Money

Movement value of Money

2011-10-03T15:16:00.000-07:00

int the world money is important. its because money used for anything. its can use to buy something. its for pay payment. its also can save our money in bank.

money as tool changer is needed by people in the world. the first time transaction we do not use the money. we only change our things with the other people things. since the people found money its make easier to get something.

each country has different money. we call as currency. Indoneisa currency is Rupiah. Malaysia currency is ringgit. Amerika currency is dollar. Singapura currency is dollar singapura. Arab currency is real. we can change our money with the other money in money changer, but its different value for us.

the word wisdom for using money
"use money in good ways"
by :anam

Nambah uang dari internet

2009-01-31T00:33:00.000-08:00

Temen temen mungkin sudah banyak yang tahu tentang macam2 program dapat uang dari internet, dan ini adalah salah satunya

GE's big miss shocks market

2008-04-11T11:16:00.000-07:00

By Charley Blaine and Elizabeth Strott

First-quarter profits are not shaping up to be pretty. General Electric (GE, news, msgs) this morning reported a 6% decline in first-quarter profit.

GE earned $4.3 billion, or 43 cents per share, down from $4.57 billion, or 44 cents per share, in the first quarter of 2007. Earnings from continuing operations were a penny better, at 44 cents per share, but analysts had expected GE to earn 51 cents per share.

Shares of GE, a Dow stock. slumped $4.22, or 11.5%, to $32.53 in midday trading, sending the overall markets lower. At 1 p.m. ET, the Dow Jones Industrial Average was down 173 points at 12,408. The Nasdaq Composite Index had lost 40 points to 2,311, and the Standard & Poor's 500 Index was down 18 points at 1,338. Light, sweet crude oil was down $1.08 to $109.03 a barrel.

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It was the biggest one-day drop for GE since the stock market crash in October 1987.

GE cited "a slowing U.S. economy and difficult capital markets" for the decline in profit. Revenue at GE rose 8% to $42.24 billion in the first quarter.

"Our primary shortfall was a decline in financial services earnings. We knew the first quarter was going to be challenging, but the extraordinary disruption in the capital markets in March affected our ability to complete asset sales and resulted in higher mark-to-market losses and impairments," Chief Executive Officer Jeff Immelt said in a press release. "Our inability to complete these asset sales and higher mark-to-market losses and impairments impacted earnings by 5 cents per share."

GE provides a wide range of industrial products, including aircraft engines, power-generation equipment, security technology and health-care products. It also provides consumer financing and owns the NBC broadcast network.

from : http://articles.moneycentral.msn.com/Investing/Dispatch/080411markets.aspx

Obama targets executive pay

2008-04-11T11:07:00.000-07:00

NDIANAPOLIS (AP) -- Democratic presidential candidate Barack Obama is demanding that company shareholders have a say in how much executives get paid as he pushes his populist message.

Obama, in remarks he planned to make to reporters Friday morning, wants Congress to pass legislation he has sponsored that would require corporations to have a nonbinding vote by shareholders on executive compensation packages.

Under Obama's legislation, shareholders could not veto a compensation package offered to an executive and would not place limits on pay. Rather, they would have a means to publicly express their position.

A similar bill passed the House last year.

On the campaign trail. The Illinois senator's comments come as he embarks on the third day of a four day-swing through Indiana, which holds its primary May 6. Obama and Sen. Hillary Rodham Clinton are running even in the state and have both been making economic pitches to voters.

"This isn't just about expressing outrage," Obama says in prepared remarks. "It's about changing a system where bad behavior is rewarded so that we can hold CEOs accountable, and make sure they're acting in a way that's good for their company, good for our economy, and good for America, not just good for themselves."

Income inequality is a hot-button issue with audiences, particularly the blue-collar workers that Obama is trying to peel away from Clinton in the more economically distressed regions of Indiana and Pennsylvania, which holds its primary April 22.

The high cost of chief executive pay has drawn criticism in recent years as salaries rose, stock options paid off like lottery jackpots, and perks like chauffeured cars and private jets spread.

Rolling in dough. USA Today reported this week that the median compensation for chief executives at the 50 largest companies in the United States was $15.7 million last year, even though some of the companies were not performing well.

Investor advocates, union pension funds and shareholder groups have supported the legislation. Republican critics worry it would give activist investors an inroad to change a company's policies.

Even President Bush last year questioned the extravagant pay of some company managers and directors, but said it was not a matter for government involvement. To top of page

from : http://money.cnn.com/2008/04/11/news/companies/obama_comp.ap/index.htm?postversion=2008041110

More pain for travelers - American grounds 595 flights

2008-04-11T11:06:00.000-07:00

By David Goldman and Kenneth Musante, CNNMoney.com staff writers
Last Updated: April 11, 2008: 1:30 PM EDT

NEW YORK (CNNMoney.com) -- The chaos facing air travelers continued Friday as American Airlines grounded 595 more flights, or 25% of its schedule, and stranded tens of thousands of passengers.

Friday marked the fourth straight day of trouble for American - the nation's largest airline - which has canceled nearly 2,500 flights affecting some 300,000 passengers.

Overall, U.S. carriers have shut down about 3,700 flights since late March in response to failed Federal Aviation Administration safety inspections of MD-80 airplanes. The FAA is conducting industrywide inspections of all jets that will continue through the end of June.

The canceled flights have reduced air travel to a crawl for many passengers. They come at a difficult time in air travel: Carriers are being hammered by ever-higher fuel costs and passengers are facing rising tickets prices and delays.

"It's a very troubled time for the industry," said Air Travelers Association president David Stempler. "It leaves passengers in a very unsettled state."

What American customers can do

American on Friday was asking customers booked on MD-80 flights to check their flight status on the airline's Web site, AA.com. Filers can also call the airline's standard reservation telephone number, 800-433-7300.

The company said customers whose flights were canceled can apply for a full refund or credit toward another ticket.

Any flyer booked onboard a MD-80 aircraft between April 8 and 13 can re-book for free as long as they fly by April 17, even if the flight has not been canceled, according to the airlines. American is allowing only one ticket change.

American also urges customers who were forced to stay overnight due to a cancellation to request compensation by filling out an email form.

The airline is leaving "no stone unturned" to find seats for bumped passengers, said American Airlines spokesman Roger Frizzell. American will try to seat bumped passengers in the empty seats of existing flights, and even try to seat customers on competitors' flights if none are available, he said.

Bumped passengers will likely not supersede booked passengers on flights that are still scheduled to fly, he added.

The airline expects to have 60% of its MD-80 flights in operation by the end of Friday, according to Frizzell. "By end-of-day Saturday, our hopes are that our airline will be back to normal," he said.

Stempler said he recommends passengers reschedule their flights - for another time or on another airline. He urged passengers to try to get on direct flights. "You don't want to get stranded at an intermediary city," he said.

More than 31% of U.S. commercial flights were delayed, canceled or diverted in February, according to the U.S. Department of Transportation. That's a jump from 2007, when 26% of flights were delayed.

Last year was the worst on record for airline delays since the government began collecting that data in 1995.

Airport headaches

The mood at airports from Chicago to Dallas to New York was grim as frustrated passengers did their best to cope with the cancellations.

The delays Wednesday and Thursday wreaked havoc on the plans of travelers who were forced to reschedule vacations and business trips at the last minute.

Faced with the prospect of overnight delays many travelers raced to make other travel arrangements while others settled in and tried to relax.

American's attempt to appease disgruntled passengers with free food and vouchers did not stop several travelers from speaking out against the airline.

While most passengers acknowledged that safety inspections are important, many blamed American for mismanaging the way it conducts the inspections and said the airline was ultimately responsible for the chaos that unfolded at airports across the country this week.

from : http://money.cnn.com/2008/04/11/news/companies/airline_woes/index.htm?postversion=2008041111

Banks set to stumble again

2008-04-11T11:04:00.000-07:00

By David Ellis, CNNMoney.com staff writer
April 11, 2008: 1:01 PM EDT

NEW YORK (CNNMoney.com) -- When Citigroup and Merrill Lynch each fessed up to nearly $10 billion in losses last quarter investors believed that they had finally scrubbed their books clean.

Those hopes were a bit premature.

"The fourth quarter felt like the kitchen sink [quarter]," said Jaime Peters, a bank stock analyst at Morningstar. "We are going to find out it necessarily wasn't."

Citi and Merrill are among a group of major financial firms due to deliver ugly results for the first quarter in the coming week.

The first quarter was marked by the near collapse of Bear Stearns, continued credit market woes and increased signs that the U.S. economy is indeed in a recession.

Of the six banks and brokers scheduled to report results in the next few days, three are expected to post a loss - Merrill Lynch (MER, Fortune 500), Citigroup (C, Fortune 500) and Washington Mutual (WM, Fortune 500), according to estimates from earnings tracker Thomson Financial.

JPMorgan Chase (JPM, Fortune 500), Wells Fargo (WFC, Fortune 500) and Wachovia (WB, Fortune 500) are expected to report a drop in earnings from a year ago.

And Bank of America (BAC, Fortune 500) is also expected to report a steep decline in earnings from a year ago when it releases its results on April 21.

Analysts anticipate that first-quarter results won't be quite as bad as they were three months ago. Citigroup, for example, also announced it was slashing its dividend when it reported fourth-quarter results. But banks still find themselves squeezed by many of the same problems that plagued them at the end of 2007.
Old problems remain...new ones crop up

Citi and Merrill are expected to announce yet another series of writedowns due to eroding values of mortgage-backed securities and leveraged loan portfolios.

But other areas have started to show increasing signs of deterioration as well. Home equity loans, for example, have become a source of trouble for banks as housing prices continue to spiral lower.

"Home equity is a well-telegraphed problem story right now," JPMorgan Chase bank analyst Vivek Juneja said in a recent conference call about the outlook for the financial services industry in 2008.

"The question simply there is how bad do losses get. The numbers, in some cases, are disastrous," he added.

And with consumer spending slowing and U.S. unemployment on the rise, that is driving losses in banks' consumer-related businesses: credit card, small business and even their commercial real estate portfolios.

As a result, banks are having to set aside more money for potential loan losses.

Washington Mutual, for example, revealed it had to set aside approximately $3.5 billion in loan loss provisions when it pre-announced earnings. Goldman Sachs analysts warned Friday that WaMu could see that number climb to $14 billion by year end.

The bad news isn't limited to loan portfolios either.

When the Federal Reserve aggressively cut interest rates earlier this year, the expectation was the rate cuts would boost banks' net interest margins, a key measure of the profit banks make from taking in deposits and lending them back out.

But competition for customers has been so tough that banks have been unable to cut their deposit rates as much as they would have in the past.

At the same time, companies with sizeable investment banking divisions like Citigroup, JPMorgan Chase and Merrill Lynch are expected to be hit by a slowdown in merger and initial public offering activity. Merger advisory and equity underwriting are two key sources of lucrative fees for investment banks.

Still, bank CEOs will do their best to soothe investors, even as there are few signs that their results will improve anytime soon.

"I don't know if I would call this the end," said Malcolm Polley, chief investment officer at Stewart Capital Advisors LLC in Pittsburgh, which owns shares of Bank of America, Wells Fargo and JPMorgan Chase.

"It would be nice to believe that would happen, but still I don't know that is necessarily going to be the case," he said. To top of page

from : http://money.cnn.com/2008/04/10/news/companies/bank_earnings/index.htm?postversion=2008041113

Wall Street gets walloped

2008-04-11T11:00:00.000-07:00

By Alexandra Twin, CNNMoney.com senior writer
Last Updated: April 11, 2008: 1:02 PM EDT

NEW YORK (CNNMoney.com) -- Stocks slumped Friday afternoon after General Electric's earnings miss amplified worries about how badly the economic slowdown could hurt corporate profits.

A steep drop in a key consumer sentiment index added to the negative tone.

With around 3 hours left in the session, the Dow Jones industrial average (INDU) and the broader Standard & Poor's 500 (SPX) index had both lost 1.4% and the Nasdaq composite (COMP) tumbled 1.8%.

Stocks rallied Thursday, extending a recent advance, thanks to an upgrade of Intel, lower oil prices and improved earnings forecasts from Dow components Wal-Mart and DuPont.

But GE dragged on Wall Street Friday, with its stock falling more than 11%.

GE, often seen as a proxy for the economy due to the breadth of its businesses, reported lower first-quarter sales and earnings that missed estimates as the sluggishness plaguing the nation hurt its financial services business. The company, a Dow component, also cut its second-quarter and full-year 2008 profit forecast.

The company's poor results played into fears that the weakness in the economy is going to have a worse impact on corporations than has been anticipated.

"We're in a period where we need enough time to pass so all the negatives that are being held over our heads can be exposed," said James King, chief investment officer at National Penn Investors Trust.

"The most difficult time for the market is when you know something is wrong but you don't know how bad it's going to get," he said. "Something like GE brings all of that to a head."

However, it was perhaps another sign of the market's recent improved tone that the declines Friday weren't even worse considering the day's news, he said.

Additionally, investors reacted to the University of Michigan's preliminary report on April consumer sentiment. The index fell to 63.2 from 69.5, the worst result since March 1982, according to reports.

Airlines. AMR (AMR, Fortune 500)'s American Airlines canceled an additional 595 flights, or 25% of its schedule, Friday, stranding thousands of passengers. American has canceled about 3,100 flights this week due to safety concerns. AMR stock lost about 2%.

Frontier Airlines Holdings (FRNT) filed for Chapter 11 bankruptcy protection, although it said all flights will operate as scheduled. The low-fare carrier is facing a liquidity crunch after the the company that processes most of its credit card transactions increased the amount of money it keeps from the sale of Frontier tickets. Shares fell 72% in unusually active Nasdaq trade.

On an up note for the industry, the pilots union at Delta Air Lines (DAL, Fortune 500) agreed on contract revisions that could help move along the company's merger with Northwest Airlines (NWAC), a deal that has been in the works for several months.

Other company news. Washington Mutual (WM, Fortune 500) shares lost 3% in active trade Friday after a Goldman Sachs analyst said the mortgage lender could see an additional $14 billion in loan losses this year.

A variety of big technology shares fell, including Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500), Oracle (ORCL, Fortune 500) and Cisco Systems (CSCO, Fortune 500).

Market breadth was negative. On the New York Stock Exchange, losers beat winners 7 to 3 on volume of around 570 million shares. On the Nasdaq, decliners topped advancers by over 2 to 1 on volume of 900 million shares.

Commodity prices. U.S. light crude oil for May delivery fell 61 cents to $109.50 a barrel on the New York Mercantile Exchange.

Gas prices set another record at $3.365 a gallon, the AAA reported.

COMEX gold for June delivery fell $4.50 to $927.30 an ounce.

Other markets. The dollar fell versus the euro and the yen.

Treasury prices rallied, lowering the yield on the benchmark 10-year note to 3.46% from 3.54% late Thursday. Bond prices and yields move in opposite directions. To top of page
First Published: April 11, 2008: 9:36 AM EDT

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taken from : http://money.cnn.com/2008/04/11/markets/markets_newyork/index.htm?postversion=2008041113