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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: tool dude who wrote (128794)	2/20/2004 11:14:16 PM
From: M0NEYMADE	Read Replies (1) \| Respond to of 150070

GREENSPAN SAYS AMERICANS SCREW YOURSELF...(LITERALLY) Reuters Fed Officials Say Jobs on Way Eventually (ROFL) Friday February 20, 6:06 pm ET By Glenn Somerville WASHINGTON (Reuters) - A chorus of Federal Reserve officials tried on Friday to reassure Americans that new jobs will emerge to replace the millions of jobs lost in recent years, but warned workers must add skills to stay competitive. ADVERTISEMENT "There is a palpable unease that businesses and jobs are being drained from the United States, with potentially adverse consequences for unemployment and the standard of living of the average American," Fed Chairman Alan Greenspan told a Chamber of Commerce group in Omaha, Nebraska. So-called "outsourcing" of jobs by U.S. corporations aiming to pad profits by shipping work to cheap-labor centers in China and India has struck a nerve with Americans and has emerged as an issue in November presidential elections. Greenspan acknowledged it was an "important and sensitive" issue and it has opened a gulf between those hurt by the phenomenon and economists who back the benefits of free trade. "It is crucial that this gulf be bridged," he added. Greenspan said he was confident that new jobs will replace those lost and said a pickup in hiring prospects lay ahead. "We have seen encouraging signs of late that the labor market is improving," Greenspan said. "In all likelihood, employment will begin to increase more quickly before long as output continues to expand." DIFFERENCE IN PERCEPTION Other Fed officials weighed in similarly -- but in terms that underlined the differences between their academic assessment and the raw feeling that many displaced workers feel about seeing jobs disappear. Speaking to a management conference in St. Louis, the president of the St. Louis Federal Reserve Bank, William Poole, said a strengthening economy will bring more jobs. If U.S. economic expansion is 4 to 5 percent this year as expected, there will be "significant increases" in employment, he said. "Since employment gains of roughly 125,000 per month are necessary to keep up with the 1 percent annual rate of growth in the labor force, the projected employment growth in excess of that means that we should expect some decline in the unemployment rate by the end of the year from its current 5.6 percent rate," Poole added. Greenspan said trade protectionism was not the answer to ensuring American jobs and instead recommended "rigorous education and ongoing training" to make sure the skills needed for jobs remained sharp. CAN'T FENCE IN JOBS "Protectionism will do little to create jobs; and if foreigners retaliate, we will surely lose jobs," Greenspan said, adding it was preferable to boost American workers' skills so that they can compete in the global marketplace. Fed Governor Ben Bernanke, speaking to reporters after addressing an economics group, declined to be drawn into a debate on whether a controversial White House forecast for 2.6 million jobs this year was realistic. He said it depended upon when corporations decided they have "exhausted productivity gains," meaning they could no longer squeeze more output from their existing work forces. "So I express the view that hiring will strengthen significantly this year, but I wouldn't want to put a number on it," Bernanke said. In the long run, Greenspan said, part of the answer was that workers must ensure they have the skills to move ahead and to reduce the imbalances in the supply between those who have the skills and those who do not. "Those imbalances have the potential to hamper the adjustment flexibility of our economy overall," Greenspan cautioned. "The single central action necessary to ameliorate these imbalances and their accompanying consequences for income inequality is to boost the skills, and thus earning potential, of those workers lower on the skill ladder." biz.yahoo.com

To: tool dude who wrote (128794)	2/21/2004 8:45:30 AM
From: StocksDATsoar	Respond to of 150070

One Big Winner in Record Mega Millions Lottery $230 Million Ticket Sold in Virginia By BERNARD McGHEE, AP ATLANTA (Feb. 21) - One person captured the $230 million Mega Millions jackpot, becoming the biggest winner in the lottery's history. AP Lottery player buys ticket at New York's Times Square. The lucky ticket, purchased in Stephens City, Va., matched all five lotto numbers and the Mega Ball number to win the 11-state jackpot. Lottery officials waited early Saturday for the winner to come forward. The numbers drawn Friday night were: 1-13-20-21-30, and the Mega Ball was 24. There were 56 second-place winners, matching all five lotto numbers but not the Mega Ball to win $175,000 each. And 209 people matched four lotto numbers, plus the Mega Ball number, for a payout of $5,000 each. The record jackpot led to higher ticket sales, despite the bleak odds of winning Friday - one in 135,145,920, according to the Mega Millions Web site. ''It's a chance to get something you don't have,'' said Minnie Young, 65, of Dayton, Ohio, who bought five tickets. ''Somebody's got to win. Why not me? I've got four sisters. I could give them the money too.'' In Ohio, 12,722 tickets were being sold each minute, said Mardele Cohen, spokeswoman for the Ohio Lottery. Did You Win? · Check Your Lottery Numbers In Georgia, more than $1 million in Mega Millions tickets were sold Friday before noon, said J.B. Landroche, spokesman for the Georgia Lottery. The record drawing was moved from Atlanta to New York City's Times Square. States participating in the game are Georgia, Virginia, Illinois, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Texas and Washington. AP-NY-02-21-04 0537EST Copyright 2004 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.