Michael snowhite sharing the information.

1. Michael Snowhite
Posted on June 28, 2013
“News And Information To Keep You Informed”
California Educators
Financial & Insurance Services
Michael Snowhite
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In This Issue
Opening Thoughts
Good News
Planning Tips
California Educators
Weekly Report
Monday, May 20, 2013
Dear Michael,
Our weekly email is aimed at keeping you up to date on important
topics and changes. We hope you find these weekly emails informative
and enjoyable. Each week we will bring you important updates and
useful information, in an easy to understand format. Enjoy!
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O P E N I N G T H O U G H T S …
In The
Headlines
Fortune 500 Shows
Changes
It’s May and time again for
one of the great American
business rituals, the
announcement of the Fortune
500, which lists the top U.S.
companies, ranked in order of
their annual revenue.

2. Retail behemoth Wal-Mart Stores Inc. regained the top spot on the list
by posting strong sales growth despite a challenging economy for its
shoppers. The company’s revenue grew nearly 6 percent in 2012 to
$469.2 billion.
Exxon Mobil Inc. dropped to the second spot, with revenue of $449.9
billion, but was still the most profitable company. Energy companies
dominated the top ten slots, with oil and gas producer Chevron at No. 3
and refiners Valero Energy and Phillips 66, spun off from
ConocoPhillips last year, joining the top 10.
Moving up two spots to No. 5 is Warren Buffett’s Berkshire Hathaway
Inc., which owns everything from insurers to railroads to newspaper
publishers and is in the process of acquiring Heinz Co. Manufacturing
stalwarts General Motors Co., Ford Motor Co. and General Electric Co.
all remained in the top 10.
The continuing popularity of the iPad and iPhone helped Apple Inc.
jump 11 spots to crack the top 10 for the first time, landing at No. 6.
The company’s soaring stock price also made it one of the most
valuable companies by market cap last year, though its shares have
since posted a double-digit decline.
Some notable departures from the top 10 included technology
bellwether Hewlett-Packard Co. which slipped to No. 15 from No. 10 as
the technology pioneer struggled with a broad consumer shift from PCs
to smartphones and tablets, as well as its own management missteps.
Also exiting the top 10 was government mortgage provider Fannie Mae,
which dropped four spots to No. 12.
One much publicized newcomer to the Fortune 500 was social media
powerhouse Facebook, which went public last year.
Surging to the Top – The U.S. Becomes a
Global Oil Super Power
The boom in North American oil production is reshaping global oil
markets and will help satisfy the growing thirst for oil in the developing
world, according to a new report prepared by the International Energy
Agency (IEA). The result should be an easing of worldwide oil supplies.
Increased North American production will also help the U.S. begin to
meet its own energy demands and cut back on imports that should now
start flowing to emerging markets.
The report highlights a staggering transition. The Paris-based IEA
forecasts that North America’s oil supply will grow by nearly 4 million
barrels per day between 2012 and 2018, amounting to nearly 50% of
global output growth over that period. The agency projects that the U.S.
will overtake Saudi Arabia to become the worlds biggest oil producer
before 2020, and will be energy independent by 2030.
The U.S. oil boom has been the result, in large part, of high world prices
and new oil drilling technologies, including hydraulic fracking, that
have made the extraction of oil and gas from shale rock commercially
viable. The new supply surge is timely and comes as developing nations
are set to consume more oil than developed countries for the first time.
In fact, the IEA predicts the shift will be seen this quarter, as demand
for oil from developing countries reaches 50%. By 2018, developing
countries will account for 54% of total global oil consumption.
China, the world’s second largest oil consumer after the U.S., will use
25% of world oil output by 2018, while U.S. demand will steadily
decline. But developing countries and emerging markets will not simply
be passive consumers. The IEA says these nations are investing heavily
in oil storage, transportation and refining. In fact, during the next 5
years, according to the agency, virtually all growth in crude oil refining
capacity is forecast to take place in the emerging markets and
developing economies. In addition to China and India, oil demand from
African nations is expected to grow rapidly.