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  • Prepaid debit-card provider Green Dot (GDOT) priced above its $32-35 range in a $164M IPO yesterday and is up 20.2% in first-day trading, a sure windfall for owners including Wal-Mart (WMT). Green Dot has doubled earnings every year since 2006, but even at the midpoint of its IPO range it was at a P/E of 27, higher than competitors like Visa (V).   [View news story]
    Actually, when my company switched to mandatory direct deposit, a co-worker had a lot of explaining to do to his wife - why he received this raise all of a sudden - he liked to stash away cash for himself out of the live paychecks.
    Jul 22, 2010. 01:15 PM | Likes Like |Link to Comment
  • Prepaid debit-card provider Green Dot (GDOT) priced above its $32-35 range in a $164M IPO yesterday and is up 20.2% in first-day trading, a sure windfall for owners including Wal-Mart (WMT). Green Dot has doubled earnings every year since 2006, but even at the midpoint of its IPO range it was at a P/E of 27, higher than competitors like Visa (V).   [View news story]
    I'm just worried about my wife, not the feds.
    Jul 22, 2010. 01:13 PM | Likes Like |Link to Comment
  • When Does the Unusual Become the Usual?  [View article]
    Great comments. Most likely, we can not foresee the next driving force. Funny how new fangled products (like the car) are pooh poohed and than end up being the driving force behind an economy. I'm glad you see that we are in a cycle and not a whirlpool. Hear too much of that around here.
    Jul 22, 2010. 01:09 PM | Likes Like |Link to Comment
  • Prepaid debit-card provider Green Dot (GDOT) priced above its $32-35 range in a $164M IPO yesterday and is up 20.2% in first-day trading, a sure windfall for owners including Wal-Mart (WMT). Green Dot has doubled earnings every year since 2006, but even at the midpoint of its IPO range it was at a P/E of 27, higher than competitors like Visa (V).   [View news story]
    Can they be used for hookers? (It's the same thing, isn't it?)
    Jul 22, 2010. 11:44 AM | 3 Likes Like |Link to Comment
  • Prepaid debit-card provider Green Dot (GDOT) priced above its $32-35 range in a $164M IPO yesterday and is up 20.2% in first-day trading, a sure windfall for owners including Wal-Mart (WMT). Green Dot has doubled earnings every year since 2006, but even at the midpoint of its IPO range it was at a P/E of 27, higher than competitors like Visa (V).   [View news story]
    Maybe parents are finally wising up and giving their kids the prepaids instead of the open-ended. But then again, my kids were left to fend for themselves, like myself. No cards.
    Jul 22, 2010. 11:23 AM | 2 Likes Like |Link to Comment
  • Even if third-quarter growth lags the first half, the double-dip risk is "slight," NY Fed's William Dudley says in a regional update. Nationally, manufacturing has been a key growth source in the recovery, behind an unusually pronounced inventory cycle.   [View news story]
    Nobody knows what's going to happen, good or bad. Enjoying the weather here today, cincinnatijake? Just wait til tomorrow.
    Jul 22, 2010. 11:10 AM | Likes Like |Link to Comment
  • New stock-picking metric: shares of companies whose CEOs lunch with Obama. Since becoming president, Obama has held seven lunches with small groups of chairmen and CEOs - in four of the lunches, the guests' companies outperformed the S&P. It's not a coincidence, some analysts say.   [View news story]
    Oh boy. People actually believe that Company CEOs who have lunch with Obama are promised an insidous brain-wave machine aimed at traders and investors will impel their fingers to hit the buy button next to their stock symbols. Oh boy. Things are worse than I thought.
    Jul 22, 2010. 11:08 AM | 2 Likes Like |Link to Comment
  • When Does the Unusual Become the Usual?  [View article]
    China is trying a hybrid - capitalism and tight government control. They have been successful only because there was just one way to go - up - and the rest of the world was going up. It will be interesting to see what happens during these dicey time. My whole premise is that there is no real answer, I don't care what ideology you are beholden to. You can't "teak" a complex economy and expect it to go in the direction you want.
    Jul 22, 2010. 10:49 AM | 3 Likes Like |Link to Comment
  • The wealth gap is an essential driver of entrepreneurial creativity, and there’s no way to reduce it unless we want to strangle progress, John Tamny writes. "Wealth at the far end of the income curve [has] distracted us from realizing how much better we live thanks to wealth creation, and how much better off we are in relative terms owing to individuals pursuing innovative ideas."   [View news story]
    Agreed. My wife works part time and pays about four times the amount in SS and Medicare than fed taxes. If the powers in the 40's had pegged SS to longevity we would be in better shape, fiscally and healthwise.
    Jul 22, 2010. 10:12 AM | 1 Like Like |Link to Comment
  • Initial Jobless Claims: +37K to 464K vs. 450K consensus. Continuing claims -223K to 4,487,000.   [View news story]
    Yeah, I'm torn about that. For many out of work individuals, I agree with your statements. On the other hand, every dollar of unemployment benefits produces $1.60 in the general economy. The money is quickly recirculated.
    If workers were forced to accept lower wages, than we would start into a deflationary mode. I'm not smart enough to tell you where that may eventually lead us. My feeling for years has been that in many parts of the country, housing and rental prices have been too high, especially for community support, policeman, fireman, teachers.
    Jul 22, 2010. 09:04 AM | 1 Like Like |Link to Comment
  • Initial Jobless Claims: +37K to 464K vs. 450K consensus. Continuing claims -223K to 4,487,000.   [View news story]
    Yes, and coming from someone who is naively optimistic about where we are headed. Still not blind to irony.
    Jul 22, 2010. 08:49 AM | 3 Likes Like |Link to Comment
  • When Does the Unusual Become the Usual?  [View article]
    Listening to NPR right now, interesting how Bernake has been referring for months about how uncertain economy is. I don't think anyone knows which way the economy will head - it is a much bigger and complex animal than anyone can get a grasp of. Even totalitarian regimes can't totally control their economies.
    Jul 22, 2010. 08:47 AM | 3 Likes Like |Link to Comment
  • Initial Jobless Claims: +37K to 464K vs. 450K consensus. Continuing claims -223K to 4,487,000.   [View news story]
    Look at the futures - people don't have to work, they just have to own stocks.
    Jul 22, 2010. 08:39 AM | 5 Likes Like |Link to Comment
  • Exxon Mobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A) and Conoco Phillips (COP) are expected to announce that they will form a joint venture to design, build and operate a rapid-response system to capture and contain catastrophic deepwater spills, in a bid to regain public confidence in the oil industry.   [View news story]
    Totally agree. Should have been done years ago. Wouldn't it be nice if we entered an age of responsible industry? No need for government oversight.
    Jul 21, 2010. 08:52 PM | Likes Like |Link to Comment
  • Most of the developed world is pretty much in line when it comes to income distribution, but not the U.S., Brett Arends asserts, where the results are more in line with Zimbabwe, Argentina and El Salvador. The average Fortune 500 CEO pockets $10.5M a year, more than 300 times the average worker's pay.   [View news story]
    I totally agree. If you want me to buy a share (stake) of your company, then give me a voice, however small. This is a bit of a socialist/capitilist melding. The little guy has an actual stake in industry, but only if he wants to.
    Jul 21, 2010. 02:10 PM | Likes Like |Link to Comment
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