EDAC Technologies Reports Fiscal 2009 Fourth Quarter and Full Year Results

EDAC Technologies Corporation (Nasdaq:EDAC), a diversified designer, manufacturer and servicer of precision components for aerospace and industrial applications, today reported sales for the fourth quarter of fiscal 2009 of $16.3 million, up from $12.1 million for the same period of 2008 and $15.1 million in the 2009 third quarter.

Iraqi Banking System Needs Overhaul

BAGHDAD: Decades of dictatorship, war, international sanctions, and isolation from the outside world have left Iraq’s banking sector in such a poor state that people do not believe such things as cash machines or a “smart card” exist, a senior banking official says.
Rafidain Bank Director Abdul-Hussayn al-Yasiri told RFE/RL’s Radio Free Iraq that if the [...]

Bernanke Backs More Stimulus, Citing `Weak’ Outlook

It seems another stimulus package is in the works. I am not sure if it would help the markets and we still have to see if the bailout package passed by the congress earlier has any effect on the economy.

McCain Offers Economic Plan

BLUE BELL, Pa. — Sen. John McCain today proposed $52 billion worth of tax breaks aimed at reducing the impact of stock market losses on the nation’s seniors, providing relief to the unemployed and encouraging savings.
Under his plan, unveiled as he campaigned in a suburb of Philadelphia, seniors would pay lower taxes when they tap [...]

Managing your debt and credit

I cam across a fantastic guide on how manage your debt, credit and make decisions to accomplish important financial goals.
The guide goes through 6 key subject topics, such as:

Managing Debt and Credit,
installment debt,
revolving line of credit,
intelligent use of your credit,
how to get rid of credit card debt and
what is the role of your debt

Read the [...]

Stocks mostly advance on government bank plan

Markets worldwide are reacting positively to a plan proposed to buy stocks in banks troubled by the financial crisis. It would be interesting to see the long term effects of this government involvement in the private sector.

Europe puts more on the line for banks than US

Europe puts $2.3 trillion, far more than US, on the line for banks and stocks soar
PARIS (AP) — Europe put $2.3 trillion on the line Monday to protect the continent’s banks, a figure that dwarfs the Bush administration’s $700 billion rescue program, in its most unified response yet to the global financial crisis after a [...]

Bush to announce expanded bank bailout details

Bush administration plans to spend $250B of $700B bailout plan buying stock in private banks
WASHINGTON (AP) — The Bush administration plans to spend an initial $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out of deep concern for the faltering economy, industry and [...]

What will the Candidates do with your money?

Even with the approval of the $700B bailout package for the US markets, the financial system is still not out of the woods. This package will shape every decision that future president makes with US economy as a whole and how it would change the way we manage our money and what we do with [...]