Recovery Act

A research group reported that Kentucky, Illinois, Minnesota and Utah state government made the most dramatic progress in their reporting of the spending of federal economic stimulus spending in the last 6 months.

Kentucky surge to 2nd place from previous 47th half year ago, while Illinois 7th from 50th, Minnesota 4th from 34th and Utah 24th from 50th. Maryland still topped the list for the second year in a row.

The research group reviewed state Web sites that reported American Recovery and Reinvestment Act spending and graded them from 1 to 100. About $200 billion from the economic stimulus law was distributed to states.

The states with the highest scores in the new report are Maryland (87), Kentucky (85), Connecticut (80), Colorado (72) and Minnesota (72).

Eleven states scored below 20, including North Dakota (5), District of Columbia (6), Missouri (10), Alaska (13), Vermont (13), Louisiana (16), Mississippi (17), Idaho (18), Oklahoma (18), Texas (18) and South Carolina (19).

Good Jobs First Executive Director Greg Leroy said, “Some states are making great strides in fulfilling President Obama’s promise that the Recovery Act would be carried out with an unprecedented level of transparency and accountability,”

Recovery.gov, is the federal government’s Web site for tracking economic stimulus law spending. Congress and the Obama administration approved $787 billion in stimulus allocations a year ago to boost the economy; a portion of the money went for information-technology projects, including energy smart grids, broadband development and health IT.

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Toyota suspends sales

As though last week recall on Toyota cars were not enough, now, we got Toyota plants in US (Indiana, Texas and Kentucky) and Canada (Ontario) which will stop production next week, and frankly, they also not sure for how long (it was told to be 1 week).
All their Toyota dealers were instructed to suspend the sales of eight models which was involved in last week recall due to pedal problem.

In Tokyo shares of Toyota fell 2.7 percent on Wednesday, compared with a 0.2 percent fall in the Nikkei average.

An auto analyst quoted “The recall itself won’t be a big problem for Toyota’s earnings, but suspending production and sales could have a big impact depending on how long it lasts,”.

It hurts when their top selling Toyota Camry was in the recall list and also the suspended sales model.The other models are the 2009-2010 model year RAV4, Corolla and Matrix, the 2008-2010 model year Sequoia, the 2007-2010 model year Tundra, the 2005-2010 model year Avalon and the 2010 model year Highlander.

Safety assurance and consumer confidence are very important, that’s why they have to take this drastic action according to the VP of Toyota in US Bob Carter.
He added “This action is necessary until a remedy is finalized, we’re making every effort to address this situation for our customers as quickly as possible.”

Sales Halted List:
2009-2010 RAV4,
2009-2010 Corolla,
2009-2010 Matrix,
2005-2010 Avalon,
Certain 2007-2010 Camry,
2010 Highlander,
2007-2010 Tundra,
2008-2010 Sequoia

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Apple shares halted

I have seen this coming since the iphone sales been remarkable. More and more of my friends are getting one of this iphone, it’s no doubt the Q1 profit for apple was so good.

Earning in Q1 up 50% as Apple’s (AAPL) report was released, it indicates that the quarter is the best so far. In terms of revenue, Apple reports $15.7 billion, which is up 32% from this time last year.

Trading of Apple shares was halted in late trading, over some confusion about some of Apple’s accountancy changes, which coincide with iPhone sales recent spike.

Meanwhile, the sales of Apple computers (not just iPhones and iPods) had increased beyond expectation as well. Impending product (device like tablet PC) which will be launched on January 27 boost the Apple potential.

In another report,

The quarterly report overwhelm analyst expectation and company shares were halted on late Monday afternoon, According to CNBC.

The company has earned $2.08 a share in its first quarter and last year the same time its per share earning was $1.78. Sales were increased from 10.167 billion in last year to 15.68 billion in current year.

Stock was high during the Monday session as investors were anticipating of the results from Apple and Texas instrument.
Apple share closed for the day at $202.87 up 2.59 percent on the NASDAQ.

Investors of this company are in for a treat, but should google Nexus One rises to the rank, should expect some competition there, but this achievement of Apple will be a history in the making for this giant company.

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