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Fed President Says Sub-Prime Mortgage Damage Contained – Fisher Does Not Think Regulation Is Needed

Fed President Says Sub-Prime Mortgage Damage Contained – Fisher Does Not Think Regulation Is Needed

Richard Fisher

(Best Syndication) Federal Reserve Bank of Dallas President Richard Fisher said damage from the U.S. subprime mortgage market is mostly contained. Fisher said the “Perceptions of risk lie in the eye of the beholder,” and suggested that the temporary problems in the subprime mortgage industry should not “detract from the essential value of, need for and virtues of risk taking.”

Fisher compared today’s situation with similar historical situations, saying that in today’s dollars, a barrel of oil in the 1980’s would be approaching $80. “The assumption of permanently high—or permanently rising—prices in an asset class—in this case, oil—invariably leads to regrettable decisions,” Fisher said. The falling price of oil led to a “slowdown in the region’s most energy-sensitive areas, such as Houston.”

Circuit City Announces 4th Quarter Losses Of $12.2 million – Flat Panel TVs Drop In Price Partially To Blame - Microsoft Vista

Circuit City Announces 4th Quarter Losses Of $12.2 million – Flat Panel TVs Drop In Price Partially To Blame - Microsoft Vista

New Store Design

(Best Syndication) On Wednesday Circuit City Stores Inc. announced that they lost $12.2 million in the fourth quarter ending February 28th. The company says that they were hurt by slower sales growth due to the falling prices of flat panel televisions. Circuit City also took charges due to store closures.

The company is the number two consumer electronics retailer behind Best Buy Co. Inc. Circuit City says they lost 7 cents per share. A year ago the company announced a profit of $141.4 million, or 81 cents a share. But this latest period included pretax charges of $144.6 million.

Chrysler Sale May Be In Works – Dieter Zetsche Admits To Talks But Discloses Few Details

Chrysler Sale May Be In Works – Dieter Zetsche Admits To Talks But Discloses Few Details

Auburn Hills Headquarters

(Best Syndication) DaimlerChrysler CEO Dieter Zetsche said that the company has been talking to potential buyers who had a “clear interest” in buying the Chrysler division, however he did not mention any names. Zetsche would not offer any details of the discussions.

His comments were made at the shareholder meeting in Berlin where an estimated 8,000 shareholders were in attendance. Zetche said “In this context, I can confirm that we are talking with some of the potential partners who have shown a clear interest.”

Some German shareholders expressed concern for DaimlerChrysler's management. "If Chrysler is finally led before the divorce court judge, we would be very grateful," said Henning Gebhardt, head of German equities for Deutsche Bank fund management arm DWS. Reuters reported that Gebhardt said "But what happens if you don't find a new bridegroom or if he demands an inappropriately high dowry?”

DownLoad HD Movie In One Second - IBM Unveils 160 Gigabit per Second Optical Chip Set At Anaheim Fiber Optic Conference

DownLoad HD Movie In One Second - IBM Unveils 160 Gigabit per Second Optical Chip Set At Anaheim Fiber Optic Conference

Smaller Than Dime

(Best Syndication) Anaheim CA - IBM scientists announced a prototype optical transceiver chipset at the 2007 Optical Fiber Conference in Anaheim California on Monday. The new chipset is capable of reaching speeds at least eight times faster than the optical components available today, according to the company.

The chipset will move information at a rate of 160 Gigabits per second (or 160 billion bits of information in a single second). This breakthrough technology may allow for a lightning fast one second download of a high definition feature-length film. Compare this to 30 minutes or longer with current technology.

Optical technology uses light pulses rather than electrons. The idea is to combine this technology with fiber-optic cable technology to provide a “new era of high-speed connectivity that will transform communications, computing and entertainment.”

Paul McCartney Jumps Ship to Starbuck’s new Record Label

Paul McCartney Jumps Ship to Starbuck’s new Record Label

All the Best - Paul McCartney

Starbucks Coffee Company recently announced that they were venturing further into entertainment by forming their own Hear Music Label, and now have announced their first big name that they have signed, Paul McCartney.

McCartney will be releasing his next album with Starbucks but at this time there is not been named. It is expected to be released later this year and should be distributed in most retail outlets.

Starbucks is partnering with Concord Music Group in this new venture. Concord will handle the marketing, promotion, and distribution of the Hear Music Label’s products outside of the coffeehouses.

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