Without a free flow of money, analysts warn that Christmas sales could decline as consumers cut back on gifts and stores struggle to stock shelves. It’s amazing that this present Retail horror might actually be what is needed to put Christmas in perspective. How horrible would it really be for family, relationships, love, care, concern, blessings, thanksgiving, time, touch and story to be the FOCUS of the season instead of money, credit, stuff, buying, selling, presents, consumerism, marketing, crowds, anger, violence (Black Friday insanity) and hurried busyness. WOW! Maybe this whole world-on-its-ear market experience will offer us the true gift for this season. Maybe we will return to Christmas as a season Jesus, friends, neighbors and family. That’s something to be excited about!
Facebook’s IPO Pipe Dream, Up in Smoke
Starry-eyed tech investors have been dreaming of Facebook’s IPO party for years. Anders Bylund dreams of piles and mountains of cash. The kind that you swim in. The kind you get when Microsoft (Nasdaq: MSFT) says you’re worth $15 billion.
Mr. Softy had me convinced. But then Facebook executives began selling stock. (A selling plan for all employees is in the works and ready to go active on Nov. 1, according to The Wall Street Journal.) Key staffers left. More key staffers left. And then, last week, co-founder Dustin Moskovitz — the guy CEO Mark Zuckerberg teamed with while still at Harvard — decided to ditch Facebook to create a new Internet service, the Journal reports.
Yahoo, Google Ad Deal Delayed By Regulators
Late last week, search engine giants Google and Yahoo decided to put a hold on their proposed advertising deal. Last month the proposed deal between the two companies came under fire from anti-trust watchdogs on both side of the Atlantic. I think this is a great opportunity should this go through for tech investors to get a piece of the “Google” action for a fraction of the cost. I personally like Yahoo and am excited to see what happens NEXT!
Two Ways To Play: Confidence Is Sinking
More negative headlines on top of today’s stalemate in Washington. A story on Bloomberg showed that confidence among US consumers fell in September, a sign that the financial turmoil will continue to affect spending. The thing I love that Minyanville’s author points out in this article is that it’s negative headlines that are DRIVING this consumer sentiment and as long as that is the case, don’t expect consumers to bolster any companies stock by making purchases on things that aren’t necessities.
Oil slumps as overseas markets tumble
Global economic slowdown weighs on crude prices. European and Asian markets sink. Well, like I had said about four months ago, the next thing that was to happen would be lower demand on oil. This lower demand would cause a drop on oil by the barrel.
I wanted to post this just to keep up with each step of the tremendous rectifying of the markets that is taking place. Read on for more…
Apple’s stock hit by Web rumor
Online report that CEO Steve Jobs suffered a heart attack was false. SEC said to be investigating. This false report caused a 10% drop in Apple stock within no time! And Apple only recovered to a 3% loss by day’s end. The kicker is that this site is a fully “user” written blog site.
This trend of the media using “user” rated and written sites is leading to a very SCARY place. When the media writes an article, they are required by law to give TRUE and RELIABLE sources for their information. However, when some unknown user gets online and writes a blog, they can make up any story they like and post it. If the media continues to cite such sources and/or allow them to post to their blogs, place quotes on their TV programming, or whatever post haste, they are running the GRAVE RISK of allowing biased, FALSE content.
As I watched CNN a few months ago at a restaurant, I saw user posts being quoted on one of their shows. One of the quotes was shared as if it were “fact” when it actually was not. This scared me a bit. It makes me nervous when we simply feed our viewers what they want versus the actual truth.
I hope that the media in general will learn a lesson from all of this and close down this kind of run-a-muck social journalism, or at least regulate it a bit more.
Again, as I say often, I really hope that we begin to ask ourselves “What is right?” versus simply “What is possible?” Just because something is possible, does not make it the “right” thing to do. Well, that’s a battle I don’t think I am going to fight today.
CNN however will have to…
This is further adds
Monday Proflections – October 6, 2008
A week in the life of Nelson Searcy. This is a time management post of his week. This post is a great tool for pastors to learn from. I plan to begin my week with a similar posting system in order to better order my week. He starts by saying, “A busy but fun week coming up – here’s what’s happening that may be of interest to you…” (READ ON)
Ex-Lehman CEO Faces Grilling and More to Come!
Richard Fuld, former CEO of bankrupt Lehman, testifies before House panel probing what caused the firm’s collapse.
On Tuesday, the committee will hold a hearing on AIG (AIG, Fortune 500), the insurance giant that the government bailed out with an $85 billion credit line. On Oct. 3, AIG said it had already used $61 billion worth of the loan and was selling off parts of its business to help pay it off.
On Oct. 16, the House will hold a hearing on the regulation of hedge funds.
An Oct. 22 hearing will focus on the breakdown of credit rating agencies, and a hearing on Oct. 23 will scrutinize the role of federal regulators.
We are about to see an historic Congressional move on behalf of the American public against the financial sector’s profiteers!
I would say this is proof that everyone wants answers. I hope that the main thing that takes place is that these guys don’t get away making a half billion dollars a piece as it seems Fuld might!
Stock Cruch Deepens on Monday Open
Stocks were in for a bruising Monday after a deepening financial crisis in Europe heightened worries about a global economic slowdown. It seems that the US is finally going to have to realize that our decisions have affected the world and we are going to have to think globally for a fix. I actually am glad that we will not be able to just go inward, fixing our issues and forgetting the world. This growth in concern worldwide is a call for the US to both take responsibility for its global impact and do what is necessary as a neighbor in the world community to help its fellow neighbors. We must act responsibly for our lack of oversight and moral decadence. What we are seeing is an unprecedented event. And we must take unprecedented action!
House Passes Bailout
The House on Friday passed a far-reaching and historic plan to bail out the nation’s financial system. It might not be the BEST bill we’ve ever passed and it might even hand we the people a little larger deficit, but no matter what you think about it, doing nothing would at all at a time like this would be far more catastrophic. At least the FDIC minimum being raised to $250,000 ensures a bit more liquidity for banks. We just have to wait to see how all of this filters down.
I think we are a long way from seeing a total return. Months or years. No matter how long it takes, accept this, Congress has voted for the people and hopes to boost our confidence. Thank you for doing this and thank you for making sure that the parties who caused it are not rewarded!
-d