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The story behind "Inside Facebook"
Posted: February 29th, 2012, 6:49pm MST
FORTUNE -- In eight years, the social network Mark Zuckerberg began coding in his Harvard dorm room has become a cyber institution with some 843 million users. Now, as Facebook readies to go public later this year, it is about to undergo the most dramatic change in its short history. Once it is public, Zuckerberg's venture will almost certainly have the capital necessary to realize its biggest ambitions. But the riches of an IPO also threaten the uniquely bare-knuckle, scrappy culture the company has struggled to build. -
World's Most Admired Companies
Posted: February 29th, 2012, 5:00pm MST
Apple tops the list for the 5th year in a row. See who else made it and vote for your favorite. -
$3.4 TRILLION BUDGET HOLE
Posted: February 29th, 2012, 3:16pm MST
Mitt Romney made two big changes to his tax plan last week, and according to a new analysis, they will be very expensive. -
Blackstone CEO Schwarzman's $223 million year
Posted: February 29th, 2012, 2:29pm MST
It was a very good year for Stephen Schwarzman. -
Starz videos disappear from Netflix
Posted: February 29th, 2012, 1:56pm MST
Netflix's key contract with Starz expired on Tuesday, causing a massive hit to its catalog of movies and TV shows -- especially instant streaming. -
Microsoft releases Windows 8 preview
Posted: February 29th, 2012, 1:19pm MST
Microsoft gave consumers their first opportunity to download and play around with the company's new Windows 8 operating system. -
The madness of the Murdoch method
Posted: February 29th, 2012, 1:16pm MST
FORTUNE -- Rupert Murdoch's decision to demote his own son is a perfect example of why he's endlessly interesting. Sometimes he makes business decisions purely with his head, canny and shrewd, occasionally ruthless. That's what he did this time. But sometimes he makes giant decisions with his heart, appearing misguided or just nuts; for example, he runs the New York Post and the Times of London at deep losses that will apparently continue forever, and he just doesn't care. Overall, the Murdoch method has worked well for him. For investors in his News Corp. (NWS), it has not worked nearly as well as it should have. Recent events show the problem clearly. Amazingly, amid the U.K. phone hacking scandal that led to James Murdoch's downfall -- a mushrooming story that a member of Parliament yesterday called "the single largest corporate corruption case in this country for more than 250 years" -- the Murdoch method is still working, at least for him. James was, among other things, chief of News International, the News Corp. division that owns the company's British newspapers. When the phone hacking scandal erupted at one of them, the News of the World, Rupert made one of his famously tough-minded decisions, abruptly closing the 168-year-old paper. News Corp.'s value dropped by billions of dollars as investors feared more revelations would follow. -
THE EURO'S SILENT RISE
Posted: February 29th, 2012, 1:10pm MST
The euro is "The Artist" of currencies. It's winning raves and is the feel-good hit of the season! Don't laugh, but the euro has quietly (get it?) enjoyed a nice bounce in the past few weeks. It's up about 6% versus the dollar since mid-January. -
Hybrid maker Bright Automotive goes bust
Posted: February 29th, 2012, 1:03pm MST
Hybrid vehicle maker Bright Automotive has announced plans to close, blasting the Department of Energy for failing to finalize a loan that the firm says would have kept it afloat. In a letter dated Tuesday to Energy Secretary Steven Chu, Bright CEO Reuben Munger and COO Mike Donoughe said they were withdrawing their application for a $314 million loan and winding down their operations. The executives claimed they had been strung along for the past few years as the government insisted on increasingly stringent loan requirements. "The actions -- or better said 'lack of action' -- by your team means hundreds of great manufacturing and technical jobs ... and thousands of indirect jobs in Indiana and Michigan will not see the light of day," the letter said. The Indiana-based company was founded in 2008 and had developed a prototype for a plug-in hybrid van, but had not yet begun manufacturing. Energy Department spokesman Damien LaVera said the two sides could not come to an agreement "on terms that would protect the taxpayers." -
Michael Jordan selling home for $29 million
Posted: February 29th, 2012, 11:58am MST
The NBA star is selling his 56,000 square-foot contemporary estate, basketball court included. -
Average Wall Street bonus drops to $121,000
Posted: February 29th, 2012, 11:48am MST
Lower profits and layoffs resulted in Wall Street bonuses falling by nearly $3 billion last year to their lowest level since the 2008 financial crisis. -
How StumbleUpon saved itself
Posted: February 29th, 2012, 11:31am MST
FORTUNE -- StumbleUpon, the 11-year-old social site, has managed something few Silicon Valley companies have: a comeback. It may not have the buzz -- or billions -- of Facebook, but StumbleUpon has managed to right itself after a brush with obscurity to become one the most powerful sources of traffic on the internet. -
GM in alliance with French carmaker Peugeot
Posted: February 29th, 2012, 11:18am MST
General Motors has announced an alliance with the French automaker PSA Peugeot Citroen which it says will save the automakers a combined $2 billion within five years. -
What GE paid in taxes in 2011: It's a mystery
Posted: February 29th, 2012, 10:29am MST
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Ferrari unveils its fastest street car ever
Posted: February 29th, 2012, 9:32am MST
Ferrari will unveil its fastest street car ever at next month's Geneva Motor Show. -
Foursquare: 'Not just check-ins, badges'
Posted: February 29th, 2012, 9:04am MST
Foursquare CEO Dennis Crowley knows people think his location-based service is about a bunch of dorky teens and twenty-somethings running around and collecting virtual badges. -
JOBS 'FAR FROM NORMAL'
Posted: February 29th, 2012, 9:01am MST
Federal Reserve Chairman Ben Bernanke headed to Capitol Hill Wednesday to give Congress his semi-annual report on the economy, and what he had to say wasn't exactly rosy. -
Best way to consolidate your 401(k)s
Posted: February 29th, 2012, 8:18am MST
The best option is to roll your 401(k) plans into one IRA. An IRA will almost always have better investment options than a 401(k). -
James Murdoch out as head of U.K. publishing unit
Posted: February 29th, 2012, 8:07am MST
James Murdoch is giving up leadership of News Corp.'s scandal-plagued U.K. newspaper publishing business. -
Rearview car camera rules delayed by U.S.
Posted: February 29th, 2012, 7:58am MST
The National Highway Traffic Safety Administration has decided to postpone the creation of a new rule that would have required rearview back-up cameras in all new cars, pickups and SUVs by 2014. -
Stocks open higher on Europe hopes
Posted: February 29th, 2012, 7:49am MST
While stocks ended slightly lower, Wednesday's biggest market moves were in the bond, commodity and currency markets -- with 10-year Treasury yields surging higher and the price of gold, silver and the euro dropping dramatically. -
How to cope with toxic colleagues
Posted: February 29th, 2012, 7:39am MST
Constant conflict and hostility is not only unpleasant, it can damage your health. There are ways to stay sane and protect yourself. -
Economic growth stronger in late 2011
Posted: February 29th, 2012, 6:43am MST
Economic growth was stronger than originally thought at the end of 2011 as consumers increased their spending and businesses invested in equipment and software. -
India's slower growth may be an 'uh, oh' sign
Posted: February 29th, 2012, 5:57am MST
Economic growth in India slowed at the end of last year, the government reported Wednesday, raising concerns about whether emerging markets will continue to be the engine of global growth. -
Inside view of LulzSec's hacking rampage
Posted: February 29th, 2012, 5:35am MST
On June 2, hacktivist collective "LulzSec" burst onto the cybersecurity scene with a splashy exploit: It published a trove of data stolen from 1 million user accounts on Sony's website. -
Romney wins Michigan and Arizona
Posted: February 29th, 2012, 5:34am MST
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Cut Social Security for the rich? Already done
Posted: February 29th, 2012, 5:25am MST
It's almost time for one of Washington's rites of spring: the arrival of the new Social Security trustees' report. The report, which is usually issued in April, will show Social Security's finances deteriorating because of a higher-than-projected inflation adjustment for 2012. This is likely to touch off a debate over whether to help fix Social Security's financial problems by denying retirement benefits to "the rich." On the surface, this approach, known as "means testing," sounds great. Eliminating payments to retirees with incomes above a certain level would make more available for folks in need. Those greedy rich need to pay their fair share, right? But here's a dirty little secret: Social Security is already seriously means-tested. And my situation shows it. -
APPLE BREAKS $500 BILLION
Posted: February 29th, 2012, 5:13am MST
Apple's stock market value topped the $500 billion mark in pre-market trading Wednesday, another record high for what was already the world's most valuable company. -
ECB loans $712.4B to European banks
Posted: February 29th, 2012, 5:11am MST
The European Central Bank announced Wednesday that banks borrowed €529.5 billion, or $712.4 billion, under a highly-anticipated lending program aimed at preventing a credit crunch in Europe. -
It's time to give college a rethink
Posted: February 29th, 2012, 5:08am MST
The best part about winter is that I no longer have to endure the fall conversations with parents about how well their freshmen are "fitting in" at college. -
Uncle Sam wants you to rent his foreclosed homes
Posted: February 29th, 2012, 5:06am MST
Want to become a landlord in one of the nation's hardest-hit foreclosure neighborhoods? Well, Uncle Sam has a deal for you. -
Stocks to open higher after ECB loan
Posted: February 29th, 2012, 4:51am MST
U.S. stocks were set for a higher open Wednesday, after the European Central Bank said that it well lend €529.5 billion, or $721.4 billion, to European banks in an effort to prevent a credit crunch. -
Alaska's oil windfall
Posted: February 29th, 2012, 3:59am MST
Alaska has a big vested interest in high oil and gas prices. -
Are bonds only for scaredy cats?
Posted: February 29th, 2012, 3:49am MST
If you're investing for retirement that is still more than 20 years away and you do not have inclination to sell when stocks take a dive, is there any advantage to owning bonds at all? Or are bonds only for scaredy cats who will sell their stocks during a market plunge? -- Tom McCarthy, Wilmington, Delaware -
Gas prices spike 8% in February
Posted: February 29th, 2012, 3:24am MST
February has been one heck of a month for American motorists, who have been hit with an 8% spike in the price of gas. And things are expected to get worse during the summer driving season, when gas prices could break their current record. -
Goldman could face new SEC charges
Posted: February 28th, 2012, 5:39pm MST
Goldman Sachs says the SEC is looking into what it told investors about a $1.2 billion subprime bond. Sound familiar. -
First Solar tumbles after disappointing results
Posted: February 28th, 2012, 4:20pm MST
Shares of solar power company First Solar dropped in after-hours trading Tuesday following disappointing quarterly results. The Arizona-based company, a leading maker of thin-film solar panels and a developer of solar power projects, posted net sales of $660 million and earnings per share of $1.26, excluding certain charges. Analysts surveyed by Thomson Reuters expected the firm to post earnings of $1.54 per share on $782 million in revenue for the quarter ended in December. When taking into account costs incurred during the quarter from factors including restructuring and loss of goodwill, First Solar sustained a net loss of $413 million. "First Solar's performance in the quarter was impacted by an aggressive competitive environment, an uncertain regulatory environment, warranty-related charges, and restructuring costs incurred to help position our business for the future," Mike Ahearn, First Solar's chairman and interim CEO, said in a statement. The company also lowered its sales guidance for 2012 from $3.7-$4.0 billion to $3.5-$3.8 billion. Following a brief halt to trading after the bell, shares dropped roughly 15% before rebounding to around 6% down late in the day. -
Fed turns a $2.8 billion profit on AIG bonds
Posted: February 28th, 2012, 4:01pm MST
Remember those pesky mortgage-backed securities the Federal Reserve had to take off AIG's hands at the worst of the financial crisis? -
Jamie Dimon: JPMorgan is still too small
Posted: February 28th, 2012, 3:43pm MST
JPMorgan CEO Jamie Dimon says his bank, the United States' largest, may still be too small to succeed. -
Facebook riches for California
Posted: February 28th, 2012, 2:35pm MST
Facebook's upcoming IPO could be a golden egg for the Golden State. -
Google's Schmidt warns of 'digital caste system'
Posted: February 28th, 2012, 2:02pm MST
Advancements in Internet technology are creating a new digital divide that threatens to widen the gap between the world's rich and poor, Google Chairman Eric Schmidt said in his annual Mobile World Congress keynote address on Tuesday. -
Housing settlement details due this week
Posted: February 28th, 2012, 1:41pm MST
Final details are due out this week in the $26 billion settlement to help struggling homeowners and settle charges of abusive and negligent foreclosure practices, according to President Obama's housing chief. -
New cybersecurity reality: Attackers are winning
Posted: February 28th, 2012, 1:00pm MST
This past year's wave of high-profile, extremely sophisticated cyberattacks are a watershed moment for the security field, according to RSA chief Arthur Coviello. -
European banks to soak up more ECB money
Posted: February 28th, 2012, 12:46pm MST
After unleashing a wave of liquidity earlier this year, the European Central Bank is set to offer European banks another chance to soak up billions of euros in cheap loans. -
One doctor in record $375 million Medicare fraud
Posted: February 28th, 2012, 12:22pm MST
Dr. Jacques Roy, a Dallas area physician, allegedly led a scheme that bilked Medicare for nearly $375 million over five years, in the single largest healthcare fraud committed in the United States, federal authorities announced Tuesday. -
Dealing with the morning-after syndrome at Facebook
Posted: February 28th, 2012, 12:16pm MST
Any day now there's going to be one helluva party at Facebook. And why not? Companies don't go public for a gazillion dollars very often. So party on, Facebook. Just beware the day after. Actually, beware the year after and the year after that. Because once Facebook has its massive new liquidity infusion, the company stands to get nailed by something that can hurt a lot more and last a lot longer than a hangover -- a changed culture. The reason: It's just plain hard to generate wide-scale paranoia, passion, and humility -- the defining values of an energized enterprise -- when everyone's feeling fat and happy. -
LightSquared CEO steps down
Posted: February 28th, 2012, 12:16pm MST
LightSquared CEO Sanjiv Ahuja is resigning, the company announced Tuesday. -
Real winners in Michigan: GM and Ford - The Buzz
Posted: February 28th, 2012, 12:10pm MST
Michigan primary day is finally here! And you don't need millions of dollars in super PAC contributions to state the obvious about the state's auto stocks. They are all big winners so far this year. -
What your phone knows about you
Posted: February 28th, 2012, 11:59am MST
The company behind the secret cell phone software that caused a massive privacy stir late last year doesn't want the data it lets carriers collect from you to be a secret anymore. -
Top 10 consumer complaints
Posted: February 28th, 2012, 11:43am MST
For the 12th year in a row, identity theft was the number one consumer complaint -- irking consumers more than debt collectors, imposter scams and shady credit repair companies. -
Former Chrysler CEO to head Fisker Autos
Posted: February 28th, 2012, 11:23am MST
Tom LaSorda, the former chief executive of Chrysler, has been named CEO of Fisker Automotive, the California-based maker of luxury electric cars confirmed Tuesday. -
Fewer banks in trouble
Posted: February 28th, 2012, 11:07am MST
The number of banks at risk of failing fell in the fourth quarter, marking the third straight quarterly decline, according to a government report issued Tuesday. -
Home buyers are paying in cash, and it's bad news
Posted: February 28th, 2012, 10:56am MST
Nearly half of current homeowners buying new homes by the end of 2012 are expected pay in cash, and that's not a good thing for home prices. -
Apple likely to unveil iPad 3 on March 7
Posted: February 28th, 2012, 10:50am MST
Apple is expected to announce the iPad 3 at a "special event" in California next week. -
Consumer Reports: Top car picks
Posted: February 28th, 2012, 10:48am MST
These cars, trucks and SUVs ranked at the top among all cars tested by the leading consumer magazine. -
What's behind the gas price spike
Posted: February 28th, 2012, 10:21am MST
A combination of trouble with Iran, a recovering global economy, investor interest and a potential problem at refineries are all responsible for the recent spike in gasoline prices, experts say. -
Intel's secret phone revealed
Posted: February 28th, 2012, 10:13am MST
The hottest smartphone maker at this year's Mobile World Congress in Barcelona isn't Samsung, HTC, Nokia or Motorola. It's Intel. -
Obama: Auto bailouts worked
Posted: February 28th, 2012, 9:31am MST
President Obama on Tuesday defended his administration's 2009 bailout of the auto industry in a speech to the United Auto Workers union, saying it prevented another Great Depression from hitting the Midwest. -
Orders for durable goods plunge most in 3 years
Posted: February 28th, 2012, 9:23am MST
Orders for long-lasting goods plunged in January, as businesses fiercely pulled back on buying new equipment after a special tax treatment expired. -
How to pull off attack marketing
Posted: February 28th, 2012, 9:17am MST
FORTUNE -- "Because he is a fake," Republican presidential hopeful Ron Paul told CNN's John King when asked to explain the motivation behind his attack ad slamming competitor Rick Santorum's stance as a fiscal conservative. The audience cheered. -
"We're terrified" of rising gas prices
Posted: February 28th, 2012, 9:09am MST
Businesses that rely on fuel to get their products directly to customers are bracing for a sharp rise in gas prices. -
Fast trading on Wall Street is here to stay
Posted: February 28th, 2012, 8:35am MST
Instead of making an enemy of the high frequency trading firms, the SEC might be better off teaming up with them to help police the markets and provide liquidity. -
Home are lowest since 2002
Posted: February 28th, 2012, 8:12am MST
National home prices fell 4% in the fourth quarter of 2011, putting them back at levels last seen in mid-2002. -
Intel finally ups the ante in mobile
Posted: February 28th, 2012, 8:10am MST
FORTUNE -- After years of trial and error, Intel's (INTC) Atom processor is finally getting some love from mobile phone manufactures. But that doesn't mean they'll be a hit with consumers. To win over the smartphone-wielding masses, the company will need to get everyday buyers to believe that phones with Intel inside are somehow superior to phones that run on chips made by Qualcomm (QCOM), Nvidia (NVDA) and other competitors. -
Yahoo, Facebook in a shoving match
Posted: February 28th, 2012, 8:09am MST
Facebook shot back at Yahoo Tuesday in the wake of Yahoo's patent battle against the social media company. -
Are my kid's dental expenses tax deductible?
Posted: February 28th, 2012, 7:58am MST
You can claim a deduction for a child's medical expenses only if they qualify as your dependent for tax purposes. -
Stocks mixed at the open
Posted: February 28th, 2012, 7:49am MST
U.S. stocks closed at multi-year highs, as investors weighed a small pullback in oil prices and improving consumer confidence against a worse-than-expected drop in durable goods orders. -
Ink cartridge firm makes a million
Posted: February 28th, 2012, 7:45am MST
As a high-school English teacher Lauren Elward, 33, blew through hundreds of ink cartridges printing out syllabuses and handouts for her students. -
CRV raises $375 million for new fund
Posted: February 28th, 2012, 7:33am MST
Charles River Ventures today will announce that it has closed its fifteenth fund with $375 million in capital commitments. -
STOCKS GET AN OIL BREAK
Posted: February 28th, 2012, 5:12am MST
U.S. stocks were poised to edge higher at Tuesday's open, tracking gains in global stock markets, as oil prices pull back following a seven-day run-up that sent crude 9% higher. -
Behind the buzzwords in job ads
Posted: February 28th, 2012, 4:12am MST
FORTUNE -- Read enough help-wanted advertisements, and you'll soon realize that they all basically sound the same. Jargon like "detail-oriented" and "self-starter" is so overused that the positions advertised begin to sound unremarkable: part of the expected landscape of hunting for a job. But if you stop and think about what all of these buzzwords are signaling, you'll realize how much information you just might miss if you fail to read between the lines. First of all, when employers fall back on the same old jargon to advertise positions, it could very well be that they actually have no idea what they are looking for. They just know they have a spot to fill. "Jargon is our way to grow lazier decision making in corporate cultures," says Kevin Fleming, owner of Grey Matters, a neuroscience-based executive development and coaching firm based in Jackson Hole and Tulsa, Ariz. "We use these words to cover up something. It could also be a way to hide some ambivalence." -
5 tricky tax challenges
Posted: February 28th, 2012, 3:46am MST
With the Bush tax cuts slated to expire at the end of this election year, consider this filing season the calm before the tax storm: You'll face few new rules, tax rates are the same as last year, and popular deductions are still in place. -
Mozilla's plan to outduel iPhone and Android
Posted: February 28th, 2012, 3:39am MST
In a smartphone world dominated by Google and Apple, Firefox browser maker Mozilla thinks it can offer something better. -
Your Jetsons home is almost here
Posted: February 28th, 2012, 3:27am MST
In the classic 1960s animated sitcom The Jetsons, everything in the space-age family's home could be controlled by the press of a button on a remote control. -
Gas prices on the rise - Day 21
Posted: February 28th, 2012, 3:18am MST
Gas prices continued to climb on Tuesday, inching closer to $4 a gallon as they rose for the 21st day in a row. -
FHA to hike premiums on mortgages
Posted: February 27th, 2012, 5:42pm MST
In an effort to bolster its capital reserves, the Federal Housing Administration is planning to hike the insurance premiums it charges borrowers. -
Water bills to triple in some parts of the U.S.
Posted: February 27th, 2012, 5:15pm MST
Many consumers could see their water bills double or even triple, as the country attempts to overhaul its aging water system over the next 25 years. -
Wall Street fights limits on oil speculation
Posted: February 27th, 2012, 3:43pm MST
Wall Street is pushing to stop a new rule that would crack down on speculation in the energy markets, which many blame for contributing to the spike in gas prices. -
Part of Keystone pipeline to move forward
Posted: February 27th, 2012, 3:36pm MST
TransCanada will move ahead with part of the Keystone XL pipeline that will boost the flow of crude from the oil sands of Canada to the U.S. Gulf Coast. -
S&P downgrades Greece
Posted: February 27th, 2012, 3:21pm MST
Standard & Poor's downgraded Greece's credit rating Monday to "selective default" after the government took legal steps to impose losses on all holders of Greek government bonds. -
Why JPMorgan has become a Wall Street laggard
Posted: February 27th, 2012, 1:59pm MST
Jamie Dimon may need to do something to prove he still deserves a premium. In the wake of the financial crisis, investors paid up for JPMorgan Chase's (JPM) shares because Dimon had done a remarkably good job of steering his bank clear of the worst of the housing bust. But in the past few months, JPMorgan and its CEO seem to have lost their luster.While shares of all of the big banks have rallied this year, JPMorgan's are up less than most. The stock of Dimon's bank has risen 15% since Jan. 1. That compares to 23% for Citigroup (C), 28% for Goldman (GS) and 42% for Bank of America (BAC). Worse, JPMorgan's shares now get a lower valuation than many rivals - even those that were once seen as much weaker. In fact, were JPMorgan broken up and left for dead, according to analysts at Morgan Stanley, presumably booting Dimon in the process, the bank's shares could potentially rise to $48, up 24% from its current price of $38.72. Ouch. -
Strategic oil reserve tap offers only a little relief
Posted: February 27th, 2012, 12:16pm MST
When gas prices climb, as they are now, there's an equivalent surge in talk of tapping the nation's Strategic Petroleum Reserve -
Get ready for ho-hum stock returns for years
Posted: February 27th, 2012, 11:39am MST
Jeremy Grantham is less enthused than others about U.S. stocks, he writes in his latest quarterly letter. But he does find opportunity elsewhere. -
Meet the next-generation in intelligence
Posted: February 27th, 2012, 11:32am MST
FORTUNE -- Already in the first two months of 2012, high profile hacks are threatening to make 2011, characterized by experts as "The Year of the Security Breach", seem tame. It's becoming a common occurrence to hear about companies and governments falling victim to security attacks. -
Germany backs second Greek bailout
Posted: February 27th, 2012, 11:06am MST
In a widely expected move, German lawmakers approved Monday a politically unpopular second bailout for Greece. -
General Motors' last tango in Paris
Posted: February 27th, 2012, 10:53am MST
FORTUNE -- The alliance between PSA Peugeot Citroen and General Motors currently being mulled by both companies may prove marginally beneficial. But, it is unlikely to solve each auto maker's deep economic and financial troubles in Europe. And for the American side of the equation at least, it may only serve as a painful reminder that GM has stumbled attempting such a maneuver several times before. -
Car salesmen: Still sexist, still stupid
Posted: February 27th, 2012, 10:50am MST
When I waited tables as a teenager, I learned one lesson very quickly: Treat every person in a dinner party equally, because you never know who's picking up the bill -- and therefore determining your tip. It's the most basic of business survival tips, but one that few car salesmen in this country seem to have learned. And if you doubt me on this point, try walking into a car dealership seven months pregnant with your husband and two kids, and see who the salesman approaches first. -
America's oil boom - at a cost
Posted: February 27th, 2012, 10:07am MST
The United States is undergoing an energy boom - but the oil and gas industry says it could be much, much bigger. -
The man who makes New York move
Posted: February 27th, 2012, 9:31am MST
FORTUNE -- It's hard to imagine a more difficult leadership problem to tackle than transit logistics in New York and New Jersey. But Patrick Foye, the executive director of the Port Authority of New York & New Jersey insists that his job is not a nightmare. That's despite being in charge of an organization that oversees the major airports in both states, all of the bridges and tunnels connecting them, the PATH train line, and owns 90% of one of the World Trade Center buildings. It's a worthwhile challenge, he says, and it's one he's prepared for after holding leadership positions in the private sector and serving as Governor Cuomo's Deputy Secretary for Economic Development. Foye started his new job at Port Authority in November 2011. He speaks with Fortune about his plans to get some of the United States' most densely populated areas running right. -
8 great fuel-efficient cars
Posted: February 27th, 2012, 9:11am MST
These days, if you're shopping for a new car, you're probably making fuel economy a priority. Here are a few excellent choices. -
The cloud goes public
Posted: February 27th, 2012, 8:42am MST
FORTUNE -- Facebook may be grabbing the lion's share of IPO news coverage these days as the social network prepares to raise $5 billion from the public markets. But even as Facebook's planned IPO seems to be drawing some critical scrutiny, several smaller IPOs that went public under the banner of cloud computing are faring much better. -
A $100K factory job. What's uncool about that?
Posted: February 27th, 2012, 8:34am MST
What's uncool about a $100,000 factory job? These days not much. In fact, factory jobs -- once considered back-breaking and low-paying -- have become high-tech and high-salaried. -
Stocks under pressure
Posted: February 27th, 2012, 8:04am MST
U.S. stocks ended little changed Monday as investors weighed an upbeat housing report against worries about the debt crisis in Europe and rising gas prices. -
Low interest rates are bad for community banks
Posted: February 27th, 2012, 7:47am MST
The Federal Reserve insists its low rate policy will benefit community banks over time, but many small bankers aren't buying it. -
Apple takes chunk of cellphone profits
Posted: February 27th, 2012, 7:06am MST
Just in time for this week's Mobile World Congress, a snapshot of where the money goes. -
More customers leaving big banks in 2011
Posted: February 27th, 2012, 5:08am MST
New fees and poor customer service have sparked an exodus among big bank customers, many of whom switched to smaller institutions last year. -
10 cars you don't want during a gas crisis
Posted: February 27th, 2012, 4:55am MST
Fuel prices are climbing - time to rethink why you passed on that Prius and opted for a gas hog. -
How to get a job promotion
Posted: February 27th, 2012, 4:41am MST
Looking for a promotion in 2012? You may need to rethink how you go after it. -
Debt ceiling fight may come sooner than expected
Posted: February 27th, 2012, 4:27am MST
Remember the bitter debt ceiling debate in Washington last summer? The one that resulted in the first-ever downgrade of the U.S. credit rating? -
World Bank to China: Free up your economy
Posted: February 27th, 2012, 4:19am MST
The World Bank and a Chinese think tank have a stern warning in store for China's government: Transition to a freer commercial system, or else face an impending economic crisis. -
Gas prices climb for 20th day
Posted: February 27th, 2012, 4:13am MST
Gas prices continued their march toward $4 on Monday, rising for the 20th day in a row. -
EUROPE, OIL IN FOCUS
Posted: February 27th, 2012, 4:06am MST
U.S. stocks were set to open lower Monday as concerns on Europe's debt crisis returned and gas prices continued to rise. -
Gas prices climb for 20th day
Posted: February 27th, 2012, 3:22am MST
Gas prices continued their march toward $4 on Monday, rising for the 20th day in a row. -
G20 chiefs: Europe needs a bigger firewall
Posted: February 26th, 2012, 6:25pm MST
European leaders have taken "substantial" steps to contain the eurozone debt crisis, but they need to build a stronger financial firewall to ensure the safety of the global economy, top finance officials said Sunday. -
Get MONEY's advice on tough financial decisions
Posted: February 26th, 2012, 3:51pm MST
Do you have a burning question about family, friends, colleagues, and your finances? Here's your chance to get some great advice. -
World Bank to China: Free up your economy or bust
Posted: February 26th, 2012, 7:22am MST
The World Bank and a Chinese think tank will have a stern warning in store for China's government on Monday: Transition to a freer commercial system, or else face an impending economic crisis. -
BP OIL SPILL TRIAL TO BEGIN
Posted: February 26th, 2012, 7:02am MST
As settlement talks continue, the high-profile legal battle over the Deepwater Horizon disaster in the Gulf of Mexico that was scheduled to begin Monday has been delayed a week. -
Don't believe every 'Buffett buys...' headline
Posted: February 26th, 2012, 6:56am MST
Warren Buffett still does most of the portfolio management at Berkshire Hathaway, but the press often mistakes his investments with those of his managers, Todd Combs and Ted Weschler. -
Will oil prices kill the stock rally?
Posted: February 26th, 2012, 6:20am MST
Expect the upward march of oil and gas prices to overshadow bellwether corporate earnings, economic reports and a read on the health of the European banking sector -- all of which are due next week. -
Apple's growth: Defining a new era in business?
Posted: February 26th, 2012, 6:01am MST
Investors, analysts and business historians have been struggling in the weeks since Apple's most recent earnings report to make sense of this corporate oddity: a mega-cap company that grows like a start-up. -
'DEAD WRONG' ON HOUSING
Posted: February 25th, 2012, 11:32am MST
Warren Buffett says "hormones" will save the housing market. But this time he's not saying exactly when. -
Why the 'law of large numbers' doesn't apply to Apple
Posted: February 25th, 2012, 11:07am MST
There is no law -- mathematical or otherwise -- that says the world's most valuable company can't keep growing faster than its competitors, especially when it's in the business of disrupting one industry after another. -
Gas prices keep climbing
Posted: February 25th, 2012, 8:33am MST
Paying at the pump grew even more painful Sunday, as gas prices climbed for the 19th day in a row. -
BUFFETT BEATS S&P -- AGAIN
Posted: February 25th, 2012, 6:26am MST
Berkshire Hathaway's results were hit in 2011 from setbacks in its insurance and housing-related investments, but growth in its book value handily outpaced the broader stock market. -
Why did Apple close at a record high?
Posted: February 24th, 2012, 4:46pm MST
When Tim Cook's failure to announce a dividend was supposed to send it tumbling? -
Winter tomatoes ... from Maine?
Posted: February 24th, 2012, 1:25pm MST
Scientists worried about the stress put on farmland by a booming population see new promise in growing greenhouse vegetables hydroponically -- the centuries-old practice of cultivating plants in nutrient-rich water instead of soil. Maine's Backyard Farms, the largest producer in New England, delivers tomatoes to stores just hours after they are picked -- even during the snows of February. The company, whose farm spans 42 acres, says it is profitable. -
'Double-dip recession inevitable'
Posted: February 24th, 2012, 12:56pm MST
While most economists have stopped worrying that the U.S. will fall into a double-dip recession, one influential economist maintains his position that the nation won't be able to avoid a new downturn. -
How the Fed saves the government money
Posted: February 24th, 2012, 12:49pm MST
The Federal Reserve takes a lot of heat from critics for keeping interest rates low. But there's an upside that most people overlook: Low interest rates save the government money. -
Porsche Cayennes recalled for bum headlights
Posted: February 24th, 2012, 11:11am MST
Porsche is recalling more than 100,000 of its Cayenne SUVs worldwide due to a headlight problem. -
eBay's got a PayPal problem
Posted: February 24th, 2012, 10:22am MST
FORTUNE -- Through all eBay's struggles, PayPal has always been a bright spot. The online payment system, acquired in 2002, provided eBay with growing profits and, at times, a much-needed good story to tell investors. Founded in 2000 by tech stars, including Peter Thiel and Elon Musk, the company offered merchants and consumers an easy way to transfer money. To its credit, eBay generally left PayPal alone as it transformed itself from a company offering simple online money transfers into a digital currency powerhouse forging deals with retailers and pushing into mobile payments. -
Will Smith likes my T-shirts!
Posted: February 24th, 2012, 9:44am MST
A celebrity endorsement can send a small business' sales skyrocketing. But getting one is not so easy. These owners, however, discovered new ways -- and places -- to get celebs to promote their products, many of them for free. -
6 networking mistakes job hunters make
Posted: February 24th, 2012, 9:40am MST
FORTUNE -- Dear Annie: I've been living on my savings and a small inheritance since I lost my job in late 2010 and, while I've kept busy with some consulting projects and volunteer work, I really need to find a full-time position. I keep hearing that tapping my network of professional contacts is a far better approach than responding to ads and, based on my own experience in my past jobs, I know it's true. My problem is that I really hesitate to get in touch with former colleagues and other acquaintances I haven't seen or spoken with in years. It seems like an imposition. So far, I've been forcing myself to do it anyway. But when I contact people and ask if they know of anything, all that comes of it is a short, awkward conversation, followed by silence. Is there some secret to networking that I'm missing? ? Stumped -
Why the Federal Reserve can't fix housing
Posted: February 24th, 2012, 9:26am MST
Housing is still one of the biggest drags on U.S. economic growth, but don't look to the Federal Reserve for help. The central bank may have few tools left to fix it. -
New home sales exceed expectations
Posted: February 24th, 2012, 8:56am MST
New home sales exceeded forecasts in the latest government readings Friday, another sign of a long-awaited recovery in the battered housing market. -
How to bring down your property taxes
Posted: February 24th, 2012, 7:53am MST
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How prescription drug abuse costs you money
Posted: February 24th, 2012, 7:52am MST
One study puts the overall economic cost of painkiller abuse at more than $70 billion a year. Pill addicts who shop around for doctors to score prescriptions cost insurers $10,000 to $15,000 apiece. The toll in lost productivity: $42 billion. The criminal justice bill: $8.2 billion. It all adds up. -
Starting from scratch at 50: Rebuilding savings
Posted: February 24th, 2012, 7:50am MST
My wife and I are almost 50 and just started working again after being out of the job market for two years. Basically we have nothing left. How do we start to build again? -- Tony, Allentown, Penn. -
Stocks open higher ahead of economic data
Posted: February 24th, 2012, 7:41am MST
U.S. stocks ended mixed Friday, with the Dow and S&P holding near their highest levels since 2008, as investors digested reports on consumer sentiment and home sales. -
Health care reform isn't a job killer - yet
Posted: February 24th, 2012, 6:21am MST
The most sweeping provisions of the president's health care reform are already affecting small businesses. Some firms are holding back spending, while others are expecting growth fueled by tax credits. Few, though, have stopped hiring. -
Gas prices jump 12 cents in past week
Posted: February 24th, 2012, 6:05am MST
Gas prices have gained 12 cents this week, as tensions over Iran heat up and oil prices keep moving higher. -
Stocks: Eyes on the economy
Posted: February 24th, 2012, 4:36am MST
U.S. stocks were set for a higher open Friday, tracking gains in global stock markets, as investors awaited another round of economic data and corporate results. -
GINGRICH'S $2.50 GAS
Posted: February 24th, 2012, 4:23am MST
Gas prices are on the rise, and so like clockwork, a cadre of politicians are now selling the promise of lower prices at the pump. -
Housing chief defends mortgage settlement
Posted: February 24th, 2012, 4:20am MST
Shaun Donovan is the Secretary of the U.S. Department of Housing and Urban Development. -
A $100 solar-powered tablet is coming soon
Posted: February 24th, 2012, 4:18am MST
Tune in to CNN's The Next List at 2 p.m. ET on Sunday to see a 30-minute profile of Yves Behar. For extended coverage of innovators and visionaries, check out The Next List's What's Next blog. -
4 ways to stave off the cell phone apocalypse
Posted: February 24th, 2012, 3:59am MST
This is part four of a week-long series the cell phone capacity crunch. -
Michigan's incredible shrinking workforce
Posted: February 24th, 2012, 3:38am MST
As the presidential race moves to Michigan for next week's primary, a lot of focus is on the state's economy -- one of the hardest-hit by the recession. -
Comedian gives $1M to pro-Obama Super PAC
Posted: February 24th, 2012, 3:17am MST
Comedian Bill Maher is putting his money where his mouth is. -
Bank of America to freeze pension plans
Posted: February 23rd, 2012, 5:31pm MST
Bank of America announced plans Thursday to freeze pension plans, effective in July, and increase its 401(k) contributions instead. -
35,000 Postal Service jobs on the chopping block
Posted: February 23rd, 2012, 4:06pm MST
The U.S. Postal Service announced on Thursday new plans to consolidate or close 223 mail processing plants, putting 35,000 jobs at stake starting in late May or June. -
Inside Google's recruiting machine
Posted: February 23rd, 2012, 4:06pm MST
FORTUNE -- In the hot war for talent now being fought in Silicon Valley, no company has an arsenal quite like Google's. Named Fortune's Best Company to Work For in 2012, the search giant made a record 8,067 hires last year -- boosting its total headcount by a third. The thirteen-year-old firm's recruiting has an almost mythical quality, particularly for the two million candidates applying to work there each year. In terms of elite American institutions, getting a job at Google ranks with being admitted to Stanford Business School or becoming a Navy Seal. Behind the glitz there are a few Googley basics at work: data, money (lots of it), sophisticated programming, and an army of young, eager recruiters. -
Procter and Gamble cutting 5,700 jobs
Posted: February 23rd, 2012, 2:49pm MST
Procter & Gamble announced plans Thursday to cut 5,700 positions globally by June of next year. In a presentation to the Consumer Analyst Group of New York, Procter & Gamble CEO Bob McDonald and CFO Jon Moeller said the cuts were part of a plan to save $10 billion in costs by 2016. -
Big Three automakers face tough times in China
Posted: February 23rd, 2012, 1:06pm MST
No one can be blamed for forgetting Big Trouble in Little China, the 1986 adventure-comedy flop starring Kurt Russell. But U.S. automakers may be starring in its soon-to-be panned sequel: Big Trouble in Big China, with Dan Akerson, Alan Mulally, and Sergio Marchionne in leading roles. -
Money market funds dip back into eurozone debt
Posted: February 23rd, 2012, 12:45pm MST
After three years of rapidly unwinding holdings in banks that share the euro currency, U.S. money market funds have dipped back in. -
Sears' survival plan sends stock surging
Posted: February 23rd, 2012, 12:19pm MST
Sears posted a massive loss Thursday, but it's betting on a new set of initiatives to help turn things around...and put bankruptcy rumors to rest. -
3 GOP candidates would add to deficits
Posted: February 23rd, 2012, 12:14pm MST
Newt Gingrich's economic plan would do a lot of things. But reducing the debt and balancing the federal budget aren't among them. -
Lin files to trademark 'Linsanity'
Posted: February 23rd, 2012, 11:59am MST
Linsanity Lincorporated? -
30-year mortgage rate rises above record low
Posted: February 23rd, 2012, 11:57am MST
The 30-year fixed mortgage rate rose for the first time in four weeks, relinquishing its all-time record low amid news that the housing market is showing some signs of improvement. -
States to manufacturers: We want you ASAP!
Posted: February 23rd, 2012, 11:56am MST
Betting on a resurgence in manufacturing, states are aggressively rolling out the red carpet to businesses to set up shop or expand production within their borders. -
The corporate tax myth
Posted: February 23rd, 2012, 11:39am MST
U.S. corporations pay one of the highest tax rates in the world. There's little debate about that. -
IRS has $1 billion in unclaimed tax refunds for 2008
Posted: February 23rd, 2012, 11:06am MST
If you still haven't filed your 2008 tax return, you could be missing out on some serious cash. -
The U.S. should do more to lure Chinese investment
Posted: February 23rd, 2012, 10:42am MST
Compare the way Ireland welcomed China's vice president to the way the U.S. did. Which country would you rather invest in? -
700,000 T-Mobile customers flee for iPhone
Posted: February 23rd, 2012, 9:23am MST
It hurts to be the only national carrier that doesn't sell the iPhone. -
Why lower corporate tax rates won't help the U.S.
Posted: February 23rd, 2012, 8:42am MST
Studies suggest that lower tax rates won't boost corporate investment or the economy. -
The corporate tax 'shell game'
Posted: February 23rd, 2012, 8:30am MST
It sounds great. -
RECOVERY KILLERS
Posted: February 23rd, 2012, 8:11am MST
Since the economy dropped off a cliff in 2008, members of Congress have not exactly been shy about casting blame for no-or-slow growth on a variety of bureaucrats, outside institutions and Wall Street power players. -
Saving U.S. manufacturing jobs
Posted: February 23rd, 2012, 8:07am MST
Howard Wial is a fellow for the Brookings Institution Metropolitan Policy Program. -
Crazy ways to get hired
Posted: February 23rd, 2012, 7:55am MST
When it comes to hiring, these small business owners have remarkable stories about employees going the creative distance to nail the jobs. -
Stocks edge lower at the open
Posted: February 23rd, 2012, 7:51am MST
U.S. stocks closed higher Thursday, as investors digested better-than-expected economic news. -
Sears stock spikes 14%
Posted: February 23rd, 2012, 7:42am MST
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Social Security set for $300 billion hit
Posted: February 23rd, 2012, 7:40am MST
Inflationary fallout from the Arab Spring pushed up payouts to Social Security beneficiaries, leaving an already troubled system in even worse financial shape. -
Jobless claims stick at nearly four-year low
Posted: February 23rd, 2012, 6:43am MST
First-time claims for unemployment benefits were unchanged -- at a relatively low level -- last week, in another sign of strength for the U.S. economy. -
Gas price surge: Up 10% this year
Posted: February 23rd, 2012, 6:38am MST
Gas prices are surging, and quickly headed toward $4 a gallon, as growing tensions over Iran sparks a run-up in oil prices. -
Odds are against an Apple dividend
Posted: February 23rd, 2012, 6:11am MST
The company is likely to hold on to its $100 billion cash hoard -- at least for now. -
Philips' winning design
Posted: February 23rd, 2012, 4:59am MST
From cushy, blood-red headphones to MRI scanners, here are the products that have earned Philips a coveted spot among Apple and BMW in the design world. -
Check out gas prices in your state
Posted: February 23rd, 2012, 4:56am MST
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Report: Court rejects ban on iPad sales in China
Posted: February 23rd, 2012, 4:46am MST
A hail-Mary legal play to ban the sale of iPads in Shanghai -- a city of 23 million with three Apple stores -- has failed, according to a Reuters report that crossed the wires early Thursday morning. -
Economic optimism to boost stocks
Posted: February 23rd, 2012, 4:43am MST
U.S. stocks were headed for a slightly higher open Thursday, on the back of strong European economic data. -
Dr. Oz: The best advice I ever got
Posted: February 23rd, 2012, 4:30am MST
"Keith Reemtsma was chairman of the department of surgery at Columbia University when I came to New York. He had served in Korea, and the lore is that he's the person behind the character Hawkeye in M*A*S*H. He made me chief resident and mentored me on how to be a leader. He said the hard part of leadership was keeping smart people from killing each other -- you had to make everyone feel special. People at my level were ambitious, vying for positions. He'd take your strength and find a place you could emphasize it, so it wouldn't seem as if you were competing directly with one another. -
Hydrogen fuel cell vehicles join the Army
Posted: February 23rd, 2012, 4:26am MST
The United States Army is looking at hydrogen fuel cell vehicles hoping that sometime in the near future they'll play some important military roles, maybe even on the battlefield. -
Curate your own personal shopping catalog
Posted: February 23rd, 2012, 4:22am MST
What do flaming baked Alaska cupcakes, a sci-fi floating hot tub, and a hammock dog bed have in common? They're all items that hundreds of users have "Fancy'd" on a site called The Fancy. -
Why your cell phone bill is going up
Posted: February 23rd, 2012, 4:06am MST
This is part three of a week-long series on the cell phone capacity crunch. -
Million-dollar foreclosures rise as rich walk away
Posted: February 23rd, 2012, 3:56am MST
Five years after the housing bubble burst, America's wealthiest families are now losing their homes to foreclosure at a faster rate than the rest of the country -- and many of them are doing so voluntarily. -
79% of fund managers didn't beat the S&P
Posted: February 23rd, 2012, 3:25am MST
They may dress better than average, but they usually don't invest that way: Last year 79% of large-cap fund managers trailed the Standard & Poor's 500-stock index, says Morningstar -- the worst showing since 1997. -
Fear of Iran is inflating gas prices
Posted: February 23rd, 2012, 3:16am MST
Tensions over Iran's nuclear program are adding at least 30 cents a gallon to gasoline in a market that's not especially short-supplied. An attack could see gas prices above $5. -
White House pushes online privacy bill of rights
Posted: February 23rd, 2012, 3:03am MST
The Obama administration on Thursday plans to unveil a new online bill of rights intended to protect consumers' privacy when they surf the Web. -
A $2 MILLION MISTAKE
Posted: February 22nd, 2012, 4:14pm MST
What's the cost of a $4 billion gamble gone wrong? -
PC slump kills HP and Dell's bottom lines
Posted: February 22nd, 2012, 2:26pm MST
Maybe HP wants to rethink that whole "we're not getting rid of the PC" decision? -
Judge tosses another claim in Madoff case
Posted: February 22nd, 2012, 12:33pm MST
In another blow to the trustee in the Bernard Madoff case, a federal judge threw out a $20 billion lawsuit attempting to recover more of the stolen funds. -
ROMNEY'S TAX CUT PLAN
Posted: February 22nd, 2012, 12:22pm MST
In a switch to a more aggressive tax plan, Mitt Romney said Wednesday that he now favors cutting marginal tax rates for individuals by 20%. -
Greece deal pits investors against the government
Posted: February 22nd, 2012, 10:41am MST
The Greek bailout could keep investors from making additional sovereign debt purchases, further exacerbating the crisis. -
Obama: Slash corporate tax breaks
Posted: February 22nd, 2012, 10:16am MST
After more than a year in the making, the Obama administration on Wednesday released its plan to overhaul the corporate tax code. -
Bringing Philips back from the brink
Posted: February 22nd, 2012, 10:03am MST
FORTUNE -- When Sean Carney, the new Chief Design Officer at Royal Philips Electronics, walks into a boardroom with other C-suite executives, he likes to offer what he calls a "sanity check." He defines this as plunking down an award-winning object such as a set of cushy, blood-red headphones, say, or a sleek-looking necklace hiding a sensor that detects when an elderly patient has fallen and alerts caregivers. "First, you start these meetings with endless PowerPoint presentations and Excel files. So then I'll drag out a product and say, 'this is why we're here; this is what's driving sales,'" says Carney, who is based in the Netherlands. -
Honda recalls 46,000 Odyssey minivans
Posted: February 22nd, 2012, 9:16am MST
Honda is recalling 46,000 Odyssey minivans because their power tailgates, when open, can drop unexpectedly, potentially injuring anyone standing underneath. -
CHEAPEST HOMES SINCE 2001
Posted: February 22nd, 2012, 8:48am MST
Home prices fell to their lowest point in more than a decade in January, but that helped to lift the pace of home sales, according to a report from an industry trade group. -
NEW BANK FEE PROBE
Posted: February 22nd, 2012, 8:23am MST
The new consumer bureau said Wednesday that it plans to target a kind of bank fee that makes customers see red: Overdraft protection penalty fees on checking accounts. -
Opening a savings account for your child
Posted: February 22nd, 2012, 8:22am MST
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Stocks slump in early trading
Posted: February 22nd, 2012, 8:16am MST
U.S. stocks drifted lower Wednesday amid doubts over the latest bailout for Greece and concerns about global economic growth. -
Falling victim to your job's low expectations
Posted: February 22nd, 2012, 7:28am MST
If you aspire to become a great manager, simply striving to meet your company's actual (versus espoused) standards probably won't get you there. -
Hillary Clinton to Big Business: Cough it up!
Posted: February 22nd, 2012, 7:00am MST
The Secretary of State wants American companies to focus their efforts -- and their cash piles -- on spurring job growth by investing at home and abroad. -
China manufacturing rises to 4-month high
Posted: February 22nd, 2012, 6:00am MST
Chinese manufacturing continues to grow at a slow pace, edging up to a 4-month high in February, according to a preliminary report issued Wednesday. -
3 small companies take on the big boys
Posted: February 22nd, 2012, 5:41am MST
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Battle over cell phone chips heats up
Posted: February 22nd, 2012, 5:00am MST
FORTUNE -- The battle for the teeny-tiny chips that power cell phones is heating up. Santa Clara, Calif.-based chipmaker Nvidia just announced the ZTE Mimosa X, the first phone that runs on its Tegra 2 processor and an Nvidia-made modem chip (and quite possibly the first phone named after an alcoholic beverage). -
Comcast hasn't become Netflix -- yet
Posted: February 22nd, 2012, 4:59am MST
FORTUNE -- Put "Comcast" and "streaming" together in a press release and predictably, reports will proliferate that the cable giant is taking on Netflix. It isn't. -
Investors sidelined by Greece worries
Posted: February 22nd, 2012, 4:53am MST
U.S. stocks were poised for a slightly lower open Wednesday, as investors question whether Greece's newest bailout will be effective. -
Apple and Proview trademark battle in Shanghai
Posted: February 22nd, 2012, 4:39am MST
The world's most valuable company and a troubled Chinese electronics manufacturer that's about to be delisted from the Hong Kong stock exchange unless it can come up with some cash squared off in a Shanghai courtroom Wednesday. -
The iPhone is (still) saving the mobile industry
Posted: February 22nd, 2012, 4:12am MST
FORTUNE -- The iPhone has been, by many measures, one of the most successful products in business history. Nearly 200 million iPhones have been sold in four and a half years, 37 million of them in the last three months of 2011. Apple's market cap has soared from $104 billion in June 2007, when the first iPhone was sold, to $480 billion today. -
Fannie, Freddie legal tab: $110 million and counting
Posted: February 22nd, 2012, 4:11am MST
A watchdog agency said Wednesday that the legal tab for former leaders of mortgage finance giants Fannie Mae and Freddie Mac is at least $110 million. -
More Americans plan to save their tax refund
Posted: February 22nd, 2012, 4:00am MST
Americans are going to be a lot more tightfisted with their tax refunds this year, with more people planning to save the cash they get back from Uncle Sam instead of spending it. -
Economy in recovery? Not so fast
Posted: February 22nd, 2012, 3:51am MST
Employers are hiring, manufacturing is revving up and stocks are rallying. It looks like the recovery could finally be taking hold. The economic recovery feels a lot like early 2011, when many of the same green shoots were driving optimism. But that didn't last long. -
Fighting back in a tough economy
Posted: February 22nd, 2012, 3:42am MST
It's been more than four years since the financial crisis first knocked you back on your heels. You've probably been on the defensive ever since, doing your best to deflect whatever punches the economy has thrown your way. Of course, the trick to any good rope-a-dope strategy is to sit back and let your opponent tire out before you unleash your own flurry of blows. -
The spectrum war's winners and losers
Posted: February 22nd, 2012, 3:22am MST
This is part two of a week-long series on the cell phone capacity crunch. -
Obama to offer corporate tax reform plan - CNN
Posted: February 22nd, 2012, 3:05am MST
Treasury Department will unveil President Barack Obama's corporate tax reform plan on Wednesday that will reduce the overall corporate tax rate, an senior administration official told CNN. -
Obama to offer corporate tax plan - CNN.com
Posted: February 21st, 2012, 5:33pm MST
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Chris Christie to Warren Buffett: Just 'shut up'
Posted: February 21st, 2012, 5:26pm MST
Outspoken New Jersey Gov. Chris Christie had some rather harsh words for billionaire investor Warren Buffett on Tuesday. -
Alibaba wants to take Web unit private
Posted: February 21st, 2012, 3:58pm MST
Chinese Internet giant Alibaba, which has been in the headlines lately for its tussles with stakeholder Yahoo, wants to take its publicly traded Web portal private. -
Johnson & Johnson CEO resigns after missteps
Posted: February 21st, 2012, 3:48pm MST
Johnson & Johnson CEO Bill Weldon, will step down in April, the pharmaceutical giant announced Tuesday. -
CRISIS AVERTED - FOR NOW
Posted: February 21st, 2012, 2:51pm MST
Once again, Greece appears to have been snatched back from the brink of default with the promise of more bailout money. -
Fake Pokemon app becomes Apple bestseller
Posted: February 21st, 2012, 2:32pm MST
A scam Pokemon game reached No. 2 on Apple's App Store charts this week before it was pulled -- a debacle that calls into question both Apple's approval process and Nintendo's "no apps for us" stance. -
Can I use my IRA to buy an apartment building?
Posted: February 21st, 2012, 1:55pm MST
Can I purchase an apartment building as an investment with the money I have in my IRA? -- Bernie Sauer, Detroit Lakes, Minnesota -
BlackBerry PlayBook 2.0 finally gets email
Posted: February 21st, 2012, 11:49am MST
Research in Motion has finally launched a much-needed update to the PlayBook tablet, which now includes built-in features like email and calendar. -
Microsoft: Google violates our users' privacy too
Posted: February 21st, 2012, 11:28am MST
Last week, Google was caught circumventing Apple's Safari browser privacy settings. Microsoft chimed in Monday with a "me too" complaint, saying that Google is also dodging around Internet Explorer's privacy settings. -
Goldman's A-list of leaders
Posted: February 21st, 2012, 10:17am MST
Speculation has heated up that Lloyd Blankfein could step down as Goldman Sachs CEO as soon as this summer. Blankfein is one of the only big bank chiefs who kept his job after the financial crisis, but many corporate governance experts believe a changing of the guard could go a long way toward helping the nation's biggest financial institutions repair their reputations. Sources tell Fortune that president and chief operating officer Gary Cohn is the lead candidate to replace him. Blankfein isn't the only leader to see Goldman Sachs through booms and busts. Here is a quick look at the executives who have shaped the investment bank for more than four decades. -
Barnes & Noble unveils $199 Nook Tablet
Posted: February 21st, 2012, 9:26am MST
Barnes & Noble will sell a cheaper version of its Nook Tablet for $199, the same price as Amazon's Kindle Fire tablet. -
Hard-hit firm makes a million
Posted: February 21st, 2012, 9:15am MST
Rosana Santos Calambichis was only two years into operating her business Big Chef, a Hollywood, Fla., frozen-food company, when it was hit by Hurricane Wilma in 2005. -
Greek bailout is back in private sector hands
Posted: February 21st, 2012, 9:04am MST
It looks like Greece will avoid an outright default in the short run now that eurozone finance officials have signed off on a second bailout for the debt-stricken nation. -
Stocks flip flop following Greek deal
Posted: February 21st, 2012, 8:13am MST
U.S. stocks stumbled into the close Tuesday, shaking off a modest morning rally ignited by news of that eurozone deal to help Greece avoid defaulting on its debt. -
5 budget assumptions that won't happen
Posted: February 21st, 2012, 7:49am MST
From Medicare savings to tax revenues, the latest budget from President Obama includes scenarios that almost certainly will never play out. -
THE SPECTRUM CRUNCH
Posted: February 21st, 2012, 7:12am MST
This is part one of a week-long series on the cell phone capacity crunch. -
Wal-Mart's holiday disappoints investors
Posted: February 21st, 2012, 6:00am MST
Wal-Mart Stores, the world's largest retailer, finished the biggest quarter of its fiscal year with a mixed picture. -
Apple doubles addressable market in China
Posted: February 21st, 2012, 5:07am MST
China Telecom, the country's No. 3 carrier and No.1 Wi-Fi provider, gets the iPhone. -
Stocks set to gain after Greece deal
Posted: February 21st, 2012, 4:13am MST
U.S. investors finally can consider an actual deal to help Greece avoid default when trading begins Tuesday. -
Cars that talk to each other could save lives
Posted: February 21st, 2012, 4:09am MST
Consumer Reports magazine announced its support Tuesday for vehicle-to-vehicle technology that will allow automobiles to communicate with each other electronically, potentially saving thousands of lives. -
Driverless cars are sneaking up on you
Posted: February 21st, 2012, 4:07am MST
If you're waiting for the promised "driverless car" to suddenly appear on America's roadways, it's not going to happen that way. -
5 ways to escape middle-management hell
Posted: February 21st, 2012, 3:37am MST
Tired of responsibility without rewards? The best way to get out is to strike out on your own. -
Doctors are accepting local currencies
Posted: February 21st, 2012, 3:34am MST
When a doctor spotted a lump on Alisha McNamara's lungs earlier this year, she and her husband Michael started panicking. -
Multi-million dollar foreclosures
Posted: February 21st, 2012, 3:31am MST
Even these mega-mansions in some of America's wealthiest neighborhoods are not immune to the housing crisis. -
Consumer bureau targets fine print
Posted: February 21st, 2012, 3:09am MST
The country's new Consumer Financial Protection Bureau is taking aim at big financial firms and small print, while itself enduring fire inside the Beltway. -
GREECE GETS ITS BAILOUT
Posted: February 21st, 2012, 3:04am MST
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Greece's fate uncertain as bailout talks drag on
Posted: February 20th, 2012, 3:54pm MST
Eurozone finance officials remained behind closed doors late Monday as a crucial round of talks over a second bailout for Greece looked set to run late into the night. -
A third-party deficit hawk for president?
Posted: February 20th, 2012, 2:25pm MST
In the not-so-distant past, a crusading third-party presidential candidate ran a grass-roots, national campaign on a platform of fiscal responsibility and balanced budgets. -
How would you reform taxes?
Posted: February 20th, 2012, 11:47am MST
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Ron Paul's Silicon Valley backer
Posted: February 20th, 2012, 10:08am MST
Silicon Valley renaissance man Peter Thiel donated another $1.7 million in January to a super PAC that backs Ron Paul, according to disclosure documents filed Monday. -
Manufacturing: Not a magic pill for the economy
Posted: February 20th, 2012, 9:32am MST
Michael W. Klein is a professor at Tuft University's Fletcher School and a Non-Resident Senior Fellow in Economic Studies at The Brookings Institution. Klein recently served as chief economist for the Office of International Affairs at the U.S. Treasury in the Obama Administration. -
IS $4 GAS COMING SOON?
Posted: February 20th, 2012, 8:06am MST
Oil prices rose Monday after Iran cut exports to Britain and France, raising worries that higher gas prices may follow suit. -
Ease your way into retirement (on your own terms)
Posted: February 20th, 2012, 7:37am MST
At age 60, Kathy Frederick routinely put in 50 hours a week as a hospital administrator for Scripps Health Systems in San Diego. She managed a 15-person staff, and regularly took work home on week-ends -- until one day five years ago she decided enough was enough. "I wasn't ready to retire," says Frederick, "but after 18 years at that pace, I wanted a different challenge and more time for myself." -
Two-thirds of young Americans own smartphones
Posted: February 20th, 2012, 7:10am MST
"Whether or not you have a smartphone is closely related to both how old you are and how much money you make," finds a Nielsen survey of 20,000 Americans with mobile phones conducted in January. -
China boosts world markets
Posted: February 20th, 2012, 6:22am MST
China's move to keep its economy going lifted stock markets around the world Monday, as investors wait to see if Greece will secure a second bailout. -
The story behind a famous Steve Jobs photo
Posted: February 20th, 2012, 4:00am MST
The story behind Norman Seeff's iconic Steve Jobs photo. "We were two guys goofing off having fun," he recalls 28 years later. -
The other foreclosure settlement: Millions eligible
Posted: February 20th, 2012, 3:31am MST
Millions of borrowers who suffered financial losses because their mortgage lenders played fast and loose while processing their foreclosures now have two ways of getting a payback. -
EUROPE'S BIG TEST
Posted: February 20th, 2012, 3:14am MST
European stocks have rallied this year on hopes that a full-blown contagion can be avoided, but the outlook remains fraught with risks, not the least of which is what might happen with Greece. -
RISKS TO THE STOCK RALLY
Posted: February 19th, 2012, 8:01am MST
Can the market sustain its rally, or will prospects of a Greek default shatter investors' risk appetite? Those are the key questions on investors' mind ahead of a three-day weekend for the U.S. markets. -
China eases bank restriction to boost growth
Posted: February 18th, 2012, 1:01pm MST
China's central bank said it would cut the amount banks must hold in reserve, a step toward boosting lending and maintaining strong economic growth. -
Angry Birds heads for outer space
Posted: February 17th, 2012, 3:19pm MST
Move over, Jupiter: Angry Birds is hitting the galaxy. -
Linsanity sparks MSG-Time Warner Cable deal
Posted: February 17th, 2012, 3:13pm MST
Linsanity rules again. -
Blankfein out as Goldman Sachs CEO by summer?
Posted: February 17th, 2012, 2:20pm MST
Goldman Sachs prepares for life after Lloyd Blankfein, and Gary Cohn is the leading candidate to succeed him as CEO. -
White House predicts 2 million more jobs in 2012
Posted: February 17th, 2012, 2:08pm MST
The United States economy is on the road to recovery, the White House said Friday, with stronger job growth expected this year. -
Postal Service seeks 50-cent stamps
Posted: February 17th, 2012, 2:06pm MST
A nickel boost in the first-class stamp price to 50 cents is part of the U.S. Postal Service's latest plan to stop bleeding red ink. -
Google caught skirting Safari privacy settings
Posted: February 17th, 2012, 2:04pm MST
In the latest high-profile flap over online data privacy, Google has been caught bypassing the privacy settings on Apple's Safari Web browser, letting advertisers track users in unintended ways. -
Banks get no free money in mortgage deal
Posted: February 17th, 2012, 1:39pm MST
The reflex to call anything that involves the banks and the government a bailout mostly misses the mark in the new foreclosure settlement. -
SEC charges tech analyst with insider trading
Posted: February 17th, 2012, 1:17pm MST
Technology analyst John Kinnucan was arrested Thursday on allegations of trading on information about many of the nation's leading tech companies, resulting in illicit gains of nearly $110 million.