billy, Meg couldn't sell Palm and so, only its patents. Again, no details on terms. Such is corporate transparency, as transparent as Russian politics.
The researcher said similarly:
A crucial point made by the study is that while mobility has been steady, inequality has been rising. And that has big consequences for the role luck plays in economic outcomes:
The “consequences of the ‘birth lottery’ – the parents to whom a child is born – are larger today than in the past. A useful visual analogy (shown in the figure below) is to envision the income distribution as a ladder, with each percentile representing a different rung. The rungs of the ladder have grown further apart (inequality has increased), but children’s chances of climbing from lower to higher rungs have not changed (rank-based mobility has remained stable).”
BofA probed over trading practices. The Department of Justice and the Commodity Futures Trading Commission have investigated Bank of America (BAC) for possible improper trading by carrying out futures trades for its own purposes before executing large orders for clients. The probes appear to shed light on an FBI bulletin in which the agency said it suspects traders at two unnamed banks of conspiring to manipulate rates on major orders from Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC), and of front running the government-sponsored enterprises (GSEs) in the markets for interest-rate swaps
Static data on Constant Social Mobility is good enough? So, only those kids who scored over 2,100 in SAT got in the top 20 Universities who graduated to populate in the elite ten percenters, unless you are sons and daughters of the rich and powerful, is good enough? May be so.
It is easier to tackle income inequality by mandating living wages instead of allowing corporate America to put their workers in food stamps, medicaid, school meals, section 8 and income tax refunds for work credits/childcare ...
Silicon Valley powers a gain of 11,200 jobs in Bay Area last month
By George Avalos
Posted: 01/24/2014 09:48:09 AM PST | Updated: about 10 hours ago
The Bay Area added more than 11,000 jobs in December, led by a big surge in Santa Clara County and the San Francisco-San Mateo-Marin region that drove the unemployment rates in those two regions to five-year lows, a new report released Friday shows.
FBI warns retailers to expect more hacker attacks
The FBI has discovered about 20 cyberattacks against retailers in the past year similar to the one against Target and has warned companies to prepare for more attempts to breach their systems.
The attack on Target used "memory-parsing" malware that infects point-of-sale (POS) systems such as cash registers and credit-card swiping machines to steal information from tens of millions of cards.
"The accessibility of the malware on underground forums, the affordability of the software and the huge potential profits to be made from retail POS systems in the United States make this type of financially motivated cyber crime attractive to a wide range of actors," the FBI said.
"Everybody we work with in the retail space is scared to death," says a cyber-security consultant. "They don't have a lot of defenses to prepare against these types of attacks."
Microsoft Corporation beats by $0.1, beats on revenue
Microsoft Corporation (MSFT): Q2 EPS of $0.78 beats by $0.10.
Revenue of $24.52B (+14.3% Y/Y) beats by $850M.
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Target Corp. (TGT) said it will end health insurance for part-time employees, joining Trader Joe’s Co., Home Depot Inc. and other retailers that have scaled back benefits in response to changes from Obamacare.
About 10 percent of Target’s part-time employees, defined as those working fewer than 30 hours a week, use the company’s health plans now, according to an announcement posted on the Minneapolis-based company’s website. Target said it would pay $500 to part-timers losing coverage and a consulting firm will help workers sign up for new Obamacare plans.
IBM Reports 2013 Fourth-Quarter and Full-Year Results ARMONK, N.Y.--(BUSINESS WIRE)--January 21, 2014--
-- Diluted EPS:
-- GAAP: $5.73, up 12 percent;
-- Operating (non-GAAP): $6.13, up 14 percent;
-- Net income:
-- GAAP: $6.2 billion, up 6 percent;
-- Operating (non-GAAP): $6.6 billion, up 8 percent;
-- Pre-tax income:
-- GAAP: $7.0 billion, down 11 percent;
-- Operating (non-GAAP): $7.4 billion, down 8 percent;
-- Gross profit margin:
-- GAAP: 51.7 percent, down 0.1 points;
-- Operating (non-GAAP): 52.6 percent, up 0.3 points;
-- Revenue of $27.7 billion, down 5 percent, down 3 percent adjusting for
-- Software, Services and Global Financing each grew, adjusting for
-- Software up 3 percent, up 4 percent adjusting for currency;
-- Services down 2 percent, up 1 percent adjusting for
-- Global Financing revenue flat, up 3 percent adjusting for
-- Systems and Technology revenue declined 26 percent, down 25
percent adjusting for currency;
-- Services backlog of $143 billion, up 2 percent, up 5 percent adjusting
-- Free cash flow of $8.4 billion.
Meanwhile, H-P (HPQ +0.1%) is once more selling Windows 7 PCs to consumers, and isn't shy about targeting users unhappy with Windows 8. "Windows 7--back by popular demand," reads one graphic on H-P's site.
Recent reports indicate Windows 9 (expected in April 2015) will feature the return of the Start menu, along with other major changes relative to Windows 8.
Goldman responds to clients on overvaluation call
Goldman is dealing with some upset clients after its overvaluation call on the S&P 500 last week.
"Most client responses attempted to justify personal expectations for continued multiple expansion in 2014 ... The low interest rate backdrop was the most common client justification for continued P/E expansion." Goldman, however, looks at P/E's vs. real rates over time and finds today's pricey no matter the rate environment.
"Many on the buy-side expect price gains of 10% to 20% this year ... the fact remains that market has rarely traded at a higher P/E outside of the tech bubble, or coming out of recessions when EPS were extremely low."
HP Board Declares Regular Dividend
MARKET WIRE 4:45 AM ET 1/21/2014
PALO ALTO, CA -- 01/21/14 -- The HP board of directors has declared a regular cash dividend of 14.52 cents per share on the company's common stock.
The dividend, the second in HP's fiscal year 2014, is payable on April 2, 2014, to stockholders of record as of the close of business on March 12, 2014.
HP has approximately 1.9 billion shares of common stock outstanding.