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Source: http://www.superxofficial.com/2012/10/pool-party-jesse-marco-chuck-inglish.html
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Saturday, 20 October 2012
Firm dollar, weak Europe crimp U.S. industrials' sales
NEW YORK (Reuters) - Four top U.S. manufacturers, including General Electric Co
The ream of recent results sets the stage for an even heavier week of earnings reports next week, including those of global heavyweights such as Caterpillar Inc
GE, Honeywell, Ingersoll Rand Plc
"Revenues keep missing," said Ken Polcari, managing director of ICAP Equities in New York. "That is the story that we are hearing across the line."
Going forward, however, the outlook is mixed.
Ingersoll and Parker Hannifin gave forecasts that disappointed investors. GE and Honeywell missed analysts' sales estimates, but kept their forecasts for the rest of the year. All but Parker reported higher profit in the quarter.
GE, the largest U.S. conglomerate, said sales at its aviation and healthcare arms dipped 1 percent in the quarter, though analysts noted overall revenue was hurt by a firmer dollar, which diminished the value of its foreign sales. GE shares were down 2.8 percent at $22.17 on Friday afternoon.
Shares of diversified U.S. manufacturer Honeywell were up 2 percent at $62.67 after it reported a 10 percent rise in quarterly earnings as falling natural gas prices buoyed profit at its UOP chemical arm and offset weakness in Europe.
The industrials sector is one of five market segments where earnings have been better than expected so far this quarter, even as revenue has fallen short.
Recent results suggested multinationals could be reaching the limit of their ability to boost profit through efforts such as cost cutting, said Keith Goddard, CEO of Capital Advisors.
"We're at the upper boundary of where profit margins can go. They're not going to expand further," Goddard said, adding that margins are not likely to collapse, barring another recession.
Industrial companies cut costs so deeply during the most recent recession, they now deserve higher valuations, Capital Advisors' Goddard said, noting it is unusual for a growth stock fund to own names like GE, Eaton Corp
MUCH STRONGER DOLLAR
Top GE and Honeywell executives said the third quarter may represent the greatest hit their results take from exchange-rate fluctuations, since the comparison was against a third quarter of 2011 when the dollar was falling after a standoff in Washington over whether to allow a U.S. debt default.
GE Chief Financial Officer Keith Sherin noted that the dollar was up about 14 percent from a year ago.
"Even if the dollar stays where it is for the fourth quarter, that'll be less of a drag," Sherin said. "It'll be a little stronger, but it won't be as much as the third-quarter impact. But who knows where it's going to go?"
Honeywell expects the strengthening of the dollar to reduce operating income by $100 million in 2012, but does not expect those pressures to recur next year, said Chief Financial Officer Dave Anderson.
Honeywell, traditionally an aggressive cost-cutter, offered a guarded 2013 forecast that calls for sales growth from existing businesses in the low single digits, but stronger margins.
"We expect to grow earnings at a multiple of sales in what will likely be a slow-growth environment," Anderson said.
PARKER MISSES, COOPER BEATS
Struggling international industrial markets hurt profit at Parker Hannifin, which said the economic picture remained murky and that it was focused on controlling costs. The maker of motion control and hydraulic systems slashed its forecast for the fiscal year through June 2013.
Parker's international industrial segment showed a third consecutive year-over-year sales decline, which was "largely as a result of recessionary conditions in Europe and moderating growth in Asia," CEO Don Washkewicz said on a conference call. Parker shares were down 6.8 percent at $79.28 on Friday afternoon.
Heating and cooling systems maker Ingersoll also cited weakness in Europe for revenue that fell short of estimates. However, it beat profit expectations as it realized some of the benefits of years of restructuring. Its shares were up 2.3 percent at $46.69.
Some of the strongest results were from companies that will soon be swallowed up by larger rivals.
U.S. engineering company Shaw Group Inc
Cooper Industries Plc
Cooper's sales in China jumped more than 20 percent in the quarter, raising hopes that the massive Asian economy, a key market for U.S. industrials, may be reviving from a slowdown that has rattled the nerves of investors in economically sensitive stocks.
"I don't think it's smart to bet against (China)," Honeywell CEO Dave Cote said.
Cote said the U.S. and world economies could recover more strongly if governments take concrete steps to resolve debt issues in major nations.
(Additional reporting by Scott Malone in Boston and Ernest Scheyder in New York; editing by Bernadette Baum and Matthew Lewis)
Source: http://news.yahoo.com/firm-dollar-weak-europe-crimp-u-industrials-sales-024016525--sector.html
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Friday, 19 October 2012
McDonald's sales growth weakens, shares fall
(Reuters) - McDonald's Corp
The world's biggest fast food chain also said on Friday that sales at existing restaurants have fallen so far this month.
Shares of McDonald's were down 3.3 percent to $89.75 in early Friday trading.
The results landed a day after Chipotle Mexican Grill Inc
Government and restaurant data showed restaurant trends decelerated in September, Bernstein Research analyst Sara Senatore said.
"I think the conclusion is that demand is slow in the United States," Senatore said. "You have a scenario where the overall pie is shrinking and companies are competing aggressively to take their piece of it."
Fast-food chains such as Burger King Worldwide Inc
"Competition has certainly gotten more aggressive the past several quarters," said Hottovy, who described the environment as "cutthroat."
McDonald's has beefed up advertising to try to fend off the resurgent rivals, and analysts expect its size and management prowess will work to the company's advantage.
"This chain will just have to grind through this. We're confident they can do this with their brand power and their advertising budget," Edward Jones analyst Jack Russo said.
Shares in other restaurant operators also fell on Friday. Chipotle shed 14 percent to $246.10, its lowest level in well over a year. Yum Brands was off 1.8 percent to $70.78, and Starbucks Corp
McDonald's global sales at restaurants open at least 13 months rose 1.9 percent, the first gain of less than 2 percent since the second quarter of 2003. Analysts polled by Consensus Metrix expected a 2 percent increase.
The sluggish U.S. economy and Europe's belt-tightening are squeezing even the most resilient restaurant operators, as diners spend cautiously.
Tougher comparisons, particularly in the United States, will likely weigh on comparable-sales trends from the fourth quarter of 2012 through the second quarter of 2013, said Janney analyst Mark Kalinowski, who has a "neutral" rating on McDonald's.
Income at McDonald's fell to $1.46 billion, or $1.43 per share, in the third quarter, from $1.51 billion, or $1.45 per share, a year earlier.
Analysts, on average, expected McDonald's to earn $1.47 per share, according to Thomson Reuters I/B/E/S.
The impact of the stronger dollar, which lessens the value of sales overseas for U.S. companies, trimmed earnings by 8 cents per share.
Total sales slipped 0.2 percent to $7.15 billion.
During September, comparable sales were up 0.7 percent in the United States, 3 percent in Europe and 0.1 percent for the Asia/Pacific, Middle East and Africa (APMEA) region.
While the results from the United States and APMEA region disappointed Wall Street, Europe handily topped expectations, according to Consensus Metrix.
McDonald's has focused on value items in Europe, which just tops the United States as the company's top market for sales. The effort helped it serve up the better-than-expected results, despite a drop in traffic, analysts said.
Lazard Capital Markets analyst Matthew DiFrisco said he wants to hear more about the "increasingly competitive environment" in the U.S. and what pushed traffic to restaurants down in Europe and led to the weakness in Japan.
Still, he rated McDonald's stock as "buy," calling it the best-positioned restaurant chain to gain share with its strong brand equity, marketing, contemporary stores and value prices.
(Additional reporting by Brad Dorfman in Chicago; Editing by Gerald E. McCormick, Dale Hudson and Jeffrey Benkoe)
Source: http://news.yahoo.com/mcdonalds-quarterly-profit-slips-120355747--finance.html
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Microsoft sells out of $499 Surface tablets
20 hrs.
Microsoft has only?been letting people pre-order the new Surface RT tablet since Wednesday, but the most popular configuration ? the entry-level $499 one ? appears to be sold out?already.
Now, if you attempt to pre-order the baseline Surface with Windows RT, a 32 GB device without the new Touch Cover accessory, you'll have to wait about three weeks for it to ship, according to Microsoft's website.?
Oddly enough, if you choose to buy the same model with a bundled keyboard Touch Cover (the?one whose ease of use came as "a pleasant surprise" to?our own Wilson Rothman), you can still get it on the original ship?date of Oct. 26.?Entry-level configurations ordered before the change to the delivery timeframe should ship on time.
We've reached out to Microsoft for comment on this shipment delay, of course. We'd certainly?love to know how many Surface RT tablets have been pre-ordered total?so far, especially considering that the company is rumored to have ordered enough parts to make three to five million Surface tablets in this quarter alone.
Want more tech news?or interesting?links? You'll get plenty of both if you keep up with Rosa Golijan, the writer of this post, by following her on Twitter, subscribing to her?Facebook?posts,?or circling her?on?Google+.
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Baseball-Tigers eliminate Yankees, advance to World Series
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Source: http://news.yahoo.com/baseball-tigers-eliminate-yankees-advance-world-series-233514242--mlb.html
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College of Business - School of Accountancy - HigherEdJobs
Southern Illinois University Carbondale
Position: Coordinator of Special Programs in Accounting
(50% each August 16 through May 15 and 100%
each May 16 through August 15)
Qualifications: The School of Accountancy is seeking qualified applicants for an administrative professional position within the School of Accountancy to manage the Master of Accountancy (MAcc) program and student internships; implement and manage the accountancy online undergraduate degree program. Applicants must have:
- earned a master's degree in accounting from an AACSB-accredited University by date of employment of 1/1/13;
- a Certified Public Accountant (CPA) certification;
- experience teaching in an online program of an AACSB-accredited institution;
- a minimum of one year's work experience as a CPA;
- a minimum of five years' experience teaching accounting at the university-level of an AACSB-accredited institution; and
- personnel management experience.
- Guide and supervise the delivery of the accountancy online undergraduate degree completion program in the School of Accountancy. Manage program delivery in coordination with instructors-of-record to ensure delivery of online course content, and achievement of course objectives.
- Serve as primary point-of-contact with enrolled students in the accounting online completion program.
- Ensure the academic rigor and integrity of the online degree completion program.
- Work with the Director of the School of Accountancy to ensure effective coordination and integration of distance/extended education programs and courses with conventional degree programs.
- Manage the testing/proctoring process for the accountancy online degree completion program.
- Supervise support staff, including graduate/teaching assistants, instructional technologist design specialists, other student and instructional services program coordinators, and other relevant staff related to delivery of accountancy online programs.
- Engage in evaluation and assessment practices to ensure quality outcomes and accountability.
- Support and
adhere to appropriate accreditations and manage processes to meet AACSB and regional accreditation guidelines.
Provide guidance for the development of faculty and student support systems in online context. - Ensure effective use of learning management software, database management systems, customer relations management software, multi-media authoring software and the University and College information technology infrastructure.
- Manage the School of Accountancy MAcc program to include recruiting, admitting, advising, and registering MAcc students. Maintain MAcc files on all applicants and provide reports as needed.
- Adhere to the School's and College's programmatic and regional accreditation requirements per the MAcc program requirements.
- Manage the School of Accountancy internships. This includes recruiting new internship opportunities and maintaining required records for students who intern.
Effective Date of Appointment: January 1, 2013
Application Deadline: November 15, 2012 or until the position is filled.
Application Procedure: Applicants should submit a letter of application, contact information for three references and a resume/vita by email to acctsearch@business.siu.edu, or by post mail to:
Coordinator Search Committee Chair
School of Accountancy - COB-108
Mail Code 4631
Southern Illinois University
Carbondale
1025 Lincoln Drive
Carbondale, Illinois 62901
Telephone: (618) 453-2289, Fax (618) 453-1411
http://affact.siuc.edu/jobs.html
SIU Carbondale is an affirmative action/equal opportunity employer that strives to enhance its ability to develop a diverse faculty and staff and to increase its potential to serve a diverse student population. All applications are welcomed and encouraged and will receive consideration.
Source: http://www.higheredjobs.com/details.cfm?JobCode=175682556
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Woman Facing Charges For Hoarding Over 60 Animals | FOX2now ...
Posted on: 6:29 pm, October 17, 2012, by Shawndrea Thomas, updated on: 09:55pm, October 18, 2012
EDWARDSVILLE, IL (KTVI)? On Monday morning Edwardsville police served a search warrant at 73 Birdie Court after a series of at least 10 complaints and code violations. . City officials say they have been? receiving complaints about issues with unmaintained grass and weeds since 2009.
One of the most recent complaints was a stench coming out of the house.? When police entered the home they discovered at least 60 animals inside, 57 cats and 3 dogs were living in unsanitary conditions.
A woman and her 18-year-old daughter lived inside of the house. Metro East Human Society Executive Director Kathy Turner says this case was shocking.
?Obviously there?s some mental illness issues going on they think they?re doing the animals a favor, but they?re not we know that,? said Turner.
The Metro East Humane Society took in the animals. Now they?re being treated and nursed back to health. Unfortunately, one of the dogs and a cat died in the process. Edwardsville?s city building inspector says the house on Birdie Court is unsafe.
??There are alot of upper respiratory problems lots of problems from inhaling ammonia fumes for so long, they also have extremely matted fur, we had to do a lot of grooming,? she said.
People like Carrie Larsen along with others stopped by to drop off supplies desperately needed to care for the animals.
?It?s a really sad to see animals in that situation because there are? a lot of homes out there that will take care of them,? said Larsen.
Now the homeowner is facing criminal charges of animal hoarding. In the meantime, workers will do everything they can to help the animals find a new, healthy and vibrant home.
?When people see these situations please call the authorities let?s get something cleared up because this is not fair to the animals,? said Turner.
For information on how to adopt and donate http://www.mehs.org/
WARNING GRAPHIC PHOTOS!!
Source: http://fox2now.com/2012/10/17/woman-facing-charges-for-hoarding-over-60-animals/
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