ANTHEA MITCHELL | DECEMBER 02, 2013
On November 27, JPMogan Chase released a notice of Global Data Watch’s findings on the impending end to extended unemployment benefits and the findings are less then optimistic, with the research notice stating that “expiration of these benefits could lower labor force participation.This, in turn, would depress the unemployment rate, by perhaps 0.25 percent to 0.50 percent pt”.
The funding currently fueling the Emergency Unemployment Compensation program — the EUC — will run out on January 1. At present, the report says that EUC is supplying unemployment benefits for around 1.3 million individuals. While this is not the first time the funding has run dry, it is the first time it looks so likely to go without refunding from congress(NOT A CHANCE).
The report notes that unemployed individuals are more likely to remain in search of a job rather than leave the market if they are receiving benefits for continuing their search. They are also more likely to look for a higher paying job, as opposed to settling for a low wage out of desperation. Further, spending that would otherwise not occur from unemployed individuals could cease along with the benefits — meaning that the resultant economic benefit from consumers would also end.
Another positive effect from said benefits is that employers may be less likely create jobs if possible replacements are likely to demand a high wage from a place of fiscal security. The EUC was created in response to the 2008 financial crisis and recession and has shelled out somewhere between $20 to $25 billion annually in aid to those looking for employment beyond the usual six month period.
JP Morgan’s economic research report also qoutes researchers from the New York Federal Reserves who believe that job creation is limited because of extended benefits, but also find that reduced spending from unemployed individuals would cut spending by 0.4 percent for the annualized real GDP growth in the first quarter.
$141+, everyone is happy, management is happy, institutional investors and other major shareholders are very happy, but for the employees it's 'Merry f'in Christmas' and Happy New Year, if you're still here.
Philip 2 4 6 8 who do I blow at 8. and Econpoopforbrains,
Commie Comrads, have you read your latest copy of your commie rag the Peoples Daily? If so you wouldn't know about this story.
"China's usually hawkish Global Times, a tabloid owned by the government mouthpiece, the People's Daily, last week urged the deployment of the Ark amid criticism of Beijing's response by foreign commentators."
"China, the world's second-largest economy, initially announced it was giving $200,000 and then bumped that up by $1.6 million. On Sunday, it said it was ready to send rescue and medical teams."
"contrast, the United States has mobilized about 50 ships and aircraft in the disaster zone with helicopters delivering supplies from an aircraft carrier. It has announced more than $37 million in humanitarian aid."
jack... "overpaid unionized US workers I would bet" . I'll bet yah a weeks pay on that now or anytime over the past 5 years when the layoffs began.
Don't confuse "unionized US workers" with senior staff techincal talent whose grey is showing a bit so they and their decades of experience get canned instead of the o"unionized US workers" you're quick to impune . A McGraw Hill text book and five years of post graduate experience at LMT makes for a senior staff specialist on hypersonic vehicle design or controls or materials or __________ (fill in the blank with a list of any number of critical skills).
jack... "More salaries designers, not assembly unionized workers, will make LMT greater
in the future", spoken like a true arm chair bean counter, or a defense worker that does menial, mind numbing, work and thinks he really knows what is going on.
No, it isn't "More salaries designers, not assembly unionized workers". Its more like more computer models (based on made up data) and power point charts put on by none other than the under 20 something, beautiful, Power Point Rangerettes. The Power Point Rangerettes are used to razzle dazzel starry eyed 4 stars to sign on the dotted line despite the rediculous price tag most of which goes to executive MICP.
Work in the field jack before blabbing your un-informed opinion around like you know what you're talking about. Or better yet join the Boeing board where this kind of BS'ing is done all the time.
America without unions aka LMT versus America with unions BA. Its really a tough choice for a career employer. Its also tough if the AF wants successful experimental craft and if they don't want an X-37B.
By the time F-35's are rolling off the line at a decent clip, drones and only drones will be the name of the game. I think the administration and DOD know that and they'll either be marked for not recongnizing that or the gov. will terminate the F-35 orders far short of the total predicted.
Now who has top experience in builiding cheap, easy to operate, drones?
Imagine a 19 year old kid, with a big bladder, sipping on Diet Coke while pushing the joy stick around and dropping blobs from the sky on Mario's brother. Jump, jump, quick eat the fly.
I should have also added the point that the WOW and Cool factor do not usually produce a cost effective product. The F-22 had some very real superior capabilities that the F-35, or any other plane I know about , could reproduce.
It's to bad the beans were spilled about the F-22 and it became obsolete in the air superiority race. Lets hope it isn't raining on the day it is to defend us.
Compare the disaster for each company if there was an interuption in the order delivery cycle.
Lets kill Boeings highly profitable and competitive 737 and say the 757 lines and examine how much that would decimate Boeings stock price?
Compare that disaster with cutting the DOD's orders for the F-35 by only half. How would affect the stock price?
I'm no business major, but it seems to me that it is not prudent to have all your eggs flying on only one plane.
$135 can easily be reduced to $13.50.
1. There is no way on this planet that the F-35 will ever replace the A-10's capabilities, unless there is something very secret about the F-35's hull.'s
2. Why is there such a worry about China now? They are top members of the carrier group annihilation club. They are respected in the intercontinental nuke club. They are in the stealth club. They are in the sub launched ballistic nuke club. China has all the same cards. Another mutually assured destruction race is heating up. 2 billion versus 300 million.
My only disappointment are the constant President hate and bashing club members make no mention of this threat thats going on right under their noses. If we distract the government enough perhaps they will over look something critical to saving the nation.
What did you expect? Engineers union, better benefits, happier employees. However, don't neglect LMT's huge numbers of orders for the F-35 and variants and other stuff unknown to the public.
Boeing only has, 737, 747, 757, 767. 777, 787, 7X7
F-18 refresh, Super F-18, F-18 international sales.
I'm supprised Boeing even got close to catching up in price. Makes no sense to me.
The Defense Department and Lockheed Martin Corp. had paid $1.2 billion in cost overruns for the F-35 Joint Strike Fighter as of September, according to data released Monday by the Government Accountability Office.
Specifically, the total cost of the four contracts for 63 planes was $12.28 billion — 10.9 percent more than the amount awarded under the original contracts. The government's share of the total overrun is about $756 million under the sharing incentive provisions included in the contracts, with Lockheed (NYSE: LMT) presumably footing the rest of the bill.
Production costs, however, seem to be steadying. The last and largest contract for 32 aircraft, which was worth $5.04 billion at the time of award, had the lowest cost overrun, 6.5 percent. Aircraft labor hours to build the F-35 are decreasing with more experience, according to the report, and "the program is moving down the learning curve as projected."
The fifth contract, which was recently negotiated, included cost targets that reflect gains in efficiency, and the sixth and seventh contracts will as well once negotiated this summer, Lockheed and Defense Department officials predicted.
Beyond cost overruns, the program incurred about $900 million to rework the aircraft — adding about $15.5 million to the price of each of the 58 purchased jets. An additional $827 million is expected to be spent reworking aircraft purchased in the next six annual contracts, according to the report.
The GAO's explanation for the added costs? "The program started manufacturing aircraft before designs were stable, before establishing mature manufacturing processes, and before sufficiently testing the design and aircraft performance."
Total investment is nearing $400 billion to develop and procure 2,457 aircraft through 2037, the GAO reported, with an average annual funding requirement of $12.6 billion.
Boeing Engineers Union Rejects Contract Offer
Send Boeing engineers union rejects contract offer
Negotiations between Boeing and SPEEA began April 19, 2012. In the weeks since then, the company and union have continued to meet on a regular basis, focusing on specific issues each week.
One SPEEA contract covers 23,000 professional engineers in Puget Sound, Portland and Ogden, Utah; the other covers technical workers in Puget Sound and Portland. The two contracts are similar in many respects but not identical.
Main issues included wage pools, medical premiums, the inflation factors, pension, standard benefit formula, alternative benefit formula, status of pension and leakage in wage pools.
1. Wage Pools and Medical Premiums
Boeing has proposed the following wage pools for the SPEEA-represented professional and technical contracts:
Profs: 4.5% in 2013, 4.0% in 2014, 4.5% in 2015 and 4.0% in 2016
Techs: 3.5% in 2013, 3.0% in 2014, 3.5% in 2015, and 3.0% in 2016
Boeing proposed medical plan premiums on all available medical plans. The Traditional Medical Plan (TMP) is currently free from premium contributions, but the Boeing corporate offer increases premium contributions to 8%. The annual impact of the 8% premium on the TMP will significantly offset the wage pools.
The majority of SPEEA-represented Profs and Techs cover their families in the TMP, work with their doctors to manage their health conditions and do not participate in third-party health-risk screenings.
The tables below show the impact of the medical premiums as a percent of base salary and assume that an individual receives the entire wage pool. The current average base salary is $109,257 for Profs and $80,539 for Techs.
| Year | Salary Prof. | Pool Increase| Family Premium TMP | Medical Premium as % of Salary |
| 2013 | $114,174 | 4.50% | $ | 0.0% |
| 2014 | $118,741 | 4.00% | ($1,535.30) | -1.3% |
| 2015 | $124,084 | 4.50% | ($1,651.59) | -1.3%
UnitedHealth Group Inc. CEO Stephen Hemsley took home $48.8 million in total compensation last year, or about half as much as he took home in 2009, according to the company's proxy statement filed Wednesday. About-to-expire stock options granted about 10 years ago contributed the bulk of his compensation in both years.
In 2010, Hemsley realized a gain of $43.5 million on exercised options. Those options were originally issued in 2000 and 2001 and were near their expiration dates. The options had exercise prices ranging from about $15.62 to $18.05.
Hemsley exercised those options at prices ranging from $33.12 to $37.03. Since those options were granted, UnitedHealth's stock has split at least 4-for-1, and the bulk of Hemsley's option gains in 2010 were from an option grant in 2000 that has since split 8-for-1.
In 2009 Hemsley exercised $98.6 million worth of previously issued stock options that contributed to his overall 2009 compensation of $102 million.
Hemsley maintained control of most of those shares after they were exercised although he has sold some to settle tax obligations, the company said. UnitedHealth's executive stock ownership guidelines ask the CEO to own shares valued at five times his base salary. Hemsley now holds shares valued at 88 times his base salary, according to the company's proxy statement.
An external pay analysis done for the company showed that Hemsley's compensation for 2010 was below the median level for CEOs in UnitedHealth's peer group. The compensation committee and Hemsley agree that his compensation plan "is sufficient to motivate and retain him," according to the proxy.
Paul Hodgson, senior research associate with GovernanceMetrics International in Portland, Maine, agreed that some elements of Hemsley's compensation are below what other health insurers are paying their CEOs -- but not all. His salary is below-market, and possibly his bonus, which is tied to performance, Hodgson said.
No Continuing Resolution +
Oct. 17 Debt Default +
Triple Witching Expiration on Commodities = Complete USA Economic Collapse
PRAY THIS DOES NOT HAPPEN! Pray like you've never prayed before!
If democrat = dumbo
republicon = repumbo ?
Is this you sam?
I am Sam
I am Sam
Sam I am
I do not like that Sam-I-am!
Do you like green eggs and ham?
I do not like them, Sam-I-am.
I do not like green eggs and ham.
samspadesr = ted cruz?
calm down spazticus? communist healthcare?... dumbos? commiecare? dumbos the only ones with 1st ammendment rights?
What language is this? Ebonics?
Try attending an English as a Second Language class.
I guess I'll reserve calling you names such as spazticus
Chemical Ali, its never going to happen until the Repub's put up a decent candidate, i.e. not a Romney type dirt bag.
Dear Speaker Boehner,
Enough is enough.
Today marks the fifth day that the federal government has been shut down. Please consider how deeply unfair this is to the citizens we represent.
The solution to this crisis is a simple piece of legislation that funds the government at levels that have already passed both chambers of Congress.
At this point, to attach defunding or delaying the Affordable Care Act to legislation needed to re-open the government is to put our economy at risk in order to advance a political agenda.
We demand a vote on a clean continuing resolution immediately so that government functioning can resume and Americans can move on with their lives.
The games have to stop!
Sincerely, John Q. Public
House Now Has The Votes To End Government Shutdown, But It Won't
Posted: 10/02/2013 2:52 pm EDT | Updated: 10/02/2013 4:48 pm EDT
WASHINGTON -- Less than two days after the government shut down, there are now more than 17 Republicans who say they're ready to pass a bill to fund the government with no strings attached, giving the House the votes it needs to pass a clean funding bill.
All 200 Democrats would need to stick together and team up with those Republicans to pass the bill, but House Speaker John Boehner (R-Ohio) would have to be willing to put it to a vote, which so far he has given no indication he will do. But if he does, the votes appear to be there. The Senate would pass the bill in no time, sending it to be signed by President Barack Obama and ending the shutdown.
Instead Japan nuked themselves with a Fukushima Daiichi nuclear disaster that will eventually contaiminate the entire world. "Planet of the Apes" or a little sterility will end your species.
Nuclear power could play a role in reducing global warming emissions because reactors emit almost no carbon while they operate and can have low life-cycle emissions. Partly for that reason, advocates are calling for a nationwide investment in at least 100 new nuclear reactors, backed by greatly expanded (Obama) federal loan guarantees. However, the industry must resolve major economic, safety, security, and waste disposal challenges before new nuclear reactors could make a significant contribution to reducing carbon emissions.
We already had an energy presidents so called promise, but all we really got was Bushwacked by a dim bulb in the whitehouse.
The 1% don't like either. Merkel grew the German economy to such an extent to bail out most of Europe. Likewise, Deng Xiaoping (Dung Shall Ping) grew China to such an extent to bail out the rest of the world, including Bush's America.
PS Hilirary wasn't a big fan of Xiaoping. She didn't need a big military career to recognize whats wrong with China holding half of more of the debt of the USA.