Stocks: Did anyone notice the DJIA went up yesterday, AGAIN, though silently up 115 points and now clearly up over 10,725. I don't know it feels like, sounds like, smells like a strong stable consistent climb up the other side of the V. eh? I know most missed this great news because you were watching Scott Brown win the election in Massachusetts. Hey, that is good news to...........it builds more balance to our congress and we certainly need balance regardless of which side of the isle you reside.
Business: 20 January 2010— Amid the economic turmoil of the current recession, one franchise system reported solid growth in 2009. SERVPRO, the nationwide system of more than 1,500 franchises, said 2009 year-end system-wide revenue hit the $1 billion mark for the first time in SERVPRO's 40-year history."The SERVPRO franchise system is built around solid core values," said Rick Isaacson, executive vice president of Servpro Industries, Inc. "As long as we provide superior service and focus on saving our clients money, we will continue to earn their business." Isaacson added that 2009 was the 10th time in 11 years the SERVPRO system experienced double-digit volume growth.
Business and IBM: In another sign that the sector is leading the charge for the U.S. economic recovery, technology bellwether IBM (IBM) posted strong earnings results Tuesday, handily beating analyst expectations. Big Blue reported earnings per share of $3.59, beating the $3.47 per share Wall Street analysts had been expecting.
Business ++: Colgate-Palmolive Company (CL) is on-track to record double-digit earnings growth in 2010 and in the immediate year after. Lean, experienced Colgate-Palmolive has weathered the recession in good shape. Colgate, an assertive-defensive company, stayed one step ahead of the downturn -- controlling expenses, trimming excess marketing spending, and focusing on products in stronger-growth markets.
Real Estate: The number of mortgages approved for house purchase rose in November to 60,518, the highest level since March 2008, according to the latest figures from the Bank of England (BoE). Oliver Gilmartin, senior economist at the Royal Institution of Chartered Surveyors, said the BoE’s figures supported its view that “increasing momentum” in the housing market would see further rises in house prices during early 2010.
Banking and Rates: Libor rate .230 and prime rate 3.25 for months and holding nice and steady.
Gas Prices: Have you noticed how long gas prices have remained nice and stable for the last year? Don't forget the stable and good prices in the up tick.
Brighter side: Even though we had a historic bank close in Utah this past week, (Barnes Bank) which is always tragic, you have got to look at this bad news from another perspective. For every action there is an opposite and equal reaction. Other local banks received a huge shot in the arm as deposits went from one bank to the other, strengthening their positions and renewing new relationships and providing more liquidity for loaning opportunities. Many local and regional banks are benefiting from the movement of money and getting a better share of the market. (is this good news or bad.........you always have to find the good news amongst the bad........because it is always there. There is a silver lining in every dark cloud.)
TOKYO -- Japan has opened the country's cash-for-clunkers stimulus plan to U.S. brand vehicles, bowing to American pressure in a move that could boost Detroit 3 sales here. Small-volume U.S. imports now can qualify for the program. The cars had been excluded because they are imported under a preferred-handling process.Under a change to the system enacted today, those cars will be allowed to use their EPA mileage ratings to qualify for Japan's program, Japan's Ministry of Economy, Trade and Industry said in a statement.
While the policy change helps U.S. carmakers, the victory is more symbolic than economic. The Detroit 3 import only about 2,000 vehicles a year under the preferred-handling system. The change in the Japanese program amounts to a sales boost of roughly 700 cars, he estimated. Models now qualifying include the Ford Escape, Cadillac CTS and Chrysler Grand Voyager, he said. Outrage in Congress: The exclusion of U.S. brands from Japan's incentive program sparked outrage in the United States, where Japanese automakers were big winners in that country's clunker program. Japanese automakers sold 319,342 vehicles under the U.S. clunkers program last year, almost half of the roughly 677,000 vehicles purchased. This month, Sen. Debbie Stabenow, D-Mich., introduced a bill that would have required continuing negotiations between the U.S. trade representative and the Japanese until Japan's cash-for-clunkers program is opened to U.S. automakers. If the Japanese had not yielded, the bill would have called for the U.S. trade representative to consider filing a lawsuit alleging violations of World Trade Organization rules. The Transportation Ministry official said his government opened the program so more cars would qualify and thereby maximize the impact of the intended economic stimulus. (Well, finally the Japanese discriminating and manipulating government finally have let a small few US vehicles participate in their Cash for Clunkers.........doesn't this really bug you? It does me? But hey I will take small wins and positive movements where ever they come from.)
Negotiators representing NBC and the soon-to-be-former host of its Tonight Show have reportedly agreed to a settlement under which O'Brien will walk away with $40 million, freeing up NBC to return Jay Leno to his familiar 11:35 p.m. perch. Of that $40 million, $8 million or so is said to be earmarked for his staff, and the remaining $32 million will decrease by whatever amount O'Brien earns from other networks during the remaining three-plus years of his contract period. (I don't know if this is positive or negative but I do know that Conan and his staff probably will be positive today. The more positive people in the world the better.)
Rut Row section:
Acura is recalling all 2010 MDXs because of a missing bolt used to attach interior trim pieces for air bags. (Oh no another perceived quality Japanese car being recalled for quality issues, again? Recalling all of them??? ouch.)
Quote for the day:
"Prosperity is a Great teacher; Adversity a greater." -William Hazlitt
Have a wonderful and productive day today and for heck sakes...........Smile and spread happy and good news.
sy
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