Tuesday, December 02, 2003
Hinky finds that following Byron and Crudele in the nypost.com is a sure fire way to find some of the hinkiest material out there each day. Today, is not an exception, as Crudele points to the Federal Reserve's 1984 math (you know, 2+2=5) on the employment, or unemployment rate depending on how you see the broken glass. Jobs. Are their more out there than before? The answer means a lot for the economy, particularly in an election year, right? Well, the Feds figures don't match up with other orgs, such as more independent bean counters see, http://www.conference-board.org/economics/helpwanted.cfm
Meanwhile, here is something else to chat and chew about down at the diner, a quote from Edward Siedle, Esq., who is a former SEC head with over 20 years of vast exposure to Wall Street: "There's no question in my mind that the senior management of many of the leading fund companies have participated in wrongdoing, have been involved in criminal activity amounting to obstruction of justice."
Today, the nypost.com reports Invesco, the UK company with 18 Billion dollars under management is at bat, as in, due to feel the thick side of the bat, while Eliot Spitzer gets ready to start swinging. Hey, a drop in the bucket is better than "nothing done", right? But hey, the SEC may adopt a rule requiring compliance departments to report directly to each fund's Board of Directors, so now that the barn is just a memory, maybe we can screw down and wreck the whole biz for the next generation while the hinky three card monties who came took and went sit in the sun down in Chile, right? I don't know; maybe they still going to that town on the French German boarder, near the lake. It's like a set out of a Disney movie, except everyone smokes between courses in the restaurants there.
All in all, it looks like the quiet economic upheaval is progressing swimmingly, like Tom Hank's volleyball through a perfect storm. Hinky flashback: remember these guys-- http://www.fortune.com/fortune/specials/2003/1027/enron.html
Hinky 10:00 AM
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Monday, December 01, 2003
Byron ripped EGHT, or 8x8, a company that sells telephone service over the internet service, just like Vonage and theglobe.com. He makes a good point. Phone companies and cable companies are in a good position to sell cheaper service if these VOIP companies get any traction, so why would they buy out these small comers? Well, that doesn't mean their stock can't pop, right? EGHT popped over 4000% in the last while, as the buzz and sizzle started, and the greed saps poured back in. Very hinky.
Cheap calls.
Let's hope the election year makes keeps the music playing long enough for them to add some chairs for when it stops.
Hinky 7:50 PM
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