Home / Markets / Industries / Government
Monday, January 12, 2009
Fed Reserve Governor Kroszner to Step Down at End of Month
Associated Press
Federal Reserve Governor Randall Kroszner says he will leave later this month, giving President-elect Barack Obama an opportunity to put his stamp on the central bank.
After nearly three years at the Fed, Kroszner says he will step down on Jan. 21. That's a week before the Fed's next regularly scheduled meeting.
Kroszner, 46, will return to academia as a professor at the University of Chicago's Booth School of Business. His departure from the central bank was expected.
Kroszner has served at the Fed during a time of great financial and economic turbulence. The convergence of housing, credit and financial debacles has created the worst crisis to hit the country since the 1930s.
FOX Translator
No data currently available.
No data currently available.
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.
