From the category archives:

News

ADP: Small Employers May Be Signaling Recovery
Automatic Data Processing’s (ADP’s ) sales of services to companies with 50 employees or fewer have increased since September, ADP Chief Executive Officer Gary Butler told Bloomberg BusinessWeek in an interview on Mar. 15. “It’s a clear indication that small business is coming back” and will help lead the recovery, Butler said. “You don’t put in [...]

Economy Grows At Fastest Rate Since 2003
THIS IS GOOD NEWS IF THE NUMBERS HOLD UP – The 5.7 percent annual growth rate in the fourth quarter was the fastest pace since 2003. The Commerce Department report Friday is the strongest evidence to date that the recession ended last year. The White House immediately reacted with cautious praise. Still, economists expect growth to [...]

What Obama Said About Small Business In The State of The Union Address
So tonight, I’m proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. I’m also proposing a new small business tax credit -– one that will go to over one million small businesses who hire [...]
Bernanke Wins New Term
NOT SURE IF THIS IS GOOD OR BAD - Ben Bernanke won the backing of the Senate for a second four-year term as chairman of the Federal Reserve by a comfortable margin Thursday. Even with that storm behind him, Mr. Bernanke faces formidable political and economic challenges made tougher by the bruising confirmation fight. Weeks of [...]

Nancy Pelosi Doesn't Have The Votes
THIS SEEMS TO BE GOOD NEWS - As top Democrats cast doubt for a way to get health care back on track, House Speaker Nancy Pelosi took one option off the table Thursday, saying her caucus doesn’t have the stomach to pass the Senate bill unless changes are made. ”In its present form, without any change, I [...]
New Jobless Claims Rise More Than Expected
The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week, as the job market recovers at a slow and uneven pace. The Labor Department said Thursday that initial claims for unemployment insurance rose by 36,000 to a seasonally adjusted 482,000. Wall Street economists had expected a small drop. A Labor Department analyst [...]
Obama Earthquake Rocks Wall Street
Details of Obama’s new proposal are still hard to come by but this looks huge. Sources inside major financial institutions are saying that they are scrambling to see if they will have to spin off operations, change their regulatory status, and perhaps find new business models. Here’s the AP’s report:

App Store Passes Two Billion Downloads
From Businessweek: Apple just announced that the two billion mark has been passed for downloads of programs from the iTunes App Store. More remarkably, the rate of downloads “continues to accelerate,” says Steve Jobs in the press release. He says that there have been more than half a billion downloads this quarter alone.
M&A Activity Positive Sign For The Economy
Stocks scored broad gains Monday even though late profit taking trimmed the advance. The market was aided a flurry of merger and acquisition activity. On Monday, the Dow Jones industrial average finished higher by 124.17 points, or 1.28%, at 9,789.36. The Standard & Poor’s 500-stock index was up 18.60 points, or 1.78%, at 1,062.98. The Nasdaq [...]
Financial Crisis Manual
Davis Polk has published a free, 279-page Financial Crisis Manual: The Financial Crisis Manual is a comprehensive review of financial crisis laws as they apply to US financial institutions, covering the major Federal Reserve programs, Treasury’s capital investments and warrants, the FDIC’s debt guarantees, the public-private investment program, the enforcement landscape and executive compensation. The Manual, which [...]

The Question On Everyones Mind
From the WSJ: “The Federal Reserve on Wednesday acknowledged — but didn’t answer — the question that is on everyone’s mind: What happens when it stops buying hundreds of billions of dollars in financial assets?”

2 in 3 Small Businesses Profitable in 2008
From the Dayton Business Journal: Slightly more than two in three small businesses in the U.S. were profitable last year, according to a new survey. “Small business owners’ optimism during the current economic downturn has a correlation to how competitive they are in being customer oriented,” P.K. Kannan, director of the Center for Excellence in [...]
Ebay Outlines Three Year Plan
From BusinessWeek: The overall goal: to create a one-stop shop where customers can make purchases in a wide variety of ways—from bidding in auctions to clicking on ads, scanning classifieds, or making outright purchases. And he promised the site would be easier to use, offer even better deals, and provide a more satisfying experience. “The [...]

$1 Billion M Resort Opens in Vegas
Fox News reports: The new M Resort, Spa and Casino has opened during what has been a tough stretch for casinos in Las Vegas, but chief executive Anthony Marnell III said timeless tenets – service and value – will push his company forward M Resort has nine restaurants, including a buffet with beer [...]
35 Counties Account for 50% of Foreclosures
More than half of the nation’s foreclosures last year took place in 35 counties, a sign that the financial crisis devastating the national economy may have begun with collapsing home loans in only a few corners of the country.
Now Is The Time For Sales Heroes
Sales heroes know that they have to keep getting up when all around them fall. Sales heroes know that they have to keep persisting when all around them give up. Sales heroes know that they need to be 100% on top of their game. Let’s get one thing straight, there is still business out there. [...]