The new IMeat?

This is a funny story from here in Hawaii. I have shopped at the Mililani Wal-Mart quite a bit but I never thought they would be selling meat in an Ipod box. I wonder what type of meat it was and if it came from Apple. This article says this:

Cambra says the box was sealed and that it didn't appear to have been tampered with when she brought it home from the Honolulu Wal-Mart where she works.

She says she had put the iPod on layaway so that she could afford the device's hefty $300 price tag.

"I know what I went through to get this for him," said an incensed Cambra. "To open up and find this? I don't know what to say."

"This" appeared to be some kind of sealed fish or meat product, certainly not a state-of-the-art MP3 player.

I think this is Apples new way of getting into the sealed food business.

WIFI matches Ethernet Speed

We may be entering the non cabled age at last.

Wireless networks may be convenient to set up, but wired ethernet has always been faster. Now a new generation of Wi-Fi products is challenging ethernet's superiority for high-bandwidth apps. We sampled some of the first of these Wi-Fi products--Netgear's $180 RangeMax 240 Wireless Router and $100 Notebook Adapter--and found that at close range, even with encryption enabled, data speeds were only a little bit slower than on a standard 10/100 megabits-per-second ethernet network.

Audit Finds FEMA Corrupt

It looks like FEMA needs a real overhaul here.

"When one considers that FEMA's programs are largely administered through grants and contracts, the circumstances created by Hurricanes Katrina and Rita provides an unprecedented opportunity for fraud, waste, and abuse," the report said.

It said while Homeland Security was taking steps to manage spending for Katrina, the size of the response and recovery efforts created "an unprecedented need for oversight."

The bad thing is that they were not prepared for a natural disaster of that magnitude even in a worse case scenerio form. Lack of planning just shows that the people at the top of FEMA were incompitent and shouldn't have had that job in the first place. They should have a plan for any possible disaster that happens in the US. If a meteor hits in NW Ohio they should just pull out a folder and put the plan into place. I wonder if they have a plan for another terrorist attack? Probably not depending on the idiots running the ship.

Windows WMF Flaw Found not Patched Yet

This one looks bad because they can execute the code simply from going to the website and currently there is no patch or workaround. I'm staying in the corporate part of the internet until they can get this thing patched.

The attacks can be carried out thanks to a newly discovered vulnerability in those operating systems' handling of corrupted.WMF (Windows Metafile) graphic files, the firms said.

The firms describe the exploit as "zero day," because malicious hackers are taking advantage of it while there is no patch or certified workaround against the vulnerability.

JK Rowling Starts on last Harry Potter

Well she just started on the last book in the series with Harry 17 I think. I wonder if he is going to get a girlfriend in this one. It would give the story an interesting dynamic. I also think Ron and Hermoine will get romantically involved in this one as well.

Mild Winter Bad for Natural Gas

Hmm it looks like the fear that people will be seeing sky-high heating oil and natural gas bills is starting to fade. I wonder if consumers will be using that cash to buy more crapola though. It will be interesting to see the retailers numbers next week though. This Christmas seemed pretty busy as far as I could tell.

Yield Curve Inverts Recession Imminent?

It looks like hte yield curve inverted today and it smacked-down stocks. This is interesting news:

Such an unusual event typically has foreshadowed a noticeable economic downturn. Usually, a recession has followed.

Despite the warning signs in the Treasury market, however, few economists expect a recession in the next year. This time, they say, things are different.

This time will be different? I'm not so sure about that. The yield curve only inverted once and there was no recession. Here is when:

The yield curve briefly inverted in 1998 during the Asian financial crisis -- the only time in the past 30 years that an inverted yield curve has not preceded a recession.

One time in 30 years isn't anything to bank on. It may be time to be vigilant in the market and start hedging your stocks well.

John Whitehead claims Spitzer is a mean bastard

Wow, now these really are some fighting words if they are true. Here is what Spitzer supposedly told him:

"Mr. Whitehead, it's now a war between us and you've fired the first shot," Whitehead quoted Spitzer as angrily stating.

"I will be coming after you. You will pay the price. This is only the beginning and you will pay dearly for what you have done. You will wish you had never written that letter," Whitehead claimed Spitzer said.

The letter he refers to is an op-ed piece that talks bad about Spitzer. If what he said is true through it sounds like the kind of thing an evil overlord says to the hero in some fantasy novel. "You will pay dearly for what you have done!" Maybe Spitzer and Voldemort from the Harry Potter novels are one and the same?

Kerkorian Bails out of GM

It looks like the stock may be going down the toilet here soon. This is what he has just did with a little tax losses offsetting gains smokescreen attached:

Kerkorian disclosed in a regulatory filing Tuesday that his sale of 12 million GM shares generated a loss that would be used to offset gains elsewhere in his investment company's portfolio for tax purposes.

This is how much he is down in the stock already:

Kerkorian spent about $1.7 billion to build a 9.9 percent stake in GM this year. But he's now about $600 million in the red, counting the almost $110 million loss on the sale of the 12 million shares and the reduced value of his remaining 7.8 percent stake.

Wow, $600 million in paper losses should make even a billionaire sick to his stomach. He couldn't get his guy on their board either so he may be bailing out on the whole mess. Could a bankruptcy filing be in the cards? Even though everyone from the CEO on down has denied it?

If you are conspiracy minded then Kerkorian had heard a little something from his people in and around GM and is pulling out as fast as is prudent. Or maybe he just doesn't have faith in the guys running GM and since he can't get his people in there he is taking his loss like a man. Either way the stock will probably be in for a lot more bruising going forward.

RIMM Beats Street

RIMM seems to be hitting on all cylinders dispite the looming threat of a shutdown.

Net income rose to $120.1 million, or 61 cents per share, from $90.4 million, or 46 cents per share. Revenue rose 53 percent to $560.5 million from $365.9 million and was above analysts' forecasts of $549 million.

Adjusted net income of 71 cents per share topped the 65-cent mean estimate of analysts surveyed by Thomson Financial.

They gave the numbers a pretty bad beat and that revenue growth looks pretty good as well. The CEO seemed pretty pumped up as well:

"The business is really soaring. It's not just doing OK. It's soaring," James L. Balsillie, RIM's chairman and CEO told The Associated Press in an interview. "A lot of people have said `Wow, I thought it was all kind of tough,' but we've been telling everybody sales are fine."

They may have some subscriber problems due to the possible shutdown and they forcasted that number to be lower in the 4th quarter. If they settle those problems then it will be like a weight got lifted off of the stock. Seems like a decent time to put this guy back on the watchlist.

2006 Could be a Good Year to Invest

It seems like we will have a pretty decent year in 2006 according to this article. They say that the GDP growth numbers will be slightly less next year. Also profits may be a bit down as well. Other then that it seems pretty rosy since the FED will probably finish tightening by spring. Here is what has them worrying though:

A sharp dropoff in housing activity and home prices may not be the expected scenario, but it is at the top of most forecasters' worry lists of what could go wrong in the economy in 2006. So is the price of oil. Its ups and downs could be either a positive or a negative for growth. Any sharp swing out of the range of $45 to $70 per barrel would affect growth and overall inflation.

Throw in concerns about a possible plunge in the dollar, shrinking foreign capital inflows, and new acts of domestic terrorism, and you have enough in the mix to make any investor queasy.

Bullets Fly and Knives Brandished at Notorious BIG party

Wow now this is some kind of launch party for the new Duets album that is coming out with people singing with the rapper from beyond the grave. The whole idea of an album with people singing along with a dead guy is weird and sure enough gunfire crackled and knives were drawn at this party:

Police said that at 3:10 a.m. patrol officers heard gunfire at a parking garage near the club. Inside, they found three men with gunshot wounds; all were taken to the hospital in stable condition.

Moments later, police received a 911 call reporting a stabbing at the club. Officers found three victims — two men who were slashed in the face and one who was stabbed in the stomach; all were hospitalized.

I wonder why the people were stabbed and shot in groups of three? That seems almost ritualistic. Perhaps they were West Coast rappers or hangers-on shot and stabbed by the Ghost of Notorious BIG? Are Tupac and Biggie continuing their West-Coast vs. East Coast war from beyond the grave? Now that would be nuts.

Intelligent Design dealt a Deathblow by Judge

It looks like Evolution won out against all comers today.

A federal judge on Tuesday banned the teaching of intelligent design as an alternative to evolution by Pennsylvania's Dover Area School District, saying the practice violated the constitutional ban on teaching religion in public schools.

I guess this is a good deal. I don't see what is wrong with teaching some kind of religion in public school though. They could have an optional religion elective that goes through the various kinds of religion and their history and beliefs. Since it is an optional elective then anti-God types can just have their kids take basketweaving or something instead. They may already have something like this but they didn't when I was in public school in the 90s.

Iran Fights Back Against Music Ban

It looks like the common Iranian doesn't care too much for Ahmadinejads stupid ban on their music.

"This president speaks as if he is living in the Stone Age. This man has to understand that he can't tell the people what to listen to and what not to listen to," said Mohammed Reza Hosseinpour as he browsed through a Tehran music shop.

I wonder if the AP is putting this man in danger though. The secret police can round up Mr. Hosseinpour and put a bullet in the back of his head out in some wild and empty place. They should have used the words Iranian music buyer instead of his full name. Whatever the case Mr. Hosseinpour is a pretty brave dude for talking to the press like this and badmouthing their insane leader.

Nick and Jessica File for Divorce

It looks like it is final. The two "Newlyweds" are headed for divorce court. I guess when you turn off the camera Simpson didn't seem all that appealing anymore. I mean she is barely mentally coherent and is totally controlled by her father. She can barely keep an adult conversation going.

And with Ashlee Simpson cracking up in Tokyo. The plans Joe Simpson had for building a Simpson Empire are beginning to fall apart. Jessica will still get some bad movie rolls but I don't think Ashlee is ever going to live down her SNL Lipsink and Jig episode. I wonder if we will still hear about either one this time next year?

West Wings Leo died

This sure was a sudden development. John Spencer the guy that played Leo on the West Wing died of a heart attack at the age of 58. I wonder what will happen to the new episodes of West Wing now. Will his character actually die or will he be written out of the show in some other way. It is a sad story but it will be interesting to see how it is handled.

Google to buy 5% stake in AOL

Hmm this is a strange deal for AOL to make.

"Why would Time Warner shareholders be happy sharing some of AOL ownership?" asked Blake Warner, an investment banker at Thomas Weisel Partners. "What does AOL suffer from? It suffers from a declining dial-up subscriber base. Time Warner is still stuck with that."

Unless Google comes up with a solution that fixes the migration of AOL subscribers to the broadband offerings of other access providers, it's unclear what Time Warner shareholders stand to gain, he said.

Perhaps this could be a good faith thing so Google can get in the door before MSFT. So it is like a $1 billion dollar payment with an option to buy the company in the future. I think things could be really heating up for Time Warner before too long.

Tough Talk from Morgan Freeman

He really raises some interesting issues with this 60 minutes interview. This is what he said:

"You're going to relegate my history to a month?" the 68-year-old actor says in an interview on CBS' "60 Minutes" to air Sunday (7 p.m. EST). "I don't want a black history month. Black history is American history."

He also goes on to say:

Freeman notes there is no "white history month," and says the only way to get rid of racism is to "stop talking about it."

The actor says he believes the labels "black" and "white" are an obstacle to beating racism.

"I am going to stop calling you a white man and I'm going to ask you to stop calling me a black man," Freeman says.

Yup, if we get away from the labels we will eventually see everyone as just Americans. Sometimes the words "white and black" carry some of the baggage of racism. Nowadays something like a "White History Month" could only be seen as something that would exclude other races. I can already hear the cries of racism pointed toward a person advocating such a month.

So a black history month *could* be thought of as doing the same. In other words providing a history month that excludes other Americans points out that they are singled out from other Americans. So their history could be misinterpreted as separate from everyone else's.

They should have a shared history because they do have a shared history. And thus they should be included with all the other races living in the US with an American History Month. Such a month should go through the entire American experience warts and all. Celebrate building the Panama Canal and the going to war for Europe but at the same time denigrate the killing of the Indians and Slavery. So it would go from Americas highest highs and then our lowest lows and everything in between. We should be honoring all of us and not just singling out one group or the other for whatever reason.

Retailers Not so Hot this Holiday Season

It looks like consumers are playing chicken with the retailers again according to this article. It looks like heating bills may be the culprits this time around:

HereÂ’s the bottom line: So far the retail picture has been a decidedly mixed bag. Consumers are spending, but stores have had to rely on heavy discounting. After what could be described, at best, as a decent start to the holiday season, indications are that sales have already started to tail off. The last few days leading up to Christmas will be critical. Unfortunately for retailers, this will come immediately after many consumers receive their first winter heating bills. Sticker shock could lead people to lower their thermostats on holiday spending, leaving many retailers out in the cold.

I'm not sure if this will be the case though. I think Americans will still be able to buy what they want this holiday season. They will probably tighten somewhere else instead. I wonder what the statistics are about heating oil usage this year? People could be using less oil or just heating one room to save money like the Europeans.

Bush Offers a Mea Culpa on Iraq

Well it looks like he is finally owning up that the pre-war intelligence was junk and we went to war using the wrong cover story. He says:

"It is true that much of the intelligence turned out to be wrong. As president I am responsible for the decision to go into Iraq, and I am also responsible for fixing what went wrong by reforming our intelligence capabilities and we're doing just that," he said

So he is finally owning up to what went wrong. I guess that makes him a stand-up guy. This part I agree with also:

But he said, "My decision to remove Saddam Hussein was the right decision" because he was deemed a threat and that regardless, "We are in Iraq today because our goal has always been more than the removal of a brutal dictator."

I thought this should have been the focus from the very beginning. Remove the brutal dictator so you can put other brutal dictators on notice that the US may come after them. Then they should have had the propaganda blitz focus on Saddams atrocities and finding evidence of them.
In other words go from the weapon inspectors to the forensic pathologists searching for evidence of atrocities. Do it under the guise of helping the Iraqis find their missing relatives or something similar.

They could have made this switch at the very beginning and downplayed the WMDs. Now switching the tune 3 years in just shows that the White House did not have the spin mechanism that Clinton had. It seems that a democratic Iraq could come out of all this. And if it does it will be one of the greatest good deeds in US history.