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Yahoo (Nasdaq: YHOO) Needs More Than Just a New CEO
The black cloud following Yahoo! Inc. (Nasdaq: YHOO) seems bigger than ever.
Just one day after he was forced to leave the forlorn Internet company for padding his resume, reports surfaced that ex-Yahoo CEO Scott Thompson revealed he has cancer.
According to a report in The Wall Street Journal, citing unnamed sources, Thompson told Yahoo's board and several colleagues of his thyroid cancer before resigning Sunday.
A source told The Journal that Thompson's decision to leave his position at Yahoo was in part influenced by his cancer diagnosis.
News broke last week that Thompson embellished his resume with a degree in computer science, when he actually earned a degree in accounting from a small Massachusetts college.
Thompson was hired in January to replace Carol Bartz, who was fired by phone last September.
In the revolving position at Yahoo, former head of global media Ross Levinsohn has been named interim CEO.
New CEO Boosts YHOO
Levinsohn had a triumphant stretch running Internet services within Rupert Murdoch's media empire at News Corp. before Bartz lured him to Yahoo in 2010. Levinsohn previously ran ad sales for Yahoo's Americas unit.
Yahoo investors applauded the media veteran's appointment. Yahoo shares tacked on 2.2% in premarket trading Monday ahead of a nasty open for U.S. markets.
Levinsohn has significant credentials as a negotiator. Before coming aboard at Yahoo, he had a history of recognizing and acquiring an assortment of digital media companies around the globe. That is a striking comparison to Yahoo's last two CEOs, who had stronger backgrounds in technology than media.
"We view Mr. Levinsohn as well-equipped to lead the organization and to build off the company's core strengths – advertising products and digital media," said Spencer Wang, an analyst with Credit Suisse.
But Yahoo still faces a rocky road ahead.
Popular Investment Decisions Designed to Avoid Financial Crisis Effects
Almost all U.S. households make strategic investment decisions to best protect their hard-earned money.
Yet, as anyone who makes a financial game plan knows, even the most detailed, thorough outlines can fail when real life intervenes.
Just ask the thousands of Americans suffering while tornadoes and flooding continue hammering the U.S. South and Midwest regions, leaving whole towns of people homeless and jobless.
The rising Mississippi River has swept through an area that Missouri Gov. Jay Nixon described as "literally the most productive part of our continent," meaning farmers have watched their only sources of income wash away in floodwaters.
Fed Press Conference: What Do You Think of the Outcome?
The U.S. Federal Reserve today (Wednesday) will hold its first-ever press conference – an extraordinary development that has generated more buzz than typically surrounds a Federal Open Market Committee (FOMC) meeting.
But many wonder, will U.S. Federal Reserve Chairman Ben S. Bernanke deliver clear-cut explanations, or a script of "Fedspeak"?
Bernanke will start the Fed press conference at 2:15 p.m. EDT after the two-day meeting of the Federal Open Market Committee (FOMC). The agenda includes a review of the Fed's economic projections and the FOMC's policy decisions, which will be released in a policy announcement at 12:15 p.m.
Then – the part everyone is really waiting for – Bernanke will field press questions for about 45 minutes.
Even on the Brink of a Government Shutdown, Congress Still Doesn't Get it
At the risk of sounding trite, let me just say that "here we go again."
Overnight budget talks failed to lead to a federal budget agreement, and now we're just a few hours from the first U.S. government shutdown in 15 years. The shutdown could put 800,000 federal employees out of work, while creating a nightmare for U.S. taxpayers who are regular users of government services.
As bad as that all sounds, the shutdown threat isn't the worst thing I see here – not by a longshot.
The worst thing is that – with a $14.2 trillion national debt – the part of the budget the two sides are squabbling over is miniscule. Democrats have agreed to $34.5 billion in spending cuts, while the Republicans have agreed to $39 billion for the fiscal year that ends Sept. 30.
It's a rounding error.To continue reading, please click here...
Long-Term Investing Strategies: The Final Four Ways to Invest in Global Demographic Trends
Stock-market icon Warren Buffett once said that "our favorite holding period is forever."
Clearly, if you want to be a stock-market winner, you need to find profit opportunities that offer a predictable, long-term payoff.
And one of the best ways to do that is to capitalize on global demographic trends.
Three Investments to Consider for Your Retirement Portfolio
Americans used to ride a "three-lane highway" into retirement: a traditional pension, Social Security, and individual savings plans, like 401(k)s.
But the recent economic downturn packed a devastating punch to many 401(k) accounts, U.S. households have dipped into savings to make ends meet, and debt-laden federal, state and local governments will have trouble meeting pension and Social Security obligations.
The 2011 Retirement Confidence Survey released last week by the Employee Benefit Research Institute showed 27% of workers are "not at all confident" about their retirement, up 5% from a year ago.
Special Report: How to Buy Silver
Forecasting prices for anything can be tricky. And a precious-metal commodity such as silver is no exception.
With gold holding the leash on its "lapdog" – silver – the performance of the so-called "yellow metal" holds the key to silver prices in the New Year.
Economic Aftershocks of the Japan Earthquake
The 8.9 magnitude earthquake and resulting tsunami that hit northeastern Japan today (Friday) had an immediate impact on financial markets all over the world. However, the effects of the damage and rebuilding will reverberate through the Japanese economy for months, if not years.
In the immediate aftermath of the earthquake, which struck in midafternoon, factories shut down, railways stopped running and roads, ports and airports closed. Markets remained open, but a lack of power and a disruption of the mobile networks curtailed trading after the temblor struck.
Some of Japan's biggest companies were affected:
- Nissan Motor Co., Ltd. (PINK: NSANY) halted production at four factories in the area hit.
- Toyota Motor Corporation (NYSE ADR: TM) closed two assembly plants and a parts factory.
- And Sony Corporation (NYSE ADR: SNE) closed six factories.
"This is certainly the worst thing that can happen in Japan at the worst time," economist Nouriel Roubini told BloombergTelevision, noting that Japan's deficit is 10% of its gross domestic product (GDP) and repairing the damage from the quake will cost the country tens of billions, if not hundreds of billions of dollars.
Investing in Cotton: With Prices at a New Record, Here's the Move Investors Should Make Now
Cotton prices reached an all-time record yesterday (Monday), due to continued fears that global supplies will far short of the soaring needs in China, which remains the world's biggest consumer and producer. Cotton for May delivery closed at a record $2.1414 a pound in New York, an increase of 1.44 cents, or 0.70%. It earlier […]
Netflix Inc. (Nasdaq: NFLX): The Red Envelope Gets the Green Light From Investors
Netflix Inc. (Nasdaq: NFLX) stock is up more than 300% over the past year, making it a surprise leader in the technology sector and a media darling. And while it may be overvalued, it should continue to perform well throughout the year.
I've long respected Netflix's business model. In fact, I've been a customer for several years now. However, the company's stock has suddenly become very controversial, as many analysts and fund managers think it overpriced and overhyped.
That case is certainly there to be made, considering Netflix has a Price/Earnings (P/E) ratio of about 72.5 – compared to 19 for Apple Inc. (Nasdaq: AAPL).
But here's the deal: Netflix reported a blow-out fourth quarter after the market closed last Wednesday.