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7footMoose

7footMoose
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  • Mario Monti may be out of a job. His government teeters as former PM Berlusconi threatens to pull his party's support. "We can't go on like this," says Berlusconi, "I can't allow my country to (continue) in a recessionary spiral without end." Shares in Milan fall 1%. The 10-year government bond yield rises 11 bps to 4.57%. [View news story]
    We look forward to welcoming back the Bunga Bunga Party. After all it worked for Nero.
    Dec 6 08:06 AM | Likes Like |Link to Comment
  • Why the cliff matters: Eliminating mandated spending cuts and extending 2012's tax regime into 2013 could add 2.9% to GDP, according to Bloomberg's Joe Brusuelas. Of course, what the status quo means for the finances of the government down the road is a different story. [View news story]
    The Mayans are gathering for the end of the world. If they are right then the fiscal cliff will have moved forward to December 21st and the tax increases and spending cuts of 2013 will never occur. That is the newest option being bandied about in Washington. The vote is expected to occur on December 22nd.
    Dec 6 07:46 AM | 1 Like Like |Link to Comment
  • Some Microsoft (MSFT) news: 1) Microsoft has begun selling Office 2013, along with new versions of Exchange, SharePoint, Lync, Project, and Visio, to businesses. Office 2013 brings a touch-friendly UI, SkyDrive integration, and a stronger emphasis on subscriptions. Many of the complementary products are seeing price hikes. 2) A Microsoft insider claims Redmond will launch 3 new Surface models next year: an 8.6" RT model with a Qualcomm chip, an 11.6" Pro model with an AMD Temash chip, and a 14.6" "Surface Book" with an Intel Haswell chip. Surface RT sales have disappointed thus far. [View news story]
    Desperate times call for desperate measures.
    Dec 3 08:17 PM | Likes Like |Link to Comment
  • Wal-Mart (WMT) reportedly plans to deny health insurance to new employees who work fewer than 30 hours/week. The policy change will use an Obamacare loophole to shift the costs of health insurance to the government. [View news story]
    Before pre-school I would assume. You learn that from your parents very early in life.
    Dec 3 06:34 PM | 1 Like Like |Link to Comment
  • Wal-Mart (WMT) reportedly plans to deny health insurance to new employees who work fewer than 30 hours/week. The policy change will use an Obamacare loophole to shift the costs of health insurance to the government. [View news story]
    Could it possibly be that Americans need to take personal responsibility for their actions and take better care of themselves?
    Dec 2 04:31 PM | 4 Likes Like |Link to Comment
  • Wal-Mart (WMT) reportedly plans to deny health insurance to new employees who work fewer than 30 hours/week. The policy change will use an Obamacare loophole to shift the costs of health insurance to the government. [View news story]
    Many Many, too many to count.
    Dec 1 07:17 PM | 3 Likes Like |Link to Comment
  • A strike at Californian ports is threatening to delay the delivery of some holiday season cargo after longshoremen and clerical workers began action on Tuesday due to an impasse in contract talks. As of yesterday, seven of eight terminals at the Port of Los Angeles were closed, as were three of six in Long Beach. Ships have started to divert to other ports, including Mexico [View news story]
    Good move. This will help the economy and the state.
    Nov 30 05:27 AM | 1 Like Like |Link to Comment
  • More Fed Beige Book: Does it signal an official downgrade? Bill McBride notes "measured" economic growth compares to "modest" in the last report and "moderate" a few reports back. The FOMC's next meeting - and last before the end of Operation Twist - is set for Dec. 11-12. There's little in the dour report to prevent a replacement program from being announced. Stocks remain higher, the S&P 500 +0.3%. The 10-year Treasury yield -3 bps to 1.62%. [View news story]
    "Measured" is a great term. Measured how and by whom and with what caveats. It is a moving target and we are expected to read it in the dark.
    Nov 29 05:46 AM | Likes Like |Link to Comment
  • Oct New Home Sales: 368K vs. 387K expected, 369K prior (revised). [View news story]
    Weak job market. Tremendous Tax Code uncertainty. Slow to stalled economy. Leads to weak new and used home sales.
    Nov 29 05:44 AM | Likes Like |Link to Comment
  • Market recap: Leave it to the prospect for more Fed stimulus to give the stock market a final-hour boost, though stocks already were higher after positive fiscal cliff comments from Pres. Obama and House Speaker Boehner. Meanwhile, the Fed's Beige Book says the U.S. economy is moving at a measured pace. Gold dropped sharply; crude oil fell again. NYSE gainers led losers three to two. [View news story]
    Beware the Myth of the Compromise.
    Nov 29 05:42 AM | Likes Like |Link to Comment
  • A group of AMR (AAMRQ.PK) bondholders have told the bankrupt airline's pilots union that it will only support the carrier's exit from bankruptcy protection as a standalone company if a new board is appointed comprising mostly of directors with no prior affiliation to the company. The group includes JPMorgan (JPM) and holds up to $885M in AMR debt. [View news story]
    American Airlines is about to go the way of the Twinkie.
    Nov 29 05:40 AM | Likes Like |Link to Comment
  • The president and Congress have heard the public's anger over the fiscal cliff impasse and will likely find a resolution, says Dennis Gartman. We're starting to see some Senators begin to cave on their "no new taxes" pledge; they understand how serious the circumstances are. The markets are already beginning to react positively to what's coming out of Washington, so any further progress could mean a strong rally for U.S. equities. (Video[View news story]
    When half of the people get the idea that they do not have to work because the other half is going to take care of them; and when the other half gets the idea that it does no good to work , because somebody else is going to get what they work for, that is the beginning of the end of any nation.
    Nov 28 01:17 PM | 2 Likes Like |Link to Comment
  • The president and Congress have heard the public's anger over the fiscal cliff impasse and will likely find a resolution, says Dennis Gartman. We're starting to see some Senators begin to cave on their "no new taxes" pledge; they understand how serious the circumstances are. The markets are already beginning to react positively to what's coming out of Washington, so any further progress could mean a strong rally for U.S. equities. (Video[View news story]
    "Alert to all Lemmings, cliff ahead. Oh crap, I did not see that coming."
    Nov 27 08:17 PM | Likes Like |Link to Comment
  • Banco Santander (SAN) confirms a report that it's considering an IPO of its Santander Consumer USA car-financing unit, with the listing part of an agreement signed with the business' other shareholders last year. Santander says it's too early to talk about timing, while the valuation will depend on the share price at the time of the IPO. A report says Santander is looking for a market cap of $6B. [View news story]
    Basel III says in big letters, "raise capital." Even bankers can read that handwriting on the wall.
    Nov 22 06:20 AM | Likes Like |Link to Comment
  • The all-too-brief, conciliatory effort to find some middle-ground over the "fiscal cliff" issue may be disappearing in Washington already. Stalemate appears to be re-emerging over a big obstacle. Team Obama wants a gargantuan $1.6T tax hike and to eliminate a number of tax deductions over the next ten years in an effort to boost revenue and finance a bigger government. Spending cuts don't even appear on the radar at this juncture, which could well be a deal-breaker. [View news story]
    My GranPa likes hip hop
    Nov 22 06:18 AM | Likes Like |Link to Comment
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