All the news that gives us fits to print

Visa IPO Price Set

Filed under: Business,Economy News — Tags: , , , , , , — Paddy Wallbouncer @ 6:50 pm 2008 March 18

Picture of the Visa Credit Card LogoAbout $44 per share, and 17.9 billion dollars in market capital. It’s just the natural course of things. Create a company that is based upon building up debt. Get the debt up to record levels! Just as it looks as though major defaults may be around the corner, spin the company off in an IPO! That way, when all the Visa credit card users are up to their hats in debt and start a massive round of defaults, have the investors of the shiny new Visa IPO pick up the tab. And did you read that the Investment houses like J.P. Morgan and Goldman Sachs made sure they had their best clients buy up the stock to thwart a rapid sell off ala Blackstone? It seems more like they were dumping it off to the ones more likely to be able to afford living with a dog with fleas. Who says they don’t have a heart?

And it was a big day on Wall Street. The Dow was up, the NASDAQ closed up over 4% It’s been a few years since they had that kind of gain, of course don’t forget that (more…)

Exxon Mobil Profits

Filed under: Bizarre News,Economy News — Tags: , , — Paddy Wallbouncer @ 11:07 pm 2008 February 1

40.6 billion is the highest annual profit for any American Company …ever. In a recent CNN story, Exxon Mobil said “for every $1 we earn, we pay $2.50 in taxes.” Hey, We’ve got the Futon Poncho, how can we get in on that deal? We’d would be happy to take out a loan to pay 100 million in taxes. Any takers? We’ll keep you informed of this and other entertaining news.

Emergency Rate Cut

Filed under: Business,Economy News,World — Tags: , , — Paddy Wallbouncer @ 9:18 am 2008 January 22

The Federal Reserve cut U.S. interest rates by three quarters of a percent. That is the federal funds rate or the interest rate that banks charge each other on overnight loans. The new rate is 3.5% down from 4.25%. This is the first emergency rate cut by the Fed since September 11, 2001.

International markets over the last two days experienced huge sell offs driven by fear of (more…)