After a brief end of fiscal year hiatus we are back. And just in time, because you saw the headlines over the weekend discussing what a big earnings week it will be, so it comes as no shock that Goldman Sachs reported today (one day early). But what will be the other drivers? What if we told you that the Federal Reserve twice yearly report on the economy is due this week? And what if we told you that Pres. Obama will give an economic speech on Tuesday (4/14)? Oh, and what if we told that Federal Reserve Board Chairman Ben Bernanke has not one, but two speeches this week? We think those will be worth keeping an eye on.
For our MBA readers why you care: We suspect you'll see three themes in the press this week - 1) taxes (obvious); 2) earnings (also obvious); and 3) stories about how the economic downturn is hurting countries south of the U.S. border. That's because the Summit of the Americas is at the end of the week with Pres. Obama in attendance but not without making a pit stop in Mexico along the way. Lost in all of this is the Securities and Exchange Commission (SEC) discussion on credit rating agency oversight (4/15). We think your eyes and ears should be tuned into that as much as the other stories.
For our MBA wannabes why you care: Earnings are important (otherwise we wouldn't included notes on them each week), but remember earnings are how a company did the prior quarter, not necessary an iron clad indicator on how it will do the following quarter or in a year.
Here's your weekly crib sheet... We do caution that you check back to WhyYouCare.com for updates on scheduling.
MONDAY 4/13
Earnings: Goldman Sachs* (*One day early).
TUESDAY 4/14
Earnings: Commerce Bancshares, CSX Corp, Intel, Johnson & Johnson.
Economic Reports: Producer Price Index (for March), Retails Sales (for March).
Pres. Obama: 11:30a, Economic speech at Georgetown University.
Bernanke: 1:30p ET speech on the financial crisis at Morehouse College, Atlanta, GA.
Briefing: Citizens Against Government Waste on their Congressional Pig Book (report on federal pork-barrel spending).
Briefing: Transportation Secy. Ray LaHood the stimulus law and transportation funding.
Hearing: Senate Small Business and Entrepreneurship Cmte.'s field hearing on manufacturing plant closures.
WEDNESDAY 4/15 - TAX DAY
Earnings: Abbott Labs, Charles Schwab, Knight Capital Group, Piper Jaffray, Progressive.
Economic Reports: Consumer Price Index (for March), Fed's Beige Book (the Fed's report on the economy), Mortgage Applications data (from Mortgage Bankers Assoc.).
Discussion: Securities and Exchange Commission (SEC) on the oversight of credit rating agencies.
THURSDAY 4/16
Earnings: Associated Banc Corp., BlackRock, Gannett, Genuine Parts, Google, Harley-Davidson, JP Morgan Chase, Nokia.
Economic Reports: Initial Claims (for 4/11), Housing Starts, Building Permits.
National Press Club: Dominique Strauss-Kahn, Managing Director of the International Monetary Fund discusses the recession.
Pres. Obama: Stops in Mexico on his way to the Summit of the Americas.
FRIDAY 4/17
Earnings: BB&T Corp., Citigroup, First Horizon, General Electric, Mattel, Prosperity Bancshares.
Economic Report: Federal Reserve System's data on the assets and liabilities of U.S. commercial banks.
Pres. Obama: Participates in the Summit of the Americas in Trinidad and Tobago.
Bernanke: 12:30p ET speech on "Challenges Presented by Innovations in Financial Services for the Underserved."
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...because you shouldn't need a decoder ring to understand the business pages.
Why You Care...
In order to understand how the tug of war over money, power and land between Capitol Hill and Wall Street impacts your life you MUST understand the business pages. But, sometimes trying feels like you need a decoder ring. That's where we come in: We are at once - a veteran journalist, and a long time professor of finance and real estate law. This is our journalistic and academic effort to explain why you care about the complexities of Washington and Wall Street by highlighting solid reporting and decoding the business pages along the way.
Why WE Care
Tom Kaufman combines two perspectives: 20 years as an adjunct law professor at Georgetown, along with a Wharton MBA. He currently serves as the Capital Markets and Real Estate Finance Committee Chairman for the American College of Real Estate Lawyers.
Christian Hudson spent over a decade producing for CNN - most recently as a Senior Producer for the Situation Room. He now practices finance and real estate law and writes about money, power, land and politics.
Yes, we work for a big firm and for transparency sake we've linked our names above to our bios, but this is our own website and the opinions expressed here are strictly ours.
Christian Hudson spent over a decade producing for CNN - most recently as a Senior Producer for the Situation Room. He now practices finance and real estate law and writes about money, power, land and politics.
Yes, we work for a big firm and for transparency sake we've linked our names above to our bios, but this is our own website and the opinions expressed here are strictly ours.
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Disclaimer:
Posts on this Website have been written and displayed for informational purposes only and are not legal advice. The transmission of the Website, in whole or in part, and/or any communication with us via Internet e-mail through this site, does not constitute or create an attorney-client relationship between us or our law firm and any recipients.
No recipients of content from this Website should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state.
The content of this Website contains general information and may not reflect current legal developments, verdicts or settlements. We and our law firm expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this Website.
Please do not submit any confidential information. Any information submitted to or through the Website is not secure and is done so on a non-confidential basis.
Posts reflect the personal opinions of the authors, and are not the views of any past or present employer or institution with which the author may be affiliated.