Archive for April, 2008

I understand the need to inform customers about the “big switch” that will be pulled in February of 2009, but most people who are buying new televisions already have cable and/or satellite boxes on their sets and therefore, the “big switch” will not affect them in the slightest.

U.S. regulators said on Thursday they imposed fines on retailers such as Wal-Mart and Sears along with two television suppliers for violating curbs on selling TVs that will not work easily after next year’s transition to digital television.

The Federal Communications Commission said the fines against Wal-Mart Stores Inc (WMT.N), Sears Holdings Corp (SHLD.O), Target Corp (TGT.N) and eight other companies were for violating rules designed to prevent consumers from unknowingly buying TVs that cannot receive digital signals when broadcasters make the switch on February 17, 2009.

I just find it odd that the FCC is handing out fines for selling legitimate products. Why isn’t the government focusing on the companies who are importing products tainted with lead? Wouldn’t their time and resources be better spent looking for real trouble?

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Absolut must have received an awful lot of phone calls. Too bad those phone calls couldn’t spur them to tell the truth.

The Absolut vodka company apologized Saturday for an ad campaign depicting the southwestern U.S. as part of Mexico amid angry calls for a boycott by U.S. consumers.

The campaign, which promotes ideal scenarios under the slogan “In an Absolut World,” showed a 1830s-era map when Mexico included California, Texas and other southwestern states. Mexico still resents losing that territory in the 1848 Mexican-American War and the fight for Texas independence.

…

“In no way was it meant to offend or disparage, nor does it advocate an altering of borders, nor does it lend support to any anti-American sentiment, nor does it reflect immigration issues,” Absolut said in a statement left on its consumer inquiry phone line.

The ad wasn’t meant to offend? Uh, right. It was meant to build national pride in Mexico. We get it.

The ad didn’t advocate the altering of the border? Uh, right. That must be why they didn’t change the lines on the map.

The ad didn’t lend support to any anti-American sentiment? Uh, right. That’s why their original statement said the ad was “relevant” to Mexicans who love the idea of reclaiming the land that the Americans stole.

Absolut hasn’t said a word since Saturday. Are they hoping this just goes away? It will go away eventually, along with their sales. Asta la vista.

Cross posted on Slobokan’s Site O’ Schtuff.

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You’ve heard the term “share the wealth”. Well, this is the same concept, only reversed.

The International Monetary Fund said Tuesday the worldwide losses stemming from the US subprime mortgage crisis could hit 945 billion dollars as the impact spreads in the global economy.

The IMF, in a particularly stark report, said that falling US housing prices and rising delinquencies on the residential mortgage market could lead to losses of 565 billion dollars.

Combined with other categories of loans originated and securities issued in the United States related to commercial real estate, the consumer credit market, and corporations “increases aggregate potential losses to about 945 billion dollars,” it said.

The estimated losses from the subprime debacle average to be $142 per person, worldwide. Ouch.

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Where did all the capital go? Capital is defined as “the wealth, whether in money or property, owned or employed in business by an individual, firm, corporation, etc.”. I understand that people are foreclosing left and right, and the subprime mortgage crisis is putting a kink in everything, but those houses are still there. The value of those houses have dropped, but they are still there. Aren’t they? So where did all the capital go?

Washington Mutual Inc (WM.N), the largest U.S. savings and loan, is close to obtaining a $5 billion injection from investors led by private equity firm TPG Inc, people familiar with the situation said on Monday.

An investment would ease the thrift’s need for capital as losses soar from subprime mortgages and other loans.

A transaction could be announced as soon as Monday, said the people, who declined to be named because they were not authorized to speak.

$5 billion is a lot of money. The fact that investors are pumping that much money into WaMu tells you exactly where all that capital has gone. Down the toilet.

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So you realize you need some extra cash and decide to steal all of the aluminum pans at the local Pizza Hut to make a little cash.

Pan pizzas are flying out the door at a local Pizza Hut restaurant. At least the pans are. Ardmore police say workers at the pizzeria arrived for work Thursday and discovered every pizza pan missing from the restaurant.

While workers borrowed pans to prepare pizzas for the day, police checked out a local scrap metal shop and determined one business paid about $17 for 30 aluminum pans.

If you really needed cash, wouldn’t you have removed something worth more than $17 from the Pizza Hut, like, anything else in the restaurant? What a dumbass.

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It’s a shame that something like this has happened.

A well-known Anchorage moose has been euthanized.

State wildlife biologist Rick Sinnott says he shot the aging bull moose known as Buzzwinkle after finding him severely emaciated and unable to get up in a Spenard lot.

The moose was at least 13 years old. Sinnott says the moose had badly worn teeth and an infected wound on his rump.

Buzzwinkle got his antlers tangled in a rope swing in a Turnagain yard in 2004 and was darted and tagged. He also managed to tangle Christmas lights in his rack.

The moose was dubbed Buzzwinkle in November after eating fermented crab apples.

With Christmas lights in his antlers, the animal stared off into the distance, leading observers to conclude he was drunk.

I wonder if the authorities notified next of kin, and if so, I wonder if Bullwinkle will be coming to the viewing.

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How much is your company really worth when the company trying to take it over decides to lower their bid?

Microsoft Corp is evaluating its bid for Yahoo Inc because the Internet company may have lost value since Microsoft made its offer, people familiar with the matter said on Friday.

The news, first reported by Reuters, sent Yahoo shares down more than 5 percent in extended trade.

After weeks of silence, recent comments from various sources to journalists suggest the software maker is hardening its stance and pushing Yahoo for action.

Ain’t it funny how everyone thinks the acquisition of Yahoo by Microsoft will ruin Yahoo, yet just a couple months ago everyone said Yahoo was worthless anyway?

I wouldn’t pay money for Yahoo. Then again, I wouldn’t pay money for a lot of things.

Also posted at The Alligator Pit

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If you don’t want to be embarrassed, you should make sure you read a proposed law before passing it.

Arkansas’ marriage-age crisis is over. A law that mistakenly allowed anyone — even toddlers — to marry with parental permission was repealed by a measure signed into law Wednesday by Gov. Mike Beebe, ending months of embarrassment for the state and confusion for county clerks.

Lawmakers didn’t realize until after the end of last year’s regular session that a law they approved, intended to establish 18 as the minimum age for marriage, instead removed the minimum age to marry entirely. An extraneous “not” in the bill allowed anyone who was not pregnant to marry at any age with permission.

Only lawmakers could bungle something like this the way they did. Can you imagine the number of girls around the age of 14, who are NOT pregnant, that are upset that they can no longer marry their 14 year old boyfriends.

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This news really shouldn’t come as a surprise to anyone who, well, you know, breathes. Of course the credit problems that are centered in the mortgage industry are going to trickle into all of the other consumer loan areas.

More Americans have fallen behind on consumer loans than at any time in nearly 16 years, as credit problems once concentrated in mortgages spread into other forms of debt.

In a quarterly study, the American Bankers Association said the percentage of loans at least 30 days past due rose to 2.65 percent in the fourth quarter from 2.44 percent in the third quarter, and from 2.23 percent a year earlier.

The rate of delinquencies was the highest since a 2.75 percent rate in the first quarter of 1992. It provides a fresh sign the nation’s economy is slowing, and may be in recession.

I have to give Reuters credit on this one, at least they are saying we “may be in a recession” since the economic data has not come in yet to state one way or the other. I imagine this whole late payment thing is only going to get worse as time goes on.

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It seems Wal-Mart is willing to do just about anything to get people to walk through the door these days.

Wal-Mart Stores Inc (WMT.N), looking to capitalize on consumers’ growing interest in sustainable coffees, is rolling out its own line of organic, Rainforest Alliance and fair trade certified coffees.

This month, the world’s largest retailer will begin selling six coffees under the Sam’s Choice brand in all of its U.S. stores.

The line includes Sam’s Choice Fair Trade certified coffee, Sam’s Choice Rainforest Alliance certified coffee, and Sam’s Choice USDA organic decaffeinated coffee.

Wal-Mart also said the six coffees are certified as “carbon neutral” because Cafe Bom Dia, its Brazil-based coffee roaster, has cut its net carbon emissions to zero.

Imagine how much better the world would be if Wal-Mart cared about it’s employees as much as it cares about it’s Brazil-based coffee roaster.

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