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paralleljulieverse · 6 years ago

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G’day Gertie: Star! debuts Down Under

After its global premiere in London and subsequent release to select international markets such as Japan, the Julie Andrews mega-musical Star! made its way to Australia in early-October 1968, fifty years ago this week. Release patterns for films in this era could be a little idiosyncratic, and the Australian release of Star! was no exception. The film was treated to two lavish “preview” premieres in Sydney and Melbourne on October 4 and 8, respectively, but didn’t open to the general public till October 24 with a premiere roadshow engagement at Melbourne’s Paris Theatre. Even more strangely, Melbourne was the only Australian city to screen Star! for the first six months. The film didn’t open in Sydney till 23 May 1969 with other Australian cities to follow.*

The three previous Julie Andrews film musicals –– Mary Poppins, The Sound of Music, and Thoroughly Modern Millie –– had all been major hits in Australia with Millie and Music still in theatrical release when Star! opened in late-1968. In point of fact, The Sound of Music enjoyed longer roadshow runs in Australia than anywhere else in the world: 181 weeks in Sydney (140 at the Mayfair before transferring to the Paris for a further 41 weeks), and 178 weeks in Melbourne (140 at the Paris, then transferring to the Esquire for a final 38 week run). By 1968, it was estimated that just under half the national population had seen The Sound of Music with more to come as the film entered suburban and regional release (Dale: 15; Keavney: 4-5).

As a result, Twentieth Century-Fox had high hopes Star! would do well in Australia and sent director Robert Wise on a special PR trip to the country to help launch the film. Accompanied by his wife, Patricia, Wise touched down in Sydney on 31 September 1968 where he was treated to a round of civic and industry receptions before officiating at a special gala invitation-only premiere of Star! on October 4 at Sydney’s Mayfair Theatre, home to The Sound of Music for so many years (“New Boom”: 18). The following week, Wise flew on to Melbourne for the second Australian premiere at the Paris Theatre, another Sound of Music alma mater, on October 8. While in Melbourne, Wise gave a host of press interviews and even helped the Lord Mayor lay a plaque for a new $4-million cinema complex in the city (Messer: 8; see also, Bennett: 14; Musgrove: 2; Veitch: 18).

As with the UK response, Australian critical reception of Star! was generally very positive. In Melbourne, Howard Palmer of The Sun wrote:

“Star! the Julie Andrews epic is indeed one of those films that a critic sees with relief, because he can let his his hair down and quite safely say it is wonderful in every way...Wise has put theatre on the screen better than anyone else before him...Julie Andrews gives the drama of the Lawrence love affairs so well...Add to this the many comic scenes of her early career....and you have a complete actress...It’s a wonderful film not to be missed” (27).

Alec Martin of the Melbourne Truth was equally enthusiastic:

“[I]f Gertrude Lawrence was alive today she would be the first to whistle and stamp her feet at...Miss Andrews’ brilliant performance in Star!...Miss Andrews sheds her wholesome Mary Poppins and Sound of Music image to play the glamorous, temperamental Gertrude Lawrence with perfection....Star! will be a box-office success, that’s for sure” (39).

Ronald Conway of Melbourne’s The Advocate declared Star! “[a]n agreeable, civilised musical...Julie Andrews sings and acts splendidly and it is a relief to see her in something other than Sound of Music which lasted at the Paris for ever so long...A handsome production to be enjoyed by patrons of all ages” (20). While Kay Mealun of The Australian Women’s Weekly gushed, “I found it rich and big and happy–– could have sat it through, three hours and all, all over again right away” (56).

Not all Australian reviews of Star! were as unreservedly laudatory, though even naysayers conceded the film had charm. Colin Bennett of The Age wrote that Star! “is well set in theatreland and reproduces...a series of splendid old favourites performed to perfection by Julie Andrews who looks fabulous and sings beautifully...But [she] lacks the bite of a Gertrude Lawrence. She is too fundamentally ‘nice’ and tasteful and efficient to be really insolent or bitchy” (6).

In a similar vein, Valda Marshall of The Sun Herald wrote:

“Star! is like an unrealised and long-forgotten musical script of the 30s...a conglomeration of vaudeville numbers, revue material and musical acts...It lacks a central sustaining interest [and] the star herself is without a unified character...Julie Andrews is...in top form. Her voice is as sure and strong as ever. Her acting still has the same unabashed directness and warmth. But the spark of mischievousness and spontaneity are missing” (87).

Charles Higham of the Sydney Morning Herald –– who summarily titled his mixed review, “Julie glitters but she isn’t Gertie Lawrence” –– declared Star! “a carefully made picture...with fine dramatic moments [but] there is something tame and bloodless about it...Julie Andrews in the title role...brings a brittle professionalism and impeccable coldness to a part that demanded vulnerability, anguish, a maddening neurotic edge. Impossible to imagine this athlete of the musical screen missing an appointment or failing to pay a bill, falling hopelessly and foolishly in love or singing out of tune” (6). Still, Higham mused in another column, “[o]ne hopes Sydney audiences will respond warmly to this very well-made film” (Higham: 19).

And, for the most part, Australian audiences did respond with comparative warmth to Star!. While the film didn’t score anywhere near the record-breaking success of The Sound of Music, it enjoyed respectable theatrical runs, playing in roadshow release in Melbourne for just under six months (23 weeks from 24 October 1968-26 March 1969) and in Sydney for five months (20 weeks from 23 May 1969-9 October 1969), two of the longest roadshow runs of Star! anywhere outside London (Davies: 198. 206; Louden: 6).

Star! also went on to a fairly solid theatrical after-life in Australia. The film avoided the debacle of post-release editing that occurred in North America and the full roadshow print screened in residual first release in suburban and regional Australian markets well into the early-70s. Star! even ran as a 70mm double-feature with Hello Dolly at Sydney’s Village Cinema City in late-1974. The film continued to pop up intermittently in subsequent years in repertory screenings. It played several times throughout the 1970s and 80s at Sydney’s Ritz and Mandarin cinemas. The National Library in Canberra hosted a special archival screening of Star! in March 1980, and the film was given a lavish one-week showcase season at Melbourne’s Astor Theatre in November 1998 to celebrate its 30th anniversary.

Star! was also a frequent feature on Australian TV screens. It made its national small screen debut as the Sunday Night Movie of the Week in October 1973 and was rebroadcast every few years thereafter: 1975, 1979, 1980, 1981, 1986 and 1989. As far as can be ascertained, the first two broadcasts were edited for running time, but most later broadcasts appear to have been the 176 min. roadshow release.

Notes:

* In a sign of the times, the delay of the Sydney release of Star! was due to the unexpected success of The Graduate which had been booked in to the Mayfair, Sydney’s “home” of Todd-AO roadshows. The theatre’s previous roadshow offering, Doctor Dolittle, closed earlier than anticipated and The Graduate was scheduled as a “filler” –– it ended up running at the Mayfair for 11 months (Louden, 6).

Sources:

Bennett, Colin. “Box Office Wisdom.” The Age Saturday Magazine. 5 October 1968: 14.

________. “New Films: Star.” The Age. 28 October 1968: 6.

Bishop, Barbara. “Julie Misses the Point.” The Sun. 25 October 1968: 14.

Conway, Ronald. “Star.” The Advocate. 31 October 1968: 20.

Dale, David. “The Tribal Mind: What Australians Love the Most.” The Sydney Morning Herald. 12 February 1999: 15.

Davies, Keith. 50 Years of Cinema and Movie’s in Melbourne’s CBD (1940 – 1989). Melbourne: (n.p.), 2016.

“Films on TV.” The Age Green Guide. 21 December 1978: 8.

Higham, Charles. “Star-Maker.” The Sydney Morning Herald. 5 October 1968: 18.

________. “Turmoil in Film City.” The Sydney Morning Herald. 24 May 1969: 19.

________. “Julie Glitters but she is not Gertrude Lawrence.” The Sydney Morning Herald. 26 May 1969: 6.

________. “Films like Mother Used to Cry Over.” The Sydney Morning Herald. 21 June 1969: 17.

Keavney, Kay. “‘The Sound of Music’ Greatest Film Bonanza.” The Australian Women’s Weekly. 36: 1, 5 June 1968: 4-5.

Louden, Doug. Sydney in 70mm. Sydney: (n.p.), 2016.

MacDonald, Dougal. “Julie Never Stops Being Julie.” The Canberra Times. 28 September 1969: 30.

Marshall, Valda. “It’s a Happening World: Star!” The Sun-Herald. 25 May 1969: 87.

Martin, Alec. “She is the True Star.” The Melbourne Truth. 2 November 1968: 39.

Melaun, Kay. “Julie as Gertrude.” The Australian Women’s Weekly. 36: 20, 4 December 1968: 56.

Messer, John. “From Horror to the Sound of Music––That’s Wise.” The Age. 8 October 1968: 8.

“Movies on TV.” The Sydney Morning Herald: TV Guide. 12 May 1975: 1.

“Movies on TV.” The Sydney Morning Herald: Monday Guide. 27 March 1978: 3.

“Movies on TV.” The Sydney Morning Herald: 7-Day Guide. 29 January 1979: 3.

“Movies on TV.” The Sun-Herald. 15 April 1984: 84.

Musgrove, Nan. “Two Women on His Mind.” The Australian Women’s Weekly. 36: 20, 16 October 1968: 2.

“New Boom for Star Musicals.” The Sydney Morning Herald. 1 October 1968: 18.

Palmer, Howard. “Julie Proves It.” The Sun Weekend Magazine. 26 October 1968: 27.

“Sunday TV.” The Age TV-Radio Guide. 30 March 1975: 8.

“Television.” The Age. 3 April 1980: 2.

“Television.” The Age. 28 August 1981: 2.

“Television.” The Age. 21 January 1989: 18.

“Today’s TV.” The Sun-Herald. 21 October 1973: 71.

Veitch, Jack. “Why Robert Wise Doesn’t Need to Work Again.” The Sun- Herald. 6 October 1968: 18.

“What Was the Name of that Film?” The Age. 8 October 1968: 16.

#julie andrews #Star!#star!50 #gertrude lawrence #Robert Wise #Twentieth Century Fox #musical #old hollywood #fiftieth anniversary #classic film #australia #film poster #film advertising #hoyts

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bloggingusaworld · 2 years ago

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Mega Millions Winner:Win Friday’s $284 Million Jackpot?

The $284 million Mega Millions jackpot will continue to grow because no one correctly picked all six numbers in the drawing on Friday night, November 26, resulting in a rollover on Tuesday, November 29.. Read More

#mega millions #powerball

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nerdmars · 6 years ago

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Bruno Mars comes home this week, but the pop music megastar’s welcome came five months ago, when his first two announced shows each sold out in a couple of hours. A third was added and sold out just as quickly, and now the moment his fans waited months for is finally here.

For the fourth time, the Roosevelt grad born here as Peter Hernandez is back, bringing his mega-successful 24K Magic World Tour to Honolulu for a little homestand.

This visit is his biggest yet, befitting of his ever-growing profile, as he revives Aloha Stadium as a viable concert facility with a venue-record three sold-out shows, capping a 213-concert tour that spanned six continents, 38 countries and nearly two years.

About 110,000 fans will attend the three shows, reinforcing the pop-music superstar’s description of his home state in a 2011 web documentary.

“They got love, man,” Mars said then. “Hawaii … this place is the best.”

Hawaii earns the nickname “The Aloha State” in many ways. From the lei we give out on special occasions to the way we always make sure our potlucks have too much food rather than too little. From the aloha shirts many businessmen favor over three-piece suits to the way we welcome guests — both into our state and into our homes.

But some of our greatest aloha is expressed in the way we support our own.

24K MAGIC WORLD TOUR >> Where: Aloha Stadium >> When: 7 p.m., Nov. 8, 10 and 11 (doors open at 5:30 p.m.) >> Tickets: $49.50 and up, available at Ticketmaster.com >> Guest acts: Charlie Wilson (Nov. 8); The Green and Common Kings (Nov. 10 and 11) Every Little League team that makes it to the World Series — which only seems to happen every other year — gets the full weight of the state behind it. When Mililani’s Jasmine Trias and Maui’s Camile Velasco were “American Idol” finalists, the show became appointment television from Kalapana to Kekaha, and our telephone votes carried Trias to a third-place finish.

So when one of our own becomes perhaps the biggest pop star in the world? Well, it’s like we ourselves are along for the ride — singing along to every No. 1 song, gushing over every Super Bowl halftime show, celebrating every Grammy Award win.

And when that pop star comes home for a visit? We throw the biggest party we can.

The hoolaulea for Hawaii’s own Bruno Mars begins Thursday at Aloha Stadium. It lasts for three concerts across four nights, with more than 100,000 of his closest friends having already RSVP’d, “Hell yes.”

BRUNO BY THE NUMBERS >> 19: Top 40 singles >> 11 million: Albums sold >> 79 million: Singles sold >> 7: No. 1 singles as a performer >> 8: No. 1 singles as a songwriter >> 32: Weeks spent at No. 1 on the Billboard Hot 100 >> 32: Countries where Mars has had a No. 1 single >> 11: Grammy Awards won >> 27: Grammy nominations >> 14.049 billion: Total YouTube views for Bruno Mars’ official music videos 24K MAGIC WORLD TOUR >> Miles traveled: 113,201 >> Days: 594 >> Shows: 213 >> Continents: 6 >> Countries: 38 >> States: 29 >> Cities: 123 >> Stops: 141

Take away something as simple as birthplace and Mars is still very much the kind of pop megastar Hawaii fans would love. Start with the fact that he’s half Filipino. So rare has it been for us to see Asians and Polynesians in the national limelight that we grab on for dear life when one — be it in music, movies or sports — rises to national or worldwide prominence, even if he’s not from Hawaii. A Steve Perry-less Journey would not sell out one concert here if it weren’t led by Arnel Pineda, a singer from the Philippines. In the world of sports, Ichiro Suzuki, Troy Polamalu and Jeremy Lin were local faves.

But the “half” in Mars’ ethnic makeup is as important as the “Filipino” to a state that has three times as many multiracial residents per capita as any other state, for we also pride ourselves on our multiculturalism. Sure, racial prejudice exists in Hawaii, but we’re still the state with the most ethnic variety, and Mars embodies that diversity — his father is most prominently Puerto Rican and Jewish and his late mother was Filipino, but he has flecks of other ethnicities laced in with those. For a state of “poi dogs,” one moving the most assuredly toward a true post-racial society, who better to identify with than a pop star who defies racial categorization?

And Mars is a big enough star that even if he wasn’t from Hawaii, the coming shows would be significant. That said, the fact that Mars is “one of us” certainly adds to the fervor surrounding his arrival on these shores this week. And let’s face it — he probably wouldn’t be coming here if he weren’t from here. Honolulu is on one of its greatest runs of concerts in many years, but while more and more stars are finding their way to our islands, the biggest are not visiting at their peak the way Mars is. We’re getting some great acts, but we’re not getting the Taylor Swifts, the Ed Sheerans, the Beyonces of contemporary pop music. Will that change? Mars’ three sellouts seem to have opened the door to more shows at the stadium, with the Eagles and Guns N’ Roses due in December, and there are rumblings that other stars could be on their way.

Whatever happens down the road, with Mars coming to town, Honolulu for once is included in a worldwide tour by an artist in the upper stratosphere. Mars’ 24K Magic Tour has sold well past 2 million tickets worldwide, with revenue surpassing $250 million. The album it was named after was the second-best seller of 2017. Overall, Mars has certified sales of more than 90 million records/downloads in the U.S. alone less than a decade after he put himself on the map with a smooth guest spot on rapper B.o.B.’s chart-topping “Nothin’ on You.”

All of which serves as a reminder of another reason Hawaii loves Bruno: He always remembers where he came from.

BACK TO WHERE IT ALL STARTED

ALBUMS

“Doo-Wops & Hooligans” (2010) >> Peak: No. 3 >> Sales: 5 million copies >> Singles: “Just the Way You Are” (No. 1 for 4 weeks, 9 million); “Grenade (No. 1 for 4 weeks; 7 million); “It Will Rain” (No. 3, 3 million); “The Lazy Song” (No. 4, 3 million)

“Unorthodox Jukebox” (2012) >> Peak: No. 1 >> Sales: 4 million copies >> Singles: “Locked Out of Heaven” (No. 1 for 6 weeks, 6 million); “When I Was Your Man” (No. 1 for 1 week, 6 million); “Treasure” (No. 5, 3 million)

“24K Magic” (2016) >> Peak: No. 2 >> Sales: 2 million copies >> Singles: “That’s What I Like” (No. 1 for 1 week, 7 million); “Finesse feat. Cardi B” (No. 3, 3 million); “24K Magic” (No. 4, 5 million)

Other singles >> “Uptown Funk” by Mark Ronson featuring Bruno Mars (2015, No. 1 for 14 weeks, 11 million) >> “Nothin’ on You” by B.o.B. featuring Bruno Mars (2010, No. 1 for 2 weeks, 3 million) >> “Billionaire” by Travie McCoy featuring Bruno Mars (2010, No. 4, 2 million) >> “Lighters” by Bad Meets Evil featuring Bruno Mars (2011, No. 4, 2 million) >> “Young, Wild & Free” by Snoop Dogg & Wiz Khalifa featuring Bruno Mars (2012, No. 7, 4 million)

Sources: Billboard Magazine, Recording Industry Association of America

The pop superstar born in Honolulu as Peter Hernandez has brought his show to town for the tours following all three of his albums, with each visit growing on pace with his skyrocketing career — from one sold-out show at Blaisdell Arena to three there and now three at Aloha Stadium, a venue with about four times the capacity of the arena. For his hometown fans, it was a long wait through a tour that has gone on for almost two years, but in the end he did not forget about us.

Mars’ backstory is well-known, and it both adds to the Bruno Mars mythology and makes him that much more likable.

He started his career as a 4-year-old Elvis impersonator in Waikiki and entertained at hotel shows throughout his youth. During a “60 Minutes” profile in November 2016, he also recollected, with no negativity or sense of self-pity, how he spent part of his childhood homeless, living with his father and brother in an abandoned shack in Manoa Valley.

Mars has credited his humble beginnings for his work ethic and his start in Waikiki for his broad appeal.

“Because of my upbringing performing for tourists, I had to entertain everyone. Not just black people, not just white people, not just Asian people, not just Latin people. I had to perform for anybody that came to Hawaii,” Mars told Rolling Stone for a November 2016 cover story. (Mars had not granted the Star-Advertiser an interview at press time.)

That requirement to entertain all comers has also resulted in a command of various musical styles. His latest album, 2016’s “24K Magic,” is pretty much a straight-up tribute to old-school R&B and funk, but his prior two albums showed off his versatility as a singer and his dexterity at crossing genres, with forays into belted balladry (the soaring yet somber “When I Was Your Man”); post-punk reggae-rock (the Police-inspired “Locked Out of Heaven”); folksy, island-inflected pop whimsy (“The Lazy Song”); and even an amalgam of styles including Motown and surf rock (“Runaway Baby”).

Those songs and those sounds all come from Bruno. In an era in which so many pop stars lean on hitmakers such as producers Max Martin and Benny Blanco, Mars has had a hand in writing and producing every song he’s appeared on. He works with outside producers at times — most notably Mark Ronson, with whom he recorded the megahit “Uptown Funk” — but compared with his peers, such collaborations are minimal. More commonly, Mars and his production teams — previously The Smeezingtons and now Shampoo Press & Curl — work in the opposite direction, shepherding hits for such artists as Adele (“All I Ask”) and CeeLo Green (“Forget You”), the former earning him one of his 11 Grammys.

SHOWMAN BRINGS THE MAGIC

Mars takes that same hands-on approach with his dancing, that extra something-something that takes him from star musician and singer to maybe the best showman currently working, a worthy successor to great entertainers such as James Brown and Michael Jackson.

Phil Tayag, one of the founding members of the renowned hip-hop dance crew the Jabbawockeez, works with Mars on many of his routines — peep him in the video for “Finesse,” among others — but won’t go so far as to call himself Mars’ choreographer.

“He’s not one of those artists that just wants somebody to prepare something for him,” Tayag told MTV.com in January. “We build everything together. He is very involved in all aspects of what he does when it comes to music production and everything. So it’s the same with dancing and creating and choreographing — super involved. … I was thinking in the beginning that he was just one of these artists that wants to be fed this choreography and all that, but he’s not. He’s super involved in everything, so we create together. He is a choreographer as well.”

The choreography is one part of translating powerfully sung songs to a live platform. Mars sees the brotherhood — in one case literal — he shares with his eight-piece band, the Hooligans, as an even more essential part.

“I think the best part of our show is that you can tell that we’re all friends up there,” Mars said in a documentary short posted to his YouTube page, “and you go in thinking, like, ‘Oh, OK, I’m gonna go see this guy sing these love songs,’ but then you kinda get a treat, you get … one of my best friends, (sideman and writing partner) Philip Lawrence, and me and him are just having the time of our life. You got my brother (Eric Hernandez) on drums, and I think that’s where the magic happens.”

BRUNO TIMELINE

>> Oct. 8, 1985 — Born Peter Hernandez in Honolulu.

>> Feb. 14, 1990 — Graces the cover of Midweek at a mere 4 years old, drawing attention for his gig as an Elvis impersonator at the Esprit Nightclub at the Sheraton Waikiki. Mars goes on to appear in costume in the Aloha Bowl halftime show in December and in the Nicolas Cage film “Honeymoon in Vegas” two years later.

>> June 7, 2003 — Graduates from Roosevelt High School. Soon after, he moved to Los Angeles to pursue a career in music.

>> Feb. 8, 2009 — “Right Round” by Flo Rida (featuring an uncredited Kesha) becomes Mars’ first No. 1 hit as a songwriter (six other writers and the band Dead or Alive share credit).

>> May 1, 2010 — “Nothin’ on You,” a collaboration with rapper B.o.B., becomes Mars’ first No. 1 single as a performer. Five months later, “Just the Way You Are” becomes Mars’ first fully solo chart-topper.

June 15, 2010 — Network TV debut on “The Tonight Show with Jay Leno.”

>> Oct. 4, 2010 — Debut album “Doo-Wops & Hooligans” is released.

>> Dec. 19, 2010 — Plays a sold-out show at the Blaisdell Arena.

>> Feb. 13, 2011 — Wins first Grammy Award, for best male pop vocal performance for “Just the Way You Are”

>> October 20, 2012 — Hosts “Saturday Night Live” and serves as musical guest, one of only 25 performers ever to do double-duty. (He also appears as a musical guest only on Oct. 9, 2010, Nov. 22, 2014 and Oct. 15, 2016.)

>> March 16, 2013 — “Unorthodox Jukebox” becomes Mars’ first (and so far only) U.S. No. 1 album.

>> June 1, 2013 — Mother, Bernadette Bayot, dies of a brain aneurysm at age 55. Mars told Latina magazine in 2017, “She’s more than my music. If I could trade music to have her back, I would.”

>> Feb. 2, 2014 — Wows the world as the lead Super Bowl XLVIII halftime performer, with a guest appearance by the Red Hot Chili Peppers. (He returned two years later at Super Bowl L as a guest with Beyonce at the request of main act Coldplay.

>> April 18-21, 2014 — Plays three sold-out shows at Blaisdell Arena.

>> Jan. 17, 2015 — “Uptown Funk,” a collaboration with British producer Mark Ronson, spends the first of 14 weeks at No. 1, tied for third-most in Billboard history.

>> July 4, 2015 — Performs at the White House as part of President Barack Obama’s Independence Day celebration.

>> Nov. 20, 2016 — CBS news program “60 Minutes” airs a segment on Mars, his roots in Hawaii and his rise to fame.

>> Dec. 13, 2016 — Appears on the “Carpool Karaoke” segment of “The Late Late Show with James Corden.” About 50 segments have aired and Mars’ is among the most viewed on the internet.

>> Nov. 29, 2017 — His special, “Bruno Mars: 24K Magic Live at the Apollo,” airs on CBS.

>> Jan. 28, 2018 — Wins six Grammys, including the big three of album, record and song of the year, bringing his career total to 11 Grammys.

>> June 9 and 16 and Aug. 3, 2018 — Three shows at Aloha Stadium this month sell out within hours.

#Bruno mars #article #24kmagic #24kmagic tour #hawaii #aloha stadium #finale

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newstfionline · 4 years ago

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Thursday, April 29, 2021

Biden to propose free preschool, as speech details emerge (AP) President Joe Biden will call for free preschool for all three- and four-year-old children, a $200 billion investment to be rolled out as part of his sweeping American Families Plan being unveiled Wednesday in an address to Congress. The administration said the historic investment would benefit 5 million children and save the average family $13,000. It calls for providing federal funds to help the states offer preschool, with teachers and other employees earning $15 an hour. The new details are part of Biden’s $1 trillion-plus package, an ambitious next phase of his massive infrastructure investment program, this one focused on so-called human infrastructure—child care, health care, education and other core aspects of the household architecture that undergird everyday life for countless Americans. Together with Biden’s American Jobs Plan, a $2.3 trillion infrastructure investment to be funded by a corporate tax hike, they add up a whopping $4 trillion effort to fulfill his campaign vow to Build Back Better.

Navy SEALs to shift from counterterrorism to global threats (AP) Ten years after they found and killed Osama bin Laden, U.S. Navy SEALs are undergoing a major transition to improve leadership and expand their commando capabilities to better battle threats from global powers like China and Russia. The new plan cuts the number of SEAL platoons by as much as 30% and increases their size to make the teams more lethal and able to counter sophisticated maritime and undersea adversaries. That decision reflects the broader Pentagon strategy to prioritize China and Russia, which are rapidly growing their militaries and trying to expand their influence around the globe. U.S. defense leaders believe that two decades of war against militants and extremists have drained resources, causing America to lose ground against Moscow and Beijing.

Scientist: Extent of DDT dumping in Pacific is ‘staggering’ (AP) Marine scientists say they have found what they believe to be more than 25,000 barrels that possibly contain DDT dumped off the Southern California coast near Catalina Island, where a massive underwater toxic waste site dating back to World War II has long been suspected. The 27,345 “barrel-like” objects were captured in high-resolution images as part of a study by researchers at the University of California San Diego’s Scripps Institution of Oceanography. They mapped more than 56 square miles (145 square kilometers) of seafloor between Santa Catalina Island and the Los Angeles coast in a region previously found to contain high levels of the toxic chemical in sediments and in the ecosystem. Historical shipping logs show that industrial companies in Southern California used the basin as a dumping ground until 1972, when the Marine Protection, Research and Sanctuaries Act, also known as the Ocean Dumping Act, was enacted. Disposing of industrial, military, nuclear and other hazardous waste was a pervasive global practice in the 20th century, according to researchers. The long-term impact on marine life and humans is still unknown, said Scripps chemical oceanographer and professor of geosciences Lihini Aluwihare, who in 2015 co-authored a study that found high amounts of DDT and other man-made chemicals in the blubber of bottlenose dolphins that died of natural causes.

Electric Vehicle Appeal Loses Steam (Nature.com/ArsTechnica) California is the largest market in the US for plug-in vehicles. But a new study in Nature Energy has found that about 20% of those early electric vehicle adopters have given up their EVs to return to fossil fuel-powered transport. Survey responders said what they liked most about their plug-ins were recharging costs, reliability, and safety. What they liked least were the driving range and convenience of charging. Not surprisingly, those who decided to keep their EVS had more access to level 2 charging (240 V AC) at home, as well as more access to charging generally.

The real crisis along the U.S.-Mexico border (Washington Post) There’s a crisis along the U.S.-Mexico border, but it isn’t the crisis that the media has been covering and that the Republican governors of Arizona and Texas recently blamed on President Biden. The crisis I’m talking about is the one that is eroding the livelihoods of U.S. citizens on the borderlands. Just ask Blanca Gallardo, 45, or her colleague Ivan Caballero, 39, two of the three workers left at La Familia, a mega-discount store in the border city of Nogales, Ariz. The store once employed 24 people. La Familia occupies a prime piece of real estate on Morley Avenue, Nogales’s Main Street. Like other retail businesses on and around this thoroughfare, La Familia depends almost entirely on shoppers who live on the other side of the border fence a short walk away—Mexicans who have not been allowed to enter the United States since March last year, when land ports of entry were closed to visa-carrying nonessential travelers in an effort to contain the coronavirus pandemic. The result has been devastating. Sheriff David Hathaway, a lifelong Nogales resident and the top law enforcement official in Santa Cruz County, one of four border counties in Arizona, said that 90 percent of local businesses have shut their doors and may never reopen. “There is no migrant crisis,” Hathaway told me. “What we have is a big economic crisis.” That’s not just a Nogales problem, though. One downtown merchant in the border city of El Paso told Border Report in November that his store had lost as much as 90 percent of its customers since last March.

López Obrador’s bid to alter Mexican Supreme Court seen as threat to judicial independence (Washington Post) He won the presidency in a landslide. His party dominates Congress. Now, Mexican President Andrés Manuel López Obrador is in a battle over the country’s judiciary, as opponents and legal analysts accuse him of making an unconstitutional power grab. Lawmakers from López Obrador’s party have triggered outrage by voting to add two years to the four-year term of the Supreme Court chief justice, Arturo Zaldívar. Zaldívar is generally regarded as sympathetic to the president. As in the United States, where some Democrats want to expand the U.S. Supreme Court, there are fears that the judiciary is becoming increasingly politicized. But the Mexican measure carries especially grave implications, analysts say, because it appears to violate a constitutional limit on the chief justice’s term. López Obrador is increasingly challenging institutions created as part of Mexico’s transition to democracy, including the national elections board and the freedom-of-information institute. Critics worry that the president, who came to power as a leftist political outsider, could use his popularity to reestablish elements of the one-party system that reigned here for seven decades.

With pools closed, Peruvians turn to open-water swimming (AP) The swimmers began gathering even before dawn glimmers on Pescadores beach, plunging into the Pacific surf for one of the few athletic endeavors permitted under Peru’s strict pandemic restrictions. Swimming pools have been closed for more than a year, but government has since Oct. 30 allowed open-water swimming, even if relaxing on the beach is banned to prevent mass gatherings. Forty-three-year-old Lorena Choy said swimming “relaxes me, unstresses me. ... It helps a lot psychologically.” Swimming coach Víctor Solís, 47, said he estimated that the number of swimmers out each morning has multiplied fivefold recently.

UK to come under scrutiny in Italy’s largest mafia trial in decades (The Guardian) In a high-security, 1,000-capacity courtroom converted from a call centre, Italy’s largest mafia trial in three decades is under way in Lamezia Terme, Calabria. About 900 witnesses are set to testify against more than 350 defendants, including politicians and officials charged with being members of the ‘Ndrangheta, Italy’s most powerful criminal group. Several of the defendants will be asked to respond to charges of money laundering over establishing companies in the UK with the alleged purpose of simulating legitimate economic activity. The ‘Ndrangheta—based in the southern region of Calabria, the toe of the Italian boot—is reputed to be one of the richest and most feared criminal organisations in the world. A study by the Demoskopita Research Institute in 2013 estimated its financial strength as more than that of Deutsche Bank and McDonald’s combined, with an annual turnover of €53bn (£44bn). Investigators say the secret of its success lies in its ability to connect the underworld with the upper world, where often the “upper world” stands for London. In the last decade, hundreds of investigations have asserted how the ‘Ndrangheta has laundered billions of euros in the City.

The U.S. Built the Afghan Military Over 20 Years. Will It Last One More? (NYT) President Biden’s decision to withdraw from Afghanistan by Sept. 11, the 20th anniversary of the terrorist attacks that first propelled the United States into conflict, has prompted deep fears about the Afghan security forces’ ability to defend what territory remains under government control. For nearly two decades, the United States and NATO have engaged in the nation-building pursuit of training, expanding and equipping Afghanistan’s police, army and air forces, spending tens of billions of dollars in an attempt to build government security forces that can safeguard their own country. But despite this enormous effort, the undertaking has only produced a troubled set of forces that are woefully unprepared for facing the Taliban, or any other threat, on their own. What comes next is anything but certain. The Taliban already control vast amounts of the country, even with American military power present. Afghan units are rife with corruption, have lost track of the weapons once showered on them by the Pentagon, and in many areas are under constant attack. Some soldiers have not been home in years because their villages have been overtaken by the Taliban. Prospects for improvement are slim, given slumping recruitment, high casualty rates and a Taliban insurgency that is savvy, experienced and well equipped—including with weapons originally provided to the Afghan government by the United States.

In India, Illness Is Everywhere (NYT) Crematories are so full of bodies, it’s as if a war just happened. Sickness and death are everywhere. Dozens of houses in my neighborhood have sick people. One of my son’s teachers is sick. The neighbor two doors down, to the right of us: sick. Two doors to the left: sick. I’m sitting in my apartment waiting to catch the disease. That’s what it feels like right now in New Delhi with the world’s worst coronavirus crisis advancing around us. India is now recording more infections per day—as many as 350,000—than any other country has since the pandemic began, and that’s just the official number, which most experts think is a vast underestimation. New Delhi, India’s sprawling capital of 20 million, is suffering a calamitous surge. A few days ago, the positivity rate hit a staggering 36 percent—meaning more than one out of three people tested were infected. A month ago, it was less than 3 percent. The infections have spread so fast that hospitals have been completely swamped. Although New Delhi is locked down, the disease is still rampaging.

US Navy fires warning shots in new tense encounter with Iran (AP) An American warship fired warning shots when vessels of Iran’s paramilitary Revolutionary Guard came too close to a patrol in the Persian Gulf, the U.S. Navy said Wednesday. The Navy said the USS Firebolt fired the warning shots after three fast-attack Guard vessels came within 68 yards (62 meters) of it and the U.S. Coast Guard patrol boat USCGC Baranoff. The incident Monday marked the second time the Navy accused the Guard of operating in an “unsafe and unprofessional” manner this month alone after tense encounters between the forces had dropped in recent years.

Hong Kong passes immigration bill, raising alarm over ‘exit bans’ (Reuters) Hong Kong’s legislature passed on Wednesday a controversial immigration bill, which lawyers, diplomats and right groups fear will give authorities unlimited powers to prevent residents and others from entering or leaving the Chinese-ruled city. The government has dismissed those fears as “complete nonsense,” saying the legislation, which will come into effect on Aug. 1, merely aims to screen illegal immigrants. The assurances, however, come in a climate of mistrust after the increasingly authoritarian path officials have taken the imposition of a sweeping national security law by Beijing last year. Lawyers say the new law will empower authorities to bar anyone, without a court order, from entering or leaving Hong Kong—essentially opening the door for mainland China-style exit bans—and fails to prevent indefinite detention for refugees. The Hong Kong Bar Association (HKBA) said in February the bill failed to explain why such powers were necessary, how they would be used and provided no limit on the duration of any travel ban, nor any safeguards against abuse.

#headlines #news

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crispypuppydreamer · 4 years ago

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Worm For Mac

The most threatening aspect of computer worms as a type of malware is that they are self-replicating. Where viruses sometimes need to hook up to a specific type of computer program or be actively controlled by a hacker in order to work, worms are so dangerous because they start cloning themselves pretty much the moment they hit your computer. The goal of worms is twofold: first, they seek to exploit known vulnerabilities in an operating system; second, they seek to spread as far as they can, using computer networks, email attachments, file sharing networks, and any number of other methods to move from one computer system to the next.

Mary Mac's Tea Room: 70 Years of Recipes from Atlanta's Favorite Dining Room. By John Ferrell Jul 13, 2010. 4.6 out of 5 stars 88. Hardcover $29.99 $ 29. FREE Shipping by Amazon. In stock on November 13, 2019. More Buying Choices $1.98 (40 used & new offers). Start quickly with the most recent versions of Word, Excel, PowerPoint, Outlook, OneNote and OneDrive —combining the familiarity of Office and the unique Mac features you love. Work online or offline, on your own or with others in real time—whatever works for what you’re doing.

Super Mega Worm is the Mac version of the retro-looking iOS arcade game of the same name, in which you control a giant bloodthirsty worm that's out to wreak some (cartoonishly) gory eco-vengeance. Download Malwarebytes for Mac (the free version) and you get a 14-day trial of the premium version with automatic (real-time) virus and malware protection. After 14 days, your trial reverts to a limited disinfection scanner. Buy the premium version now to prevent infection in the first place.

What Worms Are Used For: An Example

That’s not to say that worms are exactly the mindless cancer of the computer world. On the contrary, these malicious programs do send data back to a control server, and they can be controlled to help hackers achieve specific goals.

For instance, when a website goes down as part of a DDoS (Distributed Denial of Service) attack, the root cause is often a worm that has infected a large number of machines. The hacker who created the worm is then able to create a botnet army with these compromised computers, and can use them to flood a specific target site with huge amounts of traffic or data, essentially killing the bandwidth of the target and resulting in a denial of service for the site.

DDoS attacks are difficult to protect against for website administrators, simply because the attack is coming from so many different sources. All of the machines infected with the worm are essentially part of the attack, making it impossible to block specific IP addresses or even distinguish legitimate traffic from malicious traffic.

Worms in History

One of the most notorious computer worms in history was also one of the first. Written by a graduate student at Cornell University, the worm in question—called the Morris worm—was launched in November 1988, and quickly spread from computer to computer. Like other worms since, the Morris worm operated by exploiting known vulnerabilities in a specific operating system—in this case, Unix. Though originally intended as a harmless technology test, the worm was coded in such a way that it would infect some computer systems more than once, which resulted in computer crashes, denial of service attacks across the Internet, and potentially up to $10 million in damage.

The estimate is that the Morris worm infected about 10% of the computers connected to the Internet at the time. While it’s unlikely that a worm could ever have such a far-reaching impact today—thanks to our knowledge of worms and the cyber-security safeguards that are in place on most computers and networks—it’s still frightening to think of the kind of a damage that a worm could do if it infected 10% of the Internet in 2015.

Worms on Mac OS X

Luckily for Mac users, worms still haven’t really made their way to OS X. In the past few years, we’ve seen a huge increase in the number of trojan horses, keyloggers, and other types of malware that can infect machines running Mac OS X. However, a Google search for “Mac worms” should reveal that there are no major worm infections to worry about on Mac… yet.

According to a Wired article published in August 2015, researchers have created “the first firmware worm that attacks Macs.” What this article essentially proves is that there is nothing about Macs on either a hardware or software level that will prevent worms from infecting OS X computers or spreading from one Mac to the next. A firmware worm hell-bent on attacking Macs could be particularly damaging, since, as the Wired piece notes, fixing the issue would require users to open up their Macs and “electrically reprogram the chip.”

Worm Machine Stardew

Granted, not all worms would impact a Mac’s firmware. Firmware consists of programs or data that are installed to a system’s read-only memory (ROM), after which they cannot be removed. Many worms, while dangerous and destructive, do not have this level of permanence. Still, the point is that the potential is there for Macs to be hit with a catastrophic worm attack.

Machine Armyworm

So how can you protect yourself from worm infection? Since worms exploit known operating system vulnerabilities, always keeping your Mac fully up-to-date with all updates and security patches should reduce the likelihood of a worm being able to exploit your machine. Beyond updates, just use common sense in using the Internet: don’t open emails or attachments from people you don’t know or don’t trust, don’t use public file sharing networks, don’t click on links that look spammy, and always run firewall and antivirus software on your system.

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preciousmetals0 · 5 years ago

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$150 Billion Cryptocurrency Boom Is Here – Buy This ETF to Profit

$150 Billion Cryptocurrency Boom Is Here – Buy This ETF to Profit:

Story Highlights:

Bitcoin is on track to hit $50,000 as early as next year.

This exchange-traded fund is your best opportunity to buy into the cryptocurrency mega trend that is already trading 27% above the price of bitcoin.

Tesla’s new “Cybertruck” is giving the Ford F-150 pickup a run for its money.

How high will pot stocks rise, now that they’ve hit bottom?

Gold. Silver. Coins. Paper dollars.

If you could line your pockets with any of these valuables, which would be the best choice?

The surprising answer: None of the above.

In fact, blockchain-based cryptocurrencies are becoming the new-world digital money — with bitcoin on track to hit $50,000 to $100,000 by the end of next year.

In today’s Bold Profits video, Paul Mampilly joins me to explain why. And to tell you about the best way you can start investing in this mega trend today before bitcoin surges higher in 2020.

[embedded content]

Click Here to View Full Transcript

Bold Profits Daily November 29, 2019

Paul Mampilly: It’s Paul on the Iancast again. I’m hijacking this permanently.

Ian Dyer: Fine with me. We have good discussions.

Paul: With Market Talk I’m always trying to keep it tight down to three to five minutes. I have a lot of competition between Hudson and Amber. On this one, we’re going to do it long. How about that? Ian: Sounds good.

Paul: Let’s start with dramatic news. You and I never sleep. I know you were up watching Bitcoin hit $6,500.

Ian: The whole time, yes. It bounced. The Bakkt futures we talked about last week, the expiration date came into play there. Bitcoin fell to below $7,000, then it bounced and went a little lower.

Again, around these expiration dates in the futures, all these new Bitcoins are being sent out from the actual futures company to all the investors. It creates an immediate supply that can have an effect on price.

Paul: Long term, I don’t know anybody who would ever want to be short those futures. You’d have to deliver something of a fixed quantity. I remember seeing analysis that something like 30-40% of Bitcoin are being HODLed. Hold on for dear life, that’s what HODL means.

The crypto world has its own language. We have HODL. We have FUD.

Ian: That’s fear, uncertainty and doubt, right?

Paul: Time to lambo for time to move. So 40% of all Bitcoin approximately is being HODLed. I read analysis on The Block, which is a website where they do crypto analysis, that hedge funds are short Bitcoin. This sounds crazy to me.

Ian: Me too. There’s a lot of questions around it. When you look at all these hedge fund managers that are into traditional investments like 60% stock and 40% bonds. Bitcoin doesn’t fit anywhere in there and they don’t know what to do with it. They don’t’ think it will ever overtake gold as a safe haven asset.

There’s a lot of naysayers out there still which is surprising considering it’s survived for 10 years now — almost 11 — and it started out as a fraction of a penny and has grown into a $150 billion asset class all on its own with no promotion other than word of mouth. It’s amazing what it has done so far. It’s an alternative currency.

Paul: Exactly. Both Ian and I are on the record of seeing Bitcoin at much higher numbers. Ian has a $50,000 by end of 2020. Is that right?

Ian: Yes, $50,000 next year and somewhere around $100,000 in 2021.

Paul: I think that’s conservative. I think we might hit $100,000 maybe even by the end of 2020. Here’s why. To me, Bitcoin is the first exponential asset. It runs off a digital mechanism rather than a lineal mechanism which is the stock market, the bond market. In other words, it requires human intervention.

If you think about gold, you have to go dig it out of the ground. There’s a whole process. Bitcoin is completely digital. There’s no physical element to it. It can exponentially grow and it’s already done that. This is why it has so much skepticism because there’s never been an exponential asset in history — this is asset number one. It’s going to be the most valuable.

Ian: There’s never been something like these halving events in any asset before. When the supply is limited by this much on one specific day, that day has a lot of say in the future of Bitcoin. We’ve seen that because after the past few halving events, there’s a gigantic rally by thousands of percent after the supply is cut.

Paul: I went back and modeled the Litecoin halving event to Bitcoin. For sure, it’s setting up to be a minimum of $25,000 to $30,000 the way it models. Most of the people who believe in Bitcoin largely never bat an eye at the volatility. It’s the disbelievers who come to really give us a lot of grief about it.

Ian and I believe in Bitcoin. We think Bitcoin is going to the moon. Everyone can make their own judgment. There is that one indicator that we both track. We should tell people about it.

Ian: A company called Grayscale has their own Bitcoin trust. They own a lot of Bitcoin and sell it as a fraction on the stock market. You can buy shares of the trust backed by Bitcoin. It’s a way of buying Bitcoin on the stock market, which is really interesting and not a lot of people know it exists.

We’ve seen all these headlines and rumors of a Bitcoin ETF, but there already is one and it doesn’t get that much press. It gives us a good indicator because when there’s a lot of bullish or bearish sentiment on Bitcoin you will see the premium of this ETF start to go up or down. Right now it’s trading about 27% above the price of Bitcoin.

The stock market is giving Bitcoin a premium even though it fell 50% in just a few months. That’s a really bullish indicator to me. It’s been as low as 10% and then it bounced from there. Now, like I said, it’s up almost 30% and people are paying a lot more for Bitcoin in the stock market because as of right now more people have stock accounts than crypto accounts.

Paul: It’s a pain to get a crypto account. I have a coin-based account and you probably have one as well, but most people don’t want to deal with that. I can tell you from tracking the Grayscale Bitcoin Trust, at the peak in 2017 the premium was something like 130-140%. Ian: It was more than double.

Paul: At the low about this time last year I believe the premium was something like 3-4%. Right now it’s nowhere near as pessimistic as it was back then so there’s no reason to expect the premium to be as low. I don’t believe it has traded at a discount any time recently.

All signs point to Bitcoin going higher sooner rather than later. I feel like we can leave that one right there and move to the next one. I think we should name the Iancast, “Tesla, Bitcoin and Pot.” Ian: That’s what we talk about. It’s the fastest growing things out there.

Paul: It’s also what most millennials like to trade and are invested in. When I did a Tesla, Bitcoin and pot video for my Tuesday Bold Profits, I got 30 comments. I don’t think I’ve ever received 30 comments on anything before. That’s where people are at.

So let’s deal with Tesla. Cybertruck.

Ian: Yea. Cybertruck. Just to start off, Tesla has never had an advertisement before. They’ve never spent on marketing. It’s crazy the publicity this stuff is getting. Literally everybody was talking about the Cybertruck over the weekend. We both pre-ordered one.

I personally love it. I know a lot of people are really skeptical of the design. I think it’s going to grow on people. It’s a steel truck that’s supposedly bulletproof, although the window did break during the promo.

If you throw a steel ball at any other car window it’s going to go right through the car window. Bulletproof glass breaks. It doesn’t shatter but it breaks like that.

Paul: I follow Elon’s tweets. It turns out, when they hit the sledgehammer against the Cybertruck it cracked the window. That’s why when they threw the ball, it shattered the window. Elon said what they should have done is first throw the ball and then hit the Cybertruck with a sledgehammer.

Then the demo would have worked out fine. But, you know, that’s how it is in life. I think they got $100 million worth of free publicity as a result of the windows breaking because everybody felt like they had to show it.

Ian: Yes. And they have more than 200,000 orders already in the first few days for this truck. Paul: I feel like the truck makers depend on trucks and SUVs. Between the Model Y coming out and now with this, it’s really time. Those companies are going to struggle. Maybe some of the others will end up being a competitor, but for now there’s no competition of any kind for Tesla.

Ian: It even blows the gas-powered pickup trucks out of the water. I drive a pretty good truck and the Tesla can tow more, carry more, has a bigger truck bed and it faster. It’s a super powerful truck. I’ve heard a lot of people say it doesn’t appeal to the kind of market that drives pickup trucks.

They want more power. What doesn’t appeal? I guess the design? I think it will grow on people and I don’t see it as a reason not to buy it.

Paul: My reaction was pretty much what everyone else’s was. I didn’t stay up for the launch, but I woke up and looked at it and then I thought, “Whoa, that’s different.” Then about a minute later I thought, “I really like it.” Then five minutes later I thought, “I need to order one.”

Ian: Same here. I woke up and saw it and thought, “That’s weird. That’s actually what it looks like?” But then it grew on me. It’s going to take time. It’s what everyone imagined future cars would look like 20 years ago and now it’s finally here. I think it’s going to grow on people. It’s kind of iconic.

Paul: I’m watching the reaction on Twitter and people are having a slightly slower version of what we went through. It came out and now they think it’s kind of cool. I think this might be as fast selling as the Model 3. People say it’s only a $100 deposit and it doesn’t mean anything. But 200,000 is a lot of people.

Ian: Even if 90% of them cancel that’s more than $1 billion they’re getting from this already. Paul: You looked this up before we got on. What’s the short position in Tesla?

Ian: It’s down. It was just 25% a few weeks ago. It’s down to 16% now.

Paul: I have to tell you, in my entire 25 years of being on Wall Street I have never known a company as large as Tesla carry such a large short position. This is insane.

Ian: They’re different. Different doesn’t appeal on Wall Street. Everyone wants to think the same way, be safe, not get fired for liking some company that everyone else hates.

Paul: They talk about Tesla stock owners and car owners being a cult, but the people who hate Tesla are also a cult.

Ian: Pretty much. They do have a lot of haters — millions.

Paul: They do. I always keep my Sentry Mode on when I drive my car because I don’t want to run across someone who wants to do something to my car. We like Tesla at Bold Profits. You can also see we had a Tesla at our last franchise meeting and it was a super big hit. Amber gunned it and she loved it. We’re trying to persuade everyone to get one.

We’ve done Bitcoin, we’ve done Tesla, what about pot? I was on last week and the stocks all sold off. Then, boom.

Ian: They’re back. It’s going to be a ride, for sure. That’s how bottoms are. It goes up and down fast. Some of these stocks in the pot sector doubled from their bottom and went up 100% in a couple days. You don’t see that when there’s not some big buyer looming in the background.

There’s going to be buying in these stocks. They are bottoming out right now and they’re going to come back up. It’s going to be great. The market is so bearish on these stocks right now because they’ve gone down so much for months. It’s the classic selloff we’ve seen where the end is the worst part. It’s like that with anything in the stock market.

Paul: This is so true, Ian. You are absolutely right. Most people — I’m included in this, I’ve never had perfect timing — start buying probably a month too early. Then they underestimate how much that last drop is going to be. That’s where they get shaken out and they sell.

It’s also where they get emotionally blown out. They are not going to come back. Then they end up missing it.

Ian: They are the ones who push it up at the end toward the bubble phase.

Paul: That’s right. Then they come at the end and signal the very top. I’m going to guess just by the sharpness of the move in the ETF MJ, Canopy, Cronos and Aurora, that there’s a combination of short covering as well as actual long buying going on.

Ian: Yes. Some of these went up 100% in a couple days and a lot of them went up at least 40% in the first initial bounce.

Paul: In my experience, when you have the sharp, off-the-bottom jump of 40-50% it means there’s actually a big buyer. A strong hands buyer that is going to own and is signaling they are going to buy more. This is why market makers keep lifting the price up to find sellers who are willing to sell.

In my experience that’s a good sign. We’re bullish on pot and we have it across a ton of our services. Did you end up putting on that trade for the pot company?

Ian: We did. In Rebound Profit Trader we have a pot trade. We’re probably going to do another one very soon. We’re bullish on that. In Rebound Profit Trader the goal is to get stocks at the bottom and buy call options on them, which go up faster than the stock. You can make hundreds of percent in just a few days by doing that if you time it right.

Here at the bottom of the pot crash we think it’s a really good time to buy calls on these beaten down pot companies.

Paul: We were chatting before on Slack and you said we had eight 60% winners in Rebound Profit Trader? I forget the numbers.

Ian: We’ve had 10 winners in the past month.

Paul: 40%, 60%, something in that range?

Ian: Yes, a lot of them are more than 40%. Biotech has been very strong. We just closed our fourth biotech gain of more than 50% — all four have come within the past week. It’s been a good run. Biotech is looking like a good place to be too.

In our other options service — Rapid Profit Trader — we just closed a biotech gain of about 45%. We only held it for three days. You can make money really fast when you’re in the right place in the market.

Paul: They say biotech is the poor man’s lottery. It’s been true. I have traded a ton of biotech in my life because you can have incredible, fast gains. You put options on top of that and we’re talking about a 12-engine rocket that can zoom up instantly. 45% in three days is just wow.

If you’re interested in any of Ian’s services, he runs two phenomenal options services: Rebound Profit Trader and Rapid Profit Trader. They have slightly different strategies but they have a common goal to make you money really fast. Check into the description below.

A little market update. What are we seeing?

Ian: We’re recording this Monday. Today the market is making all-time highs. I saw the ETF we track for biotech — XBI — is up 4% today. Biotech is still moving higher. S&P 500 is making all-time highs. The Russell 2000, which is the small- and mid-cap stocks is breaking out. It’s at a 52-week high as well.

It’s looking really good right now. It’s looking really good to close the year out.

Paul: Remember, the way we look at the world 52-week highs are important because it shows confidence, it shows people are pushing money in and they’re willing to pay higher prices for it.

If you like the content you are seeing here on the Iancast, subscribe to the channel, give this video a thumbs up, share it with your friends and comment below on what you’ve been experiencing during this bull market. You can also follow me on Twitter @MampillyGuru.

What’s your Twitter, Ian?

Ian: It’s @IanDyerGuru. Give me a follow.

Paul: That’s what we have for this Iancast for today. Ian, we’ll have another one next week. Ian: Yeah. See everyone next week. Have a great weekend and hope you had a good Thanksgiving. Paul: Same here. This is Paul saying bye.

Regards,

Ian Dyer

Editor, Rapid Profit Trader

0 notes

goldira01 · 5 years ago

Link

Story Highlights:

Bitcoin is on track to hit $50,000 as early as next year.

This exchange-traded fund is your best opportunity to buy into the cryptocurrency mega trend that is already trading 27% above the price of bitcoin.

Tesla’s new “Cybertruck” is giving the Ford F-150 pickup a run for its money.

How high will pot stocks rise, now that they’ve hit bottom?

Gold. Silver. Coins. Paper dollars.

If you could line your pockets with any of these valuables, which would be the best choice?

The surprising answer: None of the above.

In fact, blockchain-based cryptocurrencies are becoming the new-world digital money — with bitcoin on track to hit $50,000 to $100,000 by the end of next year.

In today’s Bold Profits video, Paul Mampilly joins me to explain why. And to tell you about the best way you can start investing in this mega trend today before bitcoin surges higher in 2020.

[embedded content]

Click Here to View Full Transcript

Bold Profits Daily November 29, 2019

Paul Mampilly: It’s Paul on the Iancast again. I’m hijacking this permanently.

Ian Dyer: Fine with me. We have good discussions.

Paul: Let’s start with dramatic news. You and I never sleep. I know you were up watching Bitcoin hit $6,500.

Ian: The whole time, yes. It bounced. The Bakkt futures we talked about last week, the expiration date came into play there. Bitcoin fell to below $7,000, then it bounced and went a little lower.

The crypto world has its own language. We have HODL. We have FUD.

Ian: That’s fear, uncertainty and doubt, right?

Paul: Exactly. Both Ian and I are on the record of seeing Bitcoin at much higher numbers. Ian has a $50,000 by end of 2020. Is that right?

Ian: Yes, $50,000 next year and somewhere around $100,000 in 2021.

Ian and I believe in Bitcoin. We think Bitcoin is going to the moon. Everyone can make their own judgment. There is that one indicator that we both track. We should tell people about it.

So let’s deal with Tesla. Cybertruck.

If you throw a steel ball at any other car window it’s going to go right through the car window. Bulletproof glass breaks. It doesn’t shatter but it breaks like that.

They want more power. What doesn’t appeal? I guess the design? I think it will grow on people and I don’t see it as a reason not to buy it.

Ian: Even if 90% of them cancel that’s more than $1 billion they’re getting from this already. Paul: You looked this up before we got on. What’s the short position in Tesla?

Ian: It’s down. It was just 25% a few weeks ago. It’s down to 16% now.

Paul: I have to tell you, in my entire 25 years of being on Wall Street I have never known a company as large as Tesla carry such a large short position. This is insane.

Ian: They’re different. Different doesn’t appeal on Wall Street. Everyone wants to think the same way, be safe, not get fired for liking some company that everyone else hates.

Paul: They talk about Tesla stock owners and car owners being a cult, but the people who hate Tesla are also a cult.

Ian: Pretty much. They do have a lot of haters — millions.

We’ve done Bitcoin, we’ve done Tesla, what about pot? I was on last week and the stocks all sold off. Then, boom.

It’s also where they get emotionally blown out. They are not going to come back. Then they end up missing it.

Ian: They are the ones who push it up at the end toward the bubble phase.

Ian: Yes. Some of these went up 100% in a couple days and a lot of them went up at least 40% in the first initial bounce.

In my experience that’s a good sign. We’re bullish on pot and we have it across a ton of our services. Did you end up putting on that trade for the pot company?

Here at the bottom of the pot crash we think it’s a really good time to buy calls on these beaten down pot companies.

Paul: We were chatting before on Slack and you said we had eight 60% winners in Rebound Profit Trader? I forget the numbers.

Ian: We’ve had 10 winners in the past month.

Paul: 40%, 60%, something in that range?

A little market update. What are we seeing?

It’s looking really good right now. It’s looking really good to close the year out.

Paul: Remember, the way we look at the world 52-week highs are important because it shows confidence, it shows people are pushing money in and they’re willing to pay higher prices for it.

What’s your Twitter, Ian?

Ian: It’s @IanDyerGuru. Give me a follow.

Regards,

Ian Dyer

Editor, Rapid Profit Trader

#Timor Invest

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junker-town · 6 years ago

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Why Louisville fired Bobby Petrino and should hire Jeff Brohm

Petrino’s Cardinals didn’t win enough when they had Lamar Jackson, and they cratered after he left. Fortunately, there’s an ideal replacement candidate out there.

To no surprise, Louisville is firing football coach Bobby Petrino, according to Yahoo Sports.

Breaking: Louisville has fired Bobby Petrino, effective immediately. Story to come on @YahooSports

— Pat Forde (@YahooForde) November 11, 2018

An ugly season had only gotten uglier lately. Petrino’s recent run has included an epic drubbing at the hands of Clemson in Week 10, which dropped the Cardinals to 2-7. They gave up 77 points and nearly 12 yards per play, somehow looking even worse than they were supposed to against a title contender. Then, they gave up 54 points in a loss to Syracuse, which doesn’t sound as bad as a 37-7 halftime score really made it.

So ends the 57-year-old’s long, winding history with the school, unless Louisville decides to hire him again in six or seven years, which nobody should rule out.

There’s one exceedingly obvious replacement candidate: Purdue coach Jeff Brohm, a former Cardinals QB and assistant.

There are more pros than cons. The simplest reason to pick Brohm is that he’s quickly turned around both WKU and Purdue, and he’s even replaced Petrino before:

Brohm has taken over for Petrino, his former boss, before. He took over an eight-win Western Kentucky in 2014. He maintained that level of wins in 2014, then won 12 in 2015 and 11 in 2016. After he left and handed the program to another offensive-minded coach in Mike Sanford, the Hilltoppers have gone 6-7 and started 2018 going 1-5.

Meanwhile, Brohm’s beaten the brakes off Ohio State and made the Boilers into one of the most flowing, exciting offenses in the Big Ten. He consistently makes offenses good when he shows up somewhere, and WKU’s floundered since his exit. Brohm’s a lot like Petrino, except earlier in his career and without Petrino’s long trail of shenanigans.

I don’t think Louisville AD Vince Tyra should overthink his top choice. Brohm’s buyout to leave Purdue is $4.4 million before Dec. 5 and $3.3 million after it, so the Cardinals would probably rather wait bring him onboard. That’s because getting rid of Petrino won’t be cheap.

Firing Petrino will cost Louisville a lot, because while the Cardinals prepared for him to leave, they didn’t really prepare to have to fire him.

Petrino’s exact buyout amount depends on some unsettled variables, but it’s likely to settle at about $14 million. Former Cards athletic director Tom Jurich gave him a fat extension in the spring of 2016, before Jackson lifted off to the Heisman.

The contract, a copy of which SB Nation reviewed, had detailed provisions designed to keep Petrino from doing what he’s always done: leaving for another job. It had a clause that said Petrino and his agent couldn’t even backchannel for other jobs while he worked for Louisville. It had huge buyout amounts that other schools would have to pay to hire him away. And those buyout amounts would go down by half if Jurich was no longer AD. And he now isn’t, having been fired amid the FBI’s college basketball corruption investigation.

The contract was designed to do its own PR, making clear that Petrino and Jurich were betting on each other and their futures being at Louisville:

*Look at how confident Louisville was in Petrino, making this huge financial pledge.*

*Look at how confident Petrino was in Jurich. The coach agreed to pay Louisville a huge buyout in the event he left for another job — between $5.5 million and $10 million owed to the school, depending on when.

There’s never a good time for a school to pay a coach $14 million not to work, even before considering whatever the next coaching staff and various assistant buyouts will cost. But this is an extra bad time for Louisville, which is in a legal battle with ex-basketball coach Rick Pitino over his $37 million buyout and might be on bad terms with mega-donor Papa John, whose name came off the football stadium after he got caught saying the N word.

Petrino started his journey as Louisville’s head coach in 2003. A lot’s happened, as he’s built a rep as one of the sport’s least reliable employees.

He went 29-8 in his first three years, then signed a 10-year contract before the 2006 season. He talked like a man who wasn’t going anywhere, saying Louisville was “where my family wants to be and where I want to be.” Then he left less than a year later, parlaying a 12-1 year into the Atlanta Falcons’ head coaching gig. He in turn left that job after less than a year to take over at Arkansas.

Four seasons and one motor cycle crash alongside a mistress that Petrino later lied about, Arkansas fired him. He took a year off, went to Western Kentucky for one year, and reassumed his old job at Louisville when the Cardinals wanted a proven winner to replace Charlie Strong, who’d just left for Texas. Petrino lasted five seasons in his second go-around at Louisville, topping out at nine wins. He signed Heisman winner Lamar Jackson, and then his offense fell off a cliff the year after Jackson left for the NFL.

His latest Louisville spell also included the Cardinals getting in some trouble for receiving confidential Wake Forest game plan documents in 2016, as part of #Wakeyleaks.

Petrino usually doesn’t leave programs better than he found them. He’s not here. Louisville’s recruiting class for 2019 is well off the Cards’ standard and will be hard to salvage.

Petrino’s out because Louisville didn’t capitalize on having Jackson and didn’t stay afloat once he left.

Louisville was an ACC Atlantic contender in 2016, but a devastating loss at Clemson in Week 5 prevented the Cardinals from winning the division. They later lost games to Houston and Kentucky, then got crushed by LSU in the Citrus Bowl. They lost five games in 2017, despite Jackson playing at a level not far off his Heisman pace from the year prior.

The end result: Louisville had two years starting a Heisman QB, and the Cardinals lost nine games in those two years.

In 2018, Petrino’s looked bad. Fans have regularly remarked he’s looked disinterested. The team hasn’t been competitive most of the time. Against Florida State, he flipped an almost certain win into a loss by making one of the year’s most confounding play calls.

Louisville wasn’t supposed to be great without Jackson. It also wasn’t supposed to be one of the worst teams in Power 5 and, really, the country. But that’s what the program became.

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jobsearchtips02 · 5 years ago

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The most popular trade in the stock exchange deals with a substantial test today: Morning Quick

Monday, July27,2020

Get the Early morning Brief sent out straight to your inbox every Monday to Friday by 6:30 a.m. ET.” data-reactid=”17 “type= “text “>

FB), Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Alphabet (GOOGL, GOOG).” data-reactid=”25″ type=”text”>) Get the Morning Brief sent straight to your inbox every Monday to Friday by 6: 30 a.m. ET.

Subscribe” data-reactid=”22″ type=” text” > Subscribe

Mega-cap tech stocks deal with mega risks

hottest trade in the stock exchange.” data-reactid=”24″ type=” text” > It’s the most popular trade in the stock market.

FB), Apple( AAPL), Amazon ( AMZN), Microsoft( MSFT), and Alphabet( GOOGL, GOOG). “data-reactid=”25″ type=” text” > We’re discussing financiers banking on Facebook( FB), Apple ( AAPL), Amazon( AMZN ), Microsoft( MSFT), and Alphabet( GOOGL, GOOG).

^ GSPC) however over a fifth of the marketplace worth. They’re the reason why the S&P is up. Andeveryone’s a bit worried about itas these stocks have decoupled from the rest of the market andvaluations are getting extended .” data-reactid =”26″ type =” text” > These 5 stocks represent 1%of the names in the S&P500( ^ GSPC) but over a fifth of the marketplace value. They’re the reason that the S&P is up And everyone’s a bit worried about it as these stocks have actually decoupled from the rest of the market and valuations are getting stretched

slew of profits announcements Facebook reveals second quarter results on Wednesday. Apple, Amazon and Alphabet reveal on Thursday. Profits statements tend to be catalysts for volatility.” data-reactid=”27″ type=” text” > Today includes a multitude of incomes statements. Facebook reveals second quarter results on Wednesday. Apple, Amazon and Alphabet reveal on Thursday. Earnings announcements tend to be catalysts for volatility.

On Wednesday, these officers will testify prior to your home Judiciary Antitrust Subcommittee in what’s anticipated to be the opposite of a lovefest This comes following a year-long examination into how these companies take on smaller sized competitors.” data-reactid=”28″ type=” text” > And while these announcements may expose something important about the near term for these business, it’s their long-lasting prospects that are being called into question as the CEOs of Facebook, Apple, Amazon and Alphabet head to the Hill.On Wednesday, these officers will testify prior to the House Judiciary Antitrust Subcommittee in what’s expected to be the reverse of a lovefest This comes following a year-long examination into how these business compete with smaller sized rivals.

stated to Yahoo Finance EIC Andy Serwer.” data-reactid=”29″ type=” text” >” We are wanting to cover this up and propose a series of suggestions including legislation that will permit us to handle anti competitive patterns that we see,” committee member Congresswoman Pramila Jayapal( D-WA ) said to Yahoo Finance EIC Andy Serwer

It’s uncertain exactly what will come of all this. Tighter policy isn’t out of the question. Which could be problem for the stocks.

” In the past, antitrust guideline has actually caused slower growth and lower appraisals for affected business, consisting of the MSFT judgments that coincided with the popping of the Tech Bubble in2000,” Goldman Sachs’ David Kostin composed on Wednesday.” In the 2 months around those judgments, MSFT decreased by almost45%, lagging the S&P500 by approximately35 percentage points.”

Strategists argue revenues validate the stock rates” data-reactid =”32″ type=” text” > Strategists argue profits justify the stock costs

” The record degree of concentration in the United States equity market has continued to increase,” Kostin stated.” These stocks have returned35%YTD, compared with -5%for the staying495 S&P500 stocks, and each of the five set a new record high this month.”

View photos

FAAMG are why the S&P500 is up this year.( Goldman Sachs)

kept valuations reasonable.” data-reactid=”55″ type=”text”>

And the more Huge Tech stocks outshine, the more you hear some market participants asking if this is the dot com bubble being relived.

kept appraisals reasonable” data-reactid=”55″ type=” text” > Nevertheless, more sanguine stock market specialists all indicate something: revenues. While these business have seen their market caps balloon, so have their incomes, which in turn have kept valuations affordable

View pictures

FAAMG represent a huge share of S&P500 profits.( Fundstrat)

Credit Suisse’s Jonathan Golub indicated the exact same metrics, including that price/earnings( P/E )ratios are lower today than they were when the tech bubble burst.” [Y] ou can cross market concentration off your list of things to worry about,” he said .

It deserves noting that 3 of these names aren’t classified as tech, according to S&P’s standard. Alphabet and Facebook fall under the interaction services sector and Amazon is thought about customer discretionary. If you were to fold them into S&P’s tech sector– which is around27%of the S&P500– all those companies in aggregate would make up closer to 37.5 %of the index, according to analysis done by Nicholas Colas, co-founder of DataTrek Research study.

To be clear, Colas isn’t worried about how Huge Tech has gotten either. He reviewed past circumstances when different sectors had peaks in their S&P500 weightings, and observed that each incident featured a distinct macro narrative. And tech today is distinct because as a sector, it’s less likely to be disrupted and more likely to be the disruptor, which puts it in a position to take more relative market cap from other sectors.

“[B] eing market historians at heart, we keep coming back to that29%peak Energy weight in1980 since it’s the only non-Tech sector to ever get close to Tech’s present 30%weight,” Colas wrote.” If prosaic oil companies were when29%of the S&P, why can’t ingenious Tech one day be50%of the index? Yes, at that point I believe we ‘d all concur Tech would be in a bubble just like Energy was in1980 However we’re not there yet.”

A decline in these stocks would be tough to recoup” data-reactid=”85″ type=” text” > A decrease in these stocks would be difficult to recover

None of this is to suggest investors are totally free and clear.

” Even if supported by fundamentals, severe market concentration develops macro and micro threats,” Kostin composed.

On the micro side, he indicates the danger of regulation. On the macro side, even passive investors who have their money tied up

Big Tech stocks underperformed the market last week. Which reminds us of yet another risk facing big tech: the U.S.-China trade war.” data-reactid=”90″ type=”text”>in an S&P500 index fund ought to beware as a draw back in these 5 stocks could put a major damage in their efficiency.

” For example, if the FAAMG stocks declined by10%, in order to keep the marketplace trading flat the bottom 100 S&P500 stocks would need to rise by a collective90%,” Kostin stated.

Big Tech stocks underperformed the market recently. Which advises us of yet another danger dealing with big tech: the U.S.-China trade war.” data-reactid=”90″ type=” text” > Possibly this rotation is already under way as Big Tech stocks underperformed the marketplace last week. Which advises us of yet another risk facing huge tech: the U.S.-China trade war.

” Tensions in between the United States and China have ratcheted up again, with a round of diplomatic tit-for-tat and more hawkish rhetoric from both sides,” Capital Economics’ Jonas Goltermann composed on Friday, including that it has actually” weighed on some sectors in the United States, such as semiconductors and IT, which would be particularly exposed if the US-China trade war were to reboot.”

” If US-China stress were again to become a crucial driver in markets in the run-up to the November election– their relationship appears set to stay a main concern in the project– a few of the companies and sectors that have actually done best so far this year may no longer blaze a trail over the coming months,” he stated.

All of this sets us up for what ought to be an eventful week.

By Sam Ro, managing editor. Follow him at

Sam Ro, handling editor. Follow him at @SamRo

What to enjoy today

Economy” data-reactid=”96″ type=” text” > Economy

8:30 a.m. ET: Resilient products orders, June initial (7.0%anticipated,157%in May)

8:30 a.m. ET: Long lasting items orders omitting transportation, June preliminary( 3.5%expected, 3.7%in May)

8:30 a.m. ET: Capital goods orders, non-defense excluding airplane, June initial( 2.4%expected, 1.6%in May)

8:30 a.m. ET: Capital goods shipments, non-defense leaving out aircraft, June initial( 2.8%expected, 1.5%in May)

10:30 a.m. ET: Dallas Fed Production Activity Index, July( -4.9 expected, -6.1 in June)

Profits” data-reactid=”103″ type=” text” > Earnings

6:00 a.m. ET: Hasbro( HAS) is anticipated to report adjusted revenues of20 cents per share on earnings of$9948 million

7:45 a.m. ET: Albertsons( ACI) is anticipated to report adjusted profits of$ 1.31 on profits of$228 billion

Top News

Gold surges to new all-time high as stocks mixed[Yahoo Finance UK]” data-reactid=”108″ type=” text” > Gold surges to brand-new all-time high as stocks mixed[Yahoo Finance UK]

White Home, Senate GOP attempt once again on$ 1 trillion virus help [AP]” data-reactid=”109″ type=” text” > White Home, Senate GOP try once again on $1 trillion infection aid[AP]

SAP to spin off Qualtrics, partly unwinding $8 billion buy [Reuters]” data-reactid=”110″ type=”text”> SAP to spin off Qualtrics, partially loosening up $8 billion buy[Reuters]” data-reactid=”110

Chinese electric SUV maker seeks up to $950 million in U.S. IPO [Bloomberg]” data-reactid=”111″ type=”text”>” type=” text” >SAP to spin off Qualtrics, partly relaxing $ 8 billion buy[Reuters]

Chinese electrical SUV maker seeks approximately $950 million in U.S. IPO[Bloomberg]” data-reactid=”111″ type=” text” > Chinese electric SUV maker seeks as much as $950 million in U.S. IPO[Bloomberg]

YAHOO FINANCE HIGHLIGHTS” data-reactid=”112″ type=” text” > YAHOO FINANCE HIGHLIGHTS

Steve Case: How Congress can back United States start-ups, avoid’ massive brain drain’” data-reactid=”113

Companies sidestep traditional IPOs by choosing SPACs, direct listings” data-reactid=”114″ type=”text”>” type=” text” > Steve Case: How Congress can back US startups, prevent’ huge brain drain’

Companies sidestep conventional IPOs by picking SPACs, direct listings” data-reactid=”114″ type =” text “> Business sidestep conventional IPOs by selecting SPACs, direct listings

WNBA Commissioner:’ There is absolutely nothing political about Black Lives Matter’” data-reactid=”115″ type=” text” >

Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.” data-reactid=”117″ type=”text”>WNBA Commissioner: ‘There is nothing political about Black Lives Matter’

—

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit” data-reactid=”117 “type=” text” > Follow Yahoo Financing on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn , YouTube , and reddit

Find live stock exchange quotes and the current business and finance news ” data-reactid =” 118″ type=”text” > Find live stock market quotes and the latest company and financing news

For tutorials and info on investing and trading stocks, check out Cashay ” data-reactid =” 119″ type=”text” > For tutorials and information on investing and trading stocks, have a look at Cashay

from Job Search Tips https://jobsearchtips.net/the-most-popular-trade-in-the-stock-exchange-deals-with-a-substantial-test-today-morning-quick/

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englishchinesetranslations · 5 years ago

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By Nadgroot,

The S&P 500 Index and the Dow Jones Industrial Average set new record highs every single day last week. This occurred despite the Federal Reserve justifying its unprecedented hundreds of billions of dollars each week in cheap loans to Wall Street’s trading houses as necessary to stem a “liquidity” crisis.

You can’t have a liquidity crisis when the stock market is setting record highs for an entire week. Those two things just don’t correlate.

The Fed, through its money spigot, the New York Fed, began sluicing these funds to Wall Street on September 17, the day the overnight borrowing rate in the repurchase agreement (repo) loan market spiked from 2 percent to 10 percent. This was the first such intervention by the Fed since the financial crisis. The repo market is where banks, hedge funds and money market funds loan each other money overnight on the basis of good collateral like U.S. Treasury securities.

An unprecedented spike to 10 percent in the repo market is a harbinger that one or more of the borrowers in this market is in trouble and lenders don’t want the exposure so they are backing away from lending. This is how free markets are supposed to work. They are supposed to be allowed to send pivotal warning signs from time to time through an efficient pricing mechanism.

But instead of allowing the free market and efficient pricing components to function, the Fed cut this short and drew a dark curtain around this part of the market by flooding cheap, electronically-created money to Wall Street’s trading houses.

On December 12, the New York Fed upped the ante. It announced that over the next month it would shower the trading houses (primary dealers) on Wall Street with a cumulative total of $2.93 trillion in short-term loans.

Now Wall Street has made it clear what the cheap money is being used for. It’s not being loaned out to help the general economy – it’s being used to push the stock market to record highs each day.

The Federal Reserve, as the central bank of the United States, is not supposed to meddle in elections or impeachment hearings. But by providing unprecedented cheap funding to Wall Street’s trading houses, it is artificially boosting the stock market and the 401(k)s of workers, which is artificially boosting the economic track record and re-election chances of President Donald Trump – who has repeatedly linked his reputation to a thriving stock market.

On June 15 President Trump Tweeted the following:

“The Trump Economy is setting records, and has a long way up to go….However, if anyone but me takes over in 2020 (I know the competition very well), there will be a Market Crash the likes of which has not been seen before! KEEP AMERICA GREAT”

The Trump economy is setting records – but not in a good way. The U.S. has the greatest national debt in our history, now over $23 trillion and growing as a result of Trump’s corporate tax cut. The U.S. also has the greatest wealth and income inequality in the last 100 years, making it one of the most unequal countries in the world.

Since it is billionaires and multi-millionaires who own the bulk of the U.S. stock market, when the President speaks of a market crash he is actually predicting a re-balancing of America’s unprecedented wealth inequality. Millions of Americans think that would be a good thing, if for no other reason than to stop billionaires from buying U.S. elections.

According to a white paper released in November 2017 from the National Bureau of Economic Research by economist Edward N. Wolff, this is how the ownership of the stock market stacked up at the end of 2016:

“…the richest 10 percent of households controlled 84 percent of the total value of these stocks, though less than its 93 percent share of directly owned stocks and mutual funds.”

There are plenty of losers as a result of the Fed’s ongoing money spigot to Wall Street. Every presidential candidate challenging Trump has had his or her arguments against Trump’s record undermined by a stock market spiking to new highs.

U.S. taxpayers are also the big losers. The Federal Reserve’s balance sheet is ballooning again as a result of these repo loans and is now back over 4 trillion dollars. If its balance sheet is this big now, what’s going to happen if Wall Street blows itself up again and the Fed has to intervene as a legitimate lender of last resort. Are we looking at an unthinkable 8 trillion dollars balance sheet at the Fed? U.S. taxpayers are ultimately on the hook for any losses at their central bank.

U.S. investors and U.S. citizens are also the big losers. A euphoric stock market undermines the case in Congress for making the critically-needed reforms of Wall Street’s mega banks before they blow themselves up again with derivatives.

And, finally, the next generation and their children are the ultimate biggest losers of all. By funneling cheap loans to Wall Street’s trading houses instead of using its bully pulpit to demand reforms at the casino-like mega banks, the Federal Reserve is aiding and abetting and guaranteeing that the next market crash will be worse than it needs to be. That crash will result in more fiscal spending to shore up the economy, ballooning the national debt exponentially. This will mean that our children and their children will experience a blighted standard of living as more and more of Federal tax revenues are diverted to service the debt load instead of going to healthcare, education, and rebuilding the nation’s crumbling infrastructure.

None of this seems to have been properly deliberated at the Fed. Based on its minutes, its main concern appears to be that the Wall Street banks borrowing from it might end up being “stigmatized.” The insular Fed needs a hard reminder from Congress as to whose interests it is supposed to serve.

0 notes

mostajad · 5 years ago

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2019 Data Breach Hall of Shame: These were the biggest data breaches of the year

The year 2019 witnessed a huge increase in data breaches, where the phrase (unsecured database) was frequently present in the news throughout the year 2019, and the stories of the companies that were hacked were remarkably many, in various fields such as: health care, Hospitality, e-commerce, financial services, and others.

Also, most of the breaches occurred due to leaving sensitive customer data unprotected in open internet software to be bought and sold by hackers who did not make an effort to even find them. Each month, there was more than one company requesting its customers to change their passwords and report any damage .

During the first nine months of 2019, 5,183 security breaches were reported, causing the disclosure of 7.9 billion records. Accordingly, the total number of violations increased by 33.3% compared to 2018, and only 6 violations resulted in the detection of 3.1 billion records in the period. Between 1 July and 30 September.

During the month of November, the research company (Risk Based Security) described 2019 as the worst ever for cybersecurity, due to the large number of data breaches that occurred during it and the number of records reached by pirates.

Here an important question arises: How much does an average data breach cost an institution?

According to the latest IBM study, the cost of a data breach has increased by 12% over the past five years, as a security breach now costs about $ 3.92 million on average, and these expenses include covering the costs of investigation, damage control, repairs, lawsuits, and fines, with no signs To slow down. These breaches also pose an increasing danger to small companies, as they cost up to 5% of annual revenue, an amount that may be a disincentive for small businesses.

What is difficult to estimate is the amount of cost to individual consumers around the world this year, as well as the expected cost during 2020, as it was easy to access the most sensitive data in 2019 such as: passport numbers, medical records, and bank account details, And login data to social media accounts, and social security numbers, prompting millions of people to close their accounts on social media and search for strong insurance methods.

It will be almost impossible to calculate the hours and dollars that people trying to recover from the shameful neglect of some of these companies spend, as predicting future costs is unimaginable. But so far, most experts note that following basic internet security procedures while browsing or shopping will help a lot in protecting you from being harmed by huge breaches.

Today, we will review the 10 largest data breaches that occurred in 2019:

1- Breaching the Marriott chain and reaching 383 million records:

The year 2019 started with the release of (Marriott International Hotel Services) on January 4, a statement confirming that hackers have reached records that include: some passport numbers and credit card information for up to 383 million guests. This number is more than twice the number of users who have been affected by the most recent breakthrough in history, which is Equifax, a consumer credit company, that has reached 147.7 million Americans.

2- (Group 1) Collection # 1 and access to 773 million records:

Security researcher (Troy Hunt) announced on January 17th the largest set of hacked data that includes more than 773 million email addresses and 22 million passwords, and the size of the data file hosted on the MEGA cloud storage service reaches 87 GB, which makes it the largest Individual data breach.

The group contains more than 12 thousand separate files, with a total number of email addresses and passwords approaching 2.7 billion, and although most email addresses have appeared in breaches previously discovered, the researcher indicated that there are 140 million email addresses that came from a breach Large for data not reported or through many smaller data breaches or a combination of both.

3- Hacking 16 sites and leaking more than 617 million records:

A report by The Register on February 11 reported that more than 617 million records were stolen from 16 websites and put up for sale on the dark web. The owners of these hacked websites saw the stolen user data sold for less than $ 20,000 in Bitcoin. Bitcoin digital on the Dark Web.

This data was stolen from the sites: Dubsmash, Armor Games, 500 px, Whitepages, ShareThis, MyFitnessPal, MyHeritage, Houzz, Ixigo travel reservation site, YouNow live video site, and others.

Meanwhile, a group of smaller security breaches demonstrated the seriousness of neglecting electronic security in health care:

On February 19: Nearly 2.7 million phone calls from Swedish National Health Services hotline were discovered on an unencrypted system that can be accessed without a password or any authentication method, as it was accessible to anyone with an internet connection.

On February 20: An attacker detained up to 15,000 patient files at the specialist heart disease unit at Cabrini Health Hospital in Australia for a ransom.

February 22: (UConn Health) revealed that an unauthorized third party has accessed employee email accounts which have broken the records of 326,000 patients.

4- Accessing 540 million records for Facebook users:

Security researcher (Brian Krebs) revealed on March 21 that Facebook exposed hundreds of millions of passwords to danger, by storing up to 600 million passwords to Facebook and Instagram users for several years in plain text format that could be read, which means that it was from It can be read by thousands of company employees.

Also, during the month of April, researchers for UpGuard Security Services announced that Facebook application developers had left data of hundreds of millions of users exposed within cloud servers open to the public, and researchers explained that the two largest groups of data came from:

A Mexican company called (Cultura Colectiva): It saved 146 GB data that contained more than 540 million records on the Amazon S3 server without a password, allowing anyone to access it, which contains information such as: comments, likes, feedback, names Accounts, and others.

An American company called (At the Pool): It is not as big a discovery as the Cultura Colectiva dataset, but it contains text passwords (i.e. unprotected) for up to 22,000 users.

5- Verifications.io hacked and access to 808 million records:

Researchers (Bob Diachenko) and (Vinny Troya) announced during the month of April that they had found an accessible database containing 150 GB of detailed marketing data. The database was owned by Verifications.io, to verify e-mail.

The database contained four separate sets of data, the records totaled more than 808 records, this is perhaps the largest and most comprehensive email database, and the bulk of it was called (mailEmailDatabase) and it contained three folders designed to include the zip code, phone number , Address, gender, and email. By reviewing a random set of records using a (HaveIBeenPwned) database, it turned out that this data is not due to any previous leaks, but rather a completely new set of data.

6- Canva hacked and leaked 139 million records:

(Canva), the most popular website in the field of design, announced during May that it had experienced a security breach affecting 139 million users. The data included: real usernames, email addresses, passwords, and information about the city. Additionally, out of 139 million users, 78 million users had a Gmail address associated with their Canva account.

ZDnet announced on May 24 that the hacker responsible for this hack had released data of 932 million online dark sale records stolen from 44 companies from around the world including Canva data.

7- First American company penetration and leaking 885 million records:

Security researcher Brian Krebs revealed on May 24 that First American - the largest real estate property insurance company in the United States - was exposed to a security breach that exposed nearly 885 million digital documents, and these documents were intended for mortgages and hundreds of millions of them It dates back to 2003.

The records included bank account numbers, mortgage data, social security numbers, bank transaction receipts, tax documents and driving license pictures. These records were available without authentication, so they could be read by anyone using a web browser.

8- Capital One hacking and leaking data of 106 million records:

Capital One, one of the largest financial institutions in the United States and owner of a series of banks, announced on July 29 a security breach due to a security vulnerability in the company's server infrastructure that revealed nearly 100 million user records in the United States, and about 6 Millions of users log in Canada.

The largest category of leaked data included information related to individual customers and small companies that used the company's credit cards from 2005 until the beginning of 2019, and this data varied between names, addresses, postal codes, phone numbers, birth dates, email addresses and income, in addition to credit card data.

Not all bank account or social security numbers were hacked, but about 140,000 social security numbers were affected by credit card customers, and about 80,000 bank account numbers associated with credit card customers.

The company quickly discovered and repaired the vulnerability directly, and it collaborated with the Federal Bureau of Investigation (FBI) to reveal the identity of the hacker, and for its part, the US Department of Justice announced the arrest of a software engineer named Paige A. Thompson who was working at Amazon company related to the penetration incident. After investigations, it was found that Thompson was linked to hacking incidents by several other companies.

9- The data of 7.5 million users of Adobe company:

Comparitech, a cyber security company, announced on October 25 that Adobe left one of its servers without security, as it was accessible on the web without the need for a password, or any type of authentication, revealing data for 7.5 million records for its cloud service users ( Creative Cloud. The company closed it immediately after the warning.

The exposed database included details such as: email addresses, account creation dates, user subscribed products, subscription statuses, member IDs, country of origin, time since last login and whether they are Adobe employees or not. Adobe also confirmed that the data did not include any passwords or financial information.

10- TrueDialog hacked and uncovered over a billion records:

On December 2, two researchers from vpnMentor announced they had found a non-protected US Telecom (TrueDialog) database containing tens of millions of SMS text messages, most of which were sent by companies to potential customers.

The researchers stated that the TrueDialog database hosted on the Microsoft Azure service running on Oracle Marketing Cloud in the United States of America, contained 604 GB of data. This included nearly 1 billion records.

The database contained details such as: full recipient names, TrueDialog account holders, message content, email addresses, recipient and user phone numbers, transmission dates, and status indicators on sent messages.

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simonconsultancypage · 6 years ago

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A Closer Look at Two Recent Securities Lawsuit Mega Settlements

Over the course of the past few weeks, very substantial settlements were announced in two separate securities class action lawsuits, one involving the giant Internet company Alibaba and one involving the auto manufacturing company Fiat Chrysler. Given the size of these settlements, they are interesting in and of themselves. However, the settlements are interesting, separately and together, for several other reasons, among other things for the fact that both involve companies organized and based outside the U.S. but with securities trading on a U.S. exchange. Each of these settlements is described below, and a discussion of the settlements’ significance follows.

Fiat Chrysler

As detailed here, Fiat Chrysler Automobiles N.V. and certain of its directors and officers were sued in September 2015 in a securities class action lawsuit filed in the Southern District of New York. Fiat Chrysler is a Netherlands corporation with its principal executive offices located in London.

In their Fourth Amended Complaint (here), the plaintiffs alleged that the defendants misleadingly reassured investors that the company was substantially in compliance with vehicle safety and emissions regulations and that the company “constantly” monitored and adjusted its operations in order to ensure continued compliance, when, in reality, the plaintiffs alleged, the company “blatantly and willfully” disregarded its reporting obligations to U.S. safety regulators , and ignored the company’s obligation to report safety defects to consumers and to remedy defects. The complaint also alleged that the company used “defeat devices” and software in order to make it appear that its vehicles comply with emissions tests.

In a November 2017, Southern District of New York Judge Jesse M. Furman entered an order (here) denying the defendants’ motion to dismiss the plaintiffs’ Fourth Amended Complaint, the latest in a series of orders in which the court had denied in whole in part the defendants’ various motions to dismiss the plaintiffs’ complaints. On June 15, 2018, Judge Furman granted the plaintiffs’ motion for class certification (here).

In September 2018 and January 2019, the parties participated in mediation sessions before retired judge Daniel Weinstein. These mediation sessions ultimately resulted in an agreement in principle to settle the case for the company’s payment of $110 million. The parties’ agreement to settle the case was memorialized in an April 5, 2019 stipulation of settlement (here). The settlement is subject to court approval. As part of the settlement agreement the defendants deny their involvement in any wrongdoing. In exchange for the payment of the settlement amount, the defendants are to receive a full release. Under the terms of the settlement, class counsel will apply to the court for an award of fees not to exceed 30% of the settlement fund. On April 10, 2019, Judge Furman entered an order preliminarily approving the settlement.

Alibaba

In January 2015, Alibaba Group Holdings Limited and certain of its directors and officers were sued in the Southern District of New York several securities class action lawsuits. The separate lawsuits were later consolidated into a single action. On September 14, 2014, Alibaba completed a $25 billion IPO on the NYSE. The consolidated complaint was filed on behalf of a class of persons who purchased Alibaba’s American Depositary Shares (ADS) on the NYSE between September 14, 2014 and January 29, 2015.

In their consolidated complaint (here), the plaintiffs alleged that throughout the class period Alibaba failed to disclose that on July 16, 2014, just two months before the company’s IPO, Alibaba was the subject of an administrative enforcement proceeding by China’s State Administration of Industry and Commerce at which the company was “admonished” for a wide range of legal violations, to which the company allegedly admitted. The consolidated complaint alleges among other things that the proceeding, the charges, and the admissions were not disclosed to investors.

As reflected in an amended June 2016 order (here), Southern District of New York Chief Judge Colleen McMahon granted the defendants’ motion to dismiss. However, in a December 2017 summary order (here), the Second Circuit vacated the district court’s dismissal ruling and remanded the case to the district court for further proceedings.

In Fall 2018, while discovery was ongoing, the parties participated in mediation, and the parties participating in mediation again in February 2019 and March 2019, after discovery had closed. Following a March 22, 2019 mediation session, the mediator, retired Judge Layne Phillips, recommended that the case be settled for $250 million, to which the parties agreed. The parties’ agreement was memorialized in an April 26, 2019 stipulation of settlement (here), as reflected in Alibaba’s April 29, 2019 press release regarding the settlement (here). On May 1, 2019, the court entered an order (here), preliminarily approving the settlement.

Under the settlement, the defendants are to receive a complete release. The defendants also deny any involvement in wrongdoing. The settlement papers provide that the plaintiffs’ counsel will seek from the court an award of in an amount not to exceed 25% of the settlement fund.

Discussion

These two separate securities suits involving different parties and different allegations, and each settled for different reason and different amounts. Just the same, there are a number of things that the two settlements have in common, that make these settlements noteworthy, separately and together.

The sheer size of the settlements is among the noteworthy aspects that these cases have in common. However, beyond the size of the settlements, there are a number of other attributes of these settlements that make the settlements of note.

First, both of these settlements involve non-U.S. companies whose securities trade on U.S. exchanges. To me this point is worth emphasizing because of the ongoing debate about the risk exposure of non-U.S. companies whose shares trade on the U.S. exchanges. During my recent trip to Europe, one of the recurring topics of discussion was the extent of securities litigation exposure on non-U.S. companies with U.S. listings. The fact is that it has long been the case (as often has been noted on this blog) that non-U.S. companies are hit with securities class action lawsuit at a greater rate than the universe of all U.S. listed companies. The frequency risk that the non-U.S. companies face is frequently overlooked; indeed, for some time non-U.S. companies have paid less for their D&O insurance than their domestic U.S. counterparts. These two recent settlements underscore the fact that the non-U.S. companies not only face a substantial frequency risk but that they also face a substantial severity risk as well.

To be sure, as I noted in a recent post (here), the global D&O insurance marketplace has recently begun to recognize that non-U.S. companies with U.S. listings should not be priced at a discount to their U.S. counterparts, particularly given that in recent years non-U.S. companies with U.S.-listed securities have seen an increase in securities class action claims frequency and in aggregate securities class action claims severity. This recent trend toward increasing D&O insurance premiums for non-U.S. companies with U.S.-listed securities was in fact the topic of an April 15, 2019 Wall Street Journal article (here). If nothing else, these two recent settlements underscore the heightened securities litigation severity risk that non-U.S. companies face that is behind the recent increase in D&O insurance premiums for non-U.S. companies with U.S. securities litigation exposure.

Second, as nine-figure settlements, the settlements of these cases both represent what are often referred to among those who monitor securities litigation as “mega settlements.” The presence or absence of mega settlements can significantly affect the aggregate level of securities settlements in a given year, as well as the average settlement level for the year. Indeed, in 2018, the presence of several mega settlements during the year meant that aggregate and average settlements were substantially above the year before. Assuming for the sake of discussion that both the Fiat Chrysler and the Alibaba settlements receive final approval during 2019, these two mega settlements could well point toward 2019 being another year with significant aggregate and average securities class action lawsuits settlements.

Third, there are several interesting unanswered questions about these two settlements. Neither the settlement documents nor the companies’ press releases say anything that I could find about the contribution toward these settlements by the companies’ D&O insurance carriers. (If anyone other there is aware of any public statement about the insurance that I overlooked, please let me know. For that matter, I would be grateful if anyone with any intel about D&O insurers’ contribution to either of these settlements would let me know.) Without knowing the extent of insurers’ contribution toward these settlements and the defense of these claims, it is hard to say one way or the other what impact these settlements might have on the insurers involved. But to the extent insurers are contributing in whole or in part, these settlements could represent significant additional factor in the trend noted above toward increased D&O insurance pricing for non-U.S. companies with U.S. listings.

Fourth, these settlements are huge, but they are far from the largest of all time. The $150 million Fiat Chrysler settlement, as big as it is, not quite large enough to even make the top 100 U.S. securities class action lawsuit settlements. In order to break into the top 100, the settlement would have had to have exceeded $164 million. The $250 million Alibaba settlement is large enough to make the Top 100 list. $250 million is large enough to tie for 68th on the list. I point this out because in discussing the U.S. securities litigation exposure of non-U.S. companies, my non-U.S. colleagues often try to use statistics about how few of the largest settlements involve non-U.S. companies. I would think the sheer size of these settlements alone would be enough to communicate to anyone that the potential securities litigation exposure of non-U.S. companies is substantial, without regard to the list. However, in case it is important to anyone, I wanted to point out here that the Alibaba settlement makes the top 100 and the Fiat Chrysler is just below the list as well. (The December 31, 2018 Top 100 settlements list of ISS Securities Class Action Services can be found here. I discussed the list in a prior post, here.)

Fifth, the plaintiffs’ fee to be sought from the court in each case was described in the settlement papers in a “not to exceed” basis. The papers in both cases refer to amounts not to exceed a specified percentage. The not to exceed amounts in dollar terms are, respectively, $33 million in the Fiat Chrysler case, and $62.5 million in the Alibaba case. The actual amount to be awarded by the courts remains to be seen. However, it seems likely the plaintiffs’ counsel are looking at a substantial payday. Just in case you were wondering what drives this kind of litigation.

I have one more observation about the Alibaba settlement. Alibaba’s IPO is at the heart of the allegations in the lawsuit filed against Alibaba. The IPO was massive, and so in the end was the cost of resolving the lawsuit filed in the wake of the IPO. These observations seem relevant just now, when so many highly valued companies are going public. Along those lines, and coincidentally, Uber is going public later this week. Other high profile and highly valued “unicorn” companies also recently went public or hope to be going public soon. The Alibaba lawsuit is reminder that along with the benefits of having listed securities come burdens, responsibilities, and exposures.

It seems relevant here to reiterate here, as I pointed out in a recent post (here), that Lyft was hit with a securities class action lawsuit just 13 days after its IPO. As the recent Alibaba settlement shows, the litigation exposures that these high-profile and highly valued IPO companies can face are substantial. There are a number of other current factors that raise the exposure factor for IPO companies even higher than it has been in the past; among other things, the recent U.S. Supreme Court decision in Cyan confirming that state courts retain concurrent jurisdiction for liability claims under the ’33 Act (the very type of claim most likely to be filed against an IPO company) means that IPO companies face the possibility of parallel state and federal court litigation, which could be complicated and costly to resolve. All of these factors together mean that the insurance market for IPO companies is under pressure now, particularly for “unicorns” and other highly valued companies that are seeking to go public.

Those interested in seeing what some companies, including Uber, are trying to do to confront these exposures will want to take a look at Alison Frankel’s May 1, 2019 post on her On the Case blog (here). It appears that some IPO companies are continuing to include federal forum selection provisions in their bylaws, even though the Delaware chancery court has held such provisions to be invalid and unenforceable.

The post A Closer Look at Two Recent Securities Lawsuit Mega Settlements appeared first on The D&O Diary.

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golicit · 6 years ago

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A Closer Look at Two Recent Securities Lawsuit Mega Settlements

Fiat Chrysler

Alibaba

Discussion

The post A Closer Look at Two Recent Securities Lawsuit Mega Settlements appeared first on The D&O Diary.

A Closer Look at Two Recent Securities Lawsuit Mega Settlements published first on

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lawfultruth · 6 years ago

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A Closer Look at Two Recent Securities Lawsuit Mega Settlements

Fiat Chrysler

Alibaba

Discussion

The post A Closer Look at Two Recent Securities Lawsuit Mega Settlements appeared first on The D&O Diary.

A Closer Look at Two Recent Securities Lawsuit Mega Settlements syndicated from https://ronenkurzfeldweb.wordpress.com/

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lotterymillions · 6 years ago

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