New York Stock Exchange
The U.S. economy continues to worsen on weakening numbers. Once again oil has gone up, the dollar gone down, the DOW plummeted, the markets are volatile and more jobs have been lost:
U.S. Loses 62,000 Jobs, Jobless Rate Holds at 5.5% (Update2)
July 3 (Bloomberg) — U.S. employers cut jobs in June for a sixth consecutive month as soaring fuel prices and a slowing economy forced companies to reduce costs.
Payrolls fell by 62,000, close to economists’ median forecast, after a 62,000 drop in May that was greater than initially reported, the Labor Department said today in Washington. The jobless rate remained at 5.5 percent after jumping in May by the most in two decades.
Oil hits new record above $145
Oil soars to record near $146 amid concerns over hefty drop in US stockpiles, Iran conflict
Oil prices briefly soared to a record near $146 a barrel Thursday, then eased when the European Central Bank did not signal more rate hikes and a report showed unemployment in the United States has continued to climb.
In the February 2008 Sound Off Column I wrote that the current financial crisis that’s hit America has passed a recession, heading towards “a depression.”
Yesterday, the Independent newspaper in the Britain cited financial stats to support their article “USA 2008: The Great Depression.”
Clearly, I’m not the only one that sees it as such. Now, if someone could just translate that to the president, maybe the problem could actually get solved.
In my September 27. 2007 Judiciary Report article “How George Bush Destroyed The U.S. Economy” I wrote, “You left the banking industry unregulated at the worst possible time in history.”
Two weeks ago, Congress announced plans for regulating the banking/mortgage industry. A week ago the Fed announced plans as well for regulating the banking/mortgage industry.
It’s amazing that it’s taken such a long period of time to address regulating the banking/mortgage industry, that behaves like a spoilt child with no rules.
People are suffering in America in a major way and based on mainstream media reports today, you guys in Congress couldn’t even put your bickering aside in the face of that, to come together and forge an agreement, finalizing measures that would help the public who pays your salaries.
The lack of empathy may be due to the fact that you get paid $100,000 in Congress, so you aren’t feeling the suffering the average American is with the financial woes that have beset the country. If you did feel said woes, you’d move a lot faster in addressing said financial problems.
Not that I think said ideas being bantered about in Congress will work, as some of them, in my humble opinion, will expose the nation to additional financial risks.
The worst part of this entire episode is none of it had to happen. I think that has to be the most lamentable aspect of it all.
Had the government put in place proper legislation these banks would not have had the room to do what they did. They behaved like tyrants, unanswerable to anyone, and thus, empowered to gouge the people, and that they did with the attitude of, you as the consumer can’t do a thing about it.
It is Enron all over again as well. Clearly the government learned nothing from that fiasco helmed by Bush’s friends (there are photos and credible documents in the public domain to supports this).
Reports are coming out once again, ala Enron, that accounting firms have been covering for banks, issuing reports that showed a profit, to boost stock, when there were losses adding up, due said banks’ mistreatment of the consumer, in placing increasingly unreachable financial obligations on customers, far different from their original loans. Then there was the fraud and swindling on the part of financial institutions as well.
Two weeks ago, Bush said “we caught the problem early” and they are doing something about it. If you say so. You didn’t catch anything early.
Even on my web sites (that the government has been reading for a few years according to site statistics) I began sounding the alarm a year and a half ago that the American economy was headed for terrible trouble.
A year ago Warren Buffet began issuing warnings. So, this is not something that crept up on the nation out of nowhere. I keep writing this, because I don’t understand why the government sat back and let it happen.
Something bad was forming financially, things were getting progressively worse, but the Bush administration in its standard arrogance, knowing nothing about finance, brushed it off as negativism and lack of patriotism and Congress failed to do anything in a timely manner as well.
Say what you will, but at the end of the day, if you can’t comprehend and have compassion for real time human suffering, especially to the point that you don’t act quickly to stop the suffering, you don’t belong in office.
USA 2008: The Great Depression
Tuesday, 1 April 2008
Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive – a sure sign the world’s richest country faces economic crisis
Disadvantaged Americans queue for aid in New York
We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families.
But above all it is the pressures being exerted on ordinary Americans by an economy that is suddenly beset by troubles. Housing foreclosures, accelerating jobs losses and fast-rising prices all add to the squeeze.
Emblematic of the downturn until now has been the parades of houses seized in foreclosure all across the country, and myriad families separated from their homes. But now the crisis is starting to hit the country in its gut. Getting food on the table is a challenge many Americans are finding harder to meet.
The US Department of Agriculture says the cost of feeding a low-income family of four has risen 6 per cent in 12 months…
And the next monthly job numbers, to be released this Friday, are likely to show 50,000 more jobs were lost nationwide in March, and the unemployment rate is up to perhaps 5 per cent.
Story found here
Proof positive that Hillary Clinton doesn’t know what she’s talking about, spouting off any old hypocritical thing she thinks the public wants to hear in her bid for the nomination, came in the form of a quote where she slammed her only child’s profession.
Bill: Hey, there’s Monica! I see you girl!
Hillary: I’ll call you later Huma
Chelsea: these two are so messed up. It’s a wonder I’m not in therapy 24/7
It’s quite ungrateful of Hillary considering her daughter Chelsea has been spotted wining and dining super-delegates and in another incident, passing out donuts to workers at a polling station.
This caused criticism in the mainstream press, as family members of candidates aren’t supposed to be inside polling stations during Primary voting hours. Facing press criticism, it was claimed by the Clinton camp that Chelsea dashed out right before the polling station opened.
Chelsea: mommy made me do it!
“Real ‘Work’? Clinton Swipes at Chelsea’s Profession”
February 19, 2008 4:48 PM – ABC News’ Jennifer Parker and Eloise Harper Report: Sen. Hillary Clinton took a swipe at her daughter’s profession today at an economic roundtable discussion at a restaurant in Parma, Ohio, suggesting wealthy investment bankers and hedge fund managers on Wall Street aren’t doing real ‘work.’
The former first lady’s daughter, Chelsea Clinton, works for New York-based hedge fund Avenue Capital Group. She previously worked in New York for McKinsey & Company, her first job after graduating with her master’s degree from Oxford University. http://blogs.abcnews.com
…Warner Music Stock Drops From $18 to Just Under $5 Per Share
January 8. 2008
This is a follow up to my February 2007 Sound Off Column item a year ago where I wrote Warner Bros’ stock price would drop to $5 per share. Well, it’s happened, they’ve dropped from $18 per share where they stood a year ago, to this unprecedented low, trading at just under $5 per share, also known as cinco dineros. Thank you for boycotting them. Please keep it going.
On Monday January 7, 2007, Warner Music’s Stock Closed at $4.94 Per Share
Item I wrote a year ago in the February 2007 Sound Off Column during the time the boycott I requested had been going for over 6 months:
“Warner Music, home to Madonna, experienced a 74% drop in sales and a $5 stock price drop to $18.00+ dollars a share. Don’t worry. Give them time. The stock will actually drop to $5 per share.” – February 2007 Sound Off Column
NOTE: Please remember to boycott Madonna’s soon to be released CD on Warner Music, as it has more infringements on it stolen from my Copyrighted Catalog, based on preliminary music excerpts and full lyrics sheets that were leaked. Let’s put her out of business for all the cruel, vile acts she committed in this case and so many others. Thank you.
Edgar Bronfman jr.
Regarding her label Warner Music and its CEO, Edgar Bronfman jr, it’s amazing, all they had to do was not steal my copyrighted work and none of this would have happened.
To date since the boycott began, they’ve lost approximately $4 billion dollars and counting via their stock going from $27 per share to $5 per share in roughly a year and a half. No other label can claim that horrible record, pardon the pun.
Look how many songwriters and video directors there are in the industry, that they could have paid to author copyrighted works for them, but they opted to play the role of the bully and thief, and rob, harass, threaten and abuse me, who didn’t do anything to them at any point and wasn’t bothering anyone. You deserve what happened, as it was unmitigated arrogance.
SITE STAT FOR ONE OF MANY WARNER MUSIC VISITS TO THIS SITE:
Not to mention, you greatly helped to set the ugly tone for the horrible human rights abuse case this has become. You gave that witch the arrogance to think she could criminally spread years old preexisting copyrights of mine all over the place like a common, thieving hoodlum, because you bankrolled it…and you keep bankrolling it, even after getting sued, setting this disgraceful precedent.
Story found here
Warner Music Group Stock Free Fall Continues
November 28. 2007
Warner hit an all time low on Tuesday of $6.77 per share
My least favorite record label in the world due to this case continues its freefall into financial ruin, as a result of the boycott I requested of their company a year and a half ago, that the public was gracious enough to make happen.
There’s no other explanation for their astounding freefall, as they have a stable of artists, among them are:
Linkin Park, The White Stripes, Faith Hill, Seal, Michael Buble, Cher, Brian Mcknight, Dangerous Muse, Paris Hilton, Alanis Morissette, Ashley Tisdale, Avenged Sevenfold, Michelle Branch, Daniel Powter, Craig David and of course, chief copyright infringer A/K/A
Satan and that thing from Lord Of The Rings all rolled into one, but he is younger than she is Madonna. Their all around sales, even for new artists at Warner, have been low. Well, they have Grinch to thank:
Pic courtesy of Hollyscoop and Pretty On The Outside
Story found here
After Killing Warner Music Stock Madonna Is Devaluing Live Nation’s
November 20. 2007
I’ve been watching this deal for a reason, as the numbers didn’t add up in them offering her that amount under the circumstances, and I heard from a very reliable source that she allegedly used something else to help close out the deal – intellectual property she does not own – that she has been pilfering in violation of domestic and international law (and as sure as that witch can’t sing, that international lawsuit is coming over those infringements).
Therefore, in light of my legal issues with her infringing my Copyrighted Catalog, it is of interest to me.
However, the deal’s already turning sour and she hasn’t even
sung lip-synced the first note. Since the announcement one month ago of her signing to Live Nation their stock has fallen 30%, which is not good news for any company.
First they said the deal was for $125 million, now they are saying it’s for $100 million (which is still overvalued) and are refusing to release the specifics, due to a confidentiality agreement. If everything was above board they would release the details, especially to the shareholders and potential investors in the public, so clearly something isn’t right.
Defending Madonna’s $100 Million Deal
November 18 2007: 1:05 PM EST – Live Nation responds to critics who say the giant concert promoter paid way too much for the material girl, reports Fortune’s Paul Sloan. Live Nation execs say investors haven’t grasped what their $100 million deal with Madonna (above) is really about.
Ever since Live Nation, the giant concert promoter, announced a sweeping 10-year deal with Madonna to handle her albums, tours and merchandize, investors have worried that the company spent too much to lure the superstar away from Warner Music Group (Charts). The stock has fallen roughly 30 percent since the news came out last month.
On Thursday, CEO Michael Rapino and his top executives defended the deal before investors and analysts gathered at the Fillmore New York at Irving Plaza, one of Live Nation’s venues.
Judging from the immediate reaction — the stock closed down slightly Friday — the Street isn’t yet convinced.
The execs didn’t offer up exact figures of the deal — citing a confidentiality agreement with the material girl — but people familiar with it estimate its value at roughly $100 million for Madonna. http://money.cnn.com
Story found here
Analysts Ask Are Madonna’s Muscles Worth The Money
November 15. 2007
Photo courtesy of the Daily Mail
After Warner Bros beat the steroids out of Madonna with a sarcastic, facetious, jab laden financial report detailing why they would not be resigning her to the plummeting label, others have been taking a closer look at her dubious Live Nation deal, as the numbers just don’t make sense.
Morgan Joseph & Co. analyst David Kestenbaum wondered the same thing I did last month, as to how they are going to make money off a smoke and mirrors, hype driven artist that doesn’t have…what’s the word I’m looking for…ah, yes, talent.
Considering she’s not aging well, like say the stunning Christie Brinkley who is in her 50’s and looks fabulous, and Madonna’s only talent, if you can call it that, is stripping, did Live Nation just flush many millions down the loo. It appears so.
This type of deal would have made sense for a Britney Spears seven years ago. Not a Madonna now.
Madonna Arnold Schwarzenegger’s stand in from Conan The Barbarian is unable to deliver the type of financial returns Live Nation is expecting, due to not doing their homework, the shareholders will be left holding the hag bag.
Ahead of the Bell: Live Nation, Madonna
Nov. 15, 2007, 6:38AM – NEW YORK — Live Nation Inc. on Thursday is expected to provide commentary on a high-profile partnership with Madonna, though one analyst warned that the Material Girl’s popularity may fade with time.
In October, Live Nation and Madonna revealed plans to share future music and music-related revenue from the Madonna brand, albums, touring, merchandising, among other sources. The deal reportedly cost the company about $120 million, and Madonna will receive an $18 million signing bonus and partial stock compensation.
Morgan Joseph & Co. analyst David Kestenbaum said many on Wall Street have been in the dark regarding financial details of the deal, but expects Live Nation to provide an update Thursday.
Kestenbaum said the deal bodes well for Live Nation’s chance to accumulate more artists, but still questioned the longevity of Madonna’s notoriety as a pop star now that she’s nearing 50.
“We still have questions regarding returns on Madonna, specifically on her popularity longevity and Live Nation’s related advance payment schedule for her talent,” Kestenbaum wrote in a client note.
Kestenbaum said if Madonna is unable to live up to her persona, her CD sales and touring tickets may be affected.
“While we do not discredit the artist’s high-profile name, we are slightly cautious of her reliance on high-action, performance-oriented concerts versus an act that is more musically relevant regardless of age,” Kestenbaum wrote. – Houston Chronicle http://www.chron.com/disp/story.mpl/ap/fn/5303833.html
Story found here