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Whether Sears and Kmart can do that by incorporating the best elements of much stronger brands in the industry remains unclear. "It could be more like a Bed Bath & Beyond meets Best Buy meets Target," says Marshal Cohen, chief fashion analyst at industry researcher NPD Group. "They've got a second chance here." But if Eddie Lampert can't make it work this time, it's likely to be their last.--With reporting by Jeffrey Ressner/Rancho Cucamonga and Jyoti Thottam and Dody Tsiantar/New York City
Shareholders might wonder if they are anything more than an afterthought. News' stock has been rising--but not fast enough for a company projected to grow earnings at twice the industry pace, says Merrill Lynch analyst Jessica Reif Cohen. She calls the stock grossly undervalued. News recently left Australia to incorporate in the U.S., where it will be added to the prestigious S&P 500 stock index next month. That's giving it a boost. But Murdoch's plan for his two thirtysomething sons to succeed him remains a drag on the stock. Adding weight to the anchor: since Malone...
...spokesman. Murdoch declined to comment for this story. But Wall Street insiders say that should anything happen to him in the near term, News' highly regarded president, Peter Chernin, would run the company. Eventually, though, the Murdoch boys would be in charge. "It's a known evil going in," analyst Richard Greenfield of Fulcrum Partners says of any family-controlled business. "If you don't like it, you shouldn't own the stock...
...family control that is foremost in everyone's mind. This isn't unusual in the media world, where companies like Viacom, the New York Times, Comcast and the Washington Post are controlled by families through a special class of voting stock. In all these cases, argues analyst Richard Bilotti at Morgan Stanley, the day of reckoning may be approaching. The businesses have become much more complex, especially at global empires like News and Viacom. If any start to run their business dispassionately, with an outsider as the leader and solely for profits--and succeedthey will "pressure everyone else to play...
...that the CIA was trying to undermine the President's re-election. The evidence was circumstantial at best. But many Republicans nonetheless came to believe the agency was rooting for Senator John Kerry when it cleared for publication a book, Imperial Hubris, written anonymously by Michael Scheuer, a CIA analyst and former chief of the bin Laden unit, that accused the Administration of botching the war on terrorism. Members of Tenet's staff didn't think much of Scheuer--they regarded him as a zealot who couldn't see the whole picture--but they were in a bind. CIA rules...