Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (27355)	4/12/2005 1:33:05 PM
From: mishedlo	Respond to of 116555

Bernanke Favorite for Greenspan Successor Reuters - Sun Apr 10, 2005 - By Caren Bohan and Tim Ahmann reuters.com WASHINGTON (Reuters) - Federal Reserve Governor Ben Bernanke has the edge in the latest betting over who will succeed Alan Greenspan as Federal Reserve chief, but sources close to the Bush administration say it is still early in the decision process. President Bush's decision earlier this month to nominate Bernanke to head the White House Council of Economic Advisers prompted speculation that the top White House economics job may be an audition for Greenspan's post. "Bernanke is a strong Washington player with good insights," said William Beach, a scholar at the Heritage Foundation, a conservative think tank in Washington. "He's a nose ahead on this." Scott Reed, a Republican political consultant, called Bernanke "the favorite of the month." Many on Wall Street agree. A recent Lehman Brothers poll put him at the front of the pack, even before he was named to the top job at the Council of Economic Advisers. Bernanke, along with Glenn Hubbard, a former CEA chairman, and Harvard economist Martin Feldstein have long been seen as the front-runners to replace the 79-year-old Greenspan, who must leave early next year when his Fed board term expires. Bernanke associates say the Princeton University economist's interest in the council has more to do with wanting to try his hand at broad policy-making than with jockeying for the top Fed post. Some analysts said the tight timing might be tricky for Bernanke, who still faces Senate confirmation for the CEA post and who will have logged less than a year in that job when Greenspan's position comes open. WALL STREET'S RESPECT A FACTOR Two sources with close administration ties played down the idea that any one candidate led the field, noting that the decision-making process appeared to be in the early stages. Both said all three of the most cited candidates -- Bernanke, Feldstein, and Hubbard -- have a good shot. One, a former administration official who spoke on condition of anonymity, said the White House could still turn to a prominent Wall Street figure, though it was likely to pick someone already in the mix. "It's not like you're going to need to find some dark horse out of left field," said the source, who added that the decision-making will be a closely guarded process involving senior players like White House chief of staff Andrew Card and Vice President Dick Cheney. Greenspan also is sure to wield influence. Bush faces the more immediate task of replacing Bernanke at the Fed. Several Republicans said Richard Clarida, a Columbia University economist and former U.S. Treasury official, fit the profile the administration is seeking and one source said he is indeed being considered. If Bernanke wins Senate approval for the White House Council of Economic Advisers, he will join the other top contenders, along with Greenspan, in having CEA experience. Greenspan was CEA chairman under President Gerald Ford. Feldstein led Ronald Reagan's CEA and Hubbard headed it for the first two years of the Bush administration. Bernanke, one of the country's leading monetary policy economists, has become well-regarded on Wall Street since joining the Federal Reserve Board in 2002. He also has developed a rapport with Greenspan, despite his long-standing advocacy for inflation targeting, a publicly stated inflation goal by a central bank, at the Fed -- a move Greenspan has opposed. The Heritage Foundation's Beach said Bernanke possesses one credential crucial for any Greenspan replacement: The ability to translate econo-speak into plain language. "Bush is going to want to appoint someone who can sit down with him and speak in a language he understands," Beach said. Of the three candidates most mentioned, Hubbard -- a public finance expert at Columbia University -- has the closest White House ties from his years in the administration and his stint advising Bush's 2000 presidential campaign. Feldstein, who also was an adviser to the 2000 Bush campaign, is said to visit Washington frequently. "He's pretty well-connected," said the former U.S. official, who pointed out that Feldstein would bring strong managerial experience to the Fed from his long tenure as head of the National Bureau of Economic Research. One question mark, though, is Feldstein's role as a director of American International Group Inc.(AIG.N: Quote, Profile, Research) , an insurer whose accounting practices are under investigation by the U.S. Securities and Exchange Commission and New York Attorney General Eliot Spitzer.

To: Chispas who wrote (27355)	4/12/2005 1:37:22 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Report: Lower vacancies lift rents Study finds slight decrease in 1Q apartment vacancy rate, higher rents in large markets. April 11, 2005: 7:39 AM EDT NEW YORK (CNN/Money) - Apartment vacancies nationwide are falling and rents are rising, according to a published report Monday. The Wall Street Journal reported that the vacancy rate for the top 64 metropolitan apartment markets in the U.S. edged down to an average of 6.6 percent in the first quarter, from 6.7 percent in the fourth quarter. The vacancy rate was at 7.1 percent in the year-earlier period. The rates were compiled by Reis Inc., a New York-based real-estate research firm. The firm also found effective rents, the rents that landlords actually collect as opposed to what they ask for, rose an average of 0.6 percent to $882 a month in the first quarter, after rising 0.3 percent in the fourth quarter and remaining flat in the year-earlier quarter. Reis CEO Lloyd Lynford told the paper that while the drop in vacancy rates seems small, it's an important change given that vacancy rates rose in the first quarter of the past few years. Rents and rental rates have been hurt by low mortgage rates, which allowed some potential renters to be home or condo buyers instead. An improvement in rents can also become good news for homeowners. Economists have said that rents are a useful barometer for tracking the strength of housing markets. If the cost of owning starts to dramatically outstrip the cost of renting a piece of real estate, it can become a sign that speculation has driven up home prices above what is justified by fundamentals. money.cnn.com

To: Chispas who wrote (27355)	4/12/2005 1:40:53 PM
From: mishedlo	Read Replies (2) \| Respond to of 116555

SUZETTE HACKNEY: Some home sellers place faith in buried statues of St. Joseph Some say it's better to put icon upside down April 8, 2005 BY SUZETTE HACKNEY FREE PRESS REAL ESTATE WRITER There's no question that people often turn to religion when faced with challenges, and for many this spring, the challenge may be selling their homes. Home sales are sluggish, and supply is outpacing demand in nearly every segment of the market. But the weather has finally broken and the spring home buying season is under way. And for those who believe, there may be extra help. One quick Internet search will yield dozen of results: For the low, low price of $7.45 or $9.95 or $11.95 or $19.95, a statue of St. Joseph can be yours, complete with a prayer card or book and instructions on how burying the statue will help you sell your home faster. The tradition of burying St. Joseph memorabilia to assist in the sale or acquisition of property dates back to the Middle Ages. St. Joseph, Mary's husband, is traditionally portrayed as a home builder and carpenter. He is the Roman Catholic Church's patron saint of the family and household needs. So is his ability to help unload homes urban legend? Folklore? Superstition? No, says Debbie Ptak, an employee at G.A. Fuch's religious supply store at 32525 Stephenson Highway in Madison Heights (248-589-0200). She said real estate agents frequent her store to buy the statues for their clients. And they've never returned to complain that the St. Joseph statue hasn't worked its magic. "We've been selling them constantly, though we tend to sell more in the spring and summer," Ptak, 52, said. "You just have to ask and you shall receive. God does work miracles through his saints." Most commonly, the statue is covered in a protective cloth and buried upside down in the yard of a home for sale. Some kits suggest that the statue be buried near a For Sale sign. Some companies also recommend you dig the statue up after the sale and give it a place of honor in your new home. As we watch Pope John Paul II's regal journey to his final resting place today, we can't help but reflect on individual beliefs. "I would say St. Joseph is for everybody," Ptak said. "The main thing is to have faith and trust that he can help you -- help you even sell your home." Another kind of help For those who are seeking more conventional ways to sell a home, a new staging company has arrived in metro Detroit. Impact! Interior Design Solutions, based in Royal Oak, offers professional staging consultations and project management for agents and home owners. Other services include a one-day redesign, and living space organization and downsizing. For more information, call 248-761-3320 or go to www.impactids.com. Have a house question or real estate story idea? Contact SUZETTE HACKNEY at 313-222-6614 or hackney@freepress.com. freep.com