Wealthy Reader

FAA considering $25M penalty for American Airlines

cflynn — Fri, 20 Aug 2010 16:54:27 +0000

According to a published report, federal officials are ready to hit American Airlines with a hefty penalty of $25 million or more for maintenance shortcomings that led to thousands of canceled flights in 2008. The Wall Street Journal says that the FAA hasn't made a final decision or informed American, and that a decision could still be weeks away.

The proposed fine stems from improper electrical wiring around the landing gear of many of its planes. American was forced to ground its entire fleet of about 300 McDonnell Douglass MD-80-series jets in April 2008 while mechanics fixed the problems. So if they were fixing them what is the problem? Well, FAA officials say that the wiring work could have led to fires and fuel-tank explosions. American said it was a minor matter of improperly spaced clips that held wires together, and that passenger safety was never jeopardized.

[USAtoday]

Dell earnings top estimates

cflynn — Fri, 20 Aug 2010 16:47:16 +0000

Things are good for Dell right now. Only days after regulatory filings showed waning support for Dell CEO Michael Dell, the company reported earnings that topped analysts' estimates. On Thursday, Dell reported net income of $545 million, or 28 cents per share, for the quarter that ended July 30. That's up 17% from $472 million, or 24 cents per share, in the same period a year ago.

Strong demand from Dell's corporate clients helped as businesses around the world are updating their outdated technology. Dell expects sales growth in the low single digits during the third quarter and expects full year revenues to increase 14% and 19% versus last year. Dude, people are getting some Dells.

[CNN]

Wall Street Bonuses to Rise This Year

cflynn — Fri, 13 Aug 2010 16:25:06 +0000

If you want to get a sense of who has the wealth in this country, just scan the head lines. You'll see everyone losing money except for wall street, big pharma and all of the other corporations that pull the strings on our government. Everyone is losing money, while wall street makes their government deals and rakes it in like the slimey criminals they are.

While you and I struggle playing by the rules, incentives at financial firms should rise from 2009 levels for the second straight year. What's it going to take for people to open their eyes and demand change?

[moneynews]

Majority say they don't count on Social Security

cflynn — Fri, 13 Aug 2010 16:06:05 +0000

Pessimism over Social Security is at an all-time high as six in ten Americans who don't already receive benefits through the program say they never will, according to a new CNN/Opinion Research Corporation poll. And why should they trust their government? It's just lie after lie. They have cried wolf too often. No one in their right mind trusts a compulsive liar.

"There have always been a significant number of Americans who thought that Social Security would not be able to pay benefits to them when they retire," CNN Polling Director Keating Holland said. "But since 1989, when Gallup first asked this question, that number usually hovered in the mid-40s and never rose higher than 52 percent. Today, 60 percent say they will never get a benefit from Social Security."

[CNN]

Tylenol's side effect may be a brand boycott

cflynn — Sun, 08 Aug 2010 17:21:52 +0000

Tylenol, Motrin, and Benadryl may come back to drugstores near you, but industry watchers say consumers could permanently banish them from their own medicine cabinets. It's a case of fool me once shame on you, fool me a hundred times, shame on me.

Too many quality problems have been plaguing them and the brands are in jeopardy. Johnson & Johnsons drugmaking unit McNeil, which makes drugs like Tylenol and Motrin, has recalled millions of children's and adult versions of those drugs over the past 10 months.

People are not dumb. They will get medicine where it is safer.

[CNN]

BP offers cheaper gas

cflynn — Thu, 05 Aug 2010 15:13:03 +0000

You might as well call BP Budget Petroleum now. In an effort to help struggling gas stations and appease furious consumers after the Gulf disaster, BP is lowering its gas prices. They are offering a series of incentives to their distributors that could shave two cents off the price of gasoline at the pump.

The question is, does that make you think more or less of BP? Will this make you go to a BP station? Not if you are money savvy and care about your countries wallet. BP has cost the Gulf Coast and this country far more than any 2 cent savings. Most people are just sick of corporations at this point.

They are tired of corporations making the rules in this country and controlling the government. I see the unrest growing daily. BP is going to have to do better than that to buy back any good will.

[CNN]

Playstation, LCD TVs help Sony hit $294 million in profit

cflynn — Thu, 29 Jul 2010 22:30:55 +0000

I've been watching Sony do just about everything right in regards to the consumer and what the consumer wants for awhile now. It is paying off. Sony is back in profit last quarter and raised its full-year earnings forecast, fueled by stronger demand for its PlayStation 3 gaming consoles, personal computers and televisions.

Sony said that it booked a net profit of 25.7 billion yen, or $294 million at current exchange rates, for the April-June quarter. Quite a turnaround from a 37.1 billion yen loss a year earlier. Revenue grew 3.8% to 1.66 trillion yen.

From everything that I have seen, we can expect that trend to continue.

[USAtoday]

Disney buying social gaming developer Playdom

cflynn — Thu, 29 Jul 2010 17:10:55 +0000

In a move that could bring Mickey Mouse into the online gaming world, Walt Disney Co. said it is buying social game developer Playdom Inc. in a deal worth up to $763 million. It makes sense as some Disney game titles have done well in recent years.

Playdom is among the leading makers of online social games, including Social City and Sorority Life, and has an estimated 42 million active players each month. This will allow Disney to strengthen its digital gaming portfolio and allow the company to interact with consumers on Facebook and MySpace. Again, it will also pave the way for bigger and better online Disney games.

[CNN]

Lincoln MKZ Hybrid priced same as gas version

cflynn — Thu, 22 Jul 2010 20:43:13 +0000

In what is likely an industry first, Ford is pricing the new Lincoln's new MKZ Hybrid exactly the same as its gasoline version — $35,180 including destination fees. That's shocking news. We are all used to paying much more for hybrid versions.

Ford's decision will surely entice more buyers to buy the hybrid as a something-for-nothing-extra alternative. It's hard to believe that they will sell many MKZ V-6 gasoline versions now.

The decision to offer the Lincoln MKZ Hybrid and gas models at the same price point is another example of the Lincoln brand's philosophy of bringing luxury standard to customers. From standout product design, and class-leading technology and powertrains that deliver top performance and fuel efficiency, Lincoln is changing the game in the luxury market.

Bold move. Others will surely follow their lead.

[USAtoday]

Newark mayor says No toilet paper for city offices

cflynn — Thu, 22 Jul 2010 20:32:27 +0000

In an attempt to fill a $70 million budget hole, Newark's mayor is taking dramatic action in regards to the town's budget. He is even going so far as to cut toilet paper from the 2010 budget.

The reductions include not buying toilet paper for city offices, cutting the work week to four days for non-uniformed city workers, scrapping city holiday decorations, and closing city pools. These extreme measures, most of which will take effect beginning in August, are expected to save the city between $10 million and $15 million.

The toilet paper makes sense as their costs are horrendous for government bathrooms, mostly because politicians are more full of shit than regular folks like us.

[cnn]