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October 12, 2006
Cara's Daily Planet, Thurs., Oct. 12, 2006, 6:19 AM
Readers interested in preserving capital through awareness of significant events are invited to link and discuss articles from mainstream or alternative media in this space.
On the issue of the CDS Bubble I wrote about yesterday, Michael Panzner sent along a chart that ought to alarm traders, if seemingly not legislators and regulators."Which is the Real Bubble?"
The question of backdating corporate records in order to financially benefit officers and directors via stock options is still in the news. The McAfee CEO George Samenuk and the CNet CEO Shelby Bonnie resigned yesterday for their misconduct in causing or permitting accounting records to misrepresent facts. There seems to be general acceptance on Wall Street that if a CEO wilfully encouraged such practices he/she has committed an illegal act, but if they merely permitted them, that would be ok. Based on the responsibility mandate of a CEO, I fail to see the difference. As for the argument that a CEO may not be aware of the backdating of stock options to executive officers and directors, I find that to be 100-pct laughable.
Posted by Posted by Bill Cara on October 12, 2006 06:19:14 AM | Category: The Daily Planet
Discourse
Credit Cards' Hidden Costs
GAO Study Finds Confusing, Sometimes Misleading, Practices
By Kathleen Day
Washington Post Staff Writer
Thursday, October 12, 2006; Page D03
Posted by: oratier ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
October 12, 2006 7:15 AM [link]
Poll: Costs Still Stymie 1st-Home Buyers
http://biz.yahoo.com/ap/061012/housing_ap_poll.html?.v=3
I can only grin as this article makes gold look that much more appealing.
Posted by: cb at
October 12, 2006 7:19 AM [link]
Stocks seen starting higher on profits, oil
By Emily Chasan
Reuters
Thursday, October 12, 2006; 7:05 AM
Posted by: oratier at
October 12, 2006 7:21 AM [link]
INDICATIONS
U.S. steady ahead of data, earnings
PepsiCo on tap; Costco tops forecasts
By Simon Kennedy, MarketWatch
Last Update: 6:36 AM ET Oct 12, 2006
Posted by: oratier at
October 12, 2006 7:26 AM [link]
Stock options scandals could prompt more corporate housecleaning in US
Although this story is neither new nor breaking....just reading the new details makes me feel warmer and fuzzier.
http://www.iht.com/articles/ap/2006/10/12/business/NA_FIN_US_Stock_Options_Executives.php
Home builder Kara files for bankruptcy after $250,000 discounts failed to lure buyers. Any guesses who is next?
"... it owes $296.84 million to lumber, concrete, electrical, plumbing and woodwork companies while holding $350.18 million in assets, primarily unsold houses and land..."
And:
http://www.thejournalnews.com/apps/pbcs.dll/article?AID=/20061010/BUSINESS01/610100316/1066
That's Kara with a "K" !!
Posted by: SiO2 at
October 12, 2006 7:37 AM [link]
http://www.bloomberg.com/apps/news?pid=20601012&sid=a_5X4GTnL2lg&refer=commodities
Gold Climbs in London on Jewelry Demand From India and Turkey
"Jewelers accounted for 73 percent of global gold demand last year, according to the London-based World Gold Council. Demand typically increases in the final quarter of the year, when jewelers stock up for the holidays and the wedding season in India, the world's biggest bullion buyer. The metal has gained every fourth quarter since 2002.
``Refineries are working 24 hours a day, seven days a week to meet demand,'' David Gornall, head of foreign exchange and bullion at Natexis Commodity Markets Ltd. in London, said in a telephone interview today. ``Physical demand is much, much bigger than last year.''
Posted by: g034 at
October 12, 2006 7:56 AM [link]
Interview by Resource Investor with Robert McEwan
http://www.resourceinvestor.com/pebble.asp?relid=24635
Posted by: bobj at
October 12, 2006 9:51 AM [link]
go to Monday's Blog, dated: 9 Oct 06
Monday, October 09, 2006
Tracking the Large Trader
Posted by: duey at
October 12, 2006 2:18 PM [link]
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"U.S. President George W. Bush has authorized a sweeping new national space policy, green-lighting an overarching national policy that governs the conduct of America's space activities."
http://www.space.com/news/061007_bush_spacepolicy.html
The above is not new news or a new trend (SDI "star wars" etc). What is of profit to traders is to put the above "new" news in context: the below video link explains the history and dynamics of where the initiative(s) come from, where they are going, where the money comes in and the beneficiaries. Slightly older but still very relevant MIT lecture video: "The Militarization of Science and Space" (Skip the introductions by jumping to minute 6). As a bonus there is critique of how NAFTA trade agreement effect worker mobility, the Feds definition (and target) for a "healthy " economy and more interesting high level view stuff all rolled into one (long, dry don't fall asleep :) lecture.
http://video.google.com/videoplay?docid=3556931934798596578
Posted by: Keith![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
October 12, 2006 7:08 AM [link]