Goonghaeng

The climate story of the day, Clean Air Watch president Frank O'Donnell writes on his blog, isn't the psycho-drama being played out in the Senate Environment and Public Works Committee (webcast), but rather Warren Buffett's (BRK.A) decision to buy the coal-hauling Burlington Northern Santa Fe (BNI) railroad. "This is a $34B bet that coal will remain the centerpiece of American energy policy in the future. Buffett clearly believes that coal use will remain strong - and possibly grow."

It's an interesting spin on Warren Buffet's move, though I have to say it's a little bit out there. May be Mr. O'Donnell has been tanning on solar panels a little too much.

SSS #2: Costco (COST) -7% vs. -6.5%. Dillard's (DDS) -12% vs. -13.5%. Fred's (FRED) -4.6% vs. +1%. Hot Topic (HOTT) -8.5% vs. -8.4%. Limited (LTD) -7% vs. -11.7%. Stage Stores (SSI) -10.1% vs. -8%.

I don't believe that consumerism is over. It's just on hold... for a few years. Americans love to spend. Bigger, better.

UBS (UBS), U.S. reach agreement in principle on the major issues in IRS tax case. Meeting with judge set for Aug. 7. (WSJ) Shares +6% premarket.

When I grow up, I hope to have a Swiss account.

A Kindle (AMZN) for every student?

This is one of the most stupid ideas I've heard in a long time. ROI doesn't make sense at this point, especially when the government is broke. Ya - may be when we have a surplus. When our education system is broken, it doesn't mean that because we don't have access to books. Handing out Kindle is not going to solve our education problems. How about printing cheaper books to start? Books in many countries are lighter and cheaper. Yes, the paper is much thinner, but who cares! You can still read the text. Or how about taking that money setting aside for Kindle and invest it in better meals for the kids or other programs to enhance their learning. Seriously.

Man, Amazon must be lobbying hard to boost the sales of its Kindle.

$23 quadrillion. That's one expensive pack of smokes.

LMAO!


On Jul 15 10:59 AM herbert hoover wrote:

> Maybe they accidentlly charged him for the AIG bailout.

UBS (UBS) to U.S., Swiss governments: You guys figure this out.

$5.5 billion sounds enticing, but that's not the point, is it? Tax cheaters still go free, with no consequences. If these people have broken the law, then they should face consequences. Otherwise, we need to fix our law so that loopholes don't exist (or at least not that big).

I thought Marketwatch was trying to make UBS sound like a victim here.

GM emerges from bankruptcy. Product czar Bob Lutz to stay on. Press conference at 9:00, here.

Well, isn't that special.

Burger King's (BKC) new marketing strategy: Target a different international market each month with an ad that offends some segment of the population. Then, after garnering enough attention, apologize and pull the ad.

That's one way to get people to talk about you again, I guess...

Three lunchtime reads: 1) Roubini: Brown manure, not green shoots 2) Seven companies that upped 2Q views 3) Yen: Safe haven, but for how much longer?

Boy - feel like slitting my wrists after reading Roubini's article. So gloom, so doom. There's no point... Can't... go... on...

After the Swiss government said it would seize some UBS (UBS) data rather than let the U.S. government get hold of it, a judge gives the U.S. a Sunday deadline to say whether it's prepared to shut down UBS in the country.

Oh, yeah - that's what I'm talking about!

Iran is just 1-3 years away from acquiring a nuclear bomb, and the clock is ticking for the international community to prevent it, Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, says.

Blegh - 1 to 3 years away could be more like 7 to 21 years. Kinda like in dog years. This is an old news; nothing to get excited over. We all know that Iran has been working to get their hands on nuke. I haven't heard what we're planning to do about it.

The Swiss government says it will seize UBS (UBS) data if necessary to keep information about 52,000 American account holders out of the hands of the U.S. Justice Department.

I agree. Kick UBS out of our country. It's a total bs that the Swiss government is stepping in like this. So I guess this is what the Swiss' economy minister meant when she said they want this issue to resolve quickly.


On Jul 08 07:58 AM Neil459 wrote:

> This is ridiculous. UBS admitted violating US law, operated in the
> US without a license, assisted US citizens in violating the law to
> avoid taxes. Who cares about the names, if UBS does not want to
> provide them and is backed by the Swiss government , then fine them
> $1T. Budget problem partially solved by the lawbreakers.
>
> Lets get our priorities straight.

The IMF is planning to issue up to $150B in bonds, its first issue ever, an insider says. The move will allow larger emerging-market countries to boost their IMF contributions, in the hope of increasing their pull at the fund.

Can't wait to see how this will impact our economy. Dollar could sink further... Treasuries could be less desirable... Stay tune!

Four Keys to Obama's Economic Gameplan

I agree with the comment that "cash" made above. People are not likely to spend money due to the uncertainty. They would either pay down their existing debt or save it. People mostly spend out of their permanent income. If you're even nervous about losing your job, chances are you won't spend anymore than necessary. The government has a certain percentage of spending anyway. The stimulus package is just much more than the "normal" spending.

Is Oil Demand Falling Off a Cliff?

I'm not sure what factors go into the EIA figures, but aren't the Southeast US suffering from gasoline shortages? If so, then it's not so much that the demand has been falling off the cliff, but rather the supply has plummeted.