<![CDATA[richardsavvy.com - Home]]>Wed, 10 Nov 2010 09:50:30 -0800Weebly<![CDATA[CHAOS: China Has All Our Savings]]>Wed, 10 Nov 2010 06:52:06 -0800http://www.richardsavvy.com/1/post/2010/11/chaos-china-has-all-our-savings.htmlUnemployment is still hovering around 10% and some companies have avoided layoffs by cutting their 401k match...  The next wave of layoffs is coming soon  THYCAN.  Take Home Your Computer At Night.

There's a gigantic confidence problem in the corporate world.  Everyone is worried about losing their job... therefore not spending money on unecessary items.  You don't have to be a genius to figure out that this has a trickle down effect and ultimately results in more jobs being cut and companies not hitting their number again in the 4th quarter.

All bets are off when it comes to the Fed.  They keep printing more and more money out of thin air... there may be a temporary drop in prices but then inflation will hit hard once everyone realizes how many US dollars are in circulation. 

Consumers are still much too cautious and will remain that way until housing prices stabilize and the banks come clean.  No matter how you slice it, we're trying to cure the current economic problems with a band-aid and it really deserves major surgery.  If this phony plan works it's only going to postpone problems that will arise again in 10 years... then we can relive this all over again.  Maybe we rally again until 2016, until all of the baby boomers are forced to start withdrawing from their 401ks... TCAR/D. Then Comes Another Recession/Depression.

I'm sure the government will come up with a fancy acronym to solve that problem as well... maybe the CHAOS... China Has All Our Savings.  ]]><![CDATA[Job Market Showing Signs of Life - Kind of...]]>Wed, 10 Nov 2010 06:47:17 -0800http://www.richardsavvy.com/1/post/2010/11/job-market-showing-signs-of-life-kind-of.htmlFewer people applied for unemployment aid last week, the third drop in four weeks...
The Labor Department shook their magic 8 ball and came up with some numbers - the initial claims for jobless aid dropped by 24,000 to a seasonally adjusted 435,000. Wall Street economists expected a smaller decrease, but what do they know?  Forecasting on Wall Street is just liquor and guessing.
Applications for unemployment benefits do actually provide a real-time snapshot of the job market. They are a measure of the pace of layoffs and signal whether companies are adding jobs.
Way to go Obama. He's keeping his promise of creating jobs... he got jobs for 63 Republicans just last week.
]]><![CDATA[Crisis In Ireland]]>Wed, 10 Nov 2010 06:36:22 -0800http://www.richardsavvy.com/1/post/2010/11/crisis-in-ireland.htmlPicture
Ireland is in big financial trouble.  Investors are betting that the country soon could join Greece in seeking a bailout from the European Union and drove the interest rate on the country's 10-year borrowing to a new high.  Ireland and Greece are now in the same boat... and that's not a good boat to be in.
]]><![CDATA[43% Have Less Than 10k For Retirement!]]>Thu, 07 Oct 2010 00:00:00 -0800http://www.richardsavvy.com/1/post/2010/10/43less-than-10k-for-retirement.htmlAre you spending every penny that you make?  Or more than you make?  According to this survey it doesn't appear that very many people are saving for retirement and plan on working longer.  Check it out here.  ]]><![CDATA[Homes Prices Plunge in 2009]]>Mon, 25 Jan 2010 20:47:28 -0800http://www.richardsavvy.com/1/post/2010/01/homes-prices-plunge-in-2009.html
Picture
Sales of previously occupied homes rose in 2009 for the first time in four years, despite a December slump that was due to a tax credit that led many buyers to complete sales earlier.

Still, prices plunged more than 12 percent last year -- the sharpest fall since the Great Depression. The price drop for 2009 -- to a median of $173,500 -- showed the housing market remains too weak to help fuel a sustained economic recovery.

Read more here.
]]><![CDATA[Employees Looking to Leave]]>Mon, 25 Jan 2010 20:34:36 -0800http://www.richardsavvy.com/1/post/2010/01/employees-looking-to-leave.htmlCompanies worried about losing their all-star employees have good reason to be... Some savvy firms are already trying secure their cream of the crop employees, and when the job market improves, more workers will gratefully seize the opportunity to jump ship.

A recent survey from The Conference Board shows that 22% of workers want to switch jobs as soon as they can—not a comforting prospect. Recruiting and training a replacement plus the loss of productivity can cost up to three times a wage earner’s annual pay.

Read more here.]]><![CDATA[Super Bowl]]>Mon, 11 Jan 2010 22:32:26 -0800http://www.richardsavvy.com/1/post/2010/01/super-bowl.htmlThe economic slump has even taken a toll on Super Bowl ads, pushing the price down for only the second time in the game's history... but they're still the most expensive on television, narrowly beating out ads for Jersey Shore.
Picture
]]><![CDATA[Stay AWAY from RETAIL]]>Wed, 24 Jun 2009 07:55:48 -0800http://www.richardsavvy.com/1/post/2009/06/stay-away-from-retail.htmlHave you seen any businesses closing lately?  Headed to Circuit City?  I don't think so.  Need something at Mervyn's?  Nice try.  If you think it’s bad now, it’s only going to get worse.  When times were good retailers were buying inventory like it was never going to end... now they're paying for it... with bankruptcy.

These once successful companies had no clue how big the recession was going to be, leaving them with way too much inventory. However, this means the liquidation business is making a killing.  Overstock.com, redtag.com, and ubid.com anyone?  Check them out.

This also means great deals for consumers... don't pay retail for anything.  Wait for it to go on sale or move on.  The days of paying MSRP are over... for now.

]]><![CDATA[GM minus 4000 ]]>Tue, 23 Jun 2009 20:54:11 -0800http://www.richardsavvy.com/1/post/2009/06/gm-minus-4000.html
Picture

Around 4,000 more salaried workers at General Motors Corp. will lose their jobs by the end of the year as the automaker continues to downsize.  Michigan is in trouble.  Things aren't getting any better.  Can you tell me one company that is hiring?  Anywhere?

GM notified its more than 27,000 U.S. white-collar workers by e-mail Tuesday that that it will offer standard severance packages, and employees near retirement age will have the opportunity to retire early.  How nice of you GM... you might as well have Tweeted it to everyone.  You're officially the worst run business of all time.

Some involuntary cuts will be necessary as well... GM is trying to shrink its U.S. salaried work force to around 23,500 by the end of the year.  Only 23,500 salaried workers at General Motors!  Now that's insane.

The automaker is in Chapter 11 bankruptcy protection and has received about $20 billion in loans from the U.S. government. The Treasury Department's auto task force is overseeing its plans to restructure and emerge from bankruptcy as a leaner, more competitive company.  Good luck... and I guess GM is the worst run business... but our government is much worse with money!  We're in debt, what should we do?  Get into more debt.  Real smart.

]]><![CDATA[iPhone 3G S Sales Top A Million]]>Mon, 22 Jun 2009 21:48:20 -0800http://www.richardsavvy.com/1/post/2009/06/iphone-3g-s-sales-top-a-million.html
Picture

Apple Inc. sold more than a million units of its latest iPhone model in the first three days, making it the most successful debut for a smart phone yet.  

The iPhone 3G S has a faster processor and a better camera than the 3G, among other differences. The 3G is still on sale, for $99. The 3G S costs $199 or $299 depending on the memory capacity.

]]>