Journeyman maps a path for Sonics rookies

Journeyman maps a path for Sonics rookies
Seattle Times - Get them more focused on the business of basketball and life. I'm not into, 'Man, grab my shoes or grab my bag.' "I never was really into that because when I was a rookie, Grant Hill and Jerry Stackhouse didn't really make me do that. They were like

UAW steps up talks at Chrysler
Detroit Free Press - UAW steps up talks at Chrysler Negotiations for Ford brake to a virtual stop October 6, 2007 BY KATIE MERX FREE PRESS BUSINESS WRITER With momentum growing toward ratification of the UAW's proposed contract with General Motors Corp., the union is

Business news in brief
Philadelphia Inquirer - Airbus S.A.S. won a $10 billion order from US Airways Group Inc. for 92 aircraft that includes 22 A350 XWBs, the model that will compete with Boeing Co.'s 787 Dreamliner. US Airways, Philadelphia's dominant carrier, signed the firm purchase order

Cordish Co. reported in casino talks with Trump
Baltimore Sun - Later, working with Cordish, Fields helped Cordish land the Seminoles' business. The Cordish Co., developer of Power Plant and Power Plant Live at the Inner Harbor, has developed successful hotel and casino projects in Tampa and Hollywood, Fla., for

TALK OF SALE LIFTS YAHOO!
New York Post - Business Home Columnists NYP Home Business News Stock Quotes Sunday Business October 6, 2007 -- Yahoo! investors fed up with the company's Band-Aid approach to fixing its problems yesterday received

USD Fails to Keep Post-Jobs Gains

by Korman Tam

The highly anticipated September labor report triggered a
whipsaw reaction in the currency market with the greenback
initially rallying sharply following the release. However,
upon further analysis of the data, the currency quickly
relinquished its gains to fall to fresh session-lows
against the euro at 1.4156 and sterling at 2.0442.

The headline non-farm payrolls figure for September was
higher than forecast, expanding by 110k compared with an
upwardly revised August payrolls at 89k (prev -4k). The
unemployment rate, however, crept up higher to 4.7% versus
4.6% from a month earlier – which is the highest level
since July 2006. Closer inspection of the report reveals
that the August revision was mainly seasonal reflecting
higher government employment, specifically in education.
The jobs report shifted market sentiment of upcoming Fed
policy, with US interest rate futures pricing in
approximately at 52% chance of a 25-basis point rate cut in
October, compared with a 72% chance prior to the release.

The labor report quelled recessionary fears and tempered
expectations for further aggressive easing from the FOMC.
Our medium term outlook is for a weaker dollar and view
this latest bounce higher to be short-lived. Next week's US
economic calendar is light on data, consisting of the
September Federal Budget, August trade balance, weekly
jobless claims, PPI, retail sales, business inventories and
the University of Michigan consumer sentiment.

EURUSD holds near its session highs, around 1.4140 with
initial resistance seen at 1.4180, followed by 1.42 and
1.4250. Support starts at 1.41, backed by 1.4030 and 1.40.

Source: Forexnews.com

BOJ's Iwata Issues Cautious Note on Japanese Economy

BOJ's Iwata Issues Cautious Note on Japanese Economy
CNBC - of the next rate hike, Iwata, regarded as somewhat dovish on monetary policy, stressed various downside risks for Japan's export-driven economic recovery, among them the increased chance of a further U.S. economic slowdown and still jittery financial

Big players add liquidity and risks to global market
Reuters - NEW YORK (Reuters) - The four largest players in global financial markets have grown at a breakneck pace in the last six years, and the assets they manage are expected to double to $20.7 trillion by 2012, according to a report released on Thursday

Scott+Scott Informs Investors of Filing Deadline in Class Action
MSN MoneyCentral - COLCHESTER, Conn., Oct. 3, 2007 (PRIME NEWSWIRE) -- On August 14, 2007, Scott+Scott, LLP filed the first securities class action against Countrywide Financial Corp. (NYSE:CFC) ("Countrywide" or the "Company") and certain officers and directors in the

Hong Kong's Sun Hung Kai Properties denies share placement talk
Forbes - HONG KONG (Thomson Financial) - Sun Hung Kai Properties , Hong Kong's biggest property developer, denied Thursday media reports that it is planning a 2 billion-US-dollar share placement. 'That is incorrect information,' said a company spokeswoman

Iwata says BoJ to continue rate tightening, while monitoring risk
Forbes - TOKYO (Thomson Financial) - Bank of Japan Deputy Governor Kazumasa Iwata said Thursday the central bank will continue its gradual credit-tightening process while monitoring risks, foreign exchange rates and other asset prices amid uncertainties

Hillsborough commissioners vote down $40M sports complex
St. Petersburg Times - Ultimately, commissioners said the decision was about balancing wants and needs in difficult financial times. "To me, the timing couldn't be much worse for this project," Hagan said. Determining those needs will be the next battle. Commissioners

FirstPlus Financial Group, Inc. Activates Subsidiary Company Websites
Forbes - IRVING, Texas, Oct. 3 /PRNewswire-FirstCall/ -- FirstPlus Financial Group, Inc. (the "Company") (Pink Sheets: FPFX) announced today that the websites for its subsidiary companies -- Rutgers Investment Group, Inc., FirstPlus Development, FirstPlus

Email marketer's IPO hypes skyward
BusinessWeek - Our current and potential competitors may have significantly more financial, technical, marketing and other resources than we do and may be able to devote greater resources to the development, promotion, sale and support of their products,” the

Malaysia's August trade surplus 8.99 billion ringgit vs 7.97 billion
Forbes - KUALA LUMPUR (Thomson Financial) - Malaysia recorded a trade surplus of 8.99 billion ringgit in August, the largest monthly surplus so far this year, the Ministry of International Trade and Industry (MITI) said Thursday. In July, the trade surplus

Japanese govt bonds end morning lower, tracking falls in US Treasury
Forbes - TOKYO (Thomson Financial) - Japanese government bond prices ended Thursday morning lower after US Treasury bonds traded weaker overnight. The yield on the 10-year US Treasury note, which moves opposite to its price, rose to 4.54 percent Wednesday

Forecast on Forex Majors

Forecast on Forex Majors
FXStreet.com - Bias: While 1.4108-38 supports there is no change to the expectations of additional gains Daily Bullish: Yesterday’s pullback broke below the ideal 1.4174-96 support but held in the next at 1.4138. I suspect this may well have formed a low but we

FX policy not matter for EU coordination-UK source
Reuters - FOREX-Dollar rises ahead of key U.S. economic data LONDON, Oct 2 (Reuters) - Foreign exchange policy is not a matter for European Union coordination, a senior UK government

Forex - Dollar range-bound ahead of ISM manufacturing survey
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Japan-Thailand Free Trade Agreement To Take Effect November 1
RTT News - Forex News Ø Forex Top Story Ø US Economic News Ø European Econ. News Japan-Thailand Free Trade Agreement To Take Effect November 1 10/2/2007 8:41:52 PM Japan's controversial Free Trade

Hang Seng: More Gain Of Due For Correction? []
RTT News - Forex News Ø Forex Top Story Ø US Economic News Ø European Econ. News Hang Seng: More Gain Of Due For Correction? [] 10/2/2007 9:27:58 PM The beat goes on for the Hong Kong stock market, where

CORRECTION: Forex - US dollar gains vs. major rivals in late Asian
Forbes - SYDNEY (Thomson Financial) - The US dollar was firmer against the yen in Asian afternoon trade Monday as traders concluded a stronger-than-expected headline reading in a key Japanese survey of business sentiment masked underlying weakness among its

FOREX-Dollar gains as markets await more US data
Reuters UK - LONDON, Oct 2 (Reuters) - The dollar gained on Tuesday as investors looked to buy back the greenback which had been sold off sharply in recent sessions, and awaited more U.S. data that could provide guidance on the health of the economy. A growing

Forex - US dollar slightly weaker Sydney morning as focus turns to
CNBC - SYDNEY (Thomson Financial) - The US dollar was trading slightly weaker against major currencies late morning Tuesday as the market focus turns to Friday's release of US non-farm payroll data for September. The currency is showing some signs of

Markets Likely To Extend Gains; Profit Taking May Cap Gains - Indian
RTT News - Indian rupee declined on Monday after the central bank intervened in the forex market. The rupee ended at 39.85-39.86 a dollar, down from Friday's close of 39.8450-39.8500. Crude oil fell for a third day on Tuesday after the dollar rebounded from a

Trichet, Dodge, King May Follow Bernanke in U-Turn on Policy

Bloomberg News - Central bankers from Europe's Jean- Claude Trichet to
Canada's David Dodge may follow Federal Reserve Chairman
Ben S. Bernanke in an about-face, shifting toward
supporting economic growth and away from fighting inflation.

Economists are scrapping forecasts for higher interest
rates in the euro area, the U.K. and Canada as prospects
for expansion weaken, and some even say inflation will soon
recede enough to permit cuts. A similar change in outlook
may delay expected rate increases in Japan.

``Led by the Fed, central banks are having to change course
to avert a U.S.-led global downturn,'' says Paul Sheard,
chief global economist at Lehman Brothers Holdings Inc. in
New York.

Evidence may come this week as the European Central Bank
and the Bank of England each hold policy meetings Oct. 4.
While economists don't expect rate cuts this soon, ECB
President Trichet and Mervyn King, the U.K. governor, may
use the opportunity to signal greater unease about growth.
London house prices are falling by the most in three years,
while the record- high euro erodes profit at companies such
as France's Total SA.

The risk is that, with oil prices above $80 a barrel,
rising food costs and limited spare capacity, a tilt toward
easier credit might end up fanning inflation. After the Fed
on Sept. 18 cut its benchmark rate a half percentage point,
more than forecast, investors took out inflation insurance
by shifting money from bonds into commodities and
emerging-market stocks that tend to perform well when
prices are accelerating.

Gold Prices Rise

Gold prices ended last week at a 27-year high of $750 an
ounce. Emerging market stocks have rallied almost 20
percent in six weeks, according to an index compiled by
Standard & Poor's and Citigroup Inc.

``The problem in cutting interest rates in the current
environment is that markets respond by raising inflation
expectations,'' says Joseph Stiglitz, a Nobel-laureate
economist at Columbia University. ``That's a limitation for
monetary policy.''

For now, Europe's biggest central banks are on hold.
Economists polled by Bloomberg News are nearly unanimous in
predicting this week's policy meetings in London and Vienna
will end with the U.K.'s benchmark rate holding at 5.75
percent and the euro area's at 4 percent.

Which Way?

What's changing is the view of where the ECB and Bank of
England go from here. Just weeks ago, the consensus was
that they would only pause in their drive to push rates
higher. That view was reinforced by anti-inflation rhetoric
from central bankers themselves. Now, as credit-market
turmoil in the U.S. spreads overseas, the pause looks more
like a peak.

``We've seen a major change in the gestalt, where the
larger risks today are on the side of credit crunch,
financial contagion, economic slowdown, rather than the
pattern of increased inflation,'' former U.S. Treasury
Secretary Lawrence Summers, now a professor at Harvard
University, said in a Sept. 27 interview.

With loans harder to get in Europe, economists at Goldman
Sachs Group Inc. and Lehman Brothers shelved forecasts that
the ECB would raise rates. Lehman calculates that the rise
in the cost of credit in European markets has the same
effect on growth as a half-point rate increase by the
central bank.

Exporters to the U.S. are also suffering as their local
currencies surge, with the euro reaching a record $1.419
last week. Paris-based Total, Europe's third-largest oil
company, calculates that every 10-cent drop in the dollar
against the euro shaves 1.1 billion euros ($1.55 billion)
from its operating income. Canada's dollar last month
traded at parity with the U.S. currency for the first time
since 1976, prompting Montreal- based forest-products maker
Tembec Inc. to shutter sawmills in British Columbia.

Fast and Furious

The U.S. economy's slide has come ``faster and more
furiously than expected,'' says Erik Nielsen, chief
European economist at Goldman Sachs Group Inc. in London,
who forecasts growth in the euro area and the U.K. of about
2 percent next year, the weakest in three years. He
predicts the ECB will keep rates on hold.

David Brown, chief European economist at Bear Stearns Cos.
in London, goes further, projecting the ECB will lower
rates in the first quarter ``with more signs of economic
confidence starting to fracture.''

Rates may fall sooner in the U.K., where King extended
emergency funding to mortgage lender Northern Rock Plc to
remedy a ``severe liquidity squeeze'' just weeks after
saying he saw no ``international financial crisis.''

`High Vulnerability'

``The run on Northern Rock highlights the U.K. economy's
high vulnerability, especially via the housing market, to
the crisis in markets,'' says Michael Saunders, chief
western European economist at Citigroup Inc. He expects the
BOE, whose key rate is the highest in the Group of Seven
major industrial nations, to start cutting as soon as
November.

Lower borrowing costs may also be in store in Canada, whose
central bank on Sept. 5 stopped referring to a need to
increase its 4.5 percent benchmark rate and said market
turmoil threatens growth by slowing export demand.

Ted Carmichael, chief Canadian economist at J.P. Morgan
Securities in Toronto, says the Bank of Canada should lower
rates quickly ``to avoid a more severe economic downturn
than intended.'' He predicts a cut in December.

In Japan, whose economy shrank in the second quarter,
economists are pushing back predictions for when the Bank
of Japan will lift its 0.5 percent benchmark rate, the
lowest in the G-7. Investors see less than a one-in-10
chance of an increase at the BOJ's next meeting Oct. 10-11,
according to Credit Suisse Group calculations using
interest-rate swaps.

A Diminished Chance

``Concern over the financial crisis or liquidity crisis
will prevail through the year, which diminishes the chance
of a rate hike,'' says Naka Matsuzawa, chief strategist at
Nomura Securities Co. in Tokyo.

Not every central bank is doing an about-face. In China,
the fastest inflation in a decade will likely prompt higher
interest rates. Norway last week raised borrowing costs for
a sixth time this year amid a labor shortage. Price
pressures led Chile, Switzerland and Taiwan to boost their
key rates since early August, and each may do so again
before the year ends.

Inflation may still slow the response of the larger central
banks, unlike during the 1998 financial crisis, when G-7
central banks cut rates quickly and in concert. This time
the push towards cheaper borrowing costs may be spread over
months.

Less Leeway

``Monetary policy probably has less leeway today than it
did in 1998 to react to possible real effects of credit
market turbulence with interest rate cuts without
compromising price stability,'' Swiss central bank
governing board member Philipp Hildebrand said Sept. 24.

Inflation accelerated above the ECB's ceiling in September,
rising at a 2.1 percent year-over-year rate, the most in 13
months, official Eurostat figures showed last week.

Thomas Mayer, co-chief economist at Deutsche Bank AG in
London, says even if inflation risks are sustained they
will eventually run second to weaker expansion as the top
concern.

``Inflation will remain relatively sticky, but in the end
central banks will have to respond to the growth outlook,''
he says.

On the Common: the plain, the poor, and the powerful

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In Frederick, a larger variety of lagers
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Japan's Minamata Disease Still Lingers
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Editor & Publisher - Newspaper Industry Information - News Media
Editor and Puplisher - Breaking news stories updated hourly - real-time coverage of industry news and events as they happen. Topical reports on every area of the newspaper business - including the newsroom, financial and corporate affairs, advertising and circulation

Tenuous agreement to resolve Michigan budget crisis hinges on trust
Detroit News - Business groups, led by the Michigan Chamber of Commerce, are pushing lawmakers to adopt those employee reforms. "Everybody deserves good health care and benefits," said the chamber's tax policy director Tricia Kinley. "But when people are getting