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Cisco Systems Buys Webex Communications For $3.2 Billion – Video Of Webex Demo

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(Best Syndication) Cisco Systems announced Thursday a “definitive agreement” to buy WebEx Communications for $3.2 billion. WebEx provides online conferencing and collaboration tools for small and medium business (See Video Demo Below).

Cisco will begin a tender offer for all outstanding shares of WebEx for $57 per share and will assume outstanding share-based awards. The acquisition of WebEx is expected to close in the fourth quarter of Cisco's fiscal year 2007. Cisco says they anticipate this transaction to be neutral to its non-GAAP FY2008 earnings.

Viacom files Lawsuit against Google’s YouTube

Viacom files Lawsuit against Google’s YouTube

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Viacom claims that YouTube has almost 160,000 video clips that are unauthorized and violate the copyright owned by Viacom and claims that these clips have been watched more than 1.5 billion times. Viacom is seeking $1 billion for copyright infringement they are also seeking an injunction to stop YouTube from playing their material on their website.

Google feels that they have not done any harm. According to Information Week report, Google officials said, "We are confident that YouTube has respected the legal rights of copyright holders and believe the courts will agree."

This isn’t the first time that Google has experienced the debate of copyright infringement. Before YouTube, the company also had issues with Google News and Google Book Search.

Starbucks will be launching their own Record Label

Starbucks will be launching their own Record Label

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[Best Syndication] The Starbucks coffeehouse chain is expanding its market and possibly safeguarding their corporate stronghold by launching their own music label.

Starbucks has been dabbling in the entertainment world and are not completely new to the music world. They have already released albums under the Hear Music brand by arranging licensing agreements with songs from other companies.

Starbucks will be signing both well-known and new artists to their label. At this time there have been no artists names confirmed. The announcements for the label artists will likely be made at the official launch date in the next few weeks.

Lenders In Hot Water Over Subprime Lending Practices – Loans To Consumers With A Bad Credit Score A Problem

Lenders In Hot Water Over Subprime Lending Practices – Loans To Consumers With A Bad Credit Score A Problem

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(Best Syndication) The Subprime lending industry has mushroomed over the past decade and now some lenders are in big trouble. The FTC estimated that in 1997 the subprime market was just over $125 billion. A recent estimate places the business at $600 billion.

Loans made to home buyers with spotty credit histories have begun to take their toll on such companies as Novastar Financial Inc. and New Century Financial Corp. According to a report in Business Week, these two companies are the hardest hit. "When we see downturns it is very common for large numbers of originators to no longer be around at the end of the cycle," said Andrew Chow, a portfolio manager at SCM Advisors LLC.

Mortgage Fraud Investigation Plan Unveiled By FBI – Agency To Team Up With Mortgage Bankers Association To Fight Crime

Mortgage Fraud Investigation Plan Unveiled By FBI – Agency To Team Up With Mortgage Bankers Association To Fight Crime

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(Best Syndication) The Federal Bureau of Investigation (FBI) has launched a plan to fight mortgage fraud. There are two types of mortgage fraud. The first is fraud for property where a buyer may lie about his or her income or debt or other information to buy a home. This accounts for about 20 percent of the mortgage fraud, according to the FBI.

The second type of fraud is for profit. There are numerous methods used to scam lenders including property flipping, fake identities, straw buyers, equity skimming and falsified appraisals. Property flipping involves property that is bought and sold several times to increase the value using appraisals. After a succession of sales the loan goes into default and the buyer disappears.

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