From Reuters.com
The day ahead: Tuesday
On the anniversary of Lehman Brothers’ failure, investors will also be eyeing quarterly results from Best Buy and Adobe Systems.
* Federal Reserve Chairman Ben Bernanke speaks on “Reflections on a Year of Crisis on the anniversary of the fall of Lehman Brothers.
* A report on producer prices is expected to show that costlier oil is nudging up headline inflation by 0.8 percent, although excluding volatile food and energy economists were looking for a tame 0.1 percent rise.
* Retail sales figures are seen rising 2.0 percent for August after July’s 0.1 percent fall, but excluding autos they are seen only rising 0.4 percent.
* Top electronics chain Best Buy reports second-quarter results. Investors are looking to Adobe Systems’ quarterly earnings reports to see if sales of its CS4 suite of design software are starting to pick up after a lackluster launch.
* At the second day of the Reuters Russia Investment Summit, being held in Moscow, Kremlin Economic Adviser Arkady Dvorkovich, Svyazinvest Chairman Leonid Reiman and Unicredit Russia CEO Mikhail Alexeyev are in attendance.
Where in the world is Fuld?
Since the Lehman collapse, former CEO Richard Fuld has been largely out of the public eye, although he has been spotted at “power lunch” restaurants in New York and was interviewed by a Reuters reporter in remote Ketchum, Idaho.
A CEO is paid not only to run a company, but to also steer a company in the right direction based on predictions, not blind pursuit of higher profit.Contrarily, the so-called “mainstreeters” should learn from their mistakes. Who bought a house they could barely afford? How much money did “joe” borrow for his new 52-inch HDTV? Brand new SUV? It’s about time people realize excessive borrowing (anyone paying minimum amount on CC?) is just as stupid as what Fuld did.
How has the credit crisis affected you?
The demise of Lehman Brothers a year ago sparked a collapse in financial market confidence and set of a series of reactions that have spread hardship into the four corners of the globe.
Reuters News has charted the key events and their impact in “Times of Crisis” — a major new multimedia production on Reuters.com. (See it here.)
We’d like to add the experiences of Reuters readers. So, if you or your family have been affected by the events of the past year then use the comments section below to share your story.
I had been a college graduate for 3 months when Lehman collapsed. Since then, I’ve gotten a better job with better wages, improved my living standard, and paid off the credit card debt I accrued in college.If the recession had come a year or two later, I probably wouldn’t have been as cautious starting out and I would be feeling the effects more than I am.
