General Electric

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Former Obama Jobs Tzar Immelt Threatens To Offshore GE Jobs If Ex-Im Bank Bill Expires





If you work for GE, take close note of the despicable behavior from your CEO. You, your livelihood and your family’s well being mean nothing to Jeff Immelt. In fact, you’re nothing more than an easily expendable cog in his corporate game to accumulate even more wealth and more power for himself. He talks about you like you are chips on a poker table. You have been warned.

 
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Frontrunning: June 23





  • Greek offer to creditors runs into angry backlash at home (Reuters)
  • Tsipras Seeks to Stave Off Greek Defections Over Aid Plan (BBG)
  • Austria finmin says no agreement on Greek proposals without concrete plan (Reuters)
  • Another ELA raise, this time under €1 billion: ECB raises emergency funding for Greek banks (Reuters)
  • Greek energy, foreign ministers divided on Russia gas deal (Reuters)
  • China’s Plan for Local Debt Amounts to a Bailout (WSJ)
  • Key Democratic senators back plan for trade legislation (Reuters)
  • South Carolina Governor: Time to Furl Flag (WSJ)
 
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Frontrunning: June 11





  • Pope urges Putin to make 'sincere, great effort' for Ukraine peace (Reuters)
  • Merkel Tells Tsipras It’s Time to Back Talk With Policy Action (BBG)
  • 'Greek tragedy' needs happy ending now: EU's Moscovici (Reuters)
  • Vulture Funds Circle Greece Targeting Europe’s Best Trading Bet (BBG)
  • Germany against third aid program for Greece under any circumstances, says daily (Reuters)
  • Biggest OPEC Members Pump Record Oil With Rally in Jeopardy (BBG)
  • Greek ruling reversing pension cuts will cost state 1 to 1.5 bln euros (Kathimerini)
  • China’s Former Security Chief Zhou Yongkang Sentenced to Life in Prison (WSJ)
  • MSCI backs itself into corner on China share inclusion (Reuters)
 
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Frontrunning: June 10





  • Pressing for Greek concessions, Merkel and Hollande keep Tsipras waiting (Reuters)
  • Treasuries Extend Slump as Pimco Dumps Two-Thirds of Holdings (BBG)
  • U.S. prepares plans for more troops, new base in Iraq: officials (Reuters)
  • Texas policeman resigns after video shows him toppling teen (Reuters)
  • Kuroda Says Hard to See Yen Dropping More, Spurring Surge (BBG)
  • Tech Startups Woo Investors With Unconventional Financial Terms — but Do Numbers Add Up? (WSJ)
  • Putin is a 'bully', U.S. needs to respond resolutely: Jeb Bush (Reuters)
 
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Frontrunning: June 8





  • White House denies Obama said strong dollar a problem (Reuters)
  • Lira Falls to Record Amid Stock Rout as AK Party Loses Majority (BBG)
  • Bond-Market Game of Chicken With Fed Is Riskier Than Ever (BBG)
  • Xetra Dax enters correction territory (FT)
  • China trade shrinks amid slowing demand (FT)
  • Greek government eyes compromise with lenders, rules out snap polls (Reuters)
  • If You Think Greece’s Crisis Will End Soon, Think Again (BBG)
  • China growth data ‘overstated’ due to data error (FT)
  • Calpers to Cut External Money Managers by Half (WSJ)
 
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Will A Robot Steal Your Job?





Will a robot steal your job? It turns out that the answer depends on the prevailing macroeconomic conditions much more than people think.

 
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Frontrunning: May 28





  • No change in Greek debt talks after another day of spin (Reuters)
  • G-7 Weighs In on Greece as Government Told to Be Serious (BBG)
  • FIFA Faces Mounting Pressure From Sponsors as Visa Threatens to End Deal (WSJ)
  • U.S. hopes Chinese island-building will spur Asian response (Reuters)
  • Japan Inc.’s $104 Billion Investor Payout Set to Surge (BBG)
  • Russia masses heavy firepower on border with Ukraine (Reuters)
  • China Says Its Most-Wanted Fugitive Is in U.S. Custody (BBG)
 
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How Clinton Foundation Donations Led To Billions In Weapons Sales To Autocratic Regimes





Another day, another Clinton Foundation related scandal. In the latest expose by International Business Times’ David Sirota, we learn about the explosion in weapons sales to certain nations during Hillary Clinton’s tenure as Secretary of State. Billions of dollars in sales went to autocratic regimes notorious for human rights abuses who donated generously to the Clinton Foundation. Should we be surprised? No. Should we be outraged and disgusted? Absolutely. Of all the Clinton scandals, the following is the most dangerous to peace on earth.

 
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Frontrunning: May 13





  • Obama, McConnell missteps undercut trade pact in U.S. Senate (Reuters)
  • Bears Beware: Rout Puts Investors on Wrong Side of Central Banks (BBG)
  • U.S. Set to Rip Up UBS Libor Accord, Seek Conviction (BBG)
  • Greece’s Creditors Said to Seek EU3 Billion in Budget Cuts (BBG)
  • Amtrak train derails in Philadelphia, killing at least five (Reuters)
  • Oil glut worsens as OPEC market-share battle just beginning (Reuters)
  • China Stimulus Aims at Restructuring Trillions in Local-Government Debt (WSJ)
 
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EPS 'Beats' Lose All Meaning As Downward Revisions, Buybacks Mask Weakness





The good news: companies are beating earnings estimates by the widest margin in four years. The bad news: this has very little to do with strong corporate earnings and quite a lot to do with buybacks and analysts cutting estimates. In fact, bottom-up EPS estimates fell by 8.2% in Q1, nearly double the 1-, 5-, and 10-year averages and the largest decline since 2009. Meanwhile, repurchase authorizations hit a record in April and are now set to climb to an all-time high in 2015, providing a wonderful frontrunning opportunity for everyone from retail investors to the SNB.

 
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Hopium: How Far Can Irrational Optimism Take The U.S. Economy?





When we deny reality and engage in irrational wishful thinking, we are engaging in something called 'hopium': "The irrational belief that, despite all evidence to the contrary, things will turn out for the best." Right now that propaganda matrix is assuring the American people that everything is going to be just fine. Well, they better be right.  Because if not, they are going to have millions of people extremely angry with them when things really start falling to pieces.

 
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China To The Rescue: Global Equity Market Rebound After Latest Chinese Easing





It is only fitting that the next business day following a headline that "Global Futures Slide China Tumbles On Short Selling Boost" we would see China, in an apparent panic, not only cut its RRR by 100 bps to 18.5% - far more than expected and the most since 2008 - but, more importantly, hinted that the Friday regulatory decision to encourage short sales and tighter margin rules on "umbrella trusts" was in no way meant to pop that the Chinese stock bubble, ridiculous as it may be. End result: after Chinese futures crashed by up to 6% on Friday after the Shanghai close, overnight the SHCOMP was down just 1.64%, erasing the bulk of the futures loss. More importantly, US equity futures have seen a strong bid this morning in yet another attempt to defend not only the Apple Sachs Industrial Average from going red on the year but the all important 100 DMA technical levels.

 
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