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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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Thursday, July 03, 2008
JetBlue Airways Announces Webcast of Second Quarter 2008 Earnings Conference Call
Comtex
NEW YORK, Jul 3, 2008 (PrimeNewswire via COMTEX) ----JetBlue Airways Corporation (Nasdaq:JBLU) announced today that it will hold its quarterly conference call to discuss second quarter 2008 financial results on July 22, 2008 at 10:00 a.m. ET.
A live, listen-only webcast of the call will be available on JetBlue's investor relations website at the following web address:
http://investor.jetblue.com
For those unable to listen to the live webcast, it will also be archived on JetBlue's investor relations website under 'Audio Archives' following the conference call.
New York-based JetBlue Airways has created a new airline category based on value, service and style. Known for its award-winning service and free TV as much as its low fares, JetBlue is now pleased to offer customers Lots of Legroom and super-spacious Even More Legroom seats. JetBlue introduced complimentary in-flight e-mail and instant messaging services on aircraft "BetaBlue," a first among U.S. domestic airlines. JetBlue is also America's first and only airline to offer its own Customer Bill of Rights, with meaningful and specific compensation for customers inconvenienced by service disruptions within JetBlue's control. Visit www.jetblue.com/promise for details. JetBlue serves 53 cities with 600 daily flights. With JetBlue, all seats are assigned, all travel is ticketless, all fares are one-way, and an overnight stay is never required. For information or reservations call 1-800-JETBLUE (1-800-538-2583) or visit www.jetblue.com.
The JetBlue logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=795
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: JetBlue Airways Corporation
JetBlue Airways Corporation Investor Relations (718) 709-2202 ir@jetblue.com
(C) Copyright 2008 PrimeNewswire, Inc. All rights reserved.
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