Paul Laquerre

124 Flips | 2 Magazines | 152 Followers | @plaquerre | Keep up with Paul Laquerre on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Paul Laquerre”

And Now Comes A Huge Week For The Global Economy

Europe, meanwhile, is in depression, and there are major concerns that China is sputtering out.<p>A bunch of big questions should be answered this week, as we get an avalanche of economic data.<p>The first week of any month is always big, and so this Wednesday (May 1) through Friday will be jam packed …

Why Revenues Have Been Worse Than Expected During This Earnings Season

S&P 500 profit margin estimates are also holding up, with 9.8% expected this year and 10.5% expected next year. I expect margins to remain flat in 2013 and 2014. So earnings should grow at the same pace as revenues. For earnings, I am still predicting $110 per share this year, up 5.9% y/y, and $118 …

US pay growth is pathetic and expected to stay that way

American paychecks continue to look skimpy, according to the latest report on incomes and spending, which the US Commerce Department just shoved out the door.<p>The headline figure<p><b>Incomes rose 0.2% in March.</b> That’s slightly better than forecast, according to Bloomberg. And it’s fair to say incomes are …

U.S. Dept. of Commerce

If MBAs are useless, we’re all in big trouble

<i>Quartz Debate: The author of this piece debated the merits of an MBA with Quartz contributor Jay Bhatti.</i><p>MBAs–both the degrees and the people who have them–are an obsolete waste of time and money. An irrelevant recipe for failure. At least that’s what all the cool entrepreneurs and venture …

Innovation

BMW expects slower sales growth in China

SHANGHAI--Germany's BMW AG (BMW.XE) said it expects slower sales growth in China this year, as premium car makers grapple with a slowdown in economic …

IT firms may be visa fall guys

Indian information technology services firms that are heavy users of the H-1B temporary work visa are the big losers in the Senate comprehensive immigration bill unveiled last week — and they may have their industry business partners to blame.<p>The tech sector has long relied on IT services firms as …

Microsoft CFO exits; company tops earnings expectations

Microsoft said on Thursday that Chief Financial Officer Peter Klein was leaving the company, as it struggles with sharply declining personal computer sales and a lukewarm reception for its new Windows 8 operating system.<p>Klein, an 11-year Microsoft veteran with 3 1/2 years as CFO, is the latest in a …

Windows Phone

Big Data News Roundup: Correlation vs. Causation

In the first quarter of 2013, the stock of big data has experienced sudden declines followed by sporadic bouts of enthusiasm. The volatility—a new big data “V”—continues this month and Ted Cuzzillo summed up the recent negative sentiment in “Big data, big hype, big danger” on SmartDataCollective:<p>“A …

FED BEIGE BOOK: Housing And Auto Sales Are Driving 'Moderate' Growth In The US

The Beige Book is out.<p>The Federal Reserve says "moderate" growth in the U.S. was led by housing and auto markets.<p>5 of the 12 Federal Reserve districts reported "modest" economic growth while two districts reported a pace of growth that rose "slightly."<p>According to the release, consumer spending …

Marissa Mayer Doesn't Have To Worry About Yahoo's Imploding Core Business

There was one big difference between this phone call and the other two, however.<p>This time, Yahoo's results were lousy.<p>Mayer reported that during the first three months of this year, Yahoo generated much less revenue than most Wall Street analysts expected.<p>Then Yahoo's CFO, Ken Goldman, got on the …

Q1 Venture Capital Spending And Number Of Deals Down, M&A Activity Drops 44 Percent And Pre-Money Valuations Plummet

Dow Jones Venture Source released its quarterly report on the state of venture capital, including data on number of VC deals, funds raised, M&As and IPOs in the technology sector. According to the report, U.S.-based companies raised $6 billion from 752 venture capital deals in Q1 2013, an 11% …

Chinese online shoppers spent $190 billion in 2012. Here’s a look at how—and what—they bought

The headline number from the Chinese government report on e-commerce is the sales: 1.26 trillion yuan ($190 billion). However, the annual report (pdf, in Chinese), which is researched and published by the absurdly named Chinese Internet Network Information Center—and claims the not-quite-right …

eCommerce

Four Reasons Why It'll Be Almost Impossible To Reform The Tax Code

I hate to think that my life has been wasted, but let's consider several reasons why it's become more difficult to scrap the Internal Revenue Code and implement a simple and fair system such as the flat tax.<p><b>1. The barnacle effect</b>— Our tax code is now a 74,000-page monstrosity, and it seems that …

The Most Productive Drug Companies Of The Past 10 Years

Over the past 10 years, 278 new drugs have been approved by the Food and Drug Administration, according to data from the InnoThink Center for Research in Biomedical Innovation. One hundred-and-seventy-five of them, or 63% of those approvals, came from 41 companies that had at least two new drugs …

Until the 1990s, companies didn’t have “business models”

Before the late 1990s, no one was using the phrase “business model.” Or at least, it hardly appeared in written form. The phrase has since morphed, subtly but quickly, from an abstract theoretical term to one with animate, even living connotations. This linguistic shape-shifter has the capacity to …

Language

Boston braces for economic impact from bomb blasts

At La Voile restaurant on Boston’s upscale Newbury Street, where the filet de boeuf goes for $47, dinner traffic has fallen off sharply since a pair of deadly bomb blasts two blocks away left the city badly shaken.<p>“They are canceling one after the other,” said manager Delphine Chaufsier. “People …

Construction Industry

Why Stock Prices Should Keep Rising Despite Slowing Wage Growth

Now that Tax Day is behind us, stocks should go up, for at least the next couple of weeks for three reasons.<p>First and most importantly, the Fed key strokes $4 billion of phony money into existence each and every trading day.<p>Second, companies keep buying back shares.<p>Third, billions of tax-oriented …

J&J's Bill Of Health: Q1 Profit Up 8% From Stronger Pharmaceutical Sales

Johnson & Johnson says its quarterly profit increased more expected, driven by higher pharmaceutical and medical devices sales.<p>J&J also reaffirmed a full-year profit forecast of $5.35 to $5.45 a share, while analysts were forecasting $5.39 a share. J&J did not offer an update on the proposed …

Big Mac Index Shows Official CPI Underreports Inflation

In “Better to Bank with Cyprus Than the United States?” we wrote:<p>In 1996 the government began measuring inflation differently, lowering the reported number significantly. … The average Big Mac costs 83.5% more.<p>Even though the cost of a Big Mac has risen from <b>$2.36</b> to <b>$4.33</b>, the CPI index has only …

IMF: Sorry, everyone—the global economy will produce $216 billion less than we thought

In a report titled “Hopes, Realities, Risks” (pdf), the IMF revised its estimates for global economic output today, saying it now expects 3.3% GDP growth, down from the 3.5% it projected back in January. That would put global GDP at around $74.3 trillion for 2013.<p>“We have moved from a two-speed …

Economics

Cash-Strapped J.C. Penney Takes Crucial $850M Infusion From Credit Line

J.C. Penney, after blowing through hundreds of millions of dollars of cash to support a risky turnaround, will draw $850 million from its $1.85 billion credit facility. The infusion will go toward replenishing inventory and store remodeling, the company says.<p>J.C. Penney during the failed transition …

Foreign holdings of U.S. debt at all-time high

WASHINGTON (AP) — Foreign demand for U.S. Treasury securities rose to a record level in February, indicating that international investors remain confident in U.S. debt despite the continual budget wrangling in Washington.<p>The Treasury Department said Monday that foreign holdings of U.S. Treasury …

Cost Pressures Could Chew Up Chipotle's Earnings

Chipotle Mexican Grill is scheduled to announce its Q1 earnings on April 18. The stock price has consolidated in the past couple of months on a moderately stronger fourth quarter and generally upbeat economic recovery.<p>Although the company’s long-term fundamentals look intact, this quarter could see …

Apple Is Likely To Take On Debt To Pay Out A Big Dividend, Says Bernstein

Sacconaghi says Apple is talking to large shareholders about how it should distribute its cash. He has spoken with some of the shareholders, and he reported his findings.<p>We don't have the note, but Philip Elmer DeWitt at Fortune wrote it up.<p>The key bits:<p>Shareholders want Apple to return 50% of free …

Infosys helped make the world flat, except its own management structure

Through much of the 1990s and early 2000s, Infosys ranked up there with the Taj Mahal as part of any foreign dignitary or business luminary’s India itinerary. To drive home the software developer’s significance, the trees lining the company’s sprawling Bangalore headquarters include placards with …

Infosys

If Lowe's Wants To Get Serious About Home Depot, It'll Have To Man Up

Forgive me if this sounds archaic: home improvement is still a man’s world. Despite the fact that many “Honey-Do” lists are evolving into “Honey-I-Can-Do” mantras thanks to the increasing influence of Pinterest, blogs, and an age of “look what I did” D-I-Y social sharing, the female segment in the …

U.S., China pledge on North Korea

BEIJING — The United States and China committed Saturday to a process aimed at ridding North Korea of its nuclear weapons, with the Obama administration gaining at least the rhetorical support of the only government that can exert significant influence over the reclusive North.<p>The question now is …

IRS Encourages CPA To Take Up New Trade

Ever send an e-mail to your CPA asking him if he wants to have lunch at your favorite restaurant at a particular time and get a response like this:<p>Sure.<i>In accordance with applicable professional regulations, please understand that, unless expressly stated otherwise, any written advice contained in,</i> …