Filed under: Energy , Economy , Media Contrary to earlier published reports , the hijacked U.S.-bound oil tanker Maran Centaurus is carrying about $140 million worth of Saudi crude — not the $20 million previously claimed — DailyFinance has learned. Reached in Greece Tuesday, a representative for Maran Tankers Management, the ship’s owner, confirmed that the Centaurus is carrying about 2 million barrels of oil. At today’s market rate of around $70 per barrel, that would mean the 1,085-foot supertanker is carrying $140 million worth of oil, said John van Schaik, the New York bureau chief for the Energy Intelligence Group, a leading industry authority. Previously, the Associated Press had reported that the ship was only carrying $20 million worth of oil. The correct number indicates that the pirates have a much more valuable cargo on their hands. Continue reading Lucky Somali Pirates’ Haul Was $120 Million Richer Than They Thought Lucky Somali Pirates’ Haul Was $120 Million Richer Than They Thought originally appeared on DailyFinance on Tue, 15 Dec 2009 16:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Investing Each day on my way to work, I walk by a poster advertising unlimited data, text and calling with carrier MetroPCS ( PCS ) for $50. Ouch. I pay close to $100 per month for my Apple ( AAPL ) iPhone on rival AT&T ( T ) for essentially the same plan. That’s roughly a $600 per year difference in costs. So, one would logically ask, why have I stuck with AT&T? First, I much prefer my iPhone to BlackBerry ( RIMM ) models available on MetroPCS ( PCS ) or competitor Leap Wireless. You can get far more applications on your iPhone. The iPhone is, to my mind, a much easier device to use and integrate with my laptop. But if those companies offered a phone based on Google’s ( GOOG ) Android operating system, then I might truly consider a switch. Continue reading Cheap carriers on Android spells trouble for iPhone Cheap carriers on Android spells trouble for iPhone originally appeared on DailyFinance on Tue, 15 Dec 2009 19:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Economy New York Times ( NYT ) columnist Paul Krugman (pictured), an economist by training, an Ivy League academic by profession, and no stranger to bold proposals, has offered another big idea, recommending that the U.S. Federal Reserve double its already record-high balance sheet. Krugman wants the Fed to buy another $2 trillion in assets to make more credit available, something Krugman argues will help the U.S. economy grow faster and create more jobs, which the nation really needs. Currently, the Fed’s balance sheet is $2.17 trillion. Continue reading Should the Fed spend $2 trillion more to jump start job creation? Should the Fed spend $2 trillion more to jump start job creation? originally appeared on DailyFinance on Mon, 14 Dec 2009 16:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Should the Fed spend $2 trillion more to jump start job creation?

Filed under: People , Electronic Arts , Pepsico , AT&T , Procter & Gamble Tiger Woods, the world’s top golfer with a $1 billion net worth, is taking an indefinite leave from golf according to The Associated Press . And this is causing some of his sponsors — who pay him about $100 million a year — to take action. While a few stay mum or say they are still deciding, some are quietly distancing themselves from Tiger. Only one is voicing full-fledged support. How should sponsors react to this situation? It depends on how the sponsors’ executives feel about explaining their Tiger strategy to clients and other constituents. Reuters reports that a recent survey of marketing professionals found that 75% of them would curtail endorsements with Tiger if they had them. Continue reading Tiger’s golf exit has sponsors scrambling Tiger’s golf exit has sponsors scrambling originally appeared on DailyFinance on Sat, 12 Dec 2009 11:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Company News , Economy , Goldman Sachs , Bank of America , Citigroup More employees of firms receiving extensive government aid will face caps on their pay , thanks to Obama administration pay czar Kenneth Feinberg (pictured). For top-earning workers at Citigroup ( C ), American International Group ( AIG ), General Motors and GMAC, Feinberg has limited cash compensation at $500,000. The move affects the 26th through 100th highest-paid employees at the companies. Continue reading Obama’s pay czar limits pay packages for more top executives Obama’s pay czar limits pay packages for more top executives originally appeared on DailyFinance on Fri, 11 Dec 2009 14:30:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Energy , Google , Green Just in time for the Copenhagen climate summit, Google ( GOOG ) is pushing the new PowerMeter software developed by the company’s foundation, Google.org. The search company describes the tool by saying “Google PowerMeter is a free electricity usage monitoring tool that provides you with information on how much energy your home is consuming. Google PowerMeter receives information from utility smart meters and in-home energy management devices and visualizes this information for you on iGoogle (your personalized Google homepage). ” Like most Google software, the product can be downloaded for free . Continue reading Google’s new PowerMeter aims to help everyone save energy Google’s new PowerMeter aims to help everyone save energy originally appeared on DailyFinance on Wed, 09 Dec 2009 15:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: People It will be a tough act, maybe tougher than winning all those golf tournaments. But Tiger Woods is a big business that used to generate $100 million a year and gave him a $1 billion net worth, as I posted . That’s a very good living. Unfortunately, the money will stop rolling in unless Tiger puts the rumors of extramarital activity behind him. The reason is simple: Companies pay endorsements because they want to be associated with a winner. That reputation makes it easier to convince people to buy their products. And naturally, when that winner turns into a loser, the companies want to run away from the loser as fast as they can. Continue reading What Tiger Inc. needs to do to save a $100 million-a-year empire What Tiger Inc. needs to do to save a $100 million-a-year empire originally appeared on DailyFinance on Wed, 09 Dec 2009 15:15:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Filed under: Technology , Google , Microsoft , Yahoo The three major search-engine companies have all flooded the media with news of product enhancements and big developments in the past two weeks. Both Microsoft ( MSFT ) and Google ( GOOG ) had big show-and-tell days to highlight some impressive new tricks their tech teams have put together. Microsoft’s Bing rolled out enhanced visual search results . Google, meantime, unveiled jaw-dropping automated language translation and voice-activated search features. Then there was Google Goggles , a feature that allows people to snap images and use that as a cue to pull up relevant search results. (Google is not the first to do that but its version is impressive). All of that said, in the core search market, the month of November was all about Google, as the Mountain View, Calif. market leader grew its U.S. search share by a full percentage point to 71.6%, according to Web traffic tracker Hitwise. Continue reading Good golly, Google. Search giant steals share from Microsoft’s Bing and Yahoo Good golly, Google. Search giant steals share from Microsoft’s Bing and Yahoo originally appeared on DailyFinance on Wed, 09 Dec 2009 20:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Good golly, Google. Search giant steals share from Microsoft’s Bing and Yahoo

Filed under: Investing , Earnings , McDonald’s , 3M , Federal Express Stocks fell Tuesday as worries about several world economies sent investors running to the safety of the U.S. dollar and Treasuries. Disappointing reports from key U.S. companies 3M Co. ( MMM ) and McDonald’s ( MCD ) also increased fears that companies will be hard pressed to produce real profits next year as the economic recovery limps along. The Dow Jones industrial average ($INDU) fell 104 points, or 1%, to 10,285. The Standard & Poor’s 500 index ($INX) fell 11 points, or 1%, to 1,091. The the Nasdaq ($COMPX) composite index fell 16.6 points, or 0.76%, to 2,173. The Dow was down as much as 140 points in morning trading. Continue reading Downgrades, bad reports, rising dollar push stocks down Downgrades, bad reports, rising dollar push stocks down originally appeared on DailyFinance on Tue, 08 Dec 2009 16:35:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Google ( GOOG ) finally launched its Chrome browser for Apple computers ( AAPL ), rolling out a beta version on Wednesday. I tried it. Chrome is really, really fast. Thus far, you can’t use extensions — programs that extend a browser’s functionality — which means I can’t truly pass judgment on Chrome. But the mere presence of Chrome on Macs is likely a sore spot for Apple team, which has been engaged in an increasingly public battle with Google over control of the future of the mobile Internet . The browser still matters because it remains the key entry portal for the vast majority of Internet usage. This will be even more important as Web-based applications for word processing, spreadsheets and other tasks seamlessly mesh with offline traditional software products. But Chrome on the Web matters less than Chrome on the phone. And on the iPhone, in particular. Continue reading Google Chrome for the Mac goes live: Will Apple cave on iPhone access? Google Chrome for the Mac goes live: Will Apple cave on iPhone access? originally appeared on DailyFinance on Tue, 08 Dec 2009 19:35:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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