYSE: BCS) has drawn up plans to sweeten its $86B all-share offer for Dutch bank ABN Amro Holdings (NYSE: ABN), by substituting cash for some of the shares it is currently offering for ABN.
Beginning today, Apple Inc (NASDAQ: AAPL) is embedding its iTunes internet music download service in the British and Irish social networking site Bebo, reported the Financial Times.

OTHER PAPERS:

The New York Post has learned that a private-equity firm owned by the Dubai government is close to buying Barneys New York from the Jones Apparel Group (NYSE: JNY).
The New York Times reported that the Wall Street Journal is set to "shake up its newsroom" by reassigning and replacing several top editors.
Golf equipment maker Callaway Golf Company (NYSE: ELY) is suing Fortune Brands Inc.'s (NYSE: FO) Acushnet Co, for allegedly violating five Callaway patents for golf clubs, reported the Los Angeles Times.

Newspaper wrap-up 6-12-07: GE will not look to acquire DJ

Posted Jun 12th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Microsoft (MSFT), General Electric (GE), Time Warner (TWX), Wal-Mart (WMT), Target Corp. (TGT), Sony Corp ADR (SNE), Goldman Sachs Group (GS), News Corp'B' (NWS), , RadioShack Corp (RSH)

MAJOR PAPERS:

Barron's Online's (subscription required) "Inside Scoop" column reported that Goldman Sachs Group (NYSE: GS) has raised its stake in RadioShack Corporation (NYSE: RSH), and now owns 12.6% of the company.
The Wall Street Journal (subscription required) reported that Time Warner Inc's (NYSE: TWX) Warner Bros. is planning to release movies to video-on-demand services at the same time as the DVD launch to see if they can expand one distribution pipeline without harming another.
The Financial Times (subscription required) reported that General Electric Company (NYSE: GE) is not seeking to acquire Dow Jones and Company Inc (NYSE: DJ), after the collapse of talks between GE's NBC television network and Microsoft Corporation (NASDAQ: MSFT) regarding the possibility of a joint bid for Dow Jones.

OTHER PAPERS:

Fidelity Investments, which was the third-largest shareholder in Dow Jones, has sold almost all its shares in the company, which is the target of a $5B takeover by News Corporation (NYSE: NWS), reported the New York Post.

WEBSITES:

CNet.com reported that Sony Corporation (NYSE: SNE) will begin selling a line of televisions specifically for Wal-Mart Stores Inc (NYSE: WMT), Target Corporation (NYSE: TGT) and other discount retail chains.

Newspaper wrap-up 6-1-07: Bancroft family to meet with News Corp

Posted Jun 1st 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines

MAJOR PAPERS:

The Wall Street Journal reported that the Bancroft family, which controls 64% of Dow Jones & Company Inc's (NYSE: DJ) voting power, said that it would meet with News Corporation (NYSE: NWS) to discuss its $5B bid for the company, but would also consider other bidders and options.
The Wall Street Journal reported that The Coca-Cola Company (NYSE: KO) is attacking their sluggish performance by focusing on their bottler network in 200 countries, a move executives believe is important to the company's long-term health.
Cadbury Schweppes ADS (NYSE: CSG) may soon announce a cost-cutting exercise worth nearly GBP300M that could feature closure of factories and job cuts, the Financial Times reported.
Barron's Online's "Inside Scoop" column reported that Michael E. Marks, the chairman of Flextronics International Ltd (NASDAQ: FLEX), a director at SanDisk Corporation (NASDAQ: SNDK) and a new director of Sun Microsystems Inc (NASDAQ: SUNW), has made a $1M investment in Sun, the largest by an insider since August 2004.

OTHER PAPERS:

Retail giant Wal-Mart Stores Inc (NYSE: WMT), which has been on an "expansion craze" for decades, has decided to make a gradual slowdown in U.S. store expansion, and may embark on an initiative to return to more basic apparel offerings and an emphasis on low prices, the New York Post reported.

Newspaper wrap-up 5-22-07: Home Depot having trouble selling unit

Posted May 22nd 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Home Depot (HD), Sony Corp ADR (SNE), CBS Corp 'B' (CBS)

MAJOR PAPERS:

Barron's Online's (subscription required) "Inside Scoop" section reported that Thomas Everist, an MDU Resources Group (NYSE: MDU) board member since 1995, has sold a total of 742K shares for a total of $22.6M in MDU stock since May 2, according SEC data.
The Wall Street Journal (subscription required) reported that EMI Group (OTC: EMIPY), the third largest music company by sales agreed to sell to Terra Firma Capital Partners for $4.74B, possibly ending its seven year battle with Warner Music Group Corp (NYSE: WMG).

OTHER PAPERS:

According to the New York Post, citing people familiar with the situation, the weakening housing market and other issues are making it difficult for Home Depot Inc (NYSE: HD) to sell its professional supply business.
Discovery Communications is in talks with CBS Corporation (NYSE: CBS) to sell half its Discovery Times channel and form a joint-venture partnership, according to sources close with the situation, reported the Washington Post.

WEBSITES:

According to an NDP Group report, April sales of Nintendo's (OTC: NTDOY) Wii consoles were almost 3.5 times higher than Sony Corporation's (NYSE: SNE) PlayStation 3, reported DigiTimes.com.

Newspaper wrap-up 5-4-07: Microsoft looking at buying Yahoo again

Posted May 4th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), JPMorgan Chase (JPM),

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that Clear Channel Communications Inc (NYSE: CCU) has said "no" to a new offer from Thomas H. Lee Partners and Bain Capital Partners to buy the company, saying shareholders had no interest.
The Financial Times (subscription required) reported that One Equity, a private equity firm affiliated with JPMorgan Chase & Co (NYSE: JPM), has approached EMI Group (OTC: EMIPY) about a takeover which could value the British music company at more than $6B, according to sources.

OTHER PAPERS:

The New York Post has learned that Microsoft Corporation (NASDAQ: MSFT) has asked Yahoo Inc (NASDAQ: YHOO) to re-enter formal negotiations.
The New York Post has learned that Westwood One Inc (NYSE: WON) has hired UBS to help identify potential buyers as the company anticipates putting itself up for sale next month.

WEBSITES:

A ChangeWave survey of 3,489 people revealed that 9% of the respondents are likely to buy the Apple Inc (NASDAQ: AAPL) iPhone when it comes out in June, reported Seeking Alpha.
According to CNBC Champ Thomas Ko on MSN Money, IMAX Corporation (NASDAQ: IMAX) should benefit from what he anticipates will be a record opening for Spider-Man 3.

Newspaper wrap-up 5-3-07: Texas Instruments to expand to the Phillippines

Posted May 3rd 2007 9:45AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, BP p.l.c. ADS (BP), News Corp'B' (NWS), Amgen Inc (AMGN), , Texas Instruments (TXN), Jones Apparel Group (JNY)

MAJOR PAPERS:

According to Barron's Online's (subscription required) "Weekday Trader" column, Amgen Inc. (NASDAQ: AMGN) has gone from a growth play to a value play, and may be a bargain after a recent pullback.
The Wall Street Journal (subscription required) reported that although the Dolan family finally convinced its board to take its $10.6B offer to take Cablevision Systems Corporation (NYSE: CVC) private, hurdles remain, as some investors aren't going along with it.
Texas Instruments Inc. (NYSE: TXN) plans to spend about $1B over the next 10 years to expand its chip assembly and test operations in the Philippines, reported the Wall Street Journal.

OTHER PAPERS:

The New York Post reported that Jones Apparel Group Inc (NYSE: JNY) said yesterday it would close or sell some of its mid-price lines by the end of the year in order to reduce its exposure to department stores.
A New York Post exclusive reported that Ion Media Networks Inc (NYSE: ION) looks close to approving a takeover deal with General Electric Company's (NYSE: GE) NBC and Citadel, despite shareholder opposition and a rival bid from Echostar Communications Corporation (NASDAQ: DISH).
Despite the fact that the board of Dow Jones and Company (NYSE: DJ) twice said it will not take News Corp.'s (NYSE: NWS) $5B offer from Rupert Murdoch, a number of analysts say that it'll either be Murdoch or another competitor who buys the owner of the Wall Street Journal, reported the Los Angeles Times.
According to sources close to the decision, Peter Sutherland will stay with BP plc (NYSE: BP) as chairman into 2009 to "help stabilize" the company following Lord Browne's departure, reported the Telegraph.

Newspaper wrap-up 5-2-07: Cablevision on the verge of going private

Posted May 2nd 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Sprint Nextel Corp (S), , Gap Inc (GPS), , Qwest Communications Intl (Q)

MAJOR PAPERS:

Barron's Online's "Weekday Trader" column wrote that the takeover talk in telecom stocks Alltel Corporation (NYSE: AT), Qwest Communications International Inc (NYSE: Q), and Sprint Nextel Corporation (NYSE: S) may be overblown, as the logical acquirers for the companies appear uninterested, according to people familiar with the sector.
The Wall Street Journal reported that Dolan family, founders of Cablevision Systems Corporation (NYSE: CVC), are on the verge of taking the company private in a deal estimated to be worth about $10.5B.
The Wall Street Journal's "Heard on the Street" column discussed Rupert Murdoch's $5B play for Dow Jones and Company (NYSE: DJ), saying the Bancroft family may eventually find it difficult not to take Murdoch's offer.

OTHER PAPERS:

The U.K. Times has learned that the U.S. Department of Justice is in talks to launch a formal inquiry into "alleged bribery and corruption" at BAE Systems (OTC: BAESY).
According to a New York Post exclusive, Gap Inc (NYSE: GPS) is considering sizeable layoffs, to reduce expenses at the struggling retailer.

Newspaper wrap-up 4-30-07: Microsoft looking at 24/7

Posted May 1st 2007 9:17AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Microsoft (MSFT), Wal-Mart (WMT), Motorola (MOT), Sony Corp ADR (SNE), Charles Schwab Corp (SCHW)

MAJOR PAPERS:

Barron Online's (subscription required) "Inside Scoop" column reported that Charles R. Schwab sold 800K shares of Charles Schwab Corporation (NASDAQ: SCHW) for nearly $16M this past Friday.
The Wall Street Journal (subscription required) reported that the human rights organization Human Rights Watch has released a report alleging that Wal-Mart Stores Inc (NYSE: WMT) spied on unions and violated other federal labor laws.
The Wall Street Journal reported that Carl Icahn took out a full page ad to get the attention of Motorola Inc (NYSE: MOT) shareholders who will vote on board members at Monday's company annual meeting.
The Financial Times (subscription required) reported that Sony Corporation (NYSE: SNE) Pictures Entertainment has formed a new division for the production of international films.

OTHER PAPERS:

According to a New York Post exclusive, Microsoft Corporation (NASDAQ: MSFT) has emerged as a contender to buy Internet ad company 24/7 Real Media Inc (NASDAQ: TFSM), along with ad firm WPP Group (NASDAQ: WPPGY).

Newspaper wrap-up 4-25-07: Jarden to acquire K2

Posted Apr 25th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Apple Inc (AAPL), Boeing Co (BA), US Airways Group (LCC), Barclays plc ADS (BCS)

MAJOR PAPERS:

The Wall Street Journal (subscription required) reported that Fred Anderson, the former Apple (NASDAQ: AAPL) CFO, said through his lawyer that Apple CEO Steve Jobs misled him regarding board actions on stock-option awards.
The Wall Street Journal reported that The Royal Bank of Scotland-led consortium of banks fighting Barclays (NYSE: BCS) in an attempt to acquire ABN Amro (NYSE: ABN) indicated it would pay EUR39 per share, or $98.5B, for the Dutch bank.
The next CEO of Royal Dutch Shell (NYSE: RDS.A) will probably be promoted from within the company, Royal Dutch Shell chairman Jorma Ollila said yesterday, reported the Financial Times (subscription required).

OTHER PAPERS:

The New York Times reported that Jarden Corp. (NYSE: JAH) will acquire K2 Inc. (NYSE: KTO) for about $1.2 billion in cash and stock, or $15.50 per share.
According to a New York Post exclusive, WPP Group (NASDAQ: WPPGY) is among the suitors for 24/7 Real Media, which is on the auction block.
The U.K. Times has reported that US Airways (NYSE: LCC) has pulled out of a $3.7 billion deal with Airbus, for Boeing (NYSE: BA), which US Air will order 20 to 30 787 Dreamliners from, worth between $3.2 billion and $4.9 billion.

Newspaper wrap-up 4-18-07: Blackberry service suffers meltdown

Posted Apr 18th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, General Electric (GE), Research in Motion (RIMM), Goldman Sachs Group (GS), Verizon Communications (VZ), Jones Apparel Group (JNY), Vonage Holdings (VG), SLM Corp (SLM)

MAJOR PAPERS:

Vonage Holdings Corp (NYSE: VG) said bankruptcy is one of the potential risks from its continuing patent litigation with phone giant Verizon Communications Inc (NYSE: VZ), reported the Wall Street Journal.
Blackstone Group is selling Extended Stay Hotels to Lightstone Group for $8B, which beat offers from Fortress Investment Group (NYSE: FIG) and Goldman Sachs Group Inc (NYSE: GS), according to the Wall Street Journal.
The Wall Street Journal reported that other financial firms such as Countrywide Financial Corporation (NYSE: CFC), CIT Group Inc (NYSE: CIT), iStar Financial (NYSE: SFI), and KeyCorp (NYSE: KEY) may be in play after the sale of Sallie Mae (NYSE: SLM).

OTHER PAPERS:

The Telegraph reported that General Electric Company (NYSE: GE) is looking to sell a natural gas power plant in the UK for an estimated GBP450M-GBP500M, with potential buyers including E.ON AG ADS (NYSE: EON) and Scottish Power ADS (NYSE: SPI).
The New York Post has learned that Heather Pech, a senior Jones Apparel Group Inc (NYSE: JNY) executive that headed the Nine West retail chain, has left the company.

WEBSITES:

WNBC.com reported that Research in Motion Limited's (NASDAQ: RIMM) Blackberry service is suffering a massive system failure since last night.

Newspaper wrap-up 4-13-07: Happy Friday the 13th!

Posted Apr 13th 2007 9:15AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Apple Inc (AAPL), Morgan Stanley (MS), Jones Apparel Group (JNY)

MAJOR PAPERS:

Morgan Stanley (NYSE: MS) is about to purchase 13 hotels from All Nippon Airways for about $1.2B, doubling the number of hotels the investment bank owns there, reported the Wall Street Journal.
The Financial Times reported that Apple Inc (NASDAQ: AAPL) announced it would delay shipping its new Leopard operating system until October, due to the summer launch of its iPhone.

OTHER PAPERS:

According to the New York Times, citing people briefed on the discussions, Sallie Mae (NYSE: SLM) is in talks to be acquired by private equity for more than $20B.
The Guardian reported that exiled Russian tycoon Boris Berezovsky is planning the "violent overthrow of [Russian] President Putin".
The New York Post reported that Dubai is looking at buying Jones Apparel Group Inc's (NYSE: JNY) Barneys New York for $950M. Contrary to previous reports, the suitor is not linked to Qatar's royal family, but is Istithmar, a private equity firm owned by the Dubai government.