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Jan
27

NLRB Demands Companies Turn Over Employee Contact Info

By | Business

NLRB Thugs

Undaunted by the constitutionally-questionable recess appointment of three members to Barack Obama’s National Labor Relations Board, union attorney and current NLRB chairman Mark Pearce declared in an Associated Press interview that he and his union comrades are continuing their assault on the 93% of private-sector employees who are union-free.  In fact, if Obama’s union appointees have their way, all employees who are targeted for unionization will have their employers forced to turn over their home telephone number and e-mail addresses to unions. Ever since the 1960s, when unions have targeted companies for unionization through a NLRB-supervised election, employers have been … [Read more...]

Jul
19

Dow Jones Industrial Has Best Session Of 2011 Closing Up 202.26

By | Business, Videos

wall street bullish

Stocks posted impressive gains on Tuesday, following a myriad of good news including optimism that Washington might be approaching a deal of extending the U.S. debt ceiling. The Dow Jones industrial average closed at 12,587.42, up 202.26 points or 1.6 per cent. The S&P 500 closed at 1326.73, up 21.29 points or 1.6 per cent. The gains began early in the day, after investors began digesting the latest round of quarterly earnings.  President Obama’s endorsement of a Senate plan to cut the deficit – seen as a precursor to an agreement among politicians to raise the U.S. debt ceiling – gave stocks an extra push. Apple Inc. rose 0.8 per cent ahead of its quarterly earnings, … [Read more...]

Jul
18

Investors Flock To Gold As Dow Jones Tumbles 94.57 On Fear Of European Debt Crisis And U.S. Debt Limit

By | Business, Videos

Gold

Stocks rebounded from their afternoon free fall tumbling as low as 174 points on Monday, leaving major U.S. indexes down for the day but above their earlier lows as investors continue to be unnerved over the European debt crisis and wrangling in Washington over extending the U.S. debt ceiling. The Dow Jones industrial average closed at 12,385.16, down 94.57 points or 0.8 per cent. The broader S&P 500 closed at 130.44, down 10.70 points or 0.8 per cent. The declines were broad and hit economically sensitive stocks the hardest, reflecting concerns among investors that the global economy is at risk should authorities fail to contain the two major debt crises.  Bank of … [Read more...]

Jul
13

Moody’s Places U.S. On Review For Credit Rating Downgrade

By | Business, Politics

moddy's1

On Wednesday the U.S. learned the federal deficit hit $971 billion for the first nine months of the fiscal year, and Moody's had put America on notice that its credit rating is now at risk.  This happened while talks on extending the U.S. borrowing limit were going on at the White House., with President Obama storming out of the meeting. For as long back as credit ratings have been in existence, nearly a century, the United States has always had the top rating-- AAA.  It has been a reflection of our countries financial strength and a source of enduring pride.  But tonight the U.S. faces a serious threat to that rating because of the out of control national debt, grown nearly $5 … [Read more...]

Jul
12

Moody’s Reduces Ireland To Junk Status, U.S. Stocks Continue To Fall

By | Business, Videos, World

ireland euro

Moody’s cut Ireland’s bonds to junk status on Tuesday and warned of further downgrades as the euro zone economy struggles to pull out of a financial crisis. Moody’s said it had reduced Ireland’s government debt ratings by one notch, to Ba1 from Baa3, saying there was a ‘growing possibility’ that the country would need more bail-out aid in late 2013. Last week, Moody’s lowered Portugal’s debt rating to junk status, sparking fierce criticism from EU leaders and calls for a ban on rating agency decisions for countries under internationally approved rescue packages, and Greece continues to try and avoid default on its debtors through unpopular austerity measures.  When you … [Read more...]

Jul
11

Stocks Tumble On Monday From Europe Debt Crisis and U.S. Debt Talks Stalemate

By | Business, Politics, Videos

Stock Market Slide

Stocks slid sharply Monday as concerns about the euro zone's continued debt crisis, reelings from June jobs report on Friday and the White House debt ceiling stalemate made investors sell, the biggest one day market drop in over a month. The Dow Jones Industrial Average slid 151.44 points, or 1.2 percent, to close at 12,505.76, The Nasdaq dropped 57.19 points, or 2 percent, to finish at 2,802.62 and the S&P 500 lost 24.31 points, or 1.8 percent, to end the session at 1,319.49. Whispers on Wall Street of "the recovery never really ending" were heard Monday with so many negative indicators pointing to at least double dip recession or worse yet the so-called economic recovery was a … [Read more...]

Jul
08

June Jobs Report Cause For Friday Stock Sell Off

By | Business, Videos

stocks fell

Stocks fell sharply after the U.S. Bureau of Labor Statistics reported that U.S. employers created the fewest number of new jobs in nine months, 18,000 for June, a fraction of what the White House had expected causing the unemployment rate to rise to 9.2%, it's highest level in 2011. The drops erased most of the stock market's gains for the week. The Dow Jones industrial average fell 62 points, or 0.5 percent, to close at 12,657 Friday, the S&P 500 lost 9, or 0.7 percent, to 1,344 and the Nasdaq composite dropped 13, or 0.5 percent, to 2,860, its first loss in two weeks. Volume was lighter than average at 3.1 billion shares. … [Read more...]

Jul
08

June Unemployment Rises to 9.2%

By | Business, Politics

june unemployment

The U.S. Bureau of Labor Statistics reported job creation for June practically stalled as the economy added an anemic 18,000 jobs, pushing the unemployment rate up to 9.2%. The private sector accounted for 57,000 new jobs, but the total was dragged down by 39,000 public sector layoffs. This dismal report comes after a similar disappointing rise in joblessness in May, which raised concerns about the economic recovery touted by President Obama.  As if thing weren't bad enough, the latest report revised the May and April numbers downward by 44,000 combined jobs. President Obama is scheduled to discuss the latest figures at 10:35 AM Friday, but if his chief campaign strategist, David … [Read more...]

Jul
06

Moody’s Downgrades Portugal’s Credit Rating, Euro Zone Further Damaged

By | Business, In Other News, World

Portugal Flag

Moody's downgraded Portugal's debt rating on Tuesday to "junk status" as the rating agency believes there is an increased risk that Portugal could default on payment to its bond holders. This further ignites those worried that trouble in the euro zone is deep and contagious. This caused the debt-laden Iberian country to follow Greece into junk territory below investment grade. Portugal in April became the third euro zone country to request a bailout, after Greece and Ireland. "There was a growing risk that Portugal will require a second round of official financing before it can return to the private market, Moody's said, and the increasing possibility that private sector creditor … [Read more...]

Jul
02

Dow Jones Finishes 650 Up For The Week

By | Business, In Other News

wall street bullish

The Dow Jones Industrial showed no signs of being concerned about the game of chicken Washington lawmakers are playing with the debt ceiling, record unemployment, impotent housing market and all the other dismal economic indicators as it finished its best one week session in more than 2 years finishing up more than 648.19 points. This week saw an ebullient rally in the stock market, with the S&P 500 rising by 5.6%, erasing in one week more than 70% of the correction which the U.S. stock market has endured since the end of April,” noted David Kelly, chief market strategist at J.P. Morgan Funds. … [Read more...]

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