Veeco Instruments Shares Plunged: What You Need to Know

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What: Shares of Veeco Instruments (Nasdaq: VECO  ) closed down more than 11% after analysts expressed concerns over pricing and overcapacity in the LED marketplace. Industry peer Cree (Nasdaq: CREE  ) also fell more than 10%.

So what: Five analysts expressed concerns about LED demand. Canaccord Genuity downgraded Veeco to "sell" from "hold" while Deutsche Bank cut its estimates, Forbes reports.

Now what: Of the five, only one firm -- Sterne Agee -- said it continues to recommend clients buy shares. Too harsh? I think so. On a forward-looking basis, the stock trades for less than half the long-term profit growth rate analysts expect. Where do you stand? Would you buy shares of Veeco Instruments at current prices? Please weigh in using the comments box below.

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Source: http://feeds.fool.com/~r/usmf/foolwatch/~3/u1hs8_ryoh8/veeco-instruments-shares-plunged-what-you-need-to-.aspx

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How You Can Uncover Your Current Credit History

In case you are considering buying a automobile or perhaps a property or maybe you just have to have a loan for some other reason, your credit rating can be very important. The reason is that the person who will say yes to your loan will check your credit standing before they grant your loan. [...]

Source: http://www.legaldebthelponline.com/2011/10/17/how-you-can-uncover-your-current-credit-history/

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Why Income Inequality Is A Myth ? And Occupy Wall Street Is Wrong


occupy wall street

Sorry, the story just doesn’t hold together.

According to left-wing think tanks, columnist and bloggers – and, of course, the Occupy Wall Street radicals – the top 1 percent have been exploiting the 99 percent for decades.

The rich have been getting richer at the expense of the middle class and poor.

Really? Just think for a second: if inequality had really exploded during the past 30 to 40 years, why did American politics simultaneously move rightward toward a greater embrace of free-market capitalism?

Shouldn’t just the opposite have happened as beleaguered workers united and demanded a vastly expanded social safety net and sharply higher taxes on the rich? What happened to presidents Mondale, Dukakis, Gore and Kerry? Even Barack Obama ran for president as a market friendly, third-way technocrat.

Nope, the story doesn’t hold together because the financial facts don’t support it. And here’s why:

1. In a 2009 paper, Northwestern University economist Robert Gordon found the supposed sharp rise in American inequality to be “exaggerated both in magnitude and timing.” Here is the conundrum: family income is supposed to rise right along with productivity.

But median real household income — as reported by the Census Bureau — grew just 0.49 percent per year between 1979 and 2007 even as worker productivity grew four times faster at 1.95 percent per year. The wide gap between the two measures, if accurate, would suggest wealthy households rather than middle-class families grabbed most of the income gains from faster productivity.

But Gordon explained that this “compares apples with oranges, and then oranges with bananas.” When various statistical quirks are harmonized between the two economic measures, Gordon found middle-class income growth to be much faster and the “conceptually consistent gap between income and productivity growth is only 0.16 percent per year.” That’s barely one?tenth of the original gap of 1.46 percent. In other words, income gains were shared fairly equally.

2. A pair of studies from 2007 and 2008 conducted by the Federal Reserve Bank of Minneapolis supports Gordon. Researchers examined why the Census Bureau reported median household income stagnated from 1976 to 2006, growing by only 18 percent. In contrast, data from the Bureau of Economic Analysis showed income per person was up 80 percent.

Like Gordon, they found apples-to-oranges issues such as different ways of measuring prices and household size. But in the end, they concluded that “after adjusting the Census data for these three issues, inflation-adjusted median household income for most household types is seen to have increased by 44 percent to 62 percent from 1976 to 2006.” In addition, research shows that median hourly wages (including fringe benefits) rose by 28 percent from 1975-2005.

3. A 2008 paper by Christian Broda and John Romalis from the University of Chicago documents how traditional measures of inequality ignore how inflation affects the rich and poor differently: “Inflation of the richest 10 percent of American households has been 6 percentage points higher than that of the poorest 10 percent over the period 1994 – 2005. 

This means that real inequality in America, if you measure it correctly, has been roughly unchanged.” And why is that? China and Wal-Mart. Lower-income families spend a larger share of income than wealthier families on goods whose prices are more directly affected by trade. Higher income folks, by contrast, spend more on services which are less subject to foreign competition.

4. A 2010 study by the University of Chicago’s Bruce Meyer and Notre Dame’s James Sullivan notes that official income inequality statistics indicate a sharp rise in inequality over the past four decades: “The ratio of the 90th to the 10th percentile of income, for example, grew by 23 percent between 1970 and 2008.”

But Meyer and Sullivan point out that income statistics miss a lot, such as the value of government programs and the impact of taxes. The latter, especially, is a biggie. The researchers find that “accounting for taxes considerably reduces the rise in income inequality” over the past 45 years. In addition, “consumption inequality is less pronounced than income inequality.”

5. Set all the numbers aside for a moment. If you’ve lived through the past four decades, does it really seem like America is no better off today. It doesn’t to Jason Furman, the deputy director of Obama’s National Economic Council. Here is Furman back in 2006: “Remember when even upper-middle class families worried about staying on a long distance call for too long? When flying was an expensive luxury? When only a minority of the population had central air conditioning, dishwashers, and color televisions? When no one had DVD players, iPods, or digital cameras? And when most Americans owned a car that broke down frequently, guzzled fuel, spewed foul smelling pollution, and didn’t have any of the now virtually standard items like air conditioning or tape/CD players.”

No doubt the past few years have been terrible. But the past few decades have been pretty good — for everybody.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/bSPPh8oEqzQ/5-reasons-why-income-inequality-is-a-myth--and-occupy-wall-street-is-wrong-2011-10

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History Help Please!?

Question by Katiecos: History Help Please!? What criticism did many progressives make of the new deal? a. it unfairly taxed successful, hardworking people b. it promoted a regimented, militaristic society. c. it did not do enough to redistribute wealth d. many of its programs smacked of “bolshevism.” why did FDR cut back on expensive relief [...]

Source: http://www.legaldebthelponline.com/2011/10/18/history-help-please/

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SEPTEMBER PPI SURGES 0.8%, WAY HOTTER THAN ESTIMATES


AK Steel

Update:

The number is out, and it's HOT!

PPI hs jumped 0.8%, well above the 0.2% analysts had expected.

Core PPI, which excludes food and energy, was only up 0.2%, which is still above the 0.1% that analysts had expected.

The culprit? Blame food and energy.

In September, the increase in the index for finished goods was broad based, with prices for  finished energy goods rising 2.3 percent, the index for finished goods less foods and energy  moving up 0.2 percent, and prices for finished consumer foods advancing 0.6 percent.  Finished energy:  The index for finished energy goods advanced 2.3 percent in September after  decreasing in each of the previous three months. Nearly seventy percent of this rise can be  attributed to the gasoline index, which increased 4.2 percent. Higher prices for liquefied  petroleum gas and diesel fuel also were factors in the rise in the finished energy goods index.

Read the full announcement here.

Original post: The one big econ datapoint of the day.

PPI is expected to rise 0.2%.

Ex-food and energy the gain is seen as 0.1%.

More in a moment when it's out.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/hbxg1P5a-x0/ppi-september-2011-10

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Making PPI Claims Is More Straightforward Than You Think

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If you have had a loan, mortgage or credit card with which you were sold payment protection insurance you may be eligible to make a claim. PPI claims are simple to make, though first you need to work out whether you will be eligible for compensation.

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What Does an IVA Cost?

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We consider the cost of doing an individual voluntary arrangement and how these costs are paid. The first thing to understand about individual voluntary arrangements is that the costs involved with providing the IVA service are included within your monthly payments. Because your monthly IVA payments are equal to the amount you can afford to pay each month and no more, you do not pay anything extra to cover the cost of the IVA service.

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