The Bush Plan

http://money.cnn.com/2005/01/05/retirement/privatization_solvency/index.htm

Social Security is the issue of the day. Bush has devized a plan of action however many are skeptical of the benefits. Many people feel that the Bush plan may have some leverage,but in the long run it still does not solve anything.

Many who say Social Security is in crisis suggest overhauling the system by partially privatizing it, allowing workers to invest some of their Social Security taxes in personal investment accounts.
But even proponents of privatization acknowledge that personal accounts alone won't resolve Social Security's long-term solvency issues. Rather, changing the way initial benefits are calculated could. And that's a feature of key reform proposals that promote personal investment accounts.

Social Sucurity

http://money.cnn.com/2005/01/28/news/economy/dems_socialsecurity/index.htm

Members of the Senate Democratic Policy Committee Friday assembled an array of witnesses to air concerns over what is publicly known about the Bush plan to change the Social Security System by including individual investment in the stock market.

None of the republicans that were invited to the meeting showed up. Obviously the republican party is happy with the new plan Bush has in store. The democrats however are worried about involving Social security in the market especially since the market has been on the slow side in recent months. The Baby Boomer generation is worried that this will get that country into a even larger deficit.

Time Warner and Comcast are Looking for Assets

http://money.cnn.com/2005/01/28/news/fortune500/adelphia_twx/index.htm

Time Warner and Comcast are submitting a joint bid to purchase assets of cable television operator Adelphia Communications, according to a person with knowledge of the situation. Bids for Adelphia are due Monday.

Adelphia filed for bankruptcy in 2002, following the accounting scandal that led to conviction of the company's founder, John Rigas, for fraud. So why would warner and Comcast still want this company?? The company is still valued at $17 billion.

Fed. May Raise Interest Rates Once Again

http://money.cnn.com/2005/01/28/news/economy/fed_preview/index.htm

According to the Chicago Board of Trade's fed funds futures contract, traders believe there is a 100 percent chance the Federal Reserve will boost short-term rates another quarter percentage point, to 2.5 percent, on Wednesday. That would mark the sixth such increase since June of last year.

Economists are worried about inflation. Increasing inflation is partly a result of rising energy prices and the weak dollar. The fear is that a jump in inflation would slow down economic expansion. Economists say the primary reason for the weaker GDP growth was a drop in exports and a surge in imports.

New World Order

http://conspiracy.freewebspace.com/index.htm#new_world_order

The New World Order is a powerful & secret political movement aiming to place the world under a global totalitarian dictatorship called the New World Order or ONE WORLD GOVERNMENT. (This may sound like utopia but it is barely-concealed imperialism & dictatorship).

This sounds rather ludicrous, however mant say that the Euro is the first step to a globalized economy. Also the European Union will soon start drawing countries from the western hemesphere.

WTO: needs checks and balances??

http://www.globalexchange.org/campaigns/wto/index.html

The World Trade Organization is the most powerful legislative and judicial body in the world. By promoting the "free trade" agenda of multinational corporations above the interests of local communities, working families, and the environment, the WTO has systematically undermined democracy around the world.

Many feel that the WTO is undermining public health interests and ignoring animal protection. WTO rules can be enforced through sanctions. This gives the WTO more power than any other international body. The WTO's authority even goes beyond national governments.

In the eight years of its existence, WTO panels composed of corporate attorneys have ruled that: the US law protecting sea turtles was a barrier to "free trade"; that US clean air standards and laws protecting dolphins are too; that the European Union law banning hormone-treated beef is illegal. According to the WTO, our democratically elected public officials no longer have the rights to protect the environment and public health.

Economic Meltdown??

http://news.bbc.co.uk/1/hi/business/4209709.stm

The list of potential problems is worryingly long:
The US budget deficit is escalating to a record $427bn this year.
American consumers are on a buying spree for foreign goods, have more or less stopped saving and instead plunder the piggy bank by re-mortgaging their homes.
Everyday foreigners stump up $5bn to finance US spending.
Protectionism is growing as trade imbalances make free trade deals more difficult to sell to suspicious voters.
And there is still a worldwide risk of deflation, or steadily falling prices, which would discourage investment and push large parts of the global economy into a deep freeze.

Economic experts are saying that the economy is holding on but the line may soon break. Should the U.S. start prparing for an economic meltdown?? No, however if things are not drastically changed some time in the near future experts say, India and China will be taking control of the market...and that is something the U.S. is not too willing to give up.

It Keeps Growing and Growing and....

http://money.cnn.com/2005/01/28/news/fortune500/pg_gillette/index.htm

- Procter & Gamble announced the largest acquisition in its history Friday, agreeing to buy Gillette in a $57 billion deal that combines some of the world's top brands and could lead to further mergers involving products consumers know and love.

Procter and Gamble is growing dramatically, forming the one the hugest companies in the world. This deal gives one company even more "shelf-space" control in retail and grocery stores. This giant comapny is putting preasure on smaller rivals many of whom now may be overlooked.

Procter & Gamble (Research) is already the nation's largest consumer products company, making everything from Pampers to Tide, from Crest toothpaste to Head & Shoulders shampoo. Products from Gillette (Research) include not only its signature razors but also Duracell batteries and Braun and Oral-B brands dental care products.

European Stock is Rising

http://money.cnn.com/2005/01/27/news/international/markets_europe.reut/index.htm

PARIS (Reuters) - Pleasing updates from Nokia and AstraZeneca lifted European shares to fresh 2-1/2 year highs on Thursday, with economic reports in the United States and Germany also helping to bolster sentiment.

European stocks are on the rise while American is still struggling.

Lobbyists are Cashing In

http://money.cnn.com/2005/01/25/pf/sixfigs_ten/index.htm

NEW YORK (CNN/Money) - There won't just be a lot of arguing among lawmakers over Social Security reform in the coming months.
There will be a lot of lobbying - and a lot of money spent on lobbying -- to influence those lawmakers' arguments.

Millions of dollars will be spent on lobbyists in order to get lawmakers to change Social Security. And its all in the name. A good lobbyist will always have a "good" name to back them up.

Whatever the number, there's no question pushing for or against legislation in Washington is big business. And lobbyists stand to make a very good living taking part in the wars of persuasion.
A survey conducted by the American League of Lobbyists (ALL) in 1998 – the latest information the ALL has -- found that 65 percent of respondents, who mostly held senior-level positions, made over $100,000.

Economy is Struggling

http://money.cnn.com/2005/01/27/markets/markets_newyork/index.htm

NEW YORK (CNN/Money) - Blue chips slipped and the broader market was flat in choppy trading Thursday as investors struggled to digest mixed earnings news after a two-session rally.

The economy is still struggling and the Blue chips are feeling it. However there is still a light at the end of the tunnel.

The December read on durable goods orders showed a rise of 0.6 percent, just shy of estimates, due to a decline in demand for new aircraft. Orders climbed an upwardly revised 1.8 percent in November.

Signs of a Degrading Society

http://money.cnn.com/2005/01/27/news/newsmakers/stern_ratings/index.htm

NEW YORK (CNN/Money) - A year ago, Pittsburgh radio station WXDX-FM was near the top of its game on weekday mornings. Today it's fighting hard for listeners.
What changed? Two words: Howard Stern.

Howard Stern was pulled off the air because of his ever so "spirited" language. The network was facing heavy fines, however now the fines are starting to look good. WXDX-FM is losing listeners, people seemed so like Howard Sterns "expressive" language and without him the radio station is losing many of its listeners.

Milk Man to Chief Executive

http://money.cnn.com/2005/01/26/news/newsmakers/worldcom_ebbers.reut/index.htm

NEW YORK (Reuters) - A jury on Wednesday heard a tape in which former WorldCom Inc. Chief Executive Bernard Ebbers dodged a stock analyst's question by explaining he had studied sports in college and could not speak to economics "with any credibility."
Lawyers for Ebbers, painting him as an entrepreneur with little knowledge of accounting, played the tape for jurors at a criminal trial where he faces charges he orchestrated an $11 billion accounting fraud that eventually drove WorldCom into the largest bankruptcy filing in U.S. history. In the first two days of the trial, Weingarten has taken pains to portray Ebbers as a man who despises wearing a tie, and worked as a milkman, bouncer and basketball coach before building WorldCom into a telecommunications powerhouse.

How did Ebbers become the Chief Executive in the first place, having only studied sports??? Ebbers is trying to say that he ran the company like a puppet that he just reported what he was told. However even a puppet would realize when it is cheating people out of billions of dollars. He may have only been taught sports but he certianly has a nuture talent for cheating investors, at his own profit. Somehow Idoubt he missed-counted the sums of money coming his way.

Microsoft is Center Stage

http://money.cnn.com/2005/01/27/technology/msft_analysis/index.htm

NEW YORK (CNN/Money) - Microsoft reported better-than-expected sales and earnings for the latest quarter Thursday and for once, Wall Street sat up and took notice.

Investors are taking notice of Microsoft. Sales from Microsoft's client unit, which includes the Windows operating system, rose 5.3 percent to $3.2 billion. This number would get any profit-seeking investor interested.

The Name Tag Counts

http://money.cnn.com/2004/11/24/commentary/everyday/sahadi/index.htm

A typical senior investment banker making $200,000 in salary might get a $700,000 to $750,000 bonus this year. A senior bond trader with the same salary might get $1.4 million. A bank teller making $30,000, meanwhile, might pocket a whopping $2,200.

Looking for a career? Well you might as well consider banking....however make sure you strive for the upper positions considering their bonuses seem slightly higher.... the name tag really does make a difference.... the ones with Senior Investment Banker written on it tend to be the prettier ones.

One Big Dinosaur

http://money.cnn.com/2005/01/20/news/fortune500/federated_may/index.htm

"What do you get when you take two big retail dinosaurs and morph them together? One really big dinosaur.
A published report Thursday speculated that Federated Department Stores, owner of Macy's and Bloomingdales, has its eye on acquiring rival May Department Stores, which operates both high-end Lord & Taylor stores and more mid-priced chains such as Foley's, Filene's, and Hecht's."

The business rationale of such a merger is obvious. Department stores are struggling to grow sales in a retail world dominated by Wal-Mart and the mall-based specialty stores, but will this merger benefit the consumer??? Some say it will be great for consumers, while others say it will do nothing. Alliviating the commpetition may allow the company to lower prices. Otherwise the merger is not much of a change; the department store all carried mostly the same products, thus the consumer will not experience much change on that front.

Apple May Have Some Competition

http://money.cnn.com/2005/01/20/technology/techinvestor/lamonica/index.htm

Creative Technology, the Singapore-based maker of the Zen and MuVo brands of music players, has emerged as a strong number two.

Apple is certianly the leader in digital music market, however a new maker is consistantly making its way up. Creative Technology may be competition Apple can look forward to. Creative sold 2 million MP3 players in its fiscal second quarter. The company has had a 50 percent year-over-year increase in total revenues! What's more, Creative said it expects revenues to increase another 50 percent in its fiscal third quarter. Should Apple start getting nervous?? No, not yet.....however its future is certianly not as sound as it used to be.

Vacuum Cleaners at Best Buy????

http://money.cnn.com/2005/01/19/news/fortune500/maytag.reut/index.htm

Maytag Corp. said Wednesday it will stop selling Maytag-branded major appliances at Best Buy Co. Inc. stores, citing declining sales of its appliances at the electronics chain.

Most people don't go to Best Buy to buy a vacuum cleaner. The declining sales may be due to the image Best Buy has acquired. Electronics, CD's, and DVD's are the first things that come to mind when one thinks of Best Buy. Best Buy major appliance sales accounted for about 1 percent of Maytag's revenue in 2004, the company said. Leaving Best Buy may be a good idea on Maytags part.

Innovative New Hotel Services

http://money.cnn.com/2005/01/18/pf/hotelservices/index.htm

Consider, for example, the tanning butler. His mission is to wander about the pool deck during peak weekend tanning hours at the oceanfront Ritz-Carlton South Beach, armed with oils.
"He offers complimentary sunscreen and, better yet, offers to apply it to hard-to-reach areas," says Ritz spokeswoman Michelle Payer.

In a time of heated competition for guests, hotels are going all-out to offer services that would be unique, thus to their benefit. Many are no longer looking just for a place to stay, but searching for complete pampering. The trend is catching on there is now everything from a cheese concierge to help you pick from a tray arrayed with more than up to 20 artisanal cheeses daily, to "bow-wow butlers," that take care of your pets. For the consumer its an amusing plus, however it does seem to dig deeply into the wallet.

eBay's On a Rough Course

http://money.cnn.com/2005/01/20/markets/markets_newyork/index.htm

"The Nasdaq slumped Thursday morning, after eBay's weak results and forecast sparked a selloff. But the broader market cut its losses, attempting to stabilize after a weaker open."

eBay is counting its losses. Stocks are slumping and the forcast still portrays a mixture of disappointment. It seems the consumer is not so willing to spend after the busy holiday season. eBay (down $20.78 to $82.27)

Social Security Myths

http://moneycentral.msn.com/content/specials/P107171.asp?special=0501social

With the election over, Social Security s a major issue on the political and economic front. There are mnay forums, articles and books written on the subjuct. However not everything we read tells the whole truth. We have got to toss aside the gossip and focus on the realities.

The Basics 5 myths about Social Security:

1: There is no Social Security trust fund.
2: Congress doesn't pay into Social Security, so it doesn't care about fixing the crisis.
3: Age 65 was picked as the retirement age because when Social Security was started in the1930s, most people were dead by then.
4: Social Security will run out of money in 2042.
5: Social Security wouldn't be having problems if foreigners weren't able to claim Social Security benefits.

Time is Money

http://money.cnn.com/2004/07/08/commentary/everyday/sahadi/index.htm

Time is money and now there is proof. Who knew that this adage would soon become an economic theory.....but what is next??....don't put all your eggs in one basket...? Yes that works too....

The value of your time = [Wage(100-Tax rate)]/Cost of living.

Ian Walker of the University of Warwick in England came up with a formula a few years ago to help assess the monetary value of your time. He takes into account your gross hourly wage, your marginal tax rate (the top tax rate you pay), and the cost-of-living in your area.
The formula is based on the assumption that what you make is an indication of how you value an hour of your time because that's what you're willing to sell it for to an employer. Theoretically (although not practically), you could always be working and earning money instead of cooking, mowing the lawn, doing the laundry, etc.

The weakening Dollar

http://www.msnbc.msn.com/id/6862798/

The dollar has lost about a third of its value against major currencies over the last three years, and the consensus view on Wall Street is for the currency to weaken further in 2005 as the U.S. deficit continues to grow.

The dollar has lost about 35 percent of its value against the euro and 25 percent against the Japanese yen over the past three years. The cheaper dollar, however is helping U.S. exports, but, while its doing that the tension rises between the United States and its trading partners in Europe and Asia.