Amazines Free Article Archive
www.amazines.com - Tuesday, February 25, 2020
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133332)
 Advice (161024)
 Affiliate Programs (34736)
 Art and Culture (73706)
 Automotive (145686)
 Blogs (75077)
 Boating (9841)
 Books (17219)
 Buddhism (4125)
 Business (1328759)
 Business News (426329)
 Business Opportunities (366276)
 Camping (10962)
 Career (72740)
 Christianity (15846)
 Collecting (11637)
 Communication (115053)
 Computers (241957)
 Construction (39000)
 Consumer (49681)
 Cooking (17062)
 Copywriting (6568)
 Crafts (18205)
 Cuisine (7539)
 Current Affairs (20394)
 Dating (45784)
 EBooks (19687)
 E-Commerce (48206)
 Education (185274)
 Electronics (83503)
 Email (6395)
 Entertainment (159848)
 Environment (28940)
 Ezine (3039)
 Ezine Publishing (5447)
 Ezine Sites (1550)
 Family & Parenting (110907)
 Fashion & Cosmetics (196392)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310309)
 Fitness (106248)
 Food & Beverages (62881)
 Free Web Resources (7938)
 Gambling (30230)
 Gardening (25116)
 Government (10515)
 Health (629706)
 Hinduism (2205)
 Hobbies (44048)
 Home Business (91562)
 Home Improvement (251378)
 Home Repair (46150)
 Humor (4826)
 Import - Export (5453)
 Insurance (45138)
 Interior Design (29564)
 International Property (3485)
 Internet (190991)
 Internet Marketing (146349)
 Investment (22827)
 Islam (1167)
 Judaism (1356)
 Law (80541)
 Link Popularity (4593)
 Manufacturing (20842)
 Marketing (98796)
 MLM (14136)
 Motivation (18213)
 Music (27006)
 New to the Internet (9480)
 Non-Profit Organizations (4048)
 Online Shopping (129617)
 Organizing (7803)
 Party Ideas (11856)
 Pets (38078)
 Poetry (2234)
 Press Release (12676)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126634)
 Recreation & Leisure (95301)
 Relationships (87564)
 Research (16160)
 Sales (80325)
 Science & Technology (110228)
 Search Engines (23466)
 Self Improvement (153103)
 Seniors (6233)
 Sexuality (35943)
 Small Business (49288)
 Software (82996)
 Spiritual (23468)
 Sports (116095)
 Tax (7658)
 Telecommuting (34068)
 Travel & Tourism (307567)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11730)
 Website Design (56833)
 Website Promotion (36575)
 World News (1000+)
 Writing (35777)
Author Spotlight
ANISH SAH

My Name is Anish Sah, I am an Internet Marketing and SEO Expert, Social Media Guru and young Entrepr...more
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
MANMOHAN SINGH

Digital marketing professional with 8 years of experience. A good listner, Stratgist and fun loving ...more
DELORES KEEPER

Delores Keeper has been playing chess for over 50 years. Some tournaments, some teams (when she was ...more
ELLIOT CHANG

Financial analyst and author writing on economy and business. ...more


On wall street, few places to hide as jobs axe hovers - Plastic Auxiliary Equipment Manufacturer by dedwf wefweg





Article Author Biography
On wall street, few places to hide as jobs axe hovers - Plastic Auxiliary Equipment Manufacturer by
Article Posted: 12/22/2013
Article Views: 128
Articles Written: 1942
Word Count: 989
Article Votes: 0
AddThis Social Bookmark Button

On wall street, few places to hide as jobs axe hovers - Plastic Auxiliary Equipment Manufacturer


 
Business,Business News,Business Opportunities
The share prices of the big American banks, which are mostlytrading below book value, tell the tale. And bank earnings for thesecond quarter, most of them to be reported next month, areexpected to underscore the gloom. Many on Wall Street say pinkslips are likely to follow. "If things don"t get better, then I would expectstaffing levels to come down for sure," said Alan Johnson,chief executive of Wall Street compensation consulting firm JohnsonAssociates, who estimated that banks may cut another 5 per cent oftheir workforce by year"s end. "When banks do that reassessment, it will go beyond just theshort-term economics.

They"ll be asking, ‘Where is theglobal economy going? And is there going to be a recovery, or moreof a struggle than a recovery?"" Johnson"s estimate of 5 per cent cuts would translate toabout 40,000 layoffs in the United States, based on LaborDepartment data showing Wall Street employment at around 800,000.Though no formal announcements have been made, signs are appearingthat a culling has begun. Goldman Sachs Group Inc let go several dozen employees in itssecurities division this week, including some managing directors,in response to weak market conditions, a source familiar with thematter said. Fewer than 50 people were cut across the globe, thesource said. Morgan Stanley is likely to lay off a "modest" numberof employees in its investment banking and trading divisions,another source said. That source said exact numbers had not yetbeen determined but that most of the cuts would occur ininternational divisions.

Both sources spoke on condition of anonymity. Goldman and MorganStanley declined to comment on the matter. As Europe lurches from one crisis to the next - on Tuesday, Spainsaid that it is shut out of credit markets - and economic growthslows in the United States, the banking business has become tough.Major developing economies such as Brazil, China and India havealso been slowing, providing little relief. Trading volumes are low and merger activity has fallen, while lowinterest rates are translating into lower profits on lending. JPMorgan analyst Kian Abouhossein predicts a 32 per cent decline inglobal banks" trading revenue from fixed income, currency andcommodities during the second quarter, along with a 14 per centdrop from equities trading and a 17 per cent drop from investmentbanking.

So far this year, the global mergers and acquisitions market hasfallen 26 per cent from the same period in 2011, according toThomson Reuters data. Similarly, year-to-date global equityissuance is down 31 per cent and debt issuance has dropped 9 percent. The IPO market is in no better shape. Well-publicised difficultieswith Facebook Inc"s $16 billion mega-IPO on May 18 have onlyfurther damped interest in bringing IPOs to market, as has therecent slide in stock markets globally. A series of IPOs have beenpulled or delayed in Asia in the past two weeks.

Proceeds from initial public offerings are down 45 per centyear-to-date to $52.9 billion from a year ago. And that is afterthe Facebook IPO, one of the biggest ever in the United States. JMP Securities analyst David Trone, who downgraded Goldman, MorganStanley, JPMorgan Chase, Bank of America and Citigroup to"underperform" and cut estimates on May 21, said thebanking sector offers no place to hide these days. "It"s just the perfect storm: You"ve got zerorates which are unheard of, squashing net interest margins likenever before in history; the greatest regulation ever limitingfees, raising costs, demanding more capital; and then you"vegot a brewing economic disaster in Europe," said Trone.

"They"re getting hit on all fronts, really.There"s literally not one thing to be happy about." He said he expects further job cuts in the "singledigit" per cent range by year-end. Looking at profit per employee in the past few years will providelittle comfort to bankers. For example, six years ago, Goldman earned more than twice as muchmoney as it did in 2011, on lower revenue, and its return on equitywas six times as high. Goldman was able to generate those returnswith 11,000 fewer employees. "Many investors remind us that our 2011 revenues were moreconsistent with revenues that were generated six years ago, but ourheadcount is higher and our profitability is lower," ChiefFinancial Officer David Viniar said at an event in February."That is factually correct." Viniar said Goldman needs those additional employees for itsexpanded footprint around the world and its bigger client base.

Yetcompensation is the single biggest line-item cost for banks, apartfrom interest expense, and for that reason job cuts are thequickest and easiest way for Goldman and its competitors to boostprofits when times are tough. Skepticism about returns and valuations has been priced into biggerbank stocks for some time, with market values far below the statedvalue of assets on banks" balance sheets. Bank of America"s closing share price of $7.02 on Fridayrepresented just 35 per cent of stated book value of $19.83 pershare as of March 31. Citigroup and Morgan Stanley on Friday both closed at 41 per centof book value.

JPMorgan closed at 67 per cent of book value, whileGoldman closed at 69 per cent of that number. Of the six largest USbanks, Wells Fargo was the only one trading at a premium to bookvalue, being 19 per cent above it at $30.16. Frank Braddock, a financial adviser at JHS Capital Advisors, whichmanages $3 billion of investor assets, is warning his clientsagainst purchasing bank stocks even with that apparent discount. "At the end of the day they have got to generate earningsfrom loans and sales, and that"s just not happening,"said Braddock.

"For our clients, the risk in bank stocks isjust too big right now. Yeah they"re going to have to cutjobs, but how much can they afford to cut and how is that reallygoing to help their profitability long-term? They can"t cuttheir way to revenue growth.".

I am an expert from plasticextrusion-line.com, while we provides the quality product, such as Plastic Auxiliary Equipment Manufacturer , China Plastic Extrusion Line, Wood Plastic Extrusion Line,and more.

Related Articles - Plastic Auxiliary Equipment Manufacturer, China Plastic Extrusion Line,

Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
LANCE CHAPMAN

An experienced, resourceful and highly motivated IT professional, with a proven record of success in...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2020, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license