N. Dakota RNC Committeeman Cory Haugland: The RNC Chooses the Nominee, Not the Voters

This is the most checkered panted dialogue I’ve heard this election cycle, by the GOP. One of their committee members is going to introduce changes to the rules in order to unbind the delegates from the candidates, in order to permit the RNC to cherry pick their preferred candidate over whatever the stupid, uninformed, people selected.

Cory said, “That’s right. Every delegate to the 2016 Republican National Convention is a completely free agent, free to vote for the candidate of their choice on every ballot at the convention in Cleveland in July. Every delegate is a Superdelegate!”

The fuck.

Now hear this smug little fucker during a CNBC interview this morning, saying he doesn’t know why we even bother with primaries, chuckling like a school girl the whole way.

The fix is in.

The establishment does not want D. Trump to be President for a wide variety of reasons, mostly because he’s not beholden to anyone. It’s like a crooked cop taking money from the mob getting mad at the clean cops who want to put them away.

In a novel twist to dismiss the Trump surge, former speaker of the house and permanently tanned, John Boehner, said he will support current speaker, Paul Ryan, as the nominee if the current roster of nominees are unable to secure the required delegates needed to ‘lock in’ the nomination.

In other words, he’s suggesting that if Trump got 1,100 delegates to Cruz’s 500, they’re both losers and don’t deserve to run.

“If we get to the convention and we don’t have a nominee that can win on the first ballot, I’m for none of the above,” he said. “They all had a chance to win. None of them won. So I’m for none of the above. I’m for Paul Ryan to be our nominee.”

This is a very clever establishment tactic.

Bohner regularly refers to T. Cruz as ‘lucifer’ and calls him a ‘jackass’ for being unwilling to work with the other checkered panted hacks.

As for Boehner’s lack of desire to run for the Presidency himself, he offered nothing but wanton depravity as his excuse.

“Being president is like voluntarily climbing into a jail cell and then letting people throw stones at you through the bars,” he said. “I smoke cigarettes, I drink red wine, I play golf, I cut my own grass, I wash and iron my own shirts, and I sure as hell am not giving that up to be president of the United States.”

Trump’s take on a brokered convention:

“If you disenfranchise those people, and you say, ‘I’m sorry, you’re 100 votes short’ … I think you’d have problems like you’ve never seen before. I think bad things would happen.”

I’m so done with this story. Valeant is the hedge fund hotel that checks you in, but doesn’t let you out.

The losses via concentration is both mind boggling and staggering.

Overall, Valeant lost over $12 billion in market cap yesterday, of which over $5 billion belonged to idiot hedge less hedge fund managers.

Ackman’s $12 billion Pershing Square Capital Management and Ubben’s $14 billion ValueAct Holdings, which invest for large clients including state pension funds, are two of Valeant’s largest investors with directors on its board.

Ackman’s fund, Valeant’s third largest investor with 16.5 million shares, lost an estimated $776 million on Tuesday while Ubben’s fund, Valeant’s fourth largest shareholder with 14.9 million shares, lost roughly $701 million. The estimates are based on share counts from the end of December.

At least five smaller hedge funds had tied up 20 percent or more of their capital with the company as of the end of December, according to Symmetric.IO, betting that it could turn its fortunes around.

Brave Warrior Advisors has one quarter of its roughly $3 billion invested with Valeant and lost an estimated $292 million on Tuesday, if its position remained unchanged from the end of December.

At Brahman Capital, which also has more than one quarter of its money invested in Valeant, the losses are estimated at $379.5 million on Tuesday alone, if the fund still owns the 8.1 million shares it reported at the end of December.

Okumus Capital, which added Valeant in the fourth quarter, lost an estimated $87 million on Tuesday, if it still owned the stock. Senzar Asset Management, which also added Valeant in the fourth quarter, lost an estimated $60.7 million. Tyrian Investments, a fund that managed $870 million at the end of December 2014 according to a regulatory filing, lost an estimated $8 million on Tuesday with Valeant.

The biggest scam purported unto the American people over the past decade was born in Silicon Valley, by socially awkward geeks trying to get laid by becoming rich. In order to accomplish this task, they schemed ways to create a Ponzi scheme that overly inflated the valuations of their overvalued, piece of shit social media companies.

This, of course, was helped by the demonically greedy investment bankers who sold this to the investor class. Men like Fred Wilson made hundreds of millions by funding and then dumping these horrible money losing ventures onto an unsuspecting public.

Make no mistake, these are mostly horrible companies, poorly run and unable to survive a hard economy.

This morning, Morgan Stanley offered a mea culpa for getting LinkedIn so wrong, downgrading the stock and cutting the price target to $125.

“With its current product offering, LinkedIn isn’t likely to be as big of a platform as we previously thought,” the team, led by Brian Nowak, said. “We are reducing our price target to $125 [per] share (from $190) as well, driven by our lower long-term cash flow forecasts and increased execution uncertainty.”

“LinkedIn’s ability to re-accelerate Talent Solutions growth and/or deliver better than expected results in B2B advertising, Lynda or Sales Navigator could reinvigorate investors and drive the stock back toward our bull case valuation ($200/share),” the analysts noted. “That said, continued faster than expected deceleration and/or mis-execution will likely cause the stock to be range-bound (best case) or trend toward our bear case valuation ($60/share).”

It’s amazing how so many people vomited over themselves to get back into this name, thinking the worst was over. This companies brand is nearly ruined. To back up my claims are staggering -36% January same store sales and -26% for February.

Consequently, the stock is plunging.

CMG expects Q1 EPS will be a loss of ($1.00) per share or worse, well below the Capital IQ consensus for earnings of $0.06.

Sales: February sales comps improved to (26.1%) from (36.4%) in January. Leap day added an estimated 2.6% to the February comp. Sales comps improved to (24.7%) for the last two weeks of February, excluding the extra leap day, from an average of (33.8%) during the first two weeks of February.

The sales recovery began the week of February 8, 2016, when we launched an aggressive marketing campaign that coincided with our National Team Meeting, to invite customers to dine at Chipotle via a free burrito offer. This sales recovery continued into March, as comparable restaurant sales were (21.5%) during the week ended March 7.

Results the second week of March declined to (27.3%), as they were affected by the temporary closing of a single Boston area restaurant which was the result of our restaurant teams fully following protocols. The restaurant reopened quickly with no customers affected.

Operating margin: Anticipates Q1 restaurant-level operating margin to be in the mid-single digit range.

“During the quarter we will incur higher expenses driven by increased marketing and promotions spend in other operating costs, which are anticipated to be significantly higher in the first half of 2016 compared to historic reporting periods.”

“We also anticipate higher food costs due to additional food safety protocols put into place, as well as higher food costs related to food waste, rejection rates related to high resolution DNA testing, and lower volumes. We have also incurred higher labor costs to ensure we were fully staffed as customers redeemed their free burrito offer.”

“We continue to expect that our margins and earnings potential will fully recover as our sales improve over time, except that we expect our food costs to be higher on an ongoing basis by about 200bps due to the food safety related actions we have taken.”

We were the Saudi Arabia of coal. Now we’re the Venezuela of coal. Thanks almost primarily to the EPA, our once great coal industry is in utter ruin. The best among them, Peabody Energy, warned this morning of bankruptcy and is a going concern.

“As a result of operating losses and negative cash flows from operations and our election to exercise a 30-day grace period with respect to certain interest payments, together with other factors, including the possibility that a covenant default or other event of default could cause certain of our indebtedness to become immediately due and payable (after the expiration of any applicable grace period), we may not have sufficient liquidity to sustain operations and to continue as a going concern.”

“We incurred a substantial loss from operations and had negative cash flows from operating activities for the year ended December 31, 2015. Our current operating plan indicates that we will continue to incur losses from operations and generate negative cash flows from operating activities. These projections and other liquidity risks raise substantial doubt about whether we will meet our obligations as they become due within one year after the date of this report. We have also elected to exercise the 30-day grace period with respect to a $21.1 million semi-annual interest payment due March 15, 2016 on the 6.50% Senior Notes due September 2020 and a $50.0 million semi-annual interest payment due March 15, 2016 on the 10.00% Senior Secured Second Lien Notes due March 2022, as provided for in the indentures governing these notes. Failure to pay these interest amounts on March 15, 2016 is not immediately an event of default under the indentures governing these notes, but would become an event of default if the payment is not made within 30 days of such date. As a result of these factors, as well as the continued uncertainty around global coal fundamentals, the stagnated economic growth of certain major coal-importing nations, and the potential for significant additional regulatory requirements imposed on coal producers, among other matters, there exists substantial doubt whether we will be able to continue as a going concern.”

During today’s amazing Trump acceptance speech, Donald Trump informed America that, if elected, we will win again, a lot. Moreover, everything is going to be great and he’s very happy to meet so many amazing people and do incredible things for the United States.

He also called out the media in the back of the room, calling them ‘some truly disgusting people.’

Also, I loved how he had his campaign manager, Cory something or another, on his right hand side, despite being maligned by said disgusting people in the media for pushing some crazy lady, or something of that order. He truly gives zero fucks.

#winning. #fuckyeah.

The new GOP frontrunner, John Kasich, has sacked Donald Trump.

‘As Ohio goes, so goes the country.’

I cut this shit off after 5 minutes. He had zero Kasich steaks, Kasich magazines or Kasich water, let alone an alarming absence of Kasich Vodka.

Boring.

President J. Kasich has won in his home state of Ohio, beating the disheveled D. Trump by double digits. This was the single state that Trump needed to win, but could not. Therefore, and this goes without saying, inexorably, he’s a yuge loser tonight.

According to the laws of mathematics, Trump is not likely to secure the amount of delegates needed to clinch the GOP candidacy, as the fat fuck state of Ohio has thrusted immeasurable losses upon him.

Should Mitt Romney enter the race to take the polygamist state of Utah from Trump, in order to help broker a convention against Trump in June, Trump’s task is going to be all the more dreadful to become the GOP candidate.

Trump’s speech is forthcoming. I’ll have it recorded and posted at iBankCoin within minutes of its completion.

Granted, like 3 blocks in Illinois are in, thus far. Nevertheless, Trump is laying waste to the vulture face Cruz.

Have a look.

Trump is leading big in Missouri too, 34% to 26% over Cruz.

Lastly, and most importantly, the GOP muppet in Chief, Marco Rubio, has been knocked the fuck out. Moreover, John Kasich is up big in Ohio, effectively legitimizing the path to stealing the nomination from Trump at the GOP convention.