Dow Down Over 900 Points on Fed, Interest Rates & Recession Fears
New York, NY….The markets have the jitters today after the Federal Reserve continued to raise interest rates and increasing recession fears.
Federal Reserve Ups Rates Another 1/2 Percent
Washington, DC…Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures. Russia’s war against Ukraine is causing tremendous human […]
The Last Iconic Boeing 747 Airplane Leaves Everett Factory
Everett, WA…747 left the company’s widebody factory in advance of its delivery to Atlas Air in early 2023. “For more than half a century, tens of thousands of dedicated Boeing employees have designed and built this magnificent airplane that has truly changed the world. We are proud that this plane will continue to fly across […]
Governor Newsom Unveils Price Gouging Penalty on Big Oil’s Profits
Sacramento, CA…Following unexplained gas price hikes that led to record profits for Big Oil, Governor Gavin Newsom and Senator Nancy Skinner (D-Berkeley) unveiled a proposed price gouging penalty on oil companies’ excess profits to deter excessive price increases and keep money in Californians’ pockets. The language of the proposed price gouging penalty can be found here. […]
263,000 Jobs Added and Unemployment Rate Holds at 3.7% in Latest Jobs Report
Washington, DC…Total nonfarm payroll employment increased by 263,000 in November, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, health care, and government. Employment declined in retail trade and in transportation and warehousing. This news release presents statistics from […]
President Biden on Growing the Economy and Creating Good-Paying Jobs
Bay City, Michigan…Hello, Michigan! (Applause.) Hello, hello, hello, hello! I’ll tell you what: I — if I — my mom is looking down from Heaven and saying, “Apologize to these people because you have their — you have their back to them.” I apologize — (laughter) — because I’m going to be talking that way. […]
Covid Deaths Drive Life Insurance & Annuity Benefits to Record Highs in 2021
Washington, CA…Nearly $200 billion in life insurance and annuity benefits provided families and retirees with financial security. New data from the American Council of Life Insurers (ACLI) shows that life insurance companies paid $100 billion to beneficiaries of life insurance policies and $97.7 billion to annuity holders in 2021, both record highs for a single […]
The Walt Disney Board Fires Bob Chapek & Robert A. Iger Returns As Chief Executive Officer
Burbank, CA…The Walt Disney Company (NYSE: DIS) announced today that Robert A. Iger is returning to lead Disney as Chief Executive Officer, effective immediately. Mr. Iger, who spent more than four decades at the Company, including 15 years as its CEO, has agreed to serve as Disney’s CEO for two years, with a mandate from […]
Twitter Reinstates Donald Trump
“The people have spoken. Trump will be reinstated. Vox Populi, Vox Dei.” ~ Elon Musk
LAO Says California Faces $25 Billion Budget Deficit in 2023 – 24!
Sacramento, CA…The following is the executive summary from the Legislative Analyst’s Office on CA’s finances….”Economic Conditions Weigh on Revenues. Facing rising inflation, the Federal Reserve—tasked with maintaining stable price growth—repeatedly has enacted large interest rate increases throughout 2022 with the aim of cooling the economy and, in turn, slowing inflation. The longer inflation persists and […]