Keep your eyes on insiders

Investors hurt by the sharp slide in home-builder stocks might now wish they'd kept a closer eye on what industry executives were doing with their own holdings.
CEOs of three of the top eight U.S. home builders sold large amounts of stock last year and avoided some of the financial pain since the shares peaked, a review of regulatory filings for USA TODAY by Thomson Financial shows.

Such insider selling, even as the stocks were hitting highs and home builders were pumping out homes, underscores how executives are often the first to react to swift business changes, says Mark LoPresti of Thomson.

Executives often have much of their wealth tied up in their companies and are closely aware of shifts in their industry. They're acquainted not only with their business' health and outlook but also have an acute understanding of the value of their company's shares.

So concentrated selling, or buying, by insiders can be a cue for individual investors. "We don't know for sure what's in the hearts of insiders," LoPresti says. But in his opinion, "It was extreme activity."

Full text on USA 2day

Income tax cuts benefit all payers

Americans of every income have benefited from a drop in federal income tax rates as Bush administration tax cuts enacted since 2000 took effect, an independent analysis of newly released IRS data shows.
But those earning $75,000 to $500,000 are shouldering a larger share of total taxes paid as millions more of them earn higher incomes and get hit with the Alternative Minimum Tax, the analysis also found.

The review by the Tax Foundation, a non-partisan research group that favors low taxes, provides one of the first detailed looks at the impact of federal tax changes phased in between 2000 and 2004.

Alluding to the political debate that often surrounds tax issues, Gerald Prante, a Tax Foundation economist, said, "It is true that in dollar amounts the rich have gained the most. But everybody's tax rates have fallen."

Full article

William Hill ends U.S. gaming on legal issues

LONDON (Reuters) - Bookmaker William Hill said on Wednesday it had stopped its gaming business in the United States, pending clarification of the scope and enforceability of state and federal gaming laws.

William Hill said it had taken steps to stop accepting casino and poker business from clients with a U.S. address or U.S.-issued credit card, the same as steps already in place to prevent Internet betting on sports events by U.S. residents.

This year has seen the arrests in the United States of Sportingbet's chairman on charges of "gambling by computer" and BETonSPORTS's then chief executive on racketeering charges.
Full article from Reuters

Inequality in wealth distribution: the causes

The principal causes of rising inequality, in America and much of the rest of the world, are rapid technological innovation and globalisation. These structural shifts, which have spawned enormous prosperity, are boosting the earnings of the most skilled and well-educated far faster than the rest.

Forbes 400 ricchest Americans

For the first time wealth of each participant in the list is at least 1 000 000 000 US dollars

US dollar dips on dovish Fed statement

US dollar drifts against all major currencies after Federal Open Market Committee meeting. As was expected by the experts, the Fed kept US interest rates on hold at 5.25 per cent.
FT.com on Yahoo! Finance

74th United States Secretary of the Treasury

Henry "Hank" Merritt Paulson, Jr., 74th United States Secretary of the Treasury official bio

Chatting With China

China has long wanted to move discussions with the U.S. over the broad range of contentious trade and economic issues the U.S. has with it beyond the broad range of contentious trade and economic issues the U.S. has with it.
Full article from Forbes.com

Wal-Mart:Quantity of Employees

Wal Mart is the biggest employer in the US, currently employing about 1.3 million workers, according to Forbes.com

Where the wealth is?

The level of gross foreign claims on U.S. assets is approaching $14 trillion, about 25 percent of U.S. wealth and perhaps 10 percent of global wealth. Eventually, foreign investors would become reluctant to own, say, the bulk of U.S. assets or to have the majority of their wealth holdings invested in one country. However, we are far from such limits for two reasons.
Followign that logic, the USA is home for the 40% of global wealth.
Source - America's External Balances Economic outlook
'America, America, God shed his grace on thee,
And crown thy good with brotherhood,
From sea to shining sea...'