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Latest Articles: Business
Tax Receipts Buoy State-Local Government Employment Trend
Post Date: 2012-04-04 11:29:34 by Brian S
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The city of Mesa, Arizona, fired 125 employees in 2009 as tax collections dropped amid a housing slump and a recession. Now, it is filling vacancies, training a class of police recruits for the first time in three years, and Mayor Scott Smith says he’s confident “revenue levels are going to stabilize.” As the Phoenix suburb’s experience shows, the worst may be near an end for city and state governments, and their recovery could in turn give a lift to the U.S. economy. After four years of shuttering fire houses, cutting school budgets and firing teachers and police, these governments are starting to steady as tax revenues rebound. Public employment at all levels ...
Oil Declines After U.S. Stockpiles Surge the Most Since 2008
Post Date: 2012-04-04 11:24:07 by Brian S
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Oil tumbled after the Energy Department said U.S. stockpiles surged the most since 2008 as U.S. crude output climbed to the highest level in 12 years. Futures fell as much as 2.7 percent as inventories rose 9.01 million barrels to 362.4 million in the seven days to March 30, the most since June. U.S. output rose 2.9 percent to 6.05 million barrels a day, the most since 1999. “This was a very big build and the market reacted,” said Todd Horwitz, chief strategist at Adam Mesh Trading Group in New York. “We’re going to probably test $100 in the next week and go lower.” Crude oil for May delivery fell $2.53, or 2.4 percent, to $101.48 a barrel at 11:14 a.m. on the ...
Companies in U.S. Added 209,000 Jobs in March, ADP Employer Services Says
Post Date: 2012-04-04 11:21:05 by Brian S
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Companies in the U.S. expanded payrolls in March, showing the labor market is strengthening, according to data from a private report based on payrolls. Employment increased by 209,000 for the month after a revised 230,000 gain in February, figures from ADP Employer Services showed today. The median estimate in the Bloomberg News survey called for a 206,000 increase. Faster job growth may lead to the wage gains needed to sustain consumer spending, which accounts for about 70 percent of the world’s largest economy. Businesses added 215,000 jobs in March, and the unemployment rate held at 8.3 percent, economists project a Labor Department report will show in two days. “Labor ...
How American Corporations Transformed from Producers to Predators
Post Date: 2012-04-03 11:57:50 by lucysmom
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In 2010, the top 500 U.S. corporations – the Fortune 500 – generated $10.7 trillion in sales, reaped a whopping $702 billion in profits, and employed 24.9 million people around the globe. Historically, when these corporations have invested in the productive capabilities of their American employees, we’ve had lots of well-paid and stable jobs. That was the case a half century ago. Unfortunately, it’s not the case today. For the past three decades, top executives have been rewarding themselves with mega-million dollar compensation packages while American workers have suffered an unrelenting disappearance of middle-class jobs. Since the 1990s, this hollowing out of the ...
Auto Industry Shows Signs of Recovery as Car Sales Surge
Post Date: 2012-04-03 11:17:51 by Brian S
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U.S. auto sales continued at a robust pace in March, boosted by consumers with more confidence in a recovering economy who want to buy fuel-efficient cars and trucks in the face of rising gasoline prices."We feel higher gas prices are accelerating sales, not hurting sales," AutoNation CEO Mike Jackson told CNBC Tuesday. "The industry has gone all-in on efficiency on all vehicles and people are walking in and see they don’t have to give up on size or performance to get 20 percent fuel efficiency."Jackson is so confident about the state of the auto industry he raised his expectations of nationwide sales "sooner than I expected" to 14.5 million for the year ...
U.S. Factory Orders Rose 1.3% in February on Capital Goods
Post Date: 2012-04-03 11:12:38 by Brian S
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Orders to U.S. factories climbed in February for the third month in the last four, boosted by demand for business equipment. Bookings rose 1.3 percent after a revised 1.1 percent decline in January, figures from the Commerce Department showed today in Washington. The median of 60 economists’ projections in a Bloomberg News survey called for a 1.5 percent advance. Orders excluding transportation equipment increased by the most in five months. Demand for new vehicles and business investment are sustaining production gains at American factories, which account for about 12 percent of the world’s largest economy. At the same time, slower growth in Europe and China show that sales ...
Dow Rises to Highest Level Since 2007 on Manufacturing
Post Date: 2012-04-02 19:12:03 by Brian S
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U.S. stocks rose, sending the Dow Jones Industrial Average to its highest level since December 2007, on stronger-than-forecast growth in manufacturing. All 10 groups in the Standard & Poor’s 500 Index advanced. Freeport-McMoRan Copper & Gold Inc. (FCX) and Alpha Natural Resources Inc. (ANR) added more than 1.7 percent, pacing gains among commodity shares. Financial companies rose as Bank of America Corp. (BAC) and Morgan Stanley (MS) climbed at least 0.9 percent. Avon Products Inc. (AVP) jumped 17 percent after Coty Inc. sought to acquire the door-to- door cosmetics seller. The S&P 500 rose 0.8 percent to 1,419.04 at 4 p.m. New York time. The index on March 30 completed ...
Manufacturing in U.S. Expanded at a Faster Pace in March
Post Date: 2012-04-02 11:31:05 by Brian S
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Manufacturing in the U.S. expanded at a faster pace than forecast in March, a sign the industry is weathering slower global growth. The Institute for Supply Management’s factory index climbed to 53.4 last month from 52.4 in February, the Tempe, Arizona- based group’s report showed today. Readings greater than 50 signal growth. The median forecast in a Bloomberg News survey called for a gain to 53. Production accelerated to a three-month high and a gauge of factory employment climbed to the highest level since June. Increased auto sales, sustained corporate purchases of equipment and inventory rebuilding are underpinning the industry that led the U.S. out of recession more than ...
Is Capitalism morally bankrupt?
Post Date: 2012-04-02 11:30:11 by lucysmom
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Summary Many Christians accept Capitalism as broadly in line with biblical teaching. Its economic success appears to vindicate attribution of its origins to Christian theology.[3] This confidence in Capitalism as the best available economic system has meant that Christians have failed to recognise that it is one of the main drivers of social and moral breakdown in Western societies. This paper will highlight five failings in the philosophical foundations and institutions of Corporate Capitalism, pointing to their devastating impact on families and communities, and how they bring about the growth of giant corporations and centralised state power. Christians need to search urgently for a new ...
How Black Leaders Exploit Their People for Political and Financial Gain
Post Date: 2012-03-31 08:51:44 by CZ82
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How Black Leaders Exploit Their People for Political and Financial Gain March 30, 2012 by Gary DeMar The killing of Trayvon Martin by George Zimmerman is showing how liberals – especially blacks – care more about getting the political upper hand than affecting long-term change in black communities. Blacks are used as props to raise political capital. The shooting deaths of two British students — James Cooper and James Kouzaris — murdered last April in Florida by a black youth received no attention by black leaders or President Obama. Three letters were sent to the President that never received a reply. “It would perhaps appear,” friends of the victims said, ...
Wall Street Closes Strongest Quarter In More Than 2 Years
Post Date: 2012-03-30 16:30:32 by Brian S
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NEW YORK | Fri Mar 30, 2012 4:16pm EDT (Reuters) - Stocks ended their strongest quarter in more than two years on a positive note on Friday, led by recently underperforming consumer staples and health care sectors. The Dow Jones industrial average .DJI shot up 66.22 points, or 0.50 percent, to end unofficially at 13,212.04. The Standard & Poor's 500 Index .SPX gained 5.19 points, or 0.37 percent, to finish unofficially at 1,408.47. But the Nasdaq Composite Index .IXIC dipped 3.79 points, or 0.12 percent, to close unofficially at 3,091.57. For the quarter, the Dow rose 8.1 percent, the S&P 500 climbed 12 percent and the Nasdaq jumped 18.7 percent.
Jump In US Consumer Spending Brightens Outlook
Post Date: 2012-03-30 16:28:15 by Brian S
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(03-30) 11:50 PDT WASHINGTON (AP) -- U.S. consumers boosted their spending in February by the most in seven months, raising expectations for stronger growth at the start of the year. Americans spent more even as their income barely grew. To make up the difference, many cut back on saving. Consumer spending rose 0.8 percent last month, the Commerce Department said Friday. The biggest increase since July coincided with the best three-month hiring stretch in two years. Paul Dales, an economist at Capital Economics, suggested that estimated annual growth for the economy in the current January-March quarter may be revised up — to around 2.5 percent, compared with earlier estimates of ...
U.S. Farmers To Plant Most Corn In 75 Years
Post Date: 2012-03-30 13:52:25 by Brian S
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WASHINGTON | Fri Mar 30, 2012 11:32am EDT (Reuters) - U.S. farmers will expand their corn plantings by 4 percent this spring to the largest in 75 years, topping expectations due to surprise reductions in soybeans and spring wheat, according to a government survey on Friday. Soybean prices jumped to hit their highest in six months, extending this year's rally after the Department of Agriculture said farmers would plant 1 percent less of the crop. Analysts had expected a rise in soy acres. Nearby corn prices also climbed after separate data showed stockpiles fell 8 percent from a year ago, a bigger decline than analysts had expected. The two pivotal planting and supply reports are ...
Consumer Sentiment in U.S. Climbed in March to One-Year High
Post Date: 2012-03-30 11:34:32 by Brian S
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Confidence among U.S. consumers unexpectedly rose in March for a seventh straight month as Americans grew more upbeat about the economy. The Thomson Reuters/University of Michigan’s final index of consumer sentiment rose to 76.2, the highest since February 2011, from 75.3 last month. A reading of 74.5 was projected after a preliminary March figure of 74.3, according to a median forecast of 63 economists surveyed by Bloomberg News. Employment growth, income gains and higher stock prices are helping sustain the improvement in confidence that may help lift consumer spending, which accounts for about 70 percent of the economy. At the same time, gasoline that’s increased 20 percent ...
Business Activity in U.S. Held Near a 10-Month High in March
Post Date: 2012-03-30 11:33:29 by Brian S
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Business activity in the U.S. held near a 10-month high in March, showing the economy is weathering rising fuel costs. The Institute for Supply Management-Chicago Inc. said today its barometer fell to 62.2 from 64 in February. Readings greater than 50 signal growth. Economists forecast the gauge would fall to 63, according to the median of 58 estimates in a Bloomberg News survey. The strongest auto sales since 2008 combined with growing business investment in new equipment may keep propelling demand throughout all manufacturing industries, which account for about 12 percent of the economy. Increasing sales will probably also continue to underpin hiring, extending the biggest payroll gains ...
The Warning the 2008 Collapse
Post Date: 2012-03-30 08:06:37 by whyofcourse
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The making of the financial mess Wall Street started. Clinton, Bush and Obama sold us out by hiring these criminals to look out for the best interest for Americans.
Michigan’s Economy Strongest Since 2006 in Comerica Bank Report
Post Date: 2012-03-29 15:23:32 by Brian S
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Auto sales pushed Michigan’s (STOMI1) (STOMI1) economy in January to its highest level in six years, according to Comerica Bank’s monthly economic activity index. Michigan’s index rose to 98 from December’s 91, the best improvement among the five states Dallas-based Comerica monitors, said chief economist Robert Dye. The others are California, Texas, Florida and Arizona. Car sales may continue to fuel the upswing. A “huge” pent-up demand for new vehicles pushed February sales to a level that implies an annual rate of 15.1 million vehicles, Dye said. That’s up from 13.5 million in December. Michigan’s February unemployment rate dropped to 8.8 ...
Consumer Confidence Reaches Second-Highest Level in Four Years
Post Date: 2012-03-29 11:52:49 by Brian S
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Consumer confidence last week reached the second-highest level in four years as more Americans said it was a good time to shop. The Bloomberg Consumer Comfort Index was little changed at minus 34.7 in the period to March 25, close to the minus 33.7 reading two weeks earlier that was the strongest since March 2008. Over the past three weeks, at least 30 percent of households said they had a favorable view of the buying climate, the longest stretch since early 2008. An improving labor market is lifting the moods of those looking for work as the unemployed became more upbeat than at any time since January 2008. Job and income growth is providing consumers with the means to withstand higher ...
Jobless Claims in U.S. Decline to Lowest Since April 2008
Post Date: 2012-03-29 11:49:05 by Brian S
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The number of Americans seeking unemployment benefits dropped last week to the lowest level in almost four years, adding to evidence of an improving U.S. labor market. Initial jobless claims fell 5,000 in the week ended March 24 to 359,000, the lowest since April 2008, the Labor Department reported today in Washington. The median forecast of economists in a Bloomberg News survey called for 350,000 claims. With the report, the government data also contain revisions dating back to 2007. Companies are retaining workers and hiring as sales pick up along with confidence in the expansion. The pace of employment has gained momentum in the past three months, helping drive income growth that may ...
More US CEOs Of Large Companies Plan To Hire As Outlook On Economy Improves
Post Date: 2012-03-28 11:16:56 by Brian S
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WASHINGTON — A growing number of chief executives at large U.S. companies say they are more optimistic about the economy and plan to hire in the next six months. The Business Roundtable says a survey of its CEO members found that 42 percent expect to hire over the next six months. That’s up from 35 percent three months ago. Nearly half plan to spend more on machinery and other capital equipment and more than 80 percent expect their sales to rise. The chief executives’ overall outlook on the economy improved sharply. The group’s outlook index jumped to 96.9 in the current quarter from 77.9 in the final quarter of last year. That’s the highest since last summer. ...
Orders for Durable Goods in U.S. Climb 2.2% on Demand for Cars, Computers
Post Date: 2012-03-28 10:45:28 by Brian S
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March 28 (Bloomberg) -- Orders for U.S. durable goods rose in February, the fourth monthly gain in the last five, spurred by demand for cars, computers and capital equipment. Bookings for goods meant to last at least three years advanced 2.2 percent, less than projected after a revised 3.6 percent decline the prior month, data from the Commerce Department showed. Michael McKee and Betty Liu report on Bloomberg Television's "In the Loop." (Source: Bloomberg) Enlarge image U.S. Durable Goods Orders Probably Rebounded on Aircraft An employee works on a Boeing 787 Dreamliner at the company's factory in Everett, Washington. Photographer: Stuart Isett/Bloomberg Corporate ...
Bidding Wars Erupt as U.S. Supply of Homes for Sale Falls
Post Date: 2012-03-27 11:14:09 by Brian S
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Matthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders. Their $270,000 proposal last month came with a family portrait and a letter introducing the couple, their eight-month- old daughter, Harper, and their desire to build a family in the Renton, Washington, house with a yard backing onto a woody hillside. Bidding wars, absent from most parts of the U.S. residential market since its peak in 2006, are erupting from Seattle and Silicon Valley to Miami and Washington, D.C. The inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability are ...
Consumer Confidence in U.S. Holds Close to One-Year High
Post Date: 2012-03-27 11:10:10 by Brian S
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Confidence among U.S. consumers in March held close to the highest level in a year, underpinned by an improving labor market. The Conference Board’s confidence index dropped to 70.2 from a revised 71.6 reading in February that was higher than initially reported, figures from the New York-based private research group showed today. The median forecast of economists surveyed by Bloomberg News called for a decrease to 70. The best six months of job growth since 2006, unemployment at a three-year low, and stock market gains are giving Americans the means to withstand higher fuel costs. A sustained improvement in moods may keep driving consumer spending, which accounts for about 70 ...
U.S. ‘Pink Slime’ Factories Shut Down Amid Outcry
Post Date: 2012-03-26 18:07:11 by Brian S
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Three factories that made so-called “pink slime” beef filler have shut down since public outcry about the ammonia-treated substance began last month, The Associated Press reported Monday. Beef Products Inc. spokesman Craig Letch told AP that only one factory in the country, located in Dakota Dunes, South Dakota, is still producing the stuff. Three others, in Texas, Iowa and Kansas, have reportedly been shut down. The product, known as “lean, finely textured beef” to industry insiders, is comprised of connective tissue and other less-than-edible pieces of cows, which are mashed into a slimy, pink substance and treated with ammonia gas to kill off bacteria. It is then ...
Pending Sales of US Existing Homes at Near Two-Year High
Post Date: 2012-03-26 12:57:59 by Brian S
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The number of Americans signing contracts to buy previously owned homes held in February near an almost two-year high, a sign that the real estate market may be stabilizing. The index of pending home purchases fell 0.5 percent to 96.5 after a 2 percent increase the prior month, the National Association of Realtors said today in Washington. January’s reading of 97 was the highest since April 2010. The median forecast of 41 economists surveyed by Bloomberg News called for a 1 percent rise. Residential real estate is recovering even amid the threat of more foreclosures, which are weighing on property values. A pickup in hiring, growing incomes and mortgage rates near a record low are ...
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