GovernmentAuctions

1995 Rolls Royce Silver Spur IIIEver wanted to own a luxury car that's usually reserved for royalty and foreign dignitaries? Now you can get the chance at GovernmentAuctions.org. a beautiful 1995 Rolls Royce Silver Spur III now currently available for online auction courtesy of the U.S. Marshals. This handcrafted luxury vehicle comes standard with power windows, power windows, power seats, power door locks, power brakes, cruise control, air conditioning, leather seating, hardtop roof, AM/FM radio, CD changer in the trunk, factory brand stereo, alarm system, premium factory wheels, and just over 31k miles. The vehicle itself is in fantastic aesthetic condition both inside and out, but only requires a new battery in order to be up and running again. The current asking price for this Rolls Royce is just $23,500 with no bids as of yet. The car is currently being held in Las Vegas, and the auction will be ending in just a few short weeks so be sure to activate your 3-day free trial account now.

Saturday, June 6, 2015

Fed's CEO Talks Rate Hike Timing, Consumer Credit Up 7.25% & SEC Charges $CSC



William C. Dudley, President and Chief Executive Officer of the Federal Reserve, gave remarks at the Economic Club of Minnesota’s June Luncheon in Minneapolis on Friday. In his remarks he provided his views on the timing and pace of rate hikes over the short- and long-term. It's clear that Dudley is less optimistic about growth, but he's still hopeful about the future in terms of inflation and labor trends. 

"Putting this all together," he says, "I still think it is likely that conditions will be appropriate to begin monetary policy normalization later this year." Dudley also takes some time to address concerns that the Fed has the ability to control the fed funds and the impact of a rate hike on asset prices. 

"We have the appropriate tools to push up short-term interest rates," Dudley says. "However, lift-off may not go so smoothly in terms of the impact on financial asset prices. After all, lift-off will represent a regime shift after more than six years at the zero lower bound." Only time will tell.

The SEC charged Computer Sciences Corporation (NYSE: CSC) and its executives with manipulating financial results. Former finance executives involved with the company's international businesses were also charged for ignoring basic accounting standards. CSC agreed to pay $190 million, former CEO Michael Laphen agreed to return more than $3.7 million under the clawback provision and pay a $750,000 penalty, and former CFO Michael Mancuso will return $369,100 and pay a $175,000 penalty. Allegedly items were added to the company's accounting models that artificially increased profits leading to significant reductions in company earnings in 2010 and 2011. 

“When companies face significant difficulties impacting their businesses, they and their top executives must truthfully disclose this information to investors,” said Andrew J. Ceresney, Director of the SEC’s Division of Enforcement. 

The SEC also found that finance executives in Australia and Denmark manipulated financial results of the company’s businesses in those regions. "They overstated CSC’s operating results by more than 5 percent in the first quarter of fiscal year 2009 and allowed the company to meet analysts’ earnings targets during that period," the report said.The stock currently trades at $67.69 and is up 41.67% in the last 5 years.

According to the Federal Reserve, consumer credit increased at an annual rate of 7.25% in April. Revolving credit is up 11.5%, while non-revolving credit increased at 5.75%.
GovernmentAuctions

Gerber Pocket KnivesGet ready for summer fishing trips with this assorted lot of 30 Gerber knives. These fine-quality knives are not only perfect for knife enthusiasts, but also for collectors. They’re also ideal for buyers who want to flip the knives individually for a profit. These knives come in an assortment of various sizes, colors, types, models, and conditions. They also include both fine and serrated blades. The knives all appear to be in great shape but an inspection of this auction is still strongly encouraged prior to bidding. The current asking price for this bulk auction is just $137 with 3 online bids already placed and just 2 days, 20 hours, and 36 minutes remaining. To find out more about this deal, simplyactivating your free trial now.