Finance news. My opinion.

+%3Cp%3E+Shares+in+solar+power+company+First+Solar+fell+over+20%25+in+early+trading+Wednesday+after+the+firm+lowered+its+sales+forecast+for+2011.%3C%2Fp%3E%3Cp%3EThe+Arizona-based+company%2C+which+is+a+leading+maker+of+thin-film+solar+panels+and+also+a+developer+of+solar+power+projects%2C+predicted+net+sales+in+2011+of+%242.8+to+%242.9+billion.+That%27s+down+from+earlier+projections+of+%243.0+to+%243.3+billion.%3C%2Fp%3E%3Cp%3E%3Cp%3E%3C%2Fp%3E%3Cp%3E%3Cp%3E%3C%2Fp%3E%3C%2Fp%3E%3C%2Fp%3E%3Cp%3EThe+company+said+the+lower+sales+were+due+to+delays+in+its+projects+caused+by+weather+and+%26quot%3Bother+factors%2C%26quot%3B+but+predicted+a+healthy+2012.%3C%2Fp%3E%3Cp%3E%26quot%3BOur+diverse+business+model+and+robust+project+pipeline+will+help+First+Solar+generate+a+significant+amount+of+cash+in+2012+while+improving+operational+efficiencies%2C%26quot%3B+Mike+Ahearn%2C+Chairman+and+Interim+CEO+of+First+Solar%2C+said+in+a+statement+Wednesday.+%3C%2Fp%3ESolar+power+bankruptcies+loom+as+prices+collapse%3Cp%3EThe+company%2C+which+has+been+steadily+growing+in+profitability+since+2007%2C+is+expecting+its+earnings+per+share+to+range+between+%243.75+and+%244.25+in+2012.+%3C%2Fp%3E%3Cp%3EThin+film+solar+panels+are+less+efficient+than+traditional+silicon-based+solar+panels+but+have+historically+been+cheaper+to+produce.+%3C%2Fp%3E%3Cp%3ELike+all+solar+panel+makers%2C+shares+in+First+Solar+%28%29+have+been+battered+this+year+as+a+huge+oversupply+and+slack+demand+caused+the+price+of+silicon+solar+panels+to+plummet.+First+Solar+shares+are+down+over+70%25+since+January.%3C%2Fp%3E%3Cp%3EDozens+of+solar+panel+makers+are+expected+to+go+bankrupt+this+year+as+the+depressed+prices+prune+weaker+companies+from+the+market.%3C%2Fp%3E%3Cp%3EThe+most+visible+victim+of+the+price+collapse+so+far+has+been+Solyndra%2C+a+maker+of+advanced+but+pricey+solar+panels+that+went+bankrupt+after+receiving+a+half-billion+dollar+loan+backed+by+the+U.S.+government.%3C%2Fp%3E%3Cp%3E%3C%2Fp%3E%3Cp%3E+%3C%2Fp%3E%3Cp%3EFirst+Solar+does+not+have+any+government-backed+loans.%3C%2Fp%3E%3Cp%3EJesse+Pichel%2C+an+analyst+at+the+investment+bank+Jefferies+%26amp%3B+Co.%2C+maintained+a+hold+rating+on+First+Solar+stock+earlier+this+week+even+in+anticipatiinon+of+the+lowered+sales+figures.+%3C%2Fp%3E%3Cp%3EStill%2C+Pichel+said+the+company+has+to+work+on+lowering+costs.%3C%2Fp%3E%3Cp%3E%26quot%3BFirst+Solar+has+projects+which+are+profitable+and+is+not+a+bankruptcy+risk+near+term+in+our+view%2C%26quot%3B+he+said.+%26quot%3BBut+the+future+of+the+company+will+be+determined+by+its+ability+to+lower+module+costs+and+increase+efficiency.%26quot%3B+%26nbsp%3B+%3C%2Fp%3E++%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fmoney.cnn.com%2F2011%2F12%2F14%2Ftechnology%2Ffirst_solar%2Findex.htm%27+rel%3D%27nofollow%27%3ESource%3C%2Fa%3E%3C%2Fp%3E+

+%3Cp%3E+Cell+phone+bans%2C+such+as+those+recently+recommended+by+the+National+Transportation+Safety+Board%2C+have+so+far+proven+useless+when+it+comes+to+actually+reducing+car+crashes%2C+according+to+the+Insurance+Institute+for+Highway+Safety.%3C%2Fp%3E%3Cp%3EThe+Insurance+Institute+is+a+private+group+financed+by+auto+insurers.+The+National+Transportation+Safety+Board+recently+recommended+that+states+adopt+strict+rules+banning+all+non-driving-related+use+of+hand-held+devices+such+as+cell+phones+–+even+hands-free+–+while+driving.%3C%2Fp%3E%3Cp%3E%3Cp%3E%3C%2Fp%3E%3Cp%3E%3Cp%3E%3C%2Fp%3E%3C%2Fp%3E%3C%2Fp%3E%3Cp%3EMany+states+already+have+bans+on+hand-held+cell+phone+use+and+on+texting+while+driving.+The+Insurance+Institute+has+studied+crash+rates+before+and+after+bans+were+enacted+in+various+states+and+also+compared+them+to+crash+rates+in+nearby+states+with+no+such+bans.%3C%2Fp%3E%3Cp%3EWhile+the+bans+have+resulted+in+actual+reductions+in+phone+use%2C+they+have+not+resulted+in+any+reduction+in+crash+rates%2C+according+to+the+Institute.%3C%2Fp%3E%3Cp%3EThe+Institute+found+similar+results+from+bans+on+text+messaging+while+driving.+In+fact%2C+in+a+strange+twist%2C+texting+bans+actually+resulted+in+more+crashes+in+several+states%2C+according+to+an+IIHS+study.%3C%2Fp%3E%3Cp%3EThe+lesson%2C+Insurance+Institute+spokesman+Russ+Rader+said%2C+may+be+that+cell+phones+aren%27t+really+the+problem%2C+drivers+are.%3C%2Fp%3EGallery%3A+Safest+cars+from+the+Insurance+Institute%3Cp%3E%26quot%3BPart+of+it+is+that+distracted+driving+is+much+bigger+than+just+phones%2C%26quot%3B+he+said+%26quot%3Bso+focusing+on+phones+doesn%27t+deal+with+the+full+spectrum+of+things+that+distract.%26quot%3B%3C%2Fp%3E%3Cp%3EFor+its+part%2C+the+NTSB+has+cited+various+studies+showing+a+connection+between+cell+phone+use+and+an+increased+likelihood+of+crashing.+An+NHTSA+study+indicated+that+distracted+driving+caused+about+3%2C000+crash+deaths+last+year%2C+although+it%27s+not+clear+how+many+of+those+crashes+were+related+to+hand-held+devices+as+opposed+to+other+distractions.%3C%2Fp%3E%3Cp%3E%26quot%3BWhat+we+know+is+that+the+best+course+of+action+is+a+three+pronged+approach+–+strong+laws%2C+strong+education+and+strong+enforcement%2C%26quot%3B+NTSB+spokeswoman+Kelly+Nantel+said+in+an+email.%3C%2Fp%3E%3Cp%3EAutomakers%2C+including+Ford+%28%2C+Fortune+500%29%2C+General+Motors+%28%2C+Fortune+500%29%2C+Toyota+%28%29+and+Hyundai+%28%29+have+invested+heavily+in+creating+increasingly+sophisticated+hands-free+phone+systems+for+cars+%3Ca+href%3D%22http%3A%2F%2Fpay-day-loans-4all.com%22%3Efaxless+pay+day+loans%3C%2Fa%3E%3C%21–+.+–%3E.+Most+of+those+systems+would+be+banned+under+the+NTSB%27s+proposal.+%28An+exception+would+be+GM%27s+OnStar+which+allows+users+to+make+calls+using+a+telephone+built+into+the+car+itself.+The+NTSB+proposal+would+specifically+allow+calls+on+that+sort+of+system+since+it+does+not+involve+a+handheld+phone.%29%3C%2Fp%3E%3Cp%3EFord+spokeswoman+Christin+Baker+objected+to+the+NTSB+proposal+citing+research+that+tracked+real-world+drivers.+The+research+showed+that+talking+on+a+phone+resulted+in+dangerous+incidents+only+when+drivers+took+their+eyes+off+the+road+and+their+hands+off+the+steering+wheel.+Voice-activated+systems+like+Ford%27s+Sync+would+prevent+that%2C+she+said.%3C%2Fp%3E%3Cp%3EExperts+have+said+the+NTSB%27s+proposal+is+unlikely+to+become+law+in+many%2C+if+any%2C+states+due+to+strong+resistance+from+drivers+who+want+to+stay+in+communication+while+driving.%3C%2Fp%3E%3Cp%3ENew+technologies+that+help+alert+drivers+to+hazards+on+the+road+would+probably+do+more+to+actually+reduce+distracted+driving+crashes%2C+the+Insurance+Institute%27s+Rader+said.%3C%2Fp%3E%3Cp%3E%3C%2Fp%3E%3Cp%3E+%3C%2Fp%3E%3Cp%3ESuch+technologies+include+forward+collision+warning+systems+that+alert+drivers+to+stopped+or+slow-moving+cars+or+pedestrians+ahead+of+them+and+lane+keeping+assistance+systems+that+warn+when+a+vehicle+is+drifting+out+of+its+lane.%3C%2Fp%3E%3Cp%3EBoth+the+Insurance+Institute+and+the+U.S.+Department+of+Transportation+are+looking+at+ways+to+incorporate+safety+systems+like+these+in+their+assessments+of+car+safety.+As+of+now%2C+such+assessments+rely+almost+entirely+on+crash+tests.%3C%2Fp%3E%3Cp%3EThere+is+the+danger+that+drivers+might+over-rely+on+these+systems%2C+said+Rader%2C+canceling+out+their+benefits+by+just+paying+even+less+attention+to+the+task+of+driving.%3C%2Fp%3E%3Cp%3E%26quot%3BThat+is+the+thing+researchers+are+going+to+be+watching%2C%26quot%3B+said+Rader.+%26quot%3BHow+are+drivers+going+to+respond+to+these+systems%3F%26quot%3B%26nbsp%3B+%3C%2Fp%3E++%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fmoney.cnn.com%2F2011%2F12%2F15%2Fautos%2Fiihs_cell_phone_bans%2Findex.htm%27+rel%3D%27nofollow%27%3ESource%3C%2Fa%3E%3C%2Fp%3E+

Rescue workers are searching for 49 men in freezing, remote waters off Russia’s east coast after their oil drilling platform capsized and sank amid fierce storms Sunday.

By nightfall, four men had been confirmed dead, and 14 others had been plucked from the churning, icy waters by the ship that had been towing the Kolskaya platform. But the search for the remaining men was hampered by freezing temperatures, a driving blizzard and strong winds.

Dmitry Dmitriyenko, governor of the Murmansk region in Russia’s north-west where 33 of the men come from, urged friends and families not to lose hope late Sunday, but admitted the chance of the men surviving in the one degree Celsius (33.8 Fahrenheit) water is approaching zero.

“This is a terrible disaster which took the crew unawares,” he said in a statement. “But there is still a chance.”

The Emergencies Ministry said that 67 people had been aboard the platform as it was being towed about 200 kilometers (120 miles) off the coast of Sakhalin, a large island just north of Japan in the North Pacific, that until the late 19th century was the Russian Empire’s most remote penal colony.

Airplanes and helicopters patrolled the area Sunday, but called their search off just after sunset. Ministry officials said two boats will continue the search throughout the night, and the air search team would return with another two ships in the morning.

The Transportation Ministry said the platform started sinking after a strong wave broke some of its equipment and the portholes in the crew’s dining room.

One 5-meter (16-foot) wave washed away its lifeboats, leaving the crew with no escape, and several hours later it sank, officials said.

There were no immediate reports of environmental damage _ unlikely as the platform was not drilling for oil when it capsized and carried a negligible amount of fuel.

The Kolskaya was built in Finland in 1985 and is owned by Russian offshore exploration firm Arktikmorneftegazrazvedka.

Sakhalin is a largely undeveloped area, dominated by pristine nature. Russia, United States, Europe and Japan have worked off its shores for a nearly decade, producing oil and gas. There have not been any previous significant accidents in the region.

As oil and gas fields in Eastern Siberia are becoming depleted, Russian oil and gas companies are starting to shift their focus to offshore projects, unveiling ambitious plans to tap the riches of the Arctic.

Earlier this year, Exxon Mobil and Russia’s largest oil producer Rosneft teamed up to jointly explore oil and gas fields in the Kara Sea with Exxon pledging $3.2 billion of investment on only three fields.

The Investigative Committee on Sunday opened a probe into the accident and said that it might have happened because of a breach of safety regulations, or due to the harsh weather conditions.

Alexei Knizhnikov, an energy policy official in Russia for the World Wildlife Fund, told the RIA Novosti news agency that energy companies ought to learn from the accident.

“This disaster should highlight the high risks of offshore projects,” he said. “It’s very difficult to conduct efficient rescue operations, whether it’s rescuing people or dealing with oil spills, in the weather and conditions of the Arctic.”

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Sony’s long-awaited PlayStation Vita portable game machine has hit stores in Japan as thousands of game enthusiasts lined up at shops from early in the morning.

Sony is predicting brisk sales, even though Saturday’s launch may have missed some holiday shoppers. A successful debut would help the company offset the rest of its struggling business.

The device is a touch-interface and motion-sensitive handheld seen as a successor to the PlayStation Portable. Vita’s launch will heat up competition with rival Nintendo Co.’s 3DS.

Many of the purchasers Saturday had made advance orders on the Internet so they can start playing immediately.

The PS Vita goes on sale in North America and Europe on Feb. 22.

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Facebook has opened its new Timeleine feature to all 800 million of its users, the social network announced on Thursday morning.

The new feature replaces a user

Lee Enterprises, owner of the St. Louis Post-Dispatch and other newspapers, filed for prepackaged bankruptcy early today in an effort to refinance about $1 billion in debt.

The bankruptcy was expected. Two weeks ago, the Davenport, Iowa-based publisher announced it would file for bankruptcy “on or about Dec. 12″ as part of a debt refinancing plan it had successfully negotiated with creditors.

Lee filed its Chapter 11 bankruptcy petition in the Wilmington, Del., bankruptcy court, becoming the latest newspaper publisher saddled with debt to seek the court to help its finances. Though based in Iowa, the publisher is incorporated in Delaware.

The company said that the bankruptcy will have no impact on its business and that its papers will continue to publish. Vendors, advertisers, subscribers, employees and the company’s operations will not be affected.

In its bankruptcy filing, Lee lists $1.15 billion in assets and $994.5 million in liabilities.

When the publisher announced its bankruptcy plans, Lee said had secured agreements with nearly all of its creditors, which it predicted would allow an exit from bankruptcy in 60 days or less.

The filing is unusual in that the company plans to shed no debt and pay a higher interest rate to all lenders.

In return, lenders agreed to extend the loans - now due in April - until at least December 2015. The plan also preserves most of the stock’s value, allowing Lee to continue trading on the New York Stock Exchange during the bankruptcy process.

Lee also previously said it would cede a 13 percent ownership stake to three creditors, Goldman Sachs, Monarch Master Funding Ltd., and Franklin Templeton/Mutual Quest Fund.

The newspaper publisher says the refinancing plan is needed to keep it in business.

“Our ability to operate as a going concern is dependent on our ability to obtain approval by the U.S. Bankruptcy Court of the refinancing plan approved by creditors and to generate cash flows and maintain liquidity sufficient to service our debt,” the company said Friday in its annual report.

Though the refinancing plan will increase its higher interest payment - it would pay an average of 9.2 percent interest rate on its debt versus 5.1 percent currently - the publisher said it can pay that level of interest while also paying down the principal.

Lee’s newspapers turn an operating profit, and Lee has been making its debt payments. But the company, one of the nation’s largest newspaper chains, has been struggling for months to refinance the debt before it comes due in April.

Like other newspaper chains, Lee piled on debt to make acquisitions, then only to suffer from declining circulation and advertising revenue brought on both by the sluggish economy and the migration of advertising revenue and readers to the Internet.

Without refinancing, Lee would not have the cash to repay the maturing debt.

An effort to issue junk bonds in the spring failed, forcing the company to negotiate a refinancing plan this summer with creditors. Those negotiations led the refinancing plan with two groups of creditors.

One group holds about $865 million in debt secured by properties that Lee owned before 2005. Most of that debt was assumed that year when Lee bought St. Louis-based Pulitzer Inc., then the owner of the Post-Dispatch, for $1.5 billion.

The company said 94 percent of those debt holders have agreed to the deal. At one point, Lee hoped to borrow money to redeem the debt of those creditors not consenting to the refinancing, but those plans fell through.

A second group of creditors holds $138 million in debt, which Lee inherited with the Pulitzer deal. That debt is secured by the old Pulitzer properties, including the Post-Dispatch. All of those creditors agreed to the deal.

To deal with creditors not agreeing to the refinancing, the Lee has resorted to a prepackaged bankruptcy, in which a company works out terms with most creditors in advance. This allows the debtor to quickly reorganize and emerge from bankruptcy. The company then uses the bankruptcy proceedings to force its plan on lenders who didn’t agree to the refinancing.

In order to gain approval of the prepackaged plan, at least 50 percent of each class of creditors must vote to approve it, and those voting for it must own two-thirds of the dollar amount of the debt.

Dissenters can object, but they must convince the court that the deal is not fair and equitable.

Lee newspapers have a combined daily circulation of 1.3 million and Sunday circulation of 1.6 million, as of the end of September. Lee also owns nearly 300 specialty publications, including the Suburban Journals of Greater St. Louis, Ladue News, and Feast and St. Louis’ Best Bridal magazines.

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An investigator has denied any role in the death of ailing lawyer Sergei Magnitsky while he was imprisoned in a Moscow jail for tax evasion.

Oleg Silchenko, a senior investigator at the Interior Ministry’s Investigative Department, made his first public appearance at a news conference Thursday.

Magnitsky was imprisoned in 2008 and died of untreated pancreatitis in Nov. 2009. His family blame Silchenko for his continued detention.

Grilled by reporters, Silchenko said he had no powers to recommend the ailing lawyer for extra medical treatment and believed Magnitsky could have pressured witnesses if released us fast cash.

Silchenko is top of a list of dozens of Russian officials barred by the United States from entering the country for his alleged role in the death.

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At your Thanksgiving table, you may have joined millions of Americans giving thanks for the good health, happiness and love in your family.

Polls show that people have grown increasingly appreciative of these elements in their lives as financial matters have become shakier. Here are eight money matters that may make people thankful.

Stocks are wavering between gains and losses in light trading Friday, with the S&P 500 index edging up following six straight days of losses. Even with modest gains, major indexes remain on track to post their worst week since September.

Worries about Europe’s debt crisis flared up again Friday after Italy had to pay 7.8 percent to borrow for two years at a debt auction. It’s another sign that investors are growing hesitant to lend to European countries.

The Dow Jones industrial average rose 16 points, or 0.1 percent, to 11,272 as of 12:10 a.m. Eastern. Travelers Cos. Inc was up 1.4 percent, the most of the Dow’s 30 stocks.

The Dow remains down 4.5 percent for the week, putting the average on track for its worst week since late September.

The S&P 500 index is up 1 point to 1,162. The Nasdaq is down 12 points, or 0.1 percent, to 2,448.

The euro slipped to $1.32 and is now down 2 percent this week against the dollar. The drop puts the euro at its lowest level since Oct. 6.

Higher interest rates on government debt backed by Italy, Spain and other European countries have rattled stock markets in recent weeks. When borrowing costs climb above the 7 percent threshold, it deepens fears about a government’s ability to manage its debts. Greece, Ireland and Portugal were forced to seek financial lifelines when their interest rates crossed the same mark no faxing 1 hour payday loans.

Markets have been battered this week as governments in Europe and the U.S. struggle to tackle their debts. The Dow lost 248 points on Monday as a Congressional committee failed to reach a deal to cut federal budget deficits. It plunged 236 points Wednesday after investors balked at buying German government debt.

In midday trading, AT&T’s stock was down less than 1 percent. The company said Thursday that it’s budgeting to pay $4 billion in break-up fees if its attempted $39 billion takeover of T-Mobile USA from Deutsche Telekom falls apart.

Retailers were trading mixed on the Friday after Thanksgiving, the traditional start of the holiday shopping season and usually the busiest day of the year for retailers. Amazon.com Inc. dropped 3.3 percent. Macy’s Inc. inched up less than 1 percent.

A record number of people are expected to show up at stores this weekend to take advantage of deep discounts. The National Retail Federation estimates that 152 million people will go shopping over the three days starting on Friday. That would be an increase of 10 percent from last year.

Trading will end at 1 p.m. Eastern time. U.S. markets were closed on Thursday for the Thanksgiving holiday.

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Russian investigators say they won’t close a probe against a Russian lawyer who died in jail of an untreated illness.

Sergei Magnitsky died in November 2009. He had been charged with tax evasion and arrested by the same police officials he had accused of a $230 million tax fraud. His death sparked outrage in Russia and globally.

Magnitsky’s family petitioned to get the probe against him closed. But the Investigative Department of the Interior Ministry said Thursday they must still contact his other close relatives to make sure they agree payday loan.

Magnitsky’s mother says Magnitsky does not have other close relatives.

Two prison doctors have been charged with oversight leading to death, but none of the officials Magnitsky accused of framing him have faced charges.

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