The lightbulb as we know it may be gone from store shelves by 2016. A coalition of energy specialists, environmentalists and lighting manufacturers (including the largest, Philips Lighting) announced their intention to eliminate completely the incandescent light bulb and replace it with more efficient alternatives. GE, however, is not part of the coalition and has been campaigning against the elimination of the incandescent bulb because the company claims to have developed an incandescent technology that's as efficient as today's compact-fluorescents.
General Motors reported positive cash flows and profit just shy of $1 billion in its fourth quarter statements. Chief executive Rick Wagner said the earnings show that GM's recovery plan is working, and faster than many analysts expected. The company's performance improved largely as a result of solid execution on their cost-cutting strategy, putting it ahead of its Detroit neighbors, Ford and Chrysler.
One of the nation's largest health insurers, Wellpoint, has lost a compact disk containing vital medical records of more than 75,000 Blue Cross and Blue Shield members. Wellpoint has suffered data security issues in the past, and the current disaster puts their data management practices into question.