Sunday, June 3, 2012

Pope criticizes profit-seeking, says his image of heaven is his childhood in Bavaria

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Dow plunges more than 200 after dismal jobs report

A dismal U.S. jobs report and other evidence of a global economic slowdown clobbered U.S. stocks Friday. The Dow Jones industrial average dropped more than 200 points, leaving it down for the year.

The Standard & Poor's 500 index and Nasdaq composite index both fell more than 2 percent, and the Dow was on track for its steepest one-day drop in more than six months.

American employers added just 69,000 jobs in May, the fewest in a year, and the unemployment rate increased to 8.2 percent from 8.1 percent. Economists had forecast a gain of 158,000 jobs.

The report, considered the most important economic indicator each month, also said that hiring in March and April was considerably weaker than originally thought.

"The big worry now is that this economic slowdown is widening and accelerating," said Sam Stovall, chief equity strategist at S&P Capital IQ, a market research firm.

The job picture remained dark elsewhere in the world. Unemployment in the 17 countries that use the euro currency stayed at a record-high 11 percent in April, and unemployment spiked to almost 25 percent in Spain.

There were also signs that growth in China, which helped sustain the global economy through the recession, is slowing significantly. China's manufacturing weakened in May, according to surveys released Friday.

The Dow fell 242 points to 12,151 as of 1:30 p.m. EDT, leaving it down 0.5 percent for the year. Two months ago, the Dow was up more than 8 percent for the year.

The Standard & Poor's 500 index fell 29 points to 1,281. The Nasdaq dropped 70 to 2,757. Both indexes are still up for the year ? just shy of 2 percent for the S&P 500 and 6 percent for the Nasdaq.

Traders sold all types of risky investments and stampeded toward the safety of U.S. government bonds and gold. Bond prices rose sharply, pushing the yield on the benchmark 10-year U.S. Treasury note down to 1.44 percent, the lowest on record.

Gold rose $59 an ounce to $1,624. For much of the past three years, investors have bought gold for safety during a turbulent time for the world economy. That effect appeared to wear off this spring as the dollar strengthened against the faltering euro. Commodities like gold are often valued by dollars, so when the dollar rises, those commodities become more expensive.

May was the worst month for the stock market in two years by some measures. Investors' worries about Europe's debt crisis intensified as the month wore on. Greece's political future is uncertain, and it appears increasingly likely to exit the euro currency. That could rattle financial markets and make Greece's economy ? already hobbled ? even weaker.

Friday's jobs report drew traders' attention back to the weakening U.S. economy, said Todd Salamone, director of research for Schaeffer's Investment Research in Cincinnati.

"The weaker jobs report translates into anticipation of slower growth ahead and weaker corporate earnings, and that ratchets stock prices lower," Salamone said.

The record-low yield on the 10-year Treasury note reflected rapid buying by big traders with the biggest portfolios, including central banks, endowments and pension funds, said Ira Jersey, U.S. interest rate strategist at Credit Suisse. He said money managers were selling investments priced in euros and stashing their money in U.S. securities.

Stovall said that traders are waiting to see what governments and central banks might do to juice global economic activity. Otherwise, the losses would be even deeper, he said.

The Fed undertook programs in 2009 and 2010 to buy U.S. government bonds. The goal was to lower interest rates and help stock prices. The central bank so far has resisted a third round of purchases, known as quantitative easing.

Anticipation of bond-buying by the Fed "might put in a little bit of a floor to the market, but the overall economic picture is still bad," said Bob Gelfond, CEO of MQS Asset Management, a New York hedge fund.

The dollar weakened. The euro rose half a penny against the dollar to about $1.24. A day earlier, fears about Europe's finances had pushed the euro to a nearly two-year low against the dollar.

Gold spiked and the dollar fell partly because traders expect more intervention by the Federal Reserve, Gelfond said.

Bond-buying adds to the supply of money coursing through the economy and leads some investors to worry about future inflation, which would make the dollar less valuable. Traders buy gold as a hedge against inflation.

Geoffrey Yu, currency strategist at UBS in London, agreed that speculation about Fed action had sparked the dollar's sharp decline after the jobs report was released. But he said that knee-jerk reaction was brief, and the dollar stabilized as people recognized that the Fed will likely hold off on more action unless things deteriorate further.

Fewer than 20 of the 500 companies in the S&P index were higher for the day.

Homebuilder stocks fell the most, despite a report that construction spending rose for a second month in April. PulteGroup fell 11 percent, D.R. Horton and Lennar 9 percent. The three had the biggest declines of companies in the S&P 500.

Boeing, the biggest U.S. exporter, fell 3 percent, one of the biggest declines among the 30 companies that make up the Dow. Traders fear that the economic slowdown will hurt global demand for its airplanes and defense technologies.

A slower global economy would reduce demand for energy. The price of a barrel of oil fell about $3 to $83.21, extending a monthlong slide.

Stocks closed way down in Europe. Greece's benchmark stock index fell 4.4 percent, Germany's 3.4 percent and France's 2.2 percent.

___

AP business writers Matthew Craft, Joseph Pisani and Christina Rexrode in New York contributed to this report.

___

Daniel Wagner can be reached at www.twitter.com/wagnerreports .

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US State Dept. Advisory Committee Meeting on International Law

? EU Brings WTO Dispute Against Argentina | Main

June 1, 2012

US State Dept. Advisory Committee Meeting on International Law

The US State Department Office of the Legal Advisor is sponsoring a meeting of the Advisory Committee on International Law on Wednesday, June 13, 2012, from 9:30 a.m. to approximately 5:30 p.m., at the George Washington University Law School (Michael K. Young Faculty Conference Center, 5th Floor), 2000 H St. NW., Washington, DC. The meeting will be chaired by the Legal Adviser of the Department of State, Harold Hongju Koh, and will be open to the public up to the capacity of the meeting room. It is anticipated that the agenda of the meeting will cover a range of current international legal topics, including the law of immunity, international criminal law, transnational disincentive mechanisms, and future international law priorities for the Office of the Legal Adviser.

Members of the public who wish to attend the session should, by Wednesday, June 5, 2012, notify the Office of the Legal Adviser (telephone: (202) 776-8344) of their name, professional affiliation, address, and telephone number.

(cgb)

June 1, 2012 | Permalink

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Friday, June 1, 2012

2003 ACURA 3.2 CL Type-S Auto Insurance Information

Acura 3.2 CL Type-S

For the 2003 model year, Acura's goals for the 3.2 CL were to:
Increase performance
Update styling for a sleeker, more aggressive look

In support of those goals, the 2003 3.2 CL has received the following enhancements:

Powertrain
While it continues to come with a 5-speed Sequential SportShift automatic transmission, the CL Type-S now offers a new close ratio 6-speed manual transmission as well. Models with the new manual transmission also feature:
- Helical limited slip differential
- Curb weight of 3446 lbs. (compared to 3510 lbs. for the CL Type-S with automatic transmission)
- Multi-cone synchronizers
- Self-adjusting clutch with dual-mass flywheel
- Short-throw shift linkage

Chassis
+ CL Type-S with manual transmission replaces the VSA found in the CL Type-S with automatic transmission with new helical limited slip differential
+ New 6-spoke 16 inch wheels (3.2 CL)
+ New 6-spoke 17 inch wheels (CL Type-S)
+ CL Type-S with manual transmission adds two hydraulic engine mount dampers to counter engine movement

Body
Front Styling
+ Revised grille with body-colored surround
+ Revised headlights with black accents
Rear Styling
+ Revised taillight lenses with clear upper portion
+ New exhaust finishers

Safety/Convenience
+ OnStar(R) is standard equipment on CL models equipped with the Acura Satellite-Linked Navigation System
+ Lower Anchors and Tethers for Children (LATCH) System added on outboard rear seats for child safety seat attachment
+ Driver's Dual Stage Supplemental Restraint System (SRS)
+ Auto-up driver's side window

Interior Styling
CL Type-S
+ Models with black interiors receive titanium-look trim on doors and center console
+ In models with 6-speed manual transmission, center console redesigned to accommodate manual shifter and hand-operated parking brake
+ Perforated leather door inserts

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The New Handmaids

In Dan Wells? action-filled Partials, another trilogy opener, a virus is once again to blame for America?s destruction?well, a virus and the Partials, a race of engineered supersoldiers who turned on their human creators after the Isolation War with China. A small population of survivors has made Long Island into their stronghold, and it?s there that 16-year-old Kira investigates why babies with virus-immune parents all die within days of being born. The clock is ticking for Kira; all women must try to conceive by age 18 and keep having children as long as they possibly can, according to the Hope Act. (Why not the Pregnancy Opportunity Act?) After Kira undertakes a desperate journey into kudzu-covered, derelict Manhattan, hoping that the Partials can help her find a cure for the virus, the Hope Act age is lowered to 16.?We?re talking about the government taking full control over your body,? a friend tells Kira. ?What it?s for, what you do with it, and what other people can do to it.?

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Tips to succeed with bad credit car finance | Pay Day Loans ...

May 31st, 2012

Bad credit car finance does not automatically preclude you from accessing car finance. What does that tell you? Yes, you can still chase that dream car you have been pining for. Now you are probably thinking who would afford me a car of my choice regardless of my bad credit rating. Surely, there has to be some mantra to be chanted aloud to achieve success. Well think again. Just because your or your neighbor?s kid had a bad report card did he turn out to be loser?car finance with bad credit score

A bad score is not something to be highlighted, divulged, promoted or announced. A bad credit car finance rating is certainly not something to be proud of. A student can locate a bursary, a scholarship, a coop program, an assistantship or internship to help pursue the career of their choice regardless of their math score.? Similarly, it is possible to locate a variety of sources that can provide you finance with reasonable terms to help purchase your automobile from any dealership.

As automobile manufacturers outsource jobs to stay ahead of competition, we are a witness to an emerging economy. Car sales are booming again. Therefore financiers are relaxing credit requirements. You will not only find ?a financier who is willing to help you but actually have access to several deals. So do not say yes to the very first loan agreement that comes by.

You may contact your bank where you have a savings account for a loan. It is also not a bad idea to contact your employer if they have any auto finance program where they can debit the money off your paycheck. But the odds of you meeting success from these channels is not good. It is important to not stop looking. A broker has not setup shop ?to hire pen pushers. It is in his interest to make money. It benefits him to get someone like you with bad credit car finance a nice-looking car. You may want to exercise caution if a lender is targeting you for a subprime loan. If you find a deal to be suspicious then you are advised to contact several online brokers who understand your needs and you are comfortable dealing with.. It is not mandatory for a lender to approve a loan. But there is no blacklist as such that is prepared offhand for bad credit either. ?All credit applications are assessed by merit even with a low score. Credit ratings change very fast so it is recommended to check your credit file every year from the three designated credit referral agencies. It is possible your file does not include the job you recently started.

Do not undersell yourself. This is a psychological move to boost your confidence and keep the lender on his toes too.? A car loan is not the same as mortgage for a home in a posh residential area. Car loans involve less principal and will likely be paid back in less than a decade if you honor the terms. Home mortgages on the other hand can last you a lifetime. So if you were refused a mortgage the lender will consider you for bad credit car finance as the agreement involves much more relaxing clauses.

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bad credit car finance

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