Last two days we were talking about poor statistics of housing market and problems connected with it. And as it seems, the topic will be a hot issue for a while longer. Housing market has double trouble. It is not only about new houses that have no one to be bought by, but also about houses and homes that have been repossessed since the recession began. According to latest numbers, one in 10 households has missed at least one mortgage payment what represents more than 2 million homes repossessed since December 2007. If companies start to hire steadily again and layoffs ease, the outlook will improve. And although there was a modest decrease in the number of Americans fillin! g for jobless benefits, the figure is not that high to bring down the unemployment rate. It is just like Jay Brinkmann, the top economist for the Mortgage Bankers Association, has said: “Ultimately, the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story. As Brinkmann’s trade group reported, just under 10 percent of homeowners are delinquent on at least one mortgage payment. That represents more than double the level before the recession. Even though the percentage of mortgage borrowers with foreclosure notices and the percentage of loans with first notice of foreclosure fall slightly, many experts say the situation is getting worse. July was the worst month on record for new home sales. For sales of previously occupied homes it was the worst month in 15 years. While decreasing number of people capable of buying house or flat, growing number of foreclosures push down home prices that scare potential buyers and seller! s from the market. As Michelle Meyer, from a Bank of America s! aid: 220;Housing is certainly not going to help the recovery.”
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US citizens live with an average $42,000 GDP per capita, so literally they should be the richest people in the world. But if we go deeper, we will find out they are living in the country burried in debt for several next generations. So far we've heard their deficit extended $1.000 trillion and the sum was declared by two independent organizations – Congres budget organization projected that the debt would increase to $1.342 trillion this year and just slightly up was the White House projection. In any case, this was not good news for markets, since non-partisan CBO projected US would slip into another crisis round. According to it, most of it came from 2009 $ 800 bill! ion rescue package for banks and another financial institutions. The unemployment one of key factors for markets is supposed to stay high, not to decline below 9 percent in 2011 and fluctuate around 6.7 percent in 2012-2014. Certainly it won't reach pre-crisis 2008 5 percent. According White House 2012 would bring 8.1 percent.And while it is a fact that the unemployment will be a healing in long term, it will certainly hurt Democrats in next regional and presidential elections. Although the country is sinking in debts backed by China, both parties keep going on blaming the opposite side. According Democrats, previous government was responsible for the situation leading into crisis and from then on they were just blocking any kind of fiscal reform that should improve small businesses and regional unemployment. Republicans keep talking about “right” direction for the country, but this all may slid back into political hustling with no results.The fact is, Americans! are living on debt and despite being the biggest world econom! y, the t ruth is they are not far away from falling back to economic, politic and social misery.
Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.
US citizens live with an average $42,000 GDP per capita, so literally they should be the richest people in the world. But if we go deeper, we will find out they are living in the country burried in debt for several next generations. So far we've heard their deficit extended $1.000 trillion and the sum was declared by two independent organizations – Congres budget organization projected that the debt would increase to $1.342 trillion this year and just slightly up was the White House projection. In any case, this was not good news for markets, since non-partisan CBO projected US would slip into another crisis round. According to it, most of it came from 2009 $ 800 bill! ion rescue package for banks and another financial institutions. The unemployment one of key factors for markets is supposed to stay high, not to decline below 9 percent in 2011 and fluctuate around 6.7 percent in 2012-2014. Certainly it won't reach pre-crisis 2008 5 percent. According White House 2012 would bring 8.1 percent.And while it is a fact that the unemployment will be a healing in long term, it will certainly hurt Democrats in next regional and presidential elections. Although the country is sinking in debts backed by China, both parties keep going on blaming the opposite side. According Democrats, previous government was responsible for the situation leading into crisis and from then on they were just blocking any kind of fiscal reform that should improve small businesses and regional unemployment. Republicans keep talking about “right” direction for the country, but this all may slid back into political hustling with no results.The fact is, Americans! are living on debt and despite being the biggest world econom! y, the t ruth is they are not far away from falling back to economic, politic and social misery.
Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.
There are too many people stepping down these days. At the end of July, British Petroleum informed its CEO Tony Hayward will step down in October and take a post at TNK-BP, the company’s joint venture in Russia. Few days ago it was Mark Papermaster that had to leave Apple Inc. because of problems with iPhone 4’s antenna, he was responsible for. Order not to be bored, yesterday General Motors announced that CEO Ed Whitacre would step down in September. But this time it was not a result of someone’s failure. This decision was made as the biggest US automaker prepares to break free from government control. Whitacre, 68, who was brought out of retirement last ! year by the Obama administration to lead the troubled company, has succeeded. As revenues and profits swelled under him, there is no need to hold him there longer. “It was my public duty to help return this company to greatness and I didn’t want to stay a day beyond that. We have positioned the company for success and things look good.” Whitacre said. According to Whitacre, Dan Akerson would be the best successor, even though he had no previous experience in manufacturing before joining the GM board. “I know Dan will do a terrific job of leading this company forward.” Whitacre said. “He has great team around and the complete support of the board and GM’s employees…I think he is absolutely the right choice.” he added. Whitacer will step down as CEO on September 1 and as chairman of the board by the year-end. As Ackerson “has played a big role in the key decisions and changes at the new GM”, Whitacer believes t! hat the transition to Akerson’s leadership would be R! 20;seaml ess”.
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Do you know what always surprises me? It is the fact, that firstly something bad has to happen to make someone (in this case it is particular corporation) to become “different” and “going forward”. As Carl-Henric Svanberg, Chairman of British Petroleum said, the company would take a “hard look” at itself. But I am asking: why now, when it’s already too late? Irresponsibility of this company caused that oil rig explosion killed 11 people, ruined the Gulf’s fishing and tourism industries and what is more polluted the Gulf shoreline which purification will take months if not years. Tony Hayward, former British Petroleum’s C! EO cowardly ran away and just said: “I believe that it is not possible for the company to move on in the United States with me remaining as the face to BP. So I think that for the good of BP, and particularly for the good of BP in the United States, it is right for me to … step down.” But what is good for people living in the United States in the oil-stricken area? Exchange of chief executive officer will actually change nothing, at least for common Americans. British Petroleum, on the other hand, will at least lose some of its “hard-earned” money. According to official announcement, British Petroleum had suffered a loss of 16.9 billion dollars in the second quarter of 2010. This global energy company also informed it plans to sell assets worth up to $30 billion over the next 18 months which should help it to cut net debt to $10-15 billion in that period. But how the exchange of CEOs will help America is not known yet.
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Viete, čo ma zakaždým (nemilo) prekvapí? Skutočnosť, že najskôr sa musí stať niečo zlé, aby sa dotyčný (v tomto prípade sa jedná o konkrétnu korporáciu) „zmenil“ a „postúpil dopredu“. Ako povedal Carl-Henric Svanber, predseda British Petroleum, spoločnosť bude na seba a svoje činnosti prísnejšie dozerať. Ja sa však pýtam: prečo teraz, keď je už aj tak neskoro? Nezodpovednosť tejto korporácie zapríčinila, že explózia na ropnom vrte zabila 11 ľudí, zruinovala ryb! 25;rsky a turistický priemysel v Mexickom zálive, ba čo viac znečistila pobrežie, ktorého vyčistenie bude trvať mesiace, ak nie roky! Tony Hayward, bývalý vrchný výkonný pracovník spoločnosti British Petroleum, zbabelo odstúpil a povedal len: „Verím, že nie je možné pre spoločnosť ísť ďalej, ak by som naďalej bol jej tvárou. Preto si myslím, že pre dobro British Petroleum, a najmä pre dobro British Petroleum v Spojených štátoch, je najlepšie ak odstúpim.“ Odstúpiť a zhrabnúť nemalé finančné odškodnenie za 25 rokov služby je veru to najjednoduchšie riešenie. No čo je dobré pre ľudí, ktorí žijú v ropou zasiahnutej oblasti? Výmena vedúcich pracovníkov v skutočnosti neprinesie žiad! nu výraznejšiu zmenu, aspoň nie pre bežn&#! 253;ch A meričanov. Spoločnosť, na druhej strane, však príde o nemalú sumu z ich „ťažko zarobených“ peňazí. Podľa oficiálnej správy, utrpela spoločnosť British Petroleum v druhom štvrťroku 2010 stratu 16.9 miliárd dolárov, pričom ich strata bude s najväčšou pravdepodobnosťou ešte rásť. Preto táto britská nadnárodná energetická spoločnosť informovala, že v nasledujúcich 18 mesiacoch plánuje predať svoje aktíva v hodnote 30 miliárd dolárov, čo by malo v danom období pomôcť znížiť jej dlh na 10-15 miliárd dolárov. Ako výmena vedúcich pracovníkov pomôže Amerike je však zatiaľ neznáme.
Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.
