Bill Gates Gets Trashy
Is Bill Gates getting trashy? Well, sort of… In a way, he has been trashy for a long time.
Bill Gates’s investment arm has waded into a brewing takeover battle between Waste Management Inc (WMI.N) and Republic Services Inc (RSG.N), asking Waste Management to walk away.
Just over a month after he left Microsoft Corp (MSFT.O), Gates’s BGI is lobbying the largest U.S. trash hauler to drop the unsolicited $6.2 billion bid it made this month for Republic, the third largest.
While his investment vehicles have stakes in dozens of companies, they have kept low profiles over the years and Gates has not traditionally been known as an activist investor.
It’s weird watching Bill Gates flexing his monetary muscles outside of the Microsoft arena. While this situation is causing quite a stink, I wonder if all his investments will get the same amount of attention now that he doesn’t have to go into the office each day?
Test Pattern #57: Who’s In Your Wallet?
Over the weekend, the Senate held an unusual Saturday session in order to pass the “Foreclosure Prevention Act of 2008″ or was it the “Housing and Economic Recovery Act of 2008″? No wait. Wait, wait, wait. It was the “American Housing Rescue and Foreclosure Prevention Act of 2008″. That’s it.
No matter what name they put at the top of this bill, and they had many to chose from, it’s nothing more than a 600 page document of how much Congress (and the President) have lost touch with the American people. It’s a 600 page guide on how to make the American people think you actually care about them during an election year.
Sphere: Related ContentChrysler Locks It Down
So, what’s the best way to eliminate risk in this “downturned” market? Chrysler thinks the best plan is to stop allowing people to lease vehicles. For the average person, leases are stupid anyway.
Chrysler LLC said its financing arm would stop offering vehicle leases to U.S. consumers, a sharp break in strategy in response to tighter credit and the plunging resale prices for gas-guzzling trucks.
The abrupt announcement on Friday afternoon was the latest sign of the stress on Chrysler from an industry downturn that has hit all automakers. Earlier this week, Chrysler said it would cut 1,000 white-collar jobs by the end of September.
Next week, they plan to stop offering basic credit as well. Heck, if you don’t have the money to pay it in full, you don’t need a new car, do you?
America’s Guitar?
Seen at the fail blog:
Wow.
Talula Doesn’t Like To Hula
I don’t know what’s worse…
A society full of people who actually give their children names like this.
A family court judge in New Zealand has had enough with parents giving their children bizarre names here, and did something about it.
Just ask Talula Does The Hula From Hawaii. He had her renamed.
Or the fact that they need a court system to stop them.
Now stop laughing. I am not a hypocrite. Slobokan is not the name on my birth certificate.
Three Stories. Any Shockers?
I’m not sure what the most shocking business headline of the day is… You decide.
Wachovia mortgage unit halting loans via brokers
Wachovia is planning to stop offering home loans through brokers. They claim they want to focus on customers who have “relationships” with the bank. When was the last time a bank focused on the customer and not their assets?
Bank of America profit falls 41 percent but tops views
How is it, that a companies profits can fall 41%, and still be seen as a good thing? Just think, if they hadn’t taken part in the whole sub-prime lending fiasco, they could have helped avert the crisis in the first place. But then again, I bet they don’t focus on their customers the way Wachovia does. (cough)
Apple outlook well below Wall Street view
What? I don’t get it. Apple is always conservative in their outlook. Why is anyone surprised they came in under Wall Street’s view? If you read the whole article you will find that along with their September forecast being low, they also forecast that their third-quarter income would come in at $1 per share. Wall Street analysts expected $1.08, and they came in at $1.19. I bet, come September, the numbers going to fall in line like it has every time in the past.
So, which one is the most shocking story of the day? Tell me.
What Really Caused The Mortgage Crisis?
This special message is sponsored by the letter “D” and the number ‘0′.
It’s no secret that Countrywide Home Loans, with the help of a shady mortgage broker, took advantage of a couple people I hold very dear to my heart.
Just over two years ago, they realized they had been duped into a mortgage they were not going to be able to afford. With the adjustable rate climbing, and the mortgage barely within their ability to pay, they took action trying to prevent disaster before it happened.
Over the course of these past two years, they tried working with Countrywide. Countrywide wanted no part of it. The only assistance Countrywide offered, was negotiating a new mortgage (which would have caused them to default even faster). They placed the house on the market immediately.
Because of the turn in the market, they couldn’t even get anyone to look at the house. Countrywide still ignored them. When they did receive an offer, they inquired about short-selling, but Countrywide slammed the door on that idea.
Nine months ago they were forced to walk away from the house. Countrywide gave them no choice. Several months ago, they foreclosed on the house. Last month, the house sold to another person for less than half what was owed on it.
And now? Countrywide actually sent them a letter telling them that their mortgage payment had been “adjusted” into a fixed 7.25% interest loan, with payments that were very reasonable, and in fact, affordable. One month after the house sold.
The people at Countrywide are “d”umbasses. They were screwing people over for years, and now they are sending out these fake “we’ll help you now” letters to convince the government they are actually trying to help them. They have to. It’s the only way they can guarantee that the government is going to help bail them out.
Countrywide was, and still is, run by a bunch of people with ‘0′ (zero) common sense. If they had actually helped the homeowners who didn’t want to walk away, rather than ignoring them, the mortgage “crisis” might not have become much of a crisis at all.
Crossposted at Slobokan’s Site O’ Schtuff.
Sphere: Related ContentSweet News From Texas
What happens when 5,000 gallons of molasses spills on a highway? I’m stuck for an answer.
A sticky mess has been cleaned up after an overturned tanker truck poured 5,000 gallons of molasses onto a major Texas highway.
Drivers heading to Sugar Land were rerouted Thursday after the afternoon accident shut down Texas 6 at Southwest Freeway for eight hours.
Molasses in Sugar Land. Haha. You couldn’t have scripted a better news story.
The Markets Go Up And Down Today
What a strange day in business.
Google reported disappointing earnings, and so did Microsoft. NASDAQ dropped a bit, but the Dow was pushed higher because Citigroup’s news wasn’t quite as bad as the other two.
Technology stocks fell on Friday and drove the Nasdaq down 1 percent on disappointing earnings from Google (GOOG.O) and Microsoft(MSFT.O), while Citigroup’s smaller-than-expected loss pushed up the Dow and helped keep the broader market near the unchanged mark.
Is the cause of our economic downturn Google’s fault? I know, crazy concept, but look at the facts.
Failing Can Be Funny
I love the fail blog.
