Q2 corporate profits up 6%
Q2 Corporate Profits: +6% vs. -2.9% in Q1.
Initial Jobless Claims
Initial Jobless Claims: -1K to 298K vs. 300K consensus, 299K prior (revised from 298K).
Continuing Claims +25K to 2.53M vs. 2.51M consensus.
Q2 GDP revised higher to 4.2% growth
GDP Q2: +4.2% vs. +3.9% expected, +4% previous estimate.
vt, It took over 2 years for this case:
Dash-Cam Video Clears NJ Man in Violent Traffic Stop
Feb. 25, 2014
By SARAH WALLACE via Good Morning America
Marcus Jeter faced a years-long prison sentence.
The New Jersey DJ, 30, was arrested in a 2012 traffic stop and charged with eluding police, resisting arrest and assault. Prosecutors insisted that Jeter do prison time.
"The first plea was five years," Jeter said.
But after Jeter's attorney, Steven Brown, filed a request for records, all of the charges against him were dropped, with dash-cam video apparently showing what really happened June 7, 2012. Now, the officers are facing charges.
The video, which prosecutors say they never saw before filing the initial charges, shows Jeter holding his hands above his head.
"The next thing I know, one of them busts the [car] door and there is glass all over my face," he told ABC News station WABC-TV about the arrest.
Cop who Beat Down a Wheelchair Bound Man Found Not Guilty on All Charges
By Matt Agorist on February 11, 2014
Back in 2012 Richard Jouppi was booking 50-year old, wheelchair bound, Anthony Jon Jackson in the detoxification center. Jouppi was clearly causing pain and hurting Jackson, at which point Jackson reached up with his arm to defend himself, and told Jouppi, “you can’t do that.”
Jouppi then stooped to particularly low level and began to pummel Jackson to the point of knocking him backwards out of the wheelchair and then getting on top of his paralyzed body
Earlier today, we learned that the number people unemployed in Germany unexpectedly climbed by 2,000 in August. Economists were expecting this number to decline by 5,000. The unemployment rate in Europe's largest economy held at 6.7%.
Thought I had pointed out to you that less than 300K first time claim number is rare in our lifetime. Agree that the annual GDP number still stinks, thanks to the obstructionists refusal to pass the infrastructure bills )plural), Nat Gas Bill and tax loophole reform bills.
You won't change your opinion about our first black potus until you or someone close to you have a life changing experience, like Lang's brother in law changed his Obamacare views.
Once more, back in 2008, before Barrack took over:
GM and Chrysler about to be liquidated for scraps throwing millions to unemployment. TARP for Wall Street but nothing for Main Street as we were losing 700K jobs a month. Remember:
Sizzler, Sambo's Souper Bowl, Cory's, Jasco's, Kings Table Buffet, Ribs City, Katsu's, (Todai -most locations), Shakey's Pizza, Straw Hat Pizza, Popeye's, Albatross, Fresh Choice ... Mervybs, Factory 2 U, Lucky Supermarket, Thrifty, Longfellow Lumber, Ben Franklin, Circuit City, Hobbytown USA, Kay Bee Toys, Linens N Things, Miller's Outpost, Toy Depot, Taj Bazaar ... HealthSouth, Countrywide, Washington Mutual, Nvastar Financial, K-Mart, New Century Financial, Calpine, Adelphia, Lehman Brothers, Bear Stearns ...
Not to mention all those furniture stores, Loan offices, Real Estate and Hotels ...
Worse recovery has anything to do with worst financial crisis since The Great Depression?
Romney for US president in 2016? Iowa poll puts him on top
Americans may not be through with Mitt Romney after all. The two-time Republican presidential candidate has repeatedly stressed over the past year that he is not interested in a third shot at the White House. The survey of Iowa Republican
Wait, Germany is doing OK at 0.5% higher UE than our miserable 6.2% UE? Why the change of heart that 6.7% UE is OK?
Nothing new there but rehashing the strong vs weak USD cycles. e.g. Chinese Yuan RMB exchange rate over the past decade has not improve manufacturing jobs at home but other countries where labor were even cheaper and more excessive than in China:
On July 21, 2005, the peg to US$ was lifted, which saw an immediate one-off RMB revaluation to 8.11 per USD. Today's rate is 6.14 per USD.
Wrong, for those already in the upper class with steady high income, $0 wage is good and $10 is bad.
Been listening to Rustylimpballs again:
" ... I've never been in Michael Brown's shoes, though, because I've never stolen a box of cigars, beat a policeman, and tried to take his gun away from him. If I had, I expect I would be talking to St. Peter now, like Michael Brown is, instead of a lawyer. ..."
As the effective tax rate is already below 25% and many Fortune 500 are paying below 15%, the obstructionists will do-nuthin' of the kind.
They don't want tax reform and have told the obstructionists in no uncertain terms in the form of campaign checks:
Twenty-six of the most powerful American corporations – such as Boeing, General Electric, and Verizon – paid no federal income tax from 2008 to 2012, according to a new report detailing how Fortune 500 companies exploit tax breaks and loopholes.
The report, conducted by public advocacy group Citizens for Tax Justice (CTJ), focuses on the 288 companies in the Fortune 500 that registered consistent profit every year from 2008 to 2012. Those 288 profitable corporations paid an “effective federal income tax rate of just 19.4 percent over the five-year period — far less than the statutory 35 percent tax rate,” CTJ states.
One-third, or 93, of the analyzed companies paid an effective tax rate below 10 percent in that timespan, CTJ found.
Defenders of low corporate taxes call the US federal statutory rate of 35 percent one of the highest companies face in any nation. But the report signals how the most formidable corporate entities in the US take advantage of tax breaks, loopholes, and accounting schemes to keep their effective rates down.
“Tax subsidies for the 288 companies over the five years totaled a staggering $364 billion, including $56 billion in 2008, $70 billion in 2009, $80 billion in 2010, $87 billion in 2011, and $70 billion in 2012,” CTJ states. “These amounts are the difference between what the companies would have paid if their tax bills equaled 35 percent of their profits and what they actually paid.”
Aug. 29, 2014, 5:59 AM
Los Angeles sheriff's deputy Andrew Wood will not be charged for fatally running over former Napster COO Milton Olin Jr. in his patrol car while the officer was typing a message into his computer.
We first saw the news on Valleywag but there is good coverage in the Daily News and LAist, too.
The instance exposes the different way that law enforcement officials are treated versus civilians in cases where a person is killed due to texting-while-driving.
It's illegal to text and drive in California; the state has a specific law against it. Civilians caught doing it can expect to face charges. But a report from the Los Angeles District Attorney's office shows that the rules may be applied differently to cops.
The incident involving Olin and Wood happened last December in Calabasas, California. Olin, a key figure at the peer-to-peer music sharing company that pioneered the online music download industry, was cycling in the bicycle lane when he was killed instantly by Wood's patrol car.
Bottom line is the cop had gone MAD when a young black kid appeared to ignore his command to stop walking in the middle of road as if he owned the street ... who needs the justice department when we have the MAD cops?
I was not there and the kid might have shown disrespect and might have refused to put his arm up or refused to lie down to even charged the cop or might had a Uzi inside his pants ...
My point is the police need to stop killing citizens whom they are sworn to serve. I suggested that kids must pass a written test on how to respond to cops or cops change their shoot to kill ...
Another case that our laws are to protect the rich, powerful and the establishment.