week

menafn.com…

(MENAFN) Greece’s Vima Weekly News reported that two of the country’s top lenders are planning to announce a merger this week that would give a vital confidence boost to the debt-hit country’s …

Link:
Top Greek banks merger to boost banking system

Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

{ 0 comments }

menafn.com…

(MENAFN – ecPulse) It will be a busy and volatile end for the week today dear reader with the anticipation coming to an end with the central bankers’ symposium at Jackson Hole later today. Before we …

Link:
Growth figures from UK and the US with focus still on Jackson Hole

Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

{ 0 comments }

Week Ahead: Spotlight on Bernanke in Jackson Hole

August 19, 2011

It’s a relatively light calendar for economic data next week, perhaps offering a breather to harried investors. A deluge of bad economic news this week sent stock markets on a roller coaster, soaring up and down (mostly down) as traders tried to gauge the impact of another possible recession. A lot of attention will be focused on a speech scheduled for Friday by Federal Reserve Chairman Ben Bernanke at an annual conference in Jackson Hole, Wyo., hosted by the Kansas City Fed. It’s anyone’s guess what, if anything, new Bernanke has to say about the direction of the U.S. economy and the Fed ’s ability to impact that direction. On Aug. 9, the Fed said it plans to keep interest rates at extraordinarily low levels at least until mid-2013. It’s also unclear, given the current political climate as well as widespread skepticism over the success of earlier Fed measures, what other options the Fed has at its disposal. Before Bernanke’s speech investors can digest data on new home sales due Tuesday. The numbers are expected to be weak, as the housing market has remained consistently sluggish since the real estate bubble burst in 2008. A report on durable goods is due Wednesday. Analysts believe the July report will show some improvement over dreadful June numbers. The data is viewed as a good gauge of business investment. A second reading on second-quarter GDP, scheduled for release Friday, is expected to put numbers to the strong belief that the economy is slowing. Economists this week lined up to issue reports slashing growth expectations for the rest of the year. The Richmond Federal Reserve manufacturing survey is due Tuesday and the Kansas City Federal Reserve’s survey will be released on Thursday. There’s little reason to believe either will be markedly better than a similar regional manufacturing report issued this week by the Philadelphia Fed, which was awful. The final reading of the Reuters/University of Michigan Consumer Sentiment Index is due on Friday. Consumer confidence has melted in recent months as unemployment has remained high and the value of homes continues to plummet. Data on mass layoff activity for July is due Tuesday, while initial jobless claims for the week ended August 20 are due Thursday.

Read the full article →

Bascom Partnership Buys 840 Units for $32M

June 17, 2011

DENVER- The Bascom Group of Irvine, CA and the Carlyle Group have acquired a portfolio of two properties totaling 840 units in the Denver Metro region in this week’s roundup of commercial real estate news in the West. The portfolio consists of Fairways at Lowry, a 450-unit complex in Aurora, CO acquired for $16.65 million and the 390-unit Village at Coronado in Thornton, CO acquired for $15 …

Read the full article →

Robin Hood Finance Blog – UK Commercial Property Debt

June 4, 2011

UK Commercial Property Debt . Friday, May 20, 2011, 12:15 PM Posted by Richard Senior. 'Banks in race to shed commercial property debt ' is the headline in the FT this week. There is apparently £224bn of commercial property debt …

Read the full article →

Plaza Del Amo Refis Retail Center for $10M …

June 4, 2011

TORRANCE, CA-Plaza Del Amo LLC has refinanced its 99584-square-foot Albertsons grocery-anchored shopping center via a $9.6 million loan arranged by Q10 Dwyer-Curlett in this week's roundup of commercial real estate news in the West. …

Read the full article →

Plaza Del Amo Refis Retail Center for $10M …

June 4, 2011

TORRANCE, CA-Plaza Del Amo LLC has refinanced its 99584-square-foot Albertsons grocery-anchored shopping center via a $9.6 million loan arranged by Q10 Dwyer-Curlett in this week's roundup of commercial real estate news in the West. …

Read the full article →

Supply Chain Review | Plaza Del Amo Refis Retail Center for M …

June 3, 2011

Plaza Del Amo LLC has refinanced its 99584-square-foot Albertsons grocery-anchored shopping center via a $9.6 million loan arranged by Q10 Dwyer-Curlett in this week's roundup of commercial real estate news in the West. …

Read the full article →

Supply Chain Review | Plaza Del Amo Refis Retail Center for M …

June 3, 2011

Plaza Del Amo LLC has refinanced its 99584-square-foot Albertsons grocery-anchored shopping center via a $9.6 million loan arranged by Q10 Dwyer-Curlett in this week's roundup of commercial real estate news in the West. …

Read the full article →

Supply Chain Review | Plaza Del Amo Refis Retail Center for M …

June 3, 2011

Plaza Del Amo LLC has refinanced its 99584-square-foot Albertsons grocery-anchored shopping center via a $9.6 million loan arranged by Q10 Dwyer-Curlett in this week's roundup of commercial real estate news in the West. …

Read the full article →

Krugman: ‘Strong Chance’ U.S. Economy Will Worsen

June 3, 2011

Earlier this week, the Federal Reserve Bank of New York published a blog post about the “mistake of 1937,” the premature fiscal and monetary pullback that aborted an ongoing economic recovery and prolonged the Great Depression. As Gauti Eggertsson, the post’s author (with whom I have done research) points out, economic conditions today — with output growing, some prices rising, but unemployment still very high — bear a strong resemblance to those in 1936-37. So are modern policy makers going to make the same mistake?

Read the full article →

A shockingly gloomy week for the superpower…

June 3, 2011

A shockingly gloomy week for the superpower…

Read the full article →

Volatility to Start the Week is Uneven and Potentially a False Signal

June 1, 2011

Volatility to Start the Week is Uneven and Potentially a False Signal

Read the full article →

Dollar Gets Reprieve- Volatility to Pick up this Week

May 30, 2011

Dollar Gets Reprieve- Volatility to Pick up this Week

Read the full article →

Video: Tyrangiel Says USPS Using `Junk Mail’ to Boost Revenue

May 27, 2011

May 27 (Bloomberg) — Bloomberg Businessweek editor Josh Tyrangiel talks about the magazine’s cover story this week on the outlook for the U.S. Postal Service. Tyrangiel speaks with Matt Miller on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)

Read the full article →

Dollar slips by the end of the week

May 27, 2011

Dollar slips by the end of the week

Read the full article →

European shares close the week in green…

May 27, 2011

European shares close the week in green…

Read the full article →

Greenback Closes Lower on the Week as Data Weighs

May 27, 2011

Greenback Closes Lower on the Week as Data Weighs

Read the full article →

Tom Alderman: Memo to Doctors: We’re Not Just Patients, We Are Your Customers!

May 25, 2011

A friend recently called a doctor to make an appointment for an epidural shot for his sciatic back pain. He was given a date and told to arrive two and a half hours ahead of the appointed time. When the perplexed friend asked why so long a wait, the answer was simply, “That’s the way we schedule here — in case the doctor finishes earlier with some of his patients. ” “…in case he finishes earlier? All his patients would have to die for him to finish that early,” the friend lamented. Incredible as it seems, this doctor has a built-in, two-and-a-half-hour wait for all his patients. This is clearly a guy from the old school, the old being the ‘Doctor-as-God school.’ However, in our modern, Byzantine health care system, doctors are re-cast as ‘practitioners’ so why shouldn’t we patients be re-branded and treated as ‘customers’? This could be a generational concept. If you ask 88-year-old retired Syracuse, N.Y. cardiologist Murray Grossman if he ever thought of his patients as customers, you’ll get a decisive ” No.” Same response from retired 71-year-old Los Angeles rheumatologist, Michael Lutsky. “Absolutely not. It was frowned upon in our training to consider patients as customers. ” The business of medicine, how to run an office, how to market yourself and the notion of customer-based thinking was, and is still not, a part of medical school curriculum. “It should be,” says 56-year-old Mark Schlesinger, M.D., a board certified anesthesiologist with a practice in Burbank, Calif., “Patients ARE customers, of course!” Schlesinger is a pain doc, “not just another shot-jockey, ” he’s quick to add. When he first started out in medicine, he ran what’s called a ‘block shop’ in a hospital. That’s one of two disparaging terms to describe pain doctors. Block shops are guys who will stick a needle into anything whether it’ll help, or not. Pill mills are doctors who write a prescription for anything if you have enough money. It took a bit, but he eventually came around to the concept of customer-based medicine. The Schlesinger Pain Centers — note the plural — offers more than just epidural shots. According to the very slick, four-color promotional cards in his office, Schlesinger offers customers a complete line of services for sale including Medical Management, Full Service Office Injections, Pain Pumps and Stimulators, TENS Therapy, Pain Support Groups, Traction/Inversion Therapy, Massage Therapy, Yoga Therapy and Psychological care. To ease his customers into all this, the doctor runs I Love Lucy episodes on the flat-screen TV in his waiting room. Music plays during procedures as he works in a faux tiger-skin apron. Oh, and when you leave, you can take home your very own Schlesinger Centers T-Shirt (sm, med, or lg,) imprinted on the front with a caricature of a happy customer, doing a hand-stand saying, “I SURVIVED MY NERVE BLOCK while the back of the shirt proudly proclaims, “IT’S ALL GOOD” — complete with website and phone number. “If you go back to the years before lots of insurance, doctors did think of their patients as customers. They knew their patients as people, they had a pretty good idea about their patients’ economic situation so they could charge a fair price,” Schlesinger says. But this is now, and it seems the doctor-patient relationship has morphed into a something akin to speed dating. “We deliver care in ALL its forms,” Mark Schlesinger explains. Sure, care is having effective diagnostic and treatment skills. “…care is also seeing patients as people, and not just as colons, gall bladders or heart valves. Most doctors won’t call their patients customers because they think it’s demeaning. But I don’t think so. I don’t think that salesmanship is demeaning.” So if this patient-as-customer concept isn’t dealt with in medical schools, what was the spark for this doctor? Schlesinger smiles a bit and remembers, as a 14-year-old in Newark, N.J, watching the way his father, a butcher, treated people. “The core of the business isn’t what you’re going to sell Mrs. Murphy today, it was what you were going to sell her next week, and the week after that, and the week after that. He took a personal interest in Mrs. Murphy because she was his valued customer.” Oh yeah.

Read the full article →

Dove Ad Casts Spotlight On Madison Avenue Racism

May 25, 2011

When people ask Eugene Morris why he left a virtually all-white advertising firm in the early 1970s for an African-American one, he tells them about the time he asked a white higher-up for an overdue raise. “He started telling me about how well-dressed I was,” Morris recalled. “He told me that I had a nice sports car, which I did, and he told me that he knew that I had a very nice apartment. He started naming all these things, these possessions of mine, and he said, ‘Aren’t you making enough money?’ I thought the next thing he was going to say was, ‘Well what more would a ‘mmmm’ want?’” Incidents like these added up, Morris said, and after a while he decided he’d had enough, as did many other young black executives who left the advertising world after an initial surge of racially progressive hiring in the late ’60s and early ’70s. Morris cited this incident recently to illustrate one of the reasons why the racial make-up of the mainstream advertising business still looks much as it did in the early ’70s, which is to say, predominantly white. “When I first came into the business, if I had projected forty years into the future,” said Marshall, “I never would have described the current situation, where African-Americans are still in the single digits in all these agencies.” For all too obvious reasons, the dearth of black executives in advertising doesn’t normally receive much attention from the mainstream media, but a controversial Dove body wash ad cast the issue into the spotlight this week. Supposedly an attempt to present Dove as a company that values cultural diversity, many believe that the ad fell astoundingly short. It shows a black woman, a white woman, and an olive-skinned woman, possibly Latina, standing side by side — a tableau of racial harmony. What’s offensive is what’s behind them: a pair of skin close-ups with “before” and “after” titles positioned so that it looks like they’re referring to the black and white woman, respectively. As Copyranter, the blog that caused an stir on the Internet earlier this week by posting the ad, noted, it’s as though the ad is pitching a product that ” turns Black Women into Latino Women into White Women .” The blog Styleite reached a similar conclusion, writing, “Visually, it communicates that if you have dark skin before you use VisibleCare, you’ll have pale skin afterward .” Noting another salient difference between the black model and white one, Styleite added, “You’ll also be thinner.” In a press statement, Unilever, the company that makes Dove products, said that all three women were “intended to demonstrate the ‘after’ product benefit” and added, “We do not condone any activity or imagery that intentionally insults any audience.” What’s most significant about the ad — and most embarrassing to Unilever — is that no one at the company seems to have anticipated that people would find it offensive. And that speaks to a larger issue, one that the activist and former magazine editor Michaela Angela Davis framed like this: “When it comes to advertising, it’s not enough to just have a black woman in the room. She has to be in the boardroom — she can’t just be in the changing room.” The lack of black women, and men, in Madison Avenue’s boardrooms is a problem that the attorney Cyrus Mehri hopes to publicize. Two years ago, his firm, Mehri and Skalet, partnered with the NAACP to create the Madison Avenue Project , an initiative aimed at increasing the ranks of blacks and Latinos in advertising. A report released by the group in 2009 showed that black college graduates working in the business earn 80 cents for every dollar earned by whites with the same qualifications. Based on a survey of the various pools from which advertising firms traditionally draw talent, the study’s authors also concluded that the industry had under-hired blacks by an order of 7,200 jobs. Responding to the Dove ad, Mehri said, “I don’t see how an African-American woman would not be offended by this ad, and I think it’s indicative of an industry that still resembles the ‘Mad Men’ you see on TV. They have not evolved or progressed from the 1960s.” Last year, the Madison Avenue Project commissioned an analysis of the ads shown during the 2010 Super Bowl. Of the 76 creative directors responsible for selling beer, cars and other products to the game’s 106 million viewers, 70 were white men and five were white women. The only non-white creative director, Joelle De Jesus, whose “House Rules” commercial for Doritos was one of the few ads to show a non-white character, was actually an amateur who’d scored the spot by winning a contest. As it happens, Unilever was one of the advertisers in that line-up; a commercial called ” Manthem ,” which hawked Dove’s product line for men, culminated with a shot of the white male protagonist dancing on the shoulders of a black man. Asked why advertising firms don’t hire more blacks, Mehri said, “They don’t believe that blacks can market to the mainstream.” Morris, who is now the head of E. Morris Communications, an agency that specializes in advertising to black customers and, incidentally, has lost business recently as companies looking to cut corners reassign their black-oriented campaigns to the general-market firms that handle their other accounts, said, “I would say that it would make more sense, when you think about it, that African Americans would be better at creating general assignment advertising for whites than whites would be at creating advertising for blacks. There’s no way I can survive in this world if I don’t understand white people, whereas white people can basically survive without ever having a meaningful interaction with a black person.” Both “Manthem” and the Dove body wash ad that offended so many people this week were produced by the advertising and public relations giant Ogilvy & Mather. When it comes to hiring non-white executives, Ogilvy’s record is “very, very poor,” said Mehri. “They have very few, if any, minority creative directors.” Ogilvy did not respond to a request for comment. WPP, the holding company that owns Ogilvy, referred an additional request back to Ogilvy. One of the ironies of the Dove body wash ad is that Unilever has gone out of its way in recent years to lure in customers with the message that, to quote from its recent press release, “real beauty comes in many shapes, sizes, colors and ages.” In 2004, the company launched what it called the Dove Campaign for Real Beauty, a parade of ads that featured “normal-looking” women of varying shape and size and ethnicity (all of them beautiful). Gwen Sharp, a sociologist who co-writes the blog Sociological Images , said, “It always shocks me when you have companies that I know spend enormous amount of money on their ad or their focus groups, and in the best case don’t catch, and in the worst case don’t care, about the cultural undertones that their ads play into.” She pointed out that Unilever also makes Fair & Lovely, a skin cream marketed to women in India that, if its advertising is to be believed , can actually make you white.

Read the full article →

PNC to Build New $400M Pittsburgh Headquarters

May 24, 2011

The PNC Financial Services Group, Inc. announced this week that it plans to construct a 40-story headquarters building dubbed The Tower at PNC Plaza on the southeast corner of Fifth Avenue and Wood Street in Pittsburgh, PA. Once complete in 2015, the 800,000-square-foot, $400 million building at the same intersection where PNC has been headquartered for more than 150 years will serve as the company’s executive offices. Tentative plans call for…

Read the full article →

Rising Dollar Could Mean Trouble For Stocks

May 23, 2011

NEW YORK (Walter Brandimarte) – Signs of a Wall Street sell-off are all over the place, but U.S. stocks might well survive another week relatively unscathed if investors keep betting on sectors less vulnerable to an economic downturn. Pressure for a correction in the stock market has been building up in the past few weeks as the euro and oil prices fell in tandem, knocking down shares of energy companies and dollar-sensitive multinationals. Still, investors have averted a broad sell-off by diving into shares of companies that are less vulnerable to the economic cycle, including well-known defensive sectors such as utilities and household products, but also large-cap companies with steady earnings performance. That strategy may hold the market afloat for a little longer. But with the end of the Federal Reserve’s easy money policies just around the corner, investors are becoming more sensitive to risk in general. “There is good reason for a pause, there is good reason to be conservative in here, and there is good reason to raise some cash ahead of a summer correction and a better buying opportunity,” said Richard Ross, global technical strategist with Auerbach Grayson in New York. The sharp sell-off in commodities markets earlier this month was seen by many as the first warning sign of a coming market correction. The U.S. dollar has been strengthening since then, in another sign that appetite for risk is dwindling. Next month’s end of the Fed’s massive bond-buying program, also known as quantitative easing, is expected to knock down the value of stocks, commodities and the euro, a recent Reuters poll of 64 analysts and fund managers found. CONSUMER STAPLES BACK IN STYLE Ross, who believes that a correction could come at any moment, warned that Wall Street remains close to multi-year highs as investors head into a traditional period of weak seasonality that stretches from May to November. The Standard & Poor’s 500 index .SPX has kept its year-to-date gain of 6 percent for the past two weeks, as defensive sectors such as utilities advanced while more volatile technology shares posted losses. Despite the rotation between sectors, the S&P 500 has been trading in a narrow range between 1,330 and 1,340, indicating Wall Street’s lack of direction. Most technical analysts agree that the market is poised to break out of that range soon — either with a sell-off or a rally. Robert Sluymer, an analyst with RBC Capital Markets, said there is no technical evidence that the current market cycle has peaked. He recommended investors keep building exposure to defensive themes, while getting out of cyclical stocks. Among the defensive sectors favored in the current environment, Standard & Poor’s Equity Strategy recommended the stocks in the S&P 500 Consumer Staples Index . For the week, this index was up 0.6 percent. With the earnings season coming to a close, Wall Street will have just a sprinkling of marquee names set to release quarterly results in the coming week. On tap are earnings from Campbell Soup, Costco Wholesale Corp and HJ Heinz Co, whose stocks are in the S&P 500 Consumer Staples Index. Preppies, take note: Polo Ralph Lauren Corp and Tiffany & Co are also set to release their results. These companies’ outlooks could shed light on the consumer’s mindset and headwinds facing the retail sector. As far as economic indicators are concerned, there’s no data with overwhelming star power. The calendar includes new home sales for April, a second look at first-quarter gross domestic product, personal income and consumption for April and the final reading for May on consumer sentiment from the Thomson Reuters/University of Michigan Surveys of Consumers. So investors could very well be at the mercy of the headlines from Europe, where fears about a possible debt restructuring by Greece are on the rise. With the euro, commodities and stocks trading with extraordinary correlation, investors should look at the euro-dollar trade for direction, said Ross of Auerbach Grayson. “If you continue to see the dollar strengthening,” he said, “it should provide a headwind for commodities and for the S&P.” (Editing by Jan Paschal) Copyright 2011 Thomson Reuters. Click for Restrictions .

Read the full article →

Japanese inflation data the main focus this week in the Pacific amid the lack of fundamentals

May 22, 2011

Japanese inflation data the main focus this week in the Pacific amid the lack of fundamentals

Read the full article →

Video: Jacob Says LinkedIn’s Share Price `Difficult to Justify’

May 20, 2011

May 20 (Bloomberg) — Ryan Jacob, chairman of Jacob Asset Management and manager of the Jacob Internet Fund, talks about the outlook for LinkedIn Corp. following its initial public offering this week. LinkedIn is the largest professional-networking website. Jacob speaks on Bloomberg Television’s “InBusiness with Margaret Brennan.” (Source: Bloomberg)

Read the full article →

CoStar’s People of Note (May 15-21)

May 20, 2011

This week’s People of Note includes the following markets: Chicago, Long Island, New York City, Northern New Jersey, Richmond, San Francisco and Washington, DC. CHICAGO, SAN FRANCISCO Gworek and Weilbach Join Cushman’s Capital Markets Group Cushman & Wakefield added two top investment professionals to its leadership ranks. Multifamily investment specialist Steven Weilbach joined the company as senior managing director of capital markets and…

Read the full article →

Markets end the week on a soft note as uncertainties hover over the outlook

May 20, 2011

Markets end the week on a soft note as uncertainties hover over the outlook

Read the full article →

Euro rises against the dollar and the yen as the beginning of the week

May 16, 2011

Euro rises against the dollar and the yen as the beginning of the week

Read the full article →

Euro rises against the dollar and the yen as the beginning of the week

May 16, 2011

Euro rises against the dollar and the yen as the beginning of the week

Read the full article →

Asia Ahead: The Japanese economy the center of attention in Asia this week

May 15, 2011

Asia Ahead: The Japanese economy the center of attention in Asia this week

Read the full article →

EU shares close the week in red…

May 13, 2011

EU shares close the week in red…

Read the full article →

U.S stocks close the week in red…

May 13, 2011

U.S stocks close the week in red…

Read the full article →

Gordon Whitman: Day of Reckoning Coming Soon on Foreclosure Scandal

May 12, 2011

This is going to come as a big shock: Wall Street banks are manipulating the media in their campaign to avoid responsibility for throwing millions of people out of their homes and sending our economy into a tailspin. For months, the attorneys general from all 50 states have been investigating the big banks for fraudulent, criminal, and generally unconscionable behavior in their handling of mortgages and foreclosures across the country. On May 11, the American Banker which serves as a mouthpiece for Wall Street, reported incorrectly that the Attorneys General investigating dropped principal reduction from the terms of an emerging settlement. Principal reduction means adjusting mortgages to reflect homes’ current values — values reflecting the crash caused by the banks. Principal reduction would help reset the housing market and get our economy back on track, and it represents an essential component of a fair settlement. Fortunately, the story being peddled by the American Banker is inaccurate. Reports in the Wall Street Journal and the Huffington Post , suggest that the attorneys general haven’t given up on this key opportunity to hold big banks accountable and provide justice for millions of homeowners. But this effort to spread misinformation about principal reduction being off the table is part of a coordinated effort by Wall Street banks to confuse the public and push off the day of reckoning on their fraudulent foreclosures practices. This week, Zillow issued a report showing that housing values fell in the first quarter of 2011 in the biggest drop since 2008. A full 28 percent of mortgage holders in the U.S. — more than one quarter — now owe more on their mortgage than their home is worth. The primary cause for the continued slide in housing values? It’s the glut of foreclosed homes now flooding the market, thanks to the big banks’ foreclosure frenzy. The good news is that while Wall Street banks have been putting a full court press on the attorneys general to water down an eventual settlement, there’s been a coordinated national campaign to shine a light on the negotiations and make sure that homeowners and communities are protected. Groups like PICO, Alliance for a Just Society and National People’s Action have come together to fight against the big banks and for American families. To ramp up our campaign, we have formed The New Bottom Line — a coalition of community organizations, congregations, labor unions, and individuals working together to build a movement that puts the needs struggling and middle-class families and communities ahead the interests of Wall Street. In San Francisco on May 3, homeowners, clergy, and community leaders converged on the Wells Fargo shareholder meeting , demanding a new bottom line – one that puts homeowners and communities ahead of bank profiteering. They directly challenged Wells CEO John Stumpf to drop his opposition to loan modifications. This week in North Carolina, homeowners, clergy, community leaders and others descended on the Bank of America shareholder meeting to protest the big bank’s fraudulent handling of mortgages. In New York City, people are taking back Wall Street in a weeklong series of events targeting bank practices that driven cities and states into fiscal crisis. In coming days, community and faith leaders will be taking the same message and passion to the J.P. Morgan Chase shareholder meeting . Until banks are held accountable, these actions will continue. As of May 11, 2011, it’s been 864 days since the big banks caused our financial system to implode, and despite causing massive hardship for American families, these mega financial institutions have never wanted to be held accountable for anything. Fixing the mess they created in the housing market is no exception. We need our attorneys general to stand with homeowners, community leaders, clergy, and small businesses to hold banks accountable – not to the banks’ profit but to our new bottom line that puts people first. For more information and to join The New Bottom Line campaign, go to www.newbottomline.com .

Read the full article →

Carol Smoot Joins Global Human Resources Outsourcing as Business Development Manager

May 12, 2011

IRVINE, CA–(Marketwire – May 12, 2011) – GHRO, Global Human Resources Outsourcing, an HR Services firm and PEO organization, announced this week the appointment of Carol Smoot as its new Business Development Manager. Carol has been involved in the sales of business products and solutions for years and GHRO is very pleased to have Carol join the firm. Carol’s unique knowledge of the HR field makes her highly suited to lead our Business Development effort.

Read the full article →

Euro rises against the dollar with the beginning of the week

May 9, 2011

Euro rises against the dollar with the beginning of the week

Read the full article →

Guest Commentary: Risk Back ON This Week?

May 9, 2011

Guest Commentary: Risk Back ON This Week?

Read the full article →

Asia Ahead: Chinese data grabs global attention this week

May 8, 2011

Asia Ahead: Chinese data grabs global attention this week

Read the full article →

Obama Weekly Address Tries To Reassure Public On Economy, Jobs

May 7, 2011

WASHINGTON — President Barack Obama is reassuring the public that jobs and the economy are his top priority. At the end of a historic and emotionally charged week that began with his nationally televised announcement that Osama bin Laden had been killed in Pakistan during a raid by U.S. special forces, Obama on Saturday returned to promoting his energy agenda. U.S. forces raided a compound in Abbottabad, Pakistan, where bin Laden had lived for several years, killing the al-Qaida leader. The news of bin Laden’s demise dominated the week’s headlines. “So although our economy hasn’t been the focus of the news this week, not a day goes by that I’m not focused on your jobs, your hopes and your dreams,” Obama said in his weekly radio and Internet address. He recorded the address Friday while visiting an Indianapolis transmissions plant that makes systems for hybrid vehicles. Obama has been traveling around the country to talk up his plan to reduce U.S. consumption of foreign oil – and the price Americans pay for it – by increasing domestic oil production, encouraging a shift to alternative energy sources and building vehicles that use less fuel. He says shifting to jobs like those at the Indianapolis factory will create more jobs and help the economy grow. “The clean energy jobs at this plant are the jobs of the future, jobs that pay well right here in America,” Obama said. “It’s clean energy companies like this one that will keep our economy growing, create new jobs and make sure America remains the most prosperous nation in the world.” Republicans devoted their weekly message to bin Laden. Massachusetts Sen. Scott Brown praised years of diligent work by the military and by intelligence professionals to pinpoint bin Laden’s location. The al-Qaida leader’s death, Brown said, sends a clear message to others like bin Laden. “The example will not be lost on other terrorists,” Brown said. “Any escape they make will be temporary. Any sanctuary they find will be uncovered. Those who harm or threaten the American people will be dealt with, on our terms, however long it takes.” ___ Online: Obama address: www.whitehouse.gov GOP address: http://www.youtube.com/gopweeklyaddress

Read the full article →

CoStar’s People of Note (May 1-7)

May 6, 2011

This week’s People of Note includes the following markets: Atlanta, Boston, Cleveland/Northern Ohio, New York City, Portland and San Francisco. BOSTON Cushman Promotes Duo in Capital Markets Group Cushman & Wakefield promoted two senior specialists in its capital markets group. Edward C. Maher Jr. (pictured, far left) was named executive vice president and David J. Pergola (left) was appointed executive director. Maher has worked for 26…

Read the full article →

Yen falls against the dollar and major currencies, with the end of the week

May 6, 2011

Yen falls against the dollar and major currencies, with the end of the week

Read the full article →

‘Special Factors’ Blamed For Big Jump In Unemployment Claims

May 5, 2011

WASHINGTON — The number of people applying for unemployment benefits surged last week to the highest level in eight months, a troubling sign a day ahead of the government’s report on April employment. The Labor Department said Thursday that the 43,000 spike in applications to a seasonally adjusted 474,000 last week was largely the result of unusual factors, including a high number of school systems in New York that closed for spring break. Still, it marked the third increase in four weeks. The four-week average, a less volatile measure, rose for the fourth straight week to 431,250. Applications have jumped 89,000, or 23 percent, in the past four weeks. “The trend is clearly upward, so that’s disconcerting,” said Kurt Karl, chief U.S. economist for Swiss Re. “When you get three or four weeks in a row of special factors, they’re no longer so special.” Applications near 375,000 are typically consistent with sustainable job growth. Weekly applications peaked during the recession at 659,000. Rising unemployment applications and other weak economic data this week have prompted some analysts to worry that higher fuel prices may be causing employers to slow their pace of hiring. The government is scheduled to release its April jobs report on Friday. Economists are projecting that the economy likely added 185,000 jobs in April and the unemployment rate may remain 8.8 percent, but some are now saying the numbers could be lower. Thursday’s report also doesn’t bode well for hiring in May, economists said. A Labor Department spokesman blamed much of the latest increase on the unexpected spike caused by New York schools. That resulted in 25,000 layoffs. The department didn’t anticipate the closures when making seasonal adjustments, the spokesman said. The employees affected were bus drives and cafeteria workers, not teachers. One economists was skeptical that school recesses, presumably that have been on the calendar all year, would be difficult to account for. “Whatever school holidays may have occurred in New York were most likely associated with the Easter and Passover holidays, which should not have come as a surprise to those who calculated the seasonal adjustment factors for this year,” said Joshua Shapiro, chief U.S. economist at MFR Inc. Other factors also contributed to the increase, the Labor spokesman said. Oregon launched its own extended unemployment benefit program, which caused an increase in overall applications in the state for unemployment benefits. And auto-related layoffs rose, Some companies have shut down or slowed production because of parts shortages stemming from the earthquake in Japan. Those disruptions are mostly affecting Japanese automakers with plants in the North America. Honda Motor Corp. has slowed production at 10 of its U.S. and Canadian plants. Toyota has cut its U.S. production by two-thirds. Both have said they aren’t laying off workers. But the slowdowns also affect auto-supply companies. Still, applications have risen sharply in recent weeks, raising concerns that high gas and food prices are cutting into consumer spending and slowing the economy. Businesses are also facing higher costs for raw materials, which reduce profit margins. They may be cutting back on hiring as a cost-saving measure. The national average for gas was $3.99 a gallon on Thursday, according to the AAA Daily Fuel Gauge. That is 30 cents higher than a month earlier. Other recent data have also pointed to a weaker job market. A private trade group said Wednesday that a measure of employment growth in the service sector, which employs 90 percent of the work force, slowed for the second straight month. The report, by the Institute for Supply Management, still showed that employment rose, but at the slowest pace in 7 months. The number of people continuing to receive benefits rose 74,000 to 3.7 million. Millions more unemployed are receiving aid from extended benefit programs put in place during the recession. All told, more than 8 million people received unemployment benefits for the week ending April 16, the most recent data available. That was 170,000 fewer than the previous week.

Read the full article →

Property Line News & Blog: CRE Loans Held by Banks Growing?

May 3, 2011

In the week ending April 20, according to data from the Federal Reserve, banks showed a seasonally adjusted increase of $979 million in commercial real estate loans on their books, to $1.458 trillion. …

Read the full article →

Obama Keeps Pushing To End Tax Breaks For Oil Companies

April 30, 2011

WASHINGTON — President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry. “These tax giveaways aren’t right,” Obama said in his weekly radio and Internet address Saturday. “They aren’t smart. And we need to end them.” Drivers in 22 states are paying more than the national average of $3.91 per gallon. In Alaska, California and Connecticut, it’s $4.20 or more. The price jump has slowed economic growth and hurt Obama’s public approval ratings. Exxon Mobil Corp. this week reported nearly $11 billion in profits for the first quarter of this year. Competitors also had huge gains. Senate Majority Leader Harry Reid, D-Nev., says he plans to consider Obama’s proposal as early as this coming week. The president said money recouped from ending the oil and gas tax subsidies should go to new energy resources and research. He said he refuses to cut spending on clean energy initiatives. “An investment in clean energy today is an investment in a better tomorrow,” he said. “And I think that’s an investment worth making.” Obama’s critics say ending the subsidies would mean tax increases that would end up costing jobs. “The president may think he’s punishing CEOs of big companies, but his plan will hurt the everyday consumer of energy and imperil the jobs of millions of hardworking people in American-based companies,” Rep. James Lankford, a first-term congressman from Oklahoma, said in the Republicans’ weekly address. In his address, Obama said the economy was growing again and took note of nearly 2 million new private sector jobs in the last 13 months. But the president did not mention that the pace of the recovery slowed significantly in the first three months of this year. The nation’s economy grew at a 1.8 percent annual rate during that quarter, compared with 3.1 percent in the previous three months. High gasoline prices, bad winter weather and steep government spending cuts were responsible for the slowdown. Eager to show action on gas costs, Obama has pushed to stop the subsidies while also conceding that would not have an immediate effect on prices. He has also called for the Justice Department to investigate possible price fixing and said this week that he was also prodding oil-producing countries such as Saudi Arabia to increase production. Lankford also said that Republicans would not vote to raise the nation’s borrowing limit, now at $14.3 trillion, in the coming weeks unless the measure also includes steps to cut government spending. Presidents have agreed to such deals in the past, and Obama told The Associated Press in a recent interview that some spending restrictions might be necessary to win an increase in the debt ceiling. Without raising that limit, the government would default on its debts. ___ Online: Array Array

Read the full article →

Obama Weekly Address: End Tax Breaks For Oil And Gas Industry

April 30, 2011

JIM KUHNHENN, Associated Press WASHINGTON – President Barack Obama says oil companies are profiting from rising pump prices and he wants Congress to end $4 billion in annual tax breaks for the oil and gas industry. “These tax giveaways aren’t right,” Obama said in his weekly radio and Internet address Saturday. “They aren’t smart. And we need to end them.” Drivers in 22 states are paying more than the national average of $3.91 per gallon. In Alaska, California and Connecticut, it’s $4.20 or more. The price jump has slowed economic growth and hurt Obama’s public approval ratings. Exxon Mobil Corp. this week reported nearly $11 billion in profits for the first quarter of this year. Competitors also had huge gains. Senate Majority Leader Harry Reid, D-Nev., says he plans to consider Obama’s proposal as early as this coming week. The president said money recouped from ending the oil and gas tax subsidies should go to new energy resources and research. He said he refuses to cut spending on clean energy initiatives. “An investment in clean energy today is an investment in a better tomorrow,” he said. “And I think that’s an investment worth making.” Obama’s critics say ending the subsidies would mean tax increases that would end up costing jobs. “The president may think he’s punishing CEOs of big companies, but his plan will hurt the everyday consumer of energy and imperil the jobs of millions of hardworking people in American-based companies,” Rep. James Lankford, a first-term congressman from Oklahoma, said in the Republicans’ weekly address. In his address, Obama said the economy was growing again and took note of nearly 2 million new private sector jobs in the last 13 months. But the president did not mention that the pace of the recovery slowed significantly in the first three months of this year. The nation’s economy grew at a 1.8 percent annual rate during that quarter, compared with 3.1 percent in the previous three months. High gasoline prices, bad winter weather and steep government spending cuts were responsible for the slowdown. Eager to show action on gas costs, Obama has pushed to stop the subsidies while also conceding that would not have an immediate effect on prices. He has also called for the Justice Department to investigate possible price fixing and said this week that he was also prodding oil-producing countries such as Saudi Arabia to increase production. Lankford also said that Republicans would not vote to raise the nation’s borrowing limit, now at $14.3 trillion, in the coming weeks unless the measure also includes steps to cut government spending. Presidents have agreed to such deals in the past, and Obama told The Associated Press in a recent interview that some spending restrictions might be necessary to win an increase in the debt ceiling. Without raising that limit, the government would default on its debts.

Read the full article →

Donald Trump’s Vietnam Draft Claim Called Into Question

April 29, 2011

Earlier this week, Donald Trump said during an interview that he avoided being called to serve in the Vietnam War because he “got lucky” and “had a very high draft number.” The Smoking Gun reports , however, that appears not to have been the case. According to the website , Selective Service records tell a different story: By the time his number (356) was drawn during the December 1, 1969 draft lottery, Trump had already received four student deferments and a medical deferment, according to military records on file with the National Archives and Records Administration. An extract of Trump’s Selective Classification record, seen here, was provided in response to a TSG records request. ( Click here to view the records obtained by The Smoking Gun.) National Review Online relays what Trump initially told New York-based station WNYW about the matter earlier this week. “I was sitting at college, watching,” he said to the local outlet, “I was going to the Wharton School of Finance. And I was watching as they did the draft numbers and I got a very, very high number and those numbers [they] never got up to.” The Smoking Gun reports , however, that the draft lottery that took place in December of 1969 came eighteen months after Trump graduated from the Wharton School at the University of Pennsylvania. National Review Online questioned the claims made by Trump to WNYW on Thursday. Brian Bolduc wrote : But in her biography of Trump, Donald Trump: Master Apprentice , journalist Gwenda Blair attributes the Donald’s escape of the draft to another factor: “Donald’s military career ended with NYMA graduation; despite his athletic prowess, in 1968 he received a medical deferment from the military draft.” Trump has yet to announce whether he plans to run for president in the next election cycle. During a stop in Las Vegas on Thursday night he said he could be expected to make his plans known by June 1. When one woman at the event shouted “run for president,” the billionaire reportedly responded, “I think I am going to make you very happy on that.”

Read the full article →

Canadian GDP Misses Consensus- Loonie Pares Gains for the Week

April 29, 2011

Canadian GDP Misses Consensus- Loonie Pares Gains for the Week

Read the full article →

Canadian GDP Misses Consensus- Loonie Pares Gains for the Week

April 29, 2011

Canadian GDP Misses Consensus- Loonie Pares Gains for the Week

Read the full article →

Jobless Claims Rise To Highest Level Since January, Report Shows

April 28, 2011

New U.S. claims for unemployment benefits surprisingly rose last week to their highest level since January in a sign an anticipated recovery in labor markets may take time, a government report showed on Thursday. Initial claims for state unemployment benefits jumped 25,000 to a seasonally adjusted 429,000, up from a slightly upwardly revised 404,000 the preceding week, the Labor Department said. Economists polled by Reuters were expecting claims to slip to 392,000 from the previously reported 403,000. Jobless claims below 400,000 are associated with steady job growth. The four week moving average, a better measure of underlying trends, climbed to 408,500 from 399,250 in the previous week. It was the highest for the four-week average since February. The number of people still receiving benefits under regular state programs after an initial week of aid tumbled a more-than-expected 68,000 in the week ended April 16 to 3.64 million, the lowest level since September, 2008. Analysts anticipated a drop in continued claims to 3.68 million. (Reporting by Mark Felsenthal, Editing by Chizu Nomiyama) Copyright 2011 Thomson Reuters. Click for Restrictions .

Read the full article →

Dylan Howard Named North Park University’s Men’s Basketball Coach

April 25, 2011

CHICAGO, IL–(Marketwire – Apr 25, 2011) – After reviewing 139 applicants and interviewing five finalists in a national search, North Park University introduced Dylan Howard as its new head men’s basketball coach this week.

Read the full article →

Yen falls against major currencies with the beginning of the week

April 25, 2011

Yen falls against major currencies with the beginning of the week

Read the full article →

A Calm Start for the Week with Housing Data from the United States

April 25, 2011

A Calm Start for the Week with Housing Data from the United States

Read the full article →