Thursday, April 9, 2009
Overview of President Obama's trip to the G20 summit this Week
On Obama’s Weekly Video Podcasts, President Obama explains to the United States the extreme importance of keeping good relations with nations all over the globe. During this week President Obama has certainly added to his frequent flyer miles meeting with the G20 Summit, Chinese President Hu Jintao, and Russian President Dmitri Medvedev. These meetings taking place in London were conducted for building reforms to help neutralize our economic, terrorist and environmental problems on a global scale. At the G 20 summit President Obama explains that each country is building economic strategies trying to help their banks to start lending in this global economic recession. President Obama states on the importance of the G 20 summit trying to create innovative techniques to spur growth and gain jobs for the millions all over the world. Also, the G20 summit is constructing a reform to our financial framework that should help end the market abuse and risky speculations that continues to drive our global economy into debt. Following the G 20 summit President Obama meet with Chinese President Hu Jintao where both parties agreed that the mutual benefit of our economic relations are extremely important to the growth and progress of each nation. Russian President Dmitri Medvedev and President Obama meet signing a treaty to making strides on reducing the nuclear arsenals of our countries as well as making an effort to ride the loose nuclear material that is floating around the globe. Do you think that these strides that the G 20 summit are good enough for now or do you think they should be making more direct reforms instead of promising speculations on future reforms? Please comment and discuss. And for additional information check out Obama’s Weeky Video Podcasts link on the side of the blog page.
Tuesday, April 7, 2009
"Ethics refers to standards of behavior that tell us how human beings ought to act in the many situations in which they find themselves-as friends, parents, children, citizens, businesspeople, teachers, professionals, and so on."
We're in danger of entering a new Dark Age
By forgetting what made us who we are, we risk losing the hard-won gains of the Enlightenment, warns Liam Fox.
We're in danger of entering a new Dark Age
By forgetting what made us who we are, we risk losing the hard-won gains of the Enlightenment, warns Liam Fox.
Monday, April 6, 2009
The Ecomony Can't stop the Party at the Winter Music Conference
Winter Music Conference is the most important worldwide networking event in the dance/house music industry connecting people from all over the global. It has tons of international superstars in the dance music industry represented every year and it allows DJs from the amateur level all the way to the professional tycoons the ability to gain new knowledge through the many seminars, networking events, and parties. Every part of the dance industry is represented in this magnificent week from radio stations, video programmers, producers, and distributers to name a few. Also, it allows thousands of DJs to get the national exposure needed to launch them to superstardom. The annual winter music conference has been gone for almost a week allowing everyone to get back to their regular routine without the hangover of the pool party from the day before or the all night concerts on south beach. Though the Winter Music Conference might seem as just a week to party and let loose, it provides enough revenue for our world renowned nightlife to continue running well after the spring breakers have left the Miami area. The amount of revenue might have dropped off a little from prior years but the world exposure has not. Industry insiders say that there has not been a drop off in tourism having numerous hotels, including the Gansevoort South, the Doubletree Surfcomber and the Shelbourne were all sold out, with rates ranging from $299 to $900 a night. Proving even in a down economy people want to party and it is obvious that Winter Music Conference gives people the reason to spend money on mojitos for the annual weekly festivities. For any more information on the Winter Music Conference check out the links under Winter Music Conference on the side of this blog.
Sunday, March 8, 2009
stock market suffers
Stocks suffer their worst week since November
A late-day rally can't undo the damage from earlier in the week. Unemployment hits a 25-year high. Apple slumps on a downgrade. Wells Fargo slashes its dividend. Coca-Cola will invest in China.
[Related content: stocks, investments, stock market, financial crisis, economy]
By Charley Blaine and Elizabeth Strott
Despite a late-day rally on Friday, stocks suffered their worst weekly losses since November after a government report showed unemployment in February reaching the worst levels since 1983.
The Dow Jones industrials, down as much as 124 points at 3:20 p.m. ET, finished the day with a 33-point gain to 6,627. The Standard & Poor's 500 Index closed up 1 point to 683.
The Nasdaq Composite Index finished down 6 points to 1,294, mostly because of weakness in such key stocks as Apple (AAPL, news, msgs), Google (GOOG, news, msgs), Research In Motion (RIMM, news, msgs) and Amazon.com (AMZN, news, msgs).
Despite the rally, which appeared to be short-covering by speculators who had sold stocks short during the week, the Dow finished down 6.2% for the week, its worst loss since the week of Oct. 6, when it fell 18%. The S&P 500's 7% loss and the Nasdaq's 6.1% loss were their worst since the week of Nov. 17.
The selling extended the losses for the Dow and the broader S&P 500 to levels not seen since 1996. The Nasdaq finished at six-year lows.
The Dow and S&P 500 have now fallen more than 20% since Jan. 16, the day before President Barack Obama was sworn into office; the Nasdaq is off 15.4% The major averages are down more than 53% from their 2007 highs.
Stocks opened higher on Friday but quickly faded after the miserable February jobs report showed the economy is slumping badly since the recession began in December 2007.
The U.S. unemployment rate hit 8.1%, up from 7.6% in January and a 25-year high. At the same time, the Labor Department said employers shed 651,000 jobs in February, the 14th straight month of job declines.
Job losses since December 2007 now total an estimated 4.4 million.
A late-day rally can't undo the damage from earlier in the week. Unemployment hits a 25-year high. Apple slumps on a downgrade. Wells Fargo slashes its dividend. Coca-Cola will invest in China.
[Related content: stocks, investments, stock market, financial crisis, economy]
By Charley Blaine and Elizabeth Strott
Despite a late-day rally on Friday, stocks suffered their worst weekly losses since November after a government report showed unemployment in February reaching the worst levels since 1983.
The Dow Jones industrials, down as much as 124 points at 3:20 p.m. ET, finished the day with a 33-point gain to 6,627. The Standard & Poor's 500 Index closed up 1 point to 683.
The Nasdaq Composite Index finished down 6 points to 1,294, mostly because of weakness in such key stocks as Apple (AAPL, news, msgs), Google (GOOG, news, msgs), Research In Motion (RIMM, news, msgs) and Amazon.com (AMZN, news, msgs).
Despite the rally, which appeared to be short-covering by speculators who had sold stocks short during the week, the Dow finished down 6.2% for the week, its worst loss since the week of Oct. 6, when it fell 18%. The S&P 500's 7% loss and the Nasdaq's 6.1% loss were their worst since the week of Nov. 17.
The selling extended the losses for the Dow and the broader S&P 500 to levels not seen since 1996. The Nasdaq finished at six-year lows.
The Dow and S&P 500 have now fallen more than 20% since Jan. 16, the day before President Barack Obama was sworn into office; the Nasdaq is off 15.4% The major averages are down more than 53% from their 2007 highs.
Stocks opened higher on Friday but quickly faded after the miserable February jobs report showed the economy is slumping badly since the recession began in December 2007.
The U.S. unemployment rate hit 8.1%, up from 7.6% in January and a 25-year high. At the same time, the Labor Department said employers shed 651,000 jobs in February, the 14th straight month of job declines.
Job losses since December 2007 now total an estimated 4.4 million.
Tuesday, February 24, 2009
Week 4
Social entrepreneurs act as agents for our society seeking to generate social value rather than profits. They identify and solve social problems on a large scale.
"Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry." Bill Drayton, CEO, chair and founder of Ashoka
What's in the Green Stimulus Package for social entrepreneurs?
"Social entrepreneurs are not content just to give a fish or teach how to fish. They will not rest until they have revolutionized the fishing industry." Bill Drayton, CEO, chair and founder of Ashoka
What's in the Green Stimulus Package for social entrepreneurs?
Monday, February 23, 2009
U.S. wants to keep banks private in new rescue plan
February 23, 2009
Joint Statement by the Treasury, FDIC, OCC, OTS and the Federal Reserve
Washington, DC – The U.S. Department of the Treasury, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Reserve Board today issued the following joint statement:
"A strong, resilient financial system is necessary to facilitate a broad and sustainable economic recovery. The U.S. government stands firmly behind the banking system during this period of financial strain to ensure it will be able to perform its key function of providing credit to households and businesses. The government will ensure that banks have the capital and liquidity they need to provide the credit necessary to restore economic growth. Moreover, we reiterate our determination to preserve the viability of systemically important financial institutions so that they are able to meet their commitments.
"We announced on February 10, 2009, a Capital Assistance Program to ensure that our banking institutions are appropriately capitalized, with high-quality capital. Under this program, which will be initiated on February 25, the capital needs of the major U.S. banking institutions will be evaluated under a more challenging economic environment. Should that assessment indicate that an additional capital buffer is warranted, institutions will have an opportunity to turn first to private sources of capital. Otherwise, the temporary capital buffer will be made available from the government. This additional capital does not imply a new capital standard and it is not expected to be maintained on an ongoing basis. Instead, it is available to provide a cushion against larger than expected future losses, should they occur due to a more severe economic environment, and to support lending to creditworthy borrowers. Any government capital will be in the form of mandatory convertible preferred shares, which would be converted into common equity shares only as needed over time to keep banks in a well-capitalized position and can be retired under improved financial conditions before the conversion becomes mandatory. Previous capital injections under the Troubled Asset Relief Program will also be eligible to be exchanged for the mandatory convertible preferred shares. The conversion feature will enable institutions to maintain or enhance the quality of their capital.
"Currently, the major U.S. banking institutions have capital in excess of the amounts required to be considered well capitalized. This program is designed to ensure that these major banking institutions have sufficient capital to perform their critical role in our financial system on an ongoing basis and can support economic recovery, even under an economic environment that is more challenging than is currently anticipated. The customers and the providers of capital and funding can be assured that as a result of this program participating banks will be able to move forward to provide the credit necessary for the stabilization and recovery of the U.S. economy. Because our economy functions better when financial institutions are well managed in the private sector, the strong presumption of the Capital Assistance Program is that banks should remain in private hands."
Joint Statement by the Treasury, FDIC, OCC, OTS and the Federal Reserve
Washington, DC – The U.S. Department of the Treasury, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Reserve Board today issued the following joint statement:
"A strong, resilient financial system is necessary to facilitate a broad and sustainable economic recovery. The U.S. government stands firmly behind the banking system during this period of financial strain to ensure it will be able to perform its key function of providing credit to households and businesses. The government will ensure that banks have the capital and liquidity they need to provide the credit necessary to restore economic growth. Moreover, we reiterate our determination to preserve the viability of systemically important financial institutions so that they are able to meet their commitments.
"We announced on February 10, 2009, a Capital Assistance Program to ensure that our banking institutions are appropriately capitalized, with high-quality capital. Under this program, which will be initiated on February 25, the capital needs of the major U.S. banking institutions will be evaluated under a more challenging economic environment. Should that assessment indicate that an additional capital buffer is warranted, institutions will have an opportunity to turn first to private sources of capital. Otherwise, the temporary capital buffer will be made available from the government. This additional capital does not imply a new capital standard and it is not expected to be maintained on an ongoing basis. Instead, it is available to provide a cushion against larger than expected future losses, should they occur due to a more severe economic environment, and to support lending to creditworthy borrowers. Any government capital will be in the form of mandatory convertible preferred shares, which would be converted into common equity shares only as needed over time to keep banks in a well-capitalized position and can be retired under improved financial conditions before the conversion becomes mandatory. Previous capital injections under the Troubled Asset Relief Program will also be eligible to be exchanged for the mandatory convertible preferred shares. The conversion feature will enable institutions to maintain or enhance the quality of their capital.
"Currently, the major U.S. banking institutions have capital in excess of the amounts required to be considered well capitalized. This program is designed to ensure that these major banking institutions have sufficient capital to perform their critical role in our financial system on an ongoing basis and can support economic recovery, even under an economic environment that is more challenging than is currently anticipated. The customers and the providers of capital and funding can be assured that as a result of this program participating banks will be able to move forward to provide the credit necessary for the stabilization and recovery of the U.S. economy. Because our economy functions better when financial institutions are well managed in the private sector, the strong presumption of the Capital Assistance Program is that banks should remain in private hands."
Subscribe to:
Posts (Atom)
