1-2 Knockout

Marc Ecko: Gentleman & Patriot

While I work on some serious posts about the wonders of mark-to-market accounting and other fun stuff, I figured on this Rosh Hashana, a few of you could probably use a little pick-me-up. 

Its good to know that while the financial sector is on the verge of epic fail, our own apparel industry is picking up the slack.  We support globalization, clearly, but in trying times like these we need American entrepreneurs and business owners like Marc Ecko.  Just-in-time inventory management is old news.  Bikini-clad line workers?  That's what we call innovation. 

Respect, Mr. Ecko, respect.

Oh Sh*t

Because at midnight on a Sunday night, this is what we do with our lives...(stalk the "Paulson")

I'm paraphrasing here, but the point is, well, we have no idea what the f*ck is going on.  Apparently theres a massive "bailout" package that just got approved by Congress, and We hear that there's some d-bags in the "Senate" that oh-I dunno, just might pull their heads out of their asses and f*cking approve it. Lets not get into the fact that no-one involved has any idea wtf is going on, but hey, thats what Glenfiddich is for, right?

Per the WSJ, uh, um, (go to cash ASAP).

Happy Monday, Happy whatever, and, uh, lets just sing some freaking Kumbaya

This Week In "Duh"

Whoa, the SECOND screwed up? Hogwash! Rubbish!

from the wsj: http://mobile2.wsj.com/device/article.php?mid=&CALL_URL=http://www.wsj.com/article/SB122247236868380919.html

This is via blackberry, via a bar/restaurant (go cowboys!?), excuse the lack of editorial, might expound on this after Entorage, maybe...

Everybody Calm Down: RICK's OK (still blames shorts)

Forget JNJ and P&G, Rick's Cabaret is neuvo-defensive .

From Briefing.com (please don't sue):

Merriman notes that over the past month, RICK shares have declined by about 25% as they believe investors have feared the potentially negative consequences of a weak economy on the co's strip club operations. However, after completing some channel checks in recent days, they do not believe the co's strip club business trends have suffered during the current qtr. In fact, given the co's market position in many of its regions, they actually believe RICK could benefit from this economic environment. The firm also notes that according to the SEC website, RICK shares have been on the "fail-to-deliver" list indicating potential "naked short-selling" abuse. If this has been contributing to the drop in RICK shares recently, the firm would believe the situation should correct itself as the co continues to report solid qtrly results. Firm says that one other concern impacting public valuations recently is whether or not a co needs capital to sustain its operations. They say that the short answer for RICK is no.

This Week's Sign the Apocalypse is Upon Us

I thought I'd uh, never say this, but Jim Cramer did the right thing today.

Let that sink in a little bit.

Yea...

So for those of you who don't watch CNBC at 11pm (since lets be honest, who watches Mad Money at 6 - if at all?), let me explain the reason behind this monumental post:  Cramer actually practiced RESPONSIBLE punditry!  I shit you not.

Can't find a video clip, but the gist of the matter is posted on the Mad Money site .  Essentially it boils down to the fact that Jim understands - and tried his darndest to get his audience to understand - that the so-called "Bailout", isn't, despite what John Q. Public may believe.  No, in reality, its hardly about bailing out the Wall Street Bankers; its about making sure the global financial system doesn't come to a screeching halt.

I've already warned the MSM to get their act together and start getting a 'lil more responsible with their reporting of the "impending financial Armageddon" (like they have any idea wtf is going on, please), but it didn't seem like anyone was listening.  Apparently, at least Cramer was.  On his show today (well, Wednesday 9/24), he went out of his way to explain to his largely non-Wall Street audience that while it may seem like the so-called Paulson Plan is a direct bailout of the Rich Wall Street Bankers who caused this whole thing (ignoring the accuracy of that allegation for now), in actuality, we need it to make sure that banks stay open, credit doesn't completely dry up, and life can go on with as little disruption as possible.

Who'da thunk it would come from Cramer?

Really, a bailout, on Friday??

Dick Fuld's net worth has gone from a reported $480m to <$10m over the past six months...

I'm betting SNL was pretty spot on with his reaction to Friday's bailout.

Download snl_dick_fuld.wmv.asx

Then and Now: They said the same about Titanic.

Then:

"I cannot imagine any condition which would cause a ship to founder. Modern shipbuilding has gone beyond that.”
-Capt. Edward Smith, Captain of the Titanic

Now (from the FDIC website):

"The ladies have to go first. . . .  Get in the lifeboat, to please me. . . .  Good-bye, dearie.  I'll see you later."
-John Astor

NYT hysterics not the end

Barry dug up a great NYT Op-Ed from October 18th, 1930 today.

Thought I'd point out what the DJIA did over the following two years.

This is not the bottom.

Random Thoughts

If I make a bet on Intrade does it affect the election's outcome? No. Is there a high correlation between Intrade’s predicted outcomes and their actual outcomes? Yes.

Why do smart people think commodity futures work any differently?

--

Goverment thoughts: inflating money supply, good; inflating stock supply, bad.

Apparently it's ok to deplete the value of one, but not the other.

What the eff is this, Marquee?

I agree with Bess at Dealbreaker. Membership to the Do Not Short list should require at least an Hermes tie.

The following companies recently felt they'd join the Market Manipulation Party, hosted by David Jaffee.

(Note David Einhorn's white whale, Allied Capital even made the list.)