Finance

Morning Market Roundup: Greek Austerity Measures, General Electric’s Hiring Spree

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

EU: Greece passed austerity measures on Sunday, helping the country to assure an international bailout. According to Reuters, 199 lawmakers voted in favor and 74 against. The next step is to have euro zone finance ministers approve the rescue; they are scheduled to meet in Brussels on Wednesday. Meanwhile rioters protested against the measures in Athens, fighting police and setting fires to buildings.

The decision came despite a weekend filled with violent protests.

See the Greek protesters via Fox Nation:

Japan: Japan reported its annual GDP came in at 2.3 percent with its fourth quarter number declining 0.6 percent, contracting more than expected. The Bank of Japan will now conduct a two-date rate review and may consider additional easing but Greece’s positive moves and the yen coming off of record highs, it may be challenging to justify policy easing. According to CNBC, the Bank may follow in the Federal Reserve’s footsteps and set a specific inflation target.

Vodafone: The company is contemplating a cash bid for Cable & Wireless Worldwide, but there is no immediate offer, which has been estimated to come in around GBD 700 million ($1.1 billion). By U.K. law, Vodafone has until March 13 to either make an offer or say it is not interested. With the acquisition, it would enable the company to unload the increasing Internet traffic to a fixed network with more capacity, according to Reuters.

General Electric Co: GE has announced plans to hire 5,000 U.S. military veterans during the next five years and invest $580 million from an expansion in its United States aviation footprint. This year, the company will open three new U.S. aviation plants in Ellisville, Mississippi; Auburn, Alabama, and Dayton, Ohio. It will also hire 4,500 new employees.

[Editor’s note: portions of the above originally appeared on Wall St. Cheat Sheet.]

Comments (18)

  • rburtz
    Posted on February 13, 2012 at 12:44pm

    What?? No uproar from the unios and their paid mouthpieces in congress about the fact that GE wants to open 2 plants in Right-to-Work states???

    Report Post »  
  • judy828
    Posted on February 13, 2012 at 11:57am

    gE bringing good things to life. Not paying taxes, sitting at the table making laws for you and me with the rest of the govt. Behind. Corruption, state media, and we are the loosers paying for it. The Feds will be knocking at the door. Please help dear Lord. Amen

    Report Post »  
  • seeker9
    Posted on February 13, 2012 at 11:43am

    GE’s hiring sounds like normal employee replacement.
    On a lighter note, AAPL broke $500/share, albeit temporarily.

    Report Post » seeker9  
  • BLACKDIAMONDSKIER
    Posted on February 13, 2012 at 11:24am

    Do you think if people start to riot in the streets of the U.S. that the President could invoke these Executive Orders with the excuse of “It’s a crisis”. Check these current executive orders out.

    10990- Allows the government to take over all modes of transportation and control of highways and seaports.

    10995- Allows the government to seize and control the communication media

    10997- Allows the government to take over all electrical power, gas, petroleum, fuels and minerals

    10998- Allows the government to seize all means of transportation, including personal cars, trucks or vehicles of any kind and total control over all highways, seaports, and waterways.

    10999- Allows the government to take over all food resources and farms

    11000- Allows the government to mobilize civilians into work brigades under government supervision

    11001- Allows the government to take over all health, education and welfare functions

    11002- Designates the Postmaster General to operate a national registration of all persons

    11003- Allows the government to take over all airports and aircraft, including commercial aircraft

    11004- Allows the Housing and Finance Authority to relocate communities, build new housing with public funds, designate areas to be abandoned, and establish new locations for populations

    11005- Allows the government to take over railroads, inland waterways and public storage facilities

    Report Post »  
    • BLACKDIAMONDSKIER
      Posted on February 13, 2012 at 11:28am

      Here are more Executive Orders if I may….

      11051- Specifies the responsibility of the Office of Emergency Planning and gives authorization to put all Executive Orders into effect in times of increased international tensions and economic or financial crisis.

      11310- Grants authority to the Department of Justice to enforce the plans set out in Executive Orders, to institute industrial support, to establish judicial and legislative liaison, to control all aliens, to operate penal and correctional institutions, and to advise and assist the President.

      11049- Assigns emergency preparedness function to federal departments and agencies, consolidating 21 operative Executive Orders issued over a 15 year period.

      11921- Allows the Federal Emergency Preparedness Agency to develop plans to establish control over the mechanisms of production and distribution, of energy sources, wages, salaries, credit and the flow of money in the U.S. financial institutions in any undefined national emergency. It also provides that when a state of emergency is declared by the President, Congress cannot review the action for 6 months.

      Report Post »  
    • SamIamTwo
      Posted on February 13, 2012 at 11:34am

      I‘d add more but the man has issued more EO’s than I have ever witnessed in 63 years.

      Report Post » SamIamTwo  
    • SamIamTwo
      Posted on February 13, 2012 at 11:35am

      http://1461days.blogspot.com/2009/01/current-list-of-president-obamas.html

      Here ya go a pretty up to date list of EOs.

      Report Post » SamIamTwo  
    • SamIamTwo
      Posted on February 13, 2012 at 11:37am

      Oh and this is the official Gov’t list.

      http://www.archives.gov/federal-register/executive-orders/obama-subjects.html

      Archived as soon as it is issued. LOL

      Report Post » SamIamTwo  
  • Mr Sanders
    Posted on February 13, 2012 at 10:57am

    I think its time for this company to be broken up – way too big for it britches!!

    Report Post » Mr Sanders  
  • Eric_The_Red_State
    Posted on February 13, 2012 at 10:52am

    Hey – I can’t be bothered with such nonsense.

    Who won the Grammy’s?
    What did Brittnie Spears have for lunch yesterday?
    Ohh – how did Whitney Houston die? I must know!! It’s important.
    What’s Casey Anthony doing these days?

    Now THESE are the important things we should be talking about.

    Report Post » Eric_The_Red_State  
  • mike_trivisonno
    Posted on February 13, 2012 at 10:39am

    The enemies of our civilization must destroy Greece. They must bring down and make low that which ignited our civilization and whose achievements still drive us forward. They have taken Alexandria. Now they seek his home.

    The source of Western Civilization is being sacrificed before our eyes and so few recognize the high symbolism of this sacrifice.

    Report Post » mike_trivisonno  
  • NickDeringer
    Posted on February 13, 2012 at 10:30am

    These are simply people who never grew beyond adolescence entraining other adolescence. How would you expect them to act?

    Report Post » NickDeringer  
  • hauschild
    Posted on February 13, 2012 at 10:30am

    Yeah, amazing what companies like GE can do when they don’t have to pay corporate income tax.

    Report Post »  
    • dwh320
      Posted on February 13, 2012 at 10:34am

      The police should be cracking the heads of those fools. Standing there as targets for their fir bombs was stupid.

      Report Post » dwh320  
  • I.Gaspar
    Posted on February 13, 2012 at 10:29am

    This GE propaganda is just one small piece in obama’s attempt to buy the election through actions that seem to offer relief to specific groups. GE is part of his administration and will feign any action needed to keep their dictator pal in office.
    Don’t buy any of it…and don’t buy GE.

    Report Post »  
    • TerryDo
      Posted on February 13, 2012 at 10:52am

      Yes, we will witness the Great Deception; all of Obama’s corporate supporters and especially GE, in their attempt to get Obama re-elected, will be coming out and TEMPORARILY hiring people, at least until January 2013 and then there will come the Great Lay-off.
      And from Hillaryis44.org
      Obama simply cannot be trusted
      Obama cannot be trusted on any issue
      Obama cannot be trusted by his friends
      Obama cannot be trusted by his enemies
      Obama cannot be trusted.

      Report Post »  
    • Sirfoldallot
      Posted on February 13, 2012 at 11:49am

      Obama can be trusted on distroying America

      Report Post » Sirfoldallot  

Sign In To Post Comments! Sign In

Sign Up For Our Newsletter!

Glenn Beck Radio

Listen to Glenn Beck 24/7 Listen Now
Restoring Love