Archive for July, 2010
General Electric Co. (NYSE: GE) Takes Stake in 11 Idaho Wind Farms
General Electric Co. (NYSE: GE) is taking a majority stake in eleven wind farms in Idaho, a project worth almost $500 million according Exergy Development Group, who is selling the assets to General Electric Co. (NYSE: GE). Montana Wind Farm developer Exergy Development Group said that General Electric Co. (NYSE: GE) Energy will take a [...]
Citigroup, Inc (NYSE: C) Mortgage Applications up 60% in 60 Days
Citigroup, Inc (NYSE: C) has seen mortgage applications increase by 60% during the last two months at its retail bank, according to a new report from the Wall Street Journal. Applications for jumbo mortgages, or mortgages that are greater than $729,000 in value, are up 30%. The overall mortgage pipeline for Citigroup, Inc (NYSE: C) [...]
Bank of America Corp (NYSE: BAC) Seeks Growth in Australia
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division has established a new Australia advisory board which will be led by former BHP Billiton Ltd. chairman Don Argus, according to a WSJ Report. Argus, a respected Australian business man, will work with Merrill Lynch’s country head for Australia, Craig Drummond to “develop the strategic and [...]
General Electric Co. (NYSE: GE) Hires Energy Services Vice President
General Electric Co. (NYSE: GE) has announced the appointment of Eric Gebhardt as a senior general manager and vice president in G.E.’s Energy Services, a business within G.E.’s energy unit. Gebhard has previously held a number of leadership roles in G.E. Energy during his 19 years with the company. Previously, Gebhardt was a senior general [...]
Yahoo (NASDAQ: YHOO) Board of Directors Authorizes $3 Billion Buyback
Yahoo (NASDAQ: YHOO)’s board of directors authorized the company’s management to repurchase up to $3 billion worth of common shares during the next three years in a statement on Wednesday. The buyback announcement comes the internet content giant has almost depleted its previous $3 billion repurchase plan approved in 2006. The company told investors in [...]
Ford Motor Co. (NYSE: F) Setting Lincoln Brand Up For Turnaround
Ford Motor Co. (NYSE: F) recently won the “Best Turnaround of the Year” award, but the Detroit based automotive company’s luxury brand is still struggling. Traditionally, Lincoln has been one of the top profit earners since the 90’s. Some believe the Lincoln had made as much as $2.5 billion in gross annual profit based on [...]
Bank of America Corp (NYSE: BAC)’s Countrywide Being Sued for Discrimination
Bank of America Corp (NYSE: BAC)’s Countrywide mortgage business is being sued by the state of Illinois for allegedly discriminating against Latino and Black borrowers, according to a report from Bloomberg. Illinois state attorney general Lisa Madigan has filed a suit alleging that Countrywide disproportionately steered minorities into high-risk subprime mortgages. “Countrywide’s illegal discriminatory lending [...]
Citigroup, Inc (NYSE: C) To Issue Second Quarter Earnings on July 16th
Citigroup, Inc (NYSE: C) will issue its second quarter earnings results via a press release at 8:00 PM ET on Friday, July 16th. The company will review the earnings results via a live webcast and teleconference at 11:00 AM ET. The New York-based bank will make the the press release, webcast and presentation materials will [...]
Google (NASDSAQ: GOOG) Purchases Travel Search Company
Google (NASDAQ: GOOG) has announced a $700 million acquisition of ITA software, which provides data for travel search engines. The deal announced on Thursday is one of the largest acquisitions that Google has attempted to make and will likely give the company a strong influence in a key area of electronic commerce. Henry Harteveldt, an [...]
JPMorgan Chase & Co. (NYSE: JPM) Spent $1.5 Million in Q1 Lobbying
JPMorgan Chase & Co. (NYSE: JPM) spent more than $1.5 million lobbying the federal government during the first quarter on financial regulatory overhaul and mortgage lending. The company’s first-quarter lobbying spending was a 15% jump compared to JPMorgan Chase & Co. (NYSE: JPM)’s Q1 2009 lobbying spending. However, the first quarter lobbying spending was a [...]
Apple (NASDAQ: AAPL) May Give Apple TV an iOS Overhaul
Apple (NASDAQ: AAPL) may overhaul its Apple TV product with a new model based on the iOS operating system which powers the iPhone and iPad, according to the New York Times. The anonymous sources that the NYT reported said that Apple was planning a software upgrade for the set-top box referred to by Steve Jobs [...]
Ford Motor Co. (NYSE: F) Sees Boost in Mustang, Taurus and F-Series Sales
Ford Motor Co. (NYSE: F) saw a boost in the number of F-series trucks, as well as Taurus and Mustang cars during the month of June. Overall, Ford Motor Co. (NYSE: F) saw a 15% increase during the month of June but dropped 13% from May as the broader automotive industry lost some its momentum. [...]
Bank of America Corp (NYSE: BAC) Announces Quarterly Dividends on Preferred Stock
Bank of America Corp (NYSE: BAC)’s board of directors has authorized paying dividends on various classes of preferred stock. Here are the details: A quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, is payable on September 14, 2010 to shareholders of record as of August 31, [...]
General Motors to File IPO in August
General Motors will file its initial public offering in mid-August and will likely sell about $3 billion of mandatory notes which will convert into stock shares in the future. The Detroit motor company will take the proceeds from the IPO to repay its debt with the federal government to pay its pension liabilities. The IPO [...]
Microsoft Corp (NASDAQ: MSFT) Kin Smart Phone Receives Tribute Site
Microsoft Corp (NASDAQ: MSFT)’s Kin smart phone only was on the market for a few weeks before the Redmond-based company killed the product. Many are light-heartedly morning the loss of the Kin and a new tribute site, KinRIP.com, has been setup to make sure that the phones are not forgotten. The website features pictures of [...]
worst video player ever- after over2:00 there's still no video appearing 