When you spend $787 billion, there's a lot of pressure to show results. So, there's no surprise that success is being proclaimed across the country. States are saying that they've used the federal stimulus package money to create or save more than 388,000 jobs this year. Teachers, construction workers and other professions have realized the upside of stimulus cash according to reports from 33 states and Puerto Rico, with the remainder of the results being released on Friday.

Of course, the numbers "should be taken with a grain of salt," says Ethan Pollack of the Economic Policy Institute. The states were tasked to count the jobs created or protected, but the results have been of dubious accuracy. This doesn't mean the stats can't provide fodder to people on both sides of the aisle.

Columbia Business School's Frank Lichtenberg says the data shows a solid economic impact, and the Obama administration's Council of Economic Advisors believes the stimulus spending has taken care of between 600,000 and 1.1 million jobs.

And, there are those who disagree.

Continue reading Race to declare victory for stimulus

Race to declare victory for stimulus originally appeared on BloggingStocks on Wed, 28 Oct 2009 16:40:00 EST. Please see our terms for use of feeds.

A look at the lives of the Forbes 400 implies that the most important attribute is the ability to sift through ambiguity. Contradictions abound, meaning that shades of gray hold the answer to your burning desire for riches. Should you go to a great school? Well, yes ... but only if you're going for an MBA and plan to work for a major financial firm. But, you can still go to an Ivy League school if you're not studying finance but join Skull and Bones. Of course, dropping out of Harvard can be a great way to launch a career in the technology field.

It's tricky. There are no easy answers. But, the road to billions is littered with the corpses of aspiring magnates who thought it wouldn't be difficult. So, don't just read the seven attributes after the jump. Understand them. Read them twice. Then, your future financial situation will be assured.

Or, you can just do one of those chain e-mails and wish for wealth.

[Thanks, Forbes and MSNBC]

Continue reading Seven characteristics of the rich and famous: A blueprint to uber-wealth

Seven characteristics of the rich and famous: A blueprint to uber-wealth originally appeared on BloggingStocks on Mon, 05 Oct 2009 17:00:00 EST. Please see our terms for use of feeds.

With oil prices falling, some members of OPEC would like to see price cuts to put upward pressure on crude. That would make sense. It would bring members of the cartel more money and stretch out the pace at which they need to ship their current reserves.

Venezuela, where the head of state Hugo Chavez seems to have no love for the U.S., has lobbied fellow OPEC members hard to dial back oil shipments. The Arab states may not be so eager. According to Bloomberg, "Saudi Arabia, the world's biggest producer and de facto leader of the 13-member Organization of Petroleum Exporting Countries, the United Arab Emirates, Qatar, and Kuwait may reject calls from Venezuela and Iran to trim supplies at its Sept. 9 meeting in Vienna."

Increased cash flowing into the Middle East is feeding sharp increases in inflation, but that may only be a small part of the reason behind the motivation to do nothing with fuel supplies.

Saudi Arabia and its neighbors know that extremism continues to grow in the region. They are also not geographically far removed from the trouble in Georgia. The nation, which is at "war" with Russia, is close to the norther border of Iran. In other words, there is more than one threat to stability in the region.

The United States keeps a tremendous military force in and around Saudi Arabia. The kingdom may not want to go any further than it has to alienate America.

Douglas A. McIntyre is an editor at 247wallst.com.

Saudi Arabia may save West at OPEC meeting originally appeared on BloggingStocks on Sun, 07 Sep 2008 14:10:00 EST. Please see our terms for use of feeds.

Banana company Chiquita Brands International Inc. (NYSE:CQB) settled its suit with the U.S. Justice Department. Chiquita agreed to pay a $25 million fine for aiding and abetting terrorists in Colombia. The DOJ alleges that Chiquita paid $1.7 million over a 7 year period, 1997-2004, to the right-wing United Self-Defense Forces as well as to the left-wing Revolutionary Armed Forces to protect Chiquita operations and employees. Chiquita executives said that the payments were to ensure the safety of its workforce and were not meant to take sides in Colombia's civil conflict nor support Colombia's cocaine trade. Unable to secure its operations in Colombia despite paying off both sides, Chiquita sold its Colombian operations in June 2004. It is worth asking where all the U.S. aid to Colombia went and why none of it seems to have been used to protect American commercial interests in Colombia. Perhaps its easier to fault the company rather than U.S. policy.

But being accused of consorting with terrorists was not the only bad news for Chiquita. 2006 was a bad year for bananas. In recently released fourth-quarter 2006 earnings, Chiquita experienced a 4% growth in its "European banana regime," despite no one knowing quite what that phrase means. Net sales were up 9% to $1.1 billion, yet the company suffered an operating loss of $34 million, including the $25 million set aside to pay the fine. Banana sales were up 11% to $495 million, but nonetheless showed an oeprating loss of $26 million for Q4 2006. Fresh Cut packaged salad sales were flat at $256 million, but showed a $9 million operating loss over consumer concerns about tainted spinach. Not a good year!

Chiquita Banana slips on its own peel originally appeared on BloggingStocks on Fri, 16 Mar 2007 14:03:00 EST. Please see our terms for use of feeds.

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• Genesis Microchip Inc (NASDAQ: GNSS) was downgraded to Sell from Hold at Roth Capital, citing the loss of significant market share, and to Market Weight from Overweight at Thomas Weisel following the company's disappointing earnings report.

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• Following fourth-quarter results and reduced guidance, Friedman Billings downgraded shares of Phelps Dodge Corp (NYSE: PD) to Market Perform from Outperform with a $125 target.

Analyst downgrades 1-30-07: Columbia Sportswear was left out in the cold originally appeared on BloggingStocks on Tue, 30 Jan 2007 10:40:00 EST. Please see our terms for use of feeds.