| Stock Market Update - Mon Apr 09 16:20:01 EDT 2007
[BRIEFING.COM] Stocks kicked off a new week with a customary sense of caution heading into earnings season and some uncertainty as to what a strong jobs report means for the economy and interest rate outlook. With investors unable to trade on monthly employment data Friday, a market preoccupied with concerns about a significant slowdown in economic growth initially found some comfort after March payrolls rose a stronger than expected 180,000. An upward revision to February's figure and the unemployment rate unexpectedly falling to 4.4% provided further evidence that the economy remains in good shape, notwithstanding the downturn in the housing and manufacturing sectors, and that consumer spending should continue to grow at close to the recent trend of 3% real growth. Be that as it may, a tight labor market accompanied by rising wage costs leaves a Fed still fixated on the "high level of resource utilization" with little reason to cut interest rates anytime soon.
Debate rages over Brown’s ‘creative accounting’
AS HE seeks to spruce up his image so he can move next doorasprimeminister, Gordon Brown wanted to use his 11th Budget as chancellor to conjure up the "feelgood factor". As he advanced to the dispatch box in the House of Commons last Wednesday afternoon, the 55-year-old Fifer may have thought that the skilful positioning ofanumberof"giveaways"-each tailored to please specific constituencies includingtheunions,business,the green lobby, backbench Labour MPs etc - would be enough to propel him into Number 10, and keep him there after the next general election. Dressing up a fiscally neutral Budget as though it were one of the most transformational budgets of modern times was always going to be a tough call for Brown. Initially, it seemed like he might pull this off.
US Auto Parts 4Q Results: Un Disastro
US Auto Parts (PRTS), stock is down some 40%+ this week (and down a pretty similar amount from its initial public offering price of $10 completed in early February). "Un disastro" is an Italian word/expression a friend once taught me that needed no translation. And probably best sums up the conference call the company held Tuesday afternoon. Management had to come on the call and explain to its new shareholders that after they got back from the road show and began to "close the books" they discovered a couple employees at their Parts Bin acquisition had mispriced (way below market price), the company's performance and accessories parts. The mispricing hurt profit margins and "fill rates." In some cases, the company had sold a part to a customer, but could not actually "fill the order" (with management indicating on the call that they experienced 10% lower fill rate at two of their vendors) and had to credit back the customer.
Business studies: should we hire or fire The Apprentice?
He is calm, thoughtful and self-effacing. Quite the opposite of the irascible, overbearing Sir Alan Sugar. So the news that Tim Campbell, the first winner of The Apprentice, is leaving his boss to start his own male grooming business is an encouraging success in the unreal world of reality television shows. That Campbell will also launch the Bright Ideas Trust to give away at least £1m a year to budding entrepreneurs is also a feel-good story in advance of the new series of the BBC show, which pits 16 hopefuls against one another for the prize of a £100,000 salary to work for the belligerent tycoon for a year. It may dilute some of the negative publicity following the parting of ways between Sir Alan and last year's winner, Michelle Dewberry, but the big question remains: does the show reflect or require the qualities needed for success in the real world? .
SmallCapReview.com Names Nexia Holdings as a New Focus Stock
SmallCapReview.com, a leading small-cap stock information site, is pleased to announce that Nexia Holdings (OTCBB: NEXA) has been named as a "New Focus Stock". (PRWEB) April 10, 2007 -- SmallCapReview.com, a leading small-cap stock information site, is pleased to announce that Nexia Holdings has been named as a "New Focus Stock". Nexia Holdings headquartered in Salt Lake City, Utah, is a diversified holdings company with operations in real estate, health & beauty, and fashion retail. Over the past five years the company has sharpened its focus to three areas of development: Health & Beauty - Nexia has invested in top flight proven health & beauty concepts. This, coupled with exceptional management and staff, has allowed the Landis Lifestyle Salon to generate substantial revenues from inception.
Don’t Rollover that 401(k) Just Yet!
While it is generally good advice to roll-over qualified employer retirement plan assets to an IRA, that may not be good advise for anyone whose 401(k) plan contains employer stock with "net unrealized appreciation (NUA)." NUA is the difference between the stock's current market value and average cost of the stock in the plan. If this stock is transferred from an employer-sponsored plan to an IRA, the transfer is tax free, but any subsequent distributions from the IRA are taxable as ordinary income. If, on the other hand, a transfer is made to a regular brokerage account, only the cost basis of the stock is immediately subject to income taxation. The remaining value, or NUA, is subject to long-term capital gains treatment. For example, let's say Peter is 55 and taking early retirement from his company.
Dubai Financial acquires 35 per cent stake in Onich
MUSCAT — Dubai Financial LLC, the investment arm of Dubai Holding, one of the leading financial conglomerates in the world, yesterday acquired a 35 per cent stake in Onic Holding (Onich) from Shuaa Capital, one of the leading investment banking institutions in the Middle East.
“Dubai Financial bought 4.235 million shares of Onic Holding at a price of RO7.8 per share aggregating to RO33.033 million. The investment by Dubai Financial into Onich is a vote of confidence in the leading financial and insurance company in Oman. Dubai Financial will be able to build synergies with Onich through its vast portfolio of regional and international investments in the financial sector," sources revealed.
“Our goal is to further develop and transform Onic Holding into a world-class holding corporation with a well diversified investment portfolio.
UBS: Australian Telecom Dialogue - Broadband politics
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