Mike: I hope you are all having a good weekend. I fixed the rss feed problem, so all should be back to normal. I had added a plugin that made the rss crash, whhich has since been removed. Today we had Consumer Sentiment come in at an improved 69 from May’s 68.7 (U.S. Michigan Consumer […]

Continue reading about June 12, 13, 14 – Over 1500 Chicago city employees to get layoff notices – Massive layoffs coming to MySpace? – Cessna plans 1300 more layoffs – Banks to repay TARP to avoid executive compensation limits – Hella to dump 400

Mike: As with most Thursdays, the weekly jobless claims number is the big news. Today saw a reduction of claims to 601,000, which is still a very high number, but an improvement from the previous week. The markets seem excited by unemployment remaining above 600,000, but then all news is good news of  late.  The […]

Continue reading about June 11 – Jobless claims decline to 601,000 – Continuing claims reach another record at 6.82 million – Michigan unemployment at 23.4%? – U of Iowa Hospitals to cut 200+ – Another 1600 gone at American Airlines – UTStarcom to cut 2,300

Mike: Good day. The economic news for this day is primarily the MBA Mortgage Applications Index, which showed weakness due to increasing interest rates. This is the busiest time of year for home sales, yet mortgage application increased only 1.1% for the week and that’s with historically low interest rates. Refinancing decreased 12% due to those […]

Continue reading about June 10 – Mortgage applications fall 7.2% – Job openings at lowest level since 2000 – Chicago schools to cut 1000 – Char-Meck schools to dismiss 900 – Ford plans to cut 350 in Louisville – GM extends summer plant closings