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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.
Home / Markets / Industries / Retail
Wednesday, July 23, 2008
OfficeMax Announces Dividend
Comtex
NAPERVILLE, Ill., July 23, 2008 /PRNewswire via COMTEX/ ----OfficeMax(R) Incorporated (NYSE: OMX), a leader in office products and services, announced today a regular quarterly dividend of $.15 cents per common share, payable on October 15, 2008, to shareholders of record on October 1, 2008. In addition, a regular semiannual dividend of $1.659375 per share on the company's convertible preferred stock, Series D, was declared. That dividend is payable on December 28, 2008 to shareholders of record on December 18, 2008.
About OfficeMax(R) Incorporated
OfficeMax is a leader in both business-to-business and retail office products distribution. OfficeMax delivers an unparalleled customer experience -- in service, in product, in time savings, and in value -- through a relentless focus on its customers. The company provides office supplies and paper, print and document services, technology products and solutions, and furniture to large, medium and small businesses and consumers. OfficeMax customers are served by approximately 36,000 associates through direct sales, catalogs, Internet and more than 900 superstores. OfficeMax trades on the New York Stock Exchange under the symbol OMX. More information can be found at http://www.officemax.com.
OfficeMax Media Contact OfficeMax Investor Contact Bill Bonner John Jennings 630 864 6066 630 864 6820
SOURCE OfficeMax
http://www.officemax.com
Copyright (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Saturday, 07-19-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 02-15-2008 for OMX @ $21.30. 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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