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nyuszika45

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  • Lawyers who earned hundreds of millions suing Big Tobacco are now going after major food companies such as PepsiCo (PEP), Heinz (HNZ) and General Mills (GIS) for wrongly labeling products and ingredients. One gem is calling sugar "evaporated cane juice," while rather more scarily, a ConAgra (CAG)  "propellant" in Pam cooking spray includes petroleum gas, propane and butane. [View news story]
    It is merely a dimension of the re-emergence of mercantilism, or as it is recognised today, corporatism. It owns the US, its government, and the people it employs. The only good thing used to be that most people worked outside this cage, but perhaps that is not so anymore. Sad.
    Aug 19 01:26 PM | Likes Like |Link to Comment
  • Lawyers who earned hundreds of millions suing Big Tobacco are now going after major food companies such as PepsiCo (PEP), Heinz (HNZ) and General Mills (GIS) for wrongly labeling products and ingredients. One gem is calling sugar "evaporated cane juice," while rather more scarily, a ConAgra (CAG)  "propellant" in Pam cooking spray includes petroleum gas, propane and butane. [View news story]
    Yeah, yeah, yeah... but they still won't tell you things about processes used, such as for those sculpted small carrots and the reason they get a white dust on them is that they are soaked in chlorine solution for preservation before packaging. While I hear scary stories from former McDonald's employees, one can only wonder about the process issues one might find therein.

    Bon apetit!
    Aug 19 04:29 AM | Likes Like |Link to Comment
  • Not many of those involved in the Barclays (BCS) Libor scandal come out well in a U.K. parliamentary report that was released yesterday. Barclays is slammed for its "deeply flawed" culture, Bob Diamond for his unforthcoming and selective testimony to a parliamentary panel, BOE Governor Mervyn King for forcing Diamond to quit, and the FSA regulator for being behind the curve. [View news story]
    So, will we get a performance of 'mea culpa' on this side of the pond? Or, will it be another SEC rug thrown over? Or, will there be real consequences? hehehe Sorry, I got silly there for a moment.
    Aug 19 04:02 AM | 1 Like Like |Link to Comment
  • Greek finmin officials have reportedly calculated that if the country is given 2 more years to reduce its budget deficit, GDP will contract 1.5% next year and grow 2% in 2014 as opposed to falling 4.5% in 2013 and not recovering until 2015 under the current timetable. Greek PM Antonis Samaras will attempt to persuade German and French leaders this week to allow the extension. [View news story]
    How long is the hill down which this "stuff" is rolling, pray tell? One hopes there is not a curlicue at the bottom that will throw it back up as the momentum it gains should be quite daunting.
    Aug 19 03:49 AM | Likes Like |Link to Comment
  • Data mining the speeches of Chinese Premier Wen Jiabao shows "confidence," when it becomes a key focus, could be code for imminent stimulus. Yesterday: "We must increase our confidence. Leaders at every level of government must have confidence. Companies in every industry must have confidence. All of society must have confidence." [View news story]
    This is wholly true in the US, but in China where one has to "float" ideas prior to implementation in order to get the reaction of key support groups to the leadership, it is a traditional way to test the waters. The current and immediately previous US administrations take no such precautions, showing that they intend to do what they say irrespective of the will of the legislature or the people because they believe they alone hold the power to make it happen without fear of palace coups. How strange that the country that was established to have a government of checks and balances does not appear to be controlled by them
    Aug 16 12:12 PM | Likes Like |Link to Comment
  • Apple (AAPL) has been laying off recently-hired staff at retail stores, particularly in the U.K., and has also reportedly been making long-term cutbacks in hours given to part-time staff. The moves could represent efforts by John Browett, the former Dixons CEO hired in January to run Apple's retail ops, to improve profitability. Browett has a reputation for cost-cutting, and Apple maintains an exceptionally large number of employees per store. [View news story]
    Apple is not a tyre factory where automation may release jobs, but an oasis of security in a world which confuses, amazes, and befuddles the ordinary person who know not a "bit" from the piece you put in a horse's mouth as part of the reins. The extra staff of Apple stores provide cushion and camaraderie for both the customer and the newbies who often provide the first interface. This is a feature not available to those seeking PC's as the big box stores will never provide this and, as such, is a key differentiator of Apple as the more customer friendly and accommodating retail operation. There might be considerable room for process changes therein, but eliminating the feel good factor is a mere short term move that will not move the retail operation forward.
    Aug 14 10:50 PM | Likes Like |Link to Comment
  • The U.S. added ~6,800 MW of new wind power generation in 2011, 31% more than was added in 2010, a new Energy Department report says; U.S. wind generation now totals nearly 47K MW. Federal incentives, which have driven new wind installations, are set to expire at the end of 2012; the White House says as many as 37K U.S. jobs could be lost if the tax credits are not renewed. [View news story]
    If you actually study the mark-to commodity pricing for Arab oil, you might find that the discrepancy exists in the purchasing power of the USD, the dissolving dollar is the culprit as the Fed is eroding the value, not the "real" price of oil. That being the case, national discoveries priced similarly will have nothing to do with the price at the pump - thus is the hidden danger of not just a fiat currency, but a rapacious Fed, unaccountable to anyone but its owners.

    I found this explanation effective: http://bit.ly/Qymhgb
    Aug 14 11:56 AM | 3 Likes Like |Link to Comment
  • A committee of legislators in Maryland votes to expand gambling in the state and the Washington D.C.-area, setting up a wider vote for the full House this week. Naturally, working out how much in taxes the state will rake in was one of the biggest hurdles to clear. Waiting it out: MGM Resorts (MGM +0.7%) with a $800M complex in the works for a suburban Maryland site about ten miles from the Capitol. [View news story]
    We have the government we have and they want to EXPAND(!) gambling? Where does the current government not look like a crapshoot, please?
    Aug 14 10:27 AM | 1 Like Like |Link to Comment
  • Despite reducing exposure to Europe's periphery, Deutsche Bank (DB) - already not in the best capital situation - still faces a significant threat from its Spanish and Italian operations, say analysts at Espirito Santo. A euro exit could leave its subsidiaries with loans transformed into lira or pesetas, and liabilities still based in euros.  [View news story]
    But consider the clean up potential, here. What if and this is a top of my head hypothesis: you chose a subsidiary bank to which all suspect euro-abandoning country loans were transferred? What if a number of large European banks did this with their own local, puppet subsidiaries? Then, when the anticipated Euro abandonment happens, these subsidiaries swamped with Euro dominated loans that were to suddenly be paid back in undervalued lira or drachmas or pesetas so that the subs were declared bankrupt. This would clean up the central banks, having received proper value for the loan packages by sucking up the live assets of the victim subsidiaries and, perhaps, spur the Euro abandonment by the countries - who might get suckered into finding that the poor subsidiaries need to be bailed out in their less valued currency; shades of TBTF tactics.

    I don't know if it would work, but I certainly wouldn't put it past any of them to spur disinvestment in the Euro if their own balance sheet health was at stake, would you?
    Jun 13 02:15 PM | Likes Like |Link to Comment
  • Tim Cook announces Apple's (AAPL) expected MacBook refresh during his keynote at the Worldwide Developers Conference (live blog). New MacBook Pro and Air models sporting Intel (INTC) Ivy Bridge processors are introduced, including a $2,199, 15.4" MacBook Pro featuring a retina display with a 2880x1880 resolution. Nvidia (NVDA +4.1%) is rallying on news that the 15" Pro models (retina display or otherwise) will contain the company's graphics processors (previous).  [View news story]
    Sorry, "into", but didn't we hear almost the same prior to the tablet introduction? And that failed, right?

    Never underestimate the desire of the monetarily flush or wanna-be's to sport something that sparks envy elsewhere, irrespective of what anyone may think of its value.

    After all, but only in my humble opinion, vehicles are generally [though not totally] becoming uglier every year [as opposed to some of the runner classics on the market] but are they bought? Not only are they bought, but many are touted as "design excellence", a sure bet euphemism for "ugly as sin"; but what do I know?
    Jun 11 02:50 PM | Likes Like |Link to Comment
  • The Maple Group - comprised of 13 of Canada's top banks and pension funds - extends its near $4B takeover offer of TMX Group (TMXGF.PK) to July 31 as regulators review whether to allow the deal. "How would the U.S. react if the TBTFs were about to take out the NYSE and Nasdaq," asks The Real Interloper. (PR)  [View news story]
    I'd need to look at this more closely, but I have to confess that I am not a fan of large concentrations of economic control, particularly spanning a number of market nodes so that control can be expressed and concomitantly influences felt simultaneously in a number of vectors; as in I think the repeal of the Glass-Steagal in the US was merely another step in a failure that was only to be expected. It wasn't passed initially on merely a whim, you know. I may be wrong, but TBTF is a recipe for national disaster - or didn't we already see that?

    Contrast that with the panics of previous centuries in which TBTF did not exist as a concept, period. Their recoveries happened a lot sooner than this one. I'll stop as I'm trending toward discussing the pernicious hand of mercantilist government.
    May 31 08:30 AM | Likes Like |Link to Comment
  • Ugly chart of the day: According to The Economist's credit crunch index, credit is now tighter in the eurozone than at the height of the financial crisis.  [View news story]
    Is there any "book" on who is shorting Europe? Given prior experience, those controlling the credit and money markets may be playing the "other" side for gains. But that wouldn't help the markets or consumers, would it? So, I must be grossly erroneous. Surely, it can't be just a ploy to secure more input from those with large debt pockets, can it?
    May 30 08:23 PM | Likes Like |Link to Comment
  • SEC staff will not recommend any enforcement action against Lehman or any of its former executives after completing a probe of possible financial fraud there, reports Bloomberg. "Repo 105 is magical," tweets Josh Brown, "It makes losses disappear long enough to file a 10Q, then they come back until the next Q is due."  [View news story]
    I would far prefer to believe that than the cynical alternative which I sadly tend to find more plausible.
    May 24 09:36 PM | Likes Like |Link to Comment
  • SEC staff will not recommend any enforcement action against Lehman or any of its former executives after completing a probe of possible financial fraud there, reports Bloomberg. "Repo 105 is magical," tweets Josh Brown, "It makes losses disappear long enough to file a 10Q, then they come back until the next Q is due."  [View news story]
    Ahh, I remember this report from years ago, Professor Allen Hynek, if I recall correctly, termed it "swamp gas"; the same cause for that mysterious market bottom-out of a few years ago.

    Isn't it nice to be reassured that aliens are not on the planet?
    May 24 08:10 PM | Likes Like |Link to Comment
  • Market recap: Stocks faded late to close mixed, but the Dow still snapped its six-day losing streak amid hopes Greek leaders could form a coalition government. Utility and telecom stocks led gainers, while techs lost ground on Cisco's downbeat outlook. Treasurys pared losses after a solid bond auction. NYSE advancing issues led decliners nearly three to two.  [View news story]
    I like that word, but it is dangerously close to the familiar term referencing many market rationales: hokum.

    I was also wondering how long it will be until France becomes the new Greece - but it might not be so. However, given the German strength, how long until they dominate the continent, again; not so much from an overwhelming strength, but as being the proverbial one-eyed man in a sea of blindness.
    May 10 06:00 PM | Likes Like |Link to Comment
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