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Monthly Archives September 2009

Treasury Secretary Timothy F. Geithner Testimony House Financial Services Committee: Financial Regulatory Reform

Chairman Frank, Ranking Member Bachus, members of the House Financial Services Committee, I am pleased to be back before you today as our Administration and this Congress work toward comprehensive reform of our financial regulatory system. The Chairman has set an ambitious schedule of hearings that will lead to your markup of legislation and facilitate [...]

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Posted 23 September 2009 † Steven D. Stern § General ‡ Comments Off °

August 2009 Mass Layoffs Increased Sharply

Employers took 2,690 mass layoff actions in August that resulted in the separation of 259,307 workers,seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month,the U.S. Bureau of Labor Statistics reported today. Each action involved at least 50 persons from a single employer. The number of mass layoff events in August [...]

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Posted 23 September 2009 † Steven D. Stern § General ‡ Comments Off °

Random Thoughts on Public Relations

“All politics is local,” Thomas “Tip” O’Neill, the longtime Speaker of the House in the U.S. Congress. How well is a company served in public relations when an account manager is not local and perhaps thousands of miles or more away? Rarely do non-local public relations firms have the knowledge of, or relationships with decision [...]

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Posted 22 September 2009 † Steven D. Stern § General ‡ Comments Off °

U.S. Mortgage Delinquencies Set Record

High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, according to Equifax Inc, the credit reporting company. Among U.S. homeowners with mortgages, a record 7.58 percent were at least 30 days late on payments in August, up from 7.32 percent in July, according [...]

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Posted 21 September 2009 † Steven D. Stern § General ‡ Comments Off °

The Conference Board Consumer Confidence Index Bounces Back

The Conference Board Consumer Confidence Index, which had retreated in July, rebounded in August. The Index now stands at 54.1 (1985=100), up from 47.4 in July. The Present Situation Index increased slightly to 24.9 from 23.3 last month. The Expectations Index improved to 73.5 from 63.4 in July. The Consumer Confidence Survey is based on [...]

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Posted 21 September 2009 † Steven D. Stern § General ‡ Comments Off °

Nevada unemployment jumps to 13.2 percent; Second highest in nation

Unemployment in Nevada in August rose to a record high of 13.2 percent, or 183,000 jobless, in August from July when it was 12.5 percent. In Las Vegas, unemployment spiked to 13.4 percent from 13.1 percent. Unemployment in Nevada is the second highest in the nation, behind Michigan a 15.2 percent and ahead Rhode Island, 12.8 [...]

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Posted 18 September 2009 † Steven D. Stern § General ‡ Comments Off °
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