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Some general rules of investing:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/04/15/BUGV1P7S5S1.DTL
Some general rules of investing:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/04/15/BUGV1P7S5S1.DTL
Some general rules of investing:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/04/15/BUGV1P7S5S1.DTL
Some general rules of investing:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/04/15/BUGV1P7S5S1.DTL
Some general rules of investing:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/04/15/BUGV1P7S5S1.DTL
Hi Mexi, hope u get your $ soon. Watching GENX (near 5 year low) and BIIB.
Following another example of IDM @ $2.64 a share???? $66M market cap? @#*!
Bristol-Myers to buy Medarex for $16 a share cash
LOS ANGELES (MarketWatch) -- Bristol-Myers Squibb Co. (BMY 20.53, +0.24, +1.18%) has signed a deal to buy biopharmaceutical firm Medarex Inc. (MEDX 15.98, +7.58, +90.24%) for $16.00 per share in cash, almost double their Wednesday close, resulting in an aggregate purchase price of about $2.4 billion, the two companies said in a statement late Wednesday. Medarex's projected $300 million in net cash and marketable securities at the close of the deal would knock the final price down to $2.1 billion. Among the properties acquired in the merger is ipilimumab, a novel immunotherapy currently in Phase III development for the treatment of metastatic melanoma, which Bristol-Myers said could be "an important contributor to [its] future growth." The tender for the shares will begin on or about July 27, with the deal expected to close 30 days later, pending regulatory approval. Shares of Bristol-Myers closed up 0.9% at $20.29 Wendesday, while those of Medarex were up 1.45% at $8.40. The announcement comes one day before Bristol-Myers is slated to announce its financial results for the second quarter.
Hi surf! got MEDX (not me)? Bristol-Myers to buy Medarex for $16 a share cash
LOS ANGELES (MarketWatch) -- Bristol-Myers Squibb Co. (BMY 20.53, +0.24, +1.18%) has signed a deal to buy biopharmaceutical firm Medarex Inc. (MEDX 15.98, +7.58, +90.24%) for $16.00 per share in cash, almost double their Wednesday close, resulting in an aggregate purchase price of about $2.4 billion, the two companies said in a statement late Wednesday. Medarex's projected $300 million in net cash and marketable securities at the close of the deal would knock the final price down to $2.1 billion. Among the properties acquired in the merger is ipilimumab, a novel immunotherapy currently in Phase III development for the treatment of metastatic melanoma, which Bristol-Myers said could be "an important contributor to [its] future growth." The tender for the shares will begin on or about July 27, with the deal expected to close 30 days later, pending regulatory approval. Shares of Bristol-Myers closed up 0.9% at $20.29 Wendesday, while those of Medarex were up 1.45% at $8.40. The announcement comes one day before Bristol-Myers is slated to announce its financial results for the second quarter.
2009 E$2.35 to $2.90 per share, down from prior guidance of about $3.52 per share.
Revenue guidance was cut to between $4.6 billion and $5 billion from a prior range of $5.15 billion to $5.35 billion.
Genzyme 2Q profit rises, outlook cut on production
Genzyme's 2nd-quarter profit rises on lower expenses, but outlook slashed on production woes
On Wednesday July 22, 2009, 3:51 pm EDT
CAMBRIDGE, Mass. (AP) -- Genzyme Corp.'s second-quarter profit more than doubled, mainly on lower charges and research and development expenses, but the company slashed its outlook because of production issues at a Boston facility.
On Wednesday, the company said it earned $192.2 million, or 70 cents per share, up from $69.6 million, or 25 cents per share, during the same period a year prior. Revenue rose 5 percent to $1.23 billion from $1.17 billion. A year prior, the company had a hefty charge for buying rights to an Isis Pharmaceuticals product.
Excluding charges in the most recent quarter, the company said it earned 85 cents per share. Analysts polled by Thomson Reuters expected profit of 85 cents per share on revenue of $1.26 billion.
The biotechnology company focuses on treatments for rare diseases, including Myozyme for Pompe disease. That rare disorder interferes with muscle development and can cause deadly respiratory problems. The company had been facing supply problems in both the U.S. and Europe, but said it is solving the issue. It recently received approval for a larger-scale production process in Europe, but doesn't expect similar approval in the U.S. until the first quarter of next year.
More recently, the company had to shut down a Boston facility making the genetic disorder treatments Fabrazyme and Cerezyme. The June shutdown of bioreactors at that facility followed the discovery that a virus was impairing cell growth of the drugs. The facility is expected to be operational in July, but the shutdown prompted deep cuts in full-year guidance.
Myozyme revenue rose slightly to $79.3 million during the quarter, while sales of the kidney-disease treatments Renagel and Renvela rose 4 percent to $175.4 million, and revenue from Fabrazyme rose 6 percent to $134.3 million. Fabrazyme treats an inherited disorder known as Fabry disease, which is caused by the buildup of a particular type of fat in the body's cells.
Operating costs and expenses fell 10 percent to $979.8 million, mainly on lower research and development costs.
The company slashed its 2009 outlook because of the temporary shutdown in Boston. It now expects adjusted profit between $2.35 and $2.90 per share, down from prior guidance of about $3.52 per share. Revenue guidance was cut to between $4.6 billion and $5 billion from a prior range of $5.15 billion to $5.35 billion.
Analysts expect full-year profit of $3.31 per share on revenue of $4.96 billion.
Shares of Genzyme fell $4.81, or 8.6 percent, to $51.10 in afternoon trading. The stock has traded between $50.05 and $83.97 over the past 52 weeks.
www.businessjive.com- to learn about the stock market, the SEC and FTD's (failure to deliver). (this is my response to a question on the GENZ Yahoo mb)
From my experience, which is limited, "they" can bring stocks up and "they" can bring stocks down.
It is important to realize that professional money managers work on a quarterly basis (or even less), thus GENZ short-term problems with production effecting immediate profits pushes managers into other stocks for the short-term and GENZ stock price goes down.
For an individual investor patience is very important. You must learn and remember this!
Know support and resistance levels, for example for
GENZ (which closed today @ $51.21) support levels are (which are six year lows):
$51.06 10/22/04;
$48.50 08/06/04;
$44.91 07/09/04;
$41.93 05/21/04 and
$34.92 04/17/03. (from Google finance)
I do know what GENZ's stock price will do and I let the stock market tell me what to do by the price action of the stock and the overall markets.
So my notes for GENZ are: "T45 6yrL +1roe 50 52wl 10Ls/h smallD" (Yahoo notes limited to 40 characters):
Target $45 (about);
+1 return on equity (best score for a stock is 0, if roe is <15% (as here), +1, this is one of seven metrics, but for GENZ the other six are 0, which is the best score, +7 worst);
$50 52 week low;
10th largest share holder (I follow Primecap (Vanguard), as of Q1-2009 they are the 10th largest shareholder of GENZ;
small debt (more cash than debt) source: Yahoo.
Also go to www.nasdaq.com and check the quarterly institutional holdings for the stock. The previous quarters holdings are usually posted about seven weeks after the end of the quarter, thus for Q2-2009 (06/30/09) they will fully undated about this week. I pay particular importance to what the largest ten holders have done and if overall institutions are buying, selling or holding.
I have no position in GENZ at this time, but I am looking to buy in.
GENZ @ $51.21: support levels (which are six year lows) and resistance:
resistance:
$62.44 06/03/09;
$60.58 06/12/09;
$58.76 06/26/09;
$56.50 06/26/09;
$55.91 07/21/09;
GENZ @$51.21 07/22/09
support:
$51.06 10/22/04;
$48.50 08/06/04;
$44.91 07/09/04;
$41.93 05/21/04 and
$34.92 04/17/03. (from Google finance)
On the Call: Southwest CEO Gary Kelly
Southwest CEO says worst could be ahead for his airline due to fuel prices, recession
By The Associated Press
On Tuesday July 21, 2009, 3:23 pm EDT
Buzz up! 2
Print
Companies: Southwest airlines co.
Southwest Airlines Co. has been the most consistently profitable U.S. carrier -- it went more than 17 years without a losing quarter until last year. The company made money in the second quarter this year, but CEO Gary Kelly warned he couldn't promise another profit in the third quarter. He discussed the issue in a conference call with analysts and reporters.
QUESTION: You say you can't guarantee a third-quarter profit. Have you ever had to issue that kind of warning in the past?
RESPONSE: "I've been doing this a long time, I don't remember. But I don't think the worst is behind us; I think the worst is ahead of us, and it's primarily because of increased energy costs at this stage ... September is typically the second-worst month of the year, which means it could be really bad ... With $50 crude oil it's one thing, with $70 crude oil in the third and fourth quarters and next year, those are very high energy prices in a recessionary environment and makes for a very difficult outlook."
Southwest Airlines breaks losing string, posts $54M profit
10:50 PM CDT on Tuesday, July 21, 2009
By TERRY MAXON / The Dallas Morning News
tmaxon@dallasnews.com
Southwest Airlines Co. said Tuesday it earned $54 million in the second quarter, the Dallas carrier's first official profit after three quarters of losses.
However, the carrier said it cannot guarantee that it'll make money in the third quarter, typically one of the strongest for Southwest and the airline industry.
Southwest "is not immune to the effects of the debilitating economic environment," chairman and chief executive Gary Kelly warned. "Based on weak travel demand and fuel price volatility, we cannot predict a profitable third-quarter 2009."
The airline's losses in the second six months of 2008 were blamed on accounting charges as falling fuel prices caused Southwest's fuel hedges to work against it.
But by all measures, it lost money in the first quarter of 2009 – its first "real" loss in 18 years.
And if Southwest fails to post a profit in the current quarter, it will mark the first true third-quarter loss since 1972, when Southwest was barely a year old.
Going into Tuesday's earnings release, analysts' consensus was that Southwest would earn 6 cents a share in the third quarter, or about $44 million.
Southwest reported that its unit revenue, or revenue per seat mile flown, fell 6 percent in the second quarter compared with the same period in 2008.
Overall revenue dropped 9 percent, down $253 million to $2.62 billion.
Although business travel remains weak, Kelly and chief financial officer Laura Wright said unit revenue seems to have stabilized since April, with a slight uptick in July and possibly into August.
Kelly said the real concern is rising fuel prices.
"I don't think the worst is behind us," he said. "I think the worst is ahead of us, and it's primarily because of increased energy costs at this stage."
While the carrier can tolerate crude oil at $50 a barrel, Southwest is worried about an outlook for $70 crude oil through latter 2009 and in 2010.
"Those are very high energy prices in a recessionary environment and makes for a very difficult outlook," Kelly said.
He said 1,400 employees have opted for an early-out program, needed to reduce the workforce as operations shrink. Those employees will be leaving between July 31 and April 15, 2010, "based on the operational needs of particular work locations and departments," he said.
The $54 million in net income represented 7 cents a share. Excluding special items, Southwest earned $59 million or 8 cents a share; analysts' consensus was for a profit of 7 cents a share.
In the second quarter of 2008, Southwest earned $321 million, or 44 cents a share, on revenue of $2.87 billion.
Southwest shares lost 43 cents, or 5.9 percent, to close at $6.87 Tuesday.
Meanwhile, Continental Airlines Inc. said it lost $213 million, or $1.72 a share, on revenue of $3.13 billion, compared to a $5 million loss, or 5 cents a share, on revenue of $4.04 billion a year earlier. Excluding special items, Continental lost $169 million or $1.36 a share. Continental also said it is cutting 1,700 more jobs to reduce expenses.
UAL Corp., parent of United Airlines Inc., reported a $28 million profit, or 19 cents a share, on revenue of $4.02 billion. However, excluding special gains and charges, it lost $323 million, or $2.23 a share. A year earlier, UAL lost $2.74 billion, or $21.57 a share, on revenue of $5.37 billion, as it wrote off $2.28 billion in "good will" from its balance sheet.
US financial market bailout tab hits $4.7 trillion
By JIM KUHNHENN, Associated Press Writer
WASHINGTON – The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall U.S. economy, a watchdog report said Monday.
Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American.
The figures are part of a tough new quarterly report to Congress from special inspector general Neil Barofsky, who accuses the Treasury Department of repeatedly failing to adopt recommendations aimed at making one component of the government financial rescue effort more accountable and transparent.
The $4.7 trillion commitment to the industry takes into account about 50 initiatives and programs set up since 2007 by the Bush and Obama administrations as well as by the Federal Reserve. Barofsky oversees one of the initiatives — the $700 billion Troubled Asset Relief Program.
Much of the government assistance is backed by collateral and Barofsky's $23.7 trillion estimate represents the gross, not net, exposure that the government could face.
Because of declining participation in short-term loan programs and because some infusions of money have been repaid, the maximum amount actually spent has declined to a current outstanding balance of $3 trillion, Barofsky said.
Treasury spokesman Andrew Williams said the actual cash outlay to date of all the programs cited by Barofsky is actually less than $2 trillion and said the maximum exposure estimate "is inflated in a number of ways."
The agencies and the programs assisting the financial sector include a newly created Federal Housing Finance Agency, increased deposit insurance initiated by the Federal Deposit Insurance Corp., and 18 support programs created by the Fed under the special powers it can deploy to address a systemwide financial crisis.
Banks have cut back on their use of the Fed's emergency lending program as well as other programs to ease credit stresses. Given that, the Fed has reduced the amount it will lend to financial institutions under two programs and it has decided to let a program to support money market mutual funds to expire as currently scheduled at the end of October.
Barofsky's $23.7 trillion estimate represents the maximum exposure that the government would face if all eligible applicants requested the maximum assistance at the same time. It does not account for the fees and other costs that some of these programs charge and for the collateral that many of the programs require that participants provide.
For instance, Barofsky assigns $6.8 trillion in potential exposure to the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae, Freddie Mac and the 12 federal home loan banks. However, losses of that magnitude would require every homeowner with a Fannie or Freddie guaranteed mortgage to default and the value of the homes drop to zero. And Barofsky concedes that the finance agency and Treasury are not entirely liable for Fannie and Freddie losses.
The total also includes $3.35 trillion for a Treasury program, announced in September, to back money market mutual funds. But the Treasury has capped its liability for that program at $50 billion.
"While quantity and quality of the assets backing all of these programs vary, ignoring that side of these programs misrepresents 'potential exposure' associated with them," Treasury's Williams said.
In his report, Barofsky says Treasury has accepted some of his recommendations for greater accountability, but says the department has not taken steps to require all TARP recipients to report on their actual use of funds. He said Treasury also should report the values of its investments in banks and other financial institutions, disclose the identity of borrowers under a nonrecourse loan program and disclose trading activity under a public-private investment fund.
Barofsky says Treasury's inaction means taxpayers have not been told what the financial institutions that have received assistance are doing with the money.
Rep. Darrell Issa of California, the top Republican in the House Oversight and Government Reform Committee, said that by not adopting Barofsky's recommendation, Treasury is contradicting President Barack Obama's vows to increase government accountability.
"I don't know how you can justify hiding from the American people how their tax dollars are being spent," Issa said.
Barofsky's conclusion is contained in a quarterly report to Congress and in testimony he is prepared to give Tuesday to the Oversight and Government Reform Committee.
"The very credibility of TARP (and thus in large measure its chance of success) depends on whether Treasury will commit, in deed as in word, to operate TARP with the highest degree of transparency possible," Barofsky said.
___
AP Economics Writers Jeannine Aversa and Christopher S. Rugaber contributed to this report.
US financial market bailout tab hits $4.7 trillion
By JIM KUHNHENN, Associated Press Writer
WASHINGTON – The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a level of assistance equal to about one-third of the overall U.S. economy, a watchdog report said Monday.
Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American.
The figures are part of a tough new quarterly report to Congress from special inspector general Neil Barofsky, who accuses the Treasury Department of repeatedly failing to adopt recommendations aimed at making one component of the government financial rescue effort more accountable and transparent.
The $4.7 trillion commitment to the industry takes into account about 50 initiatives and programs set up since 2007 by the Bush and Obama administrations as well as by the Federal Reserve. Barofsky oversees one of the initiatives — the $700 billion Troubled Asset Relief Program.
Much of the government assistance is backed by collateral and Barofsky's $23.7 trillion estimate represents the gross, not net, exposure that the government could face.
Because of declining participation in short-term loan programs and because some infusions of money have been repaid, the maximum amount actually spent has declined to a current outstanding balance of $3 trillion, Barofsky said.
Treasury spokesman Andrew Williams said the actual cash outlay to date of all the programs cited by Barofsky is actually less than $2 trillion and said the maximum exposure estimate "is inflated in a number of ways."
The agencies and the programs assisting the financial sector include a newly created Federal Housing Finance Agency, increased deposit insurance initiated by the Federal Deposit Insurance Corp., and 18 support programs created by the Fed under the special powers it can deploy to address a systemwide financial crisis.
Banks have cut back on their use of the Fed's emergency lending program as well as other programs to ease credit stresses. Given that, the Fed has reduced the amount it will lend to financial institutions under two programs and it has decided to let a program to support money market mutual funds to expire as currently scheduled at the end of October.
Barofsky's $23.7 trillion estimate represents the maximum exposure that the government would face if all eligible applicants requested the maximum assistance at the same time. It does not account for the fees and other costs that some of these programs charge and for the collateral that many of the programs require that participants provide.
For instance, Barofsky assigns $6.8 trillion in potential exposure to the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae, Freddie Mac and the 12 federal home loan banks. However, losses of that magnitude would require every homeowner with a Fannie or Freddie guaranteed mortgage to default and the value of the homes drop to zero. And Barofsky concedes that the finance agency and Treasury are not entirely liable for Fannie and Freddie losses.
The total also includes $3.35 trillion for a Treasury program, announced in September, to back money market mutual funds. But the Treasury has capped its liability for that program at $50 billion.
"While quantity and quality of the assets backing all of these programs vary, ignoring that side of these programs misrepresents 'potential exposure' associated with them," Treasury's Williams said.
In his report, Barofsky says Treasury has accepted some of his recommendations for greater accountability, but says the department has not taken steps to require all TARP recipients to report on their actual use of funds. He said Treasury also should report the values of its investments in banks and other financial institutions, disclose the identity of borrowers under a nonrecourse loan program and disclose trading activity under a public-private investment fund.
Barofsky says Treasury's inaction means taxpayers have not been told what the financial institutions that have received assistance are doing with the money.
Rep. Darrell Issa of California, the top Republican in the House Oversight and Government Reform Committee, said that by not adopting Barofsky's recommendation, Treasury is contradicting President Barack Obama's vows to increase government accountability.
"I don't know how you can justify hiding from the American people how their tax dollars are being spent," Issa said.
Barofsky's conclusion is contained in a quarterly report to Congress and in testimony he is prepared to give Tuesday to the Oversight and Government Reform Committee.
"The very credibility of TARP (and thus in large measure its chance of success) depends on whether Treasury will commit, in deed as in word, to operate TARP with the highest degree of transparency possible," Barofsky said.
___
AP Economics Writers Jeannine Aversa and Christopher S. Rugaber contributed to this report.
You should contact your broker. I do not have any information.
I was in way too deep into IDM and I had had enough, I had to get out. I tendered my shares. Vanguard handled the transaction and the money was deposited into my accounts in late June.
GLTU
OT: "As complex as all the finances are, the politics aren't hard to follow. By creating an urgent crisis that can only be solved by those fluent in a language too complex for ordinary people to understand, the Wall Street crowd has turned the vast majority of Americans into non-participants in their own political future. There is a reason it used to be a crime in the Confederate states to teach a slave to read: Literacy is power. In the age of the CDS and CDO, most of us are financial illiterates. By making an already too-complex economy even more complex, Wall Street has used the crisis to effect a historic, revolutionary change in our political system- transforming a democracy into a two-tiered state, one with plugged in financial bureaucrats above and clueless customers below."
Believe or not this is from a recent Rolling Stone Magazine which featured an article "exposing" Goldman Sachs and Wall Street.
"The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies all who question its methods or throw light upon its crimes."
- Abraham Lincoln
from "Common Sense" by George Humphrey www.fearorlove.com or P.O. Box 5772, Austin, TX 78763
OT: "As complex as all the finances are, the politics aren't hard to follow. By creating an urgent crisis that can only be solved by those fluent in a language too complex for ordinary people to understand, the Wall Street crowd has turned the vast majority of Americans into non-participants in their own political future. There is a reason it used to be a crime in the Confederate states to teach a slave to read: Literacy is power. In the age of the CDS and CDO, most of us are financial illiterates. By making an already too-complex economy even more complex, Wall Street has used the crisis to effect a historic, revolutionary change in our political system- transforming a democracy into a two-tiered state, one with plugged in financial bureaucrats above and clueless customers below."
Believe or not this is from a recent Rolling Stone Magazine which featured an article "exposing" Goldman Sachs and Wall Street.
Recently, Rolling Stone Magazine featured an article "exposing" Goldman Sachs and Wall Street. The paragraph below is from that article --
"As complex as all the finances are, the politics aren't hard to follow. By creating an urgent crisis that can only be solved by those fluent in a language too complex for ordinary people to understand, the Wall Street crowd has turned the vast majority of Americans into non-participants in their own political future. There is a reason it used to be a crime in the Confederate states to teach a slave to read: Literacy is power. In the age of the CDS and CDO, most of us are financial illiterates. By making an already too-complex economy even more complex, Wall Street has used the crisis to effect a historic, revolutionary change in our political system- transforming a democracy into a two-tiered state, one with plugged in financial bureaucrats above and clueless customers below."
Thanks Mr. B. Was there talk of BK on the way down to <$1?
Maybe a reason why IDM sold for $2.64.
Link is to an article by Chris O'Brien in Sunday's 7/12/09 San Jose Mercury News "Fate of my Forecasts." Look at #8: to whit biotech mergers and acquisitions have been quiet in first half of 2009. Perhaps this is why Takeda was able to steal IDM for $2.64 a share.
I am convinced that if IDM had been sold about 18 months ago (I know I am dreaming) it would have sold for between $7 to $12 a share, about +250% to 350%. But it did not happen.
http://www.mercurynews.com/ci_12804210?nclick_check=1
Cheers to all and GLTU. Bow
Q to board: what was the catalyst that brought DTG from <$1 to >$14?
Thanks in advance for serious replies.
July 29, 2009 HIG 2nd Q-2009 earnings after market closed.
Question: Can anyone explain to me why HIG took over $3B from the government in June, 2009 when HIG has about $32B in cash (less debt), source Yahoo finance?
Thanks
OT: Wall Street and bank "bailout" in 2008-09 cost US taxpayers about $2.5 TRILLION; to put this amount into perspective, the current total amount of the US publicly traded debt is about $7 Trillion.
Frank Rich in the Sunday New York Times (7/5/09) notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
Finally, two paragraphs by Gary Dorsch, editor of the Global Money Trends Newsletter. These two paragraphs do a great job in explaining what could happen to the US dollar and why there could be a flight to gold.
"In the midst of the longest and deepest, post World-War II recession, America's financial position with the rest of the world has deteriorated sharply. Three decades of massive trade deficits have turned the United States from the world's top lender to the world's largest debtor, - and dependent upon the whims of the so-called emerging nations, laden with huge foreign currency reserves, to finance the bailout of Wall Street Oligarchs, and President Barack Obama's social programs.
"Foreigners own roughly half of the US-government's publicly traded debt, or $3.47-trillion, representing nearly 25% of the size of the US-economy, the highest level in history. If foreign lenders were to significantly reduce their purchases of US-Treasury notes, without even dumping their current holdings, US long-term interest rates could zoom higher, and the US-dollar could crumble."
OT: Wall Street and bank "bailout" in 2008-09 cost US taxpayers about $2.5 TRILLION; to put this amount into perspective, the current total amount of the US publicly traded debt is about $7 Trillion.
Frank Rich in the Sunday New York Times (7/5/09) notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
Finally, two paragraphs by Gary Dorsch, editor of the Global Money Trends Newsletter. These two paragraphs do a great job in explaining what could happen to the US dollar and why there could be a flight to gold.
"In the midst of the longest and deepest, post World-War II recession, America's financial position with the rest of the world has deteriorated sharply. Three decades of massive trade deficits have turned the United States from the world's top lender to the world's largest debtor, - and dependent upon the whims of the so-called emerging nations, laden with huge foreign currency reserves, to finance the bailout of Wall Street Oligarchs, and President Barack Obama's social programs.
"Foreigners own roughly half of the US-government's publicly traded debt, or $3.47-trillion, representing nearly 25% of the size of the US-economy, the highest level in history. If foreign lenders were to significantly reduce their purchases of US-Treasury notes, without even dumping their current holdings, US long-term interest rates could zoom higher, and the US-dollar could crumble."
OT: Wall Street and bank "bailout" in 2008-09 cost US taxpayers about $2.5 TRILLION; to put this amount into perspective, the current total amount of the US publicly traded debt is about $7 Trillion.
Frank Rich in the Sunday New York Times (7/5/09) notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
Finally, two paragraphs by Gary Dorsch, editor of the Global Money Trends Newsletter. These two paragraphs do a great job in explaining what could happen to the US dollar and why there could be a flight to gold.
"In the midst of the longest and deepest, post World-War II recession, America's financial position with the rest of the world has deteriorated sharply. Three decades of massive trade deficits have turned the United States from the world's top lender to the world's largest debtor, - and dependent upon the whims of the so-called emerging nations, laden with huge foreign currency reserves, to finance the bailout of Wall Street Oligarchs, and President Barack Obama's social programs.
"Foreigners own roughly half of the US-government's publicly traded debt, or $3.47-trillion, representing nearly 25% of the size of the US-economy, the highest level in history. If foreign lenders were to significantly reduce their purchases of US-Treasury notes, without even dumping their current holdings, US long-term interest rates could zoom higher, and the US-dollar could crumble."
OT: from Richard Russell's Dow Theory Letters 7/6/09 on the Wall Street and banks "bailout."
Frank Rich in the Sunday New York Times notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
Russell Comment --The whole bailout campaign stinks to high heaven. It was created and run by Wall Street -- FOR Wall Street.
Again, I say, personally, I wouldn't have lifted a finger to bail Wall Street out. Let all these Wall Street thieves stew in their own toxic juices. Thieves should be out on the street or in jail, not luxuriating in government bailout money. In the end, the bailouts will simply extend the bear market in stocks and the economy. The Wall Streeters will be richer, and the nation will be poorer, choking on trillions in debt that will keep future generations struggling to deal with the sins of Wall Street. Too bad Obama didn't have the courage (or knowledge) to tell the nation what was going on. Obama should have said, "sit tight" and "this too shall pass." Unfortunately, after the trillions spent in bailouts, "this too will not pass."
So to put the $2.5T "bailout" in perspective:
The US-government's publicly traded debt is about $7 trillion, representing nearly 50% of the size of the US-economy.
Below I include two paragraphs by Gary Dorsch, editor of the Global Money Trends Newsletter. These two paragraphs do a great job in explaining what could happen to the US dollar and why there could be a flight to gold.
"In the midst of the longest and deepest, post World-War II recession, America's financial position with the rest of the world has deteriorated sharply. Three decades of massive trade deficits have turned the United States from the world's top lender to the world's largest debtor, - and dependent upon the whims of the so-called emerging nations, laden with huge foreign currency reserves, to finance the bailout of Wall Street Oligarchs, and President Barack Obama's social programs.
"Foreigners own roughly half of the US-government's publicly traded debt, or $3.47-trillion, representing nearly 25% of the size of the US-economy, the highest level in history. If foreign lenders were to significantly reduce their purchases of US-Treasury notes, without even dumping their current holdings, US long-term interest rates could zoom higher, and the US-dollar could crumble."
Read it and weep.
OT: from Richard Russell's Dow Theory Letters 7/6/09 on the Wall Street and banks "bailout."
Frank Rich in the Sunday New York Times notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
Russell Comment --The whole bailout campaign stinks to high heaven. It was created and run by Wall Street -- FOR Wall Street.
Again, I say, personally, I wouldn't have lifted a finger to bail Wall Street out. Let all these Wall Street thieves stew in their own toxic juices. Thieves should be out on the street or in jail, not luxuriating in government bailout money. In the end, the bailouts will simply extend the bear market in stocks and the economy. The Wall Streeters will be richer, and the nation will be poorer, choking on trillions in debt that will keep future generations struggling to deal with the sins of Wall Street. Too bad Obama didn't have the courage (or knowledge) to tell the nation what was going on. Obama should have said, "sit tight" and "this too shall pass." Unfortunately, after the trillions spent in bailouts, "this too will not pass."
So to put the $2.5T "bailout" in perspective:
The US-government's publicly traded debt is about $7 trillion, representing nearly 50% of the size of the US-economy.
Below I include two paragraphs by Gary Dorsch, editor of the Global Money Trends Newsletter. These two paragraphs do a great job in explaining what could happen to the US dollar and why there could be a flight to gold.
"In the midst of the longest and deepest, post World-War II recession, America's financial position with the rest of the world has deteriorated sharply. Three decades of massive trade deficits have turned the United States from the world's top lender to the world's largest debtor, - and dependent upon the whims of the so-called emerging nations, laden with huge foreign currency reserves, to finance the bailout of Wall Street Oligarchs, and President Barack Obama's social programs.
"Foreigners own roughly half of the US-government's publicly traded debt, or $3.47-trillion, representing nearly 25% of the size of the US-economy, the highest level in history. If foreign lenders were to significantly reduce their purchases of US-Treasury notes, without even dumping their current holdings, US long-term interest rates could zoom higher, and the US-dollar could crumble."
Read it and weep.
OT: from Richard Russell's Dow Theory Letters 7/6/09 on the Wall Street and banks "bailout."
Frank Rich in the Sunday New York Times notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
Russell Comment --The whole bailout campaign stinks to high heaven. It was created and run by Wall Street -- FOR Wall Street.
Again, I say, personally, I wouldn't have lifted a finger to bail Wall Street out. Let all these Wall Street thieves stew in their own toxic juices. Thieves should be out on the street or in jail, not luxuriating in government bailout money. In the end, the bailouts will simply extend the bear market in stocks and the economy. The Wall Streeters will be richer, and the nation will be poorer, choking on trillions in debt that will keep future generations struggling to deal with the sins of Wall Street. Too bad Obama didn't have the courage (or knowledge) to tell the nation what was going on. Obama should have said, "sit tight" and "this too shall pass." Unfortunately, after the trillions spent in bailouts, "this too will not pass."
So to put the $2.5T "bailout" in perspective:
The US-government's publicly traded debt is about $7 trillion, representing nearly 50% of the size of the US-economy.
Below I include two paragraphs by Gary Dorsch, editor of the Global Money Trends Newsletter. These two paragraphs do a great job in explaining what could happen to the US dollar and why there could be a flight to gold.
"In the midst of the longest and deepest, post World-War II recession, America's financial position with the rest of the world has deteriorated sharply. Three decades of massive trade deficits have turned the United States from the world's top lender to the world's largest debtor, - and dependent upon the whims of the so-called emerging nations, laden with huge foreign currency reserves, to finance the bailout of Wall Street Oligarchs, and President Barack Obama's social programs.
"Foreigners own roughly half of the US-government's publicly traded debt, or $3.47-trillion, representing nearly 25% of the size of the US-economy, the highest level in history. If foreign lenders were to significantly reduce their purchases of US-Treasury notes, without even dumping their current holdings, US long-term interest rates could zoom higher, and the US-dollar could crumble."
Read it and weep.
OT: Frank Rich in the Sunday New York Times notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
OT: Frank Rich in the Sunday New York Times notes that Wall Streeters have put a big one over on the confused American people. He compares Madoff's thievery to the much bigger robbery pulled off by Wall Streeters. Writes Rich, "The estimated $65 billion involved in Madoff's flimflam is dwarfed by the more than $2.5 trillion paid so far by American taxpayers to bail out those masters of Wall Street's universe. AIG alone has already left us on the hook for $180 billion. It's hard for those who didn't have money with Madoff to get worked up about him when so many of the era's real culprits have slipped away scot-free. Already, some of these same players are up to similarly greedy shenanigans again, now that the coast seems to be clear.
"Washington had no choice but to ride to their rescue last fall to prevent an even greater systemic catastrophe. As the economist, Joseph Stiglitz wrote in this month's Vanity Fair, 'In the developing worlds, people look at Washington and see a system of government that allowed Wall Street to write self-serving rules which put at risk the entire global economy-- and then, when the day of reckoning came, turned to Wall Street to manage the recovery. They see continued re-distributions of wealth to the top of the pyramid, transparently at the expense of ordinary citizens....
"The Times reported on Thursday, the institutions that received the most bailout loot are often the biggest offenders. That would include the too-big-to-fail Citigroup, which has so far received $45 billion in taxpayers money, along with guarantees on $300 billion in toxic assets, to mitigate its reckless risk-taking during the reign of such obscenely rewarded (and now departed) executives as Charles Prince and Robert Rubin. While taxpayers will soon own some 34% of Citi, it is not only increasing our credit card interest rates (to nearly 30% in some cases) but raising its own base salaries (by 50%) to work around Washington's new restrictions on bonuses....
"What's uncontroversial and indisputable is that Goldman alumni have played key roles in both the Bush and Obama administrations' responses to the current crisis, even though Goldman has a big stake in the outcome. ... Goldman also rules at the New York Fed, a supposed monitor of Wall Street. Until May, the Fed's Chairman was serving simultaneously on the Goldman board. He resigned only after the Wall Street Journal reported that he was also still buying Goldman stock during his Fed tenure. At least the other failed watchdog, the Securities and Exchange Commission, has now cleaned house."
New P&F Pattern @$18.42, "Ascending Triple Top Breakout on June 29, 2009." Bullish Price Obj: $24.50.
Southwest Airlines Begins Service at LaGuardia
Press Release
Source: Southwest Airlines
On Sunday June 28, 2009, 10:00 am EDT
NEW YORK, June 28 /PRNewswire-FirstCall/ -- Southwest Airlines today celebrated the airline's new service at LaGuardia with its "New Service, New Attitude, New York" themed celebration. Southwest Customers and Employees dined on New York style bagels while being serenaded by Southwest's rapping flight attendant, David Holmes. Southwest Airlines' Senior Vice President of Operations Greg Wells joined the Port Authority of New York and New Jersey's Director of Aviation William R. DeCota in a morning news conference at LaGuardia to launch the airline's new service. Click Southwest Airlines to see the full LaGuardia schedule or to book a flight to or from New York City.
"Southwest Airlines is celebrating a truly momentous occasion today. Finally New York travelers can experience our unmatched record in Customer Service and our phenomenally low fares at an airport close to where they work and play," said Wells. "Additionally, Customers in both Chicago and the DC area now have a new low fare choice when planning trips into LaGuardia."
Southwest Airlines is now serving New York City travelers from LaGuardia with eight daily nonstop flights--five daily nonstops to Chicago Midway and three daily nonstop flights to Baltimore/Washington. In addition to the eight daily nonstop flights, Southwest Airlines will offer direct or connecting service to more than 45 destinations from New York City, including: Las Vegas, Denver, Los Angeles, Seattle, and San Diego, just to name a few. To view all of Southwest's destinations from LaGuardia visit www.southwest.com . Southwest Airlines operates from Gate B4 in LaGuardia's Central Terminal Building.
"Our customers are our number one priority and Southwest Airline's new service out of LaGuardia provides not only excellent service, but also a cost-efficient choice for our customers to some of the nation's most important destinations, " said Bill DeCota, Director of Aviation for the Port Authority of NY and NJ.
This morning's press conference was one of the many weekend activities organized to commemorate Southwest Airlines' new service to LaGuardia and to introduce the Southwest brand to the New York City market. Earlier in the week, Southwest Airlines celebrated at the Southwest Porch at Bryant Park with Customers and Employees. Southwest Employees will continue its community involvement today through a volunteer activity at Flushing Meadows where Employees will clean up the park.
"Southwest Airlines is dedicated to getting involved in the communities we serve," said Wells. "Today we're cleaning up Flushing Meadows Park, and our Employees will be mentoring at MS-8 New Prep Middle School here in Queens in the coming school year--just one more way Southwest can bring its vivacious Spirit to New York City."
When shopping for Southwest online, it's important to know that Southwest Airlines low fares are only available at www.southwest.com. Not only will Customers find Southwest's great rates online at www.southwest.com, but the site also hosts Southwest's Travel Guide where Customers can check out New York City travel tips posted by those who frequent the Big Apple. To get an insider perspective on Southwest's LaGuardia opening check out Southwest's blog--Nuts About Southwest and see the following post: http://www.blogsouthwest.com/blog/a-new-york-state-mind.
After 38 years of service, Southwest Airlines, the nation's leading low-fare carrier, continues to stand above other airlines--offering a reliable product with exemplary Customer Service, and no hidden fees. Southwest Airlines is the most productive airline in the sky and offers Customers a comfortable traveling experience with all premium leather seats and plenty of legroom. Southwest recently updated its gate areas and improved its boarding procedure to make flying Southwest Airlines even more convenient. Southwest Airlines (NYSE: LUV - News), the nation's largest carrier in terms of domestic passengers enplaned, currently serves 66 cities (adding Boston Logan and Milwaukee later this year) in 33 states. Based in Dallas, Southwest currently operates more than 3,300 flights a day and has more than 35,000 Employees systemwide.
www.southwest.com
July 21, 2009 next earnings for LUV for Q2-2009.
Average estimate is $0.08 per share; revenues $2.61B.
741M shares outstanding (source: Yahoo).
Oil price chart: http://stockcharts.com/h-sc/ui?s=%24wtic
Also check out the Gallery View at bottom of page.
July 23, 2009 next earnings date for ALK for quarter ending June, 2009.
Average Estimate: $0.45
Revenue Estimate: $809M
Friday, June 12, 2009; Alaska Air plans $50M stock buyback
Alaska Air Group Inc. said it plans to buy up to $50 million of its common stock.
The Seattle parent of Alaska Airlines and Horizon Air said the stock purchase will be financed with cash on hand.
“Even after the repurchase, Alaska Air Group will continue to have the best liquidity position among major U.S. airlines,” said Bill Ayer, CEO and chairman, in a statement.
In 2007 and 2008, Alaska Air Group bought back nearly $112 million of its common stock.
ALK Q1-2009 Institutional Ownership;
http://www.nasdaq.com/asp/holdings.asp?symbol=ALK&selected=ALK&FormType=Institutional
Total Shares Out Standing (millions): 36
Market Capitalization ($ millions): $653
Institutional Ownership: 90.1%
Price (as of 6/26/2009) 17.95
Ownership Analysis # Of Holders Shares
Total Shares Held: 195 32,772,167
New Positions: 22 2,649,339
Increased Positions: 81 7,473,007
Decreased Positions: 97 6,242,186
Holders With Activity: 178 13,715,193
Sold Out Positions: 41 2,924,377
Owner Name; Shares Held; Change (Shares) % Change; (Shares); Value ($1000)
PRIMECAP MANAGEMENT: 2,562,550 (16,300) (0.63%) $45,998
DIMENSIONAL FUND ADV: 2,175,000 (271,020) (11.08%) $39,041
BARCLAYS GLOBAL INVE: 2,087,201 (183,189) (8.07%) $37,465
STATE STREET CORP: 1,950,716 457,009 30.60% $35,015
FMR LLC: 1,856,200 (307,400) (14.21%) $33,319
ALK @ $17.95 6/26/2009. Market cap $653M.
(sources Yahoo, unless otherwise stated).
$30.95 52 week high (01/01/2009);
$10.10 52 week low (07/15/2008).
Shares Outstanding 36.39M. 90.9% held by Institutions; 0.35% by Insiders.
Fiscal Year Ends: 12/31/xxxx.
This is what IDM should have sold for!
No, I have no idea what it means, maybe a typo? In my account it says "submitted for tender" and with what was the daily price of the stock when it was still trading. Call your broker.