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Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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News Analysis for the Investor on May 9, 2013

US Jobless Claims drop below 350,000

| BY Catherine McBreen

 

US jobless claims drop below 350,000

The number of Americans filing for new unemployment benefits dropped to its lowest level in nearly 5 ½ years, according to CNBC.  Initial claims dropped by 4,000 to a seasonally adjusted 323,000.  Economists had expected claims to increase to 335,000.  This is the third straight weekly decline.  This trend generally leads economists to predict a firming job market.

Freddie Mac Posts $4.6 billion profit

The Wall Street Journal is reporting that Freddie Mac reported a $4.6 billion first-quarter profit, the second-largest in the company’s history.  The increase is due to rising home prices, falling mortgage delinquencies and low interest rates.  The government bailed out Freddie Mac at the height of the financial crisis. It still owes $71.3 billion.  It has, however, returned $36.6 billion of dividends to the US Treasury. 

Sony returns to profit

Sony reported its first full year net profit in five years on Thursday, according to the Financial Times.  It predicts earnings to grow further by 16 percent this year due to restructuring and a stronger yen.  Sony eliminated 10,000 jobs in its television division.  Forty executives gave up bonuses.  Due to its fall from the top of the television industry, it has been relying upon profits from its banking and insurance operations.

European Union will tax Chinese solar panels at 67 percent

Chinese solar panel importers will pay import tariffs of up to 67.9 percent at European Union borders under a plan from the executive bloc of the EU.  According to the Wall Street Journal, the proposal is likely to spark a large battle regarding unfair trade.  European manufacturers believe the Chinese are selling their products well below fair market prices in a bid to dominate the world for solar panels.  Solar panel equipment is a significant part of the China’s exports to the EU, the largest solar market in the world.

Greece’s economy may begin to improve

Greece’s troubled economy should start recovering next year and its unemployment rate should begin to fall at the end of 2014, according to the Associated Press.  Greece has imposed several rounds of austerity measures in an effort to reform its economy.  The country is in its sixth year of recession.  Its finance minister, however, is optimistic because Greece will be able to achieve a primary budget surplus that will occur by the end of the year.  The finance minister has also promised no more austerity measures.

Wrigley halts production of caffeinated gum

Wrigley says it is taking its new caffeinated gum off the market temporarily while the FDA investigates the safety of added caffeine.  According to USA Today,  the company has stopped sales of Alert Energy Caffeine Gum.  The gum allegedly has the same amount of caffeine as half of a cup of coffee.  The move is “out of respect” for the FDA to support the safety of its products.  The FDA has said it will look at the potential impact of new and easy sources of caffeine and the impact on children’s health.



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.