Bryan Sumner
Since the marketing sector has seen strong gains, Southridge Capital has been doing some research. According to the chair of the Institute for Supply Management™ Manufacturing Business Survey Committee, Norbert J. Ore: “The manufacturing sector grew for the eighth consecutive month during March”.
The rate of growth as indicated by the PMI is the fastest since July 2004.” Mr. Ore also notes of the 17 industries tracked; only the Plastics & Rubber industry reported a contraction this last month.
These positive results are being registered while inflation is kept in check. Southridge Capital is encouraged that the economy is still seeing positive growth.
Southridge Capital was also encouraged by recent reports that retailers posted strong gains for the 5 weeks ending April 3, 2010, with all major retail groups having seen their sales increase in the past 5 weeks.
We think this is a direct correlation to consumers’ feeling a bit better about economy. Unlike the last 2 years where companies waited almost helplessly for consumers to open their wallets (remember, certain old reliables such as: Fortunoff, Circuit City, Chrysler, GM, Filene’s Basement, Eddie Bauer all filed Chapter 11 during this time frame), it appears as if the consumer is ready to jump back in.
One company that has been able to keep it’s head above water over this time is Mattel’s Barbie Doll. For four straight quarters Barbie Doll sales in the United States has increased.
Global sales for Mattel’s Barbie doll also rose 3 percent. Mattel, Inc., (NASDAQ:MAT) did a survey, and voted on making a Barbie doll as computer engineer. Mattel has over 125 different ‘looks’ to it star, and is trading just about at its 52 week high. It’s good to see that there is still enough discretionary income in the system for a Barbie.
If you are interested in finding out more information about this company visit Southridge Capital directly or view their blogspot blog by going to this link Southridge Capital.
Tags: Capital, Finance, investments, money, personal finance
Posted in Finances · May 7th, 2010 · Comments (0)
For one reason or another, most people change banks at least once in their life and therefore have to go through the process of closing their old bank account. This process is fairly straightforward, but it is best to follow certain steps, or you may end up paying unnecessary charges. The first thing you need to do is stop using the account. This means not withdrawing from or adding to your account balance. If you are not sure if you have any outstanding transactions, then ask at the bank or check online. You may also want to open a new account before your old one is closed. Do not rush the decision of who to open your new bank account with, as you need to make a good decision.
Different banks have different cancellation policies, so you will need to contact yours to find out what exactly theirs is. You may be charged a fee for closing your account. When you familiarize yourself with their policies, it is time to pay a visit to the bank and close your account. You may consider going before 3pm so that the bank processes your request on the same day. If you cannot go in person, you may write a letter to your provider and request to have your account closed. You will probably need to provide at least two forms of indentification. If the bank does not have it as a requirement, you may opt for a letter. Your letter should contain personal details such as your name and address, together with the number of your account. It is important to state clearly what you want the bank to do with your remaining balance. They should send you confirmation when your account has been closed anyway, but request it just in case it is not part of their standard procedure. You might also leave your phone number in case the bank needs to get in touch with you.
Do not forget to also close any accounts that are tied in with your main bank account. Think back over any additional accounts that you may have signed up for that you rarely use, or have not used at all. Someone may steal your identity and reopen the account. In the same line of thought, you have to stop all automatic withdrawals, transfers, and direct deposits. This has to be done one month prior to closing your account so that you do not miss any of them. These include bill and insurance payments, membership fees, etc. Destroy / shred your bank cards and cheques as soon as you have your ones from your new bank. If you use them accidentally then you may find yourself being fined. This step is quite important. Once the bank sends you a conformation letter that the account is closed, you have gone though all steps of the process. It is advisable to hold to that letter for a few years just in case any problems arise at a later date. You might also want to periodically examine your credit report, making sure everything is in order with that account.
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Tags: Banking, banks, Finance, money, personal finance
Posted in Banking · April 15th, 2010 · Comments (0)