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Tuesday, April 6, 2010
On Vaction 04/05/10 to 04/19/10
We will not be posting news to this blog on Vacation for 2 weeks. We will start re posting Monday 04/19/10.
Friday, April 2, 2010
Top Business & Political News
Jobs report. US employers created jobs in March at the fastest rate in three years as private firms stepped up hiring, the strongest signal yet that the economic recovery is on a solid footing and needs less government help. Non-farm payrolls rose 162,000 and the unemployment rate held steady at 9.7 percent for a third straight month, the Labor Department said Friday.
AIG on track to repay Government before 2013. American International Group's chief executive said on Thursday that he is "pretty comfortable" the bailed-out insurer will be able to repay the U.S. government before the 2013 expiration of its credit line.
AIG on track to repay Government before 2013. American International Group's chief executive said on Thursday that he is "pretty comfortable" the bailed-out insurer will be able to repay the U.S. government before the 2013 expiration of its credit line.
President Obama Makes Unannounced Stop in Massachusetts ... President Obama made an unannounced stop upon landing in Massachusetts at the headquarters for the emergency agency handling the response to the massive floods, to thank the workers and volunteers. Political Punch Blog.
Accel Invests in Personal Finance Site for Women - Bits Blog ... LearnVest, a New York start-up that runs a Personal Finance site for women, got a boost to its own Finances.
Thursday, April 1, 2010
Top Business & Political News 04/01/10
Weekly jobless claims drift lower before big march report. The Labor Department said Thursday that new jobless benefit claims dropped 6,000 to a seasonally adjusted 439,000, nearly matching analysts' estimates. It's the fourth drop in five weeks. The four-week average of claims, which smooths volatility, fell by nearly 7,000 to 447,250, the lowest total since the week of Sept. 13, 2008, just before Lehman Brothers collapsed and the financial crisis intensified.
Automakers post big double-digit March sales increases. General Motors, Ford Motor and Toyota Motor all posted sharp year-over-year sales gains in March, benefiting from new incentives and a slowly improving economy. GM, which discontinued its Hummer, Pontiac, Saab and Saturn brands in the last year, saw a 37.8 percent increase in March sales for its continuing, core brands: Buick, Cadillac, Chevrolet and GMC. Ford meanwhile, reported an adjusted 34.4 percent sales rise in March over last year. The increase was less than the 38.3 percent auto analysts had expected, but still allowed Ford to increase its market share for the 17th time in the last 18 months. Sales at toyota jumped 35.3 percent on an adjusted basis as unprecedented incentives sent customers flocking back to showrooms. Toyota said it sold 186,873 cars and trucks in March, up from 132,802 a year earlier. The gains follow a dismal February, when sales fell 9 percent due to safety-related recalls of millions of vehicles.
Automakers post big double-digit March sales increases. General Motors, Ford Motor and Toyota Motor all posted sharp year-over-year sales gains in March, benefiting from new incentives and a slowly improving economy. GM, which discontinued its Hummer, Pontiac, Saab and Saturn brands in the last year, saw a 37.8 percent increase in March sales for its continuing, core brands: Buick, Cadillac, Chevrolet and GMC. Ford meanwhile, reported an adjusted 34.4 percent sales rise in March over last year. The increase was less than the 38.3 percent auto analysts had expected, but still allowed Ford to increase its market share for the 17th time in the last 18 months. Sales at toyota jumped 35.3 percent on an adjusted basis as unprecedented incentives sent customers flocking back to showrooms. Toyota said it sold 186,873 cars and trucks in March, up from 132,802 a year earlier. The gains follow a dismal February, when sales fell 9 percent due to safety-related recalls of millions of vehicles.
Business Jets, an Economic Indicator? - DealBook Blog - NYTimes.com From the DealBook Spring 2010 special section: Business jet use has been falling sharply for the last two years. But a recovering economy and increased sales overseas may be propelling jet use back up.
Accel Invests in Personal Finance Site for Women - Bits Blog ... LearnVest, a New York start-up that runs a Personal Finance site for women, got a boost to its own Finances.
Tuesday, March 30, 2010
Top Business & Political News 03/30/10
Companies push to repeal provision of health law. An association representing 300 large corporations urged President Obama and Congress on Monday to repeal a provision of the health care overhaul that prompted AT&T , Caterpillar and other companies to announce substantial charges for the current quarter. The association, the American Benefits Council, said the provision — which reduces the tax deductions for companies with drug coverage for their retired employees — would deal a significant blow to corporate profits and would discourage companies from hiring more workers. AT&T announced last week that it was taking a $1 billion charge because of the provision. Deere & Company announced a $150 million charge, Caterpillar a $100 million charge, and 3M a $90 million charge.
State debt woes grow too big to camouflage. California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired public workers who are counting on benefits that are proving harder and harder to pay. And states are responding in sometimes desperate ways, raising concerns that they, too, could face a debt crisis. New Hampshire was recently ordered by its State Supreme Court to put back $110 million that it took from a medical malpractice insurance pool to balance its budget. Colorado tried, so far unsuccessfully, to grab a $500 million surplus from Pinnacol Assurance, a state workers’ compensation insurer that was privatized in 2002. It wanted the money for its university system and seems likely to get a lesser amount, perhaps $200 million. Connecticut has tried to issue its own accounting rules. Hawaii has inaugurated a four-day school week. California accelerated its corporate income tax this year, making companies pay 70 percent of their 2010 taxes by June 15. And many states have balanced their budgets with federal health care dollars that Congress has not yet appropriated.
Consumer confidence rebounds in March on job hopes. U.S. consumer confidence rebounded in March, helped by a slight increase in optimism about the labor market, according to a private report released Tuesday. The Conference Board, an industry group, said its index of consumer attitudes rose to 52.5 in March from an upwardly revised 46.4 in February. The expectations index rose to 70.2, from a revised 62.9. The present situation index rose to 26.0, the most since May 2009, up from a revised 21.7 in February.
State debt woes grow too big to camouflage. California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired public workers who are counting on benefits that are proving harder and harder to pay. And states are responding in sometimes desperate ways, raising concerns that they, too, could face a debt crisis. New Hampshire was recently ordered by its State Supreme Court to put back $110 million that it took from a medical malpractice insurance pool to balance its budget. Colorado tried, so far unsuccessfully, to grab a $500 million surplus from Pinnacol Assurance, a state workers’ compensation insurer that was privatized in 2002. It wanted the money for its university system and seems likely to get a lesser amount, perhaps $200 million. Connecticut has tried to issue its own accounting rules. Hawaii has inaugurated a four-day school week. California accelerated its corporate income tax this year, making companies pay 70 percent of their 2010 taxes by June 15. And many states have balanced their budgets with federal health care dollars that Congress has not yet appropriated.
Consumer confidence rebounds in March on job hopes. U.S. consumer confidence rebounded in March, helped by a slight increase in optimism about the labor market, according to a private report released Tuesday. The Conference Board, an industry group, said its index of consumer attitudes rose to 52.5 in March from an upwardly revised 46.4 in February. The expectations index rose to 70.2, from a revised 62.9. The present situation index rose to 26.0, the most since May 2009, up from a revised 21.7 in February.
Bank of America Merrill Lynch strengthens global Corporate Banking ... Firm to Significantly Grow Corporate Banking Platform around the World Bank of America Merrill Lynch announced a series of new hires to its Corporate Banking.
Diagnose Your Personal Finance Health with Eight Questions ... The New York Times' Financial Tuneup series has shaped up into a great resource for those looking for a place to get started with improving their Personal Finance situation. A post on self-diagnosing your financial health, in particular ...
Monday, March 29, 2010
Top Business & Political News 03/29/10
FDIC getting innovative in sales of failed banks: Bair. The Federal Deposit Insurance Corp is experimenting with different structures for its sales of failed banks, as the economy recovers and commercial real estate is increasingly a driver of collapses, the head of the agency said Monday. FDIC Chairman Sheila Bair said the agency is exploring securitizing failed bank assets and other techniques to drum up interest in troubled banks and to ensure the FDIC gets the maximum return.
IPad to hit Apple, Best Buy stores April 3. Shoppers can buy Apple's iPad computer this weekend at Apple and Best Buy stores, Apple said Monday, one day after noting that some online buyers must wait a bit longer for the highly anticipated device.
IPad to hit Apple, Best Buy stores April 3. Shoppers can buy Apple's iPad computer this weekend at Apple and Best Buy stores, Apple said Monday, one day after noting that some online buyers must wait a bit longer for the highly anticipated device.
SLIDESHOW: President Obama in Afghanistan « Row 2, Seat 4 This past December President Obama announced that he was ordering 30000 additional troops to Afghanistan. Speaking to American troops today he reminded them why he felt the mission was necessary, “We can't forget why we're here. ...
California GOP Ad Battles: Pure Genius or Political Suicide ... In the midterm elections taking place this November, Californians will be deciding on not only a controversial ballot initiative essentially legalizin.
Startups Get Hit By Shrapnel In The Banking Bill Fred Wilson ... There is a big Banking reform bill working its way through the Senate right now.
The Little Book of Value Investing Personal Finance Product DescriptionThere are many ways to make money in today's market, but the one strategy that has truly proven itself over the years is value.
Friday, March 26, 2010
Top Business & Political News 03/26/10
GDP is revised lower. Gross domestic product expanded at a 5.6 percent annual rate, the Commerce Department said in its final report for the fourth quarter, instead of the 5.9 percent pace it estimated in February. It was still the fastest pace since the third quarter of 2003.
Consumer sentiment steady in March. beating expectations. U.S. consumer sentiment ended unchanged in March from February, a survey released Friday showed, while the reading slightly beat expectations. High unempThe final March reading for the surveys' overall index on consumer sentiment was 73.6, the same as February's,loyment and tougher credit standards remain worries hanging over the consumer.
Jobless rate rose in 27 states in February. Four states hit records. Unemployment continued to rise several states in February even breaking records in some states, according to government data released Friday. Joblessness in four states—Florida (12.2 percent), Nevada (13.2 percent), Georgia (10.5 percent) and North Carolina (11.2 percent)—hit record highs. In all, 27 states saw their rates increase in February over the previous month. Seven states and the District of Columbia reported a decrease and 16 states had no change in their unemployment, according to the Labor Department. It was a slight improvement to January’s report which showed 30 states and the District of Columbia reporting an increase in joblessness from the previous month. Michigan still had the highest jobless rate in the nation, though it dipped to 14.1 percent from 14.3 percent in January.
US congress approves final health care changes. The U.S. Congress approved a package of final changes to President Barack Obama's landmark healthcare overhaul on Thursday, and Obama dared Republicans to try to repeal the new law. The House of Representatives put the finishing touches on the overhaul by passing a companion package that would make insurance more affordable, raise taxes on the wealthy and close a gap for prescription drug coverage for seniors. The Senate approved the package earlier in the day on a 56-43 vote. It now goes to Obama to sign.
Consumer sentiment steady in March. beating expectations. U.S. consumer sentiment ended unchanged in March from February, a survey released Friday showed, while the reading slightly beat expectations. High unempThe final March reading for the surveys' overall index on consumer sentiment was 73.6, the same as February's,loyment and tougher credit standards remain worries hanging over the consumer.
Jobless rate rose in 27 states in February. Four states hit records. Unemployment continued to rise several states in February even breaking records in some states, according to government data released Friday. Joblessness in four states—Florida (12.2 percent), Nevada (13.2 percent), Georgia (10.5 percent) and North Carolina (11.2 percent)—hit record highs. In all, 27 states saw their rates increase in February over the previous month. Seven states and the District of Columbia reported a decrease and 16 states had no change in their unemployment, according to the Labor Department. It was a slight improvement to January’s report which showed 30 states and the District of Columbia reporting an increase in joblessness from the previous month. Michigan still had the highest jobless rate in the nation, though it dipped to 14.1 percent from 14.3 percent in January.
US congress approves final health care changes. The U.S. Congress approved a package of final changes to President Barack Obama's landmark healthcare overhaul on Thursday, and Obama dared Republicans to try to repeal the new law. The House of Representatives put the finishing touches on the overhaul by passing a companion package that would make insurance more affordable, raise taxes on the wealthy and close a gap for prescription drug coverage for seniors. The Senate approved the package earlier in the day on a 56-43 vote. It now goes to Obama to sign.
RealClearPolitics - Politics Nation - Health Care Fight Returns To ... Politics Weekly · Polls · Rankings · Republicans · Senate · Senate -- Alaska · Senate -- Arizona · Senate -- Arkansas · Senate -- California · Senate -- Colorado · Senate -- Connecticut · Senate -- Delaware · Senate -- Florida ...
Small Business News: Rising Costs Small Business Trends It looks like costs will be rising for Businesses large and small soon in the wake of healthcare reform and a reconciliation bill being passed with it in the US Senate. We bring you the latest news in this small Business roundup for ...
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