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Vornado Realty begins public stock offering

April 22, 2009 12:08 pm | by The Associated Press | News | Comments

PARAMUS, N.J. (AP) — Real estate investment trust Vornado Realty Trust, which operates office and retail properties, said Wednesday it began a public offering of 15 million common shares priced at $43 a share.Vornado expects the sale will generate net proceeds of $617 million, which the company...

Report: Drug sales down in US, slower elsewhere

April 22, 2009 12:08 pm | by The Associated Press | News | Comments

TRENTON, N.J. (AP) — Pharmaceutical sales, squeezed by the worldwide recession, will increase globally by the slowest rate in a quarter-century and decline in the U.S. this year, according to a new forecast.The forecast by data firm IMS Health is a big sign that an industry long considered...

Miss. court agrees tire, not alcohol caused crash

April 22, 2009 11:48 am | by HOLBROOK MOHR - Associated Press Writer - Associated Press | News | Comments

JACKSON, Miss. (AP) — Three young friends were drinking on a summer night in 2000 when their speeding sports car blew a tire and careered off a rural Mississippi highway, killing one and injuring the other two.The young men's families — and a jury — blamed the accident on a faulty tire on the...

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Magnet-Vacuum Combo

April 22, 2009 11:44 am | Industrial Magnetics, Inc. | Product Releases | Comments

IMI   introduces a new product to the Transporter Family, the Transporter MV.

Silicon Valley grows latest Calif. political class

April 22, 2009 11:22 am | by JULIET WILLIAMS - Associated Press Writer - Associated Press | News | Comments

SACRAMENTO, Calif. (AP) — Silicon Valley, the nation's center of high-tech innovation, is exporting a new kind of product — frustrated former CEOs leaping from the boardroom to politics with promises to return economic luster to the Golden State.Three Silicon Valley heavyweights are competing for...

Head of Anheuser-Busch InBev in China resigns

April 22, 2009 11:17 am | by The Associated Press | News | Comments

BRUSSELS (AP) — The head of brewing giant Anheuser-Busch InBev in China has resigned, the world's largest brewer said Wednesday.YR Cheng resigned for personal reasons as head of Anheuser-Busch InBev China, according to a statement from the Belgium-based company. The company said Cheng worked for...

Boeing open to split contract on $35B tanker deal

April 22, 2009 11:17 am | by STEPHEN MANNING - AP Business Writer - Associated Press | News | Comments

WASHINGTON (AP) — Boeing Co.'s top defense executive said Wednesday the company will support splitting a $35 billion contract with rival Northrop Grumman Corp. for new Air Force refueling jets if the Pentagon chooses that approach.Defense Secretary Robert Gates plans to try again this summer to...

NYC mayor launches online ad blitz

April 22, 2009 11:12 am | by SARA KUGLER - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — Mayor Michael Bloomberg's campaign ads are already all over television and radio, and now they'll be popping up online as well.Bloomberg campaign officials say the ads are designed to be activated by keywords. That means if a computer user types "Mike Bloomberg environment" into a...

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Penney upgrades 1st-qtr outlook on stronger sales

April 22, 2009 11:07 am | by ANNE D'INNOCENZIO - AP Retail Writer - Associated Press | News | Comments

NEW YORK (AP) — J.C. Penney Co. raised its first-quarter earnings outlook Wednesday, saying business is stabilizing, but the department store chain forecast consumer spending will remain weak this year."(Business) is more predictable," Myron "Mike" Ullman III, Penney's chairman and CEO, told Wall...

Continental posts loss, AirTran makes profit in 1Q

April 22, 2009 11:01 am | by DAVID KOENIG - AP Airlines Writer - Associated Press | News | Comments

DALLAS (AP) — Continental Airlines Inc. posted a smaller loss than expected and AirTran reported a profit as falling fuel prices helped offset a sharp downturn in travel during the first quarter.The results at both airlines Wednesday beat Wall Street's expectations, although Continental's stock...

Congress to hold hearing on cable advertising

April 22, 2009 11:01 am | by The Associated Press | News | Comments

PHILADELPHIA (AP) — Cable operators will sit in the hot seat Thursday as Congress reviews their plans to roll out targeted advertising amid fears that consumer privacy could be infringed if the companies were to track and record viewing habits.The House subcommittee on Communications, Technology...

Chicago Tribune makes latest job cuts

April 22, 2009 10:51 am | by The Associated Press | News | Comments

CHICAGO (AP) — The Chicago Tribune cut 53 jobs on Wednesday as part of a newsroom reorganization designed to help it weather an economic downturn that has forced its parent company to seek Chapter 11 protection from creditors.The latest cuts, announced by Editor Gerould Kern in a staff memo, leave...

Faster Bluetooth chips coming early next year

April 22, 2009 10:41 am | by The Associated Press | News | Comments

NEW YORK (AP) — The next version of the Bluetooth wireless technology is expected to transfer data 10 times faster than the current incarnation. Gadgets using it could be on the market by early next year.The consortium behind the technology, the Bluetooth Special Interest Group, said this week it...

Sources: Pentagon planning new cybercommand

April 22, 2009 10:20 am | by PAULINE JELINEK - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — The Pentagon is planning to create a new military command to focus on cyberspace and protect its computer networks from cyberattacks, U.S. officials said Wednesday.The move comes as the White House is poised to release a broader study on the nation's cybersecurity. Officials in...

GM may skip $1B bond payment due to exchange offer

April 22, 2009 10:20 am | by The Associated Press | News | Comments

DETROIT (AP) — General Motors Corp. may miss a $1 billion bond payment due June 1 if it doesn't complete a debt-for-equity exchange by then, the company said Wednesday.The troubled auto giant plans to make the exchange offer soon to bondholders, perhaps as early as next week. GM has $28 billion in...

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