Wall Street Breakfast: Must-Know News

• Obama wins, futures move lower. European markets and U.S. futures traded lower overnight (see data below) as investors, perhaps, emerged from their election-induced elation and began thinking about the mess President-elect Barack Obama will inherit. Still, analysts at BNP Paribas were optimistic about the leadership change: "Obama has strong personal, political and institutional assets... his program is relatively well adapted to America's needs, in the fields of energy, healthcare, social cohesion and competitiveness." UBS analysts said winners of an Obama victory would be hospitals and nursing-home operators, life-sciences, natural gas firms, solar and life insurers, while losers would include big pharma, managed care, high-end consumer, coal and utilities and integrated oils. More.
• MT misses, paints gloomy picture. ArcelorMittal (MT) reported Q3 profit rose 29% to $3.82B, short of $5.82B analyst estimates, and sales were up 37.9% Y/Y to $35.2B. However, the company warned Q4 earnings (before Ebitda) could fall to $2.5B-$3B from $8.58B in Q3, while analysts expect the current fall in steel prices to hurt Arcelor well into 2009. The company also announced plans for steep production cuts. Output of flat carbon steel will be cut by up to 35% in the U.S. and up to 30% in Europe. Stainless steel supplies and output will be reduced in Asia and Africa. Shares -18% premarket.
• Shell says OPEC cuts lead to force majeure. Shell (RDS.A) declared force majeure on some of its Nigerian crude exports due to OPEC's recent decision to reduce output by 1.5M b/d. The move indicates that Nigeria - a nation with a sketchy history of OPEC compliance - is indeed taking steps to pare production in compliance with OPEC's production cut; some doubted whether OPEC could force member nations to comply. Some Shell customers don't think the OPEC reduction justifies a force majeure declaration.
• Corn Products wants out of Bunge deal. Corn Products International (CPO) said it will withdraw its recommendation of Bunge's (BG) takeover bid. Originally valued at $4.2B, the value of the all-stock offer has plunged 63% along with Bunge's shares. Bunge replied, saying it has no intention to increase its bid: "Despite the effect of unprecedented turmoil in the equity markets on our companies' stocks, Bunge's board of directors and management continue to believe a merger with Corn Products as currently structured would deliver significant value." CPO is the the fourth-largest maker of high-fructose corn syrup in the U.S.
• Mixed bag for e-shopping. Online retailers say sales growth will slow this holiday season, but will still beat last year's by 15%. "Online retailers are resilient when it comes to the economy, but they're not immune," one industry official said, adding, "It's challenging to keep up those really high growth rates." On the other hand, the ease with which online shoppers can comparison shop and saving on gas could appeal to cash-strapped shoppers. Most retailers say they'll offer free shipping, although some are raising the minimum purchase requirement.
• Consumer spending dries up. MasterCard Advisors reported consumers slashed spending in October, especially on larger purchases, as the financial crisis made for lighter wallets and heavier economic worries. Michael McNamara, vice president at MasterCard Advisors, said 'the numbers for October are very negative across the board,' and in particular 'sales above $1,000 just aren't really moving.' Savings-conscious spenders helped fast food restaurant sales rise 1%. Lowlights: Home decor -20.6%. Electronics -19.9%. Women's apparel -18.2%.
• Lending rates ease, but still elevated. Three-month Libor fell 20 BPs to 2.51% today, down from 4.82% on Oct. 10. Still, the rate remains 151 BPs higher than the Fed's target of 1% - compared to its average spread of just 22 BPs. "Banks are cutting back, the economy is in a deepening recession and in that environment, I don't think banks are going to become a lot more willing to extend credit soon," Goldman Sachs economist Jan Hatzius said.
• CDS data less daunting than feared. Data released by the DTCC shows credit-default swap traders took out a net $22.7B of contracts on Italy's debt, $16.7B against Spain and $12.5B on Deutsche Bank (DB). Outstanding transactions total $33.6T, a smaller sum than many had estimated, which may ease concerns that the much-maligned instrument is at fault for much of the recent financial market volatility. "Far too much mistrust has been engendered by the lack of transparency," CreditSights' Brian Yelvington said. "There's still a lot here that's not captured. But it's a step in the right direction." For instance, outstanding contracts on Lehman debt were only $72B, while estimates ranged as high as $400B. After subtracting redundant trades, only $5.2B actually changed hands.
• FCC signs off on Sprint/Clearwire combo. The FCC approved Sprint's (S) acquisition of Clearwire (CLWR), a merger considered critical to Sprint's survival in the wireless market. The Justice Department must still sign off on the deal. Afterhours S +7.2%, CLWR +21.8%. Meanwhile, Sprint faces a class-action lawsuit over claims that it wrongly charged subscribers $1.2 billion in early-termination fees. Sprint called the "suit cynical and opportunistic."
• Diabetes drug delay. The FDA said it isn't satisfied with data supporting a once-weekly version of the diabetes drug Byetta, currently injected twice a day. The likelihood of a delay of the drug's introduction sent its developers Amylin (AMLN) plunging 25.8% and Alkermes (ALKS) down 9.8%.
• Factory Orders fell 2.5% in September, far worse than the -0.7% consensus. It was the second consecutive monthly decrease. Ex-transportation, orders were off 3.7%, the largest percent decrease since 1992.
• National chain store sales fell 1.2% in the four weeks of October vs. September, Redbook says, but gained 0.6% vs. a year ago. According to ICSC, chain-store sales rose 0.9% last week vs. a year ago and 0.6% vs. the week before. Consumers continued to spend on everyday items.

Earnings: Wednesday Before Open

• Agrium (AGU): Q3 EPS of $2.31 beats by $0.42. Revenue of $3.11B (+214.8%) vs. $2.24B. (PR)
• Ambac (ABK): Q3 EPS of -$7.81 misses by $7.31. Net mark-to-market losses on credit derivatives of $2.7B. Shares -19%. (PR)
• Aqua America (WTR): Q3 EPS of $0.26 beats by $0.01. Revenue of $177M (+7%) in-line. (PR)
• ArcelorMittal (MT): Q3 EPS of $2.79 misses by $1.22. Revenue of $35.2B (+37.9%) vs. $38.8B. "We remain optimistic about the industry's medium-term growth prospects, but it is appropriate to pause our growth strategy until we have a more settled economic outlook." Shares -16.2%. (PR)
• Becton Dickinson (BDX): FQ4 EPS of $1.13 beats by $0.02. Revenue of $1.84B (+11.2%) vs. $1.81B. (PR)
• CenterPoint Energy (CNP): Q3 EPS of $0.39 beats by $0.18. Revenue of $2.52B (+33.6%) vs. $2.1B. Shares (PR)
• Checkpoint Systems (CKP): Q3 EPS of $0.32 misses by $0.05. Revenue of $234M (+14.4%) vs. $245M. Sees full-year EPS of $1.21-1.27 vs. $1.34 and revenue of $920-935M vs. $966M. (PR)
• CMS Energy (CMS): Q3 EPS of $0.34 beats by $0.08. Revenue of $1.43B (+11.4%) vs. $1.34B. (PR)
• Cognizant Technology Solutions (CTSH): Q3 EPS of $0.40 beats by $0.03. Revenue of $735M (+7.2%) vs. $723M. (PR)
• Corinthian Colleges (COCO): FQ1 EPS of $0.07 in-line. Revenue of $290M (+18.4%) in-line. Student starts were 30,075 vs. 28,030 (+7.3%). (PR)
• Devon Energy (DVN): Q3 EPS of $3.09 beats by $0.03. Revenue of $5.98B (+116.4%) vs. $4.02B. Shares +1.2%. (PR)
• Dollar Thrifty Automotive (DTG): Q3 EPS of $0.89 beats by $0.29. Revenue of $501M (-4.1%) in-line. (PR)
• Domtar (UFS): Q3 EPS of $0.10 in-line. Revenue of $1.63B (-2.1%) in-line. "The depth and duration of the economic slowdown and the impact this may have on office employment and demand for our products are uncertain," company says. (PR)
• Donnelley & Sons (RRD): Q3 EPS of $0.87 beats by $0.01. Revenue of $2.86B (-1.6%) vs. $3.04B. (PR)
• Duke Energy (DUK): Q3 EPS of $0.33 misses by $0.12. Revenue of $3.51B (-4.9%) vs. $3.92B. Sees full-year EPS of $1.22 vs. $1.27. (PR)
• El Paso Electric (EE): Q3 EPS of $0.74 misses by $0.06. Revenue of $153M (+1.5%) vs. $298M. (PR)
• Foster Wheeler (FWLT): Q3 EPS of $0.89 misses by $0.02. Revenue of $1.72B (+32.2%) in-line. (PR)
• General Growth Properties (GGP): Q3 FFO of $0.64 misses by $0.12. Revenue of $815M (+5.7%) vs. $865M. Sees full-year FFO of $2.85-2.95 vs. $3.31. (PR)
• Gerdau AmeriSteel (GNA): Q3 EPS of $0.73 beats by $0.09. Revenue of $2.51B (+80%) vs. $2.68B. (PR)
• Hospira (HSP): Q3 EPS of $0.63 in-line. Revenue of $925.5M (+10.4%) vs. $899M. (PR)
• IAC/InterActiveCorp (IACI): Q3 EPS of $0.25 beats by $0.09. Revenue of $369M (+10.1%) vs. $355M. (PR)
• Kimco Realty (KIM): Q3 FFO of $0.68 in-line. Sees full-year FFO of $2.20-2.45 vs. $2.68. (PR)
• Marsh & McLennan (MMC): Q3 EPS of $0.21 misses by $0.11. Revenue of $2.84B (+4.5%) in-line. (PR)
• Medco Health Solutions (MHS): Q3 EPS of $0.63 beats by $0.01. Revenue of $12.56B (+15%) in-line. (PR)
• MetroPCS Communications (PCS): Q3 EPS of $0.13 misses by $0.02. Revenue of $687M (+23.3%) vs. $711M. (PR)
• MF Global (MF): FQ2 EPS of $0.21 beats by $0.02. Revenue of $373M (-14.4%) vs. $367M. (PR)
• Molson (TAP): Q3 EPS of $0.95 misses by $0.01. Revenue of $921M (-45.3%) vs. $932M. (PR)
• Parker Drilling (PKD): Q3 EPS of $0.20 misses by $0.02. Revenue of $227.5M (+32.1%) vs. $233M. (PR)
• Polo Ralph Lauren (RL): FQ2 EPS of $1.58 beats by $0.33. Revenue of $1.43B (+10%) vs. $1.36B. (PR)
• PolyOne (POL): Q3 EPS of $0.13 beats by $0.03. Revenue of $735M (+10.6%) vs. $719M. "While our results for the third quarter were modestly better than anticipated, our fourth quarter earnings may fall short of our previous expectations." (PR)
• Radian Group (RDN): Q3 EPS of $0.46 vs. consensus of -$1.93. (PR)
• Quanta Services (PWR): Q3 EPS of $0.29 beats by $0.03. Revenue of $1.05B (+60.6%) in-line. (PR)
• Quicksilver Resources (KWK): Q3 EPS of $0.41 beats by $0.07. Revenue of $236M (+48.4%) vs. $228M. (PR)
• Sara Lee (SLE): FQ1 EPS of $0.32 beats by $0.09. Revenue of $3.35B (+9.7%) in-line. Sees full-year EPS of $0.77-0.84 vs. $0.96 and revenue of $13-13.3B vs. $13.89B. (PR)
• SkyWest (SKYW): Q3 EPS of $0.45 misses by $0.03. Revenue of $934M (+6.7%) in-line. (PR)
• Time Warner (TWX): Q3 EPS of $0.30 beats by $0.03. Revenue of $11.71B (+0.3%) vs. $11.9B. (PR)
• Time Warner Cable (TWC): Q3 EPS of $0.31 beats by $0.03. Revenue of $4.34B (+8.5%) in-line. (PR)
• Total (TOT): Q3 profit of €4.07B vs. €3.85B consensus. EPS of €1.81 vs. €1.32 a year ago. Despite crude's recent fall, Total expects higher oil prices in the medium to long term. (Bloomberg)
• Transocean (RIG): Q3 EPS of $3.44 misses by $0.05. Revenue of $3.19B (+107.5%) in-line. (PR)
• United States Cellular (USM): Q3 EPS of $1.02 beats by $0.37. Revenue of $1.09B (+7.5%) in-line. (PR)
• XTO Energy (XTO): Q3 EPS of $1.00 beats by $0.02. Revenue of $2.13B (+49.5%) in-line. Shares -0.7%. (PR)

Earnings: Tuesday After Close

• Blue Nile (NILE): Q3 EPS of $0.15 misses by $0.01. Revenue of $67.4M vs. $68.8M. Shares -12.5%. (PR)
• BRE Properties (BRE): Q3 FFO of $0.72 beats by $0.03. Revenue of $89.4M (+7.5%) vs. $86.1M. Shares +2.4%. (PR)
• D.R. Horton (DHI): Sees FQ4 home sales revenue of $1.5B vs. $1.59B consensus, and net loss of $800-900M. Sees land impairment charges of $1.1B. "Market conditions in the homebuilding industry deteriorated during our fourth fiscal quarter and October, characterized by rising foreclosures, high inventory levels of both new and existing homes and reduced liquidity in the mortgage markets." Shares +3.7%. (PR)
• HealthSouth (HLS): Q3 EPS of $0.15 beats by $0.08. Revenue of $456M (+6.5%) in-line. Shares +10%. (PR)
• Jack Henry & Associates (JKHY): FQ1 EPS of $0.26 misses by $0.01. Revenue of $183M (+4.7%) vs. $187M. Shares -0.8%. (PR)
• Pioneer Natural Resources (PXD): Q3 EPS of $0.91 misses by $0.30. Revenue of $612M (+33.4%) vs. $664M. Shares -10.4%. (PR)
• The Andersons (ANDE): Q3 EPS of $0.70 beats by $0.06. Revenue of $906M (+63.6%) vs. $806M. Shares +0.4%. (PR)
• Ultra Petroleum (UPL): Q3 EPS of $0.78 beats by $0.07. Revenue of $298M (+153.9%) in-line. Shares +2.1%. (PR)
• USEC (USU): Q3 EPS of $0.06 in-line. Revenue of $590M (-7%) vs. $463M. Shares -6%. (PR)
• Ventas (VTR): Q3 FFO of $0.69 misses by $0.02. Revenue of $125M (+5.2%) vs. $121M. (PR)
• Weight Watchers (WTW): Q3 EPS of $0.70 beats by $0.03. Revenue of $353M (+4.5%) in-line. Shares +5.9%. (PR)
• Yamana Gold (AUY): Q3 EPS of $0.05 misses by $0.05. Revenue of $247M (+23.9%) vs. $317M. (PR)

Today's Markets

• Asia markets were mainly higher. Nikkei +4.46% to 9,521. Hang Seng +3.17% to 14,840. Shanghai +3.16% to 1,761. BSE Sensex -4.81% to 10,120.
• In Europe, markets are lower at midday. London -1.45%. Paris -2.1%. Frankfurt -1%.
• U.S. futures are down. Dow -0.8%. S&P -1.1%. Nasdaq -1%. Crude -2.5% to $68.73. Gold +0.5% to $761.

Wednesday's Economic Calendar

• 7:00 MBA Mortgage Applications
  7:30 Challenger Job-Cut Report
  8:15 ADP Jobs Report
  10:00 ISM Non-Manufacturing Survey
  10:35 EIA Petroleum Status
• Notable earnings before Wednesday's open: ABK, AGU, BBG, BDX, CHB, CMS, CNP, COCO, CSE, CTSH, DLR, DUK, DVN, FWLT, GGP, GNA, HSP, IACI, KIM, KWK, MBI, MF, MHS, MMC, PCS, PKD, PWR, RAS, RDN, RIG, RL, RRD, SLE, SVR, TAP, TWC, TWX, UFS, WTR, XTO
• Notable earnings after Wednesday's close: AHT, ATVI, AVB, BDN, BEE, BEXP, CCI, CDNS, CECO, CEDC, CNO, CSCO, DOX, EGLE, EXM, GDP, GXP, HTZ, KEG, LEAP, MDR, NWS, OKE, PVA, SCI, SHO, SUN, SVNT, THQI, TWTC, URS, VMC, WFMI, XCO

Seeking Alpha editor Rachael Granby contributed to this post.

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Comments

[PIA:]

Difficult markets and times have provided Comrade Obama a unique window to enter through this perfect storm.

In 2009 and 2010, the real test of his message of Hope, Charisma and Oratory meet the reality of Economics, Mathematics and History.

Barack Hussein Obama swims “naked” and the American Constitutional election process will allow us to ONCE AGAIN ‘correct course’ as we did after the collapse of the conservatives with Carter’s 1976 election from which the 1980 election of RONALD REAGAN was born. .and the 1992 election of Clinton from which the 1994 watershed election of the Conservative Congress of 1994 was born for a brief 4 year triumph from 1995-98.

I expect that the Congressional elections of 2010 and 2012 will provide for correction to this ‘vote of hope, charisma & empty oratory’ for which 52.5% of Americans hang their false hope. The Presidential election of 2012 awaits Comrade Obama 48 months from yesterday.

Barack Hussein Obama, Pelosi, Reid, Dodd & Barney Frank HAVE NOT REPEALED the realities of ECONOMICS, MATHEMATICS and HISTORY.

They SWIM NAKED in ROUGH WATERS and HISTORY will not take long to FLUSH THEM OUT.

Keep the faith in the American Experiment.

2008 Nov 05 08:16 AM

[axelrod608:]

PIA hard to contain your enthusiasm I see.

2008 Nov 05 08:46 AM

[Vin Diesel ...:]

Keep the faith in the American Experiment.

2008 Nov 05 08:46 AM

[applesauce:]

Tax receipts will jump in the short run as anyone including Wayne Huizinga will sell anything with a cap gain to aviod the soon to come spread the wealth tax plan.

2008 Nov 05 08:49 AM

[Boulderbiker:]

PIA, you obviously are not a REAL American. Please leave the country.....

2008 Nov 05 09:01 AM

[long_on_oil:]

PIA Even though I could not put them down on paper, you took the words from my mouth. Fantastic post. I will print out for my friends to read. You hit the nail smack dab on the head.

2008 Nov 05 09:08 AM

[conncurt:]

Comrade? Please! Why not give the man a chance and be supportive until he proves you right or wrong?


On Nov 05 08:16 AM PIA wrote:

> Difficult markets and times have provided Comrade Obama a unique
> window to enter through this perfect storm.
>
> In 2009 and 2010, the real test of his message of Hope, Charisma
> and Oratory meet the reality of Economics, Mathematics and History.
>
>
> Barack Hussein Obama swims “naked” and the American Constitutional
> election process will allow us to ONCE AGAIN ‘correct course’ as
> we did after the collapse of the conservatives with Carter’s 1976
> election from which the 1980 election of RONALD REAGAN was born.
> .and the 1992 election of Clinton from which the 1994 watershed election
> of the Conservative Congress of 1994 was born for a brief 4 year
> triumph from 1995-98.
>
> I expect that the Congressional elections of 2010 and 2012 will provide
> for correction to this ‘vote of hope, charisma & empty oratory’
> for which 52.5% of Americans hang their false hope. The Presidential
> election of 2012 awaits Comrade Obama 48 months from yesterday.
>
>
> Barack Hussein Obama, Pelosi, Reid, Dodd & Barney Frank HAVE
> NOT REPEALED the realities of ECONOMICS, MATHEMATICS and HISTORY.
>
>
> They SWIM NAKED in ROUGH WATERS and HISTORY will not take long to
> FLUSH THEM OUT.
>
> Keep the faith in the American Experiment.

2008 Nov 05 09:57 AM

[dave mckay:]

As the saying goes.."I never got a job from a poor person." When Obama raises taxes on the people who create the jobs, how exactly will that get people back to work? If he wants a govt. jobs program, that will expand the deficit. So he can't win. Our corporate tax rate is not globally competitive, but Obama won't cut that. That would create jobs. So, Obama is going to do everything possible to be a one man job killing machine.

2008 Nov 05 10:05 AM

[eddie6442:]

ECONOMICALLY PROVEN JOB DESTROYERS:
[1] HIGHER CORPORATE TAXES;
[2] MORE CORP REGULATIONS;
[3] TRADE PROTECTIONISM;
[4] EXPANDED FORCED UNIONIZATIONS;
[5] TRIAL LAWYERS W/O LIMITS;
[6] EMPLOYER MANDATED COST INCREASES, eg. MEDICAL BENEFITS, EMPLOYER MATCHING FICA "UNLIMITED", ADD ON REGULATION COMPLIANCE, etc;
[7] CARBON EMISSION TAXES/PENALTIES = BANKRUPTCIES;
[8] INCREASED MINIMUM WAGES;
[9] EXCESS PROFITS TAXES;
[10] NO MORE DRILLING.................

****HEY****AMERICANS JUST VOTED FOR ALL THESE!!!!!!!!!!

2008 Nov 05 10:25 AM

[fastcad:]

It seems that the right wing is not happy with the outcome.
I along with the majority of America have seen the outcome of
Reaganomics and they do not produce real wealth or real jobs.
This ecomony runs on consumer spending not giving tax welfare to
the rich. Everyone has to pull there own weight.
The removal of regulations by the Republicans has cause our economy
to run amok. It is like removing a regulator from a small engine, it will run very fast till it blows up.
Believe it or not, the earth is warming up, which my cause extinction of the human species, so what good is money if your dead.
As Bush put it in so many ways, "my way or the Highway", well the people voted.

2008 Nov 05 10:45 AM

[Richard Col...:]

We need to get rid of both the Democratic religion and the Republican religion.

VOTE INDEPENDENT TO GET REAL LEADERSHIP.

2008 Nov 05 11:31 AM

[Mioracle:]

Yes, with the new tax rates, I guess we;re headed back to the nineties. Damn, the economy sure sucked then. All those rising stock values, balanced budgets and low unemployment.

Most MCain supporters exiting the way they came in: no class whatsoever.
Maybe they can take a lesson from their failed candidate himself who actually sadi something about working together to solve our problems

2008 Nov 05 11:36 AM

[jackooo:]

PIA

Right on.
Now we can listen to 4 yrs. of African-American rhetoric. From slavery to civil rights.
Stupid Americans.

2008 Nov 05 12:08 PM

[axelrod608:]

When George W Bush was first nominated, I found and read a biography of him since I didn't know anything about him. As a result, I was not a fan. Nevertheless, I held my tongue and gave him the opportunuity to prove to me and my fellow Americans how he would govern. And only after he did what he did, did I criticize.

Clearly, many will not give this President a honeymoon for 100 days, nay, even 100 minutes. Most of the criticisms of Obama made by the Republican campaign have been proven to be lies. Those that are not downright lies are distortions and inaccurate interpretations.

W need some civility in our world. Without it we are no better than the radical terrorist lunatics that renounce absolutely everything and everybody who differs from their beliefs.

If you make more than $250,000 a year, you can afford to pay a small amount more in taxes. I make a fraction of that in retirement and could afford it. I'm sick, tired and fed up with whiners who look solely at their PERSONAL interest above the nation's interest. This nation has one of the lowest income taxes in the world - why do you think most of the world's wealthy people move here ?

In good times, it may make sense to lower taxes to spur economic growth. You should read what Arthur Laffer REALLY wrote rather than the Cliff's notes version spewed by the talking heads on TV. Laffer himself recently said it would not benefit the economy to lower taxes on the rich at this time in this economy.

People who want to starve the IRS given the massive discrepancy between revenue and spending that exists today want to kill the US government and the US economy. The situation is unsustainable. (Personally, if it would also kill the two ruling parties - the Republicrats - I'd be in favor as well).

United we stand, divided we fall. When you choose sides, choose wisely.

2008 Nov 05 03:04 PM

[bbowen7:]

The selection of the new Treasury Secretary will be momentous as an indicator. The short term problem is getting the financial system going, and minimizing the pending recession; however, the next problem will be the total lack of financial discipline (by the Bush administration, the congress, and the Obama campaign pledges.) Taxes will come in the form of inflation.

2008 Nov 05 04:33 PM

[NOWHEREMAN:]

I wonder if Barack will start using his full name now?

He has managed to convince the African American community that he is one of them. 20% African does not make him an African American, not even close.

If he follows his heritage, it will be his white heritage, 80%.

Get used to it, you've been had.

2008 Nov 05 10:05 PM

[NOWHEREMAN:]

He will do what his advisors tell him to do, how many African Americans are among his advisors?

My guess is that his cabinet will be all white with the possible exception Of Colin Powell.

Personally I hope he stands up for himself and lives up to some promises. Otherwise, the Democratic business as usual will only last til the next election. Nov.,2010

2008 Nov 05 10:12 PM

[James Wilson:]

UBS extremely weak short them out of business

2008 Nov 06 03:59 PM

[James Wilson:]

High taxes and regulations makes sure that your able to actually live on this planet without being in a hazard suit 24/7 dummy .
Taxes make sure that raw materails are not wasted so do access fees.
You can not run a Linear system on a Finite Planet very long without destorying the planet you live on.
Consumerism is a Linear System you have to turn more stuff to trash everyday just to feed the money machines.


On Nov 05 10:25 AM eddie64 wrote:

> ECONOMICALLY PROVEN JOB DESTROYERS:
> [1] HIGHER CORPORATE TAXES;
> [2] MORE CORP REGULATIONS;
> [3] TRADE PROTECTIONISM;
> [4] EXPANDED FORCED UNIONIZATIONS;
> [5] TRIAL LAWYERS W/O LIMITS;
> [6] EMPLOYER MANDATED COST INCREASES, eg. MEDICAL BENEFITS, EMPLOYER
> MATCHING FICA "UNLIMITED", ADD ON REGULATION COMPLIANCE, etc; <br/>[7]
> CARBON EMISSION TAXES/PENALTIES = BANKRUPTCIES;
> [8] INCREASED MINIMUM WAGES;
> [9] EXCESS PROFITS TAXES;
> [10] NO MORE DRILLING.................
>
> ****HEY****AMERICANS JUST VOTED FOR ALL THESE!!!!!!!!!!

2008 Nov 06 04:03 PM

[James Wilson:]

We you kids get tired of playing with money wake up to the real world. You can not run a Linear Sytem on a Finite Planet very long without destroying the planet.
If you don't hjave kids and don't care about the future then you got a problem because many more of us do and we want our kids to be able to breath clean air, drink clean water and live like human not like gopher in a hole to aviod the polluation.


On Nov 05 08:16 AM PIA wrote:

> Difficult markets and times have provided Comrade Obama a unique
> window to enter through this perfect storm.
>
> In 2009 and 2010, the real test of his message of Hope, Charisma
> and Oratory meet the reality of Economics, Mathematics and History.
>
>
> Barack Hussein Obama swims “naked” and the American Constitutional
> election process will allow us to ONCE AGAIN ‘correct course’ as
> we did after the collapse of the conservatives with Carter’s 1976
> election from which the 1980 election of RONALD REAGAN was born.
> .and the 1992 election of Clinton from which the 1994 watershed election
> of the Conservative Congress of 1994 was born for a brief 4 year
> triumph from 1995-98.
>
> I expect that the Congressional elections of 2010 and 2012 will provide
> for correction to this ‘vote of hope, charisma &amp; empty oratory’
> for which 52.5% of Americans hang their false hope. The Presidential
> election of 2012 awaits Comrade Obama 48 months from yesterday.
>
>
> Barack Hussein Obama, Pelosi, Reid, Dodd &amp; Barney Frank HAVE
> NOT REPEALED the realities of ECONOMICS, MATHEMATICS and HISTORY.
>
>
> They SWIM NAKED in ROUGH WATERS and HISTORY will not take long to
> FLUSH THEM OUT.
>
> Keep the faith in the American Experiment.

2008 Nov 06 04:07 PM