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Web Whizzes Renovate Rickety Sites to Flip for Profit

Real-estate 'turn-over' tactics move to Internet

(Newser) - Web entrepreneurs are taking a page from the real-estate book: they’re buying badly designed websites cheaply, fixing them up, and selling them at a profit. Website sales on eBay and similar sites have soared in the past few months, with many site-flippers happy to sell for just a few... More »

Green Cafe's Crowdsourcing Doesn't Spoil the Stew

DC eatery relies on the masses to define it

(Newser) - When Elements, a vegetarian and raw food restaurant, opens in DC next year, it will have one owner, but almost 400 people who conceived and developed the idea, the Washington Post reports. An online (and offline) community is helping with everything from designing a logo to greening the building. But... More »

New Stadium Strikes Fear in Mets Foes

New stadium, opening next year, will open financial 'chasm' for other NL teams

(Newser) - National League teams visiting Shea Stadium this summer can’t help looking past the outfield with fear at the New York Mets’ new home, Citi Field, which opens next year. “It is the ballpark that could make the Mets financially untouchable,” Rich Hofmann writes in the Philadelphia Daily ... More »

Yoga Turning B-Schoolers on Their Heads

Capitalists latch on to search for inner peace

(Newser) - Inner peace through capitalism? Americans spend $5.7 billion a year on yoga classes and products, and now, BusinessWeek reports, yoga clubs are cropping up in some of the country's most high-pressured institutions: top business schools. "Having a yoga practice helped sort through the white noise," one MIT... More »

CNBC Focuses on Fresh Face of Biz News

Erin Burnett's network tests new formula for creating a star

(Newser) - Since Jim Cramer and Maria Bartiromo became breakout stars for CNBC, the network has been trying to cultivate more of the sort of talent that draws a devoted viewership. Erin Burnett, 32, has enjoyed one of those carefully crafted career trajectories, moving from writer to co-anchor in just weeks. The... More »

'Media Titan' Moves in Small (Even Empty) Websites

Little-known Internet player hitting the big time with simple idea

(Newser) - Richard Rosenblatt doesn’t work in Silicon Valley and few people, even there, know his name. But in just 2 years his Demand Media has become a huge player, backed by $355 million in private investment, and pulling in nearly $200 million in revenue this year, the Los Angeles Times... More »

Corporate America Tries to Chip Away at Lawyer Bills

With first $1B legal charge on horizon, companies create new fee structure

(Newser) - With corporate legal fees skyrocketing to unprecedented heights—the median amount big companies forked over per outside lawyer in 2007 was more than $600,000—firms are moving to exert some measure of control, Portfolio reports. Some of America’s biggest businesses are taking dramatic steps, like trading long-term agreements... More »

High Prices Pound Gas Stations

Squeezed margins drive many out of business

(Newser) - Angry at gas stations for profiting on your financial misery? Think again, the Wall Street Journal reports: They're fast going out of business as oil prices rise. This year's 40% price hike has sent costs soaring, shuttering 3,000 US stations and causing Exxon Mobile to announce the sale of... More »

NYC Biz Leaders Search for Next Mayor/CEO

Bloomberg's city-as-business style likely hard to replicate

(Newser) - New York Mayor Michael Bloomberg will vacate his office in 18 months, the New York Times reports, and local business honchos are already hunting for a replacement candidate who shares Bloomberg's financial independence and city-as-a-business approach. "What the business community wants is not just a businessman but a Bloomberg-type... More »

Minutes Dwindle for Networks' War Coverage

Bureaus cut amid financial concerns; political primary blots out other stories

(Newser) - Middle East correspondents are struggling to get stories on the nightly news as TV networks scale back war coverage, the New York Times reports. With violence in Iraq declining and the US public tiring of an open-ended conflict, network execs have focused on hot topics like the contentious presidential primaries.... More »

Broker Breaks Ranks to Rant on Profession's 'Gibberish'

Anonymous London columnist goes public

(Newser) - A London broker who wrote a popular, anonymous newspaper column that lambasted the greed, superficiality, and "gibberish"-peddling nature of his profession is going public, quitting the financial world, and, of course, writing a book about it all, Bloomberg reports. “We didn't invent greed,” said Geraint Anderson,... More »

US, S. Korea Reach Beef Deal

Imported US meat must come from cattle younger than 30 months

(AP) - All US beef imported into South Korea will come from cattle less than 30 months old, officials said today, in a deal made to placate South Korean protesters worried about mad cow disease. Nonetheless, thousands of protesters returned to the streets of Seoul, calling for a complete renegotiation of an... More »

Stealing Home: Five Signs It's Time to Lowball

Forget the market and climb inside the seller's head

(Newser) - It's not always the economy, stupid. Even in a weak market, buyers should consider a homeowner's situation before hurling a lowball bid, writes Daniel McGinn in Newsweek. One real estate broker offers five sure signs that a seller is ready to deal:
  1. Nobody's home. Sellers who have moved on, or
... More »

Angel Investors Profit From Slumping Markets

Affluent investors increase investments, despite market downturn

(Newser) - The bearish market hasn't stopped angels from acting like bulls, Portfolio reports. Angel investors, those who fund start-ups and small companies, are profiting from Wall Street's woes: Reduced private equity funding has made angels the go-to source for capital, improving their bargaining position and giving them more chances to invest. More »

Spam Thrives in Tough Times

Sales of the spongy stuff are on the rise—even though it's not cheaper than meat

(Newser) - Americans have gobbled up Spam for 71 years, despite Monty Python parodies and countless jokes about the spongy stuff. But Spam's sales have spiked 10% over the past 12 weeks, as the economy has gone sour and soaring gas prices have been gobbling up household income. In fact, it's no... More »

Foreign Investment in Iraq Up

American firms may miss early opportunities

(Newser) - European and Asian investors are taking advantage of the recently stabilized Iraqi business climate, USA Today reports. US firms still regard Iraq as too dangerous to invest in, but that attitude may cost them the best opportunities. The firms “who are getting in on the ground floor are not... More »

Canada Could Hurt Firms It Tries to 'Protect'

Blocking US purchase of space division is 'significant risk'

(Newser) - A move last month by the Canadian government to block the country's top space-tech firm from selling one of its divisions to a US buyer illustrates a tricky balancing act, Christopher Sands writes in the American: How far should Ottawa go to appease nationalist sentiment if it eats into economic... More »

Internet Killed the Video Star That Killed the Radio Star

One-time trendsetter can't connect with wired youth

(Newser) - The MTV generation is pushing middle age, and its favored video-delivery system is falling victim to YouTube, the Independent reports. Younger audiences–those key 16- to 24-year-olds–turn to the Internet for the hottest new music, and MTV's attempts to reconnect have failed. They include stabs at social networking and... More »

Venture-Capital Investments Decline

Amount of money falls 5% vs. last year, but number of deals rises

(Newser) - Venture capitalists’ investments declined 5% in the first quarter to $7.1 billion, compared with $7.5 billion this time last year, suggesting entrepreneurial concerns over startups in a troubled economy, the AP reports. The change marks the first year-to-year dip since late 2005. Still, the figure was the fifth-largest... More »

Japanese Women Turn to 'Geisha Guys'

Hot 'accessories' earn their pay with flattery, companionship

(Newser) - A new breed of companion is the rage in Japan, entertaining women with lavish compliments, conversation and undivided attention—the male geisha. Businesswomen pay upwards of $1,000 a night for these men, CNN reports—with, industry reps say, nothing physical being exchanged. Hundreds of such services have sprouted across... More »

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