At Fort Pitt we are huge consumers of news — internally we often share articles of interest that cover issues of relevance to the financial world in which we operate. Twice monthly, we will highlight stories that have struck a chord with us, and that we think might be of interest to you.
“The Facts on Fracking”— this New York Times op-ed by Susan L. Brantley and Anna Meyendorff examines the facts on fracking, offering a fairly balanced look at the controversial topic that affects many in our local community.
A Wall Street Journal piece by Dan Fitzpatrick, “J.P. Morgan Pulls Belt Tight,” delivers news of massive layoffs at J.P. Morgan, cited as the largest U.S. bank by assets. This news supports the trend of cost cutting by many U.S. banks and furthers our belief that revenue growth for banks is going to be tough. Investors, who were purchasing bank stocks in the January run-up, were expecting these layoffs and other cost-saving measures, a topic I discussed in a recent CNBC segment.
Apple has dominated headlines and investors’ portfolios, but at Fort Pitt we believe that it’s the underappreciated Microsoft that people should consider. Seeking Alpha’s article, “Microsoft Positioned For Unrivaled Enterprise Ecosystem,” highlights why Microsoft is a safe and smart bet for the long-term.
In her article for USA Today, “Retirement Worry is Highest in 23 Years,”reporter Christine Dugas discusses current U.S. sentiment regarding retirement. The piece showcases an important issue among Americans today — their lack of confidence and readiness for retirement. At Fort Pitt we cannot stress enough how essential it is for people to start planning early and to stay on track financially. A solid plan and setting goals will help to alleviate some of that retirement planning anxiety.
Check back mid-month for the next installment!