Word: monthly
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...does that work out? It's great because we can both plan our time around our kids and what they're doing. If I need him to be home, for example, because I'm going on a book tour on Tuesday for a full month, I know he can be here to take the kids wherever they need to go and he can work out of the house if he needs...
What's more, financial stocks are also making the stock market look more attractive - or at least less ugly - to investors. The S&P 500 has a price/earnings ratio based on trailing 12-month earnings of about 15. That compares with a 10-year average P/E of 21. So the market's current valuation looks cheap. But some financial stocks like Bank of America and Wells Fargo have P/Es of 7 and 5, respectively. Take those out, and the market looks more expensive...
...Indeed, the summit was hastily convened after Sarkozy made jingoistic noises last month about pulling French car-making operations out of eastern Europe. The beleaguered eastern members fear 'Old Europe' is on a wayward drift from the E.U.'s core principles of a single market, which could leave 'New Europe' abandoned in the economic vortex...
...report authored last month by Katinka Barysch, of the Centre for European Reform think-tank, says they were merely following E.U. recommendations: opening their markets to trade and investment and selling their local banks to western European ones. It helped to drive the export boom of the past five years but left them more vulnerable to the crisis. Western banks have lent $1.6 trillion to Eastern Europe, but the crisis could see them pull back yank credit lines from their local subsidiaries, triggering a domino effect of collapsing financial institutions...
...still some way from splitting asunder - another summit in Brussels will take place over two days at the end of the month. But at the moment, the odds are that it will involve more long lunches, and more papering over the cracks...