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Money & The Economy

News on Finance, Money, markets and the economy

Fannie Mae Redemption

WASHINGTON, Sept. 12, 2011 /PRNewswire/ — Fannie Mae (OTC Bulletin Board: FNMA) will redeem the principal amounts indicated for the following securities issues on the redemption dates indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption: Principal Amount Security Type Interest Rate Maturity Date CUSIP Redemption Date ...

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U.S. Exports Hit $178 Billion in July

WASHINGTON, Sept. 8, 2011 /PRNewswire-USNewswire/ — The United States exported $178 billion in goods and services in July 2011, an all-time high, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department. Exports of goods and services over the last twelve months totaled $2.005 trillion, which is 27.3 percent above the level of exports in 2009.  Over the last twelve months, ...

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Funded Status of U.S. Pensions Falls to 78.0 Percent in August

BOSTON, Sept. 7, 2011 /PRNewswire/ — The funded status of the typical U.S. corporate pension plan in August fell 5.6 percentage points to 78.0 percent as pension plans were affected by both falling assets and increasing liabilities for the second month in a row, according to monthly statistics published by BNY Mellon Asset Management. The typical plan is now at its lowest ...

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Zero JOBS! Obama Off to Camp David

14 million Americans remain unemployed in the U.S., a number that is unchanged from July. As a Bureau of Labor Statistics report stated today, the economy created exactly zero jobs for the entire month of August signalling the failure of the current administration’s economic policies. In reponse to the zero job growth, White House economic advisor Gene Sperling said, “This president ...

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Study Projects Major Growth for Heavy Crude Oil, Evaluates Potential and Challenges for Next 25 Years

HOUSTON, Sept. 1, 2011 /PRNewswire/ — Global production of heavy crude oil, led by new output fromCanada, Venezuela and the Middle East, will rise to 12.3 million barrels per day by 2020. This estimate is drawn from short-term and medium-term projections in Hart Energy’s Heavy Crude Oil: A Global Analysis and Outlook to 2035. The latest edition of the just-released annual study shows even greater production ...

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Demand for Bilingual Workers Creating Hundreds of New Jobs Along Border

Rio South Texas region lands another large call center. EDINBURG, Texas, Aug. 31, 2011 /PRNewswire/ — Citing demand for a bilingual workforce, Maximus, Inc. has just opened a new customer contact center in Edinburg, Texas, along the US/Mexico border. Up to 400 local job-seekers are expected to be hired by the end of 2012. Edinburg is one of the communities that make up Rio South ...

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New-Vehicle Retail Sales Volume Deteriorates as August Closes

WESTLAKE VILLAGE, Calif., Aug. 31, 2011 /PRNewswire/ — The August new-vehicle retail sales pace has declined sharply during the second half of the month, as the impact of negative variables—weak consumer confidence, delayed purchases in the hopes of bargains, and inclement weather—take hold, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 retail franchisees throughout the United States. ...

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Small Town Company Thrives Against All Odds

Fighting Diabetes and a Bad Economy at the Same Time SIERRA MADRE, Calif., Aug. 31, 2011 — In the quaint little town of Sierra Madre, one budding business just joined the ranks of companies such as Microsoft and Oracle. By helping hospitals all over the country, Wound Care Advantage has reached #316 on Inc. Magazine’s “500″ list of the nation’s fastest-growing companies. ...

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A Limited Edition T-Shirt for $50,000.00, Who Says the Economy Is Bad?

20 Collectible, Numbered T-shirts to Be Produced by 50K Tees with a Portion of the Proceeds Being Donated to a Charity of the Buyer’s Choice NEW YORK, Aug. 31, 2011 — When a performer asked designer Daniel J to make a T-shirt that no one had seen before, he had an idea for T-shirts so rare that only the economic ...

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New Mobile Technology Transforms How America’s Workers Save for Retirement

Innovative Financial Advisors pilot cutting-edge process resulting in dramatic improvements in retirement savings SANTA ROSA, Calif., Aug. 31, 2011 — According to The Employee Benefit Research Institute, in their 2011 Retirement Confidence Study, fully 70 percent of American workers say they are not where they need to be with their retirement savings. Less than half of workers (42 percent) report ...

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Sixty-Nine Percent of Business Owners Do Not Plan on Hiring Within the Next Year

NEW YORK, Aug. 31, 2011 /PRNewswire/ — Newtek Business Services, NASDAQ: NEWT, The Small Business Authority’s Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of approximately 1,100 respondents, one of the key findings from the August survey was that 69 percent of small business owners do not plan on hiring.  Two other questions in ...

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National Suit Drive Helps Unemployed Americans Suit Up for Success

Men’s Wearhouse Fourth Annual National Suit Drive Collects over 80,000 Clothing Items for Job Seekers HOUSTON, Aug. 30, 2011 /PRNewswire/ — For the fourth year, Men’s Wearhouse has held a successful National Suit Drive, the country’s largest collection of gently used professional attire. The company devoted the month of August to encouraging patrons to transform their unwanted businesswear into a second chance ...

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AT&T to Bring 5,000 Call Center Jobs Back to U.S. Following T-Mobile Merger Closing

DALLAS, Aug. 30, 2011 /PRNewswire/ — AT&T Inc. (NYSE: T) today committed that after closing its proposed merger with T-Mobile USA, it will bring back 5,000 wireless call center jobs to the United States that today are outsourced to other countries. Today’s commitment results from AT&T developing detailed analysis focused specifically on identifying opportunities with the T-Mobile merger to bring good-paying wireless call center jobs ...

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Consumer Confidence Index Drops to Lowest Since April 2009

Indicative of a recession, the Conference Board’s consumer confidence index dropped to 44.5 vs. last months 59.2. That represents the lowest showing of consumer sentiment since spring of 2009. The number was heavily weighed down by a very poor showing in the forward-looking Expectations Index portion of the total score. This represents  Says Lynn Franco, Director of The Conference Board ...

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U.S. Economic Growth to Fall Sharply Due to Uncertain Policies

SAN FRANCISCO and LONDON, Aug. 26, 2011 /PRNewswire/ — Economic growth in the U.S. over the next 12 months is expected to decline to around 2.0 percent, significantly lower than the 3.1 percent predicted as late as June 2011, according to the proprietary macroeconomic model of Mellon Capital Management, part of BNY Mellon Asset Management.    The slower growth expectation is discussed in a recent ...

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