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Tweet this: Social media is having a major effect on communication and media globally, but its financial impact is modest. Even giddy estimates of Facebook's future revenues -- $2 billion from ads and $175 million from virtual gaming -- still don't get close to Apple's expected $50 billion in revenue.

Continue reading Why Social Media Is Overhyped as an Engine of Growth

Why Social Media Is Overhyped as an Engine of Growth originally appeared on DailyFinance on Sat, 13 Mar 2010 09:00:00.

Bankruptcy examiner Anton Valukas focused a lot attention on the business Lehman Brothers did with all the big banks. However, after an exhaustive review, he takes no real issue with anything they -- or even Lehman -- did regarding certain transactions.

Continue reading The Lehman Report Doesn't Fault the Other Big Banks

The Lehman Report Doesn't Fault the Other Big Banks originally appeared on DailyFinance on Fri, 12 Mar 2010 18:00:00.

Things just keep getting worse for Toyota Motor. Orange County, Calif. prosecutors filed the first consumer protection lawsuit against the world's top car maker, alleging Toyota knew of acceleration defects in its vehicles and chose to sell them anyway.

Continue reading California County Sues Toyota Over Acceleration Problems

California County Sues Toyota Over Acceleration Problems originally appeared on DailyFinance on Fri, 12 Mar 2010 18:00:00.

Florida's state legislature is preparing to pass a "family-friendly" bill that would deny tax credits to movie and TV productions lacking "family-friendly" themes -- defined as material suitable for a five-year-old.

Continue reading Filming in Florida: So Wholesome, Only a 5-Year-Old Could Enjoy It

Filming in Florida: So Wholesome, Only a 5-Year-Old Could Enjoy It originally appeared on DailyFinance on Fri, 12 Mar 2010 16:59:00.

At South by Southwest Interactive, mobile networking service Foursquare is the belle of the ball. Sure, the service is over-hyped, but it's also genuinely popular, and best of all, it's got good business prospects. The service says it registered 275,000 check-ins on Thursday night.

Continue reading Heavily Hyped Hipster Game Foursquare Shows It's Legit at SXSW

Heavily Hyped Hipster Game Foursquare Shows It's Legit at SXSW originally appeared on DailyFinance on Fri, 12 Mar 2010 16:06:00.

In addition to San Francisco Fed President Janet Yellen, the White House also said its other likely candidates for the open seats on the Fed board were MIT's Peter A. Diamond, an expert on Social Security, and Maryland financial regulator Sarah Bloom Raskin.

Continue reading More Names Emerge for the Fed's Board of Governor Openings

More Names Emerge for the Fed's Board of Governor Openings originally appeared on DailyFinance on Fri, 12 Mar 2010 15:20:00.

Long-term unemployment has the potential to damage the nation's budget and the quality of its workforce, as the cost of unemployment benefits approaches the size of the bailouts and idle workers risk losing skills.

Continue reading Long-Term Unemployment Poses a Big Problem for the U.S.

Long-Term Unemployment Poses a Big Problem for the U.S. originally appeared on DailyFinance on Fri, 12 Mar 2010 14:14:00.

Investment firm Cantor Fitzgerald is preparing to open its Cantor Futures Exchange for real betting on Hollywood box office. With little regulation of the movie futures now in place, professional sports gamblers are looking to make a killing at the betting booth.

Continue reading Cantor Bets on Hollywood, and Sports Gamblers Bet on Techniques

Cantor Bets on Hollywood, and Sports Gamblers Bet on Techniques originally appeared on DailyFinance on Fri, 12 Mar 2010 14:00:00.

Bankruptcy examiner Anton Valukas has released details about so many deliberate material misstatements the firm made in securities filings and public statements that former CEO Richard Fuld and former CFO Erin Callan and will almost certainly face criminal charges. Others could as well.

Continue reading The Lehman Bankruptcy Report Is a Road Map for Criminal Charges

The Lehman Bankruptcy Report Is a Road Map for Criminal Charges originally appeared on DailyFinance on Fri, 12 Mar 2010 13:30:00.

The big daddy of private equity, Kohlberg Kravis and Roberts -- KKR -- is tapping the New York Stock Exchange for an initial public offering. But private-equity firms don't have the best track record in the IPO arena, so eager investors should be wary.

Continue reading KKR Plans Its IPO: Hold Onto Your Wallet With Both Hands

KKR Plans Its IPO: Hold Onto Your Wallet With Both Hands originally appeared on DailyFinance on Fri, 12 Mar 2010 12:28:00.

U.S. consumer sentiment unexpectedly fell for the second straight month in March, capping a mixed week for the nation's economy, with both initial jobless claims and the trade deficit coming in low and retail sales rising despite heavy snow.

Continue reading Consumer Sentiment Stumbles Again

Consumer Sentiment Stumbles Again originally appeared on DailyFinance on Fri, 12 Mar 2010 12:15:00.

Despite recall woes, Toyota sales so far this month are on a roll, thanks largely to generous incentives aimed at improving foot traffic in showrooms. Edmonds.com reports that the seasonally adjusted annual rate of U.S. sales climbed a strong 12.5 million units.

Continue reading Toyota Sales -- and the Industry's -- Are Rebounding in March

Toyota Sales -- and the Industry's -- Are Rebounding in March originally appeared on DailyFinance on Fri, 12 Mar 2010 11:40:00.

It was a status-quo month regarding inventories in January, as business inventories were unchanged. However, sales rose 0.6%, despite the fact that the nation encountered severe winter weather across the country -- something that typically depresses sales.

Continue reading Business Inventories Are Flat in January

Business Inventories Are Flat in January originally appeared on DailyFinance on Fri, 12 Mar 2010 11:26:00.

The airline industry, which has broken the hearts of investors for decades, has been on a bit of a roll lately. Earlier this week, the NYSE Arca Airline Index reached a full-year high, with shares of some of the biggest carriers up more than 200% over the past 12 months.

Continue reading Airline Stocks Cruising Upward After Two Turbulent Years

Airline Stocks Cruising Upward After Two Turbulent Years originally appeared on DailyFinance on Fri, 12 Mar 2010 11:07:00.

On March 15, 1985, a computer company in Cambridge, Mass., registered the very first dot-com site. There were six by the end of the year. And 25 years later, a hundred thousand sites are registered every day, and it's hard to remember life without it, 25 years ago.

Continue reading We Are the World Wide Web! Happy 25th Birthday, Dot-Com

We Are the World Wide Web! Happy 25th Birthday, Dot-Com originally appeared on DailyFinance on Fri, 12 Mar 2010 11:00:00.

Retail sales rose unexpectedly in February, despite brutal weather throughout the country. Consumers continue to focus on price and value, although some analysts think frugal fatigue is beginning to set in.

Continue reading Retail Sales Rise as Shoppers Brave the Storms

Retail Sales Rise as Shoppers Brave the Storms originally appeared on DailyFinance on Fri, 12 Mar 2010 11:00:00.

Books-A-Million, the country's third-largest retail bookstore chain, released its fourth-quarter earnings Thursday, and the news was something of a split decision. Sales dropped 4.6% to $157.2 million, but profits were up $11.9 million -- a 30.1% increase.

Continue reading Sales Are Down, But Profits Are Up for Books-A-Million

Sales Are Down, But Profits Are Up for Books-A-Million originally appeared on DailyFinance on Fri, 12 Mar 2010 10:17:00.

The Delafield Fund invests in the troubled manufacturers of Middle America, but it has more than doubled its clients' money over the past year. The fund has more than 46% of its assets in industrials, which is about triple the amount held by similar funds in the value universe.

Continue reading Fund Focus: Investing in Troubled Manufacturers Pays Off

Fund Focus: Investing in Troubled Manufacturers Pays Off originally appeared on DailyFinance on Fri, 12 Mar 2010 10:00:00.

We're not even halfway through March, and it seems the month has already been marked with an abundance of failed drug studies. The most recent: Three potential cancer drugs -- two from Pfizer and one from Roche -- didn't pan out in late stage clinical trials.

Continue reading Cancer Drugs from Pfizer and Roche Fail in Clinical Trials

Cancer Drugs from Pfizer and Roche Fail in Clinical Trials originally appeared on DailyFinance on Fri, 12 Mar 2010 09:41:00.

Although the OJ industry has said the January cold wave didn't do as much harm as everyone feared, Tropicana is shrinking some OJ packages and raising prices on others. What are the odds it'll reverse those moves when the next crop comes at typical levels?

Continue reading Tropicana: Squeezing Juicier Profits From Florida's Freeze

Tropicana: Squeezing Juicier Profits From Florida's Freeze originally appeared on DailyFinance on Fri, 12 Mar 2010 09:30:00.