Google Acquires, Pfizer Hurts and Retail is Cynical

Google Inc. (NASDAQ:GOOG) is shifting into high acquisition mode for 2009 and forward.  While Google announces this good news, Pfizer Inc. (NYSE:PFE) is feeling some pain over its roots to asbestos.  Then there is the retail world, which is displaying a bleak outlook for the balance of 2009.

It is reported that Google’s has turned on its acquisitions again.  Google’s Chief Exec, Eric Schmidt, anticipates doing one small deal per month instead of staffing up. Schmidt believes the global recession is over and is looking to do some company shopping.  Google stopped acquiring companies earlier this year due to high prices. Read More

Former asbestos-maker, Quigley, is involved in a bankruptcy trial that includes a partial decision for liability of parent company Pfizer.   The $5B in claims are much mightier than the $450M contribution offered under settlement by Pfizer.  A Manhattan judge will be presiding over the case of government and victims versus Pfizer. Quigley ceased operations in 1992 and is looking to reorganize.  Read More

Several retailers are anticipating holiday hiring will be lighter this year than last. Just under half of some big retailers expect to hire between 5% and 25% fewer temp workers than last year's dismal retail  season.  According to reports, the same survey in 2008 found 29% of retailers saying they'd cut workers versus the current report of about 40%. Read More

Disclosure: No positions in GOOG or PFE.