Single Women Voters Focus of Democrats’ Equal-Pay Appeal
Unmarried women were among Barack Obama’s most loyal supporters in 2008, turning out in droves and delivering 70 percent of their votes to him. When many of them stayed home in the 2010 midterm election, Democrats lost the House and had their Senate majority trimmed.
Now, determined to get single women back, Senate leaders are reshaping their legislative agenda, advancing a bill to bolster workers’ ability to win pay discrimination lawsuits. A similar measure was blocked by Republicans two years ago, and proponents expect it to be rejected again, setting up a contrast between the parties over an issue that especially touches unmarried women.
Li Family Succession
The Lis of Hong Kong are Chinese Jews and business partners. Their real wealth is in the trillions. The Li family wealth comes from their banking empire. Chinese spell the name Lee, Chinese Jews were assigned the spelling LI, but the Emperor of China in around the 7 th century. And of course before banking they were in charge of Opium production and helped the Rothschilds/Jardines/Matheisons/Sassons with distribution into mainland China. Hong Kong and San Franciso are very close so I thought I would post the news here.
Apple Design Chief Jonathan Ive Gets Knighted
Hypocrite/Financial Thug Sandberg at Faceboook
She was Geithner’s underling at Treasury. This clown CFO is just Zuckerberg’s temple buddy. He hired Sandberg from Google as ‘the’ ‘big gun’ to run the company and pays her a fortune to do so. She more than anyone should be fired over the facebook IPO. Total hypocrite. Facebook is being propped up until the big pensions can get out. London has a 10 dollar target on it. Zuckerberg probably has a ‘collar’ on his stock. He will be a big buyer at 10. Warrants seem to say 20 bucks is fair value and I ran some numbers and came up with closer to 10. One thing is for sure, Facebook has a long way to fall. I happened to pick up the 10 dollar london target during one of my forays onto the trading turf of the English pirates. This BS she put out at Harvard today was to avoid answering questions about her potential criminality. What a witch!! It is well known Zuckerberg is a math/computer guy and knows next to nothing about business which is why he hired her to run the firm. A bad choice by him unless he cans her. She belongs in the kitchen, but not Facebooks.. Ha, ha, Morgan Stanely lost as much as they made in the float, and that is if they cant get short somehow and ride it back down. I was not able to get FB stock to short. I’m not a chosen ‘naked’ short. Ha, ha. What a load of crap, eh. Women can always fall back on the ‘tears’ defense. They turn them on and off like crocodiles to manipulate men.
Geithner Won’t Label China Currency Manipulator
More from David Rockefellers punk, and FED criminal Tim Geithner.
Miners Wait for Big Players To Act
Broker losses on Facebook put at $100m
The Dark Nooks in JPMorgan’s Fortress Balance Sheet
Facebook has reminded investors of a simple lesson: Avoid companies whose bosses don’t care about you. From the get-go, Mark Zuckerberg, the social network’s not very sociable founder, made clear he had little interest in welcoming public shareholders. That indifference set a tone for his executives, venture capitalists and bankers that arguably contributed to the glaring flaws in Facebook’s initial public offering last week.
True, the company’s earlier backers, who were able to unload more than $10 billion of stock at the highest possible price, may consider the deal worthy of high-fives and Cristal. But the combination of a stock already trading well below its offer price, annoyed retail investors – many of them Facebook users – and regulatory probes constitutes a botched deal. And that’s without mentioning trading glitches, which were presumably beyond the company’s control.
There’s also the impact on Facebook’s reputation and morale. Where the Silicon Valley titan was once viewed as a benign force connecting people, albeit with occasional privacy concerns, it now risks being synonymous with Wall Street money-grubbing. That’s bad for a product dependent on consumers. It’s also harmful for morale internally and, along with a listless stock price, for recruitment.
The irony is that these issues – along with the lawsuits now piling up on Hacker Way – may be exactly what Zuckerberg hoped to avoid by keeping his company private for so long. As he made plain in his letter to prospective investors, “we’re going public for our employees and our investors.”
Contrast his hands-off approach with the attitude of Microsoft’s Bill Gates back in 1986. Gates insisted the company’s IPO underwriters set a lower price range than they thought achievable, according to a Fortune story on the process, settling on $21 a share. That helped make the IPO an easy hit for incoming investors, even in the early days of trading.
By all accounts, Zuckerberg is Steve Jobsian in his attention to detail when it comes to coding for his internet creation. But the vacuum created by his distance from the IPO allowed underlings to make decisions – for instance in pricing and allowing early VC investors to ratchet up their sales – that may have damaged Facebook. In this respect, Zuckerberg has failed an early test as the CEO of a public company.
JPMorgan’s Deficient Disclosures
A Mining Rush in the Upper Peninsula
USA Worker Sentiment Jumps in May to Four-Year High-University of Michigan Survey
U.S. consumer sentiment rose to its highest level in more than four years in May as Americans stayed optimistic about the job market, while higher income households expected to see bigger wage increases, a survey released on Friday showed.
The Thomson Reuters/University of Michigan’s final reading on the overall index on consumer sentiment rose to 79.3 from 76.4 in April, topping forecasts for 77.8 and an initial May reading of the same.
It was the highest level since October 2007.
“Unfortunately, consumer confidence is still extremely vulnerable to a reversal, as occurred in the past two years,” survey director Richard Curtin said in a statement.
“While their most optimistic expectation for job growth could go unfulfilled without much harm, if the recent slowdown in job growth persists in the months ahead, it could form the basis for a third retreat in confidence.”
Half of all consumers said the economy had improved during the past year, while buying plans for vehicles and household durables also improved. The gauge of buying plans rose to 132 from 126.
Higher income households anticipated a 2 percent income increase in the year ahead, while lower income households expected just a 0.3 percent gain.
The survey’s barometer of current economic conditions jumped to 87.2 from 82.9, while its gauge of consumer expectations improved to 74.3 from 72.3.
The indexes where at their highest levels since January 2008, and July 2007, respectively.
The survey’s one-year inflation expectation eased to 3.0 percent from 3.2 percent, while the survey’s five-to-10-year inflation outlook dipped to 2.7 percent from 2.9 percent.
Why Are Greek and Italian Politicians So Bad?-American Perspective
Copper ETF Plan Would ‘Wreak Havoc’
US manufacturers have attacked plans by JPMorgan Chase to launch an exchange-traded fund backed by physical copper, arguing that the product would “grossly and artificially inflate prices” and “wreak havoc on the US and global economy”.
In a letter to the Securities and Exchange Commission, lawyers representing the copper consumers say the impact of the ETF on the copper market would be comparable to the Sumitomo trading scandal of 1995-96, which sent prices sharply higher.
JPMorgan is among several groups trying to capitalise on investors’ interest in industrial metals by launching a fund that allows them to access physical copper directly.
Its regulatory filings suggest its ETF could hold 61,800 tonnes, 27 per cent of the copper held in the London Metal Exchange’s global network of warehouses. An ETF proposed by BlackRock iShares could hold 121,200 tonnes.
Groups complaining about the ETF include Southwire, the biggest US manufacturer of electrical cable, and Red Kite, a metals-focused hedge fund and trader. Bob Bernstein of Vandenberg & Feliu, a law firm acting on behalf of the consumers, said he was representing companies that account for half of US copper fabrication capacity. In the letter to the SEC, they argue the ETF would result in a “substantial artificially induced rise in near-term copper prices … simulating the effects of an artificial squeeze or corner being financed by unsuspecting investors in JPM’s ETF.”…
Codelco Says Hernandez Resigns as CEO of Top Copper Miner
JPMorgan Gave Risk Oversight to Museum Head Who Sat on AIG Board
The three directors who oversee risk at JPMorgan Chase & Co. (JPM) include a museum head who sat on American International Group Inc.’s governance committee in 2008, the grandson of a billionaire and the chief executive officer of a company that makes flight controls and work boots.
What the risk committee of the biggest U.S. lender lacks, and what the five next largest competitors have, are directors who worked at a bank or as financial risk managers. The only member with any Wall Street experience, James Crown, hasn’t been employed in the industry for more than 25 years.
“It seems hard to believe that this is good enough,” said Anat Admati, a professor of finance at Stanford University who studies corporate governance. “It’s a massive task to watch the risk of JPMorgan.”
The bank has been under siege since CEO Jamie Dimon said May 10 that the firm’s chief investment office suffered a $2 billion loss trading credit derivatives. He later called it “a Risk 101 mistake.” Shares of the New York-based company have fallen 17 percent since, and at least half a dozen agencies, including the U.S. Department of Justice and the Securities and Exchange Commission, are investigating.
The probes began after traders in the London office, which manages the bank’s excess cash, made wrong-way bets on illiquid credit derivatives, some of them so large they distorted market prices. Dimon transformed the division under Ina Drew, who resigned over the losses, from a sleepy haven for traders of U.S. Treasuries into a profit center with an increasing appetite for exotic wagers….