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The Nervousness Remains
http://www.msnbc.msn.com/id/32852607/ns/politics-washington_post/
Economists are seeing signs of recovery, investors are fairly upbeat, and oil traders too think that the situation is getting better; then why is the average individual thinking differently?
One does not need a survey to gauge the mood of the average American, though many have been done to assess the same. All findings are similar; that is more than half of America is nervous about their job situation. If they are still holding a job, they worry that they may not have it much longer, and if they do not have a job, worry about when they will get one and what will happen if their benefits expire.
Despite various economic indicators saying that the stimulus money is showing results, not too many Americans feel the same way. Given the battering the average man has taken over the past year, it is not surprising that these worries remain.

Big Car or Small Car?

http://www.msnbc.msn.com/id/32569655/ns/business-businessweekcom/

It is the quintessential battle between the heart and the head. The head says, “Buy the small car”, but the heart wants the big one. During times when discounts are ruling or gas prices are sky rocketing, the heart gives way to the head and the smaller; fuel efficient cars go out of the dealers showrooms. The moment such artificial demand boosters go away, big again rules the road.

This dilemma puts auto manufacturers too in a fix. They plan new models three to four years ahead. In the recent history we have seen gasoline prices go beyond $4 a barrel. This had prompted most manufacturers to line up a host of smaller, more fuel efficient and even hybrid cars. Will the consumer choose them over the large, road dominating SUV? Time will tell.

Us Deficit To Top $1.58 Trillion This Year

http://www.thestreet.com/story/10589951/1/citi-raises-foreclosures-prevention.html?cm_ven=GOOGLEN

Citigroup has announced that it has boosted its foreclosure prevention efforts and helped 108,000 mortgage holders across the US to avoid foreclosure in the second quarter. The 30% quarter on quarter increase in foreclosure prevention was driven by the company’s efforts to provide some relief to the struggling house owners. Citigroup has expanded its loss mitigation staff by 1,400 since the beginning of this year. According to the latest data revealed by the Mortgage Bankers Association 13% of American homeowners having a mortgage have fallen behind payments or are in foreclosure. Also the record increase in delinquencies is driven by the borrowers with traditional fixed rate mortgages and is largely due to the increased unemployment in the region.

Clunkers Progam Boosts Car Sales Rate To Double

http://money.cnn.com/news/newsfeeds/articles/djf500/200908060940DOWJONESDJONLINE000629_FORTUNE5.htm

The US government’s cash for clunkers program has boosted the country’s car sales in the past two weeks to double the rate witnessed in the first half of the current year. According to Edmunds.com, the annualized US car sales stood at 19.6 million in the past two weeks as compared to 10-million witnessed for the first half of 2009. However, the sharp increase in car sales is unlikely to continue for long. Car owners are currently rushing to be part of the cash for clunkers program and get the announced benefits. The percentage of car sales that involve a trade in has increased from 39% before the launch of the cash for clunkers program has risen to 51% following its launch. But it is difficult to say whether the car sales will continue to rise at such a pace once the funds assigned for the clunkers program dry up.

When You Are Not Big Enough

http://news.yahoo.com/s/ap/20090727/ap_on_go_ot/us_down_on_main_street;_ylt=AhLXlJMVUr3zGlwCWutxMpayBhIF;_ylu=X3oDMTM4NDQ1c3VyBGFzc2V0A2FwLzIwMDkwNzI3L3VzX2Rvd25fb25fbWFpbl9zdHJlZXQEY3BvcwMyBHBvcwM1BHB0A3NlY3Rpb25zX2Nva2UEc2VjA3luX3RvcF9zdG9yeQRzbGsDYXBpbnZlc3RpZ2F0

As it now appears too many, particularly small businesses that are fighting a daily battle to prevent the shutters on their shops and businesses from being drawn down permanently, they are not “too big to fail”. While large banks and insurance companies received billions of dollars in federal aid as they were believed to be too large to be allowed to close down, the story is quite different for the small business owner.

So then, what is the fault of the small, private, business enterprise? The owner driven café, sports good shop, gym or graphic designing company? The answer lies in their size – “not big enough!” These small enterprises account for a large share of employment, and while media focus remains on the number of jobs lost when a GM factory closes, nobody really highlights the plight of the waitress who lost her job at the neighborhood café, as the owner could not afford the rent any longer and had to close down.

Housing Construction Rises In June

http://www.latimes.com/news/nationworld/nation/la-na-housing-starts18-2009jul18,0,7089520.story

Construction of new houses and apartments increased by an unexpected 3.6% in June this year, according to the figures released by the Commerce  Department. The number of new homes and apartments being constructed rose to a higher than expected seasonally adjusted rate of 582,000, up from the previous month’s revised figure of 562,000. Experts, however believe that the increase is temporary and may not last for long. The one time increase was probably driven by the decline in housing costs and a tax break for the first time buyers. In a bid to boost the housing segment, the Obama administration had offered a 10% tax credit for the first time home buyers which is available till November this year.

Global Chip Sales Rise 5.4% in May

http://online.wsj.com/article/BT-CO-20090703-703697.html

Global chip sales continued to rise for the third consecutive month raising hopes of a return of normalcy in the near future. According to the data released by the Semiconductor Association of India (SIA), global semiconductor sales during May stood at $16.5 billion, up 5.4% from the April figure. The May sales were, however, 23% lower than the year ago level of $21.5 billion. Improving consumer confidence and a recovery in the overall economy is likely to boost the demand for semiconductors, going forward. The highest increase in semiconductor sales was witnessed in Japan (7.2%) and was followed by a 6.7% increase in the Asia Pacific, a 3.9% increase in the Americas. Europe witnessed a mere 0.4% increase in chip sales during May.

Mississippi Gets $100 Million Windfall From Microsoft

http://www.reuters.com/article/domesticNews/idUSTRE55A77820090612

The state of Mississippi will be gaining as much as $40 million while another $60 million will be divided amongst its public school districts, government entities, consumers and businesses. This money comes as part of its settlement with Microsoft over the latter’s alleged monopolistic practices. Microsoft bundled its browser Internet Explorer with its Windows Operating system making it necessary for the consumer to buy one to get the other.

This lawsuit was the largest that has been brought against the giant among the several that Microsoft, the world’s largest software giant is facing. The money will be a god send for the states given the hardships they are facing due to the recession.

TARP Repayments Expected To Begin Soon

http://www.thestreet.com/story/10512843/1/banks-to-start-tarp-repayments-next-week.html?cm_ven=GOOGLEFI

Several big US banks are expected to begin repaying the bailout funds from next week itself. JP Morgan Chase, Morgan Stanley and American Express are expected to repay the $25 billion, $10 billion and $3.4 billion respectively, received by them from the government under its Troubled Asset Relief Program or TARP. Repayment of the taxpayers money is likely to free these firms from restrictions on executive pay, mandatory management changes besides political pressures related to their lending practices. The government after great thought had earlier this week allowed ten firms to repay TARP funds worth $68 billion. Other firms that have been allowed to repay government funds include Goldman Sachs, Bank of New York Mellon, State Street, US Bancorp, BB&T, Capital One and Northern Trust.