113099366067859611

Time to try out a different kind of NewsWire… Market Cap. As you might expect, this feature has a focus on the economy. Now, I’ll tell you this right upfront: I don’t understand half of what the financial articles are about. So you can call me out, and rightly so, if I get something wrong. I’ll also try to explain everything as clearly as I can. It’s still news, just with numbers and different jargon. So I’ll try to take away the jargon, and bring you the newsy highlights. I cannot promise you if this Delta NewsWire© will stick or not. It may even be relocated to the weekends, which is when TDI can provide more updates than usual. So, we’ll see. I guess we’ll try it out once, and I’ll see if I like it, and you can tell me if you like it. Deal? Sounds good.

NOTE: This is an abbreviated NewsWire, due to the fact that it’s a trial run. Below are 4 stories, while a NewsWire typically has a base minimum of 7.

Johnson & Johnson’s $25.4 billion acquisition of troubled heart device maker Guidant Corp., the largest health care deal in modern history, may find it’s resolution in court. Now, the U.S. Federal Trade Commission has given it’s final approval to the deal on Wednesday. But J&J cannot complete the deal unless it revises the terms. J&J is now kind of weary of Guidant, after a recall of heart devices. But Guidant says that the two parties are legally bound to complete the transaction. J&J may be required to pay Guidant a break-up fee of $700 million if it walks away from the acquisition. With both sides not agreeing with each other, a judge may wind up agreeing for them. (source)

Ben Bernanke (whom you’ve already met), has most of his money split about 50-50 between stocks and fixed income. Meaning? He’s fair and balanced! Or just that he runs a conservative portfolio. According to his latest disclosure forms, he’s worth between $1.14 million to $5.57 million. Why the range? Mostly because of his securities portfolio. Legally, he’s not required to give us an exact number. His largest holding, as of 2004, was in a TIAA-CREF retirement account. He did not say what he owns in that account. Analyst say that his portfolio hints at a conservative approach to the markets. About 80% of his stock’s funds were large-cap oriented. About 25% of his equities are invested overseas. He also tilts slightly more towards growth stocks. (source)

On Tuesday, the Federal Reserve raised short-term interest rates a quarter-point, bringing rates to their highest in four years. The Federal Open Market Committeevoted unanimously to raise the rate to 4%, citing inflation pressures and hurricane-related disruptions in the economy. The committee also cited a “cumulative rise” in energy and other costs that could add up to inflation. Still, core inflation, which doesn’t include food and energy, has been relatively low. Long-term inflation expectations remain contained. The Federal Reserve is expected to continue raising rates. Alan Greenspan has two more oppertunities to do so, once on Dec. 13, the other on Jan. 31. After that, if he’s confirmed, it’ll be Ben Bernanke’s problem. (source)

The AARP says that prices increased for popular brand-name prescription drugs rose at twice the general rate of inflation for the year ending June 30. Though the AARP said that the gap between drug cost and inflation did narrow a little bit. The average price increase for 193 brand-name drugs was 6.1%, while overal inflation was at 3%. The drugs that the lobbying group tracked are those most widely prescribed to people 50 years old or older. On the flip side, some companies say that it’s more appropriate to compare medical inflation to the Consumer Price Index. The CPI indicates that medical inflation increased by 4.2%, with drugs (including generics) going up by about 3.4%. (source)

And now you kind of know some business news. See, it’s really not different at all, except that there are more numbers thrown in. I kind of like this, but I’ll do some things differently next time, I think. Maybe ditch the green background for every paragraph, and just save the green for the logo. Please, tell me what you thought. If ya’ll hated it, but don’t tell me, ya’ll might be sorely dissapointed if I do nothing BUT Market Cap’s. 😉

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One Response to “113099366067859611”

  1. Erika Says:

    basically had no clue what ne of that meant…

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