MBS Day Ahead: Will Pending Home Sales Data Sing Same Tune as Other Housing Data

The National Association of Realtors publishes reports for both Pending and Existing Home Sales.  The conventional wisdom is that Pending Sales tend to foreshadow Existing Sales to some extent.  Precedent suggests that More »

MBS Day Ahead: Will Pending Home Sales Data Sing Same Tune as Other Housing Data

The National Association of Realtors publishes reports for both Pending and Existing Home Sales.  The conventional wisdom is that Pending Sales tend to foreshadow Existing Sales to some extent.  Precedent suggests that More »

Why now’s not the time for expensive tax cuts

President Trump and Republicans in Congress are on the verge of delivering a big tax cut for businesses. There’s just one catch: Neither the economy nor corporate America needs it. For years, More »

New York Mayor Bill De Blasio Begins 2nd Term at City Hall

You don’t have permission to access “http://www.usnews.com/news/best-states/new-york/articles/2018-01-01/nyc-mayor-bill-de-blasio-set-to-begin-2nd-term-at-city-hall” on this server. Reference #18.5adf02cc.1514869582.202a229a Article source: https://www.usnews.com/news/best-states/new-york/articles/2018-01-01/nyc-mayor-bill-de-blasio-set-to-begin-2nd-term-at-city-hall More »

Leader of NYC Ballet Retiring Amid Misconduct Investigation

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Bombardier Inc. (BDRBF: OTCQX International Premier) | Bombardier to Supply 17 Additional Locomotives to New Jersey

BERLIN, GERMANY–(Marketwired – Jan 2, 2018) –

Note to editors: To view the photo associated with this press release, please visit the following link: The BOMBARDIER ALP-45 Dual-Power Locomotive (Photo:Roman Porta)

Rail technology leader Bombardier Transportation announced today that New Jersey Transit Corporation (NJ TRANSIT) has exercised an option for 17 additional BOMBARDIER ALP-45 dual-power locomotives. This second call off is valued at approximately $160 million US (133 million euro) and is based on a contract for 26 locomotives signed in 2008. NJ TRANSIT exercised a first option for nine units in 2011 and the contract includes options for up to 37 more units.

“This option order is confirmation of the confidence NJ TRANSIT has in our highly innovative, energy efficient, reliable, and safe equipment,” said Benoit Brossoit, President, Americas Region, Bombardier Transportation. “The new locomotives will comply with the EPA’s Tier 4 Exhaust Limits, making them environmentally friendly which is especially important in a metropolitan area like New York.”

The dual-power locomotives are capable of operating under both diesel power and alternating current electric power from overhead sources. Their flexible power system enables the locomotives to operate across the entire NJ TRANSIT rail system, which includes both electrified and non-electrified lines, thus allowing passengers to ride a single train between New Jersey and New York Penn Station without having to change trains. Their introduction in 2011-2012 at NJ TRANSIT and the then Agence Métropolitaine de Transport in Montreal (now named Réseau de transport métropolitain) marked a first for this technology in North America.

The locomotives will be manufactured at Bombardier sites in Germany and Poland. Delivery is scheduled to start in November 2019.

NJ TRANSIT is the largest statewide public transportation system in the United States and an established customer of Bombardier. Over the years, Bombardier has provided 100 electric and dual-power locomotives, hundreds of push-pull commuter coaches, and 429 Multilevel vehicles to NJ TRANSIT. In addition, Bombardier was a member of the consortium that designed and built NJ TRANSIT’s turnkey RiverLINE light rail system between Camden and Trenton, New Jersey and now operates and maintains the system under a contract with NJ TRANSIT.

About New Jersey Transit

NJ TRANSIT is the nation’s largest statewide public transportation system providing more than 944,000 weekday trips on 252 bus routes, three light rail lines, 12 commuter rail lines and through Access Link paratransit service. It is the third largest transit system in the country with 166 rail stations, 62 light rail stations and more than 19,000 bus stops linking major points in New Jersey, New York and Philadelphia.

About Bombardier Transportation

Bombardier Transportation is a global leader in rail technology and offers the broadest portfolio in the industry. It covers the full spectrum of rail solutions, ranging from trains to sub-systems and signalling. The company also provides complete transport systems, e-mobility technology and maintenance services. As an innovation driver, Bombardier Transportation continuously breaks new ground in sustainable mobility. It provides integrated solutions that create substantial benefits for operators, passengers and the environment. Headquartered in Berlin, Germany, Bombardier Transportation employs around 37,150 people and its products and services operate in over 60 countries.

About Bombardier

Bombardier is the world’s leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.

Bombardier is headquartered in Montréal, Canada and our shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2016, we posted revenues of $16.3 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors

To receive our press releases, please visit the RSS Feed section.

Bombardier and ALP are trademarks of Bombardier Inc. or its subsidiaries.

You can also contact one of our worldwide contacts for specific press inquiries.

Article source: http://www.otcmarkets.com/stock/BDRBF/news?id=179252

Bombardier Inc. (BDRBF: OTCQX International Premier) | Bombardier to Supply 17 Additional Locomotives to New Jersey

BERLIN, GERMANY–(Marketwired – Jan 2, 2018) –

Note to editors: To view the photo associated with this press release, please visit the following link: The BOMBARDIER ALP-45 Dual-Power Locomotive (Photo:Roman Porta)

Rail technology leader Bombardier Transportation announced today that New Jersey Transit Corporation (NJ TRANSIT) has exercised an option for 17 additional BOMBARDIER ALP-45 dual-power locomotives. This second call off is valued at approximately $160 million US (133 million euro) and is based on a contract for 26 locomotives signed in 2008. NJ TRANSIT exercised a first option for nine units in 2011 and the contract includes options for up to 37 more units.

“This option order is confirmation of the confidence NJ TRANSIT has in our highly innovative, energy efficient, reliable, and safe equipment,” said Benoit Brossoit, President, Americas Region, Bombardier Transportation. “The new locomotives will comply with the EPA’s Tier 4 Exhaust Limits, making them environmentally friendly which is especially important in a metropolitan area like New York.”

The dual-power locomotives are capable of operating under both diesel power and alternating current electric power from overhead sources. Their flexible power system enables the locomotives to operate across the entire NJ TRANSIT rail system, which includes both electrified and non-electrified lines, thus allowing passengers to ride a single train between New Jersey and New York Penn Station without having to change trains. Their introduction in 2011-2012 at NJ TRANSIT and the then Agence Métropolitaine de Transport in Montreal (now named Réseau de transport métropolitain) marked a first for this technology in North America.

The locomotives will be manufactured at Bombardier sites in Germany and Poland. Delivery is scheduled to start in November 2019.

NJ TRANSIT is the largest statewide public transportation system in the United States and an established customer of Bombardier. Over the years, Bombardier has provided 100 electric and dual-power locomotives, hundreds of push-pull commuter coaches, and 429 Multilevel vehicles to NJ TRANSIT. In addition, Bombardier was a member of the consortium that designed and built NJ TRANSIT’s turnkey RiverLINE light rail system between Camden and Trenton, New Jersey and now operates and maintains the system under a contract with NJ TRANSIT.

About New Jersey Transit

NJ TRANSIT is the nation’s largest statewide public transportation system providing more than 944,000 weekday trips on 252 bus routes, three light rail lines, 12 commuter rail lines and through Access Link paratransit service. It is the third largest transit system in the country with 166 rail stations, 62 light rail stations and more than 19,000 bus stops linking major points in New Jersey, New York and Philadelphia.

About Bombardier Transportation

Bombardier Transportation is a global leader in rail technology and offers the broadest portfolio in the industry. It covers the full spectrum of rail solutions, ranging from trains to sub-systems and signalling. The company also provides complete transport systems, e-mobility technology and maintenance services. As an innovation driver, Bombardier Transportation continuously breaks new ground in sustainable mobility. It provides integrated solutions that create substantial benefits for operators, passengers and the environment. Headquartered in Berlin, Germany, Bombardier Transportation employs around 37,150 people and its products and services operate in over 60 countries.

About Bombardier

Bombardier is the world’s leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.

Bombardier is headquartered in Montréal, Canada and our shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2016, we posted revenues of $16.3 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors

To receive our press releases, please visit the RSS Feed section.

Bombardier and ALP are trademarks of Bombardier Inc. or its subsidiaries.

You can also contact one of our worldwide contacts for specific press inquiries.

Article source: http://www.otcmarkets.com/stock/BDRBF/news?id=179252

Why now’s not the time for expensive tax cuts

President Trump and Republicans in Congress are on the verge of delivering a big tax cut for businesses. There’s just one catch: Neither the economy nor corporate America needs it.

For years, the United States recovered from the Great Recession at a frustratingly slow pace. After the initial stimulus package in 2009, Congress offered little help, and even stunted growth by cutting federal spending in 2013.

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Now the economy is finally healthy: Unemployment is at a 17-year low, growth is at a three-year high, and companies have never been more profitable. And Washington is providing stimulus anyway, adding to America’s mountain of debt.

“Passing the tax reform bill is like throwing a small cup of gasoline on a fire that’s already burning fairly well,” Dave Lafferty, chief market strategist at Natixis Investment Managers, wrote in a report on Wednesday.

By splurging on a $1.5 trillion package of tax cuts, Congress will probably have less ammo to fight the next downturn. That’s because the tax cuts will be paid for by borrowing more money.

“This tax cut makes us less equipped to deal with the next disaster, war or recession,” Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget, wrote in a statement on Wednesday.

Calling it the “wrong legislation at the wrong time,” MacGuineas warned the tax plan will provide just a fleeting bump to economic growth at the expense of making the already daunting fiscal situation even worse.

Related: What’s in the GOP’s final tax plan

Although Republicans argue that the tax overhaul will pay for itself with faster growth, independent analysts doubt that. Even accounting for projected growth, the legislation would still add about $1 trillion to deficits, according to the Joint Committee on Taxation.

Asked by CNNMoney about the fiscal impact of the tax plan, outgoing Federal Reserve chair Janet Yellen cautioned against “taking what is already a significant problem and making it worse.”

Of course, short-term-oriented Wall Street loves the tax plan. By cutting the corporate tax rate from 35% to 21%, the overhaul will boost already high profits and allow companies to reward shareholders with fatter dividends and bigger stock buybacks.

To be sure, almost everyone agrees that the outdated corporate tax code needs a makeover to close loopholes and help American businesses compete. Tax reform that doesn’t add to the deficit makes sense, regardless of the timing.

But some prominent voices in business are pushing back on the timing of deficit-financed stimulus.

Pointing to low unemployment and 3% economic growth, Goldman Sachs (GS) CEO Lloyd Blankfein recently told Bloomberg: “I don’t know that this is the moment that you provide the biggest stimulus.”

New York Fed President Bill Dudley said he’s not in favor of deficit-financed stimulus because “the economy doesn’t need it.”

Too much stimulation could cause both the economy and the stock market to overheat. That in turn could force the Fed to accelerate interest rate hikes, offsetting the benefits of tax cuts. Treasury rates have begun to jump, a sign that investors are anticipating greater government borrowing.

“Yes, it could blow out deficits and that could be a big problem. There is no question about it,” said Peter Boockvar, chief market analyst at The Lindsey Group.

Related: How much you’d pay under tax plan depends on a lot

Meanwhile, companies are doing just fine without tax cuts. Corporate profits are already at record highs, as are cash levels. Companies can afford to hire more people.

“We don’t need the money,” Michael Bloomberg, the billionaire former New York mayor and CEO of Bloomberg LP, wrote in an op-ed last week.

“It’s pure fantasy to think that the tax bill will lead to significantly higher wages and growth, as Republicans have promised,” he wrote.

Bloomberg slammed the tax overhaul as an “economically indefensible blunder that will harm our future” because it makes key challenges like rising deficits, growing wealth inequality and the skills crisis worse.

Trump defended the tax overhaul, tweeting on Wednesday that the “results will speak for themselves, starting very soon.” He added, “Jobs, Jobs, Jobs!”

The president is right that the jury is out. It’s possible that the tax overhaul will pay for itself by sparking stronger economic growth than economists expect. It wouldn’t be the first time economic forecasts were wrong.

Related: Will companies spend tax savings to create jobs?

And many executives are cheering. FedEx (FDX) CEO Fred Smith on Tuesday predicted the “pro-growth” tax plan will “power the economy” by making America more competitive.

But even if CEOs like the tax cuts, there’s no guarantee they will use them to create jobs. Even FedEx said it only “may” boost spending if the tax plan gets enacted.

Only 14% of CEOs surveyed by Yale University said their companies planned to make large, immediate capital investments in the United States if the tax plan became a reality.

One often forgotten obstacle: America faces a shortage of skilled workers — and the tax plan doesn’t fix that. This mismatch between the skills workers have and the talent companies need has driven job openings to record highs.

“My biggest fear is that we get this huge boom in business confidence but company hiring is stymied because we don’t have the workers,” said Joe Quinlan, a market strategist at Bank of America’s U.S. Trust division.

–CNNMoney’s Donna Borak contributed to this report.


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