Time Warner Is Aggressively Plowing Ahead With More Job Cuts
Time Warner is plowing ahead with additional job cuts. The New York-based media conglomerate is scrutinizing its operations in an effort to appease shareholders concerned with profits growth.
9/18/2014 2:19 PM EDT
By holding the line on taxing the rich, bailed out AIG/Fannie-Freddie/credit-flow, fought off the shutdown, defending the middle class benefits, money to support auto manufacturing, allowed energy Nat-Gas/renewable expansion, ended/ending two major wars, tax relief for capital investments ... Barry has done well despite of the calamities he inherited and faced with obstructionists throwing road blocks at every step: GOP Job one was to make sure Obama is a one term president.
Oracle misses by $0.02, misses on revenue
Oracle (NYSE:ORCL): FQ1 EPS of $0.62 misses by $0.02.
Revenue of $8.6B (+2.6% Y/Y) misses by $180M.
for DOW-30 and S&P 500. Small caps and NAS are all near decade highs. Obama bull just won't quit.
DOW at 17,266.15
SPX at 2011.39
NAS at 4593.43
Heard last week that there is ~4 million job openings but companies are not filling them ... they want a MIT PhD in Mechanical Engineer as a machine operator or want a handout from Congress/politicians to hire a trained operator from trade/junior-college school.
In my days, you hire a high school kid and train them; you hire a college grad and have them tail an experienced engineer for 3 to 6 months; you send employees or reimburse tuitions/fees for education/skill advancements.
More details (yet the Fed continues with ZIRP as if the end of the world):
Initial jobless claims fell to 280,000.
Expectations were for claims to come in at 305,000, down from last week's revised reading of 316,000.
Following the report, Ian Shepherdson at Pantheon Macro said: "With the exception of the week of July 19, when claims were distorted by the automakers' shutdowns, this is the lowest reading since May 2000."
Shepherdson noted, however, that seasonal problems likely accounted for a "good part" of this week's decline.
The four-week moving average of initial jobless claims fell back below 300,000 to 299,500, down 4,750 from last week's average.
Continuing claims also fell to 2,429,000, down 63,000 from last week's revised level and the lowest level for continuing claims since May 19, 2007.
Jobless Claims falls 36K to 280K
Initial Jobless Claims: -36K to 280K vs. 305K consensus, 316K prior revised. (prior 315K).
Continuing Claims -63K to 2.43M
You think the Chinese would buy an apple iPhone or Nike socks because they are all made in China??? Seems to me they are more patriotic to their country than you to the Japanese Empire of the Sun.
I have posted recent data that UE in Germany, Canada and the rest of the developed world are worse than ours. The emerging markets are still far behind but catching up fast. China went from under developed to the number 2 economy in 30 years.
We need to throw out the do-nuthin' bums. Sad truth is their approval rating is in the low teens yet nearly all of them are poised to be re-elected !!!
We know about the Wall Street layoffs and rightly so. Those are not disappointing. What's disappointing are housing remains flat (though builders are in fat profits due to higher selling prices) and manufacturing (jobs are still in Asia and not coming back anytime soon.)
ABC news have been reporting its Made in America series for over a year. Problem is Congress have not given preference to US made goods because our multinationals are making the goods overseas. Remember that our military components used to require components made in USA until the push for cheaper goods. Now much of them are made and assembled offshore. NAFTA under Clinton and of course Bushes' globalization push have not helped.
Now the game is reincorporating headquarters overseas to avoid fair taxes ... Obama proposed tax reform to close the loophole and Congress refused to go along ...
Obama policy had saved the auto industry, millions of home owners and banks. The recovery act also gave the State and local governments time to restructure instead of closing down essential services.
With that said, the Obama bull run is in fact nothing to write home about as those all time S&P and DOW highs are not much higher than their 2007 highs, 7 years ago; not much higher than their 2000 highs, 14 years ago.
Median Incomes Fell for All But Richest in 2010-13, Fed Says
By Victoria Stilwell and Craig Torres Sep 4, 2014 9:00 PM PT
Only the richest Americans enjoyed gains in income from the economic recovery during 2010-2013, as median earnings fell for all others, a report from the Federal Reserve showed.
Median income adjusted for inflation rose 2 percent to $223,200 for the wealthiest 10 percent of households from 2010 to 2013, the Fed said yesterday from Washington in its Survey of Consumer Finances, taken every three years. The bottom 60 percent saw the biggest declines.
The Obama bull has everything to do with Wall Street and not so much for Main Street. You do know that only the top 10% have significant assets in both Real Estate and stock market right?
Canada Posts Surprise August Job Decline
By Greg Quinn Sep 5, 2014 5:54 AM PT
Canadian employment unexpectedly fell in August including a record drop in private-sector jobs, undermining policy makers’ optimism about the economic recovery.
Employment fell by 11,000 and the jobless rate was unchanged at 7.0 percent, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg News projected a 10,000 job increase and unchanged unemployment according to the median forecasts.
The total employment loss masked the 111,800 decline in private-sd total that also matched a 1 percent drop set in April 1982.
I had posted Uncle Ben's trickle down theory with his ZIRP and QE policies. I pointed out then that tickle down did not work in Reagan years for the average joes, only for the rich.
Congress members used to scoff at the fed but had long been silent while chose to do nuthin' in fiscal policy other than privatizing SS and Medicare ... the people need to vote out all incumbents this Nov.
While we are much better off than Japan and Europe, thanks to fiscal stimulus besides QEs. Agree that the number is NFG. The blame falls on the job creators and do-nuthin congress. The Fed tried but failed to help main street except the top 10% as you say.
The 142,000 advance in payrolls was weaker than the lowest estimate in a Bloomberg survey and followed a revised 212,000 gain in July, figures from the Labor Department showed today in Washington. The median Bloomberg survey estimate was for a 230,000 increase. The unemployment rate fell to 6.1 percent from 6.2 percent in July, reflecting a drop in joblessness among teenagers.
Employers that boosted headcounts in the first half of the year may be more restrained in their hiring as they await even faster economic growth.
Bill & Dave: How Hewlett and Packard Built the World's Greatest Company, Portfolio Hardcover, 2007 Michael S. Malone.
Built to Last: Successful Habits of Visionary Companies is a book written by Jim Collins and Jerry I. Porras. The first edition of the book was published on October 26, 1994
In Search of Excellence is an international bestselling book written by Tom Peters and Robert H. Waterman, Jr.. First published in 1982