Caitlin Huey-Burns, RCP
The Tea Party trumped the institution in Texas on Tuesday, propelling attorney Ted Cruz to an upset victory over Lt. Gov. David Dewhurst in the nationally watched Republican primary for the Lone Star State's open U.S. Senate seat.Cruz, a 41-year-old Cuban-American who is expected to win the general election in November (Texas hasn't elected a Democrat statewide since 1994), has pledged to bring his unbending conservatism to the upper chamber. The Tea Party's upset win is significant given the widespread rumors of its demise. But Cruz's victory signals that the grassroots...
Tuesday, July 31, 2012
Bill Moyers on Afghanistan
Bill Moyers reflects on President Obama's recent announcement that he will send more troops to Afghanistan.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Gp_j4bpbPlI/watch3.html
Plastic Bag Bans: A Feel-Good Eco-Fad
Todd Myers, RealClearScience
Across the country, cities are joining the latest environmental trend – banning plastic grocery bags. Concerned about the amount of plastic that reaches our oceans and the impact on wildlife, communities have decided that banning the bags is a simple and environmentally responsible approach. But is it? What does the science say?
Across the country, cities are joining the latest environmental trend – banning plastic grocery bags. Concerned about the amount of plastic that reaches our oceans and the impact on wildlife, communities have decided that banning the bags is a simple and environmentally responsible approach. But is it? What does the science say?
Is 'Globesity' the Next Big Thing in Investing?
Filed under: Investing, Stock Picks
Obesity. Climate change. The world's ever-increasing energy needs. These are just some of the megatrends analysts see coming down the global pike, trends that investors can draft behind to make money from the companies that will benefit from them.
Welcome to the world of megatrend investing, where securities companies build portfolios around themes they believe will have long-term, lasting impacts on society.
No, It's Not Profiting at Others' Expense
If this investing style sounds like trying to profit from others' misery, rest assured, it's not. Sure, you could look at the global obesity epidemic and cynically buy stock in Coca-Cola (KO) and McDonald's (MCD), hoping that the world will keep overindulging its way to your benefit.
But what about investing in the companies positioned to fight obesity? Or those which, at the very least, will be forced to deal with the unavoidable repercussions of an overweight population until the issue is remedied?
Bank of America Merrill Lynch (MER) is proposing just that.
Fighting Fat Around the World
In a new report titled "Globesity -- The Global Fight Against Obesity," Merrill Lynch proposes a basket of 50 stocks it sees making gains from the fight against global obesity. The report identifies specific segments of four key sectors for investors to watch:
- Pharmaceuticals and health care: companies taking on obesity-related medical conditions; companies that specialize in equipment for overweight patients, like bigger beds and wider ambulance doors.
- Food: companies trying to access the $663 billion health-and-wellness market.
- Commercial weight loss, diet management, and nutrition: companies trying to access this already $4 billion U.S. market and the growing global one.
- Sports apparel and equipment: companies in tune with the belief that governments and the general public will become increasingly aware that exercise is of paramount importance in taking weight off and keeping it off, and as such will do well selling the necessary equipment.
A Clear Strategy for a Foggy Financial World
Intrigued by the idea of megatrend investing? You should be. It offers one of the closest things to a clearly defined investing path as you're likely to find in this post-crash, slow-growth financial world.
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It doesn't take an expert to see that the four trends listed above are already in motion -- and catching the eyes of investors. "Obesity may be the most pressing health challenge facing the world today and efforts to tackle it will shape thinking by policy makers and in boardrooms around the world," says Sarbjit Nahal, equity strategist at Merrill Lynch Global Research and one of the researchers behind the globesity report.
But before you go charging off to contact Merrill Lynch or find obesity-fighting investments of your own, take careful note of the rest of Nahal's quote: "Global obesity is a megainvestment theme for the next 25 years and beyond."
That's right, 25 years and beyond. They don't call them megatrends for nothing.
Buying for the Really Long Term
Global obesity, climate change, energy issues, and the like are long-term problems. They are almost certain to play out, but your investing strategy has to be long term: buy-and-hold taken to the nth degree.
Buy-and-hold is still the classic way to invest in the stock market. It's what made Warren Buffet rich, and it's what The Motley Fool preaches as well.
That said, you can't just buy shares blindly in a trend-related company and then go fishing. Anyone remember Nutrisystem (NTRI)? Back in 2005, it became one of the hottest stocks around -- a company on a mission to help people everywhere tame their weight. At its peaks, Nutrisystem was going for more than $70 a share. Today? $10.95. So no matter what kind of investing strategy you follow, always stay alert.
You just have to remember that, over the long term, even companies surfing on the waves of megatrends are going to come and go. But keep a sharp eye on your investments, and those trends may reap you mega rewards.
John Grgurich is a regular contributor to The Motley Fool, and owns no shares in any of the companies mentioned in this article. The Motley Fool owns shares of Coca-Cola, McDonald's, and Bank of America. Motley Fool newsletter services have recommended buying shares of McDonald's and Coca-Cola.
Get info on stocks mentioned in this article:
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Source: http://www.dailyfinance.com/2012/07/25/megatrend-investing-globesity-stocks-to-buy-and-hold/
TR35 winner Stephanie Lacour on stretchable electronics
Stephanie Lacour, a research project manager at the University of Cambridge in England, wants to take flexible electronics to the next level, by making them stretchable. Technology Review caught up with Lacour at the Emerging Technology Conference to ask her about the field's potential. In this video clip, Lacour also notes that the impact of her research might not be limited to biology: advertisers could benefit, too.
Source: http://www.technologyreview.com/blog/VideoPosts.aspx?id=17425
One State, Two State, Red State, Blue State
Bill Moyers speaks with political analysts Merle and Earl Black, who've tracked the American electorate for years. They will discuss how American demographics - particularly votes from the Southern and the swing states, such as Ohio and Pennsylvania - will influence the campaign and the election.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/9WFL9gxeglQ/profile2.html
Romney threatens war-murder on Iran, repeats Obama/Bush ‘wipe off the map’ lie
The Telegraph’s 2-minute video shows Mr. Romney claiming Iran’s leaders would “wipe Israel off the map.” Mr. Romney’s senior national security advisor stated that Mr. Romney would “respect” Israel if they initiate armed attack on Iran for alleged “malevolent nuclear … Continue reading
Romney threatens war-murder on Iran, repeats Obama/Bush ‘wipe off the map’ lie was originally published on Washington's Blog
How Safe Are Your Muni Bonds? Not Very, Warns Warren Buffett
Filed under: Economy, Investing, Investment
Does the prospect of earning 0.1% on a bank savings account leave you ... unenthused? Do the 0.2% interest rates that the U.S. government is paying on two-year Treasuries stick in your craw? Maybe you're thinking it's smarter to buy a nice, safe 10-year municipal bond, paying 1.8%, and tax-free to boot?
Think again.
A couple of years ago, when testifying in Washington, D.C., about the state of the U.S. economy, billionaire super-investor Warren Buffett warned Congress of a looming "terrible problem" with U.S. municipal bonds.
Now, Buffett is back, and warning that the crisis is closer than ever.
A Little Bit of History
Time was, municipal bonds ranked among the safest investments you could make. Cities, counties and states that wanted to raise money for a public works project would sell bonds to local companies and taxpayers. When the bonds came due, they'd pay off like clockwork -- because no elected official wants to risk defaulting on his own constituents.
Beginning around the 1970s, though, things began to change. Recognizing that muni bonds were a safe investment that almost never defaulted, insurance companies began clamoring for the right to insure the things, charging small premiums and depositing them right in the bank, rarely worried that they might have to pay out.
Busted, Hamstrung ... and Insured
Today, with states and municipalities swimming in debt, the politics of bankruptcy have changed.
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No longer do states and municipalities have to worry so much about defaulting on voters when declaring bankruptcy. Today, they know that in the event of a default, far-away companies with names like Assured Guaranty (AGO) and Ambac Financial -- and yes, Berkshire Hathaway (BRK.A) (BRK.B) -- are contractually obligated to step in and foot the bill in the event of default.A 2010 report noted that some $2.8 trillion worth of muni bonds were insured against default by private companies.
Chances are, this knowledge is contributing to the recent rash of municipal bankruptcies in California, for example. Over the past month, first Stockton, then Mammoth Lakes, and finally San Bernardino have all filed for bankruptcy protection.
Whatever the motivation for these cities violating the bankruptcy taboo, Buffett believes that they've started the ball rolling in what could soon become a national trend.
The trend may not get as bad as Meredith Whitney's famous 2010 prediction of "hundreds of billions" of dollars in defaults, granted. But the way Buffett sees it, every time you hear about "very sizable cities like Stockton or San Bernardino" declaring themselves insolvent, the "stigma" of other cities admitting they screwed up and can't pay their bills gets a little bit smaller. "The very fact they [file] makes it more likely" that other cities will follow suit, Buffett says.
What's It Mean to You?
Now here's where we get to the good news/bad news portion of the column.
The good news is that if muni bond insurers prove up to the task of paying what they owe on these bankrupt cities' bonds, people like you and me who bought the bonds should be able to rest easy.
The bad news, obviously, is that insurers' ability to pay isn't exactly certain. Insurer MBIA (MBI), for example, has only $3.6 billion in the bank, which won't make much of a dent if $2.8 trillion worth of muni bonds start to go bad. Also, MBIA has $13 billion in debt of its own. Assured Guaranty is in a little bit better shape, but Ambac has already filed for bankruptcy itself.
What does all of this mean for investors who've put their faith in "safe, tax-free" muni bonds? One thing's for certain: It's not good. If more munis start defaulting, and their "muni bond insurance" policies turn out to be worth less than the paper they're printed on, it's taxpayers who will be left holding the bag. A bag that when peered into, will be found depressingly empty of money.
Motley Fool contributor Rich Smith holds no position in any company mentioned. The Motley Fool owns shares of Berkshire Hathaway and Motley Fool newsletter services have recommended buying shares of Berkshire Hathaway.
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Source: http://www.dailyfinance.com/2012/07/19/warren-buffett-muni-bond-default-crisis-warning/
Plug-In Electric Station
We American are at present living with the prospect of paying more than $5 a Gallon for gas. It has turned our mode of life upside down.
We at house housedna.com are working to bring to life, the old joy of driving, by paying 40 cents a gallon of gas. It will be a pleasure going [...]
We at house housedna.com are working to bring to life, the old joy of driving, by paying 40 cents a gallon of gas. It will be a pleasure going [...]
Source: http://www.alternative-energy-news.info/press/plug-in-electric-station/
MF Global and the Risks Looming in the Repo Market
MF Global's crippling bets were only possible because the brokerage firm was able to borrow voraciously in a debt market that also played a big role in the collapses of Lehman Brothers and Bear Stearns.
Mr.CBB’s Weekly Blog Post Picks July 27,2012
It’s Friday, time for Weekly Blog Post picks and that also means another week has come and gone for us. As the month draws to a close reflecting on the past days has made me realize how busy we get this time of year. July has been filled with lots of working days, mainly in [...]
Source: http://canadianbudgetbinder.com/2012/07/27/mr-cbbs-weekly-blog-post-picks-july-272012/
Simon Johnson and James Kwak, Part II
How did Big Finance grow so powerful that its hijinks nearly brought down the global economy – and what hope is there for real reform with Washington politicians on Wall Street's payroll? Bill Moyers talks with authors Simon Johnson and James Kwak, two of the nation's most respected economic experts and authors of the new book 13 BANKERS: THE WALL STREET TAKEOVER AND THE NEXT FINANCIAL MELTDOWN. Also, a Bill Moyers essay on the true costs of war.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/TLwxO15I8SE/watch2.html
Debt crisis: live
Germany Chancellor Angela Merkel and French president Francois Hollande back ECB President Mario Draghi's pledge to preserve the eurozone after Bundesbank opposes bond buying by the central bank.
Monday, July 30, 2012
JPMorgan AGM punctured by thorny hedge issues
The ability of JPMorgan’s “hedge” to generate such large levels of loss supposedly not offset by some equivalent exposure has raised the question of whether such a position would have been permitted under the Volcker rule.
The maxed out CPP/EI “raise” is here!!!
There’s few things quite as exciting as seeing an automatic payroll deposit in your account that’s higher than you expected. I haven’t been on a traditional payroll for a few years so had forgotten how awesome it is to get a ~ 7% raise mid-year.
If you’re wondering when you’ll reach the the max annual employee [...]
If you’re wondering when you’ll reach the the max annual employee [...]
Source: http://singlemomrichmom.com/the-maxed-out-cppei-raise-is-here/
Director Oliver Stone, Part I
Veteran Oliver Stone came back from Vietnam a changed man. Now, with four films on the Vietnam War under his belt –Platoon (1986), Born on the Fourth of July (1989), Heaven & Earth (1993), and Pinkville (2007) – Oliver Stone talks with Bill Moyers about how his experiences of war has affected his life, his work and his vision of the world today. Also on the program, Bill Moyers comments on President Obama's decision to escalate troops in Afghanistan.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/NAsJdMJJdXQ/profile.html
Deepening the American Dream
Bill Moyers introduces "Deepening the American Dream," a Web-only project at www.pbs.org/moyers that features essays and videos of some of Moyers' notable guests laying out their vision for the future of the American dream.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/d-lNS7ZjEhI/index.html
jpmorgan: Obama just lost Ohio and Pennsylvania http://t.co/XJE2pKK6
jpmorgan: Obama just lost Ohio and Pennsylvania http://t.co/XJE2pKK6
Source: http://twitter.com/jpmorgan/statuses/205046601461407745
Foreign Policy and a New President
What will President-elect Obama's promises of change mean for the Middle East? JOURNAL guest host Deborah Amos sits down with Elizabeth Rubin, the Edward R. Murrow press fellow at the Council on Foreign Relations, and Slate magazine columnist Fred Kaplan.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/OeEM2xX8IRo/profile.html
Autodesk 3D CAD modeling app for Mac leverages Mountain Lion features
Autodesk last week released to the Apple App Store the Mac version of its Inventor Fusion 3D CAD modeling application. For free! Offered alongside the release of OS X Mountain Lion, the software offers direct manipulation capabilities and aims for great ease of use, the company said.
Moyers on Memorial Day
Moyers on Memorial Day.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/XAr1TeIm5oQ/watch3.html
A Bill Moyers Essay: Books of 2009
Bill Moyers picks his favorite books from 2009.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/iUzx-Z56a5A/profile3.html
Airport Breaks Ground on $6 Million Solar Facility
BAKERSFIELD Calif. – The Kern County Department of Airports in conjunction with the Kern County Board of Supervisors and Regenesis Power, LLC will officially break ground on a $6 million solar array at Meadows Field (BFL) on July 31, 2008, at 9:00 a.m.
The public is invited to attend the ground breaking which will take place [...]
The public is invited to attend the ground breaking which will take place [...]
Source: http://www.alternative-energy-news.info/press/airport-breaks-ground-solar-facility/
Sunday, July 29, 2012
Mark Crispin Miller
Bill Moyers sits down with Mark Crispin Miller, professor of Media Ecology in the Department of Culture and Communication at NYU, who has been following voter fraud allegations in his blog News from the Underground. An expert on propaganda and media, Miller's book Loser Takes All is an anthology of writings covering election fraud.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/nVdsS-v02PQ/profile.html
When Would Retirees Accept Higher Taxes?
Author(s):
Adriana Reyneri
Inflation and tax increases threaten the security of investors living on a fixed income, yet many retirees would be willing to pay higher taxes in the current economic environment – but only under certain conditions, according to the latest research from Millionaire Corner.
In fact, retirees participating in our July survey of more than 1,400 investors expressed a greater willingness to pay higher taxes to support federal programs and reduce the deficit than did investors still in the workforce.
One-third of retirees agreed that a tax increase would be acceptable at this time if “the government makes a corresponding spending cut.” (Less than 30 percent of working investors feel this way.) One-third of retired investors would also accept a tax increase used to offset the federal deficit, in comparison with roughly 30 percent of working Americans.
Social service programs also appear to be dearer to the hearts of retired investors. Nearly one-third said a tax increase would be acceptable to prevent cuts to social service spending, compared to less than one-fourth of working Americans.
Retirees also would be more willing than working Americans to support education programs through higher taxes, 29 percent vs. 26 percent, respectively. More than 13 percent of retirees, compared to 9 percent of working Americans, would accept higher taxes to prevent cuts to military spending.
Not all retirees would support higher taxes. More than 36 percent feel a tax increase would not be acceptable under current economic conditions, a sentiment shared by an even higher percentage of working Americans (38 percent).
Retirees appear to be more concerned about general inflation and the rising costs of health care, than they are about taxes, according to an earlier Millionaire Corner survey. Our research also indicates that many older Americans remain in the work force because they fear running out of money in retirement.
Related Content:
A Detailed Plan Can Address Retirement Concerns
Older Americans Rely More on Advisors
Source: http://www.millionairecorner.com/article/when-would-retirees-accept-higher-taxes
Andrew J. Bacevich, Part I
Bill Moyers sits down with history and international relations expert and former US Army Colonel Andrew J. Bacevich who identifies three major problems facing our democracy: the crises of economy, government and militarism, and calls for a redefinition of the American way of life. "Because of this preoccupation with the presidency," says Bacevich, "the president has become what we have instead of genuine politics, instead of genuine democracy." Respected across the political spectrum, Bacevich has contributed to The Nation, The American Conservative, Foreign Affairs, among others, and his latest book is The Limits of Power: The End of American Exceptionalism.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/7jDLAkxiaS4/profile.html
EXPOSE: Fatal flaws in gaslines
BILL MOYERS JOURNAL and EXPOSE: AMERICA'S INVESTIGATIVE REPORTS present an investigative story into tragic accidents resulting from natural gas explosions. The report is part of BLUEPRINT AMERICA, a PBS-wide series on the nation's infrastructure
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/tWxHzzdYrII/profile2.html
Wendell Potter on Health Care Reform
Bill Moyers sits down with former insurance executive turned public health advocate Wendell Potter, who argues that all is not lost in the healthcare bill and details what he likes about the legislation.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Eqd40btr70U/profile.html
A beautiful morning
I am appreciating the simple things today. I had to get up early as DS2 is heading up to his camp for 2 weeks and leaves early. I had time for a leisurely cup of coffee on my front step to appreciate the beauty of the morning. It is a bit cool and a breeze but the birds are chirping and the air is fresh and it was so wonderful. For any neighbours who happened to be looking out the window and saw me with bedhead and jammies on my step, perhaps it wasn't quite such a beautiful morning for them :-)
It would have been a great time to go for a walk. That cool of the morning is my favourite time. I hope I will be able to do that again soon.
Friday after school I went to a coworkers who was hosting drinks for whoever was around. It was a lovely couple hours of just sitting there enjoying the fresh air (and shade) and just winding down together. I am so fortunate that for us, coworkers = friends.
Saturday was not my best day side effects wise, so I was not ambitious. The dizziness was not conducive to driving or being upright much. I did go with DH out to my sister's to feed her cats. She is off on a solo motorcycle ride to Vancouver. She needs to recharge and this does it for her. For me, I curled up on her back lawn on a quilt to watch the cats and few remaining kittens gambol about. New kittens are so much fun as they tumble and wrestle. A couple of the mama cats joined me on the quilt and had a nap. We had supper at my parents. Nothing fancy. Just bbq'd burgers and fixings. They are headed off camping to join my third sister and several of the nieces and nephews.
Today after DS2 leaves I am going to do a bit of house tidying, figure out my jars and money and maybe read a bit. SO nice to not spend my whole Sunday at the school as I usually do.
Cost for DS2 for this camp for two weeks - nothing. They run it.
Cost for hanging out with kitties - nothing but the gas to drive the 10 K to her place
Cost for reading - nothing
Having time to appreciate the moments of the day - priceless
It would have been a great time to go for a walk. That cool of the morning is my favourite time. I hope I will be able to do that again soon.
Friday after school I went to a coworkers who was hosting drinks for whoever was around. It was a lovely couple hours of just sitting there enjoying the fresh air (and shade) and just winding down together. I am so fortunate that for us, coworkers = friends.
Saturday was not my best day side effects wise, so I was not ambitious. The dizziness was not conducive to driving or being upright much. I did go with DH out to my sister's to feed her cats. She is off on a solo motorcycle ride to Vancouver. She needs to recharge and this does it for her. For me, I curled up on her back lawn on a quilt to watch the cats and few remaining kittens gambol about. New kittens are so much fun as they tumble and wrestle. A couple of the mama cats joined me on the quilt and had a nap. We had supper at my parents. Nothing fancy. Just bbq'd burgers and fixings. They are headed off camping to join my third sister and several of the nieces and nephews.
Today after DS2 leaves I am going to do a bit of house tidying, figure out my jars and money and maybe read a bit. SO nice to not spend my whole Sunday at the school as I usually do.
Cost for DS2 for this camp for two weeks - nothing. They run it.
Cost for hanging out with kitties - nothing but the gas to drive the 10 K to her place
Cost for reading - nothing
Having time to appreciate the moments of the day - priceless
Source: http://shakingthemoneytree.blogspot.com/2012/07/beautiful-morning.html
Best of Blogs – Blogging Olympics
One of my recent articles has been entered into the Personal Finance Blog Olympics in conjunction with the upcoming Financial Blogger Conference in Denver. Check out the article A Disciplined Spending Plan and if you like it, please put in a vote for the article. I appreciate the support! This Week I Wrote: On Monday...
Related posts:
Related posts:
- Retire Healthy: The importance of good rest
- Understanding Mutual Fund Distributions
- A Tale of Perfect Timing
- A Personal Directive gives direction for health care decisions?
- What are the Benefits of F-Class Programs?
Source: http://retirehappyblog.ca/best-of-blogs-blogging-olympics/
How to Profit From the Biggest Potential Crises of 2012
Filed under: Investing
By Lawrence Meyers, InvestorPlace Contributor Depending on how you view things, we either are in heaps of trouble economically or about to emerge from a terrible recession. Personally, I think it's the former. I always like to have a few trades on my watch list to take advantage of possible crises, as uncertainty creates opportunity. So in looking ahead for 2012, I'm looking to exploit other people's woes like the good capitalist I am.
Here are three bets I'd be pretty comfortable researching in greater detail and possibly pull the trigger on:
Bill Gross, of the famed PIMCO funds, has been a bond guy all his life, and he went bearish on bonds earlier this year. Hell froze over. You can see this either as capitulation or an ominous warning. I am very wary of municipal bonds. Our own country's debt crisis has reached all the way down to municipalities.
When it was revealed that the bond insurers did not have nearly the capital necessary to make payouts on defaulted collateralized debt obligations during the mortgage crisis, I lost all faith in bond insurers. To me, there is an equivalent risk and higher reward with preferred stocks. By purchasing a basket in an ETF such as iShares S&P Preferred Stock Index Fund (NYSE:PFF), you give yourself a 7% yield with minimal volatility. Get out if interest rates rise significantly, though.
Underfollowed and under-read fund manager Robert Rodriguez is a genius. He thinks we're headed for more recession next year, and Congress has been inept in its handling of fiscal policy. I agree. He hates bonds right now, except for very short-duration bonds, and so do I. Prices are near a double-top. I think bond prices will get hit next year, so I might short the iShares Barclays 20+ Treasury Bond Fund (NYSE:TLT).
Going hand-in-hand with our economic crisis has been the decline of the dollar. That trend will continue. That means you can short the dollar via PowerShares DB US Dollar Index Bearish (NYSE:UDN).
The real question at hand is this: Why the heck is the market doing so well in the face of really bad economic times? If you read my recent series on the Dow Jones Industrial Average, you know about several Dow stocks that would make for good long-term additions to a portfolio. That is the key to understanding investment in the market going forward - careful individual stock picking. Go with large-caps in general, and only go with small-caps that are directly benefiting from the situation. As for other systemic shocks that might or might not happen, have your trigger finger ready for these possibilities.
I expect some trigger event to knock the market down 20%. Perhaps it will come from Europe. Or, if Obamacare is upheld by the Supreme Court, expect the market to correct significantly. It will be a sign that overreaching regulation and legislation is acceptable to the High Court, and that's bad for business. However, if it is overturned, then go long Health Care SPDR (NYSE:XLV). Likewise, should Obama be re-elected, the market will react badly. So look at ProShares Short S&P 500 (NYSE:SH). If Obama is kicked out and the GOP takes over Congress, I expect a market surge, so you could go long the market with SPDR S&P 500 ETF (NYSE:SPY).
Stay far away from financials. There might be another big shock coming to the system. I am wary of Bank of America's (NYSE:BAC) stability, and certain sources tell me that the bad behavior of bond insurers, reinsurers and investment banks hasn't changed a bit. If you want to make an aggressive bet on this arena, double-short financials via ProShares UltraShort Financials (NYSE:SKF).
Finally, if you really want to bet against improvement in the global economic situation, believe Obama will be re-elected, that Europe will crater, that commodity prices will once again skyrocket, and that the dollar will crash, then you can short the market big-time via ProShares UltraPro Short S&P 500 Index Fund (NASDAQ:SPXU) and ProShares UltraPro Short Nasdaq 100 ETF (NASDAQ:SQQQ). These babies give you 3x leverage on your short bet.
Of course, all of these are highly speculative plays based on highly speculative crises of 2012. As always, do your own research and, for Heaven's sake, use stop-losses.
Lawrence Meyers does not hold a position in any securities mentioned but may have a position in several stocks the ETFs own. Check out InvestorPlace.com's other looks back at 2011 and ahead to 2012 here.
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Source: http://www.dailyfinance.com/2011/12/12/how-to-profit-from-the-biggest-potential-crises-of-2012/
Remembering Charles Houston
Bill Moyers remembers his friend, renowned physician and mountaineer Charlie Houston
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/UAE3zdXTJHs/profile2.html
Saturday, July 28, 2012
SCOTUS and Campaign Finance
Are America's elections now up for sale? The JOURNAL explores what the Supreme Court's decision means for campaign finance reform and the future of our democracy with progressive legal experts Monica Youn and Zephyr Teachout. Monica Youn directs the campaign finance reform/money in politics project at NYU's Brennan Center for Law and Justice and Zephyr Teachout teaches law and politics at Fordham University's School of Law.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/lktKkMJ_Qzw/profile2.html
Coming to Terms with My New Financial Reality
If my friends were to describe me, one of the first things they’d tell you is that I love finding hidden money. I’m no savings guru, but I love doing research to find discounts, deals and ways to grow my money. Although I consider myself somewhat ahead of the game, I still have a long way to go. For the first time ever, I have an array of new financial obligations weighing on my shoulders. MORE
Expose on the Journal: Worker Safety
Injury rates reported at America's poultry plants have dropped dramatically in recent years, and so have workplace safety inspections. Are regulators rewarding companies for inaccurate reporting of injuries? Bill Moyers Journal and Expose: America's Investigative Reports go inside America's poultry industry, which employs almost a quarter million workers nationwide, to show the reality of working conditions and to investigate how official statistics showing a drop in workplace injuries may have been the result of deceptive reporting.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/VgfozGOkPoM/profile.html
Episode 388: Putting A Price Tag On Your Descendants
It's tough to figure out how big price-tags really are when they're far in the future. But getting it wrong can have serious consequences.
What's the best way for developers communicate with their customer?
What happens when vendors have some information that's vital to deliver to the customer base? Facebook? E-mail? Rogue Amoeba, the maker of a number of popular Macintosh audio utilities talks up its new in-application programming interface for sending important news directly to users.
Source: http://www.zdnet.com/whats-the-best-way-for-developers-communicate-with-their-customer-7000000931/
Golden Age a Thing of the Past
It's been a long time coming, and we hate to be the ones to break it to you, but the Golden Age of Retirement may be over. The signs have been there for years, and the outlook grim, but at this point, there's just no denying the facts.
There's a good chance that you have a relative who is still living out his or her Golden Age. It's a little like window shopping. You can see what they're getting, and it's within your grasp, but there's something keeping you from it. Of course, that doesn't mean that achieving the equivalent of the Golden Age is impossible. It's simply going to take a lot of work.
Let's look at some facts, shall we?
Fact #1: Older Baby Boomers don't know how well they have it.
It's a bit simplistic to say that older Baby Boomers have it "easy." Easy is a relative term, one up for debate. But the fact remains that in a lot of ways, Baby Boomers have had a cushier time of retirement. Many of them are doing well for themselves financially, due to windfalls such as company pensions. Some even have sizable inheritances. And statistically, they have a greater chance of maintaining a good amount of equity in their homes.
Fact #2: The Great Recession was devastating.
It's been nearly five years since the Great Recession started, and two years since it officially ended. A number of people, too large a number really, were devastated by what occurred. Many of them lost their jobs, and some individuals approaching retirement had no choice but to retire. This financial crisis also cut down on the number of large inheritances that had been provided to Baby Boomers in the past.
Fact #3: Personal responsibility appears to be waning.
It is an unfortunate fact that many people play the "blame game." When something catastrophic happens, like a plunging market or the loss of their job, a number of people react by trying to find someone to blame. They accuse executives of wrongdoings, cast aspersions on those in the government, and even try to find fault with their own relatives who might have suggested a specific financial strategy that went wrong.
While some or all those things might be to blame, it is important that you also take some personal responsibility when it comes to your retirement planning. The truth is, many people aren't saving anything for their retirement. Not "a little." Not "just enough." Nothing ... or very close to it. Procrastination seems to be a part of the American tradition in a lot of ways. And as you can imagine, putting off saving for your future isn't exactly the best plan. Yet millions are joining the fray.
Fact #4: Spending has not stopped.
This is an offshoot of "personal responsibility." For several years, Baby Boomers became accustomed to a steady flow of cash. If they wanted to buy something, they bought it, often without looking at the price or the balance of their checkbooks. They knew they had money, and even if they began running low, they had a pension, inheritance, or some other financial windfall to held carry them through their retirement. Strangely enough, individuals who are now approaching retirement are also taking that same stance. The problem, of course, is that this Golden Age is over, and thus, so is the "willy nilly" spending. It's time to tighten those pocketbooks and realize that times have changed.
Source: http://firstsecurityfinancialshow.com/blog/bid/169444/Golden-Age-a-Thing-of-the-Past
Justice for Sale
As two-thirds of American voters oppose the Supreme Courts decision in Citizens United v. FEC, Bill Moyers Journal takes a hard look at how campaign cash in judicial races may sway America's courts. The Journal revisits the 1999 FRONTLINE special "Justice for Sale" which looked at the growing concern - even among Supreme Court justices themselves - that campaign contributions may be corrupting the judicial process.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/dZNHXk3wkn0/profile2.html
jpmorgan: RT @andrewmason: $100 for a bedtime tuck-in? Sign me up - and get yours while they last: http://t.co/TI4UBSky
jpmorgan: RT @andrewmason: $100 for a bedtime tuck-in? Sign me up - and get yours while they last: http://t.co/TI4UBSky
Source: http://twitter.com/jpmorgan/statuses/209436164770381824
Forex – An alternative Investment
Earlier this month I did something that most of you will probably cringe at – I opened a Forex trading account. To justify my actions (as much as I do not have to) I must state that I am a fan of having ‘fun money’ and my Forex brokerage account will be mine. For those of [...]
Source: http://feedproxy.google.com/~r/MyCanadianFinances/~3/bsYqpK3pPdY/
Norb Vonnegut: From Wealth Management to Author--"What Could Go Wrong?"
Author(s):
Donald Liebenson
Norb Vonnegut is, according to New York Times reviewer Janet Maslin, “a seriously underappreciated author of three glittery thrillers about fiscal malfeasance.” But with his third novel, The Trust, he will no doubt start getting his due.
Vonnegut (fourth cousin to the late, legendary author Kurt) had a 20 year career as a banker and Wall Street wealth manager before writing his first book, Top Producer. He left the Street behind, but not entirely. Those two decades, he estimates, have given him a lifetime of plots for gripping, page-turning financial thrillers.
The Trust is Vonnegut’s second book to feature stockbroker Grove O’Rourke (think Ryan Gosling should they make the movie), who becomes embroiled in some brutal business down South in Charleston, S.C. when he joins the board of his beloved mentor’s philanthropic board. It would be his mentor’s last request—his body is found washed ashore. Boating accident or something more sinister? To reveal more would be criminal, but Kirkus Reviews hailed the book as “fast and furious…a guaranteed good time.”
Vonnegut spoke with Millionaire Corner about leaving Wall Street for life as a writer, and how the former prepared him well for the latter.
Millionaire Corner: Was it a difficult transition to go from Wall Street to being an author?
Norb Vonnegut: It didn’t feel as huge a transition as you might expect. When I was managing money, my job, basically, was to ask the question, “What can go wrong?” and then to protect my clients and their portfolios. As a writer I ask the same question, but instead of protecting my clients, I’m taking readers on a roller coaster ride.
MC: What wealth management skills have served you well as a writer?
NV: Wealth management was like a dry run to becoming a writer of financial fiction. Outside of a 50-mile radius of Wall Street, everyone thinks Wall Street is a four letter word and that the (financial) instruments are too complex for anyone without exposure to them to fully understand. Even (comparatively) simple things like stocks and bonds take time to explain. My job was to make Wall Street and the products of Wall Street as simple to understand as possible. I have 20 years of practice, and that has really helped me as writer of financial thrillers.
MC: During the Cold War, Russians were the villains of choice. Today, it's Wall Street and big banks. The timing seems opportune to write about financial skullduggery.
NV: There is an annual convention for writers of thrillers. One of the things writers of financial thrillers say is that Wall Street is fertile ground for creating villains. I suppose that’s true, but it’s unfortunate, because in the real world, there are lots of good men and women (who work there).
I try to strike a balance. My villains come from Wall Street, but my heroes come from there, too.
MC: One of those heroes, Grove O’Rourke, is making his second appearance. Budding writers are advised to write what they know, and you know Wall Street. Still, a stockbroker isn't your average action hero.
NV: If you think about police, legal, and medical fiction, they all have one thing in common: Those genres explore relationships. So many different kinds of people cycle through the lives of cops, doctors, and lawyers. They have the greatest stories in the world. The same is true of stockbrokers.
MC: What was the inspiration for The Trust?
NV: It’s based on something that happened to my team at Morgan Stanley in the late 1990s. We managed $2 billion in assets, which ballooned to $10 billion in the dot.com era. One of my partners got a phone call from a guy who said, ‘I’ve heard good things about you and I want to invest $2 million, and if you do a good job, there’s more to follow.’ That never happens! Stockbrokers chase money, not the other way around. We submitted the man’s name to our compliance department, which kept a ‘Bad Guys’ list. Sure enough, he was on the list. He was (drug kingpin) Pablo Escobar’s first cousin and he was knee deep in the family business. Needless to say, we were terrified, and we cut off all contact.
But I thought about the experience. Often in my practice, I helped families set up charitable foundations. A lot of money floated around the foundations with the idea to give as much money to charity and keep expenses lean. It got me thinking: What would you do if a Columbian drug lord permeated your defenses and became the fabric of a family’s finances?
MC: What about Wall Street hours vs. writer hours?
NV: I really have two jobs. Authors right now are emerging as a new breed of entrepreneur. When I get up, I flog myself until I get 1,000 words on the page. That takes the better part of the morning. From there, it’s trying to get the word out about The Trust. That’s a second business. So my hours these days are about 7 in the morning to 11 at night. Even when I read for pleasure, I’m reading for structure and style to improve what I write. There are a great many authors out there I’m trying to learn from, such as James Lee Burke.
MC: You are related to Kurt Vonnegut. Was he an influence and did you ever talk about writing?
Vonnegut: Kurt is a source of inspiration everyday in all the ways you can imagine and some you cannot. You know him as one of the greatest writers, but I know him as a phenomenal salesman. He was always pitching something. He could have been a great bond trader (laughs).
MC: What’s next?
NV: I have enough material from my days on Wall Street for the next 50 years. I have two Grove stories in mind, bur first, I’m working on a piece of non-fiction. What I can tell you is that my co-author spent two years in jail. (Vonnegut’s website describes the project as being about “the American Dream colliding with American justice”).
MC: When you were working on your first book, did you tell any of your Wall Street colleagues what you were doing?
NV: I didn’t and the reason is because it would have been too easy to find reasons to stop writing. If you show someone what you’re working on, and they don’t say it’s the greatest thing in the history of western civilization, you’re totally crestfallen. I didn’t tell anyone initially, including my friends on Wall Street. In all honesty, they weren’t going to be part of the decision as to what I was going to do next. It is what it is. You get one shot at life. I wanted to do this, and I’m really enjoying it.
Source: http://www.millionairecorner.com/article/norb-vonnegut-wealth-management-author-what-could-go-wrong
Should There Be A Limit On Items At The Self-Checkout Line?
Self-checkout lanes have become a topic of debate in the retail world in recent years. Does it speed up the process and cut down on labor costs, or are they high-maintenance money pits that put people out of work? Are they intended to be used for small purchases of just a few items -- or [...]Source: http://consumerist.com/2012/07/should-there-be-a-limit-on-items-at-the-self-checkout-line.html
Friday, July 27, 2012
Saucony Wins Dedicated Customer By Replacing Worn-Out Sneaker Without Hassle
It's Friday, the Olympics are starting, the sun is shining (though maybe a bit too much for some folks) and well... like we said, it's Friday. So let's start the weekend off with a story of a company that looked at a customer's complaint, dealt with it quickly and without hassle, and earned a loyal [...]
Animals & Money: eBay, ivory, and the animal trade
Filed under: Reduce Reuse Recycle, Retail
This week eBay announced it would stop selling ivory products -- even antiques. The idea is to make sure there's less of a viable market for ivory -- and help cut the demand that leads to more elephant killing. The decision comes just before the International Fund for Animal Welfare issued a report Killing with Keystrokes that shows how illegal trade in animals and animal parts goes on right in the virtual public square -- online auctions.
IFAW looked at 183 publicly available websites in 11 countries for six weeks and turned up
7,111 online auctions for species that shouldn't be traded. The vast majority were for trade in endangered species, specifically elephant ivory, but also included live birds and some other animal products.
Continue reading Animals & Money: eBay, ivory, and the animal trade
Read | Read | Read | Permalink | Email this | Comments
Source: http://www.dailyfinance.com/2008/10/24/animals-and-money-ebay-ivory-and-the-animal-trade/
Journal Updates
From the Farm Bill to the situation in Sadr City - updates on JOURNAL stories.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/8z3i8_bsm08/profile4.html
This Fall's Debates: What's New and What's Not
Scott Conroy, RCP
In a general election saturated by a never-ending series of charges and counter-accusations, one area over which the campaigns of Barack Obama and Mitt Romney will likely not argue much is perhaps the most heavily scrutinized ritual in choosing the next president: the debates.On Wednesday, the Commission on Presidential Debates announced the formats, locations and dates of the three scheduled presidential debates and the lone vice-presidential forum. A privately funded, nonprofit organization, the CPD has been responsible for producing every general election presidential and vice-presidential...
In a general election saturated by a never-ending series of charges and counter-accusations, one area over which the campaigns of Barack Obama and Mitt Romney will likely not argue much is perhaps the most heavily scrutinized ritual in choosing the next president: the debates.On Wednesday, the Commission on Presidential Debates announced the formats, locations and dates of the three scheduled presidential debates and the lone vice-presidential forum. A privately funded, nonprofit organization, the CPD has been responsible for producing every general election presidential and vice-presidential...
Desperate Obama Backers Play Race Card
Michael Medved, Daily Beast
As the Obama campaign struggles against powerful riptides of economic bad news, some of the president's most fervent apologists have returned to the old habit of blaming all his political troubles on racism. State Sen. Louise Lucas, one of the leaders of the official "Obama Truth Team" in the crucial swing state of Virginia, told a local radio show that Mitt Romney and his supporters won't accept anyone "other than a white man in the White House." She declared that she couldn't conceive of any other reason that her fellow citizens might disapprove of the...
As the Obama campaign struggles against powerful riptides of economic bad news, some of the president's most fervent apologists have returned to the old habit of blaming all his political troubles on racism. State Sen. Louise Lucas, one of the leaders of the official "Obama Truth Team" in the crucial swing state of Virginia, told a local radio show that Mitt Romney and his supporters won't accept anyone "other than a white man in the White House." She declared that she couldn't conceive of any other reason that her fellow citizens might disapprove of the...
Source: http://www.realclearpolitics.com/2012/07/27/desperate_obama_backers_play_race_card_285931.html
Friday Links
This week Million Dollar Journey investigated Dividend Investing Strategies – Invest Through Your Corporation. We all want to retire as quickly as possible but it’s important that you know these Common Misconceptions of Retirement that the Retire Happy blog shared this week. The Canadian Couch Potato wants to know, Are We In A Secular Bear...
Related Posts:
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America's Policy on Bombing.
On the heels of the American drone attacks on suspected terrorist compounds in Pakistan, Bill Moyers Journal takes a closer look at America's history of and current policy on bombing, explores the ethics behind these assaults when civilians become the victims and asks: Does bombing work? Bill Moyers sits down with historian Marilyn Young, author of the forthcoming Bombing Civilians: A Twentieth Century History and former Pentagon official Pierre Sprey, who developed military planes and helped found the military reform movement.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/bG7MAxRPpHM/profile.html
But I don’t like roller coasters! I like carousels.
What I feared has come upon me… ~ Job
(JOB. Coincidence? I think not.)
Target bal
Current/
Portfolio
Gain/(loss)
YTD
Annual
Dec-11
209,769
Invested
Actual
Gain
less inv
%
%
Jan
217,292
217,288
7,519
7,519
3.6%
43.0%
Feb
224,815
5,000
224,808
15,039
10,039
4.8%
28.7%
Mar
232,338
15,000
235,273
25,504
5,504
2.6%
10.5%
Apr
239,861
235,568
25,799
5,799
2.8%
8.3%
May
247,384
5,000
227,578
17,809
– [...]
(JOB. Coincidence? I think not.)
Target bal
Current/
Portfolio
Gain/(loss)
YTD
Annual
Dec-11
209,769
Invested
Actual
Gain
less inv
%
%
Jan
217,292
217,288
7,519
7,519
3.6%
43.0%
Feb
224,815
5,000
224,808
15,039
10,039
4.8%
28.7%
Mar
232,338
15,000
235,273
25,504
5,504
2.6%
10.5%
Apr
239,861
235,568
25,799
5,799
2.8%
8.3%
May
247,384
5,000
227,578
17,809
– [...]
Source: http://singlemomrichmom.com/but-i-dont-like-roller-coasters/
Traces of the Trade
The JOURNAL previews P.O.V.'s TRACES OF THE TRADE
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/E_ifu8WqlpE/watch.html
Norb Vonnegut: From Wealth Management to Author--"What Could Go Wrong?"
Norb Vonnegut is, according to New York Times reviewer Janet Maslin, “a seriously underappreciated author of three glittery thrillers about fiscal malfeasance.” But with his third novel, The Trust, he will no doubt start getting his due.
Vonnegut (fourth cousin to the late, legendary author Kurt) had a 20 year career as a banker and Wall Street wealth manager before writing his first book, Top Producer. He left the Street behind, but not entirely. Those two decades, he estimates, have given him a lifetime of plots for gripping, page-turning financial thrillers.
The Trust is Vonnegut’s second book to feature stockbroker Grove O’Rourke (think Ryan Gosling should they make the movie), who becomes embroiled in some brutal business down South in Charleston, S.C. when he joins the board of his beloved mentor’s philanthropic board. It would be his mentor’s last request—his body is found washed ashore. Boating accident or something more sinister? To reveal more would be criminal, but Kirkus Reviews hailed the book as “fast and furious…a guaranteed good time.”
Vonnegut spoke with Millionaire Corner about leaving Wall Street for life as a writer, and how the former prepared him well for the latter.
Millionaire Corner: Was it a difficult transition to go from Wall Street to being an author?
Norb Vonnegut: It didn’t feel as huge a transition as you might expect. When I was managing money, my job, basically, was to ask the question, “What can go wrong?” and then to protect my clients and their portfolios. As a writer I ask the same question, but instead of protecting my clients, I’m taking readers on a roller coaster ride.
MC: What wealth management skills have served you well as a writer?
NV: Wealth management was like a dry run to becoming a writer of financial fiction. Outside of a 50-mile radius of Wall Street, everyone thinks Wall Street is a four letter word and that the (financial) instruments are too complex for anyone without exposure to them to fully understand. Even (comparatively) simple things like stocks and bonds take time to explain. My job was to make Wall Street and the products of Wall Street as simple to understand as possible. I have 20 years of practice, and that has really helped me as writer of financial thrillers.
MC: During the Cold War, Russians were the villains of choice. Today, it's Wall Street and big banks. The timing seems opportune to write about financial skullduggery.
NV: There is an annual convention for writers of thrillers. One of the things writers of financial thrillers say is that Wall Street is fertile ground for creating villains. I suppose that’s true, but it’s unfortunate, because in the real world, there are lots of good men and women (who work there).
I try to strike a balance. My villains come from Wall Street, but my heroes come from there, too.
MC: One of those heroes, Grove O’Rourke, is making his second appearance. Budding writers are advised to write what they know, and you know Wall Street. Still, a stockbroker isn't your average action hero.
NV: If you think about police, legal, and medical fiction, they all have one thing in common: Those genres explore relationships. So many different kinds of people cycle through the lives of cops, doctors, and lawyers. They have the greatest stories in the world. The same is true of stockbrokers.
MC: What was the inspiration for The Trust?
NV: It’s based on something that happened to my team at Morgan Stanley in the late 1990s. We managed $2 billion in assets, which ballooned to $10 billion in the dot.com era. One of my partners got a phone call from a guy who said, ‘I’ve heard good things about you and I want to invest $2 million, and if you do a good job, there’s more to follow.’ That never happens! Stockbrokers chase money, not the other way around. We submitted the man’s name to our compliance department, which kept a ‘Bad Guys’ list. Sure enough, he was on the list. He was (drug kingpin) Pablo Escobar’s first cousin and he was knee deep in the family business. Needless to say, we were terrified, and we cut off all contact.
But I thought about the experience. Often in my practice, I helped families set up charitable foundations. A lot of money floated around the foundations with the idea to give as much money to charity and keep expenses lean. It got me thinking: What would you do if a Columbian drug lord permeated your defenses and became the fabric of a family’s finances?
MC: What about Wall Street hours vs. writer hours?
NV: I really have two jobs. Authors right now are emerging as a new breed of entrepreneur. When I get up, I flog myself until I get 1,000 words on the page. That takes the better part of the morning. From there, it’s trying to get the word out about The Trust. That’s a second business. So my hours these days are about 7 in the morning to 11 at night. Even when I read for pleasure, I’m reading for structure and style to improve what I write. There are a great many authors out there I’m trying to learn from, such as James Lee Burke.
MC: You are related to Kurt Vonnegut. Was he an influence and did you ever talk about writing?
Vonnegut: Kurt is a source of inspiration everyday in all the ways you can imagine and some you cannot. You know him as one of the greatest writers, but I know him as a phenomenal salesman. He was always pitching something. He could have been a great bond trader (laughs).
MC: What’s next?
NV: I have enough material from my days on Wall Street for the next 50 years. I have two Grove stories in mind, bur first, I’m working on a piece of non-fiction. What I can tell you is that my co-author spent two years in jail. (Vonnegut’s website describes the project as being about “the American Dream colliding with American justice”).
MC: When you were working on your first book, did you tell any of your Wall Street colleagues what you were doing?
NV: I didn’t and the reason is because it would have been too easy to find reasons to stop writing. If you show someone what you’re working on, and they don’t say it’s the greatest thing in the history of western civilization, you’re totally crestfallen. I didn’t tell anyone initially, including my friends on Wall Street. In all honesty, they weren’t going to be part of the decision as to what I was going to do next. It is what it is. You get one shot at life. I wanted to do this, and I’m really enjoying it.
Source: http://www.millionairecorner.com/article/norb-vonnegut-wealth-management-author-what-could-go-wrong
Marta Pelaez on Families in Trouble.
Bill Moyers talks with Marta Pelaez, president and CEO of Family Violence Prevention Services, Inc., a domestic abuse shelter in San Antonio, TX, for perspective on the human face of the economic downturn and how it may be pushing more families over the edge.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/W-wvzgtJbts/profile2.html
Computer Giant Cisco to Lay Off 1,300 Employees in Latest Cutback
Filed under: Company News, Technology, Cisco Systems, Stocks in the News
SAN JOSE, Calif. -- Cisco Systems is preparing to lay off about 1,300 workers just a few months after the world's largest maker of computer networking equipment warned that growing economic uncertainty is making it tougher to close sales with its customers.
The cuts announced Monday represent about 2% of Cisco's (CSCO) payroll of 65,000 workers.
The upcoming layoffs represent the company's latest austerity measure. Last year, Cisco shed about 10,000 jobs as part of a program aimed at saving about $1 billion annually.
Cisco says it is shedding jobs to simplify its operations and adjust to changing economic conditions around the world. The company, which is based in San Jose, Calif., didn't specify what parts of its operations will be trimmed.
"We routinely review our business to determine where we need to align investment based on growth opportunities," the company said in a statement. "Additionally, we continue to evaluate our organizational structure as part of our plan to drive simplicity, speed of decisions and agility across Cisco."
The belt-tightening comes after Cisco offered revenue guidance for its current quarter that was well below Wall Street expectations. Cisco cautioned its revenue for the period that ends this month is like to increase by as little as 2% from the same time last year. At the time that guidance was issued in early May, analysts had been anticipating a revenue increase of 7%.
Cisco CEO John Chambers said the company might have to adjust to rapidly shifting economic conditions beyond its control. In particular, he said the buyers of Cisco's networking gear were becoming more reluctant to make big purchases because of shaky economic conditions in Europe and other parts of the world, including India.
Sponsored Links
"We will muddle through this with a little bit of bumps on the road," Chambers told industry analysts back in May.Cisco's shares shed 29 cents, or nearly 2%, to close Monday at $16.07, then dipped another 20 cents in extended trading.
The company is scheduled to release its results for the current quarter on Aug. 15.
Get info on stocks mentioned in this article:
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Source: http://www.dailyfinance.com/2012/07/23/cisco-layoffs-1300-employees-computer-giant/
Thursday, July 26, 2012
Friday's Circle of Friends - June 1
Happy June and welcome to this week's edition of Friday's Circle of Friends.
Looking at the calendar, I just realized that as of tomorrow my blog will be 4 months old.
So much has happened in the last 4 months and sometimes it's just hard to keep up with everything and everyone.
While some people hope to earn money through their blog, many people view blogging as a hobby.
No matter whether you are blogging for fun or for income, I'm sure you will agree that blogging on a regular basis is a lot of work. There is so much more to it than writing a post everyday or every second day.
But I digress. Today isn't about all the work that goes into building a blog, today is about sharing fun, educational, and inspiring posts from other bloggers around the world. Some will make you laugh your a$$ off and for some you may shed a tear. Either way, please enjoy!
Is It Time for the Next Chapter in Your Life?
“The experience of being fired, which I once viewed as tragic, actually allowed me to expand my vision of...”
Sometimes the Grass Isn’t Close to Green on the Other Side of the Fence….
Incredibly funny story that you will not want to miss...
“Him: How’d you like to be Yogi Bear?
Me: Come again? (I didn’t know if I should be offended. I knew I’d had a few beers in my day, but my waist was still fairly trim).
Him: Yogi Bear. I like having dads play the part of Yogi Bear on the hayride.
Me: You’ve got to be f$%#ing kidding me. Hell yeah. I’m in.”
10 Tips For New Bloggers. What Are Some Things I Should Consider When Starting A Blog?
“I think some people have a romantic notion that they’ll start writing a blog, 1 post a week, and magically a month later they’ll be making enough money to...”
Self Manager – Additional Characteristics that Separate the Self Manager from Normal People
“Stay away from complete normalcy and so-called normal people. Change your thinking, and...”
How to Prepare for a Financial Transition
“I have a really hard time dealing with change. I’m not sure if it’s because I’m a naturally emotional person and I get...”
Go Ahead and Buy Yourself a Coffee – You Deserve It
“people who are deciding to live WELL below their means on or at near-poverty level income. And their proud of it! It’s their way of being frugal. But to me, it’s just...”
Turn Your House into a Social Butterfly Haven
“Unfortunately many social activities can eat up an unreasonable portion of your budget. Dinner out with friends? Expensive. Cocktail hour or a night out dancing? Even more expensive. There is a...”
“I've negotiated my salary a couple of times. Once I asked for a raise, but then found out..”
Save on Laundry Detergent: Is There a Difference in Brands?
“Recently, news reports devoted airtime to highlighting the fact that brand-name detergents like Tide have become...”
“So how exactly did they encourage me to want to save money? They had this great incentive for kids to deposit money! The credit union had a...”
Have a fun weekend!
Source: http://tacklingourdebt.com/2012/06/01/fridays-circle-friends-june-1/
Mike Davis.
With the media buzzing over socialism in the Beltway, Bill Moyers sits down with "old-school socialist" Mike Davis for his critique of the government's response to the economic crisis and how he thinks it compares to Roosevelt's New Deal. Mike Davis is a writer and historian, who currently teaches creative writing at University of California, Riverside.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/fHhW29MGkkA/profile.html
Turn Your Old Nalgene Bottles into Solar Lights
Don’t throw away your old polycarbonate water bottle – turn it into a solar lantern! The last thing this planet needs is any more plastic in the landfills. But what do you do with your old polycarbonate water bottle (Nalgene or similar) that you don’t want to use any more? Don’t throw it away! [...]
Source: http://www.alternative-energy-news.info/press/solar-light-bottles/
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