After a bit of recovery in the financial markets since January, the markets returned to fear as recession looms over Wall Street. All U.S. stock markets ended lower on Tuesday after data showed the services sector shrunk in January to the lowest levels since the last U.S. recession. Continued concerns over the credit worthiness of banks may cause Standard & Poor’s to cut bank credit rating if it is forced to cut bond insurers. About the only lone bright spot in the day came after hours when Disney reported greater than expected sales and earnings for its latest quarter. It had strength at its ESPN cable network and its theme park business — and I know who to thank for that. (inside joke)
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The media and entertainment company reported revenue of $10.5 billion for its first quarter, up 9% from a year ago, and beating analysts’ forecasts of $10.04 billion.
Disney reported a net profit of $1.25 billion, or 63 cents per share, down 27% from the same period last year but beating consensus estimates of 52 cents per share. Last year’s results were lifted by gains from asset sales. Excluding those gains, Disney’s earnings for this year’s first quarter rose 29%.
Shares of Disney rose nearly 5% during after-hours trading Tuesday.
Although many areas have important local issues on the ballot … and local officials to elect, the nation is focused on selecting candidates that will run for President in November 2008. To coin a college basketball term … its the “final four.” The Democrats will choose between Senator Barack Obama and Senator Hillary Clinton; the Republicans will choose between Senator John McCain and Mitt Romney. (although I suspect Mike Huckabee and Ron Paul will get a few votes?)
According to most polls I’ve seen, the GOP race is leaning toward the more moderate John McCain. On my blog, I’ve commented a few times recognizing his service to country as a patriot and true American hero; he is a man I respect. That said, there are couple areas where I differ with his positions, but not enough to deter my voting for him. As for the two running as Democrats, its good that I can’t for for them as neither is all that attractive to me — in fact one actually makes me quite ill! If you are undecided as to who might make the best Democratic candidate, just watch “Hillary the Movie” trailer clip below before you go to the polls.
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A trend in recent years when eating out at a restaurant is to offer a wedge of lemon with your water. I’ve often thought its was a nice touch and have enjoyed both seeing and tasting the lemon on the edge of my ice water glass … but I might think again after seeing a report by HealthInspections.com. The restaurant inspection website has a web video clip (below) that reported on lemon wedges in 21 restaurants. The investigation turned up micro-organisms in 77% of all the wedges tested by micro biologist Anne Loving. She reported that both the rind of the lemon and insides often contained unhealthy organisms such as fecal bacteria or other disease causing micro-organisms. She noted that bacteria can come from a variety of places and mentioned the hands of workers, cutting boards and knives used in cutting the lemons. Perhaps we will all think twice before opting for that wedge of lemon with our glass of ice water?
What would a post be on Superbowl Sunday without at least a mention in my blog. Although logic tells me that the undefeated and experienced New England Patriots will win, I’m like 70% of the football fans in this country wanting to see the New York Giants Superbowl champs. The Giants have been an underdog team most of the year and have had most everything tip their way in the second half of the season. As I post during the halftime show, its a much more defensive and slow game than most predicted — New England 7 and New York 3. Speaking of halftime shows, Tom Petty and the Heartbreakers was a great choice as they appeal to a wide audience. I’m ready for the second half and waiting for a bit more offense. EDIT 2/3/2008 10:05PM: A definite nail biter — Giants upset the Pats perfect season by winning Superbowl 42 by a score of 17 – 14 in the final minute. An outstanding second half and most exciting finish.
The PBS television This Old House will be broadcasting a series on rebuilding in New Orleans. The long running home remodeling program offers up a glimpse at how a few areas are rebuilding and are returning; they’ll do it with a look at the unique architecture and at the resilient people who call New Orleans home. The introductory episode airing early in 2008 took a look at the project spearheaded by Harry Connick Jr. and Branford Marsalis known as Musicians Village. It is a project which has partnered with Habitat for Humanity International and New Orleans Area Habitat for Humanity to create a neighborhood of homes for the areas musical talent. The area has deep roots in music and this heritage is one of the reasons many people visit the city — see the video clip below.
The This Old House television program will spend much of the 2008 season following the rebuilding an 1892 “shotgun” style home in the historic Lower Ninth Ward. The owner Rashida Ferdinand purchased the home as a remodeling project in 2004 just before Katrina. It looks to be an interesting year both on the program and by watching the project move along online. (See the webcam)
Big news in the technology world as Microsoft (MSFT) made a bid to bring Yahoo (YHOO) into the Mr. Softy stable. The huge 44.6 Billion dollar bid would help these two companies attempt to reign in the dominate online giant Google (GOOG). The deal would pay Yahoo shareholders $31 a share, which represents a 62% premium from where Yahoo stock closed on Thursday. (half cash, half stock bid) The share price improvement would bring Yahoo share prices back to their 52 week November 2007 highs just a couple months ago. Steve Ballmer, Microsoft’s chief executive, called the move the “next major milestone” for the software giant and said that they “are very, very confident this is the right path for Microsoft and for Yahoo.” The talks between Microsoft and Yahoo have been going on for well over a year now and this new bid will be “carefully and promptly” evaluated according to a statement from Yahoo’s board.
The new smaller Mercedes SUV was shown in concept form at the 2008 Detroit Auto Show and is close to production – “possibly by the year’s end,” according to Joe Wiesenfelder at the Cars.com Kicking Tires Blog. This smaller Benz will join the full size GL and M series SUV already in production and more importantly already receiving the 3.0L diesel engine here in the U.S.
The GLK Freeside concept at the show had the BlueTec diesel which has both a particulate filter and urea injection making it the cleanest of the bunch. Beside offering 30% better efficiency than a gasoline powered version, the high torque diesel in this smaller package will give luxury nameplate buyers one more option. I’ve yet to see a price indicated, but since the larger M and GL start just over $50K, I assume the new GLK would have to be below them?
Several Volkswagen fans have asked what I know about the VW Taro pickup truck that is suppose to be in Europe next year — I don’t know much, but did see a post in LeftLaneNews yesterday. From what they are saying, there are two possibilities: 1) the VW Taro will be a rebadged Toyota Hilux pickup (above), or 2) it will be a new VW model and the Taro body is just a disguise? (See Pickuptruck.com)
Senator John McCain of Arizona edged out Gov. Mitt Romney to win Florida’s Republican primary Tuesday night, moving one step closer to the all important 24-state Super Tuesday contest on February 5th. The must win Florida campaign of Rudy Giuliani was well behind in third (followed by Huckabee), triggering the end of the Giuliani campaign. He graciously resigned, although many expect that he will endorse John McCain before the GOP frontrunners meet in California.
As for Democrats, they were not campaigning in Florida, but that didn’t stop the voters — they cast they votes handily for Senator Hillary Clinton. She easily grabbed half of all the Democrat votes leaving Senator Obama a distant second. Its an interesting primary season.
While I’m trying to repair my blog site, I’ll take a moment to include the final State of the Union address from President George W. Bush … personally I think it was one of his best speeches.
After a bit of recovery in the financial markets since January, the markets returned to fear as recession looms over Wall Street. All U.S. stock markets ended lower on Tuesday after data showed the services sector shrunk in January to the lowest levels since the last U.S. recession. Continued concerns over the credit worthiness of banks may cause Standard & Poor’s to cut bank credit rating if it is forced to cut bond insurers. About the only lone bright spot in the day came after hours when Disney reported greater than expected sales and earnings for its latest quarter. It had strength at its ESPN cable network and its theme park business — and I know who to thank for that. (inside joke)
Although many areas have important local issues on the ballot … and local officials to elect, the nation is focused on selecting candidates that will run for President in November 2008. To coin a college basketball term … its the “final four.” The Democrats will choose between 
The restaurant inspection website has a web video clip (below) that reported on lemon wedges in 21 restaurants. The investigation turned up micro-organisms in 77% of all the wedges tested by micro biologist Anne Loving. She reported that both the rind of the lemon and insides often contained unhealthy organisms such as fecal bacteria or other disease causing micro-organisms. She noted that bacteria can come from a variety of places and mentioned the hands of workers, cutting boards and knives used in cutting the lemons. Perhaps we will all think twice before opting for that wedge of lemon with our glass of ice water?
What would a post be on Superbowl Sunday without at least a mention in my blog. Although logic tells me that the undefeated and experienced New England Patriots will win, I’m like 70% of the football fans in this country wanting to see the New York Giants Superbowl champs. The Giants have been an underdog team most of the year and have had most everything tip their way in the second half of the season. As I post during the halftime show, its a much more defensive and slow game than most predicted — New England 7 and New York 3. Speaking of halftime shows, 
The 
The introductory episode airing early in 2008 took a look at the project spearheaded by Harry Connick Jr. and Branford Marsalis known as 
The new smaller Mercedes SUV was shown in concept form at the 2008 Detroit Auto Show and is close to production – “possibly by the year’s end,” according to Joe Wiesenfelder at the 
The GLK Freeside concept at the show had the 
Senator John McCain of Arizona edged out Gov. Mitt Romney to win Florida’s Republican primary Tuesday night, moving one step closer to the all important 24-state Super Tuesday contest on February 5th. The must win Florida campaign of Rudy Giuliani was well behind in third (followed by Huckabee), triggering the end of the Giuliani campaign. He graciously resigned, although many expect that he will endorse John McCain before the GOP frontrunners meet in California. 