Heh--I'm one of the biggest cynics on Wall Street--but these research labs that provide information? A lot of these shops are just over-hyped!
I can tell you firsthand how some of these shops work in biotechnology. They get Doctors who are expert witnesses, and they put them on the phone with hedge funds, and they tell them how the trials of the drugs are going and the perceived strengths and weaknesses. Quite frankly, the research lab is the one that is doing the selling.
These hedge funds, just need their ass covered. So then, they buy the position, and if it works out, their "information" is thusly good.
The "experts" are just paid hacks with glorified opinions. If they were so good--why would they have to sell the information? It's just another Wall Street daisy chain where information is passed around.
Heck, I've helped someone write one of these reports from some guys that wanted to create a report that seemed more based on fact than just on observation or innuendo!
Now I know that biotechnology is different than a lot of these expert consultants--especially in technology--but are you now going to tell me that Apple Insider is a research lab putting pout inside information?
Come on--this is a free press. We have opinions on things, and sometimes we glorify our opinion. Big deal.
So you want some "inside information?" I know some Doctors that can tell you that OncoGenex Pharmaceutical trials are much better and stronger than what the street thinks.
So lets say that you like OGXI. So cover yourself with a report on that from Raymond James! Use that where you got your information from.
Now if things work out well--the research lab, with a nod and an innuendo, will pretend that their information is better and is worth getting paid for!
And these hedge funds after a big score? It's no different that having a nice run at the craps table, and you tipping the dealer. They grease the research shop, because sometimes he'll have something good, and also, he'll always keep his mouth shut.
It's the same thing--- "What happens in Vegas, stays in Vegas!'
But the Feds say they got the goods on these guys. In fact, Cramer was telling us that. Which just means it's hogwash.
You want goods on somebody? Give me a takeover bid a few days before it happens. That's inside.
And that happens all the time.
But when you have information that is that good--you cover yourself. You don't give that information out to strangers, unless she's dancing for you at Scores!
But this research?
Give me a break!
If Mark Hurd can tip off a chick he wanted to sleep with of an upcoming takeover, and nothing happens, do you really think Wall Street is going to get busted?
I do know, having been both a Southeastern Conference president and a Big Ten president, that it's like murderer's row every week for these schools. We do not play the Little Sisters of the Poor. We play very fine schools on any given day.
"Yesterday we met with Cree. Our general impression is that the lull in various LED end markets will last into early C1Q11 but that the elements of a very strong 2011 are falling into place. Chinese street lighting quotations have resumed and point to renewed order momentum in 2011; design activity for next-generation LED luminaires is accelerating; and LED-LCD panel builds should pick up after the Chinese New Year. To be sure, there's a measure of uncertainty about exactly when China and LCD kick back in, but uncertainty is the building block of excess return. It's what allows you to buy a company likely facing exponential market growth opportunities for a 14x P/E (excl. cash). We'd buy it."
There are three key numbers to watch, listed in order of importance: nondefense capital goods orders excluding aircraft (core durable goods orders), initial jobless claims and personal consumption expenditures. Core durable orders are the most forward looking component of the three series mentioned, although the claims data are a very close second. Capex has been a real bright spot for the economy—we learned yesterday that it grew faster in Q3 than initially reported (+16.8% vs. +12.0%), and that it has risen 19% over the last year, the strongest four quarter increase since Q3 1984 (+20.1%). Some slowdown in capex is inevitable, but we expect a sturdy trend to continue for some time longer for two reasons: one, companies are flush with cash—free cash flow has never been higher; two, industrial capacity according to the Fed is still declining. This situation reflects the significant underinvestment in capex in the last cycle so firms need to replace depleted capital; this still has plenty of room to run given the underinvestment in technology spending in the last business cycle.
Wall Street's follies are always so transparent. After agreeing to a low ball buyout, J Crew then says they are disappointed in their prospects for the fourth quarter.
They are so disappointed that there are eager buyers chomping at the bit to buy the company!
It's just typical Wall Street lies and bullsh*t so they can sell the company on the cheap.
And take money from shareholders and give it to the Private Equity buyers.
It's just another J. Crew PRIVATESALE 20% off screw!
Once you became a reporter, you quickly got a job at Fox.
I sent my tape to Kim Hume, and she called me in the next day. While we were talking, her husband, Brit Hume, swung by the office and said, "Saw your tape. Loved it. How soon can we get you up to New York?" And I was like, I love him.
There were rumors about you two. He was psyched that people thought you were sleeping together, apparently.
I think Brit knew how preposterous it was to anyone with two nickels in between their ears. The first thing he said at his retirement dinner—this big affair down in D.C. with Vice President Cheney, Fred Thompson, Brian Williams—was "I haven't been this honored since that rumor about me having an affair with Megyn Kelly went around."
Niiiice.
And then he said, "I remember when that rumor first came out, and the Fox PR people called me and said, 'We have to tamp this down.' And I said, 'Well, do you have to tamp it down right away?' "
Fox News doesn't strike me as a place that minds a little locker-room talk.
It's certainly not an uptight place. Like today, I said "big-boobed" on air—I was quoting someone, in my defense—and you don't get in trouble for things like that at Fox.
And you sit behind a glass table that shows off your legs.
Well, it's a visual business. People want to see the anchor.
On November 21, 2010, I was allowed to enter the U.S. through an airport security checkpoint without being x-rayed or touched by a TSA officer. This post explains how.
Edit: Minor edits for clarity. I have uploaded the audio and it is available here.
This past Sunday, I was returning from a trip to Europe. I flew from Paris to Cincinnati, landing in Cincinnati/Northern Kentucky International Airport.
As I got off my flight, I did all of the things that are normally requested from U.S. citizens returning from abroad. I filled out the customs declarations, confirmed that I hadn’t set foot on any farmland, and answered questions about the chocolates that I had purchased in Switzerland. While I don’t believe that these questions are necessary, I don’t mind answering them if it means some added security. They aren’t particularly intrusive. My passport was stamped, and I moved through customs a happy citizen returning home.
But wait – here was a second line to wait in.
This new line led to a TSA security checkpoint. You see, it is official TSA policy that people (both citizens and non-citizens alike) from international flights are screened as they enter the airport, despite the fact that they have already flown. Even before the new controversial security measures were put in place, I found this practice annoying. But now, as I looked past the 25 people waiting to get into their own country, I saw it: the dreaded Backscatter imaging machine.
Now, I’ve read a fair amount about the controversy surrounding the new TSA policies. I certainly don’t enjoy being treated like a terrorist in my own country, but I’m also not a die-hard constitutional rights advocate. However, for some reason, I was irked. Maybe it was the video of the 3-year old getting molested, maybe it was the sexual assault victim having to cry her way through getting groped, maybe it was the father watching teenage TSA officers joke about his attractive daughter. Whatever it was, this issue didn’t sit right with me. We shouldn’t be required to do this simply to get into our own country.
So, since I had nobody waiting for me at home and no connecting flight to catch, I had some free time. I decided to test my rights.
After putting all my stuff through the x-ray, I was asked to go through the Backscatter. I politely said that I didn’t want to. The technician quipped to his colleague, “We’ve got an opt-out.” They laughed. He turned back and started to explain.
After he finished, I said, “I understand what the pat-down entails, but I wanted to let you know that I do not give you permission to touch my genitals or the surrounding area. If you do, I will consider it assault.”
He called his manager over, who again informed me of the policy. Throughout this event, this happened quite a few times. After raising my concerns regarding the policy to an officer, they often simply quoted back the policy. For the sake of brevity, I will simply say “Policy restatement.”
I said, “I am aware that it is policy, but I disagree with the policy, and I think that it is unconstitutional. As a U.S. citizen, I have the right to move freely within my country as long as I can demonstrate proof of citizenship and have demonstrated no reasonable cause to be detained.”
Policy restatement. “You have two options – the Backscatter or the pat down. It is your choice, but those are the only ways you can go through security.”
I asked if I could speak to his manager.
“I’m the supervisor here.”
“Do you have a manager?”
“Yes, but he’s very far away at the moment. And he’ll say the same thing I am.” Policy restatement.
At this point, I took out my iPhone, activated the voice recorder, and asked The Supervisor, “Per my constitutional rights, I am not allowed to be detained without reasonable cause for arrest. Now, am I free to go?”
He answered, “If you leave, we will call the APD.”
I asked, “Who is the APD?”
“The Airport Police Department.”
I said, “Actually, that’s probably a good idea. Let’s call them and your manager.”
The Supervisor turned and walked away without saying anything. I stood and waited, chatting to The Technician about how they aren’t allowed to wear radiation badges, even though they work with radiation equipment. He said, “I think I’m a couple steps ahead of you regarding looking out for my own health.”
I stood and waited for 20 minutes. Two cops showed up. Big ones. I admit, I did not want to be handcuffed by these guys.
One cop was older than the other, but they were still clearly partners. Neither of them took the lead on answering my questions, and neither of them told the other what to do. They came over to me and asked me to explain the issue. I first showed them the iPhone. After I explained my position, they restated the policy to me.
I said, “Yes sir. I understand the policy, but I still disagree and I still don’t think that I can be made to do these searches in order to go home. Now am I free to go?”
They didn’t answer.
I repeated the question. “Since you are actual police officers and not simply TSA, I am sure you have had much more training on my rights as a U.S. citizen, so you understand what is at stake here. So, am I free to go? Or am I being detained?”
Young Cop answers, “You aren’t being detained, but you can’t go through there.”
“Isn’t that what detaining is? Preventing me from leaving?”
“You can leave if you want, but it has to be that direction.” He points back towards customs. Young Cop asks, “Why are you doing this?”
I explain that I’m worried that the Backscatter has unproven health risks. And that for all he knows, I might be a sexual assault victim and don’t feel like being touched. I say that the policy is needlessly invasive and it doesn’t provide any added security.
He asks, “But didn’t you go through this when you left on your flight?”
“Yes,” I say, grinning, “But I didn’t want to miss my flight then.”
The cops leave, and I stand around and wait some more. It should be noted that throughout this time, no fewer than 10 TSA officers and technicians are standing around, watching me. I was literally the only one still waiting to go through security.
The cops, The TSA Supervisor, and another guy were standing behind the checkpoint deliberating about something. I explained this to my iPhone and The Supervisor shouted, “Does that thing have video?”
“No sir. Just audio.” I was telling the truth – I’m still on an iPhone 3G.
After a while, Young Cop comes and asks me for my papers. My passport, my boarding pass, my driver’s license, and even a business card. I give him everything except the business card. He told me that he was just gathering information for the police report, which is standard procedure. I complied – I knew that this was indeed standard.
He left, and a Delta Airlines manager comes over and starts talking to me. He is clearly acting as a mediator. He asks what I would consent to, if given my options. I explain that I want the least intrusive possible solution that is required. I say, “I will not do anything that is not explicitly stated on recording as mandatory.” He leaves.
Let me pause and clarify the actors’ moods here, because they will soon start to change:
The Supervisor: Very standoffish. Sticking to policy, no exceptions.
The TSA Officials: Mainly amused. Not very concerned otherwise.
The Cops: Impartial observers and consultants. Possibly a bit frustrated that I’m creating the troubles, but being very professional and respectful regardless.
The Delta Supervisor: Trying to help me see the light. He doesn’t mind the work - he’s here all day anyway, so he’d rather spend it ensuring that his customer is happy.
After another wait, Old Cop returns, and asks me what I want. I tell him, “I want to go home without going through the Backscatter and without having my genitals touched. Those are my only two conditions. I will strip naked here if that is what it takes, but I don’t want to be touched.”
He offers as an alternative, “What if we were to escort you out with us? It would involve a pat-down, but it would be us doing it instead.”
“Would you touch my balls?”
“I don’t want to touch your – genital region, but my hand might brush against it.”
I clarify, “Well, like I said, I’ll do whatever you say is mandatory. If you tell me that you have to touch my balls—“
“—I said no such thing. You’re putting words in my mouth.”
“OK. I apologize. If you say that a pat-down is mandatory, and that as a condition of that pat-down, I may have my genitals brushed against by your hand, even though you don’t want to, I will do that. But only if you say it is mandatory.”
“I’m not going to say that.”
“OK. So am I free to go?”
“You are free to go in that direction.” He points back towards customs. Then he walks away to commune with the others.
My iPhone is running out of battery, so I take out my laptop, sit in a corner, and plug it in. I have some work to do anyway, so I pull up Excel and start chugging away for about 20 minutes.
This is where the turning point happens.
The cops come back and start talking with me. Again, they are asking why I’m doing it, don’t I have a connection to make, etc. They are acting more curious at this point – no longer trying to find a contradiction in my logic.
I eventually ask what would happen if I got up and left, and just walked through security. They shrugged. “We wouldn’t do anything on our own. We are only acting on behalf of the TSA. They are in charge of this area.”
“So if he told you to arrest me, you would? And if he didn’t, you wouldn’t?”
“That’s right,” Young Cop says.
“OK well then I think it is best if we all talk together as a group now. Can you call them over?”
The Supervisor returns, along with the Delta Manager. The Supervisor is quite visibly frustrated.
I explain, “The police have explained to me that it is your call on whether or not I am being detained. If I walked through that metal detector right now, you would have to ask them to arrest me in order for them to do anything.”
He starts to defer responsibility to the officers. They emphasize that no – they have no issue with me and they are only acting on his behalf. It is his jurisdiction. It is policy. They won’t detain me unless he tells them to.
So I emphasize the iPhone again, and ask,” So, if I were to get up, walk through the metal detector, and not have it go off, would you still have them arrest me?”
The Supervisor answers, “I can’t answer that question. That is no longer an option because you were selected for the Backscatter.”
“Well you can answer the question because it is a yes or no question. If I got up and left, would you have them arrest me?”
“I can’t answer that question.”
The moods have changed. The cops are now frustrated with him because he’s pawning off his decision-making responsibility to them. He’s stopping what is clearly a logical solution to the problem. Meanwhile, the Supervisor is just growing more and more furious with me.
In another deferment of responsibility (which he probably thought was an intimidation factor), “Well then I guess I’m just going to have to call the FSD.”
Unphased, I ask, “What’s the FSD?”
“The Federal Security Director.” And he walks away.
I can see him talking on the phone to the FSD – a man apparently named Paul – and I can only catch parts of the conversation:
“No, he’s been perfectly polite…”
“We tried that…”
“All he said was … Constitutional rights”
He walks over to Old Cop and hands him the phone. I can hear similar sound bites. They hang up, deliberate some more, and then wait some more.
Meanwhile, I’m typing away on my computer. Answering emails, working on my Excel model – things that I would have done at home regardless.
The Supervisor walks over and stands uncomfortably close to me. After typing for a bit more, I look up. His voice shakes, “I don’t know if I ever introduced myself.” He pulls out his badge. “My name is XXX XXX. Here is my badge. Now, I’ve shown you my credentials.”
Ah – he’s gotten the Miranda talk. I hide my smile.
“Here’s what we’re going to do. I’m going to escort you out of the terminal to the public area. You are to stay with me at all times. Do you understand?”
“Will I be touched?”
“I can’t guarantee that, but I am going to escort you out.”
“OK. I will do this. But I will restate that I still do not give you permission to touch my genitals or the surrounding area. If you do, I will still consider it assault.”
“I understand.”
And then came the most ridiculous scene of which I’ve ever been a part. I gather my things – jacket, scarf, hat, briefcase, chocolates. We walk over to the staff entrance and he scans his badge to let me through. We walk down the long hallway that led back to the baggage claim area. We skip the escalators and moving walkways. As we walk, there are TSA officials stationed at apparent checkpoints along the route. As we pass them, they form part of the circle that is around me. By the end of the walk, I count 13 TSA officials and 2 uniformed police officers forming a circle around me. We reach the baggage claim area, and everyone stops at the orange line. The Supervisor grunts, “Have a nice day,” and leaves.
In order to enter the USA, I was never touched, I was never “Backscatted,” and I was never metal detected. In the end, it took 2.5 hours, but I proved that it is possible. I’m looking forward to my next flight on Wednesday.
Those latex gloves Transportation Security Administration agents wear while giving airline passengers those infamous full-body pat-downs apparently aren't there for the safety and security of passengers – only the TSA agents...
In fact, TSA officials in both national and regional offices declined to respond to WND inquiries about the policy for changing gloves to prevent an infection that may be on the clothes or body of one passenger during a pat-down by TSA agents from being transmitted to other passengers, including children, in line.
Martha Donahue in a commentary at Resistnet said she'd spent 30 years in the medical industry. "For those of you who fly and opt for the 'pat down,' you need to demand the TSA thugs change their gloves. I've been watching on the news how they operate. People are being searched [with] dirty gloves ... gloves that have been in crotches, armpits, touching people who may be ill, people who pick their noses. Do you want those gloves touching you?
"These thugs are protecting themselves from you. You need to be protected from them," she wrote. "In a hospital, nursing home, in-home care, or even labs, that would never even be considered an option."
"The woman who checked me reached her hands inside my underwear and felt her way around," the ABC employee said in the network's report. "It was basically worse than going to the gynecologist. It was embarrassing. It was demeaning. It was inappropriate."
Asked today about the possibility of contamination being spread from one passenger to another on the gloves of TSA agents, a spokesman for the CDC bailed.
"Please contact the Dept of Homeland Security and/or TSA on this issue," the spokesman told WND.
Michele Obama loves J. Crew clothes because they have such a slenderizing effect on her. That means she can still eat White House food, and still tell the world they are still fat and need to lose weight! But tomorrow, J Crew shareholders will get fatter as the company is selling itself!!
J. Crew, the trendy clothier of choice for the likes of Michelle Obama, is near a deal to sell itself for about $2.8 billion to the buyout firms TPG Capital and Leonard Green & Partners, people with direct knowledge of the matter told DealBook on Monday.
Under the terms of the proposed deal, TPG — a former owner of the retailer — and Leonard Green would work with the company’s chairman and chief executive, Millard S. Drexler, these people said. The buyout firms are expected to pay about $43.75 a share, a 16 percent premium to Monday’s closing price of $36.75.
The deal is expected to be announced Tuesday, these people said, cautioning that the talks are ongoing and may still collapse. They requested anonymity because they were not authorized to speak publicly about the talks. The company is also scheduled to announce earnings on Tuesday.
J. Crew, Mr. Drexler and the buyout firms had been in talks for several weeks, and had neared an agreement on Sunday at about $45 a share, these people said. However, TPG sought to lower the price it was willing to pay on Monday, driving a wedge between it and the company and its prospective partner, Mr. Drexler. The two sides have since reached an agreement.
I said this number was a double booty implant bottom at 33!
It was. And shareholders--this deal will NOT get done at the low ball price of $43.75 but at least $4-5 higher.
I don't give a rat's ass about TPG Capital. You boys that live on stealing shareholder money will have to pay up!
Don't worry. The stupid banks will finance a higher offer!
The "Obama" stock has been J. Crew Group, which now sports a double bottom.
Which means no matter how much stimulus that needs to be pumped into this economy to get the Democrats off their back---will be done--starting with the passage of extended unemployment benefits.
Even if you need booty implants to get the job done!
Dateline:November 4th, 2010—Election two days ago and stock market has mini-celebrationas it moved to a recovery high led by commodities and technology stocks. T-Noteyields plunge.
Dateline:November 9th, 2010—Gold/most commodities make new high in the wake of Bernanke’s focus on QE2 and herd dismay.
Dateline:November 11th, 2010—Cisco announces earnings and give somber assessment of Technology demand.
Dateline:Today—Mini rally last week excites herd and media. McClellan Oscillator reached first stage of oversold, but was by itself as other oscillators are still in neutral correction.
Hays Advisory Psychology Composite remains in P4 status that hasproduced at least a short-term ―pause‖ in last few years when it reached this level.
(So check out the Time magazine covers in October and November of 1994)
Dateline:November 14th, 1994—Election four days ago (mid-term when Clinton lost 50+ seatsin House) and stock market has mini-celebration as it moved to recovery high.
Dateline:November 21st, 1994—Three days before Thanksgiving, stock market experiences sharp 3-day correction that produces oversold market.
Dateline:December 9th, 1994—Two weeks later, stock market makes final post-election low and starts 7-month strong rally that has virtually no 2nd chance for investors to get in.
But that is not what pays when you are an investor. It pays to be long-term bullish and to bebiased on the positive side, and it pays to NEVER let herd sentiment determine your investmentstrategy. I have a very small group of market strategists (and politicians) that I trust and admire fortheir long-term strategy over many years. I’m not a huge fan of Warren Buffett, but you have toadmire his ability to make money. He is currently saying some very good things about whatbargains are being offered to stock investors, and how the Fed’s policy is going to be good forfuture economic growth.
That is exactly what our Asset Allocation forces us to do. From our observation and study of history, the only time in 100 years this methodology would have failed to ―see‖ a major bear or bullmarket approaching was in the deception of 2008’s massive camouflage of leverage and fraud.We believe that camouflage has been removed and that a major international economic and bullmarket is in the making. We are all focusing on the current U.S. economy, but I thought it was veryinteresting to see the IMF’s estimate of expected international economic activity for these next six years.
Hell, it's always the same old story. But you may have some bulls, pointing where the market is going!
Higher---and up BIG!!
(Heh-it was Sunday--that's a gold sweater for the Packers along with a Green Bay watch! That game against Minnesota was easy bookie money!!)
WASHINGTON — The companies with multimillion-dollar contracts to supply American airports with body-scanning machines more than doubled their spending on lobbying in the past five years and hired several high-profile former government officials to advance their causes in Washington, government records show.
L-3 Communications, which has sold $39.7 million worth of the machines to the federal government, spent $4.3 million trying to influence Congress and federal agencies during the first nine months of this year, up from $2.1 million in 2005, lobbying data compiled by the Center for Responsive Politics show. Its lobbyists include Linda Daschle, a former Federal Aviation Administration official.
Rapiscan Systems, meanwhile, has spent $271,500 on lobbying so far this year, compared with $80,000 five years earlier. It has faced criticism for hiring Michael Chertoff, the former Homeland Security secretary, last year. Chertoff has been a prominent proponent of using scanners to foil terrorism. The government has spent $41.2 million with Rapiscan.
I do know, having been both a Southeastern Conference president and a Big Ten president, that it's like murderer's row every week for these schools. We do not play the Little Sisters of the Poor. We play very fine schools on any given day.
