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Category: finance

11/20/08 01:02 - 33ºF - ID#46772

Auto Rescue Plan Reached

So they did slip a "bailout" for the U.S. Car makers into an energy Bill

To me this is just going to delay the day of reckoning. What they are going to give them still won't make them whole. If you consider their outstanding debt and Pension liabilities this may make the company only say - 35 Billion in the hole instead of -60 Billion. Consider the Market Cap of GM and Ford was 6.14 Billion on 11/17/2008. In the end this is just good money after bad. They are not going to help change the wage structure that puts them at a disadvantage to Honda and Toyota or change people's buying habits. In the end the only way the will keep the current GM Structure of workers making $75 an hour if you include their benefits is to nationalize the companies.
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Permalink: Auto_Rescue_Plan_Reached.html
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Location: Youngstown, NY

Category: finance

11/20/08 11:51 - 32ºF - ID#46769

Must Hold

The market has been testing the 10 year low of the Dow Jones level 7883 made during the Asian Financial Crisis of 1998. If it breaks through and closes below that number, you better me on the 2033 Stock Market Plan or aka not thinking of getting ahead until the year 2033. So in simpler terms it will be Game Over.

It's not like I think that it will hold and then we will be off to "happy days again," but for the most part it will just delay the inevitable. Just like the Big 3 American Automakers. From what I can see the economy is going to tank into oblivion come February. We will have the numbers from the Holiday Season and it will just reflect that people just bought gifts for lineal family members only. We will have more abandoned shopping plazas (But in Western New York Benderson will still be building more even though there will be guys hired through Addeco or Apple One smoking and carrying a florescent "GOING OUT OF BUSINESS 40% OFF EVERYTHING" Sandwich Signs outside on the sidewalk of the current plaza that the built 2 years before and is only 30% occupied) ;-) Since we are a country that is fuel by expansive credit and consumption it will get nasty.

But who knows? When the big box/strip mall retailer's business plan blows up, that may create a return to Main St where people just go and start dealing locally with a "Mom & Pop" type of store once again.

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Permalink: Must_Hold.html
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Location: Youngstown, NY

Category: television

11/18/08 11:46 - 27ºF - ID#46748

Paris Hiltons New BBF

Funny how that now MTV totally killed off music they suck me in the a reality show. That old 60 something year old guy that runs the network really knows how to push my buttons.

I have to admit she's one of my guilty pleasures. It could be that seeing her on that couch kind of reminds me of one of my favorite movies Cruel Intentions but I know it's by design. In the end she isn't as stupid as most people think or at least that's what I believe.

SO Yea, that's my latest guilty pleasure in TV Viewing.

Although I did redeem my brain in regards to the MTV Networks by catching this song for the first time on MTV2. All I can say is that I have totally felt that and been there. It's kind of a mix between the Afghan Whigs and Bahaus. I'm glad that the artist or record company actually is allowing embedding.

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Permalink: Paris_Hiltons_New_BBF.html
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Location: Youngstown, NY

Category: documentary

11/17/08 10:38 - 27ºF - ID#46726


Yea, I can't stand to watch the Bills lose. So I was flipping the channels and came across a documentary called Carney.

I was totally surprised that it had such strong local ties. Yea, it's produced by TVO TV Ontario [Canadian Public Television], but a good majority of the people featured in the film were from Western New York. The best part was the 25 minutes where the featured Canal Fest and a carnival worker from North Tonawanda. All I can say is the former bar 7 Wonders actually has quite a bit of time in the doc.

Seeing a "Cut Down Clown" as a human being is kind of different. Even though I don't have an issue with clowns, the guys that run serious smack behind the bars of their dunk tank really do freak me the F out.

Check it out if you ever get a chance to see it. Personally I loved the Tom Waits/Butthole Surfers type of soundtrack as well. All I can say is it's pretty cool stuff.

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Permalink: carny.html
Words: 176
Location: Youngstown, NY

Category: vegas

11/06/08 02:01 - 68ºF - ID#46574

Frank must be turning over in his grave

The economic downturn is taking down more than just previously unshaken investment houses on Wall St. It's taking down Frank Sinatra's old casino The Sands. When the auditors have doubt for you to "continue as a going concern," You're in for some trouble.

I guess I could feel the vibe when I was out there in August. The place is in for some trouble. How are they going to fill all of the rooms that have tripled the capacity of rooms over the last 10 years with less flights being booked? It's just too insane now these days. If I do go back I'm going to check in at a dump on Freemont St or hang in a "local" casino where you have a shot at making your bankroll last the whole trip. The days of people going to Vegas, spending $500 on a room, Droppinig $5000 at a nightclub for bottle service, and $100 bills on other "stuff" are at an end. The credit card is Maxed out & the bank won't let you get any more money from your HELOC since you're underwater on your mortgage

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Permalink: Frank_must_be_turning_over_in_his_grave.html
Words: 192
Location: Youngstown, NY

Category: random

11/06/08 09:52 - 52ºF - ID#46570

strange phone day

Yesterday I was just kicking back on my lunch break in my car just taking a short nap when I received a phone call. " 'MY RL 1st Name' This is Grandpa!" My response, "Umm, Ahhh, I don't have a Grandpa" His Response, "Sorry I must have the wrong number."

Seriously, I have heard of EVP and other weird electronic communication devices, but I haven't had a grandpa since 1987. That's the year both of them died. Second one of them didn't even speak English, he only knew Polish. Plus the guy didn't sound anything like my "American" grandpa, from what I could remember. Anyway logically I knew it was most likely an honest mistake, but on another level it kind of weirded me out.

Then as I was leaving work, I received a text message wishing me a very happy belated birthday from the two women I had brief relationship with a few years back! It just caught me as something a bit out of left field. Seriously did Obama's election cause a tear in the time space continuum to have strange communications sent to me yesterday?
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Permalink: strange_phone_day.html
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Location: Youngstown, NY

Category: politics

11/04/08 11:54 - 52ºF - ID#46537

It's all over

As I kid I watched the Berlin Wall come down and the Eastern European countries shake off the Soviets and become free. There were always shots of crazy crowds in the streets. Yea, Obama winning may not be no par with ending 45 years of communist rule by the shear will of the people, but at least I can get a 1/4 idea of what it would be like to see people go nuts in the streets. I guess it was kind of a "nonviolent revolution" after all.

Some on the right calling the the end of life as they know it. That's a totally self defeating mentality. You can make money in any kind in any kind of economy or situation outside of some kind alternate universe economy as North Korea. Just take for example Warren Buffet buying the Washington Post in the mid 70's knowing that he would get a great ROI with Jimmy Carter expanding government and thus the D.C. economy. Heck him and George Soros one of my heros for being a wicked trader backed Obama. Do you think he wants to donate all of his wealth? These guys know ways to profit from what may be in store as policy changes. The challenge is to try to figure out what they are doing and follow suit.

This may be the turning point for the American worker as they come back from being Squeezed to actually getting some union respesentation once again for better benefits, wages and working conditions. It sure won't happen next year or anytime soon, but the pendulum may start to swing in the opposite direction.

None the less these should be interesting times.
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Permalink: It_s_all_over.html
Words: 287
Location: Youngstown, NY

Category: politics

11/04/08 09:32 - 57ºF - ID#46508

How I voted for Prez

I had to find an alternative, since I think that this 2 party system absolutely sucks. So I voted for Ralph Nader. It took me a minute to find him since he was beyond the bottom of the rows. It's pretty sad when his "Populist" party was below the Socialist Workers Party.

Libertarians from my personal experience are kind of are nuts. We need government for a great number of things. Plus I can't get behind Bob Barr or Wayne "500 * COLLEGE CONFERENCE GAME OF THE YEAR" Allyn Root. Seriously why did he drop the Allyn on the ballot? Did he not think that people would connect that he he the same guy on Saturday morning selling his sports betting picks?

The Green's, well (e:drew) kind of enlightened me on her, Cynthia McKinney at the party on Friday. Thanks Drew.

So Yea, with all the non literal "communist parties" available to cast a ballot from above, out side of the two corporate bought and paid for parties that is who I voted for in the end. Someone who did not support the Wall St Bailout, since Both Obama & McCain voted for it.

Plus New York State is going for Obama anyway, it's a "Winner Take All" System meaning that any ballot cast for a loser is an absolute waste. So why not make a real statement and vote for a third party. That way if they get enough votes, they won't have to push petitions in the future just to get on the ballot.
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Permalink: How_I_voted_for_Prez.html
Words: 254
Location: Youngstown, NY

Category: superstition

11/02/08 04:32 - 50ºF - ID#46475

Football & Politics

Well the Bills lost, big deal they have never been the indicator of anything except the mood of people's mood going into work on Monday around here.

The real game is going to be played on Monday Night when The Steeler's play the Redskins @ Fedex field. Supposedly if the Redskins win their last home game before the presidential election the incumbent party stays in office. If they lose then the challenging party takes the White House.

So if you're for Obama, you're pulling for Pittsburgh. If you're pulling for McCain, you want Washington to win. Yea, it's not perfect but 94% is more accurate than any California Psychic. I was listening to a betting show this morning on the Fan 590 out of Toronto and the Sports Book Director @ Caesar's Palace on the strip said that it does have a slight effect on the betting lines.

ALSO Both candidates will be appearing for quick interviews during Halftime in a kind of almost 11th hour closing the deal type of way...
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Permalink: Football_amp_Politics.html
Words: 176
Location: Youngstown, NY

Category: recreation

10/30/08 01:44 - 44ºF - ID#46427

lazy cold call

I have a day off today & it' the first one since before labor day that I have actually had the time to relax and unwind. So what do I get this morning? A cold call from some broker trying to sell me an idea for a trade! Seriously you make one great trade and then these guys find you and try to get you to put some of recent earning at risk. Thanks, but I'm just going to hunker down for the time being. It's kind of nice that the market has had just 2 days recently that were not moves of 100 points or more in absolute number terms, but I'm not up for trading. It has taken me quite some time to get myself to the point where I am now, I actually want to enjoy it now without the stress of trading.

In a way it's kind of like how I was back in the day when I was trading off of an inheritance my great aunt left me 10 years ago. I would just sleep until noon if I didn't have a good feeling about any direction for anything I just slept until noon. Maybe I'd go out to Damon's on Sheridan Dr & meet my buddy that worked for Amex at the time for lunch, but that would be about it.

So I'm just siting out and coming up with my next idea. So please don't call me.

in the mean time does anyone know a good IRC chat for mac? There's this S&P trader that has a chat room on his site & I figure that on my day off I could stop by and look at his trades.
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Permalink: lazy_cold_call.html
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Location: Youngstown, NY



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