Friday, September 28, 2012

Mitt's Tax Cut Mulligan

For some unknown reason, Mitt Romney dialed back his tax-cut plan yesterday, the same day new reports showed incomes are dropping. Last month, median household income fell by about $500, and since Obama became president, income is down over $4,500. But under Mitt Romney’s 20 percent tax-cut plan, if he truly believes it and follows through with it, a married couple making $70,000 a year would save over $2,000. And take-home pay for a middle-class married couple earning about $140,000 -- with their tax rate dropping to 20 percent from 25 percent...

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Thursday, September 27, 2012

Just How Fragile is the U.S. Economy?

As if the looming "fiscal cliff" isn’t frightening enough, new results suggest it’s already doing very serious damage to the economy. And it’s only September.According to a new survey released by the Business Roundtable, corporate America’s view of the economy is as bleak now as it was in 2009, when the economy was struggling to emerge from recession.Also, the survey shows executives are now more likely to cut jobs over the next six months, and that companies are less likely to raise their capital spending.Largely the CEOs who participated...

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Wednesday, September 26, 2012

Is Focus Turning Back To Spain?

Global markets are lower today with Asian selling off overnight and Europe lower this morning.  The broad weakness in Europe comes amid continued protests in the streets of Madrid.  Spain's prime minister said the country would only seek a bailout if interest rates became too high for the economy.  The ECB has done its part to help keep a lit on yields, but comments like that are never well received in the bond market and Spanish yields rose 24 basis points overnight to hit 6.0% again.To make matters worse, the Bank of Spain said...

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Tuesday, September 25, 2012

2012 Tech Marketing Budgets, Trends

We are now publishing the results of our major annual Tech Marketing Benchmarks survey. Our tenth year of doing so!My thoughts today:1) Most importantly: The Marketing Transformation effort is accelerating. Many vendors have been at this for a few years but as we now do some accounting for  results,  we see as many false-starts as we do successes. And so there are renewed and bigger efforts underway to Transform.  The best evidence of this is in recent, aggressive marketing budget overhauls and  larger, more sweeping...

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More Earnings Warnings Trickle In

Global markets were mixed overnight while US markets are higher this morning.Asian markets were mixed overnight.  JPMorgan suggested that China has more room to cut rates while the China Securities Journal disputed the notion and said that the current monetary stance is appropriate.European markets were mostly lower this morning after a weak Spanish T-bill auction.  The arguments over the ECB's bond buying program continues with the ECB and Germany's Bundesbank seeking legal advice to verify the ECB's new program.  Also, Angela Merkel...

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Monday, September 24, 2012

IDC Tech Marketing Benchmark: Behind the Scenes

This week the IDC CMO Advisory Service will start revealing results from the 2012 Tech Marketing Benchmark. In this 10th annual study we found some surprises – as you might expect in this era of marketing transformation. In anticipation of the results, I thought I would share a bit of what goes on behind the scenes in the benchmark.First – what is a benchmark? The term was first used by early land surveyors to describe the fixed point against which all others were compared. Today, benchmarking means the systematic practice of comparing your business...

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Monday Morning Musings

Who would have thought we would wake up today to find AAPL down more than $10 and weighing on the market due to lackluster iPhone sales.  I'm not sure how accurate the numbers are.  I don't think they include the orders from the website which haven't been shipped yet.  It's hard to believe there was weak demand when every store I heard about was sold out and didn't know when and how much more they were getting of the hot new phone.  I still think when the first full quarter of sales are reported we will see record unit sales.Overnight,...

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Friday, September 21, 2012

Fortuner SUV Terbaik

Mobil Toyota Fortuner merupakan salah produk mobil SUV terbaik untuk saat ini, body-nya yang elegan dan gagah. Fortuner merupakan mobil yang saya idamkan untuk memilikinya, performa dan beragam kecanggihan yang ditawarkan sangat menarik sekali. Mobil ini sangat tangguh dan nyaman untuk dikendarainya. Pada tahun 2011 Toyota Fortuner membuat rekor yaitu Pertamina Fastron Euroasia Yepe Expedition merupakan sebuah ekspedisi lintas benua...

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S&P Poised To Finish The Week About Flat

The S&P 500 finished last week's rally at the 1465 level.  I was one of many who expected a mild pullback this week on profit taking, but the action has been more sideways than anything.  Currently the SPX sits at 1464, and is poised to finish the week about flat.Overnight Asian markets were mostly higher despite further comments about slowing growth in the region.  The IMF lowered its 2012 GDP growth target for S. Korea from 3.25% to 3.00%.  And Barclays wanted that China's Q3 GDP could come in below expectations.European...

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Thursday, September 20, 2012

Profit Taking and Slowing Growth

Global markets are lower in early trading on the heels of some weaker economic data in both Asia and Europe.  Asian markets were lower overnight after China's HSBC manuf. PMI came in at 47.8 which still signals contraction.  China's stock index fell -2.1% to its lowest levels since Feb. 2009, not a very good sign.In Europe, markets are also lower after manuf. PMI readings in several countries point to slower growth.  France had a disappointing reading (42.6) while the overall Eurozone PMI fell to 46.0 vs. expectations of 47.4. ...

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Wednesday, September 19, 2012

Japan Jumps On The QE Bandwagon

The markets are flattish in early trading after big gains in Asian overnight but fading enthusiasm as European trading got underway.Asian markets rose overnight after the Bank of Japan became the latest central bank to announce more stimulus.  The BoJ increased its asset purchase program by 10 trillion Yen to 80 trillion.  Japan and Hong Kong rose by more than 1% while China rose only 0.4%.Europe's markets are not higher this morning after an ex-ECB memeber commented that the bond purchasing program is not a silver bullet capable...

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Tuesday, September 18, 2012

Is A German Slowdown Next?

Global markets are lower again this morning after some profit taking after last week's rally as well as further signs of economic slowing.Asian markets were down across the board overnight.  Tensions are still running high in the East China Sea with Japan shutting factories amid worries about violent protests.  Additionally, Chinese housing data recently showed that 53 of 70 cities showed year-over-year declines.  That's a pretty big figure.  Also the Reserve Bank of Australia in its recent minutes noted a weakening of...

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Monday, September 17, 2012

Monday Morning Musings

Global markets are a bit sluggish this morning after another strong week last week amid investor enthusiasm over the last round of quantitative easing by the Fed.  Overnight, Asian markets were mostly lower led down by a -2.1% decline in China after some local Chinese governments reintroduced property price controls in an effort to weed out speculative buying and cool their property markets.  This has some investors questioning further easing measures by the PBOC.The Reserve Bank of India left its overnight interest rate unchanged at...

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Friday, September 14, 2012

Stocks Run For The Roses

The Fed came through yesterday and gave the market what it wanted in the form of additional quantitative easing. Markets around the globe rallied in response to the FOMC decision to purchase additional agency mortgage backed securities at a rate of $40 billion per month.Asian markets rallied strongly, with more than 2% gains in Hong Kong, Indonesia, S. Korea and Tawain. China lagged with a gain of only 0.6%. But not everyone was happy with the Fed's actions. The People's Bank of China suggested the Fed's action could spark global inflation. The...

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Thursday, September 13, 2012

Fed Decides On More QE

Here is their press release:Information received since the Federal Open Market Committee met in August suggests that economic activity has continued to expand at a moderate pace in recent months. Growth in employment has been slow, and the unemployment rate remains elevated. Household spending has continued to advance, but growth in business fixed investment appears to have slowed. The housing sector has shown some further signs of improvement, albeit from a depressed level. Inflation has been subdued, although the prices of some key commodities...

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The QE Conundrum

Global markets were mixed overnight as investors around the world await today's FOMC decision and whether or not the Fed will initiate more quantitative easing (QE) measures in the near-term.  Many strategists have said the anticipation of more QE is the reason that global markets have been rallying and if we don't get any there could be some disappointment.I have been on record as saying I don't think the odds are as high as everyone says, considering the stock market is at new highs and the Fed might like to keep some powder dry for when...

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Wednesday, September 12, 2012

German Court Upholds Euro Stability Mechanism (ESM)

Global markets are higher this morning on the heels of the German court upholding the constitutionality of the ESM bailout fund.  There are still some limitations to the fund, including capping Germany's liability at 190 billion euros, but it still looks good that the ESM will come to fruition.  Elsewhere in Europe rumors swirl that Spain is considering asking for aid from the ECB bond buying program, and that France is urging them to do so.Asian markets rallied overnight ahead of the German court ruling after Chinese Premier Wen suggested...

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Tuesday, September 11, 2012

Marketing Menus and Yelp Ratings.

A number of articles recently proclaimed the economic benefit of restaurant reviews. Not unusually, many of them cited identical assertions that could be traced back to the original press release.Being something of a sceptic regarding both the reporting of academic papers and the power of anonymous recommendation, I emailed one of the authors at Berkeley to try to understand if what was reported was what he had claimed. He pointed me to this article by way of a good summary.My logic is that better restaurants will be fuller because they are better...

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Moody's Warns Of Potential US Debt Downgrade

The market is higher this morning, likely bouncing back from yesterday's little drubbing.  But there hasn't been a lot in the way of market moving corporate news or economic data.The dollar index is lower after Moody's warned that it could downgrade the US debt rating if Congress doesn't pass some measures that "lead to specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP over the medium term".  I just hope Congress heeds their warning.  We all know what a disaster it was last...

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Monday, September 10, 2012

Monday Morning Musings

The markets are slightly lower in early trading after a lackluster overnight session abroad.Asian markets were mixed after a bevy of economic data was released in China.  Imports and exports both came in below expectations.  Industrial production was also lower than expected coming in at 8.9% yr/yr.  CPI was in line at 2.0% vs. a year ago.  The light data point to a continued slowdown  in economic growth, and lend themselves to the notion that the PBOC will keep its foot on the stimulus pedal.Material stocks continue to...

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Friday, September 7, 2012

China Pumps Up The Stimulus

Markets are mixed in early trading after gains in overseas markets.  Markets soared yesterday after ECB President Draghi announced his new bond buying program, the Outright Monetary Transactions (OMT).  Asian markets soared overnight with Hong Kong up by 3.1% and Shanghai spiking 3.7%, its best single day in three years.As speculated China announced some big stimulus plans yesterday and today.  Yesterday Beijing said that 18 cities in China would get subway systems.  Today the govt. laid out plans to build more than 1250 miles...

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Thursday, September 6, 2012

Draghi Lives Up To His "Whatever It Takes" Comment

Markets are sharply higher in early trading on the heels of some good economic data combined with comments out of the ECB that support Mario Draghi's recent statement that he will do "whatever it takes" to save the euro.The ECB will commit to buying unlimited amounts of sterilized bonds, acting strictly within its mandate and focusing on bonds with maturities of less than three years.  Countries will still need to first make a formal request for aid first.  But global markets are pleased with this commitment, and markets from Asian to...

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Wednesday, September 5, 2012

More Signs Of China Slowing

The markets are slightly higher in early trading despite across the board weakness in overseas markets.  The markets got a boost from a Bloomberg TV report that said the ECB is considering a bond purchase program that will be unlimited in size as long as bonds are sterilized.  But don't expect Germany to go along with this so easily.  Already Germany's Christian Democratic Party leader said that excessive ECB bond buying could prove inflationary.Elsewhere in Europe, Germany's PMI Services index was in-line while France's came...

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Tuesday, September 4, 2012

Tuesday Tidings

Sorry this post is a little later than normal today.  I had to fulfill my parental duties and take my kids to school for their first day of the new year.  Markets are down in morning trade following weakness in overseas markets.Asian markets were lower overnight after the HSBC PMI data for China over the weekend slumped to a 3-year low of 47.6.  China's stock index was lower overnight and fell to a 3 1/2 year low.  In Australia, the Reserve Bank held rates steady at 3.50% and reiterated its outlook for slowing China growth to...

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