“U.S. recouping lost wealth - The Post and Courier” plus 3 more |
- U.S. recouping lost wealth - The Post and Courier
- Southridge Investment Group is Honored by Small Business Commerce Association as Ridgefield Best of Business - PRWeb
- Obama says it's time to vote on health care plan - Tulsa World
- Steve Madden to Participate in CL King's Best Ideas ... - Newsblaze.com
| U.S. recouping lost wealth - The Post and Courier Posted: 11 Mar 2010 09:08 PM PST WASHINGTON -- Americans are recovering their shrunken wealth, gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight, and it was less than in the previous two quarters.
AP Unlike past rebounds led by ordinary shoppers, such as this group of bargain-hunters in Chicago, the latest growth in the U.S. economy has been fueled more by spending from businesses, foreigners and government stimulus. The Federal Reserve said Thursday that net worth rose 1.3 percent in the fourth quarter to $54.2 trillion. It marked the third straight quarter of gains, but economists said consumers would need a stronger and more prolonged increase in their wealth to persuade them to ratchet up spending. Net worth had risen by a more robust 4.5 percent in the second quarter of 2009 and an even faster 5.5 percent in the third quarter. Net worth is the value of assets such as homes, checking accounts and investments, minus debts like mortgages and credit cards. Even with the gain, Americans' net worth would have to rise an additional 21 percent just to get back to its pre-recession peak of $65.9 trillion. That illustrates Americans' vast loss of wealth from the worst downturn since the 1930s. Growth in stock portfolios delivered the biggest lift to net worth in the October-to-December period. The value of stocks rose by nearly 4 percent to $7.7 trillion. Higher home prices helped a bit -- the value of real-estate holdings edged up 0.2 percent. During the recession, which began in December 2007, household net worth had plunged as low as $48.5 trillion in the first quarter of 2009. Stock holdings and home values nose-dived. As their net worth evaporated, Americans felt less inclined to spend. For all of last year, consumer spending dropped 0.6 percent. This year, as wealth, the economy and financial conditions slowly recover, consumer spending is projected to grow around a modest 2.2 percent, according to the National Association for Business Economics. By contrast, in 1983, when the economy was recovering from the 1981-82 recession, consumer spending surged 5.7 percent. Unlike past rebounds led by ordinary shoppers, this one so far has been driven more by spending from businesses, foreigners and, until it runs out, government stimulus. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| Posted: 12 Mar 2010 12:07 AM PST | Southridge Investment Group has been selected for the 2009 Best of Business Award in the Personal service agents, brokers, and bureaus category by the Small Business Commerce Association (SBCA). Ridgefield, CT (PRWEB) March 12, 2010 -- Southridge Investment Group has been selected for the 2009 Best of Business Award in the Personal service agents, brokers, and bureaus category by the Small Business Commerce Association (SBCA). "We are thrilled to be honored by the SBCA with this prestigious award. Southridge continually strives to serve its clients and the community with the highest level of dedication and integrity in all its business activities," said Stephen Hicks, founding principal of Southridge LLC. The SBCA 2009 Award Program recognizes the top 5% of small businesses throughout the country. Using statistical research and consumer feedback, the SBCA identifies companies that we believe have demonstrated what makes small businesses a vital part of the American economy. The selection committee chooses the award winners from nominees based off statistical research and also information taken from monthly surveys administered by the SBCA, a review of consumer rankings, and other consumer reports. Award winners are a valuable asset to their community and exemplify what makes small businesses great. Southridge seeks strategic investment opportunities to provide advisory services in emerging growth areas, domestically and in international markets. Southridge has successfully participated in financings in markets ranging from the United Kingdom, to companies based in China and Australia and others listed on United States domestic exchanges. Southridge Investment Group LLC Through its full-service financial approach in dealing with clients, the firm is able to build long-term partnerships and financial commitments with its clients. www.southridgellc.com. ### Post Comment: Bookmark - Del.icio.us | Furl It | Technorati | Ask | MyWeb | Propeller | Live Bookmarks | Newsvine | TailRank | Reddit | Slashdot | Digg | Stumbleupon | Google Bookmarks | Sphere | Blink It | Spurl Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Obama says it's time to vote on health care plan - Tulsa World Posted: 11 Mar 2010 12:29 AM PST ST. CHARLES, Mo. — President Barack Obama denounced waste, inefficiency and downright fraud in the government's health care system on Wednesday as he sought to rally public support for his revamped overhaul plan.
"Improper payments cost taxpayers almost $100 billion last year alone," Obama said at a rally in this St. Louis suburb. He said such payments amounted to more than is spent on the Education Department and the Small Business Administration combined, and that if there was a "Department of Improper Payments" it would be "one of the largest agencies in the government." Obama pressed Congress to act on the health care overhaul measure without further delay. "I believe that Congress owes the American people a final up or down vote on health care reform. The time for talk is over. It's time to vote," he said, his voice rising. The White House wants Congress to act on the legislation by March 18, when the president leaves on a trip to Indonesia and Australia, a timetable that may be hard for Congress to meet. "What we're proposing is a commonsense approach to protecting you from insurance company abuses and saving you money," Obama said in the campaign-style appearance, his second health care speech outside Washington in a week, with another one scheduled in Ohio on Monday. Obama cited abuses in the government-run Medicare and Medicaid and in other federal health programs, noting "payments sent to the wrong person, sent for the wrong reason, sent in the wrong amount."Sometimes "they're innocent errors" and other times deliberate fraud "by scam artists and fly-by-night" operators, Obama said. He spoke after Health and Human Services Secretary Kathleen Sebelius, the nation's top health care official, challenged insurers to join Obama's push to overhaul the medical system, arguing that if the effort fails it will hurt them as well as other Americans. She told insurers in a speech earlier Wednesday in Washington that if the overhaul fails, premiums will continue to rise and employers will cancel coverage. She said the industry may make money initially, but "this kind of short-term thinking won't work in the long run for the American people or our health care system. It won't work for you." Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| Steve Madden to Participate in CL King's Best Ideas ... - Newsblaze.com Posted: 11 Mar 2010 01:01 PM PST LONG ISLAND CITY, N.Y. - (BUSINESS WIRE) - Steve Madden (Nasdaq: SHOO), a leading designer and marketer of fashion footwear and accessories for women, men and children, today announced that it will participate in CL King's West Coast Best Ideas Conference, to be held on Thursday, March 18, 2010, at the Omni San Francisco Hotel in San Francisco, CA. The 40-minute presentation and Q&A session, which will be webcast live, begins at 1:20pm Pacific Time. Edward Rosenfeld, Chairman and CEO, will be presenting for the company. About Steve Madden: Steve Madden designs, sources, markets, and sells fashion-forward footwear and accessories for women, men and children. The shoes and accessories are sold through 85 company-owned stores (including the Company's online store) as well as department stores, and apparel, footwear, and accessories specialty stores. The Company licenses certain of its brands to third parties for the marketing and sale of certain products, including for ready-to-wear, outerwear, cold weather accessories, eyewear, hosiery, and bedding and bath products. The Company is the licensee of various brands including Olsenboye and Fabulosity for footwear, handbags and belts, Elizabeth and James and l.e.i. for footwear, and Betsey Johnson and Daisy Fuentes for handbags and belts.
Investors: Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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