Financials, Cyclicals - Plus Retailers - Weigh On Equities

LOSSES STEEPEN AS EARNINGS REPORTS NEAR The same dragons that have ravaged the countryside and laid waste to the good citizens of Wall Street - ... of other financials lost ground, on a combination of worries about the fourth-quarter earnings reports that are due out shortly, and exposure to the consumer, amid clear signs that credit-card spending [more...]

Date: 2009-01-14 20:07:09

Blog posts (93) | Videos (53)
 

The Fed Translated…..

Release Date: December 16, 2008 The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 ... . No arguments there. Financial markets remain quite strained and credit conditions tight. I’m not sure ... . Let me rephrase that, in light of the Consumer Price Index report this morning, it’s pretty [more...]

Date: 2008-12-17 04:47:10

Visa Black Card: 1% Cash Back, 0% APR Balance Transfers, Concierge, and Luxury Gifts

Visa is introducing a new credit card catered to consumers who spend $50,000 or more a year ... . According to the card’s application, only 1% of U.S. residents will qualify. I’ve seen reports ... for the card. Some who are accepted have average credit scores and low income. This is not what you would [more...]

Date: 2009-01-09 13:00:02

US News and World Report: The End of the Shopaholic Nation? (pfblogs.org)

Ideas we've been presenting since blog inception i.e. the Pooring of America - are starting to gain fame in the mainstream media. Again, gas dropping 50 cents is not going to fix the consumers problem. I don't care ... credit, and that credit is drying up by the day. Then in the past decade as the middle class loses [more...]

Date: 2008-09-20 21:59:02

OPEC Loss Grocers’ Gain: Americans Spend Pump Savings on Food

Groceries are the top item on which US consumers are spending their savings from lower gas prices, ahead of putting the money in savings, ... holiday gift-buying, and paying off credit cards, according to research from retail analytics firm Precima, Retailer Daily reports. Of the 3,013 consumers who were asked to choose from a list of ... [more...]

Date: 2009-01-02 12:40:37

Looking ahead

For Thursday: • Congress holds a joint session to count the electoral ballots for president and vice president. ( ... consumer credit figures for November. • The Treasury Department's man behind the TARP delivers ... . • Economic reports: The Labor Department announces the latest unemployment claims; retailers report [more...]

Date: 2009-01-08 02:07:47

Can’t make your car payments? Buy a Hyundai

Tightwad_tod_marks_consumer_reports It’s bad enough if you lose your job in this miserable economy. It’s even worse if you’re out of work and you’ve just invested in a new car. With more than 10 ... , the plan is a calculated gamble on the automaker’s part to bring potential buyers with responsible credit [more...]

Date: 2009-01-09 01:10:49

Consumer Reports Retirement Survey: Planning Ahead May Be Just As Risky As Rewarding

February issue offers 17 moves to rebuild the nest egg and secure the future In the wake of big investment losses many have turned to Plan B to ... their credit card use and spent less on groceries and household goods. “When bad investments happen to good people, they have to work harder to slash debt, cut spending and save more. Switching to Plan [more...]

Date: 2009-01-06 12:09:04

Economy Weakens PC, Chip Sales

Things are not looking good for PC and chip manufacturers as consumers held back on electronics purchases during the holidays ... for the first time in 6 years in the fourth quarter of 2008, according to a new report from IDG ... tightening credit, eroding confidence, and growing unemployment,” said Doug Bell, research analyst [more...]

Date: 2009-01-16 20:37:39

News roundup: Santa slayings; retail sales; weather; Chicago; Eartha Kitt

Good morning. It's Friday. Massacre: Details are emerging about the Christmas Eve massacre and fire by a church usher dressed as Santa Claus, ... Journal reports. Sales plunged 5.5% in November and 8% in December through Christmas Eve as consumers kept their cash and credit cards in their wallets, according to MasterCard Inc.'s SpendingPulse [more...]

Date: 2008-12-26 15:52:10

AutoNation Reports Operating Profit

AutoNation (AN) reported an operating profit this morning..... ... on the numbers: Other recent dealers reports: Sonic Automotive (SAH), the number three auto retailer ... financial crisis, which affected consumer confidence, and lenders raising credit standards had hurt [more...]

Date: 2008-11-06 15:20:22

JPMorgan chief sees bleak year ahead

The US financial and economic crisis will worsen this year as hard-hit consumers default on credit cards and other loans, Jamie Dimon, chief executive of JPMorgan Chase, has predicted. Dimon, whose bank will report Q4 results on Thursday, gave his bleak assessment in an FT interview as bank shares tumbled in key markets on fears [more...]

Date: 2009-01-15 05:31:17

MortgageNewsClips: Spreadsheet Resource, Realtors Beware, Credit Cards, Lou Ranieri, Securitization Primer, Popular Sells, Asymmetric Risk, Damage Report, Disparity, NY Mortgages, Freddie Automates, 3 more News Clips

RESOURCE: has list of sites offering free spreadsheets - Spreadsheets: Free to Learn - No-cost tutorials, instruction, ... Ross - Inman News ———— BusinessWeek_logo Credit-Card Rage - Debt-strapped consumers vent ... -old concept of securitization a bad name, IMF Economist Andreas Jobst writes. Securitization [more...]

Date: 2008-09-02 10:37:39

Keep Watch For The Missing Quarter

How secure is yours? How secure is yours? HARRISBURG PA - Internet chat rooms are filling with complaints from credit card customers nationwide ... : File a dispute immediately with your credit card company; Call Pennsylvania’s Bureau of Consumer ... business with. The company, Adele Services of Melville NY, doesn’t exist, according to a report Sunday [more...]

Date: 2009-01-16 10:40:26

Green Ink: Ethanol Woes and Closing Arguments

Crude oil futures slipped to $66 on Monday amid signs economic woes are spreading, Bloomberg reports: ... prices and now the credit crunch; the long-term outlook isn’t much clearer for the industry, argues ... up costing more to implement than consumers are willing to pay, at Green Car Congress. Southeastern [more...]

Date: 2008-11-03 13:11:53

Treasury’s Handling of the Bailout: “Bad News and Worse News”

This is how Barney Frank characterizes the the Government Accountability Office’s (GAO) first oversight report on Treasury’s administration of TARP (aka “$700 Billion Bailout” ... s decision to use TARP funds entirely to recapitalize banks and consumer-credit companies rather than [more...]

Date: 2008-12-11 18:51:33

Study Reveals Hispanics’ Attitudes Toward Finances

Hispanic consumers in the US say they feel more financially secure than they have in the past and are using credit cards more, ... but their self-reported lack of knowledge about financial matters also has increased, according to a study from Experian Consumer Research. The study, which is part of a broader body of research that ... [more...]

Date: 2008-11-11 18:55:19

Banks Supposedly Will Cut Consumer Credit Card Lines by $931 Billion if Reforms Mandated

There is a rather amusing story at the Financial Times tonight, "Credit card reforms ‘to cost banks billions’". Let's look at the particulars ... that banks will lose $10 billion in interest annually, reduce credit lines by $931 billion, and put ... not get anyone well known for banking expertise to put its name on a self-serving report [more...]

Date: 2008-12-15 01:59:42

Mixed Reactions to Cheaper Gas

As I reported last week, it’s still unclear what consumers may do now that oil and gasoline prices have plummeted. A bit of news from TradingMarkets ... since 1942. While this is bad news for car companies and dealers, it’s certainly boosts ... to get credit, and they have other financial priorities right now. … What we’re seeing is that lower [more...]

Date: 2008-10-29 23:28:00

A 90?s Flashback for Commercial Property

Angela Pruitt reports: Commercial property is bracing for a tough time that could morph into a crisis similar in scope to the free ... in history. But with the credit markets in lock-down mode, consumer confidence battered ... on investment-grade corporate debt,” Kirby said. “Those rates have gone up north of 9%. That’s bad news [more...]

Date: 2008-11-26 15:40:57

Retail Sales Disappoint

Retail sales disappoint….  Chuck’s views on the Lone Prop…  Waiting on the ECB…  Emerging market currencies sell off…  And Now… Today’s Pfennig! ... according to yesterday’s report from the Commerce Department. The falling home prices, rising job losses, and tighter credit have all combined to finally force US consumers to adjust their spending [more...]

Date: 2009-01-15 17:57:41

Price comparison traffic up 37% thanks to economic downturn

With prices rising and the credit crunch biting, consumers are taking more time to find the best deals online. Last week we contributed to an Experian Footfall report which highlighted the downturn on the high street and in out of town shopping centres, compared with the increase in online retail traffic [more...]

Date: 2008-07-15 10:54:15

Used Exotics Going For Honda Accord Money

2001porsche911 As brokers and bankers fall from the credit tightrope, they’ll have to downsize the excesses in their lives ... in price to a high-end Accord. Consumer Reports gives the 2004 E-Class an “average” reliability rating [more...]

Date: 2008-12-24 16:34:27

Repossessed Toys Are A Booming Business

The San Diego Union-Tribune is reporting The Economy is forcing many to let go of luxury toys ... of the Association of Independent Consumer Credit Counseling Agencies based in Fairfax, Va. "It's happening [more...]

Date: 2008-08-25 05:10:38

Goodbye Circuit City

Goodbye Circuit City Submitted by Doug Thompson on January 16, 2009 - 4:45pm ... out to be too little too late. Reports The New York Times: Circuit City, once a bellwether American ... retailing. Weak chains — unable to weather the freeze-up in consumer spending, and choked by tight credit [more...]

Date: 2009-01-16 20:45:39

Identity Theft - Are you protected?

I work in the computer services industry ... . In discussing the report, Lydia B. Parnes, the Director of the FTC's Bureau of Consumer Protection ... by the Fair and Accurate Credit Transactions Act (FACT Act) and see how safe it makes you feel [more...]

Date: 2008-06-23 22:28:00

Tough Times Topple Woolworths

The credit crunch and consumer pessimism may spell a bleak outlook for other British retailers in 2009. MarketWatch’s Aude Lagorce reports. 12/31/2008 [more...]

Date: 2009-01-02 19:15:40

Sony Ericsson reports results for fourth quarter and full year 2008

.fullpost{display:inline;} Highlights:Global economic slowdown leads to contracting consumer demand Previously announced annual Euro 300 million cost ... of credit. Gross margin became 15% due to negative impact from exchange rate fluctuations [more...]

Date: 2009-01-16 07:56:00

eCommnerce Chargebacks and Remedies

According to a recent report (Oct, 2008) by CyberSource (a leading payment & risk management services company) ... with their bank or credit/debit card provider. Sometimes the consumer dispute is untrue, and their refund claim ... . In cases of credit card fraud, the merchant loses the goods or services sold, the payment, the fees [more...]

Date: 2009-01-06 07:09:50

OPEC's Loss Is Grocers’ Gain

Groceries are the top item on which US consumers are spending their savings from lower gas prices, ahead of putting the money in savings, holiday gift-buying, and paying off credit cards, according to research from retail analytics firm Precima, Retailer Daily reports. [more...]

Date: 2009-01-04 14:01:34

N.J. man learns modifying mortgage to cut payments may impair credit rating

by Moe Bedard on September 29, 2009 · 0 commentsin American Nightmare To confuse consumers even more, not all lenders follow the guidelines.That may change on November 1, when lenders can use a new code to report them as a “loan modification under government program.” The code will clarify which borrowers have taken modifications, but because the modification process itself is not streamlined, it won’t be the only worm squiggling out of the can.The bigger impact on credit scores may depend on how [more...]

Date: 2009-09-29 13:48:05

Ford Credit Australia Strategy Exposed By USD$1.5 Billion For Chrysler Financial

Ford Credit Australia’s ham-fisted strategy behind its announcement that it is to exit consumer retail finance here, is put into clear perspective by news today from the US. There, the US... Click through to The Motor Report for the full article. [more...]

Date: 2009-01-17 13:35:38

The vast majority of people are not in trouble.

  Most of the consumers you talk with will not have a good handle - I am not sure anyone does yet - of the nature of the credit problem ... that a financial institution or Fannie/Freddie issued and now holds in their portfolio is reported as a bad ... they do not have enough asset value in the home to cover their loan.       *     Remember the [more...]

Date: 2008-09-30 12:45:59

What is a bear market rally?

As the global financial crisis plays out, Report on Business writer Richard Blackwell examines and explains the economic outlook and the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top ... plants. However, some of the gas consumed in Ontario is imported from the United States [more...]

Date: 2009-01-08 11:05:51

Consumer Alert: Incredimail Fraudulent Charges

Please, anyone who visits my homepage: do not use, install, give money to, give credit card information to, or associate with this company.  I am so disgusted with them I’m about to report them to the BBB. First off, the program ... their contact form and still have not heard back from them. I had to call my bank and dispute the charge [more...]

Date: 2009-01-06 16:30:10

Will 2009 Be Year of Saving?

For U.S. consumers, 2009 is likely to be the year of saving, rather than spending ... last week that since the credit markets have gone into the tank, businesses have scaled back ... . Financial blog Calculated Risk posted a listing Tuesday of media reports of salary freezes, ranging [more...]

Date: 2008-12-23 10:52:00

Helping to Explain the Bailout Issue

   Helping to Explain the Bailout Issue to Jittery Clients/Consumers Most of the consumers you talk with will not have a good handle - I am not sure anyone does yet - of the nature of the credit problem. In this short article, I hope to give ... /Freddie issued and now holds in their portfolio is reported as a bad investment because the value [more...]

Date: 2008-10-03 13:49:54

Helping to Explain the Bailout Issue to Jittery Clients/Consumers

by: Chris Galler, COO - Minnesota Association of REALTORS Most of the consumers you talk with will not have a good handle - I am not sure anyone does yet - of the nature of the credit problem. In this short article, I hope to give you at least ... and now holds in their portfolio is reported as a bad investment because the value of the asset [more...]

Date: 2008-10-01 17:06:08

Not So Happy New Year As Financial Crisis & Pain Grow; Home Prices & Consumer Confidence Down Dramatically; Will 2010 Be Better?

Happy New Year! If you are like most people, that may sound a bit like wishful thinking this time around. And, I’m afraid, with good reason ... markets, the news agency reports. Any good news? Well, yeah. I suppose. Sort of. If you have money or can get money (many can’t nowadays even with pretty good credit scores) then you can probably find [more...]

Date: 2008-12-31 21:56:06

Credit repair DIY: fix errors on your credit reports

Under federal law, consumers can challenge inaccurate information on credit reports and other consumer reports (such as tenant screening reports). It is free, usually quick, and relatively painless. Plus, there are a lot of great how-to guides on the web. I have mentioned the FTC guides before. The excellent Building a Better Credit Report [more...]

Date: 2008-08-11 20:29:06

Outstanding Outcomes With Credit Repair

Very few people elude fiscal difficulties completely and most people are subjected to bad credit at some time or another. These tribulations are becoming even more widespread in the recent fiscal disaster. But you can take steps to repair your credit. You have a right to repair your derogatory credit. The Fair Credit Reporting Act is a Federal law that was enacted back in the 1970’s to guard consumers. Up to 79% of all credit reports contain wrong, false or erroneous credit. [more...]

Date: 2009-08-31 09:47:21

FTC Approves Federal Register Notice Announcing Increase in the Ceiling on Allowable Charges Required By Section 612(f) of the Fair Credit Reporting Act

My comment: As we all know it's important to give near bankrupt companies who completely screwed up their business billions of dollars and find ways ... for an additional free disclosure. Under federal law, consumers are entitled to a free copy of their credit report ... an application for credit, insurance, or employment) and consumers request their rep [more...]

Date: 2008-12-15 20:41:14

Debt Is Up! Debt Is Down! Which Is It?

Two recent stories regarding consumer debt caught my eye because I read them practically right after each other … From the Associated Press on ... to end this cycle, I wonder - and how bad is it, really? Although the delinquency rate on credit ... trillion, the Federal Reserve reported Friday. Consumer credit rose at a 3.1 % pace in September [more...]

Date: 2008-12-16 01:28:57

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