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kwm3

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  • Wall Street Breakfast: Must-Know News [View article]
    True to an extent, but nafta facilitated it. They did raids at Martin too. I think they're still illegal to import from Mexico if they contain the forbidden wood.
    Dec 4, 2012. 01:42 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    wyo, he's a symbol to which people can easily relate. There are a great great many more similarly situated and it's a problem.
    Dec 4, 2012. 01:29 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    wyo and deer, I wonder if NY had the same concerns over emigration being influenced by tax policy that CA had? How did CA or consultants conclude in their the study that people won't leave? The methodology possibilities is puzzling... go ask "the rich", make them submit to lie detectors? Anyone with sufficient money will tell you, they don't pay high tax rates, they have a large web of assets strewn throughout the world, there's a massive industry to advise on these machinations, they engage in substantial tax planning, so few fish are really caught in the net.

    I for one think it's hilarious that Romney paid an extra 3-4% in taxes just so that he could hit that 14% effective tax rate to make his grotesquely low tax rate seem less disgusting and allow him to appear to be an altruist, thereby greasing the wheels to the White House. Was he going to tell us when he amended the return inevitably? No way.
    Dec 4, 2012. 08:41 AM | 8 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Not surprising that NAFTA is helping transport companies and hurting manufacturing, such as the workers at Fender. The hallowed Fender Stratocaster (aka, Fender Strat) is now called the Mexicaster pejoratively(no aka).
    Dec 4, 2012. 08:29 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Gene, please, have you forgotten that Enron, Adelphia, Worldcom, Tyco and their progeny got away with the Chinese-style fraud for a very very long time? The SEC is starved (for obvious, intentional, and I think what should be characterized as criminal reasons) of resources to do it's job. Plus, many believe it's an issue with the big four accounting firms, once again. I think there is a market solution for this: don't buy, see where the stock price goes if everyone who did dumps--zero.
    Dec 4, 2012. 08:26 AM | 1 Like Like |Link to Comment
  • Elliott Vs. Argentina, The Lego Version [View article]
    Felix, I love the Lego presentation!! I agree that this is a fascinating collections case.

    I am not enmeshed with every detail the case, but it seems to be less about immunity (protection from lawsuits) and more about sovereignty and jurisdiction--the NY and Ghana courts rejected both Argentina's claims for immunity. The US courts for better or worse do not have worldwide jurisdiction (it was Ghana's voluntary action to respect the NY court judgement that the money was owed and issue a seizure order). At the same time Argentina is all but happy to flip the bird in the court's direction as an exercise of sovereignty. The people and their leaders view it as a faustian choice between greatly enriching Elliot's firm on debt that was considered dead, and that was held by what they considered assholes who wouldn't settle in 2001, versus bowing once again to world forces in humility, and upping taxes--recall the 2001 default was the result of a forced currency devaluation by the IMF.

    Having spent a number of months in Argentina 2 years ago, I'd say based on the character of the people, it's reactionary and stubborn politics, the fact that 40-50% of the economy is underground and untaxed, the political challenges to raising taxes, national pride, and the simple fact that they're at the end of the world (which is in their collective mindset), etc... I'd be very surprised if the Elliot fund and others similarly situated get paid.
    Dec 3, 2012. 01:45 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    RIQ, I like that last paragraph very much. There has been talk about mandatory economic, financial and business education in high school, even in the last election some candidates spoke of financial literacy programs, and that would be a good start. Does Canada require such education? The US has been falling behind terribly in education--I have university professor friends who are appalled at the level of education coming to solid universities, and have described the level as pathetic... and applies to their graduate level courses too. And they're quite young, not mid age or old coots. Blame the internet, gaming, reality TV, facebook, texting for consuming valuable learning time, etc... Idiocracy is becoming a true story right before our very eyes.
    Dec 3, 2012. 10:03 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    States and municipalities giving away the farm to lure companies to locate there. Politicians sell the tax subsidies to the public on broad and often unfounded promises of jobs. Few jobs materialize. Rinse and repeat.

    This cycle reminds me of elections in which so many GOP candidates argue that tax cuts (especially for the rich folks) creates jobs. The argument is tired, at best, since we've observed so many times that tax cuts don't create real business demand. I can't wait to see the day the prophecy comes true.
    Dec 3, 2012. 08:22 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    killer, don't you find that fact weird? I thought the public knew how broke that distribution scheme is. I expected capitulation of some sort, but instead we get the same old, from POTUS to the most junior Congressman.
    Nov 30, 2012. 11:03 AM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Ann the entitlements and social programs are mostly Medicare and SS--and the people getting the entitlement are entitled because they already paid for them. These programs' size trump welfare probably by a factor of 500. Put another way, make them more efficient or cut payments by 3% ($5 less per month) and you get the same financial effect as eliminating welfare entirely. And without the consequent crime wave that would ensue if you cut welfare... ever seen what a starved person will do for food?
    Nov 30, 2012. 10:55 AM | 1 Like Like |Link to Comment
  • Are Electronic Cigarettes A Genuine Threat To Big Tobacco? [View article]
    Ducati, What is the best e-cig in your experience? My friend wants to quit, and has struggled, and Christmas is coming up. Thanks.
    Nov 30, 2012. 10:42 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    IALF blame the folks who promoted in free trade and globalization, global wage arbitrage really knocked Detroit for a loop. And complacency among management of the auto companies (Romney's Dad).

    It will be interesting if the creditors (mostly banks) are able to convince the government to protect their investment in Detroit's munis.
    Nov 30, 2012. 10:09 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Leftfield, the American public elected Obama in part to take more from the rich, and the rich like Warren Buffet have requested to pay more. Most are on board with the concept and they'd be moreso on board if they knew what I know about the degree to which tax laws coddle and benefit rich people (witness Romney and Buffett) insofar as most with making millions end up paying very low rates. And the really wealthy have so much in overseas tax havens. Think carried interest, think no phase out on home mortgage interest deduction, and so much else, the list is virtually endless.
    Nov 30, 2012. 10:01 AM | 5 Likes Like |Link to Comment
  • Are Electronic Cigarettes A Genuine Threat To Big Tobacco? [View article]
    Thanks for an interesting article on a new technology that would seem to be able to lower healthcare costs and possibly improve health. But, I'd be shocked if they present a formidable challenge to big tobacco. I'd also not be concerned about antitrust ramifications of acquisitions of the e-cig players--there are plenty of players in the field... Although it is foreseeable that after an acquisition, if the financials on the industry don't work, or start cannibalizing higher margin tobacco sales, such that big tobacco snuffs out the e-cig division, pun intended, you could see a concern.

    Are any of the e-cig companies public? I assume not, since you didn't discuss their financials, perhaps one could derive the financials from LO's reports.

    Of interest: I saw a "roast" of a celebrity and Carrie Fisher was smoking an e-cig on stage.
    Nov 30, 2012. 09:23 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    In what I think is a hilarious irony (possibly intended) that is a microcosm for so much going on in the western world today, my local t.v. station has been airing a show called "We Owe What?!" in the same time slot that it previously aired "Flip This House!" An astute comedian must have come up with that one.
    Nov 30, 2012. 08:19 AM | 4 Likes Like |Link to Comment
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