Newly released Federal Election Commission (FEC) figures reveal that $18 million of the $43 million President Barack Obama raised for his second inauguration came from corporations, unions, and interest groups…..
Obama’s big money corporate donors included:
Bank of America–$300,000
Now Obama targets your FedEx, UPS packages
The Obama administration is demanding the nation’s two biggest shipping companies police the contents of Americans’ sealed packages, and a FedEx spokesman is warning that the move “has the potential to threaten the privacy of all customers that send or receive packages.”
FedEx and UPS are in the Justice Department’s cross-hairs for not flagging shipments of illegally prescribed drugs the companies say they had no [...]
Underneath The Surface, People Are Seeing Signs That The Stock Market Is Breaking Down
Doug Kass says the same thing today, pointing to “subsurface weakness” in the market.
Here are a few points Kass highlights in his note:
The Russell 2000 underperformed on Monday (-1.3%) and was down (-0.5%) on an up day on Tuesday.
The advance/decline line is eroding as the market’s rise narrows.
Breadth disappointed – yesterday, NYSE decliners eclipsed advancing issues by over 200, excluding ETFs and fixed-income [...]
No Surprises From FOMC – Statement Redline Comparison
*FED SEES ECONOMY RETURNING TO MODERATE GROWTH AFTER Q4 PAUSE
*FED CONTINUES TO SEE DOWNSIDE RISKS TO ECONOMIC OUTLOOK
*FED MAINTAINS $85 BILLION MONTHLY PACE OF BOND BUYING
*FED SAYS FISCAL POLICY HAS BECOME SOMEWHAT MORE RESTRICTIVE
Europe Is A Complete Disaster, And Its Luck May Have Just Run Out
What just happened in Cyprus has always been a risk.
Against the backdrop of bad theory and bad policies, [...]
HOUSTON — Sitting in front of his computer, Al Alverson said he couldn’t believe what he saw when went back to look at surveillance video recorded from a camera he had installed above his front door three years ago.
Wednesday, he and his wife Sandra Alverson were expecting two Christmas gifts that they had purchased online to be delivered, but when they got home, one of them — delivered by Federal [...]
Microsoft earnings fall 22%; sales also down
Microsoft Corp. (NASDAQ:MSFT) on Thursday reported a fiscal first-quarter profit of $4.47 billion, or 53 cents a share, on revenue of $16 billion. During the same period a year ago, the software giant earned $5.74 billion, or 68 cents a share, on $17.37 billion in revenue. Analysts surveyed by FactSet had forecast Microsoft to earn 56 cents a share on $16.5 billion in sales for the [...]
October 18th, 2012
Following the trend of shipping company Fedex, the largest advertising venue in the world is showing signs of strain in a weakening global economy.
Google Inc., whose accounting firm mistakenly released their quarterly report prematurely, saw a 9% tumble in the share of their stock today after weaker than expected earnings.
“It’s not clear why Google’s results were posted in a regulatory filing early, but the weaker-than-expected top- and bottom-line figures [...]
One key measure of global economic health is how much freight – raw materials and manufactured goods – is being shipped around the world and in the United States. In July of this year the Balctic Dry Index, a measure of the price to pay for the movement of raw materials by sea, hit a record breaking low and signaled a steep decline in global manufacturing and consumption.
This was a [...]
7 global companies warn tough times ahead
Companies will soon close the books on the quarter, and if comments from Intel and FedEx are an accurate indication, profit warnings could figure prominently in their reports. Multinationals are facing stiffer economic headwinds than at the start of the year. The U.S. dollar has appreciated against the euro, nicking sales in a region that’s already reeling. And growth rates have slowed elsewhere. These worries extend [...]
Europe Goes Red, As S&P Whacks Growth Forecast
S&P has just whacked its growth forecast for Europe.
It now sees a contraction of 0.8% this year, and 0.0% growth next year.
European markets have gone red.
Italy’s benchmark FTSE MIB had been up slightly earlier in the day, but is now down 0.6%.
S&P says new recession hitting euro zone
Standard & Poor’s Rating Services on Tuesday pared down its economic forecast for the euro zone in [...]
Top analyst Rosenberg: Stock market earnings could be in big trouble
David Rosenberg’s latest contains some good insights on the current state of corporate earnings.
Rosenberg says earnings are far too optimistic and likely to be ratcheted down. It’s very early in earnings season, but this is a trend we’ve already noticed in some bellwether names like FedEx and Norfolk Southern.
Earnings expectations are far too optimistic and destined to come down.
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Welcome to Capital Account. Simpson-Bowles, Obama’s bipartisan deficit commission of 2010, has become a political football in the Presidential race. In attempts to score political points Mitt Romney, Paul Ryan, and Joe Biden have flung it around in recent speeches and interviews. We talk to Former Republican Senator and co-chair of the Simpson-Bowles commission, Alan Simpson about how he and his co-chair propose to fix the deficit.
Plus there [...]
CHART OF THE DAY: From today’s “Bloomberg Economics Brief,” Bloomberg economist Rich Yamarone releases a chart showing that FedEx’s total U.S. package shipments may indicate a bleak outlook for economic activity. Is a recession in the cards?
Bloomberg Economics Brief
For more information or to subscribe, visit www.bloomberg.com/brief
TODAY’S EXCERPT BELOW:
How Federal Express Package Shipments Relate to the Economy
Federal Express Cuts 2013 Profit Forecast on Economy, Fuel
FedEx Corp., an [...]
by Charles Hugh Smith
Online shopping is rippling through the economy, affecting not just retail but energy consumption and the job market.
Correspondent Marc A. responded to my recent entry Is Anybody Else Tired of Buying and Owning Stuff? (September 7, 2012) with an informed commentary on how online shopping is affecting the retail sector. The Web and online shopping is rippling through the economy, affecting not just retail but energy consumption and the job market.
by Phoenix Capital Research
Most of my recent analysis has pertained to Europe.
However, on the other side of the pond, the US economy is showing major signs of deterioration. The jobs data, even after the BLS massages it, is awful. Secondly, 1Q12 GDP estimates have been revised lower. We’ve also seen the two consecutive bad Philly Fed surveys, including the fact that the average workweek has shortened for two months now. [...]
Army First Lt. Augustine Kim’s finally got the Washington Metropolitan Police Department (MPD) to return his guns after two years — only to find them permanently damaged. The department violated its own regulations on handling firearms in evidence by engraving marks on the sides of the guns, and the city should reimburse the soldier for the loss.
The Afghanistan war veteran was wrongly arrested while lawfully transporting his firearms from New [...]
World Bank planned to be collection agency for CO2 tax
Paul Joseph Watson
Thursday, May 31, 2012
The Bilderberg Group plans to put the finishing touches to a global carbon tax agenda that is already in full swing, according to our inside sources, with the threat of endangered species set to replace man-made global warming as the main vehicle through which the elite’s post-industrial revolution is accomplished.
Alex Jones’ source inside Bilderberg [...]
I wouldn’t travel to Greece if I was Ms. LaGarde; she might find herself on the receiving end of the sort of animosity she has displayed for the Greek people…..
“I think they should also help themselves collectively,” Ms Lagarde said.
She added: “I think more of the little kids from a school in a little village in Niger who get teaching two hours a day, sharing one chair for three of [...]
General Motors has funneled more than $1 million to two powerhouse Democratic lobbyists since the taxpayers rescued the automaker in 2009.
GM teamed with Navigators Global and the Podesta Group beginning in 2010 and soon arranged six-figure contracts with lobbying teams headed by Democratic bundlers Vin Roberti and Tony Podesta. Each earned top nods from GQ’s Monthly Power List soon after inking the GM contracts.
Roberti has been the automaker’s highest paid lobbyist since [...]
After taking heat for shipping jobs to China and contracting to employers with questionable labor conditions, Apple (rather publicly) took credit for creating more than half a million jobs in the U.S.
514,000 to be exact.
That figure included nearly 50,000 employees in its retail network and its corporate headquarters, where products are designed.
But it also included FedEx and UPS employees who deliver its products and employees at Corning who make glass [...]
In this the USPS had to guarantee full health benefits for FUTURE retirees. That’s right, for people that are not even retired or working at the the USPS or even BORN YET!
“After generating modest profits from FY2004 through FY2006, the USPS lost $5.3 billion in FY2007, $2.8 billion in FY2008, and $3.8 billion in FY2009.27″
Gee… how could that happen?? No one could’ve seen that coming!?
So… again the gullable american public [...]
NEW YORK (CBSNewYork) — There’s a dog that took a bullet, possibly saving his owner’s life. And surprisingly, the 12-year-old pit bull shot in the head survived.
The pit bull named “Kilo” was off to the vet Wednesday for a check-up, after taking a bullet for his owner, Justin Becker.
“He’s a hero. He saved my life. He went to protect me and he did his job,” Becker told CBS 2?s John Slattery.
Even Dr. Greg [...]
FedEx is widely considered to be one of the best economic bellwethers there is.
And though the company beat on earnings, the company is falling nearly 2 percent in the pre-market.
On the call just now, the company says it will “reduce flight hours, and “park some planes” according to headlines on Bloomberg.
It also sees weakness in tech, mobile phones, finance, insurance, and real estate, and it also anticipates below-trend growth.
Republican presidential candidate Newt Gingrich rallied support from a crowd of about a hundred at Stephens Convention Center in Rosemont Wednesday afternoon, following losses in the Alabama and Mississippi primaries on Tuesday.
Gingrich told the crowd FedEx and UPS track 24 million packages a day, with no additional cost to customers.
“Now over here you have the federal government, the world that doesn’t work,” Gingrich said. “And the federal government today cannot [...]
NASHVILLE (AP) — Republican presidential candidate Newt Gingrich on Monday slammed rival Rick Santorum as a “big labor Republican,” accusing him of siding with unions over Memphis-based FedEx when the Senate grappled with a labor dispute in the 1990s.
Gingrich, the former Georgia congressman and House Speaker, is hoping to revive his struggling campaign in the South, and he tailored his message Monday to Republican voters in Tennessee. Although polls show [...]