One Slice Or Two? You Decide
Well, there you have it. Real proof we are officially heading into a recession.
McDonald’s Corp. will increase the price of its $1 double cheeseburger to $1.19 in December to cover rising costs, ending the sandwich’s run as the top-selling item on the six-year-old dollar menu.
The world’s biggest restaurant company will replace the double cheeseburger with the McDouble. The new sandwich consists of two beef patties and a single slice of cheese, or one slice less than the double, Greg Watson, McDonald’s vice president of U.S. marketing, said today in a telephone interview.
Restaurant operators spend about 6 cents on a slice of cheese, an expense that emerged as the focus of franchisees’ pressure on McDonald’s to raise dollar-menu prices for the first time.
When prices of McDonald’s cheeseburgers rise $.19 because cheese costs 6 centers per slice, you know things are getting bad.
Read the entire article to find out about McDonald’s newest burger, the McDouble. There’s something crazy about a double cheeseburger that only has one slice of cheese. What’s up with that?
Sphere: Related ContentHow Low Can It Go?
Is Microsoft really done with Yahoo?
Microsoft Corp. is no longer interested in buying all of Yahoo Inc., CEO Steve Ballmer said Wednesday, though he told shareholders that the company would still be “very open” to a collaboration on Internet search. His comments sent Yahoo shares diving by 14 percent.
“Let me be clear,” Ballmer said at Microsoft’s annual shareholder meeting. “We are done with all acquisition discussions with Yahoo.”
Maybe it’s just a ploy to get the price even lower so they can come in and gobble them up.
When Microsoft made their original offer, they were willing to pay $33 per share for the company. Now, it’s not even worth $10. Great move on their part rejecting all rumors that they may still be interested. They might be able to get it for $7. What do you think?
Sphere: Related ContentYang Steps Down At Yahoo
People have been calling for Jerry Yang to step down for months. Back when Microsoft made their initial offer to devour Yahoo, some wondered why he didn’t step down then.
Jerry Yang, the chief executive of Yahoo Inc, will step down from his role as soon as the board finds a replacement for the Internet company, Yahoo said on Monday.
Yahoo co-founder Yang, who took on the CEO role in June 2007 in an effort to turn the company around, will return to his former role as Chief Yahoo once a successor has been found.
Now he chooses to step down? How long do you think it will take before Microsoft gobbles up Yahoo now?
Sphere: Related ContentA $7 Billion Slice Of Pie
If Bank of America had not been awarded $15 billion from the federal government, would they have gone through with the investment in CCBC?
They claim they are not funding the purchase with any of the TARP money, and that’s probably true, but I can’t help but think they might not have had $7 billion on hand to make the investment if they didn’t accept $15 billion with the other hand.
Bank of America Corp. will pay about $7 billion to almost double its three-year-old stake in China Construction Bank Corp., three weeks after being awarded $15 billion from the U.S. government to thaw frozen credit markets.
Bank of America, which is buying Merrill Lynch & Co., will boost the stake in China’s No. 2 bank to 19.13 percent from 10.8 percent, the Charlotte, North Carolina-based lender said today. It will buy shares from China SAFE Investments Ltd., a state investment arm that is the Beijing-based bank’s biggest stakeholder.
Bank of America isn’t funding the purchase with proceeds from the government’s Troubled Asset Relief Program, or TARP, said spokesman Scott Silvestri. Merrill received $10 billion through the Treasury’s $250 billion bank-rescue package.
Why didn’t they use their $7 billion to shore up their business first and accept just $8 billion from the government? It doesn’t matter which side it comes from, the pie tastes the same no matter how you slice it.
Sphere: Related ContentThe Best Denial Money Can Buy
I don’t care what your market share is, or how good you are doing compared to your competitors. Your investors are off their rockers if they had no idea you were going to be hit by the economic slowdown.
Best Buy (BBY) terrified investors on Nov. 12 with bad news indeed. The electronics retailer said it sees consumers sharply cutting back their spending. Even worse, the well-respected executives at Best Buy seem to have little idea how bad conditions could get this holiday season.
I believe they call this denial.
Sphere: Related ContentDHL Cuts Thousands Of Jobs
If you were depending on a delivery service that didn’t leave items at your door without knocking, or require your delivery be dropped at a local business, you’re going to be sad today.
German logistics giant Deutsche Post announced Monday it would cut 9,500 jobs at its DHL Express operations in the United States.
Chief Executive Officer Frank Appel said DHL’s domestic air and ground business in the United States would be closed effective Jan. 30.
Unless you are expecting a package from overseas (or shipping one) you aren’t going to see the DHL truck pull up in your driveway anymore.
It’s a shame too, because the DHL guys who have delivered stuff to our house are much more polite with said deliveries, oh, and they don’t leave packages worth hundreds of dollars sitting on my porch without ringing the doorbell).
Sphere: Related ContentThe Tangled Lines Of A Golden Parachute
Isn’t it amazing how this report makes it sound like Fuld is an upstanding, wonderful CEO who is stepping down with no “bonus or severance”? What a nice guy…
Richard Fuld, the chief executive of Lehman Brothers Holdings Inc, will step down by year’s end, and not receive any bonus or severance when he leaves, a company spokesman said on Wednesday.
Fuld, awarded $22 million in compensation in fiscal 2007, has been widely criticized for having done little to save the company from collapse.
I’m not saying Richard Fuld is responsible for any wrongdoing, but ethically, I think he has some serious issues he needs to deal with.
At the end of 2007, he accepted $22 million in compensation. Did he accept that compensation before, or after, he found out that Lehman Brothers was going to be circling the drain in no time?
Now, don’t get me wrong either, I think he should be compensated for the job he did. I just think $22 million in compensation when the company is facing certain bankruptcy is just asinine.
Don’t worry about Richard, his golden parachute isn’t taking him too far. he’ll still be serving as non-management chairman of the board.
Sphere: Related ContentFaulting The Election?
Wait. Two weeks ago, stocks fell. Was that because of the economy or the election? Last week, the same thing happened. Now, the day after the United States of America chose it’s 44th President, stocks are falling because of the economy rather than the historic presidential election?
Stocks fell on Wednesday a as worries about a weakening global economy returned to center stage a day after the historic presidential election .
Stocks earlier pared losses after data that the vast services sector shrank sharply but less than analysts had feared.
Way to spin it guys. Everything until now was the fault of the election. I got it.
Sphere: Related ContentCircuit City Short Circuits
More bad news from the economic front.
Circuit City Stores Inc is closing 155 stores and considering all options to restructure its business as the consumer electronics retailer struggles with a deteriorating liquidity position and tighter credit conditions from vendors.
Circuit City said it would also cut 17 percent of its domestic workforce as part of the store closings.
I read the entire article, and I feel the economic downturn has just hastened the inevitable. The last time I walked into our local Circuit City, the sales staff was rude, the place was too noisy, and the prices were much higher than their competition just half a mile away. It’s no wonder vendors don’t want to work with them, I don’t want to buy from them.
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