Do Strong “Black Friday” Sales Mean Success?
Several retail research firms believe that “Black Friday” store traffic could trump that of the last three years. But, that does not mean the shopping season will be a success. The “Black Friday” weekend…
All Work
Douglas A. McIntyre
Newest And Oldest States Still Stuggle With Unemployment
The old industrial states continue to have high unemployment. So do the states that became part of the US relatively recently. Most of this second group were regions of opportunity. The populations which flooded to…
American’s Concern About Finances Moves Back Toward Recession Lows
Consumer confidence and sentiment have reset back to recession levels. That raises the problem of low spending for the holidays. It also may cause businesses to cut costs again in anticipation that households will…
Yahoo! (YHOO) Signs Confidentiality Agreement With Microsoft (MSFT)
According to several media sources, Microsoft (NASDAQ: MSFT) has signed a confidentiality agreement with Yahoo! (NASDAQ: YHOO) that would allow the software giant access to Yahoo! financial statements and senior management. Microsoft has been viewed…
AT&T (T) To Take $4 Billion Charge On T-Mobile Deal Concerns
AT&T (NYSE:T) has admitted that government resistance to its deal to buy T-Mobile may wreck the chances that the transaction will happen. The huge American telecom company said, “As a result of the FCC’s…
Fitch Downgrades Portugal
Rating firm Fitch has downgraded Portugal’s sovereign paper to BB- from BBB-. This means the rating has moved into the “junk bond” category. According to MarketWatch, Fitch said another cut was possible. “The country’s large…
Consumer Sentiment Jumps Higher
According to MarketWatch, “A gauge of consumer sentiment hit 64.1 in the final reading for November – the highest level since June — compared with 60.9 in October. A preliminary reading for November pegged…
Groupon (GRPN) Drops Another 9% To New Low
Groupon (NASDAQ: GRPN), struggling to prove that its online coupon modest can be profitable, dropped another 9% today. It reached a new 52-week low of $18.02. The number is also below its IPO price…
What’s Important in the Financial World (11/23/2011) Bank Stress Tests, Walmart’s 10,000th Store
The purchasing managers indices of China, German and France all signaled slow growth or contraction in November. It is a sign that demand for exports and consumer expenditures are in free fall. China and Germany have…
Black Friday Shoppers to Surge, But Will They Buy?
A new study by the National Federation of Retailers makes a prediction that runs counter to almost every other forecast of holiday shopping activity. The data shows that the number of people who say they “definitely”…
The Fed’s Stress Tests: Too Little, Too Late
The Federal Reserve has set the rules for its Comprehensive Capital Analysis and Review for 2012. The stress test will be based on extremely harsh economic conditions. For America’s largest financial firms, the test…
China Passes U.S. as Largest Smartphone Market
Last quarter, China passed the U.S. as the world’s largest smartphone market. That means the fortunes of companies like Apple (NASDAQ: AAPL) will be decided as much in China as in the U.S. Some smartphone firms…
IMF Rescue Fund and Bailout of Eurozone
The IMF says it has created a new facility for “responsible” countries to use for short-term capital needs. That probably means Greece will not qualify, but maybe Italy will. Or, maybe not. The IMF…
Media Digest (11/23/2011) Reuters, WSJ, FT, Bloomberg
China’s factory activity reaches a 32-month low. (Reuters) Merck (NYSE: MRK) pays $950 million to settle Vioxx charges brought by the government. (Reuters) FCC head wants more examination of the AT&T (NYSE: T) deal…
Walmart (WMT) Opens 10,000th Store
According to MarketWatch, Walmart (NYSE: WMT) has opened its 10,000th store. “Wal-Mart Stores Inc.’s opened its 10,000th store worldwide Tuesday in central Mexico, as it speeds up its Mexican 2011 store expansion plan toward…
China PMI 48, Confirms Global Slowdown
China’s PMI was 48, which shows a contraction in the manufacturing sector. The number was 51 last month, a sign of a modest expansion. According to MarketWatch, “It’s not a great number,” said Michael…
Asia Markets Hit, Europe Opens Down
Markets fell across Asia as news about a weakening economy in China undermined confidence in the global recovery further The Nikkei fell .4% to 8,315. The Hang Seng was off 2.1% to 17,864. At…
Alert: IMF Enhances Liquidity and Emergency Lending Windows
The Precautionary and Liquidity Line: Qualification criteria remain the same as under the PCL. A member needs to be assessed as having sound economic fundamentals and institutional policy frameworks, having a track record of…
Breaking: Comprehensive Capital Analysis and Review (CCAR), the Federal Reserve in 2012
The Federal Reserve Board on Tuesday issued a final rule requiring top-tier U.S. bank holding companies with total consolidated assets of $50 billion or more to submit annual capital plans for review. Also, the…