The not so happy holiday retail sales is going to lead to a lot of store closings. Here is a preliminary list of what is being expected by analyst. Should be a lot of prime commercial RE spaces for Dollar General to go into. If you take the low end of all the numbers and just say they average about 30 jobs per store (some have more some have less) it would be about 61,000 jobs. Of course we still need to see what the retailers actually do.

At a recent ICSC 'International Council of Shopping Centers' conference in Las Vegas a lot of the discussion was how there would be very little need for new retail development in the US, for years to come. It will be more about retrofits and adjusting to market demand.

 

Eight Retailers That Will Close the Most Stores

Best Buy

> Forecast store closings: 200 to 250

> Number of U.S. stores:1,056

 

Sears Holding Corp.

> Forecast store closings: Kmart 175 to 225, Sears 100 to 125

> Number of U.S. stores: 2,118

 

J.C. Penney

> Forecast store closings: 300 to 350

> Number of U.S. stores: 1,100

 

Office Depot

> Forecast store closings: 125 to 150

> Number of U.S. stores: 1,114

 

Barnes & Noble

> Forecast store closings: 190 to 240, per company comments

> Number of U.S. stores: 689

 

Gamestop

> Forecast store closings: 500 to 600

> Number of U.S. stores: 4,471

 

OfficeMax

> Forecast store closings: 150 to 175

> Number of U.S. stores: 872

 

RadioShack

> Forecast store closings: 450 to 550

> Number of U.S. stores: 4,412

 

Read more: Eight Retailers That Will Close the Most Stores - 24/7 Wall St. http://247wallst.com/2013/01/29/eight-retailers-that-will-close-the-most-stores/#ixzz2JO9UbHiJ

I would not be surprised to see this revised up over the next two readings. Even if that happens, its clear the economy is currently declining from earlier in 2012. Image what it would have been with out the continuing QEs and FED action.

 

US GDP contracts for first time since end of recession

"The US economy unexpectedly shrank in the final quarter of last year for the first time since the end of the recession in 2009, as government spending fell and businesses scaled back investment."

http://www.telegraph.co.uk/finance/financialcrisis/9837062/US-GDP-contracts-for-first-time-since-end-of-recession.html

 

 

Despite the economic decline in Europe, Japan, Australia, and China oil is still running at about the same prices as this time last year. These weakened economy's will be impact much more this spring if prices go to last years levels.

 

Oil rises ahead of U.S. government supply data

"API data Tuesday showed bigger-than-expected rise in crude supply"

http://www.marketwatch.com/story/oil-recovers-from-inventory-report-weakness-2013-01-30?dist=lcountdown

 

 

And what might the GDP number mean. More stimulus debt? Yah!!!! The flow of financial drugs is unable to stop. We are now in a Japanese style vortex and as Japan has show for the last 15 years, once you are in this vortex its almost impossible to get out.

 

GDP Shows Surprise Drop for US in Fourth Quarter

"The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus."

http://www.cnbc.com/id/100419252

While a contraction is never encouraging, economists pointed to temporary effects that may have caused a one-time dip, and they see better growth ahead.

 

It's "the best-looking contraction in U.S. GDP you'll ever see," Paul Ashworth, chief U.S. economist for Capital Economics said in a research note. "The drag from defense spending and inventories is a one-off. The rest of the report is all encouraging."

 

A large cut in federal spending, primarily on defense, was one of the biggest drags on growth. Defense spending contracted at a 22% annual rate.

 

http://money.cnn.com/2013/01/30/news/economy/gdp-report/index.html?hpt=hp_t2

 

The private sector added 192,000 jobs in January, slightly higher than expected, according to the latest report from payroll processing firm ADP.

 

Analysts were expecting the private sector to add 175,000 jobs in the month, according to Briefing.com.

 

Small businesses led the way, hiring 115,000 workers. Medium-sized businesses added 79,000 jobs, while large firms cut 2,000 positions.

 

"That's a good solid number," said Mark Zandi, chief economist for Moody's Analytics, which works with ADP on the report. "The job growth is broad-based, across may industries."

 

http://money.cnn.com/2013/01/30/news/economy/adp-jobs/

 

While a contraction is never encouraging, economists pointed to temporary effects that may have caused a one-time dip, and they see better growth ahead.

 

It's "the best-looking contraction in U.S. GDP you'll ever see," Paul Ashworth, chief U.S. economist for Capital Economics said in a research note. "The drag from defense spending and inventories is a one-off. The rest of the report is all encouraging."

 

A large cut in federal spending, primarily on defense, was one of the biggest drags on growth. Defense spending contracted at a 22% annual rate.

 

http://money.cnn.com/2013/01/30/news/economy/gdp-report/index.html?hpt=hp_t2

 

The private sector added 192,000 jobs in January, slightly higher than expected, according to the latest report from payroll processing firm ADP.

 

Analysts were expecting the private sector to add 175,000 jobs in the month, according to Briefing.com.

 

Small businesses led the way, hiring 115,000 workers. Medium-sized businesses added 79,000 jobs, while large firms cut 2,000 positions.

 

"That's a good solid number," said Mark Zandi, chief economist for Moody's Analytics, which works with ADP on the report. "The job growth is broad-based, across may industries."

 

http://money.cnn.com/2013/01/30/news/economy/adp-jobs/

 

 

A lot of the government spending was moved up to quarter number 3 to give it a boost. Which left very little for quarter number 4.

This GDP is a perfect example of what happens/will happen economically if/when we cut government spending for the military/government. Its amazing to see that there was increases in consumer spending, business investment and housing yet without that defense spending GDP falls to about 0.

 

NOTE: This is meant as a economic comment not a political comment on wheather we should continue to brough money to support the military needs around the world. But, it makes it very clear why this industry is so powerful in Washington. Its a major economic engine.

 

ADP data will be revised lower next month, it usually is. Lets see what the government report says on Friday.

 

Clefan98,

You have made some points about private vs public. What is your take on economics of this industry and at what level should it be supported to maintain economic growth?

So I wonder who is buying all these new houses and used houses at higher price points? I have seen several articles stating that a lot of the home buying is by investment groups not individuals. Makes sinces when you see this data.

 

Winter Lull for New Households and Homeownership

"The pace of household formation slowed in the fourth quarter of 2012 and the percentage of Americans who own homes continued to fall, according to Census figures released Tuesday."

"The homeownership rate—or the percentage of Americans who own a home—fell one-tenth of a percentage point between the third and fourth quarters of 2012, to 65.4%. The U.S. homeownership rate rose 5 percentage points between the mid-1990s and the peak of the housing boom in 2005, but has been falling fairly steadily since its peak of 69.2% in the third quarter of 2004."

http://blogs.wsj.com/developments/2013/01/29/winter-lull-for-new-households-and-homeownership/

 

 

Europe just keeps getting better!

 

Italy risks political crisis as MPS bank scandal turns 'explosive'

"Italian magistrates investigating losses at Banca Monte dei Paschi say the mushrooming scandal has taken a dramatic turn, with political fallout that threatens to rock the country’s elections next month and upset eurozone plans for a banking union."

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9838312/Italy-risks-political-crisis-as-MPS-bank-scandal-turns-explosive.html

Toyota supplier Vuteq plans expansion, will add up to 100 jobs  :clap:

 

PRINCETON, Ind. — Vuteq, a Toyota supplier in Gibson County, Ind., is expected to announce this morning a multimillion-dollar expansion at its plant.

 

On Tuesday, the Indiana Economic Development Corp. announced that Gov. Mike Pence will join Vuteq executives for “an economic development announcement” at the manufacturer’s plant this morning.

 

Todd Mosby, president and chief executive officer at the Gibson County Economic Development Corp., confirmed that the announcement concerns a $3.5 million to $4.5 million plant expansion that will add 100 jobs at Vuteq.

 

http://www.courierpress.com/news/2013/jan/30/vuteq-herp/

US Midwest Business Index Picks Up From 3-Year Low

"The Institute for Supply Management-Chicago business barometer rose to its highest since April 2012 at 55.6 from 50.0 in December, easily topping economists' forecasts for 50.5."

http://www.cnbc.com/id/100423312/Chicago_PMI_at_556_Topping_Estimates_in_January_Vs_500_in_December

 

 

Initial jobless claims jump 38,000 to 368,000

Number of people applying for benefits back to late 2012 levels

"WASHINGTON (MarketWatch) — The number of people who applied for new unemployment benefits last week bounced sharply higher, erasing a big drop earlier in the month that put U.S. claims at a five-year low but likely stemmed from seasonal quirks."

http://www.marketwatch.com/story/initial-jobless-claims-jump-38000-to-368000-2013-01-31

 

 

UPDATE 1-German retail sales plunged in December

"BERLIN, Jan 31 (Reuters) - German retail sales tumbled by their largest amount in over three years in December, preliminary data showed on Thursday, denting hopes that private consumption can compensate for weaker exports and lift Europe's largest economy this year."

http://www.reuters.com/article/2013/01/31/germany-retail-idUSL5N0B02US20130131

 

 

Dow Chemical hit by global slowdown

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://www.ft.com/cms/s/0/771c4650-6ba4-11e2-a700-00144feab49a.html#ixzz2JZobzAmB

 

 

Nice VIDEO discussion on the current state of housing, from different points of view.

 

U.S. Housing in Fragile Recovery, Wachter Says

http://www.bloomberg.com/video/u-s-housing-in-fragile-recovery-wachter-says-L6ak6rFoRvaJ_xihRSJd3g.html

Greeneville auto supplier adding production, jobs  :clap:

NASHVILLE, Tenn. (AP) — Automotive supplier Huf North America will create 100 jobs in Greene County with a $20 million plant expansion.

 

The expansion was announced in Nashville on Thursday by Gov. Bill Haslam, Economic and Community Development Commissioner Bill Hagerty and representatives of the company.

 

Huf will build a 52,000-square-foot addition onto its current structure in Greeneville for a plastic injection molding and paint facility.

 

 

http://www.knoxnews.com/news/2013/jan/31/greeneville-auto-supplier-adding-production-jobs/

Measure of U.S. manufacturing jumps in December   :clap:

 

WASHINGTON  -- U.S. manufacturing activity grew at a faster pace in January behind an increase in new orders and more hiring at factories.

 

The Institute for Supply Management said Friday that its index of manufacturing activity jumped to 53.1 in January from 50.2 in December, the trade group said Friday. It was the highest reading since April, when the index hit 54.1.

 

Any reading above 50 indicates expansion.

 

http://www.cleveland.com/business/index.ssf/2013/02/measure_of_us_manufacturing_ju.html#incart_river_default

Want to start my post today with a link to the Al Gore inteview on PBS last night. It was very interesting and very well done, in my opinion (not a political statement). He talked a lot about big business' control of Washington, Democracy, the dangers of Fracking, the global economy and of course climate change. There is some political comments, but those are not my reason for posting this. It was the other stuff. Hope you take the time to see this interview or read the transcript that is provided at the link below.

 

Al Gore's 'Future' Tackles Technology, Global Economy, American Democracy

http://www.pbs.org/newshour/bb/environment/jan-june13/gore_01-31.html

 

 

 

Construction spending ends 2012 on high note

"Construction spending picked up at the end of last year, rising 0.9% to an annualized rate of $885 billion, the Commerce Department reported."

http://www.marketwatch.com/story/construction-spending-ends-2012-on-high-note-2013-02-01?dist=lcountdown

 

 

Basically enough to take care of the new incoming workforce. We are just stuck when it comes to job growth.

 

‘Pretty good, not fantastic’: jobs data reaction

"WASHINGTON (MarketWatch) — The labor market is still in rehabilitation, economists said after Friday’s report showing a gain of 157,000 jobs in January and the uptick in the unemployment rate to 7.9% from 7.8%."

http://www.marketwatch.com/story/pretty-good-not-fantastic-jobs-data-reaction-2013-02-01?dist=lcountdown

 

 

More evidence that the workforce contraction is not from the Boomers retiring at X amount of rate every day. This is going to really put pressure on the next generation(s) that are trying to get into an already tight job market.

 

Americans Rip Up Retirement Plans

"Nearly Two-Thirds of Those Between 45 and 60 Plan Delays, a Steep Rise From Two Years Ago"

http://online.wsj.com/article/SB10001424127887323926104578276241741448064.html

 

 

January ISM factory index strengthens to 53.1%

http://www.marketwatch.com/story/january-ism-factory-index-strengthens-to-531-2013-02-01?dist=lcountdown

 

 

GM's January U.S. sales rose 16%

"GM reported it sold 194,699 vehicles in January, up from 167,962 a year earlier and 21% below December's total of 245,733."

http://www.marketwatch.com/story/gms-january-us-sales-rose-16-2013-02-01?dist=lcountdown

 

 

Harman Reports Lower Sales, Profits; To Layoff 500

http://www.twice.com/articletype/financial/harman-reports-lower-sales-profits-layoff-500/104879

 

 

Cardinal Health restructuring to cost 180 jobs, including 20 in Dublin

http://www.bizjournals.com/columbus/news/2013/01/30/cardinal-health-restructuring-to-cost.html

 

 

New Viking Range owner cuts 20 percent of workers

"Middleby Corp, based near Chicago, said it laid off about 140 of Viking’s 700 employees Thursday."

http://www.clarionledger.com/viewart/20130131/BIZ/301310083/New-Viking-Range-owner-cuts-20-percent-workers

 

 

Daimler Trucks Unit to Cut Up to 2,100 Posts to Boost Profit

http://www.bloomberg.com/news/2013-01-30/daimler-trucks-unit-to-cut-up-to-2-100-posts-to-boost-profit.html

 

 

New York Thruway Authority announces 234 layoffs

http://www.democratandchronicle.com/article/20130130/NEWS01/301300047/Thruway-Authority-layoffs?nclick_check=1

 

 

Time Inc. Cuts Some 500 Jobs, Biggest Layoffs in Years

http://adage.com/article/media/time-cuts-500-jobs-biggest-layoffs-years/239482/

 

 

Boston Scientific plans job cuts, 4Q tops St. view

"Boston Scientific is cutting up to 1,000 more jobs as it deals with a new medical device tax from the U.S. health care overhaul, limited growth prospects in certain markets and pressure to cut prices on its products in other countries."

http://www.boston.com/news/local/massachusetts/2013/01/29/boston-scientific-plans-job-cuts-profit-falls/0hdG9add1OkYbF90IgCRMP/story.html

 

 

WPS Health Insurance files notice of 451 layoffs in Monona, Madison and Wausau

Read more: http://host.madison.com/business/wps-health-insurance-files-notice-of-layoffs-in-monona-madison/article_f0188544-69ad-11e2-96de-0019bb2963f4.html#ixzz2JfHMyn9l

Cybersecurity firm Accuvant adding 180 jobs in office relocation to new site near Fort Meade

 

DORSEY, Md. — The cybersecurity firm Accuvant (AK’-yoo-vahnt) Inc. says it expects to add 180 jobs as it moves its Maryland office from Hanover to nearby Dorsey.

 

The privately held Denver-based company joined state and Howard County officials in announcing the move Thursday.

 

http://www.washingtonpost.com/local/cybersecurity-firm-accuvant-adding-180-jobs-in-office-relocation-to-new-site-near-fort-meade/2013/01/31/ddcbea26-6be6-11e2-8f4f-2abd96162ba8_story.html

 

Growing Red Hat plans to hire hundreds in 2013

 

Raleigh, N.C. — As Triangle-based Red Hat employees continue to settle into the company's new downtown Raleigh headquarters, the global open-source software company has plans to add hundreds more to its ranks in the coming months.

 

Red Hat has grown by about 20 percent a year and is targeting $1.13 billion in revenue in 2013.

 

http://www.wral.com/growing-red-hat-plans-to-hire-hundreds-in-2013/12052335/

 

St. Luke's plans to hire 150 new employees at Anderson Campus

 

St. Luke’s University Health Network plans to hire 150 new employees in the coming year at its Anderson Campus in Bethlehem Township, Pa., the health network said in a statement detailing a visit today from Pennsylvania Gov. Tom Corbett.

 

Corbett toured the campus as part of a review of economic and job growth in the northeast part of the state, according to a news release.

 

http://www.lehighvalleylive.com/breaking-news/index.ssf/2013/01/st_lukes_plans_to_hire_150_new.html

Not sure if this goes in this thread.  The DDN had a big article on the manufacturing rebound in Ohio

 

Manufacturing surge powers Ohio rebound

 

After many years of declines, manufacturing is again driving economic expansion, benefiting more than half of Ohio’s counties that are heavily dependent on the industry, according to a Dayton Daily News data analysis.

 

>snip<

 

....the recession ended in December 2009, and as the economy reversed course, manufacturing finally made a comeback. Between 2010 and 2011, Ohio gained 49,616 net jobs, and 17,388 (35 percent) were in manufacturing, Zeller said.

 

“Manufacturing is driving the Ohio recovery, particularly since we have such an intense concentration” of jobs in the sector, he said. “Manufacturing is not only important for its high-wage jobs for Ohio workers, but it is also extremely important because of its large ripple effect on the rest of the economy.”...

 

 

.....“With the lower value of the dollar compared to Asia, we aren’t seeing the labor-intensive part of manufacturing return to the state, but the higher-skilled stuff has come back,” said Hill, with Cleveland State University.

 

 

 

 

Cybersecurity firm Accuvant adding 180 jobs in office relocation to new site near Fort Meade

 

DORSEY, Md. — The cybersecurity firm Accuvant (AK’-yoo-vahnt) Inc. says it expects to add 180 jobs as it moves its Maryland office from Hanover to nearby Dorsey.

 

The privately held Denver-based company joined state and Howard County officials in announcing the move Thursday.

 

http://www.washingtonpost.com/local/cybersecurity-firm-accuvant-adding-180-jobs-in-office-relocation-to-new-site-near-fort-meade/2013/01/31/ddcbea26-6be6-11e2-8f4f-2abd96162ba8_story.html

 

Growing Red Hat plans to hire hundreds in 2013

 

Raleigh, N.C. — As Triangle-based Red Hat employees continue to settle into the company's new downtown Raleigh headquarters, the global open-source software company has plans to add hundreds more to its ranks in the coming months.

 

Red Hat has grown by about 20 percent a year and is targeting $1.13 billion in revenue in 2013.

 

http://www.wral.com/growing-red-hat-plans-to-hire-hundreds-in-2013/12052335/

 

St. Luke's plans to hire 150 new employees at Anderson Campus

 

St. Luke’s University Health Network plans to hire 150 new employees in the coming year at its Anderson Campus in Bethlehem Township, Pa., the health network said in a statement detailing a visit today from Pennsylvania Gov. Tom Corbett.

 

Corbett toured the campus as part of a review of economic and job growth in the northeast part of the state, according to a news release.

 

http://www.lehighvalleylive.com/breaking-news/index.ssf/2013/01/st_lukes_plans_to_hire_150_new.html

 

Keep trying you are still about 80,000 jobs behind just since the first of the year. You did notice the unemployment rate went up right and the job growth number was basically a wash.

Not sure if this goes in this thread.  The DDN had a big article on the manufacturing rebound in Ohio

 

Manufacturing surge powers Ohio rebound

 

After many years of declines, manufacturing is again driving economic expansion, benefiting more than half of Ohios counties that are heavily dependent on the industry, according to a Dayton Daily News data analysis.

 

>snip<

 

....the recession ended in December 2009, and as the economy reversed course, manufacturing finally made a comeback. Between 2010 and 2011, Ohio gained 49,616 net jobs, and 17,388 (35 percent) were in manufacturing, Zeller said.

 

Manufacturing is driving the Ohio recovery, particularly since we have such an intense concentration of jobs in the sector, he said. Manufacturing is not only important for its high-wage jobs for Ohio workers, but it is also extremely important because of its large ripple effect on the rest of the economy....

 

 

.....With the lower value of the dollar compared to Asia, we arent seeing the labor-intensive part of manufacturing return to the state, but the higher-skilled stuff has come back, said Hill, with Cleveland State University.

 

 

 

 

 

Jeffrey,

Thanks for the post and info. I read through the article and it appears the date is for 2011. I know you are a great data miner, do you know what those numbers looked like for 2012?

Charter plans to hire in Osage Beach  :clap:

 

Charter announced Wednesday that it is seeking qualified candidates to fill an additional 150 new positions in the areas of direct sales and broadband installation throughout Missouri and Western Illinois. The outside sales and broadband installer positions are expected to be filled now through mid-2013 in various locations including Osage Beach.

 

http://www.lakenewsonline.com/article/20130130/BUSINESS/130139868/1001/NEWS

 

Moran Iron Works to expand; plans to hire 75 more employees  :clap:

 

Moran Iron Works Inc (MIW), manufacturer of large custom components, has big plans for expansion in Onaway and Rogers City. The kick-start for this project, promised to bring at least 75 new jobs to the area, is a $2 million grant from the Michigan Strategic Fund (MSF), a board which promotes economic development and job creation in the state.

 

In cooperation with the Michigan Economic Development Corporation (MEDC), the MSF is designed to provide grants, loans or other economic assistance to businesses in Michigan. The MEDC formally announced the awarding of the grant in Lansing Jan. 23.

 

http://demo.piadvance.com/2013/01/moran-iron-works-to-expand-plans-to-hire-75-more-employees/

 

Michelin adding 100 new jobs with expansion in Anderson County  :clap:

 

COLUMBIA — Michelin is expanding its presence in South Carolina with a project officials say will create 100 new jobs.

Gov. Nikki Haley said Thursday that the tire maker is spending $200 million to expand its rubber production plant in Anderson County.

 

http://www.goupstate.com/article/20130124/WIRE/130129799

 

 

Air Force plans to hire 1,000 cyber warriors starting in fiscal 2014

  :clap:

 

One thousand new cyber personnel, mostly civilians, will join Air Force Space Command in fiscal 2014, the Defense Department said Jan. 18.

Contingent on DoD budget approval, the additional staff would represent a 15 percent increase over the Air Force's 6,000 cyber professionals currently under Space Command.

 

http://www.fiercegovernmentit.com/story/air-force-plans-hire-1000-cyber-warriors-starting-fiscal-2014/2013-01-23

Dow above 14,000. Again.

Cybersecurity firm Accuvant adding 180 jobs in office relocation to new site near Fort Meade

 

DORSEY, Md. — The cybersecurity firm Accuvant (AK’-yoo-vahnt) Inc. says it expects to add 180 jobs as it moves its Maryland office from Hanover to nearby Dorsey.

 

The privately held Denver-based company joined state and Howard County officials in announcing the move Thursday.

 

http://www.washingtonpost.com/local/cybersecurity-firm-accuvant-adding-180-jobs-in-office-relocation-to-new-site-near-fort-meade/2013/01/31/ddcbea26-6be6-11e2-8f4f-2abd96162ba8_story.html

 

Growing Red Hat plans to hire hundreds in 2013

 

Raleigh, N.C. — As Triangle-based Red Hat employees continue to settle into the company's new downtown Raleigh headquarters, the global open-source software company has plans to add hundreds more to its ranks in the coming months.

 

Red Hat has grown by about 20 percent a year and is targeting $1.13 billion in revenue in 2013.

 

http://www.wral.com/growing-red-hat-plans-to-hire-hundreds-in-2013/12052335/

 

St. Luke's plans to hire 150 new employees at Anderson Campus

 

St. Luke’s University Health Network plans to hire 150 new employees in the coming year at its Anderson Campus in Bethlehem Township, Pa., the health network said in a statement detailing a visit today from Pennsylvania Gov. Tom Corbett.

 

Corbett toured the campus as part of a review of economic and job growth in the northeast part of the state, according to a news release.

 

http://www.lehighvalleylive.com/breaking-news/index.ssf/2013/01/st_lukes_plans_to_hire_150_new.html

 

Keep trying you are still about 80,000 jobs behind just since the first of the year. You did notice the unemployment rate went up right and the job growth number was basically a wash.

Aren't we better off than 10 years ago? We just had a recession. We are doing well since then. The dow cracked 14,000 today. No other president can say that.

Actually, Bush could.  The Dow went above 14,000 before the collapse of Lehman (14,164.53).  We're within spitting distance of the bubble high right now.  Hopefully that number is more sustainable this time around.  Keeping my fingers crossed.

Dow above 14,000. Again.

 

And that means what?

SEC panel seeks stock exchange only for the rich

Retail investors would be barred from investing on exchange: panel

"The panel, the advisory committee on small and emerging companies, voted to urge the SEC to support the setting up of an exchange for small publicly traded companies that would only be accessible for high-income individuals such as so-called accredited investors, who must have net worths, excluding their homes, of $1 million or more or income of $200,000 or more for at least two years."

http://www.marketwatch.com/story/sec-panel-seeks-stock-exchange-only-for-the-rich-2013-02-01?dist=afterbell

SEC panel seeks stock exchange only for the rich

Retail investors would be barred from investing on exchange: panel

"The panel, the advisory committee on small and emerging companies, voted to urge the SEC to support the setting up of an exchange for small publicly traded companies that would only be accessible for high-income individuals such as so-called accredited investors, who must have net worths, excluding their homes, of $1 million or more or income of $200,000 or more for at least two years."

http://www.marketwatch.com/story/sec-panel-seeks-stock-exchange-only-for-the-rich-2013-02-01?dist=afterbell

 

The revolution, will not be televised....

That bar is awful low for "sophisticated investors". Maybe that's why they used the term "accredited investors" instead. Probably because actual sophisticated investors know a little too much. If they set the bar lower as they have here, they can create the Old Lady Tricking Exchange that they seek.

Factory orders up 1.8% in December

 

WASHINGTON -- U.S. factory orders increased in December even though companies trimmed their orders for goods that signal investment plans. The Commerce Department says factory orders rose 1.8 percent in December compared to November, when orders had fallen 0.3 percent.

 

http://www.cleveland.com/business/index.ssf/2013/02/factory_orders_up_18_in_decemb.html#incart_river_default

This was a pretty big miss, expected was 2.3% we got 1.8%. Also, November's numbers were revised from 0% to -.3% and food and clothing, for December, was a -.3% (things Main Street needs).

 

U.S. factory orders advance 1.8% in December

"...MarketWatch expected orders to increase by 2.3%, largely because of higher orders for commercial and military aircraft. Orders for durable goods - products meant to last at least three years - advanced 4.3% in December. Yet orders for nondurable goods such as food and clothing dropped 0.3%. In November, factory orders were revised down slightly to show a 0.3% decline."

http://www.marketwatch.com/story/us-factory-orders-advance-18-in-december-2013-02-04

 

 

Who Decided U.S. Megabanks Are Too Big to Jail?

"In an on-camera interview, which aired recently, Breuer stated plainly that some financial institutions are too large and too complex to be held accountable before the law. Bipartisan pressure is now being applied on the Justice Department to reveal exactly how this determination was made. Breuer, however, has announced he will leave government March 1. Good luck unraveling the cover-up that must already be in place."

"The Justice Department likes to quote Thomas Jefferson: “The most sacred of the duties of government [is] to do equal and impartial justice to all its citizens,” a line that appears in its latest budget documents.

This sentiment is hardly consistent with saying that some companies have characteristics that put them above the law. Jefferson himself was very worried about the concentrated power of financiers -- he would have seen today’s problems much more clearly than do Holder and Breuer."

"Their requests are entirely reasonable, centering on the question: Who are the experts with whom the Justice Department consults?"

The line of questioning from Brown and Grassley is compelling. Is there a written list of too-big-to-jail banks, or is that status conferred on the fly? Are there objective criteria that could be reviewed by the Government Accountability Office or another responsible government body?

"Is the Federal Reserve involved? Is it the New York Fed or some other part of the Fed system?

Maybe the only experts are those retained by the banks under investigation? That is certainly how it seems if you read a speech that Breuer delivered to the New York City Bar Association in September 2012.

Perhaps the most difficult question from Brown and Grassley is, “How did DOJ ensure that these experts provided unconflicted and unbiased advice to DOJ?”

http://mobile.bloomberg.com/news/2013-02-03/who-decided-u-s-megabanks-are-too-big-to-jail-.html

InVue Security to add 70 jobs in Charlotte

 

InVue Security Products Inc. plans to add 70 jobs at its headquarters in Charlotte during the next five years in an $11 million expansion, according to an announcement Friday by the Charlotte Chamber.

 

The new jobs will pay an average of $83,000 per year, the chamber says.

 

http://www.bizjournals.com/charlotte/news/2013/02/01/invue-security-to-add-70-jobs-in.html

Who Decided U.S. Megabanks Are Too Big to Jail?"In an on-camera interview, which aired recently, Breuer stated plainly that some financial institutions are too large and too complex to be held accountable before the law. Bipartisan pressure is now being applied on the Justice Department to reveal exactly how this determination was made. Breuer, however, has announced he will leave government March 1. Good luck unraveling the cover-up that must already be in place."

"The Justice Department likes to quote Thomas Jefferson: “The most sacred of the duties of government [is] to do equal and impartial justice to all its citizens,” a line that appears in its latest budget documents.

This sentiment is hardly consistent with saying that some companies have characteristics that put them above the law. Jefferson himself was very worried about the concentrated power of financiers -- he would have seen today’s problems much more clearly than do Holder and Breuer."

"Their requests are entirely reasonable, centering on the question: Who are the experts with whom the Justice Department consults?"

The line of questioning from Brown and Grassley is compelling. Is there a written list of too-big-to-jail banks, or is that status conferred on the fly? Are there objective criteria that could be reviewed by the Government Accountability Office or another responsible government body?

"Is the Federal Reserve involved? Is it the New York Fed or some other part of the Fed system?

Maybe the only experts are those retained by the banks under investigation? That is certainly how it seems if you read a speech that Breuer delivered to the New York City Bar Association in September 2012.

Perhaps the most difficult question from Brown and Grassley is, “How did DOJ ensure that these experts provided unconflicted and unbiased advice to DOJ?”

http://mobile.bloomberg.com/news/2013-02-03/who-decided-u-s-megabanks-are-too-big-to-jail-.html

 

I didn't read the link, but on this problem, the banks would have a legitimate gripe, if it came to prosecutions: The modern regulatory state is so all-pervasive and depends on so many flexible standards that overzealous prosecutors can basically charge anyone for anything.  It is almost certain that most banks arguably break at least one federal regulatory law on a daily basis.  It's also arguably certain that they don't break those exact same laws.  One might have little sympathy for the banks, given how much control they seem to exercise over the regulatory process, but regardless of the reason or the process behind such laws, vague regulations with stiff criminal penalties for transgressions are fundamentally unjust.  This is true of all crimes, but particularly regulatory crimes, given that regulations can be changed with little to no input from those elected to actually pass the laws, and little to no knowledge among the general public.

 

Now if we could actually prove old-fashioned, traditional crimes like criminal fraud, that's another matter.  But I doubt that many of the banks went so far.

Who Decided U.S. Megabanks Are Too Big to Jail?"In an on-camera interview, which aired recently, Breuer stated plainly that some financial institutions are too large and too complex to be held accountable before the law. Bipartisan pressure is now being applied on the Justice Department to reveal exactly how this determination was made. Breuer, however, has announced he will leave government March 1. Good luck unraveling the cover-up that must already be in place."

"The Justice Department likes to quote Thomas Jefferson: “The most sacred of the duties of government [is] to do equal and impartial justice to all its citizens,” a line that appears in its latest budget documents.

This sentiment is hardly consistent with saying that some companies have characteristics that put them above the law. Jefferson himself was very worried about the concentrated power of financiers -- he would have seen today’s problems much more clearly than do Holder and Breuer."

"Their requests are entirely reasonable, centering on the question: Who are the experts with whom the Justice Department consults?"

The line of questioning from Brown and Grassley is compelling. Is there a written list of too-big-to-jail banks, or is that status conferred on the fly? Are there objective criteria that could be reviewed by the Government Accountability Office or another responsible government body?

"Is the Federal Reserve involved? Is it the New York Fed or some other part of the Fed system?

Maybe the only experts are those retained by the banks under investigation? That is certainly how it seems if you read a speech that Breuer delivered to the New York City Bar Association in September 2012.

Perhaps the most difficult question from Brown and Grassley is, “How did DOJ ensure that these experts provided unconflicted and unbiased advice to DOJ?”

http://mobile.bloomberg.com/news/2013-02-03/who-decided-u-s-megabanks-are-too-big-to-jail-.html

 

I didn't read the link, but on this problem, the banks would have a legitimate gripe, if it came to prosecutions: The modern regulatory state is so all-pervasive and depends on so many flexible standards that overzealous prosecutors can basically charge anyone for anything.  It is almost certain that most banks arguably break at least one federal regulatory law on a daily basis.  It's also arguably certain that they don't break those exact same laws.  One might have little sympathy for the banks, given how much control they seem to exercise over the regulatory process, but regardless of the reason or the process behind such laws, vague regulations with stiff criminal penalties for transgressions are fundamentally unjust.  This is true of all crimes, but particularly regulatory crimes, given that regulations can be changed with little to no input from those elected to actually pass the laws, and little to no knowledge among the general public.

 

Now if we could actually prove old-fashioned, traditional crimes like criminal fraud, that's another matter.  But I doubt that many of the banks went so far.

 

I think any time you have a company that has become so big that it can't be held accountable to the laws of the land you have a problem. Plenty of fraud has taken place, and many banks have been fined, but that seems to be were the issues stop. I think all the posts that have been made of the unethical and illegal activity shows that they usually get a slap on the hand and that is it. We are not talking about a regulatory oops, we are talking about things like Libor (billions and billions), drug cartels, money laundering, breaking of US trade sanctions, etc. (All actions that many of the major banks have been found guilty and fined for just over the last year.) But the game just goes on, and none of the big boys go to jail.

No company is too big to prosecute individuals that have done wrong. There is ALWAYS someone willing to step up and replace them.

Some more discussion on the retail/commercial space issues. The impact of vacant space and the lower demand for future space will have a significant impact on the RE industry as well a city/town budgets.

 

Online sales threat to American malls

“We’re 15-20 per cent overbuilt. There are just too many stores.”

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://www.ft.com/cms/s/0/1659b142-6cba-11e2-b73a-00144feab49a.html#ixzz2K3bC9qzE

 

 

The pump is working extra hard to have price gains, even if demand is still near record lows. This type of divergence between incomes/demand vs prices will not end well down the road. But, it makes for a great party discussion while it lasts. The FEDs are placing a lot of chips on the hope that they can sustain this growth through artificial stimulus. I think they can sustain this for a least a year or two, after that all bets are off.

 

Year-on-year house price gain hits six-year high

"WASHINGTON (MarketWatch) -- U.S. home prices grew 0.4% in December to stretch the year-on-year gain to 8.3%, the strongest advance since May 2006, CoreLogic said Tuesday. CoreLogic said 46 of 50 states registered gains for the year. Arizona has the strong year-on-year appreciation at 20.2%, though prices are down 39.8% from the peak. Nationally, prices are down 26.9% from the April 2006 peak."

http://www.marketwatch.com/story/year-on-year-house-price-gain-hits-six-year-high-2013-02-05

Home Depot is making its yearly hiring push, aiming to fill more than 80,000 jobs for its busiest season.  :clap: :clap: :clap:

 

That's 10,000 more jobs than the home improvement retail chain posted last year at this time, marking a 14% year-over-year increase.

In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

http://money.cnn.com/2013/02/06/news/economy/home-depot-hiring/index.html?iid=HP_LN&hpt=hp_t2

Can this dinosuar be saved?

 

Postal Service to cut Saturday mail to trim costs

"WASHINGTON (AP) — Apparently trying an end-run around an unaccommodating Congress, the financially struggling U.S. Postal Service says it will stop delivering mail on Saturdays but continue to disburse packages six days a week.

In an announcement scheduled for later Wednesday, the service is expected to say the Saturday mail cutback would begin in August and could save $2 billion annually."

http://bigstory.ap.org/article/postal-service-cut-saturday-mail-trim-costs

 

 

For those that posted about the stock market being about 14,000. I don't know where it will go, but it looks like the insiders think it will not be upward much longer.

 

Insiders now aggressively bearish

Commentary: Insider selling pace now fastest in several years

"This is worrisome because corporate insiders — officers, directors and the largest shareholders — presumably know more about their companies’ prospects than the rest of us do. If they were confident that the shares of their companies would soon be trading markedly higher, they wouldn’t be selling them now.

Yet selling they are — at an alarming pace."

http://www.marketwatch.com/story/insiders-now-aggressively-bearish-2013-02-06

Home Depot is making its yearly hiring push, aiming to fill more than 80,000 jobs for its busiest season.  :clap: :clap: :clap:

 

That's 10,000 more jobs than the home improvement retail chain posted last year at this time, marking a 14% year-over-year increase.

In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

http://money.cnn.com/2013/02/06/news/economy/home-depot-hiring/index.html?iid=HP_LN&hpt=hp_t2

 

So you are pointing to temporary employment opportunities (for most of these jobs) at a wage that is right at the Federal poverty/low level as a positive economic sign of job growth. I looked up the average hourly wage for a floor person (which is what most of these jobs will be) it is about $9.50 to $10.00. If you assume they accidently get 40 hours a week (which is a big assumption) that is $400 dollars before taxes and most will not get full time status so they will have no benefits.

 

So another question for you, not that you usually answer any of them. So is this type of temporary job growth really helping move Main Street America's economy forward and creating long term economic growth for America?

I see you have trouble reading between the lines.  Check this: "Spring is typically the strongest time of the year for Home Depot (HD, Fortune 500), and the move shows the company is preparing for a better season than years past".  Economy = Improving. 

No company is too big to prosecute individuals that have done wrong. There is ALWAYS someone willing to step up and replace them.

 

It appears that they are.

Are these jobs up to your standards???

 

Norwalk company plans 100 hires this year  :clap:

 

A Norwalk business has been recognized for its rampant revenue growth, and now it is being translated into the need to nearly double the size of its staff.

 

Datto, a data backup technology business that houses about 135 employees at its headquarters at the Merritt 7 office complex in Norwalk and 15 more at its assembly facility in Wilton, said that it plans to hire 100 employees this year.

 

Read more: http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php#ixzz2K8g0GrZP

 

http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php

 

Comcast adding 170 jobs in Naperville for biz service :clap:

 

Comcast is bulking up with nearly 200 jobs and branching out with more broadband service for business in the Chicago area.

 

The company says it's extending service to office buildings such as Willis Tower in the Loop and to office parks along Interstate 90 between Rosemont and Schaumburg and along the I-88 corridor between Aurora and Oak Brook.

 

http://www.chicagobusiness.com/article/20130205/BLOGS11/130209920/comcast-adding-170-jobs-in-naperville-for-biz-service

I see you have trouble reading between the lines.  Check this: "Spring is typically the strongest time of the year for Home Depot (HD, Fortune 500), and the move shows the company is preparing for a better season than years past".  Economy = Improving. 

 

At those temporary job income rates their new employees will not be the ones do much home buying and improvements. It appears you are missing the point. I have stated many times that housing is going to be the main growth engine this year, the FED buying will insure that but, it all comes with a very high longer term price tag. This doesn't mean that this is a longer term growth strategy for the US economy down the road.

 

How about my question about the jobs that they are creating?

Home Depot is making its yearly hiring push, aiming to fill more than 80,000 jobs for its busiest season.  :clap: :clap: :clap:

 

That's 10,000 more jobs than the home improvement retail chain posted last year at this time, marking a 14% year-over-year increase.

In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

http://money.cnn.com/2013/02/06/news/economy/home-depot-hiring/index.html?iid=HP_LN&hpt=hp_t2

 

So you are pointing to temporary employment opportunities (for most of these jobs) at a wage that is right at the Federal poverty/low level as a positive economic sign of job growth. I looked up the average hourly wage for a floor person (which is what most of these jobs will be) it is about $9.50 to $10.00. If you assume they accidently get 40 hours a week (which is a big assumption) that is $400 dollars before taxes and most will not get full time status so they will have no benefits.

 

So another question for you, not that you usually answer any of them. So is this type of temporary job growth really helping move Main Street America's economy forward and creating long term economic growth for America?

 

YES. In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

Are these jobs up to your standards???

 

Norwalk company plans 100 hires this year  :clap:

 

A Norwalk business has been recognized for its rampant revenue growth, and now it is being translated into the need to nearly double the size of its staff.

 

Datto, a data backup technology business that houses about 135 employees at its headquarters at the Merritt 7 office complex in Norwalk and 15 more at its assembly facility in Wilton, said that it plans to hire 100 employees this year.

 

Read more: http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php#ixzz2K8g0GrZP

 

http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php

 

Comcast adding 170 jobs in Naperville for biz service :clap:

 

Comcast is bulking up with nearly 200 jobs and branching out with more broadband service for business in the Chicago area.

 

The company says it's extending service to office buildings such as Willis Tower in the Loop and to office parks along Interstate 90 between Rosemont and Schaumburg and along the I-88 corridor between Aurora and Oak Brook.

 

http://www.chicagobusiness.com/article/20130205/BLOGS11/130209920/comcast-adding-170-jobs-in-naperville-for-biz-service

 

Look we could do this forever. I could post right now thousands of full time jobs cuts that have been announced just since Monday and you would still be in the hole number wise. I think you have been missing the point, the point is job growth has not be going up since the middle of last summer, job losses have been growing rapidly and the pay and quality between a larger percentage of the jobs being lost and gained is a real economic problem.

 

Look at all the data that has been posted that a large percent of people that loss a job make less at the next job that they find (if they find one). This is the center of the job discussion. People need to have a living wage, with good benefits. These types of jobs have become harder to find. Steep back and recognize that there is a real problem with America becoming poorer while the FEDs are still trying to pump up inflation and home prices. Those things don't mix well for the future. Something will give down the road, once again. Just like it has in the last two bubbles of housing and stock markets.

 

I realize you continue to avoid most of the core economic conversations here with a few cut and past posts and some one liners. Maybe you are just wanting to be a contrarian on the thread in an effort to so show something. If that is the case, no problem, but it doesn't create a diolog about the real economic issues facing America and most of the Western world right now.

Home Depot is making its yearly hiring push, aiming to fill more than 80,000 jobs for its busiest season.  :clap: :clap: :clap:

 

That's 10,000 more jobs than the home improvement retail chain posted last year at this time, marking a 14% year-over-year increase.

In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

http://money.cnn.com/2013/02/06/news/economy/home-depot-hiring/index.html?iid=HP_LN&hpt=hp_t2

 

So you are pointing to temporary employment opportunities (for most of these jobs) at a wage that is right at the Federal poverty/low level as a positive economic sign of job growth. I looked up the average hourly wage for a floor person (which is what most of these jobs will be) it is about $9.50 to $10.00. If you assume they accidently get 40 hours a week (which is a big assumption) that is $400 dollars before taxes and most will not get full time status so they will have no benefits.

 

So another question for you, not that you usually answer any of them. So is this type of temporary job growth really helping move Main Street America's economy forward and creating long term economic growth for America?

 

YES. In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

How? What is some? What is the wage? Still for most it will be about $10 an hour. This type of wage is not a living wage in today's economy. It is more what a high school kid would look for.

Are these jobs up to your standards???

 

Norwalk company plans 100 hires this year  :clap:

 

A Norwalk business has been recognized for its rampant revenue growth, and now it is being translated into the need to nearly double the size of its staff.

 

Datto, a data backup technology business that houses about 135 employees at its headquarters at the Merritt 7 office complex in Norwalk and 15 more at its assembly facility in Wilton, said that it plans to hire 100 employees this year.

 

Read more: http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php#ixzz2K8g0GrZP

 

http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php

 

Comcast adding 170 jobs in Naperville for biz service :clap:

 

Comcast is bulking up with nearly 200 jobs and branching out with more broadband service for business in the Chicago area.

 

The company says it's extending service to office buildings such as Willis Tower in the Loop and to office parks along Interstate 90 between Rosemont and Schaumburg and along the I-88 corridor between Aurora and Oak Brook.

 

http://www.chicagobusiness.com/article/20130205/BLOGS11/130209920/comcast-adding-170-jobs-in-naperville-for-biz-service

 

Look we could do this forever.

 

We know that, since you've been doing just that on this thread since December 2008, focusing almost exclusively on bad news even though there has been a lot going right over the past 1-2 years.

 

I realize you continue to avoid most of the core economic conversations here with a few cut and past posts and some one liners. Maybe you are just wanting to be a contrarian on the thread in an effort to so show something. If that is the case, no problem, but it doesn't create a diolog about the real economic issues facing America and most of the Western world right now.

 

The thread needs a contrarian, given the one-sided, four-year barrage you've been building.  Heck, just look at your responses to him; it's like "how dare someone interrupt my doom-and-gloom-fest!  I'll show him ... MOAR DOOM AND GLOOM!"

So will these top executives go to jail for the fraudulent actions that had "dire consequences for the entir economy". This should be a good one to watch and see if the top brass is to big to send to jail.

 

S&P E-Mails on Mortgage Crisis Show Alarm and Gallows Humor

"The executive at Standard & Poor's was clear: "This market is a wildly spinning top which is going to end badly."

That sober assessment of certain mortgage-related investments, delivered to colleagues in a confidential memo in December 2006, is now part of a trove of internal e-mails and documents that have come to light in a federal suit against S&P, the nation's largest credit ratings agency.

The correspondence, made public in court documents late Monday, provide a glimpse at the inner workings of an institution that the Justice Department says fraudulently inflated credit ratings, with dire consequences for the entire economy."

http://www.cnbc.com/id/100437479

YES. In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

He continually posts bad news and craps on anything even remotely positive. I appreciate the nuggets of good news, so please continue posting them. It provides at least a bit of signal to all the noise in this thread.

 

Home Depot is making its yearly hiring push, aiming to fill more than 80,000 jobs for its busiest season.  :clap: :clap: :clap:

 

That's 10,000 more jobs than the home improvement retail chain posted last year at this time, marking a 14% year-over-year increase.

In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

http://money.cnn.com/2013/02/06/news/economy/home-depot-hiring/index.html?iid=HP_LN&hpt=hp_t2

 

So you are pointing to temporary employment opportunities (for most of these jobs) at a wage that is right at the Federal poverty/low level as a positive economic sign of job growth. I looked up the average hourly wage for a floor person (which is what most of these jobs will be) it is about $9.50 to $10.00. If you assume they accidently get 40 hours a week (which is a big assumption) that is $400 dollars before taxes and most will not get full time status so they will have no benefits.

 

So another question for you, not that you usually answer any of them. So is this type of temporary job growth really helping move Main Street America's economy forward and creating long term economic growth for America?

 

YES. In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

How? What is some? What is the wage? Still for most it will be about $10 an hour. This type of wage is not a living wage in today's economy. It is more what a high school kid would look for.

 

Do you really think selling home improvement supplies should be a $20/hr or $30/hr job?  Yes, $10/hr may not be enough to support a stay-at-home spouse and children in a suburban single-family home miles away from the workplace through autocentric development.  That fact does not give anyone an entitlement to a bigger paycheck.  The only thing that should factor into that is the fair market value of the services provided, as evidenced by what an employer is willing to pay and an employee is willing to accept.

 

Also, the mere fact that Home Depot sees enough demand (even just seasonal demand) that it needs so many new employees ought to show that there is good news somewhere in the economy, since it means that a lot of people have money to spare for home improvement projects.

Are these jobs up to your standards???

 

Norwalk company plans 100 hires this year  :clap:

 

A Norwalk business has been recognized for its rampant revenue growth, and now it is being translated into the need to nearly double the size of its staff.

 

Datto, a data backup technology business that houses about 135 employees at its headquarters at the Merritt 7 office complex in Norwalk and 15 more at its assembly facility in Wilton, said that it plans to hire 100 employees this year.

 

Read more: http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php#ixzz2K8g0GrZP

 

http://www.stamfordadvocate.com/news/article/Norwalk-company-plans-100-hires-this-year-4254016.php

 

Comcast adding 170 jobs in Naperville for biz service :clap:

 

Comcast is bulking up with nearly 200 jobs and branching out with more broadband service for business in the Chicago area.

 

The company says it's extending service to office buildings such as Willis Tower in the Loop and to office parks along Interstate 90 between Rosemont and Schaumburg and along the I-88 corridor between Aurora and Oak Brook.

 

http://www.chicagobusiness.com/article/20130205/BLOGS11/130209920/comcast-adding-170-jobs-in-naperville-for-biz-service

 

Look we could do this forever.

 

We know that, since you've been doing just that on this thread since December 2008, focusing almost exclusively on bad news even though there has been a lot going right over the past 1-2 years.

 

I realize you continue to avoid most of the core economic conversations here with a few cut and past posts and some one liners. Maybe you are just wanting to be a contrarian on the thread in an effort to so show something. If that is the case, no problem, but it doesn't create a diolog about the real economic issues facing America and most of the Western world right now.

 

The thread needs a contrarian, given the one-sided, four-year barrage you've been building.  Heck, just look at your responses to him; it's like "how dare someone interrupt my doom-and-gloom-fest!  I'll show him ... MOAR DOOM AND GLOOM!"

 

So lets look at the 'one sided point of view posts'. These are many of my post just over the last page and half. Are they all doom and gloom?

 

- U.S. factory orders advance 1.8% in December

- Year-on-year house price gain hits six-year high

- US Midwest Business Index Picks Up From 3-Year Low

- Construction spending ends 2012 on high note

- ‘Pretty good, not fantastic’: jobs data reaction

- January ISM factory index strengthens to 53.1%

- GM's January U.S. sales rose 16%

 

Do I believe the US economy is better than in 2008? YES.

Do I believe we have fixed the underlining issues that still make our economy struggle to move forward? NO.

Do I post to show that struggle and those underlining issues. YES

Do I comment and post to support these points of view? YES

Do I think we are on the edge of another recession? YES

Will it happen officially, not sure, the FEDs are pumping hard to avoid it and I post to support that opinion as well.

 

Once again, why look at the thread if you think it has no value? That would be like looking at one of peak oil threads if you think that thread have no value or valitity.

Home Depot is making its yearly hiring push, aiming to fill more than 80,000 jobs for its busiest season.  :clap: :clap: :clap:

 

That's 10,000 more jobs than the home improvement retail chain posted last year at this time, marking a 14% year-over-year increase.

In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

http://money.cnn.com/2013/02/06/news/economy/home-depot-hiring/index.html?iid=HP_LN&hpt=hp_t2

 

So you are pointing to temporary employment opportunities (for most of these jobs) at a wage that is right at the Federal poverty/low level as a positive economic sign of job growth. I looked up the average hourly wage for a floor person (which is what most of these jobs will be) it is about $9.50 to $10.00. If you assume they accidently get 40 hours a week (which is a big assumption) that is $400 dollars before taxes and most will not get full time status so they will have no benefits.

 

So another question for you, not that you usually answer any of them. So is this type of temporary job growth really helping move Main Street America's economy forward and creating long term economic growth for America?

 

YES. In a statement, the company's executive vice president of human resources, Tim Crow, said, "We find some of our best associates during our peak season, and many of them have built long, meaningful careers with us."

 

How? What is some? What is the wage? Still for most it will be about $10 an hour. This type of wage is not a living wage in today's economy. It is more what a high school kid would look for.

 

Do you really think selling home improvement supplies should be a $20/hr or $30/hr job?  Yes, $10/hr may not be enough to support a stay-at-home spouse and children in a suburban single-family home miles away from the workplace through autocentric development.  That fact does not give anyone an entitlement to a bigger paycheck.  The only thing that should factor into that is the fair market value of the services provided, as evidenced by what an employer is willing to pay and an employee is willing to accept.

 

Also, the mere fact that Home Depot sees enough demand (even just seasonal demand) that it needs so many new employees ought to show that there is good news somewhere in the economy, since it means that a lot of people have money to spare for home improvement projects.

 

It is not enough money to even support one individual trying to live on their own.

- Maybe this is why new household formation continues to drop.

- Maybe it is also why the number of people needing food stamps are at a all time high.

- Maybe this is why more America's are in the poverty and low income levels today then at any time since the great depression?

- Or why home ownership rates are at all time lows.

- Or why the food banks, and services agencies continue to say they are seeing record demand for services in the US.

Does this sound like a solid economic recovery?

Many of the new jobs don't pay enough for someone to live on their own. Which is one of the core economic problems I have pointed out.

 

So, what happens to the US economy if we continue to replace higher wage jobs for lower wage jobs? What does that mean for consumption, home prices, etc.? You are correct that people are not entitled to a bigger paycheck. But, when the cost of living continues to go up and incomes are not matching that, we end up with more and more people that are not economically stable. What types of impacts might that have on our society?

Cummins is general another one of the companies that is watched to determine the health of the economy.

 

Cummins' earnings, revenue fall on weaker demand

"Cummins also warned that sales could fall as much as 5 percent in 2013 because of  falling demand for its heavy truck engines.

"After a strong start to the year, demand declined across most geographies and end markets in the second half of 2012 as the global economy slowed," CEO Tom Linebarger said in a prepared statement. "The work we have undertaken to reduce costs and lower inventory should benefit the company when the global economy improves, however, there is uncertainty surrounding the timing and pace of improvement in end markets in 2013."

The company said it trimmed its work force by about 650 employees, or 3 percent, in 2012 while also eliminating about 650 hourly positions."

http://www.ibj.com/cummins-earnings-revenue-fall-on-weaker-demand/PARAMS/article/39470

 

More corruption and illegal activity in the world banking system. I am sure if someone wrote a book (even 3 years ago) with all of this info about the banks it would have been deemed fiction. Now it has become almost a week revelation.

 

RBS pays £390m to settle Libor probe

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://www.ft.com/cms/s/0/fc3dbb14-7060-11e2-ab31-00144feab49a.html#ixzz2K9IZHwYU

 

 

Japanese banks accused of Tibor fixing

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. http://www.ft.com/cms/s/0/792d5b58-7010-11e2-8785-00144feab49a.html#ixzz2K9IlreQF

Another positive sign...

 

Retailers report strong January sales  

 

NEW YORK -- Major retailers including Macy's and Limited Brands are reporting strong sales in January as shoppers went back to the stores after the winter holidays to take advantage of clearance sales.

 

Twenty retailers reported on Thursday that revenue at stores opened at least a year -- an indication of a store's health -- rose an average of 5.1 percent, according to the International Council of Shopping Centers.

 

http://www.cleveland.com/business/index.ssf/2013/02/retailers_report_strong_januar.html#incart_river_default

Unemployment aid applications decline to 366,000

 

WASHINGTON  -- Fewer Americans sought unemployment benefits last week, indicating companies continue to hire at a modest but steady pace. The Labor Department said Thursday that weekly applications for unemployment benefits fell 5,000 to a seasonally adjusted 366,000.

The four-week average, a less volatile measure, dropped to 350,500, the lowest in nearly five years.

 

http://www.cleveland.com/business/index.ssf/2013/02/unemployment_aid_applications_15.html#incart_river_default