HERMAN CAIN TO BE NOMINATED FOR FEDERAL RESERVE POST…….

Image Credit: Wikipedia.Org

By: Economic & Finance Report

President Trump is set to nominate Herman Cain for the US Federal Reserve Board of Governors.

Herman Cain was a former presidential candidate in 2012. He also served as chairman of the Kansas City Federal Reserve Board. His business background includes being the President/CEO of Godfather Pizza, CEO of National Restaurant Association, and being on boards such as Nabisco, Whirlpool, & Reader’s Digest.

Mr. Cain to be on the Fed Board, would have to pass an extensive background check and Senate confirmation process.-SB

AMAZON CEO (JEFF BEZOS) BECOMES RICHEST MAN IN THE WORLD FOR HALF A DAY….

By: Economic & Finance Report

On Thursday July 27, 2017, Amazon head honcho/founder and CEO, Mr. Jeff Bezos surpassed Microsoft founder Bill Gates, as the richest person in the world, he toppled Mr. Gates with an estimated net worth of $90 billion.

Later on Thursday July 27, 2017 Amazon stocks missed quarterly (Q2) estimates, Bezos net worth declined to $85.9 billion making him #2 richest person (After Bill Gates), thus allowing Bill Gates to reclaim his “richest person mantle” again.

Mr. Bezos and Amazon have had a productive year so far, having purchased Whole Foods, a middle eastern online retail giant Souq.com, and a host of other investments; such as the expansion of warehouses, streaming/content services, as well as marketing and promoting in house products such as the Echo Fire Stick. The Amazon brand remains a strong brand and even a more competitive household name. Successful contributions by an even more accomplished man.

-SB

BLACKBERRY MIXED EARNINGS REPORT BRING A DIP TO THE STOCK

 

Blackberry pics

BY: Economic and Finance Report

Blackberry shares dipped a bit on Friday  because of their mixed earning report for the end of the year quarter. Finishing down to $9.99. There seems that there is still a lot more work to be done as Blackberry is restructuring the company.

The company did below what analysts had predicted of $1 billion dollars in revenue. Blackberry reported losing ¬†$148 in revenue in the 3 quarter. Blackberry executives expect the company to continue with either “break-even” or a little better route in their cash flow for 2015, but the Chairman/CEO John Chen expects Blackberry to hit profitability in the beginning of 2016.

-SB