Jamesb101.com

commentary on Politics and a little bit of everything else

CitiGroup following the Bank of America and JPMorgan Chase… returns to profitability ……

And why am I not surprised?

While all of the banks took a beating…..the Stimulus loans and Government assistance programs have put them back on their feet along with the recovery in Europe…..

As the Dog has said during the dark days of last fall……

These things are cyclcal….and no matter what..the banks will be saved……

As for the future…..

Well lets ee what the Democrats can get passed in financial reform….

He, he, he……I say this  again,  though…..

What ever’s passed will only take the backroom boys and girls about ten minutes to figure out how the bank can get around it……

After nearly two years of being drenched in red ink, Citigroup provided the strongest signs yet that the troubled bank is beginning to recover as it reported a $4.4 billion profit in the first quarter.

The earnings, which handily beat analyst expectations and were the bank’s best since the financial crisis began, were the result of the resurgence in the bond market and improvements in the economy, particularly overseas. Both play to Citigroup’s strengths as a major player in fixed income and emerging markets, and come as some of its rivals benefited from similar trends. JPMorgan Chase andBank of America both reported big first-quarter earnings from hefty trading profits and from adding less money to their loan loss reserves.

For Citigroup, however, the promise of a turnaround has always seemed more distant. Just over a year ago, its chief executive,Vikram S. Pandit, was staring at losses so big that the bank received two helpings of bailout money and gave the government a 27 percent ownership stake. It posted multibillion-dollar losses in eight out of its last nine quarters. Citigroup shares briefly traded below a dollar.

Today, however, the stock has started to rebound with shares 6.9 percent higher, to $4.86 on Monday. The Treasury Department has signaled that it will soon begin selling its 7.7 billion shares, and after two years on the job, Mr. Pandit is making progress on slimming down the bank.

More……..

April 19, 2010 Posted by | Breaking News, Government, Law, Media, Men, Other Things, PoliticalDog Calls, Politics, The Economy, Updates | , , , , , | 1 Comment

John Deere does good……

The farm machinery maker posted higher-than-expected earnings, sending its shares up more than 8 percent, as wider margins at its farm equipment and finance units helped it overcome weak economic conditions.

Deere [DE  56.339   2.559  (+4.76%)   ] Wednesday also raised its outlook for fiscal 2010 machinery sales growth to a range of 6 percent to 8 percent, from a previous estimate that sales would fall 1 percent.

Profitability in the unit that makes Deere’s green tractors and harvesters was especially impressive, reporting margins of nearly 10 percent — three times what investors had expected, according to Eli Lustgarten, an analyst at Longbow Securities.

“It looks like brilliant profitability in ag in a relatively weak market,” Lustgarten said. “It’s a combination of restructuring, it’s a combination of operating efficiency, it’s execution, and brilliant ag margins.”

Deere, the world’s largest maker of agricultural equipment, reported a fiscal first-quarter net profit of $243.2 million, or 57 cents a share, up from $203.9 million, or 48 cents a share, a year earlier.

Revenue fell 6 percent to $4.84 billion.

People gotta eat…right?

February 17, 2010 Posted by | Blogs, Breaking News, Ecology, Media, Men, Other Things, The Economy, Updates | , , | 5 Comments

AVATAR Rules!!!!…….Worldwide Box office breaks $1Billion……in Three weeks!

…….AVATAR is still a long way from breaking a profit since the movie cost a whopping $280 million to produce, $150 Million for worldwide marketing and distribution…..since the studio loop off almost 505 of the gross and the theatre’s get their take…the movie has probably only stared to show a small profit for its producers……20th Century Fox, Dune Entertainment and Ingenious Film Partners……

The movie is doing better outside the United States than in…..”Avatar” is already the highest-grossing film of all time in Russia, the fourth highest in Spain and Australia, and the second-biggest U.S. movie ever in France, India and South Korea. It opens on Monday in China, an increasingly lucrative market for effects-laden tent-pole films, and on Jan. 15 in Italy.

Here’s the numbers for the top ten movies in the domestic box offices……..

1. “Avatar” (Fox/Dune/Ingenious): $68.3 million, down 10%. Domestic total: $352.1 million. Foreign total: $670.2 million.

2. “Sherlock Holmes” (Warner Bros./Village Roadshow): $38.4 million, down 38%. Domestic total: $140.7 million. Foreign total: $88.3 million

3. “Alvin and the Chipmunks: The Squeakquel” (Fox/New Regency): $36.6 million, down 25%. Domestic total: $157.4 million. Foreign total: $99.1 million.

4. “It’s Complicated” (Universal/Relativity): $18.7 million, down 15%. Domestic total: $59.1 million. Foreign total: $13.8 million.

5. “The Blind Side” (Warner Bros./Alcon): $12.7 million, up 10%. Domestic total: $209.1 million.

6. “Up in the Air” (Paramount/Montecito): $11.4 million, up 1%. Domestic total: $45 million.

7. “The Princess and the Frog” (Disney): $10 million, up 11%. Domestic total: $86.1 million.

8. “Did You Hear About the Morgans?” (Sony/Relativity): $5.2 million, up 4%. Domestic total: $25.6 million.

9. “Nine” (The Weinstein Co./Relativity): $4.3 million, down 22%. Domestic total: $14 million.

10. “Invictus” (Warner Bros./Spyglass): $4.1 million, up 2%. Domestic total: $30.8 million.

January 3, 2010 Posted by | Breaking News, Entertainment, Family, Fiction, Media, Men, Military, Movies, Music, Travel, Updates, Women | , , , , | Leave a comment

Are China's banks actually having trouble?

The Wall Street Journal is reporting in a little noticed piece, that China’s bank’s may be having trouble, like everyone did, six months ago……The piece goes on to say that their profits may in fact be just driven by expansion and may not reflect the sum of their assets?…hum??????

Didn’t they lend this country a boat load of money a few months ago?

November 2, 2009 Posted by | Breaking News, Media, Politics, The Economy | , , , | 11 Comments

Are China’s banks actually having trouble?

The Wall Street Journal is reporting in a little noticed piece, that China’s bank’s may be having trouble, like everyone did, six months ago……The piece goes on to say that their profits may in fact be just driven by expansion and may not reflect the sum of their assets?…hum??????

Didn’t they lend this country a boat load of money a few months ago?

November 2, 2009 Posted by | Breaking News, Media, Politics, The Economy | , , , | 11 Comments

The Big Banks get bigger…………

A sobering piece in the Washington Post points something very disturbing coming out of the countries financial downturn. That is that….the nations big banks have  gotten even bigger and are more likely to have a permeant spot in the ‘too big to fail spot’……..as  result of the White House policy of  not letting anyone of them fail…the middle guys have no such protection….and have been swallowed up….leaving bigger top players…….while the government is watching the big guys…….those banks are now making big profits and are trying to pay big salaries to keep their employees causing headaches for watch dogs and the White House……..the public maybe the ones who get mad…watching these unfold in front of their eyes while they get shut out of opportunities  to work and get  credit……….

August 28, 2009 Posted by | Other Things, Politics, The Economy | , , , , , , , , | 3 Comments

AIG and Breakstone both post profits……..

AIG, the ailing insurance giant that you and me bailed out, along with Warren Buffets’ Breakstone Corp have posted profits, folks……..with the market coming back, expect more of this…..just one thing…..We all expect the government to make its money and interest back from the AIG’s and banks that got loans………

August 10, 2009 Posted by | Politics, The Economy | , , , , , , , | Leave a comment