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On the one hand, you'll likely never find anything so aptly named in finance. It is indeed a beige book. But its real title is the Summary of Commentary on Current Economic Conditions by Federal Reserve District. About two weeks before the Federal Open Market Committee meets to decide on interest rates, Fed governors get a compilation of how individual Federal Reserve banks view their economic health. (Actually, a different Fed bank is responsible each time to put it together, so they pass the workload around like roommates deciding who'll do the dishes.)
Obviously, it's important stuff. Since it's rather timely, many stock traders and economists use it to gauge whether the Fed has the same view of economic conditions as the market seems to.
But it's not scientific -- even the Fed admits that it's "anecdotal." And the Beige Book is the result of dozens of interviews with economists, bank branch managers, market experts and business leaders. As a result, a survey of pessimists in a district can paint a decidedly glass-half-empty picture. What's more, the Beige Book surveys all 12 Fed districts, and economic conditions in Cleveland can be much different than, say, Richmond, Va.
As a result, the Beige Book is rarely a market-mover, unless it contradicts a bunch of other data. So, check out the summary, but you can find better reports to read before nodding off.
Home / Markets / Industries / Technology
Tuesday, July 01, 2008
PlayPhone Teams Up With Virgin Mobile USA
Comtex
SAN JOSE, CA, Jul 01, 2008 (MARKET WIRE via COMTEX) ----Virgin Mobile USA customers have direct online access to some of the hottest mobile downloads including those of PlayPhone, Inc., (www.playphone.com) which operates the largest network of mobile content destinations in North America. PlayPhone announced today it will power off-deck mobile entertainment content for the leading no-contract wireless provider's more than five million customers. Some of the unique content includes wallpapers and ringtones from partners such as SONY BMG, Cartoon Network and Disney.
"Virgin Mobile USA has a customer base whose demographics are completely in line with the entertainment content we provide," said Ron Czerny, founder and chief executive officer at PlayPhone. "We are delighted that Virgin Mobile USA can now offer their consumers even greater variety when it comes to having fun on their phone."
"We are very focused on providing the best services and entertainment to our customers," added Lauren King, product manager, off-portal content at Virgin Mobile USA. "We believe that PlayPhone is a valuable off-deck addition to deliver a diverse and engaging mobile experience."
PlayPhone offers expanded distribution for its top-tier content partners, which, in North America, currently include SONY BMG, EMI Group, Cartoon Network, SEGA, Bandai, Disney, Glu Mobile, Konami, Vivendi Universal, Sony Pictures Entertainment, ABC Television, Platinum Studios and many more.
PlayPhone gives consumers access to a new and exclusive media catalog spanning audio, video and gaming content from leading music labels and artists, game publishers and media companies. In addition to operating its consumer facing mobile destination at PlayPhone.com in both English and Spanish, it also powers mobile content destinations for entertainment and retail brands including Wal-Mart, ABC Television, Cartoon Network, Adult Swim, Sega, Real Networks, iPlay and many more.
About Virgin Mobile USA
Virgin Mobile USA (NYSE: VM), through its operating company, Virgin Mobile USA, L.P., offers more than five million customers control, flexibility and choice in wireless service, rich data content and innovative products without annual contracts. Voice pricing plans range from monthly options with unlimited nights and weekends to by-the-minute offers, allowing consumers to adjust how and what they pay according to their needs. Virgin Mobile USA's smart, stylish and affordable handsets, including the Wild Card, Slash and Flare, are available in more than 40,000 retailers nationwide and online at http://www.virginmobileusa.com, with Top-Up cards available at more than 140,000 locations.
J.D. Power and Associates ranked Virgin Mobile USA highest in customer satisfaction among wireless prepaid services in both 2006 and 2007, and its customers report a 90% satisfaction rate. Virgin Mobile USA contributes a portion of profits from downloadable content to The RE*Generation, its pro-social initiative to help homeless youth; and provides postage-paid return envelopes in every new phone package for customers to recycle old phones. Virgin Mobile USA's national coverage is powered by the nationwide Sprint PCS network.
About PlayPhone, Inc.
PlayPhone (www.playphone.com) is a leading global mobile media company present in 20 countries throughout North America, Europe, Asia and Latin America that provides cutting edge personalization and entertainment content in English and Spanish to mobile consumers anytime, anywhere. PlayPhone founded the direct-to-consumer mobile media distribution standard in 2003 and continues to establish new means for delivering wireless entertainment. PlayPhone is based in San Jose, Calif. and is funded by top venture firms Menlo Ventures, Cardinal Venture Capital and Scale Venture Partners.
Media Contacts: Hugo Reyes PlayPhone, Inc. 408.261.6200 xt.274 Email Contact Corinne Nosal Virgin Mobile USA 908.607.4235 Email Contact
SOURCE: PlayPhone, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=D4E9625DB6E17314 http://www2.marketwire.com/mw/emailprcntct?id=434FBDD65C8C44B9
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