Detroit Was First

October 30, 2013

The Ten US Cities With Less Than Ten Days Of Cash On Hand

As the Detroit bankruptcy hearing heats up following news that the city’s unsecured creditors, among them pensioners, are set to recover pennies on the dollar, 16 to be precise, the question of which are the next cities to follow in the footsteps of bankrupt Motown, becomes relevant once again.

Courtesy of the WSJ, and the second part of its series on “U.S. Cities Grapple With Finances“, here is a list of the US cities that when push comes to shove metaphorically, and when the money runs out literally, will have no choice but to knock on the door of the local regional bankruptcy court and submit that long-prepared bankruptcy petition.

Specifically, here are the cities that have 10 days or less in cash on hand available. Because, unless one is the Fed, cash and lack thereof is all that matters.


Back To You Dingy Harry’s Senate, As the House Feels The Wind Of The People On It’s Side

September 28, 2013

And why not, as this turkey stumbles out of the gate …

Government Shutdown Imminent As Republicans Add “Obamacare-Delay” To Funding Bill

It appears investors (CDS markets, VIX, T-Bills anxiety) were on to something as each side in the  looming government shutdown debate seems mired in their own belief that the other has more to lose.

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Hostess Plans to Liquidate After Mediation Fails

November 20, 2012


Hostess Brands Inc. said Tuesday night that mediation talks with its bakers union failed and the company will proceed with plans to close down and sell its assets.

Read more at …

The New iPhone Comes?

August 2, 2012

Gadget fans waiting anxiously for the next iPhone to be released may be reaching the home stretch. The betting is it’s before Christmas. That’s hard.

Apple, which has made no official announcement, is planning a Sept. 12 event at which the next generation of the iconic smartphone will presumably be announced, according to multiple reports. Key word is probably.

iMore, an Apple-oriented blog, was the first to report that “sources who have proven accurate in the past” said the phone will be introduced at an event that day and released nine days later. Observers are calling it the iPhone 5, although no name has been announced.

Others, including The Wall Street Journal’s All Things D blog, followed with similar reports. Quoting anonymous sources at Apple, All Things D said an event is planned for the week of Sept. 9. The 12th would be a Wednesday, which follows with previous Apple events.

A September release would be slightly ahead of Apple’s established one-iPhone-per-year pace. But the iPhone 4S took longer than usual, its October unveiling coming about 16 months after the iPhone 4.

Everybody is talking, no one knows what is really going on. Except the old one is getting a bit long in the tooth.

It’s True: Corporations Are People Too, Why Would You Think Not

July 16, 2012

Obama world view — Business owners have stolen from other people to be successful, in Obama anti-Colonialist pea brain. “Dreams from his father” were nothing but allusions. And composited made up characters, the way Obama wanted real life to be, so he made up his characters and events in his “fiction” book. He has quite the imagination.

Like the dupe Elizabeth Warren, made up Cherokee Indian. Elizabeth Warren … Stupidity on parade … Spouting garage. Who paid for the roads? Meaningless people who know their lives have no meaning and now only the faceless dupes have done anything.

What class warfare looks like. Does anybody buy this crap? Why? Aren’t you smarter than that? Don’t you know when you are being played, lied to, by politicians? Can you??

Heck all you have to do is listen closely to what Obama actually says, not what he wants you to think about what he says. They are differences … Word play and semantic infiltration are big deals with liberals. Just ask the Little Blue Book for details … Works with the dumb and stupid people. Educated, think for themselves, not so much so.

Last Friday Night … Obama said,
President Barack Obama Speaks in Roanoke Va — What a driveller is all about.

The man despises America, and hates the way it became successful. And will do all he can to destroy you and America. Just listen to what anti-American anti-Colonialist Obama sounds like. The mask is off, the cheering is by morons, not Americans. I would be his father could make the same speech, if he were still alive.

Think what the world would be like if Karl Marx had been aborted.

Jack Welch takes up the challenge and writes in the WSJ:

Here’s a new party trick. Want to be accused of being a member of a satanic cult? Like to be called the kind of person who would steal candy from a child, or harm a puppy and start a forest fire—all in the same day? Do you want to be described as evil, heartless and stupid?Then just do this: Offhandedly mention in public that you agree with Mitt Romney—and that, yeah, you think corporations are people.

Oh, how that notion sets some people right off their rockers! Take, for instance, the scene last month when senatorial candidate Elizabeth Warren introduced President Obama at a big fundraiser in Boston:

<blockquote><blockquote>Mitt Romney tells us, in his own words, he believes corporations are people. No, Mitt, corporations are NOT people,” she pronounced. “People have hearts. They have kids. They get jobs. They get sick. They love and they cry and they dance. They live and they die. Learn the difference.”</blockquote></blockquote>

The audience went wild.

What nonsense.

Of course corporations are people. What else would they be? Buildings don’t hire people. Buildings don’t design cars that run on electricity or discover DNA-based drug therapies that target cancer cells in ways our parents could never imagine.

Red Flag in Bank Lending?

May 25, 2012

The WSJ Reports:

Lending stumbled in the first quarter after nearly a year of growth, deepening questions about the recovery and confidence of borrowers and bankers.

Loan balances fell by more than $56 billion, or 0.8%, in the quarter ended March 31, according to the Federal Deposit Insurance Corp. The quarter-over-quarter decline marks a reversal from three consecutive quarters in which lending expanded.

Oh oh the recovery is in danger, send up a flare.

Answer the question —  what recovery is that?

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