Business, Local News, Community Calendar3rd Business Networking Meeting at Citizens Resource Cente
Updated: May 9th, 2013 3:22 PM
This past Tuesday, May 7th marked the third business network meeting hosted by Citizens Resource Center.
As at past meetings, an array of business industries were represented. They all had one goal in common-to network with other business owners to grow their bottom line.
Chaim Friedman, Founder and President of ... Read More
BusinessKodak Files for Ch. 11 Bankruptcy Protection
Posted: Jan 19th, 2012 7:39 AM
Photography icon Eastman Kodak has filed for Chapter 11 bankruptcy protection, as it seeks to boost its cash position and stay in business.
The move comes as the ailing company has failed to find a buyer for its trove of 1,100 digital imaging patents. Kodak said in November that it could run out of cash in a year if it ... Read More
BusinessFed Gave Banks Rates As Low As 0.01% On Secretive Loans
Posted: May 26th, 2011 10:30 AM
Credit Suisse Group AG , Goldman Sachs Group Inc. and Royal Bank of Scotland Group Plc each borrowed at least $30 billion in 2008 from a Federal Reserve emergency lending program whose details weren’t revealed to shareholders, members of Congress or the public.
The $80 billion initiative, called single-tranche open- market ... Read More
BusinessGoogle Wants To Become Your Personal Finance Advisor
Posted: May 20th, 2011 11:55 AM
In its attempt to break into the personal finance market, Google has launched a new tool for finding and comparing financial products.
At its core, Google Advisor is a personal finance comparison tool. It helps you check the rates for mortgages, credit cards, CDs, checking accounts and savings accounts by providing a ... Read More
BusinessFollowing Japan Disaster Toyota's Quarterly Profit Slides By 75 Percent
Posted: May 11th, 2011 8:57 AM
TOKYO - Toyota's quarterly profit crumpled more than 75 percent after the March earthquake and tsunami wiped out parts suppliers in northeastern Japan, severely disrupting car production.
The maker of the popular Prius hybrid gave no forecast for the current fiscal year through March 2012, citing an uncertain outlook ... Read More
BusinessAngry Birds Developer Eyes IPO In 3-4 Years
Posted: May 9th, 2011 9:10 AM
Rovio, the developer of the "Angry Birds" mobile game eyes an initial public offering in three to four years, its chief marketing officer was quoting as saying in a Finnish business daily on Monday.
"It is very possible that we will be listed in bourse in three to four years, but we are not in a hurry," Chief Marketing ... Read More
BusinessCisco To Shut Flip Video-Cam Business
Updated: Apr 12th, 2011 10:06 AM
SAN JOSE, Calif. - Cisco Systems Inc. is exiting parts of its consumer businesses, with plans to shut its Flip video camera business.
The announcement by the world's biggest maker of computer-networking gear on Tuesday comes just a week after CEO John Chambers sent a memo to employees vowing to take "bold steps" to narrow ... Read More
BusinessToyota To Resume Production At All Japan Plants
Posted: Apr 8th, 2011 9:26 AM
TOKYO - Toyota Motor Corp. said Friday it will resume limited production at all plants in Japan from April 18 to 27 after the March earthquake and tsunami forced it to halt car manufacturing due to parts shortages.
Toyota, the world's No. 1 automaker, said production at its 18 plants in Japan will operate at 50 percent ... Read More
BusinessHack Attack Could Be Biggest Ever
Updated: Apr 4th, 2011 10:03 AM
The names and e-mails of customers of Citigroup Inc and other large U.S. companies, as well as College Board students, were exposed in a massive and growing data breach after a computer hacker penetrated online marketer Epsilon.
In what could be one of the biggest such breaches in U.S. history, a diverse swath of ... Read More
BusinessFeds Object To Bank Of America's Dividend Plan
Updated: Mar 23rd, 2011 10:30 AM
The Federal Reserve objected to Bank of America Corp's plans to boost its dividend and told the bank to revise its proposal, sending shares down 1.7 percent in premarket trading.
BofA had hoped to be in a second wave of banks raising dividends in the second half of this year, but unlike some of its major rivals, it is ... Read More
BusinessAT&T To Buy T-Mobile USA For $39 Billion
Posted: Mar 20th, 2011 11:45 PM
NEW YORK - AT&T Inc. said Sunday it will buy T-Mobile USA from Deutsche Telekom AG in a cash-and-stock deal valued at $39 billion that would make it the largest cellphone company in the U.S.
The deal would reduce the number of wireless carriers with national coverage from four to three, and is sure to face close ... Read More
BusinessHigher ATM Fees Coming Our Way?
Posted: Mar 17th, 2011 10:36 AM
NEW YORK (CNNMoney) - ATM fees are on the rise at some of the country's biggest banks.
Chase, for example, is testing out $5 fees for non-customers. That means if you stumble upon a Chase on your way to dinner and decide to take out 20 bucks, you'll pay a 25% fee. And that doesn't even include what your own bank charges ... Read More
Business16 Israelis On Forbes Rich List
Posted: Mar 14th, 2011 10:18 AM
The past year has been good for the world's richest people: According to the 2011 Forbes Billionaires' List, the world has more billionaires than ever – and Israel appears to be adapting itself to the world.
The number of people on Forbes' list climbed to 1,210 billionaires, setting a record with combined wealth of $4.5 ... Read More
BusinessJPMorgan Chase, Considers To Cap Debit Card Transactions At $50 or $100
Posted: Mar 10th, 2011 9:09 AM
NEW YORK -- Declined! Your debit card may soon be denied for purchases greater than $100 -- or even as little as $50.
JPMorgan Chase, one of the nation's largest banks, is considering capping debit card transactions at either $50 or $100, according to a source with knowledge of the proposal.
Why? Because of a tricky ... Read More
BusinessBoeing Wins $10 Billion Deal From Two Chinese Airlines
Posted: Mar 9th, 2011 11:24 AM
(Reuters) - Boeing Co. sealed deals worth $10 billion with two airlines in China, the world's fastest growing market, which is likely to buy more than 2,000 aircraft over the next five years.
China expects to order 1,100 new transport aircraft and 1,000 general aviation aircraft, Wang Changshun, vice minister of the Civil ... Read More
Business, OpinionJudge Noach Dear wipes out ‘millions’ in credit card debt
Posted: Aug 29th, 2012 9:57 PM
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Business, TechGoogle To Acquire Motorola Mobility For $12.5 Billion
Posted: Aug 15th, 2011 8:15 AM
Google is buying cell phone maker Motorola Mobility for $12.5 billion in cash in what is by far the company’s biggest acquisition to date.
Google Inc. will pay $40.00 per share, a 63 percent premium to Motorola’s closing price on Friday.
The companies say the deal has been approved by the boards of both.
Google CEO ... Read More
BusinessU.S. Sues Big Oil Traders For 2008 Manipulation
Posted: May 25th, 2011 9:59 AM
Regulators launched one of the biggest ever crackdowns on oil price manipulation on Tuesday, suing two well-known traders and two trading firms owned by Norwegian billionaire John Fredriksen for allegedly making $50 million by squeezing markets in 2008.
The Commodity Futures Trading Commission (CFTC) said traders James Dyer ... Read More
BusinessNasdaq And ICE Pull NYSE Bid
Updated: May 16th, 2011 10:00 AM
Nasdaq OMX Group Inc and IntercontinentalExchange are withdrawing their bid for rival exchange NYSE Euronext, saying it became clear they would not win approval for the deal from the Department of Justice's antitrust division.
The withdrawal of the offer removes any doubt around NYSE Euronext's plans to sell itself to ... Read More
BusinessMicrosoft To Buy Skype For $8.5 Billion
Posted: May 10th, 2011 8:52 AM
Microsoft Corp agreed to buy Internet telephone company Skype for $8.5 billion in cash in its biggest deal ever, as the technology giant seeks to plug a hole in its mobile offerings.
Buying loss-making Skype would have no immediate impact on Microsoft's finances, but would make clear its intention to compete with rivals ... Read More
BusinessOil Sinks Below $100
Posted: May 5th, 2011 4:06 PM
The Dow and S&P 500 fell on Thursday after a weak labor market report fueled new fears about the strength of the economic recovery and as energy shares tumbled with the price of oil.
The energy sector of the S&P .GSPE was the worst performer, falling 3 percent as U.S. crude sank 9 percent to below $100 a barrel. ... Read More
BusinessWinklevoss Twins Lose Facebook Appeal
Posted: Apr 11th, 2011 2:56 PM
SAN FRANSCISCO - The Winklevoss twins, whose battle with Facebook founder Mark Zuckerberg became the focus of the film The Social Network, have lost an appeal over the size of the compensation paid to them.
A US appeals court ruled Cameron and Tyler Winklevoss cannot back out of the settlement agreed with the ... Read More
BusinessP&G To Sell Pringles To Diamond Foods For $1.5 billion
Posted: Apr 5th, 2011 8:55 AM
Procter & Gamble Co said it will sell its Pringles potato chips business to Diamond Foods Inc for $1.5 billion in stock, creating a new snack foods giant.
The transaction will be effected by P&G spinning off its Pringles business and combining this entity with Diamond Foods. P&G shareholders will own 57 ... Read More
BusinessWells Fargo, Chase, SunTrust Cancel Debit Rewards Program
Posted: Mar 27th, 2011 10:55 AM
NEW YORK - Debit card rewards programs are vanishing at several major banks.
Wells Fargo said Friday that it will no longer offer its debit rewards program for new customers. This will go into effect March 27 at Wachovia and April 15 at Wells Fargo (WFC, Fortune 500), while existing customers will remain unaffected for ... Read More
Business, Israeli NewsFacebook Buys First Israeli Start-Up
Posted: Mar 21st, 2011 8:52 AM
Facebook is buying its first Israeli start-up - Snaptu, a company that develops applications for lower tech mobile phones
Snaptu and Facebook confirmed the news yesterday afternoon after it was publicized by TheMarker. While they did not say how much Facebook would be paying for the acquisition, which is expected to be ... Read More
BusinessReport: Groupon Could Value At Up To $25 Billion
Posted: Mar 17th, 2011 12:56 PM
Daily deals website Groupon could be valued at as much as $25 billion in an initial public offering, Bloomberg reported on Thursday, citing two people with knowledge of the company's discussions with banks.
The multi-billion dollar valuation is the latest in a string of high valuations for hot Internet companies ... Read More
BusinessStocks Plunge As Japan Nuclear Crisis Worsens
Updated: Mar 15th, 2011 10:57 AM
NEW YORK (AP) — Stocks are plunging, and bond prices are rising, as the nuclear crisis in Japan intensifies following a deadly earthquake and tsunami. The Dow Jones industrial average fell almost 300 points.
Dangerous levels of radiation began leaking from a crippled nuclear plant Tuesday, forcing Japan to order ... Read More
Business Illinois Gov. Signs Controversial Measure Taxing Amazon & Other Online Retailers
Posted: Mar 11th, 2011 11:52 AM
On Thursday, Governor Quinn signed a measure he called the "Mainstreet Fairness Act," levying a new set of taxes on online retailers. Depending on who you ask, the law, known colloquially as the "Amazon Tax," will be a massive windfall in state revenues, or a set of empty promises that will cause companies to flee the state ... Read More
BusinessIs Warren Buffett's China Car Deal Going To Backfire?
Posted: Mar 9th, 2011 1:32 PM
(Reuters) - An ordinary American investor would probably not put money into a foreign electric car start-up suspected of openly copying competitors, let alone one whose franchised dealers occasionally put other companies' logos on its own vehicles.
But Warren Buffett is no ordinary investor, and China's BYD is no ... Read More
BusinessMadoff Trustee Ready To Distribute $2.6B To Victims
Posted: Mar 8th, 2011 8:31 PM
NEW YORK - The court-appointed trustee charged with recovering assets stolen by Ponzi schemer Bernard Madoff is ready to distribute $2.6 billion worth of recovered funds to the victims.
This will be the first time that Madoff's victims will receive recovered funds.
Together on a press call Tuesday, trustee Irving ... Read More
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