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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
- Oil demand withers. The International Energy Agency warned Friday worldwide oil demand...
- The Macro View -SampleSeeking Alpha - The Macro ViewMarket Outlook
- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- Long Term, Financials Look Good by Michael Filloon
- Round 3 of the Recession: Main Street by Paul Fekula
Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
- Oil Down 48% from Highs by Bespoke Investment Group
- Oil & Gas Headed Lower as Economy Strikes Consumers by Michael Filloon
Economy- Long Term, Financials Look Good by Michael Filloon
- Round 3 of the Recession: Main Street by Paul Fekula
- Reality Bites As Stocks Continue To Collapse by The Mole
- Investing Ideas -SampleSeeking Alpha - Investing IdeasCramer's Picks
- Farewell Financial Bear Raids - Cramer's Mad Money (10/14/08) by SA Editor Joan Wickham
- Better Picks - Cramer's Lightning Round (10/14/08) by SA Editor Joan Wickham
- Perhaps Industrials... Cramer's Stop Trading! (10/14/08) by SA Editor Joan Wickham
Long Ideas- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
- The Long Case for Encore Capital by Value Investor Insight
- 2009: The Year of the Channel for SaaS Vendors? by Jeff Kaplan
- Two Global Infrastructure Investment Opportunities in ETFs by Investment U
- Market Behaves Sanely - Fast Money Recap (10/14/08) by SA Editor Joan Wickham
Short Ideas- Why Short Sellers Are the Heroes of Wall Street by Investment U
- Salesforce.com: Pricey and Coming Down Fast by Charlie Bottle
- Google: 3Q Results Reveal Chinks in the Armor by Mark Krieger
- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend. - Stocks & Sectors -SampleSeeking Alpha - Stocks & SectorsInternet
- eBay: Q3 Looks Good but Q4 Guidance Disappoints by Greg Feirman
- Is Google Feeling Lucky? by Sam Gustin
- Why Today Could Suck for Tech by Kevin Maney
Media- A Triple Financial Whammy Afflicts Newspapers by Ken Doctor
- Three Years On, Buying MySpace Looks Like One of Murdoch's Smartest Bets by Erick Schonfeld
- How Will Arbitron Fare in This Market? by Sreeni Meka
Telecom- Ten Ways to Invest in Louisiana by Stockerblog
- Earnings Preview: Electro-Optical Engineering by theflyonthewall.com
- Shared Docks Via WiFi All the Rage by Dean Bubley
Financial- Switzerland Strengthens Its Banks; Short Interest Remains Low by Jessica Johnson
- Reality Bites As Stocks Continue To Collapse by The Mole
- LIBOR Shows Worst Is Yet to Come for Credit Markets by Keith Fitz-Gerald
- Global Markets -SampleSeeking Alpha - Global MarketsChina
- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
- Perfect World Announces Share Repurchase Program by Trader Mark
- China: Hot Money Inflows Down, Nervousness Up by Michael Pettis
India- Indian Economy Has Much to Cheer About by Equitymaster
- India: RBI Cuts Cash Reserve Ratio by Equitymaster
- India: Markets Continue Downward by Equitymaster
Japan- Sanyo Enters Thin-Film Market, Goes Up Against Sharp by Greentech Media
Asia- Four International Dividend Stocks to Watch by David Hunkar
Eastern Europe- Reality Bites As Stocks Continue To Collapse by The Mole
- Alternative Energy Investing -SampleSeeking Alpha - Alternative EnergyAlternative Energy
- Seven Stocks for an Impending Apocalypse by H.J. Huneycutt
- Solar Shares Under Pressure From Credit Crunch and Pricing by Eric Savitz
- Trina Solar Looks Good, Though Market Yawns by Trader Mark
- The Electric Car Market: Wise Energy Use Stocks by Tom Konrad
- Investing in the Power of the Sea
- ETF Daily -SampleSeeking Alpha - ETF DailySector ETFs
- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
- Two Global Infrastructure Investment Opportunities in ETFs by Investment U
New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
- Overview and Analysis of the Global Generic Drug Industry by Mike Havrilla
Emerging Market ETFs- Brazil Is the Best of BRIC by Carl T. Delfeld
- Playing the Market in Difficult Times by Jason Hamlin
- The Daily Dispatch -SampleSeeking Alpha - Daily DispatchWall Street Breakfast
- Wall Street Breakfast: Must-Know News by SA Editor Rachael Granby
US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- Wall Street Breakfast: Must-Know News by SA Editor Rachael Granby
Housing & Real Estate- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Another 'Root Cause' That Isn't: Tumbling Home Prices by Tim Iacono
Transcripts- TrueBlue, Inc. Q3 2008 Earnings Call Transcript
- Polycom, Inc. Q3 2008 Earnings Call Transcript
ETF- Too Early To Buy Homebuilders ETF by Larry MacDonald
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Latest Comments22 Comments
Jerry Yang's Blunder - Worst Business Decision Ever?
New Bond Movie Should Take a Quantum Leap at Box Office
Who Will Win? Microsoft Doubles Google's Offer to Verizon
Another Report That Apple is Cutting iPhone Production
Initial Thoughts on Android and the G1 Smartphone
Other problems could arise from poorly-written software. Some application may cause the phone to crash or, like one game that I used on my Palm TX, to turn the device back on (full operation) after you think that you've turned it off, running the battery down.
eBay: Getting Something for Nothing
Not if you build that into the price, which Amazon, Buy.com, and many other companies do. (Amazon offers free shipping on most orders over $25.) Have you tried to sell anything through Amazon Marketplace? It sets the shipping charge for you--a fixed rate per book, for example, regardless of the weight of the book. When I asked about that, the reply from Amazon was that I should include the total cost in my price.
eBay: Getting Something for Nothing
I use eBay as a buyer, though I will be selling some things soon. (I have sold a few things in the past.) So far, in 2008, I've bought over 420 items on eBay, some as much as $1,000 (lens a Canon SLR camera). More than half have been from "small" sellers and individuals. All told, I've bought over 1,500 items on eBay since 1999. My feedback rating is 100% positive.
From a BUYER'S perspective, the biggest problems I see are from sellers, not eBay. Most of the sellers I've dealt with have been quite good, but some were horrible and other sellers' behavior was so obvious and egregious that I wouldn't buy from them. Some problems verge on dishonesty, others may be the result of ignorance, greed, or just plain stupidity.
- Sellers who hype their descriptions, often violating eBays listing rules by including brand-names in titles and descriptions that are NOT what they're selling. (E.g., a photo filter might be by Sonia (Indian company), but the seller includes top brands like Hoya and Tiffen in the title.) For used items, the terms "mint" and <GAG!> "minty" are used for items with obvious wear and even missing pieces/parts.
- Sellers who use invisible tags/keywords by making the text white. I ran into one listing that had over 1,000 keywords this way. I reported it to eBay, but it was not removed.
- Sellers who charge exorbitant shipping fees--e.g., $15 to send a 2-oz item via first class mail in a cheap padded envelope (no insurance). They apparently do this to get around eBay's fees. Some set a small price like $0.99 for the item, then charge $9.99 for shipping.
- Sellers who don't ship for a week or longer, including one whose listings claim, "Fastest shipment on eBay!"--but who didn't ship my item for 9 business days.
- Sellers who sell things they don't have. One fairly large company, with its own website, listed some horse blankets on eBay. They took over a month to ship because the company didn't have them in stock. (In some states, I understand, that may be illegal.)
- Sellers who set unrealistic reserve or starting prices. Currently, there is a used book listed starting at $72, but which sells on Amazon new for $16. (And, no, it's not signed nor a rare first edition.) An artist listed a painting that didn't sell, so he/she RAISED the starting price, THREE times. It still hasn't sold, of course: sometimes, the Gods do set things right.
- Sellers who use stock photos they got from some website, rather than photos of the actual item they're selling, especially for used goods. Then, there are sellers whose photos are grossly out of focus and/or terribly exposed. (I found one dealer in antiques/collectibles whose photos were so bad that it was impossible to read the markings that the photos were supposed to show.)
- Sellers who appropriate not just bits and pieces, but entire pages from someone else's website as parts of their listings. Some sellers seem not to understand or, perhaps, not to care about copyright and trademark laws.
- Sellers who include looping scripts in their listings that cause browsers to hang up or seriously slow down.
- Sellers who use "checkout" services that add anywhere from 3 to 8 (yes, 8) additional steps for the buyer and end up at the PayPal site--and then open pop-under windows.
- Sellers who think that they have to use animated GIFs, grotesque borders, 72-point text in 17 colors, sounds that play with no way to cut them off (other than closing the page), huge photos (1000+ pixels wide), and "cutesy" stuff, like putting "L@@K!" in titles.
I won't complain about the listings from sellers in China that are difficult to understand because of poor translations, though the larger companies could hire someone who speaks/writes English well. However, many US sellers are almost as bad.
As I wrote, most of the sellers have been quite good, but I have to wonder how many who are complaining about poor sales have contributed mightily to that problem by their own actions.
FWIW, I use an auction-management program, Auction Hunter, which does pretty well in searches--it turns up listings by all levels/sorts of sellers, not just the power sellers.
Apple's iTunes Chump Change for Hollywood
By the same logic, NBC, for example, shouldn't bother selling ads on a college bowl game, as that is just "chump change" compared to GE's market cap.
Is Apple's New MacBook Affordable Enough?
We Need Oversight - and Compensation to Taxpayers
Can you imagine that the owner(s) of an NFL team would keep on a coach who allowed his team to fall apart in this way? He'd be out on his ear and never work in football again. The high pay of executives should reflect their performance AND constantly be at risk--they should be able to be fired immediately, with no "golden parachute."
We Need Oversight - and Compensation to Taxpayers
Apple: Leading the Way to a Total Tech Breakdown
Apple Event: HD TV on iTunes 8, New iTouch and Nanos
"60-day anniversary" is nonsense. An "anniversary,&quo... by definition, is the ANNUAL commemoration of some event. What will you have next, the "2-hour anniversary" of your lunch?
Five Reasons Steve Ballmer Thinks Apple's a Buy
Declines from Peaks in Housing Show Big Disparity
Guess what? I found another hidden but fascinating truth! The average percentage of wins by MLB teams is UNCHANGED from last year, despite the economy. Obviously, MLB teams are UNAFFECTED by the economy. In difficult economic times, it would thus make sense to invest in MLB.
What's wrong with that? The author probably wouldn't understand. (Hint: just what IS the "average percentage of wins" for a MLB team?)