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Tansy_Gold

(17,816 posts)
Thu Apr 11, 2013, 08:19 PM Apr 2013

STOCK MARKET WATCH -- Friday, 12 April 2013

[font size=3]STOCK MARKET WATCH, Friday, 12 April 2013[font color=black][/font]


SMW for 11 April 2013

AT THE CLOSING BELL ON 11 April 2013
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Dow Jones 14,865.14 +62.90 (0.42%)
S&P 500 1,593.37 +5.64 (0.36%)
Nasdaq 3,300.16 +2.91 (0.09%)


[font color=black]10 Year 1.79% 0.00 (0.00%)
[font color=red]30 Year 3.01% +0.01 (0.33%)[font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[div]
[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.










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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]


57 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
STOCK MARKET WATCH -- Friday, 12 April 2013 (Original Post) Tansy_Gold Apr 2013 OP
"Brick!" Tansy_Gold Apr 2013 #1
Is that what the Brits mean Demeter Apr 2013 #2
Not just jobs. Everything. Fuddnik Apr 2013 #4
I keep voting to send them a message..... AnneD Apr 2013 #35
To me, voting for them insinuates approval. Fuddnik Apr 2013 #46
Don't blame me... AnneD Apr 2013 #53
Back from the Budget and Finance Committee monthly meeting Demeter Apr 2013 #3
Psst. (Can somebody explain the cartoon? Is dementia finally setting in?) n/t kickysnana Apr 2013 #5
I would if I could see it. . . . Tansy_Gold Apr 2013 #6
I can see it now, hope you can in the morning. kickysnana Apr 2013 #7
Yep, it's back! Tansy_Gold Apr 2013 #40
Means Obama is shooting bricks (basketball term for bad shot) re: jobs Roland99 Apr 2013 #32
I thought it was spelled differently Demeter Apr 2013 #50
heh...that, too! Roland99 Apr 2013 #57
Thanks. kickysnana Apr 2013 #56
I'm conserving energy for the Weekend Demeter Apr 2013 #8
14 American Cities Getting Buried By Foreclosures xchrom Apr 2013 #9
Markets Are Tumbling In Europe xchrom Apr 2013 #10
Precious metals and Oil futures dropping like stones, too Demeter Apr 2013 #15
I look upon the PM Drops... AnneD Apr 2013 #37
The Hedge's are cleaning up the paper markets. westerebus Apr 2013 #48
JPMORGAN CEO: 'WORK TO DO' ON CONTROLS, COMPLIANCE xchrom Apr 2013 #11
Cyprus may sell some gold reserves to help fund bailout xchrom Apr 2013 #12
And THAT my dear friends..... AnneD Apr 2013 #38
Cyprus to appeal to EU for extra bailout assistance xchrom Apr 2013 #13
The handwriting is on the wall DemReadingDU Apr 2013 #29
... xchrom Apr 2013 #33
I was studying to dance the part of the duck for Severo Ballet Co Demeter Apr 2013 #42
Wow! Sorry about the illness. Nt xchrom Apr 2013 #44
It was a long time ago. Demeter Apr 2013 #45
Bitcoin panic selling halves its value xchrom Apr 2013 #14
Somehow, I don't see this as an "Improved form of exchange" Demeter Apr 2013 #16
good morning miss demeter -- it's raining and windy, windy windy here. xchrom Apr 2013 #17
I do tons of research before I do anything..... AnneD Apr 2013 #39
Bitcoin Is No Longer a Currency xchrom Apr 2013 #18
Duh! DemReadingDU Apr 2013 #26
The clean fresh smell of .... PONZI! Demeter Apr 2013 #43
Yes, Ponzi Scheme siligut Apr 2013 #54
Then again, CNBC just reported that billionaires are smarter than the rest of us siligut Apr 2013 #55
European finance ministers reach agreement on Irish debt deal xchrom Apr 2013 #19
IMF distances itself from comments against austerity xchrom Apr 2013 #20
Austria vows to keep banking secrecy laws xchrom Apr 2013 #21
Bailout Bargaining: Cypriot Shortfall Irks German Conservatives xchrom Apr 2013 #22
Luxury Pensioners: German Execs Scrutinized over Fat Retirement Plans xchrom Apr 2013 #23
War profiteers--the aftermath Demeter Apr 2013 #47
Guess I will go with Pink Floyd kickysnana Apr 2013 #24
Excellent. :) mother earth Apr 2013 #41
This one's better. Fuddnik Apr 2013 #49
YIKES: RETAIL SALES UNEXPECTEDLY SINK xchrom Apr 2013 #25
Unexpected, couldn't be forseen, etc. etc. DemReadingDU Apr 2013 #27
indeed. nt xchrom Apr 2013 #28
Consumer sentiment drops in April to 9-month low Roland99 Apr 2013 #30
US Markets down lightly on earnings/sentiment. Oil down over $2/bbl Roland99 Apr 2013 #31
WEAK START FOR STOCKS ON WALL STREET; BANKS SLIDE xchrom Apr 2013 #34
US BUSINESSES BOOSTED STOCKPILES ONLY 0.1 PCT. xchrom Apr 2013 #36
With all the clearance racks, there's no place for new stuff Demeter Apr 2013 #51
ETA News Release: Unemployment Insurance Weekly Claims Report (04/11/2013) mahatmakanejeeves Apr 2013 #52

Fuddnik

(8,846 posts)
4. Not just jobs. Everything.
Thu Apr 11, 2013, 09:03 PM
Apr 2013

King Midas with a shit touch.

I gotta stay outta Jonestown. It's assholes like them that make me want to sit out an election and give them what they deserve.

AnneD

(15,774 posts)
35. I keep voting to send them a message.....
Fri Apr 12, 2013, 10:12 AM
Apr 2013

but no one seems to be listening. That may become my new tag line.

Fuddnik

(8,846 posts)
46. To me, voting for them insinuates approval.
Fri Apr 12, 2013, 11:33 AM
Apr 2013

I don't approve.

I remember the 2006 Florida Governors race. Charlie Crist(R) v Jim Davis(D). I know Jim Davis. He's an asshole. A right-wing corporatist Democrat. He was one of 27 "New Dems" who signed a letter to Dennis Hastert to hurry up and bring that awful Bankruptcy Reform Act to the floor, so they could vote for it. I called him an asshole to his face. But, as a member of my County DEC I was forced to support him.

I don't approve!

 

Demeter

(85,373 posts)
3. Back from the Budget and Finance Committee monthly meeting
Thu Apr 11, 2013, 08:48 PM
Apr 2013

The condo association is in great shape, the co-op is about to be dissolved, the daffodils are ready to burst into bloom, it's supposed to snow tonight, and hit 72F on Monday.

The condos sell in days. The entire city of Ann Arbor has no real estate inventory to speak of. There are no jobs, but students these days want to live in style, it seems.

In other news....well, that's what we are here for.

 

Demeter

(85,373 posts)
8. I'm conserving energy for the Weekend
Fri Apr 12, 2013, 07:02 AM
Apr 2013

and since it is Euchre Night, the Weekend starts late. We will be chopping up the Iron Lady, burying a Mouseketeer, and pulling the covers off the economy and the government. Or at least, making an honest attempt.

But meanwhile: here's Tom Tolles take on the foolishness:

http://assets.amuniversal.com/4fe9b910850401302892001dd8b71c47

xchrom

(108,903 posts)
9. 14 American Cities Getting Buried By Foreclosures
Fri Apr 12, 2013, 08:05 AM
Apr 2013
http://www.businessinsider.com/us-cities-with-most-foreclosures-2013-4?op=1


Akron, Ohio
1 in every 417 homes received a foreclosure filing in March 2013
Properties with foreclosure filings:
748
Change from February 2013:
-7.54 percent
Change from March 2012:
+19.87 percent


Dayton, Ohio
1 in every 416 homes received a foreclosure filing in March 2013
Properties with foreclosure filings:
924
Change from February 2013:
+0.11 percent
Change from March 2012:
+106.71 percent


Olympia, Washington
1 in every 411 homes received a foreclosure filing in March 2013
Properties with foreclosure filings:
260
Change from February 2013:
+124.14 percent
Change from March 2012:
+584.21 percent


Read more: http://www.businessinsider.com/us-cities-with-most-foreclosures-2013-4?op=1#ixzz2QFZ00iZI

xchrom

(108,903 posts)
10. Markets Are Tumbling In Europe
Fri Apr 12, 2013, 08:08 AM
Apr 2013
http://www.businessinsider.com/european-markets-april-12-2013-2013-4

Markets are down early in the European trading session.
England's FTSE is down 0.5%.
France's CAC 40 is down 0.6%.
Germany's DAX is down 0.8%.
Spain's IBEX is down 1.0%.
Italy's FTSE MIB is down 0.9%.


Read more: http://www.businessinsider.com/european-markets-april-12-2013-2013-4#ixzz2QFZqjmfi
 

Demeter

(85,373 posts)
15. Precious metals and Oil futures dropping like stones, too
Fri Apr 12, 2013, 08:27 AM
Apr 2013

What's up with all that? They run out of crack?

AnneD

(15,774 posts)
37. I look upon the PM Drops...
Fri Apr 12, 2013, 10:26 AM
Apr 2013

as a fire sale/buying opportunity. There is heavy manipulation of the price market, but then you have to ask yourself...Why is China buying and not selling among others. At the coin shop I go to, they have a hard time these days filling orders. And Why are the gold and silver buyers popping up like crab grass on every street corner.

Who are you going to believe, your lying eyes or the news paper? Do you really think you will get your money back in the stock market.

westerebus

(2,976 posts)
48. The Hedge's are cleaning up the paper markets.
Fri Apr 12, 2013, 11:35 AM
Apr 2013

They just had their "information sharing" meeting with their accomplice(plural).

The selection for the new FED chairman has been discussed would be my best guess.

xchrom

(108,903 posts)
11. JPMORGAN CEO: 'WORK TO DO' ON CONTROLS, COMPLIANCE
Fri Apr 12, 2013, 08:14 AM
Apr 2013
http://hosted.ap.org/dynamic/stories/U/US_EARNS_JPMORGAN?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-04-12-07-47-53

NEW YORK (AP) -- JPMorgan Chase, the country's biggest bank by assets, says its first-quarter earnings soared, even as revenue fell slightly.

The bank made $6.1 billion in the first quarter, after stripping out payments to preferred shareholders. That was up 34 percent from the same period a year ago, when it made $4.6 billion.

On a per-share basis, that amounted to $1.59. That blew away the estimates of analysts polled by FactSet, who had been expecting $1.39.

Revenue and profit fell in its retail banking business, but increased in investment banking. JPMorgan funded $53 billion in mortgages, a jump of 37 percent from a year ago. But profits in the mortgage unit fell 31 percent, and the bank said profit margins were lower.

xchrom

(108,903 posts)
12. Cyprus may sell some gold reserves to help fund bailout
Fri Apr 12, 2013, 08:16 AM
Apr 2013
http://www.bbc.co.uk/news/business-22106187

Cyprus may sell off some of its gold reserves to help finance part of its bailout, according to reports.

An assessment by the European Commission says Cyprus must sell about 400m euros (£341m) worth of gold.

The country has already been forced to wind down one of its largest banks in order to qualify for a 10bn euro lifeline from international lenders.

Even with that bailout, it is predicted that the Cypriot economy will shrink by 8.7% this year.

AnneD

(15,774 posts)
38. And THAT my dear friends.....
Fri Apr 12, 2013, 10:28 AM
Apr 2013

is what the crooks at the IMF and EU Banksters want. I think Germany will not have to worry about their missing gold now.

xchrom

(108,903 posts)
13. Cyprus to appeal to EU for extra bailout assistance
Fri Apr 12, 2013, 08:18 AM
Apr 2013
http://www.bbc.co.uk/news/business-22116270

Cyprus president Nicos Anastasiades has said he will appeal for extra assistance from the European Union.

On Thursday, it emerged that Cyprus would need to raise an extra 6bn euros ($7.8bn; £5.1bn) to secure a 10bn euro bailout from Brussels and the IMF.

Mr Anastasiades is urging EU leaders to change their policy towards Cyprus, but he is not asking for more money.

He made the announcement ahead of a eurozone finance ministers meeting in Dublin.

DemReadingDU

(16,000 posts)
29. The handwriting is on the wall
Fri Apr 12, 2013, 09:58 AM
Apr 2013

Leave the Euro, now.

Else, the Troika and IMF will come for all the rest of your money.


 

Demeter

(85,373 posts)
42. I was studying to dance the part of the duck for Severo Ballet Co
Fri Apr 12, 2013, 11:22 AM
Apr 2013

and was hospitalized for viral myocarditis...I was 10 years old.

That was the FIRST career shot out from under me.

 

Demeter

(85,373 posts)
45. It was a long time ago.
Fri Apr 12, 2013, 11:32 AM
Apr 2013

I've apparently made recovery...but it freaked the parents out, probably permanently.

Like those sports guys who drop dead on the basketball court or football field and stuff...

xchrom

(108,903 posts)
14. Bitcoin panic selling halves its value
Fri Apr 12, 2013, 08:20 AM
Apr 2013
http://www.bbc.co.uk/news/technology-22105322

The Bitcoin virtual currency lost half its value on Wednesday because of a panic sell-off.

From a high of $260 (£169) for each Bitcoin, the value dropped to about $130 (£84) in just six hours.

The selling frenzy began as Bitcoin's main exchange, MTGox, struggled to keep up with the volume of trade in the virtual currency.

MTGox said it was working hard to improve the exchange to avoid future trading problems.
 

Demeter

(85,373 posts)
16. Somehow, I don't see this as an "Improved form of exchange"
Fri Apr 12, 2013, 08:29 AM
Apr 2013

but maybe that's just me.

Good morning, X, from soggy Michigan!

It looks like the usual weather patterns have re-formed, after a couple of years of chaos. Maybe that guy dumping iron into the Pacific did some good, after all.

xchrom

(108,903 posts)
17. good morning miss demeter -- it's raining and windy, windy windy here.
Fri Apr 12, 2013, 08:38 AM
Apr 2013

it's certainly wild spring weather here.

AnneD

(15,774 posts)
39. I do tons of research before I do anything.....
Fri Apr 12, 2013, 10:35 AM
Apr 2013

Max Keiser has been talking about bit coin. There is much to like about it but it is still new. I may get some just to diversify.

All you have to remember is all those tapes you bought on beta, or cassettes, or 8 track.....I will not be jumping in with both feet. Even Max is talling the bit coin folk to put a portion of their profits in silver.

xchrom

(108,903 posts)
18. Bitcoin Is No Longer a Currency
Fri Apr 12, 2013, 08:41 AM
Apr 2013
http://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/

Bitcoin might be a bubble or it might be THE FUTURE, but there's one thing it's not: a currency. It's a tech stock. The question is whether it's Pets.com or Paypal.

Now, for the uninitiated, Bitcoin is supposed to be the online currency that will free us from state-backed ones. It's a cryptographically-sophisticated virtual currency you can use to buy real things over peer-to-peer networks without leaving a trace in the real world. The idea is to create money that central banks can't debase and governments can't tax. In other words, digital gold. Actually, make that anonymous digital gold.

Okay, but where do Bitcoins come from exactly? Well, that's where the 21st-century alchemy comes in. Like gold, there's a limited supply of Bitcoins that grows at a limited rate. Anyone can "mine" for new Bitcoins by running a computationally-taxing program on their computer that spits out a lot of garbage, and, maybe, a little (virtual) gold. But there aren't many new ones to be found. And there won't be any after 2040. That's when the system is expected to hits its self-imposed limit of 21 million Bitcoins.

In other words, Bitcoin has a massive deflationary bias. Its money supply is mostly fixed, but the menu of things it can buy is growing. The same amount of money chasing more goods means money will be worth more. Or, put another way, prices will fall in Bitcoin terms.

siligut

(12,272 posts)
55. Then again, CNBC just reported that billionaires are smarter than the rest of us
Fri Apr 12, 2013, 01:29 PM
Apr 2013

Maybe tech billionaires, but seriously I don't think the study was scientific.

xchrom

(108,903 posts)
19. European finance ministers reach agreement on Irish debt deal
Fri Apr 12, 2013, 08:52 AM
Apr 2013
http://www.irishtimes.com/business/economy/ireland/european-finance-ministers-reach-agreement-on-irish-debt-deal-1.1358329

Agreement was reached by eurozone finance ministers on a seven year extension to Ireland and Portugal’s bailout loands at a meeting in Dublin this morning.

Extending the term of the loans is another important step in Ireland exiting its bailout programme, European Union economics commissioner Olli Rehn told journalists after the meeting.

Ending the maturity dates of Ireland and Portugal’s bailout loans is not an admission that bailouts don’t work, Dutch finance minister Jeroen Dijsselbloem said on the way into the informal meeting of European finance ministers

xchrom

(108,903 posts)
20. IMF distances itself from comments against austerity
Fri Apr 12, 2013, 08:54 AM
Apr 2013
http://www.irishtimes.com/business/economy/ireland/imf-distances-itself-from-comments-against-austerity-1.1358319

http://www.irishtimes.com/polopoly_fs/1.1358317.1365762270!/image/image.jpg_gen/derivatives/box_600/image.jpg
The IMF pointed out that Ashoka Mody had retired from the IMF “and his views do not represent the fund’s position”

The International Monetary Fund has distanced itself from comments by the fund’s former mission chief to Ireland, Ashoka Mody, who said complete reliance on austerity was not “a reasonable” way to go.

“Choice one was to bring in the bondholders and they would bear some of the cost of the sovereign distress. A second choice was to offer extremely concessional official financing. Third choice was to impose austerity,” he had said.

The IMF pointed out that Mr Mody had retired from the IMF “and his views do not represent the fund’s position”.

Ireland's bailout programme, it said “has tackled major challenges in the banking sector and has steadily reduced the fiscal deficit from unsustainably high levels through a consolidation effort that is phased over time”.

xchrom

(108,903 posts)
21. Austria vows to keep banking secrecy laws
Fri Apr 12, 2013, 08:58 AM
Apr 2013
http://www.irishtimes.com/business/sectors/health-pharma/austria-vows-to-keep-banking-secrecy-laws-1.1358371

http://www.irishtimes.com/polopoly_fs/1.1358370.1365759345!/image/image.jpg_gen/derivatives/box_600/image.jpg
Austrian Finance Minister Maria Fekter said "Austria is sticking to bank secrecy. We fight tax evasion and money laundering.” Photograph: David Sleator/The Irish Times

Austria will keep its banking secrecy laws and resist pressure from European leaders to reveal information about account holders, Austrian Finance Minister Maria Fekter said as European leaders gathered in Dublin this morning.

The move comes as Luxembourg agreed to share details about its European depositors by 2015 earlier this week.
Ms Fekter said "Austria is sticking to bank secrecy. We fight tax evasion and money laundering.

“Automatic exchange of information involves a massive interference in people's privacy rights. Here the state sniffs around deep into the private affairs of account holders."

xchrom

(108,903 posts)
22. Bailout Bargaining: Cypriot Shortfall Irks German Conservatives
Fri Apr 12, 2013, 09:33 AM
Apr 2013
http://www.spiegel.de/international/europe/growing-bailout-german-conservatives-angered-by-cypriot-shortfall-a-894004.html

The euro-zone finance ministers are meeting in Dublin on Friday to approve a European Union bailout package for Cyprus. The international donors are expected to provide €10 billion ($13 billion) in funds. One billion is to come from the International Monetary Fund (IMF), and €9 billion is to be supplied by the European Stability Mechanism (ESM), the permanent euro bailout fun. Cyprus itself is expected to provide €13 billion after the government confirmed this week that the country would require €5.5 billion more than originally thought.

The new shortfall in the bailout has sparked critical comments among Chancellor Angela Merkel's conservatives in Germany. Though Volker Kauder, who heads the parliamentary group of her Christian Democrats, said he believed the aid package would be approved by Germany's Bundestag next week, a veto could form within the party's economic wing, which has a large number of members, if certain conditions aren't met.

"We will deliberate on the aid package next week in the Bundestag and be able to approve it," Kauder told the daily Passauer Neue Presse. The conservatives could count on the support of the center-left Social Democrats and the Green Party, he added. SPD General Secretary Andrea Nahles also signaled her party's support. The politician praised Cyprus for a last-minute move that shielded ordinary savers with less than €100,000 in their accounts from a one-time levy on bank accounts in the country as part of the bailout package.

'The Financing Shortfalls Are Giant'

However, Christian von Stetten, the chairman of the significant wing of the conservative Christian Democrats representing the Mittelstand, or small- and medium-sized businesses, said that Cyprus still needs to prove that it can finance the additional €5.5 billion it needs on its own. "If that's not possible, then we can rule out the approval of the planned €10 billion bailout by the Bundestag," he said. On Wednesday, Stetten traveled together with a delegation from the Bundestag's Finance Committee to

Cyprus. Of the 237 members of parliament with Merkel's Christian Democratic Union, 145 are part of the Mittelstand group.


***aren't german conservatives born irked?

xchrom

(108,903 posts)
23. Luxury Pensioners: German Execs Scrutinized over Fat Retirement Plans
Fri Apr 12, 2013, 09:35 AM
Apr 2013
http://www.spiegel.de/international/business/luxury-pensions-new-target-in-german-executive-pay-debate-a-893537.html

There are no longer many certainties in the lives of Edwin Eichler, Olaf Berlien and Jürgen Claasen. At the moment, the three former executive board members of steelmaker ThyssenKrupp don't know what the future holds for them. Will they be able to find new jobs, or are they simply no longer capable of being placed?

They were let go at the end of last year after ThyssenKrupp posted a loss of €5 billion ($6.5 billion). There had been some failed business deals in North and South America, and the supervisory board wanted to send a message. Now the three managers are tainted with the reputation of being the personification of failure.

But there is one thing the three men can depend upon: a generous pension that should enable them to lead a carefree life. Eichler and Berlien will each receive €402,000 a year. Claasen, who had a shorter tenure on the executive board, will receive half that amount.

Tidy Rate of Return

The terms under which the men will receive their benefits are also favorable. Instead of having to wait until their 67th birthdays, like normal employees, they will begin collecting benefits at age 60. The managers won't even have to worry about external hardships, like rising inflation. At ThyssenKrupp, executive pensions are "adjusted annually according to the Consumer Price Index."

xchrom

(108,903 posts)
25. YIKES: RETAIL SALES UNEXPECTEDLY SINK
Fri Apr 12, 2013, 09:40 AM
Apr 2013
http://www.businessinsider.com/march-retail-sales-2013-4

The March retail sales report is out.
The headline number fell by 0.4%. Economists expected sales to be unchanged from a month ago.
Excluding autos and gas, sales fell 0.1%. Economists were looking for a gain of 0.3%.
All around, these are ugly numbers.


Read more: http://www.businessinsider.com/march-retail-sales-2013-4#ixzz2QFwyBcIM

Roland99

(53,342 posts)
30. Consumer sentiment drops in April to 9-month low
Fri Apr 12, 2013, 10:05 AM
Apr 2013
http://www.marketwatch.com/story/consumer-sentiment-drops-in-april-to-9-month-low-2013-04-12?link=MW_home_latest_news

The University of Michigan-Thomson Reuters consumer-sentiment gauge dropped to a preliminary April reading of 72.3 -- the lowest result since July -- from a final March reading of 78.6, reports said Friday. Economists polled by MarketWatch had expected a preliminary April reading of 79.3. However, consumers have faced negative news on jobs and federal spending. The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the start of the most recent recession. Economists watch sentiment data to get a feel for the direction of consumer spending. Elsewhere Friday, the government reported that retail sales fell 0.4% in March, the largest decline since June


Roland99

(53,342 posts)
31. US Markets down lightly on earnings/sentiment. Oil down over $2/bbl
Fri Apr 12, 2013, 10:06 AM
Apr 2013
[font color="red"] Dow 14,829 -35 0.24%
Nasdaq 3,288 -12 0.37%
S&P 500 1,586 -7 0.46%
GlobalDow 2,143 -13 0.60%
Gold 1,534 -32 2.04%
Oil 91.32 -2.22 2.37% [/font]


xchrom

(108,903 posts)
34. WEAK START FOR STOCKS ON WALL STREET; BANKS SLIDE
Fri Apr 12, 2013, 10:12 AM
Apr 2013
http://hosted.ap.org/dynamic/stories/U/US_WALL_STREET_OPEN?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-04-12-09-49-15

NEW YORK (AP) -- The stock market is heading lower in early trading after a four-day rise as bank shares weaken.

Wells Fargo and JPMorgan fell after reporting revenue that was lower than analysts were expecting. JPMorgan and Bank of America led the Dow Jones industrial average lower shortly after the opening bell Friday.

The Dow was down 18 points at 14,848, a loss of 0.1 percent. It had gained 300 points over the previous four days.

The Standard & Poor's 500 was down four points, or 0.3 percent, to 1,588. The Nasdaq composite was down six points, or 0.2 percent, at 3,293.

xchrom

(108,903 posts)
36. US BUSINESSES BOOSTED STOCKPILES ONLY 0.1 PCT.
Fri Apr 12, 2013, 10:14 AM
Apr 2013
http://hosted.ap.org/dynamic/stories/U/US_BUSINESS_INVENTORIES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-04-12-10-08-05

WASHINGTON (AP) -- U.S. companies restocked their shelves at a much slower pace in February than January, a sign they expected consumer and business spending to weaken.

The Commerce Department says business stockpiles increased only 0.1 percent in February. That's the smallest gain since June and down from a 0.9 percent increase in January, which was revised slightly lower.

Total business sales rose at a healthy 1.2 percent pace in February, mostly because retail sales grew. But a separate report Friday showed retail sales fell in March.

Restocking helps drive economic growth. When companies order more goods, factory output increases. Economists had expected a bigger gain in stockpiles in February, so the lackluster increase could lead some to pare back their economic growth forecasts for the January-March quarter.

mahatmakanejeeves

(56,896 posts)
52. ETA News Release: Unemployment Insurance Weekly Claims Report (04/11/2013)
Fri Apr 12, 2013, 12:29 PM
Apr 2013

Yes, this is from yesterday.

Source: Department of Labor, Employment and Training Administration

Read more: http://www.dol.gov/opa/media/press/eta/ui/ETA20130647.htm

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending April 6, the advance figure for seasonally adjusted initial claims was 346,000, a decrease of 42,000 from the previous week's revised figure of 388,000. The 4-week moving average was 358,000, an increase of 3,000 from the previous week's revised average of 355,000.

The advance seasonally adjusted insured unemployment rate was 2.4 percent for the week ending March 30, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending March 30 was 3,079,000, a decrease of 12,000 from the preceding week's revised level of 3,091,000. The 4-week moving average was 3,079,250, an increase of 5,250 from the preceding week's revised average of 3,074,000.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 353,973 in the week ending April 6, an increase of 37,025 from the previous week. There were 390,064 initial claims in the comparable week in 2012.
....

The largest increases in initial claims for the week ending March 30 were in Pennsylvania (+3,015), New Jersey (+2,409), Illinois (+2,149), Kentucky (+1,718), and Wisconsin (+1,583), while the largest decreases were in Texas (-3,489), California (-2,661), North Carolina (-1,601), Arkansas (-1,221), and Connecticut (-774).

== == == ==

Good morning, Freepers and DUers alike. I ask you to put aside your differences long enough to read this post. Following that, you can engage in your usual donnybrook.

I have been posting the number every week for at least a year. I seriously do not care if the week's data make Obama look good. They are just numbers, and I post them without regard to the consequences. I welcome people from Free Republic to examine the numbers as well. They paid for the work just as much as members of DU did, so I invite them to come on over and have a look. "The more the merrier" is the way I look at it.

I do not work at the ETA, and I do not know anyone working in that agency. I'm sure I can safely assume that the numbers are gathered and analyzed by career civil servant economists who do their work on a nonpartisan basis. Numbers are numbers, and let the chips fall where they may. If you feel that these economists are falling down on the job, drop them a line or give them a call. They work for you, not for any politician or political party.

The word "initial" is important. The report does not count all claims, just the new ones filed this week.

Note: The seasonal adjustment factors used for the UI Weekly Claims data from 2007 forward, along with the resulting seasonally adjusted values for initial claims and continuing claims, have been revised. These revised historical values, as well as the seasonal adjustment factors that will be used through calendar year 2012, can be accessed at the bottom of the following link: http://www.oui.doleta.gov/press/2012/032912.asp

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