U.S. markets close back below 10,000 today as worried investors see debt in Europe and weaker than expected jobs numbers in the U.S. as bearish for stocks. The slight improvement in unemployment was tarnished by the addition of nearly 400,000 government census temporary hires … leaving only 41,000 jobs being added by the private sector. This addition of 431,000 fell far short of the expectations of 515,000 jobs predicted by economists.
For those traveling to Europe this summer (so as long as you’ve already purchase airfare), you’ll see your U.S. dollar stretch a bit further against the Euro which continues to weaken – Euro to below $1.20 at a four year low. Although Greece, Portugal and Ireland have been the biggest concerns in Europe, today’s news focused on Hungary. A leading official in the ruling Fidesz party said Thursday that “Hungary faces a Greek-like sovereign-debt problem” and although Hungary is not part of the euro zone, it is an important regional trading partner to countries that do use the common currency.
In an attempt to find something positive to say going into the weekend, BP has capture “some” oil from the the funnel-like lid is designed to channel oil for pumping to a surface tanker, but recent video is still “showed that the oil seemed unimpeded” as it leaked into the Gulf of Mexico. The best chance to stop the leaking will still be the drilling of relief wells, which according to reports are at least two months away. The disaster makes anyone who appreciates the environment, oceans and wildlife just sick.
Roz Savage finished her row across the Pacific Ocean and is welcomed into Madang, Papua New Guinea by a crowd of 5000 welcomers. Her rowing, endurance and spirit is amazing. Here’s a snippet from her blog, rozsavage.com.
The first local people to congratulate me were a few fishermen, out early in their outrigger canoes, who formed an orderly line to pass close to my boat and shake my hand.
They were just the first of many. As I neared the harbour a flotilla of about twenty canoes, all decked out in traditional garlands of leaves, came out to join me and escort me to the dock. I hope you’ve seen the photos that Mum posted earlier, and seen how splendid the boats and their paddlers looked. Everybody was smiling, especially me. I kept stopping to wave to the crowds, who waved back enthusiastically. I wish I could find a way to row and wave at the same time, but I’m still working on it.
As I got closer to the dock the crowds on the shoreline thickened. Schoolchildren in uniform created blocks of colour. As I rounded the corner towards the Madang Resort the harbour wall was absolutely packed. The estimated number is five thousand people, and I don’t think that is any exaggeration.
We completed the formalities on the dock, and then I was free to step ashore. I was met by the Governor of PNG, who explained the meaning of the traditional garlands and string bags that various well-wishers placed around my neck. As we moved through the crowd everyone was reaching out to shake my hand or touch me. It could have been overwhelming to be surrounded by such a crush of humanity after 46 days at sea, but in fact it felt great.
An easy way to listen to web-based radio is using Radium on the Mac. By entering a contest at mac.apstorm.net you might even get a license free. (Thanks Scott)
9 Radium Licenses Up For Grabs
Today we’re kicking off a new competition to win a copy of Radium. We recently reviewed Radium, and were really impressed. It’s simple, functional, and an absolutely fantastic way to listen to the radio on your Mac!
We have nine licenses up for grabs, and entering is really simple. All you need to do is:
Post a link to this competition – either on your website, or via Twitter
Leave a comment, letting me know where you posted the link!
The competition will run for one week, and we’ll announce the winners on the Friday, 11th June. Good luck, and enjoy your weekend!
While heading home the distant lightning lit night and the sky making for an interesting photo … so stuck the camera out the window for a 2 second exposure just as the bolt brighten the surroundings.
After HP purchased Palm, most developing and carrying around webOS mobile devices had a sigh of relief believed that having a bigger company behind Palm would give them a chance to compete in the crowded handset device market. Unfortunately HP CEO Mark Hurd isn’t seeing things the way Palm advocates did? Thanks for the link Scott.
You’d think spending a billion dollars on a smartphone company would indicate a desire to, say, make and sell smartphones, but you’d apparently be thinking wrong: HP CEO Mark Hurd just told investors at the Bank of America Merrill Lynch tech conference that his company "didn’t buy Palm to be in the smartphone business," and that he’s not going to "spend billions of dollars trying to go into the smartphone business; that doesn’t in any way make any sense." Yes, that sound you’re hearing is Jon Rubinstein’s heart breaking into a million tiny pieces. According to Hurd, HP was actually more interested in Palm’s IP — specifically webOS, which he wants to put on "tens of millions of HP small form-factor web-connected devices." Sure, that makes sense, and it lines up perfectly with HP’s plan to "double down on webOS" and put it on everything from netbooks and slates to printers, but hey, Mark? You should really look into the smartphone business when you get a second, okay? Just trust us on this one.
We didn’t buy Palm to be in the smartphone business. And I tell people that, but it doesn’t seem to resonate well. We bought it for the IP. The WebOS is one of the two ground-up pieces of software that is built as a web operating environment…We have tens of millions of HP small form factor web-connected devices…Now imagine that being a web-connected environment where now you can get a common look and feel and a common set of services laid against that environment. That is a very value proposition.
10 am to 1 pm
Flotilla to welcome Stowe from south of the Verrazano Bridge to Pier 81
All vessels must register. — Flotilla Plan
Noon (approximately)
Best viewing of the Welcome Flotilla is at Robert F Wagner Park along the Battery Parkcity Esplanade; Bring signs saying “WELCOME HOME, REID!!!”
1 pm to 3 pm
Welcome event on Pier 81 (World Yacht / Circle Line)
Foot of West 42nd Street & Hudson River
Stowe lands, reunited with family, greetings by NYC VIPs, photo oppty.
Free admittance by Press Event Pass reservation, only.
Pier 81 event, food & champagne generously hosted by Circle Line / World Yacht
The stock market rebounded on Tuesday after selling on the government’s comments regarding criminal investigations of BP yesterday. Since I regularly reflect on moves down, it is about time to acknowledge that their is still an appetite for value … in today’s case, energy sector stocks.
Most stocks were up as the DJIA jumped 225.52 points, or 2.2% to 10249.54. Big movers were Exxon Mobil and Chevronof the energy sector, as well as American Express and Walt Disney — both up over 4%. For BP conditions in the Gulf haven’t improved as the “Top Kill” operation to plug the Gulf spill failed. Today they are attempting to try a rubber sealed cap, although cutting the pipe one mile under the ocean is proving to be a big challenge. (Link to their response website)
Still, for investors worried about the economy and if or when they should invest in companies, today was positive. For companies themselves, seeing signs of recovery and a desire to hire will be a first step to improving unemployment woes for many Americans. The news yesterday that the Bank of Canada would be tightening interest rates also underscores that internationally we may be seeing a recovery.
This grab taken from a BP live video feed shows the energy giant’s latest attempt to stop fluid escaping from the fractured pipe / AFP
Speaking of “more government,” how about adding a few more thousand dollars to the price of a car? Do we really need another electronic gadget … a black box … for our cars? (Neil Cavuto video clip below)
tarnished by the addition of nearly 400,000 government census temporary hires … leaving only 41,000 jobs being added by the private sector. This addition of 431,000 fell far short of the expectations of 515,000 jobs predicted by economists.
