Dallas Fed Chief–FOMC Forecasts “Pure Guesses”
It is getting rough in the corners at the Fed. More of the central bank’s members are acknowleging that they believe recent forecasts which extend well into 2014 cannot possibly be realistic. No one…
All Work
Douglas A. McIntyre
More Fun Facts About Facebook…And, Why It Isn’t No.1 In China
There has been enough nonsense published about Facebook in the last few days to go to the Moon and back again a hundreds times. Here’s some more, from online research firm HitWise 1. Facebook.com…
Unemployment Up In January–Gallup
Gallup released new data on January unemployment. The data confirms a weak jobs market in January. Challenger Gray reported that layoffs rose in January (employers announced 53,486 planned job cuts last month, up 28 percent…
National Average For 2011 Home Price Drop Is 4.7%–CoreLogic
Real estate research firm Corelogic reports that real estate prices nationwide dropped an average of 4.7% in 2011. The data is based on the firm’s Home Price Index (HPI) Corelogic reports This year-end report shows that…
Abercrombie & Fitch Shares Down 13% On Bad Numbers
Wall St. was unhappy with Abercrombie and Fitch (NYSE: ANF) sales data, and the stock sold down 13% The company posted performance for the quarter ended January 28, 2012. Net sales increased 16% to $1.329…
Gap Sales Hammered Again
In the midst of a restucturing that will cause it to close 20% of its US flagship stores, and which has cost the head of its Old Navy division his job, Gap (NYSE: GPS)…
A Better Airline Industry In 2011–A Worse One In 2012?
The International Air Transport Association, the industry’s major association and source of much research about the sector says that 2011 was a particularly good one for the industry, especially as the year closed. This…
Despite Earnings, Amazon’s Prospects Are Huge–ChangeWave
New research from ChangeWave shows that Amazon.com (NASDAQ: AMZN) may have better prospect to gain market share and increase sales than at any other time in its history. Ignore earning ChangeWave says, and focus on the…
The IMF vs. Germany
The deal to save Greece from default has come down to a battle of wills between Germany and the International Monetary Fund. It was always likely this would happen, but the forces for the…
What’s Important in the Financial World (2/2/2012) AstraZeneca Layoffs, Sony Losses
Today is Facebook Day. It will be remembered that way as long as there are IPOs. The Facebook public offering has every aspect of what makes IPOs the focus of so much interest. No large…
AMR: Saving Corporate American One Bankruptcy at a Time
AMRAMR, parent of American Air, wants to cut 13,000 jobs, lower pay for other workers, void airplane leases and cut creditor obligations. Delta (NYSE: DAL) and US Air (NYSE: LCC) want to buy AMR.…
Spain Unemployment Rises Again, Threatening Recession
For some reason, there is a school of thought that Spain’s financial problems will go away if it adopts austerity programs to bring down its deficit. The theory neglects that fact that Spain is…
China May Invest In EU Bail Out Funds
There have been rumors for months that China would use part of its huge currency reserves to buy bonds of the weakest EU nations. This would help prop up their economies which are major…
Congress Closer To Government Worker Pay Freeze
The House has passed a provision for the pay of federal civilian workers to be frozen at current levels. This would help reduce the national deficit, but make it less attractive to go into…
Germany And IMF Battle Over Greece
Several press reports claim that Germany and the IMF are at odds over a final Greek rescue package. This delay will threaten the oft-threatening default of Greece. Apparently, Germany still wants to be some…
Samsung Trumps Apple, For Now
Samsung claims a Germany court has blocked Apple’s request to stop the sales of the South Korean company’s tablets and smartphones in the European nation. The action is part of a wrestling match between…
Glencore and Xstrata May Merge
Glencore and Xstrata are in late stage talks to set a merger of equals which would be valued at $80 billion. According to the FT Glencore and Xstrata are in advanced discussions over an…
Corporate Borrowing Costs Hit Lows
Among all of the troubles in the financial world, one groups still has access to almost unlimited capital. Banks want to lend money, or raise money, for corporate giants–at least the ones which are…
AstraZeneca Fires 7000
AstraZeneca, the UK drug company, became the latest victim of patent expiration of drugs made by big pharma. It will fire 7,000 workers. Its blockbuster drugs are no longer protected from generic, and its R&D…
Sony’s $2.8 Billion Loss
Sony announced that is will have a full year loss of $2.8 billion. The annual red ink has become common for the Japanese company. It sets the table for new CEO Kazuo Hirai, who…