Ivanka Trump of The Trump Organization says she isn't totally sure the recent stock market gains are based on fundamentals.I just don't know how to believe this is a V-shaped recovery,as opposed to a W.Commercial real estate hasn't really entered the system yet.I have a feeling that we're going to be coming out of this very slowly.Our consumers are still coming,but people are much more tentative in real estate and jewelry.We launched our jewelry line two years ago,Ms.Trump noted,wearing some costume earrings from the collection.
A massive deleveraging has to occur in commercial real estate,Ms.Trump believes.There has to somehow be a rationalization of that system.When people aren't hiring,they don't need office space.There's much more vacancy in the New York midtown core.Bankers are starting to call again to solicit business,but nobody's making substantial or reasonable loans,Ivanka Trump observed.A willowy blond,Ms.Trump has appeared with her father Donald on The Apprentice reality T.V. show.
Monday, August 17, 2009
Friday, August 14, 2009
Health Uncle:Whole Grain Helps
Typically,an American eats 12 grams of fiber a day,but 25-38 grams are recommended to lower cholesterol,control weight,and prevent conditions such as diabetes and heart disease.Researchers at the University of Minnesota followed 14,000 American adults for 13 years.Their study showed that the participants who ate one extra serving of whole grains a day were seven percent less likely to experience heart failure.
Whole grain foods include oatmeal,cereal and wheat bread.Developing a taste for dark bread may help you considerably.Many oat cereals are available,including inexpensive private label cereals.The same holds true for wheat bread.
Whole grain foods include oatmeal,cereal and wheat bread.Developing a taste for dark bread may help you considerably.Many oat cereals are available,including inexpensive private label cereals.The same holds true for wheat bread.
Tuesday, August 11, 2009
AmEx Better,But Challenged
Ken Chenault,CEO of American Express,saw improvement in his cardholders' credit metrics for the first time in 18 months,but,while his rates were better than expected,they still remain high by historical standards.The external challenges are not going to go away anytime soon,Mr.Chenault told investors.Bankruptcies will rise in Q3-4,and,as the yield on 10-year Treasuries rise because of increased issuance to pay for federal programs,mortgage and other rates will go up as well.
The largest decline in spending,Ken Chenault observed,is by the wealthiest clients.The economy,not housing,is driving the decline in spending.Still,the easing of credit card write-offs is allowing AmEx to resume investing in important areas such as marketing,promotions and customer acquisition programs.Mr.Chenault believes that Q3 Gross Domestic Product will rise 1%.
The largest decline in spending,Ken Chenault observed,is by the wealthiest clients.The economy,not housing,is driving the decline in spending.Still,the easing of credit card write-offs is allowing AmEx to resume investing in important areas such as marketing,promotions and customer acquisition programs.Mr.Chenault believes that Q3 Gross Domestic Product will rise 1%.
Monday, August 10, 2009
Early Edition:Inside the Employment Report
Friday's employment report showed a loss of 247,000 jobs in July,versus an estimate of 275,000.There were 14.5 million jobless,for a rate of 9.4%,versus June's rate of 9.5%.Average hourly wages rose 0.2%,while July's average workweek was 33.1,versus 33.0 for June.Non-farm payrolls showed the smallest decline since August of 2008,and the May-June losses were revived downward.Every measurement showed an economy in a slowing descent.
Hilda Solis,U.S. Labor Secretary,said as long as we see job loss,it's gonna be a problem.I wouldn't say the recession is over,she remarked.We're certainly on track to stabilizing the patient.The patient is still sick.The patient still has a fever.We know that we still have to be vigilant.We're gonna be very cautious.We want to move forward with our recovery plan.
The president has made an investment in renewable energy,health care and IT,such as two billion dollars for weatherization efforts,Ms.Solis noted.You're going to see a big change over the next few years in job creation in renewable energy.Tax breaks are going to come along.It's gonna take a while,but I have a lot of optimism that there's gonna be a change in direction,Secretary Solis stated.
Hilda Solis,U.S. Labor Secretary,said as long as we see job loss,it's gonna be a problem.I wouldn't say the recession is over,she remarked.We're certainly on track to stabilizing the patient.The patient is still sick.The patient still has a fever.We know that we still have to be vigilant.We're gonna be very cautious.We want to move forward with our recovery plan.
The president has made an investment in renewable energy,health care and IT,such as two billion dollars for weatherization efforts,Ms.Solis noted.You're going to see a big change over the next few years in job creation in renewable energy.Tax breaks are going to come along.It's gonna take a while,but I have a lot of optimism that there's gonna be a change in direction,Secretary Solis stated.
Friday, August 7, 2009
Health Uncle:MedImmune's Building Binge
MedImmune,a subsidiary of British Pharmaceutical holding company Astra Zeneca,is embarked on a substantial building program.Best known for its nasal vaccine FluMist,the firm,which employs 3100 people,has broken ground for a 300,000 square foot research facility at its Gaithersburg,Maryland headquarters.At the same time,it bought a second building with 56,000 square feet nearby,and is erecting a 355,000 square foot manufacturing plant in Frederick,Maryland,where it plans to make its pediatric respiratory drug,Synagis.MedImmune comprises 25% of Astra Zeneca's biotech business.
MedImmune is developing a nasal vaccine for the H1N1 virus,or swine flu.The contractor that makes its nasal delivery systems,however,was caught off guard by the new program,and is having trouble meeting the demand for H1N1 devices.The U.S. government has ordered at least 90 miilion dollars' worth of the H1N1 mist,in addition to normal FluMist,which MedImmune has already begun shipping.This year,regular FluMist will be administered as early as August,when many school check-ups are given.
MedImmune is developing a nasal vaccine for the H1N1 virus,or swine flu.The contractor that makes its nasal delivery systems,however,was caught off guard by the new program,and is having trouble meeting the demand for H1N1 devices.The U.S. government has ordered at least 90 miilion dollars' worth of the H1N1 mist,in addition to normal FluMist,which MedImmune has already begun shipping.This year,regular FluMist will be administered as early as August,when many school check-ups are given.
Tuesday, August 4, 2009
Exxon Mobil's Biotech Connection
Exxon Mobil isn't developing alternative fuels on its own.The Irving,Texas company has partnered with Synthetic Genomics,which was founded by Dr.Craig J. Ventner,a pioneer in the field of genomic research.SGI,which is privately held, acquires knowledge of organisms for energy and environmental applications.Exxon says that their goal is to produce a commercially scalable,renewable fuel that is compatible with gasoline and diesel.
Algae fuels would fit into existing infrastructure such as transportation networks and refineries,which would save untold amounts of capital.Their production wouldn't require arable land and fresh water,and could be accomplished on far fewer acres than other biofuels.As well,algae not only do not emit the greenhouse gas carbon dioxide;they actually absorb it.
Despite its promise,algae biofuel would be a supplement to hydrocarbons for the foreseeable future.Moving algae biofuel from the lab to the pump could require decades of work by a multidisciplinary scientific team,Exxon says.Enthusiasm for turning one-celled organisms into clean energy wells is tempered by the sobriety of a petrochemical titan.
Algae fuels would fit into existing infrastructure such as transportation networks and refineries,which would save untold amounts of capital.Their production wouldn't require arable land and fresh water,and could be accomplished on far fewer acres than other biofuels.As well,algae not only do not emit the greenhouse gas carbon dioxide;they actually absorb it.
Despite its promise,algae biofuel would be a supplement to hydrocarbons for the foreseeable future.Moving algae biofuel from the lab to the pump could require decades of work by a multidisciplinary scientific team,Exxon says.Enthusiasm for turning one-celled organisms into clean energy wells is tempered by the sobriety of a petrochemical titan.
Monday, August 3, 2009
Early Edition:Real Estate Check-up
Real estate and media magnate Sam Zell,Chairman of Equity Group Investments,says that basically we're moving to a position where single family home prices stop going down.It's the key to everything.That's where consumption comes from.Once housing stabilizes,it will stabilize the rest of the consumer sector.They must have confidence in their biggest asset.There will be a slow improvement in residential real estate this fall,Mr.Zell predicted.
Sam Zell described the commercial real estate sector as being underwater.He doesn't think we'll see any foreclosures of institutional assets until 2-3 years from now,when they can no longer cover.Every day you don't sell,you buy,Mr.Zell observed.Companies are,to a large extent,in pretty good shape.
Mr.Zell,a diminutive man with a goatee,also owns Tribune Company,parent of The Chicago Tribune and The Los Angeles Times,as well as Newsday and 23 T.V. stations.I don't have emotional attachment to assets,Mr.Zell stated-just to my family.
Sam Zell described the commercial real estate sector as being underwater.He doesn't think we'll see any foreclosures of institutional assets until 2-3 years from now,when they can no longer cover.Every day you don't sell,you buy,Mr.Zell observed.Companies are,to a large extent,in pretty good shape.
Mr.Zell,a diminutive man with a goatee,also owns Tribune Company,parent of The Chicago Tribune and The Los Angeles Times,as well as Newsday and 23 T.V. stations.I don't have emotional attachment to assets,Mr.Zell stated-just to my family.
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