Morning Media Summary


Morning Tech Wrap: Microsoft, Skype, Google:
“Microsoft is in talks to buy Skype from eBay and the internet telephone services’s founders for between $7 billion and $8 billion, according to several reports. The deal, which the Wall Street Journal describes as “the most aggressive move yet by Microsoft to play in in the increasingly-converged worlds of communication, information and entertainment”, could be announced as early as Tuesday. The news was first reported by Gigaom. Taking in Skype’s long-term debt, the total value of the deal would be around $8.5 billion. A Skype purchase would be the biggest acquisition in the history of Microsoft. In 2007, the company paid around $6 billion for online advertising firm aQuantive, though many investors reportedly felt the company had overpaid for the deal.”

Apple usurps Google as world’s most valuable brand:
“The iPhone and iPad maker’s brand is now worth $153 billion, almost half Apple’s market capitalization, says the annual BrandZ study of the world’s top 100 brands.”

Confusion Surrounds U.K. Cookie Guidelines:
“If the U.K. Information Commissioner thought that publishing guidance on the implementation of the European Union privacy law was going to calm things down, he seriously miscalculated.”

Biggest BitTorrent Downloading Case in U.S. History Targets 23,000 Defendants:
“At least 23,000 file sharers soon will likely get notified they are being sued for downloading the Expendables in what has become the single largest illegal-BitTorrent-downloading case in U.S. history.”

Global Warming / Environment / Energy:

South Carolina Taking Light Bulb Ban into Its Own Hands
“Fed up with the federal government’s ban of the traditional incandescent light bulb, state representatives in South Carolina are pushing for the state to produce and use incandescents solely for its state.”

Oil rebounds, Brent jump 2nd biggest day ever:
“Brent crude oil surged more than $6 a barrel on Monday, the second-largest gain on record, snapping back from last week’s near record sell-off on a wave of bargain-hunting and a jump in gasoline futures prices.”

Energy tax credit bill divides conservatives, even splits Ron Paul from group he founded:
“The House is expected to consider a bill soon that would offer $5 billion in tax credits to the natural gas industry, a proposal that is causing a split among conservative members and groups.”

Insurance / Gambling:

Online Poker Goes Bust:
“Since its introduction in 1995, The global market for online gambling has grown rapidly, bringing in more than $25 billion in revenue in 2009. It was estimated to reach nearly $30 billion, before U.S. authorities announced a major crackdown of online poker by seizing five major gambling websites and indicting 11 individuals involved with the sites, on April 15, 2011. (To learn how investing can be like gambling, read Going All-In: Comparing Investing And Gambling.)”

Health / Safety:

Schools may ban chocolate milk over added sugar
“Chocolate milk has long been seen as the spoonful of sugar that makes the medicine go down, but the nation’s childhood obesity epidemic has a growing number of people wondering whether that’s wise.”

No Breakfast For Kids Wearing ‘Wrong’ Shoes At Grade School:
“Chicago Public Schools is apologizing to a Chicago mother and her two young sons, ages 5 and 6, after they were denied breakfast because they came to schools wearing the wrong kind of shoes.”


John Boehner: Cut ‘trillions’ as debt limit nears:
“Speaker John Boehner came here Monday to lend a peek to a worried Wall Street and a concerned Washington as to where he stands as the nation rapidly approaches its statutory debt ceiling. ”

‘Underwater’ Homeowners Rise to 28 Percent: Zillow:
“More than 28 percent of U.S. homeowners owed more than their properties were worth in the first quarter as values fell the most since 2008, Zillow Inc. said today.”


Teenager Arrested in North Dakota For Filming Cop:


Boeing Complaint: Solomon, NLRB Dig In Against Republican Critics:
“Facing an onslaught of criticism from Republican lawmakers and corporate interests, National Labor Relations Board acting general counsel Lafe Solomon today defended his decision to file a complaint against Boeing after the company moved a production line for its new 787 Dreamliner from Washington state to South Carolina.”

Transportation/ Land Use:

Midwest to get $400M for high-speed rail projects:
“High-speed rail projects that will allow passenger trains traveling between Chicago and Detroit to reach speeds of 110 mph along some stretches of track and shorten travel time by 30 minutes also will result in about 1,000 construction jobs and help push Michigan’s economy forward, Transportation Secretary Ray LaHood said Monday.”