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Business/Economy (News/Activism)

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  • Must-know: Tighter-than-expected oil supply in the future

    08/21/2014 4:09:40 PM PDT · by ckilmer · 15 replies
    marketrealist ^ | Aug 21, 2014 10:08 am EDT | Russ Koesterich, CFA
    Must-know: Tighter-than-expected oil supply in the future By Russ Koesterich, CFA - Disclosure • BlackRock  • Aug 21, 2014 10:08 am EDT First, here’s a quick look at my expectations for oil supply and demand. Currently, oil prices remain elevated because global demand has continued to climb, despite slower growth in China (FXI), and supply overall has been unexpectedly constrained by both geology and geopolitical unrest. Looking forward, oil supply is likely to remain constrained and oil demand is likely to continue to grow.Oil supply: There’s a good chance that future oil supply may be tighter than expected. Currently, oil prices...
  • The Medicare Money Pit of Waste, Fraud, and Abuse

    08/21/2014 3:41:42 PM PDT · by Kaslin · 2 replies
    Townhall.com ^ | August 21, 2014 | Daniel J. Mitchell
    Since I primarily work on fiscal policy, I normally look at the budgetary impact of entitlement programs. And the numbers are very grim.But I’m also an economist, so I periodically comment on how government intervention undermines the efficient functioning of markets in the healthcare field.Last but not least, I’m also a taxpayer, so I can’t resist occasionally expressing my frustration at how the government is a giant pinata of waste fraud and abuse. And government-run healthcare seems especially vulnerable.Huge amounts of money bilked from taxpayers for supposed counseling sessions financed by Medicare and Medicaid.Medicare getting scammed to pay for plastic surgery.Russian...
  • Without Real Job & Wage Growth, Fed Will Keep Rates at Zero

    08/21/2014 3:12:27 PM PDT · by Kaslin · 9 replies
    Townhall.com ^ | August 21, 2014 | Charles Payne
    The Fed released the minutes from its last gathering, and this report should move the market. The big question of the day is: what is the level of internal dissent from official policy and Chairman Yellen? Some market observers think that the Fed is ready to hike interest rates based on the last four times they reversed course. I actually see the exact opposite, as real unemployment (U6) is higher than those other times and inflation is officially at its second lowest point. Rate Hike Triggers U6 PCE Fed Funds Feb 4, 1994 11.4 3.19 2.4 March 25, 1997 9.1...
  • Joshua DuBois to unemployed African-Americans: Have you considered a career in poetry?

    08/21/2014 2:52:03 PM PDT · by ObamahatesPACoal · 19 replies
    Joshua DuBois is the author of The Presidents Devotional: The Daily Readings that Inspired President Obama and Stories of Faith in the White House. Dubois headed the Office of Faith Based and Neighborhood Partnerships during Obamas first term. And hes a buffoon Chris Matthews: What about the kid who begins to start thinking about his life in his mid-teensand hes thinking, where am I going in this world? (SNIP) Dubois: Im gonna say to him, tap into your inherent creativity and your inherent strengths. Cuz he may be a poet. He may express that poetry in terms of rap music....
  • Zimbabwe economy takes another dive

    08/21/2014 2:40:16 PM PDT · by george76 · 11 replies
    ap ^ | FARAI MUTSAKA
    Several million Zimbabweans left for South Africa and other countries during past economic turmoil. Now, a year after the re-election of longtime leader Robert Mugabe, the country is facing new financial hardships. Zimbabwe's unemployment rate is estimated at 80 percent, pushing many people try to earn a living as street traders.
  • Investors cheer: S&P 500 hits all-time high [again!]

    08/21/2014 2:28:12 PM PDT · by SeekAndFind · 10 replies
    CNN Money ^ | 08/21/2014 | Heather Long
    If you kept your money in the stock market this summer, you're likely feeling pretty smart now. The start of August was rough for stocks as the Russia-Ukraine standoff, the Israel-Gaza conflict and terrorist group activity in Iraq all flared again. While serious problems remain in each of these regions, their impact on the U.S. economy so far has been limited. A stock market bounce back is in full effect. On Thursday, the Dow closed above the 17,000 mark for the first time since July 24. Not to be outdone, the S&P 500 set a new all-time high of just...
  • Tourism tanks in Crimea under the Russian flag

    08/21/2014 12:13:37 PM PDT · by Tailgunner Joe · 6 replies
    AFP ^ | August 8, 2014
    Restaurant owner Galina Anchukova looks out across the seaside promenade in sunny Feodosia, with its straggle of strolling tourists, and sees a wasted financial opportunity. "The season is ruined, there is nobody here," she said. The first summer season in Crimea under the Russian flag has been a disappointment, local business owners complain, blaming fighting in eastern Ukraine for their troubles. The Crimean peninsula was once the pearl of Soviet vacation spots, with hotels and spas dotting towns along the Black Sea coast. Russia annexed the majority Russian-speaking region from Ukraine in March after a pro-Western government took power in...
  • Pelosis home city exempted from water restrictions imposed on rural farmers

    08/21/2014 11:34:08 AM PDT · by george76 · 27 replies
    Washington Times ^ | August 20, 2014 | Valerie Richardson
    The Endangered Species Act has wreaked havoc for decades on rural communities, but a newly filed lawsuit could force San Francisco urbanites like House Minority Leader Nancy Pelosi to share their pain. A federal complaint filed this week contends that the Hetch Hetchy Project, which supplies water to San Francisco and the Bay Area, has unfairly enjoyed an exemption from the severe cutbacks required in rural California in order to save endangered fish species. Craig Manson, who heads the Center for Environmental Science, Accuracy and Reliability (CESAR) in Fresno, said the lawsuit is aimed at addressing the double standard that...
  • Ferguson and the War on Black America

    08/21/2014 10:30:55 AM PDT · by 2ndDivisionVet · 36 replies
    The Progressive ^ | August 21, 2014 | Glen Ford, executive editor, Black Agenda Report
    The corporate media, reflecting their owners anxiety at the failure of Black people to revert to a state of passivity in Ferguson, Missouri, have arrived at a general consensus on two counts: the need to demilitarize the police (fewer bullets, smaller armored vehicles?) and, more immediately, to re-establish some semblance of calm (as in comatose) in the neighborhood and beyond. Corporate-attuned Black powerbrokers and politicians deliver essentially the same message, counseling (quiet) introspection and a search for solutions (diversions) to the historical oppression in which they are deeply complicit. But first, tensions must be reduced, to diffuse the confrontation ...
  • Labor Organizer Calls for Cops to Suffer in Ferguson

    08/21/2014 10:07:20 AM PDT · by 2ndDivisionVet · 20 replies
    The Washington Free Beacon ^ | August 21, 2014 | Staff
    A prominent Philadelphia union official said that police officers should suffer in the wake of the Ferguson riots. Stewart Acuff, organizing director of the National Union of Hospital and Healthcare Employees local 1199, says police should suffer in order to win justice for Mike Brown, the 18-year-old unarmed man shot dead in a small Missouri city. Stewart Acuff @stewartacuff The cops are pawns who should suffer for what they did. #TrayvonMartin #MikeBrown #EricGarner #inequality 9:53 AM - 18 Aug 2014 In addition to his current local organizing role, Acuff is a former organizing director for the AFL-CIO, according to the...
  • Microsofts Windows 9 Unveil Said To Be Coming September 30

    08/21/2014 9:54:03 AM PDT · by ConservingFreedom · 81 replies
    TechCrunch ^ | August 21, 2014 | Darrell Etherington
    Windows 9 has been leaked, and seems to show a backing away from the aggressively touch-focused Windows 8, with a mini start menu and dropping of the Charms bar, but well get a better look September 30, according to the Verge. The blog reports Microsoft is planning an official unveiling of whats next for its desktop OS for that date, with a technology preview available for early adopters following quickly after that. The upcoming Windows 9 release is codenamed Threshold, and expectations are that well see it arrive for the general public as a stable release sometime early next year....
  • WaPo Columnist Slams Opponents of Ferguson Looting: Think 'Personal Property Worth More Than Life'

    08/21/2014 9:25:22 AM PDT · by 2ndDivisionVet · 44 replies
    NewsBusters ^ | August 21, 2014 | Jeffrey Meyer
    Clinton Yates, Washington Post online columnist and commentator for Washington D.Cs WTOP radio station, decided to wade into the controversy in Ferguson by slamming those who oppose the looting and violence in the wake of Michael Browns death. On Thursday, August 21, during his My Take with Clinton Yates segment on WTOP, which is the main news radio station for the political class in Washington D.C., Yates insisted that someone who says looting is never acceptable is implicitly saying that personal property is worth more than life itself. Listen to MP3 audio here.] The Post columnist began his rant by...
  • Refracking brings 'vintage' oil and gas wells to life

    08/21/2014 9:24:35 AM PDT · by ckilmer · 23 replies
    samachar ^ | Aug 20, 2014,
    Refracking brings 'vintage' oil and gas wells to life Aug 20, 2014, 10.43AM IST (The development highlights…) HOUSTON/WILLISTON, NORTH DAKOTA: A fracking boom isn't enough for U.S. oil and gas producers - they're now starting the re-fracking boom.Wells sunk as little as three years ago are being fracked again, the latest innovation in the technology-driven shale oil revolution. Hydraulic fracturing, which has upended global energy markets by lifting U.S. crude oil output to a 25-year high, has been troubled by quick declines in oil and gas output. The development highlights how producers must constantly invest and tinker, both to...
  • Turn natural gas into gasoline for $1 per gallon

    08/21/2014 8:50:09 AM PDT · by ckilmer · 69 replies
    peakoil.com ^ | August 21, 2014
    Turn natural gas into gasoline for $1 per gallon The clear liquid flowing from a collection of pipes and wires in a Hayward industrial park smells just like gasoline, and for all practical purposes, it is.But it wasn’t made from crude oil. Instead, it came from natural gas, the fuel whose sudden abundance in America is reshaping the country’s energy landscape.Siluria Technologies says it can produce large quantities of gasoline, diesel, jet fuel and chemicals at a lower cost than traditional refineries and chemical plants. At today’s natural gas prices, Siluria’s technology could make gasoline at roughly $1 per gallon, according to...
  • Medtronic 1Q tops analysts' views, reaffirms Covidien bid

    08/21/2014 7:19:14 AM PDT · by TurboZamboni
    Pioneer Press ^ | 8-20-14 | Michael Calia
    Medtronic Inc. said Tuesday that it is "fully committed" to completing its deal to buy Covidien PLC, which has come under scrutiny over a controversial tax tactic that has drawn criticism from U.S. government officials. The Fridley-based company also posted fiscal first-quarter results that exceeded analysts' expectations as the medical-devices maker reaped strong revenue from its U.S. operations. "Our growth was broad-based across businesses and geographies," chairman and chief executive Omar Ishrak said in a news release. "I was especially pleased that our innovation pipeline is delivering strong results, particularly in the U.S., which had its highest revenue growth performance...
  • US Unemployment Claims Fall to 298K

    08/21/2014 7:00:58 AM PDT · by SeekAndFind · 42 replies
    Epoch Times ^ | 08/21/2014
    Fewer people applied for U.S. unemployment benefits last week, another sign the job market is improving. The Labor Department said Thursday that weekly claims for jobless aid fell 14,000 last week to a seasonally adjusted 298,000. The prior weeks figures were revised up slightly to 311,000. The less-volatile four-week average rose 4,750 to 300,750. It remains close to levels that predate the Great Recession of 2007-2009. Applications are a proxy for layoffs. Employers arent just keeping workers. Theyre hiring at a pace last seen during the tech boom. They added 209,000 jobs in July, the sixth straight month that job...
  • Treasury looks to stop 'corporate deserters' on its own

    08/21/2014 5:10:22 AM PDT · by W. · 26 replies
    The Washington Examiner ^ | August 21, 2014 | Joseph Lawler
    President Obama doesn't have the authority to simply stop the companies he calls corporate deserters from taking up legal residency in low-tax countries. The Obama administration began examining its ability to take executive action to address corporate inversions without Congress because it lacks the support of Republicans. "Unless the U.S. corporate tax rate is reduced to 10 percent or less," Harvey told the Examiner, "it will still be beneficial for U.S. [multinational corporations] to invert."
  • Property Tax Corruption: Taxation without Representation in contemporary American government

    08/21/2014 4:54:59 AM PDT · by SeekAndFind · 7 replies
    American Thinker ^ | 08/21/2014 | Michael Bargo, Jr.
    If anything approaches “taxation without representation” in contemporary American government, it is property taxation.  This is because as a practical matter voters – as property owners – have no say in the amount of property taxation they endure.Harold Lasswell, a prominent U. of Chicago political science professor, once said that the country is made up of two groups: the political elites and the masses.  The exploitation of the masses is now being achieved through property taxation. Since political elites have, in most counties, complete control over issues of assessments and property taxes, they have the opportunity to exploit this power...
  • Hostess Twinkie factory near Chicago closing [400 Jobs Lost, Obama Goes Golfing]

    08/21/2014 4:38:48 AM PDT · by SoFloFreeper · 30 replies
    CNBC ^ | 8/20/14
    The Schiller Park, Ill., bakery, where Twinkies were invented in 1930, will close according to an announcement by Hostess Brands on Wednesday....
  • Russia Shuts Moscow McDonald's Restaurants

    08/20/2014 10:09:48 AM PDT · by McGruff · 25 replies
    Sky News ^ | 8/20/2014
    Russia's food safety watchdog has suspended operations at four McDonald's restaurants in Moscow over alleged sanitary law breaches.
  • Dying town centers seek the miracle cure (Germany)

    08/21/2014 1:34:28 AM PDT · by Olog-hai · 7 replies
    TheLocal.de ^ | 20 Aug 2014 15:50 GMT+02:00 | Tomas Urbina
    Home to two thirds of Germanys population, many of its small cities and towns are struggling to revive their declining centers. [] Big box stores on their outskirts, online shops and the proximity of larger, better serviced cities have all eaten away at the share of the retail market available to businesses that once thrived in smaller towns, says the expert in trade and retail at Niederrhein University. In Delmenhorst, its a perfect storm. The retiree Bieler has watched big retail chains like Kik and Kaufland set up and thrive on the outskirts. And hes seen how people gravitated more...
  • Wasserman Schultz visits Hobby Lobby store - to urge a boycott

    08/20/2014 10:25:31 PM PDT · by ConservativeStatement · 29 replies
    South Florida Sun-Sentinel ^ | August 20, 2014 | Anthony Man
    Congresswoman Debbie Wasserman Schultz of Weston, the chairwoman of the Democratic National Committee, stopped at a Hobby Lobby store in her district on Wednesday not to pick up some craft supplies for one of her kids school projects, but to alert people to the stores existence and urge people not to shop there. I want people to know that this Hobby Lobby is here and they should vote with their purses and their pocketbooks, and women should not shop here. If you didnt know this Hobby Lobby was here before, know it now and dont shop here. They dont...
  • Report: EPA Exceeds Its Authority With Proposed Rules

    08/20/2014 8:15:56 PM PDT · by Tolerance Sucks Rocks · 10 replies
    The Daily Caller ^ | August 19, 2014 | Peter Fricke
    Congress should use the appropriations process to reassert its authority over the Environmental Protection Agency, according to a Heritage Foundation issue brief released Tuesday.The report, written by scholar Daren Bakst, identifies three issues on which the EPA has proposed rules and regulations that exceed its authority. In all three cases, Bakst recommends that Congress prohibit the agency from using its funding to implement the proposals. (RELATED: EPA Overrides Congress, Hands Over Town to Indian Tribes)According to the report, “the EPA is using the regulatory process to require greenhouse gas emission reductions even as Congress has been unwilling to take such...
  • 57 Percent of Americans Say Only Kids Who Win Should Get Trophies

    08/20/2014 5:51:15 PM PDT · by TigerClaws · 50 replies
    The latest Reason-Rupe poll finds that when it comes to kids and their trophies, 57 percent of Americans think only the winning players should receive them. Another 40 percent say all kids on a sport team should receive a trophy for their participation. The desire for every kid to get a trophy strongly correlates with political beliefs. Fully 66 percent of Republicans want only the kids who win to receive trophies, while 31 percent say all kids on the team should receive them. In contrast, Democrats are evenly divided with 48 percent who say all kids, and another 48 percent...
  • Truth and Justice Needed in Ferguson, MO [Nightly LIVE RIOT thread]

    08/20/2014 5:08:32 PM PDT · by 2ndDivisionVet · 165 replies
    The following statement was released by Keith Kelleher, president of SEIU Healthcare Illinois, Indiana, Missouri & Kansas, in response to the shooting of Ferguson, MO, resident Michael Brown and the unrest that is occurring there:The aftermath of the tragic shooting of Michael Brown in Ferguson, Missouri, reveals the urgent need for justice to prevail in order to bring a level of calm back to the community. The initial lack of information coming from the Ferguson Police Department and its militarized response to protesters has clearly erased any faith in local authorities to uncover the truth. To that end, the members...
  • Casino workers turn to prayer to save their jobs (Atlantic City)

    08/20/2014 5:15:24 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Aug 20, 2014 8:03 PM EDT | Wayne Parry
    Theyve turned to politicians, bureaucrats, businessmen and union reps to try to save their jobs at three Atlantic City casinos scheduled to close soon. Now, hundreds of soon-to-be unemployed dealers, cocktail servers and hotel workers are turning to what many say could be their last, best chance. Were praying for God to open new doors to them, said Rev Eric McCoy, president of the Atlantic City Fellowship of Churches. Clergy members and the main casino workers union organized a rally and prayer service Wednesday night for the nearly 8,000 workers who will be jobless when Revel, the Showboat and Trump...
  • AFSCME Stands in Solidarity with Ferguson Community

    08/20/2014 4:36:13 PM PDT · by 2ndDivisionVet · 11 replies
    AFSCME Pres. Lee Saunders issued the following statement in regards to the situation in Ferguson, Missouri: The thoughts and prayers of our union, AFSCME, are with the family of Michael Brown. As parents, as community members, and as members of a union that works each day for economic and social justice, our hearts go out to them. Our union stands in solidarity with the entire Ferguson community. And we stand with our labor and faith allies to urge a peaceful resolution to this tragic situation.
  • Newt Gingrich : 2014-08-21 : President Obama's Golf: The Real Problem

    08/20/2014 4:04:25 PM PDT · by Patton@Bastogne · 24 replies
    Newt Gingrich ^ | 2014-08-21 | Newt Gingrich
    . August 21, 2014 Newt Gingrich : President Obama's Golf: The Real Problem ===================================================== A lot of people have commented on and made fun of the frequency of President Obamas golfing. The more I watched President Obama, however, the more I concluded the problem was what was not happening between golf rounds. Two earlier presidents, Eisenhower and Reagan, golfed frequently but their presidencies were stunningly successful. The difference seemed to be that Eisenhower and Reagan were really effective when they weren't golfing. President Eisenhower was a very serious golfer who had been a varsity football player at West Point. Eisenhower...
  • Daily Beast Notes Asian-Owned Businesses Bearing Brunt of Looting in Ferguson

    08/20/2014 3:23:31 PM PDT · by 2ndDivisionVet · 80 replies
    NewsBusters ^ | August 20, 2014 | Ken Shepherd
    Here's a somewhat racial angle to the Ferguson, Mo., saga that you probably won't see MSNBC pick up on. The Daily Beast's Tim Mak today reported on "Ferguson's Other Race Problem: Riots Damaged Asian-Owned Stores." "Asian-Americans own a number of the stores lining West Florissant Avenue, where more than 20 businesses have suffered damage in the wake of Michael Browns killing," Mak noted, adding that "At least five of these stores are Asian-American-owned, according to local sources and business records. Just 0.5 percent of Ferguson is of Asian descent, according to 2010 U.S. Census data." While he made clear that...
  • How Ferguson Highlights the Dangers of For-Profit Policing

    08/20/2014 2:48:12 PM PDT · by nickcarraway · 30 replies
    Slate ^ | 8/18 | Jordan Weissmann
    Jeff Smith, a New School professor and former Missouri state senator, had a sensational op-ed in this weekends New York Times that dived into the economic forces that have helped shape the strife in Ferguson. His big point is that the local police have a strong financial incentive to arrest, ticket, and otherwise harass the citys black residents for minor offenses, because thats how the department funds its budget. How so? From Smith: St. Louis County contains 90 municipalities, most with their own city hall and police force. Many rely on revenue generated from traffic tickets and related fines. According...
  • MEC campaigns against new EPA regulations

    08/20/2014 2:34:35 PM PDT · by Oldeconomybuyer · 1 replies
    Mohave Valley News ^ | August 20, 2014 | By NEIL YOUNG
    BULLHEAD CITY Theres no logic to proposed new regulations on coal-fired power plants by the federal Environmental Protection Agency, said Tyler Carlson, Mohave Electric Cooperative chief executive officer. Carlson spoke at the Bullhead Area Chamber of Commerce monthly luncheon, held at Mohave Community College. MEC is not against clean air, Carlson said. What were concerned about is the over-reach, the over-reaction, what were worried about is having rules and regulations that arent reasonable, that arent rational and that actually have collateral damage to them. The rules changes would shut down coal production in Arizona, driving up the cost of...
  • Leonardo DiCaprio fights 'carbon monster' in new eco-documentary

    08/20/2014 2:25:18 PM PDT · by Oldeconomybuyer · 60 replies
    Today ^ | August 20, 2014 | by Erin Quinlan
    Seems the Wolf of Wall Street has a few economic ideas for halting climate change. In a new documentary called Carbon, released online Wednesday, narrator Leonardo DiCaprio contends that trillions of dollars worth of fossil fuels are awaiting commercial extraction from the ground and that if we burn them, our planet is toast. Clocking in at under nine minutes, the short doesn't mince words: DiCaprio and climate scientists argue that coal, natural gas and other carbon-based forms of energy are a "monster" that has created catastrophic surges in the earths surface temperature. In response, some lawmakers around the world...
  • Idiot's Guide to Austrian Economics

    08/20/2014 1:14:38 PM PDT · by Kaslin · 7 replies
    Townhall.com ^ | August 20, 2014 | Mike Shedlock
    Congratulations go to Forbes columnist John Tamny and editor of Real Clear Markets for producing the "Idiot's Guide to Austrian Economics'. Ironically, that is not exactly what Tamny set out to do. The actual title of Tamny's article is "The Closing Of The Austrian School's Economic Mind". Point by Point Look Tamny: "Its well known that some Austrians have a major problem with 'fractional reserve banking' whereby banks pay for liabilities (deposits) by virtue of turning those liabilities into assets (interest paying loans). Instead, they borrow money from depositors seeking a return on their savings, and who dont need access...
  • Another Victory for the Laffer Curve, this Time over the Lifestyle Puritans

    08/20/2014 1:00:37 PM PDT · by Kaslin · 7 replies
    Townhall.com ^ | August 20, 2014 | Daniel J. Mitchell
    What do cigarettes and capital gains have in common? Well, they both start with the same letter, so maybe the Cookie Monster could incorporate them into his favorite song, but I’m thinking about something else. Specifically, both cigarettes and capital gains tell us something important about tax policy, the Laffer Curve, and the limits of political bullying. In both cases, there are folks on the left who disapprove of these two “c” words and want to penalize them with high tax rates. But it turns out that both cigarettes and capital gains are moving targets, so the politicians are grossly...
  • 7 Harmful Side Effects Pot Legalization Caused Colorado

    08/20/2014 12:29:30 PM PDT · by DouglasKC · 69 replies
    The Daily Signal ^ | 8/20/2014 | Cully Stimson
    SNIP As I reported a few weeks ago, some professors published a peer-reviewed article on the negative social costs to outright legalization. I noted that although overall traffic fatalities in Colorado have gone down since 2007, they went up by 100 percent for operators testing positive for marijuanafrom 39 in 2007 to 78 in 2012. (Colorado legalized marijuana for medical usage in 2009, before legalizing marijuana for other uses in 2012.) Furthermore, in 2007, those pot-positive drivers represented only 7 percent of total fatalities in Colorado, but in 2012 they represented 16 percent of total Colorado fatalities. This new report...
  • Mass Casulaties in Obama's War on War

    08/20/2014 11:22:26 AM PDT · by Kaslin · 14 replies
    Townhall.com ^ | August 20, 2014 | John Ransom
    Well now they have done it. They killed a priest. A high priest. A secular high priest. They killed a journalist I mean. “In the video released on Tuesday,” reports Asia News Channel, “an individual presumed to be [freelance journalist James] Foley - who was captured by militants in Syria in November 2012 - is seen on his knees in a desert landscape reading a statement asking his family to stop the US intervention in Iraq. A man standing next to him dressed in black with his face covered and holding a knife then says in a distinct British accent...
  • Thousands Of Firms Aren't Paying An "Obamacare Tax", IRS Audit Finds 24% Shortfall

    08/20/2014 9:37:29 AM PDT · by SeekAndFind · 8 replies
    Zero Hedge ^ | 08/20/2014 | Tyler Durden
    It appears Sen. Orin Hatch's comment that "everything from this ill-conceived tax's structure to its implementation has been a disaster," are coming true. As AP reports, an "Obamacare" tax on medical devices is falling short of its revenue target because thousands of companies aren't paying it, according to a government audit released Tuesday. An audit found the IRS received only 5,107 returns (against expectations of over 9,000) with a 24% shortfall in revenues. The tax is projected to generate $29 billion over the coming decade, so a 24 percent shortfall - if it were sustained - would be significant.As...
  • Target Reports Second Quarter 2014 Earnings (first rpt after NO GUN stance)

    08/20/2014 8:17:55 AM PDT · by DCBryan1 · 13 replies
    Target Inc. ^ | 20 AUG 14 | Target, Inc.
    MINNEAPOLIS--(BUSINESS WIRE)--Aug. 20, 2014-- Target Corporation (NYSE:TGT) today reported second quarter Adjusted earnings per share1 of $0.78, a decrease of 20.6 percent from $0.98 per share in 2013, and GAAP earnings per share of $0.37. In addition to operating results, second quarter GAAP earnings per share reflect: Net pre-tax data breach expenses of $111 million, or (11) cents per share2; Pre-tax early debt retirement losses of $285 million, or (27) cents per share2; Pre-tax impairment losses on undeveloped U.S. land of $16 million, or (1) cent per share, and; A (1)-cent impact related to the reduction of the beneficial interest...
  • Field Poll: Obamacare support in California grows

    08/20/2014 7:39:14 AM PDT · by Oldeconomybuyer · 25 replies
    Orange County Register ^ | August 20, 2014 | BY BERNARD J. WOLFSON
    California voters, who have always favored the Affordable Care Act by a large majority, now support it more strongly than ever, according to an opinion survey published Tuesday. A new Field Poll, conducted from late June to mid-July, shows that 56 percent of registered voters in the state favor the health reform law, also known as Obamacare, while 35 percent are opposed. The poll, sponsored by the California Wellness Foundation, was based on telephone interviews conducted from June 26 to July 19 in seven languages with 1,535 registered voters.
  • Ukraine conflict is draining economy, hampering reforms: PM Yatseniuk

    08/20/2014 7:35:13 AM PDT · by McGruff · 33 replies
    REUTERS ^ | 8/20/2014 | Natalia Zinets
    Ukraine's conflict with separatist rebels is draining the economy by the day and hampering efforts to implement reforms as required by an IMF bailout programme, Prime Minister Arseny Yatseniuk said on Wednesday. According to the terms of a $17 billion International Monetary Fund loan package, Ukraine must implement set reforms, but the country, which is virtually bankrupt and running wide external deficits, has had to divert substantial funds in its fight to contain the pro-Russia insurgency.
  • Chicago Tribune poll: Chicago voters split on luring Obama library

    08/20/2014 7:30:10 AM PDT · by Oldeconomybuyer · 15 replies
    Chicago Tribune ^ | August 20, 2014 | By Kim Geiger
    Voters in the city that launched President Barack Obama's political career are split over whether to put tax dollars into luring his presidential library to Chicago. Less than half of those surveyed in a Chicago Tribune poll 47 percent said they favored the idea of using tax money to attract or build the library, while 45 percent said they opposed it and 8 percent were undecided. There was a gap along racial lines: 61 percent of black voters polled were in support and 60 percent of white voters opposed. The survey was taken as the Barack Obama Foundation...
  • Ebola fears slowing tourist flow to Africa

    08/20/2014 7:24:44 AM PDT · by Oldeconomybuyer · 14 replies
    Reuters ^ | August 20, 2014 | By Joe Brock
    The Ebola outbreak in West Africa is putting off thousands of tourists who had planned trips to Africa this year, especially Asians, including to destinations thousands of miles from the nearest infected community such as Kenya and South Africa. The bulk of the cancellations are from Asia, which has had its own share of health crises, but visitors from the United States, Brazil and Europe have also scrapped their plans or delayed trips, they said. Besides tourism, Ebola fears are also hitting business travel and investment events in Africa, threatening the continent's image as a rising economic star.
  • Average Price of Ground Beef Hits All-Time High

    08/20/2014 5:47:09 AM PDT · by xzins · 69 replies
    CNS ^ | August 19, 2014 | Ali Meyer
    (CNSNews.com) The average price for all types of ground beef per pound hit its all-time high -- $3.884 per pound -- in the United States in July, according to data released today by the Bureau of Labor Statistics (BLS). That was up from $3.880 per pound in June. A year ago, in July 2013, the average price for a pound of ground beef was $3.459 per pound. Since then, the average price for a pound of ground beef has gone up 42.1 cents--or about 12 percent. Five years ago, in July 2009, the average price for a pound of...
  • Climate-Cooling Policies threaten Food Supplies

    08/20/2014 6:40:12 AM PDT · by rktman · 20 replies
    americanthinker.com ^ | 8/20/2014 | Viv Forbes
    A warmer, wetter climate with more carbon dioxide in the atmosphere would undoubtedly produce more plant growth and more food. However climate-cooling policies that claim to prevent global warming by throttling the use of carbon fuels will definitely reduce food supply and increase food prices. The promotion of ethanol for motor fuel is anti-food. This food for fuel program has absorbed significant quantities of corn, soy beans, sugar and palm oils. Consequently prices for ethanol crops are higher than they would otherwise be, encouraging farmers to convert land currently devoted to grazing animals and other food crops to growing more...
  • Target lowers outlook, reeling from data breach

    08/20/2014 5:37:51 AM PDT · by SoFloFreeper · 16 replies
    Marketwatch ^ | 8/20/14 | Anna Prior
    Target Corp. lowered its outlook for the year.... The big-box retailer, which also posted a 62% decline in earnings for its second quarter, has been trying to bounce back from the data breach over the holiday season. The company booked expenses tied to the fumble of $148 million in the latest quarter....
  • Job Turnover Data Show Lots Of Churning, Little Job Creation

    08/20/2014 4:59:25 AM PDT · by SeekAndFind · 4 replies
    IBD ^ | 08/20/2014 | EDWARD P. LAZEAR
    The government's latest survey of job openings and labor turnover implies that while the U.S. labor market has improved significantly since the recession, it is far from having recovered. The key determinant of labor market health is hiring, and hiring remains well below normal. The data-rich Job Openings and Labor Turnover Survey, or JOLTS, which Fed chair Janet Yellen is said to follow closely, reports monthly hires and separations, with the separation defined as the termination of an employment relationship for any reason. The hiring and separation numbers reveal important but little-known facts about how the U.S. labor market operates....
  • Ukraine factories equip Russian military despite support for rebels

    08/18/2014 6:26:10 AM PDT · by McGruff · 3 replies
    the washington Post ^ | August 15, 2014 | Michael Birnbaum
    Deep into a conflict that has sundered decades-old ties between Ukraine and Russia, Ukraine is still selling military gear over the border to its neighbor, Ukrainian defense industry officials say. Kievs pleas for an end to trade ties have run into strong resistance from workers at companies like Motor Sich, here in Ukraines industrial heartland, where 27,000 employees build engines tailor-made for Russian military helicopters and planes. Most senior executives here grew up as part of the same Soviet military-industrial club as their Russian peers. We have our own party, the party of Motor Sich, company spokesman Anatoliy Malysh said.
  • White House takes suggestions from business on immigration changes

    08/20/2014 3:58:24 AM PDT · by Zakeet · 12 replies
    CBS News ^ | August 19, 2014 | Rebecca Kaplan
    In addition to reviewing the deportation system of immigrants in the U.S. illegally, the Obama administration is weighing executive actions to change the legal immigration system in ways that could benefit businesses, the Wall Street Journal reports. [Snip] Mr. Obama is reportedly weighing unilateral steps he could take to defer deportations for anywhere from 550,000 to 4.4 million immigrants who are in the U.S. illegally, as well as providing some with work permits. The move is sure to draw harsh criticism from Republicans, who argued that they could not pass immigration reform in 2014 because the president cannot be trusted...
  • Why Is Obama Hiding ObamaCare Enrollment Data?

    08/20/2014 3:38:04 AM PDT · by IBD editorial writer · 12 replies
    Investor's Business Daily ^ | 8/19/2014 | IBD Staff
    Cooking The Books: It's been 110 days since the last "monthly" report on ObamaCare enrollment, when the president bragged that 8 million had signed up. What are they hiding? Since then, the administration's claim that 8 million enrolled for health care through an ObamaCare exchange has looked increasingly dubious. A Government Accountability Office report found that the enrollment numbers were unreliable because they haven't been reconciled with industry data. Insurers say that as many as one in five of those who signed up didn't pay their first premiums...
  • Carlsberg lowers profit outlook on fall in Russian sales

    08/20/2014 2:43:09 AM PDT · by wetphoenix · 3 replies
    Copenhagen (AFP) - Danish brewer Carlsberg cut its annual profit guidance on Wednesday and said economic uncertainty in Russia, its biggest market, could prompt it to close some breweries. Clouds over the outlook in some parts of eastern Europe had cut consumption of beer, the company said. "Due to the recent macro events the consumer sentiment and the outlook for some of the economies in eastern Europe are becoming increasingly challenging and uncertain," the company said in its quarterly earnings statement. "Consequently, we believe that the beer category will deteriorate further in the second half of the year," it added....