Keyword: profits

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  • United States: The Plan For The Future Of American Infrastructure

    02/17/2017 4:55:24 AM PST · by Tolerance Sucks Rocks · 2 replies
    Mondaq ^ | February 13, 2017 | Richard P. Puttré, Eric W. Sedlak, Kevin J. McIntyre, Isel M. Perez and James F. Channing
    A Look Into the Opaque Crystal Ball for Infrastructure Initiatives in the First 100 Days of the Trump Administration President Donald J. Trump's "America's Infrastructure First" plan is one of the Trump Administration's priorities during his first 100 days in office. Throughout the campaign, President Trump heralded his plan to build and restore highways, tunnels, airports, bridges, and water systems across America and promised a $1 trillion investment in the infrastructure sector over a 10-year period. Leaders from both parties acknowledge the nation's deteriorating infrastructure, and there have been expressions of support from both sides of the aisle for some...
  • Fossil fuel divestment crashes and burns in Vermont(DOH!)

    02/11/2017 7:56:02 AM PST · by rktman · 10 replies ^ | 2/10/2017 | Jazz Shaw
    The fossil fuel divestment boom has turned into a serious bust. Most recently we saw this at the University of Denver where the administration determined that the future health of their endowment was worth far more than any political points scored through satisfying the demands of some environmentalist students. We’ve seen this in a number of other schools but the trend is continuing in areas outside the academic realm. Even state governments have been forced by activists to take a look at the possibility of divestment. This most recently happened in Vermont where the state pension plan was considering similar...
  • Spinal Tap bandmates join lawsuit over film's profits

    02/08/2017 8:57:23 AM PST · by Olog-hai · 45 replies
    Associated Press ^ | Feb 8, 2017 11:06 AM EST
    Spinal Tap has reunited — this time in a Los Angeles court to challenge the French studio Vivendi S.A. for millions in profits from the mockumentary “This Is Spinal Tap.” Christopher Guest, Michael McKean and Rob Reiner on Tuesday joined a federal lawsuit filed last year by bandmate and Spinal Tap co-creator Harry Shearer. Shearer, who also voices numerous characters on “The Simpsons,” sued Vivendi S.A. and its subsidiary StudioCanal in October alleging that the companies fraudulently withheld profits from the 1984 film. …
  • Mylan’s EpiPen Pretax Profits 60% Higher Than Number Told to Congress

    09/26/2016 4:55:50 PM PDT · by wtd · 9 replies
    Wall Street Journal ^ | September 26, 2016 | Mark Maremont
    Mylan’s EpiPen Pretax Profits 60% Higher Than Number Told to CongressCompany applied 37.5% tax rate onto the profits it revealed to a House committee hearing last weekMylan CEO Heather Bresch takes her seat on Capitol Hill in Washington on Wednesday prior to testifying before the House Oversight Committee hearing on EpiPen price increases. Photo: Pablo Martinez Monsivais/Associated Press "> Mylan NV on Monday clarified the profit it said it made from its lifesaving EpiPen drug, days after House members badgered the company’s chief executive to justify the device’s steep price increases. Testifying before a congressional committee last week, CEO...
  • Are Oil Dividends Worth it?

    04/26/2016 2:32:38 PM PDT · by bananaman22 · 14 replies ^ | 26-04-2016 | Paperchaser
    Are you tempted by nice dividends such as BP’s 7.53 percent and Shell’s 7.31 percent? Long-term investors are. They’re lapping up the oil majors on dips to cash in on their impressive dividend yields in hopes that the massive rally in crude oil from the lows of $27.10 per barrel is an indication that crude has bottomed out and higher prices are around the corner. The large investors are pursuing the oil majors for their stability and safety, which has boosted their prices, but even after the rise, prices remain below their 2015 highs. The oil majors are expected to...
  • Low fuel costs boost Lufthansa profits

    03/17/2016 5:52:59 PM PDT · by Olog-hai
    Deutsche Welle ^ | 17.03.2016 | [ng/hg (Reuters, AFP)]
    Germany’s flag carrier Lufthansa posted a 55-percent jump in profits for 2015, benefiting from low oil prices. The result comes despite protracted industrial action by pilots and flight attendants throughout last year. Adjusted EBIT jumped by 55 percent to €1.8 billion ($2 billion) for the full year. Net profit came in at €1.7 billion, 30 times higher than in 2014. …
  • Why Wal-Mart's Shrinking Profit Should Scare Liberals

    10/17/2015 7:28:54 PM PDT · by SeekAndFind · 63 replies
    IBD ^ | 10/17/2015 | Jed Graham
    Wal-Mart's second profit warning in two months should be a wake-up call for the political left. If America's largest private employer is struggling with its own pay increases, how will other businesses cope with even larger minimum-wage hikes? Long the scourge of progressives for its relatively low wages, Wal-Mart (NYSE:WMT) announced early this year that it would unilaterally boost its own base wage, first to $9 an hour this past April and to $10 by February 2016. "People have known that $10 was coming for a while," Wal-Mart CEO Doug McMillon told CNBC's Jim Cramer on Wednesday. "This news today...
  • U.S. Has Highest Corporate Tax In World: Much to Learn From Ireland

    03/18/2015 2:05:42 PM PDT · by ThethoughtsofGreg · 7 replies
    American Legislator ^ | 3-18-15 | Ben Wilterdink
    While Saint Patrick’s Day gives people all over the world a reason to be Irish for a day, it might be better for the United States to move permanently ‘Irish’ when it comes to corporate income tax rates. The United States currently has the highest corporate income tax rate in the developed world at 35 percent federally, and reaches almost 40 percent once the average state corporate income tax rate is included. By contrast, Ireland maintains a top statutory rate of just 12.5 percent, less than a third of the top U.S. rate. This competitive, pro-growth corporate income tax rate...
  • Surging dollar takes bite out of US corporate profits

    02/20/2015 9:45:51 PM PST · by Olog-hai · 11 replies
    Associated Press ^ | Feb 21, 2015 12:06 AM EST | Matthew Craft
    The biggest obstacle for Coca-Cola and Pepsi these days isn’t tied to taste tests, the declining popularity of sugary drinks or even their century-long rivalry. It’s the surging U.S. dollar. The two soda giants rely on overseas customers for roughly half of their revenue. When they turned in their quarterly results last week, both reported a drop in sales. The strong dollar made all the difference: strip it out and shrinking sales suddenly rise. The dollar has been a source of constant complaint this earnings season. Global corporations from Avon Products to Yum Brands have said their quarterly results would...
  • Senator’s husband profits for 15 years from federal funds (Feinstein-Blum)

    01/19/2015 5:56:53 PM PST · by Libloather · 28 replies
    NY Post ^ | 1/19/15 | Richard Johnson
    My report Sunday on the lucrative deal Sen. Dianne Feinstein’s husband has to sell 56 post office buildings barely scratched the surface of her conflicts of interest. The California Democrat’s financier husband, Richard C. Blum, is estimated to be a billionaire from his shrewd investments in companies that profit from federal policies. “For at least 15 years, Feinstein has appeared to support government contracts that push federal funds toward companies co-owned or governed by her powerful, billionaire husband, Richard C. Blum,” Breitbart News reported.
  • Moms Demand Action Opens Online Store Selling Gun Control T-Shirts for Christmas

    11/29/2014 7:35:13 AM PST · by rktman · 20 replies ^ | 11/28/2014 | AWR Hawkins
    Bloomberg-funded Moms Demand Action for Gun Sense in America has launched an online store where they are selling gun control t-shirts for Christmas. The t-shirts--which are also affiliated with Bloomberg-funded Everytown for Gun Safety--have a likeness of an American flag and the caption: "Americans are 20 times more likely to be murdered with a gun than people in other developed countries." According to the online store index, the "20x more likely" shirt is $30, and this can be complimented with a "Future Gun Sense Voter" baby onesee for $24 or a classic white "Moms Demand Action" t-shirt for $26.
  • HuffPo Attacks Companies for Making Too Much Profit

    07/22/2014 3:33:01 PM PDT · by Kaslin · 48 replies ^ | July 22, 2014 | Michael Schaus
    The Huffington Post is beside itself with indignant rage over companies moving their headquarters overseas to avoid paying the highest corporate income tax in the industrialized world. Feeling that Secretary Jack Lew was onto something when he accused companies of being economic traitors for reducing their tax burden, the HuffPo let loose a string of economic illiterate ramblings about the indecency of corporate profits.Early last week, the drug firm Mylan stomped on the Stars and Stripes as it ditched America for the Netherlands. Then, on Friday, the drug company AbbVie similarly renounced America. For 30 pieces of silver, it will...
  • Hypocrisy Over Private Organizations 'Profiteering' Off Education System

    05/23/2014 8:25:29 AM PDT · by MichCapCon · 7 replies
    Capitol Confidential ^ | 5/22/2014 | Tom Gantert
    Michigan Education Association President Steve Cook does not like charter public schools and says he is concerned about how they are funded. "If we're going to be honest with ourselves for just a second, we have to acknowledge there is simply too many people and private corporations making too much money off the public schools with very little student learning to show for it," Cook told the State Board of Education, according to a story in MIRS. Cook's total compensation was $212,848 in 2013 as president of the MEA, a private organization with annual revenue of $133 million. The MEA,...
  • Minnesotans Score Small Victory in Civil Asset Forfeiture War

    05/18/2014 5:33:08 AM PDT · by Jack Hydrazine · 11 replies
    The New American ^ | 17MAY2014 | Bob Adelmann
    On August 1, citizens in Minnesota will rejoice that the police can no longer steal their property without their being convicted — or even charged with — a crime. Until then, Minnesota remains an upside-down world, as do many other states, where police can seize cash and property if they think that somehow that cash or property was involved in a crime. Until August 1, citizens who have had their property seized will still have to prove a negative: that their property was neither the “instrument” nor the “proceeds” of the charged crime. Lee McGrath, executive director of Minnesota’s chapter...
  • Great Lakes ice blocks flow of grain, iron

    05/02/2014 1:44:55 AM PDT · by prisoner6 · 29 replies
    Boatnerd ^ | 5/02/2014 | NA
    Great Lakes ice blocks flow of grain, iron 5/2 - The biggest ice cover on the Great Lakes in decades is backing up shipments of everything from Canadian grain to U.S. iron and steel in one of North America's most important economic regions. The frigid winter and cool spring have hurt companies like Cliffs Natural Resources Inc. and United States Steel Corp, and also hampered efforts to clear an unprecedented buildup of grain and oilseeds in Western Canada. The Great Lakes region accounts for nearly one third of combined Canadian and U.S. output, jobs and exports, according to a report...
  • Don't Assume Liberals Always Put Principles Before Profits

    03/28/2014 11:31:15 AM PDT · by Kaslin · 26 replies ^ | March 28, 2014 | Jonah Goldberg
    Leland Yee, a Democratic state senator and candidate for secretary of state in California, has been a longtime champion of gun control. This week he was arrested on numerous charges, including conspiracy to deal firearms without a license and conspiracy to illegally transport firearms. Yee, a prominent foe of assault weapons, allegedly took bribes to set up a meeting between an undercover agent and an international arms dealer to broker the sale of automatic weapons and shoulder-fired missiles. A lengthy FBI affidavit also describes Yee's ties to a Chinese triad and his desire to help out Islamist militants. In short,...
  • Smith & Wesson Can Still Defy the Odds

    12/10/2013 4:58:06 AM PST · by KeyLargo · 18 replies
    The Wall Street Journal ^ | Dec 10, 2013 | Spencer Jakab
    Ahead of the Tape Smith & Wesson Can Still Defy the Odds By Spencer Jakab Updated Dec. 10, 2013 12:17 a.m. ET America's largest gun maker will get some extra attention this week. Four days after it unveils fiscal second-quarter results on Tuesday, the nation will mark the anniversary of last December's school massacre in Newtown, Conn. The shooting's effect on Smith & Wesson Holding Corp.'s SWHC -0.08% financial fortunes shows how wrong the market's initial reaction was. The stock fell sharply as the grisly details of the rampage emerged, but it has bounced back by 58% since its trough...
  • Corporate Profits Decline: Time For A Celebration?

    09/01/2013 5:13:48 AM PDT · by Kaslin · 18 replies ^ | September 1, 2013 | Austin Hill
    “Corporate Profits Lose Steam.” That was the headline atop a recent Wall Street Journal article. For those that become indignant about highly successful and profitable corporations, this should be really great news – right? But nobody is celebrating. In fact, the sagging profits reports of the past several weeks are thought to be such a bad thing that some believe they have brought about the downward shifts on the stock market as of late (could it be that the business uncertainty caused by our U.S. government could be the problem on Wall Street instead?). Companies as diverse as Krispy...
  • Mining at ‘breaking point’ as investors flee - Gold Fields

    08/16/2013 5:56:18 AM PDT · by rellimpank · 10 replies
    Mineweb ^ | 16 aug 2013
    The mining industry is at a “breaking point” as calls from governments and workers for a greater cut of profits hasten an investor exodus, Gold Fields Ltd. said. “Governments in particular are seeing mining as a means of putting more into their central coffers,” Chief Executive Officer Nick Holland said today in a speech in Johannesburg. “A lot of it has come about because of the metal boom that we’ve seen.” The “equity model is at breaking point,” he said in an accompanying slide show. Australia, Namibia and Zimbabwe are among nations that have sought to expand their share of...
  • HHS on Health Insurers' Costs: 'Expenses Like Profits and Red Tape'

    06/20/2013 4:38:31 PM PDT · by Nachum · 4 replies
    Weekly Standard ^ | 6/20/13 | JERYL BIER
    The Department of Health and Human Services (HHS) put out a press release today promoting the savings to consumers from Obamacare in 2012. The department claims that the average consumer receiving a refund will get about $100 as a result of rules on how insurers must spend premium dollars. The press release contains the following curious characterization of ineligible expenses health insurers might incur: Created through the Affordable Care Act, the rule requires insurers to spend at least 80 cents of every premium dollar on patient care and quality improvement. If they spend a higher amount on other expenses like...
  • Profits! Hating Them When They’re High, And Panicking When They’re Low

    04/21/2013 6:22:11 AM PDT · by Kaslin · 3 replies ^ | April 21, 2013 | Austin Hill
    Breaking news: some of America’s largest corporations have begun to report declining profits. For those that are offended by highly profitable corporations, this should be really great news. But nobody is celebrating. In fact, the sagging profits reports are thought to be such a bad thing that some believe they sent the Dow sliding downward last week, for fear that a global recession has arrived. If profits are such a terrible thing, why aren’t we relieved by their decline? For the record, I have no idea whether or not a recession is eminent. And to the extent that economic activity...
  • HUSSMAN: Investors Don't Realize How Quickly All Of Their Recent Profits Could Get Destroyed

    12/24/2012 6:47:16 AM PST · by blam · 2 replies
    TBI ^ | 12-24-2012 | Joe Weisenthal
    HUSSMAN: Investors Don't Realize How Quickly All Of Their Recent Profits Could Get Destroyed Joe WeisenthalDec. 24, 2012, 7:05 AM In his latest weekly note, John Hussman is very bearish and he blasts the Fed for not correctly fixing the economy. This is very standard for him. One interesting observation regards the fragility of investor gains: The stock market is only a few percent from its 6-month high at present, and even an overextended move to about 1490 would put the S&P 500 at its upper Bollinger band (two standard deviations above the 20-period moving average) on daily, weekly and...
  • Only Three Smartphone Companies Are Profitable

    11/14/2012 7:33:38 AM PST · by SeekAndFind · 10 replies
    Business Insider ^ | 11/13/2012 | Jay Yarrow
    Interesting tweet from analyst Horace Dediu, "Apple's share of operating profits from global mobile phones dropped to 60% in Q3. Samsung now at 39%. HTC 1%. No other companies profitable." A couple of thoughts on this: How is this sustainable for all the other phone makers? What happens to Motorola, RIM, Nokia, LG, et al.? Do they go away? If they go under what happens to Android? If you're wondering why Google is trying to save Motorola, this could be a clue. It doesn't want to be held hostage by Samsung, the only smartphone maker that's profitable. What happens to...
  • Traditional values pay: Chick-fil-A makes record-breaking profits after marriage controversy

    10/28/2012 10:02:19 PM PDT · by ReformationFan · 17 replies
    LifeSite News ^ | 10-26-12 | Kirsten Andersen
    Chick-fil-A has learned upholding traditional values is not just good for the soul; it’s also good for business. Since President Dan Cathy stirred up a firestorm of controversy and protests by daring to say in public that he supports traditional marriage, the fast food chain has enjoyed record sales and increased brand recognition. According to a report by USA Today, consumer use, visits, and ad awareness all rose measurably in the third quarter, despite widespread negative media coverage of Cathy’s remarks to the Baptist Press opposing same-sex “marriage.” A Sandelman and Associates survey of more than 30,000 fast-food shoppers in...
  • EDITORIAL: The District’s latest scamera swindle

    10/20/2012 5:14:53 PM PDT · by Tolerance Sucks Rocks · 13 replies
    The Washington Times ^ | October 19, 2012 | The Washington Times
    The D.C. Council is poised to lower the cost of speed camera tickets from a maximum of $250 to just $50. The plan unveiled on Tuesday is meant to create the impression that the District has seen the light and has finally decided to go easier on motorists. Considering the source of the latest plan, that’s hardly likely. The District and the for-profit vendor in charge of the robotic cameras dish out more tickets in a year than the city has residents. This has created a pile of loot so lofty that it’s only a matter of time before it...
  • Franchisors warn Obamacare will halve profits

    09/13/2012 2:33:05 PM PDT · by Perdogg · 16 replies
    The International Franchise Association held a convention in Washington this week where most of the Radio Shack, Dunkin Donuts, Curves and other franchisers were grumbling about new federal regulations, especially the impact of Obamacare. Most, said Atlanta Taco Bell and Kentucky Fried Chicken franchiser David Barr, presumed that the reports about how hard Obamacare will hit them were overblown. "They had their head in the sand," he told Secrets
  • Governor Mark Dayton says anti-tax attitude is killing progress

    09/13/2012 5:50:09 AM PDT · by TurboZamboni · 50 replies
    pioneer press ^ | 9-13-12 | billy salisbury
    Count on Minnesota Gov. Mark Dayton to swim against the tide. As Republicans call for tax cuts and few Democrats advocate more government spending, Dayton says we need to pay higher taxes to meet public needs. "This unwillingness to pay taxes ... is going to be the death of this country if it's not corrected," the Democratic governor said Wednesday, Sept. 12, in a speech at the University of Minnesota's Humphrey School of Public Affairs. A leading Republican tax policymaker quickly pounced on Dayton's statement, saying tax increases would drive jobs out of Minnesota. "It's not that we're taxing too...
  • Democrats: Let's Ban Profits!

    09/06/2012 11:41:31 AM PDT · by Free ThinkerNY · 115 replies ^ | Sept. 5, 2012 | SchiffReport
    Peter Schiff speaks to mainstream DNC delegates who want to see a cap or ban on corporate profits.
  • Convention Democrats tell Peter Schiff "Let's Ban Profits!" (Video)

    09/05/2012 11:43:41 PM PDT · by ExxonPatrolUs · 13 replies
    Schiff Report ^ | 9/5/2012 | Peter Schiff
    Posing as an anti-business crusader, Peter Schiff found a number of DNC delegates and attendees who support explicitly outlawing profitability.
  • The 2012 Version of the Little Red Hen

    07/13/2012 8:01:11 AM PDT · by Kaslin · 5 replies ^ | July 13, 2012 | Daniel J. Mitchell
    In previous posts, I’ve shared the PC version of the story about the ant and the grasshopper, as well as the modern fable about bureaucracy, featuring an ant and a lion. And I’ve also posted a revised version of Green Eggs and Ham. Now we have a nursery rhyme about the little red hen. But not the old-fashioned version. Here’s the modernized version the President reads to his kids.=====================================================“Who will help me plant my wheat?” asked the little red hen.“Not I,” said the cow.“Not I,” said the duck.“Not I,” said the pig.“Not I,” said the goose.“Then I will do it...
  • Apple, the tax-dodger? We certainly hope so. You should too.

    04/30/2012 12:05:13 PM PDT · by Mark Landsbaum · 5 replies
    he New York Times disapprovingly writes that Apple avoids billions of dollars in taxes each year. And this is a bad thing? The New York Times reported Apple “paid cash taxes of $3.3 billion around the world on its reported profits of $34.2 billion last year, a tax rate of 9.8%. . . .
  • Profits Have Stalled. Has the Market?

    04/16/2012 10:42:21 AM PDT · by Son House · 8 replies
    New York Times ^ | April 14, 2012 | By PAUL J. LIM
    The problem is that earnings growth has ground almost to a halt — profits for companies in the S.& P. 500 are expected to grow just 1 percent in the first quarter and 2 percent in the second. That means that the only real hope for additional stock market gains this year is expansion in the P/E ratio, which may be bumping up against a ceiling. “We already got a year’s worth of returns in just three months,” says Mark D. Luschini, chief investment strategist at Janney Montgomery Scott, referring to the first-quarter gain of 13 percent in the S.&...
  • Big Oil Profits Aren’t Excessive — The Left's Rhetoric Is

    04/04/2012 4:21:59 AM PDT · by SeekAndFind · 39 replies
    IBD ^ | 04/04/2012
    One of the most effective arguments used against the oil industry is that it earns "excessive" profits that must be taxed away. But as with the rest of the left's failed energy agenda, it's based on pure falsehoods. With prices for crude above $100 a barrel, it's no surprise the news media are fixated on oil companies' "record profits." Predictably, Democrats and others on the left use rising profits to bludgeon "Big Oil" and push more subsidies for money-losing "green energy" schemes while working to raise taxes and kill subsidies for oil. "When the price of oil goes up, prices...
  • What am I paying for in the price of a gallon of gasoline?

    01/29/2012 9:11:53 AM PST · by w4women · 27 replies
    Exxon Mobile Perspectives ^ | January 27, 2012 | Ken Cohen
    I’m asked this question a lot. And I know a lot of drivers ask themselves this question when they pull up to the pump. The answer is based on the economics of supply and demand and how products are manufactured and sold – along with what the government takes in taxes. Let’s take a look, based on the U.S. Energy Information Administration’s breakdown of the estimated average price of a gallon of gas in December 2011, which was $3.27.
  • Clinton surpasses $75 million in speech income after lucrative 2010

    01/24/2012 8:31:58 AM PST · by Nachum · 18 replies
    cnn ^ | 1/24/12 | Robert Yoon
    Washington (CNN) - Former president Bill Clinton enjoyed his most lucrative year ever on the speaking circuit in 2010, capping a decade of paid speaking events that has earned him $75.6 million since leaving office in 2001, according to a CNN analysis of federal financial records. Clinton received $10.7 million for 52 paid speaking engagements last year, a sizable increase from the 36 paid speeches he delivered in 2009 for a total of $7.5 million. The most the former president had previously earned in one year was in 2006 when he earned $10.2 million for 57 events. His 2010 speaking...
  • Dems propose 'Reasonable Profits Board' to regulate oil company profits

    01/20/2012 2:23:36 PM PST · by tom h · 80 replies · 2+ views
    The Hill ^ | 01/19/12 | Pete Kasperowicz
    Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits. The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit. The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100...
  • Obamanomics: Corporate Profits Up 68%, Wages Fall 5%

    11/22/2011 7:23:14 AM PST · by Slyscribe · 21 replies
    Investor's Business Daily ^ | 11/22/2011 | John Merline
    According to an IBD review of various economic data, while corporations and Wall Street investors have made significant gains under Obama's economic leadership, average Americans have seen their fortunes steadily decline. Since the start of the Obama administration, corporate profits have climbed 68%, and are now 19% above their pre-recession peak, according to the latest Commerce Department data out Tuesday morning.
  • CBO Says Obama’s “Stimulus” Spending Actually Cost Jobs

    11/19/2011 2:38:16 PM PST · by John Semmens · 16 replies
    Economist Doug Elmendorf, head of the Congressional Budget Office, testified before the Senate Budget Committee that President Obama’s $800 billion “stimulus” package reduced rather than increased employment. “The elemental truth of the matter is that putting money into ventures that generate losses, as was the case for the bulk of the so-called stimulus spending, reduces the resources available to society,” Elmendorf explained. “As resources are reduced there is less economic growth and less demand for workers.” The CBO’s analysis was challenged by Treasury Secretary Timothy Geithner. “The fact is, we put money into businesses that the private sector spurned,” Geithner...
  • Wall Street Made More Money In 2.5 Years of Obama Than 8 Years of Bush…

    11/07/2011 8:55:35 AM PST · by tcrlaf · 23 replies
    WeaselZippers ^ | 11-7-11 | ZIP
    Occupiers last seen scratching their heads in disbelief (or possibly because of the lice infestation). Mika Brzezinski, MSNBC’s “Morning Joe”: “New government data shows profits for America’s largest financial firms are once again reaching record highs not seen sense before the financial crisis of 2008. In fact, Wall Street firms have earned more in the first two and a half years of the Obama presidency than all 8 years of the Bush presidency. Over 85 billion dollars in profits compared to 77 billion.” Joe Scarborough: “Wait — you mean in the first two years they made more than in eight...
  • Brace for profit forecasts to be reeled in

    09/06/2011 9:25:16 AM PDT · by Signalman · 2 replies
    CNN Money ^ | 9/6/2011 | Ken Sweet
    NEW YORK (CNNMoney) -- Corporate America's strong earnings have been pushing stocks higher for more than two years now, but there are early signs that the momentum many companies have had in this miserable economy is beginning to fade away. Seventy six companies in the S&P 500 have issued warnings that third-quarter earnings were going to be lower than previously expected, according to data compiled from Thomson Reuters. That's up modestly from the same period a year ago. Meanwhile, stocks have fallen to levels where Wall Street is pricing in little-to-no earnings growth for the rest of the year. The...
  • Washington Post's profits dive by 50%

    08/05/2011 7:15:53 PM PDT · by Nachum · 46 replies
    Guardian ^ | 8/5/11 | Mark Sweney
    The Washington Post has reported a 50% plunge in profits for the second quarter of 2011, as advertising revenue at its print and online businesses suffered double-digit declines. The Washington Post Company, which is quoted on the New York Stock Exchange, also reported that its education unit, Kaplan, had a tough quarter, with operating income plunging 82% to $20.5m and revenues falling 15% to $628.7m. Overall profits at the Washington Post Company for the three months to the end of June were $45.6m, a 50% decline on the $91.9m the company reported in the same period last year.
  • Larry Kudlow: Strong Profits Suggest No Double Dip Recession

    08/04/2011 8:31:21 AM PDT · by SeekAndFind · 8 replies
    Real Clear Markets ^ | 08/04/2011 | Larry Kudlow
    Stocks and bond yields are sinking as Wall Street disses the debt deal and instead focuses on a likely double-dip recession. Everyone is gloomy. But is this pessimism getting a little overbaked? Granted, the economy is sputtering, with less than 1 percent growth in the first half of the year. But if there is a recession in the cards, it will be the first time one occurs when the yield curve is steeply positive (an ultra-easy Fed) and corporate profits are strong. And since we do have ultra-easy money and strong profits, I don't believe we're heading into a recession....
  • Wal-Mart Surges Abroad, Slumps at Home

    07/04/2011 12:36:58 PM PDT · by villagerjoel · 16 replies
    USBC News ^ | 06/31/2011 | The USBC News Wire
    Wal-Mart has seen growth of 4.4% in revenue resulting in net income growth of 3% in its world-wide operations, thanks particularily to successes in Mexico, China and Chile. However, corporate growth has been pulled down by its US operations, which have seen sales drop by 1.1% in the same period. Despite good news in its world wide operations, the drop in US sales remains a cause for concern since 62% of the retailer's revenue come from US shoppers. Although the economy within the US, especially rising gasoline prices, have hurt the retailer's domestic growth, that doesn't completely explain Wal-Mart's troubles....
  • Profits Are Booming. Why Aren’t Jobs?

    05/31/2011 7:05:20 PM PDT · by khnyny · 467 replies
    New York Times ^ | January 8, 2011 | Michael Powell
    To gaze upon the world of American corporations is to see a sunny place of terrific profits and princely bonuses. American businesses reported that third-quarter profits in 2010 rose at an annual rate of $1.659 trillion, the steepest annual surge since officials began tracking such matters 60 years ago. It was the seventh consecutive quarter in which corporate profits climbed. Staring at such balance sheets, you might almost forget that much of the nation lives under slate-gray fiscal skies, a place of 9.4 percent unemployment and record levels of foreclosures and indebtedness. And therein lies the enduring mystery of this...
  • How to Go to Congress and Become a Millionaire

    05/26/2011 2:33:40 AM PDT · by Kaslin · 23 replies ^ | May 26, 2011 | John Ransom
    Ever wonder how people go to Congress and become millionaires? A new academic report clears it up for us.A report from four scholars, Alan J Ziobrowski; James W Boyd, Ping Cheng; and Brigitte J. Ziobrowski, titled Abnormal Returns From the Common Stock Investments of Members of the U.S. House of Representatives,  shows that between 1985 and 2001 members of Congress enjoyed a considerable advantage over members of the public in their investment returns.The article was published by Berkeley Electronic Press and is a follow up to a similar study done on investments by US Senators. “A previous study suggests that...
  • House members in the know score ‘abnormal’ stock profits, study says

    05/26/2011 4:05:45 AM PDT · by radioone · 13 replies
    The Washington Times ^ | 5-25-11 | Valerie Richardson
    It’s no secret that members of Congress qualify as political insiders, but a new report strongly suggests that they also may be insiders when it comes to trading stocks. An extensive study released Wednesday in the journal Business and Politics found that the investments of members of the House of Representatives outperformed those of the average investor by 55 basis points per month, or 6 percent annually, suggesting that lawmakers are taking advantage of inside information to fatten their stock portfolios.
  • Obama lie: Oil company business expenses are “tax giveaways”

    05/14/2011 6:39:04 PM PDT · by Steve495 · 27 replies
    Radio Vice Online ^ | May 14, 2011 | Steve McGough
    This is out of control. On May 3 I wrote about how the left, President Obama and Democrats can’t admit that what they refer to as major “subsidies” are simply ordinary business expenses. Now Obama has used the word “giveaways” in a direct email campaign looking for donations. ... "The CEOs from the five major oil companies — which together booked $36 billion in profits in the first quarter of 2011 alone — went to the Senate on Thursday to try to justify the $4 billion in tax giveaways they’re receiving this year." Read more...
  • The Oil Drill : Here’s how NOT to solve the problem of high gas prices.

    05/12/2011 7:12:15 AM PDT · by SeekAndFind · 8 replies
    National Review ^ | 05/12/2011 | The Editors
    Three Senate Democrats angry about the high price of gasoline propose to raise taxes on the firms that produce it. No, it does not make any sense to us, either. For Democrats, expensive gas is just the price of scoring a moral victory over Big Oil, and American consumers will be expected to pay any price and bear any burden that Harry Reid & Co. inflict upon them. The “Close Big Oil Tax Loopholes Act” is a minotaur’s labyrinth of economic illiteracy, with Democratic senators Robert Menendez (N.J.), Sherrod Brown (Ohio), and Claire McCaskill (Mo.) lurking at the center of...
  • Conoco exec: Ending tax breaks for oil majors won’t help consumers

    05/11/2011 10:38:46 AM PDT · by thackney · 39 replies
    Fuel Fix ^ | May 11, 2011 | Brett Clanton
    A top executive at ConocoPhillips today accused backers of proposals to eliminate certain tax benefits for major U.S. oil companies as distorting the facts and unfairly penalizing a few companies that already are heavily taxed. “We think there’s a real mischaracterization of the whole debate,” ConocoPhillips’ Chief Financial Officer Jeff Sheets told reporters this morning before the Houston oil company’s annual shareholder meeting. The tax breaks and deductions the industry receives are not special subsidies for the oil industry, as critics say, but are widely available to other U.S. companies. Eliminating them would amount to putting “unique taxes” on the...
  • Exxon's profit soars 69 percent, tops Street [Revenue rose 26 percent to $114 billion....]

    04/28/2011 6:18:21 AM PDT · by Sub-Driver · 29 replies
    Exxon's profit soars 69 percent, tops Street 8:34am EDT HOUSTON (Reuters) - Exxon Mobil Corp's quarterly profit rose a better-than-expected 69 percent as the world's largest publicly traded oil company benefited from higher crude prices and better margins for its refineries. The Irving, Texas, company reported a first-quarter profit of $10.65 billion, or $2.14 per share, up from $6.3 billion, or $1.33 per share, a year earlier. Analysts on average had expected Exxon to report a first-quarter profit of $2.07 per share, according to Thomson Reuters I/B/E/S. Revenue rose 26 percent to $114 billion.