Posts Tagged ‘business

06
Oct
14

The American Economy Is Growing? You Can Thank President Obama

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Bloomberg: Corporate U.S. Healthiest In Decades Under Obama With Lower Debt

Steve Wynn, founder of the Wynn Resorts Ltd. (WYNN) casino empire, once called President Barack Obama’s administration “the greatest wet blanket to business and progress and job creation in my lifetime.” Barry Sternlicht, chief executive officer of Starwood Property Trust Inc. (STWD), said Obamacare was driving down wage growth and “affecting spending and the desire to buy houses and everything else.” Corporate and economic statistics almost six years into his administration paint a different picture. Companies in the Standard & Poor’s 500 (SPX) Index are the healthiest in decades, with the lowest net debt to earnings ratio in at least 24 years, $3.59 trillion in cash and marketable securities, and record earnings per share. They are headed this year toward the fastest average monthly job creation since 1999, manufacturing is recovering and the U.S. has returned as an engine for global growth. The recovery, which stands in contrast to weak growth in Europe and Asia, has underpinned an almost threefold gain in the Standard & Poor’s 500 Index since March 2009.

“The U.S. is leading the way — we’re the only major economy with accelerating growth,” said Mark Zandi, chief economist in West Chester, Pennsylvania, for Moody’s Analytics Inc. and a registered Democrat who has advised both the Obama administration and Senator John McCain, a Republican. “Obama deserves some credit for that, but he probably won’t get it.” Barring any major disruptions, the economy is setting up for Obama to leave office on a high note, said Douglas Brinkley, a presidential historian and professor at Rice University in Houston. “History will eventually show that Obama inherited the Great Recession and resuscitated the economy,” Brinkley said in an interview. One example is General Motors Co. (GM), which last week regained its investment-grade debt rating from Standard & Poor’s only five years after the government-backed bankruptcy. Obama’s $49.5 billion bailout of the automaker in exchange for taxpayers owning 61 percent of the company kept it from being liquidated, an outcome that could have crippled parts suppliers and economies throughout most of 50 states, not just the Midwest. In the broader economy, consumers are buying again and homebuilding is increasing. The unemployment rate has declined to 6.1 percent, the lowest since 2008. The economy expanded at a 4.6 percent annualized rate in April through June. Obama’s 2010 health-care program will hold down consumer prices for years to come as millions of Americans obtain coverage, BNP Paribas SA and Credit Suisse Group AG said. The “Medicare cost miracle” resulted at least in part from Obama’s Patient Protection and Affordable Care Act, Nobel-Prize winning economist Paul Krugman wrote in a Sept. 1 New York times article.

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9.26.14

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Steve Benen: Economic Growth Improves To Eight-Year High

The preliminary figures on second-quarter GDP looked good; the revised tally looked better; and the final report looks even better still. The U.S. economy grew at a 4.6% annual pace in the second quarter, matching the best performance since the recession ended in mid-2009. The increase in real gross domestic product was revised up from 4.2%, mainly because of higher exports and business investment, the Commerce Department said Friday. Americans also spent more on health care, but the gain was offset by lower spending on other services. Economists polled by MarketWatch had predicted GDP would be revised up to a seasonally adjusted 4.7%. Consumer spending, the main source of economic activity, was unchanged at 2.5% growth. The biggest gains came in business investment, a good sign for the economy in the months ahead. To provide some additional context, 4.6% growth is tied for the best quarter since the start of the Great Recession.

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03
Jul
14

Special Guest

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1776DC: We’ve got a special guest mentor visiting our #startups today! @BarackObama

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1776DC: Welcome to 1776 @BarackObama!

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1776DC: .@BarackObama talking #jobs and growing the #economy at 1776

24
Jun
14

President Obama’s America

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Supply Chain 24/7: US Manufacturing Increases At Fastest Rate In 4 Years

June data pointed to a robust and accelerated improvement in the performance of the U.S. manufacturing sector. At 57.5 in June, up from 56.4, the seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers’ Index™ (PMI™)1 indicated the strongest upturn in overall business conditions since May 2010. The latest rise in the headline PMI was driven by the fastest output and new orders growth for just over four years. Manufacturing output growth picked up for the third month running to its strongest since April 2010.

Moreover, the average pace of expansion in Q2 was the steepest for any quarter since the survey began in early-2007. Survey respondents generally attributed rising production volumes to improving domestic economic conditions, increased client confidence and a strong pipeline of outstanding work. In line with the trend for output, total new business volumes increased at a sharp and accelerated pace during June.

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19
Jun
14

The President’s Day

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President Barack Obama speaks during a meeting of the President’s Export Council at the White House. Flanking President Obama are Boeing CEO Jim McNerney and Xerox CEO Ursula Burns. The President’s Export Council advises the President on policies and programs that effects US trade performance and promote export expansion

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President Barack Obama speaks about the situation in Iraq, in the Brady Press Briefing Room of the White House in Washington. President Obama said the US will send up to 300 military advisers to Iraq, set up joint operation centers

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President Barack Obama awards the Medal of Honor to retired Marine Cpl. William “Kyle” Carpenter, in the East Room of the White House in Washington. Carpenter took a blow from a grenade to protect a fellow Marine in Afghanistan, sustaining major wounds including the loss of his right eye. He is the eighth living recipient to be chosen for the Medal of Honor for actions in Iraq or Afghanistan

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Retired Marine Cpl. William “Kyle” Carpenter smiles as President Barack Obama speaks at a ceremony awarding Carpenter the Medal of Honor for conspicuous gallantry

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15
Jan
14

A Meeting Of Education And Business

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President Barack Obama introduces Maria Contreras-Sweet as his choice to be the new administrator of the Small Business Administration during an announcement ceremony in the Eisenhower Executive Office Building of the White House.

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Jim Kuhnhenn: Obama to nominate Calif. businesswoman to lead SBA

Maria Contreras-Sweet, the founder of a Latino-owned community bank in Los Angeles who was born in Guadalajara, Mexico, has a history of working with small businesses and has been an advocate for Hispanics. As California’s secretary of the state’s Business, Transportation and Housing Agency from 1999 to 2003, she was the first Latina to serve as a cabinet secretary in the state and oversaw 40,000 state employees and a $12 billion budget.

In 2006, she founded ProAmérica Bank, a financial institution that aimed to assist small and mid-size businesses. Before that, she was president and co-founder of a private equity firm that provided capital to small California businesses. Contreras-Sweet would become the second Hispanic in Obama’s second term Cabinet. The other is Labor Secretary Thomas Perez. She would also become the eighth woman in Obama’s current Cabinet.

More here

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First Lady Michelle Obama gestures while speaking in the State Dining Room of the White House where she hosted a screening of “The Inevitable Defeat of Mister and Pete,” a coming of age story about two inner-city youth who are left to fend for themselves in the Bronx.

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Lesley Clark: First Lady Joins With Alicia Keys To Talk Education

First Lady Michelle Obama has earned accolades — and few brickbats — for her campaigns to improve the American diet and get people off the couch. She’s also championed hiring opportunities for returning veterans. And now, the first lady says, she’s adding another initiative to her roster: helping achieve President Obama’s goal that the U.S. by 2020 will have the highest proportion of college graduates in the world. (It once was No. 1 but has fallen to 12th, she said.) Still, Obama, who turns 50 on Friday, says she’s not giving up her “Let’s Move,” food and exercise program or her “Joining Forces” campaign to help military veterans and their families.

“Nothing is going away, we’re just adding more on,” Obama said Wednesday, talking to a room full of educators at the White House. “I’m going to be doing my very best to promote these efforts by talking directly with young people. That’s my focus. Everybody else is going to be talking about resources, but the one thing I can bring to this is the message that we can give directly to young people.” Obama’s remarks came after a White House screening of “The Inevitable Defeat of Mister and Pete,” produced by the singer, Alicia Keys, who preceded Obama at the lectern in the State Dining Room.

More here

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In other news:

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Smithsonian political history curator Lisa Kathleen Graddy, left, and museum specialist Bethanee Bemis, show off First Lady Michelle Obama’s second inaugural gown in a storage area at the Smithsonian Museum of American History. The White House is lending Obama’s ruby-colored chiffon gown made by designer Jason Wu to the National Museum of American History for a year to coincide with the 100th anniversary of the Smithsonian’s first ladies exhibition. It will be paired with Obama’s shoes designed by Jimmy Choo.

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Smithsonian political history curator Lisa Kathleen Graddy shows off First Lady Michelle Obama’s second inaugural gown in a storage area at the Smithsonian Museum of American History

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18
Sep
13

The President and First Lady’s Day

Text of the President’s remarks here

…. introduced by Boeing CEO James McNerney

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Text of the First Lady’s remarks here

First Lady Michelle Obama speaks on food marketing to children at an event in the State Dinning Room at the White House

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In case you missed it in the comments today, a beautiful story from Dakota:

Good Afternoon TOD Family.

Off the topic at hand, but I have been trying to post this uplifting story all day keep getting interrupted by less important things like…work and a stupid fire drill with a loudly blasting horn, that SOME folks didn’t seem to think applied to them!!! Anyway, now that’s off my chest…here’s my story.

I work for a hospice company and one of duties is supervising home health aides. All of our aides must be certified and are paid at a higher rate, so the good news about minimum wage and overtime protection doesn’t really apply to them. Whenever we get a new client, an entire team is at their disposal, aides, doctor, nurses, volunteers if desired, social worker and a chaplin. We actually have two chaplins.

A couple of weeks ago, one of our chaplins, whose office is right next to mine put up a photo of President Obama. It’s the one in front of the capitol building when he was campaigning in 2008. Now, I was surprised at this because not only are we not supposed to to talk politics in the office (HA! Just about all of the people who work in this office are PBO supporters), but the owners of our company are religious right-wingers who have held fundraisers for our rethug governor. Now to be fair, the CEO has always been very supportive of me and I do appreciate that. Last Wednesday, she came to our office because we finally had this stupid audit that they’ve been driving us nuts with it for a year! Well, wouldn’t ya know she parks her stuff right in the chaplin’s office right in front of this 8×10 photo of the President on her desk! I thought to myself, “Oh, shit,” but nothing was said.

Turns out that the chaplin, who is female, was instrumental in starting a hospice in Honolulu, HI…the very same one that took care of the President’s grandmother. The photo is a copy of one that was given to the hospice aide and signed by the President. The inscription reads “Thank you for taking such good care of my Tutu. Barack Obama.” Someone at the hospice, sent the photo to the chaplin a long time ago, but she decided she was going bring it into the office and keep it on her desk. Her feeling is that this is was a wonderful tribute to hospice workers and that no one would dare part their lips to complain and no one has. I really like this chaplin…she’s a sweetheart.

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We’ll catch up with newsie stuff in the morning – for now, chat away!

PS Huuuuuuge thanks again to LL for today’s wonderful post.




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