Posts Tagged ‘Economy’
There are two professionals every business will need early on: an accountant and a lawyer. A good business attorney will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright and trademark advice to formal business incorporation and lawsuits and liability.
It can be argued that technology stimulates growth and efficiency in many areas of business and the economy. Technology based portfolios help companies and advisers focus on concerns of the clients by making all of the relevant data and information more easily accessible. The use of social media brings mixed reactions. Although it helps to reach younger audiences, there is a concern about the uncontrolled perception of comments, posts, and links.
For the full article from the New York Times, click here: Technology’s Impact on the Value of Financial Advice
The mortgage giants Fannie Mae and Freddie Mac continue to astound — and not in a very encouraging way.
On an average day, Fannie Mae and Freddie Mac stock have a combined volume of about 25 million shares. If the stocks were back on the New York Stock Exchange, they would be top-traded stocks.
Until a few months ago, the shares of the two companies traded like penny stocks in a range of 20 cents to 30 cents. That’s a far cry from 2004, when both stocks were trading over $70 a share.
The Labor Department recently released new unemployment figures, and the results are not “less than desirable.” Close to 385,000 people applied for unemployment benefits last week, up from the 4 week average 354,250. This is the third straight week of increases.
This comes right on the heels of the the news that 663,000 people dropped out of the labor force. But The White House is optimistic however, citing a report released today by the Bureau of Labor Statistics which shows that private sector businesses added 95,000 jobs last month.
See the USAToday article here.
With a population of nearly 300,000 people, the city of Stockton has now become the most populous city to file for Bankruptcy in the United States. On Monday, a judge accepted Stockton’s application for bankruptcy, which would allow it to start Chapter 9 proceedings.
According to US Bankruptcy Judge Christopher Klein, “It’s apparent to me the city would not be able to perform its obligations to its citizens on fundamental public safety as well as other basic government services without the ability to have the muscle of the contract-impairing power of federal bankruptcy law.”
Creditors are upset with this decision because Stockton will most likely not have to pay their debts back in full. This case is being heavily scrutinized because it could set a precedent for other cities to follow.
CNBC has more about the Stockton Bankruptcy Here.
The United States Senate passed its first budget in four years Saturday by a vote of 50-49. This budget proposes to increase tax revenue by $1 Trillion. However, it does little to reduce the overall federal deficit. This plan will reduce the deficit by $1.85 Trillion over the next 10 years, compared to Congressman Paul Ryan’s plan to reduce the deficit by $4.6 Trillion in the same period. Neither of these budget proposals are likely to pass the opposing house, but this may pave the “pathway to compromise.”
To read more, see Fox Business News