Archive for April 9th, 2009

Retail Sales Numbers Down A Bit But Don’t Panic

Retail sales in March fell 1.8% after rising 0.3% in February. Before you start looking for the sky to fall consider this from the WSJ: Sales at stores open at least a year, a key indicator of the retail industry’s health, fell 1.8%, according to an index of 31 retailers compiled by Thomson Reuters, after [...]

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Goldman May Raise Money To Pay Back TARP

The WSJ is reporting that Goldman is close to a decision to pursue a multibillion-dollar stock offering. The purpose, of course, is to pay back the TARP funds. Goldman is supposed to release an earnings report early next week. It is expected to be solid. The firm has chafed under the publicity and constraints of [...]

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Did He Or Did He Not Bow?

There seems to be some controversy over whether President Obama bowed before the King of Saudi Arabia. The White House denies that it happened. They say that he was just bending down to eye level as he shook hands with the King. Others suggest he was picking up something from the floor. Here’s the video. [...]

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Ponzi Scheme Of The Day

These things are getting to be as common as the Friday FDIC bank seizures. This one has an attorney at its center. Are you surprised? Authorities charged Robert P. Copeland of Marietta, Georgia with running a Ponzi scheme. Allegedly he swindled about 140 investors out of $35 million. The fraud occurred between 2004 and 2008. [...]

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What Constitutes An American Car?

In case you thought Buy American was just a slogan, consider this.  The administration has ordered the GSA to speed up its purchases of automobiles. The agency is charged with purchasing 17,600 cars and the administration wants it done by June 1. The cars have to be American made but that means something more than [...]

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Economist’s Reactions To The Trade Deficit News

From the WSJ Real Time Economics blog, here are some selected comments from economists concerning the decline in the trade deficit. Go to the site for a complete review. The simple story behind February’s trade figures is that exports stopped falling while imports continued to plunge. Export volumes showed their first increase since July. Most major [...]

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Wells Reports Record Profit

Wells Fargo was the first bank to announce some details on its expected first quarter results. The bank said it expects to post quarterly net income of $3 billion, which is a record.   Various banks have said that they expected the first quarter to mark a turnaround and most analysts have agreed that, given [...]

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