Wholesale Inventories Down In June
Wholesale inventories in June 2009 declined 1.7% from the prior month and decreased 10.3% from the prior year, to $393.9 billion. Sales increased 0.4% from May but fell 21.0% from June 2008, to $313.1 billion.
Las Vegas Room Base of 67,000 High End Rooms Will Have 15,000 Rooms Added in Near Future Driving EBITDA Down According to All Star Analysts
The following is an excerpt from a Wall Street Transcript interview with Joe Greff of JP Morgan and Andrew Zarnett of Deutsche Bank discuss the outlook for the sector and for investors.
JOE GREFF is a Managing Director in the Equity Research Department at J.P. Morgan.
ANDREW S. ZARNETT, Managing Director, currently serves as Deutsche Bank’s Gaming, [...]
Q2 Productivity Up Sharply
Productivity surged in the spring by the largest amount in almost six years while labor costs plunged at the fastest pace in nine years. However, the increase partially reflected annual benchmark revisions of the data.
The Department of Labor reported today that productivity, the amount of output per hour of work, rose at an annual rate of [...]
LVRJ: Experts suggest community banks face host of problems regardless of when economy improves
Long rebound for smaller lenders
By JOHN G. EDWARDS
LAS VEGAS REVIEW-JOURNALBY JOHN G. EDWARDS * LAS VEGAS REVIEW-JOURNAL
In this banking climate, some community banks just can’t win, no matter when or how the economy improves, analysts say.
It won’t be a total bloodbath for these banks in Southern Nevada, but it might come close.
Some will find themselves [...]
July Unemployment and Job Losses Narrowed Slightly in July
U.S. employers cut 247,000 jobs in July, far less than expected and the least a year with the unemployment rate narrowing slightly to 9.4 percent from 9.5 percent in June, the Department of Labor reported today. There were 14.5 million out of work in July.
If laid-off workers who have given up looking for new jobs [...]
Factory Orders Rose Again in June
Manufacturers Shipments, Inventories, and Orders rose in June for the fourth time in five months, an unexpected gain and the latest sign that the ailing manufacturing sector is recovering.
The Commerce Department reported that factory orders rose 0.4 percent, after a 1.1 percent increase in May.
A 2.7 percent rise in orders for nondurable goods, such as [...]
One in five U.S. mortgage borrowers are underwater; Nevada among the most distressed
One in five U.S. homeowners with mortgages owe more to their lenders than their properties are worth, and the rate will increase as housing values drop in states that have so far avoided the worst of the crisis, a new study shows.
About 8.31 million properties had negative equity at the end of 2008, up 9 [...]
U.S. Treasury and Federal Reserve Board Announce Launch of Term Asset-Backed Securities Loan Facility (TALF)
In carrying out the Financial Stability Plan, the Department of the Treasury and the Federal Reserve Board are announcing the launch of the Term Asset-Backed Securities Loan Facility (TALF), a component of the Consumer and Business Lending Initiative (CBLI). The TALF has the potential to generate up to $1 trillion of lending for businesses and [...]
January Construction Spending Down 3.3 Percent
Construction spending in January 2009 fell 3.3% from the prior month and declined 9.1% from the prior year, to $986.2 billion.
Feds Add To AIG Bailout
The U.S. Treasury Department and the Federal Reserve Board today announced a restructuring of the government’s assistance to AIG in order to stabilize this systemically important company in a manner that best protects the US taxpayer. Specifically, the government’s restructuring is designed to enhance the company’s capital and liquidity in order to facilitate the orderly [...]