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Talk Stock Trading - Financial Market News

Archive for the ‘Consumer Debt’ Category

June 6th, 2008

Foreclosure woes hit home in Britney Spears’ neighborhood

Thursday night I watched Larry King and was saddened to see one of Hollywood’s friendliest faces lamenting over the pending loss of his home.
Ed McMahon, famed Johnny Carson sidekick, Star Search host and Publishers Clearing House bearer of good news, is over $640,000 in arrears on his Hollywood home.
Countrywide has initiated foreclosure proceedings against Mr. McMahon, whose […]

By profsilver -- 2 comments

May 22nd, 2008

E-mail comes back to bite Countrywide CEO

Last week I gave my students some tips on work and life after college.  One tip was to use spell check and grammar check before sending out e-mails.  One tip that I left off this year was “don’t send anything via company e-mail that you wish to remain private.” 
In today’s world of chain messages, carbon copies […]

By profsilver -- 3 comments

May 10th, 2008

Debts mounting as Americans ditch paper for plastic

This week the Fed reported that credit card debt rose 6.7% in the first quarter of this year to $957.2 billion.  No surprise there.
This comes on the heels of news that several discount retailers posted solid sales increases in the first quarter while many higher-end retailers suffered losses.  People are definitely looking for bargains and whether the purchases […]

By profsilver -- 3 comments

May 8th, 2008

Retailers on the rebound

Stocks opened higher after several retailers posted surprisingly positive sales figures.
Wal-Mart reported a same store sales increase of 3.8 percent, while Costco reported an 8 percent increase.  BJ’s Wholesale reported a huge increase of 17.8 percent.  Wow.
It’s too bad the good fortune was not universal…Nordstrom, Limited Brands and the Gap saw same-store sales decline by 3.8, 5 and 6 percent respectively.
Is this discount […]

By profsilver -- 1 comment

April 9th, 2008

Consumer Lending Slows

The Federal Reserve reported earlier in the week consumer borrowing rose at 2.4% in February, just half of the increase from January. The slowdown was not a surprise and reflected what investors already knew - that consumers are being more cautious in their spending.
Auto loans and other non-revolving credit was even more deeply affected. […]

By kellyphill -- 0 comments

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