Saturday, June 2, 2007

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CarMax Disappoints as Used Car Prices Fall

DETROIT -(Dow Jones)- Used car retailer CarMax Inc. (KMX) on Thursday said fiscal fourth-quarter net income rose 15% driven by a 12% increase used vehicle sales and an income boost from its financing unit.

The Richmond-based retailer added, though, that used vehicle selling prices moderated "slightly" in the fourth quarter from earlier in the year and wholesale vehicle average selling prices were down.

CarMax has seen healthy sales in the past year and has expanded its store base by 15%. The company has set up a no-haggle, low-hassle used car superstore model.

Despite turmoil among U.S. auto makers, sales at car dealerships has remained relatively strong.

Net income for the fourth quarter ended Feb. 28 increased 15% to $42.1 million, or 19 cents a share, from $36.7 million, or 17 cents a share, a year earlier, adjusted for a 2-for-1 stock split on March 26.

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Xbox dividends

This one goes out to all the kids whose parents tell them to quit playing video games and do something meaningful, like memorizing an encyclopedia. The next time that happens, just say to mom or dad: "I'm trying to increase the spatial resolution of my vision, so would you get off my back? But first, bring me a Coke and some chocolate chip cookies, please." Or words to that effect.

Researchers at the University of Rochester published research recently suggesting that people who played video action games a few hours a day (what, that's all?) improved their ability to process certain visual information by 20 percent. They could read and interpret a standard eye chart a lot better than those who hadn't been playing video games.

The researchers hope to convert such findings into useful purposes such as help for individuals with amblyopia, or "lazy eye." It could be just one more example of suddenly converting to societal value a much-derided object, just as happened last year with Eddie Murphy in "Dreamgirls."

Seoul knows gamers' true worth

So maybe you're not impressed with any possibility your wonderful little game-brat's vision is going to benefit from his/her time in front of the Wii.

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Gas guzzler tax may drive us to change

Would you buy a fuel-efficient car if you got a tax break because of it? Will new tax rules in this week's federal budget mean the final, merciful end to commuter pickup trucks, single-passenger SUVs and needlessly thirsty muscle cars? Not likely.

Taxes on cigarettes and alcohol have helped reduce consumption of those products, but only slightly. We're not going to see a run on Toyota Corollas or a halt to Hummer sales just because of a rebate or an extra levy.

But times are changing quickly. And the end is near for needlessly big vehicles. Inexplicably, North Americans still associate big automobiles with success. In most

European communities, it's long been an embarrassment to be seen in such a vehicle.

California has regulations on tailpipe greenhouse gases. Ontario is talking about emission controls.

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New Vista System Causes Problems For Some PC Users

CLEVELAND -- If you buy a new computer this spring, chances are it will come with the new Windows Vista system installed on it.

Vista is supposed to be a big improvement, but some users are unhappy with it, reported NewsChannel5's John Matarese.

Computer owner Christie Hone is frustrated by the Vista operating system on her brand new computer.

"When it runs certain programs, the screen completely lacks out. When you go to install any software that is not digitally signed, it wont install it. There are so many things running in there compared to my Windows XP," said Hone.

Hone could go on for half an hour about the problems she'd had with the Vista PC. Her web camera won't install and most of her old computer games won't run.

"I think I have maybe one game from XP that I can get onto the system," said Hone.

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Partner Communications Reports First Quarter 2007 Results

ROSH HA'AYIN, Israel--(BUSINESS WIRE)--Partner Communications Company Ltd. ("Partner") (Nasdaq:PTNR)(LSE:PCCD)(TASE:PTNR), a leading Israeli mobile communications operator, today announced its results for the first quarter of 2007. Partner reported revenues of NIS 1.4 billion (US$ 341 million) in Q1 2007, EBITDA of NIS 455 million (US$ 109 million), the equivalent of 32.1% of total revenue, and net income of NIS 196 million (US$ 47 million).

Commenting on the results, Partner's CEO, David Avner, said: "the first quarter of 2007 was yet another good quarter for Partner. We are pleased to report that the number of 3G subscribers reached 333,000 at quarter end, more than 12% of our 2.7 million customer base. These customers enjoy a wide and continuously expanding range of 3G services and handsets.

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MAVERICKS PLAYBOOK

DALLAS -- For the second time in team history, the Mavericks swept the league's individual monthly awards.

Dirk Nowitzki was named Thursday as the Western Conference player of the month after averaging 27.1 points, 9.7 rebounds and 4.3 assists while shooting 54.2 percent from the field in February. Meanwhile, Avery Johnson was chosen as the Western Conference coach of the month after he guided the Mavs to a 10-0 record.

Back when the Mavs went 14-0 to start the 2002-03 season, Don Nelson was named the Western Conference Coach of the Month, while Steve Nash, Michael Finley and Nowitzki shared the conference's monthly award.

Not particularly big on individual honors, Johnson put the awards in perspective.

"You can't really win anything unless you win, and that's all we're really concerned about," he said.