Microsoft (MSFT) has been searching for months to find a new CEO to replace Steve Ballmer. While they still haven’t named a suitable successor yet, they plan to hire a new CEO early next year. After General Motors (GM) announced that they will be investing $1.3 billion to upgrade their plants, some wonder if that money should go to the government instead. The government has lost about $10 billion in their bailout deal with GM, but current CEO Dan Akerson argues that the government also benefited from its investment in GM therefore the company should not compensate the government for its losses. With just over a week until Christmas its not too late to get all of your holiday shopping done. Many stores are extending their store hours to combat the six less shopping days during this holiday season. Many Walmart (WMT) locations are open 24/7 and they aren’t the only ones. The Federal Reserve met today and will continue meeting tomorrow to discuss the current state of the economy. The much anticipated decision regarding tapering of the stimulus should be announced sometime tomorrow afternoon.
Word on the Street
- Former Microsoft (MSFT) exec picked to run the Obamacare website.
- Will Samsung follow Apple (AAPL) and open its own standalone stores?
- Other questions the Fed may answer during their upcoming meeting.
- The “world’s most efficient car” by Volkswagon won’t be sold in America.
- Virgin Atlantic is starting to charge passengers who want to reserve seats more than 24 hours in advance.
- Hewlett-Packard (HPQ) recalls Chromebook 11 chargers due to overheating.
- LSI Corporation (LSI) to be acquired by Avago Technologies for $6.6 billion.