Posts filed under “Corporate Management”
Fewer U.S. shares are available to purchase, which is driving prices higher.
Repurchases are magnifying gains in U.S. stocks, and are poised to lift prices further, as seen in the Wilshire 5000 Total Market Index. According to Bloomberg, it has risen “more than the market value of all U.S. companies since the current bull market started in March 2009. The gap was about 13 percentage points.”
“The difference comes from a reduction in the number of shares. The resulting de-equitization is giving a boost to this stock-market rally,” wrote Pierre Lapointe, head of global strategy and research at the Montreal-based Pavilion Global Markets.
The S&P 500 now has 2.3% fewer shares than it did in July 2011, when share total reached its high for the bull market. The drop in total stock outstanding accounted for 25% of the past year’s earnings-per-share growth for companies in the index.
Bloomberg, May 14, 2013
I waste a lot of time energy kvetching about bad bankers, dumb companies, rude people, foolish airlines, and most especially — terrible customer service. For a change, let me praise a company who does something right: Maui Jim. I have had several opportunities to test their customer service, and they have gone over and above…Read More
Fascinating investigative journalism from the great Herb Greenberg:
450,000 people had robot-assisted surgery last year, making Intuitive Surgical, the maker of the da Vinci machine, one of the hottest stocks around. Hospitals across the country embrace the cutting-edge surgical device but criticism is mounting. CNBC’s Herb Greenberg investigates allegations of problems in the operating room in his latest documentary, “The da Vinci Debate.”
Matt Drance at Apple Outsider has the smartest take I have read yet on Facebook home. It seems that the Apple Google war — or IOS vs Android — just got a brand new combatant. Here’s Drance: You’ve built an enormous business around a desktop website. Unfortunately, people around the world are spending more and…Read More
Charle Hugh Smith is an author. He blogs at Of Two Minds.
The insecurity of self-employment can generate a far more resilient life and mindset. There are all sorts of “10 best companies to work for” lists, but I’ve assembled a slightly broader list: The Ten Best Employers To Work For. Without further ado, let’s go to number 1:
Surprised? Expecting Google or Zappos? The National Security Agency? Nope, not even close. It’s you–yes, you, Bucko. You’re the best employer to work for. OK, on to the rest of the list:
Aren’t you glad I didn’t make this a “100 best employers” list?
Before you start nitpicking the list: yes, there is only one of you, so the list is somewhat repetitive.
And yes, there are some downsides to working for yourself. For example:
1. There’s no point in leaving a snippy note on the fridge to the sneaky co-worker who stole your bagel: oops, you ate it during coffee break #3 without noticing. Dang, accepting responsibility sucks.
2. When you launch a full-blown rant against your psycho, control-freak, demanding boss, you’re doing so in front of a mirror. Sigh–it’s just no longer fun blaming the boss.
3. Excuses don’t fly too far with clients and customers.
4. Nobody cares when you show up or how productive you are except you.
5. Shouting “Take this job and shove it” isn’t quite as satisfying.
All those stupid regulations you chafed under: gone. All those impossible demands that stressed you out: gone. All those shiftless, incompetent co-workers: gone. Time cards: gone. Staff meetings: gone. People to blame for your troubles: gone. Paycheck: gone.
Do you really miss anything but the last item? But really, wasn’t that paycheck the chain that bound you to serfdom?
Here’s the dirty little secret of the U.S. economy: you’re already working for yourself now unless you’re in the Armed Forces or a civilian equivalent. The clock is ticking on all those promises of pensions and benefits for life you think separate you from the self-employed entrepreneur. Maybe the promises pay out for a few more years, maybe even a decade, but they are impermanent for the simple reason that the promises made (and the nation’s debts) far exceed the economy’s ability to pay those promises and debts in dollars retaining today’s purchasing power.
Either the promises will be broken/defaulted, or a $2,000/month pension will buy a loaf of bread and a gallon of gasoline. There is no other end-state other than default or inflate-away-the-debt/promises.
There has been much commentary (see this as a smart example) on the scathing Senate hearings on JPM and the London Whale last week. I wanted to take a moment to throw out a few ideas that relate to JPM’s embarrassing moment int he spotlight (again). The TBTF giant banks want to eat their cakes…Read More
Is there a single doubt left in your mind? Are you still a believer in Rufus T. Firefly Jamie Dimon as the world’s smartest banker? Is there a scintilla of wonder left in your mind that the giant banks are legitimate? Have you come around to understanding — finally — what some of us have…Read More