News Corp. and the Business of Search; Media Has Little to Lose

On November 25, 2009

Majestic Star Casino Files Bankruptcy

Majestic Star Casino, a Las Vegas-based casino operator, filed for Chap. 11 bankruptcy protection this week after defaulting on $80 million in loans for its casinos and hotels in Colorado, Mississippi and Indiana. Chief executive Don Barden said the recession and competition caused the company's financial problems but it would continue operating its casinos. According to the Associated Press, at the end of June, Majestic Star owed $750 million and was worth about $405 million. Lehman Brothers owns about $46.3 million and Goldman Sachs has $64 million in notes from Majestic Star. Majestic Star's casinos were once well-frequented but now with gaming gaining momentum in the last decade, casinos in the middle of Colorado, Mississippi and Indiana are no longer unusual. Increased...


On November 24, 2009

QVC Black Friday Marathon Starts Run for Cyber Monday

Given its scale and success in making shoppers happy, anything that QVC can do to help consumers get past the late night television humor about cubic zirconium and commemorative plates and get them browsing its Keurig coffee makers and Dell computers is going to be a big boost in the long run.


On November 24, 2009

Android’s Fragmented Platform Won’t Kill Its Apps Market

Tech pundits are beginning to wonder if Google's mobile platform is growing too fast for its own good. With so many devices and versions, the argument goes, Android threatens to confuse and frustrate developers, who need to make sure their app works with each phone. But it's not true.


On November 24, 2009

Target Talks Cheap as Black Friday Battle Beckons

Target seems to see a battle in front of it. Considering it is in the trenches, the company’s preparations suggest the coming struggle will be deep and, to use a word bandied about in last year’s horrendous holiday season, dismal.


On November 24, 2009

Are You a “Cyber Monday” or “Black Friday” Type?

"Black Friday," that infamous day after Thanksgiving, isn't the only major shopping day in the coming week anymore. 87.1 percent of retailers will also run promotions on "Cyber Monday" for all those bargain hunters who shop around online right after the Thanksgiving weekend.


On November 24, 2009

Ailing AIG Gets Good News: Benmosche to Stay

American International Group put out a short, but important, statement after its board meeting today: it will implement chief executive Robert Benmosche's compensation agreement. The somewhat erratic CEO has signed a non-compete agreement making it likely that he will stay around for awhile. Non-compete means that he can't go to work for any other insurer, but since Battling Bob was brought out of retirement to run AIG, that probably wouldn't have happened anyway. To those who feel AIG executives are already overpaid, his salary and bonus is likely to stick in their craw. Benmosche will get $3 million in cash, $4 million in AIG stock and an additional $3.5 million (not mentioned in the release) in long-term compensation this year. But...


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