Obama pressures banks as talks loom at White House
President Obama urges bank executives to back tighter financial industry rules while bankers promise to push back on oversimplified criticisms. An hourlong White House meeting with top lenders aims to move discussions beyond blame, highlighting support for reform and firmness on lending practices.
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Avatar big budget spectacle joins Hollywood risk tradition
New York notes that Cameron’s Avatar, with total costs near half a billion including marketing, embodies the grand risky expense of Hollywood spectacles. The piece places Avatar among epic bets like Titanic and Waterworld, highlighting budget overruns, massive promotion, and the potential for stratospheric success or quick failure.
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Exxon Mobil bets on natural gas expansion in energy shift
Exxon Mobil agreed to acquire XTO Energy in an all stock deal worth 29 billion dollars with a 25 percent premium. The move signals a major shift toward natural gas as a cleaner energy source amid climate policy talks in Copenhagen and a push to reduce coal reliance.
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Invacare Shares Drop After Stifel Downgrade
Invacare Corp stock fell about 3.3 percent after Stifel Nicolaus analyst Eric Gommel downgraded the Elyria home medical equipment maker to Hold from Buy citing valuation. He raised 2010 and 2011 earnings estimates on debt repayment and cost relief from a weaker dollar, but warned of near term catalysts and headwinds from competitive bidding in 2011 and beyond.
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