“David Broder: Business, Republicans' health care gap - Burlington Free Press” plus 4 more

David Broder: Business, Republicans' health care gap - Burlington Free Press
Verizon Business and McAfee Form Strategic Alliance - PR Newswire
Stocks Finish Mixed - MSNBC
U.S. Justice Department Opens Antitrust Probe of IBM - Industry Week
David Broder: Business, Republicans' health care gap - Burlington Free Press

David Broder: Business, Republicans' health care gap - Burlington Free Press

Posted: 08 Oct 2009 08:21 AM PDT

One of the intriguing mysteries of this year is why the initial broad support from American business for overhauling the health care system has not translated into more than a handful of votes from Republicans in the House and Senate.
As a rule, when the business community decides it wants something in Washington, Republicans listen and respond. Much of their funding comes from the corporate sector and their philosophy attunes them to the bottom-line concerns of those who live in the world of market competition.

When this years health care debate began, there was every reason to think that much of the corporate world had moved off the opposition that helped doom the Clinton reforms of 1993-94. The intervening years had seen medical insurance bills for companies, as well as individuals, soar far faster than inflation, forcing many firms to cut back their employees coverage or even abandon it.

The auto companies and many others complained that they were losing sales to foreign competitors who did not face the cost of health insurance, and were paying the price in their bottom line. The Obama White House recognized the opening and reached out to business, striking deals with hospitals, pharmaceuticals and doctors.

In the last few days, such notable Republicans as former Senate Majority Leader Bill Frist, former Wisconsin Gov. and Health and Human Services Secretary Tommy Thompson and California Gov. Arnold Schwarzenegger all have urged their party to back reform, rather than settle for the status quo.
But far more common in the Capitol is what I heard from Rep. Roy Blunt of Missouri, the former GOP whip. There has been no real pressure from business to move the legislation forward, he said, and growing skepticism about what business can expect from any reforms. The House and Senate (Democratic) leaders say they are not bound by any agreements the White House has made, Blunt said.
Rep. Fred Upton of Michigan, a moderate Republican with close ties to business, said, Ive not been lobbied by any corporate supporters of reform. They are preoccupied by deficits and debt.

Smart lobbyists such as former Reagan White House chief of staff Ken Duberstein, former Rep. Vin Weber and Karen Ignagni, who represents the health care insurers, offer a variety of reasons for the seeming gap between business and the GOP members. Weber and Duberstein both said they hear congressional Republicans expressing distaste for the business groups that have cut deals with Obama. Ignagni said more and more businessmen have grown leery that they may be stuck with the bill for Democratic plans.

Spokesmen for the Business Roundtable and the Committee for Economic Development, two corporate groups that early on called for reform, said many others in business worry about the overall cost of the program, and the possibility it will segue into a single-payer, government-controlled scheme. As a matter of principle, others oppose mandates for employers to provide insurance or for individuals to buy it.

Verizon Business and McAfee Form Strategic Alliance - PR Newswire

Posted: 08 Oct 2009 07:02 AM PDT

LAS VEGAS, Oct. 8 /PRNewswire/ -- Verizon Business, a leading global provider of IT, communications, security and network solutions, and McAfee Inc., the world's largest dedicated security technology company, announced on Thursday (Oct. 8) a global strategic alliance to provide integrated security solutions to businesses and government agencies worldwide.

Through this agreement, Verizon Business will offer McAfee's entire line of enterprise security products and services while McAfee taps Verizon Business' data center outsourcing and expert consulting and managed services capabilities. Additionally, the companies will jointly develop a suite of next-generation, cloud-based managed security services.

The agreement between Verizon Business and McAfee extends significant value to enterprise clients by providing comprehensive world-class security solutions and services, including new cloud-based offerings. Building on both companies' success in technology and security, McAfee and Verizon Business can deliver solutions that effectively meet enterprise and government security challenges ahead, especially as more communications functions move to the "cloud," or network, to take advantage of faster implementation, enhanced security and lower costs.

"This strategic agreement with McAfee enables us to drive even more complete and integrated IT solutions to enterprises across the world," said Kerry Bailey, senior vice president of Verizon Business global solutions. "Verizon Business will be able to expand and more fully touch every facet of enterprise security so that enterprises can confidently do business in this digital age. Our newly expanded and next-generation cloud capabilities will enable organizations to better use security as a strategic tool and business enabler."

David Scholtz, senior vice president of worldwide strategic alliances at McAfee, said, "This agreement underscores the importance of delivering comprehensive security solutions to meet the needs of business and government clients. The complexities of today's threats and turbulent economic times call for agreements of this kind where products from multiple providers are combined to help improve our customers' investments and control their operational costs."

Multi-Faceted Agreement Benefits Enterprises

The new agreement includes the following components:

Verizon Business now offers the full complement of McAfee enterprise security solutions to its diverse client base through Verizon's customer premises equipment (CPE) catalog. The new security offerings broaden the choice of world-class security solutions available to Verizon Business' customers while helping McAfee significantly expand its global distribution channel.
Starting this fall, Verizon Business will offer McAfee's PCI (Payment Card Industry) compliance services to acquiring banks and other organizations that support merchants that handle fewer than 20,000 e-commerce transactions or up to 1 million credit card transactions each per year. This group of retailers -- known as Level 4 merchants -- presents the greatest risk for a breach and represents 99 percent of all merchants and approximately one-third of all credit card transactions. Previously, Verizon Business PCI compliance services were focused on larger-volume merchants and associated banks.
McAfee customers will have access to Verizon Business' network of 1,200 security professionals who can help design, implement and integrate holistic security solutions worldwide.
Together, McAfee and Verizon Business will offer a comprehensive portfolio of managed security services (MSS) to enterprises, leveraging the strength of Verizon Business MSS offerings and McAfee's technology.
Verizon Business will provide data center outsourcing services to McAfee. Verizon Business will help McAfee consolidate its data centers, enabling McAfee to further improve the 24 x 7 management of its Web hosting operations and better position the company to deliver cloud-based solutions.
Verizon Business and McAfee will jointly develop and market a suite of next-generation, cloud-based managed security solutions, expanding Verizon Business' current portfolio of cloud-based security solutions.

Next Generation of Cloud-Based Security Products

The next-generation, cloud-based managed solutions that are being developed under the agreement will leverage Verizon's leading managed security services platform, global IP infrastructure, advanced security operation centers, expansive footprint of data centers and McAfee's world-class security technology powered by its global threat intelligence.

The new security services will be managed by Verizon Business and operated in the cloud. The services will include a broad selection of security technologies, including firewalls, intrusion prevention services, anti-malware, content control and Secure Socket Layer (SSL) virtual private network (VPN).

Ideal for highly distributed businesses, these new solutions will offer enterprises a number of advantages, including strong security included with their IP connectivity, tighter security integration with other protected assets, and enhanced flexibility. These services are well-suited for the small-to-medium enterprise, large enterprise and government agencies.

Verizon and McAfee will offer these new solutions in North America, South America, Europe and the Asia-Pacific region.

About Verizon Business

Verizon Business, a unit of Verizon Communications (NYSE: VZ) , is a global leader in communications and IT solutions. We combine professional expertise with one of the world's most connected IP networks to deliver award-winning communications, IT, information security and network solutions. We securely connect today's extended enterprises of widespread and mobile customers, partners, suppliers and employees -- enabling them to increase productivity and efficiency and help preserve the environment. Many of the world's largest businesses and governments -- including 96 percent of the Fortune 1000 and thousands of government agencies and educational institutions -- rely on our professional and managed services and network technologies to accelerate their business. Find out more at www.verizonbusiness.com.

About McAfee

McAfee, Inc. (NYSE: MFE) , headquartered in Santa Clara, California, is the world's largest dedicated security technology company. McAfee is committed to relentlessly tackling the world's toughest security challenges. The company delivers proactive and proven solutions and services that help secure systems and networks around the world, allowing users to safely connect to the Internet, browse and shop the web more securely. Backed by an award-winning research team, McAfee creates innovative products that empower home users, businesses, the public sector and service providers by enabling them to prove compliance with regulations, protect data, prevent disruptions, identify vulnerabilities, and continuously monitor and improve their security. http://www.mcafee.com

Forward-Looking Statements:

The information contained in this document is for informational purposes only and should not be deemed an offer by McAfee or create an obligation on McAfee. All statements other than statements of historical fact are statements that could be deemed to be "forward-looking statements" under the federal securities laws, including but not limited to, statements relating to the security software industry and McAfee's strategies, competitive market position, and products and technologies including the release date of new products and technologies and statements. These forward-looking statements are based on management's current expectations and are subject to known and unknown risks, uncertainties and assumptions which may cause our results, performance and achievements to differ materially from those expressed, including that McAfee may experience delays in product development or the release of previously announced products. McAfee reserves the right to discontinue products at any time, add or subtract features or functionality, or modify its products, at its sole discretion, without notice and without incurring further obligations. The forward-looking statements contained in this release are also subject to the risks and uncertainties more fully described in McAfee's filings with the SEC. McAfee does not undertake to update any forward looking statements.

VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

SOURCE Verizon Business

Company News On-Call: http://www.prnewswire.com/comp/094251.html

Website: http://www.verizonbusiness.com

Stocks Finish Mixed - MSNBC

Posted: 08 Oct 2009 08:07 AM PDT

U.S. stocks closed narrowly mixed in light trading Wednesday, partially pulling back from two days of solid gains. Investors nervously awaited Alcoa's (AA) third-quarter earnings report, due after the closing bell, for hints as to whether the latest earnings season would be robust and support investors' expectations for an economic rebound.

After the close of trading Wednesday, the aluminum giant said it returned to profitability after three consecutive quarterly losses, helped by cost-cutting and rising orders from automakers and other big manufacturers. Alcoa reported a third-quarter profit of $77 million, or 8 cents per share. Excluding restructuring charges, Alcoa's earnings in the latest quarter amounted to 4 cents per share, easily beating expectations of a loss of 9 cents on revenue of $4.55 billion.

On Wednesday, the 30-stock Dow Jones industrial average ended lower by 5.67 points, or 0.06%, at 9,725.58. The broad Standard & Poor's 500-stock index gained 2.86 points, or 0.27%, to 1,057.58. The tech-heavy Nasdaq composite index added 6.76 points, or 0.32%, to 2,110.33.

On the New York Stock Exchange, 16 stocks were higher in price for every 14 that declined. Breadth on the Nasdaq was flat. Trading was choppy, suggesting that some investors were buying on dips, says S&P MarketScope.

Earnings season officially kicks off Wednesday afternoon with the release of Alcoa's third-quarter numbers.

Treasuries moved solidly higher after the government's strong $20 billion 10-year note auction.

The dollar index rose in a rebound from its recent weakness.

Gold futures edged higher.

Oil futures fell after after the energy Dept.'s weekly inventory report showed crude oil stocks fell 1.0 million barrels, gasoline rose 2.9 million barrels, and distillates rose 700,000 barrels.

European stocks finished lower, with benchmark indexes declining 0.57% in London, 0.37% in Paris, and 0.30% in Frankfurt.

Tokyo stocks rose 1.11%, Hong Kong stocks rose 2.07%, while markets in Shanghai were closed for a holiday.

Wednesday's session featured two closely watched initial public offerings. Of the two new issues, Verisk (VRSK) was the more impressive performer. Shares of the largest provider of data to the property and casualty insurance sector opened at $27 each, $5 above their IPO price and trading as high at $28.97. In afternoon trading, the stock rose $5.43, or 25%, to $27.43.

Shares of Banco Santander Brasil (BSBR), were not performing as well, falling in their first day of trading. American Depository Receipts trading in the U.S. dropped 35 cents, or 2.6%, to $13.05 in afternoon trading.

Bloomberg News reported Wednesday that Kansas City Fed President Thomas Hoenig said the central bank should start raising interest rates "sooner rather than later," and such tightening wouldn't derail the U.S. economic recovery. "Even if we were to start immediately, much time would pass before incremental increases could be considered tight or even neutral policy," Hoenig said. "I would not support a tight monetary policy in the current environment, but my experience tells me that we will need to remove our very accommodative policy sooner rather than later."

Reuters reported Treasury Secretary Timothy Geithner was quoted by the German weekly Die Zeit as saying "Everyone is going to have to come to terms with the fact that we are going to save more in the United States. If the U.S. starts saving more. that changes the whole world's economic reality," He said the Chinese "government is at the forefront of thinking about new ways to reduce the dependence of the economy on export and investments," he said. "But it is not just about the U.S. and China. Europe and Japan make up 40 percent of the global economy."

The ABC News consumer comfort index rose 1 point to -45 in the week ended Oct. 4. The survey showed 11% of respondents expressed confidence in the economy, up from 10% the week before. Also, 44% of those polled said their own finances were in good standing, down from 45% the prior week. In assessing the buying climate, 27% of respondents said it was good, up from 26% a week earlier.

Bloomberg News reported Europe's economy contracted more than estimated in the second quarter as consumer spending, investment and exports were weaker than earlier reported. Gross domestic product in the 16-nation euro region fell 0.2% from the first quarter, when it dropped 2.5%, the European Union's statistics office in Luxembourg said. The decline was sharper than the 0.1% decline estimated on Sept. 2.

Japan's August leading economic index rose 0.8%, month-over-month, for a sixth straight monthly increase.

In company news Wednesday, Monsanto (MON) reported fourth-quarter ongoing earnings per share [EPS] of $0.02, vs. a $0.03 loss per share one year earlier, despite 8.4% lower total sales. The company reaffirmed its fiscal 2010 ongoing EPS guidance in the range of $3.10-$3.30, with free cash flow in the range of $900 million-$1 billion.

Costco Wholesale (COST) reported fourth-quarter EPS of $0.85, vs. $0.90 EPS one year earlier, on a 5% same-store sales drop and a 3.1% total revenue drop. Wall Street was looking for EPS of $0.77.

Yum Brands (YUM) reported third-quarter EPS of $0.70, vs. $0.58 EPS one year earlier [excluding special items], on 4.0% systemwide sales growth. The company raised its 2009 EPS forecast to $2.14 from $2.10, prior to special items, driven by stronger-than-expected full year performance in China and a lower-than-expected full year effective tax rate. It expects to deliver 10% EPS growth in 2010.

Family Dollar Stores (FDO) reported fourth-quarter EPS of $0.43, vs. $0.38 EPS one year earlier, on 1.0% higher same-store sales and 2.6% higher total sales. Wall Street was looking for $0.41 EPS. The company sees 3%-5% first-quarter same-store sales rise , a 5%-7% total sales rise, and $0.45-$0.50 EPS.

Ciena Corp. (CIEN) announced that it has entered into agreements with Nortel to buy substantially all of the optical networking and carrier Ethernet assets of Nortel's Metro Ethernet Networks business for $390 million in cash and 10 million shares of Ciena common stock.

Sunoco (SUN) said it will reduce its quarterly dividend to $0.15 from $0.30, beginning in the 2010 first quarter. It also says it is indefinitely idling all process units at its Eagle Point refinery located in Westville, N.J. in an effort to reduce losses in its refining business. Sunoco expects to incur pretax charges, the majority of which are non-cash, of about $475 million-$550 million related primarily to asset impairment as well as idling costs.

U.S. Justice Department Opens Antitrust Probe of IBM - Industry Week

Posted: 08 Oct 2009 05:36 AM PDT

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David Broder: Business, Republicans' health care gap - Burlington Free Press

Posted: 08 Oct 2009 08:21 AM PDT