Retailers make 20% to 40% of their revenue between Thanksgiving and the New Year. That's why a handful of popular U.S. retailers have announced plans to open their doors on Thanksgiving Day, instead of waiting a few hours until Black Friday.
Kohl's Corp. (NYSE: KSS), Best Buy Co. Inc. (NYSE: BBY), and Old Navy all plan to open on the holiday. Macy's Inc. (NYSE: M) plans to be open on Thanksgiving for the first time in the store's 155-year history.
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The trend of companies in America hoarding cash keeps growing.
The 10 U.S. companies with the most cash reported a combined $540 billion in cash, cash equivalents, and short-term investments in their last quarterly reports. That's up nearly 3.7% in just the last quarter.
Could these 10 companies be Icahn's next targets?
Score another victory for Carl Icahn.
With the Transocean LTD (NYSE: RIG) deal announced yesterday (Monday), Icahn has once again shown why he's considered a master among activist investors.
The concessions he won from the world's largest offshore rig contractor include a boost to Transocean's dividend from $2.24 to $3 a share, subject to approval at next year's annual general meeting.
Transocean management also agreed to support Icahn-backed director Samuel Merksamer's re-election to the board, as well as the election of another Icahn pick, Vincent Intrieri, at next year's meeting.
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“You never let a serious crisis go to waste… It’s an opportunity to do things you could not do before.” –Rahm Emanuel
The once unthinkable is quickly becoming probable.
At some point in the next few years, your assets could well become the target of a “Supertax” as high as 17%.
Last week, we talked about the need to buy “out of print” assets to protect our wealth from brazen government seizures.
I explained that quantitative easing (QE) was likely to get bigger, not smaller, and that you needed to become your own central bank.
The truth is, the writing’s already on the wall. We’ve seen it happen.
Cyprus’s “bail-in” cost numerous bank depositors more than 47% of their capital.
Poland’s “pension reform” saw private pensions raided to help lower the government’s debt-to-GDP ratio.
And Spain plundered its Social Security Reserve Fund to keep buying its own risky debt, when no one else would.v
Dangerous precedents are being set, with chilling regularity.
More than ever,
Stock Market News Today, Nov. 11: The stock market today is inching up today, with the Dow headed for another record close.
The S&P 500 is up about 0.04% at 1,771 points, and the Dow Jones Industrial Average is up 0.1% to 15,774 points. The Nasdaq Composite Index is up 0.1% at 3,921.
Meanwhile, crude oil is trading up a bit today, with light crude oil for December delivery up about 0.2% near $94.80. And gold is down a tad near $1,281 an ounce, likely still weighed by last week's stronger than expected jobs report.
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Best Buy Co. Inc. (NYSE: BBY) and Toys "R" Us Inc. are the two latest retailers to announce that they will open their doors on Thanksgiving. Other retailers like Target Corp. (NYSE: TGT) have expanded their "Black Friday" hours this year.
But does this tactic smack of desperation?
If you think Amazon.com Inc. (Nasdaq: AMZN) will do a booming business on Cyber Monday this year, consider that Chinese shoppers will spend more money today with that country's top e-commerce website, Alibaba.com Ltd., than American shoppers will spend on Black Friday and Cyber Monday combined.
The reason is that Nov. 11 is China's "Singles Day," a manufactured holiday similar to Valentine's Day in the U.S.
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We all know that, so long as the Fed keeps the printing presses on, the risk of a worldwide currency crisis gets even higher.
Gold, of course, is the timeless hedge here – for all the reasons you and I know.
But are we truly prepared for a currency crisis?
Much of the gold in the United States is owned by big institutions: the Treasury, the Federal Reserve, and bullion banks. So, if a currency crisis hits, their 8,900-ton hoard won't do us a bit of good.
But there is one country whose "democratic" approach to gold ownership will allow its people to survive a currency crisis, literally, in fine style.
Not only that, but this country's people are giving their government a whopping black eye for its heavy-handed ways in the process.
Here's what's going on there...
China has surpassed the U.S. as the No. 1 importer of oil, and current indications are that Chinese oil demand will average 1.9% higher annually through 2035.
Money Morning Global Energy Strategist Dr. Kent Moors joined CCTV News
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Gold prices are the honey badger of precious metals right now.
As 2011's very popular YouTube video showed us, the honey badger makes moves that don't make sense – it "don't care."
And neither does gold.
Like the honey badger, gold prices just don't seem to care that the world has teetered on the brink of destruction all year. They just keep heading lower.
Here’s what’s been dragging gold down...
