10/3/07

Economics

fiscal profligacy (Government spending as a percent of GDP is too high and the looming explosion in entitlement expenditures will make it worse. There is no good solution save spending discipline.). More on earmarks:

http://www.examiner.com/a-964804~Long_road_ahead_on_earmark_reform.html

An opinion on why we won’t have a recession:

http://www.usnews.com/blogs/capital-commerce/2007/9/28/6-reasons-we-wont-get-a-recession.html?s_cid=rss:capital-commerce:6-reasons-we-wont-get-a-recession

Politics

Domestic

International War Against Radical Islam

An update on negotiations with North Korea:

http://www.opinionjournal.com/editorial/feature.html?id=110010678

The Market

Technical

Fundamental

News on Stocks in Our Portfolios

Headline today’s Wall Street Journal ‘WalMart Era Wanes….’; the counterpoint:

http://www.bloggingstocks.com/2007/10/03/the-wall-street-journal-covers-death-of-wal-mart-wmt/

UGI (Dividend Growth Portfolio) management guided Street FY2008 earnings per share to $1.95-2.05 (SSI estimate-$1.95).

EPS: 2006 1.61, 2007 $1.78, 2008 $1.95; DVD: $.75 YLD 2.9%

http://finance.yahoo.com/q?s=UGI

Proctor & Gamble (Dividend Growth Portfolio) has retained Blackstone to evaluate the sale of several divisions (Duracell, Pringles, Folgers). Analysts estimate that the sale of all could bring $5 billion. The purpose of such a move would be to allow PG to focus on higher margin, faster growing divisions (beauty and healthcare).

EPS: 2006 $2.64, 2007 $3.02, 2008 $3.45; DVD: $1.41 YLD 2.3%

http://finance.yahoo.com/q?s=PG

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