The SBA and wieldy

wieldy

(WEEL-dee)

Easily handled or managed.

From Old English wealdan (to rule).
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TIP OF THE WEEK
SBA loans are wieldy.

Recovery Act SBA loan provisions providing an increased guarantee and fee reductions expire on May 31st.

There is still time to take advantage.

Pending legislation providing an increased guarantee, continued fee reductions, and increased loan amounts still needs to pass.
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Indices:
PRIME RATE: 3.25
SBA LIBOR Base Rate April 2010 = 3.25%
SBA Fixed Base Rate April 2010= 6.57%
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504 Debenture Rate for April
The debenture rate is 4.36% but note rate is 4.42% and effective yield
is only 5.774%.
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AHEAD OF THE YIELD CURVE

Last week the Federal Open Market Committee said that they would continue to keep rates low for an “extended period.”

One of their reasons is because “employers remain reluctant to add to payrolls”.

That does not seem to be the case with small businesses.

Small businesses added approximately 66,000 new jobs in April and roughly 300,000 new jobs since June 2009, when the upward trend in employment began.

Intuit, the accounting software company, said that small businesses added about 66,000 new jobs in April. Intuit released the monthly report, based on figures from the country's smallest businesses that use Intuit Online Payroll. The Intuit Small Business Employment Index reflects data from approximately 55,000 small business employers who use Intuit Online Payroll.

Keep your eye on Friday’s payroll report from the Department of Labor.
Here is a summary of payroll employment and this week’s interesting little table of data:
March 162,000
February (36,000)
January (26,000)
2009
December (150,000)
November (11,000)
October (111,000)
September (215,000)
August (201,000)
July (304,000)
June (443,000)
May (322,000)
April (504,000)
March (699,000)
February (651,000)
January (655,000)
2008
December (681,000)
November (597,000)
October (423,000)
September (403,000)
August (127,000)
July (67,000)
June (100,000)
May (47,000)
April (67,000)
March (88,000)
February- (83,000)
January- (76,000)

What does all this mean?

The big increase in jobs last month likely reflected a rebound from the February blizzards that set seasonal snowfall records in cities including Washington and Philadelphia, shuttering some businesses during the week of the government survey. Any hiring that would have taken place that week is figured into the March job count instead. The March increase also included 48,000 temporary workers hired by the government to conduct the 2010 census. The economy has lost 2.3 million jobs over the last year and 8.2 million jobs since the beginning of the current employment recession. Employment peaked in December 2007, and this recession is by far the worst recession since WWII in percentage terms, and 2nd worst in terms of the unemployment rate (only early '80s recession with a peak of 10.8 percent was worse).

Futures on the CME Group Inc. exchange showed a 64 percent chance the Fed will raise its target rate for overnight bank lending by at least a quarter-percentage point by December, compared with 63 percent odds a week ago. The central bank has kept the rate between zero and 0.25 percent since December 2008.
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OFF BASE

Today, May 3rd, in 1899 Tom O'Brien of the New York Giants receives perhaps the first intentional walk in major league history. In the eighth inning, with runners on second and third bases with one out, Ed Delahanty of the Philadelphia Phillies tells teammate pitcher Jack Fifield to walk O'Brien, who has hit well all day. Then next batter, Fred Hartman, hits into a double play.

Intentional walks are normally issued for two reasons: to bypass a good hitter for a weaker one and/or to set up a double play. The usefulness of intentional walks for either reason is a matter of considerable argument, and different managers have taken very different attitudes toward the intentional walk. Walter Alston even changed his attitude in mid-career, moving from issuing 101 (the 8th most ever) in 1967 to just 9 (the fewest ever) in 1974. In 1974 the Dodgers did go on to the World Series.

A walk is only considered intentional if the catcher gives a clear sign that he is calling for an unhittable ball. Normally he does this by standing up instead of crouching and reaching one hand outside. The pitcher then throws the ball toward the catcher's hand, and the catcher steps over to catch the ball.

The single season record for intentional walks came in 2004 when Barry Bonds was intentionally walked 120 times. One of those passes came on April 17th against the Dodgers. In the bottom of the third inning with two outs and a runner on second, Jose Lima intentionally walked Bonds. The next batter popped out and Lima went on to win the game.

The intentional walk it is often referred to as a "four-finger salute". This reference stems from the manager's holding up four fingers to signal an intentional walk to his pitcher or catcher.