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Monthly Archives: November 2011

Moody’s Places Credit Suisse on Review

Credit Suisse Group AG (CSGN), the second- biggest Swiss bank, may have its long-term credit rating cut by Moody’s Investors Service after the investment banking unit posted a loss and income at the wealth-management division fell.

The ratings company put Credit Suisse AG’s Aa1 rating and Credit Suisse Group AG’s Aa2 rating on review for a downgrade, Moody’s said in a statement today. The Zurich-based lender’s results were “more volatile” than peers and its year-to-date returns compared with risk weighted assets were weaker.”

Full article

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Today’s Winners and Losers

No. Ticker % Change
1 CNAM 55.56
2 BXG 44.61
3 NLST 22.40
4 SHZ 19.82
5 PEIX 19.54
6 NEP 19.11
7 ICAD 17.46
8 LONG 13.60
9 MERR 12.89
10 NEXS 12.00
11 ARTX 11.45
12 GRRF 11.33
13 EFOI 11.14
14 TBUS 11.08
15 FMD 10.99
16 MNTG 10.76
17 VSCP 10.00
18 HW 9.26
19 TELK 8.70
20 TNCC 8.67
21 CRAY 8.65
22 BIOF 8.62
23 SINO 8.51
24 MITT 8.42
25 LNG 8.38
——————————–
No. Ticker % Change
1 PSDV -23.65
2 CADX -21.34
3 WHRT -20.69
4 DEJ -18.00
5 FEED -17.55
6 GSL -16.67
7 TECUA -15.37
8 ALIM -15.31
9 TPI -15.13
10 ATPG -14.81
11 USU -14.24
12 FFHL -14.07
13 JKS -13.27
14 EIPL -12.56
15 AERG -12.50
16 HMPR -12.50
17 CIIC -12.50
18 XNY -12.43
19 CTRP -12.17
20 CBLI -11.43
21 JMP -11.16
22 MOBI -10.73
23 ZLCS -10.71
24 LNET -10.55
25 GSAT -10.42

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OUTRAGEOUS! Why Higher Education is in a Bubble on Top of Student Debt Issues

Out-of-touch professors + Debt-ridden students = Bad combination

______________

Sacramento State professor George Parrott walked out of his Psychology 101 lab class Thursday morning because his students didn’t bring any snacks.

Instead, he says, he went to breakfast with his teaching assistant.

The professor said students are told of the requirement to bring snacks on the first day of class. A handout from the teacher is clear – “Not having a snack = no Dr. Parrott or TAs. Now you are responsible for your own lab assignment.”

He said the snack obligation is his way of encouraging students to work collectively. It connects students who might not otherwise interact on a commuter campus, said the professor.

“Having these goodies in the class breaks down some of the formality and some of the rigidity in the class, which is one of the most stressful for students,” Parrott said.

But students are crying foul, saying the teacher left before a review for a midterm to be given Monday. The test accounts for a good portion of their grade.

“Our education isn’t worth food, it’s for us,” said Francisco Chavez, a student in the class.

It’s also not clear why homemade baked goods would teach teamwork better than a box of Oreos. The handout offers suggestions and pictures of which snacks are preferred. It lists homemade or bakery items and vegetable or fruit platters under “Good Ideas” and Nabisco products or pre-packaged items under “Bad Ideas.”

It also suggests that two people take responsibility for each day’s snack – in case one forgets – and that they should avoid bringing the same thing every week.

The professor said he has required classes to bring snacks for at least 39 years.

His afternoon lab class brought pizza Friday, he said. But they haven’t always followed instructions either. “The afternoon lab had an externally similar failure to be collectively involved a month ago,” Parrott said, adding that he left that class, too. “They were taken aback. Their collective involvement has been more cooperative since.”

Parrott listed additional benefits of requiring “goodies” in an email to The Bee. He said the snacks maintain glucose levels that affect mental sharpness, keep students from leaving class to find food and alleviate stress in what he calls one of the most difficult courses in the department.

But the goodies aren’t just for the students. The teacher and his teaching assistants eat, but don’t contribute, according to students.

“I’m not always observing how much the TAs eat,” Parrott said Friday. “In the last month I’ve had one mini cupcake and maybe six or eight carrot sticks.”

Parrott said he doesn’t feel bad about asking college students to bring food to class. The cost, he says, is offset by savings – about $200 – which students realize by not having to buy a textbook for the course.

“This is also designed to relieve financially strained CSUS students from typical costs for texts and to provide each student the token resources to buy, bake, or otherwise access the snacks/goodies when their once per semester turn would occur,” he said in an email to The Bee.

The professor, who is 67 and retired in 2006, works part time at the university. His salary for 2010 was $44,000, according to state data.

Parrott doesn’t regret his decision to walk out Thursday. “I can understand the immediate frustration,” he said. “I’m sympathetic, but I’m absolutely comfortable with the conclusion. The ethos I’m trying to promote is incredibly important. It may not be appreciated, and that’s even more unfortunate. It speaks to their lack of understanding of higher education.”

University officials, contacted Thursday, said they take the allegations seriously and will investigate.
Read more: http://trade.cc/gtm

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“I ENJOY BEING AROUND CHILDREN”-DISTURBING 1987 SANDUSKY INTERVIEW

Years before he was arrested for allegedly molesting children, former Penn State assistant coach Jerry Sandusky said he loved being around children and having “a good time with them.”

“I enjoy being around children,” Sandusky said in a 1987 NBC interview made public today. “Their enthusiasm. I just have a good time with them.”

Of course, Sandusky’s comments now have a chilling connotation to them after he was recently arrested for molesting eight boys and charged with 40 counts in connection with a string of sex abuse claims dating back 13 years.

“Everybody needs people to care for them. … Kids are growing up awfully fast these days,” Sandusky said in that same interview when asked about his charity work with troubled kids.

In 1997, ten years after that NBC interview, Sandusky was first accused of showering with and fondling a boy at Penn State.

McQUEARY CONSULTS LAWYER, SANDUSKY CHARITY CEO RESIGNS

No charges were filed at the time and a year later Sandusky retired as an assistant coach to spend more time with his Second Mile charity.

This comes as the president of the charity linked to Sandusky resigned today, saying he hopes his departure after 28 years as the group’s CEO would help restore faith in its mission.

The Second Mile’s board of directors said in a statement it had accepted the resignation of Jack Raykovitz.

Raykovitz, a psychologist, had testified before the grand jury that indicted Sandusky. The grand jury said Sandusky found his victims through the charity’s programs.

The board also said that would conduct an internal investigation to assess policies and make recommendations regarding future operations.

Raykovitz said in a statement that he hopes his resignation would mark the beginning of a “restoration of faith in the community of volunteers and staff” at The Second Mile.

Sandusky founded The Second Mile in 1977. The group has said that its youth programs serve as many as 100,000 children a year.

With AP

Read more: http://trade.cc/gtd

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CLP expands multifamily, shutters office space

The rental boom continues, quietly off everybody’s radar…

BIRMINGHAM, Ala.–(BUSINESS WIRE)– Colonial Properties Trust (NYSE: CLP – News), continued its multifamily focused growth strategy with the acquisition of Colonial Grand at Hebron (formerly Waterford Place), a 312-unit Class A apartment community in Dallas, Texas, for $34.1 million. The company funded the purchase with $23.9 million in proceeds from the sale of Colonial Center Town Park 400, an office asset located in Orlando, Florida, and borrowings on the company’s unsecured credit facility.

Colonial Grand at Hebron is a new multifamily development that was completed earlier this year, and is in lease up with 66% of the units leased upon acquisition. Colonial Center Town Park 400, a 176,000-square-foot Class A office building completed in 2008, was 24% occupied upon disposition.

“The continued execution of our multifamily focused growth strategy has helped us unlock the capital from an underperforming office asset in exchange for a new multifamily asset at an attractive value,” noted Thomas H. Lowder, Chairman and Chief Executive Officer.

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Today’s 52 Week Highs and Lows

NYSE

New Highs 31 

COMPANY                       SYMBOL      HIGH                VOLUME 
-------                       ------      ----                ------ 
AutoZone                      AZO         341.89              53,910 
B&G Foods                     BGS         22.69              140,862 
BlkRk MuniHldgs               MHD         16.47               18,735 
Blkrck MunHl NJ Qlty          MUJ         14.84               23,563 
BlkRk MuniYld Inv             MYF         14.30               11,658 
BlRk Muyld NJ Qlty            MJI         14.69                7,959 
BlkRk MuniYld Qlty II         MQT         13.12                7,692 
Chesapeake Granite Wash       CHKR        19.09              443,689 
Comcast 2% DECS Sprint        CCZ         39.33                  100 
DWS Muni Inco                 KTF         13.21               71,919 
Duff & Phelps                 DNP         10.88              107,402 
FTI Consulting                FCN         43.32               49,718 
GNC Holdings A                GNC         27.19              237,854 
Generac Holdings              GNRC        25.62               64,013 
Heico Corp A                  HEI/A       41.86                  943 
Heico Corp                    HEI         60.92               13,902 
Humana Inc                    HUM         88.46              287,733 
Invesco Insured Mun Tr        IMT         15.30               16,755 
Invesco Mun Prem Inc          PIA         8.25                10,205 
Kenexa                        KNXA        26.10               54,059 
Mastercard                    MA          373.20             252,839 
Myers Industries              MYE         13.38                9,570 
Nalco Holding                 NLC         39.08              181,297 
Nuveen CA Quality Income      NUC         15.39                8,691 
Oneok Inc                     OKE         78.93              250,946 
Opko Health                   OPK         5.66               887,825 
PIMCO MuniFd                  PMF         14.12               25,330 
Sally Beauty Hldgs            SBH         20.55              194,848 
Sunoco Logistics Partners     SXL         106.49              44,401 
TJX Cos                       TJX         61.71              816,759 
TransDigm Group               TDG         99.70               57,231 

New Lows 6 

COMPANY                       SYMBOL      LOW                 VOLUME 
-------                       ------      ----                ------ 
CBIZ                          CBZ         5.79                21,410 
China Mng Yng Wnd Pwr ADS     MY          2.22                84,560 
Furniture Brands              FBN         1.26                46,768 
Putnam Premier                PPT         5.03               443,967 
STRATS Sers 2006-1  P&G . Ser GJR         15.65                1,500 
Xylem Inc.                    XYL         23.50              170,310

NASDAQ

New Highs 28 

COMPANY                       SYMBOL      HIGH                VOLUME 
-------                       ------      ----                ------ 
Adolor                        ADLR        4.74                75,222 
Arabian American Dev          ARSD        6.64                37,268 
Astronics                     ATRO        33.26               23,558 
Cache                         CACH        6.47                10,101 
CommVault Systems             CVLT        48.50              206,089 
Comtech TeleComm              CMTL        34.69               79,177 
Cyanotech                     CYAN        5.68                54,528 
Epoch Hldg                    EPHC        23.10                9,238 
Fastenal Co                   FAST        41.50              351,885 
Golar LNG                     GLNG        42.07              218,858 
Gyrodyne                      GYRO        85.25                1,326 
HMS Hldgs                     HMSY        31.99              286,944 
Intuitive Surgical            ISRG        447.10              78,889 
Manhattan Associates          MANH        45.25               64,617 
Natural Alternatives Intl     NAII        7.11                24,358 
PC Connection                 PCCC        10.88               45,722 
Pizza Inn Holdings            PZZI        6.30               220,547 
Questcor Pharma               QCOR        44.41              396,697 
SPS Commerce                  SPSC        22.16              108,567 
Sourcefire                    FIRE        32.72              109,783 
Spectrum Pharmaceuticals      SPPI        12.35              366,729 
Spreadtrum Comm               SPRD        29.70            1,003,607 
Susser Hldgs                  SUSS        24.76               37,310 
Synageva BioPharma            GEVA        15.84                1,910 
TASER Intl                    TASR        5.78               227,491 
Tractor Supply Co             TSCO        75.37              345,177 
Winmark                       WINA        52.36                5,000 
Zygo                          ZIGO        17.04               38,077 

New Lows 33 

COMPANY                       SYMBOL      LOW                 VOLUME 
-------                       ------      ----                ------ 
ATP Oil & Gas                 ATPG        5.53             3,858,863 
Amyris                        AMRS        11.65               73,542 
ApplEntrgtcs                  AERG        0.09               449,753 
Bon-Ton Stores                BONT        3.65                89,212 
Cadence Pharmaceuticals       CADX        4.05               348,239 
Cardiome Pharma               CRME        2.35                81,656 
China HGS Real Estate         HGSH        0.65                23,218 
Ctripcom Intl                 CTRP        28.30            7,778,685 
Diamond Foods                 DMND        34.93              651,531 
Dunkin' Brands Group          DNKN        24.74              446,958 
eDiets.com                    DIET        0.96                 7,460 
Enzon Pharmaceuticals         ENZN        6.56                43,104 
FNB United                    FNBND       14.51                  300 
Fauquier Bankshares           FBSS        11.34                  200 
Fuwei Films                   FFHL        1.59                38,669 
Hanwha SolarOne Co Ltd        HSOL        1.70               235,013 
Heelys                        HLYS        1.81                 3,298 
Hoku                          HOKU        1.30                33,245 
Indus Svcs Of Amer Inc        IDSA        4.03                80,938 
Myrexis                       MYRX        2.63                55,209 
Ossen Innovation Co ADS       OSN         1.20                 7,450 
Quantum Fuel Sys Techs        QTWW        1.74               131,941 
QuinStreet                    QNST        8.44                52,122 
Siga Technologies             SIGA        2.58               390,281 
SRS Labs                      SRSL        5.64                 6,400 
Savient Pharmaceuticals       SVNT        2.66               268,918 
Security Natl Finl Cl A       SNFCA       1.10                   300 
State Auto Fincl              STFC        11.20               45,985 
TBS Intl  Cl A                TBSI        0.57                12,200 
U S Concrete                  USCR        3.00                19,368 
Utd Security Bancshares       UBFO        2.22                 4,411 
Vermillion                    VRML        1.23                38,098 
Wowjoint Holdings             BWOW        0.61                16,177

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This Morning’s Most active Put/Call Option Trades

-CALLS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
DELL       1/21/12          15.0000        1500            1.2100      dn 0.0500 
BAC        11/19/11          6.0000         535            0.2300      dn 0.1200 
BAC        12/17/11          6.0000         349            0.4800      dn 0.1200 
INTC       1/21/12          25.0000         333            1.1700      up 0.0300 
AAPL       11/19/11        385.0000         304            3.6000      dn 2.4000 
ANF        11/19/11         57.5000         277            1.5800      up 0.0000 
AAPL       11/19/11        390.0000         213            2.0000      dn 1.6500 
BAC        12/17/11          7.0000         208            0.1400      dn 0.0400 
AAPL       11/19/11        400.0000         199            0.4700      dn 0.5200 
EMC        11/19/11         25.0000         180            0.2300      up 0.0100 

 -PUTS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
BAC        11/19/11          6.0000         883            0.1400      dn 0.0100 
AAPL       11/19/11        380.0000         456            5.6000      up 1.1000 
SQNM       1/21/12           5.0000         378            0.9900      dn 0.0700 
GOOG       11/19/11        590.0000         329            1.4000      dn 1.0000 
AAPL       11/19/11        375.0000         237            3.8600      up 0.8100 
MSFT       11/19/11         27.0000         233            0.5200      up 0.0200 
MOS        11/19/11         55.0000         217            0.4700      dn 0.1700 
VALE       11/19/11         25.0000         208            0.3100      dn 0.0300 
GOOG       11/19/11        580.0000         191            0.9500      dn 0.3500 
C          11/19/11         29.0000         165            1.1700      up 0.4600 

 -VOLUME- 
 CALLS      PUTS           TOTAL 
28354    46277        74631
-CALLS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
CSCO       11/19/11         18.0000        3212            1.0400      dn 0.0500 
CSCO       12/17/11         19.0000        3076            0.6200      dn 0.0900 
HD         11/19/11         39.0000        2428            0.4100      up 0.1400 
ESRX       1/21/12          42.5000        2000            6.0000      dn 0.4000 
WFC        1/21/12          29.0000        2000            0.4000      dn 0.0700 
SLE        1/21/12          20.0000        1852            0.3600      up 0.0100 
YHOO       11/19/11         17.0000        1845            0.1300      dn 0.0600 
BG         4/21/12          72.5000        1746            1.2000      up 0.0000 
MSFT       11/19/11         27.0000        1382            0.1700      dn 0.0400 
SWI        12/17/11         32.5000        1381            0.6500      dn 0.2000 

 -PUTS- 
OPTION    EXP.DATE       STRIKE PRC.     VOLUME        LAST S/PRC.    NET CHANGE 
GM         11/19/11         23.0000        5136            0.5200      dn 0.3200 
TXT        1/21/12          20.0000        3239            2.0300      dn 0.1500 
TXT        1/19/13          20.0000        3178            4.1000      dn 0.3000 
BAC        11/19/11          6.0000        2650            0.1400      dn 0.0100 
TSO        11/19/11         27.0000        2614            0.6500      up 0.2500 
GE         11/19/11         16.0000        2373            0.1600      dn 0.0100 
JPM        12/17/11         30.0000        2036            0.8500      up 0.0700 
ESRX       1/21/12          37.5000        2000            0.4500      up 0.0500 
WAG        1/21/12          30.0000        1925            0.8000      up 0.0100 
PFE        1/21/12          17.5000        1911            0.3000      up 0.0400 

 -VOLUME- 
 CALLS      PUTS           TOTAL 
448085    570383        1018468

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Eurozone industrial output fell 2%

Oh goody, this is of course super bullish for oil prices, as now the EU has room to recover. I am sure bullshit production coming out of Costa Rica or someplace will more than suffice to keep demand static in the meantime…

Read here:

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