CEOWORLD Magazine

CBS Beats Expectations, lifts its advertising rates

Caroline Mittermair — Fri, 06 Nov 2009 04:09:41 PST

CBS Corp. (CBS.N) posted third quarter net income of $207.6 million, compared to a net loss of $12.46 billion in the same quarter last year. Earnings per share for the period were $0.30, compared to a loss of $18.58 per share in last year period.

Analysts had expected CBS to report a profit of 22 cents a share on a topline of $3.195 billion.

CBS posted a quarterly profit of $207.6 million including one-time charges and benefits that boosted the bottom line by $38.1 million. In the year-ago period, CBS had posted a loss of $12.46 billion due to impairment charges, or a profit of $265.9 million when excluding them.

Despite continued softness in local advertising, Moonves was bullish, saying he expected CBS’ TV advertising to grow this quarter and into 2010. That’s because the company’s marquee asset, the CBS TV network, has gotten off to a solid start for the new season, sparking demand for the network’s commercial time.

Last summer, when CBS sold the bulk of its commercial inventory for the season, the economy was shaky and advertisers held down spending. As a result, CBS did not sell as much ad time in advance as it has in previous years.

Quarterly revenue declined only minimally from $3.38 billion to $3.35 billion. TV unit revenue rose 9%, but TV ad revenue fell 5% amid continued weakness in the local ad market and weaker political ad sales.

CBS is particularly vulnerable to advertising, with about 65 percent of its revenue typically coming from it. But Chief Executive Les Moonves, in a conference call, said he saw better trends in both the economy and advertising. He affirmed the company’s full year profit outlook.

CBS, which is based in New York, posted net income of $208 million, reversing a $12.5 billion loss a year ago in a quarter that was marred by impairment charges.

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German Reinsurance firm Hannover Re swings to profit

Bettina Padurano — Fri, 06 Nov 2009 03:57:50 PST

Hannover Re (HNRGn.DE), Germanyâ€™s second-biggest reinsurer, reported third quarter IFRS group net income of EUR 159.4 million, compared to group net loss of EUR 395.0 million last year. Earnings per share were EUR 1.32, compared to loss per share of EUR 3.27 in the same quarter last year.

Analysts had been expecting a profit of 151 million euros. Gross written premiums in the period rose to 2.42 billion euros from 1.96 billion euros.

CEO Ulrich Wallin said the firm was lifting its profit target for 2009 to at least 5.75 euros a share from the previous target of 5 euros a share and is looking to pay a dividend of at least 2 euros a share. The group said the result was helped by much lower catastrophe losses following “an unremarkable hurricane season.” Catastrophe losses for the first nine months of the year were 198.2 million euros, compared to 444.9 million euros a year earlier.

Net profit was â‚¬159.4 million in the third quarter compared with a net loss of â‚¬395 million a year earlier. Gross premium income rose 23% to â‚¬2.42 billion from â‚¬1.96 billion, boosted by the contribution of the U.S. individual-life-reinsurance portfolio that Hannover Re bought from Bermuda-based reinsurer Scottish Re Group Ltd. in the first quarter.

Hannover Re, has now posted net profit in three consecutive quarters as the financial crisis has eased.

Like rivals Munich Re (MUVGn.DE) and Swiss Re (RUKN.VX), Hannover Re’s third-quarter results were helped by the absence of storms that caused billions of euros in payouts to insurance companies in past years, ravaging reinsurers’ earnings.

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American International Group plans sale of U.S. auto business, 21st Century Insurance, to Zurich Financial Services

Wall St Hedge fund insider-trading scam results arrests- Raj Rajaratnam Galleon Probe

Amarendra Bhushan — Fri, 06 Nov 2009 03:41:38 PST

The FBI has charged 14 people, out of which five have already pleaded guilty, in a case related to the USD 20 million hedge fund insider-trading scam, the largest ever such case in the US.

Besides hedge fund managers, lawyers and corporate insiders, the newly charged persons included former employee of Moody’s Investor Service Deep Shah who has been charged with conspiracy and securities fraud, the FBI said in a statement.

Schottenfeld Group LLC, the firm where three of the people arrested yesterday on insider-trading charges worked, said it was â€œdeeply troubled and shockedâ€ by the allegations against its former employees.

DEFENDANTS IN WALL STREET INSIDER-TRADING CASE

Zvi Goffer network

Zvi Goffer- Schottenfeld Group trader
Emanuel Goffer- Schottenfeld Group trader
David Plate- Schottenfeld Group trader
Craig Drimal- Trader, worked out of Galleon offices
Jason Goldfarb- Attorney in private practice
Michael Kimelman- Lighthouse Financial Group trader

Inside sources allegedly provided information …

Arthur Cutillo- Ropes & Gray attorney
Deep Shah- Moody’s
Ali Hariri- Atheros Communications
Rajiv Goel- Intel
Anil Kumar- Mclinsey & Co.
Robert Moffat- IBM

From which traders allegedly profited

Raj Rajaratnam- Galleon Group
Mark Kurland- New Castle Partners
Danielle Chiesi- New Castle Partners
Ali Far- Spherix Capital
Richard Choo-Beng Lee- Spherix Capital
Steven Fortuna- S2 Capital
Roomy Khan- New York hedge fund consultant
Gautham Shankar- Schottenfeld Group trader

Choo-Beng Lee and Raj Rajaratnam were colleagues almost two decades ago at research firm Needham & Co. Ali Far worked at Rajaratnamâ€™s hedge-fund firm for at least four years. And when Lee and Far opened Spherix Capital LLC in 2007, Rajaratnam invested with them.

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Sri Lankan billionaire and Galleon Management founder Raj Rajaratnam held in hedge funds scam- vast insider trading

Scripps Networks Interactive Snaps Up Travel In Deal with Cox Communications, News Corp loses

Bettina Padurano — Thu, 05 Nov 2009 08:41:55 PST

Scripps Networks Interactive Inc. (NYSE:SNI) plans to buy a controlling stake in the Travel Channel under a deal with Cox Communications Inc (COX.N).

Under the deal announced on Thursday, Scripps will own 65 percent of the Travel Channel and Cox Communications will hold on to the other 35 percent. The deal is expected to be completed by January.

News Corp. (NASDAQ:NWSA) was said to be an aggressive suitor for the Travel Channel, but Scripps ultimately outbid Rupert Murdoch’s media conglomerate.

The financials are as follows: Cox will contribute the Travel Channel, valued at $975 million, and Scripps will ante up $181 million in cash. The partnership will take on $878 million in guaranteed debt, the companies said. Overall, it includes $696 million in net debt.

Launched in 1987, Travel Channel has grown to become one of America’s best known cable television networks, today reaching about 95 million U.S. television households.Â The television network, the cornerstone of Travel Channel Media, supports a growing range of cross-platform initiatives including Internet, mobile and social media applications.Â Cox became sole owner of Travel Channel in 2007.

Since then, distribution grew from 87 million to 95 million homes; international and domestic syndication grew 1300 percent; Travel Channel HD launched, successful new shows such as “Man v. Food” and “Ghost Adventures Live” delivered coveted 1.0 ratings; and the network won multiple Emmy Awards for the quality of their programming.

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Toyota Motor back to making profit in latest quarter

Amarendra Bhushan — Thu, 05 Nov 2009 08:29:24 PST

Toyota Motor Corp. (7203.TO), the world’s largest automaker, announced a 21.8 billion yen net profit for the July-September quarter, and cut its forecast loss for the year to 350 billion yen(3.9 billion U.S. dollars) on Thursday.

Toyota now anticipates a net loss of Y200 billion, much narrower than its previous forecast for a Y450 billion loss, as it expects to achieve cost-cuts worth Y1.250 trillion.

An investigation by the American authorities into a possible design flaw involving Toyota floor mats â€” which are suspected of having jammed accelerator pedals â€” has also muddied the picture for Toyota. A recall of the floor mats would affect 3.8 million vehicles, including the companyâ€™s top-selling Camry sedan, and the issue has already battered Toyotaâ€™s reputation for quality and safety.

The latest outlook “reflects booming demand sparked by (government measures) as well as hot sales of hybrid cars,” Yoichiro Ichimaru, a Toyota executive vice president, said at a press conference.

While Toyota’s upgraded forecast comes on the heels of improved fiscal-year projections by almost all major Japanese car makers, its latest estimates suggest a relatively slow recovery compared with rivals Honda Motor Co. and Nissan Motor Co. — both of which expect to return to operating profit this fiscal year.

Toyota still anticipates an operating loss of Y350 billion for this fiscal year compared with its previous projection for an operating loss of Y750 billion.

Ichimaru said he is also wary about a possible dent in demand in after subsidies are terminated in some markets.

“Prospects for markets remain unclear and we need to watch carefully” whether demand will drop again, Ichimaru said.

Toyota has suffered over the last year because the company had expanded its operations before the credit crisis hit Japan after the summer of 2008.

Since then, Toyota has implemented a series of measures to reduce its costs and be more competitive, including closing down plants and, on Wednesday, announcing that it would be withdrawing from Formula One racing.

The figures include sales at truck maker Hino Motors Ltd (7205.T) and compact car maker Daihatsu Motor Co (7262.T), but exclude vehicles made and sold by its joint ventures in China.

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Film’s Sexiest and Hottest Actresses of All Time

Germaine Lombardo — Thu, 05 Nov 2009 07:36:41 PST

Debate between all groups of men has always been who is the top sexy hollywood actress, and it’s been heavily debated since the launch of mass media.

we acknowledge that ’sexiness’ is extremely subjective, but since when has that stopped anyone from offering their opinion? It certainly hasn’t kept us from taking note of the women who have served it up to us over and over again on the silver screen.

Angelina Jolie

Angelina Jolie (born Angelina Jolie Voight; June 4, 1975) is an American actress and Goodwill Ambassador for the UN Refugee Agency. She has received three Golden Globe Awards, two Screen Actors Guild Awards, and an Academy Award. Jolie has promoted humanitarian causes throughout the world, and is noted for her work with refugees through UNHCR. She has been cited as one of the world’s most beautiful women and her off-screen life is widely reported.

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Anna Karina

Anna Karina (born Hanne Karin Blarke Bayer on 22 September 1940) is a Danish film actress, director, and screenwriter.

Karina is known as a muse of the French director, Jean-Luc Godard, one of pioneers of French New Wave. Her notable collaborations with Godard include The Little Soldier (1960), A Woman Is a Woman (1961) and Vivre sa vie (1962). With A Woman Is a Woman, Karina won the Best Actress award at the Berlin Film Festival.

Ali MacGraw

Alice “Ali” MacGraw (born April 1, 1938) is an American actress. She made her Broadway theatre debut in New York City in 2006 as a dysfunctional matriarch in the drama Festen (The Celebration). She was also included in a Seventeen magazine issue for inspiring hairstyles.

Brigitte Bardot

Brigitte Anne-Marie Bardot (born 28 September 1934) is a French animal rights activist and a former actress, fashion model and singer.

In her early life Bardot was an aspiring ballet dancer. She started her acting career in 1952 and after appearing in 16 films became world-famous due to her role in the controversial film And God Created Woman. During her career in show business Bardot starred in 48 films, performed in numerous musical shows, and recorded 80 songs.

Beyonce Knowles

Beyonce Giselle Knowles (born September 4, 1981), often referred to mononymously as Beyonce, is an American R&B singer, songwriter, record producer, actress and model. Born and raised in Houston, Texas, she enrolled in various performing arts schools and was first exposed to singing and dancing competitions as a child. Knowles rose to fame in the late 1990s as the lead singer of the R&B girl group Destiny’s Child. According to Sony, Knowles record and musical DVD sales, when combined with the group, have surpassed 100 million in sales.

Charlotte Rampling

Charlotte Rampling, OBE (born 5 February 1946) is an acclaimed English actress. Her career spans four decades in English-language as well as French and Italian cinema.

Catherine Deneuve

Catherine Deneuve, born 22 October 1943) is a French actress. She gained recognition for her portrayal of beautiful ice maidens for various directors, including Luis Bunuel and Roman Polanski. Deneuve won two Cesar Awards for her performances in Le Dernier Metro (1980) and Indochine (1992). She has also received BAFTA and Academy Award nominations for Best Actress. In 2008, she appeared in her 100th film, A Christmas Tale.

Catherine Zeta-Jones

Catherine Zeta Jones (born 25 September 1969) is a Welsh actress, currently based in the United States. She began her career on stage at an early age. After starring in a number of UK and US television films and small roles in films, she came to prominence with roles in Hollywood movies such as The Phantom, The Mask of Zorro, and Entrapment in the late 1990s. She won an Academy Award, BAFTA Award and a Screen Actors Guild Award and was nominated for a Golden Globe Award for portraying Velma Kelly in the 2002 film adaptation of Chicago.

Eva Green

Eva Gaelle Green (born 5 July 1980) is a French actress, raised in Paris and living partly in London. She has been noted by Vogue for her “killer looks, intelligence and modesty”, and described by The Independent as “gothic, quirky, and sexy”.

Eva Mendes

Eva Mendes (born March 5, 1974) is an American actress. She began acting in the late 1990s, and became known after a series of roles in several major Hollywood films, including 2 Fast 2 Furious, Hitch, Training Day, We Own the Night and The Spirit.

Halle Berry

Halle Berry (born August 14, 1966) is an American actress, former fashion model, and beauty queen. Berry received an Emmy, Golden Globe, SAG, and an NAACP Image award for Introducing Dorothy Dandridge and won an Academy Award for Best Actress and was also nominated for a BAFTA Award in 2001 for her performance in Monster’s Ball, becoming the first and, as of 2009, only woman of African American descent to have won the award for Best Actress.

Jean Seberg

Jean Dorothy Seberg (November 13, 1938 â€“ August 30, 1979) was an American actress. She starred in 37 films in Hollywood and in France. Seberg became even more of an icon after her roles in numerous French films and the tragedy of her turbulent life and eventual probable suicide.

Jacqueline Bisset

Jacqueline Bisset (born 13 September 1944) is a British actress. She has been nominated for four Golden Globe Awards and an Emmy Award. Her popular films include Bullitt (1968), Airport (1970), The Deep (1977), and Class (1983). In more recent years, she has appeared in several television productions, most notably the FX series Nip/Tuck in 2006.

Jessica Alba

Jessica Marie Alba (born April 28, 1981) is an American television and film actress. She began her television and movie appearances at age 13 in Camp Nowhere and The Secret World of Alex Mack (1994). Alba rose to prominence as the lead actress in the television series Dark Angel (2000â€“2002).

Julie Christie

Julie Frances Christie (born 14 April 1941) is a British actress. A pop icon of the “swinging London” era of the 1960s, she has won the Academy Award, Golden Globe, BAFTA, and Screen Actors Guild Awards.

Julianne Moore

Julianne Moore (born December 3, 1960) is an American actress. She began her acting career in 1983 in minor roles, before joining the cast of the soap opera, As the World Turns, for which she won a Daytime Emmy Award in 1988.

Jane Russell

Jane Russell (born June 21, 1921) is an American film actress. n 1940, Russell was signed to a seven-year contract by film mogul Howard Hughes and made her motion picture debut in The Outlaw (1943), a story about Billy the Kid that went to great lengths to showcase her voluptuous figure.

Julia Fiona Roberts

Julia Fiona Roberts (born October 28, 1967) is an American actress. She became well known during the early 1990s after starring in the romantic comedy Pretty Woman opposite Richard Gere, which grossed $463 million worldwide. After receiving Academy Award nominations for Steel Magnolias in 1990 and Pretty Woman in 1991, she won the Academy Award for Best Actress in 2001 for her performance in Erin Brockovich. Her films, which also include romantic comedies such as My Best Friend’s Wedding, Mystic Pizza, Notting Hill, Runaway Bride, and crime films such as The Pelican Brief and Ocean’s Eleven and Twelve have collectively brought box office receipts of over $2 billion, making her the most successful actress in terms of box office receipts.

Ludivine Sagnier

Ludivine Sagnier (born July 3, 1979) is a French actress and model, who has worked in 33 movies since 1989. She was nominated two Cesar Awards for Best Supporting Actress in Swimming Pool (2003) and Un secret (2007).

Lisa Bonet

Lisa Michelle Bonet (born November 16, 1967) is an American actress. She is best known for portraying the character of Denise Huxtable on The Cosby Show and its spinoff A Different World.

Lena Olin

Lena Maria Jonna Olin (born March 22, 1955) is a Swedish actress. In May 2005, Olin returned to Alias for a two-episode appearance at the end of the show’s fourth season, and subsequently appeared again in the fifth season, initially in a cameo in December 2005, and then following a four-month hiatus she appeared again in April 2006, and for the finale on May 22, 2006. Upcoming projects are films The Devil You Know and Daughter of the Queen of Sheba (which is to be directed by Hallstrom). Olin had a small but significant role in 2008’s Oscar-nominated film, The Reader.

Karen Allen

Karen Jane Allen (born October 5, 1951) is an American actress, best known for her role as Marion Ravenwood in Raiders of the Lost Ark (1981) and Indiana Jones and the Kingdom of the Crystal Skull (2008). Allen has also had roles in films including National Lampoon’s Animal House (1978), The Wanderers (1979), Split Image (1982), Starman (1984), Scrooged (1988), The Sandlot (1993), Poster Boy (2004) and Indiana Jones and the Kingdom of the Crystal Skull (2008).

Melanie Griffith

Melanie Griffith (born August 9, 1957) is an American actress. She is an Academy Award nominee and Golden Globe winner for her performance in the 1988 film Working Girl. She is the daughter of actress Tippi Hedren, and the wife of actor Antonio Banderas.

Michelle Pfeiffer

Michelle Marie Pfeiffer (born April 29, 1958) is an American actress. She made her screen debut in 1980, but first garnered mainstream attention with her appearance in Scarface (1983). She rose to prominence during the late 1980s and early 1990s, during which time she gave a series of critically-acclaimed performances in the films Dangerous Liaisons (1988), Married to the Mob (1988), The Fabulous Baker Boys (1989), The Russia House (1990), Frankie and Johnny (1991), Love Field (1992), and The Age of Innocence (1993), as well as appearing as Catwoman, the feline villainess of Batman Returns (1992).

Marilyn Monroe

Marilyn Monroe (June 1, 1926 â€“ August 5, 1962), born Norma Jeane Mortenson, but baptized Norma Jeane Baker, was an American actress, singer and model.

Miranda Otto

Miranda Otto (born 16 December 1967) is an Australian actress. The daughter of actors Barry and Lindsay Otto and the sister of Gracie Otto, she began acting at age nineteen, and has performed in a variety of low-budget and major studio films.

Michelle Rodriguez

Mayte Michelle Rodriguez (born July 12, 1978), better known as Michelle Rodriguez, is an American actress, mostly known for playing tough-girl roles and starring in Hollywood blockbusters such as The Fast & the Furious, Resident Evil, and S.W.A.T. as well as her role as Ana Lucia Cortez in the television series Lost. Recently, she has a role in James Cameron’s latest film, Avatar.

Nastassja Kinski

Nastassja Kinski (born Nastassja Aglaia Nakszynski, born 1961) is a German actress, who has appeared in more than 60 international movies. Her starring roles include her Golden Globe Award-winning portrayal of the title character in Roman Polanski’s film Tess, her roles in two erotic films (Stay As You Are and Cat People), and her parts in Wim Wenders’ films The Wrong Move, Paris, Texas, and Faraway, So Close!.

Natassia Malthe

Natassia Malthe (born 19 January 1974) is a model and actress. Natassia is the younger of two daughters. Her Norwegian father is a teacher and her Filipino mother is a retired nurse.

Ornella Muti

Ornella Muti (born March 9, 1955) is an Italian actress. She was born in Rome as Francesca Romana Rivelli, to a Neapolitan father and Estonian mother. She has an older sister, Claudia (1951). Muti modeled as a teenager and made her film debut in 1970 in La moglie piu bella (aka The Most Beautiful Wife).

Penelope Cruz

Penelope Cruz Sanchez (born April 28, 1974), better known as Penelope Cruz, is a Spanish actress. She gathered critical acclaim as a young actress for films such as Jamon, Jamon, La Nina de tus ojos, and Belle epoque. She has also starred in several American films such as Blow, Vanilla Sky, and Vicky Cristina Barcelona. She is perhaps best known for her work with acclaimed Spanish director Pedro Almodovar, in Broken Embraces, Volver and All About My Mother.

Raquel Welch

Raquel Welch (born September 5, 1940) is an American actress. Welch was born Jo Raquel Tejada in Chicago, Illinois, the oldest of three children and the daughter of Josephine Sarah (nee Hall) and Armando Carlos Tejada Urquizo.

Sophia Loren

Sophia Loren (born September 20, 1934) is an Italian film actress and an international sex symbol. In 1961, she won an Academy Award for Best Actress for Two Women, becoming the first actor to win an Academy Award for a non-English-speaking performance.

Sienna Miller

Sienna Rose Miller (born 28 December 1981) is an American-born English actress, model, and fashion designer, best known for her roles in G.I. Joe: The Rise of Cobra, Alfie, and Factory Girl.

Scarlett Johansson

Scarlett I. Johansson (born November 22, 1984) is an American actress and singer. Johansson made her film debut in the 1994 film North and was subsequently nominated for the Independent Spirit Award for Best Lead Female for her performance in 1996’s Manny & Lo. Johansson rose to fame with her role in 1998’s The Horse Whisperer and subsequently gained critical acclaim for her breakout performance in Ghost World in 2001, for which she won the Chlotrudis Award for Best Supporting Actress.

Salma hayek

Salma Valgarma Hayek JimÃ©nez (born September 2, 1966) is a Mexican actress, director, and television and film producer. Hayek’s charitable work includes increasing awareness on violence against women and discrimination against immigrants.

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World’s Top Best Executive Luxury Cars

Irina Waqar — Wed, 04 Nov 2009 06:35:40 PST

Car for top executives doesn’t have to be solely about muscle; it can be about features and refinement, elegance and usability too.

Executives are those who have successfully climbed the corporate ladder, their vehicles are expected to reflect this with a bit of posh refinement.

Executive luxury cars are iconic, designed to inspire confidence in those who meet the driver.

For instance, executives demand that their luxury be blended with the best of functionality, most execs have little use for eye candy and frippery.Â Other factors important to executive car buyers are performance, comfort, quality and style.Â Of course, speed and handling are also high on the list of requirements.Â Finally, executive vehicles must incorporate numerous technological innovations, such as hands-free cell phone links and more.

Companies are introducing new cars very quickly so it is been really difficult for the executives to choose between the cars as most of the cars are providing luxury and comfort but the price of cars vary according to their features and the brand.

A majority of the vehicles on this list are based on other platforms, share parts, components, power trains and additional equipment with other vehicles.

see the slideshow >>

Lexus LS 600h

Lexus takes technology and luxury far beyond current standards with its clean and powerful LS 600 hybrid sedan.

Although far from a complete refresh, the 2010 model does sport updates both front and rear, giving the car a much fresher look. Although Lexus has only thus far taken the wraps off the LS hybrid model, the changes are expected to be in line for the entire range.

Jaguar XF

You’ll notice the heartbeat every time you enter the driver’s seat of the new 2009 Jaguar XF sedan.

Designed as rival to the BMW 5-Series and Mercedes E-Class, the XF takes a sportier approach — with a lower roofline and more aggressive stance. It comes standard with fender vents and a bulging hood that add to this perception.

BMW 7 Series

The BMW 7 Series is a line of full-size luxury vehicles produced by the German automaker BMW. here are two models — the 750i and the long-wheelbase 750Li. Both share the same 4.4-liter twin-turbo V8 that produces 400 horsepower and 450 pound-feet of torque. A six-speed automatic is standard.

The BMW 7-Series is the athlete of the super luxury class. A car for those who love to drive, it offers the handling balance of a sport sedan in the body of a luxury cruiser.

Mercedes-Benz S Class

The Mercedes-Benz S-Class is a series of the largest sedans produced by Mercedes-Benz, a division of Daimler AG. The S-Class, a product of nine lines of Mercedes-Benz models dating since the mid-1950s, has ranked as the world’s best-selling luxury flagship sedan.

Audi A8 L

The A8 L is Audi’s flagship of flagships. It’s bigger, more luxurious, and more expensive than the regular A8. It’s also more powerful, thanks to a 6.0 liter W12 engine serving up 450 horsepower at 6200 rpm and 428 pound-feet of torque between 4000 and 4700 rpm.

The A8’s rear seats come standard with heating and electronically adjustable lumbar support. An automatic four-zone heating, ventilating, and air conditioning (HVAC) system is also standard.

Porsche Panamera

The Porsche Panamera (Type number 970) is a four-door, four-seat luxury sedan, which was launched in 2009. It is front-engined with rear wheel drive, with a four-wheel drive version also available.

The Porsche Panamera production model was unveiled at the 13th Auto Shanghai International Automobile Show in Shanghai, China on April 2009.

Chrysler 300

The Chrysler 300 is a full-size sport/luxury sedan which was first shown at the 2003 New York Auto Show as a concept car and first introduced in the spring of 2004 as an early 2005 model, becoming North America’s first mainstream rear-wheel drive sedan with a V6 engine since the 1995 Mazda 929.

Designed by Ralph Gilles, the new 300 was built as a high performance, sporty sedan. The 300C is also sold in Australia, the first large Chrysler sold there since the Valiant was discontinued in 1981.

Pontiac G8

The Pontiac G8 is a rear-wheel drive sedan that was produced by Holden, the Australian General Motors (GM) subsidiary. The G8 was released in 2008 in the United States, and in 2008 for the 2009 model year in Canada. Production stopped in mid-2009, following the GM decision to suspend the Pontiac brand.

Bentley Arnage

The Bentley Arnage is a large luxury car produced by Bentley Motors in Crewe, England from 1998 to 2009. The Arnage, and its Rolls-Royce-branded sibling, the Silver Seraph, were introduced in the Spring of 1998, and were the first entirely new designs for the two marques since 1980.

Cadillac STS

The STS (Seville Touring Sedan) is a mid-size luxury sports sedan / executive car sold by manufactured and sold by Cadillac. SLS (Seville Luxury Sedan) luxury sedan variation of the STS. It is equipped with a six-speed automatic transmission with performance algorithm shifting and driver shift control.

Saab 9-5

The Saab 9-5 is an executive car produced by the Swedish automobile maker Saab. It was introduced in 1997 as the replacement to the Saab 9000 for the 1998 model year.

Despite General Motors’ sale of Saab, a next generation 9-5 built on the GM Epsilon II platform has been presented in September 2009 and is scheduled to go on sale in 2010. In June 2009, photos of the next generation were leaked online before its unveiling at the 2009 International Auto Show in Frankfurt.

Infiniti M35

Infiniti’s first M-series luxury sport sedan debuted four years ago long on quality and performance but lacking the kind of style, roominess and presence that buyers in this competitive segment have come to expect. Following a redesign, however, the M series was reborn as the V6-powered M35 and V8-equipped M45.

The “M” nameplate has been used on various mid-size cars from Infiniti. This includes the M30 Coupe/Convertible, and the M45 and M35 sedans, both of which are unrelated to the M30.

The new M has a design closer to that of the new G37 sedan and coupe, and is inspired by the Infiniti Essence concept car.

Volvo S80

The Volvo S80 is a mid-size executive sedan from Swedish automaker Volvo and was introduced in 1998 as a replacement for the rear-wheel drive Volvo 960/S90 sedan. The Volvo S80 was built at the Torslanda Plant (Torslandaverken) in Gothenburg, Sweden.

New features include a choice of 5-cylinder 2.4L D5 twin turbo diesel, 2.4L diesel, or 1.6L diesel engine. Also the 2.5T and 2.5FT were modified to produce more power and have a lower fuel consumption. The car’s exterior was modified to give the S80 a lower, longer and wider stance. More chrome trim were added to the front, the rear end the doors to look like the S80 Executive.

Lincoln MKS

The Lincoln MKS is a full-size luxury sedan from the Lincoln division of the Ford Motor Company. The MKS first appeared in concept form at the North American International Auto Show in January 2006 with the production version, a 2009 model, appearing later at the Los Angeles International Auto Show in November 2007.

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Societe Generale Third-Quarter Net Doubles on Investment Bank

Steve Gavriliuc — Wed, 04 Nov 2009 03:11:24 PST

France’s second largest bank Societe Generale SA (SOGN.PA) says net profit more than doubled in the third quarter after its investment banking unit returned to profit.

Credit Suisse (CSGN.VX) and Deutsche Bank (DBKGn.DE), SocGen’s investment banking results powered the profit line although debt provisions rose to cover an expected further rise in bad loans in 2010.

Net profit rose to 426 million euros ($623 million) euros from 183 million a year earlier, mainly due to the fact that SocGen’s investment banking arm swung to a profit from a year-earlier loss.

Last week, Credit Agricole (CAGR.PA) — the country’s biggest bank by branches — denied a report in Le Monde that it was considering a merger with SocGenand insurer Groupama.

La Tribune newspaper said on Wednesday that BNP Paribas (BNPP.PA) was looking at SocGen.

Banks rebounded, after steep losses on Tuesday. The DJ STOXX European banking index .SX7P gained 2.1 percent, while Standard Chartered (STAN.L), HSBC (HSBA.L), Barclays (BARC.L), Lloyds (LLOY.L), Royal Bank of Scotland (RBS.L) and Societe Generale (SOGN.PA) were up 1.3 to 4.7 percent.

Miners BHP Billiton (BLT.L), Anglo American (AAL.L), Antofagasta (ANTO.L), Rio Tinto (RIO.L), Xstrata (XTA.L) and Eurasian Natural Resources (ENRC.L) rose 1.5-2.8 percent.

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Delphi Automotive to Name Directors, former Dupont Chief Executive John Krol as chairman

Steve Gavriliuc — Wed, 04 Nov 2009 03:00:15 PST

Delphi Automotive LLP (OTC:DPHIQ) , the auto-parts maker that emerged from a four-year bankruptcy in October, is forming a new board of directors and will name retired E.I. du Pont de Nemours & Company (NYSE:DD)Chief Executive John Krol as its chairman.

Delphi plans to announce seven members of a board that includes a majority of directors with no ties to either former parent General Motors Co (GM.UL) or Delphi’s lenders, the paper said.

Most of operations were sold to a group led by two hedge funds that had acquired its bankruptcy financing during its time in court protection. As part of the deal, the group acquiring Delphi, led by Elliott Management and Silver Point Capital, agreed to forgive $3.4 billion in loans and invest $900 million in capital in the new company.

The other initial independent directors are: Rajiv L. Gupta, former CEO of Rohm & Haas Co.; J. Randall MacDonald, senior vice president for human resources at International Business Machines Corp.; Michael McNamara, CEO of Flextronics International Ltd.; Lawrence A. Zimmerman, vice chairman and chief financial officer of Xerox Corp.; and Sean O. Mahoney, a private financier and a former vice chairman at Deutsche Bank Securities.

GM’s representative is Gary L. Cowger, who is retiring Dec. 1 as its group vice president of global manufacturing and labor relations. The lenders have not yet named a director. One person familiar with the matter said GM and the lenders are likely to name one director each, wsj reported.

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General Motors calling off Opel Vauxhall deal to Magna, Frank Stronach dream dies- less job cut

Thomas Frommherz — Wed, 04 Nov 2009 02:40:12 PST

General Motors (NYSE:GRM) has opted to keep the European business Opel after a year of uncertainty and high-stakes political negotiations.

Now its clear that, GM was never keen on the deal with Canadian Mr. Stronach’s Magna International (TSE:MG.A) and his Russian partner Sberbankâ€“ it was forced into the decision by the Germans with the promise of $6.58 billion in state aid.

The proposed sale to Magna had threatened more than 10,500 jobs across Europe.

But GM said they had decided to keep Vauxhall and European car business Opel and “move forward with restructuring the business”.

Canadian multi-millionaire Frank Stronach’s lifelong dream of owning his own carmaker has been shattered for the second time in two years.

Despite that, GM’s board of directors’ gutsy decision to keep Opel within the corporation is good news for the long-term future of the automaker’s U.S. and European operations. But, returning Opel/Vauxhall to a profit will require thousands of layoffs and possible plant closings.

Tony Woodley, joint leader of Unite, the union, said the decision was “fantastic”, adding: “There is no logic in breaking up the company. I believe it is the right decision for Britain and our plants.”

He called on Lord Mandelson, the Business Secretary, to demand that GM give guarantees about future production.

Germanyâ€™s government estimated job losses of 10,900 under the sale of Opel/Vauxhall to Magna.

Chancellor Angela Merkel’s spokesman, said in a statement early Wednesday that the government expects GM to repay on time EUR1.5 billion in bridge financing meant to keep Opel afloat. That financing is due to expire Nov. 30.

In May, the German government pledged to help fund Opel with EUR4.5 billion, but suggested the financing was meant to support the bid to sell a majority of Opel to Magna and its Russian banking partner, Sberbank (SBER.RS).

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Warren Buffett Berkshire Hathaway to buy Burlington Northern Santa Fe Corp railway

Robert J. Steiner — Tue, 03 Nov 2009 07:52:08 PST

Warren Buffett’sÂ Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) announced a deal to take over railroad operator Burlington Northern Santa Fe Corp (NYSE:BNI). In its largest-ever acquisition, Berkshire Hathaway Inc will pay $26 billion for Burlington Northern Santa Fe Corp.

It would also expand the already massive portfolio of companies Berkshire already owns. Brand-name businesses such as auto insurer Geico, See’s Candy and Fruit of the Loom are all subsidiaries of the Omaha, Neb.-based firm.

If you remember Buffett poured billions into preferred shares of General ElectricÂ (NYSE:GE) and Goldman SachsÂ (NYSE:GS) in late-2008, but have paid off in a big way.

Berkshire Hathaway Inc. already owns a stake of about 22 percent in Burlington Northern, and says it will pay $100 a share for the rest of the company.

In an interview on CNBC, Mr Buffett said that the deal with Burlington Northern came together quickly last week, when he made a proposal to Matthew Rose, the chairman and chief executive of the business. It took Mr Rose just 15 minutes to get approval from his board.

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Stanley Works to buy Black & Decker for $3.46 bln, big job cuts

Steve Gavriliuc — Tue, 03 Nov 2009 04:33:50 PST

Black & Decker Corp.(NYSE:BDK) is merging with The Stanley Works (NYSE:SWK) in a $4.5 billion all-stock deal, the merger will create Stanley Black & Decker, an $8.4 billion company.

Stanley share holders will own about 50.5 percent of the equity of the combined company, with Black & Decker shareholders owning about 49.5 percent.

Moody’s Investors Service said on Monday it may upgrade the ratings of Black & Decker Corp’s (BDK.N) bond and commercial paper and cut the ratings of Stanley Works (SWK.N), due to Stanley’s proposed acquisition of Black & Decker.

Black & Decker CEO Nolan D. Archibald said the companies had discussed a merger three times in the past, starting in the 1980s and then as recently as seven years ago. Those talks, he said, often broke down over who would be in charge.

Stanley Chief Executive Officer John Lundgren said that cost savings would come from business unit and regional consolidation, corporate overhead cuts, and changes to manufacturing, distribution and purchasing practices.

Fewer than 4,000 jobs, or less than 10 percent of total positions at the combined company, will be cut, Stanley Chairman and Chief Executive Officer John Lundgren.

Deutsche Bank and Goldman Sachs advised Stanley’s financial advisers on the deal, while Cravath Swaine & Moore served as legal counsel.

Black & Decker’s advisers were JPMorgan Chase, Hogan & Hartson and Miles & Stockbridge.

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Royal Bank of Scotland- RBS and Lloyds Banking agreed to caps on bankers bonuses, Asset sales

Thomas Frommherz — Tue, 03 Nov 2009 04:16:30 PST

Royal Bank of Scotland (NYSE:RBS) (LON:RBS) and Lloyds Banking Group (NYSE:LYG) (LON:LLOY) said today that they will not pay cash bonuses to any staff earning over Â£39,000 this year.

RBS and Lloyds, which today agreed to take another Â£25.5bn and Â£5.7bn from the Government respectively, have also been forced by the European Union to sell a slew of businesses.

Royal Bank of Scotland- – To sell within the next four years parts of its UK branch and corporate business; RBS Insurance; Global Merchant Services; and its interest in RBS Sempra Commodities.

It includes 318 branches (14 percent of RBS’s UK retail network), 1.7 million retail customers, 230,000 SME customers, about 6,000 staff and 20 billion pounds of assets.

It represents 2 percentage points share of the UK retail market, 5 percentage points of the SME market, and 5 percentage points of the mid-corporate market.

LLOYDS- Disposal of a retail banking business with at least 600 branches, a 4.6 percent current account market share and about 19 percent of the bank’s mortgage balances.

Lloyds will sell the TSB brand; the branches, savings accounts and branch-based mortgages of Cheltenham & Gloucester; the branches and customers of Lloyds TSB Scotland; additional Lloyds TSB branches and customers in England and Wales; and Intelligent Finance.

European bank shares .SX7P fell sharply on Tuesday, hitting a more than two-month low, as poor results from UBS (UBSN.VX) with HSBC (HSBA.L), Deutsche Bank (DBKGn.DE), BNP Paribas (BNPP.PA), Societe Generale (SOGN.PA), Banco Santander (SAN.MC) and Credit Suisse (CSGN.VX) down between 3.1 percent and 5.5 percent.

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Peugeot Citroen and and One Equity Partners- French car parts maker Faurecia to Buy EMCON

Hendrik L Clarke — Mon, 02 Nov 2009 08:37:53 PST

Faurecia SA (EO.FR) (EPED.PA), majority owned by auto giant Peugeot Citroen (UG.FR) (PEUP.PA) , has signed an agreement to acquire EMCON Technologies (originally Arvin Industries), an integrator of emissions control technologies for passenger and commercial vehicles. Based in Troy (Michigan, USA), EMCON Technologies posted 2008 sales of 2.4 billion euros and employs 6,000 people in 19 countries. Once the deal is completed, EMCON Technologies will immediately join Faurecia’s Exhaust Systems to form Faurecia Emissions Control Technologies, the new world leader on this market.

With this acquisition, Faurecia Emissions Control Technologies:

becomes the world leader in emissions control technologies;
boasts a reinforced Research & Innovation potential in new technologies for emissions reduction;
enters the commercial and off-road vehicles market;
broadens its customer base and reinforces its geographical presence.

The development of clean vehicles requires the control and drastic reduction of emissions, a reduction in fuel consumption and lighter vehicles. The new technologies developed by the automotive industry as an answer to these objectives will reinforce the technology and product content, systems and processes, leading to a strong market growth.

The total 2020 market is estimated at 65 billion euros versus 29 billion euros in 2008 for passenger vehicles, experiencing 7% growth per year. The total commercial vehicles market, also growing at 7% per year, is expected to reach 16 billion euros in 2020 (vs. 7 billion euros in 2008).

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Peugeot-Citroen CEO Philippe Varin: Eyeing More Product Cooperation and No Urgency for Asset Disposals

Emirates National Oil Company ENOC to buy remaining Dubai-based Dragon Oil

Germaine Lombardo — Mon, 02 Nov 2009 08:20:53 PST

Dubai-based, Dragon Oil Plc (LON:DGO) (PINK:DRAGF) said it reached an agreement with its majority shareholder Emirates National Oil Company Limited LLC, or ENOC. whereby ENOC will buy the remaining shares of Dragon Oil not owned by it for about GBP 2.357 billion.

Emirates National Oil Company already holds 51.5% of Dragon Oil (DGO.I) (DGO.L), having first acquired a stake in 1998.

The offer price “will provide the minority shareholders of Dragon Oil the opportunity to realize a cash exit at a significant premium of 34% to the closing price of 338 pence per Dragon Oil Share on June 3,” the companies said.

Dragon Oil announced that it had received an approach in relation to a possible offer on June 4.

“The offer from ENOC allows our minority shareholders the opportunity to crystallize cash value at a significant premium to the level at which the company’s shares were trading prior to the ENOC approach” said Nigel McCue, chairman of the independent committee of Dragon Oil.

ENOC is seeking overseas assets to expand into oil and natural-gas production, which made up about 5.5 percent of Dubaiâ€™s $62 billion economy in 2007. Peter Hutton, a London- based analyst at NCB Stockbrokers Ltd., said investors should reject the offer because the financial crisis in the emirate is hampering ENOCâ€™s ability to offer a fair price.

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