buy trade business

Christmas Price Index Climbs in 2007
Prices are soaring and it will be more expensive to buy your True Love the Twelve Days of Christmas this year. The PNC Christmas Price Index says the significantly higher price of gold and increased compensation for minimum wage workers will make Christmas more expensiv. The PNC Christmas Price Index is a tongue-in-cheek economic analysis by PNC Wealth Management based on the cost of gifts in The Twelve Days of Christmas.According to the 23rd annual survey, the cost of The Twelve Days of Christmas is $19,507 in 2007, a 3.1 percent increase over last year. The rise in gift prices mirrored the U.S. governments Consumer Price Index. The Consumer Price Index is up 3.5 percent so far this year.Each year, the Christmas Price Index reflects trends in the broader economy, said James Dunigan, managing executive of investments for PNC Wealth Management. This year, increased commodities prices, concerns about the value of the dollar and the first minimum wage increase in 10 years were major factors in the increases to the Christmas Price Index.For example, True Loves are paying more this year for the five Gold rings. You can see an explanation of this below. There is also a video on the PNCs website.True Loves will have to pay a bit more for the five Gold Rings this year, as the jewelers who provide the prices for the rings report having no choice but to pass increased prices along to consumers as the price of gold continues to rise.The cost of the Gold Rings in this years Christmas Price Index reflects the general trend of increasing commodity prices in the Consumer Price Index, including gold, said Dunigan. In addition, increased fears about inflation and the value of the dollar may have led investors to turn to gold as a safer place to invest their money.The price of five gold rings now totals $395, a 21.5 percent increase over 2006 prices, but still nowhere close to 1989 prices, when the five Gold Rings hit an all-time high of $750.Milkmaids Benefit from Minimum Wage IncreaseAs the only unskilled laborers in the Christmas Price Index, the eight Maids-a-Milking make minimum wage, and have not had a raise since 1997. This year, Congress increased their wages by 13.6 percent; bringing the cost of eight Maids-a-Milking for one hour of work to $46.80. The True Love will have to reach deeper into his pockets for the milkmaids in 2008 and 2009, as well - Congress has already approved continued increases to the minimum wage for the next two years.The cost of most performers in the index - the Drummers Drumming, Pipers Piping and Lords-a-Leaping - rose a modest 3 to 4 percent, due primarily to an increase in the performers compensation, reflecting the current labor market in which the unemployment rate is still below 5 percent. Only the price for the Ladies Dancing was unchanged this year, according to Philadanco, a modern dance company in Philadelphia.Food Prices Are For the BirdsAmong the feathered friends in the Christmas Price Index, the most notable increase was a 20 percent change in the price for six Geese-a-Laying, provided by the National Aviary.For True Loves planning to serve a Christmas goose - or six - for a holiday meal, this item will be a bit more expensive, said Dunigan. Food prices have increased over the last year, which has not impacted birds like Turtle Doves and Partridges, but has had an impact on birds traditionally served as food, like Geese.Most of the other bird prices in the index remained even with last years rates, thanks to steady supply and demand for Partridges, Turtle Doves, French Hens and Swans. Aside from the Geese-a-Laying, only the Calling Birds will cost more in 2007. PNC prices the Calling Birds from a national pet store chain, and prices for Calling Birds or canaries were up 25 percent this year, thanks to higher demand and increased shipping costs for retailers.2007: Most Expensive Christmas EverFor those True Loves who prefer to do their shopping online, PNC Wealth Management calculates the cost of The Twelve Days of Christmas gifts purchased on the Web. This year, the trends identified in the traditional index are repeated in the Internet version, with overall growth of 3 percent, very close to the 3.1 percent in the traditional index. This year, the Internet index is very similar to the traditional index. For example, the price of gold is significantly higher online in 2007 compared to 2006. And, as with the traditional Christmas Price Index, bird prices are mostly even with or, in some cases, down a bit from 2006 levels. In general, Internet prices are higher than their non-Internet counterparts because of shipping costs.As part of its annual tradition, PNC Wealth Management also tabulates the True Cost of Christmas, which is the total cost of items gifted by a True Love who repeats all of the songs verses. This holiday season, very generous True Loves will pay more than ever before - $78,100 - for all 364 items, up from $75,122 in 2006. This 4 percent increase is about even with last years 3.5 percent increase.Permalink | Recent Headlines | WWFeeds.com

EA extends deadline for Take-Two offer - BusinessWeek
The Money TimesEA extends deadline for Take-Two offerBusinessWeek - Mar 28, 2008By BARBARA ORTUTAY Electronic Arts is not backing down from its $2 billion hostile bid for the publisher of Grand Theft Auto even as Take-Two Interactive does what it can to buy more time.Electronic Arts to Take-Two: Game Over ForbesEA extends offer for Take-Two but wants 'poison pill' removed Bizjournals.comSan Francisco Chronicle - Variety - Red Herring - E-Commerce Timesall 116 news articles

Clear Channel says buyout may collapse - Reuters
EarthtimesClear Channel says buyout may collapseReuters - 20 hours agoNEW YORK Reuters - Radio broadcaster Clear Channel Communications Inc said on Friday its pending $20 billion buyout may collapse, as the banks had failed to provide funding for the deal under previously agreed terms.Clear Channel Defers Dividend Wall Street JournalUPDATE:Clear Channel,Buyers Want Suit Kept In Texas State Court CNNMoney.comForbes - Bizjournals.com - Boston Globe - The Associated Pressall 564 news articles

Microsoft Makes $44.6 Billion Offer to Buy Yahoo
Microsoft has made a surprise $44.6 billion offer to buy Yahoo at $31 per share share.Yahoo issued a statement saying they would consider the offer. Yahoo said that its board will evaluate this proposal carefully and promptly, in the context of Yahoos strategic plans, and pursue the best course of action to maximize long-term value for shareholders.Microsoft CEO Steve Ballmer said they could help Yahoo compete: We have great respect for Yahoo, and together, we can offer an increasingly exciting set of solutions for consumers, publishers, and advertisers while becoming better positioned to compete in the online-services market,Yahoo recently laid off over 1,000 employees. They are a great company with numerous online products including several recently purchased social media sites like Blo.gs and del.icio.us. They also have a significant media side with original content and acquisitions like Rivals.com. It will be interesting to see whether Microsoft can convince Yahoo shareolders that this is the best option for them or whether Yahoo shareholders believe the company can do better by staying independent.Yahoos shares YHOO are up over 44% on news of the deal reports Marketwatch.Google shares are down significantly on the news because of concerns that a Microsoft-Yahoo merger could threaten Googles search and online advertising dominance.Microsoft views Yahoo as its best chance to thwart Google, which has leveraged its leadership in Internet search and advertising to emerge as an increasingly serious threat to the worlds largest software makers persuasive influence on how people interact with computers.Google already controls nearly 60 percent of the U.S. search market, and has been widening its lead, despite concerted efforts by both second-place Yahoo and third-place Microsoft. By combining, Microsoft and Yahoo would have a 33 percent share of the U.S. search market, according to the latest data from comScore Media Metrix.By joining forces, Microsoft and Yahoo also would widen their narrowing advantage over Google in providing free e-mail accounts -- a service that helps foster more loyalty with users and create more advertising opportunities.Google shares GOOG are down 9% on the news in early trading today.Permalink | Recent Headlines | WWFeeds.comAdvertisement:Find flowers, greeting cards, candy, gift ideas and morein ShoppersShop.coms Valentines Day Shopping section.

Vector Capital says offer to buy Captaris has expired - CNNMoney.com
Vector Capital says offer to buy Captaris has expiredCNNMoney.com - 1 hour agoBOSTON, Mar. 28, 2008 Thomson Financial delivered by Newstex -- Private equity firm Vector Capital Friday said its offer to purchase Captaris Inc. NASDAQ:CAPA for $4.75 per share has expired.UPDATE 1-Vector Capital says Captaris offer expires ReutersVector's Bid for Captaris Expires Houston ChronicleFOXBusiness - Blogging Buy Outs - Bizjournals.com - PR Newswire press releaseall 33 news articles

Abu Dhabi Invests in Citigroup
The oil rich government of Abu Dhabi has decided to help save Citigroup from its credit woes. The IHT reports that the Abu Dhabi Investment Authority is purchasing a $7.5 billion stake in Citigroup.By agreeing to purchasing a $7.5 billion stake in the faltering banking giant Citigroup, the secretive, government-controlled Abu Dhabi Investment Authority is breaking with tradition.As the largest sovereign wealth fund in the world, with assets estimated at $650 billion, it poured money in the past into low-return, low-profile investments or small emerging market deals, unlike its flashy emirate neighbor, Dubai.But a falling dollar and a growing cash pile are spurring Abu Dhabi to change strategy, according to analysts, economists and deal makers, who said that more big-ticket deals might be ahead.Flush with cash from its oil exports, Abu Dhabi turned to Wall Street, using a complicated transaction late Monday to buy 4.9 percent of Citigroup, acquiring high-yield, convertible stock that must be exchanged for common stock between March 2010 and September 2011.Abu Dhabi will obtain a 4.9 percent stake in Citigroup with the investment. The move comes just after Citigroups shares hit a five-year low.Permalink | Recent Headlines | WWFeeds.com

Markets React to Bear Sterns, Weekend Fed Action
JP Morgan Chase has snatched up Bear Sterns in a rapid transaction for a huge discount of $2 a share. JPMorgan Chase & Co. agreed to buy Bear Stearns Cos. for $240 million, about 90 percent less than its value last week, after a run on the company ended 85 years of independence for Wall Streets fifth-largest securities firm.Shareholders of Bear Stearns will get stock in JPMorgan equivalent to about $2 a share, compared with $30 at the close on March 14, the New York-based companies said in a statement late yesterday. The Federal Reserve is providing financial backing to JPMorgan, the second-biggest U.S. bank, and also cut the rate on direct loans to banks in its first emergency weekend action in almost three decades to stave off a broader market panic. The Fed also moved in with a rare weekend move and dropped the emergency lending rate a quarter of a point. President Bush also weighed in predicting a turnaround. President Bush rushed to strike a note of calm to the turbulent situation on Monday morning, hailing the Feds action and saying: Weve taken strong decisive action. The president spoke after meeting at the White House with Treasury Secretary Henry Paulson and other members of his economic team. Were in challenging times, Bush said.Despite all the action to help prevent losses stocks are still in negative territory again today. The Financial Times says investors are waiting for the next domino to fall.Permalink | Recent Headlines | WWFeeds.com

Clear Channel Says Private-Equity Buyout May Collapse (Update3) - Bloomberg
Edmonton JournalClear Channel Says Private-Equity Buyout May Collapse Update3Bloomberg - 56 minutes agoBy Don Jeffrey March 28 Bloomberg -- Clear Channel Communications Inc., the biggest US radio broadcaster, said its sale to private- equity firms may collapse after banks backed out of financing the $19.5 billion deal.Clear Channel fight gets down 'n' dirty CNNMoney.comClear Channel says buyout may not close ReutersWall Street Journal - Bizjournals.com - Forbes - FOXBusinessall 1,429 news articles

Gold Passes $1,000 Mark
Gold traded at a record $1,000 an ounce for the first time today. The news coincides will the recession concerns, the weak dollar and the high price of oil. The BBC reports that since the beginning of 2008 gold has jump 20%. Gold also climbed 32% last year.Since the beginning of the year the value of gold has increased by about 20%, after it rose 32% in 2007.Gold eventually settled for the day at $993.80, up $13.30 an ounce.Analysts say gold will stay high as long as dollar and growth fears remain.Every bit of bad US economic data boosts gold in two ways, said Fortis Bank.First because it reinforces the return of its role as a safe-haven asset, and second because the dollar falls on expectations of further Federal Reserve rate cuts.The price of gold story made all the major newspapers and wire services: Reuters, Guardian, The Independent, Forbes, National Post, USA Today, Financial Times, Wall Street Journal, Telegraph.co.uk, Bloomberg and New York Times to name a few.A 52% climb in just twelve months might mean gold has climbed too quickly notes USA Today columnist John Waggoner here.If youre hankering to buy gold, you may get a chance to buy it more cheaply in the next month or so. Gold bullion has soared 52% over the past 12 months and 19% this year ? and it may have gotten ahead of itself. But if you want to invest for the long run in gold ? which can have a role in a diversified portfolio ? you have three good options: gold bullion coins, gold exchange-traded funds and gold mutual funds.Then again, Waggoners column also mentions that James DiGeorgia - editor of the Gold and Energy Advisor website - says gold could climb to $2,500 an ounce.Permalink | Recent Headlines | WWFeeds.com

Bank of America to Buy Countrywide
Reuters reports that Bank of America is buying Countrywide for $4 billion.The purchase marks another acquisition for Bank of America Chief Executive Kenneth Lewis, who has spent more than $100 billion since 2004 to create the second-largest U.S. bank and the nations largest consumer bank.It also provides a lifeline for Countrywide, which became a poster child for what critics say were lending excesses that fueled the housing and credit meltdown.The largest U.S. mortgage lender has been convulsed by mounting losses and defaults, a loss of access to credit markets, and a slew of lawsuits and regulatory probes into its lending practices and Chief Executive Angelo Mozilos pay. On Tuesday, it denied rumors that it might go bankrupt.Countrywide has been hit very hard by the housing and credit problems. The deal is a big save for them and their shareholders but there are questions about what it means for Bank of America. SeekingAlpha says Bank of America will lose billions in the deal to acquire Countrywide. The Economist calls BofAs purchase a big gamble. Time will tell but it does sound like a risky acquisition.Permalink | Recent Headlines | WWFeeds.com

Apple Takes a Drubbing
Apple AAPL has been taking a beating on Wall Street today. The stock is down over 10%. The reason isnt the companys holiday performance but the possibility of a weaker future. Forbes is asking if one bad Apple could spoil the bunch - meaning could Apple weakness spill over into other tech stocks. Its hard to see gadgets having as good a year this year as they did last year if we are heading into a recession.To some extent, its a case of one bad Apple AAPL spoiling the bunch. Steve Jobs & Co. is seen as the most innovative, growth-producing group in tech. And if the U.S. consumers economic troubles are starting to rattle mighty Apple, high fliers like Research In Motion RIMM and Google GOOG might not be immune, either.Indeed, Apples holiday performance showed signs that the companys not unstoppable in 2008. In particular, Apples cautious outlook, weakness in U.S. iPod growth and the unpredictability of iPhone sales left Wall Streets pessimists plenty of reason to doubt. And in this jittery market, those pessimists have a lot of power.First, a recap of Apples good news - and there was plenty of it. Apple turned in revenue of $9.6 billion and profit of $1.6 billion for the holiday quarter, blowing past the average analyst estimate. The company shipped a record 2.3 million Intel INTC-based Macs during the period, and actually sold as many iPhones as computers. In the process Apple generated $2.7 billion in cash, bringing its war chest to $18.4 billion.But there was troubling news, too. On the conference call with analysts, Chief Financial Officer Peter Oppenheimer admitted that iPod sales merely met the companys expectations, rather than exceeding them. Part of the reason, he said, was that U.S. iPod sales weakened in December - it took overseas sales to make up the difference. In the U.S., in the gift-buying season, we saw a slightly different curve, he said. That was made up for in our very, very good growth internationally.Apple did have a great holiday quarter but what will happen to Apple in the first three quarters of this year with consumers fighting off a recession and rising prices? Thats the question investors are asking about Apple and many other gadget manufacturers. There are also concerns that if people already have any iPod will they might not be as excited about owning the latest and greatest iPod - especially if things get tight.Permalink | Recent Headlines | WWFeeds.com

Fremont General says FDIC orders recapitalization of bank and ... - CNNMoney.com
Fremont General says FDIC orders recapitalization of bank and ...CNNMoney.com - 42 minutes agoNEW YORK, Mar. 28, 2008 Thomson Financial delivered by Newstex -- Fremont General NYSE:FMT PR NYSE:FMT Corp. Friday said the Federal Deposit Insurance Corporation issued a supervisory prompt corrective action directive to the company and to its ...Fremont Ordered to Recapitalize Wall Street JournalFremont Ordered by FDIC to Find Buyer; Curbs Imposed Update3 BloombergReuters - FOXBusiness - Housing Wire - 24/7 Wall St.all 20 news articles