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If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.
The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.
Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.
Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)
So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.
For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.
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Tuesday, July 01, 2008
Isle of Capri Casinos, Inc. Names Senior Vice President, General Counsel and Secretary
Comtex
ST. LOUIS, July 1, 2008 /PRNewswire-FirstCall via COMTEX/ ----Isle of Capri Casinos, Inc. (Nasdaq: ISLE) announced today that Edmund L. Quatmann, Jr. has been named senior vice president, general counsel and secretary, subject to certain regulatory approvals.
Quatmann joins Isle of Capri Casinos from iPCS, Inc., a NASDAQ-traded telecommunications company based in Schaumburg, Illinois, where he served as senior vice president, general counsel and secretary. Additionally, Quatmann previously represented the Company as legal counsel while an attorney with Chicago-based law firm Mayer Brown LLP. While at Mayer Brown, Quatmann represented the Company in a variety of corporate transactions.
Quatmann will replace Allan Solomon as General Counsel. Mr. Solomon will continue to serve as executive vice president.
James B. Perry, the Company's executive vice chairman and chief executive officer, commented, "Ed brings valued expertise and leadership to our legal team, along with his strong working knowledge of our Company. He is a great addition to our senior management team."
Isle of Capri Casinos, Inc., founded in 1992, is dedicated to providing its customers with an exceptional gaming and entertainment experience at each of its 18 casino properties. The Company owns and operates casinos in Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and Kansas City, Missouri; two casinos in Black Hawk, Colo. and a casino and harness track in Pompano Beach, Florida. Isle of Capri Casinos' international gaming interests include a casino that it operates in Freeport, Grand Bahama, a casino in Coventry, England, and a two-thirds ownership interest in casinos in Dudley and Wolverhampton, England.
This press release may be deemed to contain forward-looking statements, which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors, including without limitation, licensing, and other regulatory approvals, financing sources, development and construction activities, costs and delays, weather, permits, competition and business conditions in the gaming industry. The forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein.
Additional information concerning potential factors that could affect the Company's financial condition, results of operations and expansion projects, is included in the filings of the Company with the Securities and Exchange Commission, including, but not limited to, its Form 10-K for the most recently ended fiscal year.
CONTACTS: Isle of Capri Casinos, Inc., Dale Black, Chief Financial Officer, 314.813.9327 Jill Haynes, Senior Director of Corporate Communication-314.813.9368
NOTE: Other Isle of Capri Casinos, Inc. press releases and a corporate profile are available at http://www.prnewswire.com. Isle of Capri Casinos, Inc.'s home page is http://www.islecorp.com.
SOURCE Isle of Capri Casinos, Inc.
http://www.islecorp.com/
Copyright (C) 2008 PR Newswire. All rights reserved
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