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On the one hand, you'll likely never find anything so aptly named in finance. It is indeed a beige book. But its real title is the Summary of Commentary on Current Economic Conditions by Federal Reserve District. About two weeks before the Federal Open Market Committee meets to decide on interest rates, Fed governors get a compilation of how individual Federal Reserve banks view their economic health. (Actually, a different Fed bank is responsible each time to put it together, so they pass the workload around like roommates deciding who'll do the dishes.)
Obviously, it's important stuff. Since it's rather timely, many stock traders and economists use it to gauge whether the Fed has the same view of economic conditions as the market seems to.
But it's not scientific -- even the Fed admits that it's "anecdotal." And the Beige Book is the result of dozens of interviews with economists, bank branch managers, market experts and business leaders. As a result, a survey of pessimists in a district can paint a decidedly glass-half-empty picture. What's more, the Beige Book surveys all 12 Fed districts, and economic conditions in Cleveland can be much different than, say, Richmond, Va.
As a result, the Beige Book is rarely a market-mover, unless it contradicts a bunch of other data. So, check out the summary, but you can find better reports to read before nodding off.
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Tuesday, July 22, 2008
Blockbuster Inc. Announces Its Second Quarter 2008 Conference Call and Webcast
Comtex
DALLAS, July 22, 2008 /PRNewswire-FirstCall via COMTEX/ ----Blockbuster Inc. (NYSE: BBI, BBI.B) today announced that the Company will release its second quarter 2008 financial results on Thursday, Aug. 7, 2008, before the opening of the U.S. financial markets. The Company will also host a conference call at 10 a.m. Eastern Daylight Time to review its first quarter results.
The call may be accessed by dialing 1-800-374-0113. The live webcast may be accessed on the Investor Relations section of Blockbuster's website at http://investor.blockbuster.com, and will be archived on the Investor Relations section of the website for 12 months.
A telephonic replay of the call may also be accessed by dialing 1-800-642-1687, pin number 57111692, beginning at approximately 1 p.m. Eastern Daylight Time on Thursday, Aug. 7, and continuing through Thursday, Aug. 14.
Blockbuster Inc. is a leading global provider of in-home movie and game entertainment, with over 7,800 stores throughout the Americas, Europe, Asia and Australia. The Company may be accessed worldwide at http://www.blockbuster.com.
SOURCE Blockbuster Inc.
http://www.blockbuster.com
Copyright (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Friday, 07-18-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-13-2008 for BBI @ $2.82. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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