News money 2008-08-10 Andanh.com

Republic Plaza rises in $5 million redo Sat, 09 Aug 2008 23:00:00 EST
A 35-year-old, seven-story office structure formerly known as the Legal Arts Building is getting a major makeover and will become a central part of Republic Bank's operation.

Parsing values of cheap stocks Sat, 09 Aug 2008 22:58:00 EST
Investors eager to rummage through Wall Street's bargain bin will find plenty of merchandise to choose from.

Chrysler shaky after year with Cerberus Sat, 09 Aug 2008 22:58:00 EST
After running Chrysler LLC for a year, Cerberus Capital Management must be wondering if its mascot, the three-headed dog that guards the gates of hell, is protecting it from the underworld or leading it into the flames.

Student squeeze Sat, 09 Aug 2008 22:55:00 EST
For years, rising numbers of U.S. college students have packed their bags and gone overseas, typically to Europe, for a semester or year abroad and a wealth of irreplaceable memories. Lately, though, they have been stung by a nasty adversary that they and their parents didn't have to worry about until recently: the sinking dollar.

Turn on, tune in Wi-Fi favorites Sat, 09 Aug 2008 22:52:00 EST
What are you going to listen to? Norway's 24-hour folk music channel Allttid Folkemusikk? The public hearings of the California Integrated Waste Management Board? Radio Banadir -- the Most Trusted News in Somalia? It's a big world out there, and radios that grab their sound from the Internet rather than the airwaves can bring it home.

GM will market a hybrid Escalade Sat, 09 Aug 2008 22:56:00 EST
General Motors will test the market for a full-size luxury hybrid sport utility vehicle when it releases the industry's first model in that category -- the Cadillac Escalade Hybrid -- next month.

Could this be the end of vehicle leasing? Sat, 09 Aug 2008 22:57:00 EST
Is auto leasing really dead? Oh, I so hope so. But, alas, that question was just a headline on a news release from the National Vehicle Leasing Association.

Search engine's shares climbing back after disappointing quarter Sat, 09 Aug 2008 22:56:00 EST
Google shares have been clawing back toward the $500 mark since plunging nearly 10 percent on July 18 after the Internet search leader's second-quarter earnings missed analysts' expectations.

Motorbike insurance options explored Sat, 09 Aug 2008 22:57:00 EST
I want to buy a motorcycle or scooter to commute to work and save money on gas. What are my options for insurance coverage, and which bikes would give me lower premiums?

P-E strategy can backfire Sat, 09 Aug 2008 22:55:00 EST
Picking stocks based on low price-earnings ratios may seem like a great strategy, but Investor's Business Daily notes that such a screen often filters out the best-performing stocks and can shift you into sectors that are on the downside of a peak.

Georgetown to continue building Solara Sat, 09 Aug 2008 02:58 EDT

Toyota's Georgetown manufacturing plant will continue to build the Solara convertible through the end of the year, reversing plans this summer to cut the vehicle.

A Toyota Motor Sales spokesman said Friday that consumers' desire to buy more fuel-efficient vehicles, in light of record-high gas prices, led executives to keep the Solara in production.

The vehicle is rated at 22 miles per gallon in cities and 31 on highways.

In the near future, executives will .take a look at what the next steps might be. for the vehicle, .but nothing's really been decided,. said spokesman Joe Tetherow.

Sat, 09 Aug 2008 01:58 EDT

Earnings roundup

The following companies made earnings-related announcements Friday.

Windstream Corp.

Second Prior-year quarter period

Hacking goes too far at hackers' conference Sat, 09 Aug 2008 01:58 EDT

Associated Press

LAS VEGAS . At a conference for computer hackers, one place was off limits: the press room.

But three journalists working for the French publication Global Security Magazine were booted Thursday from the Black Hat conference after they were allegedly caught hacking into the private network set up for the media.

The journalists captured what they claimed were usernames and passwords of reporters from at least two media outlets.

Industry turns up volume on phone books Sat, 09 Aug 2008 01:58 EDT

ALBANY, N.Y. . It's been a fixture on kitchen counters and refrigerator tops and in junk drawers for decades.

But today, the Yellow Pages is a bit too ubiquitous for some, with phone books published annually in the United States outnumbering the population by two to one.

While the $17 billion-a-year industry is showing remarkable resilience as other advertising-driven businesses suffer, it has become a familiar target in state legislatures, where lawmakers have tried . unsuccessfully, so far . to place limits on distribution.

The Yellow Pages Association, an industry trade group, has paid outside lobbyists about $50,000 so far this year to defend it in communities across the country. Two main points the group tries to get across are that phone books help promote local businesses and that they are made almost entirely from wood scraps collected at sawmills and recycled paper.

Business Notes Sat, 09 Aug 2008 01:58 EDT

National

UBS to buy back bonds for $19.4 billion

The Massachusetts Secretary of State's office says Swiss Bank UBS has reached a $19.4 billion agreement to buy back bonds to settle claims that it misled investors into buying high-risk securities. UBS has agreed to repurchase all of the auction-rate securities it sold to retail customers, charities and small and midsize businesses beginning Jan. 1.

Three tips on buying a gas-saving scooter Sat, 09 Aug 2008 01:58 EDT

Switching to a scooter is an easy way to save gas, but Consumer Reports offers a few things to keep in mind:

. Limitations on where the bike can be operated. As a rule, vehicles that go below 30 mph are restricted to the right lane or the shoulder.

. You should take a class. You'll need to learn how to work the throttle and brakes, and how to take turns.

. You'll have to find insurance. One good thing about insuring a motorcycle or scooter is that it's cheaper than insuring your car.

Alumni Hall buys Dawahare's CatBird Seat locations Sat, 09 Aug 2008 02:58 EDT

Alumni Hall Stores is buying the three CatBird Seat locations in Lexington and Louisville from Dawahare's of Lexington for $296,000.

U.S. Bankruptcy Judge Joseph Scott approved the sale Friday and Alumni Hall's owner, Jeff Goodfriend, said the Knoxville company will open in those locations .as soon as possible..

Alumni Hall, like the CatBird Seat, sells clothing and other merchandise for college sports fans and alumni. Goodfriend said the company definitely wants the stores open before the University of Kentucky-University of Louisville football game on Aug. 31.

.We have been dying to get up into that market,. he said. .We know the fans are passionate just like they are here. in Knoxville.

Lousy economy threatens states' sales tax holidays Sun, 10 Aug 2008 16:47 EDT
Thousands of shoppers have been flocking to malls in more than a dozen states for back-to-school sales tax holidays, buying millions of dollars worth of clothes and school supplies - and depriving states of much-needed revenue.

The tax holidays offer a financial relief valve to families grappling with high gas and food prices, and are a welcome tradition among retailers. But some lawmakers, economists - and even some shoppers - are questioning why states are suspending sales taxes amid a slumping economy. Several states have called off the event entirely.

Vanessa Lee of Atlanta snagged six pairs of sneakers and a few dresses for $115 during Georgia's tax holiday at the start of this month. But the 42-year-old mother of three daughters in elementary school said she would rather have paid the taxes and seen the money go toward education.

"We could do away with the holiday," Lee said. "I would hate to see our teachers and classrooms lose out on money because the state doesn't have enough revenue."

Sixteen states and the District of Columbia hold tax holidays, usually one weekend a year in which clothing, classroom supplies and energy-efficient appliances are exempt from sales tax.

Investors eye oil, dollar, retail sales this week Sun, 10 Aug 2008 14:22 EDT
The dollar's rebound and oil's tumble breathed some serious optimism into Wall Street last week. But no one knows for sure yet whether the two trends are truly antidotes for what's been ailing the stock market.

This week, investors will be focusing again on the U.S. currency and the energy markets, but also on retail industry reports to gauge consumer spending.

Consumers would certainly benefit from lower food and fuel costs, but they also still face falling home prices, huge debt loads and an uncertain job market. If it appears that they are struggling severely, the recent decline in energy prices might not be enough to sustain a stock market rally.

On Wednesday, the Commerce Department reports on retail sales in July, data coming on the heels of spotty sales figures released by individual retailers last week. According to the median estimate of economists surveyed by Thomson Financial/IFR, the report is likely to show flat sales for the month compared with June, when retail sales rose by 1 percent.

Some major retailers are also releasing their quarterly results this week. Those companies include Wal-Mart Stores Inc., Macy's Inc., JCPenney Co., Kohls Corp., Abercrombie & Fitch Co. and TJX Cos., which operates T.J. Maxx and Marshalls.

Airports brace for fewer flights, passengers Sun, 10 Aug 2008 16:37 EDT
From his office overlooking the runways of one of the nation's busiest airports, Dallas-Fort Worth International Airport Chief Executive Jeffrey Fegan sees the slowdown coming this fall.

Airlines are cutting flights under the pressure of rising fuel costs, and that means fewer passengers and less money from parking and food concessions at DFW. For the first time in its 34-year history, the airport is freezing its budget and rethinking future expansion plans.

"We couldn't do that even after 9-11," Fegan says.

With the airline industry in a nosedive, airports are hitting turbulence: After years of growth, they are delaying capital projects, freezing hiring, and considering increases in everything from landing fees to parking. Concessionaires are hurting, and many expect to close.

The problems are greatest at secondary airports that are losing a bigger share of their flights and lack international service to shore up weak domestic traffic.

Verizon, 2 unions agree on new 3-year contact Sun, 10 Aug 2008 18:37 EDT
Verizon Communications Inc. and two unions representing 65,000 workers who had threatened to strike within hours agreed Sunday on a new three-year contract that provides 10.5 percent wage increases and changes in retirement benefits.

The pact, which must be ratified by union members, was hailed as a "breakthrough agreement in many ways" by Communications Workers of America President Larry Cohen.

The deal "provides a framework for growth at Verizon and a good standard of living with careers for our members," Cohen said.

It also extends union recognition to 600 former MCI technicians who had sought it since joining Verizon two years ago, the union said. Verizon said another 900 temporary employees would be regularized.

Verizon's Executive Vice President Marc C. Reed said the contract will allow the company to remain "focused on delivering to our customers the best in broadband, communications and entertainment."

Researchers work to turn car's exhaust into power Sun, 10 Aug 2008 15:28 EDT
The stinky, steaming air that escapes from a car's tailpipe could help us use less gas.

Researchers are competing to meet a challenge from the U.S. Department of Energy: Improve fuel economy 10 percent by converting wasted exhaust heat into energy that can help power the vehicle.

General Motors Corp. is close to reaching the goal, as is a BMW AG supplier working with Ohio State University. Their research into thermoelectrics - the science of using temperature differences to create electricity - couldn't come at a better time as high gas prices accelerate efforts to make vehicles as efficient as possible.

GM researcher Jihui Yang said a metal-plated device that surrounds an exhaust pipe could increase fuel economy in a Chevrolet Suburban by about 5 percent, a 1-mile-per-gallon improvement that would be even greater in a smaller vehicle.

Reaching the goal of a 10 percent improvement would save more than 100 million gallons of fuel per year in GM vehicles in the U.S. alone.

Fleming farm combines old, new to make green Sun, 10 Aug 2008 19:05 EDT

PORTER HOLLOW . A rooster's crow, out behind the barn, launches the day at The Jerrys' Farm, nestled amid rolling, green-shaded hills in western Fleming County.

In the field below the barn, the young pigs snort around the grass in their mobile pen, impatient for Jerry Neff to fetch the morning rations.

Up on the hill, Jerry Hicks is riding the clattering old mowing machine, pulled by the big Belgian draft horses, Ted and Alice, slaughtering weeds . and being careful not to hit the solar panels collecting energy from the morning sun.

The first time you visit The Jerrys Farm . that's what Hicks and Neff call their place . it's easy to get a mite confused as to just what century these guys are living in.

Chinese Dir