President Obama’s salary and pension may be exempt from sequestered cuts but that hasn’t stopped him from taking the same cut that other federal employees are being subjected to due to budget sequestration. Today, it was announced that the POTUS plans to return 5% of his $400,000 annual salary in response to and in support of federal workers who are going to be furloughed.… [Read more]
A few days ago, the issue of earned sick days for workers was in the news. Its was noted that, for example, more than a million residents of New York who do not have paid sick days and that suffering an illness means losing out on a pay check at best and a job at worst. … [Read more]
Legacies. If or when elected officials think about how their constituents will remember them once they’re out of office, what thoughts cross their minds? Do they think about how they could have left their jurisdictions better than they found them? Do they give thought to how they could have reached back a little bit more to help those who were most in need of their support?… [Read more]
Though the news this week is of the election of Pope Francis and what this means for the Catholic Church’s Legacy following the resignation of Benedict XVI, I want to focus on the big news last week. Last Thursday, the Dow Jones Industrial Average hit the astronomical all-time high of 14,253.77, and has continued breaking records for nine straight trading days.… [Read more]
So the Republican-controlled House of Representatives proposed a $982 billion bill to fund the government for the rest of the fiscal year instead of more brinksmanship. Before we start dancing in the streets, and name a few golf courses and watering holes after House Speaker John Boehner (R-Ohio), the devil is again in the details.
As a former Federal agency budget analyst and before that, a military comptroller, we need to look beyond the spin platitudes and delve into the numbers.… [Read more]
Two-time Pulitzer winning cartoonist Mike Luckovich, of the Atlanta Journal-Constitution, sketched an appropriate cartoon the other day on the string of inept GOP brinksmanship showdowns. Yes, America is tired of it. Making a mess in the kitchen, and leaving it for the missus is not a path to domestic bliss.
Kowtowing to the Tea Terrorists, House Speaker John Boehner (R-Oh.) “led” his ‘Party of No’ on another sabotage raid on the American economy.… [Read more]
How many times must the GOP and its laughable public relations firm, Fox News, be wrong before they realise that it’s a good idea to remain silent?
When an announcement came from the office of the Israeli President, Shimon Peres, on Monday that President Obama will receive the Presidential Medal of Distinction – the first time ever that Israel has given this honour to a sitting US president – I wondered just what will it take?… [Read more]
For a guy who never has to face another election to keep his job, President Obama confidently strode to the dais to deliver a bright, ambitious smorgasbord of public needs and his answers to a weary, but recovering, nation saddled by an obstructionist Congress.
In a stirring address, the President told the Joint Session of Congress, America, and the world, that while much has been accomplished, much remains to be done. … [Read more]
A FRONTLINE documentary titled “The Untouchables” aired on PBS stations last night. The focus on the financial system meltdown of over four years ago may have been eye-opening to anyone who hasn’t been paying attention to the financial services industry but, for the rest of us who have a Wall Street-sized chip on our shoulders, the excellent documentary served to heighten our disgust at the fact that no bankers were jailed for crumbling the U.S.… [Read more]
Yesterday, 10 US banks and mortgage firms agreed to pay $8.5 billion to settle complaints of wrongful foreclosures. Federal regulators undertook an extensive review process of homeowner foreclosure files as required under an enforcement action filed during 2011. According to terms of the agreement the banks – which include several of the nation’s largest financial institutions such as Citigroup, JP Morgan Chase, Bank of America and Wells Fargo – will end up paying individual homeowners anywhere from several hundred dollars to $125,000 once it has been determined that those individuals were wrongly foreclosed upon.… [Read more]
Yes, by now many of you have heard that a fiscal cliff deal was passed late last night in the House of Representatives. Neither side of the political aisle is completely happy with the final deal; those who wanted more spending cuts are dismayed that so-called entitlement programs were taken off the table, and those who sought more revenues are not happy that President Obama received only half of the revenues – about $600 billion – requested from an increase in taxes currently paid by the wealthiest Americans.… [Read more]
For many months those of us who have been paying attention to financial and economic reports have heard that the economy is growing, albeit too slow for our tastes. That’s great news on a macro level but, on an individual level, it’s all too common to still hear stories about people who are falling through the economic recovery’s cracks.… [Read more]
Ask most and they will tell you there are two ways to salvage an economy: the revenue side, by way of taxation or fees, or on the the spending side, by way of expenditure reductions. Determining where and how much is the point at which negotiations and compromise get bogged down.
The President re-elect has released his budget for 2013 that the administration believes is fair; at another time in history the budget would be viewed as pragmatically centrist.… [Read more]
Everyone is concerned about our economy. Fiscal cliffs and what-have-you.
The easiest and best way for all of us to do something RIGHT NOW to help is to support small businesses.
That’s right. Forget the big box stores and the corporate greed, and go local and go small.
When you support small businesses, you put money back in the pockets of the middle class.… [Read more]
The Dow Jones Industrial Average is a very general metric one can use to ‘feel out’ stock market performance. Merriam-Webster defines the word “dow” as useful or capable, but the old English dictates ‘having worth’ as the initial utilization of the term. Nasdaq, the second largest stock exchange, is purely the tech market on display; its ebbs and flows reflect trading activity for publicly-traded technology companies.… [Read more]
“A note on republican bullshit on the deficit” elicited some negative responses from my republican friends. After reading the responses, it became clear to me that one needs to call out the Republican bullshit on capitalism as well. These guys are so enamored with this catchword that they fail to look at the implementation.
Now that I think back, the biggest piece of crap to go unchallenged prior to the last election is this perceived ‘opposition to capitalism’ from democrats.… [Read more]
Now that the dust has settled on the Presidential election (I’m still smiling) things will slowly but surely get back to normal in Washington. Despite recent assurances from House Speaker John Boehner regarding ‘working together’ we can expect more Republican bickering and attempts to derail and stall anything and everything that might just be beneficial to America as a whole.… [Read more]
Back in July, CNBC.com reported that former Citigroup chairman and CEO Sanford ‘Sandy’ Weill was calling for additional Wall Stret reforms that would break up the major Wall Street banks. At a time when the regulation of the financial industry is playing a major role in the presidential campaign debate, Weill’s comments aren’t likely to be viewed in a positive light by the GOP candidate, Mitt Romney, who has repeatedly called for the Dodd-Frank financial reforms to be repealed.… [Read more]
The claim that Tea Party mentality exported American jobs does appear to be counter-intuitive. However, if you care to keep on reading then you will see the proof behind this claim.
In the first post of this series we looked at what happened with American “corporations” during the 20 odd years leading to 1970.… [Read more]
We have looked at what happened in the field of corporate strategy untll 1970 in my last post. Now let us take a quick look (in overly simplistic terms) at what happened in the field of Corporate Finance during the same period.
It could be argued that ‘modern finance’ started with a 1952 paper from 25-year old student named Harry Markowitz.… [Read more]