Commodities and Precious Metals Become Investor Havens
As investors and businesses pull back due to the dismal national and global economic forecasts, commodities and precious metals become investor havens. Silver is pushing against the $30 an ounce mark again and gold is moving up, settling in at the mid $1600+ an ounce range. While investors showed a little love for stocks last [...]
Billionaire Warren Buffett says it’s unlikely that the U.S. economy will fall into another recession
Neither side seems to get it! America is in a recession, not headed for one… What recovery are these people talking about? Here’s another economic spin from someone who should know better. Billionaire Warren Buffett says it’s unlikely that the U.S. economy will fall into another recession, calling the chances “very low.” Buffett, the chairman [...]
Pandora Reports Better Than Expected Revenue
(Oakland, CA) – The online music service Pandora is finding financial success that’s better than expected. Pandora reported yesterday that total revenue for the first quarter of this year was up 58-percent. The company based in Oakland, California has been operating for a decade without seeing a profit but now expects revenue this year to [...]
Americans Getting By On Credit Cards
Millions of Americans are turning to credit cards to make ends meet. A new report from the think tank Demos shows that over the past year, 40-percent of low- and middle-income households used credit cards to pay basic expenses such as rent, mortgages, groceries, utilities and insurance. A senior policy analyst for the organization, Amy [...]
Senate Probes JP Morgan Trading Flap
(Washington, DC) – Lawmakers in the Senate are looking into JP Morgan’s recent two-billion-dollar trading flap. In a hearing of the Senate Banking Committee, top federal regulators said they first learned about the flap through the media. The company recently acknowledged losing two-billion dollars in trading ventures, sending shockwaves through Wall Street. South Dakota Democrat [...]
Big-beer company’s move points to improved economy
Another sign that Albuquerque’s economy may be recovering from the recession – the biggest industrial construction project in years. Admiral Beverage Corporation, a major beer and soft drink distributor, plans to build a new 219,000 square-foot warehouse at Rio Bravo and Prince in the South Valley. It will be the biggest industrial construction job since [...]
Facebook IPO Fails to Impress
It was a tepid debut for one of the largest and most closely watched initial public offerings. More than 30 brokerages and banks were involved in the offering, which saw a nearly 571 million shares change hands on Friday—a record for a stock debut. After an attention-grabbing half-hour delay to start its initial public offering, [...]
JPMorgan Chase Shareholders Meeting Today
J.P. Morgan Chase’s annual shareholders meeting today in Tampa, Florida will be anything but routine, just days after CEO Jamie Dimon announced massive trading losses. The bank’s longtime chief investment officer, Ina Drew, resigned on Monday; the first casualty of a staggering two-billion dollar trading loss that Dimon has blamed on “taking far too much [...]
Sony Loses Record $5.7 Billion
(Undated) – Sony Corporation has rung up a fourth straight year in the red, and this time it’s the electronics giant’s worst year ever. Sony showed a five-point-seven-billion dollar loss for the fiscal year that ended in March. Bad as it was, the loss could have been worse. Sony expected to have six-point-four billion dollars [...]
Facebook and Mobile Usage Not Profitable
Facebook Inc. said the number of people logging into the social network is continuing to grow more quickly than the number of ads delivered. The company said it is in part because more people are using Facebook on mobile devices, where it shows a very small number of ads. It implies that Facebook has room [...]