coloneldebugger

For a jobs fix, Bruce Krasting signs on to the NFIB's idea to eliminate payroll taxes for a year, for a $680B shot directly to the American small-business arm. A "means tax" on Social Security benefits would protect the trust fund from devastation, he says.

Brilliant idea. This is in no way exactly like the cash for clunkers programs. Not a single bit.

“We participated in things that were clearly wrong and have reason to regret. We apologize.” - Goldman Sachs (GS) CEO Lloyd Blankfein, saying the bank is sorry for its role in the financial crisis.

Lloyd Blankfein, "I am sorry. I am oh so sorry. I offer my heartfelt apology for making billions and billions of dollars of profit off the government hand out. I simply cannot tell you how horribly sorry I am that we somehow never seem to have a losing day in our trading. I am sorry we're doing God's work.

And finally, I'm sorry."

Sure, someone may have made a lot of money on 3Com (COMS) options as its acquisition by Hewlett-Packard (HP) was announced, but insider-trading conspiracy theorists are ahead of themselves, says Ultimi Barbarorum. Options deals are lumpy by nature, and it could just be short covering at work.

maybe the investigation needs to start with Ultimi and his friends and family?

Dollar's Decline Has Contributed to Market's Recent 'Rise'

There are so many charts out there right now that have the same exact look. There's no telling who is actually leading and who is following.

S&P is reviewing whether to strip Berkshire Hathaway (BRK.A +1.3%) of its top AAA credit rating after Warren Buffett's company agreed to buy Burlington Northern (BNI). The ratings firm says the deal will decrease liquidity and capital adequacy at Berkshire's insurance operations.

Sounds more like someone at the S&P has a burr up their butt about Buffett

ICSC retail sales: +0.1% W/W. +1.9% Y/Y, down from 2.4% and 2.8% in the prior two weeks. Weekly sales were hurt by warmer weather, but for the month, sales performed "reasonably well," ICSC says.

Let's sum this up for everyone....

warmer weather is a problem for shopping.

colder weather is a problem for shopping.

rainy weather is a problem for shopping.

snowy weather is a problem for shopping.

Lawyers in California have asked a judge to bar AIG (AIG) from transferring money out of the state for 90 days, out of concern it won't have enough readily available assets to back its policies.

and why exactly should the lawyers care about this and not the policy holders? or do the lawyer profit more from claims?

White House data due out this afternoon will show the government's economic stimulus programs created or saved about 650,000 jobs through Sept. 30 - a figure officials are prepared to tout as a significant success. The reports cover only $150B of the $339B in stimulus spending that occurred through that date. Yesterday, the White House lashed out (I, II) at an AP report saying it overstated stimulus jobs, and at an Edmunds.com note that took cash-for-clunkers to task.

oh deary me, is the horrible media daring to contradict our precious infallible emperor?

Natural gas moves higher after weekly inventories increase by 18 billion c/f vs. consensus of 21 billion. Dec. natgas +0.6% to $5.826.

how is there even storage room left for this stuff at this point?

Pictures and details of Barnes and Noble’s (BKS -5.9%) new e-book reader have leaked, "and it is hot, both inside and out," Wired says. "If you just ordered a Kindle (AMZN +0.5%), stop reading now or you’re in for a giant dose of buyer’s remorse." The reader, due out today, will allow loaning ebooks to friends - which could destroy the Kindle walled-garden model.

Because there is so much less music being produced now? The "napster model" only hurt the record companies, not the artists. If applied to the book industry it will hurt the publishing houses, not the authors. In the end we might miss out on those brilliant books written by the president's dog.

The music industry's mistake was not embracing the technology, learning to use it to their advantage instead they tried to fight it.


On Oct 20 11:15 AM tripleblack wrote:

> Napster for books. Without the ability to get paid for their work,
> the authors (already under assault from failing publishers everywhere
> who are cutting back on the number of titles they will publish per
> year) will see their "professions" turn to "hobbies".
>
> The music industry has been seeking to straighten out this model
> for the last decade, without success, despite some really strong
> laws installed to protect their interests.
>
> Unlike movies, where the "date" phenomenon has kept theaters alive
> for ages, and a similar relationship between music and concerts,
> books have no such cultural prop.

Pocket Change Portfolio Update: September 2009

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As part of an overhaul of the Enforcement Division announced last month, the SEC has reportedly hired Adam Storch, 29-year-old ex-Goldman Sachs (GS) fraud analyst, as the unit's first chief operating officer.

fox running the hen house

MGIC Investment (MTG): Q3 EPS of -$4.17 misses by $2.55. Revenue of $413M (-10.5%) vs. $437M. Shares -12.6% premarket. (PR)

it's like MaGIC, the share price disappeared

Richard Bernstein, former chief investment strategist for Bank of America, now says he "underestimated the rebound" after his March 23 advice to sell bank stocks. Indeed: Seventy-nine banks, insurers and investment firms have gained 155% since March 6. S&P Financials were up 3.4% yesterday to lead the stock rally.

maybe he had some hidden motive to buy up the shares from the suckers who actually sold?

S&P drops the credit rating of Southwest Airlines (LUV -4.4%) a notch, citing cash-flow effects of lower demand and higher fuel prices.

what is there about the current market that does make sense?


On Oct 15 12:02 PM a fat panda wrote:

> It is odd that the market would punish LUV more than the other airlines
> over demand and fuel prices. LUV's cash-flow might hurt a bit, but
> it isn't going out of business where as any of majors might well.