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May 13, 2011     Post-Gazette
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May 13, 2011
 

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Page 4 POST-GAZETTE, MAY- 13, 2011 with Ben Doherty . .  ) HIRING BEST IN FIVE YEARS, BUT JOBLESS RATES RISE The job gains beat fore- casts hitting 268,000 as February and March figures were revised higher. Ameri- cans remain discouraged from seeking work, which is keeping official unemploy- ment lower than expected. The major indexes capped a volatile week with modest gains in soft trades. The NYSE composite added .3% and the NASDAQ rose .5%. All snapped four-day losing streaks but ended low in the sessions trading range with their first weekly loss in five weeks. Leading stocks did better as the NYSE had mod- est gains. The market gave up most of its gains by the close on Friday. Volume fell across the board, but action was mixed. The NASDAQ is finding support at its 2800 level over the NYSE is near 8500. The S&P500 is drop- ping to its old resistant level of 1340. The market is in a corrective mood as raising cash is important. A report that Greece was considering abandoning the Euro Zone disturbed the market but Greece denied the report. However, as investor Martin Loeb once wrote, "The mar- ket is better at predicting the market." So the savvy investor will focus on the market itself not the news. Leaders outperform the mar- ket. On the average, the top stocks that fell did so with more emphatically than the weaker ones that rose. For example, PriceLine.com rose 30% on Friday in heavy volume despite strong quar- ter results. The stock under- cut its trading range of the previous two sessions. Chip designer Spreadtrum Com- munications dived 10% in volume that was 156% above volume. The China-based company reported earnings up 224% topping the analyst estimates. Economists ex- pect the economy's upward momentum to continue this year unless oil prices spike over $150/barrel. Oil prices fell last week below $100/ barrel amid fears of slow eco- nomic growth and a stronger dollar. April's gains were widespread with 64% of in- dustries reporting higher employment. Service firms hired 224,000 new workers. Retail jobs shot up by 57,100, the best in 11 years. The late Easter may have inflated that figure, but it doesn't count the 57,100 new hires. Goods producers hired 44,000 and construction pro- ducers rose 5,000 and manufacturing rose by 29,000. Government jobs fell 24,000, the sixth straight decline amid state and local budget cuts. Meanwhile, hir- JUSTINE YANDLE PHOTOGRAPHY 781.589.7347 JUSTINE.YANDLE@GMAIL.COM WWW.J USTIN EYAN DLEPHOTO GRAPHY.COM ing for February and March were viewed up. Yet when the economy has created jobs for seven straight months, the gains .have been slow. Some 13.7 mil- lion Americans have re- mained unemployed, about double the number before December 2007. The Labor Force participation rate dropped to 64.2%. "The good news is that the economy is improving, but the bad news is that it's far short of what we would like to see at this point," said Scott Brown, Chief Economist at Raymond James. Meanwhile, the economy faces head winds from higher gasoline prices and a weak housing market with state and local govern- ment budget cuts. GDP ex- panded at a trepid 1.8% rate in the first quarter, down from the fourth quarter's 3.1%. High unemployment has forced the Fed to keep a loose policy loose despite concerns about inflation, but a sharp sell-off of oil, silver and other commodities re- cently has tempered their concerns. Higher oil prices could fall or level off soon if oil futures hold at these lev- els. Wages held at a 1% gain in April, below the expected 2% rise. The 10-Year U.S. Treasury bond held at 3.5%, fiat with last week and with the rates even, the Bond Market is stable, as this could help the housing mar- ket. Varian Semiconductor was sold for $4.9 billion to Applied Materials, Inc. It will pay $63/share, a 56% markup over its close. The deal gets back by implanting ions where it had lost ground to Varian. The company has 1,600 workers, mostly in Gloucester. Herbalife Ltd. had record sales and jumped $15.06 in price and Ralcorp Holdings rose $12.54/share up 160%. It's time to call your financial advisor or call me at 617-261-7777. Constitution Cooperative Apartments APPLY NOWI 1-800-225-3151 Constitution Co-op located in the heart of City Square in Charlestown offers: Rent based on 305 of income (income limits apply: utilities included) Studio and one bedroom apartments for seniors and mobility inlpaimd individuals over the age of 18 who qualify Lounge area on every.' floor for socializing and meeting A chance to participate in the management and decision making process Location along MBTA busline Community Room with kitchen facilities and onsite lanndu facilities Wonderful neighbors and new friends THOUGHT by Judean Langone Do not talk about love, Give it Starting with God/ I DIAMONDS 1 ROLEX ESTATE JEWELRY Bought & Sold Jewelers Exch. Bldg. Jim (617) 263-7766 Small Ads Get Big Results For more information call 617-227-8929 Life is Blooming in Dorchester's Clam Point for Pito and All of Us I called the Clam Point neighborhood home for a while a few years back. I lived on Park Street next to the AAA Appliance Parts store run by Mike Kahn and we became good friends. I'm still always stopping by the place. It takes on the role of a general store most of the time. Sometimes, folks come in for appliance parts, sometime to purchase lot- tery tickets and sometimes just to chat. The other day, I stopped by as usual and noticed flowers blooming everywhere. Out- side the shop, Mike has a beautiful little garden and flowers are beginning to bloom as spring blooms eter- nal. His tiny garden is a re- minder of life returning af- ter a long and frigid winter disappears. Across the street in that little island, the small tree is starting to bud and the patch of soil sur- rounding it is lined with all kinds of beautiful flowers, a rainbow of colors. None of this happens by accident. When Mike waters his flowers, he also waters the flowers on that tiny is- land too. Recently, the fam- ily of Pito Rodriguez showed up to celebrate what would have been his 29 m birthday. A large crowd of family mem- bers brought new flowers to plant. They sang and they cried for him and still Iov- ingly remember the life that was taken at this spot back on December 9, 2007 when his car crashed into the tree killing him in the pre-dawn hours of the long-ago winter morning. His mother is al- ways showing up tilling the soil and taking good care of the flowers she so lovingly planted. There's a tiny cross up against the tree trunk with his name written on it, his birth date March 28, 1982 and the date of his death December 9, 2007. The family came from their native Puerto Rico and they will always remember Pito who tragically died over three years ago when God called him home in Clam Point. I've talked to his mother and told her I loved her garden, a spot for the entire neighborhood to stop by and reflect on life and the mystery of it all. She thanked me for my kind words and went back to her planting. A life worth living is a life worth remembering is played out every day in Clam Point for a young man nicknamed Pito. We rush around every day and sometimes can miss the most important part of living. The next time you pass by this piece of Clam Point, slow down and think about those you love and the memories of those who have gone before us. Greater Boston's Affordabte Pnvate Cemetery Traditional Burial Hot (for00tarting at S 1500 617.524.1036 , 131 www.stmichaelcemete'ry.com the Italian community for over 100 years/ LLIJS FUNCTION FACILITY Specializing in the art of celebration Wedding, Anniversary, Quinceaera, Reunion, Birthday, Social and Corporate Events. Convenient location and valet parking makes Spinelli's East Boston the perfect location. We are dedicated to the highest level of service and professionalism to ensure the success of your special occasion. 280 Bennington Street, East Boston, MA Please Call 617-567-4499 spinellis.com