Personal finance lessons from the Detroit bankruptcy

Weak Earnings Growth Outside Finance

The city is holding $11.5 billion in unsecured debt, the repayment of which has the city in such a deep financial hole that they cant keep up with the basic maintenance of the facilities they already have. Trent Hamm The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two. Our busy lives are crazy enough without having to compare five hundred mutual funds we just want simple ways to manage our finances and save a little money. Recent posts The Christian Science Monitor Weekly Digital Edition For those of us who have reached a financial low point in our lives, this sounds pretty familiar. I never reached a point where I had to file bankruptcy, but I did reach a point where I had bills on the table and not enough money to pay them.

Debt, shadow finance bedevil China’s economy

The term refers to loans and investment products sometimes issued by legitimate banks and financial institutions, as well as private deals between individuals or companies, that have arisen as a way of getting around strict banking rules. Such a non-transparent, less regulated form of credit extension can stoke asset bubbles and may pose risks to financial stability, as highlighted in recent years, Moodys said, referring to US and European banks sub-prime lending woes that triggered the 2007-2009 global financial crisis. China began taking steps to free up its lumbering, Soviet-style command economy in the late 1970s. Decades of stunning growth, rising trade and foreign investment resulted, pulling some half a billion people out of poverty. But the economic and financial system is still run by the same secretive and elite Communist Party, and in many ways remains remarkably closed to the outside world given Chinas size and influence as the globes second-largest economy.

Key Points Total earnings for the 240 S&P 500 companies that have reported results are up +4.1%, with 65.8% beating earnings expectations. Revenues for these companies are up +3.8%, with a revenue beat ratio of 45.4%. The earnings growth rate is better than what this same group of companies reported in recent quarters, the revenue growth rate is about in-line with recent history, while the beat ratio, particularly on the earnings side, is a bit weaker. Finance results have been very strong, with total earnings for the companies that have reported results up an impressive +31.9%. Excluding Finance, total earnings for the remainder of S&P 500 companies that have reported would be down -2.8% from the year-earlier period.

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

Here’s what we can learn from her and a few other noteworthy finance professionals: Follow Your Passion Passion is the secret ingredient to your success as a finance professional, and it’s your job to ensure it intertwines with every part of your professional life including your job search, daily on-the-job responsibilities, and professional development. It all starts with finding a job that you enjoy doing. You can love finance as a whole, but without the right position your passion will wither quickly. “Understand what the job entails, find a job match that you’re going to enjoy, because any of these jobs–particularly those at Goldman Sachs or Wall Street–require a lot,” Hunt said. “They’re demanding roles…So it better be something you like, because if you like it, you have a chance at being good at it.” Being in a position you love allows you to provide an engaged and refreshing perspective in the workplace.

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