News on Yacktman Svc Fund (YACKX)Saturday April 19th 2014
Latest news for Yacktman Svc(YACKX) (See analysis on YACKX)
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Latest business news
Saturday April 19th 2014: Latest financial news from the worldWall Street Week Ahead: Spring fever brings hope for U.S. earnings
By Chuck Mikolajczak NEW YORK (Reuters) - Earnings season shifts into high gear next week, and with nearly one-third of S&P 500 names set to post results, investors hope the news provides a catalyst to buy stocks and leave the market's recent weakness in the dust. Several behemoths, including Apple, the largest U.S. company by market value, as well as Microsoft, McDonald's and AT&T , are due to report earnings. They'll be accompanied by highfliers like Netflix and Facebook, giving the first real cross-section of the state of corporate America as temperatures rise across the country and investors hope to put the cold weather behind them. Strategists will also be looking for clues on how badly China's slowdown hits U.S. corporate results.
Fiat Chrysler strikes deal to produce Jeeps in China
Fiat Chrysler has reached an agreement to start producing Jeep vehicles in China with partner Guangzhou Automobile Group Co , the companies said on Saturday, as Fiat tries to catch up with competitors in a fast-growing market. The plan to produce three new Jeep vehicles in China for the domestic market, through the GAC Fiat joint venture, has received the necessary government approvals, the companies said. GAC Fiat is also considering making a Jeep uniquely designed for China, where the Italian carmaker hopes the successful sport-utility brand can help it make up lost ground behind long-established rivals.
Comcast in talks with Charter over divestitures: source
(Reuters) - Comcast Corp is in talks with Charter Communications over selling or spinning off roughly 3 million subscribers worth approximately $18 billion to $20 billion as part of the divestitures related to its $45.3 billion takeover of Time Warner Cable , according to a source familiar with the matter. The talks center around either a straight sale of 3 million or so subscribers, or the potential creation of a spinoff in which Charter would buy a substantial minority stake, the source added. There may be other options the two companies are discussing, the source said, adding that while the negotiations with Charter are serious, they are still in the early stages and could fall apart. Other cable companies also are interested in Comcast's divested subscribers, according to the source.
Rajaratnam's brother loses bid to dismiss insider trading charges
(This story from April 18 corrects the number of counts the judge called "inconsistent" from four to two in 3rd, 16th and 17th paragraphs) By Nate Raymond NEW YORK (Reuters) - Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, on Friday lost a bid to dismiss some of the insider trading charges leveled against him last year. U.S. District Judge Naomi Reice Buchwald in Manhattan ruled that the indictment adequately alleged the essential elements of the crimes charged. A lawyer for Rajaratnam did not respond to a request for comment. A spokeswoman for Manhattan U.S. Attorney Preet Bharara declined to comment.
VW has agreed budget car concept, design: manager
Volkswagen has agreed the basic concept and design of a budget car for emerging markets, a VW manager told Reuters, nearing the project's completion after a long struggle to meet cost targets for the vehicle. "The concept and design are now in place," Hans Demant, responsible for the so-called budget car project at VW, told Reuters on the eve of the Beijing auto show. "We will produce all components in China." Demant's comments are more upbeat than those of VW brand development chief Heinz-Jakob Neusser who said at last month's Geneva auto show that it was becoming more difficult to hit cost goals for the budget car, adding it made no sense to approve a vehicle that was not meeting in-house targets. VW lacks a strong presence in markets such as India and southeast Asia which are dominated by no-frills models, and without a successful budget car, analysts have questioned whether the group will be able to meet its goal of becoming the world's biggest carmaker by 2018.
Compensation battle rages four years after BP's U.S. oil spill
Four years after the Deepwater Horizon spill, oil is still washing up on the long sandy beaches of Grand Isle, Louisiana, and some islanders are fed up with hearing from BP that the crisis is over. Jules Melancon, the last remaining oyster fisherman on an island dotted with colorful houses on stilts, says he has not found a single oyster alive in his leases in the area since the leak and relies on an onshore oyster nursery to make a living. The British oil major has paid out billions of dollars in compensation under a settlement experts say is unprecedented in its breadth. Some claimants are satisfied, but others are irate that BP is now challenging aspects of the settlement.
Exclusive: Biogen prices hemophilia drug on par with older therapies
Biogen Idec Inc is pricing its newly approved long-acting hemophilia drug, Alprolix, to cost U.S. patients, and insurers, about the same per year as older, less convenient therapies whose price can reach about $300,000 annually. The move could pressure rivals such as Pfizer Inc to lower prices for existing hemophilia treatments, which provide patients with life-saving infusions of a blood clotting agent, according to doctors and industry analysts. Biogen last month won U.S. and Canadian approval for Alprolix to treat hemophilia B, the more rare form of the condition that affects about 4,000 people in the United States and about 25,000 worldwide. "We think we have priced (Alprolix) to create parity with existing therapies on an annual cost of therapy basis," Tony Kingsley, Biogen's head of global commercial operations, told Reuters in a telephone interview.
AMR loses bid to terminate retiree benefits
By Nate Raymond NEW YORK (Reuters) - A U.S. bankruptcy judge largely declined on Friday to rule that former American Airlines parent company AMR Corp had a unilateral right to terminate benefits for nearly 47,000 retirees. U.S. Bankruptcy Judge Sean Lane in New York rejected a motion AMR made in 2012 for a ruling holding that the health and welfare benefits it provided retirees had not vested and could be unilaterally modified. Lane did rule for AMR with regard to some employees, but his ruling was a setback in AMR's bid to shift the program's costs from the company to the retirees, which included both union and non-union employees. "American will review his ruling and consider next steps related to the retiree health and life insurance benefits," said Casey Norton, a spokesman for American Airlines.
Amazon's tax-free European profits drop after IRS clamp-down
By Tom Bergin LONDON (Reuters) - The amount of money Amazon.com Inc reports through a tax-exempt vehicle in Europe has dropped sharply in the past two years, even as European sales jumped, after the U.S. tax authority tightened rules it felt were being abused to shift profits. Amazon minimizes its tax bill by having the U.S. unit which owns its technology licenses lease the rights to re-license the technology to a tax-exempt partnership based in Luxembourg. The Group of 20 leading economies has vowed to crack down on corporate tax avoidance and the practice of shifting profits into low or no tax jurisdictions. Amazon has been a frequent subject of politicians' criticism in Europe over the way it channels all European revenues to Luxembourg where profits can be earned tax free.
Brazilian tycoon Batista investigated for financial crimes: reports
Brazil´s federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering, Brazilian media reported on Friday. If the police probe leads to criminal charges against Batista, it would be yet another major blow for a businessman once hailed as Brazil's model entrepreneur and symbol of its economic success. Batista´s EBX oil, mining and logistics empire, which two years ago was valued at $60 billion, collapsed last year in a mountain of debt and massive filings for bankruptcy protection. A week ago, Brazil's securities commission, CVM, announced that Batista was under investigation for insider trading as chairman of his now-bankrupt oil-producing company Óleo and Gás Participações SA , formerly known as OGX, and its sister company, shipbuilder OSX Brasil SA .
Documents detail another delayed GM recall
DETROIT (AP) — General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according to government documents released Saturday.
Big names among prospective Buffalo Bills buyers
BUFFALO, N.Y. (AP) — Hall of Fame quarterback Jim Kelly is prepared to make a bid to buy the Buffalo Bills. Donald Trump's on board, too.
5 features an Amazon phone might offer
NEW YORK (AP) — A report this week in The Wall Street Journal that Amazon is planning to release a smartphone has prompted industry analysts and technology blogs to muse about what the device might offer.
Health care site flagged in Heartbleed review
WASHINGTON (AP) — People who have accounts on the enrollment website for President Barack Obama's signature health care law are being told to change their passwords following an administration-wide review of the government's vulnerability to the confounding Heartbleed Internet security flaw.
EU official against cutting Russia gas ties
BERLIN (AP) — A senior European Union official says he opposes cutting back gas ties with Russia in the next few years but the bloc should work on diversifying supplies.
Fiat and Chrysler to build 3 Jeep models in China
ROME (AP) — Fiat and Chrysler announced plans Saturday to build three new Jeep models in China for that market, the biggest for the vehicles outside the United States, as they attempt to boost sales in a country where they lag behind their competitors.
Delay won't quell 2014 wrangling over Keystone XL
WASHINGTON (AP) — Democrats sweating this year's elections may be hoping that the Obama administration's latest delay to the proposed Keystone XL pipeline takes a politically fraught issue off the table for the midterms.
Deadline lapses in Peru for illegal gold miners
LIMA, Peru (AP) — The clock has run out for an estimated 40,000 illegal gold miners who had until Saturday to legalize their status in a region of southeastern Peru where fortune-seekers have ravaged rainforests and contaminated rivers. The government's vow to enforce a ban on illegal mining is raising fears of bloody confrontations.
Hawaii is genetically engineered crop flash point
Guinea to cancel BSG Resources-Vale mining rights
CONAKRY, Guinea (AP) — The government of Guinea is planning to revoke the mining rights to one of the largest untapped iron ore deposits in the world, following a watchdog's recommendation.
Why Progressives Should Think Twice About Embracing Uber and Lyft
St. Louis is already a city that has lost so many good-paying blue-collar jobs. Lyft and Uber are part of the Walmartization of America: part-time workers earning fast-food wages. These drivers are in a very real sense akin to scab workers, and like the companies they drive for, represent regression and not progression.
Thomas Piketty On 'Capital In The 21st Century'
Economist and author Thomas Piketty sits down with HuffPost DC Bureau Chief Ryan Grim and 'The Other 98%' Communications Director Alexis Goldstein to break down his latest opus on inequality, 'Capital In The 21st Century.'
If You Support Legal Marijuana, Memorize These 13 Stats
Regardless of your feelings about legalizing marijuana, it's hard to deny that legal weed would be a bonanza for cash-strapped states, just as tobacco and alcohol already are. With Colorado and Washington starting to tax and regulate recreational weed sales, and medical marijuana legal in 18 other states, we can finally start to put some hard numbers on the industry's value. Numbers like: $1.53 billion: The amount the national legal marijuana market is worth, according to a Nov. 2013 report from ArcView Market Research, a San Francisco-based investor group focused on the marijuana industry. ...
What Type Of Pot Smoker Are You?
Like snowflakes or THC crystals*, no two pot smokers are truly the same. But even in a group as diverse as marijuana users, certain patterns do emerge. For example, does your pot use lead to endless pontification? You might be what we call the philosopher smoker. Or does your mind wander alone when you're stoned? If so, you're probably more the loner-artist type. Being as it's 4/20 weekend, what better time to discover where you land on the stoner spectrum? Take our quiz below to find out. Quiz widget by *OK, OK, THC crystals tend to look pretty uniform up
Women in Business Q&A: Samantha Nicholson, Co-Founder and SVP of Salmon Social
Samantha is the co-founder and SVP of Salmon Social, a new social media app. Samantha graduated with a degree in advertising from the University of Colorado with a minor in international media. Throughout her college career, she worked with various professionals from advertising agencies including Crispin, Porter + Bogusky and Victors and Spoils. Her senior campaign created for Luna Bar is launching Summer of 2014. After graduation Samantha obtained a job at a Silicon Valley company. ...
Small Business Owners: How Many Missed Taking the Small Business Health Care Tax Credit?
A Kentucky professional who owns his own business found that he missed getting the Health Care Tax Credit. For the past four years! Since the credit is worth 35 percent of what he is paying in health insurance, his business lost out on about $40,000.
5 Lessons Startup Founders Can Learn from Salsa Dancing
Whether you're launching a startup or taking up salsa dancing, you're going to have your work cut out for you. These lessons will come in handy while you're still fumbling around in the dark -- and even help you find your groove.
How Good Do You Want to Be?
I recently picked up a copy of Paul Arden's 2003 book, It's Not How Good You Are, It's How Good You Want to Be. Arden, who died in 2008, was a renowned advertising genius who worked for Saatchi & Saatchi in the U.K. for many years, and had a great sense of humor, strong opinions, and the simple genius to write this straightforward book about how to make the most of yourself.
Encouraging Self-Employment Should Be a Focal Point of the New Small Business Administrator
Our nation's smallest businesses -- the self-employed and micro-businesses -- represent the heart and soul of America's middle class. Yet, America's small businesses face critical challenges that prevent them from opening, growing and expanding.
Is the Stock Market Rigged?
How Marketing Leaders Can Secure a Seat in the C-Suite
"CEOs are from Mars; CMOs are from Venus." That is one of my favorite lines from the former CEO of Eloqua, Joe Payne. And ten years after the birth of marketing automation, there is still plenty CMO turmoil and distrust in the executive suite. The abundance of data, coupled with the accessibility of data, only makes things worse for marketing leaders. What can you do to earn your stripes in the C-suite? Here are some things to consider: Recognize that data is the new black. Just 10 years ago, decisions were driven by the hunches of "the smartest folks
Instagram for Business: Engaging Content Ideas
Creating a Kinder Earth
100 Days to Define Branding
"What is that?" -- or a polite nod -- are common reactions when I explain that over the past eight months I've been working toward my Master's in Branding at the School of Visual Arts (SVA) in New York City. I get it; the word "branding" has become business jargon. It is a misunderstood discipline that is, in fact, more than just the creation of a logo. A brief history of branding: The word brand has Germanic origins and translates as "burn" or "burning." As a verb it means, "mark permanently with a hot iron" and as a noun, a
Three Ways to Be a Game Changer
5 Acronyms Entrepreneurs Can't Afford to Forget
How Not to Waste Money With FaceBook Ads
While contacting companies to help redo our kitchen and bathroom I came across something which I found fascinating yet frustrating at the same time. My husband and I contacted two companies that we already knew of for quotes on our project. They are both companies that are well known in their area and friends and family have all used them. But we wanted a number of quotes from people that carry different products and from different areas and didn't know where to start. I came across one company via Facebook. They showed in my feed as a sponsored post more
The Hiring Guru: Robert Duggan Billionaire
With my constant thirst for more understanding, I decided to begin studying really successful entrepreneurs, like billionaires, and discover their hiring habits, which built such powerful teams and sharing those idiosyncratic advices.
How a Quirky Little Niche Brand Found the Holy Grail of Social Media ROI
Marketers and social media en·thu·si·asts have long chased the dream of being able to calculate traditional ROI (for clients and their C-suite) for spending all that time on Twitter, FB, Youtube et al.
Business Meets Mindfulness at enso/InsightLA Program
Here's a case study you won't find at Wharton or the Harvard Business School. Sid, the wealthy CEO of a highly profitable multi-national corporation, notices that even his best employees have trouble focusing for extended periods of time. Needing to devise a plan to maximize productivity, he heads over to a quiet spot near his favorite river, where he can sit and think clearly without distraction. For hours, Sid watches the ebb and flow of the currents in the river and in his own stream of consciousness. Then, recalling his childhood, he has an "aha" moment. "Dudes," he says to
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