Posts for category ‘Forbes’

Retailers in the United States during this year are beginning complicated in big problems. Starting next month, they faced a problem in the closing outlets, bankruptcy, and corporate takeovers due the significantly decline on their sales during the holiday season is the worst figure in the last 40 years.

Based on data from the International Council of Shopping Centers (ICSC), estimated, the Retailers will close retail outlets around 73,000 in the first quarter 2009. Talbot’s Inc. and Sears Holdings Corp. are a few companies will close some stores in several locations with lowest sales rate. In addition, more than dozen retailers, including the Circuit City Stores Inc., Linens N Things Inc., Sharper Image Corp., and Steve & Barry’s LLC are in bankruptcy protection (bankruptcy protection) in this year as the restriction on credit from FED and the companies become more careful agaisnt profit loss as impact on their low sales.

According to Burt Flickinger, Manager Director of Strategic Resource Group, investors will see retailers whom seeking bankruptcy protection in February when financial reported is launched. “You will see many department stores, specialty stores, discount stores, wholesale stores, drug store, and others, both national and multinational companies, will be out of business. The amount will rise to new concerns,” said Flickinger. By using data from the Bureau of Labor Statistics, ICSC also predicts, 148,000 stores already closed in 2008. Largest since 2001 where 151,000 stores were closed. According to the ICSC Chief Economist Michael Niemira, percentage of store growth will decrease 3 percent this year. In addition,  total outlets spread in any locations have the same conditions. Niemira says, about 73,000 locations also will be closed in the first quarter 2009. However, difficulties conditions by the retailers to provide benefits to the consumers. “If you shop, you may find discounts on many products,” said Patrick McKeever, a senior equity Analyst MKM Partners LLC. This strategy- to discount any goods is to increase their sales but so far the result showed the bad results. Read more »

Uncle Sam President, Mr. Bush had cancelled his arrangement because of AIG and the owner Eli Broad and Steven Udvar-Hazy out from the FORBES list Richest People and Panic Attacked are spread around the world especially in America. That is the highlight news and hot news we heard in recently. Lehman also becomes the topic as well as the AIG. Federal states decide to loan around 80 million USD to help the AIG from bankrupt.

FED intervention helps Major stocks in Wall Street rose significantly and Indonesian ISHG also got the positive impact this day.

Oil price, once more go to unpredictable, run upper $100 per barrel for October shipping but declined and rose again. We see the unpredictable oil price disturb the Net Importer from Third Countries. We cannot predict that oil price will lower than 100 USD per barrel, Indonesian Official said.

Dollar goes back to his habit after won against major currencies to make Japanese Bank of Japan enter to markets. Rupiah also declined 9600 IDR per USD last weekend closing time and today closing around 9475 IDR per USD.

FORBES launched top 400 richest people. Microsoft founder Bill Gates back again to the top with 57 million USD; and the second is Buffet with 50 million USD. The fantastic goes to 4^th to 6^th positions that belong to Wall Mart Families. AIG owner Eli Board and Steven Udvar-Hazy kick out from list because of million lost after AIG stock declined very significantly. Forbes uses the minimum wealth standard is 1.3 million USD, so only rich people who have upper than 1.3 million USD will be listed.

America-Pakistan conflict rose after American Alliance attacked Taliban in Pakistan territorial and the outspoken said that Bush decide to meet Pakistan President to calm down the conflict.

Tzipi Livni will put new record after Golda Meir James Hider 30 years ago if she wins the election to be first men in Kadima when Olmert resign from the party. Conflict between Iran-Israel rose after Iran President statement denied the holocaust on Jew in the past and denied Israel as the country.

Putin stated that Russian Military in Georgia is best move to reduce the constellation and claimed the Western Opinion that Putin decide to plan Soviet in future.

Those are hottest news that I have read from popular online magazine such as FORBES, LA Times, Reuters and Indonesian Online Newspaper KOMPAS.   

Although Lorilland Inc sales edged up from 1.05 million last year to $1.07 million this year, second quarterly report shows that their profit declined to $217 million from $239 million earlier year or declined on share $1.25 per share in the present compared with $1.37 per share last year.

Declined on their quarterly report are caused of two main reason, increasing on income sales and spin off from Loews Corporation. Income tax rate rose to 39.2 percent from 37.3 percent in year earlier.

MetLife Inc. reports second-quarter financial results on Tuesday after the market closes. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Turbulent markets and the plummeting dollar pummeled MetLife’s investment portfolio in the first quarter, shrinking the New York’s insurer’s profit by 37 percent.

The company’s car and home insurance division’s profit also fell during the first quarter because of more claims from insured damage. During the recent quarter, MetLife made some market moves, with a subsidiary of the insurance giant saying it will buy the residential mortgage business of a unit of First Horizon National Corp. for an undisclosed amount.

MetLife also announced plans to sell its 52 percent stake in Reinsurance Group of America Inc. to MetLife shareholders. Both transactions are expected to close in the third quarter.

BY THE NUMBERS: Analysts, on average, expect MetLife to earn $1.51 per share during the second quarter on revenue of $13.89 billion, according to a survey by Thomson Financial.

ANALYST TAKE: Friedman, Billings, Ramsey & Co. analyst Randy Binner said uncertainties surrounding credit and market exposures remain in the insurance industry. Generally speaking, “Market sensitivities will again affect insurance operating results, although to a lesser extent than in the first quarter,” he wrote in a research note.

WHAT’S AHEAD: MetLife continues to push itself into the mortgage business. Its deal with First Horizon includes all of First Horizon’s origination business outside of the bank’s home state of Tennessee, servicing some $20 billion in mortgages. More than 230 retail and wholesale offices across the U.S. will be transferred. Read more »