Saturday, December 28, 2013

Thursday, December 26, 2013

EEMC

EEMC

Corruption Scandal Is Edging Near Turkish Premier

Corruption Scandal Is Edging Near Turkish Premier

But the words from one of the departing ministers were considered stunning, coming from a political party known for silencing dissent. That instantly raised the significance of the entire inquiry and left members of the Turkish public wondering if they were witnessing the collapse of their Islamist-rooted government of the last decade.
“Now it seems the situation has changed completely,” said Kerem Oktem, a Turkey expert and research fellow at the European Studies Center at the University of Oxford. “It seems the ring around Erdogan has gotten tighter.”
Later, as a dramatic day came to a close, Mr. Erdogan emerged from a meeting with President Abdullah Gul in Ankara, the Turkish capital, and announced that seven other ministers would leave his cabinet, some of whom are departing as part of a long-planned shuffle so that they can run for mayors in coming elections. One of the late-night departures included the European Union minister, who has been implicated in the corruption investigation.
The investigation became public a week ago with dawn police raids on the offices of businessmen and others close to the prime minister. But Wednesday was the first time that someone who had been in Mr. Erdogan’s hierarchy — a confidant, no less — left the strong implication of the prime minister’s entanglements in some of the real estate deals at the heart of the case.
The crisis strikes a sharp contrast to the image that Turkey has projected as an exemplar of a prosperous, Muslim-majority country based on democratic principles. A NATO member, Turkey has been embraced by the United States and Europe as a force for stability in the tumultuous Middle East, and the country has sought to play an important role in shaping the outcome of crises in Syria, Egypt and with Iran’s nuclear program. With Mr. Erdogan now preoccupied with political survival, Turkey’s role in the region and its relationship with the West are in question.
The corruption inquiry has targeted the ministers’ sons, a major construction tycoon with links to Mr. Erdogan and municipal workers, and it centers in part on allegations that officials received bribes in exchange for ignoring zoning rules and approving contentious development projects. No one has been convicted, but the issue has struck a nerve among the Turkish public, especially Istanbul residents. They have become increasingly resentful over the dizzying pace of development and riches amassed by a new, pious economic elite, with a strong hand in the construction industry, which rose to power alongside Mr. Erdogan and his associates.

Wednesday, December 18, 2013

Robinhood gets $3M to take from Wall St. and give to Main St. with its mobile-first, zero-commission brokerage

Robinhood gets $3M to take from Wall St. and give to Main St. with its mobile-first, zero-commission brokerage

Gold town turns to dust as metal declines

Gold town turns to dust as metal declines

Israeli RE at Record Highs

Israeli RE at Record Highs

Orange Capital, LLC Urges Immediate Sale of Strategic Hotels & Resorts in Letter sent to the Board of Directors

Orange Capital, LLC Urges Immediate Sale of Strategic Hotels & Resorts in Letter sent to the Board of Directors

Orange Capital Hotels

Orange Capital Hotels

RRC Update Very Positive, Says Wells Fargo

RRC Update Very Positive, Says Wells Fargo

Former no 2 on Feds says he would wait to taper

Former no 2 on Feds says he would wait to taper

During the financial crisis, Mr. Kohn was a key adviser to Fed Chairman Ben Bernanke as they navigated the depths of the worst recession in generations. Many critics blame Fed officials for not foreseeing the meltdown, but economists generally give them credit for an aggressive response that many believe prevented another depression.
Since taking interest rates to effectively zero in December 2008, the Fed has more than quadrupled its balance sheet to $3.9 trillion.

wisdom of the crowds is often wrong

wisdom of the crowds is often wrong

Tuesday, December 10, 2013

24th annual oppenheimer healthcare conference Tonix Pharama Presentation PDF

24th annual oppenheimer healthcare conference Tonix Pharama Presentation

Dr. Saks is the co-founder and CEO of Jazz Pharmaceuticals & on Board of Tonix

Dr. Saks is the co-founder and CEO of Jazz Pharmaceuticals & on Board of Tonix

South Africa’s Black Economic Empowerment Program has Failed

South Africa’s Black Economic Empowerment Program has Failed

China’s Industrial Production Slows as Retail Sales Pick Up

China’s Industrial Production Slows as Retail Sales Pick Up

China’s industrial output rose less than estimated in November while retail sales unexpectedly accelerated, giving a mixed picture of growth as leaders gather in Beijing to set economic policies for the coming year.
Factory production rose 10 percent from a year earlier, the National Bureau of Statistics said in Beijing today, compared with analysts’ median projection of 10.1 percent in a Bloomberg survey.Retail sales advanced 13.7 percent, while fixed-asset investment excluding rural households showed a slowdown.
The latest data failed to match the strength of export numbers released this week, muddying the outlook for the world’s second-biggest economy just as Chinese leaders meet to discuss targets including next year’s growth goal. Central bank data on loans, credit and money supply due as soon as today will be the final key readings for November.
“A modest slowdown in investment and industrial production may lead to a little softening of growth in the coming months,” said Gao Shanwen, Beijing-based chief economist with Essence Securities, a Chinese government-backed brokerage. At the same time, the indicators show China’s economy is generally stable, he said.

$GM should be selling over 3 million vehicles in China this year in total

$GM should be selling over 3 million vehicles in China this year in total

This Canadian city could be the next Detroit

This Canadian city could be the next Detroit

Tonix Pharmaceuticals

Tonix Pharmaceuticals

$CELG Who is Ernest Mario? On board of Celgene, former CEO of $GSK and on BOD of $TNXP

$CELG Who is Ernest Mario? On board of Celgene, former CEO of $GSK and on BOD of $TNXP 

Monday, December 9, 2013

Icahn December 2013 Full Presentation $IEP $HLF $NFLX $NUAN $CVR $JCP

Icahn December 2013 Full Presentation $IEP $HLF $NFLX $NUAN $CVR $JCP

Takeaway: Icahn may use future funds raised to increase stakes in Herbalife and Nuance.

Solars getting pounded

Engine Capital

Engine Capital

$DVA Crosses 200 DMA

$DVA Crosses 200 DMA

According to CFTC, hedge funds are the least bullish on gold since 2007. The net-long position in gold fell 16% to 26,774 futures and options in the week ending December the 3rd. Short bets rose 6.2% to 79,631. Net-bullish wagers across 18 U.S. traded commodities climbed to a four week high.

According to CFTC, hedge funds are the least bullish on gold since 2007. The net-long position in gold fell 16% to 26,774 futures and options in the week ending December the 3rd. Short bets rose 6.2% to 79,631. Net-bullish wagers across 18 U.S. traded commodities climbed to a four week high.

"Great minds discuss ideas; average minds discuss events; small minds discuss people." - Eleanor Roosevelt

"Great minds discuss ideas; average minds discuss events; small minds discuss people." - Eleanor Roosevelt

Over the past 25 years, the S&P has risen an average of 2.4 percent over November and December, which is nothing to sneeze at. But in the 12 years since 1929 when the market has already rallied over 20 percent over the first 10 months of the year, the market has risen an impressive 4.8 percent on average.

Over the past 25 years, the S&P has risen an average of 2.4 percent over November and December, which is nothing to sneeze at. But in the 12 years since 1929 when the market has already rallied over 20 percent over the first 10 months of the year, the market has risen an impressive 4.8 percent on average.

Sunday, December 8, 2013

Improving economy: Is it for real?

Improving economy: Is it for real?

Can you fault Americans for being skeptical, this time around?
Several recent reports have given a lot of reason to feel optimistic about the economy.
At 7%, the unemployment rate is now at its lowest level in five years. The housing sector -- which got us into this mess in the first place -- is bouncing back.Home sales and prices are rising and permits for new home construction are back to 2007 levels.
Auto sales recently had their strongest growth since 2006. Gas prices have fallen dramatically this year, and stocks are up 26%.
Then why doesn't it feel all that rosy out there?
CNN poll released last week showed only 24% of the public believe economic conditions are improving, while nearly four-in-ten say the nation's economy is actually getting worse. Meanwhile, the Consumer Confidence Index, calculated by the Conference Board, has declined two months in a row.
The economy still feels depressing because for many people, it is, said Elise Gould, a labor economist at the liberal-leaning Economic Policy Institute.
"Those at the very top have bounced back, but we have not seen that for people at the middle or at the bottom," she said.
Stocks may be rising, but only half of Americans actually own them. Sure, companies are flush with cash, but workers' wages are up only about 1% from a year ago, after accounting for inflation. Union-led strikes by fast-food workers are on the rise.
Then there are those who still cannot find work: About 11 million Americans remain unemployed, and 37% of them have been out of a job for at least six months.

Arab Spring accounts for less then one-tenth of Dubai property boom

Arab Spring accounts for less then one-tenth of Dubai property boom

Friday, December 6, 2013

Paulson Sinoforest Flaw

Paulson Sinoforest Flaw

Icahn’s Next Move: Break-Up Or Outright Sale of Nuance

Icahn’s Next Move: Break-Up Or Outright Sale of Nuance

Icahn’s next move

On the other hand, Daniel Ives, analyst at FBR Capital Markets in New York speculated that Icahn’s next movemight include pushing for a new chief executive officer, breaking up the businesses, or an outright sale of Nuance Communications Inc. (NASDAQ:NUAN). Ives said, “Given the fundamental weakness of Nuance over the past few quarters, we believe Icahn has many potential scenarios.”

Bitcoin Gets Valued: Bank Of America Puts A Price Target On The Virtual Tender (then crashes)!

Bitcoin Gets Valued: Bank Of America Puts A Price Target On The Virtual Tender (then crashes)!

Santa Monica Mountains Cabin Comes With Three Mine Shafts Owner Dug To Find Buried Spanish Gold

Santa Monica Mountains Cabin Comes With Three Mine Shafts Owner Dug To Find Buried Spanish Gold

Fund manager: GM 40% Upside

Fund manager: GM 40% Upside

Gold Bearish Outlook Extended as Price Nears $1,200: Commodities

Gold Bearish Outlook Extended as Price Nears $1,200: Commodities

Gold analysts are bearish for a third week, the longest stretch since February 2010, as prices approach $1,200 an ounce and a stronger U.S. economy improves the chance that the Federal Reserve will reduce fiscal stimulus.
Sixteen analysts surveyed by Bloomberg News expect gold to fall next week, 11 are bullish and two neutral. Prices tumbled 26 percent this year, heading for the first annual drop in 13 years and the biggest in more than three decades. Bullion last traded below $1,200 on June 28.
Investors cut holdings in exchange-traded products backed by gold every month this year as prices tumbled, erasing $69.4 billion. Some lost faith in the metal as a store of value as inflation failed to accelerate, while equities and the dollar rallied. This week’s reports of gains in U.S. home sales and manufacturing signaled the Federal Reserve may start easing economic stimulus that helped send gold to a record in 2011.

Carl Icahn Is Bullish on Nuance Communications Inc. (NUAN) & Increases Stake to 18.7%

Carl Icahn Is Bullish on Nuance Communications Inc. (NUAN) & Increases Stake to 18.7% 


Will GM Pay a Dividend Soon? $gm $f $tsla

Will GM Pay a Dividend Soon? $gm $f $tsla

Breaking: JOBS NUMBER BEATS — UNEMPLOYMENT RATE PLUNGES TO 7%

Breaking: JOBS NUMBER BEATS — UNEMPLOYMENT RATE PLUNGES TO 7% 

Thursday, December 5, 2013

Rob Henderson, chief economist for markets at National Australia Bank, agreed most trends were consistent with an imminent taper.

Rob Henderson, chief economist for markets at National Australia Bank, agreed most trends were consistent with an imminent taper. “If you look at global markets they’re certainly beginning to price in the Fed beginning to taper,” he said. “Given the data we’ve seen out of the US with strong manufacturing indexes, good employment numbers, it seems like the economy’s telling them we don’t need all this stimulus.” Foreign exchange and rates markets, for example, are both motivated by a mutual belief that policy change is around the corner. Upward movements in US government bond yields “must mean a higher US dollar ... clearly you’re at the start of a set of circumstances which would put pressure on the Australian dollar”, Mr Henderson said. The Reserve Bank of Australia’s “fairly persistent” jawboning strategy had dealt a further blow to the currency over the past month; it was fetching US90.60¢ shortly after 1pm AEDT, trading slightly lower. Mr Henderson suggested the Fed could accompany any tapering announcement with an equally dovish concession around the employment conditions linked to the Fed funds rate by reducing the unemployment threshold that stands at 6.5 per cent. “That might mean that the reaction is quite muted when it happens,” he said.

Good jobs news can be bad news for the market

Good jobs news can be bad news for the market

November's employment report could be good news for the economy but bad news for stocks.
Economists expect to see about 180,000 jobs added in November, off from October's 204,000 level, and the unemployment rate a 10th lower at 7.2 percent.
Traders, however, are discussing higher whisper numbers well above 200,000, and that has been weighing on stocks and sending bond yields higher on speculation a strong number would speed up the timetable on the Fed's wind-down of its quantitative easing program.

China Bans Financial Companies From Bitcoin Transactions

China Bans Financial Companies From Bitcoin Transactions

China’s central bank barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country.
Bitcoin plunged more than 20 percent to below $1,000 on the BitStamp Internet exchange after the People’s Bank of China said it isn’t a currency with “real meaning” and doesn’t have the same legal status. The public is free to participate in Internet transactions provided they take on the risk themselves, it said.
The ban reflects concern about the risk the digital currency may pose to China’s capital controls and financial stability after a surge in trading this year made the country the world’s biggest trader of Bitcoin, according to exchange operator BTC China. Bitcoin’s price jumped more than ninefold in the past two months alone, prompting former Federal Reserve Chairman Alan Greenspan to call it a “bubble.”
“The concern is that it interferes with normal monetary policy operation,” said Hao Hong, head of China research at Bocom International Holdings Co. in Hong Kong. “It represents an unofficial leakage to the current monetary system and trades globally. It is difficult to regulate and could be used for money laundering. I think the central bank is right to make this move.”
Bitcoin prices plunged to $875 at 6:02 p.m. Shanghai time on BitStamp, an Internet-based exchange where the currency is traded for dollars, euros and other currencies. They closed at a record high of $1,132.01 yesterday. On the Mt.Gox exchange, the currency traded at $901, down from today’s high of $1,240. Prices dropped to as low as 4,521.1 yuan on BTC China, after rising as high as 7,050 yuan.

“Never test the depth of the river with both the feet”. - Warren Buffett

 “Never test the depth of the river with both the feet”.
 
Do not use all of your resources in gambling on a certain investment or else you’ll lose everything. Only a considerable portion of your resources should be put on a gamble. By saying considerable portion, I mean the amount of money you are willing to take the risk of losing.

Google Puts Money on Robots, Using the Man Behind Android

Google Puts Money on Robots, Using the Man Behind Android
Over the last half-year, Google has quietly acquired seven technology companies in an effort to create a new generation of robots. And the engineer heading the effort is Andy Rubin, the man who built Google’s Android software into the world’s dominant force in smartphones.
The company is tight-lipped about its specific plans, but the scale of the investment, which has not been previously disclosed, indicates that this is no cute science project.
At least for now, Google’s robotics effort is not something aimed at consumers. Instead, the company’s expected targets are in manufacturing — like electronics assembly, which is now largely manual — and competing with companies like Amazon in retailing, according to several people with specific knowledge of the project.
A realistic case, according to several specialists, would be automating portions of an existing supply chain that stretches from a factory floor to the companies that ship and deliver goods to a consumer’s doorstep.
“The opportunity is massive,” said Andrew McAfee, a principal research scientist at the M.I.T. Center for Digital Business. “There are still people who walk around in factories and pick things up in distribution centers and work in the back rooms of grocery stores.”
Google has recently started experimenting with package delivery in urban areas with its Google Shopping service, and it could try to automate portions of that system. The shopping service, available in a few locations like San Francisco, is already making home deliveries for companies like Target, Walgreens and American Eagle Outfitters.
Perhaps someday, there will be automated delivery to the doorstep, which for now is dependent on humans.
“Like any moonshot, you have to think of time as a factor,” Mr. Rubin said. “We need enough runway and a 10-year vision.”
Mr. Rubin, the 50-year-old Google executive in charge of the new effort, began his engineering career in robotics and has long had a well-known passion for building intelligent machines. Before joining Apple Computer, where he initially worked as a manufacturing engineer in the 1990s, he worked for the German manufacturing company Carl Zeiss as a robotics engineer.
“I have a history of making my hobbies into a career,” Mr. Rubin said in a telephone interview. “This is the world’s greatest job. Being an engineer and a tinkerer, you start thinking about what you would want to build for yourself.”
He used the example of a windshield wiper that has enough “intelligence” to operate when it rains, without human intervention, as a model for the kind of systems he is trying to create. That is consistent with a vision put forward by the Google co-founder Larry Page, who has argued that technology should be deployed wherever possible to free humans from drudgery and repetitive tasks.
The veteran of a number of previous Silicon Valley start-up efforts and twice a chief executive, Mr. Rubin said he had pondered the possibility of a commercial effort in robotics for more than a decade. He has only recently come to think that a range of technologies have matured to the point where new kinds of automated systems can be commercialized.

Chinese Central Bank Bans Bitcoin Transactions

Chinese Central Bank Bans Bitcoin Transactions

Saturday, November 30, 2013

Salesforce case can deliver $100-250 million per year to $dss (about $2-4PPS for few years) $crm $fb $aapl $lnkd

Salesforce case can deliver $100-250 million per year to $dss (about $2-4PPS for few years) $crm $fb $aapl $lnkd

Most of us are experts at solving other people’s problems, but we generally solve them in terms of our own and the advice we give is seldom for other people but for ourselves. - Nan Fairbrother, The House in the Country

Most of us are experts at solving other people’s problems, but we generally solve them in terms of our own and the advice we give is seldom for other people but for ourselves.
- Nan Fairbrother, The House in the Country

Frugal Seattle man leaves $188M secret fortune

Frugal Seattle man leaves $188M secret fortune

The hospital's research center will receive the largest portion of a $188 million charitable trust left by Jack MacDonald, who died at the age of 98 after decades of secret philanthropy, reports the Seattle Times.
Only a select few family and friends knew that the bargain-hunting man who lived simply in a retirement home had spent more than 60 years using his incredible skill for picking stocks to turn the nest egg his parents left him into a huge legacy for charity.

Thursday, November 28, 2013

Dss an operating entity $dss $aapl

Dss an operating entity $dss $aapl

CNBC Core Viewership Drops To Fresh Two Decade Low In November, Lowest Since 1993

CNBC Core Viewership Drops To Fresh Two Decade Low In November, Lowest Since 1993

Bitcoin’s skyrocketing value ushers in era of $1 million hacker heists

Bitcoin’s skyrocketing value ushers in era of $1 million hacker heists

RISK ASSESSMENT SECURITY & HACKTIVISM

Bitcoin’s skyrocketing value ushers in era of $1 million hacker heists

At least three Bitcoin exchanges report high-stakes robberies this month.

A company billing itself as one of Europe's biggest Bitcoin exchanges said it suffered a coordinated attack that succeeded in stealing almost $1 million worth of the digital currency, marking the latest in a string of high-stakes heists hitting companies that hold large sums online.
Kris Henriksen, CEO of Denmark-based Bitcoin Internet Payment Services (BIPS), made that claim last week in a Web post that said the attack began as a distributed denial-of-service (DDoS) attack. Two days later, Henriksen said, the same attackers targeted the BIPS network again and managed to use the damage they previously inflicted to somehow tamper with the channel that connects BIPS data storage systems to company servers.
"On November 15, BIPS was the target of a massive DDoS attack, which is now believed to have been the initial preparation for a subsequent attack on November 17 that overloaded our managed switches and disconnected the iSCSI connection to the SAN on BIPS servers," the CEO wrote. "Regrettably, despite several layers of protection, the attack caused vulnerability to the system, which has then enabled the attacker/s to gain access and compromise several wallets."
The missing funds totaled 1,295 BTC, or about $1 million, according to a post on Coindesk, which cited this block in the official Bitcoin ledger. BIPS quickly closed its Bitcoin wallet service for consumers after discovering the theft. It advised existing users to transfer their bitcoins to competing wallet services and pledged to notify all users affected by the security breach.
The BIPS attack is at least the third major heist to hit Bitcoin services this month. In early November, the founder of Australia-based inputs.io said the service was robbed of 4,100 bitcoins—valued at about $1.2 million—in two separate attacks. China-based Bitcoin exchange GBL reportedly vanished with $4.1 million worth of customers' digital currency. Another Chinese exchange, BTC China, has also sustained massive DDoS attacks that are costing it dearly, according to an article published Tuesday by Wired.
Bitcoin heists that use malware, social engineering, or hacks to steal huge numbers of bitcoins are by no means new. But given the recent surge in the value of the digital currency, the proceeds of such attacks have mushroomed. Large-scale attacks that previously generated revenue measured in thetens of thousands or hundreds of thousands of dollars are now worth millions.

Apple sued by DSS: PCWorld (Mainstream media coverage)

Apple sued by DSS: PCWorld (Mainstream media coverage)

Saturday, November 23, 2013

Dear "5.4 Star" Tesla, Tone Down Hyperbolic Hype, Love NHTSA

Dear "5.4 Star" Tesla, Tone Down Hyperbolic Hype, Love NHTSA

Encapsulating all that is wrong with the raise-your-stock-price-by-hyperbole-alone strategy of most new 'tech' firms, Tesla's recent claim of a "5.4 Stars - out of 5" safety rating from the National Highway Traffic Safety Administration (NHTSA) perhaps takes the biscuit. But as Jalopnik reports, the NHTSA is not standing for the lies anymore and has issues a statement explaining to car-makers that NHTSA does not award higher than a 5-star rating - advertisers should avoid "double" 5-star rating, numbers greater than 5, and using the terms "perfect," "safest," "flawless" or "best in class" are misleading. What will Elon Musk do now?

Africa startups thrive despite challenges

Africa startups thrive despite challenges

Insight: African tech startups aim to power growing economies

Insight: African tech startups aim to power growing economies

Thursday, November 21, 2013

Tesla is constantly misleading public on ratings of cars: NHTSA

Tesla is constantly misleading public on ratings of cars: NHTSA

Over the summer, Tesla tried to create a new safety ratings system for its Model S sedan. In case you missed it, the automaker issued a press release that said:
NHTSA does not publish a star rating above 5, however safety levels better than 5 stars are captured in the overall Vehicle Safety Score (VSS) provided to manufacturers, where the Model S achieved a new combined record of 5.4 stars.
Now in fairness, the Model S did perform very well -- in fact, it broke some of the National Highway Traffic Safety Administration's equipment during the testing process.

But NHTSA wasn't down with Tesla's creative math -- not by a long shot. In fact, it did everything but send CEO Elon Musk a cease-and-desist letter taped to a horse's head. In a statement, the agency said that it has plenty of guidelines for advertisers who want to tout their safety scores, and for Tesla to create a completely fictitious "5.4" rating was a direct violation of those rules.
And now, to drive that point home, NHTSA has published a new, stricter set of rules aimed at whippersnappers like Tesla. In a press release, the agency says:
The updated guidelines now explicitly state that ratings are always whole numbers and that NHTSA does not award a rating higher than 5 stars. Manufacturers or advertising agencies, therefore, should not advertise ratings with decimal points or ratings over 5 stars, and advertisers who claim more than 5 stars are misleading the public. The guidelines also clarify that advanced technologies are not part of the star ratings. Advertisements that do not conform to these guidelines may result in "Buyer Alert" warnings, removal from the ratings program or referral to other federal or state authorities for appropriate action.
Which can be paraphrased thusly (read it in your best schoolmarm voice): "Apparently, some of you can't be trusted with a calculator (gives Elon Musk the side-eye), so we're clarifying our penalties for bad math. The next time someone feels the urge to get inventive with mathematics, we'll send the entire class to detention for a month." 

Norway Wealth Fund Joins Axa Unit to Purchase Munich’s SZ Tower

Norway Wealth Fund Joins Axa Unit to Purchase Munich’s SZ Tower

Meet Cara Goldenberg: The Canny Young Hedge Funder Who Dazzled Warren Buffett With One Christmas Note

Meet Cara Goldenberg: The Canny Young Hedge Funder Who Dazzled Warren Buffett With One Christmas Note 

Wednesday, November 20, 2013

African Dawn Capital in talks to acquire Knife Capital

African Dawn Capital in talks to acquire Knife Capital

Funniest TV Game Show Moments Video

Funniest TV Game Show Moments


If Bitcoin Is So Secure, Why Have There Been Dozens of Bitcoin Bank Robberies And Millions In Losses?

If Bitcoin Is So Secure, Why Have There Been Dozens of Bitcoin Bank Robberies And Millions In Losses? 

Are There Cockroaches Under Tesla’s Hood?

Are There Cockroaches Under Tesla’s Hood?

Tesla Motors Inc. shareholders have had much to fret about lately, from a nosebleed valuation and sagging stock price to periodic YouTube videos of exploding Tesla electric cars. Here’s another one for the list: Sometimes Tesla acts like it doesn’t know what it’s doing when it comes to financial reporting.
Consider Tesla’s news release last week disclosing its third-quarter financial results. The headline said Tesla had “Net income (non-GAAP) of $16 million.” Tesla spent parts of the first three pages discussing this and other nonstandard metrics that don’t comply with generally accepted accounting principles.
It wasn’t until the bottom of the third page that Tesla began citing its GAAP quarterly results. Tesla waited until page four to mention that it had a third-quarter net loss of $38 million under GAAP. It didn’t show a table reconciling its GAAP and non-GAAP numbers until several pages later.
That practice of accentuating the positive and downplaying the negative seems to fly in the face of Securities and Exchange Commission rules that say companies must give “equal or greater prominence” to GAAP numbers when they present their financial results. The SEC passed those rules a decade ago in response to widespread abuses of non-GAAP measurements. The regulations apply to companies’ regular SEC filings, as well as earnings releases that companies furnish to the SEC as exhibits.
“We comply fully with all legal obligations regarding each earnings release and 10Q,” Tesla spokeswoman Elizabeth Jarvis-Shean said in an e-mail. When I asked her to explain how the presentation in last week’s release complied with the SEC’s rules, she declined.

Revenue Boost

To make sure I wasn’t missing something, I asked Dan Mahoney, who heads the accounting-research firm CFRA in New York, to review Tesla’s release. He reached the same conclusion I did. “Page three is less prominent than page one,” as he put it. “The number-one thing is that the headlines have the non-GAAP numbers and not the GAAP numbers.”
Most companies that play the non-GAAP game goose their numbers by excluding expenses. Tesla does this, too. It backs out stock-based compensation, for example. But the biggest kick to its non-GAAP earnings comes from an increase in top-line revenue.
The company reported third-quarter non-GAAP revenue of $602.6 million, which was about 40 percent more than its GAAP revenue. It achieved such a boost by transforming $171.2 million of liabilities into sales.

Africa Temasek

Africa Temasek

Monday, November 18, 2013

Tesla Is Tanking Now Again

Tesla Is Tanking Now Again

Tuesday, November 12, 2013

Retrial to decide Samsung's damages for Apple

Retrial to decide Samsung's damages for Apple

Apple is set for a replay of a court fight against Samsung Electronics in which the iPhone maker may seek to recoup more than the $411 million in damages a judge cut from a $1.05 billion jury award in 2012 over patents.
Jury selection was under way Tuesday in San Jose, in a retrial over how much Samsung should pay for infringement of Apple's intellectual property. The original verdict in August 2012, which was the year's largest in the U.S. at the time, was found by a judge to be flawed because jurors miscalculated the period that the infringement occurred for some of the 28 Samsung devices on trial.
U.S. District Judge Lucy Koh will instruct jurors at the outset of the retrial that the previous nine-member jury found Samsung infringed five valid Apple patents and that their "sole job" is to determine the amount of damages Samsung must pay for the infringement of 13 Samsung products.
While Apple hasn't said how much it will seek, this jury's revision of the damages to properly account for the infringement may result in more than the $410.6 million subtracted from the previous award, according to Carl Howe, an analyst with Yankee Group.
"The argument at this point is simply about how much Samsung must pay Apple," Howe said. "In my view, there is no chance that the penalties assessed will be small; the argument is just over whether they will be big or huge."

As investors pile in, CEOs bail out

As investors pile in, CEOs bail out

George Clooney: Tesla Did Not Work Well

George Clooney: Tesla Did Not Work Well

Boardrooms Rethink Tactics to Defang Activist Investors

Boardrooms Rethink Tactics to Defang Activist Investors

Monday, November 11, 2013

Bridge For Sale: WSJ - Listening To Journalists On Market

Bridge For Sale: WSJ - Listening To Journalists On Market

MARKET SENTIMENT
The front page of Monday’s WSJ was dominated by articles claiming the market is poised for a correction.  If anyone thinks journalists can call market tops, I have a bridge for you.
Sir John Templeton is famously quoted for saying ”Bull-markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.”  It feels like this market is somewhere between skepticism and optimism.  No one believed the market could rally this year, but that is exactly what it did.  There was Obama’s reelection, Default part I, Sequester, Europe/Cyprus, Obamacare, Sell in May, Syria, Taper, Rising Interest Rates, Sept/Oct market crashes, Shutdowns, Default part II, and countless other excuses people used to stay away.  This is the rally no one trusts, yet it does nothing but march higher.  That sure sounds like skepticism to me.

Thursday, November 7, 2013

Twitter 75% Pop Does Not Come Close To IPO 'Pop List'

Twitter 75% Pop Does Not Come Close To IPO 'Pop List'

Tesla vehicles fires due to safety issue must be investigated

Tesla vehicles fires due to safety issue must be investigated

The National Highway Traffic Safety Administration “absolutely has to investigate” the Nov. 6 Tennessee incident, Clarence Ditlow, executive director of the Center for Auto Safety, based in Washington, said in a phone interview.
A Model S driver struck a tow hitch in the middle of a lane on Interstate 24 near Murfreesboro, Tennessee, damaging the car’s undercarriage and causing the fire, Dalya Qualls, a Tennessee Highway Patrol spokeswoman, said in an e-mail. The driver pulled the car over and was uninjured, Qualls said.
NHTSA declined to investigate a Model S fire in Washington state in October, the first such reported blaze, in which metal debris was involved.
“It appears there’s inadequate shielding on the bottom of these vehicles,” Ditlow said. “Road debris is a known hazard to the undercarriage of vehicles.”
The U.S. agency “will contact the local authorities who are looking into the incident to determine if there are vehicle safety implications that merit agency action,” Karen Aldana, a spokeswoman for NHTSA, said in an e-mail.

Tesla Team

Liz Jarvis-Shean, a Tesla spokeswoman, declined to comment on Ditlow’s remarks and on whether the company needed to strengthen the aluminum casing that houses the 1,000-pound (454-kilogram) lithium-ion battery that powers the Model S.
“We have been in contact with the driver, who was not injured and believes the car saved his life,” Jarvis-Shean said in an earlier e-mail. “Our team is on its way to Tennessee to learn more about what happened in the accident. We will provide more information when we’re able to do so.”
Tesla, the best-performing automotive stock this year, has been under scrutiny as Chief Executive Officer Musk works to create the world’s biggest and most profitable seller of electric cars. Even with this week’s declines, Tesla shares have surged more than fourfold this year after reporting its first quarterly profits.

‘Rocket Science’

The Washington state Model S fire took place Oct. 1, and another occurred in Mexico in mid-October. NHTSA said Oct. 24 it found no evidence the first fire resulted from defects or violations of U.S. safety standards. The agency has said it doesn’t investigate vehicle accidents outside the U.S.
A possible fix for the Model S, priced from $70,000 to more than $100,000, “is not rocket science,” Ditlow said. “Probably the simplest task Tesla has is putting a strong steel shield on the bottom of the car.”

Tuesday, November 5, 2013

ELON MUSK ON TESLA'S TIGHT SUPPLY: We've Had To Starve America To Feed Europe

ELON MUSK ON TESLA'S TIGHT SUPPLY: We've Had To Starve America To Feed Europe

Gold Bug Schiff Counters Goldman on First Drop Since 2000

Gold Bug Schiff Counters Goldman on First Drop Since 2000

Schiff, 50, isn’t fazed that gold is heading for its first annual price drop in 13 years, or that Goldman Sachs Group Inc. has called it a “slam-dunk sell.” He predicts bullion will reverse its 21 percent year-to-date decline and probably surge 52 percent to reach a record $2,000 an ounce within a year. That’s just the beginning: Schiff said he would “be amazed” if the U.S. dollardidn’t collapse and gold failed to skyrocket before PresidentBarack Obama leaves office in 2017.
“I’m waiting for the dollar crash, I’m waiting for the real crisis to hit that I know will benefit gold,” Schiff said Oct. 18 over lunch of spinach-and-beet salad and stewed rabbit in the sun room after the radio show. “The longer it takes, the longer I have to wait for that payday. But the longer it takes, the bigger that payday is going to be.”

Friday, November 1, 2013

Wednesday, October 23, 2013

As stocks near high, is it time to cherry pick?

As stocks near high, is it time to cherry pick?

Gold Miners Are Burning Cash at Current Levels

Gold Miners Are Burning Cash at Current Levels

At the end of September, Citigroup put out a research report for the gold and silver mining sector, and if you're an investor in the space it does not make for good reading. The report concentrates on the rising costs but falling revenues of the mining industry and sets out how this is going to/has already affected many gold miners. We all have our own opinions, that's what makes us Foolish; nonetheless it is helpful to know what the big players in the industry think about certain matters, and information within this report could be helpful.
The report uses a current spot gold price of $1,320/oz throughout, so that is the figure I'm referring to when I use the term "at current prices."
The most shocking and surprising element of the report states that at current spot prices ($1,320/oz) up to 98% of gold companies are cash-flow negative, a staggering percentage of the industry. What's more, while the price of gold has fallen around 20% during the period June 2012 to June 2013, the average cash cost per ounce of gold production around the world has risen 11.8%, from $675/oz to $754/oz. 

Icahn sends letter to Tim Cook, makes pledge: Source

Icahn sends letter to Tim Cook, makes pledge: Source

Tuesday, October 22, 2013

Tesla Is Experiencing Tepid German, Danish Sales So Far

Tesla Is Experiencing Tepid German, Danish Sales So Far

Document Security Systems Announces Partnership with National Association of Drug Diversion Investigators

Document Security Systems Announces Partnership with National Association of Drug Diversion Investigators
NADDI is a non-profit organization that facilitates cooperation between law enforcement, healthcare professionals, state regulatory agencies and pharmaceutical manufacturers in the prevention and investigation of prescription drug diversion.  NADDI's objective is to improve its members' ability to investigate and prosecute pharmaceutical drug diversion.
This partnership provides NADDI members access to DSS's AuthentiSuite technologies as part of an initiative to standardize prescription drug authentication for members and customers. NADDI members have never before had access to this type of authentication capability. The AuthentiSite technology can be employed as a tool for investigators or consumers who are looking to verify websites for prescription drug purchases and validate that pharmaceutical product information, lists of authorized suppliers, and other online information comes from the Brand Owner and not an unauthorized or fraudulent source.
AuthentiSite provides true website authentication from a smartphone application. The DSS team will create and distribute an AuthentiSite seal equipped with DSS patented AuthentiGuard® PrismTMtechnology for NADDI and its members to implement on their websites.  Using the smartphone application, investigators and consumers alike can scan the seal to verify that a website represents a true, licensed reseller.
Robert Bzdick, President of DSS stated, "We are pleased to be working with NADDI, the nation's most prominent organization linking healthcare regulators, manufacturers and consumers, to offer its members access to our AuthentiSite technology in order to combat drug diversion. This partnership brings the powerhouse of AuthentiSuite technologies into the pharmaceutical world, while opening up future opportunities to build business relationships in this area."

Choking smog paralyzes cities in northeast China, closing schools, airports

Choking smog paralyzes cities in northeast China, closing schools, airports