Financial news on July 1st, 2006

Business and Financial news
Another Installment of the Bad Customer Service Files

A customer recorded his phone call to America Online in an attempt to cancel his account. Read more..

By DAVID POGUE - The New York Times

Big Holder Looks to Turnaround Artist to Transform G.M.

DETROIT, June 30 — Carlos Ghosn has never recoiled from big challenges, and the auto industry has none bigger than fixing General Motors. Read more..

By NICK BUNKLEY - The New York Times

Billions Spent on Deals and Billions Given Away

It was a week of "can you top this" deal making, not only on Wall Street and in London, but in the humbler settings of Omaha and Seattle. Read more..

By MARK A. STEIN - The New York Times

Blackstone Plans to Acquire Cendant Travel Services Unit

The Cendant Corporation said it would sell its Travelport unit, which owns Orbitz, Cheaptickets and other travel services, for $4.3 billion in cash. Read more..

By CLAUDIA H. DEUTSCH - The New York Times

For the Loser of Fine Watches

For the chronic loser, those street-vendor Rolexes and Cartiers will work just fine. Read more..

By HARRY HURT III - The New York Times

Generic Drugs: The Window Has Loopholes

A drug maker can license what has come to be called an "authorized generic" of its drug once its patent is broken. Read more..

By JOE NOCERA - The New York Times

Holiday Inn Sees Replay of the 50's in China

Chinese tourists traveling within China might be bunking in a Holiday Inn if the chief executive of the InterContinental Hotels Group has his way. Read more..

By HEATHER TIMMONS - The New York Times

I Got Millions for Writing This Article

Call it price dropping: the annoying habit some people have of oh-so-casually letting you know how much they paid for that Weber grill. Read more..

By M. P. DUNLEAVEY - The New York Times

MasterCard Criticized on Bank Fees by Europe

The European Commission accused MasterCard of restrictive business practices in the European credit and debit card market. Read more..

By PAUL MELLER - The New York Times

Professor at Columbia Nominated to the Fed

Frederic S. Mishkin has been a prolific author of books and articles about central banking. Read more..

By EDMUND L. ANDREWS - The New York Times

See what else happened on July 1st, 2006