Morons: Citi Sues AT&T Over the Word ‘Thanks’

At the end of times, there will be nothing but bugs and lawyers left to inhabit the earth. In what could only be described as a very moronic and wasteful time to be spending in court (hello billable hours), Citi is suing AT&T for using the word ‘thank you.’

While AT&T isn’t using the words ‘Thank You’ in their material, but instead ‘thanks’, the fucking assholes at Citi believe it’s too close for comfort and would rather sue than to think this through like a rational human beings.

The bank sued AT&T Inc. on Friday over the telecom company’s use of the trademarks “thanks” and “AT&T thanks” in a new customer-loyalty program. The use infringes several of Citigroup’s trademarks, including “ThankYou” and “Citi ThankYou,” according to a complaint filed in Manhattan federal court.

Citigroup, the world’s biggest credit-card lender, has been using the “ThankYou” trademark in a customer-loyalty program since 2004, and more than 7 million of its customers have a ThankYou-branded credit card, the bank said. Citigroup wants a court order barring AT&T from using the terms.

AT&T’s use of the phrases “is likely to cause customer confusion,” the bank said. The trademark designs also have similar fonts and word placements, according to the suit.

AT&T is balking at New York-based Citigroup’s allegations.

“This may come as a surprise to Citigroup, but the law does not allow one company to own the word ‘thanks,’’’ AT&T spokesman Fletcher Cook said in an e-mail. “We’re going to continue to say thanks to our customers.”

Litigious animals. Bleak House.

I’ve been very docile with my viewpoints with you this year. Part of it has to do with my retirement from the fuckheaded money management business. The other part is a certain zen that has washed over me, as I am supremely confident with my investment strategy, more so than at any time in my illustrious career.

It reminds me of the time, as a young intern, in the NYC Comptrollers office. It was the mid 90’s and I was stark raving mad bullish on this thing you now know as the internet, professing the virtues of this small start up company called America Online. The bosses there heeded my advice with skepticism, printing out articles from fucked faces who said Microsoft would, in fact, destroy AOL in the race towards being the #1 online service provider–leaving such filth on my desk as a lesson of sorts for a know it all punk kid.

Fast forward 5 years later, my tiny $6k investment in AMER swelled to over $250k, helping a young lad from Brooklyn escape the horrors of living in a basement apartment with my wife and young child.

BEHOLD B. Gross and his ‘supernova’ theory.

It’s not nice of the British people to desire freedom and independence from the EU hegemony, controlled by trollish looking like men and women in Brussels. In a surprise poll, conducted by the Independent (ironic), the lead of the pro BREXIT camp grew from 51% to 55% since April. If this was to come to fruition, the authoritarians in the EU would be, inexorably, fucked–with others almost certainly vying to escape their wrath as well.

The survey of 2,000 people by ORB found that 55 per cent believe the UK should leave the EU (up four points since our last poll in April), while 45 per cent want it to remain (down four points). These figures are weighted to take account of people’s likelihood to vote. It is by far the biggest lead the Leave camp has enjoyed since ORB began polling the EU issue for The Independent a year ago, when it was Remain who enjoyed a 10-point lead. Now the tables have turned.

Even when the findings are not weighted for turnout, Leave is on 53 per cent (up three points since April) and Remain on 47 per cent (down three). The online poll, taken on Wednesday and Thursday, suggests the Out camp has achieved momentum at the critical time ahead of the 23 June referendum.

This, of course, is having a deleterious effect on stocks and has increased today’s rout, as the dreams of a utopian society of globalist elite, trotting from one continent to the next, handing out donuts to the indigenous people, begins to morph into the fabric of fantasy, withering away like the residue from a cocaine platter at a Beverly Hills summers night out.

NOTE: The British Pound is getting pounded v the dollar.

Goldman promises great fortune for those who buy these 20 stocks, as they’re destined to crush the S&P 500 with an elaborate display of winship.

BEHOLD, here is Goldman’s top 20 picks.

This is the first big mobile chip win for Intel. Both ARMH and QCOM really dropped the ball on this one.

I am sure Apple raped Intel on this deal, as they’re infamous for squeezing suppliers.

Both ARMH and QCOM are getting hit, while INTC recovers from earlier losses

You can’t make this shit up.

Norwegian officials say a wooden exhibition ship built as a representation of Noah’s ark has struck a coastguard vessel in Oslo harbour, damaging both ships.

Coastguard spokesman Rune Svartsund said the wooden ship was being towed into harbour on Friday morning when it ran into the Nornen, a patrol vessel moored at the quay.

Svartsund said no one was injured but both ships were damaged.

Get the fuck out of the way, Oslo. The ark floats and needs to find refuge for the scores of zebra, jaguar and giraffe on board the biblical styled ship.

TLT is at new highs. There were a great many of you who talked shit, suggesting that I was insane for taking such a stubborn view on bonds. You’re all drowning in a catastrophic flood now, as the oars from my ark bashes your skull in.

I’ve been doing this a long time. I’ve made scores of great calls, some of which have made many of you many millions of dollars. This will be my best call ever.

My newly minted positions in GLD, AUY, AU and NEM aren’t fairing too poorly either.

Get on the ark or get in the mine. If not, you’ll all perish a most horrendous death.

Before you head out and buy a bunch of non sense, lIke 3-D printer stocks, consider the following developments in western sovereign bond yields as a precursor to something so heinous, it has taken George Soros out from his crypt to take action in the market.

Yields are plunging because the negative feedback loop is real and in effect.

The Dow is off by 137 and looking uglier than Rocky at the end of part 2.

Instead of battling out a long proxy fight and other suitors, Axiall ceded to WLK and has agreed to be acquired for $33, in an all cash transaction. Previous to this, WLK was moving to remove the Axiall board and fuck everyone at the company. But now they’re all one big happy, insidious, chemical company, striving to provide the world with carcinogens.

The cos have entered into a definitive agreement under which Westlake will acquire all of the outstanding shares of Axiall for $33.00 per share in an all-cash transaction, representing an enterprise value of approximately $3.8 billion, including debt and certain other Axiall liabilities. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to be completed by the fourth quarter of 2016. The combined company will be the third-largest chlor-alkali producer and the second-largest PVC producer in North America, with expected combined pro forma revenues of $7.6 billion and EBITDA of $1.5 billion for the last 12 months ended Q1 2016. Westlake expects the transaction to be accretive to its earnings in the first year following close and expects annualized cost synergies of ~$100 million based on its estimates.

The transaction is subject to the approval of Axiall’s stockholders and customary closing conditions, including the expiration or termination of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act. In conjunction with the merger agreement, Westlake has agreed to withdraw its nomination of a slate of director nominees at Axiall’s upcoming annual meeting of stockholders on June 17, 2016. Westlake has received commitments from its banks in connection with the financing of the transaction.

Westlake noted that, upon completion of the transaction, it looks forward to working with Lotte Chemical on its current joint venture with Axiall, LACC LLC, which is building an ethane-based ethylene plant in Lake Charles, La.
Westlake will hold a conference call to discuss the transaction at 11am ET today.

This is an especially grim warning. I’m surprised the stock isn’t down a lot more on this news. This is a sell.

The company is citing the disastrous decline in revenues due to a slowing PC market.

Welcome to 2005.

As a result of new independent public accounting and other matters, including the review of the results of the Audit Committee’s independent investigation of certain accounting and internal control matters as disclosed in the Current Report on Form 8-K filed on March 1, 2016, the Company has experienced a delay in the completion of its financial statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations and other related components of the First Quarter Quarterly Report. The Company is working to complete the preparation and facilitate the review of its financial statements for the fiscal quarter ended April 30, 2016 and the other portions of the First Quarter Quarterly Report, as well as its Annual Report on Form 10-K for the fiscal year ended January 30, 2016 and its Quarterly Reports on Form 10-Q for the second and third quarters of fiscal 2016, as soon as practicable.

The Company expects net revenue for the first quarter of fiscal year 2017 to be substantially lower than net revenue for the first quarter of fiscal year 2016 (current est for -14.5%). The decrease in revenue was due primarily to lower sales of its hard disc drive storage products which is related to the overall decrease in market demand for PCs and, to a lesser extent, the restructuring of our mobile platform business, which was announced in September 2015. The Company cannot make a quantitative estimate of the expected change in its results of operations for the period indicated at this time as the Company needs to complete the Company’s annual audit of its financial statements for fiscal year 2016 and its quarterly review of its financial statements for the first quarter of fiscal 2017.