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No. 1 retailer posts solid gain to start the holiday shopping season; many other merchants take a beating.

By Parija B. Kavilanz, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) — Wal-Mart Stores reported November sales that trounced expectations Thursday as the discounter continues to gain market share from its rivals in a worsening economy.

But the picture wasn’t so jolly for many other leading store chains as more Americans retrenched on unnecessary purchases.

Wal-Mart (WMT, Fortune 500), the world’s largest retailer, said its same-store sales, or sales at its stores open at least a year, rose 3.4%, beating its own forecast for a 1% to 3% increase in the measure for the month.

Analysts had expected the retailer to log a 2% sales increase for the month, which also included sales on Black Friday, or the day after Thanksgiving, which unofficially marks the start of the holiday shopping season.

However, Wal-Mart executives tempered the positive news, citing the death of a temporary worker at one of its stores on Black Friday.

“Our sales news is overshadowed by the tragic incident at our Valley Stream, New York store on November 28. We consider Mr. Jdimytai Damour part of the extended Wal-Mart family and are saddened by his death,” Eduardo Castro-Wright, vice chairman of Wal-Mart, said in a statement.

During the month, Wal-Mart said the drop in gas prices put more money in the pocket of its mostly paycheck-to-paycheck shoppers. As a result, the company said consumers shopped more frequently at its stores.

The retailer is also benefiting from more higher income shoppers trading down to its value-priced products.

Additionally, the company said its aggressive holiday discounts also drove “record grocery sales” in November and lifted sales in the home, clothing and electronics categories.

For December, Wal-Mart expects sales to be at the high-end of its forecast for a 1% to 3% gain.

Other chain stores also reported their November same-store sales Thursday. Thomson Reuters, which tracks sales at 35 retailers, said 24 other merchants besides Wal-Mart had already reported their results. Of those 24, 52% missed forecasts while 48% beat analysts’ sales estimates.

Among those hardest hit last month – teen clothing chain Abercrombie & Fitch (ANF) posted a stunning 28% plunge in same-store sales, sales at Gap Inc. (GPS, Fortune 500) fell 10% and Limited Brands (LTD, Fortune 500), which owns Victoria’s Secret and Bath & Body Works stores, posted a 12% same-store sales drop.

The firm forecast that last month’s overall same-store sales will show a 2.4% decline.

If the figures come in as expected, that monthly decline would mark the weakest same-store sales results ever registered since Thomson Reuters first started tracking the estimates in 2000.

New “virtualization” software lets Outlook and other apps work like Apple OS X programs

By Stephen H. Wildstrom

Excellent hardware and even better software are strong reasons for people to choose a Mac as their next computer. Many, no doubt, would also like to leave the world of Microsoft (MSFT) Windows behind. If you’re not quite ready to take that step, or work realities make it impossible, you actually can have your cake and eat it too.

For some time now, Macs have had the ability to run the many applications written for Windows, thanks to Apple (AAPL) software called Boot Camp. But you have to choose between Windows or the Mac OS X at startup and you end up with two separate systems sharing one physical computer. I suspect most Boot Camp users are running intense Windows-only games and want the maximum performance on Apple hardware.

A technology with the user-unfriendly name of virtualization provides a much better answer. New versions of two very good products, Parallels Desktop for Macintosh 4.0 and VMware Fusion 2.0 (both $80), let you run Windows programs on a Mac so that they look almost exactly like OS X programs and behave that way, too.

To use Parallels and Fusion, which require less technical proficiency than earlier versions, you need a fairly recent Mac and a copy of Windows. Once you have installed the software, you follow the on-screen instructions to set up a Windows “virtual machine.” Then you install the Windows programs you need, and you’re good to go.

I think the application that is the biggest deal for business Mac users is Microsoft Outlook. The Mac alternative, Microsoft Entourage, is a less-than-satisfactory substitute for Outlook’s mail, contact, and calendar functions. Entourage lacks Outlook’s small business contact manager. Critical collaboration features of the Microsoft Exchange corporate mail system are also missing.

Fusion and Parallels both offer three different ways to run Windows. You can turn your entire Mac display into a Windows desktop. You can run the Windows desktop in a separate pane. And, in perhaps the best approach, you can run each Windows program so it looks like a regular Mac application.

Fusion and Parallels also let you share files between OS X and Windows. And they can be set up so the contents of key folders, such as Documents and Pictures, are duplicated in both systems. This makes it easy to save an attachment in Outlook and use it in a Mac application, or vice versa. The result? Workplaces that have been hostile to Macs may relent. Without much effort, a company can clone its standard Windows setup, including all security policies, and install it as a virtual machine on a Mac that then lets employees access the corporate network.

The implications of virtual machines may go beyond the traditional Mac-vs.-Windows competition. VMware and Parallels make versions that let you install Windows virtual machines on any Windows PC. It sounds illogical but makes some interesting things possible. You can run two completely separate systems on the same hardware—one for secure corporate use, the other loaded with personal programs the company doesn’t want to support. Computers of the not-too-distant future may include virtual machines with dedicated jobs, such as a secure setup used only for online finance and another for Web browsing.

Complicated software and the limitations of earlier microprocessors restricted the use of virtualization. Now, with simpler software and much more powerful computers, the age of virtual machines has arrived.

Posted by Candace Lombardi From news.cnet.com

The Better Place Rogue is an all-electric version of the Nissan Rogue crossover SUV.

(Credit: Better Place)

Hawaii has decided to partner with Better Place to bring car battery exchange stations for electric vehicles to the islands, Hawaii Gov. Linda Lingle announced Tuesday.

Better Place stations, similar in concept to gas stations, offer drivers with electric vehicles an automated system that swaps out exhausted lithium ion car batteries for fully-charged ones. The swapping system is intended to be convenient for both drivers and local electric companies, since Better Place can recharge the exhausted batteries with excess electricity generated from renewable sources during off-peak electricity hours.

Lingle said the project is an example of Hawaii’s efforts to gain independence from foreign oil, and to stimulate its economy through investment in energy technology.

Not surprising due to its geography, Hawaii spends about $7 billion a year on oil imports with its drivers facing some of the toughest prices at the pump in the U.S. The plan to implement Better Place stations coincides with the Hawaii Clean Energy Initiative (HCEI) intended to change that. Signed in January, it sets Hawaii’s renewable energy bar at 70 percent clean energy by 2030, as well as encouraging programs that foster local economic growth.

Shai Agassi, founder and CEO of Better Place, was also on hand at the plan unveiling in Hawaii on December 2. According to Agassi, Hawaii is the second state in the U.S., and the fifth place in the world, to adopt the Better Place electric-car infrastructure. Better Place stations have already been implemented in Denmark and Israel, with Australia and California recently announcing intentions to add them.

“Hawaii, with its ready access to renewable energy resources like solar, wind, wave, and geothermal, is the ideal location to serve as a blueprint for the rest of the U.S. in terms of reducing our dependence on foreign oil, growing our renewable energy portfolio and creating an infrastructure that will stabilize our economy,” Agassi said in a statement to the press.

Hawaii Electric is also onboard. The state’s electric utility signed a Memorandum of Understanding (MOU) with Better Place which plans to power its public charging and battery-swapping stations with renewable energy resources.

According to the plan, Better Place will pull permits for its stations in 2009, offer electric cars within 18 months, and make both available for the mass-market in Hawaii by 2012.

Better Place has said it’s in talks with major automakers and would like to offer swappable batteries for any electric vehicle regardless of which company makes the car. But right now the company’s stations only service two electric vehicles: the Renault Megane and the Better Place Rogue, an electric vehicle based on the Nissan Rogue crossover SUV.

Hawaii’s plan with Better Place is to install about 20 electric battery-swapping stations across its islands.

(Credit: Better Place)

By Timothy R. Homan From the bloomberg.com

Dec. 3 (Bloomberg) — Job cuts announced by U.S. employers in November more than doubled from a year earlier, led by a surge at financial firms as the credit crisis deepened and the global economy faltered, according to a private placement firm.

Firing announcements rose 148 percent to 181,671, the most since January 2002, from 73,140 in November 2007, Chicago-based Challenger, Gray & Christmas Inc. said today. The figures aren’t adjusted for seasonal effects, so economists prefer to focus on year-over-year changes instead of monthly numbers.

Companies are slashing jobs as access to credit remains frozen and sales weakened worldwide. A deteriorating labor market is likely to undermine consumer confidence and spending, pushing the economy further into what may become the longest recession in 70 years.

“Those hoping for a holiday reprieve in downsizing as Christmas approaches could be disappointed,” John A. Challenger, chief executive officer of the placement company, said in a statement. “December has historically been among the larger job-cut months of the year, with many employers making last-minute staffing adjustments to meet year-end earnings goals.”

Labor Department figures due this week may also show firings accelerated in November as companies cut workers for an eleventh consecutive month. Payrolls last month fell by 325,000 after declining 240,000 in October, according to the median forecast of economists surveyed by Bloomberg News. Total job losses have climbed to 1.2 million so far this year.

Surpassed 1 Million

The Challenger report today showed companies have announced a total of 1,057,645 cuts so far this year, up 46 percent from the same period in 2007. Job cuts have surpassed 1 million for the first time since 2005.

The number of planned job cuts increased 61 percent in November from the 112,884 announced in October, Challenger said.

Financial companies led industries in announced cutbacks with 91,356 reductions last month after Citigroup Inc. said it would cut 52,000 workers from its payroll. Retail employers followed with 11,073 firings, while computer and electronics firms combined for 15,350 cuts.

Applied Materials Inc., the largest maker of chip- production machinery, said last month it will cut 1,800 jobs, or 12 percent of its workforce, as sales slow.

“Almost daily we are hearing customer reports of factory slowdowns, closures and capacity reductions,” Mike Splinter, chief executive officer of the Santa Clara, California-based company, said on a Nov. 12 conference call. “This will be an extended downturn, lasting a year or longer.”

The Challenger report does not always correlate with figures on first-time jobless claims or employment as reported by the government.

Many job cuts are carried out through attrition or early retirement. Some employees whose jobs are eliminated find work elsewhere in their companies, and some announced staff reductions never take place because business improves. Challenger’s totals also include foreign affiliates.

Wednesday, December 03, 2008?? From infozine.com

Contrary to the perception of some patients and physicians, there is no evidence that brand-name drugs are clinically superior to their generic counterparts.

Chicago, IL – infoZine – “The problem of rising prescription drug costs has emerged as a critical policy issue, straining the budgets of patients and public/private insurers and directly contributing to adverse health outcomes by reducing adherence to important medications. The primary drivers of elevated drug costs are brand-name drugs, which are sold at high prices during a period of patent protection and market exclusivity after approval by the Food and Drug Administration (FDA),” the authors write. To control spending, many payers and clinicians have encouraged substitution of inexpensive bioequivalent generic versions of these drugs after the brand-name manufacturer’s market exclusivity period ends.

Some patients and physicians have expressed concern that generic drugs may not be equivalent in their effectiveness. “Brand-name manufacturers have suggested that generic drugs may be less effective and safe than their brand-name counterparts. Anecdotes have appeared in the lay press raising doubts about the efficacy and safety of certain generic drugs,” the authors note.

Aaron S. Kesselheim, M.D., J.D., M.P.H., of Brigham and Women’s Hospital and Harvard Medical School, Boston, and colleagues assessed the clinical differences resulting from the use of generic medications or brand-name drugs used primarily to treat cardiovascular disease, which as a group make up the largest portion of outpatient prescription drug spending. The researchers conducted a meta-analysis on studies on this subject published from 1984 to August 2008, and to determine the expert opinion on the subject of generic substitution, also reviewed the content of editorials published during this time.

The researchers identified 47 articles for detailed analysis, covering nine different subclasses of cardiovascular drugs, of which 38 (81 percent) were randomized controlled trials (RCTs). Clinical equivalence was noted in 7 of 7 RCTs (100 percent) of beta-blockers, 10 of 11 RCTs (91 percent) of diuretics, 5 of 7 RCTs (71 percent) of calcium-channel blockers, 3 of 3 RCTs (100 percent) of antiplatelet agents, 2 of 2 RCTs (100 percent) of statins, 1 of 1 RCT (100 percent) of angiotensin-converting enzyme (ACE) inhibitors, and 1 of 1 RCT (100 percent) of alpha-blockers.

Among narrow therapeutic index drugs (NTI; drugs whose effective doses and toxic doses are separated by a small difference in plasma concentration), clinical equivalence was reported in 1 of 1 RCT (100 percent) of class 1 anti-arrhythmic agents and 5 of 5 RCTs (100 percent) of warfarin.

Forty-three editorials and commentaries were identified as meeting study criteria. Of these editorials, 23 (53 percent) expressed a negative view of the interchangeability of generic drugs compared with 12 (28 percent) that encouraged substitution of generic drugs (the remaining 8 did not reach a conclusion on interchangeability). Among editorials addressing NTI drugs specifically, 12 (67 percent) expressed a negative view while only 4 (22 percent) supported generic drug substitution.

“One explanation for this discordance between the data and editorial opinion is that commentaries may be more likely to highlight physicians’ concerns based on anecdotal experience or other nonclinical trial settings. Another possible explanation is that the conclusions may be skewed by financial relationships of editorialists with brand-name pharmaceutical companies, which are not always disclosed. Approximately half of the trials in our sample (23/47, 49 percent), and nearly all of the editorials and commentaries, did not identify sources of funding,” the researchers write.

The researchers also reported, “…we identified numerous studies that evaluated differences in clinical outcomes with generic and brand-name medications. Our results suggest that it is reasonable for physicians and patients to rely on FDA bioequivalence rating as a proxy for clinical equivalence among a number of important cardiovascular drugs, even in higher-risk contexts such as the NTI drug warfarin. These findings also support the use of formulary designs aimed at stimulating appropriate generic drug use. To limit unfounded distrust of generic medications, popular media and scientific journals could choose to be more selective about publishing perspective pieces based on anecdotal evidence of diminished clinical efficacy or greater risk of adverse effects with generic medications. Such publications may enhance barriers to appropriate generic drug use that increase unnecessary spending without improving clinical outcomes.”

By LIZ SIDOTI? From The Associated Press

CHICAGO (AP) — President-elect Barack Obama is ready to name New Mexico Gov. Bill Richardson as his choice for commerce secretary after passing over his vanquished Democratic rival for secretary of state.

Democratic officials say the two would appear at a news conference together in Chicago on Wednesday.

Richardson’s nomination as commerce secretary has been all-but-announced for several weeks.

One of the nation’s most prominent Hispanic politicians, he will become the latest former Democratic primary opponent to join Obama’s Cabinet. The incoming chief executive has chosen another adversary-turned-ally, Hillary Rodham Clinton, to be his secretary of state. Obama also chose former rival Joe Biden as his vice presidential running mate.

The president-elect has moved quickly to fill out his Cabinet, having named more than half of it in the month since he was elected the country’s 44th president.

An energy secretary and United Nations ambassador in President Bill Clinton’s administration, Richardson was a contender for the State Department job, but Obama offered him the post as commerce secretary after choosing the former first lady as his top diplomat.

Richardson sought the Democratic presidential nomination this year but eventually dropped out and endorsed Obama.

On Monday, Obama announced his foreign and national security team, led by Clinton and current Defense Secretary Robert Gates, a Republican. A week ago, Obama named his economic team, led by Timothy Geithner as treasury secretary. In the coming weeks if not days, he plans to announce former Senate Majority Leader Tom Daschle as health and human services secretary.

The upper echelon on his Cabinet now is in place.

Among those posts yet to be disclosed if not chosen: the heads of the Interior, Transportation, Labor, Energy, Housing and Urban Development, Education, Agriculture and Veterans Affairs departments. Obama also has yet to name his intelligence team, including his director of national intelligence and CIA chief.

By MARK PAZNIOKAS |?from the courant.com? | December 3, 2008

But the French utility’s attempt to out-bid the billionaire for Constellation Energy is unlikely to succeed.

Electricite De France has just picked itself a formidable competitor. The French energy giant is offering $4.5 billion for 50.0% of Constellation Energy’s nuclear energy assets, even though billionaire Warren Buffett has already bid for the unit. Unfortunately for EDF, this is a battle it will most likely lose.

“Strategically it makes sense, but I don’t believe [EDF’s] move will succeed. It’s not just a matter of price,” said WestLB analyst Peter Wirtz. EDF’s offer values Constellation shares at $52.0 each, a massive, 96.0% premium on the offer from MidAmerican, a unit of Buffett’s Berkshire Hathaway (nyse: BRK – news – people ). The French utility announced Wednesday that it had sent a letter to the board of Constellation Energy, proposing a joint venture for its nuclear generation and operation business. EDF, which owns 9.5% of Constellation Energy and is its largest shareholder, said it believed the Buffett offer “significantly undervalues Constellation and its future opportunities.”

Constellation is running out of time, though. On Tuesday the company based in Baltimore, Maryland said it would have to file for bankruptcy protection without an immediate infusion of $1.0 billion from MidAmerican. Constellation’s management is thus likely to push hard for the existing bid to go through.

EDF’s bid, though financially more attractive in the short term, still probably isn’t enough to convince shareholders. “In terms of long term strategy, earnings stream and value is more clear cut if you are part of a merged entity and control 100.0% of it,” says Wirtz. A more likely outcome is that Constellation’s shareholders will put pressure on management to get a better deal from MidAmerican.

Wirtz believes EDF has also shown its vulnerable side through this offer. “It indicates that the company doesn’t have a ‘Plan B’ for entering the U.S. market,” he told Forbes.com. EDF withdrew its $35.0 a share offer for the whole of Constellation Energy in October, citing turbulent market conditions.

Shares of Electricite De France (nyse: EDF – news – people ) fell 5.5%, or 2.43 euros ($3.07), to 42.14 euros ($53.22), in Paris on Wednesday morning. Constellation Energy (nyse: CEG – news – people ) had risen 5.1%, to $25.15 on Tuesday and was up 21.2%, or $5.08, at $29.01 in pre-market trading on Wednesday.

With a touchscreen and advanced social networking and Net-connected features, the world’s largest phone vendor may be poised to mount a new threat to the iPhone.

December 2, 2008??? By Judy Mottl from internetnews.com

If Nokia’s N97 smartphone arrives on U.S. shores it could claim fame as a spoiler in today’s battle between Apple and Research in Motion (RIM) for the consumer smartphone user.

That’s because the N97 not only offers features both iPhone 3G fans and BlackBerry consumer users enjoy — a touchscreen display, full QWERTY keyboard and hefty video and music support — but it expands on those capabilities with an “always on” browser window and advanced social networking and messaging services.

Calling it the “world’s most advanced mobile computer,” Nokia (NYSE: NOK) debuted its latest high-end device today at the annual Nokia World event in Barcelona, Spain. The 3G device retails for approximately $700 U.S. and will be available in Europe in mid-2009.

Nokia, which did not respond to inquiries by press time, has not indicated a U.S. launch date.

“From the desktop to the laptop and now to your pocket, the Nokia N97 is the most powerful, multi-sensory mobile computer in existence,” Jonas Geust, vice president for Nokia Nseries, said in a statement.

The launch comes at a time when handset makers are battling for attention in an increasingly competitive environment. Smartphone vendors and wireless carriers have been revamping everything from their phones’ look and feel to their hardware and software in a heated race to attract users and grab greater market share.

The second coming of Apple’s (NASDAQ: AAPL) iPhone, the 3G, kicked off the most recent leg of the race this June, altering the U.S. smartphone landscape with its popular touchscreen features and support for application downloads and high-speed 3G connections.

Meanwhile, Nokia remains the world’s largest phone manufacturer but is feeling pressure from rivals’ successes. Research firm Canalys reported that the company’s share of the smartphone market fell to 38.9 percent during third quarter, from 51.4 percent a year before. Meanwhile, Apple’s market share increased to 17.3 percent, while BlackBerry maker RIM’s (NASDAQ: RIMM) grew to 15.2 percent over the same timeframe.

The market may yet see further upheaval. Dozens of new handsets have been hitting the market since the new iPhone made its debut. Google (NASDAQ: GOOG) introduced the first Android-based open source device, the HTC G1, while Research in Motion pushed out two new BlackBerry devices, the Bold and Storm, the latter becoming the company’s first-ever touchscreen device.

Social networking goes mobile

Nokia, with more than one billion users, hasn’t remained idle, however.

Until today, Nokia’s chief candidate for an “iPhone killer” had been its 5800 XpressMusic smartphone, which launched earlier this fall. It features a touchscreen and a drop-down menu for easy access to music, as well as one-touch access to a Web browser and other applications.

The user interface also provides a widescreen display — another feature similar to the iPhone’s and G1’s designs.

The new N97 builds on the 5800’s features, and also marks the latest in a steady stream of Nseries devices that Nokia has been introducing into the European and U.S. markets this year. Just three months ago, Nokia launched the N96, N85 and N79, ranging in price from $400 to $900.

The N97’s 3.5-inch widescreen display can be personalized with widgets and quick icon access to social networking services. It comes with 32GB of on-board storage and is expandable up to 48GB, courtesy of a slot for a 16GB microSD card.

Just like the 5800, the N97 supports Nokia’s Music Store — the company’s downloadable music marketplace — and offers 36 hours of playback time. Like the G1, it also offers support for Adobe Flash — a feature that Apple’s iPhone continues to lack.

The device also supports the popular IM networks like AOL’s AIM and Microsoft’s Windows Live Messenger.

But it’s the N97’s advanced tie-ins to social networking — dubbed its “social location” service — that Nokia is banking will spark the most user interest.

The feature relies on an integrated GPS sensor and electronic compass that together enable users to automatically update their statuses on the major social networks — so friends can always be alerted to their current whereabouts.

According to the company, such services will change how mobile users interact in the very near future.

“Today, we are at the threshold of another profound change in the way we connect and interact with each other and with our world,” Olli-Pekka Kallasvuo, Nokia’s president and CEO, said in a release. “We are, in fact, transforming the Internet.”

The N97 also supports new features debuting today on Nokia’s Ovi online service.

Mail on Ovi provides Web-based e-mail access that enables users to get to their device’s e-mail accounts from a PC. The new Maps on Ovi service enables users to plan a journey on a PC and synchronize it with the N97.

Nokia envisions that its service will become a destination site where users can share their location and content with friends.

“The Nokia N97 is the most powerful, multi-sensory mobile computer in existence,” Nokia’s Geust said in a statement.

“Together with the Ovi services, the N97 adjusts to the world around us, helping stay connected to the people and things that matter most.”

There was a web firestorm yesterday over an apparent warning from Apple that its users could be vulnerable to attack and should consider installing anti-virus software. It was a firestorm that we helped to fan with a story – and a post on this blog.

Now it appears that the story was old and that the message on the Apple support site, posted on 21 November, may have simply been an update of an advisory note published back in 2007. What’s more, the November message has now been removed – with no explanation.

So I’m sorry if we suggested that this was a major U-turn by Apple when it was not. Graham Cluley, who we quoted in the post, now describes the incident as “a fascinating example of how the internet can get carried away with itself”, and it is certainly true that bloggers and journalists (and I include myself) hate to be left out when this kind of storm brews up.

But Mr Cluley stands by his view that Mac users should not be complacent about their security: “Yes, the news that Apple is urging people to run anti-virus software isn’t actually news… apart from for the people who didn’t realise they had to run anti-virus software on their Apple Macs! – which seems to be quite a lot”. It is worth noting that Mr Cluley’s firm Sophos sells an anti-virus package for Macs and is presumably keen to boost its sales. I have to confess, as someone who has used both Macs and PCs for the last 12 years, that I have never installed any extra security on my Macs, and I’m still not convinved that I need to act.

And one thing that this incident does show is Apple’s split personality when it comes to communicating with its users and with the media. On the one hand, when it has a positive story to tell, it is brilliant at sending simple, bold messages to consumers and skilful in projecting its case to the media.

On the other, when things go wrong – complaints about scratched iPods or concerns about Steve Jobs’ health – this is a company which retreats into the Cupertino bunker, closes the door and says nothing.

So I contacted the Apple PR department at 1115 GMT on Tuesday to seek a comment on the story. Back they came twenty minutes later, with a promise to look into it and “keep you posted”. 23 hours later, I’m still waiting. So what is Apple’s advice to customers on whether there is any need to install anti-virus software? I’m still not clear – are you?