Maple Lawn needs a county bailout from the financial crisis of COVID-19
Maple Lawn, the nursing care facility owned by Branch County, is facing a financial crisis caused by the COVID-19 pandemic. Without a short-term cash infusion of nearly $1 million, nursing home administrator Jane Sabaitis warned, “We won’t be able to pay payroll.” He also asked the county commission for long-term relief in the form of a 0.99 property tax over 10 years. That would have to go on the November general election ballot which requires a commission decision by Aug. 16. Commissioner Tom Matthew said half a mill between 2016 and 2035 was already approved for the latest expansion and…
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Warren Buffett’s Berkshire controls stock buybacks and posts losses of $43.8 billion
Warren Buffett’s Berkshire Hathaway sharply slowed its pace of new investments in the second quarter after its accelerated pace earlier this year, as a sell-off in the U.S. stock market pushed the railroad insurance conglomerate to a loss of $43.8 billion in the three months to June. Berkshire said on Saturday that the slump in global financial markets had weighed heavily on its stock portfolio, which fell in value to $328 billion from $391 billion at the end of March. The reported losses of $53 billion far exceeded an upbeat quarter for its businesses, which improved its profitability. The company’s…
Read More »Today’s stock market news and events: 8/5/2022
Non-farm payrolls, an update on the unemployment rate and average hourly earnings will be released today. The labor force participation rate between the ages of 25 and 54 is also expected. The following public companies are scheduled to release corporate earnings today, August 5: ACM Research Inc. (NASDAQ:ACMR — $18.01) develops, manufactures and sells single-wafer wet cleaning equipment to improve the manufacturing process and performance of integrated chips worldwide. ACM Research will report its Q2 2022 earnings before the bell today. Adient plc (NYSE:ADNT — $33.44) designs, develops, manufactures and markets a range of seating systems and components for passenger…
Read More »Stock Market Sectors: Stock Market Update: Mining stocks fall as market rises
NEW DELHI: Mining stocks closed higher in Friday’s session. 20 Microns (up 10.64%), NMDC Ltd (up 3.26%), Orissa Minerals Development Company (up 2.13%), Pokarna (up 0.82%) and Coal India (up 0.63%) were among the top gainers. Dvpt Corporation (down 3.75%), Oriental Trimex (down 2.20%), MOIL (down 1.78%), Ashapura Minechem (down 0.90%), Aro Granite Industries (down down 0.79%), KIOCL (down 0.70%) and Madhav Marbles and Els granits (down 0.32%) were among the day’s top losers. The NSE Nifty50 index closed up 15.5 points at 17397.5, while the 30-share BSE Sensex closed up 89.13 points at 58387.93. UltraTech Cement (+2.84%), Shree Cement…
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Apple’s enviable cash hoard is dwindling — and that’s surprisingly good news for the stock price
Apple’s cash position is collapsing, and that’s a positive for both the business and the company’s shareholders. However, many investors and Wall Street analysts see signs of trouble as Apple’s AAPL, -0.14% cash and short-term investments have shrunk to $48 billion at the end of June 2022 from $107 billion at the end of 2019, a decrease of 55%. According to a long-standing theory in corporate finance, cash-strapped companies underperform those with smaller savings accounts, on average. This theory was presented several decades ago by Michael Jensen, professor emeritus of business administration at Harvard Business School. In a now famous…
Read More »Most of Warren Buffett’s stock portfolio is tied to just 5 stocks. Here’s what they are
Warren Buffett’s Berkshire Hathaway just revealed that about 70% of its equity portfolio was concentrated in just five names. Here’s a look at these high-conviction bets from the legendary investor. While the conglomerate enjoyed a big uptick in operating earnings, it posted a $53 billion loss on its investments in the second quarter amid general market turmoil. The legendary investor once again asked investors not to focus on quarterly fluctuations in their equity investments. “The amount of investment gains/losses in a quarter is usually meaningless and provides net earnings per share figures that can be extremely misleading to investors with…
Read More »Vertex makes a bullish move on earnings, leading 5 stocks to watch
Your five stocks to watch this week come from a variety of sectors, amid signs of expanding market leadership: the lithium giant Chemical Society I Minra (square meters), semiconductor designer Monolithic feeding systems (MPWR), Commercial metals (CMC), Vertex Pharmaceuticals (VRTX) and electric vehicle manufacturer from China BYD (I WILL DO). X The stock market is in a confirmed bullish trend, with major indexes showing resilience on Friday despite a tepid jobs report suggesting a more aggressive Federal Reserve. VRTX shares are on IBD Classification Board and SwingTrader. Stock of square meters Chile-based chemical manufacturer Sociedad Quimica Y Minra is involved…
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Democrats’ Inflation Reduction Act Is ‘Economic Bad Practice’: Economist
NEWYou can now listen to Fox News articles! During an interview on “Fox & Friends Weekend,” American Legislative Exchange Council economist Jonathan Williams criticized the Democrats’ latest effort to fight inflation, the Inflation Reduction Act, arguing that raising taxes and increasing spending it is “an economic malpractice”. JONATHAN WILLIAMS: And what we need is to go in the opposite direction and actually reduce spending in Washington. Clearly we don’t have a problem here with a lack of tax revenue. We’ve hit record tax revenue again and again in recent years, but we’re simply spending faster than the taxes are coming…
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