Copyright © 2012 Exclusive Economy. All Rights Reserved.
Archive for May, 2010
PrintThe Department of Labor reports unemployment (initial claims) statistics as follows.
“In the week ending May 22, the advance figure for seasonally adjusted initial claims was 460,000, a decrease of 14,000 from the previous week’s revised figure of 474,000. The 4-week moving average was 456,500, an increase of 2,250 from the previous week’s revised average of 454,250.”
These figures are still high and continued job losses may still be on the horizon.
Print Continue Reading »
PrintApple has dethroned Microsoft. Apple is the world largest tech company by $3 billion dollars!
From the New York Times:
“As of Wednesday, Wall Street valued Apple at $222.12 billion and Microsoft at $219.18 billion. The only American company valued higher is Exxon Mobil, with a market capitalization of $278.64 billion.
The revenue of the two companies are comparable, with Microsoft at $58.4 billion and Apple at $42.9 billion. Microsoft is sitting on more cash and short-term investments, $39.7 billion, to Apple’s $23.1 billion, which makes the value assigned by the market to Apple — essentially a bet on its future prospects — all the more remarkable.”
Print Continue Reading »
PrintThe FDIC seized 1 more bank, raising the totaled number of failed U.S banks in 2010 to 73. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.
According to the FDIC bank failures from 2009 to 2013 is expected to cost $100 billion. Small(regional) banks are failing due to the loan losses from the credit boom. Many losses are result of the collapsed commercial real estate projects.
Brief Rundown;
Bank Assets Deposits
Pinehurst Bank (Minnesota) $61.2 million $58.3 million
Print Continue Reading »
PrintThe National Association of REALTORS Press Release: Existing-Home Sales Rise
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 5.77 million units in April from an upwardly revised 5.36 million in March, and are 22.8 percent higher than the 4.70 million-unit pace in April 2009.
…
Total housing inventory at the end of April rose 11.5 percent to 4.04 million existing homes available for sale, which represents an 8.4-month supply at the current sales pace, up from an 8.1-month supply in March.
PrintThe Department of Labor reports unemployment (initial claims) statistics as follows.
“In the week ending May 15, the advance figure for seasonally adjusted initial claims was 471,000, an increase of 25,000 from the previous week’s revised figure of 446,000. The 4-week moving average was 453,500, an increase of 3,000 from the previous week’s unrevised average of 450,500.”
These figures are still high and continued job losses may still be on the horizon.
Print Continue Reading »
PrintMortgage Bankers Association reported that 1 in 7 U.S. households with a mortgage ended the first quarter in foreclosures or in late payments. A long path to recovery remains even though foreclosures rates have slowed down, a stockpile of loans are still present.
“It’s like shutting off the oil leak, but you still have a lot of oil in the Gulf to deal with,” Jay Brinkmann, the MBA’s chief economist
Print Continue Reading »
PrintCheck out this chart below, it shows the National Debt as a percentage of GDP. It doesn’t matter which presidents you like or don’t like, but data doesn’t lie. Many critics assume that deficits were created on January 20th, 2009!
Source: zFacts.com
Print Continue Reading »
PrintThe FDIC seized 4 more banks, raising the totaled number of failed U.S banks in 2010 to 72. FDIC Chairman Sheila Bair has said in the current banking crisis, failures will peak in 2010.
According to the FDIC bank failures from 2009 to 2013 is expected to cost $100 billion. Small(regional) banks are failing due to the loan losses from the credit boom. Many losses are result of the collapsed commercial real estate projects.
Brief Rundown;
Bank Assets Deposits
Southwest Community Bank (Missouri) $96.6 million $102.5 million
Midwest Bank and Trust Company (Illinois) $3.17 billion $2.42 billion
New Liberty Bank (Michigan) $109.1 million $101.8 million
Satilla Community Ban (Georgia) $135.7 million $134.0 million
PrintThe Department of Labor reports unemployment (initial claims) statistics as follows.
“IIn the week ending May 8, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 4,000 from the previous week’s revised figure of 448,000. The 4-week moving average was 450,500, a decrease of 9,000 from the previous week’s revised average of 459,500.”
These figures are still high and continued job losses may still be on the horizon.
Print Continue Reading »