It does not matter whether you are focused on the gala event of president Obama's inauguration or Gala apples, it is a new day.
Actually the two gala's have a few things in common. Gala apples are mutli-colored, fairly resistant to bruising and are sweet, with a mild flavor and a thinner skin than most apples. Furthermore, they were cultivated somewhere else, in New Zealand.
I was brought up hearing an apple a day keeps the doctor away. I hope when all is said and done an Obama a day is able to keep depression away.
The stock market was closed yesterday in the United States (see: Martin Luther King: investing in dignity) but there was still news relating to the tough business environment. One that Obama will have to deal with after all the partying is over.
American Eagle Outfitters (NYSE: AEO) last traded at $10.06. American Eagle made a move meant to make this year the one that brings back a bit of the magic that turned a little Western Pennsylvania chain into one of the nation's most valuable brands. Roger Markfield, 67, the company's former chief merchandising officer and still a member of its board, has agreed to return full time for the new position of vice chairman, executive creative director. From my view the company also needs to examine how it can take advantage of the downfall of many lessor competitors and fill some Gaps.
Diageo plc (NYSE: DEO) last traded at $54.13. The company may have to change some of its plans given the current economic climate just like everyone else. Diageo already is reconsidering its plan for a new Guinness brewery Diageo said last year it would build a new brewery in Leixlip, west of Dublin, while cutting output and selling surplus land at St James's Gate in Dublin, where Arthur Guinness started brewing Guinness stout in 1759. "As result of the current difficult global economic situation, which affects both Ireland and the main international markets to be served by the new operations, Diageo has decided to conduct a re-evaluation of this brewing investment programme," it said.
Exxon Mobil Corporation (NYSE: XOM) last traded at $78.10. Indonesia rejects ExxonMobil's claim to Natuna D-Alpha "Upstream oil and gas regulator BPMigas has sent an official letter rejecting ExxonMobil's [plan of development] on Jan. 14," said Energy and Mineral Resources Minister Purnomo Yusgiantoro. he went on to say that ExxonMobil's contract was automatically terminated when the firm failed to submit a feasibility study before the Jan. 9, 2005, deadline. The government's decision not to extend the 2005 contract also is based on its view that ExxonMobil failed to seriously develop the block-an accusation denied by the firm, which claims to have invested $400 million in the block.
General Motors (NYSE: GM) last traded at $3.93. UAW leader: Deadline for auto makeover unrealistic I may agree with the UAW's Ron Gettelfinger who told reporters Monday that many people consider the timeline for the two companies to detail their reorganization plans to be "almost unattainable" and he hopes it "wasn't set up to intentionally fail." However, given how long GM's financial structural dilemma has been known and how long it has been debated it would seem the UAW might have something in the works at least in their own internal discussions before now?
Microsoft Corporation (NASDAQ: MSFT) last traded at $19.71. I'm sure it will not come as surprise to anyone that European Commission found tying Internet Explorer to Microsoft's Windows operating platform gives the program an unfair advantage in the marketplace. In 2004, the commission found Microsoft violated antitrust standards by tying Windows Media Player to its Windows operating system. That determination was upheld by the Court of First Instance in 2007. I'm sure they would find it more fair if a European Company had done the same thing. The EC obviously has begun dissecting MSFT software with a continued vision of what amounts to the "great unraveling".
If the world economy was not such a mess the new president would find little things like wars, deficit spending, Social Security, health care, the environment, the middle east, education and deteriorating national infrastructure issues quite challenging.
That is one thing he will have in abundance -- challenges.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money.
DISCLOSURE: I currently own shares of AEO, and DEO..
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