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Business, Finance, Occupation & Industry

The Comeback Kid: Economist Diane Swonk Takes a Closer Look at the U.S. Consumer

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By Business Wirevia The Motley Fool

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The Comeback Kid: Economist Diane Swonk Takes a Closer Look at the U.S. Consumer

CHICAGO–(BUSINESS WIRE)– In the April issue of Themes on the Economy®, Diane Swonk forecasts that “consumer spending is expected to pick up after a lull (due to sequestration) in the second quarter. Escalating wealth, easier credit, increased refinancing and a savings drain will more than compensate for persistently lackluster wage and income growth.” Many of those factors stem from rising home prices.

Mesirow Financial‘s chief economist notes that consumers who are ready to spend are not shy. “Spending on big-ticket durables, where pent-up demand is the greatest, is doing particularly well. Vehicle purchases, which take a lot more confidence to buy than an Easter bonnet, surged in March to the strongest pace since 2007.”

Swonk cautions not all consumers are benefitting equally. “Renters and younger consumers are feeling their debt burdens become onerous, while home owners are watching the level of their debt burdens ease… the differential between the two… is due to the spike in student loans.”

To learn more about why 2013 could still turn out to be the best year of the recovery for many consumers, read this month’s issue of Themes on the Economy®. Or watch a video. Archived issues can be found at mesirowfinancial.com.

Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees globally. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit its website at mesirowfinancial.com.

Mesirow Financial
Karen Nye, 312.595.7147

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Business, Finance, Occupation & Industry

Bank of America Names Adriana Kong Romero Tucson Market President

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By Business Wirevia The Motley Fool

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Bank of America Names Adriana Kong Romero Tucson Market President

TUCSON, Ariz.–(BUSINESS WIRE)– Bank of America today announced that Adriana Kong Romero has been named market president for Tucson and Southern Arizona.

Adriana Kong Romero

As market president, Romero will serve as the company’s enterprise leader in Tucson and Southern Arizona. She will work with company leaders across the region to help deliver a wide range of global financial services to more individuals and businesses locally as well as deepen relationships with existing customers. She will also oversee corporate social responsibility activities including philanthropic giving, community development lending and investing, environmental initiatives, diversity efforts, arts and culture projects, and employee volunteerism.

“Adriana’s breadth of experience in financial services will benefit our customers as she takes on this important leadership role in Southern Arizona,” said Bank of America Chief Executive Officer Brian Moynihan. “As Tucson market president, she will leverage our local resources and talented team to support client needs and serve the community.”

In addition to her market president role, Romero is a senior client manager for Bank of America Merrill Lynch’s Business Banking Group in Tucson and Southern Arizona, which provides strategic, integrated financial advice and solutions to small and mid-sized businesses. She has also worked on growing and expanding the healthcare industry focus for Arizona and the Business Banking Central Region.

Romero joined Bank of America 14 years ago as a teller. Before joining the Business Banking team, Romero served Premier Banking clients in Global Wealth and Investment Management.

In the community, Romero serves as a member of the board of directors of the Lohse branch YMCA of Southern Arizona. She is an active member of the Tucson Metro Chamber of Commerce and is part of their business expansion and retention committee. She is also a member of the University of Arizona Eller College Associates.

She is a graduate of the University of Arizona with a B.S. in finance and holds an M.S. in organizational management from University of Phoenix.

Last year, Bank of America employees in Tucson and Southern Arizona volunteered nearly 4,200 hours to local nonprofits and continue to play a major role in philanthropic initiatives, including United Way and Habitat for Humanity. More than $330,000 in philanthropic giving in 2012 helped nonprofit community organizations develop and grow, including those that provide basic human services such as hunger relief and housing assistance.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

The Resurgent Dollar Could Hurt S&P 500 Earnings

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By The Associated Press

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By STEVE ROTHWELL

NEW YORK — The dollar is rising again.

After a drop last autumn, the U.S. dollar has climbed 5 percent against other currencies over the past two months, reaching the highest level since August.

The main reason is the recovery in the U.S. economy. Although growth is still weak, the outlook for the U.S. is better than elsewhere in the developed world. Europe is stuck in a recession and struggling to control its debt. Japan is trying to push down the value of the yen to boost exports and end deflation.

A strong dollar helps Americans by making imports cheaper and curbing inflation, but it can also hurt U.S. companies. Technology companies have become increasingly reliant on overseas sales, and a stronger dollar reduces the value of their overseas earnings.

The impact of the dollar’s appreciation is starting to show up in earnings reports. The insurer Aflac, which does much of its business in Japan, says its earnings were hurt as the yen fell against the U.S. currency. Procter & Gamble, which makes Gillette razors and Crest toothpaste, said the stronger dollar was holding back its sales growth.

Many analysts predict that the dollar will continue to rise. Here’s a look at what a stronger dollar means for investors.

Tough for Tech and Materials Makers

A rising dollar could spell trouble for U.S. companies that make software and gadgets, as well as companies that make basic materials like aluminum.

The tech industry relies heavily on foreign sales for growth. About 56 percent of its revenue comes from outside the U.S., according to research by RBC Capital Markets. As the dollar strengthens, U.S. goods become more expensive overseas, discouraging buyers.

Investors worry that could slow business — and profits. As a result, technology companies are tied with materials makers as the worst industry in the S&P 500 this year, rising just 4.2 percent, compared with 10 percent for the overall market. Business software giant Oracle said its most recent earnings report on March 20 that the rising dollar lowered its earnings by about two percent.

The materials industry, which includes Dow Chemical and miner Cliffs Natural Resources, also gets more than half of its sales overseas.

“We would be wary of sectors that derive a lot of their sales overseas, given that fact that we expect the dollar’s strength to remain,” says Kristen Scarpa, an investment strategist at Barclays Wealth and Investment Management.

Commodity Concerns

When the dollar appreciates, it makes commodities like oil and metals — which are priced only in dollars — more expensive for customers who buy them with other currencies like the euro and the yen.

That can weaken demand for commodities, hurting the profits of the companies that produce them, like oil producers Exxon Mobil, …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Value Line, Inc. Announces Third Quarter Earnings

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By Business Wirevia The Motley Fool

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Value Line, Inc. Announces Third Quarter Earnings

NEW YORK–(BUSINESS WIRE)– Value Line, Inc., (NASDAQ: VALU) reported results for the third fiscal quarter ended January 31, 2013. The Company’s quarterly report on Form 10-Q has been filed with the SEC and is available on the Company’s website @www.valueline.com/About/corporate_filings.aspx.

During the nine months ended January 31, 2013, the Company’s net income of $5,095,000, or $0.52 per share compares to net income of $5,835,000, or $0.59 per share, for the nine months ended January 31, 2012. Net income for the third quarter of fiscal 2013 of $1,747,000, or $0.18 per share compares to net income of $1,844,000, or $0.19 per share, for the third quarter of fiscal 2012. Income before income taxes, which is inclusive of the non-voting revenues and non-voting profits interests from EULAV Asset Management (“EAM”), was $8,080,000 for the nine months ended January 31, 2013, as compared to $9,384,000 for the nine months ended January 31, 2012. Shareholders’ equity of $32,857,000 at January 31, 2013 compared favorably to shareholders’ equity of $32,699,000 at January 31, 2012. As of January 31, 2013, retained earnings were $32,272,000 and cash and short term liquid assets were $13,895,000, respectively.

Value Line, Inc. is a leading New York based provider of investment research. The Value Line Investment Survey is one of the most widely used sources of independent equity investment research. Value Line also publishes a range of proprietary investment research in both print and digital formats including research in the areas of Mutual Funds, Options and Convertible securities. Value Line‘s acclaimed research also enables the Company to provide specialized products such as Value Line Select, Value Line Special Situations, and copyright data, distributed under copyright agreements for fees, including certain proprietary ranking system information and other proprietary information used in third party products. Investment Management services are provided through its substantial non-controlling and non-voting interests in EULAV Asset Management, the investment adviser to The Value Line Family of Mutual Funds. Value Line‘s products are available to individual investors by mail, at www.valueline.com or through 1-800-VALUELINE, while institutional-level services for professional investors, advisers, corporate, academic, municipal and legal libraries are offered at www.ValueLinePro.com and at 1-800-531-1425 or 1-800-634-3583.

Cautionary Statement Regarding Forward-Looking Information

This report contains statements that are predictive in nature, depend upon or refer to future events or conditions (including certain projections and business trends) accompanied by such phrases as “believe”, “estimate”, “expect”, “anticipate”, “will”, “intend” and other similar or negative expressions, …read more
Source: FULL ARTICLE at DailyFinance