Financial Cookie Jar

Apple has been around for a long time, but it wasn’t until the last three years that they became the most admired company according to Fortune.

Does anyone disagree? Perhaps, but the numbers sure agree. Over 250 million iPods, 43 million iPhones, 32 million iPod touches sold to date and still too early to tell how many iPads will be sold.

Apple won this year’s vote by the highest margin ever for the number one spot. This puts Apple only two years away from tieing GE for most appearances in the top spot.

But why do people love Apple so much? One word: Product. Think of how much Apple has changed. They have changed the way we listen to music, design products and how we engage with the world aroudn us. They lead the market and we see copycats following suit after each of their products.

With this kind of trend, I won’t be surprised if we see a repeat next year.

The Federal Reserve has increased the rate that it charges banks for borrowing reserves. This sign indicates that banks are returning to a normal state of operation, but the action will result in higher interest rates.

Currently, the interest rates are the lowest they have been for decades.  The Federal Government says that they will not raise the federal fund rate for awhile, but declined to specify a specific time period.

 Investors are waiting in apprehension for the interest rate to change because they will have an impact on the markets. These changes will alter their strategies for finding success in their investments. They should be looking ahead and preparing for the changes to come now.

General Motors Co. plans to decrease their production of the Hummer after their attempt to sell the line to a Chinese company. Tengzhong is a heavy machinery company based in the Sichuan province.

The deal falling through was another addition to the long list of disappointments that General Motors has faced lightly. After their losses on the Hummer, GM plans to focus on their four successful brands: Chevrolet, Cadillac, Buick, and GMC.

They also plan to cease production of all other brands. Stopping the production of Hummer and closing the plant would mean the loss of jobs for over 3,000 people.

The Hummer was initially applauded for its fierce military image. However, after the increases in oil and gas prices its image evolved into an inefficient, low gas mileage vehicle.

Currently China is trying to promote the idea that their vehicles are friendly to the environment. The Hummer is not viewed as an environmentally vehicle, and would be this idea at risk. This is only a small part of the reason China company Tengzhong was unable to complete the deal.

This incompletion was the third deal to fall through for General Motors.