July 26, 2013 |
NEW YORK - Even the stock rally may need a summer vacation. Investors have been pouring back into stocks this month, pushing major U.S. stock indexes up more than 4% in July. But the rally took a bit of a respite over the last five days, ending the week up only slightly. "The market is just taking a pause," said Paul Zemsky, head of multi-asset strategies for ING U.S. Investment Management in New York. Stocks' July gains still amount to "a pretty big move in one month. " The Dow Jones industrial average added only 3.22 points, or 0.02%, to 15,558.83 on Friday as Chinese leaders rekindled worries over growth and a credit bubble in the world's second-largest economy.
July 22, 2013
The company: Anworth Mortgage Asset Corp. Headquarters: Santa Monica Ticker: ANH Employees: 11 Leadership: Lloyd McAdams, president and chief executive since 1998 Fiscal 2012 revenue: $201.6 million Fiscal 2012 net income: $100.2 million Stock price: $5.16 at Friday's close 52-week range: $4.62 to $6.99 P/E ratio: 8.2 based on estimated 2013 earnings Quarterly dividend: ...
July 19, 2013 |
NEW YORK - Investors pushed major U.S. indexes to a fresh round of all-time highs this week after strong profit reports from Wall Street banks were seen as another sign that the economy is improving. Citigroup Inc., Goldman Sachs and Morgan Stanley all reported that their investment banking business did big business during the second quarter. Analysts viewed that as a sign companies are turning to major financial firms to raise money and expand. Bulls hope that stronger corporate profits will help the underlying value of stocks and keep this year's rally going.
July 14, 2013
Re "How NIMBYs hurt California," Opinion, July 12 Economist Christopher Thornberg evidently wants us to believe that market economics do not apply to individual real estate developers. Referring to a proposed retail-residential development in West L.A., he states, "Of the residences, more than 10% will have an 'affordable' status, meaning other units will be priced commensurately higher to subsidize them. " Does Thornberg believe that a developer can pass on each dollar of additional cost to the consumer?
July 12, 2013
Re "Catholic bishops cry wolf," Editorial, July 8 Conservatives and progressives hold conflicting conceptions of liberty. For conservatives, liberty has meant being free to dominate or control others. For progressives, liberty has meant liberation from others' control. Edmund Burke, the archetypal conservative, viewed English "liberty" as including a hierarchical, hereditary monarchy and aristocracy. In the post-Civil War period in the U.S., Southern conservatives viewed maintaining laws that favored whites as part of their liberty.
July 12, 2013
Re "Democracy and Prop. 8," Letters, July 11 I could not let pass the opportunity to point out the fallacy of Tony Hillbruner's letter lamenting the invalidating of Proposition 8. Hillbruner stated that when ruling on Proposition 8, federal District Judge Vaughn R. Walker, a gay man, should have recused himself for bias. One of the arguments used by proponents of Proposition 8 in the 2008 campaign was that gay marriage harms straight marriages. Under that argument, which I and many others never understood, wouldn't that negate the bias argument, as heterosexual judges would also have cause to rule a certain way because of their orientation?
July 11, 2013
In baseball, it's often said that it's what a hitter does his second time around the league that is a testament to his abilities. A look at what Yasiel Puig has done against the three teams he has faced in two series this season: San Diego (June 3-5) 5 for 12 2 homers 5 RBIs .417 avg. San Diego (June 20-23) 4 for 16 1 homer 1 RBI .250 avg. San Francisco (June 24-26) 6 for 12 1 homer 2 RBIs .500 avg. San Francisco (July 5-7)
June 29, 2013
Re "DWP to tap water over toxic site," June 24 A better idea than pumping and treating water from contaminated wells is to use less water. Half of all residential water use in Southern California - more in some areas - is for landscape needs, including to keep our imported lawns green. Homeowners, landlords, businesses, schools and others should grow native California plants in most places, reserving grass for recreational and sports activities that require it. Once established, colorful, water-wise, environmentally friendly native plants that Mother Nature intended to grow here use one-seventh as much water, while helping native birds, butterflies and pollinators thrive.
June 26, 2013
Re "Public may get little in stadium deal," June 23 The Times' story about the public getting little in return from the deal to give USC control over the taxpayer-owned Los Angeles Memorial Coliseum was very one-sided. Of course USC should run the Coliseum and put the profits back into improving the building. The state, county and city have proved beyond any question that they have been inept in their attempts to run the city's most famous sports venue. With the university across the street from the Coliseum, it is in everyone's best interest to turn it over to USC, which promises to fix up the place.
June 26, 2013
Re "Tweeting by mail," Opinion, June 23 As a man of 85, I have seen the transition from postcards to Twitter, and I can say without hesitation that both serve a valuable purpose in communicating in simple language. There is a fundamental aesthetic quality in Japanese haiku: that it is internally sufficient, independent of context and bears consideration as a complete work. Some postcards have gained these qualities through time and use. Let us hope that concise tweets of intelligence and poetic structure may do the same.