That's right: The streaming sensation's next big move is to stream itself.
This will be the future: Live broadcasts, tweets and earnings press releases on company we sites. No need for PRnewswire or BusinessWire to do this work.
Showing posts with label Friday. Show all posts
Showing posts with label Friday. Show all posts
Friday, July 12, 2013
Earnings Announcement Breakthrough from Netflix
Netflix (NFLX) isn't done breaking rules. In what may be his craziest move yet, CEO Reed Hastings and the company's chief financial officer, David Wells, will take to the Web on July 22 to broadcast the company's financial results live, via video, to anyone who chooses to tune in, reports DailyFinance.com.
That's right: The streaming sensation's next big move is to stream itself.
This will be the future: Live broadcasts, tweets and earnings press releases on company we sites. No need for PRnewswire or BusinessWire to do this work.
That's right: The streaming sensation's next big move is to stream itself.
This will be the future: Live broadcasts, tweets and earnings press releases on company we sites. No need for PRnewswire or BusinessWire to do this work.
No Joke: Top Paid Comedians Of 2013
Huh, I was expecting Paul Krugman and Ben Bernanke to be on the list.
Actually, the list is pretty amazing. I recognize Seinfeld, but have no clue as to who the others are.
1. Jerry Seinfeld
Annual Earnings: $32 million
2. Terry Fator
Annual Earnings: $24 million
Actually, the list is pretty amazing. I recognize Seinfeld, but have no clue as to who the others are.
1. Jerry Seinfeld
Annual Earnings: $32 million
2. Terry Fator
Annual Earnings: $24 million
3. Russell Peters
Annual Earnings: $21 million
4. Jeff Dunham
Annual Earnings: $19 million
5. Louis C.K.
Annual Earnings: $16 million
(From Forbes by way of HuffPo)
REMEMBER: "8 Pressure Stock Pitches Stockbrokers at John Thomas Financial Might Use on You"...
that we published here at EPJ?
This week, John Thomas Financial ended its registration as a securities broker-dealer.
NyPo has more details:
This week, John Thomas Financial ended its registration as a securities broker-dealer.
NyPo has more details:
R.I.P., Jtf.
John Thomas Financial, the beleaguered Wall Street brokerage firm founded by celebrity broker Tommy Belesis, has fallen so far it’s now six feet under, The Post has learned.
The formerly high-flying brokerage firm, which once boasted attendants in its office bathroom and ties to famed film director Oliver Stone, filed termination requests with federal and state regulators, including the Securities and Exchange Commission, the Financial Industry Regulatory Authority (Finra) and the Nasdaq Stock Market, records show.
In all, JTF filed a whopping 45 termination requests this week, according to Finra records.
The move caps the brokerage firm’s fast and furious demise following a litany of government probes, which were first reported by The Post in February.
In March, the SEC filed a lawsuit against Belesis and George Jarkesy, a Houston radio host, accusing them of deceiving investors of a hedge fund allegedly controlled by Belesis.
In April, Finra filed a complaint accusing Belesis of selling the brokerage firm’s shares ahead of clients and intimidating and harassing brokers.
Belesis, 38, has denied the allegations, as has Jarkesy.
Still, the allegations have taken their toll on the firm.
In June, the firm’s prized 38,705 square-foot office space on the 23rd floor of 14 Wall Street was put on the market.
Not long after, JTF’s clearing firm, Sterne Agee, sent a notice to JTF’s customers warning that the brokerage didn’t have enough capital to continue operating and was required to “suspend all business operations” until it could bring itself back into compliance.
Prior to JTF’s coming into the government’s crosshairs, Belesis was rubbing elbows with famous and powerful people, and regularly winning appearances on cable television.
In 2011, he was honored with the Manhattan GOP “Businessman of the Year Award” in a ceremony that included presidential hopeful Rick Perry. Two years earlier he was given a similar award by former New York mayor Rudy Giuliani.
Glenn Beck Calls for Celebrating Ramadan by Shooting All Guantanamo Prisoners in the Head
Martin Hill reports:
Former CNN and FOX host Glenn Beck has called for commemorating the Muslim holy month of Ramadan by shooting everyone at Guantanamo Bay in the head, also joking about torturing others through forced-feeding. On his July 9th radio program, the 49-year-old Mormon GOP supporter was discussing hunger strikes and forced feeding of prisoners at Guantanamo Bay. "We can't let them starve themselves to death? Damn right we can. We can also shoot them in the head, which is the other option and the one I'm for. SHOOT THEM. But, the other is let them starve to death and I'm totally fine with that," Beck insisted
The Department of Energy Is About to Mess With Computer Power
The Energy Department signaled Friday it intends to order new efficiency standards for all computers and servers in the United States, reports The Hill.
A pair of documents published in the Federal Register said the DOE has “tentatively” ruled that a federal law designed to curtail consumer energy use, created in the wake of the 1973 oil crisis, also covers computer and servers.
A pair of documents published in the Federal Register said the DOE has “tentatively” ruled that a federal law designed to curtail consumer energy use, created in the wake of the 1973 oil crisis, also covers computer and servers.
How the Federal Reserve Just Hid Important Data
One of the most important data points released by the Federal Reserve has been the amount of excess reserves sitting at the Federal Reserve. Prior to Ben Bernanke paying interest on these reserves, they hardly climbed above $1 billion. After Bernanke announced that he would start paying interest on such reserves, they have skyrocketed. They are now nearly at $2 trillion.
Here's a chart from the St Louis Federal Reserve showing what happened:
This is important data because these reserves are sitting at the Fed and not in the economy bidding up goods and service. If banks start pulling this money out of the Fed and making loans with the money, the money supply will explode, as well as price inflation.
This must be watched closely. But notice something about this chart, the chart title says the series is discontinued. Got that? One of the most important data points is no longer reported by the Federal Reserve.
But is the data really no longer reported? Not quite. The Fed just changed the name for the data (and possibly altered its calculation slightly). The Fed is no longer reporting excess reserves, but instead is pretty much reporting the same thing as Balances maintained that exceed the top of the penalty- free band. This is a cute way for the Fed to erase the connection between pre-Bernanke excess reserves, the massive spike in reserves and the current situation. The data was reported in the old format for 54 years, that is since 1959.
You can see what the old format H.3 release was like and the long series of data, here. Notice the simple clear data with a column marked excess reserves. That data was from last week. Now take a look at the new data being put out under the same H.3 release, here. The excess reserve column is gone and replaced with Balances maintained that exceed the top of the penalty- free band. Notice that the new data point has just one data point, all the historical data about excess reserves is gone from the current release. Poof! Fifty four years of history, that show how Bernanke has created an insane excess reserves problem, is now relegated to the dust bins. From here on out, Balances maintained that exceed the top of the penalty- free band (formerly known as excess reserves) will show a starting number of $1.977 trillion, rather than the decades under $1 billion.
Cute.
Here's a chart from the St Louis Federal Reserve showing what happened:
This is important data because these reserves are sitting at the Fed and not in the economy bidding up goods and service. If banks start pulling this money out of the Fed and making loans with the money, the money supply will explode, as well as price inflation.
This must be watched closely. But notice something about this chart, the chart title says the series is discontinued. Got that? One of the most important data points is no longer reported by the Federal Reserve.
But is the data really no longer reported? Not quite. The Fed just changed the name for the data (and possibly altered its calculation slightly). The Fed is no longer reporting excess reserves, but instead is pretty much reporting the same thing as Balances maintained that exceed the top of the penalty- free band. This is a cute way for the Fed to erase the connection between pre-Bernanke excess reserves, the massive spike in reserves and the current situation. The data was reported in the old format for 54 years, that is since 1959.
You can see what the old format H.3 release was like and the long series of data, here. Notice the simple clear data with a column marked excess reserves. That data was from last week. Now take a look at the new data being put out under the same H.3 release, here. The excess reserve column is gone and replaced with Balances maintained that exceed the top of the penalty- free band. Notice that the new data point has just one data point, all the historical data about excess reserves is gone from the current release. Poof! Fifty four years of history, that show how Bernanke has created an insane excess reserves problem, is now relegated to the dust bins. From here on out, Balances maintained that exceed the top of the penalty- free band (formerly known as excess reserves) will show a starting number of $1.977 trillion, rather than the decades under $1 billion.
Cute.
DOJ's Banana Republic Creds
By Ilana Mercer
Eric Holder’s Department of Justice’s banana-republic bona fides are solid. But if true, a new scandal bolsters these “credentials” considerably.
Judicial Watch President Tom Fitton alleges that “the little-known [DOJ] agency, the Community Relations Service,” helped to organize “marches, demonstrations and rallies related to the shooting and death of an African-American teen by a neighborhood watch captain.”
That description could only apply to the Trayvon Martin killing, for which Zimmerman is currently on trial. The heated protests and national media attention helped build the pressure last year for Zimmeran’s arrest — he was not initially charged after claiming self-defense.
DOJ spokesperson Dena Iverson framed her department’s political agitation in Doublespeak:
“The Community Relations Service was in Sanford, Florida fulfilling their mandated mission.”
The Blaze investigates the story (because Big Media won’t).
For further updates on this post, visit here.
New Edward Snowden Statement
Statement by Edward Snowden to human rights groups at Moscow's Sheremetyevo airport, posted by WikiLeaks:
Hello. My name is Ed Snowden. A little over one month ago, I had family, a home in paradise, and I lived in great comfort. I also had the capability without any warrant to search for, seize, and read your communications. Anyone's communications at any time. That is the power to change people's fates.
It is also a serious violation of the law. The 4th and 5th Amendments to the Constitution of my country, Article 12 of the Universal Declaration of Human Rights, and numerous statutes and treaties forbid such systems of massive, pervasive surveillance. While the US Constitution marks these programs as illegal, my government argues that secret court rulings, which the world is not permitted to see, somehow legitimize an illegal affair. These rulings simply corrupt the most basic notion of justice – that it must be seen to be done. The immoral cannot be made moral through the use of secret law.
I believe in the principle declared at Nuremberg in 1945: "Individuals have international duties which transcend the national obligations of obedience. Therefore individual citizens have the duty to violate domestic laws to prevent crimes against peace and humanity from occurring."
Accordingly, I did what I believed right and began a campaign to correct this wrongdoing. I did not seek to enrich myself. I did not seek to sell US secrets. I did not partner with any foreign government to guarantee my safety. Instead, I took what I knew to the public, so what affects all of us can be discussed by all of us in the light of day, and I asked the world for justice.
That moral decision to tell the public about spying that affects all of us has been costly, but it was the right thing to do and I have no regrets.
Since that time, the government and intelligence services of the United States of America have attempted to make an example of me, a warning to all others who might speak out as I have. I have been made stateless and hounded for my act of political expression. The United States Government has placed me on no-fly lists. It demanded Hong Kong return me outside of the framework of its laws, in direct violation of the principle of non-refoulement – the Law of Nations. It has threatened with sanctions countries who would stand up for my human rights and the UN asylum system. It has even taken the unprecedented step of ordering military allies to ground a Latin American president's plane in search for a political refugee. These dangerous escalations represent a threat not just to the dignity of Latin America, but to the basic rights shared by every person, every nation, to live free from persecution, and to seek and enjoy asylum.
Yet even in the face of this historically disproportionate aggression, countries around the world have offered support and asylum. These nations, including Russia, Venezuela, Bolivia, Nicaragua, and Ecuador have my gratitude and respect for being the first to stand against human rights violations carried out by the powerful rather than the powerless. By refusing to compromise their principles in the face of intimidation, they have earned the respect of the world. It is my intention to travel to each of these countries to extend my personal thanks to their people and leaders.
I announce today my formal acceptance of all offers of support or asylum I have been extended and all others that may be offered in the future. With, for example, the grant of asylum provided by Venezuela's President Maduro, my asylee status is now formal, and no state has a basis by which to limit or interfere with my right to enjoy that asylum. As we have seen, however, some governments in Western European and North American states have demonstrated a willingness to act outside the law, and this behavior persists today. This unlawful threat makes it impossible for me to travel to Latin America and enjoy the asylum granted there in accordance with our shared rights.
This willingness by powerful states to act extra-legally represents a threat to all of us, and must not be allowed to succeed. Accordingly, I ask for your assistance in requesting guarantees of safe passage from the relevant nations in securing my travel to Latin America, as well as requesting asylum in Russia until such time as these states accede to law and my legal travel is permitted. I will be submitting my request to Russia today, and hope it will be accepted favorably.
If you have any questions, I will answer what I can.
Thank you.
(ht John Duncan)
(ht John Duncan)
Parked Outside the Jackson Hole Venue Where Fed Presidents are Speaking
It pays to be close to the Fed.
Federal Reserve Bank Presidents of Philadelphia, Charles Plosser, and St. Louis, James Bullard, are discussing economic outlook in Jackson Hole, Wyoming, today. Michael Derby snapped this picture outside the venue where Polsser and Bullard are speaking.
Federal Reserve Bank Presidents of Philadelphia, Charles Plosser, and St. Louis, James Bullard, are discussing economic outlook in Jackson Hole, Wyoming, today. Michael Derby snapped this picture outside the venue where Polsser and Bullard are speaking.
BREAKING: 'Incident' at Heathrow Airport
Heathrow Airport says ‘incident’ involving Ethiopian Airlines plane has suspended all arrivals and departures.
UPDATE:
Incident appears to be a fire on a parked plane.
UPDATE:
Incident appears to be a fire on a parked plane.
Geithner Sells Bethesda, Maryand Home
The former Treasury secretary and his wife Carole put the four-bedroom rambler on the market in March; it went under contract within days for their $995K asking price (just a little more than what they bought it for), but the Geithners put off the closing until they were ready to vacate the place in July, reports WaPo.
Hillary Clinton Starts to Cash in Big Time
WaPo reports on her seemingly crony speech schedule:
In the six months since stepping down as secretary of state, Clinton has addressed apartment-complex developers in Dallas, private-equity managers in Los Angeles and business executives in Grand Rapids, Mich. Still to come are travel agents, real estate brokers, clinical pathologists and car dealers — collecting more than $200,000 per appearance, according to one executive who arranges speaking tours.[...]
Most of the trade groups Clinton has addressed actively lobby Congress on issues both substantial and mundane. The American Society of Travel Agents, which Clinton will address in September, wants airlines to provide data to travel agencies about baggage and boarding fees. The National Multi Housing Council, which Clinton addressed in April, advocates, among other things, low-interest loans for those who deal with bedbug infestations.
When she spoke to the Society for Human Resource Management in June, association chief executive Hank Jackson said, “We were very pleased that most of her speech was tailored towards HR issues.”
“She didn’t realize how intimately involved we are in providing feedback to Congress on how immigration from a practical perspective — not from a political perspective — is affecting businesses’ ability to manage talent,” Jackson said. “Giving her that insight was something that she could take away from the meeting.”
Other audiences have many millions of dollars at stake in federal tax policies. In June, Clinton addressed an investor meeting in Los Angeles of KKR, the private-equity giant, and fielded questions from firm co-founder Henry Kravis. Her appearance, first reported by Politico, was confirmed by a KKR spokeswoman.
In the six months since stepping down as secretary of state, Clinton has addressed apartment-complex developers in Dallas, private-equity managers in Los Angeles and business executives in Grand Rapids, Mich. Still to come are travel agents, real estate brokers, clinical pathologists and car dealers — collecting more than $200,000 per appearance, according to one executive who arranges speaking tours.[...]
Most of the trade groups Clinton has addressed actively lobby Congress on issues both substantial and mundane. The American Society of Travel Agents, which Clinton will address in September, wants airlines to provide data to travel agencies about baggage and boarding fees. The National Multi Housing Council, which Clinton addressed in April, advocates, among other things, low-interest loans for those who deal with bedbug infestations.
When she spoke to the Society for Human Resource Management in June, association chief executive Hank Jackson said, “We were very pleased that most of her speech was tailored towards HR issues.”
“She didn’t realize how intimately involved we are in providing feedback to Congress on how immigration from a practical perspective — not from a political perspective — is affecting businesses’ ability to manage talent,” Jackson said. “Giving her that insight was something that she could take away from the meeting.”
Other audiences have many millions of dollars at stake in federal tax policies. In June, Clinton addressed an investor meeting in Los Angeles of KKR, the private-equity giant, and fielded questions from firm co-founder Henry Kravis. Her appearance, first reported by Politico, was confirmed by a KKR spokeswoman.
Homeland Security Secretary Janet Napolitano Resigns
What's Your Number?
The world's population is expected to hit seven billion in the next few weeks. After growing very slowly for most of human history, the number of people on Earth has more than doubled in the last 50 years.
Take the BBC quiz to find out what number you are on the planet. Find out how many people were alive at the time you were born and find out how many people lived since history began on the day you were born. It is all HERE.
Take the BBC quiz to find out what number you are on the planet. Find out how many people were alive at the time you were born and find out how many people lived since history began on the day you were born. It is all HERE.
PHOTO: Snowden Meets With Amnesty and Human Rights Watch at Moscow Airport
Tanya Lokshina (on the left) of Human Rights Watch sent this picture of Snowden, with Sarah Harrison of WikiLeaks.
UPDATE
The Russian news agency, Interfax, is reporting that Snowden wants to stay in Russia.
UPDATE 2
Snowden says he has received offers from Venezuela, Russia, Bolivia, Nicaragua, Ecuador
UPDATE 3
Snowden says he will seek asylum in Russia until he could travel to Latin America
League of South Prez: Rand Paul Aide is Doing the "Trent Lott Crawl"
I have never quite seen anything like this before. Rand Paul and aide Jack Hunter have managed to simultaneously infuriate parts of the south and Israeli supporters,
Dr Michael Hill, president of the League of the South, during an interview yesterday on the Southern Nationalist Network spoke about comments made earlier this week by Rand Paul aide Jack Hunter, who has disavowed many of his early writings and commentary about the South.
Hill said Hunter was doing the "Trent Lott crawl," to keep in the good graces of the establishment and speculated that Hunter might really still hold his old beliefs and was doing the crawl "just to keep his job." He said he had wished that Hunter would be more of a man about his true beliefs.
Hill then went on to discuss Rand and his recent comments in praise of Abraham Lincoln and against secession. Hill called Rand a disappointment and said he was just "one of the pack."
Hill also said that he found a lot of things he liked about Ron Paul, but was not a supporter, since Ron, despite now living in Texas, is originally from Pittsburgh.
But it is not only parts of the South that are upset with Rand. The Washington Free Beacon reports on the upset Rand comments defending Hunter, and Hunter comments, have caused on the Israeli front:
Dr Michael Hill, president of the League of the South, during an interview yesterday on the Southern Nationalist Network spoke about comments made earlier this week by Rand Paul aide Jack Hunter, who has disavowed many of his early writings and commentary about the South.
Hill said Hunter was doing the "Trent Lott crawl," to keep in the good graces of the establishment and speculated that Hunter might really still hold his old beliefs and was doing the crawl "just to keep his job." He said he had wished that Hunter would be more of a man about his true beliefs.
Hill then went on to discuss Rand and his recent comments in praise of Abraham Lincoln and against secession. Hill called Rand a disappointment and said he was just "one of the pack."
Hill also said that he found a lot of things he liked about Ron Paul, but was not a supporter, since Ron, despite now living in Texas, is originally from Pittsburgh.
But it is not only parts of the South that are upset with Rand. The Washington Free Beacon reports on the upset Rand comments defending Hunter, and Hunter comments, have caused on the Israeli front:
Sen. Rand Paul (R., Ky.) defended embattled aide Jack Hunter, whose past as a prominent pro-Confederate radio pundit was first reported by the Washington Free Beacon on Tuesday, even as the controversy threatened to unravel his recent outreach to the pro-Israel community.[...]
Hunter’s comments, in particular his suggestion that Paul’s pro-Israel remarks have been “little rhetorical concession[s]” and part of “play[ing] the game,” have reignited concerns that Paul’s occasional pro-Israel statements have not been genuine.
“I think it’s important for Rand Paul to make it clear that when Hunter made those statements he doesn’t speak for Rand Paul, and everything he said about Israel he will adhere to,” said Mort Klein, president of the Zionist Organization of America (ZOA).[...]
Hunter renounced most of his controversial positions in an interview with the Free Beacon on Monday, but declined to say directly that he no longer supports secession.
Klein said he could not accept an apology from Hunter.
“If someone has made numerous horrific statements, or ones that go way beyond the pale, applauding the assassination of Lincoln, one has to assume that’s who the person is and apologies made under political heat are not credible,” Klein said.
“I don’t accept Obama’s excuses for his friendships with haters, I don’t accept [Chuck] Hagel’s or [Samantha] Power’s apologies for their statements,” Klein added. “So I personally could not accept [Jack] Hunter now apologizing and dismissing these statements. He’s made too many and he’s made too many that are beyond the pale.”
This Is How You Campaign for the Fed Chairmanship Position
Via Business Insider:
Summers is said by those who know him to be in no way campaigning for the job, despite a recent flurry of stories about his potential nomination. His office said he was golfing with no access to a cellphone when POLITICO tried to reach him on Tuesday. People close to Summers say he has settled into his current teaching role at Harvard and is not especially eager to move back to Washington full time.
But others say if Obama asks, Summers would certainly agree to serve.
ANALYSIS: Private Sector Economy Has Done Just a Little Better Than Stagnation for the Last 13 Years; Potential for Another Great Depression Exists
In an important new paper, Robert Higgs writes:
(Via Tyler Cowen)
Until World War II and the postwar years, when the federal bureaucracy institutionalized the government’s preferred method for calculating national income, economists offered sound arguments for excluding government spending from estimates of gross domestic product. Using their general approach reveals that the private economy’s performance for the past thirteen years has been only somewhat better than complete stagnation.Higgs concludes:
As the basic Keynesian model implies, the recent increases in government spending appear to haveprevented an even greater decline in real GDP during the recession that began in the winter of 2007–2008. However that may be, because so much of this spending may have had little or no value—or even negative value—in itself, the question remains as to whether, despite what the official GDP figures show, the population’s true economic well-being might have suffered a greater contraction than mainstream economists, journalists, policymakers, and others for the most part believe. To resolve this question, I have computed what I call real “gross domestic private product” (GDPP), which is simply the standard real GDP minus the government purchases part of it. Figure 1 shows the movement of this variable from 2000 to 2012, the most recently completed year. If real GDPP had grown at its long-run average rate of about 3 percent per year during the period from 2000 to 2012, it would have increased by about 43 percent. In reality, however, real GDPP increased during this period by only 22 percent or by about 1.7 percent per year on average. So during this period of more than a decade, private product grew at only slightly more than half of its historical average rate. Between 2002 and 2007, while the housing bubble was giving rise to seemingly buoyant growth even beyond the housing sector, the good times appeared to have returned, but the inevitable bust from 2007 to 2009 and the slow recovery since 2009 pulled the intermediate-run growth rate for 2000–2012 back to an anemic level. The recovery of the period 2009–12 brought real GDPP up to a level only 3 percent above its 2007 level, signifying five years in which almost no net gain had been made and much suffering had occurred between the beginning and the end of the period. Perhaps the most positive statement we can make about the private economy’s performance during this thirteen-year period is that it has been somewhat better than complete stagnation.[...]
[T]he federal government’s huge run-up in its spending and debt; the Fed’s great expansion of bank reserves, its allocation of credit directly to failing companies and struggling sectors, and its accommodation of the federal government’s gigantic deficits; and the federal government’s enactment of extremely unsettling regulatory statutes, especially Obamacare and the Dodd-Frank Act—have served to discourage the private investment needed to hasten the recovery and lay the foundation for more rapid economic growth in the long run. To find a similar perfect storm of counterproductive government fiscal, monetary, and regulatory policies, we must go back to the 1930s, when the measures taken under Herbert Hoover and Franklin D. Roosevelt turned what probably would have been an ordinary, short-lived recession into the Great Depression (Higgs 1987, 159–95; 2006, 3–29). If the government and the Fed persist in the kind of destructive policies they have undertaken since 2007, the potential for another great depression will remain. Even without such a catastrophe, the U.S. economy presents at best the prospect of weak performance for many years to come.
(Via Tyler Cowen)
Subscribe to:
Posts (Atom)