Cost Of Shutdown?
Cost of Shutdown?
Furloughed federal workers protest outside the U.S. Capitol $24 billion dollars is the answer. The 16 day long government shutdown over financing a healthcare reform for America's poorest citizens, that almost crashed the economy, cost the American Taxpayer $24 billion dollars. This was published in an estimate by Standard and Poor's. Another way to look at this is, it cost $1.5 billion dollars a day. The shutdown had a large affect on the economy, and it was estimated that fourth quarter GDP growth will be reduced from 3% to 2.5%. A breakdown of losses: $3.1 billion was lost to government services according to research firm IHS. $152 million was lost each day to travel spending by the U.S. Travel Association. $76 million per day was lost because the National Parks were closed. $216 million per day was lost in contractor wages in the D.C. area alone. The shutdown affected hundreds of thousands of federal workers. It affected small businesses and stalled many business loans. It put a halt on tourism in many areas and affected military families who rely on child services. Many federal workers will receive furloughed pay, but contractors will not. Financial predictions expect this to affect spending during the holidays. It is still amazing that our politicians would be so irresponsible to let the U.S. government shutdown for over two weeks. The future does not look promising either. The decision made last week to reopen the government is not a solution to the problem but merely a delay until January when the fight over spending and the debt ceiling will come down to another deadline. Hopefully our leaders in Washington can figure this out before then, as usual I am skeptical.
http://aclassasset.blogspot.com/2013/10/how-much-did-that-shutdown-actually-cost.html
More Posts from Investmentsandequity-blog and Others
I owe JP MorganChase $500,000 on my mortgage, but I decided, “You know what? Fuck this place! I’m just going to sell it for $50,000 and walk away with the money”, and under this new system, the guy who buys it doesn’t owe you guys shit!
Why is JP Morgan responsible for the liabilities of a company that they bought?
"Yahoo! Inc. (YHOO) will discuss the company’s financial results for the quarter ended September 30, 2013 via live stream video. In addition to analyst questions asked live during the event, Yahoo will accept questions in advance of the live stream with tweets tagged #YHOOearnings or by emailing yhooearnings@yahoo-inc.com. Questions received before noon Pacific/3:00 p.m. Eastern on Tuesday, Oct. 15, 2013, will be considered for the live stream with Yahoo’s CEO Marissa Mayer and CFO Ken Goldman.”
Q3 LIVE STREAM DETAILS:
WHEN: Tuesday, October 15 at 2:00 p.m. Pacific/5:00 p.m. Eastern
WHERE: The live stream will be broadcast from Yahoo’s Sunnyvale studio and will be available exclusively on Yahoo Finance at finance.yahoo.com. The video will be archived after the event at investor.yahoo.com and will be available for 90 days following the broadcast.
Netflix: Bearish Engulfing or Bullish Test of Support?
Is today’s move in Netflix bullish or bearish?
I can look at this chart and see:
1. a potential bearish engulfing candle (if today closes lower than yesterday’s low)
or 2. a test of the break out which can be bought and the support line as a stop to define risk.
Seven years after paying $26 billion for Hilton private equity giant Blackstone is taking the hotel chain public.
Amazon.com Inc. (AMZN) defeated International Business Machines Corp. (IBM)’s effort to reopen bidding for a $600 million Central Intelligence Agency cloud computing contract.
Continued
NEW YORK Oct 13 (Reuters) - A loss at JPMorgan Chase & Co’s private equity group signals a tough quarter for buyout shops, as global economic uncertainty and market declines hit the value of their investments.JPMorgan said on Thursday its private equity segment swung to a loss of $347 million...
In a tender involving global giants such as Total and China National Offshore Oil Corporation (CNOOC), Russian Rostec wants to set up the first oil refinery in the fast growing market of Uganda, one of the most business-friendly places in Eastern Africa.
The subsidiary of Russian state corporation Rostec - RT – Global Resources - will partner the VTB Capital, while Tatneft will take over the operational role.
Preliminary estimates suggest the cost of the country’s first oil refinery to be built in the city of Hoima will be around $3 billion, the Izvestia paper reports.
The Ugandan oil market is growing 10 percent annually. It’s one of the most politically-stable countries in Eastern Africa, with not local conflicts or warring neighbors, the paper quotes Karen Simonyan, the President of the Russian-African fund to support science, culture and business cooperation. Production from the refinery will go both to internal and external markets, which don’t have any refineries. Because the country is landlocked the oil products will carry a premium.
According to the tender 40 percent of financing will be provided by Uganda, while the company that wins will be responsible for the remaining 60 percent. More than 50 international bidders are interested in developing the refinery. The results of the tender will be announced in 2014, while construction process will commence in 2015, according to Daily Monitor.
New exploration will also take place at Alberta Lake that has estimated reserves from 6 to 8 million barrels of oil. The refinery is expected to provide 1.5 million tonnes of products a year by 2017, which will almost completely cover Ugandan needs. By 2020 production at he plant is expected to double.
Investment from Russia will be less than $1 billion, according to Andrey Korobov, the General Director of RT – Global Resources,Izvestiya reports. The consortium aims to recoup the money spent on the project in a short time due to the high oil price.
Rostec considered 25 companies as major rivals, including those from the UK, US and China. The main criterion for Uganda is the construction time. Ugandan representatives have only visited Russia to talk about the proposed agreement.
(Russian oil looks to Africa: Rostec bids for first $3bn Uganda refinery via rt.com)
“The entry of these leading financial institutions indicates the increasing attractiveness of the emerging consumer segment – the millions of people eager to join the middle class but who are not there yet,” said Andrew Kuper, LeapFrog Investments’ president and founder.
“There are 1.9 billion emerging consumers in LeapFrog’s target regions, and their spending power is forecast by McKinsey & Co to rise from $2 trillion today to $5 trillion in the coming decade. Financial services are crucial springboards for households and businesses, but access is very limited. LeapFrog backs the best companies to serve this vast and untapped market.”
Dominic Liber, who leads LeapFrog’s investments in Nigeria, said,
“Nigeria and the broader West African region have been priorities for LeapFrog from the start, and via this new fund we expect to be making new investments in leading Nigerian financial service companies.”
This is a review of the weeks news in the financial market as well as tips for investing and managing your financial assets.
134 posts