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Xerox Inc . (XRX) has followed in the footsteps of some other large tech companies and put another acquisition under its belt. The company announced today that it has decided to purchase Affiliated Computer Services, Inc. (ACS) for a record $6.4 billion. Some investors think that Xerox overpaid for the IT and outsourcing firm. The deal is definitely no carbon copy of Dell's (DELL).
Some more acquisition news came from Abbott Laboratories (ABT). The healthcare products maker has agreed to purchase Belgium-based chemicals maker Solvay S.A.'s pharmaceutical unit for $6.6 billion. This is the latest in a string of deals that Chairman and Chief Executive Miles D. White has orchestrated since last year.
This year is shaping up to be a bad one for fraudulent brokers and Ponzi schemes. The Securities and Exchange Commission has charged a Detroit-area stock broker with fraud. Frank Bluestein allegedly lured elderly investors into a $250 million Ponzi scheme after convincing many of them to refinance their home mortgages. Meanwhile, Allen Stanford, the alleged mastermind of a $7 billion fraud, has returned to his jail cell after a prison brawl that left him with two black eyes and a broken nose.
FairPoint Communications Inc. (FRP) may be on its way to bankruptcy court soon. The Charlotte-based telecommunications company said it may not have to pay $42 million due to creditors by Sept. 30 as part of a restructuring plan.
Retailers may have something to cheer about this holiday season. According to a recent report, holiday retail sales in the U.S. may rise 1 percent this year. Last year's shopping season was the worst in four decades, so any improvement will definitely be welcomed by retailers.
Video -- Holiday Shopping Preview
Ten Reasons Consumers Are Still Going Strong
Exelon Corp (EXC), the largest nuclear power operator in the United States, announced that it will pull out of the US Chamber of Commerce over differences related to the chamber's climate policy. Exelon is the third major utility company to cancel its membership.
The war between AT&T Inc. (T) and Google Inc. (GOOG) is getting dirty. The telecom giant wants the FCC to investigate Google Voice and whether the application might violate policies regarding open communications. Google has already responded to the company's allegations. This should be interesting.
Other Juicy Tidbits
Documentary filmmaker Michael Moore thinks capitalism is evil and here's why . What is the whole point of capitalism? If it can't eliminate poverty, then Michael Moore must be right.
What Michael Moore Didn't Say
The Government used our money for the bailout. If it rakes in profits, we should get a tax rebate .
Wall Street will celebrate a not-so-happy anniversary on Tuesday. Luckily we have other reasons to celebrate such as the end of the manic depressive market .
Don't start believing that real estate values will return to the fame and glory that they once had. It may be time to return to viewing the home simply as a place to live and not a good investment. | 
