The Limits Of Science, Oil Leak At 95,000 Barrels A Day?
There is a wild divergence in the estimates of oil leaking from the Deepwater Horizon rig disaster. The NOAA and BP plc (NYSE: BP) estimates continue to be at 5,000 barrels a day. BP…
All Work
Douglas A. McIntyre
FDIC Signal Bank Industry Improvement, Hiding Scars
The FDIC Quarterly Banking Profit reports that industry net income rose to a two-year high of $18 billion. While that seems like a large number, it is spread across almost 8,000 banks. The figure…
Media Digest 5/21/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Shares in Europe plunged Reuters: Oil hit the shores of Louisiana Reuters: The EU faces scrutiny over whether its austerity measure will be adequate. Reuters: The euro moved up in a short covering…
Greenland: Offshore Drilling’s Next Frontier
Since 2002, Greenland has issued 13 licenses to explore its onshore and offshore areas for oil and gas. Among the licensees are Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), Encana Corp. (NYSE:…
Has GDP Growth Disappeared? Leading Economic Indicator Stalls
High unemployment, lack of credit availability for small businesses and consumers, and slow wage growth may have caught up to an American economy which has been on the mend since late 2009. The Conference…
Apple iPad Satisfaction And Future Demand Soar
From 24/7 Wall St. partner Investor Place Back in our February Apple iPad survey report we found “The pre-launch demand for the new iPad is greater than the pre-launch demand for the original iPhone.”…
The Spill Rolls Toward Florida, But Enviromental Risks Low
Florida will probably not be spared. Currents will take crude from the Deepwater Horizon spill within the next few days. According to the NOAA The NOAA’s latest observations indicate that a small part of…
Today’s Best Market Rumors 5.20.2010
Updated throughout the day. Update after 9AM: TTI Team Telecom International Ltd. (NASDAQ: TTIL) is trading up after confirming buyout talks per media reports. No deal has been reached yet, and shares are up…
The Deflation Story Is That There’s No Deflation
By John Tamny of Forbes Market commentators are pointing to the dollar’s surge against other paper currencies, quiescent producer prices, looming government austerity in Europe, and “asset deflation” as signals of the monetary phenomenon…
The Twitter-24/7 Wall St. Stock Market Report 5.20 The Wisdom Of Crowds?
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Customer Service Still A Problem For Sprint
Sprint-Nextel (NYSE: S) is in the midst of rolling out its next-generation 4G WiMax service which it hopes will give it advantages over larger rivals AT&T Wireless and Verizon Wireless. Sprint’s problem in gaining…
State Pensions Face $1 Trillion Shortfall
The problem with state and private sector pensions has grown since the beginning of the recession for the same reason that Social Security is troubled: the population is aging and the slow economy and…
IMF Points To Japan As Next Trouble Spot
The IMF had indicated that Japan may be the next trouble spot in the global economy, adding it to a list of several counties in Europe. The agency visited the country with the world’s…
Media Digest 5/20/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The Senate was not able to reach consensus on the financial reform bill. Reuters: Heavy oil from the BP plc (NYSE: BP) rig came ashore in Louisiana. Reuters: Trading systems broke down at…
Big Pharma Makes More Money On Kids, Use Of Medications Among The Young Rises
The pharmaceutical industry has found a growing source of sales–the prescription of medicines, primarily used by adults in the past, to children. A portion of the sharp increase in drugs used by children last…
BP plc Liability Rises As Oil Moves East
The BP plc (NYSE: BP) Deepwater Horizon spill is quickly moving east. The NOAA now reports what a number of scientists have already said–the oil slick will move into powerful currents that flow toward…
Rare Earth Metals Getting Attention in China and US (CVX, CEO, SI, GE)
On April 19th, Molycorp, Inc., a privately held company, filed with the US SEC for an IPO. The company did not say how many shares would be offered nor did it indicate an IPO…
National Employee Morale Day At H&R Block
Troubled tax return company H&R Block (NYSE: HRB) said today that it would lay-off 400 people. The firm will also close 400 “under-performing” offices. H&R said the moves would save $140 million to $150…
Crude Oil Price Slide Should Help Refiners
Crude oil prices are off more than 20% from their high of $87.15 on May 3rd. The major contributor to that slide are serious concerns over sovereign debt primarily in the European Union. The…
German Shorting Ban Fuels Chaos, Worries of Incompetence
By Heather Horn, The Atlantic Wire On Tuesday, German authorities announced a ban, starting at midnight, on the naked short-selling of European government debt. The aim, according to The Telegraph, was to “counter speculators…