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Money & The Economy

News on Finance, Money, markets and the economy

Did President Obama Learn Anything While in Puerto Rico ?

  President Barack Hussein Obama recently took his 2012 reelection campaign to the island of Puerto Rico in an attempt to corrall the Puerto Rican vote here in the States. The question is did he learn anything while there from the current Governor of Puerto Rico, Luis Fortuno. Governor Fortuno was elected in the 2008 elections and recieved over 220,00 votes, ...

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Breitling Oil and Gas Announces Exploration in Louisiana

IRVING, Texas, June 14, 2011 — Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, announced that it has spud the Breitling-Sandy Run #1 prospect in St. Helena Parish, Louisiana on June 12, 2011. The Breitling-Sandy Run #1 is a 3800′ well and is targeting Miocene Sands which showed seismic amplitude anomalies on a ...

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Mortgage Banking Giant Agrees to Pay Homeowner $30,000 as Part of Settlement Agreement

With pending counterclaims of fraud and predatory lending, Deutsche Bank agrees to pay defendant $30,000 and issue a letter to correct credit to settle a New Jersey foreclosure action PHILADELPHIA, June 14, 2011 — Shaffer & Gaier, LLC announced today that its client has agreed to a $30,000 cash settlement with Deutsche Bank in an action filed by the banking ...

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The Country Needs a Plan for Growth and Texas Has the Answers

The Lone Star State is a symbol of success for free-market policy. Austin Local Me reported in May that Texas created more jobs than the eight other states that created any jobs at all combined according to Bureau of Labor Statistics. Nine states, including Texas, had more jobs in March 2011 than in that month five years earlier. And Texas’ gains ...

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Governor Scott Secures New Canadian Company HQ for Florida

In the following press release*  Governor Scott announces that Garda Security of Montreal, Canada will be relocating their U.S. Headquarters to Boca Raton Florida from California. Citing Florida’s recent business-friendly atmosphere, Garda President and CEO Stephan Cretier stated: “We have been extremely impressed with the vibrant business climate that the state of Florida is working to create. We appreciate the cooperation ...

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Unemployment Rate Rises to 9.1% only 54,000 New Jobs in May

Today, the Bureau of Labor Statistics released it’s monthly “Employment Situation Report” and the numbers were even worse than analysts expected. Nonfarm payroll employment changed little (+54,000) in May, and the unemployment rate was essentially unchanged at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains continued in professional and business services, health care, and mining. Employment levels in other ...

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Mortgage Rates Lowest Since Thanksgiving

NEW YORK, June 2, 2011 /PRNewswire/ — Mortgage rates fell for an eighth consecutive week, with the benchmark conforming 30-year fixed mortgage rate falling to 4.69 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.39 discount and origination points. SURVEY RESULTS 30-year fixed: 4.69% — down from 4.75% last week (avg. points: 0.39) 15-year ...

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National Home Prices Hit New Low in 2011

NEW YORK, May 31, 2011 /PRNewswire/ — Data through March 2011, released today by Standard & Poor’s for its S&P/Case-Shiller(1) Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index declined by 4.2% in the first quarter of 2011, after having fallen 3.6% in the fourth quarter of 2010.  The National Index hit a new ...

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Consumer Confidence Index Declines

NEW YORK, May 31, 2011 /PRNewswire/ — The Conference Board Consumer Confidence Index® , which had improved in April, decreased in May. The Index now stands at 60.8 (1985=100), down from 66.0 in April. The Present Situation Index decreased to 39.3 from 40.2. The Expectations Index declined to 75.2 from 83.2 last month. The monthly Consumer Confidence Survey® , based on a probability-design random ...

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U.S. Durable Goods Order Drop Much More Than Expected

The commerce department released its advance report of April durable goods orders. Due to a slump in auto and aircraft manufacturing, durable goods orders dropped 3.6%, a much larger decrease than the 2.2% expected by analysts. New Orders New orders for manufactured durable goods in April decreased $7.1 billion or 3.6 percent to $189.9 billion, the U.S. Census Bureau announced ...

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One-in-Four Workers Can’t Afford to Take a Vacation

CHICAGO, May 25, 2011 /PRNewswire/ — As we approach the official kick-off to summer getaways with Memorial Day weekend, a recent study from CareerBuilder shows financial constraints and demanding work schedules have some workers foregoing vacation plans this year. Twenty-four percent of full-time workers reported they can’t afford to take a vacation in 2011, up from 21 percent last year.  Another 12 percent ...

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No Bounce for President Obama on Economic Job Ratings

NEW YORK, May 24, 2011 /PRNewswire/ — While his overall job rating may have gone up after the death of Osama Bin Laden, President Obama’s economic job rating has not seen the same bounce. Just one-third of Americans (32%) give him positive ratings on the overall job he is doing on the economy while almost seven in ten (68%) give him negative ratings. ...

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Spending Cuts, Tax Increases or a Plan to Rescue America from Herself

Over the course of the past few months, since the beginning of the 112th Congress, much has been said on both sides of the aisle about the need for “fiscal discipline”, but very little has really been done to address the nation’s dire situation. The House did pass H.R. 1 shortly after being sworn into office.  This bill proposed 60 ...

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Florida City Economy Invogorated By New Staffing Office

TAMPA, Fla., May 13, 2011 — In the midst of an economic crisis that has hit Florida harder than nearly any other state, some Florida businesses are booming. Businesswoman Rajh Cromie, owner of Snelling Staffing Services Tampa and Sarasota franchises, knows what works when it comes to connecting the right people to the right companies in Florida. As head of ...

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Economic Recovery Sparks Entertainment Boom

NASHVILLE, Tenn., May 12, 2011 — The economy is on the rebound – and so coincidentally is entertainment buying. Whereas in the past few years the economic downturn prohibited companies from buying entertainment for corporate events, the trend now is an upturn in the number of companies providing their clients with concerts, celebrities and comedians at special events. “We are ...

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