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Weekly Initial Claims Statistics (6/19)

EE Economist — Fri, 25 Jun 2010 03:21:12 +0000

The Department of Labor reports unemployment (initial claims) statistics as follows.

“In the week ending June 19, the advance figure for seasonally adjusted initial claims was 457,000, a decrease of 19,000 from the previous week’s revised figure of 476,000. The 4-week moving average was 462,750, a decrease of 1,500 from the previous week’s revised average of 464,250.”

These figures are still high and continued job losses may still be on the horizon.

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Bank Failures Rise To 78 In 2010

EE Economist — Tue, 01 Jun 2010 08:09:08 +0000

The FDIC seized 5 more banks, raising the totaled number of failed U.S banks in 2010 to 78. 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

Sun West Bank (Nevada) $360.7 million $353.9 million
Granite Community Bank (California) $102.9 million   $94.2 million
Bank of Florida – Tampa Bay (Florida) $245.2 million $224.0 million
Bank of Florida Southwest (Florida) $640.9 million   $559.9 million
Bank of Florida Southeast (Florida) $595.3 million   $531.7 million

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Apple Overtakes Microsoft As The World’s Largest Tech Company

EE Economist — Thu, 27 May 2010 23:08:23 +0000

Apple 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.”

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Bank Failures Rise To 73 In 2010

EE Economist — Mon, 24 May 2010 18:09:47 +0000

The 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.

Brief Rundown;

Bank Assets Deposits

Pinehurst Bank (Minnesota) $61.2 million $58.3 million

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Weekly Initial Claims Statistics (5/15)

EE Economist — Thu, 20 May 2010 18:11:38 +0000

The 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.

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Goldman Sach History

EE Economist — Thu, 20 May 2010 15:34:30 +0000

The Story Behind Goldman Sachs!

Source: Visual Economics

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1 In 7 U.S. Homeowners Are Paying Late Or In Foreclosure

EE Economist — Wed, 19 May 2010 18:10:33 +0000

Mortgage 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

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National Debt Under U.S. Presidents

EE Economist — Wed, 19 May 2010 16:08:37 +0000

Check 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

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Bank Failures Rise To 72 In 2010

EE Economist — Mon, 17 May 2010 07:34:12 +0000

The 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.

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

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Weekly Initial Claims Statistics (5/8)

EE Economist — Sat, 15 May 2010 01:49:26 +0000

The 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.

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