Joseph Scaffido, Assistant Dean at Cornell University, is captured on hidden camera advising a Project Veritas investigative journalist on how to start and fund a pro-ISIS club on campus, how to obtain funding to send care packages to ISIS and Hamas, and astonishingly, how to bring a member of ISIS to Cornell to run a “training camp.”
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Via Zerohedge
The markets are primed for a very serious correction… possibly even a Crash. Earnings are what drive stocks. Investors sometimes forget this during periods of speculative manias such as the one we’re experiencing today. But the reality is that there is no rational reason to buy a stock (company) other than to share it its profits via Earnings or Dividends. With that in mind, consider that Earnings and Sales are both rolling over sharply. The below chart from Societe General illustrates this point nicely. Also note that we are rapidly approaching a period in which Year over Year changes in both metrics are negative. Read the rest here... Via David Stockman's Contra Corner
Kraft shareholders woke up $12 billion richer this morning and for that they should thank their lucky stars—–or at least send a case of Cristal to Janet and her merry band of money printers. Having passed-out free money to carry traders for 75 months running and after inserting a liquidity and verbal “put” under every market dip since March 2009, the money printers had generated downright giddiness (as of Monday night!) in the Wall Street casino. And when it came to the shares of Kraft, the casino was indeed giddy even before the deal was announced. A few months ago when it was trading about $55/share, the company was already valued at 31X its $1.75 per share of net income for the year then ending. So now those fast money traders who somehow “got wind” of the deal early are just plain tickled pink. At $83 per share they are up 50% on their cash position and several hundred percent on their call options. That’s quite the pay day, amounting to about 47X last year’s earnings on Jell-O, Kool-Aid, Lunchables, Maxwell House, Oscar Mayer, Philadelphia cream cheese, Planters peanuts and Velveeta spreads. Setting aside the Kool-Aid, you might wonder how hot dogs, peanuts and sliced cheese are really worth such a snappy valuation multiple. Actually, however, that’s not the complete wonder of it. In the year just ended, Kraft posted an hardly impressive $2.9 billion of adjusted EBITDA less CapEx. Yet the casino is now pegging its total enterprise value (TEV) at $58 billion—-including about $9 billion of net debt. Can you say 20X free cash flow? Well, Warren Buffet can. Gushing away in a statement accompanying the deal, the Oracle of Omaha said: “I am delighted to play a part in bringing these two winning companies and their iconic brands together. This is my kind of transaction, uniting two world-class organizations and delivering shareholder value. I’m excited by the opportunities for what this new combined organization will achieve.” Read the rest here... Via Zerohedge
Moscow — which may or may not have to nuke Denmark — says the US has adopted a national security strategy that is decidedly anti-Russian. Although attempts to prove how “isolated” Putin truly is on the geopolitical stage haven’t fared very well of late (what with Russian bombers refueling at former U.S. air bases and Putin plotting Eurasian currency unions) and although Washington’s experience with China’s AIIB membership drive seems to indicate it may be the US that is in fact isolated, The Kremlin doesn’t think The White House is likely to give up on its attempts to ostracize Russia any time soon. From a Russian Security Council statement entitled "About The US National Security Strategy": In the long term, the United States, in cooperation with its allies will continue the policy of political and economic isolation of Russia, including limiting its ability to export energy and the displacement of all markets for military products, while making it difficult for the production of high-tech products in Russia. Putin's security council then proceeds to deliver a remarkably accurate description of Washington’s foreign policy aims including the desire to show off NATO military capabilities (on full display along the Russian border currently), installing puppet governments and propping them up with financial and military support (which is precisely what’s going on now in Ukraine as the US is set to provide military assistance and also financial assistance via a Ukrainian bond issue back by the full faith and credit of the US government), and preserving US hegemony by taking unilateral action across the globe at Washington’s behest (something the US does all the time): The Strategy emphasizes the US desire to proceed with the formation of a new global economic order. Read the rest here... Via The Blaze
When a friend and recent college graduate informed me he was receiving food stamps, I was floored. He is a healthy, educated, intelligent individual, but, like many of the millennials I know, entitled. Completely and utterly entitled. “Is something wrong?” I asked my friend. “Are you going through a tough time or something? I know you’re working and everything seems to be going well with your job.” “It’s nothing like that,” he assured me. “My job is with AmeriCorps though, and they just don’t pay enough. That’s why I’m eligible for food stamps. I figure, they aren’t paying me what I should get paid so it seems fair I should be eligible for government assistance.” Somewhere in Fairfax County, Virginia, George Washington is rolling over in his grave. Read the rest here... If you are going to volunteer your services for the greater good, don't then turn around and mooch off of the American people for your sustenance because you are negating the good (if there is anything really good that you are doing and not just shallow empty actions that merely seem good) you are supposedly doing and sucking the life out the American taxpayer. Via The Blaze
When it comes to the nation’s power grid, there’s a lot at stake, and enemies know it because they’ve attacked electric utilities hundreds of times within the past several years. An investigation by USAToday and more than 10 of its community newspapers and television stations across the country found that between 2011 and 2014 alone, there were 362 reported physical and cyberattacks by electric utilities that resulted in partial power outages or disturbances. Most of the attacks were physical; 14 of them were cyberattacks. But according to the Department of Homeland Security, the number of “cyber incidents” on the nation’s power infrastructure has been on the rise recently. In 2013, it received 151 reports of “cyber incidents,” compared to 2012 when it received 111. In 2011, that number was considerably smaller at just 31. It’s unclear, however, whether the rise is due to more cyber activity or merely the result of the industry actually reporting those incidents. Read the rest here... Via The Blaze
The owner of a Detroit recycling business filed a federal lawsuit against the city and is asking a judge for a restraining order against a police officer whom he said planted evidence — and the businessman is basing his claim on his own surveillance video. Joe Fawaz, owner of Southwest Metals, told WJBK-TV that Detroit police sergeant Rebecca McKay can be seen on video “miraculously” pulling Detroit Edison copper wire from a room full of scrap on his premises. It’s against the law in Michigan to buy or sell stolen DTE copper cable. “She looks to see if anyone is looking,” Fawaz said, observing the March 2013 video. “And all of a sudden, she beelines right to the corner. She doesn’t look to the left, she doesn’t look to the right.” Fawaz continued, saying McKay “bends down, and she miraculously pulls something out.” Read the rest here... Via Ace of Spades
To recap: The Deputy Homeland Security Advisor has the "appearance" of being corrupt and doing Big Dollar favors for connected Democrats, says the Inspector General of the DHS. Just so you understand the Ca$h Money Ju$tice angle here: The EB-5 program grants permanent resident visas to foreigners who invest at least$500,000 in a US company. Well, if you're a leftist connected to the Obama Administration, then, and want a lot of foreign money given to you in the form of "investments," you would certainly want to make sure your Big Dollar "Investment" Investors are getting their Cash Money Green Cards from the DHS, right? You wouldn't want those held up, right? You wouldn't want them, egads,denied over security concerns, right? No, you'd want your Cash Money Partners to get their Cash Money Green Cards that they paid for. Otherwise, what would be the point in investing in your Government Subsidized Boondoggle? Read the rest here... Via Ace of Spades
Thank you for "trading" terrorists to get this fine American boy back, Mr. President. I put "trading" in quotes because Obama just wants excuses to release terrorists -- the "trade" here is a pretext to do what he already wished to do. Read the rest here... March General Meeting - March 26th
Featuring: Joanne Bregman Think the resettlement of refugees in Tennessee has no effect on you and your family? Think again. Joanne Bregman, an attorney with experience in the appellate division of the National Labor Relations Board and on Capitol Hill, was a New York native and longtime liberal when she chose, with her U.S. Army veteran husband, to make a life in the South and settled in Nashville some years ago. Although she has kept her license active, she has not practiced in the Volunteer State. But that doesn’t mean she has been uninvolved or is unaware. It means, instead, that she has focused her attention on needs that are paramount for her family and, through it all, she has not only changed many of her political opinions, but she has used the analytical skills she learned as a young attorney, coupled with the passion to do what is best for her own special needs daughter, to find a new way to use that expertise. WHERE: Jason's Deli (map) 3473 Poplar Ave. Memphis, TN 38111 WHEN: Thursday, February 26th (6:30 - 8:30 PM) |
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Yvonne Burton...there is no collection of writers...it's just me. Archives
November 2022
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