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Biden's political advisors will be against the President taking any cognitive tests in my opinion.
Dow down 574 pts. > U.S. stocks lost ground Tuesday morning under the weight of more earnings reports, soft manufacturing data, a looming Federal Reserve interest rate decision Wednesday, and monthly jobs data on Friday.
VeeMost is a great $$$$$ opportunity.
JPMorgan, PNC Submit Bids to Buy First Republic in Government-Led Sale -- 3rd Update
10:09 pm ET April 30, 2023 (Dow Jones) Print
By Andrew Ackerman, David Benoit, Rachel Louise Ensign and Nick Timiraos
The Federal Deposit Insurance Corp. is reviewing bids for First Republic Bank and preparing to seize the lender, according to people familiar with the matter, weeks after a $100 billion deposit run shattered its business model.
Big banks including JPMorgan Chase & Co. and PNC Financial Services Group Inc. submitted offers for the troubled lender earlier Sunday, the people said, and the FDIC went back to the bidders with questions in the evening. The agency is expected to name a winner before First Republic opens Monday morning, the people said.
The March 10 failure of Silicon Valley Bank sent First Republic's stock down sharply, spooking well-heeled customers with balances exceeding the FDIC's $250,000 insurance limit. The stock has lost more than 90% of its value since early March.
The First Republic fire sale is an astonishing comedown for a lender that was long the envy of finance. With some $233 billion in assets at the end of the first quarter, it would be the second-largest bank to fail in U.S. history, behind Washington Mutual Inc. in 2008. Rounding out the top four are Silicon Valley Bank and Signature Bank, a New York-based lender that also failed in March.
Analysts said exactly how regulators resolve First Republic will be important in shoring up confidence in the broader banking system. Some said they don't expect a First Republic failure to kick off a new round of turmoil in the industry.
First Republic lost so many deposits so quickly that its business model no longer had much value, making it harder for the bank to raise capital, said Steven Kelly, a senior researcher at the Yale Program on Financial Stability.
"This is the last stages of that initial panic. First Republic's problems started as a result of SVB and Signature. It was a run on the business model," Mr. Kelly said. "This isn't the story of 2008, where one bank went down and investors focused on the next biggest bank, which would wobble."
First Republic's business model was built around gathering big deposits from rich customers and paying little or no interest on them. The bank, in turn, offered low-interest mortgages to those very same customers.
The strategy began to fray after the Federal Reserve started raising rates to quell inflation. Last month's customer panic doomed it.
A group of the nation's biggest banks, including JPMorgan and PNC, came to the rescue with a $30 billion deposit. First Republic hired outside advisers to craft a plan to shore up its finances, but buyers and investors were unwilling to pump money into the bank absent government support.
The deposit run cost First Republic dearly. In its first-quarter earnings report last week, the bank said it filled the $100 billion hole left by fleeing depositors with expensive loans from the Federal Reserve and Federal Home Loan Bank. The bank, in short, was facing a grim future where it would earn less on its loans than it was paying to borrow.
The earnings report sent the bank's stock down nearly 50% in one day. It continued to tumble as the week went on and closed at $3.51 a share on Friday, down from $115 in early March.
Regulators and bankers hoped the panic had eased after the government stepped in to make uninsured depositors at SVB and New York-based Signature Bank whole. But First Republic's badly damaged balance sheet left it with few good options.
Only a handful of banks could easily absorb First Republic's assets and deposits. Some of those, such as Wells Fargo & Co., face regulatory hurdles to expansion. Others are still digesting recent deals for other banks. Some banks that took a look at First Republic opted not to bid, including U.S. Bancorp and Bank of America Corp., according to people familiar with the matter.
Any sale that leads large banks to grow bigger could vex Democrats who have pushed for limits on industry concentration, including banking. But Rep. Ro Khanna (D., Calif.) said he disagreed with other progressive Democrats who have said the nation's largest banks shouldn't be allowed to get bigger by swallowing First Republic.
"I think that the FDIC needs to look at the lowest-cost alternative. That's their mandate," he said on CBS's "Face the Nation" on Sunday. "Right now, they may need to work with banks and private capital to save First Republic. That is the state we're in."
--Ben Eisen and AnnaMaria Andriotis contributed to this article.
Write to Andrew Ackerman at andrew.ackerman@wsj.com, David Benoit at David.Benoit@wsj.com, Rachel Louise Ensign at Rachel.Ensign@wsj.com and Nick Timiraos at Nick.Timiraos@wsj.com
(END) Dow Jones Newswires
April 30, 2023 22:09 ET (02:09 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
I believe we run to $1.00+ ..... within ten days after Finra symbol, and VeeMost PR's release.
Finra Ticker change soon. Then all heck will break loose here.
1) NO Dilution
2) Huge share reduction -90%
3) No toxic financing.
4) No debt.
5) Ticker is squeaky clean.
6) Huge exponentially growth market.
There is a lot more positives here. Maybe yall can elaborate on.
How about CNN anchor: Chuck U Farley .
Love that name, Wolf Howling and love American Thinker...thanks Gmen.
Agree! Soon new investors will be buying VeeMost shares fast & furious!
Does that Sheriff Dept. have a Fleet of Tesla Patrol Vehicles? Or is that the Sheriff's personal vehicle? I couldn't find any news on the incident.
It has finally happened! An accident involving a Sherrif in their Tesla behaving oddly & killing a driver in a F250.
AI & CYBERSECURITY >>>>> "In addition to providing strategic consulting and planning services, VeeMost offers implementation services, managed services, and technical services to organizations seeking to mitigate cyber security threats, meet regulatory requirements, and keep their businesses running smoothly. Our 24x7x365 NOC/SOC operation monitors our customers’ networks and security infrastructures, detects threats using AI and machine learning algorithms, and mitigates issues immediately to ensure seamless operations.
Soon so many new investors will discover the huge ongoing revenues generated by VeeMost. $75,000,000 + and add on the new government and industrial/ tech biz now in 2023.
After upcoming symbol change, a ton of revenue contracts will take VeeMost much higher. 100's of new investors will be loading huge blocks of shares!
OFFICIAL RULES FOR INDOOR GOLF
Each player will furnish his own equipment for play; normally, one club and two balls.
Course to be played must be approved by the owner of the hole.
Unlike outdoor golf, the object is to get the club in the hole and keep the balls out of the hole.
For the most effective play, the club should have a firm shift. Course owners are permitted to check the stiffness of the shaft before play begins.
Course owners reserve the right to restrict the length or girth of the club to avoid damage to the hole.
The object of the game is to take as many strokes as necessary until the course owner is satisfied. Failure to do so may result in being denied permission to play the course again.
It is usually considered bad form to begin playing the hole immediately upon arriving at the course. The experienced player will normally admire the entire course with special attention paid to well formed bunkers.
Players are cautioned not to mention any other courses that they have played. Upset owners have been known to damage a player's equipment for this reason.
Players should assure themselves that their match has been properly scheduled, especially on a different course being played for the first time. Previous players have been known to get irate if they find someone else playing what they considered their own private course.
Players should not assume a course is in shape for play at all times. Some owners may be embarrassed if their course is temporarily under repair, and the player is advised to use tact in this determination. More advanced players will find alternative means of play when this is the case.
It is considered the outstanding performance, time permitting, to play the same hole several times in one match.
Responsible indoor golfers always use a golf bag.
Course owners shall be the sole judge of who is the best player.
Players are not permitted to tee off on the back nine without the express permission of the course owner.
Mount Vesuvius >>>>> GANGBUSTERS!!!!!
AI & CYBERSECURITY >>>>> "In addition to providing strategic consulting and planning services, VeeMost offers implementation services, managed services, and technical services to organizations seeking to mitigate cyber security threats, meet regulatory requirements, and keep their businesses running smoothly. Our 24x7x365 NOC/SOC operation monitors our customers’ networks and security infrastructures, detects threats using AI and machine learning algorithms, and mitigates issues immediately to ensure seamless operations.
The retail giant Costco draws lines of customers, and cars, with its discount gas. That in turn is a strong traffic-draw for its stores in general. But, an executive recently underscored, Costco has no plans to return to EV charging in the next few years—and even though U.S. gasoline consumption has peaked, Costco says its market share continues to grow.
Tesla received two pieces of incremental negative news today. First, it received a downgrade from a formerly bullish Wall Street analyst. More disconcerting, a National Labor Relations Board (NLRB) administrative judge issued a negative decision on yet another labor issue for Tesla -- which isn't the first time this has happened.
After upcoming symbol change, a ton of revenue contracts will take VeeMost much higher. 100's of new investors will be loading huge blocks of shares!
VeeMost CEO > " We are primed for the surge in digital transformation demands which the world of work is presently experiencing. That world is changing and make no mistake - so are the threats to ever-digitizing business alongside it. Vigilance to ensure scalability in operations and consistent growth is today's prerequisite. "
LOL, no matter what IQ's the shareholders have, everyone will make significant bank by investing in VeeMost.
Agree 100%. Over analysis creates paralysis for some new investors. I am excited with VeeMost diversity in various worldwide biz. More ongoing revenue streams !
Hey, LandToSea ! CELU on my radar.
VeeMost partnering w/ Sam Amsterdam = continuous revenue growth this year. 2023 corporate & government cyber security issues provide Melvin and team ongoing biz challenges. > $$$$$
Oil is here to stay. Tell President Biden that the huge wind turbines have gear boxes . Many holding 80 gallons of Chevron Gear Oil.
Wegmans and Publix have 12 packs of Tranny Fluid on sale. Brought to you by Transheuser-Busch.
The rowdy audiences on Fox News w/ Hannity are great shows. A nice change in format.
VEEMOST IS A GREAT $$$$$ OPPORTUNITY.
Electric vehicles are heavier primarily because of the batteries used to power them, and the reinforced frame and suspension required to transport them.
All the internal components make EV batteries heavy. The battery forms the underfloor of most EVs. It covers almost the entire footprint of the vehicle, from axle to axle.
Engineers have warned that multi-story and underground parking garages could collapse under the weight of electric vehicles. Today, at least one person died and five others were hurt after a parking garage collapsed on Ann Street near Nassau Street in the Financial District in NYC. How many Tesla’s were in this garage?
Soon so many new investors will discover the huge revenues generated by VeeMost. $75,000,000 + and add on the new government and industrial/ tech biz now in 2023.
VEEMOST > STRONG PIPELINE : over $75,000,000 IN CONTRACTS.
It's all about exponential revenue growth! VeeMost continually cranking in new biz!
New symbol, + VeeMost name happening..... > any day may triple share price within 72 hours. All the new investors will discover a "table pounder" > VeeMost is a great $$$$$ opportunity.
VEEMOST (98%) > VeeMost Predictably > " Our contracts are such that often provide multi-year and long-term revenue streams as our client retention rate is above 98%."
Exactly! Multi-dollar run happening soon!
C'mon Melvin! Let's get it on !!!!! > It appears the VeeMost team is able to rack up multi million $$$$$ global contracts. 2023 is all about exponential revenue growth.
Biden touring castles in Ireland. He may get some ideas on how to remodel his Delaware home basement.
U.S. President Joe Biden to visit Northern Ireland and Republic of Ireland
Residents of a small town in Ireland are preparing for the highly-anticipated visit of U.S. President Joe Biden, who will visit the country after traveling to Northern Ireland.
01:05 - Source: CNN
Tesla Inc (NASDAQ:TSLA): Shares of Tesla closed 0.3% lower on Monday. Mike Gallagher, the Republican chair of the House of Representatives’ select committee on China’s Communist Party, stated on Monday that he was concerned about the EV-maker's dependency on China, reported Reuters.
Hey Melvin, Pentagon cybersecurity issues on all major TV News networks. Let's see some additional USA government contracts to manage all these leaks. I bet VeeMost is up for this massive challenge.
A leaked trove of classified documents outlining American and NATO war planning in Ukraine has sparked a US military investigation, the New York Times has reported. The briefing presentation slides, some marked “top secret,” show assessed troop strengths, timelines for arms shipments and ammunition expenditures, among other data.
The files appeared on social media earlier this week, and while the source remains unclear, the leaks have set off alarms in the Pentagon, which has launched a probe to determine how the documents were obtained, the NYT reported on Thursday.
“We are aware of the reports of social media posts and the department is reviewing the matter,” Pentagon spokesperson Sabrina Singh told the outlet.
Officials said they are working to have the material removed from the internet, but had not succeeded as of Thursday night.
US opposes NATO ‘roadmap’ for Ukraine – FTREAD MORE: US opposes NATO ‘roadmap’ for Ukraine – FT
One of the documents marked “top secret” provides the “Status of the Conflict as of 1 Mar.,” suggesting the slides are several weeks old. Though they do not describe any specific battle plans, the files offer a glimpse into US intelligence assessments for Russian and Ukrainian troop levels, timetables for training and equipment deliveries, weather data, as well as ammunition expenditures – including for the US-supplied HIMARS platform. The Pentagon has not previously disclosed the rate at which Ukrainian forces are using munitions for the weapon.
Some of the documents appear to have been altered, with multiple different versions circulating online showing wildly varying estimates for losses on both sides of the conflict.
Another file lists 12 new Ukrainian combat brigades – which are usually made up of 4,000 to 5,000 troops – noting that the US and NATO bloc are training and supplying nine of them. Of those, the document states that six would be ready by the end of March, and the remaining three by April 30.
If genuine the documents represent one of the most significant intelligence breaches since the beginning of the Russia-Ukraine conflict, and come as Kiev is reportedly preparing a major counter-offensive against Russian forces. One of the documents shows two possible routes into the Donbass, Zaporozhye and Kherson regions. It is unclear when the counter-attacks are set to begin, but Ukrainian Maj. Gen. Kyrylo Budanov recently claimed that the two sides would fight a “final” and “decisive battle” sometime in the spring.
https://www.rt.com/news/574334-leak-documents-ukraine-pentagon/
Excellent post! Appreciate your clarification!
New symbol, + VeeMost name happening any day may triple share price within 72 hours. All the new investors will discover a "table pounder" > VeeMost is a great $$$$$ opportunity.