sleepy
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Many EU nations are unlikely to surrender to the tight centralized restrictions demanded by German Chancellor Angela Merkel in return for a rescue. Merkel's voters, meanwhile, are terrified of hyperinflation, an unlikely but not impossible outcome of printing trillions of euros to buy up sovereign debt and restructure it. Even with an unlikely rescue, much of Europe faces years of hard times.
Beyond this, things get complicated, ugly and terrifying.
"The path of the eurozone is becoming clear," MIT economist Simon Johnson and Peter Boone, a senior fellow at the Peterson Institute for International Economics, wrote on Bloomberg News recently. "As conditions in Europe worsen, there will be fewer euro-denominated assets that investors can safely buy. Bank runs and large-scale capital flight out of Europe are likely."
Among the events that turned the severe contraction of 1930-31 into the Great Depression was a series of defaults in Europe that essentially destroyed the world financial system.
That couldn't happen again, could it? http://goo.gl/cjY98
Occupy L.A.: 30 tons of debris left behind at City Hall tent city
http://goo.gl/v6Ye1
Goodbye Barney Frank, and Thanks for the Housing Crisis http://goo.gl/SazCV
Gumby-Like Flexible Robot Crawls in Tight Spaces
Harvard scientists have built a new type of flexible robot that is limber enough to wiggle and worm through tight spaces. http://goo.gl/rBNOO
Inergy, L.P. (NYSE:NRGY) , a propane gas supplier, reported that on November 21, 2011, its officer, W. Gautreaux, bought 20,000 shares of the company for a total value of $469,000 at an average value of $23.45 per share. Shares declined 1.79 percent, or $0.43, to trade at $23.56.
http://www.newsystocks.com/news/4107982
Moody’s Cuts Norway’s Eksportfinans to Junk
Moody’s downgraded Eksportfinans’s issuer and senior debt ratings to Ba1 from Aa3 ... http://goo.gl/M1mRc
A US agency has ruled that Apple did not violate graphic patents owned by S3 Graphics, a unit of Taiwan's HTC.
S3, which makes image compression technology, filed a complaint with trade agency, ITC, in May 2010.
The company accused Apple of infringing four patents, which it said were used widely in a range of Apple products.
http://goo.gl/iJSzr
Apple wins a key patent-infringement ruling against an HTC unit, while Focus Media ADRs plunge on Muddy Waters allegations. http://goo.gl/26vGK
BofA Warned to Get Stronger
Bank of America Corp.'s board has been told that the company could face a public enforcement action if regulators aren't satisfied with recent steps taken to strengthen the bank, said people familiar with the situation. http://goo.gl/Cxoyb
The amount of money missing from customer accounts at MF Global Holdings Ltd.'s brokerage unit could total over $1.2 billion, more than double the previous estimate. http://goo.gl/Fh6Em
Stuffit, hilarious video. Thanks!
cooler
Analysts See 10% Rise for Europe Profits
As Europe’s debt crisis raises the risk of a recession, companies in the region show no signs of slowing with earnings growth poised to top their U.S. rivals.
Net income for companies in the Stoxx Europe 600 Index will rise by 10.5 percent in 2012 after increasing 11 percent this year, led by carmakers such as Porsche SE and retailers including Burberry Group Plc (BRBY), according to more than 12,000 analyst estimates compiled by Bloomberg. The gauge is headed for four straight years of income growth exceeding 10 percent, the longest streak since 1998, data show.
Bulls say the 16 percent tumble in European stocks since December has created bargains because profit growth will exceed the 10.1 percent estimated for U.S. companies, even though the economy in the 17-nation euro zone is expanding at one-third the pace, according to economists surveyed by Bloomberg. http://goo.gl/q6Dmo
Spain’s Rajoy Says ‘Hard Times Ahead’ After Landslide
Mariano Rajoy won the biggest parliamentary majority in a Spanish election in almost 30 years and told Spaniards to brace for difficult times as the nation fights to avoid being overwhelmed by the debt crisis.
Rajoy, 56, who said on Nov. 18 he hoped Spain wouldn’t need a bailout before he can be sworn in as prime minister in a month, has pledged to slash the budget deficit and regain the nation’s AAA credit rating, without saying how he will do it. He inherits a stagnant economy with a 23 percent unemployment rate and borrowing costs back at the levels Spain was paying before it joined the euro. http://goo.gl/PrCUA
General Electric is planning to move its 115-year-old X-ray division from Waukesha , Wis. , to Beijing . In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research
centers. This is the same GE that made $5.1 billion in the United States last year. but paid no taxes-the same company that employs more people overseas than it does in the united States .
So let me get this straight. President Obama appointed GE Chairman Jeff Immelt to head his commission on job creation (job czar). Immelt is supposed to help create jobs. I guess this President forgot to tell him in which country he was supposed to be creating those jobs. http://goo.gl/OqRoh
AND thank you Mr. Stuffit sir and others! I stumbled across this board several weeks ago and follow it religiously. Boob tube business channels are too slow and often lack relevant information. Here at this board, the volume of "data info points" allows me to access the current world market environment well before it's known to the regular financial masses. The early bird gets the worm!
Illinois unemployment rate rises to 10.1% http://goo.gl/VDUuA
European shares were set to fall sharply on Friday after closing at their lowest in six weeks in the previous session, with concerns mounting that borrowing costs in some euro zone countries could rise beyond sustainable levels and further deepen the debt crisis. http://goo.gl/2JvPr
stuffit, I'm guessing Obama is no long on Ann Barnhard's Christmas list. Great read -- sends some chills down my spine.
Perhaps the most ominous dynamic that I have yet heard of in regards to this mess is that of the risk of potential CLAWBACK actions. For those who do not know, “clawback” is the process by which a bankruptcy trustee is legally permitted to re-seize assets that left a bankrupt entity in the time period immediately preceding the entity’s collapse. So, using the MF Global customers as an example, any funds that were withdrawn from MFG accounts in the run-up to the collapse, either because of suspicions the customer may have had about MFG from, say, watching the company’s bond yields rise sharply, or from purely organic day-to-day withdrawls, the bankruptcy trustee COULD initiate action to “clawback” those funds. As a hedge broker, this makes my blood run cold. Generally, as the markets move in favor of a hedge position and equity builds in a client’s account, that excess equity is sent back to the customer who then uses that equity to offset cash market transactions OR to pay down a revolving line of credit. Even the possibility that a customer could be penalized and additionally raped AGAIN via a clawback action after already having their customer funds stolen is simply villainous. While there has been no open indication of clawback actions being initiated by the MF Global trustee, I have been told that it is a possibility.
With 15 trillion, in hundred-dollar bills, one could wrap a 40-yard wide ribbon around the equator. Okay, use ones instead and the ribbon is just a little over 2 miles wide.
What a clusterflux. I thought I saw it spike up to 8.34 or something. 20K in 2 minutes -- really sick.
tried to pick some up at 5 for a quick turn-around but I needed Mr Miyagi's chopsticks to catch that one.
RMBS day trading Range:4.00 - 18.55
down 60%
Rambus Loses Antitrust Case Vs. Micron, Hynix; No Damages
http://goo.gl/ycXQg
Unable to find when trades resume. Anyone?
http://www.nasdaqtrader.com/Trader.aspx?id=Tradehalts
cantplaytennis unabletoplaytennis
#rambus Jurors is discharged by Judge.
10 seconds ago
cantplaytennis unabletoplaytennis
#rambus 9 yes and 3 no
28 seconds ago
ouch!
thank you! for the link:
acherylc Acherylc
All lawyers just came in. Jurors are talkative with eachother. We are waiting for the jidge
cantplaytennis unabletoplaytennis
#rambus I'm still not feeling well from food poisoning. Little dizzy. More Ramboids came to cout also. Nice to see that.
and another tweet:
cantplaytennis unabletoplaytennis
#rambus The settlement clerk is here in court also sitting next to the Jurors. She is the clerk that helps in settlement talks after verdict
And if they defecate in the park I would rub their face in it like a dog. My parents owned 10 blocks of homes/apartments back in the 60-80's in S. Calif. By gaming the system, one could live rent free anywhere from 6-18 months. They were typically welfare recipients. I remember cleaning up after they finally were forced out -- literally torn apart, defecated on the walls, up to your knees in junk; etc. The OWS crowd reminds me of this type of scum.
Barloworld Ltd. received orders from Vale SA’s Mozambique operations for 10 Caterpillar Inc. 797 “megatrucks,” which will add at least $400 million to revenue, Chief Executive Officer Clive Thomson said. http://goo.gl/FybFP
3Q11 Thailand Mobile Operator Forecast, 2011 - 2015: Thailand to have 84.7 million mobile subscriber connections in 2015 with DTAC taking 31% market share http://goo.gl/qGOKW
Emirates Orders 50 GE90-115B-Powered Boeing 777-300ER Aircrafts. The engine order list price and service agreement is valued at approximately $6 billion (USD) over the life of the contract. http://goo.gl/z7KO8
Walt Disney Co. said its profit jumped 30% in its fourth quarter, driven by strong results in its theme-parks and television divisions, and the company posted record profit and revenue for the fiscal year.
... http://goo.gl/zn8We
Latest Starbucks Concoction: Juice
The coffee chain is buying a small, upscale juice maker Evolution Fresh Inc. for $30 million—a deal that pushes Starbucks well beyond its coffee roots and shows how serious the company is about transforming itself into a consumer products player with a large presence outside its own stores.
... http://goo.gl/xkyFd
Inside the Hunt for MF Global Cash
Regulators hunting for about $600 million in customer money that went missing shortly before MF Global Holdings Ltd. collapsed said they are being stymied by the poor condition of the securities firm's records.
"Their books are a disaster," Scott O'Malia, a commissioner at the Commodity Futures Trading Commission, one of the regulators leading a hunt that has stretched 10 days so far, said in an interview. "We're trying to figure out what numbers are the real numbers."
...
http://goo.gl/7AYz1
Northrop Grumman and Lockheed Martin 30,000-lb, "Big BLU", earth-penetrating weapon, may be in high demand.
U.S. Plans Bomb Sales in Gulf to Counter Iran
The Obama administration has quietly drawn up plans to provide a key Persian Gulf ally with thousands of advanced "bunker-buster" bombs and other munitions, part of a stepped-up U.S. effort to build a regional coalition to counter Iran.
http://goo.gl/oZp3D