Showing posts with label World. Show all posts
Showing posts with label World. Show all posts

Community college grads out-earn bachelor’s degree holders






Berevan Omer graduated on a Friday in February with an associate’s degree from Nashville State Community College and started work the following Monday as a computer-networking engineer at a local television station, making about $ 50,000 a year.


That’s 15% higher than the average starting salary for graduates — not only from community colleges, but for bachelor’s degree holders from four-year universities.






“I have a buddy who got a four-year bachelor’s degree in accounting who’s making $ 10 an hour,” Omer says. “I’m making two and a-half times more than he is.”


Omer, who is 24, is one of many newly minted graduates of community colleges defying history and stereotypes by proving that a bachelor’s degree is not, as widely believed, the only ticket to a middle-class income.


Nearly 30% of Americans with associate’s degrees now make more than those with bachelor’s degrees, according to Georgetown University’s Center on Education and the Workforce. In fact, other recent research in several states shows that, on average, community college graduates right out of school make more than graduates of four-year universities.


The average wage for graduates of community colleges in Tennessee, for instance, is $ 38,948 — more than $ 1,300 higher than the average salaries for graduates of the state’s four-year institutions.


In Virginia, recent graduates of occupational and technical degree programs at its community colleges make an average of $ 40,000. That’s almost $ 2,500 more than recent bachelor’s degree recipients.


“There is that perception that the bachelor’s degree is the default, and, quite frankly, before we started this work showing the value of a technical associate’s degree, I would have said that, too,” says Mark Schneider, vice president of the American Institutes for Research, which helped collect the earning numbers for some states.


And while by mid-career, many bachelor’s degree recipients have caught up in earnings to community college grads, “the other factor that has to be taken into account is that getting a four-year degree can be much more expensive than getting a two-year degree,” Schneider says.


A two-year community college degree, at present full rates, costs about $ 6,262, according to the College Board. A bachelor’s degree from a four-year, private residential university goes for $ 158,072.


The increase in wages for community college grads is being driven by a high demand for people with so-called “middle-skills” that often require no more than an associate’s degree, such as lab technicians, teachers in early childhood programs, computer engineers, draftsmen, radiation therapists, paralegals, and machinists.


With a two-year community college degree, air traffic controllers can make $ 113,547, radiation therapists $ 76,627, dental hygienists $ 70,408, nuclear medicine technologists $ 69,638, nuclear technicians $ 68,037, registered nurses $ 65,853, and fashion designers $ 63,170, CareerBuilder.com reported in January.


“You come out with skills that people want immediately and not just theory,” Omer says.


The Georgetown center estimates that 29 million jobs paying middle class wages today require only an associate’s, and not a bachelor’s, degree.


“I would not suggest anyone look down their nose at the associate’s degree,” says Jeff Strohl, director of research at the Georgetown center.


“People see those programs as tracking into something that’s dead end,” Strohl says. “It’s very clear that that perception does not hold up.”


The bad news is that not enough associate’s degree holders are being produced.


Only 10% of American workers have the sub-baccalaureate degrees needed for middle-skills jobs, compared with 24% of Canadians and 19% of Japanese, the Organization for Economic Cooperation and Development reports.


Over the last 20 years, the number of graduates with associate’s degrees in the United States has increased by barely 3%. And while the Obama administration has pushed community colleges to increase their numbers, enrollment at these schools fell 3.1% this year, the National Student Clearinghouse Research Center reports. Graduation rates also remain abysmally low.


Meanwhile, many people with bachelor’s degrees are working in fields other than the ones in which they majored, according to a new report by the Center for College Affordability and Productivity.


“We have a lot of bartenders and taxi drivers with bachelor’s degrees,” says Christopher Denhart, one of the report’s coauthors.


Still, the salary advantage for associate’s degree holders narrows over time, as bachelor’s degree recipients eventually catch up, says Schneider.


Although these figures vary widely by profession, associate’s degree recipients, on average, end up making about $ 500,000 more over their careers than people with only high school diplomas, but $ 500,000 less than people with bachelor’s degrees, the Georgetown center calculates.


As for Omer, he’s already working toward a bachelor’s degree.


“Down the road a little further, I may want to become a director or a manager,” he says. “A bachelor’s degree will get me to that point.”


This story was produced by The Hechinger Report, a nonprofit, nonpartisan education-news outlet based at Teachers College, Columbia University. It’s one of a series of reports about workforce development and higher education.


View this article on CNNMoney


More From CNNMoney.com


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With record highs in sight, stocks face roadblocks

NEW YORK (Reuters) - If Wall Street needs to climb a wall of worry, it will have plenty of opportunity next week.


Major U.S. stock indexes will make another attempt at reaching all-time records, but the fitful pace that has dominated trading is likely to continue. Next Friday's unemployment report and the hefty spending cuts that look like they about to take effect will be at the forefront.


The importance of whether equities can reach and sustain those highs is more than Wall Street's usual fixation on numbers with psychological significance. Breaking through to uncharted territory is seen as a test of investors' faith in the rally.


"It's very significant," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.


"The thinking is, there's just not enough there for an extended bull run," he said. "If we do break through (record highs), then maybe the charts and price action are telling us there's something better ahead."


Flare-ups in the euro zone's sovereign debt crisis and next Friday's report on the U.S. labor market could jostle the market, though U.S. job indicators have generally been trending in a positive direction.


Small- and mid-cap stocks hit lifetime highs in February. Now the Dow Jones industrial average <.dji> and the S&P 500 <.spx> are racing each other to the top. The Dow, made up of 30 stocks, is about 75 points - less than 1 percent - away from its record close of 14,164.53, which it hit on October 9, 2007. The broader S&P is still 3 percent away from its closing high of 1,565.15, also reached on October 9, 2007.


The advantage may be in the Dow's court. So far in 2013, it has gained 7.5 percent, beating the S&P 500 by about 1 percent.


THE RALLY AND THE REALITY CHECK


The Dow's relative strength owes much to its unique make-up and calculation, as well as to investors' recent preference for buying value stocks likely to generate steady reliable gains, rather than growth stocks.


But the more defensive stance illustrates how stock buyers are getting concerned about this year's rally. While investors don't want to miss out on gains, they're picking up companies that are less likely to decline as much as high-flying names - if a market correction comes.


The Russell Value Index <.rav> is up 7.6 percent for the year so far, outpacing the Russell Growth Index's <.rag> 5.7 percent rise. Within the realm of the S&P 500, the consumer staples sector led the market in February, gaining 3.1 percent.


There is some concern that growth-oriented names are being eclipsed by defensive bets, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.


"This isn't a be-all and end-all sell signal by any means, but we would feel much more comfortable if some of the more aggressive areas, like technology and small caps, would start to gain some leadership here," Detrick said.


Signs that investors are becoming concerned about the rally's pace is evident in the options market, where the ratio of put activity to call activity has recently shifted in favor of puts, which represent expectations for a stock to fall.


"We are seeing some put hedging in the financials, building up for the past month," said Henry Schwartz, president of options analytics firm Trade Alert in New York.


The put-to-call ratio representing an aggregate of about 562 financial stocks is 1:1, when normally, calls should be outnumbering puts.


Investors have no shortage of reasons to crave the relative safety of blue chips and defensive stocks. Although markets have mostly looked past uncertainty over Washington's plans to cut the deficit, fiscal policy negotiations still pose a risk to equities.


The $85 billion in spending cuts set to begin on Friday is expected to slow economic growth this year if policymakers do not reach a new deal. Markets so far have held firm despite the wrangling in Washington, but tangible economic effects could pinch stock prices going forward.


The International Monetary Fund warned that full implementation of the cuts would probably take at least 0.5 percentage point off U.S. growth this year.


EASY MONEY AND TEPID HIRING


Investors will also take in a round of economic data at a time when concerns are percolating that the market is being pushed up less by fundamentals and more by loose monetary policy around the world.


The main economic event will be Friday's non-farm payrolls report for February. The U.S. economy is expected to have added 160,000 jobs last month, only a tad higher than in January, in a sign the labor market is healing at a slow pace. The U.S. unemployment rate is forecast to hold steady at 7.9 percent.


While lackluster data has been a catalyst in the past for stock market gains as investors bet it would ensure continued stimulus from the Federal Reserve, that sentiment may be wearing thin.


Markets stumbled last week following worries that the Fed might wind down its quantitative easing program sooner than expected.


"It shows the underpinning of the market is being driven at this point by monetary policy," Hellwig said.


With investors questioning what is behind the rally, it will make a run to record highs even more significant, Hellwig added.


"There's smart people that are in the bull camp and the bear camp and the muddle-through camp," Hellwig said. "The fact that you can statistically, using historical evidence, make a case for going higher, lower, or staying the same makes this number very important this time around."


(Wall St Week Ahead runs every Friday. Comments or questions on this column can be emailed to: leah.schnurr(at)thomsonreuters.com)


(Reporting by Leah Schnurr; Additional reporting by Doris Frankel in Chicago; Editing by Jan Paschal)



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Community college grads out-earn bachelor’s degree holders






Berevan Omer graduated on a Friday in February with an associate’s degree from Nashville State Community College and started work the following Monday as a computer-networking engineer at a local television station, making about $ 50,000 a year.


That’s 15% higher than the average starting salary for graduates — not only from community colleges, but for bachelor’s degree holders from four-year universities.






“I have a buddy who got a four-year bachelor’s degree in accounting who’s making $ 10 an hour,” Omer says. “I’m making two and a-half times more than he is.”


Omer, who is 24, is one of many newly minted graduates of community colleges defying history and stereotypes by proving that a bachelor’s degree is not, as widely believed, the only ticket to a middle-class income.


Nearly 30% of Americans with associate’s degrees now make more than those with bachelor’s degrees, according to Georgetown University’s Center on Education and the Workforce. In fact, other recent research in several states shows that, on average, community college graduates right out of school make more than graduates of four-year universities.


The average wage for graduates of community colleges in Tennessee, for instance, is $ 38,948 — more than $ 1,300 higher than the average salaries for graduates of the state’s four-year institutions.


In Virginia, recent graduates of occupational and technical degree programs at its community colleges make an average of $ 40,000. That’s almost $ 2,500 more than recent bachelor’s degree recipients.


“There is that perception that the bachelor’s degree is the default, and, quite frankly, before we started this work showing the value of a technical associate’s degree, I would have said that, too,” says Mark Schneider, vice president of the American Institutes for Research, which helped collect the earning numbers for some states.


And while by mid-career, many bachelor’s degree recipients have caught up in earnings to community college grads, “the other factor that has to be taken into account is that getting a four-year degree can be much more expensive than getting a two-year degree,” Schneider says.


A two-year community college degree, at present full rates, costs about $ 6,262, according to the College Board. A bachelor’s degree from a four-year, private residential university goes for $ 158,072.


The increase in wages for community college grads is being driven by a high demand for people with so-called “middle-skills” that often require no more than an associate’s degree, such as lab technicians, teachers in early childhood programs, computer engineers, draftsmen, radiation therapists, paralegals, and machinists.


With a two-year community college degree, air traffic controllers can make $ 113,547, radiation therapists $ 76,627, dental hygienists $ 70,408, nuclear medicine technologists $ 69,638, nuclear technicians $ 68,037, registered nurses $ 65,853, and fashion designers $ 63,170, CareerBuilder.com reported in January.


“You come out with skills that people want immediately and not just theory,” Omer says.


The Georgetown center estimates that 29 million jobs paying middle class wages today require only an associate’s, and not a bachelor’s, degree.


“I would not suggest anyone look down their nose at the associate’s degree,” says Jeff Strohl, director of research at the Georgetown center.


“People see those programs as tracking into something that’s dead end,” Strohl says. “It’s very clear that that perception does not hold up.”


The bad news is that not enough associate’s degree holders are being produced.


Only 10% of American workers have the sub-baccalaureate degrees needed for middle-skills jobs, compared with 24% of Canadians and 19% of Japanese, the Organization for Economic Cooperation and Development reports.


Over the last 20 years, the number of graduates with associate’s degrees in the United States has increased by barely 3%. And while the Obama administration has pushed community colleges to increase their numbers, enrollment at these schools fell 3.1% this year, the National Student Clearinghouse Research Center reports. Graduation rates also remain abysmally low.


Meanwhile, many people with bachelor’s degrees are working in fields other than the ones in which they majored, according to a new report by the Center for College Affordability and Productivity.


“We have a lot of bartenders and taxi drivers with bachelor’s degrees,” says Christopher Denhart, one of the report’s coauthors.


Still, the salary advantage for associate’s degree holders narrows over time, as bachelor’s degree recipients eventually catch up, says Schneider.


Although these figures vary widely by profession, associate’s degree recipients, on average, end up making about $ 500,000 more over their careers than people with only high school diplomas, but $ 500,000 less than people with bachelor’s degrees, the Georgetown center calculates.


As for Omer, he’s already working toward a bachelor’s degree.


“Down the road a little further, I may want to become a director or a manager,” he says. “A bachelor’s degree will get me to that point.”


This story was produced by The Hechinger Report, a nonprofit, nonpartisan education-news outlet based at Teachers College, Columbia University. It’s one of a series of reports about workforce development and higher education.


View this article on CNNMoney


More From CNNMoney.com


Yahoo! Finance – Personal Finance





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Strong data lifts Wall Street, trumps sequester fears

NEW YORK (Reuters) - Stocks edged higher on Friday as strong economic figures more than offset growth concerns out of China and Europe and as investors shrugged off expected across-the-board U.S. goverment spending cuts.


Stocks opened sharply lower as Asian factories slowed and European output fell, but most of the losses disappeared after a report showed U.S. manufacturing activity expanded last month at its fastest clip in 20 months.


U.S. consumer confidence also rose in February as Americans turned more optimistic about the job market.


With government budget cuts set to begin on Friday, President Barack Obama blamed Republicans for failure to reach a compromise to avert the cuts, known as sequester. Investors, who have had plenty of time to prepare, appeared not too worried about the immediate impact.


"Despite the headlines, the drama and the finger pointing, the U.S. economy can still expand and as long as you see expansion, (equity) markets can go higher," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


Krosby said the market was also looking ahead to next week's government payrolls report. A stronger jobs market points to stronger consumer spending, an important component for economic growth. Separately, a government report on Friday said consumer spending rose in January as Americans spent more on services.


The Dow Jones industrial average <.dji> rose 38.09 points or 0.27 percent, to 14,092.58, the S&P 500 <.spx> gained 3.4 points or 0.22 percent, to 1,518.08 and the Nasdaq Composite <.ixic> added 7.68 points or 0.24 percent, to 3,167.87.


For the week so far, the Dow is up 0.7 percent while the Nasdaq and S&P are up 0.2 percent.


Equities continue to attract investors in an environment of low interest rates due to an accommodative monetary policy. The Dow is less than 1 percent away from its all-time intraday high of 14,198.10. Declines have been shallow and short-lived, with investors jumping in to buy on dips.


Intuitive Surgical jumped 8.3 percent to $552.18 after Cantor Fitzgerald analyst Jeremy Feffer upgraded the stock, saying the more than 11 percent slide in the stock on Thursday was a gross overreaction to a news report.


Groupon Inc surged 9 percent to $4.94 a day after the online coupon company fired its chief executive officer in the wake of weak quarterly results.


Gap Inc rose 2.7 percent to $33.81 after reporting fourth-quarter earnings that beat expectations and boosting its dividend by 20 percent, while Salesforce.com Inc posted sales that beat forecasts, sending shares up 7.2 percent to $181.41.


Chesapeake Energy Corp fell 1.7 percent to $19.81 after the U.S. Securities and Exchange Commission escalated its investigation into the company and its Chief Executive Aubrey McClendon for a controversial perk that granted him a share in each of the natural gas producer's wells.


(Reporting by Rodrigo Campos; Editing by Kenneth Barry)



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Community college grads out-earn bachelor’s degree holders






Berevan Omer graduated on a Friday in February with an associate’s degree from Nashville State Community College and started work the following Monday as a computer-networking engineer at a local television station, making about $ 50,000 a year.


That’s 15% higher than the average starting salary for graduates — not only from community colleges, but for bachelor’s degree holders from four-year universities.






“I have a buddy who got a four-year bachelor’s degree in accounting who’s making $ 10 an hour,” Omer says. “I’m making two and a-half times more than he is.”


Omer, who is 24, is one of many newly minted graduates of community colleges defying history and stereotypes by proving that a bachelor’s degree is not, as widely believed, the only ticket to a middle-class income.


Nearly 30% of Americans with associate’s degrees now make more than those with bachelor’s degrees, according to Georgetown University’s Center on Education and the Workforce. In fact, other recent research in several states shows that, on average, community college graduates right out of school make more than graduates of four-year universities.


The average wage for graduates of community colleges in Tennessee, for instance, is $ 38,948 — more than $ 1,300 higher than the average salaries for graduates of the state’s four-year institutions.


In Virginia, recent graduates of occupational and technical degree programs at its community colleges make an average of $ 40,000. That’s almost $ 2,500 more than recent bachelor’s degree recipients.


“There is that perception that the bachelor’s degree is the default, and, quite frankly, before we started this work showing the value of a technical associate’s degree, I would have said that, too,” says Mark Schneider, vice president of the American Institutes for Research, which helped collect the earning numbers for some states.


And while by mid-career, many bachelor’s degree recipients have caught up in earnings to community college grads, “the other factor that has to be taken into account is that getting a four-year degree can be much more expensive than getting a two-year degree,” Schneider says.


A two-year community college degree, at present full rates, costs about $ 6,262, according to the College Board. A bachelor’s degree from a four-year, private residential university goes for $ 158,072.


The increase in wages for community college grads is being driven by a high demand for people with so-called “middle-skills” that often require no more than an associate’s degree, such as lab technicians, teachers in early childhood programs, computer engineers, draftsmen, radiation therapists, paralegals, and machinists.


With a two-year community college degree, air traffic controllers can make $ 113,547, radiation therapists $ 76,627, dental hygienists $ 70,408, nuclear medicine technologists $ 69,638, nuclear technicians $ 68,037, registered nurses $ 65,853, and fashion designers $ 63,170, CareerBuilder.com reported in January.


“You come out with skills that people want immediately and not just theory,” Omer says.


The Georgetown center estimates that 29 million jobs paying middle class wages today require only an associate’s, and not a bachelor’s, degree.


“I would not suggest anyone look down their nose at the associate’s degree,” says Jeff Strohl, director of research at the Georgetown center.


“People see those programs as tracking into something that’s dead end,” Strohl says. “It’s very clear that that perception does not hold up.”


The bad news is that not enough associate’s degree holders are being produced.


Only 10% of American workers have the sub-baccalaureate degrees needed for middle-skills jobs, compared with 24% of Canadians and 19% of Japanese, the Organization for Economic Cooperation and Development reports.


Over the last 20 years, the number of graduates with associate’s degrees in the United States has increased by barely 3%. And while the Obama administration has pushed community colleges to increase their numbers, enrollment at these schools fell 3.1% this year, the National Student Clearinghouse Research Center reports. Graduation rates also remain abysmally low.


Meanwhile, many people with bachelor’s degrees are working in fields other than the ones in which they majored, according to a new report by the Center for College Affordability and Productivity.


“We have a lot of bartenders and taxi drivers with bachelor’s degrees,” says Christopher Denhart, one of the report’s coauthors.


Still, the salary advantage for associate’s degree holders narrows over time, as bachelor’s degree recipients eventually catch up, says Schneider.


Although these figures vary widely by profession, associate’s degree recipients, on average, end up making about $ 500,000 more over their careers than people with only high school diplomas, but $ 500,000 less than people with bachelor’s degrees, the Georgetown center calculates.


As for Omer, he’s already working toward a bachelor’s degree.


“Down the road a little further, I may want to become a director or a manager,” he says. “A bachelor’s degree will get me to that point.”


This story was produced by The Hechinger Report, a nonprofit, nonpartisan education-news outlet based at Teachers College, Columbia University. It’s one of a series of reports about workforce development and higher education.


View this article on CNNMoney


More From CNNMoney.com


Yahoo! Finance – Personal Finance





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Wall Street drifts after two-day run, Dow record in sight

NEW YORK (Reuters) - U.S. stocks edged higher on Thursday with investors hard-pressed to lift indexes to multi-year highs despite strong economic data.


The U.S. economy ticked up in the fourth quarter, reversing an earlier estimate showing contraction, and a drop in new claims for unemployment benefits last week added to a string of data that suggests the economy improved early this year.


Still, the positive revision to GDP data was expected and the claims continue a trend that is baked into prices. The market lacks catalysts as it digests its recent move higher, according to Kevin Caron, market strategist at Stifel, Nicolaus & Co in Florham Park, New Jersey, where he helps oversee $120 billion in assets under management.


"That's why I think you're seeing a fairly listless trading environment today," Caron said.


The Dow was within striking distance of a record high after a more than 7 percent year-to-date run. The Dow transports index <.djt>, seen as a bet on future growth, is up almost 13 percent this year and hit a record intraday high Thursday before turning slightly negative.


The Dow Jones industrial average <.dji> rose 14.79 points or 0.11 percent, to 14,090.16, the S&P 500 <.spx> gained 3.12 points or 0.21 percent, to 1,519.11 and the Nasdaq Composite <.ixic> added 9.13 points or 0.29 percent, to 3,171.39.


The Dow's intraday record, set October 11, 2007, stands at 14,198.10.


The S&P 500 has gained more than 2 percent in the past three sessions.


Equity markets suffered steep losses earlier in the week on concerns over the impact of an Italian election on the European economy, but bounced back on strong data and recent comments by Federal Reserve Chairman Ben Bernanke that showed continued support for the Fed's economic stimulus policy.


J.C. Penney Co Inc slumped 17.9 percent to $17.38 after the department store reported a steep drop in sales on Wednesday. Groupon Inc also slumped on weak revenue, with the stock off 20 percent at $4.76.


Cablevision shares tumbled nearly 10 percent after the cable provider took a $100 million hit on costs related to Superstorm Sandy and posted deeper video customer losses than expected.


Mylan Inc shares were on track to close at their highest ever after the generic drugmaker posted a 25 percent rise in fourth-quarter profit and said it will buy a unit of India's Strides Arcolab Ltd. Shares were last up 3.8 percent at $29.66.


Investors were keeping an eye on the debate in Washington over U.S. government budget cuts that will take effect starting Friday if lawmakers fail to reach agreement on spending and taxes. President Barack Obama and Republican congressional leaders arranged last-ditch talks to prevent the cuts, but expectations were low that any deal would emerge.


With 93 percent of the S&P 500 companies having reported results so far, 69.5 percent have beaten profit expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6.2 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Reporting by Rodrigo Campos, additional reporting by Ryan Vlastelica; Editing by Nick Zieminski)



Read More..

Community college grads out-earn bachelor’s degree holders






Berevan Omer graduated on a Friday in February with an associate’s degree from Nashville State Community College and started work the following Monday as a computer-networking engineer at a local television station, making about $ 50,000 a year.


That’s 15% higher than the average starting salary for graduates — not only from community colleges, but for bachelor’s degree holders from four-year universities.






“I have a buddy who got a four-year bachelor’s degree in accounting who’s making $ 10 an hour,” Omer says. “I’m making two and a-half times more than he is.”


Omer, who is 24, is one of many newly minted graduates of community colleges defying history and stereotypes by proving that a bachelor’s degree is not, as widely believed, the only ticket to a middle-class income.


Nearly 30% of Americans with associate’s degrees now make more than those with bachelor’s degrees, according to Georgetown University’s Center on Education and the Workforce. In fact, other recent research in several states shows that, on average, community college graduates right out of school make more than graduates of four-year universities.


The average wage for graduates of community colleges in Tennessee, for instance, is $ 38,948 — more than $ 1,300 higher than the average salaries for graduates of the state’s four-year institutions.


In Virginia, recent graduates of occupational and technical degree programs at its community colleges make an average of $ 40,000. That’s almost $ 2,500 more than recent bachelor’s degree recipients.


“There is that perception that the bachelor’s degree is the default, and, quite frankly, before we started this work showing the value of a technical associate’s degree, I would have said that, too,” says Mark Schneider, vice president of the American Institutes for Research, which helped collect the earning numbers for some states.


And while by mid-career, many bachelor’s degree recipients have caught up in earnings to community college grads, “the other factor that has to be taken into account is that getting a four-year degree can be much more expensive than getting a two-year degree,” Schneider says.


A two-year community college degree, at present full rates, costs about $ 6,262, according to the College Board. A bachelor’s degree from a four-year, private residential university goes for $ 158,072.


The increase in wages for community college grads is being driven by a high demand for people with so-called “middle-skills” that often require no more than an associate’s degree, such as lab technicians, teachers in early childhood programs, computer engineers, draftsmen, radiation therapists, paralegals, and machinists.


With a two-year community college degree, air traffic controllers can make $ 113,547, radiation therapists $ 76,627, dental hygienists $ 70,408, nuclear medicine technologists $ 69,638, nuclear technicians $ 68,037, registered nurses $ 65,853, and fashion designers $ 63,170, CareerBuilder.com reported in January.


“You come out with skills that people want immediately and not just theory,” Omer says.


The Georgetown center estimates that 29 million jobs paying middle class wages today require only an associate’s, and not a bachelor’s, degree.


“I would not suggest anyone look down their nose at the associate’s degree,” says Jeff Strohl, director of research at the Georgetown center.


“People see those programs as tracking into something that’s dead end,” Strohl says. “It’s very clear that that perception does not hold up.”


The bad news is that not enough associate’s degree holders are being produced.


Only 10% of American workers have the sub-baccalaureate degrees needed for middle-skills jobs, compared with 24% of Canadians and 19% of Japanese, the Organization for Economic Cooperation and Development reports.


Over the last 20 years, the number of graduates with associate’s degrees in the United States has increased by barely 3%. And while the Obama administration has pushed community colleges to increase their numbers, enrollment at these schools fell 3.1% this year, the National Student Clearinghouse Research Center reports. Graduation rates also remain abysmally low.


Meanwhile, many people with bachelor’s degrees are working in fields other than the ones in which they majored, according to a new report by the Center for College Affordability and Productivity.


“We have a lot of bartenders and taxi drivers with bachelor’s degrees,” says Christopher Denhart, one of the report’s coauthors.


Still, the salary advantage for associate’s degree holders narrows over time, as bachelor’s degree recipients eventually catch up, says Schneider.


Although these figures vary widely by profession, associate’s degree recipients, on average, end up making about $ 500,000 more over their careers than people with only high school diplomas, but $ 500,000 less than people with bachelor’s degrees, the Georgetown center calculates.


As for Omer, he’s already working toward a bachelor’s degree.


“Down the road a little further, I may want to become a director or a manager,” he says. “A bachelor’s degree will get me to that point.”


This story was produced by The Hechinger Report, a nonprofit, nonpartisan education-news outlet based at Teachers College, Columbia University. It’s one of a series of reports about workforce development and higher education.


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Community college grads out-earn bachelor’s degree holders






Berevan Omer graduated on a Friday in February with an associate’s degree from Nashville State Community College and started work the following Monday as a computer-networking engineer at a local television station, making about $ 50,000 a year.


That’s 15% higher than the average starting salary for graduates — not only from community colleges, but for bachelor’s degree holders from four-year universities.






“I have a buddy who got a four-year bachelor’s degree in accounting who’s making $ 10 an hour,” Omer says. “I’m making two and a-half times more than he is.”


Omer, who is 24, is one of many newly minted graduates of community colleges defying history and stereotypes by proving that a bachelor’s degree is not, as widely believed, the only ticket to a middle-class income.


Nearly 30% of Americans with associate’s degrees now make more than those with bachelor’s degrees, according to Georgetown University’s Center on Education and the Workforce. In fact, other recent research in several states shows that, on average, community college graduates right out of school make more than graduates of four-year universities.


The average wage for graduates of community colleges in Tennessee, for instance, is $ 38,948 — more than $ 1,300 higher than the average salaries for graduates of the state’s four-year institutions.


In Virginia, recent graduates of occupational and technical degree programs at its community colleges make an average of $ 40,000. That’s almost $ 2,500 more than recent bachelor’s degree recipients.


“There is that perception that the bachelor’s degree is the default, and, quite frankly, before we started this work showing the value of a technical associate’s degree, I would have said that, too,” says Mark Schneider, vice president of the American Institutes for Research, which helped collect the earning numbers for some states.


And while by mid-career, many bachelor’s degree recipients have caught up in earnings to community college grads, “the other factor that has to be taken into account is that getting a four-year degree can be much more expensive than getting a two-year degree,” Schneider says.


A two-year community college degree, at present full rates, costs about $ 6,262, according to the College Board. A bachelor’s degree from a four-year, private residential university goes for $ 158,072.


The increase in wages for community college grads is being driven by a high demand for people with so-called “middle-skills” that often require no more than an associate’s degree, such as lab technicians, teachers in early childhood programs, computer engineers, draftsmen, radiation therapists, paralegals, and machinists.


With a two-year community college degree, air traffic controllers can make $ 113,547, radiation therapists $ 76,627, dental hygienists $ 70,408, nuclear medicine technologists $ 69,638, nuclear technicians $ 68,037, registered nurses $ 65,853, and fashion designers $ 63,170, CareerBuilder.com reported in January.


“You come out with skills that people want immediately and not just theory,” Omer says.


The Georgetown center estimates that 29 million jobs paying middle class wages today require only an associate’s, and not a bachelor’s, degree.


“I would not suggest anyone look down their nose at the associate’s degree,” says Jeff Strohl, director of research at the Georgetown center.


“People see those programs as tracking into something that’s dead end,” Strohl says. “It’s very clear that that perception does not hold up.”


The bad news is that not enough associate’s degree holders are being produced.


Only 10% of American workers have the sub-baccalaureate degrees needed for middle-skills jobs, compared with 24% of Canadians and 19% of Japanese, the Organization for Economic Cooperation and Development reports.


Over the last 20 years, the number of graduates with associate’s degrees in the United States has increased by barely 3%. And while the Obama administration has pushed community colleges to increase their numbers, enrollment at these schools fell 3.1% this year, the National Student Clearinghouse Research Center reports. Graduation rates also remain abysmally low.


Meanwhile, many people with bachelor’s degrees are working in fields other than the ones in which they majored, according to a new report by the Center for College Affordability and Productivity.


“We have a lot of bartenders and taxi drivers with bachelor’s degrees,” says Christopher Denhart, one of the report’s coauthors.


Still, the salary advantage for associate’s degree holders narrows over time, as bachelor’s degree recipients eventually catch up, says Schneider.


Although these figures vary widely by profession, associate’s degree recipients, on average, end up making about $ 500,000 more over their careers than people with only high school diplomas, but $ 500,000 less than people with bachelor’s degrees, the Georgetown center calculates.


As for Omer, he’s already working toward a bachelor’s degree.


“Down the road a little further, I may want to become a director or a manager,” he says. “A bachelor’s degree will get me to that point.”


This story was produced by The Hechinger Report, a nonprofit, nonpartisan education-news outlet based at Teachers College, Columbia University. It’s one of a series of reports about workforce development and higher education.


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Dow, S&P rise as Bernanke defends policy, warns on cuts

NEW YORK (Reuters) - Stocks mostly rose on Tuesday after Federal Reserve Chairman Ben Bernanke defended the Fed's bond-buying stimulus before Congress, but warned forced spending cuts that could be triggered this week represented a headwind for the economy.


Gains in homebuilders and other consumer stocks, following strong economic data, kept the S&P 500 nearly unchanged, while a 5 percent jump in Home Depot lifted the Dow industrials. The PHLX housing sector index <.hgx> rose 2 percent.


Stocks hit session highs shortly after Bernanke, in testimony before the Senate Banking Committee, strongly defended the Fed's bond-buying stimulus program that has been essential for the stock market's recovery.


However, he also urged lawmakers to avoid sharp spending cuts set to go into effect on Friday, which he warned could combine with earlier tax increases to create a "significant headwind" for the economic recovery.


"He really came down foursquare on the bearish camp with respect to the potential economic impact of these cuts. That's a surprise, and that's probably why the market's a little nervous right now," said Michael Jones, chief investment officer of Riverfront Investment Group in Richmond, Virginia.


The Dow Jones industrial average <.dji> rose 74.64 points or 0.54 percent to 13,858.81. The S&P 500 <.spx> gained 1.78 points or 0.12 percent to 1,489.63. The Nasdaq Composite <.ixic> dropped 5.84 points or 0.19 percent to 3,110.41.


The S&P 500 failed to move above 1,500, a closely watched level that was technical support until recently, but could now become a hurdle.


Cable network AMC Networks was the Nasdaq's biggest percentage decliner after the home of popular shows such as "The Walking Dead" and "Mad Men" reported a quarterly profit way below analysts' estimates. Its stock fell 7.4 percent to $53.77.


Equities continued to be weighed by concerns about a stalemate in Italy after a general election failed to give any party a parliamentary majority, posing the threat of prolonged instability and European financial crisis.


The FTSEurofirst-300 index of top European shares <.fteu3> unofficially closed down 1.3 percent at 1,150.58. The benchmark Italian index <.ftmib> tumbled 4.9 percent.


Dow component Home Depot Inc was the top gainer in both the Dow and the S&P 500 after the world's largest home improvement chain reported adjusted earnings and sales that beat expectations. Home Depot's shares jumped 5.5 percent to $67.46.


Macy's Inc shares climbed 2.8 percent to $39.60 after the department-store chain stated it expects full-year earnings to be above analysts' forecasts because of strong holiday sales.


Economic reports that showed strength in housing and consumer confidence also supported stocks.


U.S. home prices rose more than expected in December, according to the S&P/Case-Shiller index. Consumer confidence rebounded in February, jumping more than expected, and new-home sales rose to their highest in 4-1/2 years.


(Reporting by Rodrigo Campos; Additional reporting by Sam Forgione; Editing by Jan Paschal)



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The Best Tax Breaks for Retirement Savers






The federal government encourages saving for retirement by giving tax breaks to people who save in specific ways. There are several types of tax perks for retirement savers, each with special rules and restrictions. Here are some of the best tax breaks available to people who save for retirement:


401(k). One of the best ways to get a tax deduction while you save for retirement is through a 401(k) or similar type of retirement account, like a 403(b) or the federal government’s thrift savings plan. Employees who are eligible for these workplace retirement accounts can defer income tax on up to $ 17,500 in 2013, $ 500 more than in 2012. And people age 50 and older can delay paying income tax on as much as $ 23,000 in 2013, $ 5,500 more than younger people. Income tax won’t be due on your contributions until you withdraw the money, which you are required to do beginning after age 70 1/2. Traditional 401(k)s generally work best for people who expect to be in a lower tax bracket in retirement than they are now. “You get the employer match and tax-deferred growth, and you get to take it out when your taxes are theoretically going to be lower,” says John Dulmage, a certified financial planner for Financial Pathways in Londonderry, N.H.






[Read: Retirement Tax Deadlines for 2012.]


Roth 401(k). Roth 401(k) contribution limits are the same as those for traditional 401(k)s, but the tax treatment is different. Roth accounts allow you to contribute after-tax dollars, and then withdrawals from the account, including the earnings, are tax-free in retirement. Employers are increasingly offering a Roth option, and even allowing workers to convert some of their existing retirement savings to a Roth by paying income tax on the amount converted. A recent Aon Hewitt survey of 300 large U.S. employers found that about half of these companies already offer a Roth account and 29 percent of those without a Roth option are planning to add this feature in the next 12 months. Roth accounts often produce the biggest rewards for young and low-income retirement savers. “I usually recommend that my clients who are in the 15 percent tax bracket use the Roth as the vehicle,” says Dulmage.


IRA. Workers can defer income tax on up to $ 5,500 by contributing to an IRA in 2013, which jumps to $ 6,500 at age 50 or older. However, the ability to claim this tax deduction is phased out if you have a retirement plan at work and a modified adjusted gross income between $ 59,000 and $ 69,000 in 2013 ($ 95,000 and $ 115,000 for couples). For investors who don’t have a workplace retirement plan but are married to someone who does, the deduction is phased out if the couple’s income is between $ 178,000 and $ 188,000 in 2013. IRAs generally give you more investment options than a 401(k), and savvy investors can seek out lower fees. “If you have a lot of funds in your 401(k) that have high expense ratios of 1 percent or above, then the best bet is to go with the IRA where you can invest in practically anything you want to,” says Kirk Kinder, a certified financial planner for Picket Fence Financial. And while the deadline has already passed to make 401(k) contributions that count for the 2012 tax year, you have until April 15, 2013, to make an IRA contribution that will get you a tax deduction on your 2012 tax bill.


[Read: How to Claim the Retirement Saver's Tax Credit.]


Roth IRA. You can prepay income tax on up to $ 5,500 ($ 6,500 at age 50 or older) in a Roth IRA. The ability to contribute to a Roth IRA is phased out for individuals and heads of household earning between $ 112,000 to $ 127,000 ($ 178,000 to $ 188,000 for couples) in 2013. However, people who earn above these limits may still be able to contribute to a Roth IRA by converting some of their traditional IRA assets to a Roth. Roth accounts give retirees flexibility in retirement because withdrawals are not required during the original account owner’s lifetime. “There are no strings attached to when the money comes out,” says Philip Watson, a certified financial planner for Watson Planning in Franklin, Tenn. “You don’t have to take the money out in your lifetime. You can pass a Roth to your heirs.”


IRA tax-free charitable contributions. Individuals age 70 1/2 and older are generally required to withdraw money from their traditional IRAs and pay income tax on each distribution. But retirees in the fortunate position of not needing the money they have stashed away in their IRA can avoid paying income tax on their required withdrawals by donating up to $ 100,000 of their distributions to charity. To qualify for the tax break, charitable distributions for 2013 must be paid directly from the IRA to a qualified charity by the end of the calendar year.


[Read: Understand Your Rollover Options.]


Saver’s credit. Low- and moderate-income people who save for retirement in a 401(k) or IRA are eligible to claim the saver’s credit, which can be worth up to $ 1,000 for individuals and $ 2,000 for couples. People age 18 and older who are not full-time students or dependents on someone else’s tax return can claim this tax credit until their income exceeds $ 29,500 for singles, $ 44,250 for heads of household, and $ 59,000 for couples in 2013. The credit is calculated based on up to $ 2,000 of retirement account contributions and your income, with the biggest tax credit going to retirement savers with the lowest incomes. For example, a married couple earning $ 30,000 that contributed $ 1,000 to an IRA would get a $ 500 credit. But few people get that much. Among the 6.1 million income tax returns that claimed the saver’s credit in 2010, the credits averaged $ 204 for couples, $ 165 for heads of household, and $ 122 for individuals. There’s still time to claim the saver’s credit on your 2012 tax return. Workers have until April 15, 2013, to make an IRA or Roth IRA contribution that will qualify them for a tax-year 2012 saver’s credit.


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Dow, S&P slip after uncertain Italian election

NEW YORK (Reuters) - U.S. stocks mostly fell on Monday on fears that a divided parliament in Italy would get in the way of the country's reforms and hamper the euro zone's stability.


Election projections showed the center-right coalition led by former prime minister Silvio Berlusconi was leading in the race for the Italian Senate, contradicting initial exit polls and raising the specter of deadlock in parliament.


Earlier polls pointing to a center-left victory lifted stocks in Milan and other European markets on investors' belief that they would continue the path to pay down Italian debt, said Art Hogan, managing director of Lazard Capital Markets in New York.


"What we don't want to hear is a renewed fear about a euro- zone fracture," he said.


Last week, the benchmark S&P 500 closed below its 14-day moving average on Wednesday for the first time this year. At midday, the S&P 500 was trading just below that level, now near 1,515.


The index was, nonetheless, still near highs not seen in five years, as bets on a strong U.S. economy have given equities support. The S&P 500's slight fall last week was the first weekly drop after a seven-week string of gains.


Banks and other financial stocks led Monday's decline on concern about the sector's exposure to Italy's massive debt. The KBW Bank Index <.bkx> fell 0.7 percent.


The Dow Jones industrial average <.dji> slipped 18.58 points or 0.13 percent, to 13,981.99. The Standard & Poor's 500 <.spx> shed 2.30 points or 0.15 percent, to 1,513.30. But the Nasdaq Composite <.ixic> rose 3.03 points or 0.10 percent, to 3,164.85.


Barnes & Noble Inc shares climbed 11.9 percent to $15.12 after the bookseller's chairman offered to buy its declining retail business.


The Nasdaq received support from Amgen Inc , up 4.2 percent at $90.47, after a rival issued a voluntary recall of its only drug, an anemia treatment that competes with Amgen's top-selling red blood cell booster, Epogen.


The FTSEurofirst-300 index of top European shares <.fteu3> unofficially closed up 0.1 percent and Italy's main FTSE MIB <.ftmib> ended up 0.7 percent after earlier gaining near 4 percent.


U.S. equities will face a test with the looming debate over the so-called sequestration, U.S. government budget cuts that will take effect starting on Friday if lawmakers fail to reach an agreement over spending and taxes. The White House issued warnings about the harm the cuts are likely to inflict on the economy if enacted.


With 83 percent of the S&P 500 companies having reported results so far, 69 percent beat profit expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters, according to Thomson Reuters data.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry and Jan Paschal)



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HP Unveils Android Consumer Tablet






BARCELONA, SPAIN–(Marketwire – Feb 24, 2013) – HP ( NYSE : HPQ ) today announced the HP Slate7, an affordable Android Jelly Bean consumer tablet that provides customers with easy access to Google Mobile services.


With a 7-inch diagonal screen and weighing 13 ounces, the HP Slate7 is an ideal trusted personal companion, featuring a stainless-steel frame and soft black paint in gray or red on the back. It also is the industry’s first tablet to offer embedded Beats Audio, for the best-sounding, richest audio experience available on a tablet.






The HP Slate7 delivers the Google experience with services like Google Now, Google Search, Gmail, YouTube, Google Drive and Google+ Hangouts for multiperson video chat as well as access to apps and digital content through Google Play.(1)


“To address the growing interest in tablets among consumers and businesses alike, HP will offer a range of form factors and leverage an array of operating systems,” said Alberto Torres, senior vice president, Mobility Global Business Unit, HP. “Our new HP Slate7 on Android represents a compelling entry point for consumer tablets, while our ground-breaking, business-ready HP ElitePad on Windows® 8 is ideal for enterprises and governments. Both deliver the service and support people expect from HP.”


The HP Slate7 joins the recently introduced HP Chromebook as part of HP’s push to offer access to the Google experience.


HP’s tablet offerings reside in the company’s newly formed Mobility Global Business Unit, established in September 2012 with the hiring of Torres. Torres joined HP from Nokia, where he was executive vice president and oversaw the MeeGo products and platform.


HP Slate7 makes computing easy while on the go
Powered by an ARM Dual Core Cortex-A9 1.6 GHz processor, the HP Slate7 is fast and responsive. Integrated wireless allows customers to access email, the internet and key applications, while the High-aperture-ratio Field Fringe Switching (HFFS) panel offers wide viewing angles that provide easy viewing of documents, games, photos and videos — even in outdoor lighting conditions.


The HP Slate7 includes a 3-megapixel camera on the back and a VGA camera on the front for chatting, videos and photos.


With the HP ePrint (2) application, customers can easily print while at home or on the go, and the exclusive native printing capability enables customers to print directly from most applications. A micro USB port allows customers to easily transfer files, and a suite of applications from HP spans exclusive games to productivity tools.


HP will provide an array of simple and easy-to-access support tools and resources to help customers take full advantage of all of the features the HP Slate7 has to offer. In addition to extensive phone and online support offerings included with the HP Slate7, HP is offering customers the opportunity to add to the standard product limited warranty with its HP Care Pack services. HP Slate7 customers will have the option to protect their investment with a two-year HP Care Pack for $ 29 or a two-year HP Care Pack with Accidental Damage Protection (ADP) for $ 49.(3)


Pricing and availability(3)
The HP Slate7 is expected to be available in the United States in April with a starting price of $ 169.


Additional information about the HP Slate7 is available at www.hp.com/slate and The Next Bench.


About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at http://www.hp.com.


(1) Internet service required and not included.
(2) Requires an internet connection to HP web-enabled printer and HP ePrint account registration. (A list of eligible printers, supported documents and image types and other HP ePrint details is available at www.hp.com/go/eprintcenter.) Mobile devices require internet connection and email capability. May require wireless access point. Separately purchased data plans or usage fees may apply. Print times and connection speeds may vary.
(3) Estimated U.S. street prices. Actual prices may vary.


ARM is a registered trademark of ARM Limited. Microsoft and Windows are U.S. registered trademarks of Microsoft Corporation.


This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance, market share or competitive performance relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP’s businesses; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; assumptions related to pension and other post-retirement costs and retirement programs; the execution, timing and results of restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP’s filings with the Securities and Exchange Commission, including HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2012. HP assumes no obligation and does not intend to update these forward-looking statements.


© 2013 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.


Marketwire News Archive – Yahoo! Finance





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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.


Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.


Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.


"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.


Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.


But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.


National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.


"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


OPTIONS BULLS TARGET GAINS


The spending cuts, if they go ahead, could hit the defense industry particularly hard.


Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.


Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.


"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.


The stock ended up 0.6 percent at $88.12 on Friday.


If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.


General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.


EYES ON GDP DATA, APPLE


The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.


U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.


Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.


Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.


On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.


(Additional reporting by Doris Frankel; Editing by Kenneth Barry)



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Harper Government Lifts Cap on Polio Matching Fund






RICHMOND, BRITISH COLUMBIA–(Marketwire – Feb 23, 2013) – Countless children will be protected from contracting a debilitating disease, thanks to additional support to the ”Pennies and More for Polio matching fund initiative”, augmenting its original commitment. The Honourable Julian Fantino, Minister of International Cooperation, announced today that Canada would not only match contributions of up to $ 1 million, as announced last September, but will match all contributions raised by Rotarians by March 1, 2013, in support of eradicating polio [http://www.acdi-cida.gc.ca/acdi-cida/ACDI-CIDA.nsf/eng/FRA-823113621-LBA] . The Bill & Melinda Gates Foundation [http://www.gatesfoundation.org/Pages/home.aspx] also announced that it will be matching contributions, dollar for dollar.


“Canadian generosity is second to none, as shown by this tremendous initiative, which has not only met, but surpassed its goal,” said Minister Fantino. “The Harper Government is pleased to be a key partner in combating this devastating disease, but money alone cannot eradicate polio. We call on the leadership in those countries still affected to promote science-based information and ensure a safe environment for polio immunization workers.”






Last September, Minister Fantino challenged Canadians to join in this fight [http://www.acdi-cida.gc.ca/acdi-cida/ACDI-CIDA.nsf/eng/NAT-927123859-MJE] by supporting Rotarians in Canada to reach their fundraising goal by March 1, 2013. Under ”Pennies and More for Polio”, Canada and the Bill & Melinda Gates Foundation had each originally agreed to match dollar-for-dollar donations made by Canadians to the Rotary Foundation to a maximum of $ 1 million. With the outstanding achievement of Rotary”s goal well in advance of its March deadline, both have now agreed to match the total amount of funds raised through the initiative, which is expected to reach more than $ 1.6 million, to be provided to the World Health Organization”s Global Polio Eradication Initiative [http://www.polioeradication.org/] .


“Canada”s support has been, and will continue to be, critical in the final push to end polio,” said Dr. Robert Scott, Chair of Rotary”s International Polio Eradication Committee. “We are on the verge of eradicating this deadly disease, and must redouble our efforts to ensure that the goal is reached.”


In October 2011, Prime Minister Harper reaffirmed Canada”s support for the Global Polio Eradication Initiative, which builds on CIDA”s ongoing commitment to improve the health of mothers, newborns, and children.


“We have a unique window of opportunity to change history and end polio thanks to tremendous advances in 2012,” said Chris Elias, President of the Global Development Program at the Bill & Melinda Gates Foundation. “This innovative program is another example of Canada”s and Rotarians” long-time commitment and leadership to ensuring children are forever protected from this debilitating, but preventable, disease.”


Since 1988, Canada and its partners have supported the immunization of hundreds of millions of children, which has led to the eradication of the polio virus from almost every country on earth, and continue to put an end to this disease in the few vulnerable pockets where it remains.


BACKGROUNDER


February 23, 2013


PENNIES AND MORE FOR POLIO INITIATIVE


The Government of Canada, through the Canadian International Development Agency (CIDA), will match all contributions raised by Rotarians in Canada by March 1, 2013 for the Pennies and More for Polio initiative.


At the 67th annual United Nations General Assembly in September 2012, Canada”s Minister of International Cooperation Julian Fantino, together with Rotarians in Canada and the Bill & Melinda Gates Foundation, announced a joint undertaking called ”Pennies and More for Polio”.


CIDA and the Bill & Melinda Gates Foundation originally agreed to match dollar for dollar donations by Canadians to the Rotary Foundation, to a maximum of $ 1 million each, up until March 1, 2013.


To date, Rotarians in Canada have exceeded this fundraising goal, having raised over $ 1.6 million. Canada and the Bill & Melinda Gates Foundation will now match the total amount of funds raised through the initiative. This will mean every dollar raised by Rotarians in Canada until the March deadline will be leveraging an additional $ 2 towards polio eradication. Funds will be provided directly to the World Health Organization”s Global Polio Eradication Initiative (GPEI).


The Global Polio Eradication Initiative is a public-private partnership whose goal is to eradicate polio worldwide. The GPEI was launched in 1988 by national governments, the World Health Organization, Rotary International, the U.S. Centers for Disease Control and Prevention, and UNICEF.


The additional resources announced today for the Global Polio Eradication Initiative will contribute to a reduction in polio cases and build on Canada”s ongoing commitment to improve maternal, newborn, and child health. Canada”s support for polio eradication is based on the Muskoka Initiative, which aims to reduce maternal mortality and childhood morbidity.


Since 2000, Canada has supported polio-eradication efforts by working with partners to immunize millions of children and help eradicate polio in the remaining polio-endemic countries: Pakistan, Afghanistan, and Nigeria.


For more information on the Government of Canada”s support for polio eradication, please visit CIDA”s website.


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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large.


Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling.


Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect.


"It's at this point a political hot button in Washington but a very low level investor concern," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. The fight pits President Barack Obama and fellow Democrats against congressional Republicans.


Stocks rallied in early January after a compromise temporarily avoided the fiscal cliff, and the Standard & Poor's 500 index <.spx> has risen 6.3 percent since the start of the year.


But the benchmark index lost steam this week, posting its first week of losses since the start of the year. Minutes on Wednesday from the last Federal Reserve meeting, which suggested the central bank may slow or stop its stimulus policy sooner than expected, provided the catalyst.


National elections in Italy on Sunday and Monday could also add to investor concern. Most investors expect a government headed by Pier Luigi Bersani to win and continue with reforms to tackle Italy's debt problems. However, a resurgence by former leader Silvio Berlusconi has raised doubts.


"Europe has been in the last six months less of a topic for the stock market, but the problems haven't gone away. This may bring back investor attention to that," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.


OPTIONS BULLS TARGET GAINS


The spending cuts, if they go ahead, could hit the defense industry particularly hard.


Yet in the options market, bulls were targeting gains in Lockheed Martin Corp , the Pentagon's biggest supplier.


Calls on the stock far outpaced puts, suggesting that many investors anticipate the stock to move higher. Overall options volume on the stock was 2.8 times the daily average with 17,000 calls and 3,360 puts traded, according to options analytics firm Trade Alert.


"The upside call buying in Lockheed solidifies the idea that option investors are not pricing in a lot of downside risk in most defense stocks from the likely impact of sequestration," said Jared Woodard, a founder of research and advisory firm condoroptions.com in Forest, Virginia.


The stock ended up 0.6 percent at $88.12 on Friday.


If lawmakers fail to reach an agreement on reducing the U.S. budget deficit in the next few days, a sequester would include significant cuts in defense spending. Companies such as General Dynamics Corp and Smith & Wesson Holding Corp could be affected.


General Dynamics Corp shares rose 1.2 percent to $67.32 and Smith & Wesson added 4.6 percent to $9.18 on Friday.


EYES ON GDP DATA, APPLE


The latest data on fourth-quarter U.S. gross domestic product is expected on Thursday, and some analysts predict an upward revision following trade data that showed America's deficit shrank in December to its narrowest in nearly three years.


U.S. GDP unexpectedly contracted in the fourth quarter, according to an earlier government estimate, but analysts said there was no reason for panic, given that consumer spending and business investment picked up.


Investors will be looking for any hints of changes in the Fed's policy of monetary easing when Fed Chairman Ben Bernake speaks before congressional committees on Tuesday and Wednesday.


Shares of Apple will be watched closely next week when the company's annual stockholders' meeting is held.


On Friday, a U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with the iPhone maker, blocking the company from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock.


(Additional reporting by Doris Frankel; Editing by Kenneth Barry)



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UPDATE: IC Potash Expands Polyhalite Ochoa Project in Lea County, New Mexico






TORONTO–(Marketwire – Feb 22, 2013) – IC Potash Corp. (“ICP” or the “Company”) ( TSX : ICP ) ( OTCQX : ICPTF ) today announced that in support of its 100%-owned Polyhalite Ochoa Project in southeastern New Mexico, the Company has secured an additional 1,914 acres of land in Lea County from the New Mexico State Land Office, increasing its total State lease and federal permit holdings in the region to approximately 101,500 acres spanning 158.6 square miles. 


Commenting on the lease deal, New Mexico Commissioner of Public Lands Ray Powell stated, “This new agreement brings ICP’s State lease holdings to nearly 28,000 acres and will generate for the State Land Office up to $ 8 million or more, depending on product pricing, in leasing fees and royalties each year once ICP is in production at its planned Sulphate of Potash mine and processing facility. We are very pleased to count ICP among our valued business partners and look forward to putting these fees to work to benefit education in New Mexico and, in turn, help keep our taxpayer bills low.”






Over 13 million acres of land granted to New Mexico in 1898 and 1910 are held in trust for the State’s public schools and universities, as well as special schools and hospitals that serve children with physical, visual and auditory disabilities. In fiscal year 2012, the trust lands and permanent funds, administered by Commissioner Powell, produced a record amount of revenue, totaling more than $ 650 million in income for the beneficiaries. 


ICP’s Ochoa Project is located in the Pecos Valley section of the southern Great Plains physiographic province, approximately 60 miles east of Carlsbad, New Mexico, and less than 20 miles west of the Texas-New Mexico state line. The overall project development plan provides for completion of the Feasibility Study by the end of August 2013, final environmental permitting by the end of March 2014 and the commencement of construction of the mine and processing facility shortly thereafter. With over 100 full time employees and consultants currently engaged in the Project, it is expected that up to 1,000 new construction jobs, at peak construction activity, will be created; and approximately 400 additional new permanent employees will be hired to support commercial operations once construction is completed.


Sidney Himmel, President and CEO of IC Potash, added, “Based on findings of our original drilling program, the additional land granted by the State has been determined to be strategically important for our Ochoa Project, as it holds prospective mineralization that could expand Ochoa’s already significant resource base of Polyhalite. In addition, this new lease also covers land located approximately 1,500 feet from the planned mine shaft and ramp bottom (the location of which was designated by the Bureau of Land Management after the initial State leases were granted), making it available for mining in the early production phase of the near century-long mine life. We greatly appreciate the enthusiasm for our project and the tremendous support we continue to receive from the great State of New Mexico.”


About IC Potash Corp.
ICP intends to become a primary producer of Sulphate of Potash (“SOP”) and Sulphate of Potash Magnesia (“SOPM”) by mining its 100%-owned Polyhalite Ochoa property in southeast New Mexico, a highly advanced mineral deposit containing proven and probable reserves of more than 340 million tons of ore within the proposed mine plan. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of regular potash known as Muriate of Potash (“MOP”). MOP contains chloride and is therefore not the optimal potash for numerous crops and in situations where there is high soil salinity. ICP is focused on becoming the lowest cost producer of SOP in the world, a market that is towards six million tonnes per year. SOP is a significant fertilizer in horticultural industries, particularly fruits, vegetables, tobacco and potatoes. SOP is applicable for soils where there is substantial agricultural activity, high soil salinity, and in arid regions. SOPM is a highly desirable potash product for soils with magnesium deficiency, and has a total global market size of over one million tonnes. ICP’s Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases. For more information, please visit www.icpotash.com.


Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.


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HP lifts Wall Street, S&P on pace for first weekly loss of year

NEW YORK (Reuters) - Stocks rose on Friday, rebounding off two days of losses as Dow component Hewlett-Packard surged on strong results, but the S&P 500 was on track to end a seven-week-long streak of gains.


The S&P shed 1.9 percent over the previous two sessions, its worst two-day drop since early November, putting the index on pace for its first weekly decline of the year. The retreat was triggered when the Federal Reserve's meeting minutes for January suggested stimulus measures may be halted sooner than thought.


Still, the index is up nearly 6 percent for the year and held the 1,500 support level despite the recent declines, a sign of a positive bias in the market.


"The market is addicted to Fed stimulus and gets withdrawal shakes every time that's threatened, but now we're resuming our course and remain much more attractively valued than other asset classes," said Rex Macey, chief investment officer at Wilmington Trust in Atlanta, Georgia.


Hewlett-Packard Co jumped 9.6 percent to $18.74 as the top boost on both the Dow and S&P 500 after the PC maker's quarterly revenue and forecasts beat expectations. The company cut costs under Chief Executive Meg Whitman's turnaround plan. The S&P technology sector <.splrct> was up 0.8 percent.


The Dow Jones industrial average <.dji> was up 69.41 points, or 0.50 percent, at 13,950.03. The Standard & Poor's 500 Index <.spx> was up 7.74 points, or 0.52 percent, at 1,510.16. The Nasdaq Composite Index <.ixic> was up 18.26 points, or 0.58 percent, at 3,149.75.


For the week, the Dow is off 0.2 percent in its third straight week of slight losses, the S&P is off 0.6 percent and the Nasdaq is off 1.3 percent.


Also buoying tech stocks were gains in semiconductor companies after Marvell Technology Group Ltd forecast results this quarter that were largely above analysts' expectations. Marvell gained market share in the hard-disk drive and flash-storage businesses. The stock rose 2.5 percent to $9.71.


In addition, Texas Instruments Inc raised its dividend by a third and boosted its stock buyback program, lifting shares 5.1 percent to $34.16 while the PHLX semiconductor index <.sox> gained 1.8 percent.


"Dividends growing are another way the market's level is justified, if not especially attractive at these levels," said Macey, who manages about $20 billion in assets.


On the downside, Abercrombie & Fitch dropped 7.6 percent to $45.34 after the clothing retailer reported a drop in fourth-quarter comparable sales, even as its latest quarterly earnings topped estimates.


Insurer American International Group Inc posted fourth-quarter results that beat analysts' expectations. Shares advanced 3 percent to $38.43.


According to Thomson Reuters data through Friday morning, of 439 companies in the S&P 500 that have reported results, 70 percent have exceeded analysts' expectations, compared with a 62 percent average since 1994 and 65 percent over the past four quarters.


Fourth-quarter earnings for S&P 500 companies are estimated to have risen 6 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.


(Editing by Kenneth Barry)



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