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The U.S. Institute of Supply Management Index (ISM) of manufacturing orders for February 2014 shows an increase by 1.9 points to 53.2. Readings over 50 show expansion in the manufacturing sector.

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In September 2014 inflation in the eurozone reaches an annual rate of 0.3%, far from the 2% target set by the ECB. It was 0.4% in August 2014. Unemployment is at 11.5% in the eurozone. Inflation is expected to pick up with the euro declining to 1.26 to the dollar. Analysts expect no immediate action at the upcoming ECB meeting in Naples.

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American, Alaska Airlines, and Southwest Airlines are the only 3 airlines that never filed for bankruptcy. Analysts say that this has left it with a higher cost structure, and estimate that American's costs would be $600 million lower if it has the contracts Delta and Continental have. Delta Airlines merger with Northwest in 2008, and the planned merger of Continental and United, does not affect American Airlines management. CEO Arpey sees American as more nimble and trying to build something profitable, and sees being smaller than these newly merged competitors an advantage. American is focussed on markets around 5 major cities- Dallas, Chicago, Los Angeles, Miami and New York. In international travel it has One World partnerships with British Airways and Japan Airlines.

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The debate in Germany on admitting refugees intensifies after the attacks in Cologne. Austria limits its refugee acceptance to 37,500 for 2016, sharply down from the 90,000 admitted in 2015. Chancellor Merkel is under pressure to reduce the numbers of refugees for 2016.

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The focus is shifting from the oil majors to the companies in the oil field services sector, companies that supply the oil companies with oil field services. Deepwater oil field drilling rigs some of the most modern computer controlled ones run $650 million are in great demand and one Norwegian supplier of drilling rigs has anticipated the demand for advanced deepwater drilling rigs which the major oil companies had not invested in and is now in a position to charge $600,000 a day for the advanced rigs he has ordered 3 years ago as the deepwater drilling took off in places like offshore Angola. Earlier this Norwegian had anticipated the shift to long haul shipping of oil to places like India and China from Iran and offshore Africa.

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U.S. president Obama's nominee for U.S. Supreme Court Justice to fill the seat open after the death of Justice Scalia is Merrick Garland. Garland is described here by the NYT as a centrist looking more for the right answer than pursuing any ideological agenda. He is from Harvard Law School and finished a clerkship under Supreme Court Justice Brennan. He is seen as a listener interested in getting a better understanding of what people are saying, and thinking things through. Garland is chief judge of the federal appeals court in Washington D.C.

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Internet company valuations and IPO's in mid- 2012 reach the frenzied levels before the the tech bubble burst in 2000-2001.

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A short biography of Wisconsin Congressman and Romney's vice presidential pick, Paul Ryan.

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Reps. Eric Cantor (Va.), Kevin McCarthy (Calif.) and Paul Ryan (Wis.) have jointly written a book "Young Guns," that completely distances the new leadership in the Republican party from the leaders of a prior generation. The book says the older Republican leadership "betrayed its principles," by not controlling spending. See the the link to David Stockman who has criticized previous Republican administrations for their attitude to spending, including President Reagan. A recent NBC/WSJ poll shows only 24% of those polled seeing the Republican party positively. The idea is to differentiate the younger leaders as new voices in the party, different from the party's previous role.

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Cities like Huntsville, Alabama that have alarge presence of military defense contractors and have NASA presence are doing well in this downturn. So are cities that have industreies or plants not affected as much by the downturn. Cities like McAllen and Brownsville in Texas, Mobile, Alabama, Ogden and Provo, Utah, York, Pennsylvania, Youngstown, Ohio, Yakima, Washington and Lafayette, Louisiana. Consumer loan balances for these cities are shown as increasing in these cities from data developed by Equifax and Moody's Economy.com. Some of this could be from more overborrowing but other information suggests that local economies and employment have held up well in these places. Also problem loans at local banks in places like Huntsville, are a low 2%.

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German elections results in graphics 2025, shown in Deutsche Welle DW.  As in US in Germany 2024 more women and university educated in SPD, Greens more basic education and men in AfD, CDU. People over 60 voted for SPD and CDU, 20-23% voted for AfD in 25-50 year age groups.

The deindustrialization of the US and Germany and France has led to this situation, as jobs were outshored to China under Merkel and Schroeder. Fewer opportunities for people with a basic education and the indifference of governments to these disadvantaged groups under Merkel and Schroeder. The other change is that in Germany in the Eastern parts of the country around Dresden, Jena, Leipzig in Eastern Germany the AfD is now dominant, except for Berlin where the Left and SPD are dominant.

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How the Russian aircraft industry is being consolidated to produce a win-win relationship between Europe and Russia- markets, lower costs and R&D for Europe, advances for Russia's aircraft industry and new markets for Russian aircraft in the regional and cargo planes market.

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Adam Nagourney is Los Angeles Bureau chief of the New York Times. Here he follows California Governor Jerry Brown's efforts to tackle the state's fiscal problems, and talks about his many conversations with Brown. He describes Jerry Brown the man, how he and the state he governed years ago have changed, and the challenges he faces in finding solutions to the state's financial problems. Nagourney and Brown talk about the problems with the political culture in the state, how things have changed- Brown was 36 when he bacame governor in his previous term and is now 73 in this term- how term limits have created their own set of problems with the lack of experienced legislators who can push bills through.

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Who knew that Prince William had actually slept on the streets of London in 2009 to understand homelessness and his passion to end homelessness through affordable housing. There is also the passion of the King Charles to do this another way by building aesthetic, friendly housing at lower cost so that it serves the needs of ordinary people. Around this one idea the deputy prime minister Angela Rayner and  William, Charles have found a new relationship. Charles chats freely with Angela, says the Times in this report and the two have developed shared concerns, as it is Rayner who as housing minister that has to come up with the 1.5 million new houses to be built under Labour's and PM Starmer's promise to Britain. It is agood sign for the new Britain that the royal family can come together with someone who has had her own struggles as Angela Rayner has had in her earlier years with an early pregnancy, as the three people come together to fight homelessness in our communities. ...

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Facin competition from RIM's Blackberry, Apple's IPhone, Smamsung and LG, Nokia has seen its market share in the USA take asteep dive from 35% in 2002 March to 10% in 2008, and 7% in June 2009. Nokia say experts made adecade of mistakes. It failed to design new phones , failed to anticipate consumer tastes in America, like flip phones and touch screens, and failed to accomodate the CDMA format using instead the European GSM standard.

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Adidas new CEO Kasper Rorsted, of Danish origin, adopted a costcutting approach at Henkel. Adidas needs to improve margins in its competition with Nike. It has also lost ground in European markets. He is seen as an American CEO in Germany.

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So much talk about age in office. Senator Chuck Grassley of Iowa is 91 years old and the chair of the Senate Judiciary Committee. So far he has handled the nomination hearings for Attorney General nominee Pam Bondi decently says this report. A lot of the DJT  immigration agenda and rebuilding the government agencies depends on the Judiciary Committee chairman.  Grassley remains unfazed after winning the 8th term in 2022- "We’ve got freedom of speech in this country,” he said. “But the voters speak, and I won by 13 percent or maybe 12 percent … Isn’t age just a number?” Age just a number, and president Carter made it to 100, president Biden who knows, who knows? Lyrarc.com in the adjoining article shows Biden saying at a church in Charleston, S.C. "I'm not going anywhere. I'm not kidding. I'm in no ways tired." ...

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Darren Woods, CEO of Exxon, says stops and starts are bad for business- that joining, leaving, and leaving again followed by possible joining again doesn't make sense and is bad for business because it creates a lot of uncertainty.

"I don’t think the stops and starts are the right thing for businesses, it is extremely inefficient. It creates a lot of uncertainty.”  

Another factor is that economics drives action on climate change including the reduced prices for solar that make it competitive with natural gas, and natural gas replacing coal. Business operates independently of who is in charge of the administration for the long term.

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China decides to go ahead with a reception honoring the 40th anniversary of the setting up of diplomatic ties with Japan in 1972. Hu Shuli, editor in chief of Caixin Media, economic journalist, says job losses for Chinese working in Japaneses owned companies will hurt China. China received $12.6 billion of Japanese investment in 2011, in comparison the U.S. received $14.7 billion, according to Japan's External Trade Organization.

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THe GM restructuring that leaves the US and Canadian governments with control of 72.5% of the company, and unsecured bondholders with 10% of the company. The unsecured bondholders were offered warrants that could bring up their share of ownership to 20%, in return for forgiving $27 billion in GM debt. The UAW has the rest, 17.5% of the company, plus $6.5 billion in preferred equity and $2.5 billion in GM debt. The US government will commit $30 billion to GM in addition to the $20 billion already given to GM. ANd the Canadian government will give $9 billion. By taking a large share of the ownership of GM- at a time when the market for automobiles in the US is at 9.5 million vehicles and GM needs a 10 million automobile market to breakeven according to the restructuring plan- the government is implicitly taking on the responsibility for additional loans to GM till the market recovers.