Lisa Colagrossi reports from Tarrytown
Col Korn: If you think repugs will "fix" ACA then you qualify as LOW INFORMATION VOTER and if you think your insurance premiums will be less when ACA ends you are in for a BIG SURPRISE because ACA did NOT raise premiums. Insurance companies did to recover all the money they lost in 2008 stock market crash. That's right insurance companies collect your money and give it to Wall St and if you think they will suddenly decide to make LESS MONEY then you have got your head in the sand. Every year the Board of Directors of health insurance companies biggest decision is how to pay LESS for health care so they can give MORE to Wall St.Wall St thinks the American consumer is a cash cow and they will not stop until they milk it dry and republican party is paid to protect their profits
GPS device-maker Garmin long has revered diversity in its workforce, even when the locale of its ever-sprawling operational headquarters — a largely white Kansas City suburb — didn't reflect it. It's the place 32-year-old Srinivas Kuchibhotla came to work a few years ago. By his wife's account Friday he willingly spent long hours on an aviation systems engineering team alongside Alok Madasani, a friend and colleague also 32 and from India.
"For decades, Jack has urged investors to invest in ultra-low-cost index funds. In 1974, Bogle founded Vanguard Group, which transformed investing forever with the index fund. The index fund, which passively tracks a market index, allows ordinary people to invest in the stock market at much lower fees than in traditional, actively managed funds.
A strategic mistake made six years ago by celebrity CEO Ron Johnson continues to haunt popular retailer JC Penney, as evidenced by the ongoing sluggish sales growth and store closings that have made the company smaller—a fraction of what it once was. Meanwhile, investors have been bailing out from the company’s stock, which trades in the middle single digits — a long way from the upper 30s, where it was trading back in 2012. JC Penney’s woes began with a change in the retailer’s pricing strategy –replacement of coupon sales with everyday low prices. The old pricing strategy has been popular among retailers, because it hypes shoppers, making them feel smart and encouraging them to talk with
The Dependability Study is a bit like Power's equally popular Initial Quality Study, which is typically issued in June. Both studies assess real-world data from America's registered drivers about the problems they've had with their cars, trucks, and SUVs. The difference is that the Initial Quality Study looks at issues folks have had with new vehicles during the first 90 days of ownership.
Alan Colmes, the radio and television host and commentator best known as the amiable liberal foil to the hard-right Sean Hannity on the Fox News Channel, has died. Fox spokeswoman Dana Klinghoffer confirmed his death Thursday. Fox also aired a tribute to Colmes, narrated by Hannity, and a statement from his family saying that he died Thursday morning after "a brief illness." Colmes was 66 and is survived by his wife, Jocelyn Elise Crowley, the sister of longtime Fox contributor Monica Crowley.
Progress is accelerating for a start-up combine manufacturer in Newton. Tribine Harvester LLC is ramping up production on a high-capacity combine that is designed to reduce operational expenses. “We’re trying to make the farmer more efficient in his operation and help him save money,” says Greg Terjesen, vice president of sales and marketing for Tribine. He says the company is beginning to sell its product directly to farmers and has multiple orders that are contingent on a successful demonstration. “This is the year for generating revenue,” Terjesen says. The company has grown to 14 employees with plans to add at least six more in the near future. Next year, the company will begin evaluating
Plus, the first day of every month, a specific amount from my checking account is sent directly to my Roth IRA and my Ally high-interest savings account. Since my savings goals are taken care of each month — along with my fixed costs, such as rent and insurance — I feel free to spend the rest of my paycheck as I please. My system is a seemingly well-oiled machine: At the end of the day, I cover my expenses and set aside enough to hit my savings goals.
The Great Restructuring in retail continues. In the wake of a disappointing holiday season, J.C. Penney (JCP) said Friday it will close 130 to 140 stores by the second quarter. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of
Former House Speaker John Boehner (R-OH) has been watching the controversy over health care play out from the sidelines, and he understands better than most how hard it is to forge a compromise within his party, even under the best of circumstances. Boehner is no fan of President Donald Trump, and declared last December that the election campaign had been “the most bizarre political year that we've seen in 100 years.” In the new Trumpian political era, Boehner is persona non grata among many Republicans he once led. While the former speaker’s comments will be taken with a grain of salt by diehards determined to repeal and replace the Obamacare later this year, Boehner on Thursday predicted that Trump and the Republicans would fall far short of their goal.
North Korea appeared to lash out at Beijing Thursday in a state media commentary, despite the fact that it has long relied on China for economic and diplomatic support. WSJ's Lee Hawkins explains. Photo:
Chesapeake Energy Corp. was upgraded Friday at UBS, which said the oil-and-gas company’s stock had fallen too far to remain bearish on its prospects. The stock CHK, -1.57% rose 1.8% in active morning trade. With recent volume of 20.6 million shares, which was already more than half the full-day average of 36.1 million shares, the stock was the eighth-most actively traded on the major U.S. exchanges. On Thursday, the stock had tumbled as much as 9.1% in intraday trade, before closing down 2.9% at a three-month low of $5.75, in the wake of fourth-quarter results. UBS analyst William Featherston said he raised his rating on Chesapeake to neutral, after being at sell since June 24, 2015, because
Although President-elect Donald Trump has pledged to cut federal taxes, state taxes are rising across the U.S. as financially strapped states search for funds to repair deteriorating infrastructure and close widening budget shortfalls. Alaska currently has no income or state sales tax. Raising existing state taxes or imposing new ones could backfire if they lead to fewer taxpayers.
Warren Buffett’s annual letter to Berkshire Hathaway shareholders is out, and it’s full of wisdom from the Oracle of Omaha. In it, Buffett, the 86-year-old CEO of the company, offers his thoughts on American business and, by extension, the US stock market. “America’s economic achievements have led to staggering profits for stockholders,” Buffett writes.
“Bob’s a slow learner,” my instructor says after I tell him why I’m taking his class. The class, FP103 — Investments — is one of seven I must complete before I sit for the Certified Financial Planner exam. And the reason I told my instructor and fellow students — the reason I’m sitting in room 323B in Boston University’s College of Arts & Sciences building on Thursday evenings from 6 p.m. to 9 p.m. this semester instead of watching the Bruins or reading a biography of Abraham Lincoln or painting my daughter’s bedroom -- is that I plan to finish what I started in 1990. Yes, I plan to get my CFP. In my investment class, I’m one of 16 students, including a 20-something CPA, a 30-something business
For nearly a decade, rock-bottom mortgage rates have fueled the housing market, but that could end as rates start climbing. More than half of current home shoppers consider rising interest rates among the top factors affecting their ability to buy a home, according to a new survey from Zillow Group Mortgages. Eight in 10 homebuyers surveyed said that they’ll continue with their plans even if rates increase their monthly mortgage payments by $100.
We expect leading contract driller SeaDrill Ltd. SDRL to beat expectations when it reports fourth-quarter 2016 results on Tuesday, Feb 28.In the preceding three-month period, the company delivered a positive earnings surprise of 40.00% due to lower operating
Time is catching up with Coca-Cola (KO) . For far too long, the soda giant has watched its core products lose favor while continuing to drag its feet when it comes to cost-cutting and revamping its business. What's an investor to do? The iconic soda company just released its latest batch of quarterly results, and the news was bad. Revenues dropped yet again, by some 5.9%. And volume for its core soda portfolio dropped about 2%. Profits were also under pressure. But it gets worse. Coca-Cola stated that it doesn't foresee a profit improvement in 2017. The company expects earnings to decline 1% to 4%. And some analysts think that might even be too optimistic. Now, with its core portfolio of products
There are stocks that are cheap for a good reason and those that are cheap only for a season. Stocks that are cheap for a reason could be value traps -- low-priced and likely to stay that way. Stocks that are cheap for a season, on the other hand, could make patient investors a lot of money over time. Three big biotech stocks appear to be incredibly cheap right now: AbbVie (NYSE:ABBV), Celgene (NASDAQ:CELG), and Gilead Sciences (NASDAQ:GILD). But why are these stocks inexpensive? AbbVie: Beating back the biosimilars AbbVie stock trades at less than 10 times forward earnings. That makes the biotech's shares practically a steal considering its prospects for growth. Wall Street analysts project
A project of Google-parent Alphabet (GOOGL) has filed a suit against Uber, after a botched email exchange revealed "striking resemblance" between the companies' self-driving car designs. Engineers at Google's self-driving car company, Waymo, were "apparently inadvertently" copied on an email from a company providing components for Uber's self-driving car project that allegedly revealed drawings of Uber's technology, according to a lawsuit filed in San Francisco court on Thursday. The drawings of the 3-D sensors contained Alphabet's trade secrets, the lawsuit claims.
If Vanguard, the second-largest U.S. issuer of exchange traded funds (ETFs), is known for one thing, it is low fees. And Vanguard does not sit idle when it comes to the expenses it charges on its index funds and ETFs. The Pennsylvania-based fund giant regularly reduces what are already among the industry's lowest fees, a tradition that continued Friday when it unveiled lower fees for 68 additional mutual fund and ETF shares. The newly lowered fees will result in savings of $105 million for investors, according to a Vanguard statement. A broad swath of Vanguard's international ETFs saw modest fee reductions. For example, the Vanguard FTSE Emerging Markets ETF (VWO), the largest emerging markets
In a story Feb. 23 about a meeting that President Donald Trump held with two dozen manufacturing executives, The Associated Press referred incorrectly to Doug Oberhelman as the CEO of Caterpillar Inc. Oberhelman is the current chairman and former CEO of Caterpillar. WASHINGTON (AP) -- President Donald Trump brought two dozen manufacturing CEOs to the White House on Thursday and declared their collective commitment to restoring factory jobs lost to foreign competition.
Sears Holdings Corp. (SHLD) is a wheel that never stops turning. Each time investors write off the struggling department store, hedge fund manager and Sears CEO Eddie Lampert pumps some more money into the company in order to continue funding his turnaround plan. More recently, Sears announced a restructuring plan in the hopes of shaving more costs. The road ahead for Sears is fraught with uncertainty, however. Sears is trimming its assets in order to have more liquidity to restructure the company. Stanley Black & Decker (SWK) has already acquired the well-known Craftsman tools brand from Sears for $525 million. Combine that with the company's sale-leaseback transaction with CBL & Associates,
Earlier this week, Apple's stock hit an all-time high of $136.68 and kept trending upwards from there. Friday's SEC filing does not mention Gore's stock sales being part of a so-called 10b5-1 plan, the trading plans that company insiders typically use to sell shares at regular, pre-determined intervals.
It’s not news that department stores and mall brands are struggling, and this morning, another retailer added itself to the list of those taking major cost-cutting measures in order to survive. J.C. Penney has just announced that it will close between 130 and 140 stores and two distribution centers, and lay off about 6,000 employees, according to multiple outlets. The store closures make up 13 to 14 percent of its total brick-and-mortar locations, while the 6,000 workers who will be offered buyouts include those in the retail, supply chain, and corporate departments.