Archive for February 15th, 2008

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Small business people don’t travel without laptops. On July 24, 2006, the United Says Court of Appeals for the Ninth Circuit decided that US Customs and Border Patrol Officers had the right to search and seize a person’s laptop computer, personal discs and other electronic media (iPods and more). Personal and proprietary data is at risk, as is your notebook itself (some are not returned). The EFF has recently filed a suit demanding that Homeland Security disclose information on why it chooses to inspect some laptops and other electronic devices at the borders. On the government side is the argument that these search and seizures are aimed at and are helping prevent child pornography.

Most extraordinary to laptop owners is that the number of searches is increasing but intelligible reasons for the searches remains nearly nil. If your machine is searched, expect no justification or details on what they were looking for or what they downloaded. Rummaging through a computer’s hard drive, the government states, is no different than looking through a suitcase.

According to ComputerWorld, border agents need no evidence to seize your notebook computer, can search anything and can keep your machine for days or weeks or more. How can a small business owner who likely keeps a lifetime of work on a notebook travel safely anymore?

Continue reading Extreme Notebook Makeover - Protecting your notebook from random searches

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Alicia Marie (left) and Maurice Edwards inspect appliances with Marki Lemons. (Tribune photo / Candice C. Cusic)

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Rising fuel prices hit inflation. Pension warning for non-savers. Microsoft locks horns with Google. Freight companies in fuel duty lobby. Yahoo! snubs Microsoft bid. SocGen

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Feb 1 12:58 PM: VH1, VH1 Soul, VH1 Classic and MHD Celebrate Black History Month With Exclusive Programming and New Promotional Campaigns - (PR Newswire)

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Regions Financial names former Wachovia exec Irene Esteves to replace CNBC - was senior vice president and chief financial officer of Wachovia Corp.’s capital management

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Applications for U.S. home mortgages jumped for a third consecutive week as plunging interest rates encouraged more homeowners to seek refinancings, an industry group stated on

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Money Halifax survey reveals affordability difficulties for home buyers, particularly in southern England

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Tomorrow — Valentine’s Day — is one of the most popular days of the year to pop the large question, followed by Christmas Day and New Year’s Eve.

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Microsoft (NASDAQ: MSFT) is sick of losing money at its on the web unit. It has replaced the head of the operation, Steve Berkowitz, with the head of the aQuantive ad company that the software company bought last year. Brian McAndrews will take over all responsibilities for the unit as it prepares to possibly merge with Yahoo! (NASDAQ: YHOO).

According to Reuters, “McAndrews will likely be in a top leadership position in the combined Microsoft-Yahoo, should the Web pioneer accept Microsoft’s $41.8 billion buyout offer.”

It is telling that an ad executive, who did not begin his career in Redmond, will take over. Microsoft hopes that an outsider might win over employees from Yahoo! if that deal goes though. There is bitterness between Yahoo! and current Microsoft staff after years of fighting one another.

But that action could be short-sighted. Programmers and management from within Microsoft’s on the internet operation may feel that Yahoo! is being treated with kid gloves. The executives and programmers at Microsoft’s unit have spent years trying to turn it around.

Now they get to play second fiddle.

Douglas A. McIntyre is an editor at 247wallst.com.

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Continental (NYSE: CAL) closed at $28.70 Thursday.

CAL and United Airlines (NYSE: UAUA) are in advanced negotiations and could complete a combination swiftly if Delta (NYSE: DAL) and Northwest Airlines (NYSE: NWA) strike a deal, states Dow Jones.

WTI Crude oil is recently up .12% to $95.57 according to Bloomberg.

CAL March option implied volatility of 71 is above its 26-week average of 58 according to Track Data, suggesting more massive price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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Pay the break-up fee. Don’t make that next LBO loan. That’s what many legal advisers are telling the largest banks. Better to pay out the fee than take on loans which could lose a significant portion of their value and could lead to more massive write-offs.

A partner at a huge private equity firm told the FT, “The banks have so many issues with their balance sheets that they are considering a new policy.”

The idea may sound good, but it isn’t.. If banks walk, they could face shareholder suits from owners of the companies which have been stiffed in the LBO process. But, more importantly, the action would drive a wedge between banks and their massive corporate clients that could last for years. Corporate banking profits go well beyond providing buyout loans.

Acting in bad faith with one of the biggest customer bases at big banks may save money now, but is the alienation of corporate customers worth it?

Douglas A. McIntyre is an editor a 247wallst.com.

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Several large publishers will set up a joint ad sales operation in the hopes of getting more revenue for their on the web businesses. According to The Wall Street Journal, “Gannett (NYSE: GCI)., Hearst Corp., the New York Times NYSE: NYT). and Tribune Co. are setting up the network as a stand-alone company called quadrantOne.”

The new operation will have access to funding from the four companies and will cover 120 newspaper websites with a combined 50 million very special users. The new firm won’t sell ads in the New York Times and USA This day which already have huge on the web sales forces.

The venture will likely be a failure. By holding out the two most prized newspaper websites and selling smaller papers to advertisers the quadrantOne is likely to do no superior than the unit Yahoo! (NASDAQ:YHOO) has set-up to sell newspaper ads. While newspaper websites are attracting more readers as people moves away from print products, ad agencies can already purchase inventory from these properties with ease.

The new company may offer “one stop shopping” for online newspaper ad inventory, but it is not inventory that advertisers really want.

Douglas A.. McIntyre is an editor at 247wallst.com.

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Team 7 Investigation: King County Trades Human Brains For Money …
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The Justice Department wants to know why a hedge fund manager at Bear Stearns (NYSE: BSC) was moving his own money out of a fund with subprime mortgage exposure while telling clients that he thought problems at the fund could be managed. According to The Wall Street Journal the same executive as “holding continuing discussions in internal emails with colleagues about the worrisome state of the credit markets, and wondering aloud whether the declines in subprime securities would spell trouble for his funds.”

What this boils down to is that Bear Stearns and other investment banks do not appear to have put their clients interests first. Putting more money into troubled funds would have helped investors but would have hurt the earnings of the Wall St. brokerages.. These firms elected to help themselves.

It is almost certain that many hedge fund managers tied to massive US financial companies saw the subprime market problem coming at least several weeks before their customers found out. Disclosing the information, even at at cost, was a responsibility these executives cannot dodge now.

The hedge fund managers did the wrong thing. Whether they’re successfully prosecuted or not is another matter.

Douglas A. McIntyre is an editor at 247wallst.com.

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