BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Oil execs on Capitol Hill]]>http://www.bloggingstocks.com/2008/04/02/oil-execs-on-capitol-hill/http://www.bloggingstocks.com/2008/04/02/oil-execs-on-capitol-hill/http://www.bloggingstocks.com/2008/04/02/oil-execs-on-capitol-hill/#commentsFiled under: ,

Yesterday, the Washington Post reports that oil executives were marched up to Capitol Hill for their ritual slaughter before elections in November. But nothing will come out of it. Is this merely political posturing? Will the politicians actually do anything to force companies to ease consumers' pain at the pump? Should they? Yes, No, and No.

It is merely political posturing. Politicians can't afford to cut into the profits from the oil companies because the oil companies are partially responsible for financing their re-election campaigns. Politicians will not actually force the companies to do anything to ease consumers' pain. Some - such as Massachusetts legislators - are talking about ways to increase consumer's pain by raising gasoline taxes.

One oil executive said: "Consumers have the choice to drive less." I think this is a ridiculous, insulting statement. It makes as much sense as saying to oil executives that they have the choice of giving their annual salaries and other compensation to charity. It is theoretically possible, but it is not in their self-interest. Therefore it won't happen.

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Oil execs on Capitol Hill originally appeared on BloggingStocks on Wed, 02 Apr 2008 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>capitol hillCapitolHillinthenewsoilWed, 02 Apr 2008 18:00:00 EST<![CDATA[A FlyOnTheWall.com look at election ramifications]]>http://www.bloggingstocks.com/2006/11/08/election-ramifications/http://www.bloggingstocks.com/2006/11/08/election-ramifications/http://www.bloggingstocks.com/2006/11/08/election-ramifications/#commentsFiled under: , ,

One day after Election Day and everything is upside down on Capitol Hill. The market's knee-jerk reaction today was a drop in defense stocks and pharmaceuticals due to the Democrats contrarian stance on issues key to those industries.

Another key Democratic issue that the markets seemed to overlook was the party's desire to reform the Federal minimum wage, which has not been raised from $5.15 per hour since September 1997. Notably, President Bush, who still holds veto rights on any bill passing through Congress, said today that minimum wage was an issue he could cooperate with Democratic leaders about. Additionally, six states (Arizona, Colorado, Missouri, Montana, Nevada and Ohio) approved minimum-wage hikes yesterday at a state level.

Most likely affected by a wage increase are fast food companies such as McDonald's (MCD), Wendy's (WEN) and Yum Brands (YUM); casual dining chains such as Applebee's (APPB) and Brinker International (EAT); and retail chains such as Wal-Mart (WMT), Target (TGT) and Federated (FD), to name a few.

Post provided by Eric Buscemi and TheFlyOnTheWall.com (subscription required).

A FlyOnTheWall.com look at election ramifications originally appeared on BloggingStocks on Wed, 08 Nov 2006 17:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>capitol hillCapitolHilldemocratsmcdonaldsminimum wageMinimumWagerepublicansWed, 08 Nov 2006 17:45:00 EST