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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, May 14, 2008
Ralphs Expands Discounted Generic Drug Program
Comtex
LOS ANGELES, May 14, 2008 /PRNewswire via COMTEX News Network/ ----Starting today, Ralphs in-store pharmacies will expand its generic drug program -- offering customers lower prices and additional drug choices to meet their health needs. The retailer is offering 90-day prescriptions for only $10 on its expanded generic drug program. Ralphs pharmacies are also increasing the number of women's health medications offered at a discounted price.
This new initiative expands the program Ralphs introduced in April that provides a $4 price for hundreds of generic drugs prescribed in 30-day supplies. It also complements several other programs Ralphs is offering customers to help them stretch their household budgets, including:
* Ralphs tax relief gift card program that offers customers free groceries when they turn their economic stimulus checks or direct deposits into Ralphs gift cards. * Ralphs unmatched line of quality private label products offered at great prices.
"Our expanded generic drug program is another example of the many ways we at Ralphs are making it easier for customers to stretch their dollars farther for the staples they need for their families," said Mike Donnelly, President of Ralphs Supermarkets. "Our customers can continue to rely on the expert health counsel and friendly service Ralphs' team of professional pharmacists consistently offer."
Expanded Women's Health Generics
Ralphs said it is also increasing the number of women's health medications it offers at a discounted price. They include drugs such as tamoxifen to treat breast cancer, combination estrogen/methyltestosterone for hormone replacement, as well as Alendronate, the generic version of osteoporosis medication Fosamax(R).
To Learn More
For more information about the expanded drugs/medications available, please visit http://www.ralphs.com/generic or call 1-877-4RX-LIST (1-877-479-5478).
Customers interested in these low-price generic drugs should consult their doctor or their neighborhood Ralphs pharmacy to determine if a generic drug is available for their prescription and is right for them. These discounted prescriptions are available in Ralphs store pharmacies and for on-line and telephone orders for customers to pick up in store.
About Generic Drugs
Generic drugs are as safe and effective as brand name drugs (according to federal law, they must be therapeutically equivalent to brand name drugs) yet cost significantly less. After a company's exclusive right to market a medication expires, other companies are allowed to develop generic equivalents -- usually at a much lower cost.
Due to state laws, certain drugs are priced higher than $4 (for up to 30-day supplies) and $10 (for 90-day supplies) in California.
About Ralphs
Ralphs, based in Los Angeles, was founded in 1873 and currently operates 266 supermarkets and 90 pharmacies in California and employs 25,000 associates. In 2007, the company donated more than $10 million to the local communities it serves. Ralphs is a division of The Kroger Co., (NYSE: KR), one of the nation's largest food retailers, based in Cincinnati, Ohio. For more information about Ralphs, visit http://www.ralphs.com.
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Katie McClish, 513.287.1851, kmcclish@northlich.com
SOURCE Ralphs
http://www.ralphs.com
Copyright (C) 2008 PR Newswire. All rights reserved
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