Submitted by Michael Shedlock via MishTalk.com,

Inquiring minds are taking a flashback look at the Secure Fence Act of 2006, signed by president Bush.

The Secure Fence Act of 2006’s goal is to help secure America’s borders to decrease illegal entry, drug trafficking, and security threats by building 700 miles (1,100 km) of physical barriers along the Mexico-United States border. Additionally, the law authorizes more vehicle barriers, checkpoints, and lighting as well as authorizes the Department of Homeland Security to increase the use of advanced technology like cameras, satellites, and unmanned aerial vehicles to reinforce infrastructure at the border. Congress approved $1.2 billion in a separate homeland security spending bill to bankroll the fence, though critics say this is $4.8 billion less than what’s likely needed to get it built.

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The final roll call shows both Barrack Obama and Hillary Clinton voted for the bill.

Continue reading “Flashback 2006: Senators Clinton & Obama Vote For Secure Fence Act, Bush Signs Bill”

Home Depot stock will hit an all-time high today. They just reported excellent results according to their press release, which will be parroted by the pundits on CNBC. They are one of the better run retailers in the country. The reason they are doing relatively well is that they stopped building stores years ago, closed underperforming stores, and focused on the existing stores. They now operate 2,260 stores.

The MSM faux business journalists will be reporting the wonderful sales and profit figures versus last year. The internet is a wonderful thing. It took me two minutes to find their 3rd Quarter 2006 earnings announcement, which I’ve included below.

They are boasting about the $19.5 billion of sales they achieved this quarter. Seven years ago they achieved $23.1 billion of sales with 150 less stores. For the mathematically challenged, their sales are 16% lower than they were seven years ago.

But it gets better. They are thrilled with the $1.4 billion profit in the current quarter. It seems they generated a profit of $1.5 billion in 2005 and 2006. So, in 2005 they made a profit of $1.5 billion on revenue of $20.4 billion, with 300 less stores than they operate today. I would say the ROI on those additional 300 stores hasn’t been so hot. No biggie. It only cost them $3 billion to build those stores to generate $100 million LESS profit.

You won’t get this info from Jim Cramer or the bimbos on CNBC. They will just continue the charade. Their job is to misinform and obfuscate the fact that our retail world is in a terminal contraction phase. Even the best retailers make less money today than they made in the mid-2000’s. Those are the facts.

The Home Depot Announces Third Quarter Results; Raises Fiscal Year 2013 Guidance

ATLANTA, Nov. 19, 2013 /PRNewswire via COMTEX/ — The Home Depot®, the world’s largest home improvement retailer, today reported sales of $19.5 billion for the third quarter of fiscal 2013, a 7.4 percent increase from the third quarter of fiscal 2012. On a like for like basis, comparable store sales for the third quarter of fiscal 2013 were positive 7.4 percent, and comp sales for U.S. stores were positive 8.2 percent.

Net earnings for the third quarter were $1.4 billion, or $0.95 per diluted share, compared with net earnings of $947 million, or $0.63 per diluted share, in the same period of fiscal 2012. For the third quarter of fiscal 2013, diluted earnings per share increased 50.8 percent from the same period in the prior year. The prior year results reflect a nonrecurring charge of approximately $165 million, net of tax, or $0.11 per diluted share, due to the closing of seven stores in China. On an adjusted basis, the Company reported a 28.4 percent increase in diluted earnings per share from the same period in the prior year.

The Home Depot Announces Third Quarter 2006 Results

Sales of $23.1 billion Net earnings of $1.5 billion Earnings per share of $0.73

ATLANTA, Nov 14, 2006 /PRNewswire-FirstCall via COMTEX News Network/ — The Home Depot(R), the world’s largest home improvement retailer, today reported third quarter net earnings of $1.5 billion, or 73 cents per diluted share, compared with $1.5 billion, or 72 cents per diluted share in the same period in fiscal 2005.

Sales for the third quarter of fiscal 2006 totaled $23.1 billion, an 11.3 percent increase from the third quarter of fiscal 2005.