NIGHTMARE AVERTEDJun 4th 2009
Summary
The article talks about a new Hard Rock Hotel and Casino that has been opened in Macau with City of Dreams’ owner, James Packer and Lawrence Ho. It was rumoured that Ho’s casino will be declaring bankruptcy since one of the chains has already declared bankruptcy. It was a surprise to people of the new project. Panic began to ebb in March as the contraction in revenues eased, asdid concerns over bankruptcy. The price of the shares of Las VegasSands jumped sevenfold, and those of its rivals rose strongly too. At the opening of the new casino, thousands of people lined up in the heat in Macau to go into the casino.
Connection
The type of competitions a firm faces will influence the price that is charged for the product. it will also affect the amount of the product available on the market. In idustries characterized by perfect competition, there are many firms producing only a small percentage of the total output. With the large numbers of firms, no individual firm has control over the price of its products and must accept the market price as it is the same for the Ho family. Perfect competition has enable them to build on the new casino because of the market price to the casino.
conclusion
The article say that the new Hard Rock Hotel and Casino's license was 900million which was 21percent to the total cost for building the new hotel and casino. Market competition might have led to the new hotel and casino but it is likely not to survive wiht the amount of money being spent on the new casino. Even with many people lining up to go into the new casino, the competitors were also very busy and full later after the opening of the new casino meaning that the long line up was just for the people's curiosity. Perfect competition doesnt seem to be working for Ho.
Sunday, May 3, 2009
Weekly Immigration Wire: Legalize the undocumented, help fix the economy
By The Media Consortium | April 16, 2009
by Nezua, TMC MediaWire Blogger
The article talks about how Immigrants in the US are usually deported from the US when accuse of a crime without a fair trial to prove their innocence.
"As the country moves forward on comprehensive immigration reform," they write, "We must uphold American values by ensuring that all people, no matter where they come from, are afforded fundamental rights, including the right to a fair day in court before being deprived of liberty and the right to be free from inhumane conditions of confinement. As a nation, we cannot stand for anything less."
The article talks about how Immigrants in the US are usually deported from the US when accuse of a crime without a fair trial to prove their innocence.
CONNECTION
The chapter has a section that talks about immigration policies and how they effect the economy. Immigration policies include objectivesof recruiting qualified worker with needed skills by the employers. The policies usually encourages workers to settle in areas tha are underpopulated and short of needed human resources. This is aimed at reducing the geographic dimesion of structural unemployment.
The Economy and Immigration.
Seeing as to not having an arrest record is one of the qualifications of becoming an immigrant in the US, the government should not be deporting people for being accused of crimes without fair court sessions. Studys have shown that when a company losses one employee, they have to spend more than $50,000 for a replcement of that employee. They have to spend money on advertisment, training and at the same time lossing money on the work that the new employee will be doing since the employee has not yet adapted to the new enviroment their productivity is lower than that of an old employee. The US government should give fair hearing to immigrants to see to not lossing qualified workers in the work force.
By The Media Consortium | April 16, 2009
by Nezua, TMC MediaWire Blogger
The article talks about how Immigrants in the US are usually deported from the US when accuse of a crime without a fair trial to prove their innocence.
"As the country moves forward on comprehensive immigration reform," they write, "We must uphold American values by ensuring that all people, no matter where they come from, are afforded fundamental rights, including the right to a fair day in court before being deprived of liberty and the right to be free from inhumane conditions of confinement. As a nation, we cannot stand for anything less."
The article talks about how Immigrants in the US are usually deported from the US when accuse of a crime without a fair trial to prove their innocence.
CONNECTION
The chapter has a section that talks about immigration policies and how they effect the economy. Immigration policies include objectivesof recruiting qualified worker with needed skills by the employers. The policies usually encourages workers to settle in areas tha are underpopulated and short of needed human resources. This is aimed at reducing the geographic dimesion of structural unemployment.
The Economy and Immigration.
Seeing as to not having an arrest record is one of the qualifications of becoming an immigrant in the US, the government should not be deporting people for being accused of crimes without fair court sessions. Studys have shown that when a company losses one employee, they have to spend more than $50,000 for a replcement of that employee. They have to spend money on advertisment, training and at the same time lossing money on the work that the new employee will be doing since the employee has not yet adapted to the new enviroment their productivity is lower than that of an old employee. The US government should give fair hearing to immigrants to see to not lossing qualified workers in the work force.
Friday, April 17, 2009
Bernanke Says Credit Crisis Damage Likely to Be ‘Long-Lasting’
By Craig Torres
Summary
Federal Reserve Chairman Ben S. Bernanke said the collapse of U.S. lending will probably cause “long-lasting” damage to home prices, household wealth and borrowers’ credit scores. The U.S. central bank has cut the marked lending rate to as low as zero and taken unknown steps to stem the credit crisis through direct support of consumer finance and mortgage lending. The Fed plans to purchase as much as $1.25 trillion in agency mortgage-backed securities this year to support the housing market and is providing financing for securities backed by loans to consumers and small businesses
Federal Reserve Board approved rules last July to toughen restrictions on mortgages, banning high-cost loans to borrowers with no verified income or assets and curbing penalties for repaying a loan early. The Fed action came after members of Congress and other regulators urged the Fed to use its authority to prevent abusive lending.
Connection
The branching banking in Canada would have been a better system to responding to the loan demands of large borrowers due to the ease of transferring assets from the other branches. A bank that has a number of branches spread over a wide area is likely to be more stable than a bank with only one office, because it will have more diversified assets and liabilities. Funds can be transferred between branches to account where they are need the most. If each bank is independent, it is likely that the majority if its loans are in one are or are concentrated in certain industries. This can be more risky from the point of view of bank stability.
Conclusion
The cutting down of lending rates to as low as zero and taking steps to stem the credit crisis by directly supporting consumer finance and mortgage lending will encourage people to lend more money for their mortgage payments instead of caving out from paying their loans. This will encourage the circulation money in the banks and will eventually encourage people to borrow money for other purposes like their small business which will also strengthen people’s faith in the banks again. Although this will not come soon, it will eventually come as time and the financial crisis begins to turn to the better.
By Craig Torres
Summary
Federal Reserve Chairman Ben S. Bernanke said the collapse of U.S. lending will probably cause “long-lasting” damage to home prices, household wealth and borrowers’ credit scores. The U.S. central bank has cut the marked lending rate to as low as zero and taken unknown steps to stem the credit crisis through direct support of consumer finance and mortgage lending. The Fed plans to purchase as much as $1.25 trillion in agency mortgage-backed securities this year to support the housing market and is providing financing for securities backed by loans to consumers and small businesses
Federal Reserve Board approved rules last July to toughen restrictions on mortgages, banning high-cost loans to borrowers with no verified income or assets and curbing penalties for repaying a loan early. The Fed action came after members of Congress and other regulators urged the Fed to use its authority to prevent abusive lending.
Connection
The branching banking in Canada would have been a better system to responding to the loan demands of large borrowers due to the ease of transferring assets from the other branches. A bank that has a number of branches spread over a wide area is likely to be more stable than a bank with only one office, because it will have more diversified assets and liabilities. Funds can be transferred between branches to account where they are need the most. If each bank is independent, it is likely that the majority if its loans are in one are or are concentrated in certain industries. This can be more risky from the point of view of bank stability.
Conclusion
The cutting down of lending rates to as low as zero and taking steps to stem the credit crisis by directly supporting consumer finance and mortgage lending will encourage people to lend more money for their mortgage payments instead of caving out from paying their loans. This will encourage the circulation money in the banks and will eventually encourage people to borrow money for other purposes like their small business which will also strengthen people’s faith in the banks again. Although this will not come soon, it will eventually come as time and the financial crisis begins to turn to the better.
Tuesday, March 24, 2009
EI remedies too little, too late: Opposition
Tue Mar 24, 12:21 PM
Julian Beltrame, the Canadian Press
The article talks about EI and how many people who have lost their jobs are eligible for EI. The current government claim to have set up procedures that are going to make it easy for people to apply and receive EI. The opposition agues that the government has not taken enough measures because that number of people receiving EI is so much lower than that of the number of those who have lost their jobs. The opposition is worried about those people without jobs who are not receiving EI. Is the government doing enough to ensure the well being of those without jobs and how the loss of jobs affecting the people at large.
Connection
People are currently losing their jobs and have opted to saving the little money they have. Living on EI has proven too hard when others are not eligible to receive EI. People have tucked away their money because they expect to be more people losing their jobs in the near future. People are no longer consuming as much as they were the past years. With the loss of supply of money to spend and saving the little they had the GDP is bound to go because investors will not be willing to invest in the falling Canadian economy.
Help is on the Way
Human Resources Minister Diane Finley announced a $60-million program to hire more workers to help speed delivery of EI cheques. She told reporters the department has already brought back retired staff and re-assigned others from other departments to meet the higher load of applicants. The government has proven to be doing something about the large number of EI application being sent to them because the number of people who were receiving EI in January, up 23,700 from December and up 104,000 from last February. Even thought employment is bound to get worse, the government is willing to make some changes to accommodate those people who have been laid off.
Tue Mar 24, 12:21 PM
Julian Beltrame, the Canadian Press
The article talks about EI and how many people who have lost their jobs are eligible for EI. The current government claim to have set up procedures that are going to make it easy for people to apply and receive EI. The opposition agues that the government has not taken enough measures because that number of people receiving EI is so much lower than that of the number of those who have lost their jobs. The opposition is worried about those people without jobs who are not receiving EI. Is the government doing enough to ensure the well being of those without jobs and how the loss of jobs affecting the people at large.
Connection
People are currently losing their jobs and have opted to saving the little money they have. Living on EI has proven too hard when others are not eligible to receive EI. People have tucked away their money because they expect to be more people losing their jobs in the near future. People are no longer consuming as much as they were the past years. With the loss of supply of money to spend and saving the little they had the GDP is bound to go because investors will not be willing to invest in the falling Canadian economy.
Help is on the Way
Human Resources Minister Diane Finley announced a $60-million program to hire more workers to help speed delivery of EI cheques. She told reporters the department has already brought back retired staff and re-assigned others from other departments to meet the higher load of applicants. The government has proven to be doing something about the large number of EI application being sent to them because the number of people who were receiving EI in January, up 23,700 from December and up 104,000 from last February. Even thought employment is bound to get worse, the government is willing to make some changes to accommodate those people who have been laid off.
Monday, February 16, 2009
The economy
Britain's fallen star
Feb 12th 2009 | LONDON AND SWINDON
From The Economist print edition
The news goes from bad to ghastly. How awful are Britain’s economic prospects?
The article talks about Britain's recession. The British economy had appeared to be a well-run economy, expanding steadily for 16 years without inflationary strains, now looks a Heath Robinson affair. The recession was fuelled by debt both public and private and involved a star role for City bankers currently vilified for their excesses. Gordon Brown’s boast of ending boom and bust has returned to haunt the prime minister. The recession has led to people being laid off work because the companies cannot afford to keep their employees. Employees are now wondering what to do without their jobs.
Seasonal Unemployment
Now that Britain is in a recession and employees are being laid off with nothing to do. The employees should look for part-time jobs that will give them a source of income. Even thought you get a job in a field that does not interest you, you hold onto it before you find a new job in your field of interest. This will help you create a network and will add to your list of references. This will also show you interviewer that you are hard working. Even when you do not like the job you are considering, apply and get an interview. You should make sure that you dress and have the same attitude as one that you would have when you are going to an interview of a job that is of interest to you. This might lead you to a job of your dreams in the same company if you prove to be a good employee.
Roaming charges are like Robin Hood, says Syed Kamall
Thursday, 11th January 2007
The article talks about Mr Syed Kamall member of the European Parliament of London and his response to “Brussels, 11th January 2007 High prices for the rich have offset mobile phone costs for the man” on the increasing roaming fees that that are being applied on top of the high priced telephone charges. He says that the roaming fees should not be applied because the telephone companies are targeting the rich people who will have to pay for those roaming fees since they are the only ones that travel around the world for pleasure and business trips. The telephone companies have forgotten the unintended consequences of applying roaming fees will cause to the consumers with lower incomes.
Unintended Effects.
The application of roaming charges will send the telephone bills to the rooftop. The new roaming charges which were targeting the rich are now affecting the low incomers and will soon be unable to pay for their phone bills. The telephone companies should lower the roaming charges. Understanding that the telephone companies were targeting wealthy people who travel for leisure and business will also affect other telephone users. The telephone plans keep getting more expensive for people to afford, the addition on the roaming fees to telephone charges will be too much for people with low incomes. The telephone companies do not seem to have thought about the effect of the roaming fees on their other users. Rumors has it that the price for telephone plans is going to increase more which will make the telephone companies lose potential customer who were paying for the phone at high prices. The telephone companies should find other ways to make the wealthy pay higher charges without affects their other customers.
Thursday, November 20, 2008
CARS IN EMERGING MARKETS
A global love affair
Nov 13th 2008From The Economist print edition
Emerging markets are the car industry’s big hope. But it won’t be an easy ride, says Matthew Symonds
The latest car suveys show that the American makes of cars have been declining while that of India, Brazil, china and Russia are increasing. The makes in the US that seem to be decling lately because of the recession have started merging with other car brands inorder to save their company. While this sales have been declining, the car sales in India and Africa are going high despite the recession in the US. This is because the people in the US take up loans to pay for their cars but the car dealer in the India and Africa only allow very small car loans. So the people have to save up and pay for the car before they get it. The big number of loans taken by US companies are too high now and some are thinking about bailling out. The only way they can save their brand and companies is by merging with other companies.
The Car Market
The fact that the US's recession has caused a big fall on the market showed that the car industry was likely to hit rock bottom for cars are grouped a as part luxury goods. The decline in the US care market seems to be providing new market for car companies such as the BRIC to sell more. The recent research shows that the Bric will be selling more that 30% its normal sales because to the decline in the US makes. The Brics who had the worst care sales in 1992 seems to proving otherwise because of where it is located. Being located in India and parts of Africa, it does not does not give big car debts like the makes in America do. Many of its customers do not have debts from them and the ones who do are very little. The joining of the car companies joining will create a monopoly in the market. This may effect car prizes, since they wont have any competititors in the market after the merging. The government may have to come in and regulate the car prizes since the car companies will be trying to make up for the loses that they are making now that the recession is taking place. The government should watch the car companies as they are going through this period to protect the pockets of the people who need cars.
A global love affair
Nov 13th 2008From The Economist print edition
Emerging markets are the car industry’s big hope. But it won’t be an easy ride, says Matthew Symonds
The latest car suveys show that the American makes of cars have been declining while that of India, Brazil, china and Russia are increasing. The makes in the US that seem to be decling lately because of the recession have started merging with other car brands inorder to save their company. While this sales have been declining, the car sales in India and Africa are going high despite the recession in the US. This is because the people in the US take up loans to pay for their cars but the car dealer in the India and Africa only allow very small car loans. So the people have to save up and pay for the car before they get it. The big number of loans taken by US companies are too high now and some are thinking about bailling out. The only way they can save their brand and companies is by merging with other companies.
The Car Market
The fact that the US's recession has caused a big fall on the market showed that the car industry was likely to hit rock bottom for cars are grouped a as part luxury goods. The decline in the US care market seems to be providing new market for car companies such as the BRIC to sell more. The recent research shows that the Bric will be selling more that 30% its normal sales because to the decline in the US makes. The Brics who had the worst care sales in 1992 seems to proving otherwise because of where it is located. Being located in India and parts of Africa, it does not does not give big car debts like the makes in America do. Many of its customers do not have debts from them and the ones who do are very little. The joining of the car companies joining will create a monopoly in the market. This may effect car prizes, since they wont have any competititors in the market after the merging. The government may have to come in and regulate the car prizes since the car companies will be trying to make up for the loses that they are making now that the recession is taking place. The government should watch the car companies as they are going through this period to protect the pockets of the people who need cars.
Subscribe to:
Posts (Atom)