Short Sellers Flipside 15 y
Ron Fink blogs on CFO.com
The AP says the economy was hunky dory before Katrina. Boy does that make my head itch. And I’m not the only Cassandra on this point. Just see this post on James Wolcott’s blog, which I’ve excerpted below:
“Over the weekend Barron’s (sub required) ran an interview with two hedge fund managers and dedicated short sellers, Lee Mikles and Mark Miller, who argued that we were at a dangerous juncture vis a vis the economy and stock market. Since short sellers benefit from falling stock prices, they’re prejudiced to the down side, but that doesn’t mean they’re wr ... read more
FOMC still raising 15 y
Gee, I'd a thought they could stop raising rates if their aim was to slow inflationary cycle...Katrina slowed that sysle and oil will slow the cycle by adding frieght premiums for every item shipped...I don't understand this...I need to think of the macro implications!
Fed to keep raising rates despite Katrina
Thu Sep 8, 2005 6:38 PM ET
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By Glenn Somerville and Alister Bull
WASHINGTON (Reuters) - A swelling chorus of Federal Reserve policy-makers say the best way to help the U.S. economy heal from Hurricane Katrina is to keep inflation in check -- a sign interest rates will keep rising as planned.
Less than two weeks before a September 20 scheduled meeting of the U.S. central bank’s policy-setting Federal Open Market Committee, chances the Fed might pause in its rate-rise cycle in recognit ... read more
State Dept on Katrina 15 y
I'd consider the source...but then again this propoganda has a twist for the stability of our economic system, and for us as citizens...WOW- did I just say that? or type that?
U.S. Economy Believed Unlikely To Be Overwhelmed by Katrina
Congressional Budget Office projects temporary slowdown for rest of 2005
By Andrzej Zwaniecki and Bruce Odessey
Washington File Staff Writers
Washington -- The overall effects of Hurricane Katrina on the U.S. economy will be significant but not overwhelming, the Congressional Budget Office (CBO) says.
The hurricane and subsequent flooding have devastated parts of Louisiana, Mississippi, and Alabama and left thousands homeless. (See related article.)
CBO’s September 6 report said the disa ... read more
Best Article On Gas Prices 15 y
This is an article that explains why oil is $4 a gallon. it is sane and common sense. This is the best article I have read on the relationship of crude to gasoline.
Who’s to Blame for $4-a-Gallon Gas?
By Jon D. Markman
9/8/2005 7:19 AM EDT
Click here for more stories by Jon D. Markman
Gasoline costs a lot in the U.S. today, so it just feels like a good idea to blame the big oil companies with accusations of ”gouging” and ”windfall profits.” But like most high-octane emotional reactions, this one is wrong, as you’d need to breach every tenet of capitalism to lay all the fault at the oil giants’ feet.
And even if you still think they deserve a touch of anger, as investors you’re better off joining them than fi ... read more
OH NO!X-CFO of Ben & Jerry's 15 y
Embezzled 300k..Jeez...Oh I guess that most of our readers don't eat Jerry Garcia Cherry Ice Cream with Bing and Dark Cherries in rich creamy vanilla ice cream...not on Cure Zone! Really you'd think if he'd had serious intention he coulda gotten a Million easily...eh?
Ex-CFO of Ben & Jerry’s to Plead Guilty
The former finance chief allegedly used his control of the company’s credit-card system and his control over the check-writing process to embezzle more than $300,000.
Stephen Taub, CFO.com
September 07, 2005
Stuart ”Mickey” Wiles, a former chief financial officer of Ben & Jerry’s Homemade Inc., has pleaded guilty to a federal charge of wire fraud for embezzling more than $300,000 from the company, according to press reports.
The U.S. Attorney’s Office for Vermont stated that Wiles ”used his authority as CFO to cause company checks to be ... read more
Insiders Selling Google? 15 y
Insiders feel the undulations of a stock well watched, and they feel....time to take profits
Google Insiders Get Paid
The financial press loves stories about insider stock activity. First, a surge in selling can be a sign that companies see, at best, an overvalued stock or, at worst, trouble ahead. Second, people read stories that connect big names with big numbers, and let’s face it, that’s about as close to fame and fortune as some of us are ever going to get.
The fact that 13 Google (GOOG:Nasdaq - news - research - Cramer’s Take) insiders have, since the company’s IPO, sold off nearly $3 billion of shares without much notice is evidence that the former factor isn’t in pla ... read more
Economics of Katrina 15 y
We'll All See
Our research editor, Don Durfee, tells me that our latest survey of CFO confidence provides some clues as to how Katrina will affect corporate decision-making. Don touched on the findings as well as the results of his follow-up discussions with respondents in an interview with CNBC last week. But the link’s cumbersome and he’s since done some further thinking on the topic. So his views and findings are worth posting. Here are the survey’s three most relevant findings (see the first comment for some of the more compelling results of his interviews):
1. CF ... read more
Lee; Google & Microsoft 15 y
Microsoft & Google Rumble, off to court they go!
Microsoft, Google Rumble
Redmond and Google switch competitive venues from the Internet to a Seattle courtroom.
September 6, 2005
Microsoft and Google compete in a number of arenas, but on Tuesday the companies faced off in a courtroom to challenge a court order barring a former Microsoft employee from working for Google.
In July, Microsoft sued Dr. Kai-Fu Lee, its former employee, to prevent him from taking a job at Google. Microsoft claimed that by taking the job, Dr. Lee would be violating a non-compete agreement he signed with Microsoft back in 2000 (see Microsoft Sues Go ... read more
Pic of Gas Efficient Buggy 15 y
Yes, well it is $3.03 a gallon here!
Buggymobile -- I thought now would be the perfect time to combine my Amish heritage, modern technology, and the current gas shortage. I trust all of you are doing your part to ease the burden as well. These gas prices are something else! This really is a great time for creative thinking -- unexpected challenges have always been a stimulant for innovative solutions.
Top 3 Retirement Plans 15 y
One decides based on amount of time you have until retirement, number of employees, costs involved with administration of the plan, and the highest amounts deductible!
Top 3 retirement plans for self-employed workers
Thursday September 1, 7:14 pm ET
By Robert Powell
The top 3 retirement plans for the self-employed
BOSTON (MarketWatch) -- Self-employment is fast becoming a way of life for many older Americans. And with good reason. Unlike most working Americans, the self-employed have the ability to use a plethora of retirement plans, including SEP, SIMPLE, 401(k) and defined benefit (or DB as they say in the pension world), to reduce taxes as well as build huge nest eggs.
But how does one decide which of the alphabet soup of pla ... read more
250k for Katrina 15 y
Not as much as Ny Life and Northwestern Mutual...huh and it is a matching and a writeoff. Now see they look bad in comparison to their brethern!
MassMutual Establishes Major Aid Program for Hurricane Relief
Company Targets $250,000 to American Red Cross, Expands Matching Gift Program
WALNUT CREEK, Calif., Sept. 2 /PRNewswire/ -- The MassMutual Financial
Group announced the firm is undertaking a major relief effort to aid victims
of Hurricane Katrina. Among the key provisions is a $250,000 company donation
to the American Red Cross to aid hurricane victims and a temporary expansion
of its Matching Gift Program so that eligible employees will have a ”double
match” for their donations to the American Red Cross and the Sa ... read more
1 Million for Katrina 15 y
Ny Life did their 1 Million gig to the Red Cross and now, as I guessed, others will follow- The PR is priceless and it's a tax writeoff.
September 02, 2005 03:42 PM US Eastern Timezone
Northwestern Mutual Pledges $1 Million to Hurricane Relief
MILWAUKEE--(BUSINESS WIRE)--Sept. 2, 2005--Northwestern Mutual is pledging support to the Hurricane Katrina relief effort through a $1 million grant to the American Red Cross from the Northwestern Mutual Foundation.
”The Northwestern Mutual family is deeply saddened by the devastation and destruction caused by this catastrophic event,” said Edward J. Zore, president and chief executive officer. ”We’re committed to helping those affected by the hurricane, including our clien ... read more
Cassandra Utterance 15 y
I think I'll take his advice since I drive one of the biggest gas guzzlers ever made- next to a truck or a hummer
COMMENT: Cassandra Utterance.
Dear A-Letter Reader:
When I took high school Latin, one of my teacher’s favorite phrases was
Cassandra, as you probably know, was one of the figures of the Trojan
War. The daughter of King Priam, she could foresee the future. However,
she was cursed in that no one took what she said seriously. For example,
Cassandra said: ”You know, that wooden horse looks big enough to hide
a small army in.”
Instead of listening to her, the Trojans criticized Cassandra for ending
a sentence with a preposition and proceeded to drag the T ... read more
Pic of Gas in 1973? 15 y
So I think I posted an article about 1-2 weeks ago wondering if anyone in office remembered 1973?
DRIVERS waiting in line for hours, and occasionally in vain, to fill up their tanks. Gasoline prices shooting up 50 percent or more overnight. The president urging everyone to curtail driving and conserve energy at home. Dark rumors of hoarding and market manipulation starting to spread. Economists warning that soaring energy costs will certainly slow economic growth - and maybe snuff it out completely.
A New High Ahead?As those scenes played out across the country last week, they may have looked familiar, a bit like a replay of the fallout from the Arab oil embargo of 30 years ago. M ... read more
Gas Gouging 15 y
So we all know that California gas markets use any excuse they can to raise prices. While this particular disaster might effect us in the state of affairs BEFORE the refinement process, It should not have affected us 3 days after Katrina at 12 cents a gallon. We know that gas is the biggest game in town since the person who runs our country has a faminly fortune in this market. Since GW has been in office he has had one crisis or another that has affected the price of oil, and has inflated our eonomy substanstialy. Food prices, SDG &E, etc.
The devastation along the Gulf Coast caused by Katrina and the ripple effects throughout the entire nation are tragic beyond description. What we are witnessing in Louisiana and Mississippi is the truism that when disaster strikes, the gap between rich and poor becomes a chasm.
In today’s lagging economy, far too many hardworking Americans are living paycheck to paycheck, just barely getting by. In that tenuous financial condition, many families are only one tragedy away from being devastated by debt. Many of the families who have now lost their homes, livelihoods, and p ... read more
New Orleans: What U Can DO! 15 y
Sovereign Society Bob Bauman comments on the disaster and the real malaise of this disaster. Bob pretty much hits my nail on the head!
COMMENT: New Orleans: What YOU Can Do.
Dear A-Letter Reader:
Generally speaking I tend to be an introspective person, having lived
a lonely interior life for most of my years (even though surrounded at
times by crowds, family or friends). I tend to over-analyze, contrasting
potential outcomes, comparing possible or probable results.
Eventually I awake to the reality that I have very little control over
most of the events swirling in my mind; that others will do as they
please; that all I control, if I am lucky, is my own pitifully small
sphere of existence, and that I don’t al ... read more
NY Life donates 1M! 15 y
So the Financial World comes to the aid of the Red Cross-who will come to the aid of those in need!?
Previous Page, Page 6
September 01, 2005 03:54 PM US Eastern Timezone
New York Life Donates $1 Million to the American Red Cross; Company Will Match All Employee and Agent Contributions to the Relief Effort, Offers Assistance to Policyholders
NEW YORK--(BUSINESS WIRE)--Sept. 1, 2005--New York Life Insurance Company announced today that the New York Life Foundation is contributing $1 million to the American Red Cross in support of its disaster relief efforts following Hurricane Katrina. In addition to this $1 million donation, the Foundation will match all donations made by New York Life employees, agent ... read more