Friday, April 26, 2013

The SBA and captious



Having an inclination to find faults, especially of a trivial nature.

Via French from Latin capere (to seize).



SBA has decided to not be so captious towards borrowers.

SBA form 912, Statement of Personal History, has been revised.  The most notable revision is question 8. 

It used to ask: Have you EVER been charged with, and/or arrested for, any criminal offense other than a minor motor vehicle violation?

It now asks: Have you BEEN arrested in the past six months for any criminal offense?


SBA LIBOR Base Rate April 2013 = 3.20%
SBA Fixed Base Rate April 2013 = 4.67%

Debenture Rate for April  

The debenture rate is 2.08% but note rate is 2.117% and effective yield is only 4.162%.


To put this any other way would be captious.

Economic growth in the first quarter of this year soared to a 2.5% annual pace, compared to the anemic 0.4% pace in the last quarter of last year.

That might be overstating it a bit. 

In March, employers added just 88,000 jobs vs. an average 208,000 the previous two months.

Keep your eyes and ears open for Friday’s report on jobs for April.  

Here is a summary of net monthly payroll employment and this week’s interesting little table of data:

February 268,000
January 148,000
December 155,000
November 161,000
October 137,000
September 114,000
August 142,000
July 181,000
June 45,000
May 77,000
April 68,000
March 143,000
February 240,000
January 243,000
December 203,000
November 157,000
October 112,000
September 158,000
August 104,000
July 127,000
June 20,000
May 25,000
April 232,000
March 194,000
February 235,000
January 68,000
December 121,000
November 93,000
October 210,000
September (41,000)
August (1,000)
July (66,000)
June (175,000)
May 431,000
April 218,000
March 230,000
February (36,000)
January (26,000)
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)
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?

I don’t know.

Just before April’s job report comes out, the Federal Reserve meets on monetary policy.

Federal Reserve policy makers have said they will keep interest rates low until the labor market improves “significantly.” 

It would appear that interest rates are never ever going up.
Captious critics of Juan Pierre like to point out that he has been caught stealing more times than anyone else playing baseball right now.

Having been thrown out 198 times, Juan is now number seven on the all time caught stealing list.  He is now number eighteen on the all-time stolen base list with 596 steals.

Doing the math for stolen base percentage (SB% = Stolen Bases/(Stolen Bases + Caught Stealing), Juan comes out to just over 75%.

There is a statistic related to stolen base percentage called "Stolen Base Runs" or SBR ((.3 x Stolen Bases) - (.6 x Caught Stealing)).  The break even success rate for steals (the rate at which an attempt to steal is neither helping nor hurting the team in terms of total runs scored) is about 67%. Each successful steal adds approximately .3 runs to a team's total runs scored.

So Juan is doing just fine.

Juan now needs another 20 stolen bases to pass George Davis who has 616 stolen bases.  George began playing for the Cleveland Spiders in 1890.  Fortunately he was traded away after a few years as the 1899 Spiders became the worst team ever wining only 20 games while losing 134.  The Spiders lost 40 of their last 41 games, and finished 84 games behind the 1899 National League champion Brooklyn Dodgers.  The Spiders were so bad that the National League forced them to quit playing.  While they were at it, they forced three other lousy teams to also fold.  The American League soon arose to fill the void.

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