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September 27, 2011

Missouri wins $20M job training grant

Filed under: investors, management — Tags: , , , — ManInBlack @ 5:28 pm

Missouri’s community colleges have received a federal grant to train unemployed workers for health care jobs.

Officials say MoHealthWINS, fueled by a $20 million federal grant, will educate 4,600 people through the state’s 12 community colleges and Linn State Technical College. The program was announced Monday by Gov. Jay Nixon, who said it would specifically target unemployed adults seeking new careers.

The funding is provided through a grant program offered by the U.S. Department of Labor.

Among the jobs that would be targeted are certified nursing aide, licensed practical nurse, phlebotomist, pharmacy technician and medical lab technician.

Nixon supported the grant proposal, saying it would offer the state another way to boost its percentage of residents with college degrees unsecured personal loans. Following a similar national goal, Nixon is hoping to push the percentage of state residents with a degree to 60 percent from 37 percent by 2020.

It is unclear how the money will be divided among the various schools.

In the grant proposal, St. Louis Community College said it would use the money to support career counselors and boot camps.

St. Charles Community College said it would train students to work as technicians in several areas, including radiological, medical lab and hearing aid specialization.

Source

July 16, 2011

Bulletin Board

Filed under: finance, management — Tags: , , , — ManInBlack @ 12:08 pm

AWARDS

Chesterfield-based Hexagrid announced that its flagship product, VxDatacenter, won the 2011 Cloud Computing World Series Award for best virtualization product.

Hazelwood-based Household Essentials LLC received a Gold Winner award from the 23rd DuPont Awards for Packaging Innovation for the company’s environmentally friendly ironing board cover and pad packaging.

GETTING BETTER

Clayco Inc. now holds the No. 52 position among the nation’s leading contractors and the No. 16 position among the nation’s leading design-builders in terms of revenue, according to the Engineering News-Record.

HELPING OUT

First Bank employees in Missouri and Illinois raised $12,151 for the American Heart Association during a recent Heart Walk campaign.

Auffenberg Ford in Belleville in cooperation with Belleville West High School raised $7,230 for the school’s cheer and dance club at a test-drive event.

MILESTONE

St. Louis-based Daniel And Henry Co. insurance agency is celebrating its 90th anniversary.

NEW BUSINESS

Citizens National Bank of Greater St. Louis and Beyond Housing have partnered in developing a community mortgage product to serve low- to moderate- income clients in the city of St. Louis who have limited or no credit history.

TGA Premier Junior Golf, a national after-school enrichment junior golf program, started a new program in St. Charles County, headed by business partners Valeria Williams, Shirley Colvard and Ivan Mickens.

OPENING

Tumi opened a store at Plaza Frontenac.

86 Plaza Frontenac

Frontenac, Mo. 63131

314-432-2360

RECOGNITION

Steven Harris, a certified public accountant and partner in RubinBrown’s assurance services group, was named a Young Professional of the Year by the Urban League Young Professionals of St. Louis.

Midwest Breast Care Center, a St. Luke’s Hospital’s Center for Diagnostic Imaging affiliated center, was designated a Breast Imaging Center of Excellence by the American College of Radiology.

Mosby Building Arts was ranked as the top remodeling company in St. Louis, according to Professional Remodeler magazine’s Market Leaders poll.

Jeffrey L. Zelms, retired former CEO of the Doe Run Co., is among the 2011 inductees into the National Mining Hall of Fame and Museum at Leadville, Colo.

The American Red Cross recognized Jefferson Regional Medical Center in Crystal City for a fourth consecutive year as a Gold Level recipient for hosting six blood drives throughout the year. The Red Cross also recognized Christian Hospital for holding blood drives leading to the hospital reaching Gold Level status.

John Qualy, managing partner with Northwestern Mutual Financial Network, The Qualy Group in St. Louis, received two proclamations from state officials for his work with Scramble for Kids, a charitable organization that raises money for local children’s hospitals.

SCI Engineering Inc. was recognized by the American Concrete Pavement Association and the Missouri Department of Transportation for the best Portland Cement Concrete Parking Area Project completed in Missouri in 2010 for the company’s high quality testing on the Fort Zumwalt South High School Parking Lot project in St. Peters.

Source

July 13, 2011

Stocks slip as Europe’s debt problems loom

Filed under: Canada, management — Tags: , , , — ManInBlack @ 5:52 am

Stocks are opening slightly lower for the third straight day as investors weigh the prospect that Italy, Europe’s third-largest economy, could be the next country unable to meet its debt obligations. Spain, Europe’s fourth-largest economy, also faces a budget crisis.

Government bond yields for Italy and Spain have shot up as investors lose confidence in the quality of their debt.

Meanwhile, international lenders have not yet confirmed terms for a financial rescue package for Greece no fax pay day loan. That reignited concerns that Greece could default.

The Dow Jones industrial average is down 6 points, or less than one percent, at 12,499 in early trading. The Standard & Poor’s 500 index is down 2, or 0.2 percent, at 1,317. The Nasdaq composite is down 4, or 0.4 percent, at 2,792.

Source

July 1, 2011

Factories busier in June after spring slump

Filed under: Uncategorized, management — Tags: , , , — ManInBlack @ 10:52 pm

Factory activity picked up in June after a sluggish May, helped by lower gas prices and some easing of supply disruptions.

The Institute for Supply Management, a trade group of purchasing executives, said Friday that its index of manufacturing activity rose to 55.3. The sector has now grown for 23 straight months. Last month’s growth was the slowest in 20 months.

The stronger reading was an optimistic sign that the economy could be strengthening after a spring slump.

Stocks jumped after the report was released. The Dow Jones industrial average rose 152 points in midday trading, and broader indexes also rose.

“This is additional evidence that the recent slowdown in economic activity was temporary,” said Steven Wood, chief economist for Insight Economists. “However, the strength of the recovery is an open question given other factors.”

A reading above 50 indicates that the manufacturing sector is expanding. Still, growth was muted from earlier this year, when the index topped 60 for four straight months. And other areas of the economy remain weak, such as housing and job growth.

Construction spending declined in May to a seasonally adjusted pace of roughly $758 billion, the Commerce Department said Friday. Budget cuts at the state and local level led to a sharp drop in government spending. And home builders cut spending again, chiefly on apartment projects.

Overall, construction spending was barely above an 11-year low hit in February. And it is roughly half the $1.5 trillion pace considered healthy by most economists. Analysts say it could be another four years before construction returns to healthier levels.

The economy grew only 1.9 percent in the January-March period, the government said last week. Most economists predict growth to be similarly weak in the current April-June period.

But gas prices are falling. The average price per gallon was $3.55 on Friday. That’s down from nearly $4 per gallon in early May.

Cheaper gas should allow consumers to eat out more often and spend more on discretionary purchases, such as furniture and appliances. Consumer spending makes up 70 percent of economic activity.

And the impact of a parts shortage stemming from the March 11th Japan earthquake appears to be easing. All three U.S. automakers on Friday reported stronger sales in June after a slump in May.

The ISM report gives investors some hope that growth will be stronger in the second half of the year, said IHS Global Insight economist Nigel Gault.

There were slightly more new orders for goods in June, and employment picked up. Manufacturers are adding to their stockpiles again.

Economists are also counting on a recovery in auto production to boost second half growth. Deutsche Bank economists estimate that improved auto manufacturing could add as much as a full percentage point to third and fourth quarter growth.

Some signs from abroad are troubling, too. Chinese manufacturing slipped to its slowest pace in 28 months in June, dragged down by rising interest rates and declining exports, according to surveys released Friday in China.

That suggests problems in the U.S. The factory sector has been the primary driver of the recovery, growing now for 23 straight months. And strong growth overseas has been a key part of that growth for large manufacturers of industrial equipment and machinery, such as Caterpillar Inc.

The ISM, a trade group of purchasing executives based in Tempe, Ariz., compiles its manufacturing index by surveying about 300 purchasing executives across the country.

Source

June 16, 2011

Rising popularity of prepaid debit cards belies problems

Filed under: legal, management — Tags: , , , — ManInBlack @ 1:22 pm

Rising fees have chased millions of people away from banks and into prepaid debit cards.

In just a handful of years, prepaid cards have become the fastest growing payment method in the U.S. Just this week, American Express became the first mainstream financial company to offer a prepaid card.

But the cards have problems of their own. Complex fee schedules. Few of the protections afforded to bank and credit card customers. No ability to build credit history.

Consumer advocates are raising concerns and demanding more oversight, and at least one state is investigating prepaid card issuers. The Consumer Financial Protection Bureau is expected to step up oversight of the industry when it launches in July free credit report and score.

“People are using prepaid cards as checking accounts and the government ought to regulate it similarly,” says Suzanne Martindale, staff attorney for Consumers Union, a nonprofit advocacy group that is concerned about unfair prepaid card fees.

Even so, Americans spent $140 billion using prepaid cards in 2009, according to the latest data available from the Federal Reserve. That’s a 21.5 percent increase each year over four years. The amount of money loaded onto the cards is expected to reach $552 billion in 2012 from $330 million three years ago, according to the Mercator Advisory Group, a research firm.

Prepaid cards have gone mainstream by catering to the ranks of the unbanked

June 5, 2011

Luukko: Cautious investors might like these income-generating ETFs

Filed under: management, uk — Tags: , , , — ManInBlack @ 4:13 am

There have been a flurry of exchange-traded funds launched this year that employ covered calls, including four that began trading on the Toronto Stock Exchange over the past week. Covered calls are options that are written against all or some of the stock holdings, generating capital gains while changing the funds

May 24, 2011

UN opens probe into Japan’s crippled nuke plant

Filed under: Uncategorized, management — Tags: , , , — ManInBlack @ 7:52 pm

A major international mission to investigate Japan’s flooded, radiation-leaking nuclear complex opened Tuesday as new information emerged on just how serious the crisis was in the early days after the March 11 tsunami.

The team of U.N. nuclear experts met with Japanese officials and were to inspect the Fukushima Dai-ichi plant in coming days to investigate the worst nuclear accident since Chernobyl in 1986 and assess efforts to stabilize the complex by Tokyo’s self-declared deadline of early next year.

The Japanese government, which has pledged to cooperate with the experts from the Vienna-based International Atomic Energy Agency, also announced its own probe into the crisis, appointing a Tokyo academic to head an investigative panel.

The plant operator, Tokyo Electric Power Co., released new analysis suggesting that fuel rods in the plant’s Units 2 and 3 mostly melted during the early days of the crisis, which had been suspected but could not be confirmed and which suggests the severity of the accident was greater than officials have acknowledged.

TEPCO announced similar findings last week about Unit 1.

Fuel in three of the plant’s six reactors started melting after the March 11 tsunami knocked out cooling systems, prompting huge releases of radiation into the atmosphere. The plant is still leaking, but at much lower levels than immediately after the accident, and Japanese officials hope to bring the entire plant into “cold shutdown” _ halting all radioactive leaks _ by January at the latest.

In the meantime, 80,000 people remain evacuated from homes around the plant. Many are living in school gymnasiums, uncertain of when they will be able to return. A handful of stalwarts have defied government orders and refused to leave.

“TEPCO caused such a horrible disaster. Leaving my home means I have lost to TEPCO,” said Naoto Matsumura, a 51-year-old rice and vegetable farmer who has stayed at his home despite radiation concerns and a lack of electricity and running water.

“Certainly, the life is not comfortable at all,” he said payday loan. “But I will not give up.”

Violators of a 12-mile (20-kilometer) exclusion zone could face fines up to 100,000 yen ($1,200) or detention of 30 days, but no officials have moved to arrest him.

The IAEA team conferred Tuesday with Japan’s trade minister, whose ministry oversees the nuclear industry, and will visit Japan through June 2 before reporting to an international conference in Vienna on June 20.

Michael Weightman, leader of the IAEA team, said he hoped the world soon “can start learning the lessons from the information we gather.”

Goshi Hosono, director of the Japanese government’s nuclear crisis task force, said the IAEA team submitted a “long list” of questions.

“We will do our best to answer their questions,” Hosono said.

The government also said it was appointing University of Tokyo professor Yotaro Hatamura, an expert on industrial and other accidents, to head a panel of outside experts to investigate the Fukushima accident.

The crisis has raised serious questions about the lax oversight of Japan’s nuclear industry and prompted the country to scrap plans to rely on nuclear power for one half its electricity needs _ up from its current one third.

The quake and tsunami, which left 24,000 people dead or missing, also damaged farms, ports and hundreds of suppliers, helping to push Japan’s economy back into recession.

A clearer picture of the extent of damage at the plant emerged Tuesday after an analysis of data from Units 2 and 3 suggested that fuel rods in those two cores had almost certainly mostly melted as well.

“We have analyzed data, which showed that it was highly likely that most of the fuel rods have melted. But it is unlikely that melting fuel rods could worsen the crisis because the melted fuels are covered in water,” said Takeo Iwamoto, a company spokesman.

Source

May 16, 2011

Lowe’s 1Q net income falls partly on bad weather

Filed under: economics, management — Tags: , , , — ManInBlack @ 4:59 pm

Lowe’s Cos.’ first-quarter net income fell 6 percent, pressured in part by bad weather and difficult economic conditions.

The Mooresville, N.C., home improvement retailer also cut its full-year outlook on Monday.

Lowe’s earned $461 million, or 34 cents per share, for the three months ended April 29. That’s down from $489 million, or 34 cents per share, a year earlier.

Revenue dipped 2 percent to $12.19 billion.

Analysts expected earnings of 36 cents per share on revenue of $12.54 billion.

For the full year, Lowe’s now expects earnings of $1.56 to $1.64 per share and an approximately 4 percent revenue increase. It previously forecast earnings of $1.60 to $1.72 per share on a 5 percent revenue rise.

Analysts predict full-year earnings of $1.70 per share on revenue of $50.9 billion.

Source

April 20, 2011

Advance in U.S. Existing-Home Sales Probably Failed to Recover Lost Ground - Bloomberg

Filed under: management, money — Tags: , , , — ManInBlack @ 6:38 pm

A gain in U.S. sales of existing homes during March probably failed to make up for a drop the previous month, a sign that the housing market is struggling to rebound, economists said before a report today.

Purchases rose 2.5 percent to a 5 million annual rate after dropping 9.6 percent in February, according to the median forecast of 74 economists surveyed by Bloomberg News. Sales in January of existing homes, which make up 90 percent of the market, climbed to the highest level in eight months as buyers used all-cash transactions to obtain distressed properties.

Housing may remain a weak link in the economic recovery that began in June 2009 as unemployment, falling property values and stricter loan rules push foreclosures to record levels. At the same time, a drop in prices has made houses more affordable, a sign demand may not fall much more.

“We’re on a recovery track, it’s just going to be slower than we would all like,” said Robert Dye, a senior economist at PNC Financial Services Group Inc. in Pittsburgh. “Credit constraints are working against home sales right now. By the end of this year, we’ll start to feel like we’ve turned a corner.”

The National Association of Realtors’ data are due at 10 a.m. in Washington. Economists’ estimates ranged from 4.59 million to 5.4 million.

The figures would underscore the Federal Reserve’s view that the housing market “continues to be depressed” even as the rest of the economy improves.

Median Price

The drop in purchases in February sent the median price of existing homes to the lowest level since 2002. Distressed properties accounted for 39 percent of sales, and the share of all cash transactions was 33 percent, the highest since at least August 2008, when the agents’ group began tracking the monthly figure.

CoreLogic Inc. last month estimated that about 1.8 million homes were delinquent or in foreclosure, a so-called “shadow inventory” set to add to the 3.5 million existing homes already on the market.

A glut of unsold properties may push prices down further, a disincentive for homebuilders to break ground on new homes.

A report from the Commerce Department yesterday showed builders began work on 549,000 houses at an annual rate in March, up from 512,000 the previous month. The increase followed a 19 percent plunge in February that was the biggest drop since 1984.

Homebuilders have underperformed the broader stock market. The Standard & Poor’s Supercomposite Homebuilder Index has gained 3.6 percent so far this year, compared with a 4.4 percent increase for the broader S&P 500 Index. (SPX)

Builder Loss

KB Home (KBH), the Los Angeles-based homebuilder that targets first-time buyers, this month reported a bigger-than-expected loss for the quarter ended Feb. 28 as orders plunged.

“We do not anticipate a net profit for 2011,” Chief Executive Officer Jeffrey Mezger said during a conference call with analysts on April 5 pay day loans. “The economy is continuing to improve. Even so, this recovery has yet to include significant job growth and has not spilled over into housing.”

Builders overall are not optimistic. The National Association of Home Builders’ confidence fell to 16 this month, according to the group’s gauge released this week. A reading under 50 means a majority of builders view conditions as poor.

Bloomberg Survey ================================================================ Exist Exist Homes Homes Mlns MOM% ================================================================ Date of Release 04/20 04/20 Observation Period March March —————————————————————- Median 5.00 2.5% Average 5.01 2.6% High Forecast 5.40 10.7% Low Forecast 4.59 -5.9% Number of Participants 74 74 Previous 4.88 -9.6% —————————————————————- 4CAST Ltd. 5.05 3.5% ABN Amro Inc. 5.03 3.0% Action Economics 5.05 3.5% Aletti Gestielle SGR 5.00 2.5% Ameriprise Financial Inc 4.95 1.4% Banesto 5.40 10.7% Bank of Tokyo- Mitsubishi 4.95 1.4% Barclays Capital 5.05 3.5% BBVA 4.95 1.4% BMO Capital Markets 4.98 2.1% BNP Paribas 5.00 2.5% BofA Merrill Lynch Resear 5.00 2.5% Briefing.com 5.15 5.5% Capital Economics 5.00 2.5% CIBC World Markets 5.00 2.5% Citi 5.00 2.5% ClearView Economics 5.00 2.5% Commerzbank AG 5.00 2.5% Credit Agricole CIB 5.10 4.5% Credit Suisse 4.86 -0.4% Daiwa Securities America 4.75 -2.7% Danske Bank 5.00 2.5% DekaBank 5.00 2.5% Desjardins Group 5.05 3.5% Deutsche Bank Securities 5.00 2.5% Fact & Opinion Economics 5.00 2.5% First Trust Advisors 5.01 2.7% FTN Financial 5.00 2.5% Goldman, Sachs & Co. 4.59 -5.9% Helaba 5.00 2.5% HSBC Markets 5.10 4.5% Hugh Johnson Advisors 5.20 6.6% IDEAglobal 5.10 4.5% IHS Global Insight 4.93 1.0% Informa Global Markets 5.05 3.5% ING Financial Markets 5.00 2.5% Insight Economics 5.10 4.5% Intesa-SanPaulo 5.10 4.5% J.P. Morgan Chase 4.95 1.4% Janney Montgomery Scott L 4.96 1.6% Jefferies & Co. 5.15 5.5% Landesbank Berlin 5.00 2.5% Landesbank BW 5.03 3.1% Manulife Asset Management 4.95 1.4% Maria Fiorini Ramirez Inc 5.00 2.5% MET Capital Advisors 5.00 2.5% MF Global 4.93 1.0% Moody’s Analytics 5.08 4.1% Morgan Stanley & Co. 5.20 6.6% National Bank Financial 4.99 2.3% Natixis 4.98 2.1% Nomura Securities Intl. 5.00 2.5% OSK Group/DMG 4.95 1.4% Parthenon Group 4.88 0.0% Pierpont Securities LLC 5.00 2.5% PineBridge Investments 5.10 4.5% PNC Bank 5.00 2.5% Raiffeisenbank Internatio 5.00 2.5% Raymond James 5.00 2.5% RBC Capital Markets 4.80 -1.6% RBS Securities Inc. 5.15 5.5% Scotia Capital 5.10 4.5% Societe Generale 5.07 3.9% Standard Chartered 4.64 -5.0% State Street Global Marke 5.07 3.9% Stone & McCarthy Research 5.10 4.5% TD Securities 4.95 1.4% UBS 5.00 2.4% UniCredit Research 5.00 2.5% University of Maryland 5.00 2.5% Wells Fargo & Co. 4.98 2.1% WestLB AG 5.00 2.5% Westpac Banking Co. 5.08 4.0% Wrightson ICAP 5.05 3.5% ================================================================

To contact the reporter on this story: Timothy R. Homan in Washington at thoman1@bloomberg.net

Source

April 19, 2011

Nissan to fix software glitch in electric car

Filed under: management, news — Tags: , , , — ManInBlack @ 3:41 am

Nissan says it will fix a software glitch on 5,300 Leaf electric cars worldwide.

The company says owners of a small number of Leafs have reported that the car won’t start after they’ve turned it off.

About 500 Leafs sold in the U.S. are affected.

Nissan says dealers will reprogram the engine control computer. Owners will get a message on their car’s dashboard telling them to contact their dealer and they’ll also get letters. Spokesman Brian Brockman says dealers may even send someone to the owners’ homes or workplaces to fix the problem cash advance in one hour.

The company says there is no safety issue with the cars because they will not stop when they are running.

The battery-powered Leaf can go up to 100 miles on a single charge.

Source

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