OldNavySailor

Failures Friday: Four More

Actually, seven (7) banks failed on Friday. making a total of 106 for 2009. (see www.fdic.gov/bank/indi...).

Microsoft Wins, Yahoo Folds, Google Reigns

Carol Bartz clearly deceived shareholders about accepting ANY offer from Microsoft without a capital outlay as part of the deal (a.k.a. "boatload of cash"). She has a responsibility to the investing public to be truthful and she was just the opposite. Her comment about money upfront was not rhetorical, but a statement of fact that ultimately mislead the investment community to purchase shares/call options of Yahoo.

This deception is grounds for a class action suit against her and the board of directors of Yahoo.

Bringing Kodak into Focus

Ex-Daker is correct in his assessment of Kodak Park (renamed Eastman Business Park) environmental liabilities.

Despite successful marketing as a photographic company, Kodak made its money in photofinishing chemicals provided to dealers around the world. Photo chemical consumption was the real cash generator, not just camera film sales. The company also manufactured and sold specialty chemicals not related to photography that was another big money maker.

When George Fisher left Motorola and was contracted by Kodak as its CEO, his strategy was to establish the foundation for digital photography and to gradually abandon the chemical business. Fisher's vision for the new burgeoning electronic image capture business was short sighted as he did not take into consideration the potential competition that would emerge from the multitude of electronic related companies who also saw the marketing and sales potential of the new photographic industry. Kodak simply could not compete against smaller companies that turned out products and services faster from conception to final delivery to the consumer.

In hindsight, Kodak should have stayed in the chemical business because it already had a fully compliant national program to address the environmental issues dealing with chemical manufacture, distribution and disposal. It employed some of the most innovative chemists in industry and had a distribution network that successfully competed with larger chemical corporations.

It is very difficult to start up a chemical company compared to what it takes to start up an electronics company. Kodak would be thriving today if it wasn't for the board of directors at that time who did not understand the underlying value of Kodak's chemical manufacturing business.


On Jul 15 11:52 AM Rod wrote:

> Are you sure about the chemicals? Eastman Chemical was spun off
> many years ago. Check ticker symbol EMN, Eastman Chemical Company.
>

How Precious Metals Can Preserve Your Wealth

Okay, I have to ask some practical questions about purchasing and exchanging PM (precious metals) before the economy collapses. I've never bought and owned the commodity and ask you experienced people out there for some guidance.

1. How do I buy PM and how do I know if what I'm buying is real and not fake? Is there a "gold/silver/platinum" test kit? Don't tell me that I should seek "certified" or "reputable" dealers. I want proof that what I'm buying is real and not some alloy of PM and non-PM metals. How do I know?

2. Is it better to take physical possession or keep it stored at a private company site? What are the costs (monthly, annually) and can the government grab the PM?

3. What will be the mechanism be for retail stores to value and accept PM when I go to purchase food, gasoline, clothing, etc. and other staples of life?

4. Is there a website that can answer these basic questions?

I appreciate any help you can offer.

Wall Street Breakfast: Must-Know News

I second my fellow Alpha Mate's request. We used to receive one email with all the articles we were interested in reading/commenting. The new process is too cumbersome and unwieldy.


On Jul 07 10:21 AM axelrod608 wrote:

> PLEASE return to the old format listing SA articles.

Time for California Muni Bond Investors to Take a Stand

The fact that California is issuing IOU's as a substitute for payment for contracted services is a violation of Article 1, section 10, clause 1 ("Contracts Clause") of the United States Constitution; to wit:

"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

These IOU's are nothing more than Bills of Credit, which is prohibited by the Constitution. They can make gold or silver coins as a tender of payment, but not an IOU (see Craig v. Missouri, 29 U.S. - supreme.justia.com/us/.../)

How the Internet Is Wreaking Havoc on Media Companies

I disagree with the negative posts concerning the Internet trouncing competition that results in havoc for the American worker. The Internet stimulates competition and does not reduce it. Yes, there is local employment loss, but it's not because of "unfair competition"; it's because of rigid government regulations and taxation policies that muck up the marketplace.

First of all, what is the "Internet"? It is am evolutionary mass marketing electronic platform for consumers, political activists, investors, etc. linking people with producers of goods and services as well as a vast library of historical and contemporary knowledge worldwide. Although it touches many industries, it does not affect all of them. For example, if I need to research a provider of professional services (e.g., doctor, lawyer, etc.), I'm able to do research the creditability of that person because of the World Wide Web. I still receive the service (generally speaking) locally.

Yes, I can purchase many products cheaper online and not avail myself of the local "brick and mortar" store. But I pay shipping and handling charges, which brings the cost closer to what I can buy it for locally. Instead of government maintaining the taxation rates on local business, it should reduce the consumer sales tax rate, thereby spurring competition. But does government do that? No, it doesn't.

Government is the beast that restricts the free market through its socialist programs and failed monetary policies, not the Internet/World Wide Web.

Leave the Internet and the World Wide Web free and unfettered from the clutches of government!

Why Credit Card Interchange Fees Should Come Down

I have totally removed myself from this point of contention because I no longer use credit cards. I use cash to pay for my purchases. Retailers like to see me because they know I'm saving them the cost of the interchange fee. I still purchase things that I need as much as before, just not with that plastic debt maker.

Perhaps American retailers should develop a marketing plan to incentivize customers who pay for products or services with cash instead of credit. A national initiative like this would encourage people to think about the importance of money and real wealth, not debt.

Starve the Economic Beast, Part 3

Another truthful article on the insidious collusion between government kleptocrats and the international banking elitists to steal our wealth, property and freedoms. Thank you again, by Mr. Quinn.

As I responded in my post on May 25 (see: seekingalpha.com/user/...) we CAN defeat this corruption by taking away what is more precious to them then their immoral souls; their worthless fiat paper money.

We possess the power and conviction to turn our economic ship away from the disastrous waves of inflation and back towards the calmer seas of fiscal prudence and prosperity. The American people must be awakened and the only way is for authors such as James Quinn to keep hitting the public with the facts about the illusion of 'government knows best'.

Take out that piece of plastic from your wallet and set it down on the kitchen table; look at it. What do you see? Is it a measure of purchasing convenience or is it something more? In reality, it is a monstrous vehicle that has been unleashed upon the public to lure you into the realm of fictitious wealth.

I have eliminated credit card dependence by using cash, pay for online products through EFT (electronic funds transfer) and applying for and receive small, short term loans when needed from my local credit union. I am in control of my fiscal house and you must be as well.

The great journey of economic liberty starts with one step, one proclamation of freedom from debt, one act of defiance. This is war; a just conflict against the tyranny of exploitation by an illegal authority whose sole purpose is to enslave people through financial obligation.

Take that first step my fellow Alpha Mates and be free.

No State Prosperity = No National Prosperity

Here in New York, the teachers' union continues to exert its political influence on the political elitists who accept campaign bribes to stay in office.

700 teachers are paid their full salaries while they wait for administrative hearings on the merits of their dismissal from the schools. This union concession is costing New York taxpayers $65 million fiat dollars per year (see the following article
www.huffingtonpost.com... )

Ain't socialism grand!!

11 Risks Threatening the World Economy

I suggest adding number 12: "Rise in government spending"

How is government going to pay for all these new and temporary public projects? By adding the unproductive burden of taxation and regulation onto the backs of the wealthy, large and small business and the taxpayers.

Government's contribution to the economy by means of spurious monetary growth creates a false illusion of fleeting prosperity that cannot be sustained.

National Sales Tax on the Way?

Another example of lies and deceit put upon American citizens. The only "value added" for this nefarious national tax is the continued financial support of a corrupt and self-serving government. Once the politicians open the door and force the states to collect a national sales tax there will be no end to the legislated theft of your money. I don't care if other socialist governments in the world collect a consumer tax (including Canada); all taxes are an abuse of individual liberty.

To think some of the posters on this topic support a VAT is incredulous. Maybe we should allow government to nationalize the majority of private business and become a pseudo-communist state like the business model embraced by China?

What the hell is the matter with you people? Are you free market capitalists or communists?

I support a REDUCTION in all forms of income tax; a REDUCTION in regulations that burden business with unproductive paperwork, reporting procedures and unnecessary expense that only benefit the public employee.

America needs a re-growth in private enterprise to spur employment, not more taxes. More political interference to favor one group of voters over another will destroy your wealth, steal your property and weaken you freedoms as Americans.

Show some backbone; show some outrage; show some courage and speak out against this blatant tyranny of enslavement!

The Undefinable, Unstoppable Bull Market of 2009

You write like Bob Chapman, a great friend of free market capitalism!


On May 31 11:02 AM Burticus wrote:

> The spike in stocks in the last hour of the month is an obvious tape-painting
> exercise by the FedGov plunge protection team and their bankster
> cartel masters. Gubmint intervention and manipulation in FOREX,
> commodity, bond and stock markets has now become routing. Nobody
> and nothing paper/electronic can be trusted any more and no technical
> or fundamental analysis can be relied upon without considering the
> missing PPT internention piece of the puzzle.
>
> Following the massive decline in stocks through November and again
> in March, a "dead cat bounce" or bear rally is no surprise. They
> happened repeatedly in the first depression. Clearly, the current
> rally in stocks is not supported by any fundamentals, since the only
> good news these days is less-horrible news. There is not one positive
> fundamental economic or financial trend, except that the Asians may
> finally accept and take their dollar-paper lickin' and throw the
> western millstone off their necks.
>
> The missing piece of the bear/suckers' rally puzzle is the Illuminist
> plan for Big Sting II - completing the destruction and looting of
> Amerika and crushing its middle class in preparation for global political,
> social and economic control. Use the media propaganda machine, gubmint
> manipulation and Goldman/JP Morgan gangsters to pump up the Dow to
> 10,000. Lure the unwitting sucker-dupe sheeple (who actually work
> for their money and try save it by investing) into the market, allowing
> the insiders dump their paper in opaque OTC markets. Accelerate
> out-of-control gubmint spending and central bankster money-printing
> to doom the dollar, Treasuries and the broader bond market, closing
> off the sheeples' usual escape route. When the stock market is high
> enough, the bankster cartel will give the nod to their puppets in
> the Fed, gubmint and media, short everything, and send the stock
> market to new lows, plucking the chickens again on the way down.
> When there is widespread capitulation and blood in the streets, the
> insiders will buy up everything real, especially gold and silver
> (which will go on a moon-shot), companies at pennies on the dollar
> and farmland.
>
> Welcome to a fascist/socialist/comm... economic system under an political
> oligarchy by the elephant/jackass party! Sure, traders with good
> information and quick reflexes can profit in this type of market,
> but for your average working stiff, the only no-brainer safe investment
> will be physical gold and silver.
>
> Disclosure: Long physical silver & gold, CEF, steel & lead,
> non-perishable food and hangin' rope

Is California in Need of a Bailout?

You know there will be "strings attached" to any federal bailout money for California, just like the insolvent banks and automotive companies.

Is that what the sensible people of California want, more federal intrusion in their lives?

This economic crisis is an opportunity for Californians to reclaim their wealth, property and freedoms by rejecting ANY federal bailout money! This will force the kleptocracts in Sacramento to downsize; a good thing for the great state of California!

Who Owns the Fed?

Write your congressman asking him/her to support Congressman Ron Paul's bill HR-1207 "Federal Reserve Transparency Act" (currently 179 co-sponsors). America needs the Federal Reserve to be held accountable to the people!