19 May
Posted by Jacob Stewart as Credit Cards Guide
Hewlett-Packard’s reduced full-year profit hurt the Dow on Tuesday as the stock lost more than 7%, but strength in JP Morgan and the bank exchange traded funds helped offset some of the damage.
Technology ETFs felt a headwind Tuesday from Hewlett-Packard.
However, an ETF following large tech stocks listed on the Nasdaq closed slightly positive Tuesday while the major indicators slipped and traders keyed on Dell earnings and slowing momentum in Apple shares.
Bank ETFs were higher Tuesday in the face of a down market, benefiting from a 2% rise in JP Morgan as the company held its annual shareholder meeting. Chief Executive Jamie Dimon told shareholders the economy could be at the beginning of a self-sustaining recovery, Reuters reported. The JP Morgan CEO also apologized for mistakes the bank made in handling foreclosures, Bloomberg reported. SPDR KBW Bank ETF closed up 1.63% on Tuesday. JP Morgan is the top holding at 8.6% of the portfolio.
Stocks have been under pressure this week as the Dow shed more than 100 points Tuesday, but so far ETFs that profit from higher market volatility aren’t signaling widespread investor fear. How
The Houston Business Journal handed out the 2011 Best CFO Awards on Friday at the Wortham Center.
Ten corporate financial stewards were honored Friday as recipients of the Houston Business Journal’s 2011 Best CFO of the Year Awards.
Dana Johnson, senior vice president and chief economist at Comerica Inc. was keynote speaker for the fifth-annual awards event at the Wortham Center that wrapped up the four-day HBJ Celebrate Enterprise conference and forum.
Johnson, who retires at the end of May, spoke about the near-term economic outlook for the U.S., saying that problems persist, such as falling house prices, energy prices undermining consumer spending and the state and local government sectors facing budget deficits.
“Those who are unemployed will have an easier time getting employed,” he said. “But, it will be quite a while to get the economy going again, and the biggest missing element is home building recovery.”
The energy sector is still a source of strength for Houston, he said, but pointed out that the recovery in Houston and Texas has been led by manufacturing.
Even though Texas experienced a moderate recession compared to other states, Johnson said it still created fiscal pressures.
“A lot of people are moving to the state, so it will be an achievement to absorb the people moving in,” he said. “It’s the dem
16 May
Posted by Dustin Ramirez as Credit Cards Articles
It wasnt supposed to be this way. The CARD Act was going to remove temptation from college kids by sweeping banks promotions from campuses, banning freebies, and preventing those younger than 21 years old from making credit card applications without an adult co-signer unless they had their own income.
Credit card companies go back to school
Those should have been valuable protections, but, as The Wall Street Journal revealed May 7, theyre not. Whilst abiding by the strict letter of the law, credit card companies are successfully circumventing all three regulations. As law Professor Jim Hawkins of the University of Houston told The Journal, a ton of loopholes allow issuers to undermine the spirit of the act.
Yes, card issuers no longer have stalls on campus, tempting students to sign credit card applications with free slices of pizza or T-shirts or Frisbees. The stalls have moved, sometimes just yards off-campus, to paths that students use heavily. Or they remain on campus but market only checking accounts. Then, anyone who signs up for one of those check accounts is likely to start receiving credit card offers from their new bank through the mail.
15 May
Posted by Dustin Ramirez as Credit Cards Articles
Possibly the world’s most expensive Starbucks drink at $20.65
One of the great things about credit card rewards is that they allow you to indulge in things you normally would never buy yourself. For me, that guilty indulgence is Starbucks. I love their burnt-tasting overpriced cup of Joe.
However despite my love for it, I would never actually pay for it. A four-dollar drink x 365 days= $1,460 per year! Think about it… that equals around $2,500 pre-tax income for many people. Luckily thanks to my Discover More, I get to enjoy Starbucks all the time without actually paying for it. Here’s how I do it…
15 May
Posted by Jacob Stewart as Credit Cards Guide
U.S. Sen. Michael Bennet, D-Colo.
Failure by Congress to raise the national debt ceiling would lead to a “catastrophic” default, scaring off investors and ruining the nation’s economy, U.S. Treasury Secretary Timothy Geithner told U.S. Sen. Michael Bennet of Colorado in a letter.
“Failure to raise the debt limit would force the United States to default on [its] obligations, such as payments to our servicemembers, citizens, investors, and businesses,” said Geithner’s letter, sent Friday and released Saturday. “This would be an unprecedented event in American history. A default would inflict catastrophic, far-reaching damage on our nation’s economy, significantly reducing growth, and increasing unemployment.”
A default, Geithner added, “would call into question, for the first time, the full faith and credit of the U.S. government. As a result, investors in the United States and around the world would be less likely to lend us money in the future.”
The Treasury chief wrote to Bennet, D-Colo., in response to a request from the senator for an estimate of the consequences of failing to raise the statutory debt limit.
Geithner has said that the U.S.