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Monthly Archives January 2010

December 2009 Mass Layoffs Lowest Since July 2008

In December, employers took 1,726 mass layoff actions involving 153,127 workers. Both figures were at their lowest levels since July 2008. Manufacturing events and initial claims both decreased in December to 433 and 44,072, respectively. Annual totals for 2009 mass layoff events, at 28,423, and initial claims, at 2,847,065, both were at program highs. Share [...]

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Posted 27 January 2010 † Steven D. Stern § General ‡ Comments Off °

New home sales fell 7.6 Percent in December; 2010 Sales Down 27 Percent

New home sales  fell 7.6 percent last month, capping the industry’s weakest year on record. The Commerce Department reported that December sales fell to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December. The results were [...]

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Posted 27 January 2010 † Steven D. Stern § General ‡ Comments Off °

Consumer Confidence Index Climbs in January; Home Prices Up Slightly

Americans’ confidence in the economy improved modestly in January for the third straight month, as they begin to feel slightly better about business conditions and the job picture, according to a survey released today. The Conference Board’s Consumer Confidence Index increased to 55.9 — the highest in more than a year but still relatively gloomy. [...]

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Posted 26 January 2010 † Steven D. Stern § General ‡ Comments Off °

PR and the Recession

Recession. It is deep and broad and more likely than not to grow before we see a plateau and the beginnings of a recovery. Unemployment, nationally and in Nevada, is growing.  In Nevada, December unemployment exceed 13 percent and nationally, the jobless rate stands at 10 percent. Consumer spending is increasingly frugal and discerning and [...]

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Posted 22 January 2010 † Steven D. Stern § General ‡ Comments Off °

Nevada’s unemployment rate jumped to to 13 percent in December; Second highest in the nation

The jobless rate in December rose sharply in to 13 percent in December, from 12.3 percent November and was slightly below the record 13.3 percent posted in September, well above the ten percent national rate reported earlier this month, according to a report on state and regional unemployment issued by the Bureau of Labor Statistics [...]

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Posted 22 January 2010 † Steven D. Stern § General ‡ Comments Off °

Western Alliance Bancorp Narrow Q4 Loss: net loss per common share of $0.41 for the quarter versus $3.94 net loss per share a year ago

(From the WAL News Release) Western Alliance Bancorporation reported a net loss of $26.9 million in the fourth quarter 2009, including a reserve build of $4.4 million, net losses on the sale of repossessed assets of $5.1 million, goodwill impairment of $4.1 million and net losses from securities activities of $3.6 million. The goodwill impairment [...]

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Posted 21 January 2010 † Steven D. Stern § General ‡ Comments Off °
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