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Strong corporate earnings push stocks higher

Posted by on April 22, 2012 No comments

NEW YORK (AP) ? Stronger profits from Microsoft, McDonald’s and other major U.S. corporations pushed stocks higher Friday. Optimism from Europe helped brighten the mood.

The Dow Jones industrial average was up 88 points to 13,052 at 1:30 p.m. in New York.

“There’s been a wrestling match all week long between strong earnings and weak economic data,” said Lawrence Creatura, a portfolio manager at Federated Investors, the money-management firm. “At the moment, earnings are winning.”

Before the market opened, McDonald’s posted better quarterly profits, buoyed by warm weather and sales of new menu items like Chicken McBites and oatmeal. Sales picked up even in Europe, McDonald’s’ biggest market, despite economic turmoil and severe weather.

Microsoft beat analysts’ projections with quarterly earnings and revenue, and sales in its Windows division were surprisingly strong. And General Electric posted a profit of more than $3 billion, helped by orders for locomotives, aircraft engines and other equipment.

In Europe, Germany’s DAX rose 1.2 percent, and other major stock indexes were slightly higher. A closely watched survey in Germany, the continent’s economic powerhouse, showed business optimism rising for the sixth straight month. Economists had expected a decline.

In other trading, the Standard & Poor’s 500 index added six points to 1,383. The Nasdaq composite index rose 10 points to 3,018.

All three indexes appear headed for weekly gains. The Dow is up 1.8 percent for the week, but it hasn’t been a smooth ride. Better earnings reports and higher retail sales helped drive the stock market up to start the week. The Dow rose 194 points on Tuesday, its best day in more than a month.

Then worries about Europe came storming back. Markets reversed course Wednesday, after the Bank of Spain said that the amount of bad loans held by Spanish banks rose to an 18-year high.

If those banks falter, it would put pressure on Spain’s already troubled government to prop them up. Weak reports on jobs, housing and manufacturing in the U.S. added to the selling pressure. The Dow slumped 151 points in two days.

“It’s been like the weather here in upstate New York ? unpredictable,” Creatura said. “One day is up, the next day is down.”

With no worrying news out of Europe on Friday, U.S. Treasury prices fell for just the second time this week. The price of the 10-year Treasury dropped slightly, nudging its yield to 1.98 percent from 1.97 percent the day before.

Among stocks making big moves in the United States:

? Oil services giant Schlumberger Ltd. rose 4 percent. The company’s quarterly profits jumped almost 38 percent as strong drilling activity in the Gulf of Mexico and the Middle East offset a slowdown in North America’s natural gas fields. Schlumberger said that world oil demand appears to have “stabilized” and that the risk of a double-dip recession has declined.

? E-Trade Financial Corp. jumped 6.8 percent, the largest gain in the S&P 500. The online broker reported a 40 percent jump in first-quarter profit after the close of trading Thursday, beating Wall Street estimates with the help of a big tax benefit.

? SanDisk Corp. plummeted 13 percent, the S&P’s biggest loser. The flash memory maker said late Thursday that weak demand and low prices cut its quarterly profit by nearly half. SanDisk warned that it expects the trend to continue.

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The Takeaway: 1 In 4 Working-Age Americans Had No Health …

Posted by on April 22, 2012 No comments

Posted on 04/20/2012 by Elizabeth Nolan Brown | AARP Blog Author | Comments

News Roundups

Individual Insurance Market Too Costly for Most: More than a quarter of working-age U.S. adults?or about 48 million people?lacked health insurance?at some point in 2011,?according to a new study from the nonprofit Commonwealth Fund.?The study polled people aged 19 to 64. Of those without insurance, 70 percent had spent a year or more without coverage, and 57 percent had been uninsured for two years or more.

Without insurance, people quickly disconnected from the health care system by avoiding basic medical services such as doctor visits and screenings for cancer, cholesterol and high blood pressure.

About 40 percent of the uninsured group had previously been covered by an employer-sponsored plan. Another 18 percent were dropped from Medicaid rolls; 27 percent had never been insured.

Nearly two-thirds said they tried to buy an individual health insurance policy within the past three years, but found it very difficult or impossible to find affordable coverage. And 31 percent were turned down, charged a higher price or had a condition excluded because of a preexisting condition.

?For people who lose employer-sponsored coverage, the individual market is often the only alternative, but it is a confusing and largely unaffordable option,? said Commonwealth Fund Vice President Sara Collins, lead author of the report.

Friday Quick Hits:?

  • New York Times dining editor Pete Wells asks: Can restaurant design be discriminatory? Wells cites ?a litany of restaurant trends that have engulfed New York over the past decade?? no-reservations policies, uncomfortable and often backless seats, communal tables, blaring music, dim lighting?that could be done purposely to keep older customers away.

Photo:?UpperCut/Getty Images

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Tagged: “health care”, Commonwealth Fund, health insurance costs, health studies, uninsured??? Facebook

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Federal discrimination suit brews over REO marketing, care …

Posted by on April 11, 2012 No comments

(Update: NFHA, on April 10, filed discrimination charges against Wells Fargo with the U.S. Department of Housing and Urban Development.)

The same kind of discrimination that saddled minorities with unnecessarily burdensome loans during the housing boom, is alive and kicking in minority neighborhoods struggling with foreclosures, according to an investigation by the National Fair Housing Alliance (NFHA).

It the first salvo of what could lead to another national suit against banks, as well as mortgage lenders, investors, and other entities, NFHA says it has glaring evidence that those responsible for real estate owned (REO ? bank owned properties) properties take better care of REOs in white neighborhoods than REO?s in minority neighborhoods.

NFHA?s recently released ?The Banks Are Back ? Our Neighborhoods Are Not? reports REOs in minority neighborhoods were 42 percent more likely to have more than 15 maintenance problems than properties in white communities.

A trashed property is a property with lower value and reduced marketability. An inventory of such properties creates a domino effect, bringing down the value of adjacent properties, the surrounding neighborhood and adjoining neighborhoods.

The report also found less care in marketing REOs in minority neighborhoods ? REOs in white neighborhoods were 33 percent more likely to be marketed with a professional ?For Sale? sign than those in African-American or Latino communities, the investigation found.

Professional marketing, designed to obtain a fast sale at the best price, is the fiduciary responsibility of the entity responsible for any property?s sale. Marketing is even more crucial for distressed properties.

Fair housing irony

Ironically, this month, April, is ?Fair Housing Month? in honor of the Fair Housing Act of 1968, which prohibits discrimination concerning the sale, rental, and financing of housing based on race, religion, national origin, sex, handicap and family status.

The law is a tribute to Rev. Dr. Martin Luther King, Jr. for his efforts in equality.

?This is an investigation ? not a study ? that will culminate in the filing of administrative complaints with HUD (U.S. Department of Housing and Urban Development) and/or lawsuits in federal district court. The first complaint will be filed shortly,? said Shanna L. Smith, NFHA?s president and CEO.

The NFHA was formed 20 years after the federal fair housing law, which has had limited success providing true equality in housing. The 24-year old alliance of more than 220 private, non-profit fair housing organizations, state and local civil rights agencies and individuals, is solely dedicated to eradicating discrimination in housing.

It?s not the first charge of discrimination to arise out of the housing crisis.

Numerous studies reveal minority neighborhoods were hit hardest by the housing crash, often because lenders targeted minority borrowers with toxic subprime mortgages, loans laden with unnecessary fees and other loans that were more expensive than loans for whites with the same creditworthiness.

With a disproportionate share of predatory mortgages, minorities were victimized again when they suffered a disproportionate number of homes lost to foreclosure.

Minority households also suffer mortgage rescue fraud more than whites.

NFHA says discrimination has continued to undermine minority neighborhoods and it?s time to quash it.

?This report offers evidence that banks responsible for peddling unsustainable loans to communities of color and triggering our current foreclosure crisis are continuing to damage those communities by failing to properly maintain and market the properties they own,? Shanna said.

Not so fair housing

Over the past year, NFHA evaluated a total of more than 1,000 REOs spread throughout nine major U.S. cities and checked 39 aspects of REO maintenance and marketing, including curb appeal, structure, signage, signs of water damage and the condition of paint, siding and gutters.

The investigation found:

? Trash and debris were 34 percent more likely to be found on REO properties in minority neighborhoods than in white neighborhoods.

? REO properties in minority neighborhoods were 82 percent more likely to have broken or boarded windows, than those in white neighborhoods.

? In the nation?s capital, Washington, D.C., 60 percent of REOs in African-American neighborhoods had broken or boarded windows, compared to 39 percent in white neighborhoods.

? In Phoenix, AZ, 73 percent of REOs in Latino neighborhoods were missing a ?For Sale? sign, compared to 31 percent in white neighborhoods.

? In Dallas, TX, 73 percent of REOs in neighborhoods with a majority of minorities; 68 percent of Latino neighborhood REOs; 60 percent of African-American neighborhood REOs; but only 37 percent of white neighborhood REOs had substantial amounts of trash on their properties.

The report concludes:

?By failing to provide consistent and equal maintenance and marketing practices to their portfolio of REO properties in both communities of color and white communities, lenders and servicers commit housing discrimination in violation of federal law.?

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Wall Street ends flat ahead of Fed meeting

Posted by on March 13, 2012 No comments

NEW YORK (Reuters) – Defensive names rallied in an otherwise flat day for Wall Street on Monday, as traders paused to digest recent gains and looked ahead to a Federal Reserve monetary policy statement.

The Dow Jones industrial average gained 37.69 points, or 0.29 percent, to end unofficially at 12,959.56. The S&P 500 Index ticked up just 0.22 of a point, or 0.02 percent, to finish unofficially at 1,371.09. The Nasdaq Composite dipped 4.68 points, or 0.16 percent, to close unofficially at 2,983.66.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)

Source: http://news.yahoo.com/stock-futures-point-lower-wall-street-open-091914460.html

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Mobile Computing is the ?New Normal? for Federal Employees …

Posted by on February 8, 2012 No comments

CDW Government LLC (CDW-G), a leading provider of technology solutions to government, education and healthcare customers, today announced the results of its first Federal Mobility Report, an assessment of how Federal employees are using mobile devices today. More than half of Federal employees use at least one mobile device at work, CDW-G found, and many are using personal devices to accomplish work-related tasks. Nearly all Federal employees who use a mobile device for work believe the device makes them more productive, and the majority say increased mobility will improve citizen service.

The report, based on a survey of 414 Federal employees and IT staff, examines current trends in mobility, how agency IT professionals are managing mobile devices, and the steps they are taking to secure Federal data.

Mobility is no longer just a nice-to-have capability, CDW-G found: Nearly all 203 Federal IT professionals (99 percent) said they have deployed mobile devices to their agency workforce. What?s more, 62 percent of those IT professionals said their agencies allow employees to use personal devices for work.

?Mobility is the ?new normal? for Federal employees,? said Bob Kirby, vice president of federal government for CDW-G. ?Employees increasingly expect to be able to work anywhere and at any time. Agencies responded first by deploying mobile devices, and now they are enabling use of personal devices. And the Bring Your Own Device (BYOD) trend is likely to continue, following the Obama administration?s November 2011 executive order that asked agencies to limit the number of IT devices they issue to employees, including mobile devices, in order to reduce costs.?

Agencies are providing a good security baseline for mobile device use, with the majority establishing mobile data security policies (85 percent) and requiring data security training for mobile device users (84 percent). However, CDW-G found that there is room for agencies to improve security measures in order to protect sensitive data. For example, while 82 percent of IT professionals said their agency deployed encryption for mobile devices, far fewer said their agency protects mobile devices with multi-factor authentication (54 percent), remote lock and wipe (45 percent), and data loss prevention software (39 percent).

?Federal employees ? just like those in other industries ? access a wide variety of data in the course of their jobs, from financial information to employee and taxpayer records to email and social networking accounts,? Kirby said. ?Employees understand the need to keep private information just that ? private. But as cyber threats become increasingly sophisticated, they need a full suite of security tools to help them.?

Mobile device management (MDM) ? over-the-air distribution of applications, data and configuration settings for all types of mobile devices ? can help agencies deploy and manage security tools across the mobile workforce, while reducing IT management costs. While 71 percent of Federal IT professionals say they include MDM in their security efforts, CDW-G found that most are not deploying a full suite of security tools to agency and personal devices via MDM, revealing an opportunity to improve agencies? security posture.

CDW-G recommends that agencies:

  • Evaluate and/or establish a BYOD policy
  • Assess their MDM needs
  • Audit their MDM tools to ensure they support the agency?s security goals
  • Incorporate the personal devices employees use for work into the agency?s MDM strategy

The CDW-G Federal Mobility Report surveyed 203 Federal IT staff and 211 Federal employees. The margin of error for the total sample is ? 4.8 percent at a 95 percent confidence level.

For a copy of the complete CDW-G Federal Mobility Report, please visit http://www.cdwg.com/federalmobility.

About CDW-G

A wholly owned subsidiary of CDW LLC, ranked No. 32 on Forbes? list of America?s Largest Private Companies, CDW Government LLC (CDW-G) is a leading provider of technology solutions to government, education and healthcare customers. The company features dedicated account managers who help customers choose the right technology products and services to meet their needs. The company?s solutions architects and engineers offer expertise in designing customized solutions, while its advanced technology engineers assist customers with the implementation and long-term management of those solutions. Areas of focus include notebooks, desktops, printers, servers and storage, unified communications, security, wireless, power and cooling, networking, software licensing and mobility solutions.

For more information about CDW-G product offerings, procurement options, service and solutions, call 1.800.808.4239, email cdwgsales@cdwg.com or visit the CDW-G Web site at CDWG.com.

Source: http://gov.ulitzer.com/node/2157483

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Japan population to shrink by one-third by 2060 (AP)

Posted by on January 30, 2012 No comments

TOKYO ? Japan’s rapid aging means the national population of 128 million will shrink by one-third by 2060 and seniors will account for 40 percent of people, placing a greater burden on the shrinking work force population to support the social security and tax systems.

The population estimate released Monday by the Health and Welfare Ministry paints a grim future.

In year 2060, Japan will have 87 million people. The number of people 65 or older will nearly double to 40 percent, while the national work force of people between ages 15 and 65 will shrink to about half of the total population, according to the estimate, made by the National Institute of Population and Social Security Research.

The total fertility rate, or the expected number of children born per woman during lifetime, in 2060 is estimated at 1.35, down from 1.39 in 2010 ? well below more than 2 needed to keep the country’s population from declining. But the average Japanese will continue to live longer. The average life expectancy for 2060 is projected at 90.93 for women, up from 86.39 in 2010, and 84.19 years for men, up from 79.64 years.

Prime Minister Yoshihiko Noda has pledged to push for social security and tax reforms this year. A bill he promised to submit by the end of March would raise the 5 percent sales tax in two stages to 8 percent in 2014 and 10 percent by 2015, although opposition lawmakers and the public pose challenges to its approval.

Experts say that Japan’s population will keep losing 1 million every year in coming decades and the country urgently needs to overhaul its social security and tax system to reflect the demographic shift.

“Pension programs, employment and labor policy and social security system in this country is not designed to reflect such rapidly progressing population decline or aging,” Noriko Tsuya, a demography expert at Keio University, said on public broadcaster NHK. “The government needs to urgently revise the system and implement new measures based on the estimate.”

Source: http://us.rd.yahoo.com/dailynews/rss/japan/*http%3A//news.yahoo.com/s/ap/20120130/ap_on_re_as/as_japan_population

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