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FDIC report helps you make local sense of record bank profits
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FDIC report helps you make local sense of record bank profits

By on Sep 03, 2014

A recently released report from the FDIC on quarterly U.S. bank performance contains the nuggets for a variety of stories that reflect your local area’s economy. As Reuters reports, banks earned more than $40 billion in the second quarter of 2014, according to the Federal Deposit Insurance Corporation’s Quarterly Banking Profile.  Financial institutions are setting […]

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Huge Atlantic City Casino Shuts Down NPR
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As large-market casinos fold ‘em, how are local casinos holding up?

When the first slot machines hit Michigan a couple of decades ago in a small tribal casino, the notion of spinning the wheels was enough of an unheard-of novelty that my mother and I drove two and a half  hours to the central part of the state, for the pleasure of pumping our dimes and quarters into […]

Stock market records mean little to households with no access to market
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Stock market records mean little to households with no access to market

Wall Street chalked up another milestone on Tuesday when the Standard and Poor’s 500 index closed above 2,000 points for the first time ever, buoyed by gains in durable goods orders and higher consumer confidence, as Reuters reports. Those big round numbers are causing the usual buzz in the financial press — the Wall Street […]

Tim Horton's coffee cups and Burger King bag
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Burger King bid for coffee shops puts fast food evolution in the spotlight

Wall Street gobbled up shares of fast-food monarch Burger King on Monday, following word that the 60-year-old chain might be headquartering north following the acquisition of the Tim Horton’s coffee and doughnut shops. Both chains enjoyed double-digit stock price hikes, with investors licking their chops over the favorable tax situation Burger King would enjoy as […]

Labor Day activities boating
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Chronicle the changing nature of jobs for a fresh take on Labor Day

With Labor Day only a week away, you may be pondering ways to commemorate the holiday, which was first observed in September 1882 in New York City, according to an account on the U.S. Department of Labor website. In the ensuing 132 years, the ebb and flow of the organized labor / collective bargaining movements […]

Ongoing Ferguson strife highlights economic, business concerns elsewhere
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Ongoing Ferguson strife highlights economic, business concerns elsewhere

The ongoing civil unrest in Ferguson, Mo., sparked by the police shooting of teenager Michael Brown, seems a bit of a stretch as a premise for business coverage. But with no end in sight to the confrontations and headlines – especially in light of another shooting on Tuesday in the St. Louis area – and […]

Businesses beyond retail chalk up back-to-school sales
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Businesses beyond retail chalk up back-to-school sales

It’s axiomatic that back-to-school season is good business for apparel and footwear sellers, purveyors of pencils and gadget suppliers. But for an interesting twist on the standard end-of-summer stories, how about a look at other businesses that benefit from back-to-school, including unexpected sectors like lice salons and bars.  Services that reflect the realities of hectic […]

Tony Steward sponsors
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Racetrack accident highlights pros and cons for corporate sports sponsors

It’s been a rough stretch for corporate sponsors of sporting events, who’ve had to react to public relations fiascos ranging from Lance Armstrong’s drugging revelations to the racist remarks by the soon-t0-be former L.A. Clippers owner Donald Sterling.  Now, a motorsports incident over the weekend has set the stage for another dilemma for corporate underwriters […]

BEA Personal Consumption Chart
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August is the month for getting thrifty, counting resales

Over the weekend a neighbor hefted a brightly-colored plastic outdoor play set and proudly noted that it had been a bargain purchase at a local thrift shop, just in time for another visit by the grandkids. Wow, I thought, what an illustration of the timid consumer spending that – despite an uptick in June, as […]