Seeking Alpha

Joseph Wagda

Joseph Wagda
Send Message
View as an RSS Feed
View Joseph Wagda's Comments BY TICKER:
Latest  |  Highest rated
  • Despite the high jobless rate, 49% of U.S. employers are having trouble filling vacancies due to a lack of skilled workers, down from 52% last year. Globally, the figure remains unchanaged at 34%, although 56% of respondents say the unfilled positions will probably have little-to-no impact on customers and investors. (PR)  [View news story]
    Actually, there is a remarkable amount of skilled talent seeking work in this country. The problem is that Corporate America's HR gatekeepers cannot figure out how to place that talent in postions which might require nominal OJT, and instead hold out for that one "perfectly" qualified individual at the expense of leaving a position unfilled for months on-end.
    May 29, 2012. 09:31 AM | 1 Like Like |Link to Comment
  • Brazil's government posts a primary budget surplus of $8.6B in June, the biggest on record. A combination of strong tax receipts and a post-election slowdown in government spending  are behind the result. After taking debt servicing into account the surplus turns into a deficit of $3.6B.  [View news story]
    Friday math check - more like $4+ billion a day. Not even our spendthrift leaders on both sides of the aisle aspire to the grandiose endeavor of running $40 billion daily deficits, yet.
    Jul 29, 2011. 06:24 PM | Likes Like |Link to Comment
  • Brazil's government posts a primary budget surplus of $8.6B in June, the biggest on record. A combination of strong tax receipts and a post-election slowdown in government spending  are behind the result. After taking debt servicing into account the surplus turns into a deficit of $3.6B.  [View news story]
    Even accounting for debt service, Brazil is on a run-rate of a $40 billion annual deficit. At a $1.6 trillion deficit for 2011, the USA is running a 40+ billion deficit every day.

    Who would have thought that a country located so near the equator (in which the primary language is Portuguese, in all irony) could be so fiscally responsible relative to its prodigal peer to the north?
    Jul 29, 2011. 04:37 PM | 1 Like Like |Link to Comment
  • Ten years after the dot-com bust, Wall Street is back in Silicon Valley - but things may be different this time. The love-hate relationship may be swinging to "hate" alongside offering-price mismatches on ZipCar (ZIP), LinkedIn (LNKD) and Pandora (P), and Valley irritation over banks' double-dipping in taking the firms public.  [View news story]
    The Silicon Valley wealth machine cannot exist without the Wall Street hype machine. Forget that at your own risk, Silicon Valley.
    Jun 25, 2011. 02:25 PM | 4 Likes Like |Link to Comment
  • Voters at choose BP as the "Worst Company in America," narrowly edging Bank of America (BAC) for the dubious distinction. Among the other finalists in the 32-team bracket-style elimination tournament: CMCSA, WLP, T, WMT, JPM, Ticketmaster.  [View news story]
    I am surprised that Time Warner Cable is not on the list - they are like Comcast except they do not offer ESPN3 or NFL Network.
    Apr 19, 2011. 09:55 PM | Likes Like |Link to Comment
  • After more than two years of investigation, federal prosecutors have ended the criminal probe of former Countrywide (BAC) chief Angelo Mozilo apparently with no action taken against him. Mozilo paid $67.5M in October to settle civil charges from the SEC.  [View news story]
    Nothing to see here, America, so move along.

    As a consolation prize for the five remaining taxpaying, private-sector, middle-class citizens of the USA, our justice department now will press forward with the prosecutions of Barry Bonds and Lance Armstrong.

    I could almost hear Christina Aguilera singing our national anthem in the background as I read this news article.
    Feb 21, 2011. 09:11 PM | Likes Like |Link to Comment
  • Alibaba (ALBCF.PK) CEO David Wei and COO Elvis Lee are leaving the firm, after an internal probe found over 2,300 sellers on the e-commerce site committed fraud, sometimes with help from Alibaba staff. Wei and Lee weren't involved, but felt the need to take responsibility for the 'systemic break-down.' Shares -3.6% in Hong Kong.  [View news story]
    Elvis has just left the building...
    Feb 21, 2011. 08:56 PM | Likes Like |Link to Comment
  • Nasdaq (-0.2% to 2,698) and Google (GOOG -0.1%) both head into negative ground after starting the day on a high; maybe Google's leadership switcheroo is a bigger deal after all. Other tech names trading down: Apple (AAPL -1.4%), Microsoft (MSFT -0.9%), Intel (INTC -0.3%). The best sector by far today: conglomerates, riding on the back of GE (GE +6.7%).  [View news story]
    I could see AAPL dropping in sympathy with GOOG, given the ongoing concerns with Jobs' health, and the momentum of both names over the last 24 months.

    But MSFT?

    No stock (note I did not say "company") on earth would benefit from a shakeup in the C-Suite more than MSFT.
    Jan 21, 2011. 03:30 PM | Likes Like |Link to Comment
  • As the fight heats up over extending the debt ceiling, 60% of private businesses and their lenders don't want to see an increase out of fear it will hurt the economy, according to a new poll. Small businessmen may feel that the reality of limited borrowing "has eluded the federal government and it is time to start owning up.”  [View news story]
    ...and the other 40% of the businesses polled have sweetheart government contracts, and thus do not want the gravy train derailed.
    Jan 7, 2011. 04:38 PM | Likes Like |Link to Comment
  • U.S. banks and other debit card issuers would be allowed to charge retailers only up to $0.12 per transaction under a Federal Reserve staff proposal; fees currently average about 1%. The Fed is crafting the caps on “swipe” fees to comply with financial curbs Congress passed in July. V -11.5%, MC -9.7%.  [View news story]
    For many smaller retailers, swipe fees have been closer to 2% per transaction than 1%. For a retailer (not Wal Mart, mind you, but a small specialty store) who makes 30%-35% gross margins from a sale at MSRP, this amounts to as much as 6.7% of the gross income associated with a sale going directly to the credit card companies' pockets. The credit card companies have reaped absurd revenues off the backs of small businesses while their value proposition to such businesses has depreciated over time.

    Now (hopefully) consumers can bear the burden of paying for the convenience of using their cards as opposed to their vendors paying. Granted, there increasingly will be issues with counterfeit bills and bad checks, but businesses should know their customers, much like banks should know their counterparties.

    Of course, once Mastercard's and Visa's army of lobbyists get through with the Fed, I'm sure that "real" swipe fees will end up increasing, instead of decreasing.
    Dec 16, 2010. 04:46 PM | 2 Likes Like |Link to Comment
  • President Obama talked taxes, jobs, education, the deficit and U.S. competitiveness in his four-hour meeting with 20 CEOs, striving to come across as willing to listen and work with business. Boeing's (BA) Jim McNerney gets in the mood, saying he plans to add 4,000-5,000 jobs next year. Only one Wall Street figure attended, an odd choice: Richard Wolf of UBS.  [View news story]
    BA hires 5,000 engineers to de-bug the 787 "Nightmareliner". What the heck - it's a start.
    Dec 15, 2010. 05:23 PM | Likes Like |Link to Comment
  • Oct. nonfarm payrolls: +151K vs. +60K expected, -95K in Sept. Unemployment 9.6% vs. 9.6% expected, 9.6% prior.  [View news story]
    CES Birth-Death for October +61k
    Nov 5, 2010. 09:22 AM | Likes Like |Link to Comment
  • Sept. New Home Sales: +6.6% to 307K vs. 299K expected, 288K prior. Months' supply 8.0 vs. 8.6 prior. Median price was $223,800.  [View news story]
    Given foreclosuregate, in the short term, expect new home sales to outperform existing home sales because new homes have clean title.
    Oct 27, 2010. 10:37 AM | Likes Like |Link to Comment
  • Seeking Alpha's Market Currents team is expanding. If you're a market enthusiast, a superb writer, have lots of energy and a great work ethic, one of these work-from-home jobs (I, II, III) could be an amazing opportunity.  [View news story]
    I'd sign up for the "dumb-ass writer" position.
    Sep 16, 2010. 07:47 PM | 6 Likes Like |Link to Comment
  • Abby Joseph Cohen tells CNBC that economic data is better than a month ago and double-dip fears are receding. Interest rates are likely to stay low for the foreseeable future as the economy struggles to recover, she says, suggesting investors look toward corporate bonds with "incremental yields" over Treasurys.  [View news story]
    I'd rather get my fill of schlock market strategy from Ines Sainz.

    It's time to call it day, Abby.
    Sep 16, 2010. 03:03 PM | 6 Likes Like |Link to Comment