Comparing U.S. Defense Spending To Other Countries

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The annual US defense expenditures is huge. In fact, the US spending on defense in 2014 was more than the combined spending of the next seven countries according to one report.

Click to enlarge

US-Defense-Expenditure-Compared-to-Other-Countries

Source: THE U.S. SPENDS MORE ON DEFENSE THAN THE NEXT SEVEN COUNTRIES COMBINED, Peter G.Peterson Foundation

The following chart shows the portion of defense spending in discretionary spending allocated by Congress in Fiscal year 2015:

US-discretionary_spending_pie,_2015

Source: Federal Spending: Where Does the Money Go, National Priorities Project

Military was allocated about 54% (or $598 billion) of the $1.1 Trillion budget. As the chart above shows, the less than 50% balance is shared by education, medicare, transportation and other categories.

Knowledge is Power: Oil, Millennials, Stocks Flip-Flopping Edition

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National World War Two Memorial Washington DC

National World War II Memorial,  Washington DC

National Bank of Greece ADR Resumed Trading on the OTC Market

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On Nov 27, the NYSE announced the delisting of National Bank of Greece(NBG) ADR. Since then NBG investors could not trade the stock. As the ADR was delisted investors hoping to get out could not even sell the stock. However as of last Friday (Dec 4th), NBG started trading on the OTC market under the ticker NBGGY.

Today the stock closed down over 27% and ended the day at $0.42.

As announced earlier, a new reverse split of 1:15 was implemented on Dec 3, 2015. So the current price is after that revere split.

In addition, preference ADR holders can convert to common ADRs according to the depository BNY Mellon. Each Preferred ADR will receive one Common ADR. Full details on this conversion can be found here.

What to do if you hold NBG shares?

By now your broker would have converted the ticker to NBGGY and show the appropriate closing price. Investors planning to take a loss and move on, can now sell the shares on the OTC market to buyers.

Related:

Railroad Operator CSX to Move Listing from NYSE to Nasdaq

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CSX LocomotiveEight railroad companies currently trade on the New York Stock Exchange. Out of these five are American railroads. Now CSX Corporation, one of the Class I railroads is moving its stock listing from the NYSE to NASDAQ effective after the market close of December 21, 2015. The ticker will continue to remain “CSX“.

Below is an excerpt the press release:

JACKSONVILLE, Fla., Dec. 9, 2015 /PRNewswire/ — CSX Corporation (NYSE: CSX) announced today that the company will voluntarily transfer its stock exchange listing from the New York Stock Exchange to The Nasdaq Global Select Market, effective after market close on December 21, 2015. The company’s common stock will continue to trade under its existing “CSX” symbol.

“Moving to The Nasdaq Global Select Market provides new opportunities and synergies for CSX, and more closely aligns with the platform where most of our trading activity already takes place,” said Frank Lonegro, executive vice president and chief financial officer, CSX. “This decision is consistent with our commitment to reduce costs and uphold consistently high standards of corporate governance.”

“CSX Corporation is a critical player in the global supply chain and represents the type of growth-oriented and industry-defining companies that call Nasdaq home,” said Nelson Griggs, Executive Vice President, Listing Services, Nasdaq. “We are proud to welcome CSX Corporation to the Nasdaq family and look forward to our long-term partnership with the company and its shareholders.”

More info can be found at the CSX investor relations site.

For investors this move will not impact in any way.

Disclosure: Long CSX