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Tuesday, September 30, 2008
FDIC Sees Temporary Power To Raise Bank Deposit Insurance
Greg Robb
MarketWatch Pulse
WASHINGTON -- The Federal Deposit Insurance Corporation Chairman Sheila Blair said Tuesday that temporary power to increase government insurance on bank deposits would be helpful. Blair said more deposit insurance would stem the "crisis in confidence" that exists at the moment. Several large banks have experienced large withdrawals in recent weeks as concern about the health of the financial sector continues to increase. The government has been forced to arrange the sale of two of the country's largest banks, Washington Mutual and Wachovia. Blair noted that the insurance would be paid back over time by industry assessments. Both presidential candidates said earlier Tuesday that the move would be helpful. The measure may be included in the mortgage rescue plan that is stuck in Congress to make it more palatable to members as help for Main Street instead of Wall Street.
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Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.
