_________________

Carol Bartz, who was fired as chief executive of Yahoo Inc last week, has resigned from the company’s board of directors.

“On September 9, 2011, Carol Bartz resigned from the board of directors of Yahoo! Inc., effective immediately,” Charles Sipkins, a spokesperson for the board wrote in an e-mail on Sunday.

The news was first reported on Sunday in The Wall Street Journal.

Bartz was abruptly fired from her job as CEO on Tuesday. She had said that she planned to remain on the Internet company’s board of directors, a statement that conflicted with that of a company spokesman who said Bartz would have to give up her board seat.

After being fired, Bartz gave an inflammatory interview to Fortune magazine in which she characterized Yahoo’s board as “doofuses” who “fucked me over”.

SOURCE

Comments »

Protesters set fire to the U.S. flag outside the American embassy in London yesterday during a minute’s silence to mark the moment the first hijacked airliner hit the World Trade Centre.

A group of 100 Muslim radicals, including members of Muslims Against Crusades, shouted ‘USA  terrorists’ and brandished anti-American placards.

One protester in Grosvenor Square said: ‘You will always face suffering, you will always face humiliation, unless you withdraw your troops from Muslim lands.’

A small group of Muslims staged a counter-demonstration nearby, holding up placards reading ‘Muslims Against Extremism’ and ‘If You Want Sharia, Move To Saudi’.

Abdul Sallam, 41, who was waving a sign that read ‘Keep The Silence’, travelled down to London from his home in Glasgow to show the strength of his feelings.

 

He said: ‘I’m a Muslim. What they’re doing is bringing shame on all Muslims.This is not part of the teachings of Islam.

‘Islam is all about peace, but what they want to do is hate other people.

 

 

‘Islam teaches you that when you see anything bad or evil, you should speak out against it.

‘If the moderate Muslims all came out and spoke out, that would defeat them.

‘I am proud to be British. I love my country. All these people are doing is breaking Britain apart.’

Earlier, a group of English Defence League protesters were ordered to move on to accommodate the anti-American demonstration.

The 60-strong group briefly scuffled with police as they were forced away from their original location to a different part of Grosvenor Square.

Twenty people were arrested for breach of the peace as the group was dispersed towards Oxford Street.

And at least four more arrests were made as police escorted the Muslim group back towards the Central London Mosque in Regents Park.

 

 

One of the guests at the Grosvenor Square memorial service said the protesters should be stopped from standing just across the road from the embassy and using a loud megaphone.

The man, whose cousin died in the terror attacks, added: ‘They shouldn’t be allowed to do it. It’s very disrespectful. It’s too loud.’

He added: ‘They can say what they want but not with the loudspeaker. They shouldn’t obstruct the service.’

 

Comments »

So the S&P failed again at the 30 day moving average yesterday. We briefly jumped to 1204, but fell back to close lower on the day. For the plebs sake I was hoping a better than expected initial claims would help us with some follow through trying to produce a 3rd higher high.

The 30 moving average now stands at 1187 and is dropping like a stone.

It would have been nice to see a close above 1161 today; not that it is a crucial level, but that it represents an average price from which one could have some hopes for a rally.

The only thing the bulls have going for them is that the volume was not explosive to the downside today and that we did not close on the absolute lows of the day.

At any rate, this market is beyond technical analysis for the moment. I believe this to be the case as we can not know how good or bad it gets across the pond.

IMO Greece will have to default very soon. Today’s bond auction for Greece was pitiful. They only raised $3-$4 billion of the $9+ billion needed for short term paper. I do not have to discuss yields with you as you know they have blown out to insane levels.

Of course the Greek finance minster came out to reassure the market place that there would be not immediate default, but if the clam can lie and tell us things are contained, that the mortgage problem will not spread to the broader economy then I’m sure some feta cheese eating minister can tell us that everything is a okay.

Interbank lending in Europe has all but halted to a crawl. Expect a frozen market shortly.

All in all debt problems can not be solved with more debt. Especially in a region where there are no real printing presses for currency; such as we have here with the clam and criminal company.

Even if some miracle occurs for Greece we still have many PIIGS to worry about.

Expect a major down draft soon. Keep the powder dry as we should have a great buying opportunity coming up in the next two weeks of trade.

Also remember that this is now a trading environment. Your on the other side of the mountain. It shall remain so for perhaps a few years imo.

This is due to the weak consumer getting weaker, a tragedy called government, and the PIIGS problem is not going to go away for at least 2 years.

GLT

Hey Greece Manamana….

[youtube:http://www.youtube.com/watch?v=ntNju2D4dIU 450 300] [youtube:http://www.youtube.com/watch?v=9Mjp8ox59WE 450 300]

 

 

 

Comments »

[youtube:http://www.youtube.com/watch?v=5Y63JZC3Snk 603 500]

Comments »

September 5th, 2011 by Roy W. Spencer, Ph. D.

One of the most annoying things about the climate change debate is that any regional weather event is blamed on humans, if even only partly. Such unscientific claims cannot be supported by data — they are little more than ambiguous statements of faith.

The current “exceptional” Texas drought is no exception. People seem to have short memories…especially if they were born after most of the major climate events of the past occurred.

Andy Dessler recently made what I’m sure he thought was a safe claim when faulting Texas Gov. Rick Perry for being “cavalier about climate change” (as if we could stop climate from changing by being concerned about it).

Dessler said, “..warming has almost certainly made the (Texas) heat wave and drought more extreme than it would otherwise have been.”

This clever tactic of claiming near-certainty of at least SOME effect of humans on weather events was originally invented by NASA’s James Hansen in his 1988 Senate testimony for Al Gore, an event that became the turning point for raising public awareness of “global warming” (oops, I’m sorry, I mean climate change).

The trouble is that climate change theory predicts changes, up and down, in just about anything you can imagine. So, anything unusual that happens anywhere, anytime, is deemed “consistent” with global warming.

But this tactic can work both ways — a specific drought might have instead been made LESS severe by the general tendency toward MORE rainfall, which is a much more robust prediction of the climate models with warming.

For example, let’s look at June-July total rainfall over the whole contiguous U.S. — which is only 1.6% of the Earth’s surface — over the last 100+ years (August data are not yet posted at NCDC):

To read the rest (including some great chart porn) go here.

Comments »

What will it be ? People are protesting against austerity and bailouts globally. Will it come here to the extent we have seen around the world ?

More importantly, do those objecting really understand a fiat currency system ?

Not a bed time  story for glass half full type personalities.

An op-ed on social unrest, bailouts,  and the overall burning of Rome 2.0  

Not interested in the above….Nikkei Just bounced out of negative territory

 

Comments »

Every one wins and loses ….no ?

Comments »

If you don’t know about it then sadly you must be shook from your coma induced life.

Join the club 

[youtube:http://www.youtube.com/watch?v=hAwr-LUwh_I&feature=related 450 300]

 

Comments »

Comments »

Switzerland takes first place for the third year in a row.

Comments »

Con

Pro

Comments »

Right now the FHFA is questioning $549 million and that GE is on the hook for $66 million in principal 

Comments »

Co announced that Deer is fully aware of the latest desperate short seller attacks on Deer on Sept 6, 2011, including another publication of the same old lies by a fictitious figure “Alfred Little,” including totally fabricated information, false identities, and false allegations against the co. Deer has repeatedly filed relevant land acquisition related documents with the Securities and Exchange Commission (SEC), and Deer stands by the accuracy of its public filings. Deer is not aware of any negative development with its business and is conducting its normal course of business. Deer also notes the short seller “Alfred Little’s” attempt to link Deer to a heavily shorted and unrelated co, Harbin Electric (HRBN) whose management team has announced a going private transaction at $24 per share in cash, with a shareholder voting record date of Sept 13, 2011, and advised by Goldman Sachs, Morgan Stanley and Lazard Freres & Co., as well as represented by several global law firms.On March 28, 2011, Deer filed suit against short sellers and certain bloggers including “Alfred Little,” a now-admitted fictitious figure, alleging an orchestrated scheme to manipulate and depress Deer’s stock. Since then, “Alfred Little” has failed to answer the complaint, changed his identity from a real person to a web-site, and attempted to extort the company by threatening to publish more false defamatory reports until the company dropped its claims against these defendants. On August 29, 2011, the New York Supreme Court granted Deer’s motion to serve “Alfred Little” with the summons and complaint in the New York Litigation by e-mail and “Alfred Little” was served the following day. A default judgment may be granted against “Alfred Little” if this defendant does not show up in court. As of Q2/2011, Deer had shareholders’ equity of ~$157 mln and more than $22 mln in cash and cash equivalents without any long-term debts. Deer has sufficient cash on hand and has no plan to dilute its shareholders. Deer also affirms previous issued 2011 financial guidance and dividend policy. Deer has made numerous filings with the SEC on Forms 10-K, 10-Q and 8-K disclosing its land use rights in the Anhui Province of China. Despite recent claims of certain bloggers, who Deer believes to represent the interests of short sellers, Deer confirms that its disclosures in such filings were accurate, complete and reflect the commitment of management to provide the public with full and fair disclosure.

Comments »

BREAKING NEWS: Groupon cancels IPO roadshow set for next week, reevaluating plans due to market volatility: report

SOURCE: Reuters.com

Comments »

Event Horizon

Comments »

This is a crazy story for sure

Comments »

Dollars absconded with again by the State Department this time….

Comments »

You can’t keep mother nature down for ever. She is the master of chemical warfare…

Comments »

100% TZA from Friday morning….crazy but that is how i roll 

[youtube:http://www.youtube.com/watch?v=0UjsXo9l6I8&feature=related 450 300]

 

Comments »

Poof your dead 

Comments »