Actor Corey Haim, 38, died this morning of an apparent overdose of prescription medications. The Canadian actor reportedly collapsed in a bathroom and was... »
Business
Toyota Suspends Sales: Recall List
Toyota Motor Corp is suspending sales of eight models that were recalled last week for potentially faulty accelerator pedals. The company also plans to halt production at plants in Indiana, Texas and Kentucky in the United States and in Ontario, Canada starting the first week of February. Last week Toyota announced the recall of 2.3 million... »
Black Friday Sales Up Only Slightly
Hopes for a solid retail sales performance were diminished when data released on Saturday showed a small 0.5 percent increase for the traditional kickoff to the holiday shopping season. The results issued by ShopperTrak, which measures customer traffic in stores, indicates that shoppers appeared to hold on to tight budgets and were only vying... »
Virginia – Best State for Business
The effects of the recession have rippled through all of the 50 U.S. states and impacted the vast majority of its citizens. Although some states felt the pain more than others, some are showing early signs of emerging with renewed strength. Optimistically, perhaps like the 1988 massive forest fires in Yellowstone National Park, new growth will... »
China Takes Lead In Auto Sales
China’s car market has overtaken America’s in total sales volume for the first time, according to the Economist. Although shy of the U.S. auto market prior to the economic downturn, the latest results are a combination of a steep decline in U.S. sales beginning in 2007 coupled with the steady increase in Chinese auto sales... »
Raj Rajaratnam Arrested for Insider Trading
Galleon Group founder Raj Rajaratnam has been arrested and charged in a $20 million insider-trading case. Rajaratnam has been charged with four counts of conspiracy and eight counts of securities fraud. He is accused of making improper trades on inside information and passing along tips to others. Born in Sri Lanka, Rajaratnam attended the prestigious St.... »
Bad September for GM & Chrysler
With the artificial loading of the “Cash For Clunkers” program in August, sales of Chrysler, Ford, and GM shot up dramatically, considering the state of the economy. Alas, the chickens have come home to roost. Overall, U.S. auto sales dropped by 23 percent in September compared to the previous year. GM dropped by 43 percent and Chrysler... »
Ford Lookin’ Good
Alan Mullaly, CEO of Ford Motor Co said on Wednesday the U.S. market was looking good and vehicle sales were expected to increase. ”In the long term it’s going to grow with the economy,” he said. Reuters covered Mullay’s comments to reporters in New Delhi during the unveiling of the Figo, a small car scheduled to... »
Disney Buys Marvel Entertainment
Walt Disney Co. announced plans this morning to purchase Marvel Entertainment for $4 billion. Under the deal, Disney will acquire ownership of Marvel, including it’s library of more than 5,000 characters, such as Iron Man, Spider-Man, Captain America and the Hulk. The acquisition makes Disney a partner with rivals Paramount Pictures, Sony Pictures Entertainment and 20th... »
JPM Repays Loan
JPMorgan repaid in full $25 billion in loans it received from the government as part of the Troubled Asset Relief Program, or TARP. The AP reported that JPMorgan, the second big financial institution in a week to release upbeat earnings news, reported net income of $2.72 billion, or 28 cents per share, up 36 percent... »
Nikola Tesla Honored by Google
Nikola Tesla, inventor and pioneering electrical engineer, is being honored by Google on July 10, with a special logo to mark the 153rd anniversary of his birth. The search engine is celebrating July 10 with a logo featuring purple sparks of electricity leaping from the letter “g”, which is drawn in the shape of his... »
