WACHOVIA'S $9 BILLION LOSS
NEW YORK (CNNMoney.com) – Wachovia Corp. has posted an $8.9 billion loss for its second quarter.
Wachovia's quarterly report followed those of peers Bank of America, Citigroup, JPMorgan and Wells Fargo, all of whom reported hefty losses or declines in profit.
Excluding a one-time, $6.1 billion charge related to "declining market valuations," the North Carolina–based bank said it lost $2.67 billion, or $1.27 per share.
It was the second consecutive quarterly loss for Wachovia, marking the first time the bank reported back-to-back losses in 20 years.
**We're just a tiny, word of mouth resort Island, in the U.S., on the the same parallel as Miami, with GREAT real estate investment opprountities, for the contrarian Investor.**
-Roman
Friday, August 8, 2008
Thursday, August 7, 2008
Texas Rocks!!!
EMPLOYMENT NEWS STILL POSITIVE
COLLEGE STATION (Real Estate Center) – The Texas economy continues to create more jobs albeit at decreasing rates while the nation’s labor market is losing jobs. Texas nonfarm employment rose 2.3 percent from June 2007 to June 2008 compared with a 0.1 percent decrease for the United States.
The state’s seasonally adjusted unemployment rate rose from 4.3 percent in June 2007 to 4.4 percent in June 2008.
Driven by higher oil prices, the state’s mining industry ranked first in job creation, followed by professional and business services, leisure and hospitality, construction, and education and health services industry.
All Texas metros experienced positive employment growth rates from June 2007 to June 2008. Smaller metro areas posted the highest employment growth rates. Longview ranked first in job creation followed by McAllen-Edinburgh-Mission, Odessa, College Station–Bryan, and Killeen–Temple–Fort Hood.
The state’s actual unemployment rate in June 2008 was 4.8 percent. Midland had the lowest unemployment rate, followed by Amarillo, Odessa, Abilene, San Angelo and Victoria.
The complete economic review is available on the Real Estate Center's website.
COLLEGE STATION (Real Estate Center) – The Texas economy continues to create more jobs albeit at decreasing rates while the nation’s labor market is losing jobs. Texas nonfarm employment rose 2.3 percent from June 2007 to June 2008 compared with a 0.1 percent decrease for the United States.
The state’s seasonally adjusted unemployment rate rose from 4.3 percent in June 2007 to 4.4 percent in June 2008.
Driven by higher oil prices, the state’s mining industry ranked first in job creation, followed by professional and business services, leisure and hospitality, construction, and education and health services industry.
All Texas metros experienced positive employment growth rates from June 2007 to June 2008. Smaller metro areas posted the highest employment growth rates. Longview ranked first in job creation followed by McAllen-Edinburgh-Mission, Odessa, College Station–Bryan, and Killeen–Temple–Fort Hood.
The state’s actual unemployment rate in June 2008 was 4.8 percent. Midland had the lowest unemployment rate, followed by Amarillo, Odessa, Abilene, San Angelo and Victoria.
The complete economic review is available on the Real Estate Center's website.
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