JLH

In Memory of Greg Newton

On Fourth of July weekend Greg used to come to my house in CT. I couldn’t leave the house for the fireworks because of the explosive noise and a very skittish dog. Greg, instead of being in the middle of the party would stay back at the house, put my dog in his lap facing him and while the bursting in air was going on all around, Greg would recite dirty limericks and sing NZ rugby songs to my dog. It seemed to help – but then again, his special brand of humor always did. I am late to this news and very sad.

There once was a fellow named Greg.
Who ousted the Wall Street dreg.
Never for a loss our dear poet
With cheek he did wrote it ’
And now who will take the dreg down a peg.

RIP friend.

Karen Weaver of Deutsche Bank says the recent pleasing numbers may be just the eye of the housing hurricane. (video, 4:54)

October 15, the 1% will file their tax returns having received their K1's - it being the last 2008 IRS deadline. Should be interesting when the IRS comes up short, billions. Triple that for 2009. Hey-- I know--, duh, here's an idea...NATIONAL SALES TAX - NO IRS. Every single item in the US from Gum to Yachts is taxed 1%. It captures the hand-out crowd, the pretend ministries, the churches, the criminality of the 501c3's , the illegals, the Senate, the head of the IRS, and it isn't skewed by affirmative action or loopholes. The rich pay without deductions, giving to charity is now from the heart not from the IRS, and the poor (I mean the on-the-dole's) finally feel what its like to give their money to the govt. It is put in the hands of the vendors who send it to the state tax authority, who sends it to Washington. Let the States be responsible. States keep a percent based on population which eliminates state taxes and earmarks and congressional favors, and it takes we the people out of being Tsar'd and feathered. It can be done for next year, but of course it would be too transparent for this uneducated group of morons running our country right now. Want to hear my ideas on TERM LIMITS for 2010! --

Sara Lee: Management Succumbs to Analyst Criticism

Still short - Didn't like Barnes at Pepsi, don't like her at Sara Lee.

Nobody Doesn't Like Sara Lee - Except Wall Street

I'm out. U Still Long?

Nobody Doesn't Like Sara Lee - Except Wall Street

I'm short.

IStar's Dividend Appears to Be in Jeopardy

The company had a large addition to its non performing loans this quarter, but the company is giving investors confusing guidance as to the 09 dividend outlook. Impossible it seems to get a straight answer. I would load up on the stock but fear the 09 dividend might be in jeopardy. How about some clarity.