Archive for the ‘Economic Buzz’ Category

Upbeat Business and Economic News

Saturday, January 16th, 2010

Think the economic picture out there is grim? If you’re looking for a job you may have a rough road to hoe for the next few months – but I’ve talked with a number of women home-based business owners who’ve whispered to me, “Denise, I can’t believe how terrific my sales have been. It’s like I’ve got new customers coming out of the woodwork.”

Consumers have held back for well over a year. There is serious pent-up demand for all kinds of products and services and if you can get beyond your prospective customer’s initial hesitation and show ‘em why what you offer is a great value – there are a lot of people ready to get on with life, proclaim this recession personally over – and buy from you.

Just check out these article leads I discovered in a quick online search of economic news:

DETROIT (Reuters) – Daimler CEO Dieter Zetsche said on Monday that he is cautiously optimistic about the world automotive market and saw a 3-4 percent increase in unit sales this year. Zetsche told journalists at the Detroit Auto Show that he saw the Chinese market posting single-digit growth in 2010, while Daimler’s own sales in that market would grow faster, he said.

HERKIMER, N.Y. – As a new year dawns, Herkimer County Chamber of Commerce Executive Director John Scarano said he is optimistic about the future of local businesses. “We’ve had a few rough years,” said Scarano. “Our businesses — especially small businesses — have reacted better than other businesses in the country. We know how to adapt and survive. They’ve been around for quite a while.” According to the state Department of Labor Web site, the unemployment rate declined to 8.6 percent in November — below the national number of 10 percent.

NEW YORK (Reuters) – The next 12 months hold much opportunity for investors in the U.S. chemical industry as its members hope to ride a wave of cautious economic optimism and capitalize on growing consumer confidence. After two years of frenzied stock swings, debt downgrades, and slumping revenue and profit, some of the industry’s biggest players are charily confident that a long-awaited economic uptick is coming this year.

SAN JOSE, CA – Small-business owners throughout Silicon Valley express a reserved, low-key sense of confidence as they enter 2010. That’s a dramatic contrast to how they felt a year ago. “I’m cautiously optimistic,” said Andy Meade, president of Meade Construction Group Inc., a San Jose-based general contracting firm specializing in high-tech and health care projects. “When we entered 2009, I’d say the general feeling was fear and pessimism.”

CHICAGO BUSINESS — Is business looking up? Are execs feeling optimistic? OfficeMax is banking that the answer to both questions is yes, and its enlisted Fast Company and BusinessWeek on its optimism crusade. The office supplies retailer is launching a new brand campaign, its first since 2004, under the banner “Good News for Business.” The comprehensive effort represents Office Max’s biggest marketing investment in four years, said Bob Thacker, senior VP-marketing and advertising. “It’s substantial,” said Mr. Thacker. “We feel it’s time to start focusing on the 90% of the population that is working. That’s not to minimize the 10% that aren’t. But for business to thrive, we have to get beyond fear and focus on hope.”

LOUISVILLE, KY – Owners of small and medium-sized businesses are increasingly optimistic about future business prospects for 2010, according to a survey conducted by City Business Journals Network. The network is owned by Charlotte, N.C.-based American City Business Journals Inc., owner of Business First of Louisville.

Three Positive Economic News Headlines

Friday, October 9th, 2009

All three of the headlines below were released Thursday October 8th, 2009. This is good news for women business owners who focus on success as we go into the final stretch of 2009 and look to next year.

1) NEW YORK — The stock market resumed its rally after getting encouraging readings on two of the best gauges of the economy’s health: consumer spending and corporate profits.

The Dow Jones industrial average rose 61 points Thursday after falling modestly the day before. The gains added to the market’s already steep climb for the week. Improving signals about the economy pushed the Dow up 244 points Monday and Tuesday, its best back-to-back advance since July.

Traders pounced on news that retailers last month had their first sales gains in more than a year. A closely watched gauge of sales at major retailers rose 0.1 percent for September. While still tepid, it was the first monthly rise in the International Council of Shopping Centers-Goldman Sachs tally since July 2008.

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2) WASHINGTON (AP) – The number of newly laid-off Americans filing first-time claims for jobless benefits fell to the lowest level since early January, as layoffs eased a bit amid a fledgling economic recovery.

The fourth drop in new claims in five weeks is a sign the labor market is slowly healing. But employers are reluctant to hire new workers and the unemployment rate is expected to keep climbing well into next year.

The Labor Department said Thursday that new claims for unemployment insurance dropped last week to a seasonally adjusted 521,000, better than analysts expected and down from 554,000 the previous week.

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3) NEW YORK (AP) – The nation’s stores saw their first sales gain in 14 months in September, a sign of life from shoppers that fuels some hope for the holiday shopping season.

A late Labor Day and delayed school openings helped boost back-to-school sales in September. And stores’ figures are looking better as they are compared last September when spending plummeted amid the ballooning financial meltdown.

But analysts dissecting the figures say they feel encouraged by Thursday’s reports even as they acknowledge that business still remains weak and consumers tight-fisted.

Denise Michaels is a marketing mentor, trainer and author of the business bestseller, “Testosterone-Free Marketing.” Find out more about her at her websites below:

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The American Dream: Does it Still Work?

Sunday, September 27th, 2009

By Denise Michaels, Author, “Testosterone-Free Marketing”

My husband Ernie and I live in Las Vegas which is absolutely in the depths of the housing slump. Since we had the highest highs – we’ve also had the most precipitous drop. Real estate appears poised to go up now – but it’s been a pretty long, fast, slide downward the last couple years. There’s a local show on radio once a week on the state of the housing and real estate market.

Recently a guest on the show remarked perhaps the idea of owning a home with a 30-year mortgage as “the American Dream” doesn’t set well with our changing, shifting lifestyles and careers anymore. After all, that model came into vogue back in the days when many Americans worked 30-40 years for the same company.

Now, not only don’t many of us work for the same company throughout our career. More and more of us are entrepreneurial, home-based business owners and don’t work for any company – like myself. At times entrepreneurs have gaps in their income that don’t fit with a big mortgage every month. That’s become the new norm when it comes to work. And as we’re digging out of this recession I believe we’re going to have an unprecedented wave of entrepreneurism. But mortgages are still like an albatross around the neck whether a person’s income goes up or down. Doesn’t quite work.

My husband and I own our home. We’ve been here almost eight years. We bought when the market was down right after 9/11. We didn’t do anything fancy or clever – just a basic, 30 year fixed mortgage. We also chose to live in a home that was below our means. Not very sexy. Unlike many of our friends and family who bought as much home as they could possibly qualify for. It’s decorated elegantly – but in size it’s modest. Our mortgage payment is equivalent to what many pay to rent a basic two bedroom apartment.

We have friends who’ve lost their fancy homes the last two years for a myriad of reasons. One couple we know – they’re both entreprenuers. The kids are close to grown and almost launched. He still works his full-time job in addition to his business. They live in a gorgeous home in a very upscale area but the income from their respective home-based businesses doesn’t really cut the mustard when it comes to the cashflow needed to live in that house. They know and accept sagely it’ll be a couple years before it flips around. They moved in four years ago when the market was at the top of it’s lofty peak. She recently whispered to me they’re trying to short sell the house and move into something much smaller. I told her about our smaller by half home and she sighed, “I wish we’d done that.”

We also have family members who are positively cash strapped to a massive mortgage. They too bought at the top of the market. She wasn’t working because she’d just had a baby a few months before they bought the house. She’s back to work now, but because of the high mortgage payments when their adjustable mortgage went up – she doesn’t really have the choice to be home with her kids.

We chose to live carefully and set aside the difference and we’ve invested in ourselves and in our own businesses. As a result, we’ve created a different kind of wealth. Part of it is money – but even more important is the knowledge that our security is all about our ability to create more money as we travel through life.

I don’t believe in relying on a specific theory or idea about money or security. None of them seem to hold water the way they did 20 years ago. The tectonic plates are shifting and the world is changing too fast to stay “married” to one idea or notion anymore. We’re shifting right along with it – and enjoying the journey.

PS: Visit me online at http://www.EmpowerUAcademy.com for great ideas to help you in business and in life

Home Prices on the Rise – Including Foreclosures

Saturday, September 19th, 2009

DMM: I got this information from a local real estate blog. I’ve included the URL at the bottom. It was dated September 3, 2009 so it’s fairly recent. Las Vegas, where Ernie and I live, has been at the epicenter of the real estate market meltdown. The reason, is because we’ve had amazing growth for about 20 years now and the highest incidence of predatory lending in the country. So the region fell the hardest from its too lofty perch of a few years ago.

We talked with a Realtor while at a party last weekend. She said the massive inventory of foreclosures is a thing of the past. Houses are still selling for much less than a couple years ago. But they’re inching up as demand is about to outstrip the available supply. If real estate is coming back here in Vegas where it sunk the lowest – can your part of the country be far behind?

Here’s the blog post:

Could this be true? You betcha!! Homes coming on the market are priced to sell and are all too often being bid up in price. Just today I submitted an offer for a home that is $37 a sq. ft. WOW!! I’ll bet a dollar there will be a bidding war on the property. Even if the home sells for $50 a sq. ft. that is less than what it cost to build the home.

Inventory is moving super fast! Our office listed a property and the seller was worried it would take more than 3 months to sell. Was he wrong, there was a bonafide offer on the table in less than 24 hours and in escrow in 2 days.If you are serious about buying in Las Vegas, now is the time!!

URL: http://www.lasvegaswebofhomes.com/2009/09/

Economic Surge Good News for Women in Biz

Saturday, September 12th, 2009

DMM: Stocks, manufacturing and housing up! Business is on the rise. More people working means more out there to happily say yes to what you market and sell. Get out there with confidence, ladies. The economy is coming back! Whoooo-hoooo! But I digress. Read the article and smile.

This article is from SeekingAlpha.com

The immortal words of Gomer Pyle rang out in business headline after headline this week, “Surprise, Surprise, Surprise!” Women business owners take note:

First the banking sector became awash in surprisingly good news. Four of the US top banks smashed all earnings estimates and posted collective net profits of $13.6B for the second quarter.

Bank of America (BAC) posted a profit of $3.2B
Citigroup(C): $4.3B
Goldman Sachs (GS): $3.4B
JP Morgan Chase (JPM): $2.7B

The technology sector followed with Intel’s (INTC) surprise. It posted its best quarter over quarter sales increase since 1988. Further, the chip leader formally asserted that this current quarter ending in September, will be significantly stronger than any analysts had even dreamed of. IBM (IBM) also added its vote of Q3 confidence later in the week.

And there was more surprisingly good news in the jobs data Thursday. The number of initial claims in the week ending July 11 fell 47,000 to 522,000 – the lowest level since early January. The data for continuing claims also fell by 642,000 — the largest drop on record! This huge downward surprise even pulled the four-week moving average of these continuing unemployment claims down by 110,250.

And then on Friday, the housing market chimed in with surprises of its own. Contractors started building single-family homes at the fastest rate in 4-1/2 years. “The bond market was completely caught off guard by the increase in housing starts,” said Jane Caron, chief economic strategist at Dwight Asset Management in Burlington VT.

And stocks surprised most strategists as well. Just last week many had forecast stocks to continue their recent declines (or at least continue to move sideways). Q2 earnings jitters dominated the news. But as markets closed on Friday, many traders were left scratching their heads as the Dow rocketed to its best weekly gain since March, closing within easy striking distance of the 9000 mark.

But perhaps the mother of all surprises this week came from the bear of all bears, Doctor Doom, Nouriel Roubini. Just last week the ultra depressing economic prognosticator wrote an article “Brown Manure, Not Green Shoots.”

But this week in a significant flip, flop, Roubini actually stated, “the worst of the worst is behind us.” (He later of course whined that his words were taken out of context.)

Gomer Pyle frequently exasperated his immediate supervisor Sergeant Carter with the Private’s Pollyanna-style demeanor. With positive economic surprises everywhere, it is no surprise that Roubini feels a bit frustrated as well.

This article was copied and pasted from http://www.seekingalpha.com

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Monster US Jobs Index Soars in August

Friday, September 4th, 2009

NEW YORK (Reuters) – A monthly gauge of U.S. online labor demand soared in August at its fastest pace in four years, indicating steadier footing for nationwide labor demand, a private research group said on Thursday, September 3rd.

Monster Worldwide Inc, an online careers and recruiting firm, said its employment index surged to 121 in August, up 6 percent from 114 in July.

It was the biggest monthly increase the index has seen since August 2005.

The index was down 24 percent from a reading of 159 a year ago, marking the most moderate year-over-year decline in 2009.

Though job openings posted online are at their lowest in almost two and a half years, there are signs employment may turn around in the near term.

“The significant jump in the Monster Employment Index in August offers encouraging signs of improvement in the U.S. economy with the demand for managers and professionals as well as sales and office workers picking up in time for the fall hiring season,” said Jesse Harriott, senior vice president at Monster.

The index rose to its highest since February, and contracted on a yearly basis at the slowest rate since December 2008, Harriott added.

Labor demand in the retail, administrative and financial industries showed the strongest growth, and a recent rise in investor confidence sparked increased opportunities in company management.

By occupation, employment in the arts design, entertainment, sports and media sectors picked up in August after hitting historic lows, while demand for healthcare, community and personal care services jobs suffered for the second straight month.

The Monster Employment index is a monthly analysis based on a selection of corporate career sites and job boards. The margin of error is approximately plus or minus 1 percent.

This article came from http://www.PositiveEconomicNews.com