Weekly Market Review: October 28, 2019

first_imgStock market investors are voting with their dollars and apparently, they believe a U.S.-China trade deal is more likely than not. The S&P 500 rallied to close at 3023 last Friday (10/25/19), within 0.1% of its all-time closing high set three months ago on 7/26/19. The venerable stock index is up +22.5% YTD (total return) (source: BTN Research).The U.S. government is like any other organization – if the news isn’t all that flattering, release it to the public late on a Friday afternoon. They did exactly that on Friday 8/05/11 when S&P downgraded the U.S. from a top credit rating that America had held for 70 years. And they did it again last Friday 10/25/19 when the Treasury Department released at 2 p.m. ET the final deficit number for our government for fiscal year 2019 (the 12 months ending 9/30/19), a stunning $984 billion (source: Treasury Department).Operating in the red isn’t uncommon for Uncle Sam – 54 of the last 59 fiscal years, i.e., 1961-2019, have resulted in an operating deficit. The only surplus years were 1969, 1998, 1999, 2000 and 2001. To change this pattern, the United States must either raise taxes (unpopular) or reduce spending (also unpopular). Our spending is however concentrated: 62% of the $4.45 trillion of total 2019 outlays went to just four categories – Social Security ($1.044 trillion), National Defense ($688 billion), Medicare ($651 billion) and Net Interest Expense ($376 billion) (source: Treasury Department).Notable Numbers for the Week:LIVE WITHIN YOUR MEANS – 41% of American households make less than $50,000 of adjusted gross income (AGI) per year. Only 8% of American households make at least $200,000 of AGI (source: Census Bureau).UNAFFORDABLE FOR MANY – The median home price in June 2019 in San Francisco ($1,466,900) was more than five times the median home price in Phoenix ($280,000), i.e., by moving 754 miles southeast from the northern California coast to the Arizona desert, the median home price drops by 81% (source: Redfin).NO WORK – 37% of American seniors report they retired earlier than planned as a result of health problems, buyout packages, layoffs, grandchildren, or caring for an aging parent (source: Health and Retirement Study).ROTTEN KIDS – A study involving 2,500 wealthy families over decades of wealth transfers across generations found that, on average, only 30% of the original family fortune remained at the end of the second generation, and only 10% remained at the end of the third generation (source: Williams Group).last_img read more

EMC World Monday Keynote – Live Blog

first_img9:58 am PTOne thing that everyone at the show is excited to learn is how EMC is “Redefining” itself. Wordplay aside, the old slogan about EMC as “where information lives,” may be soon be about “where innovation lives… and breathes.”10:10 am PTThe news from EMC World has just been released! Take a look at the EMC releases on ViPR software-defined storage and hybrid cloud innovations:New ViPR Software-Defined Storage Brings Cloud-Scale Capabilities and Economics to the MassesEMC Elastic Cloud Storage Appliance Up To 28% Lower TCO Than Public Cloud; Brings Hyperscale Cloud Ease-of-Use, Agility and Cost Benefits to EveryoneEMC Rolls Out Breakthrough Hybrid Cloud Innovations at EMC World 2014 11:15 am PTWith ViPR 2.0, EMC is also announcing the geographic replication and distribution – which can automatically serve as a truly global cloud solution. This will be part of the larger software-define storage story from EMC.11:22 am PTGoulden also announces the Dell EMC Elastic Cloud Storage (ECS) appliance, stating three things to remember:CompleteCloud scale – exabyte scaleAny data center – enterprise or service providersThis is important because EMC is taking the appliance motif and extending it to a variety of storage configurations. 10:20 am PTJonathan Martin, Chief Marketing Officer of EMC, just walked on stage with a guitar and pumped up the crowd! What a great start to the show! 10:26 am PT Joe Tucci, CEO of EMC, takes the stage with some traditional mariachi band.Tucci starts off his presentation discussing how the industry is changing, how companies are changing to meet the new industry needs.He states that IDC’s recent study discusses that there will be a need for 8 million more IT professionals in he industry, but they’re going to need to do more with less. In fact 5x times more.10:42 am PTEMC is redefining themselves to be more relevant to customers and more relevant for the third platform of IT – mobile, cloud, social, and big data. In fact, EMC just announced its acquisition of DSSD. Andy Bechtolsheim is welcomed on stage to discuss the new technology, which is meant to accelerate deployments with Hadoop and SAP HANA.10:49 am PT 11:02 am PTEMC puts a million dollars in an EMC XtremIO machine!11:12 am PTGoulden announces that ViPR 2.0 has been announced and will ship this quarter. He also notes that Scale IO is showing that EMC is committed to support for VMware, OpenStack and Microsoft. 10:50 am PTThe third platform is redefining business in every sector and every industry – its the applications you can build that is redefining what is happening – David GouldenGoulden says we’re seeing applications redefining many industries. You can see it in Uber, Tesla and Nest. But the new application wave will also redefine storage. However, customers shouldn’t ignore the second platform. They need to invest in the third platform through these new applications, but they also need to support their second platform.10:55 am PTGoulden states that EMC has close to half of the entire market for reference architectures and converged infrastructures – thanks to VCE Vblock Systems!center_img  11:25 am PTGoulden concludes by stating that most IT spending in 2014 is on prem, in fact EMC cites $2 trillion, but 25% of spending is off-prem. So EMC thinks that the cloud will be hybrid. EMC is dedicated to standing up a hybrid cloud in days vs month or weeks. In fact, two days. EMC is announcing a hybrid cloud solution with EMC and VMware technologies. For example, this can accelerate the natural extension of any private cloud infrastructure built on a Vblock System to become a hybrid cloud environment in just two days.Stay tuned for a later blog on our participation in Build a Hybrid Cloud Live! Today marks the beginning of EMC World in Las Vegas. With the booth complete, speaking sessions prepped and meetings lined up, VCE is ready for an exciting event. I’ll be live blogging the general session keynote today, providing news, pictures and analysis on the presentations and tweets throughout the web. 9:48 am PT 10:58 am PTNow Goulden is reviewing the strength of EMC’s flash array – EMC’s dominance in flash is evident and it’s clear from the keynote that the lead will only extend.  9:52 am PTJust caught a VCE featured quote! Less than 10 minutes to go until the keynote starts.last_img read more

NYC Woman Convicted of Killing Neighbor, Dumping Body on Long Island

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Brooklyn woman was convicted Tuesday of killing her 28-year-old neighbor, dismembering the victim’s body and scattering the remains in Bay Shore and Hempstead last year.A Suffolk County jury found Leah Cuevas, 44, guilty of second-degree murder.Prosecutors said Cuevas killed Chinelle Latoya Thompson Browne, a Guyanese immigrant and mother of four, in the apartment building where the suspect and victim both had lived.The victim was reported missing July 5. Her torso and severed legs were found in a vacant lot on the corner of Maple Avenue and Gibson Street in Bay Shore on July 8. The victim’s head and arms were found days later scattered in Hempstead.Cuevas denied killing Browne and had told neighbors that the victim “walked off with a Jamaican man.”Judge John Toomey is scheduled to sentence Cuevas on Jan. 14. She faces up to 25 years in prison.last_img read more

Manhattan, Fairfield meet in MAAC tourney

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditNo. 9 seed Manhattan (12-17, 8-12) vs. No. 8 seed Fairfield (12-19, 8-12)Metro Atlantic Conference Tourney First Round, Boardwalk Hall, Atlantic City, New Jersey; Tuesday, 4 p.m. EDTBOTTOM LINE: Manhattan and Fairfield are prepared to match up in the opening round of the MAAC tournament. Fairfield swept the two-game regular season series. The teams last met on March 6, when the Stags shot 61.9 percent from the field while holding Manhattan to just 29.8 percent en route to a 66-50 victory. TEAM LEADERSHIP: The Jaspers have been led by Pauly Paulicap and Tykei Greene. Paulicap is averaging 10 points and 6.2 rebounds while Greene is putting up 10.2 points and 4.9 rebounds per contest. The Stags have been led by juniors Jesus Cruz and Taj Benning. Cruz has accounted for 11.2 points while Benning has averaged 9.8 points and 4.6 rebounds per outing.JUMPING FOR JESUS: Cruz has connected on 23.4 percent of the 64 3-pointers he’s attempted and has gone 2 for 4 over the last three games. He’s also made 71.1 percent of his foul shots this season.SLIPPING AT 64: Fairfield is 0-13 this year when it allows 64 points or more and 12-6 when holding opponents to fewer than 64.THREAT BEHIND THE ARC: Fairfield’s Landon Taliaferro has attempted 188 3-pointers and connected on 33.5 percent of them, and is 6 for 21 over his last three games.DID YOU KNOW: The Fairfield defense has allowed only 62.9 points per game to opponents this season, ranking the Stags 22nd among Division I teams. The Manhattan offense has averaged 62.6 points through 29 games (ranked 303rd, nationally).___ Manhattan, Fairfield meet in MAAC tourney Associated Press center_img For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.com March 9, 2020last_img read more

Omesh Danram selected for CGI

first_imgExcelling at the top of his level representing the University of Guyana cricket team, Omesh Danram has continued to prove that he is a dangerous factor and should not be taken lightly as his hard training is now a testament to his success as he has earned a spot in the Cricket Guyana Inc (CGI) franchise.Omesh Danram scores 59* against MYO in the NBS Second-Division 40-Over tournamentIn 2014, the Guyana Cricket Board (GCB) set up the CGI; this body would now oversee the smooth operations of the franchise system on behalf of the West Indies Cricket Board now known as Cricket West Indies (CWI), thus more players were exposed and given the opportunity of playing competitive cricket and getting a chance for selection to the national team.In the recently-concluded New Building Society (NBS) Second-Division 40-Over tournament, Danram batting at number four finished with an impressive 285 runs at an average of 40, thus placing him on the radar for selection.In an exclusive interview with Guyana Times Sport when asked what this opportunity would create for him, Danram said, “I’m really delighted to be selected and showcase my ability amongst Guyana’s best players in the country. I am able to be placed on a platform where I can gain more knowledge from experienced players and that is really invaluable. It will help me to test my cricketing abilities in all areas, plus it’s a major boost to know that you are being viewed by all members of the cricketing fraternity, and people will see you and recognise you.”He also stated that when he entered the NBS Second-Division 40-Over tournament, his goal was to be the top runs scorer as that was his personal goal. He noted that he started off the competition with 49* against Guyana Defence Force (GDF) and then he went on to make 131 against Police and even 121 against GDF in the First Division tournament as runs were now coming easier. In his closing remarks, Danram stated that he would like to thank his coach and parents because they have always been there supporting him from day one.Thus far Danram has played one match so far representing Georgetown in the CGI on September 27, 2018, and made a well-played 59*; therefore, climbing the ladder as he aims to make his name known and be selected for the national side.last_img read more