Chriss W. Street

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Hollywood Studios Hit With Multi-Billion Dollar Class-Action Labor Suit

The Walt Disney Co., DreamWorks Animation, Digital Domain, Pixar, Lucasfilm and Sony Pictures are among the defendants in a new multi-billion dollar class-action suit contending that Hollywood studios and their vendors conspired to suppress tech workers’ wages through secret “non-poaching” agreements. Sep 15, 2014 4:51 AM PT

America's 2nd Largest Newspaper Chain Tries for Quick Sale

Digital First Media, the New York owner and operator of the nation’s second-largest newspaper chain, announced Friday that it will “evaluate and consider strategic alternatives” that could lead to a quick sale of some or all of the hedge fund-sponsored company. Sep 13, 2014 12:46 PM PT

Genentech's Former CEO and Google to Try Curing Parkinson's Disease

Calico, a company led by former Genetech CEO Art Levinson and backed by Mountain View-based Google Inc. said on September 11th that it had inked a $1.5 billion, 10-year research and commercialization deal with AbbVie Inc. to develop treatments for Parkinson’s and Lou Gehrig's disease, plus treat traumatic brain injury., according to a report by the San Francisco Business Times. Sep 12, 2014 4:49 AM PT

With iPhone 6 Discounting, 'Apple Pay' Better be a Blockbuster

The highly respected Pacific Crest Securities downgraded Apple stock on September 10th, citing stagnant iPhone growth, “lack of compelling features” on the new Apple Watch, and not enough investment “potential for upside (earnings) estimates.” Sep 11, 2014 6:10 PM PT

Hispanic Millennials Key to 28% of California Vote

Latinos represent the fastest growing segment of California’s population and its electorate. In August, Univision released a survey, “Winning with Hispanics in the Midterms: The Why, The How and the What” that showed Latinos comprise 28% of the Golden State’s eligible voters and 24% of its registered voters. The poll found that about a quarter of Hispanic voters in California are age 18 to 34--i.e., millennials. Because this fast growing demographic disproportionately influences their parents' politics, Hispanic millennials are the key to up to 28% of the California vote. Sep 11, 2014 1:18 PM PT

Scottish Independence Could Be Like the Break Up of Soviet Union

Some polls now show a slim majority of Scotland voters intending to vote on September18th for independence from the United Kingdom after 300 years of political union. Such an action would destroy the post-World War II doctrine of the inviolability of European borders. When this doctrine weakened in the Soviet Union, a super power rapidly disintegrated. Sep 10, 2014 1:06 AM PT

Apple Stock Loses $38 Billion at iPhone 6 Event in Just One Hour

Following Tim Cook’s goofy performance in San Francisco last June at the Apple Worldwide Developers Conference, the performance at today’s supposed big iPhone 6 launch at the Flint Center for the Performing Arts in Cupertino, California was an even bigger yawn. In response to the iWatch introduction as the extravaganza’s “One More Thing” finale, Apple’s stock lost $38 billion in value in just one hour. Sep 9, 2014 1:01 PM PT

IPO Market Partying Like It's 1999 All Over Again

With Chinese Internet behemoth Alibaba being preliminarily valued at $165 billion as it prepares for its initial public offering (IPO), it seems that investors are playing the same type of dangerous game they played in 1999. Sep 7, 2014 4:55 AM PT

Tesla's Bait and Switch to Nevada for Gigafactory

After all the hokey-pokey about how committed Tesla is to California, the company chose Sparks, Nevada to manufacture batteries at its new 26 acre “Gigafactory” where it is already laying a foundation, according to a CNBC report citing the Nevada Governor’s office. In locating in Nevada, Tesla will continue to get rich California subsidies, but avoid paying tax to support those subsidies. Sep 5, 2014 6:21 AM PT

iCloud Hack Threatens Launch of iPhone 6 and Apple Wallet

Apple Inc. was mildly embarrassed on September 2nd that private celebrity nude photographs and videos, including those with Jennifer Lawrance and Kate Upton, were allegedly hacked from iCloud accounts and then went viral after being posted online. But Apple, Inc. stock plunged 4.2% on September 3 when concerns started to grow that Apple’s new mobile payment system that will operate on the iCloud might be undermined by security risks, just as it is about to be introduced at the September 9 launch of Apple’s iPhone 6. Sep 5, 2014 3:20 AM PT

Russia, China Begin Joint Construction of Massive Energy Pipeline

China faces an existential threat to their export-based economy due to high energy costs, and Russia faces an existential threat to their energy-based economy due to crippling Western financial sanctions. By agreeing to jointly build the “Power of Siberia” as the world’s largest energy pipeline, Russia and China are reviving their economic and military relationship that imploded with the fall of the Soviet Union. Sep 1, 2014 3:42 PM PT

America's Oil Boom Overwhelms Global Production Decline

The United States, sometime in the first quarter of 2014, passed Saudi Arabia to become the world’s largest producer of petroleum liquids, with daily output exceeding eleven million barrels per day (bpd), according to the International Energy Agency. Growth from January 2011 to July 2014 included three million bpd of crude oil and another one million bpd of hydrocarbon gas liquids and biofuels. U.S. crude oil production growth more than offset the 2.8 million bpd of global “unplanned supply disruptions” associated with the “Arab Spring.” Aug 31, 2014 12:03 PM PT

United States Second Quarter Profits Up 8%, GDP Up 4.2%

The United States second quarter corporate profits zoomed up 8%, and the national gross domestic product gained 4.2%, according to a revised release by the Commerce Department. Despite Europe's perpetual recession, Asia's stumbling, and South America's defaults, the United States economy is partying like it's 1999 again. Aug 28, 2014 12:43 PM PT

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