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NEWS: Sentiment improves, inventories drop ..
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Improving U.S. consumer sentiment and a big drawdown in wholesale inventories built on recent evidence that an economic recovery was picking up speed.
The Rueters/University of Michigan Surveys of Consumers said the preliminary reading of consumer confidence index for September rose to 70.2, the highest since June, from 65.7 in August. This was above economists’ median expectation of a reading of 67.3, according to a Rueters poll.
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Freight Brokers: More of them Closing thier business
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According to several transportation industry sources, freight brokers going out of business have increased substantially this year.
Freight brokers are like banks, they pay carriers while waiting to get paid from the shippers who themselves have been closing their doors or filing for bankruptcy more often these days. Customer risk should be reviewed frequently by yout team. Prevention costs less.
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Halloween Fun Fact
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From the U.S. Census Bureau
36 million, The estimated number of potential trick-or-treaters in 2008—children 5-13 – across the United States. This number is up about 65,000 from a year earlier.
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Asta Funding Inc. Reports Operating Results (10-Q)
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Asta Funding Inc. is a consumer finance company specializing in the business of purchasing selling and servicing retail automobile installment contracts originated by dealers in the sale primarily of used automobiles. Through its purchases the company provides indirect financing to borrowers with limited credit histories lower than average incomes or past credit problems. Asta Funding Inc. has a market cap of $53.2 million; its shares were traded at around $3.73 with a P/E ratio of 1.2 and P/S ratio of 0.5. The dividend yield of Asta Funding Inc. stocks is 2.2%. Asta Funding Inc. had an annual average earning growth of 42.6% over the past 5 years.
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