What ever happen to learning from your mistakes? Where’s the value in trial and error? What happened to the phrase “if at first you don’t succeed, try, try again? The federal government is here to make all these concepts obsolete. We’re not capable of making big boy decisions anymore. Big business certainly isn’t capable of running itself with massive federal intervention.
Corporate America falls into several categories. AIG was too big to fail. General Motor’s was so poorly run, the federal government, comprised mostly of a bunch of professional politicians who couldn’t run a lemonade stand, took over.
It’s a slippery slope we’re on. The recently passed Financial Regulation creates the federal authority to take control of any financial services company that they deem financially unstable. Kenneth Feinberg, the administration’s executive compensation czar was assigned the task of reigning in ill-advised bonuses paid by AIG, Goldman Sachs, and Bank of America on the heels of receiving TARP money.
These are shareholder, board of director issues. If shareholders and money managers do their due diligence, the market will regulate over time, the board will punish bad management and the federal government could go back to doing whatever it is they do.
What’s next? Will IBM have to send in their office supplies orders for federal approval? Let the bad companies fail, and stay out of the way of the good companies so they can keep this fragile economy from driving off the edge of the cliff.
Today’s Markets
Stocks are higher in the last session of the week as the Dow Jones Industrial Average was up 113 points, or 1.1%, to 10434 in late Friday trading. The S&P 500 climbed 0.7% to 1101, led by its industrial and material sectors. The Nasdaq Composite advanced 0.6% to 2259.
The move came as most of Europe’s biggest banks passed stress tests aimed at shoring up confidence in the region’s economy.
Officials led by the European Central Bank tested 91 banks, and all the major lenders passed, with only 7 failing. The test showed Europe’s banks could suffer approx $730 billion in asset write downs and trading losses over the next two years should the region suffer a recession and an interest rate spike tied to national solvency fears.
Leading the Dow was Verizon Communications up 3.5% after the telecommunications giant’s earnings excluding charges beat analysts’ forecasts. General Electric was up 3%, after raising its quarterly dividend by 20%, in the first increase since it was cut more than a year ago. The company also said it will restart stock buybacks this quarter after nearly two years.
The euro was recently trading at $1.2896, down from $1.2892 late Thursday in New York. The U.S. Dollar Index, reflecting the U.S. currency against a basket of six others, slipped 0.1%. Demand for Treasuries edged down, pushing the yield on the 10-year note up to 2.97%. Crude-oil prices declined, while gold futures rose.
Today’s Top Performers on the OTCBB
| Company | Symbol | Last | Chg | %Chg | Open | High | Low | Vol | |
| Willow Creek Enter | WLOC | 0.55 |  |
0.485 | 746.15% | 0.55 | 0.55 | 0.55 | 200 |
| ZAP.COM Corp. | ZPCM | 0.10 | |
0.08 | 400.00% | 0.10 | 0.10 | 0.10 | 200 |
| Gilla Inc. | GLLA | 0.06 | |
0.046 | 328.57% | 0.029 | 0.06 | 0.029 | 30 k |
| Mainstreet Financi | MSFN | 0.11 | |
0.083 | 307.41% | 0.0685 | 0.11 | 0.0685 | 11.22 k |
| Moneylogix Group I | MLXG | 0.50 | |
0.37 | 284.62% | 0.50 | 0.50 | 0.50 | 500 |
| Capital Resource A | CRRA | 0.006 | |
0.0039 | 185.71% | 0.006 | 0.006 | 0.006 | 5 k |
| Mirenco Inc | MREO | 0.11 | |
0.07 | 175.00% | 0.04 | 0.11 | 0.04 | 1.43 k |
| Carthew Bay Techno | CWBYF | 0.008 | |
0.005 | 166.67% | 0.0081 | 0.0081 | 0.008 | 1,000 |
| RainEarth Inc. | RNER | 0.005 | |
0.003 | 150.00% | 0.005 | 0.005 | 0.005 | 5.5 k |
| Blue Earth Solutio | BESNE | 0.028 | |
0.015 | 115.38% | 0.028 | 0.028 | 0.028 | 100 |
Friday’s Newsmakers:
CoroWare to Present at FSXOne Conference in Fort Lauderdale, Florida
Jul. 23, 2010 (GlobeNewswire)
REDMOND, Wash., July 23, 2010 (GLOBE NEWSWIRE) — CoroWare, Inc. COWI today announced that it will be a first time presenter at FSX (Financial Services Exchange, Inc.) investors conference in Fort Lauderdale.
The company is presenting at the conference to gain exposure to an audience of FINRA member firms and independent broker-dealers that FSX has been bringing to their conferences over the past 27 years.
“We tagline our conferences ‘Connect for Success’ because presenting companies and funding sources build successful working relationships,” said Judy Ensweiler, Executive Director of FSX. “We realize, it takes good companies, meeting with good funding sources, to create a win-win situation, which is always our goal.”
CoroWare will be presenting on the morning of Friday, July 30, 2010, and will highlight its affordable video conferencing service – CoroCall – by including senior management team members who will be presenting live from California and Washington State.
“Over the past 2 years, CoroWare’s employees and management team have been working toward a financial turn-around with the objective of achieving profitability in 2010,” said Lloyd Spencer, CEO of CoroWare, Inc. “We look forward to presenting to and meeting with prospective finance partners who are capable of helping CoroWare rebuild its financial foundation both in the short and long term.”
For questions about CoroWare investor relations, please contact us at investor@coroware.com or 1-800-641-CORO (2676), option 4.
About Financial Services Exchange, Inc.
Founded in 1983, FSX is one of the most reputable and established national alliances in the country for broker/dealer firms. FSX hosts quarterly investment conferences around the country, providing opportunities for networking and one-on-one communication between broker/dealers and presenting companies. Their conferences provide a forum where investment sponsors and FINRA registered principals can meet and communicate without interruption. FSX conferences also provide a forum for direct investment programs, mutual funds, and asset management companies. For more information visit: www.fsx1.com.
About CoroWare
Headquartered in Redmond, Washington, CoroWare is a solutions integrator with expertise in affordable telepresence, business applications, and mobile robotics. For more information on CoroWare’s products and services, please visit www.coroware.com.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners. This press release is written using forward-looking statements pursuant to the Private Securities Litigation Reform Act of 1995: http://www.sec.gov/about/laws/sea34.pdf (Sec. 21E p. 223).
CONTACT:
CoroWare, Inc.
Investor Relations Contact:
Lloyd Spencer
(800) 641-2676, Option 4
investor@coroware.com
Source: Globe Newswire (July 23, 2010 – 2:45 PM EDT)
News by QuoteMedia
Express IR (XIR) is an electronic publication, and is for informational purposes only. The stocks profiled by XIR are only company profiles and are not intended to be and should not be accepted by you as recommendations to buy or sell in these securities. These profiles are compiled from publicly available sources. Our sources include, but are not limited to, online research, company profiles, member suggestions, magazines, newspapers, analyst suggestions, broker recommendations, contact with the company, company rumors, press releases and other similar information sources. All profiles are based on information that is accessible by the public. Investing in stocks involves risk. XIR is not and does not hold itself out to be a registered broker or dealer or other licensed securities professional. You should consult a qualified, licensed financial advisor or stock broker before making any decisions to invest in the securities of any company that is described in these profiles. For compensation and complete disclaimer click here.
Contact:
Ralph Sharp
rsharp@expressir.com
–
More About Small Cap Stocks
-
Penny Stocks 101 | Smallcap Stocks – Penny Stocks 101 So you’ve decided to jump into penny stocks and give it a whirl. The opportunity of investing just a few bucks with the.
-
Short Term Stock Trading in 2009 > How to Pick Hot Small Cap … – Short Term Stock Trading in 2009 > How to Pick Hot Small Cap Stocks – Top Stock Pickers Tips. By .- http://www.MomentumStockPick.com. The stock market should present you with a wide variety NEW hot stocks in 2009. …
-
Dividend stocks – Small Cap Stocks with Big Dividends | InvestorPlace – Some investors are looking for high yield dividend stocks right now as the broad markets are see-sawing around. Here are 9 small cap stocks you may have never heard of, but these high yield dividend investments could be a good fit for …
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
