Losses

Sony's Bassackwards PS3 Plan: 'Start Making Money' (SNE) — Sony (SNE) has been going through a rough patch: Sales of the PS3 are down, Bravia HDTV sales are down, and it barely sounds like CEO SIr Howard Stringer is really in control of the company. So what's the recovery plan? Sony Computer Entertainment Europe President David Reeves has an answer: Make money. From Sony's official Playstation site: The most important thing for us as a company in the very short term is for us to start making money. This is a pledge that was made last March and is something that we are still very much on target to... [Tags: ceo, david reeves, hdtv, hope david, losses]

Adolf Merckle — BUSINESS BUZZ: The German billionaire killed himself — by jumping in front of a train — after losing significant money in the current economic meltdown. Forbes estimated his networth in 2008 to be $9.2 billion, but that was before he lost hundreds of millions of euros in the Prosche/VW speculation scandal last fall. Contribute: Add an image, link, video or comment » The Best Links: Facing Losses, German Billionaire Takes Own Life Adolf Merckle Was #44 on Forbes’ 2007 List of Billionaires Merckle’s HeidelbergCement Drops After Adolf Suicide German Mogul Kills Self Over Financial Meltdown... [Tags: adolf merckle, best links, billionaire, business buzz, economic meltdown]

German billionaire commits suicide after VW losses — FRANKFURT (Reuters) - In killing himself German billionaire Adolf Merckle has become the latest casualty of the global financial crisis, his family saying on Tuesday he was broken by the struggle to salvage their business empire.... [Tags: adolf merckle, billionaire, business empire, casualty, frankfurt]

Thousands Of Investors Face Serious Losses Following Madoff Fraud — Investors scrambled to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader. Prosecutors and regulators accused the 70-year-old former chairman of the Nasdaq Stock Market of masterminding a Ponzi scheme of epic proportions through his investment advisory business, which managed at least one hedge fund. Hundreds of people, investing with him through the firm's clients, entrusted Madoff with billions of dollars, industry experts said.... [Tags: advisory business, bernard madoff, billions of dollars, epic proportions, fraud]

SAP: Pacific Crest Cuts Ests; Sees Layoffs Ahead — Pacific Crest’s Brendan Barnicle this morning trimmed his earnings estimates on SAP (SAP), asserting that after a solid start to the fourth quarter, “checks have weakened.” He says that his contacts “are increasingly cautious about SAP’s ability to meet estimates.” Barnicle cuts his Q4 estimates to revenue of 3.5 billion Euros and EPS of 70 Euro cents a share, down from 3.63 billion Euros and 75 Euro cents. For 2009, he goes to 12.3 billion Euros and 1.98 a share, from 12.76 billion and 2.05. He says license revenue in 2009 is likely to decline from 2008. Barnicle also contends... [Tags: brendan barnicle, checks, earnings estimates, economic recovery, eps]

Micron Extends Fall; Barclays Cuts Ests On DRAM Woes — Micron (MU) shares are down again today, after Barclays Capital analyst Tim Luke cut his estimates on the company in the face of continuing weakness in the DRAM market. For the August 2009 fiscal year, Luke now sees MU reporting a loss of $1.36 a share, down from 95 cents previously. For FY 2010, he sees a loss of 7 cents, compared to break-even previously. Luke chopped his price target on the stock to $4, from $6. He keeps his rating at Equal Weight. The estimate cuts come at a time when the global memory sector “remains in a state... [Tags: barclays, barclays capital, dram market, dram prices, equal weight]

Stocks Resume Early Downtrend — Stocks in New York are again trading with losses as traders mull a possible bailout of the automakers and an array of bearish economic reports.... [Tags: array, automakers, bailout, economic reports, losses]

Nokia leans on new N97 as best hope for an iPhone rival — At a special event in Spain, Nokia has revealed the N97, which is just the second touchscreen phone in company history -- and potentially the company's one real chance at reversing market share losses to Apple's iPhone.... [Tags: apple, company history, iphone, losses, market share]

Asian Stocks Tumble; Nikkei Falls 6.4% — Asian stocks declined Tuesday, with the market in Japan tumbling more than 6%, after Wall Street closed with big losses after traders learned the U.S. has been in a recession since December 2007.... [Tags: asian stocks, japan, losses, nikkei, recession]

Stocks Tumble Hard as Recession Fears Become Reality — Stocks in New York continue to taken on hefty losses as the Bureau of Economic Research confirms the U.S. has been in a recession for nearly a year.... [Tags: economic research, losses, recession fears, stocks]

Medion's New GPSs Are Really Secure, Need Your Fingerprints to Navigate [GPS] — Medion's new GoPal GPS units have an unusual extra feature intended as a deterrant for thieves: fingerprint scanners. The GoPal X5535, P5235 and P5435 all have a tiny scanner and will only work when they recognize one of five stored prints, making them useless if stolen. They've all got 5-inch screens, though the P5235 has voice control, the P5435 has Bluetooth and the X5535 has a gyrometer so it can compensate for brief losses of GPS signal by detecting car movements—all three get live traffic updates with Traffic Message Channel. Pretty neat, though leaving your GPS in your car is... [Tags: europe, fingerprint scanners, fingerprints, gopal, gps units]

Stocks Sink Further on Confirmation of a Recession — Stocks in New York are adding to their already sizable losses as the Bureau of Economic Research confirms the U.S. has been in a recession for nearly a year.... [Tags: confirmation, economic research, losses, recession, stocks]

Car Dealerships' Woes Impact Local Governments — The Big Three's financial problems are trickling down to dealerships across the country. Many local governments depend on tax revenues from dealers but are now experiencing huge losses. The city manager of Monroeville, Pa. discusses how failing dealerships are affecting his city's revenues.» E-Mail This     » Add to Del.icio.us... [Tags: car dealerships, e mail, local governments, losses, monroeville pa]

Stocks Mired in Losses — Stocks in New York are trading with hefty losses as investors absorb fresh economic data and look to take profits on gains made during the previous holiday-shortened trading week.... [Tags: economic data, investors, losses, profits, stocks]

Eco Tech: Jet-inspired wind turbines offers more efficiency — Eco Factor: Highly-efficient wind turbine design. FloDesign Wind Turbine has developed a new turbine design that could generate electricity at half the cost of conventional wind turbine. The design has been inspired from jet engines and avoids the wind losses associated with wind turbines. Normally, when wind strikes a turbine, about half of the wind is forced around the blades and the other half is used in electricity generation. FloDesing’s new design uses a shroud that directs air through the blades and speeds it up, eventually increasing its output. This design enables a single turbine to generate as much... [Tags: acre of land, diameter, efficiency, electricity generation, jet engines]

Recession And Children's Health Care – A Revisit — Ten months ago, we wrote this piece because we were concerned about what might be coming down the road. Like hurricanes and pandemics, recessions are inevitable, and preparing for them makes more sense than ignoring them. But how to prepare? Well, knowledge is always relevant. In an attempt to get a better feel for what might happen, we asked What's The Effect Of Recession On The Health Care Safety Net?: That's a question worth mulling over. We know the safety net, though poorly understood, appears stable. Yet we know that even before the recession hits (or hit, as we might... [Tags: bush, economy, health care safety, health insurance, hurricanes]

Bailing on the bailout — Back in September or so I blogged in favor of the $700 billion stimulus package. In those days, now so long ago, I thought, against my otherwise better judgement, that we needed to do something. Now I don’t. Now I think we need to let the train wreck finish happening before we “stimulate” anything. If we even bother at all. I say that for two reasons. First is that nobody knows wtf to do, really. If we do anything. Second is that “doing something” is overrated. For that insight I thank this excellent piece in the Washington Post, by Shankar... [Tags: bailout, bias, bitter debates, economic crises, flail]

Beating Washers Into Wind Turbines — Sure, Iowa's known for corn. But for decades it was a major source of house hold appliances. Industry giants like Amana, Maytag and others supplied much of Americans' demand. Most of the factories are closed now, and the losses hit hard in places like the Amana Colonies, communal villages where ancient German customs are carefully preserved. But Iowa has since taken the lead in the emerging field of wind energy. Some of the same workers who use to make appliances are now busy building wind turbines. They think these jobs will be a lot harder to export. Frank Morris reports... [Tags: amana colonies, communal villages, corn, decades, e mail]

For Panasonic, A Black Friday Indeed; Shares Swoon As Company Cuts FY ‘09 Profit Forecast By 90% — Panasonic (PC) yesterday sharply cut its profit outlook for the company’s March 2009 fiscal year, citing the continuing weakness in consumer demand for electronics. As noted by the Wall Street Journal this morning, Panasonic now sees profit for the year of 30 billion yen, or about $315 million, down from its previous forecast of 310 billion. The Japanese consumer electronics giant cut its revenue outlook to 8.5 trillion yen, from 9.2 trillion. The company also cut its capital spending budget for the year to 480 billion yen, from 530 billion. The WSJ noted that Panasonic attributed the lower estimate to... [Tags: accounting, black friday, consumer electronics giant, economic slump, fiscal year]

Stocks Fumble for Direction — Stocks are trading with slight losses in an abbreviated trading session Friday as may eyes turn to the retail sector and the start of the holiday shopping season.... [Tags: fumble, holiday shopping, losses, retail sector, stocks]