Morning Market Roundup: Google+, AMR Delisted, Verizon $2 Fee

Here’s what’s important in the financial world this morning:

China’s Purchasing Managers Index, Slowing Economy: The country’s PMI was below 50 again in December. A PMI above 50 is considered a mark of expansion. The China Purchasing Managers’ Index for this month was 48.7. In November, it was slightly worse at 47.7. Now, the People’s Republic must balance making money easier to borrow with whether that easing becomes the cause of inflation. The availability of money may not solve the problem at all; it may just delay the effects of poor PMI. No amount of capital can offset a sharp drop in demand for China goods in the U.S. and EU. 

Can’t trade AMR on NYSE: The ability of investors to trade share of AMR, the bankrupt parent of American Air, on the NYSE will disappear. That adds insult to injury. American is one of oldest carriers in the U.S. Unlike many of its competitors, it has not gone through serial Chapter 11 filings to remain viable.

Verizon’s 4G Woes: The problems of Verizon Wireless, which include the third collapse of its 4G network in as many weeks have not ended. The firm made the following announcement:

Verizon Wireless offers customers numerous free and simple payment options and we encourage customers to use those options. Starting January 15, a new $2 payment convenience fee will be instituted for customers who make single bill payments online or by telephone.

The news caused a revolt among Verizon Wireless subscribers. Verizon said it needs to make the charge to offset transaction expenses. Secretly, the fee may also help the carrier make up for the revenue it loses as subscribers flee is crumbling network.

Google+ vs. Facebook: The threat of the Google+ social network product to Facebook appears more real with each passing day. Social network expert Paul Allen says Google has 62 million “plus” users now. He forecasts that the figure will reach 400 million by the end of 2012. Facebook has about 750 million members. What Allen does not address is whether people actually spend any time on Google+. Most research shows that social network “time spent” favors Facebook by a wide margin

(24/7 Wall St.)

Comments (7)

  • Thejoker671
    Posted on December 30, 2011 at 2:13pm

    I’ve had AT&T for about 12 yrs now, and haven’t had any problems. Have learned that when you call in, you just hit zero over and over, and you get a real person.

    Report Post »  
  • JohnnyRaven
    Posted on December 30, 2011 at 1:23pm

    At best, AT&T is the worst of all carriers. Check “Consumer Reports.” Every time I have exited AT&T, they bought out the new phone service. Another attempted monopoly with bad service.

    Report Post »  
  • garyM
    Posted on December 30, 2011 at 10:23am

    They lose enough customers, they’ll quit the BS!

    Report Post »  
  • garyM
    Posted on December 30, 2011 at 10:20am

    I’ve been a Verizon wireless customer for about 9 years, always paid my bill on time. They gradually have raised my bill. I would call Verizon every now and them and have a pow wow talk about my options to swap companies and they would lower my rates back down. Once they gave me 10.00 payment for the second phone I had and after one month they raised the second phone back to 20.00. The bill started out 1000 minutes for 49.95 natiionwide split between to phones, free mobile to mobile to all Verizon phones and free texts. Then when I started using text, they started the text plans which raised my bill about another 20.00 a month, my bill has went from 49.95 for the base but after the Universal Service charge, the cause we can tax, city tax, state tax, fed tax and host of others things that you don’t know what is, it’s about 100.00 a month. I recently called Verizon and told them I’d about had enough. I’m switching to pre-paid Walmart phones. Verizon is definately a ripoff company, but so is AT&T and the rest! I’m sure if they ever go under, Obama will bail them out!

    Report Post »  
    • dorrimichaels
      Posted on January 8, 2012 at 4:19pm

      I myself have been a Verizon Customer for 15 plus years. Starting I’ve had nothing but problems with this company. I have done their software updates in in 1 case it completely ruined my incredible phone and verizon took zero Liability. Their response was for me to buy a new phone thru them, hence upgrading getting re locked into a 2 year contract with 1 of the worst providers currently!! I rejected their idea doing that and went out and bought a phone on my own and I‘m still having same problems with text messaging it’s VERIZON and not the phone! I’M getting real tired of spinning hours on the phone trying to solve problems that they will not admit that is there a problem instead of the customers equipment. MY wife has a charge an is having sim ilar problems especially with Her 4 g network. If your pain forest service in is not be provided on a consistent basis is this grounds for getting out of your contract with verizon? I’m really done with companies that accept no responsibility for all of the problems that they create by not being a reliable carrier and they are charging a lot of money for this service you think should be provided without all the Hassles!! I’m a Great testimony for any Cell Company that wishes to take market share away from VERIZON! Their commercials are flat out lies to the American People!! Their service isn’t reliable on many levels. Maybe if enough of us can ban together I’m all for filing a class action Lawsuit Against VERIZON?

      Report Post »  
  • exfire
    Posted on December 30, 2011 at 10:17am

    I have had VERIZON for over the last ten years and I know just how unreliable their service has become..and now they want to bill me for paying on time !!! I have been thinking of getting a new phone…..guess where I won’t be looking for one !!!

    Report Post »  
    • texasfireguy
      Posted on December 30, 2011 at 10:24am

      Never had a single problem with AT&T and very rarely drops calls.

      Report Post » texasfireguy  

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