IMF is advising against US rate hike:
"Citing risks of market volatility and financial instability, the International Monetary Fund again implored U.S. central bankers to hold off on interest rate hikes until next year.
"In its latest update on U.S. economic health, the IMF said barring any upside surprises to U.S. growth or inflation, the Federal Reserve should leave its benchmark short-term borrowing rate at its current pegged rate of 0% to 0.25%.
"The warning comes a day ahead of Wednesday’s release of the minutes of the Fed’s June 16-17 meeting. It is not the first time this year that the IMF has issued such a warning."
My question is, how long is the situation going to worsen? Is this a tradable event or hold on? Some say Greece is a drop in the bucket; others opine OMFG the euro is going to go bust. Disclosure: holding gains on DXD, SH.
I"m skeptical how the Fed measures inflation. The inflation's there - package sizes are smaller with prices about the same. I roll my eyes when retail make a point in telling you how much you saved (nothing like trying to make the consumer feel good about thier purchase and offer some positive reinforcement), and I'm thinking, yeah, that's because you had a 400% markup before your half-off sale.
I think we'll see one if not two token rate hikes in 2015.
Supposedly an airline exec commented on capacity growth slowing 1-2pct next year as the current year was anomalous. I shake my head. Slowing growth is still growth. Seems like the market is indeed "priced for perfection"
In theory it should be supply and demand as a result of production, storage, and consumption. Toss in a bit of media reporting and pumpers, then it's anyone's guess.
from transcript: "The $0.15 dividends will be paid on March 12, June 12, September 11, and December 11, 2015 to all stockholders who own shares of PDL on March 5, June 5, September 4 and December 4, 2015."
E&Y have been auditors for PPHM whose current proxy statement shows their audit fee went up 55% in 2014 as compared to 2013:
audit fees 522,000
tax fees 7,000 (for prof. services rendered for tax compliance)
all other fees 2,000
audit fees 336,000
tax fees 0
all other fees 2,000
As to PDLI, I'm guessing there might have been a disagreement over auditor fees.