CEO compensation at 20 banks that received emergency aid was 37% higher than the average of CEOs at S&P 500 companies. In short, pay packages "remain at levels completely disconnected from any real underlying value that executives may offer." [View news story]
Mortgage applications fell 2.2% from last week, MBA says. The average interest rate on 30-year fixed-rate mortgages fell to 5.15% from 5.24%. [View news story]
Interesting....applica... down and interest rates down..something is wrong here
The Mortgage Bankers Association calls on lawmakers to break up Fannie Mae (FNM -5%) and Freddie Mac (FRE -9%) into several smaller, privately held firms that would issue mortgage securities with an explicit government guarantee. [View news story]
A private company with explicit government backing...now there is a win win win win win formula....lol.....no stress at the top there.....
August ADP Employment Change (.pdf): -298,000 vs. consensus of -250K, still the smallest decline since Sept. 2008. July losses were -360K (revised). Employment "is still likely to decline for at least several more months, albeit at a diminishing rate." [View news story]
why would you when the Obama has said he is going to tax it all....more companies are trying to figure out where to move to right now I think....what State is better....or what country is better....
GM August U.S. sales:-20.2% to 246,479 vehicles. Pontiac +23.3% to 29,921 units; Chevrolet -9.2% to 168.130. Cadillac -55% to 6,931. Buick -51.7% to 8,612. (MW) [View news story]
well the politicians and the unions got there government run auto company....doesn´t look good for them....soon they will pass laws you HAVE to buy them...
Spurred by record lending, China's manufacturing grew at the fastest rate in 16 months in August, adding to evidence that the country will meet its 8% growth target this year. (ETFs: PGJ, FXI) [View news story]
I wonder if they are going to try to outspend us so when our dollar drops..they drop with us thereby not losing any money.....Hmmmmm
Weak growth in property taxes and sharp declines in sales taxes, income taxes and state aid contributed to a 0.4% decline in city revenues even as expenses rose 2.5%. Nor is relief in sight, as tax revenue is expected to lag any economic recovery. [View news story]
Now if you were a businessman you would cut expenses to save yourself....but if you are a Politician...oh well..you know how that is going to go....
"Culture change is not simple to do," says GM's Fritz Henderson, explaining why he appointed 50+ 'change agents.' The group will be responsible for emphasizing Henderson's 'four pillars:' speed, product and customer focus, accountability and risk taking. [View news story]
seems like 5 pillars to me..but whos counting..Joe Biden
PetroChina (PTR) continues its overseas expansion, agreeing to pay C$1.9B ($1.7B) to closely-held Athabasca Oil Sands Corp. for a stake in a Canadian oil sands project. This is PetroChina's largest North American acquisition to date. (see also) [View news story]
I bet this is one way they are getting rid of our debt....
TARP Repayments: Media Continues to Trumpet Unjustified Positive Economic Spin [View article]
"When the government takes a stand and stops the bloated spending, "
This will never happen with the Politicians we have in Washington, in the States, and local governments...they all know we can PRINT money....Prepare for this NOT happening
Where Exactly Is the Recovery Coming From? [View article]
I know this house of cards is going to crash..and crash is the correct word...it will happen very fast ..not a slow correction....the hard part is knowing the WHEN....timing that is what will make you rich.....or maybe even keep you alive...
August Chicago PMI: 50 vs. consensus of 48 and up from 43.4 in July; it's the highest since Sept. 2008. New orders were up 4.5 to 52.5, while prices paid jumped 15 points to 50. [View news story]
some of this is the Cash for Clunkers..but the price increase is interesting..inflation of 15%...hmmmmmm
A leading Chinese economist calls on the U.S. to provide "details of how its countermeasures against the financial crisis will not lead to serious capital losses" to China's U.S. holdings. China has already lost over $800B on U.S. Treasurys. [View news story]
Tim has to tell congress again to raise the limits on our debt so we can make more debt.....so that the world will feel safe that we are going to do what we said we are going to do..
It's still premature to talk about pulling back on the Fed's Treasury purchases, NY Fed chief William Dudley says, "because the economy still isn't growing very fast, and we do have a very high unemployment rate." But, he told CNBC in an interview this morning, when the time comes, the Fed remains committed to 'taking away the punch bowl.' [View news story]
U.S. carmakers plan a 63% increase in small-car production by 2015, which will far outpace demand unless sales surge to nearly twice record levels by then - which isn't likely if gas stays cheap. [View news story]
Obama will force you to buy them and yes gas is going up up and up...Obama wants you to walk...not drive...no new drilling..no new refineries...no expansion on Hydro, or nuclear...its going way up boys...
CEO compensation at 20 banks that received emergency aid was 37% higher than the average of CEOs at S&P 500 companies. In short, pay packages "remain at levels completely disconnected from any real underlying value that executives may offer." [View news story]
Mortgage applications fell 2.2% from last week, MBA says. The average interest rate on 30-year fixed-rate mortgages fell to 5.15% from 5.24%. [View news story]
The Mortgage Bankers Association calls on lawmakers to break up Fannie Mae (FNM -5%) and Freddie Mac (FRE -9%) into several smaller, privately held firms that would issue mortgage securities with an explicit government guarantee. [View news story]
August ADP Employment Change (.pdf): -298,000 vs. consensus of -250K, still the smallest decline since Sept. 2008. July losses were -360K (revised). Employment "is still likely to decline for at least several more months, albeit at a diminishing rate." [View news story]
GM August U.S. sales: -20.2% to 246,479 vehicles. Pontiac +23.3% to 29,921 units; Chevrolet -9.2% to 168.130. Cadillac -55% to 6,931. Buick -51.7% to 8,612. (MW) [View news story]
Spurred by record lending, China's manufacturing grew at the fastest rate in 16 months in August, adding to evidence that the country will meet its 8% growth target this year. (ETFs: PGJ, FXI) [View news story]
Weak growth in property taxes and sharp declines in sales taxes, income taxes and state aid contributed to a 0.4% decline in city revenues even as expenses rose 2.5%. Nor is relief in sight, as tax revenue is expected to lag any economic recovery. [View news story]
"Culture change is not simple to do," says GM's Fritz Henderson, explaining why he appointed 50+ 'change agents.' The group will be responsible for emphasizing Henderson's 'four pillars:' speed, product and customer focus, accountability and risk taking. [View news story]
PetroChina (PTR) continues its overseas expansion, agreeing to pay C$1.9B ($1.7B) to closely-held Athabasca Oil Sands Corp. for a stake in a Canadian oil sands project. This is PetroChina's largest North American acquisition to date. (see also) [View news story]
TARP Repayments: Media Continues to Trumpet Unjustified Positive Economic Spin [View article]
This will never happen with the Politicians we have in Washington, in the States, and local governments...they all know we can PRINT money....Prepare for this NOT happening
Where Exactly Is the Recovery Coming From? [View article]
August Chicago PMI: 50 vs. consensus of 48 and up from 43.4 in July; it's the highest since Sept. 2008. New orders were up 4.5 to 52.5, while prices paid jumped 15 points to 50. [View news story]
A leading Chinese economist calls on the U.S. to provide "details of how its countermeasures against the financial crisis will not lead to serious capital losses" to China's U.S. holdings. China has already lost over $800B on U.S. Treasurys. [View news story]
It's still premature to talk about pulling back on the Fed's Treasury purchases, NY Fed chief William Dudley says, "because the economy still isn't growing very fast, and we do have a very high unemployment rate." But, he told CNBC in an interview this morning, when the time comes, the Fed remains committed to 'taking away the punch bowl.' [View news story]
U.S. carmakers plan a 63% increase in small-car production by 2015, which will far outpace demand unless sales surge to nearly twice record levels by then - which isn't likely if gas stays cheap. [View news story]