Eric Schmidt,the software engineer who is Google's Executive Chairman,remains the public face of the company after having left the CEO role.His wide-ranging thoughts are heard
everywhere from the halls of Congress to the World Economic Forum that was just held in Davos,Switzerland.
Everything feels sluggish because there's not enough demand,Mr.Schmidt remarked in Davos,but the Internet continues to win advertising,which is less expensive on it.We haven't seen the slowness as hard as others.
Phones that are powerful will go down in price to 60-70 dollars for a billion people.People outside the Western world will rely on mobile phones in fundamental ways because they don't have access to TV and libraries.
We at Google love advertising and we innovate in many ways in it.We're coming up with new ways to make sure your advertising money is well spent.
In the cloud,you don't have to use email to collaborate.People need service and support,and applications can be built on top of it even if it's free.If 100 million people use it,you can make money from it,Eric Schmidt asserted.
Google's Q4 earnings were below estimates,causing the share price to drop 57 dollars.Wells Fargo downgraded the firm from outperform to market perform.
Google,Inc.(GOOG)
Monday, January 30, 2012
Sunday, January 29, 2012
Exxon Mobil To Unload Japan Refining
Exxon Mobil has agreed to sell its Japanese refining unit to its Tokyo partner,Tonengeneral,for 3.9 billion dollars.The move is part of a trend by integrated oil companies to sell or spin off refinery operations in order to concentrate on more profitable exploration and production.
U.S. oil companies are bracing for a United Steel Workers union strike at their refineries.The strike could begin on Wednesday in the absence of progress in the contract talks.If the strike went three months,U.S. refinery output could be cut up to 11%.
A major concern of the union is worker safety.Eighteen workers have died in refinery accidents since the last agreement in 2009.
Asian shares opened lower on Monday on concern over an EU summit in Brussels on the Euro debt crisis,as well as the failure of U.S. growth to meet estimates.The MSCI Asia Pacific Index was down 0.37.
The New Zealand service sector saw slower growth in December.
India's Nifty Fifty futures index was down on concern that the recent rally in equities was excessive.
Exxon Mobil(XOM)
Update:Agreement between the United Steel Workers union and oil refiners including Exxon Mobil,Chevron and Valero,was reached late Tuesday,averting a strike.The ratification or rejection of the deal by a vote of union members could take weeks.
U.S. oil companies are bracing for a United Steel Workers union strike at their refineries.The strike could begin on Wednesday in the absence of progress in the contract talks.If the strike went three months,U.S. refinery output could be cut up to 11%.
A major concern of the union is worker safety.Eighteen workers have died in refinery accidents since the last agreement in 2009.
Asian shares opened lower on Monday on concern over an EU summit in Brussels on the Euro debt crisis,as well as the failure of U.S. growth to meet estimates.The MSCI Asia Pacific Index was down 0.37.
The New Zealand service sector saw slower growth in December.
India's Nifty Fifty futures index was down on concern that the recent rally in equities was excessive.
Exxon Mobil(XOM)
Update:Agreement between the United Steel Workers union and oil refiners including Exxon Mobil,Chevron and Valero,was reached late Tuesday,averting a strike.The ratification or rejection of the deal by a vote of union members could take weeks.
Friday, January 27, 2012
Dissent and Personal Protection:Gillard Rescued From Ruckus-plus an update
Concern crossed the faces of Australian security personnel as Australian Prime Minister Julia Gillard and opposition leader Tony Abbott put aside their differences when a security threat materialised in Canberra,the Australian capital,on Thursday.The politicians were gathered at an awards banquet on Australia Day,the national holiday,which marks the arrival of the first British colonists in Australia in 1788.A crowd of aboriginal rights protesters outside the affair became enraged when Mr.Abbott said things were much better for the Aborigines now,and it was time to move on from the ramshackle protest camp on the lawn of the old Parliament building nearby.That was like waving a red flag at a bull,a protest leader remarked.The activists charged the restaurant,banging on the glass windows and shouting "Shame" and "Racist."
Ms.Gillard's first concern was for Mr.Abbott's safety when she was informed the situation was deteriorating and it was time to get going.What about Mr.Abbott,she asked.We'd better get him out,too.
Ms.Gillard went over to Mr.Abbott and told him about the early exit plan.We'll pull together,she said.No problem,Mr.Abbott replied.
Police,one of them with a riot shield,formed a phalanx around the leaders as one of Ms.Gillard's body guards rushed her to the motorcade.She lost a shoe in the fracas,but was uninjured and later hosted another event at her residence,praising her personal protection detail.The protester who found her shoe said she intended to sell it.
Ms.Gillard,50,is Australia's first female Prime Minister.She formed her Labour Party government in June,2010.
Update:On Friday,the protesters burned an Australian flag in front of Parliament.A mainstream aboriginal leader said the activists do not represent the views of most Aborigines,but are a radical fringe.
Prime Minister Gillard's shoe lost in the escape to her car on Thursday was put up for sale on eBay,but the site took it down because it doesn't belong to the seller.The protesters said it will be returned to Ms.Gillard,who attended the Australian Open tennis tournament on Friday.She said she wasn't worried about the shoe,being fortunate enough to own other pairs of shoes.
iShares MSCI Australia Index Fund(EWA)
Ms.Gillard's first concern was for Mr.Abbott's safety when she was informed the situation was deteriorating and it was time to get going.What about Mr.Abbott,she asked.We'd better get him out,too.
Ms.Gillard went over to Mr.Abbott and told him about the early exit plan.We'll pull together,she said.No problem,Mr.Abbott replied.
Police,one of them with a riot shield,formed a phalanx around the leaders as one of Ms.Gillard's body guards rushed her to the motorcade.She lost a shoe in the fracas,but was uninjured and later hosted another event at her residence,praising her personal protection detail.The protester who found her shoe said she intended to sell it.
Ms.Gillard,50,is Australia's first female Prime Minister.She formed her Labour Party government in June,2010.
Update:On Friday,the protesters burned an Australian flag in front of Parliament.A mainstream aboriginal leader said the activists do not represent the views of most Aborigines,but are a radical fringe.
Prime Minister Gillard's shoe lost in the escape to her car on Thursday was put up for sale on eBay,but the site took it down because it doesn't belong to the seller.The protesters said it will be returned to Ms.Gillard,who attended the Australian Open tennis tournament on Friday.She said she wasn't worried about the shoe,being fortunate enough to own other pairs of shoes.
iShares MSCI Australia Index Fund(EWA)
Monday, January 23, 2012
Conditions At Goldman Sachs-plus its current strategy
Considered by many to be the profit and influence king among investment banks in modern times,Goldman Sachs was nonetheless subject to the same economic forces as everyone else in Q4 2011.The firm beat earnings estimates,but missed on revenue,or sales.Goldman's clientele is being cautious about investing and mergers and acquisitions in this difficult climate.
Trading and investment banking is down.It's not a good time to be an investment banker or trader,according to William D. Cohan,author of the well-regarded book "Money and Power:How Goldman Sachs Came to Rule the World."With the new rules,it's gonna be very tough to do business on Wall Street.
You're gonna get 5-8 years in the limelight at Goldman Sachs;then you're gonna be moved out for younger people.That's a good thing.
I think Goldman Sachs wants to be below the radar screen,not the whackamole.They want to get beyond being the poster child for bad behavior on Wall Street,Mr.Cohan observed.
With regard to the company's current perspective on equities,Dave Costin,Chief Equity Strategist at Goldman,says U.S. companies with the most exposure to the U.S. ought to outperform.It's one of our fundamental strategies for 2012.Consumer staples are what we prefer.Labor slack means little wage growth,hence poor discretionary spending.
Long term,two-thirds of corporate cash is reinvested in growth.In this environment,we're looking at 11% growth of dividends,Mr.Costin noted.
In other words,companies are plowing a lot of cash into dividends today to attract the skittish investors of these volatile times.It's why so many investment advisors are recommending the good dividend payers such as Procter&Gamble and PepsiCo to their clients.
Goldman Sachs(GS),Procter&Gamble(PG),PepsiCo(PEP)
Trading and investment banking is down.It's not a good time to be an investment banker or trader,according to William D. Cohan,author of the well-regarded book "Money and Power:How Goldman Sachs Came to Rule the World."With the new rules,it's gonna be very tough to do business on Wall Street.
You're gonna get 5-8 years in the limelight at Goldman Sachs;then you're gonna be moved out for younger people.That's a good thing.
I think Goldman Sachs wants to be below the radar screen,not the whackamole.They want to get beyond being the poster child for bad behavior on Wall Street,Mr.Cohan observed.
With regard to the company's current perspective on equities,Dave Costin,Chief Equity Strategist at Goldman,says U.S. companies with the most exposure to the U.S. ought to outperform.It's one of our fundamental strategies for 2012.Consumer staples are what we prefer.Labor slack means little wage growth,hence poor discretionary spending.
Long term,two-thirds of corporate cash is reinvested in growth.In this environment,we're looking at 11% growth of dividends,Mr.Costin noted.
In other words,companies are plowing a lot of cash into dividends today to attract the skittish investors of these volatile times.It's why so many investment advisors are recommending the good dividend payers such as Procter&Gamble and PepsiCo to their clients.
Goldman Sachs(GS),Procter&Gamble(PG),PepsiCo(PEP)
Sunday, January 22, 2012
Hiring Now:Professional and General Positions Winter 2012
A broad view of the job market today is being offered in Virginia.The Washington Post is hosting a Mega Career Fair on Tuesday,January 31 from 10am to 3pm at
Dulles Expo and Conference Center
4320 Chantilly Shopping Center,South Hall
Chantilly,VA 20153
A Professional and General Pavilion will include such employers as Allstate;CarMax;Cox Communications;Graduate School USA;Hospitality Staffing Solutions,LLC;Miller's Office Products,Inc.;Transportation Security Administration;and Verizon Wireless.Among positions open are Exclusive Agents;Sales;Account Executives;B2B Sales;Outside Sales;Retail Leadership Development Program Apprentices;Transportation Security Officers;Administrative,Management and Professional and related.
For more information,you may call 1-877-842-3976 x17 or contact resume@expoexpertsllc.com
Even if you can't attend,you may want to visit the websites of those who are hiring to see if you can apply online or find out about other possible openings.
Dulles Expo and Conference Center
4320 Chantilly Shopping Center,South Hall
Chantilly,VA 20153
A Professional and General Pavilion will include such employers as Allstate;CarMax;Cox Communications;Graduate School USA;Hospitality Staffing Solutions,LLC;Miller's Office Products,Inc.;Transportation Security Administration;and Verizon Wireless.Among positions open are Exclusive Agents;Sales;Account Executives;B2B Sales;Outside Sales;Retail Leadership Development Program Apprentices;Transportation Security Officers;Administrative,Management and Professional and related.
For more information,you may call 1-877-842-3976 x17 or contact resume@expoexpertsllc.com
Even if you can't attend,you may want to visit the websites of those who are hiring to see if you can apply online or find out about other possible openings.
Thursday, January 19, 2012
Paula Deen Has Public Support,Poll Shows
Despite her being excoriated in the media by everyone from rival chefs to a TV medical consultant with NBC Universal,a Yahoo poll shows the public isn't buying their bitter criticism of celebrity chef Paula Deen,who has persisted in presenting heavy Southern-style cuisine while hiding the fact that she suffers from type 2 diabetes.Asked whether she should be in the hot seat,62% of the Yahoo readers said no,people are being overly critical,while 38% said yes,she's a hypocrite.
Deen,who was diagnosed three years ago but kept the news to her family while she pondered her next move,has at the same time signed an endorsement contract with Danish pharma titan Novo Nordisk,maker of the flex pen insulin delivery device.Deen hosts the program "Paula's Best Dishes" on the Food Network cable channel.With her sons Bobby and Jamie,she is spearheading the "Diabetes in a New Light" campaign.It is an initiative to help adults find simple ways to manage everyday challenges of type 2 diabetes,the company said.
Resources of the initiative will include how to prepare diabetes-friendly food without compromising taste;incorporating physical activity into everyday life;managing stress;and working with your doctor to find a treatment plan that works for you.The Deens will create modified,diabetes-friendly versions of their favorite recipes and appear at diabetes cooking events across the country,according to Novo Nordisk.
Deen says she will also continue to present her beloved Southern cuisine for consumption in moderation.
Novo Nordisk(NVO)
Deen,who was diagnosed three years ago but kept the news to her family while she pondered her next move,has at the same time signed an endorsement contract with Danish pharma titan Novo Nordisk,maker of the flex pen insulin delivery device.Deen hosts the program "Paula's Best Dishes" on the Food Network cable channel.With her sons Bobby and Jamie,she is spearheading the "Diabetes in a New Light" campaign.It is an initiative to help adults find simple ways to manage everyday challenges of type 2 diabetes,the company said.
Resources of the initiative will include how to prepare diabetes-friendly food without compromising taste;incorporating physical activity into everyday life;managing stress;and working with your doctor to find a treatment plan that works for you.The Deens will create modified,diabetes-friendly versions of their favorite recipes and appear at diabetes cooking events across the country,according to Novo Nordisk.
Deen says she will also continue to present her beloved Southern cuisine for consumption in moderation.
Novo Nordisk(NVO)
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