Category Archives: economy

US Household Pulse – 32% Face Eviction or Foreclosure

Roughly 20% of adults expect someone in their household to experience a loss in employment income in the next 4 weeks, based on responses collected March 3 to March 15. Crueler, 31.5% report eviction or foreclosure in the next two months is “somewhat or very likely.” Continue reading

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Census Survey – Stimulus Payments Eased Financial Suffering

Data from the US Census Bureau clearly support the need and positive effects of stimulus payments, unlike the failed Republican tax cuts for the rich that did not result in increased investments in the US economy because the off-shore holdings were largely fictional tax dodges not real investments in overseas businesses. Continue reading

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Covid Curse – EU Sales Drop 19% in February, -22% YTD

With 771,486 units registered across the EU region, according to ACEA, this marked the lowest February total on record since 2013. All four major EU markets recorded losses last month. Italy posted the smallest drop (-12.3%), while the other markets faced stronger deterioration: Germany (-19.0%), France (-20.9%) and Spain (-38.4%). Continue reading

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Winter Storms Clobber Texas Small Businesses Unduly

There were, however, no questions about their impact on Cancun Ted Cruz’s taxpayer funded vacation that was widely documented in the media. Consider that it’s while designed to measure changing business conditions during the coronavirus pandemic, the SBPS also captures the impact of natural disasters on small business. The picture above documents the damage Texas Governments did to their own small businesses. Continue reading

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Stellantis Reports Legacy FCA, PSA 2020 Financial Results

Nonetheless Stellantis was profitable in 2020 despite COVID-19 with 7.1% Automotive adjusted operating margin at €3.4 billion. Its 9.4% H2 Automotive adjusted operating margin was a record. The net result of group share was €2.2 billion with €2.7 billion Automotive free cash flow and a €13.2 billion Automotive net financial position. Continue reading

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SEC Starts Task Force on Climate Change Investment Risks

What this means, in short, is that things are getting tougher for companies that are part of the global warming crisis or want to profit from investors who wish to support firms that are run on an environmentally friendly basis.  but wish to avoid the consequences. Environmental, social, and governance (ESG) criteria are an “increasingly popular way for investors to evaluate companies in which they might want to invest,” said the SEC. In the financial markets, mutual funds, brokerage firms, and robo-advisors now offer products that employ ESG criteria. ESG criteria can also help investors avoid companies that might pose a greater financial risk due to their environmental or other practices. Continue reading

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Porsche SE Profit For Fiscal Year 2020 Forecast at €2.6 Billion

The group result after tax of Porsche SE is influenced significantly by its equity result from the capital stake in Volkswagen AG of currently about 31.4%, and thus by the group result after tax of Volkswagen AG. Continue reading

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Census – 35% of Households Say it is Difficult to Pay Expenses

Better late than never. But for the suffering it’s small compensation for enduring a seditious President for four years who – based on his actions in office was unemployed all the while being pampered, housed, fed and subsidized – aka welfare for the rich –  by taxpayers he disdains. Continue reading

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Pandemic Negative Impact on Global Auto Industry Is Permanent. Debate is over How Bad and Who Gets Hurt

LMC says globally the Pandemic recovery is a K-shaped curve. There are winners and losers. Continue reading

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General Motors Posts 2020 Earnings of $6.4 Billion. Q4 at $2.8B

GM Financial reported record full-year EBT-adjusted of $2.7 billion. GM North America posted full-year EBIT-adjusted of $9.1 billion, and EBIT-adjusted margin of 9.4%. GM International lost money at a full-year EBIT-adjusted of $(0.5) billion with China Equity Income of $0.5 billion. Cruise struggled with a full-year EBIT-adjusted loss of $(0.9) billion. Continue reading

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Nissan Losses ¥37.8 Billion in Q3. Alliance Still Shaky

As for the unstable Alliance post-Ghosn, “Nissan’s results during the Q3 of fiscal year 2020/2021 (October 1st to December 31st 2020), after IFRS restatements, will have a negative contribution to Renault’s Q4 2020 net income estimated at – €123 million,” Renault said in a separate release. Continue reading

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Mazda Increases Forecast for Fiscal Year Ending March 31

In a victory of sorts over COVID19, Mazda Motor Corporation today revised upwards its consolidated financial forecast for the Fiscal Year Ending  31 March 2021. Nevertheless Mazda is still losing money and is in a perilous, company-threatening position with huge soaring debt and ongoing breathtaking operating losses. Continue reading

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Ford to Upgrade, Expand South African Plant for 2022 Ranger

Silverton will become one of the first Ford plants globally to achieve “Island Mode” status, becoming entirely energy self-sufficient and carbon neutral by 2024. The plant also will manufacture Volkswagen pickups trucks as part of the Ford-VW alliance. Continue reading

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Toyota’s 2020 Global Sales down -10.5% Year-on-Year

The best-selling Toyota vehicle from January to December was the RAV4, with global sales of 994,000 units (up 2.9% year-on-year). This RAV4 result was due to strong sales in North America, the primary market, as well as in China, which had sales of 175,000 units (up 37.9% year-on-year). Continue reading

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IndustriALL Global, IndustriAll European Trade Union Ask for Justice and Solidarity in Covid Fight

“No continent, no country, no economy, no person will be safe until the whole world is safe. Vaccine nationalism is a short-sighted response to this global problem. It will prolong the pandemic and the threat of new variants endangering us all. We stand for the right of universal access to vaccination,” said IndustriALL. Continue reading

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