Since 1916, Nathan’s has hosted an annual Fourth of July Hot Dog Eating Contest at its Coney Island flagship store.
This year, participants had ten minutes to eat as many Nathan’s hot dogs as possible. The traditional competition ended with a 59 hot dog tie between Joey Chestnut and Takero Kabayshi. The two went into a five dog eat-off in which […]
Who knew that a Swiss investment bank was the one hit hardest by the credit crunch?
UBS has written down over $38 billion since news of the crisis broke last summer and shares of the Swiss bank have lost more than half of their value since the start of this year.
Earlier this week, more negative rumors swirled regarding the […]
H&R Block had its best tax season ever!
The company prepared taxes for over 23.5 million clients, bringing in $3 billion of revenue. The influx of business allowed H&R Block to post a profit of $543 million for their fiscal fourth quarter. This is a huge reversal from last year’s loss of $85 million for the same period.
H&R Block […]
Goldman Sachs picked up right where it left off yesterday by releasing a new set of downgrades.
Today’s bad news is for brokers and the auto industry.
Analysts downgraded shares of Citigroup and added the company to its “conviction sell” list. Other companies recently added to this dubious list include: Boeing, Trina Solar and Logitech International.
Goldman Sachs expects Citi to […]
This week, Citigroup will begin to dismiss roughly 6,500 workers from its investment bank division.
Record write-downs and mounting losses have led Citigroup to engage in several cost cutting measures. The company has lost roughly $15 billion in the past two quarters. The pending job cuts will reduce Citigroup’s investment bank division by about ten percent.
Citigroup released a statement […]
Morgan Stanley is the latest investment bank to post poor earnings.
Revenues were down 38 percent, profits were down 57 percent, and the bright side (if there is one) is that Morgan Stanley was able to turn a profit. For the fourth quarter of last year, the company posted its first loss ever: a whopping $3.6 billion, the result of a $9.4 billion […]
Over the weekend, the Associated Press reported that in the midst of layoffs and rising costs, the median compensation package for chief executives in 2007 amounted to roughly $8.4 million.
Data pulled from 410 of the companies included in the S&P 500 index shows that while the economy was slowing down, the compensation for CEOs was going up… […]
Lehman Brothers pre-released details of their earnings announcement originally scheduled for next Monday. The company attempted to soften the blow of a larger than expected $2.8 billion loss with the announcement of plans to raise $6 billion in capital.
For a company that has proclaimed its financial well-being in recent weeks, raising $6 billion in capital may not […]
Video game publisher Take-Two Interactive Systems posted jaw-dropping (in a good way) earnings today due to higher-than-expected sales of Grand Theft Auto IV.
Sales of Grand Theft Auto IV have generated over $500 million in revenue for Take-Two since its April 29 debut. The release was posptoned for six months but it appears the delay did not phase sales […]
No one expected a luxury jeweler to post better than expected earnings during such tough economic conditions. Today, Tiffany & Co. reported a 19% increase in profits!
It appears the tough times have not trickled overseas. Demand from consumers in Europe and Asia more than offset stagnant domestic sales figures. Increased demand overseas and the weak dollar led Tiffany’s to a […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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