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Monday, October 06, 2008
Treasury Confirms Kashkari To Head Mortgage Rescue Plan
Greg Robb
MarketWatch Pulse
WASHINGTON -- Treasury Secretary Henry Paulson has tapped a close advisor, Neel Kashkari, to lead the $700 billion mortgage rescue effort. Kashkari is currently assistant secretary for international economics. His new title is interim assistant secretary for financial stability. Kashkari is 35 years old, with two master's degrees. The first is in engineering and the second was an M.B.A. in finance. He is a former banker at Goldman Sachs Group Inc., who came to Treasury along with Paulson in July 2006.
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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.
