Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Stocks' latest rally may trip on harsh data
Friday December 5, 8:07 pm ET
By Deepa Seetharaman
NEW YORK (Reuters) - Extending Friday's rally into next week is a tall order for U.S. stocks, given more data set to show the job market and retail sector are in deep distress and little hope for a respite from dismal corporate outlooks.
Uncertainty about the fate of ailing U.S. automakers is another big wild card. U.S. lawmakers could start debate on whether and how to rescue GM, Ford and Chrysler as early as Monday, with no clear visibility on a likely outcome.
More headwinds are due late in the week from a spate of key economic reports.
On Thursday, the U.S. Labor Department is likely to say first-time claims for unemployment benefits held above the 500,000 level for a fourth straight week. Then on Friday, the Commerce Department is expected to report that retail sales fell in November for the fifth month in a row, the longest streak of monthly declines since the government started tracking the data in 1992.
"There's no place to hide," said Eric Kuby, chief investment officer, North Star Investment Management Corp in Chicago. "It's clear that the economy is really soft for the next few months at least. The news will continue to be bad and everyone knows that."
Wall Street ended on a decidedly upbeat note on Friday, but major U.S. indexes still fell for the week, amid a slew of negative economic data that underscored fears that the economic malaise has reached nearly every sector.
For the week, the Dow Jones industrial average (DJI:^DJI - News) slid 2.2 percent, while the Standard & Poor's 500 (^SPX - News) dropped 2.3 percent and the Nasdaq Composite Index (Nasdaq:^IXIC - News) shed 1.7 percent.
With just a few weeks left in the year, the Dow is down 34.9 percent for 2008, while the S&P 500 is off 40.3 percent and the Nasdaq is down 43 percent.
THROW OUT THE CRYSTAL BALL
A host of U.S. companies trimmed their financial outlooks this week, including blue-chip drugmaker Merck & Co Inc (NYSE:MRK - News) and chemical maker DuPont (NYSE:DD - News). Analysts expect there will be more to come.
"I keep hearing conference call after conference call -- we can't provide any more forecasts," Kuby said. "You're going to hear more of them say it's worse than we thought or we can't stick by our guidance anymore."
********Not even a Detroit bailout may provide the ammunition for a sustainable rally, analysts said.******************
"Ultimately, it is likely there will be some kind of package," said Doug Roberts, chief investment strategist at Channel Capital Research in Shrewsbury, New Jersey. But, at best, the measure would be a "Band-Aid."
Only a handful of S&P 500 companies are expected to post earnings next week, including tax-preparation firm H&R Block Inc (NYSE:HRB - News) and National Semiconductor Corp (NYSE:NSM - News).
JOBLESS CLAIMS, CONSUMERS AND PPI
Toward the end of the week, economic data will take center stage, with a spotlight on November retail figures and weekly jobless claims.
Other economic indicators include the Michigan consumer sentiment index and the Producer Price Index reported by the Labor Department. Producer prices are typically volatile, but broad-based declines in commodity prices suggest significant weaknesses in months ahead.
Few expect the results to be heartening, although after Wall Street shrugged off Friday's dismal employment report, some are starting to sense that the market is beginning to etch out a bottom.
"The market has this horrible news this morning, it didn't collapse," Kuby said.
Jobless claims will gain "extra significance," said Joe Kinahan, chief derivatives strategist at online brokerage
thinkorswim Group in Chicago, because of the dive in November employment reported on Friday morning.
The total reduction in U.S. nonfarm payrolls for the last year was nearly 1.3 million, with almost 2 million jobs shed so far this year.
Roberts of Channel Capital Research said Wall Street is riveted by the stream of data on job losses.
"With employment, there's so many announcements. That's what people are factoring in more than anything else," Roberts said. "They're asking, 'How far is the ripple across the economy?'"
(Additional reporting by Doris Frankel; Editing by Jan Paschal)
(The Wall St Week Ahead column appears every week. Comments or questions on this one can be e-mailed to: deepa.seetharaman(at)reuters.com)
Some of you might find this online Bible helpful:
http://www.biblegateway.com/passage/?book_id=13&chapter=29&version=31"%20href="http://www.biblegateway.com/passage/?book_id=13&chapter=29&version=31"%20target="_blank
Hi Mick,
Hadn't been shopping in ages, but decided to go to the mall a week or two ago. To me, prices were high and I wondered how the stores could afford to pay rent, etc. and survive with so few people there. Then I went with a few friends to a Ross store. It was a Saturday afternoon, there were no big specials etc. and the store was absolutely packed. There were 20+ people in some lines. Unbelievable!! I think if I was going to buy a retail store I'd look into that one.
Lexi
CCL...Thanks, I'm waiting for $15 before I even buy any. It very well could go single digits before this recession is over.
Lexi
Dear Lord, I thank You for this day,
I thank You for my being able to see
And to hear this morning.
I'm blessed because You are
A forgiving God and
An understanding God.
You have done so much for me
And You keep on blessing me.
Forgive me this day for everything
I have done, said or thought
That was not pleasing to you.
I ask now for Your forgiveness.
Please keep me safe from all danger and harm.
Help me to start this day with a new attitude and plenty of gratitude.
Let me make the best of each and every day
To clear my mind so that I can hear from You.
Please broaden my mind that I can accept all things.
Let me not whine and whimper over things I have no control over.
And give me the best response when I'm pushed beyond my limits.
I know that when I can't pray , you listen to my heart.
Continue to use me to do Your will.
Continue to bless me that I may be a blessing to others.
Keep me strong that I may help the weak...
Keep me uplifted that I may have
Words of encouragement for others.
I pray for those that are lost
And can't find their way.
I pray for those that are misjudged and misunderstood.
I pray for those who don't know You intimately.
I pray for those that will delete this without sharing it with others, I pray for those that don't believe.
But I thank You that I believe that God changes people and God changes things.
I pray for all my sisters and brothers.
For each and every family member in their households.
I pray for peace, love and joy in their homes; that they are out of debt and all their needs are met.
I pray that every eye that reads this knows there is no problem, circumstance, or situation greater than God. Every battle is in your hands for you to fight
I pray that these words be received into the hearts of every eye that sees it in Jesus' name. Amen!
Lots of bad news today for CCL. So far it has dropped below $22.
What are your thoughts on CCL? They had good earnings, pay a dividend, however they say bookings are down. I need to buy some shares for a friend, but I think it's going to go much lower. Do you agree? In this economy I don't see how they won't suffer from fewer people taking cruises. Using fibs around 15 is one of the retracement levels.
Lexi
Greatly appreciate the CCL chart. Thank you!
Would you please do a chart for me on CCL? I need to buy some shares for a friend and I'm of the belief that in the next six months or so it's going to go a lot lower. They had good earnings, but bookings have lightened up and they have dropped their estimates for next quarter. I have ideas of where it might be going, but would appreciate your help.
Thanking you in advance,
Lexi
Would someone kindly do a chart for me on CCL? I have to buy someone some shares of it and I'm of the belief that with the economy being the way it is CCL should be going much lower. Earnings were good, but they said they didn't think this next quarter would be as good as expected.
Thanking you in advance,
Lexi
RAD...LOL Well, chart surely looks awful. I was thinking it might be a decent LT hold. It doesn't look like a strong buy based on that chart. LOL
RAD...I did some research on it and I'm thinking for the price (.51), it might have the potential for good gains if held for awhile. Thought this was interesting.....
This group bought awhile back in the 4's and can't find anywhere that they sold.
5-Oct-07 1,975,262 RAD Purchase at $4.54 - $4.71 per share.
(Cost of about $9,136,000)
4-Jun-07 250,000,000 RAD Statement of Ownership
http://biz.yahoo.com/t/13/6562.html
Since RAD is below $1 there is talk of a potential RS.
========================================================
Rite Aid Corporation is a retail drugstore chain in the United States. The Company operates its drugstores in 31 states across the United States and in the District of Columbia. As of March 1, 2008, it operated 5,059 stores. In its stores, the Company sells prescription drugs and an assortment of other merchandise, which it calls front-end products. Front end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise and numerous other everyday and convenience products, as well as photo processing. It offers approximately 3,000 products under the Rite Aid private brand. In June 2007, the Company completed the acquisition of 1,854 Brooks and Eckerd stores and six distribution centers from The Jean Coutu Group (PJC) Inc., creating a drugstore chain on the East Coast.
Institutional Ownership 41.40%
http://moneycentral.msn.com/companyreport?Symbol=RAD
RAD...I did some research on it and I'm thinking for the price (.51), it might have the potential for good gains if held for awhile. Thought this was interesting.....
This group bought awhile back in the 4's and can't find anywhere that they sold.
5-Oct-07 1,975,262 RAD Purchase at $4.54 - $4.71 per share.
(Cost of about $9,136,000)
4-Jun-07 250,000,000 RAD Statement of Ownership
http://biz.yahoo.com/t/13/6562.html
Since RAD is below $1 there is talk of a potential RS.
========================================================
Rite Aid Corporation is a retail drugstore chain in the United States. The Company operates its drugstores in 31 states across the United States and in the District of Columbia. As of March 1, 2008, it operated 5,059 stores. In its stores, the Company sells prescription drugs and an assortment of other merchandise, which it calls front-end products. Front end products include over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, beverages, convenience foods, greeting cards, seasonal merchandise and numerous other everyday and convenience products, as well as photo processing. It offers approximately 3,000 products under the Rite Aid private brand. In June 2007, the Company completed the acquisition of 1,854 Brooks and Eckerd stores and six distribution centers from The Jean Coutu Group (PJC) Inc., creating a drugstore chain on the East Coast.
Institutional Ownership 41.40%
http://moneycentral.msn.com/companyreport?Symbol=RAD
ABK...seeing that it and CHS are the only things green on my streamer, you may be right.:)
They're going to learn.:)
Yep...Hard times for sure.
Wowsa...Thanks for your post. Appreciate your input on this.
Good luck,
Lexi
TIDE..You are welcome. Don't look upon news as being a good thing in that they're selling assets; however, in this economy the big caps are really getting hurt, so would imagine it would be even harder for the micro-caps. I trade by TA and that says this stock price is improving.
TIDE...Think the chart looks like indicators are improving.
http://stockcharts.com/h-sc/ui?s=TIDE&p=D&yr=0&mn=6&dy=0&id=p07262671912
Wish you well if that's your choice.
TIDE(0.0040)Tidelands Oil & Gas Corporation (TIDE) Announces Sale of Its 20% Membership Interest in Frontera Pipeline LLC
Tuesday, October 21 2008 7:43 AM, EST PR Newswire "US Press Releases "
SAN ANTONIO , Oct. 21 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE) today announced the sale on October 14, 2008 of its remaining 20% interest in Frontera Pipeline LLC ("Frontera") to Grand Cheniere Pipeline LLC for $250,000 . Grand Cheniere Pipeline LLC is a subsidiary of Cheniere Energy, Inc. and, prior to this sale, was the 80% owner of Frontera, which owns the U.S. and Mexico subsidiaries engaged in the development of the Burgos Hub project. James B. Smith, President of the Company, stated, "We will use the proceeds from the sale for working capital purposes." The Company is also pursuing the funding of Company operations via the partial sale or financing of its interest in the Port Esperanza project.
About Tidelands Oil & Gas Corporation
Tidelands Oil & Gas Corporation through its subsidiaries, has engaged in the development and operation of transportation, processing, distribution, and storage projects for natural gas and natural gas liquids. Tidelands Oil & Gas Corporation is currently pursuing the development of an LNG receiving and regasification terminal in the offshore waters near Long Beach, California in the United States . Tidelands Oil & Gas is based in San Antonio, Texas .
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected", "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by the Company with the SEC.
Contact:
For more information about the Company, please contact
info@tidelandsoilandgas.com.
SOURCE Tidelands Oil & Gas Corporation
Mick...Thanks. News didn't look good to me; however, if you look at LNG the company that owned the 80% I have to question if they have the money to do the pipeline anyway and LNG either says if the pipeline goes or not.
Hope all is well with you. I'm holding ABK and waiting for news that should be forth coming regarding whether they get bailout money or not.
Lexi
Hi Mick...Is this a good or a bad thing? Volume HUGE so far.
===========================
TIDE(0.0040)Tidelands Oil & Gas Corporation (TIDE) Announces Sale of Its 20% Membership Interest in Frontera Pipeline LLC
Tuesday, October 21 2008 7:43 AM, EST PR Newswire "US Press Releases "
SAN ANTONIO , Oct. 21 /PRNewswire-FirstCall/ -- Tidelands Oil & Gas Corporation (OTC Bulletin Board: TIDE) today announced the sale on October 14, 2008 of its remaining 20% interest in Frontera Pipeline LLC ("Frontera") to Grand Cheniere Pipeline LLC for $250,000 . Grand Cheniere Pipeline LLC is a subsidiary of Cheniere Energy, Inc. and, prior to this sale, was the 80% owner of Frontera, which owns the U.S. and Mexico subsidiaries engaged in the development of the Burgos Hub project. James B. Smith, President of the Company, stated, "We will use the proceeds from the sale for working capital purposes." The Company is also pursuing the funding of Company operations via the partial sale or financing of its interest in the Port Esperanza project.
About Tidelands Oil & Gas Corporation
Tidelands Oil & Gas Corporation through its subsidiaries, has engaged in the development and operation of transportation, processing, distribution, and storage projects for natural gas and natural gas liquids. Tidelands Oil & Gas Corporation is currently pursuing the development of an LNG receiving and regasification terminal in the offshore waters near Long Beach, California in the United States . Tidelands Oil & Gas is based in San Antonio, Texas .
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected", "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by the Company with the SEC.
Contact:
For more information about the Company, please contact
info@tidelandsoilandgas.com.
SOURCE Tidelands Oil & Gas Corporation
AP IMPACT: Mortgage firm arranged stealth campaign
Sunday October 19, 12:49 pm ET
By Pete Yost, Associated Press Writer
AP IMPACT: Mortgage giant, GOP firm targeted Republican senators for defeat of regulatory bill
WASHINGTON (AP) -- Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.
In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI's chief executive is Doug Goodyear, whom John McCain's campaign later hired to manage the GOP convention in September.
Freddie Mac's payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel's bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.
In the midst of DCI's yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.
"If effective regulatory reform legislation ... is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole," the senators wrote in a letter that proved prescient.
Unknown to the senators, DCI was undermining support for the bill in a campaign targeting 17 Republican senators in 13 states, according to documents obtained by The Associated Press. The states and the senators targeted changed over time, but always stayed on the Republican side.
In the end, there was not enough Republican support for Hagel's bill to warrant bringing it up for a vote because Democrats also opposed it and the votes of some would be needed for passage. The measure died at the end of the 109th Congress.
McCain, R-Ariz., was not a target of the DCI campaign. He signed Hagel's letter and three weeks later signed on as a co-sponsor of the bill.
By the time McCain did so, however, DCI's effort had gone on for nine months and was on its way toward killing the bill.
In recent days, McCain has said Freddie Mac and Fannie Mae were "one of the real catalysts, really the match that lit this fire" of the global credit crisis. McCain has accused Democratic presidential candidate Barack Obama of taking advice from former executives of Fannie Mae and Freddie Mac, and failing to see that the companies were heading for a meltdown.
McCain's campaign manager, Rick Davis, or his lobbying firm has taken more than $2 million from Fannie Mae and Freddie Mac dating to 2000.
Obama has received $120,349 in political donations from employees of Freddie Mac and Fannie Mae; McCain $21,550.
The Republican senators targeted by DCI began hearing from prominent constituents and financial contributors, all urging the defeat of Hagel's bill because it might harm the housing boom. The effort generated newspaper articles and radio and TV appearances by participants who spoke out against the measure.
Inside Freddie Mac headquarters in 2005, the few dozen people who knew what DCI was doing referred to the initiative as "the stealth lobbying campaign," according to three people familiar with the drive.
They spoke only on condition of anonymity, saying they fear retaliation if their names were disclosed.
Freddie Mac executive Hollis McLoughlin oversaw DCI's drive, according to the three people.
"Hollis's goal was not to have any Freddie Mac fingerprints on this project and DCI became the hidden hand behind the effort," one of the three people told the AP.
Before 2004, Fannie Mae and Freddie Mac were Democratic strongholds. After 2004, Republicans ran their political operations. McLoughlin, who joined Freddie Mac in 2004 as chief of staff, has given $32,250 to Republican candidates over the years, including $2,800 to McCain, and has given none to Democrats, according to the Center for Responsive Politics, a nonpartisan group that tracks money in politics.
On Friday night, Hagel's chief of staff, Mike Buttry, said Hagel's legislation "was the last best chance to bring greater oversight and tighter regulation to Freddie and Fannie, and they used every means they could to defeat Sen. Hagel's legislation every step of the way."
"It is outrageous that a congressionally chartered government-sponsored enterprise would lobby against a member of Congress's bill that would strengthen the regulation and oversight of that institution," Buttry said in a statement. "America has paid an extremely high price for the reckless, and possibly criminal, actions of the leadership at Freddie and Fannie."
Nine of the 17 targeted Republican senators did not sign Hagel's letter: Sens. Mitch McConnell of Kentucky, Christopher "Kit" Bond and Jim Talent of Missouri, Conrad Burns of Montana, Mike DeWine of Ohio, Lamar Alexander of Tennessee, Olympia Snowe of Maine, Lincoln Chafee of Rhode Island and George Allen of Virginia. Aside from the nine, 20 other Republican senators did not sign Hagel's letter.
McConnell's office said members of leadership do not sign letters to the leader. McConnell was majority whip at the time.
Eight of the targeted senators did sign it: Sens. Rick Santorum of Pennsylvania, Mike Crapo of Idaho, Jim Bunning of Kentucky, Larry Craig of Idaho, John Ensign of Nevada, Lindsey Graham of South Carolina, George Voinovich of Ohio and David Vitter of Louisiana. Santorum, Crapo and Bunning were on the Senate Banking, Housing and Urban Affairs Committee and had voted in favor of sending the bill to the full Senate.
On Thursday, Freddie Mac acknowledged that the company "did retain DCI to provide public affairs support at the state and local level." On Friday, DCI issued a four-sentence statement saying it complied with all applicable federal and state laws and regulations in representing Freddie Mac. Neither Freddie Mac nor DCI would say how much Goodyear's consulting firm was paid.
Freddie Mac paid DCI $10,000 a month for each of the targeted states, so the more states, the more money for DCI, according to the three people familiar with the program. In addition, Freddie Mac paid DCI a group retainer of $40,000 a month plus $20,000 a month for each regional manager handling the project, the three people said.
Last month, the concerns of the 26 Republican senators who signed Hagel's bill became a reality when the government seized control of Freddie Mac and Fannie Mae amid their near financial collapse. Federal prosecutors are investigating accounting, disclosure and corporate governance issues at both companies, which own or guarantee more than $5 trillion in mortgages, roughly equivalent to half of the national debt.
Freddie Mac was so pleased with DCI's work that it retained the firm for other jobs, finally cutting DCI loose last month after the government takeover, according to the three people familiar with the situation.
Freddie Mac's problems began when Hagel's legislation won approval from the Senate committee.
Democrats did not like the harshest provision, which would have given a new regulator a mandate to shrink Freddie Mac and Fannie Mae by forcing them to sell off part of their portfolios. That approach, the Democrats feared, would cut into the ability of low- and moderate-income families to buy houses.
The political backdrop to the debate "was like bizarre-o-world," said the second of three people familiar with the program. "The Republicans were pro-regulation and the Democrats were against it; it was upside down."
Sen. Richard Shelby, the committee chairman at the time, underscored that in a statement Wednesday, saying that with Democrats already on their side, it was not surprising that Freddie Mac and Freddie Mae went after Republicans. "Unfortunately," said Shelby, R-Ala., "efforts then to derail reform were successful."
In a sign of bad things to come, Freddie Mac was already having serious problems in 2005. Auditors had exposed massive accounting issues, so improved regulation was one obvious remedy.
Once Freddie Mac's in-house lobbyists failed to keep Hagel's bill bottled up in the committee, McLoughlin responded by secretly hiring DCI.
DCI never filed lobbying reports with Congress about what it was doing because the firm was relying on a long-recognized gap in the disclosure law.
Federal lobbying law only requires reporting and registration when there are contacts with a legislator or staff.
"To have it stealthy, not to let people know who is behind this, in my opinion is unethical," said James Thurber, director of the Center for Congressional and Presidential Studies at American University who long has taught courses about lobbying.
Goodyear is a longtime political consultant from Arizona who resigned from the Republican convention job this year after Newsweek magazine revealed he had lobbied for the repressive military junta of Myanmar.
McLoughlin, Freddie Mac's senior vice president for external relations, was assistant treasury secretary from 1989 through 1992 in the administration of President Bush's father. McLoughlin served as chief of staff to Sen. Nicholas Brady, R-N.J., in 1982 and to Rep. Millicent Fenwick, R-N.J., from 1975-79.
Seven of the 17 targeted Republican senators were in the midst of re-election campaigns in 2006, and according to one of the three people familiar with the program, Freddie Mac and DCI hoped those facing tough races would tell their Republican colleagues back in Washington that "we've got enough trouble; you're making it worse with Hagel's bill."
Five of the seven DCI targets who ran for re-election in 2006 lost, and Senate control switched to the Democrats.
A Freddie Mac e-mail on May 4, 2006 -- the day before Hagel's letter -- details the behind-the-scenes effort that Freddie Mac and DCI generated to hold down the number of Republicans signing Hagel's letter urging a full Senate vote. It said:
"What I'm asking is that DCI get a few of their key well-connected constituents from each state to call in to the DC office of their Republican senators and speak to the (legislative director) or (chief of staff) and urge them not to sign the letter. The following could be used as a short script."
The proposed script read: "We can all agree that Fannie's and Freddie's regulator should be strengthened but unfortunately, S.190 goes too far and could potentially have damaging effects on Georgia's -- example -- home buyers."
According to the third of the three people familiar with the program, "DCI was asked to help keep senators from signing; it was a big part of their effort that year and it was viewed as a success since many DCI targets did not sign the letter."
DCI's progress after the first four months of the campaign was spelled out in a 19-page document dated Dec. 12, 2005, and titled, "Freddie Mac Field Program State by State Summary Report."
A snippet of a senator-by-senator breakdown of the efforts says this about Maine's Snowe:
"Philip Harriman, former state senator, co-chair of Snowe's 2006 campaign, personal Snowe friend, major GOP donor and investment adviser, has written the senator a personal letter on this issue. Dick Morin, vice president Maine Association of Mortgage Brokers, has been in direct contact with Sen. Snowe's committee staff, has sent a letter to Snowe, and is pursuing a dozen(s) of letters from his members."
On Wednesday, Snowe's office issued a statement saying that she "literally gets hundreds of 'Dear Colleague' letters seeking support for their positions that she does not sign. Had this legislation come up for a vote in 2006, she certainly would have considered it on its merits -- as she does every vote. Just last July, she voted for the housing bill that established a new, stronger regulator."
Rosario Marin, a staunch McCain supporter who spoke at the GOP convention in September, was among the people DCI used in carrying out the campaign.
Marin, the U.S. treasurer during the first term of the Bush administration, went to Missouri and to Montana, Burns' state, where she spoke out against Hagel's bill.
At the time, Burns, who ended up losing his re-election bid, was caught up in a Washington influence peddling scandal centering on disgraced lobbyist Jack Abramoff.
Marin's visit triggered a local newspaper story in which the reporter contacted Burns' staff for comment. Burns' office told the newspaper the senator was not supportive of the latest version of Hagel's bill.
On Wednesday, Marin, now state consumer services secretary in California, issued a statement confirming that her trips to Missouri and Montana were in her capacity as a DCI consultant.
The December 2005 summary listing 17 Republican targets outlines the inroads DCI was making.
"On day one" of the effort, Sen. George Allen of Virginia had not addressed Hagel's bill and his legislative aide for housing was not assigned to it, the report said.
"Today," the report added, "the senator is aware of the issue and ... at the moment he is undecided." Allen's deputy chief of staff "has said that the senator will take into consideration before he decides that Freddie Mac is located in Virginia and is one of the largest Virginia employers."
"Grasstops/opinion leaders James Todd, president, the Peterson Companies wrote to both senators," the report added. "Milt Peterson, the founder and CEO of the company is one of Allen's major donors."
In the end, Allen, who lost his bid for re-election in 2006, did not sign Hagel's letter.
DCI: http://www.dcigroup.com/
Freddie Mac: http://www.freddiemac.com/
Fannie Mae: http://www.fanniemae.com
http://biz.yahoo.com/ap/081019/the_influence_game_housing.html?printer=1
Take a look at TIDE and see what you think. Indicators have improved and SAR is under the candle.
ABK...Yes, agree with you.
ABK...IMHO their chances should be good for we certainly don't want major insurers going out of business. As far as what would happen to the stock price then, not sure if initially people would sell the news or ramp it on the good news. Hard to know how the market will take things these days. Any idea how other stocks that have received the money have acted directly after the news?
ABK...Yes, would agree that's part of the run up. However, I'm big on TA and if you look at the chart it has been showing improvement for quite awhile. With the weekly candle being above the previous week and the weekly MACD looking good it seems to me we're looking at a stock that will trade on a higher level than it has been doing.
G_Money,
Thanks for your prayers. My husband has been doing better. Weeks ago they drew two quarts of fluid out of his right lung and that helped a lot. Since then, along with his regular water pill, he takes a special one once a week and it has made all the difference. As the doctor said, different water pills pull water from different places. My husband has been sleeping in our bed, before that he had to sleep in the recliner. So it certainly has been positive progress. Again, thanks for your prayers and please continue them. They do make a difference.
Lexi
ABK...Tuesday is the meeting to see if they get bailout funds...
I'd watched ABK closely on Wednesday and saw that it remained in a tight range and ended the day with a narrow range candle. Pristine.com teaches that a narrow range candle often comes before a long candle. Well, they surely were right. In addition, look at historical prices and the HUGE volume on Friday - really significant IMHO.
http://finance.yahoo.com/q/hp?s=ABK
Lexi
I'd watched ABK closely on Wednesday and saw that it remained in a tight range and ended the day with a narrow range candle. Pristine.com teaches that a narrow range candle often comes before a long candle. Well, they surely were right. In addition, look at historical prices and the HUGE volume on Friday - really significant IMHO.
http://finance.yahoo.com/q/hp?s=ABK
Lexi
TIDE...Yes, chart has improved greatly even though price hasn't moved up, indicators are looking good for a move.
TIDE...finally the SAR is under the candle. CMF went positive and MACD on the daily is about to cross.
TIDE...finally the SAR is under the candle. CMF went positive and MACD on the daily is about to cross.
Thank you!
Do you have a link for the bailout package?
Lexi
From: lexi2004 10/11/2008 2:32:23 PM
of 148299
OCTOBER 10, 2008 The Angry Right Some disturbing--and embarrassing--behavior by McCain supporters.By JAMES TARANTO
A front-page story in yesterday's San Francisco Chronicle describes "a recent stream of attacks" on Barack Obama:
Then there have been the speakers at McCain-Palin rallies who continue, unchecked by the candidates, to refer to "Barack Hussein Obama"--the emphasis on his middle name is an implication that Obama, who is a Christian, is Muslim. The latest occurred Wednesday in Pennsylvania, when Bill Platt, the Lehigh County Republican chairman, mentioned Obama's former reluctance to wear an American flag lapel pin and said: "Think about how you'll feel on Nov. 5 if you see the news that Barack Obama, Barack Hussein Obama, is president of the United States."
McCain-Palin spokesman Paul Lindsay said, "We do not condone this inappropriate rhetoric, which distracts from the real questions of judgment, character and experience that voters will base their decisions on this November."
Regardless, some attending McCain-Palin rallies are responding to this kind of incitement. The Secret Service is investigating press reports that someone might have said "kill him" after Palin tried to connect Obama to former Weather Underground leader Bill Ayers. Some attending McCain's rally Wednesday in Pennsylvania interrupted him with shouts of "socialist," "terrorist" and "liar."
Politico's Jonathan Martin reports on the same phenomenon, which he describes as reflecting "the sort of visceral anger and unease that reflects a party on the precipice of panic." He notes a decided change in tone from the previous two Republican presidential campaigns:
Such contempt for Democrats is, of course, nothing new from conservative activists. But in 2000 and 2004, the Republican rank and file was more apt to ridicule Gore as a stiff fabulist or Kerry as an effete weather vane of a politician.
"Flip-flop, flip-flop," went the cry at Republican rallies four years ago, often with footwear to match the chant.
Now, though, the emotion on display is unadulterated anger rather than mocking.
For years this column has chronicled the follies and outrages of the Angry Left. If we are now seeing the emergence of an Angry Right, that is not a good sign for either the country or those on the conservative and Republican sides of the ideological and partisan divides.
Political hatred is not only wrong, it is counterproductive. As we observed in 2005, "one reason Democrats failed to unseat President Bush was that they were blinded by their hatred for him. This made them overconfident, as they mistook their emotions for facts."
Podcast
James Taranto discusses the Angry Right.
Furthermore, expressions of hatred are unattractive to those who do not share the feeling--a category that presumably includes almost all of the independent and undecided voters who will end up deciding the election. For the Obama campaign and its allies in the media, then, the Angry Right's behavior is an opportunity: a chance to make the other side--including the McCain campaign itself--look like a bunch of scary wackos.
Thus, this afternoon we got an email from good old John Kerry titled "John McCain's ugly campaign":
The reports are piling up of ugliness at the campaign rallies of John McCain and Sarah Palin. Audience members hurl insults and racial epithets, call out "Kill Him!" and "Off With His Head," and yell "treason" when Senator Obama's name is mentioned. I strongly condemn language like this which can only be described as hate-filled.
According to reports, every ad paid for by the John McCain campaign is now a negative ad--every single one!
Similarly, the San Francisco Chronicle piece we quoted portrays the entire McCain campaign as racist. "Veiled Racism Seen in New Attacks on Obama," the headline declares, adopting the passive-aggressive voice. The argument is weak. It conflates legitimate criticism of Obama with hateful slander, and it doubtless reflects the author's own prejudices. But the behavior of the Angry Right is the best evidence that there is something to those prejudices.
If Barack Obama is elected president, we fear the Angry Right will become angrier and less inhibited, just as the Angry Left did when President Bush and the Republicans were ascendant. It will be an embarrassing time to be a conservative--and Obama, like other presidents who were widely hated by the opposite side (Nixon, Reagan, Clinton, George W. Bush), may find himself a favorite for re-election as a result.
Yet there is a danger in all this for a President Obama as well. In retrospect it seems to us that the Angry Left helped drown out intelligent, and potentially constructive, criticism of the Bush administration and its policies. This produced its own sort of overconfidence.
Hurricane Katrina was surely the turning point. The things the left said about the administration's handling of the disaster were absurdly over the top, as this column noted repeatedly at the time. But that did not mean the administration conducted itself well or even adequately--and that is the standard to which the public holds its leaders. In politics, a stupid opposition can be a curse as well as a blessing.
http://online.wsj.com/article/best_of_the_web_today.html#printMode
He's up for re-election and his actions just might cause him his job.
One day after Lee County Sheriff Mike Scott sparked national controversy by referring to Democratic presidential candidate as Barack Hussein Obama, the federal government is investigating a complaint about his remark and members of the local ACLU and NAACP have called for an apology, saying Scott’s action was racist.
Meanwhile, Scott’s office has been inundated with more than 600 calls from people registering their support or opposition to what he said.
Scott, who is up for re-election, denies any wrongdoing.
“Unless he changed his name, my position hasn’t changed,” Scott said. “It seems very clear to me that people have one of three stances on this thing: There are those who dislike it, there are those who like it, and there are those who think it’s a whole big deal about nothing, which is where I stand.”
On Monday, Scott appeared in his uniform in front of more than 9,000 people at a rally for Republican vice presidential candidate Sarah Palin and used Obama’s middle name, Hussein. Critics say that by doing that Scott implied Obama is a Muslim. Obama, who is named for his Kenyan father, is a Christian. Scott did not refer to Palin or Republican presidential candidate John McCain by their full names at the event at Germain Arena in Estero.
Scott maintains he spoke only for himself and not on behalf of his office or the residents of Lee County. “Like every other elected official I am aware of, from president to governor to state representatives, etc., we engage in political activities whether for ourselves as candidates or for others,” Scott said.
A complaint sent to the U.S. Office of Special Counsel alleges that Scott violated the Hatch Act because his agency receives federal dollars, and Scott was engaging in political activity while on duty and in uniform. Erica S. Hamrick, senior attorney for the agency, said in an e-mail Tuesday that an investigation was being opened. Neither she nor her office could be reached for further comment Tuesday.
Spokespeople for McCain and Palin quickly distanced their camps from Scott’s use of the name. The Obama campaign could not be reached for comment.
Some also are questioning whether Scott violated the county code of ethics. The statute says no county government employees are allowed to wear any uniform or clothing that would identify them as such while engaging in a political campaign not sponsored by the county, even if they are off-duty. But the sheriff, according to Sgt. Larry King, is not considered an employee of the county — he is an elected official. His budget is approved by the county, but he answers to the governor and to his constituents.
Commissioner Tammy Hall said her office, too, received several calls about the matter, many from out-of-state. Hall said several of the people may not have been aware that the commissioners do not oversee the sheriff. She reiterated, though, that her office has a good working relationship with Scott and she backed his integrity.
Still, other local officials were outspoken against Scott’s choice of words. Lyle Olson, executive committee member for the Democratic Party of Lee County said the action showed “totally poor judgment.”
“It was meant to incite anti-Obama feelings,” Olson said. “Then he tries to claim it was his personal opinion, yet he was standing there in his uniform.”
James Muwakkil, founder of the 300-member Fort Myers Coalition for Justice and a life member of the NAACP and ACLU, called for a formal apology. He said that while he supports the sheriff’s right to speak his mind, he criticized him for doing so while in uniform. He felt it was an affront to all county residents who may not share the sheriff’s views. He also felt there were racial connotations.
“He spoke in an inflammatory manner,” Muwakkil said. “As a citizen he has the right to free speech, but not when he represents all people with that sheriff’s uniform. That uniform represents something much bigger than him. That uniform represents justice and equality for all people.”
According to the Florida Sheriff’s Association in Tallahassee, a sheriff can wear his uniform however he sees fit.
“It is up to his discretion,” said William Powers, general legal council for the association. “Deputies can not campaign in their uniforms, but the incumbent can because he’s an elected official.”
It is not the first time a Lee County Sheriff has found himself in the national hot seat. Former Sheriff John McDougall twice appeared on the “Today Show,” once denouncing abortion and again to warn tourists away from Lee County, saying it wasn’t safe. In 2000, he was arrested after he left office, when he tried bringing water to dying hospice patient Terri Schiavo in Pinellas Park.
• Video: Sheriff Scott speaks at Palin rally
From this morning's editions of The News-Press
Sheriff Mike Scott defended his use of Barack Obama’s middle name, “Hussein,” while on stage Monday at a rally for vice presidential hopeful Gov. Sarah Palin.
“I absolutely, unequivocally don’t regret saying it,” Scott said. “In order to be a speaker at this event, I had to give my full name — Michael Joseph Scott — to the Secret Service, even though I’m the sheriff of Lee County. So why would I apologize? Is there some kind of double standard here where I have to give my full name, but I can’t use his?”
Scott was one of several people who spoke before Palin’s arrival in front of a standing room-only crowd at Germain Arena.
When Scott took the stage, he declared the world had three types of people, “the ones who make things happen, the ones who watch what happens and the ones who wonder what happened. Let’s leave Barack Hussein Obama wondering what happened.”
The arena, about three-quarters full at the time, burst into screams and applause.
Obama’s middle name comes from his father, Barack Hussein Obama, Sr., who was from Kenya.
The name is of Arabic origin and is a common last name in Muslim countries in the Middle East and Africa. Obama is a Christian.
Peter Bergerson, a politics professor at Florida Gulf Coast University, said Scott isn’t the first person to use Obama’s middle name, and given that Election Day is four weeks away, he likely won’t be the last. Bergerson said he wasn’t sure of Scott’s intentions, but others have used Obama’s middle name to allude the Democrat might be Muslim. It also reminds people of Saddam Hussein.
“It’s been used by some conservative radio commentators and entertainers with a negative twist to it,” Bergerson said. “It could have been designed to remind people of Barack Obama’s father’s heritage, and it has a Muslim name to it.”
Scott’s comments immediately became the talk of the cable news networks. A McCain spokesman, Tucker Bounds, condemned the comments on MSNBC.
Palin’s spokeswoman Tracey Schmidt quickly sent out a press release, while the rally was still going on, distancing the Palin camp from the comment.
“We do not condone this inappropriate rhetoric, which distracts from the real questions of judgment, character, and experience that voters will base their decisions on this November.”
Scott said that didn’t change his stance.
“That’s somebody else’s comment, not mine,” he said. “I have nothing to apologize for.
“People have a date of birth, a Social Security number and a name. All I did was say the man’s name.”
When asked why he then didn’t use Palin’s middle name, he admitted he didn’t know it. He related there are times when he uses his daughter’s middle name, and this should be viewed as no different.
“I just wanted to use his full name,” Scott said. “And frankly, if this is such a hot-button issue, he, as a Harvard lawyer, could have changed it if he didn’t like it.”
Scott, who was wearing his uniform, said he was representing his own views, not his office.
He defended making those comments while in uniform, though.
“That’s what I wear every day,” Scott said. “That’s what I wore to the McCain rally in Tampa with my fellow sheriffs. But at no point did I say I was speaking on behalf of the sheriff’s office.”
— Staff writer Dave Breitenstein contributed to this story.
http://www.news-press.com/apps/pbcs.dll/article?AID=/20081006/NEWS0107/81006002
TIDE...Volume high, ended the day on HOD, looks good to me for a move on Monday.
Lexi