Monthly Archives: November 2008

Dow Jones Stock Market in Free Fall to 7997

 The Financial Crisis has Wiped Out $6.7 TRILLION already since the S&P 500 High of Oct 2007. The Feeling is Much More is yet to come especially after Wednesdays announcement of NO BAILOUT for GM & Ford.

The Selling was so Intense on the NYSE that there were 2943 DECLINERS while only 158 companies traded positively. At the Closing Bell the Damage was DJIA Down 427 points to Free Fall Below the 8000 Barrier Finishing at 7997.28 on the Day.

Banks and Financials are still struggling. CITIGROUP is Laying Off more than 52,000 and the stock [C] has fallen sharply to a formerly unthinkable $6.48 a share. No Companys share price is Safe in this Financial Holocaust. How the Mighty Have Fallen.

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Kangaroos Genetically Similar to Humans

Australian Researchers on Tuesday reported that Australias Kangaroos are Genetically Similar to  Humans. Scientists have for the first time Mapped the Genetic Code of the Kangaroo and found much of it was similar to the Human Genome. There are some obvious differences but we share the same genes and a lot of them are in the same order. Todays Kangaroos are informative about what Humans were like 150 million years ago.

I can See the Similarity with Killer Willard and Bush Cheney 🙂

The Researchers found Humans and Kangaroos last shared an ancestor 150 million years ago. More surprisingly the finding showed Mice and Humans diverged from one another only 70 million years ago. We are All Connected. Everything is Connected.

Its arguable who’s Better on Two Feet , but at 35 MPH Kangaroos are Much Faster than Humans.

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First Time Ever in NFL Football history

Interesting Week 11 in NFL Professional Football. First Time EVER there was a 11-10 Final Score [Steelers over Chargers].

First Time in Six Years there was a TIE SCORE FINAL 13-13 [Philly at Cincy]. And yes Donovan McNabb didn’t know the game could end in a tie – moron. 

Ten Games were decided by ONE SCORE or less , including Tony Romo’s Return Victory [Dallas over Washington]

How about the Unbeaten Titans at a perfect 10-0 It’s All Good if you’re a Tennessee Fan.

And lastly the Epic JETS – PATS tilt 34 – 31 OverTime , First Place in the Division On-The-Line

Refs Mistake in Steelers game Costs Bettors BigTime. Winners turned into Losers and losers ended up winning when a game that should have ended up 17-10 instead went into the record books as the first 11-10 final in NFL history. Though the score made no difference in the Win and Loss column – it did in the Wallets of a lot of Bettors in Las Vegas and Nevada Sportsbooks.

A Mistake by the Officials on the final play of the game between the 4 Point Favorite Steelers and Chargers meant Bettors who thought they had won money on the game actually lost – while those who thought they had lost ended up Winning. The apparent Touchdown scored by Polamalu on the last play of the game made the difference between Pittsburgh covering the point spread or not. When the touchdown was incorrectly Overruled , Steelers Bettors who thought they had won on a fluke on the last play were left holding worthless tickets.

The official score remains 11-10 , and Nevada Sports Books paid off on the final score from Sunday. There might have been $10 Million Bet Legally on the game in the State of Nevada but many times more than that in illegal bets around the country – plus the offshore Internet betting action.

 

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SEC should Investigate Las Vegas Sands not Mark Cuban

The SEC has charged Mark Cuban – the Billionaire Entrepreneur &  Owner of the Dallas Mavericks , Landmark Theaters & HDNet with Insider Trading by using confidential information on a stock sale of Mamma.com to avoid more than $750,000 in losses.

Mark Cuban responded ” The governments claims are false and they will be proven to be so.”

For all Aspiring Entrepreneurs here’s what Mr. Cuban looks for in a potential business investment – and PS: Best of Success in Everything Mark , Sir.

Meanwhile Friday , to Avoid BANKRUPTCY by not meeting obligations to its lenders on a $3.8 billion portion of its $8.8 BILLION debt – WITHOUT SHAREHOLDER APPROVAL – Las Vegas Sands Corp [LVS] NYSE –  said it sold 200 million common shares for $5.50 apiece for $1.1 billion – DILUTING the Common Stock Shareholders Holdings.

The company also sold 5.2 million units consisting of one share of preferred stock plus a warrant to buy stock at $6 a share. The units sold for $100 each.

Founder and Chief Executive Sheldon Adelson and his wife also purchased roughly 5.25 million shares of preferred stock and warrants at the same terms as the public offering. The warrants included in the public offering and sale to the Adelsons could raise an additional $1.04 billion.

GREAT for the Adelson’s – TERRIBLE for POOR JOE – the COMMON STOCK Shareholder of LVS. the financial viability of the company has been seriously jeopardized – it more than doubles the number of outstanding shares and significantly dilutes shareholder value.

If you’re a common stock shareholder of LVS you’re Nuts to not SELL and get out. You DO NOT MATTER at ALL , at ALL , At ALL.

Las Vegas Sands is also looking to address some in-house concerns , disclosing in an SEC filing last week that its board created a committee to evaluate the company’s decision making and resolve disputes between Adelson and other senior managers. The filing said the committee was formed to address “a loss of confidence” by managers in how the company is being run.

Singapore is looking for ways to avoid ending up with a mammoth unfinished project on a prominent piece of land if US casino operator Las Vegas Sands Corp. is unable to complete a $4.9 billion gaming venture. The developer and operator will delay the completion at best or could end up unable to fulfill the contract. There are alarm bells all over the place. Singapore government officials are making contingency plans if the financing falls through – They are looking for a plan B , if things turn sour.

LVS will lay off as many as 11,000 construction workers in Macau after a cash crunch forced it to halt construction on multibillion dollar projects in the gambling mecca. The Global Financial Crisis has battered casino operators , and once booming growth in Macau has slowed as visa restrictions on visitors from mainland China hurt business.

Not a Bright Outlook for LVS , the company should go Private – instead of Ripping Off common shareholders. How is taking the Stock[LVS] off the Board  [halt trading] for 3.5 hours with stock at $8 DILUTION of the Stock , and begin trading again at $5 – How is that not INSIDER TRADING , MR SEC?

Sheldon Adelson Benefitted From INSIDER INFORMATION & INSIDER TRADING. Investigate that SEC.

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G20 Death of the Dollar Standard Birth One Central Bank

With the “Greatest Depressionplaying out on Bush’s watch , the G-2o finance ministers met in Washington and have given themselves until April 30 , 2009 to Overhaul the Worlds Financial System. The next G-20 Summit will probably be held then in London.  The World has , in effect , Elected a new Body to Oversee the International Capitalist Economy.

One meeting did not solve the world’s problems but the leaders of the G-20 countries resolved to “take whatever further actions are necessary” to stabilize the financial system. They pledged to strengthen both the regulation of financial markets and the protection of investors.

It was agreed that the World Bank and the International Monetary Fund [IMF] need to be revitalised and refinanced to meet the challenges of the New World Order.

A new global currency will one day be developed.

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Space Shuttle Endeavour Rockets Toward Intl Space Station

7:55 PM EST from NASA’s Kennedy Space Center Florida under a Bright Full Moon , the Space Shuttle Endeavour Blasted Off , Lighting Up the Night-Time Sky as it Rockets toward its Rendevous with the International Space Station on Sunday Afternoon. 

Endeavour Commander Chris Ferguson , Shuttle Pilot Eric Boe and Five Mission Specialists will be aboard the Intl Space Station to celebrate its 10th anniversary on November 20th.

NASA’s new Water Recovery System will make it possible for six crew members to Live Aboard the International Space Station. Some of the other “Home Improvement” Cargo are a $19 Million toilet , kitchen , two more bedrooms and the first-ever Space Cooler that will allow Astronauts to have Cold Drinks.

Four Maintenance Space Walks are also Planned. The 27th shuttle mission to the space station is due to Land back on Earth November 29th or 30th.

Good Luck , Godspeed and have a Happy Thanksgiving in Orbit.

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Deflation or Inflation You Gotta Eat

October Retail Sales and prices of goods imported to the USA dropped by the most on record pointing to a rising danger of Deflation. Deflation is caused by a collapse in demand and is associated with  Recession and in this case it certainly appears to be a long term economic depression. Money & Products : Supply & Demand. Deflation is the opposite of Inflation meaning a decrease in the general price level.

The decline in sales was led by a huge drop in Car purchases , but sales of all types of department store products from Furniture , Electronics , Clothing, Sporting Goods and more were all hard hit. Ask Chrysler , ask Circuit City they’re all going bankrupt.

Restaurants & Grocery Stores were about the only retail area that showed a gain. You Gotta Eat no matter the Financial Carnage going on. Shoppers searching for discounts on groceries gave sales a lift at Wal-Mart. Wal-Mart may be the only Large Retailer to hold its own this Holiday Season.

 

Oil Prices have Fallen 60% during the last four months after reaching $148 in July. Light Sweet Crude for December delivery fell to $57 a barrel on the New York Mercantile Exchange.

The Dow Closed Friday at 8497. S&P 500 at 873. Nasdaq at 1517. “Cash is King” –  Jim Rogers

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