SubscribeAll Posts Tagged With: "John Polomny"
State Budgets blowup
Center on Budget and Policy Priorities:
States are facing a great fiscal crisis. At least 41 states faced or are facing shortfalls in their budgets for this and/or next year. Over half the states had already cut spending, used reserves, or raised revenues in order to adopt a balanced budget for the current fiscal year — which started July 1 in most states. Now, their budgets have fallen out of balance again. New gaps have opened up in the budgets of at least 31 states plus the District of Columbia just four months after they struggled to close the largest budget…
17Nov2008 | The Real Deal | Comments Off | ContinuedRate cuts trigger inflation fears
Marketwatch
Moming Zohu
The Federal Reserve, European Central Bank and four other central banks lowered interest rates in a coordinated effort to combat world’s deepening financial turmoil.
"Coordinated central bank aggressive interest rate cuts should lead to gold surging in value in the coming months" as "currency devaluations look increasingly likely," said Mark O’Byrne, executive director at Gold and Silver Investments.
Gold for December delivery gained $24.50, or 2.8%, to close at $906.50 an ounce on the Comex division of the New York Mercantile Exchange. It was the first time the contract topped the $900 level since Sept. 29.
The metal has…
9Oct2008 | The Real Deal | Comments Off | ContinuedMosaic misses the number
North American fertilizer company Mosaic Co said on Wednesday its fiscal first- quarter profit almost tripled, driven by a boom in the global agricultural sector and the soaring price of potash- and phosphate-based crop nutrients.
But the company’s shares plummeted more than 20 percent to $53.80 in trading after the closing bell because earnings fell short of Wall Street expectations.
The company also warned it planned to sharply reduce phosphate production over the next several months, due to high inventory levels.
Net income in the quarter ended Aug 31 was $1.18 billion, or $2.65 a share, up from a year-ago’s profit of $305.5…
2Oct2008 | The Real Deal | Comments Off | ContinuedHigher Gold Price to Spur Industry Consolidation
Reuters 9/24/08
Steve James
Turmoil in the financial markets is driving up the price of gold and likely will spawn a takeover wave among precious metals companies, analysts and industry observers said on Wednesday.
“We believe the stage is set for an unprecedented increase of merger and acquisition activity in the precious metals sector,” analyst Richard Gray, of Toronto-based Blackmont Capital, wrote in a research note.
“A significant amount of upcoming mergers and acquisitions are likely to be done under the assumption that the gold price will increase in the longer term.”
My comment: I forgot to comment on the Kinross takeover of Aurelian as I…
25Sep2008 | The Real Deal | Comments Off | ContinuedPrecious Metals Gearing Up
By Nick Jones
Editor, Real Deal
The PMs have taken the back seat in the most recent rally in commodities. While corn, soy beans, oil, and other commodities were making either fresh contract or all time highs on a daily basis, the PMs simply consolidated. This was to be expected after the fantastic rally in gold from the low $600s to above $1000 /oz. Personally, I exited the last of my PM equities positions at $975 /oz and have been on the side lines ever since (I do still own physical metals). But I believe that we are currently encroaching a good…
26Jun2008 | Nick Jones | Comments Off | Continued
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