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Tuesday, September 16, 2008
Schwarzenegger Will Veto Latest California Budget: Report
Lisa Twaronite
MarketWatch Pulse
SAN FRANCISCO -- California Gov. Arnold Schwarzenegger said he would veto the long overdue budget lawmakers sent to him earlier Tuesday because it does not include long-term spending changes he wants, according to a report in the Sacramento Bee. If lawmakers vote to override the veto, Schwarzenegger said, he will veto all the bills awaiting action on his desk. Lawmakers rejected one of Schwarzenegger's demands, which would have placed tighter limits on when and how much money could be transferred from the state's rainy-day fund. Legislative leaders of both parties said they were prepared to override Schwarzenegger this time, which would require two-thirds of the Legislature.
Copyright © 2008 MarketWatch, Inc.
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Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.
