Money Matters - Simplified


Smithfield: 'No comment' on possible sale

Smithfield, Va. -- U.S. meat producer Smithfield Foods Inc. said Tuesday it would not comment on a report from Brazil that JBS SA intended to purchase the company.

JBS purchased Smithfield's beef business in 2008, paying $565 million in cash.
Smithfield spokeswoman Keira Ulrich said in an e-mail, "The company's policy is not to comment on marketplace rumors," The (Norfolk, Va.) Virginian-Pilot reported Tuesday.

Brazilian newspaper Valor Economico reported Tuesday JBS was contemplating approaching Smithfield to purchase its pork production business.

Copyright 2010 United Press International, Inc. (UPI).

FDA issues new, stricter rules for cigarette advertisements

The US Food and Drug Administration (FDA) is now implementing new and stricter restrictions on cigarette advertisements that will prevent kids from picking them and save numerous lives.

Dodger Stadium venue for new flea market

Los Angeles -- Dodger Stadium will be the home of a new monthly flea market that the operators say will be far more than an outdoor rummage sale.

The LA Flea Market in the ballpark's parking lot will feature live music, food trucks, a rock-climbing wall for the kids and room for 2,500 vendors.

"And we can accommodate 25,000 people," market organizer Phillip Dane told the Los Angeles Times.

There will be all sorts of items for sale, and a "carryout" service will make it easier on shoppers who would otherwise have to limit themselves to what they are willing to lug around, the report said.

'Amityville Horror' house for sale

Amityville, N.Y. -- The New York state house that inspired "The Amityville Horror" is back on the market for an asking price of $1.15 million.

The home, where Ronald DeFeo Jr. killed six family members in 1974 and was supposedly haunted when George and Kathleen Lutz lived there for 28 days, was listed Monday in Amityville by Daniel Gale Sotheby's International Realty, Newsday reported Tuesday.

The events at the home inspired Jay Anson's 1977 book, "The Amityville Horror: A True Story," which in turn became the basis for several film adaptations.

"It's one of the more beautifully redone houses in the neighborhood," listing agent Laura Zambratto said.

Copyright 2010 United Press International, Inc. (UPI).

'Field of Dreams' property up for sale

Des Moines, Iowa -- A 193-acre tract of Iowa land featuring the baseball diamond from the 1989 film "Field of Dreams" is up for sale for $5.4 million.

The Des Moines Register said Don and Becky Lansing are selling the property, which has been in their family for more than 100 years. The parcel reportedly includes the field and surrounding farmland, the house used in the Kevin Costner movie, two souvenir stands and six other farm buildings.

"We love the land and the field, but it is time for us to head to the locker room," Becky Lansing told the newspaper. "We are getting up there in years and it is time to think about retirement."

The Register said the site is visited each year by about 65,000 movie and baseball fans.

Time Warner to bid $1.5B for MGM

In a move to take over the struggling Metro-Goldwyn-Mayer Inc. (MGM), Time Warner Inc. is planning to bid $1.5 billion for MGM studios.

7 Great American Stocks on Sale

Where the stock market will be tomorrow, next week, or even next year is anyone's guess. And considering the enormous size of the global financial markets and all of their moving parts -- including the new ones coming out of Washington -- such prognostication is about as futile as trying to boil the ocean.

Home prices gain after surge in sale

New York, August 26: In a convincing sign that the real estate market is on the road to recovery, home prices have climbed in most parts of the country, according to reports released Tuesday.

GM gets approval for sale

New York, July 6: Federal bankruptcy judge, Robert Gerber, has approved the sale of the bulk of General Motors Corp.'s (GM) assets to a new company, Vehicle Acquisition Holdings LLC, thus clearing way for the troubled automaker to emerge from bankruptcy.