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Kim Butler
President

Partners for Prosperity, Inc.

City:Mt. Enterprise

State: TX



BIOGRAPHY:
I have 20+ years of handling alternative investments in cash, growth and income for clients nationwide.  I strive to help my clients with all things financial in every way possible over the phone and the web.  I own an alpaca farm which I enjoy working during my downtime.  I also enjoy gardening, writing and reading books.  I also train other advisors on Prosperity Economics.

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News Analysis for the Investor on June 28, 2013

Investors pull $8.6 billion from US bond funds

| BY Catherine McBreen

 

Investors pull $8.6 billion from US bond funds

Investors pulled $8.6 billion from US bond funds in the last week, contributing to the worst four-week streak since the depths of the financial crisis.  According to the Financial Times, the latest outflow takes the four week total for withdrawals to $23.7 billion and reflects the worst week since October 2008 when investors moved $44 billion from bond funds.  Investment managers are worried about further outflow once investors receive their second quarter statements showing losses in most bond funds.

Corzine charged in MF Global collapse

On Thursday, federal regulators filed civil charges against MF Global Holdings Ltd Chief Executive Jon S. Corzine.  According to the Wall Street Journal, the complaint charges Corzine with being actively involved in making decisions that put customer accounts at risk and allegedly moving money in violation of strict rules prohibiting such transfers.  The CFTC also fined MF Global Inc., the parent company, $100 million, the largest fine ever assessed against a futures merchant. Corzine served as Governor of New Jersey, was a US Senator and a senior executive at Goldman Sachs.  President Obama relied upon Corzine as an advisor early in his administration.

Trade Privileges to be suspended with Bangladesh

The Obama administration plans to suspend trade privileges with Bangladesh over concerns about safety problems and labor rights violations in the country’s garment industry.  The New York Times indicates that the suspension is largely symbolic because it will affect less than 1 percent of America’s $4.9 billion in annual imports from Bangladesh.

Blackberry maker, RIM, sees shares plunge

Blackberry maker, Research in Motion, saw shares slide in premarket trading on Friday after the company posted a loss in the first quarter and failed to break out how many Blackberrys were sold.  The Associated Press reports that analysts were waiting to see home many Blackberrys were sold in the first full quarter after a redesign of the product that included a touch screen.  RIM indicated only 6.8 million phones were sold compared to 7.8 million last year.  The new Blackberry 10 operating system is seen as critical to the company’s comeback.

Gold drops to 34 month low

Gold dropped to a 34 month low and headed for the worst quarter slump on record, as reported by Bloomberg.  Buillion fell 28 percent this year, the biggest annual drop since 1981, after rallying for the last 12 years.  About $62.5 billion was wiped from the value of precious metals this year.  The bear market began in April, extending from the all-time high of $1,923.70 in September 2011.

Empire State building receiving bids

Malkin Holdings, the real estate firm that owns the Empire State building, indicates that it has received two bids, potentially three, to buy the 102 story building for over $2 billion.  The building was set to become the centerpiece of a publicly traded real estate investment trust called Empire State Realty Trust.  The Helmsley Trust, the majority owner of the company that owns the building’s sublease, would have to approve a sale.  Its sublease expires in 2076.  An appraisal conducted last summer valued the building at $2.33 billion after debt.



About the Author


Catherine McBreen



Catherine S. McBreen is President of Millionaire Corner.  McBreen plans and develops content for Millionaire Corner.  Catherine balances editorial content to meet the informational needs of both new and seasoned investors.  She designs special monthly surveys on topical issues affecting the economic environment.

McBreen has a B.S. in speech communications from Northwestern University and a J.D. from DePail University College of Law.  She is a member of the American Bar Association, the Illinois Bar Association, and the Chicago Bar Association.

Well-known for her expertise in the affluent and retirement arenas, McBreen is a frequent speaker at industry conferences.  She has been quoted widely by the financial media, including The Financial Times, The Wall Street Journal, Research, Private Asset Management, On Wall Street, Reuters, Bloomberg News, The Dow Jones Newswires and Worth.  Cathy has appeared as a guest on CNBC Closing Bell, First Business Morning News, Neal Cavuto at Fox Business News, ABC and CBS radio.

McBreen is co-author with Spectrem President George H. Walper, Jr. of the book "Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families" (Portfolio, January 2008)

Catherine is the mother of four and is involved in many school and community events.