Wednesday, August 31, 2005

Katrina could hurt GDP growth?

Hmm seems like Action Economics thinks so. This part of the article is especially worrisome:

About a third of the petroleum produced in the U.S. (which meets 45% of U.S. demand), is from the Gulf of Mexico, and 90% of that moves through Louisiana, according to Biz New Orleans, which reports on business and financial information. Also, New Orleans is a major port for importing oil, via offshore facilities for unloading supertankers that send oil to the mainland. The oil travels through underwater pipes via New Orleans.

Lets hope that refinery and deep water port in New Orleans isn't really badly damaged. Or there will be lingering effects of this hurricane that last long after the people have moved back and the houses are rebuilt.

Bush is Tapping the Reserve

Looks like Bush is pulling the trigger on the reserve. I'm not sure about this statement though:

"This will help take some pressure off the gas price," Bush said as gasoline prices soared toward $3 a gallon in many parts of the country, surpassing that level in some places.

He isn't releasing the refinery reserve (if there was such a thing) at all. That means he isn't opening some special government owned refinery or something like that. He is merely replacing the oil that would normally be pumped by those shut down rigs out there in the Gulf of Mexico. This move seems like it wouldn't touch prices at all. This however *may* drive prices down a bit hopefully:

While on the plane, Bush took a call from King Abdullah of Saudi Arabia. "The king offered Saudi Arabia's support," said White House spokesman Scott McClellan. The world's biggest crude oil producer, Saudi Arabia has pledged to boost output by 1.5 million barrels a day -- to 11 million -- to replace shortfalls.

Meanwhile, European nations began considering the release of their own government-controlled stockpiles of gasoline and heating oil to help stabilize markets, said officials at the Paris-based International Energy Agency.

This sounds like a good deal for tanker stocks. That released oil has the get to the US somehow and the tanker fleet is the only way.

Polysilicon Shortage?

Hmm seems like this stuff is pretty hard to come by recently. And it may cut into the bottom line of companies that need silicon materials ie the semiconductor companies. it will be especially hard on companies like Cypress Semiconductor (CY) who make photo cells for solor power. The article says:

Polysilicon contract prices are up to $45 a kilogram from the mid-$30s one year ago, with bidding expected to reach $60 a kilogram next year as shortages become more dire.

Hmm, shortages like this should be good for the bottom lines of companies that make this stuff. There seem to be only 5 companies that make it. The companies are ASiMI, Hemlock, MEMC, Mitsubishi Materials and Wacker. Of these companies MEMC is publically traded. ASiMI seems to have been bought out by Renewable Energy Corp. AS of Norway. Hemlock is a joint venture of Dow Corning , Shin-Etsu Handotai Co. Ltd. and Mitsubishi Materials Corp. Wacker doesn't seem to have an ADRs. They are putting on capacity as fast as possible but it doesn't appear to be fast enough. This is an interesting thing about MEMC as well:

Another silicon wafer maker, MEMC Electronic Materials, Inc. (St. Peters, Mo.), also "produces polysilicon and is 90 percent self sufficient; not all silicon wafer producers are entirely shelf sufficient," Leming of Princeton Tech Research said.

I think he means self sufficient but that will put them a leg up on some companies out there. They seem to use the Polysilicon for their own wafers so they may not be able to sell the excess when prices go up.

Tuesday, August 30, 2005

DC Comics Titles for Aug 31

» BATMAN: GOTHAM KNIGHTS #68
» BATMAN: JEKYLL AND HYDE #5 (OF 6)
» CATWOMAN #46
» DOOM PATROL #15
» ELFQUEST: THE GRAND QUEST VOL. 10
» THE FLASH #225
» GREEN LANTERN #4
» JLA: CLASSIFIED #11
» ROBIN #141
» SEVEN SOLDIERS: SHINING KNIGHT #4 (OF 4)
» SOLO #6
» TEEN TITANS GO! #22
» WONDER WOMAN #220
» THE WORLD'S GREATEST SUPER-HEROES

This looks like another short week to me. I'm only getting Flash #225 this week. I will also be picking up Amazing Spiderman #523 as well.

Camera Phones won't replace Digital Cameras

It looks like digital cameras have nothing to fear from camera phones at all. In fact a camera phone is getting people to buy more digital cameras:

This "myth" is unlikely to occur since resolutions in camera phones have remain somewhat constant, while prices for digital cameras have continued to decline, according to International Data Corp. In the United States, camera phones are becoming more of a "gateway product," which creates more digital camera users.

One reason is because the resolution on camera phones is really pretty crappy. Also it seems like it is easier to get images off of a digital camera then a camera phone. I had lots of trouble finding a USB cable for my phone so I ended up getting a miniSD card and card reader. I will not pay even 1 cent to Verizon to get pictures off of my phone so services like PixPlace are garbage to me. My digital camera came with a USB cable so it is a snap to get pictures off of the phone.

Katrina Hits Retailers

It seems that some retailers are really smarting from Katrinas wrath going ahead. It looks like it is pretty temporary and none of the stores seem to be closed due to heavy damage.

I am more worried about people spending less because of the high gas prices due to the refinery and oil rig closures. That would really torpedo the retailers if Americans stopped buying discretionary goods. We are already seeing that $70 oil that people have been fearing.

Ford Laying off 400 white collar workers

Looks like Ford is going to the axe to reduce their fixed costs. They may even cut more if they can't keep their expenses in line. I have a feeling that some of these people will find a nice home at Fords competitors. This is certainly good news for the auto company as well:

Furthermore, CEO Bill Ford told reporters in Detroit that a comprehensive restructuring plan would be unveiled some time before October aimed at bolstering Ford's ailing North American auto business.

I think they really need some restructuring because they are ailing badly in this market when compared to their Japanese and even American competitors.

Monday, August 29, 2005

Cracks appear in the TomKat Wedding plans?

Looks like TommyBoy is a real controlling sort. This is some real cultish behavior if it is true. (It is Star Magazine after all.)

Tom seemingly insists that Katie restrict herself to his inner circle, most of whom are Scientologists. "Tom wants Katie to spend most of her free time by his side" says the source.

Yup, so they can keep her in the bubble of insanity. That way they can indoctrinate her into the inner workings of the religion. They want her to become a true believer. It would be interesting to hear what went into this Catholicism slam as well:

"Martin questioned Tom on his beliefs about psychiatry," says another source. "Tom apparently got excited while explaining Scientology and questioning Catholicism, even pointing out the failure of psychiatry. Naturally, this would upset the Holmeses."

Maybe Catholics, who like Matt Laurer, are just too glib for Tommy Boy. After all Tommy knows knows the *real* history of Catholicism and you don't.

More on the Taylor-Compton Story

Hmm it looks like she was staying in a park for 2 weeks prior to when she was found. The boy that she was staying with was actually a family that took her in that was concerned for her welfare.

"One of the teachers at Granite Hills High School contacted Officer (Cesar) Molina and told him that a boy was bragging in class that a girl movie star was living in his house," Apple Valley School Police dispatcher Vickie Crawford said.

So she was gone for 2 weeks and it seemed that if that kid didn't brag she would have been gone for much longer. I think her parents need to be investigated to see what the extent of these "family problems" are:

Taylor-Compton, who had no belongings with her other than a purse, told police she had run away from home because of family problems and had been mostly sleeping on playground equipment in a local park, Crawford said.

So she ran for it with the clothes on her back and her purse. It sounds like something an abused spouse would do.

Carl Edwards comes in 24th at Bristol

At least he moved into the 8th spot in the Chase. It kind of sucked though that he hit Kyle Petty near the end of the race and dropped down from a top 20. I think he was 14th or so before he hit Petty. It looked to me like Petty checked up on him and Carl just couldn't get out of his way with that damaged shock. I didn't even know about that damaged shock though because TNTs coverage was such a joke.

Fox's coverage is head and shoulders better then TNT/NBCs half-assed coverage. It seems like the Fox analysts make the races more exciting while the TNT guys just drone on and on in a very boring manner. Maybe it is high energy commentary by Darrell Waltrip but the play by play guy, Mike Joy is a great announcer and seems very knowledgeable about the sport. It says that he is a 30 year motorsports veteran so I guess he does know his stuff.

That aside all Carl needs to do is drive decently at the next two races and he is in the Chase. He probably won't win it because he isn't as experienced as the other drivers but let's hope he does well. Here is a link to an unofficial fan site of his.

Amanda Meyer fights for Grissom Suit

She seems like quite a busy high schooler and has a future in politics here. She is trying to get Gus Grissom's space suit moved back to his museum in Mitchell, Indiana. That seems to be as good a place as any to have his space suit. After some Googling here is a link to her site.

It shouldn't be hidden in the Smithsonian with a bunch of other guys suits but have some sort of place of honor at his museum. It seems that NASA doesn't like the Grissom family very much according to the article:

Relations between Grissom's wife, Betty, and NASA have been uneasy since he and two other Apollo 1 astronauts died in a 1967 command module fire during a training exercise. The space agency, she feels, ignored her family after the tragedy, even as it honored the crews of Challenger and Columbia.

Maybe that is why they seem to be dragging their feet on this thing and is going to make a ruling four months from now. After the media heat dies down of course. It seems like the Smithsonian is kind of hostile to this thing too:

"Amanda Meyer is a nice young lady, and as well meaning as she is, she's a third party in this," said Roger Launius, chairman of space history at the Smithsonian's National Air and Space Museum.

So she should just forget about all this grownup stuff and go back to playing with her little dolls? Maybe the article took his words out of context but he sure sounds like he is saying that Amanda should just butt out of this whole thing. Hey Grissom is her hero so it is only right that she is fighting to get his space suit placed at his museum. I think Mr. Launius should not condescend to people interested in the thing that he is a historian of.

I'm not sure if this is a good idea

Hmm, looks like they may tap the oil reserve here. This won't drop gas prices because it is the refiners that are getting squeezed here. They can't convert the oil into gas fast enough. It may be a good gesture just to show that something is being done at least.

Also it will probably drop crude prices because it seems like one of those jawbone style measures. Tap a few million barrels and talk about tapping more to let some air out of crude prices. And this certainly won't be a reason to tap the reserve:

"Skyrocketing gas prices have tipped consumers upside down this summer and to protect our economy, the president should act immediately to tap the SPR," Sen. Chuck Schumer of New York said.

Um, we tap the thing for an emergency. Having to pay $3 a gallon really isn't an emergency it is a temporary inconvenience. What Schumer should be calling for is a federal subsidy of some kind to companies that build new gas refineries. Or maybe relaxing the environmental requirements to get new refineries built. Or maybe even providing some sort of incentive to build new refineries in Mexico.

Friday, August 26, 2005

Oprah backpeddles on the Snub

It looks like Oprah is doing some back sliding on snubbing the funeral of Ebony and Jet magazines founder John H. Johnson. Hmm it seems the guy died on Aug 8 and Oprah was here in Hawaii at the time. His funeral was on Aug 15 though. Plenty of time to hop a flight back to Chicago and attend the funeral and then jet back here. I mean she is a billionaire after all.

Now she is trying to make amends for this snub:

She said she sent notes to both Johnson's widow, Eunice, and his daughter, Linda Johnson Rice — even offering to provide Martin copies of the notes and a receipt of the flowers she sent to Johnson's downtown publishing company, according to the newspaper.

Yup, she is willing to show proof that she had dictated some note and bought some flowers for a supposed pioneer in black enterprise. I mean anyone could have had their assistant do that kind of thing. I guess John H. Johnson doesn't rate.

She also told Martin she plans to pay tribute to Johnson when she returns from her summer hiatus with a TV show dedicated to the man who built a media empire and became one of the nation's wealthiest black businessmen.

I have a feeling that the idea for this show happened after Chicago Defender Executive Editor Roland Martin called her on the snub. She will admit up and down that she thought of the idea Aug. 8th and not after that copy of Chicago Defender came out. In case her Hawaiian vacation is more important then John H. Johnson ever was.

They found Scout Taylor-Compton

And she wasn't wearing a toe tag when they did. And I hit the nail directly on the head when I was thinking about this case earlier:

Details are scant on Taylor-Compton's whereabouts for the past two weeks or why she disappeared, but a spokeswoman for the San Bernardino County Sheriff's Department said that a schoolteacher overheard classmates talking about the AWOL Taylor-Compton and alerted the Apple Valley Police Department. Deputies in turn tracked her down at the home of a boy and returned her to her family

Yup, she was staying at her boyfriends house it seems. I have a feeling that this boy is her first real relationship and maybe the parents don't like him. So she runs away and stays at his place when his parents are out of town. Green and Fontana of Law and Order would have wrapped this thing up in a few hours I think.

Piper Jaffray thinks Byetta could have 30% more sales

This is an interesting conclusion? I guess they talked to the people who were in the various studies for Byetta and came out with these findings.

We have received feedback from the field that patients are receiving multiple Byetta [injection] pens per prescription," Piper Jaffray said. "These comments led us to analyze the number of pens/Byetta prescription. Contrary to current thinking that 1 prescription = 1 pen, our analysis of IMS data indicates 1 prescription = 1.3 pens (i.e., 30% more dollars)."

I hope it's not because Byetta isn't as effective as the regular insulin drugs. Maybe it is because the people in the study are buying an extra one to keep at home and one to take with them when they travel or go to work. If that were the case it would be similar to an asthma inhaler. Should be a nice drug once it gets to market. This analysts agrees:

Piper Jaffray continues to believe that Byetta "could be the next biotech blockbuster."

Thursday, August 25, 2005

GM extends employee Discount

It looks like they are extending the discount until Sept. 30 now. And they are extending the discount to their high margin truck line:

The world's largest automaker said Thursday the plan now includes select 2006 full-size trucks and sport utility vehicles, including Chevrolet's Avalanche and Tahoe, the GMC Yukon and the Cadillac Escalade.

Hmm I guess it would be a good time to buy a massive gas-guzzler now. Buy when the discounts flow and reap the rewards as gas prices go down. If they go down at all that is.

Don't Take your Rare Coins to the US Mint

It looks like they seized these Double Eagle Gold Coins without a good reason when they were taken in for verification.

David Lebryk, acting director of the Mint, had announced in a news release that the rare coins, which were never put in circulation, had been taken from the Mint "in an unlawful manner" in the mid-1930's and now were "recovered."

What evidence do they have that they were taken from the Mint in an unlawful manner? Do they have witnesses or finger print evidence or something? I guess a friend at the mint may had given or perhaps sold this guy the coins. Whatever the case the Mint is going to be the last place to take super expensive coins for verification. They might take them.

Wednesday, August 24, 2005

Frank Robinson is 100% right

I think baseball should listen to Frank Robinson. If a player is caught using steroids wipe everything out no matter if they were using steroids in that season or not.

Make it so they had never played the game at all. It would be like they never even picked up a bat or put on a glove. No asterisks, notations, or just wiping out the one season that they cheated. Wipe it all clean. This would really make people think twice about using steroids because all of their hard earned records will go up in smoke.

This would even stretch to people who unknowingly use steroids like Bonds. I mean if you don't know about the speed limit you are still at fault for ignoring it. Ignorance of the law is no defense. Its time for baseball to get tough about cutting out this cheating.

Robertson shouldn't apologize for what he thinks

I guess it looks bad for a Christian show to want to put out hits on world leaders though. I think if it was on Conservative talk radio then it would be no big deal.

But if he feels this way he should just say that his views do not reflect how the State Department or the US government thinks. He could even distance himself from the 700 Club by saying this is his own opinion and noone else shares it.

Don't back down from cretins like Chavez. If you want him struck down by God's mighty hand then just say it. Guys like Chavez loves to see fear and backsliding from any American that would want to give him an Apache helicopter sendoff. Hmm maybe Robertson should challenge Chavez to a duel a la Zell Miller.

What happened to Scout Taylor-Compton?

Hmm this is a strange disappearance. I wonder what happened to her. The police say:

A spokeswoman for the San Bernardino Sheriff said the young actress was likely a runaway.

Hmm I wonder how they would determine this. I guess she was depressed or something before she disappeared. Her career seemed to be going full tilt so that couldn't be a problem. I wonder if she had a history of running away? The police are probably checking out her acquaintances as well. Maybe she fled with her boyfriend.