Archive for November 19, 2008

Chronicles Of Depression 2.0: #422: Cow Chips

November 19, 2008

Over 100 U.S. “blue chips” now selling for under $10 a share

No, that’s not Dalmatians but the number of stocks in the U.S. benchmark S&P 500 index now trading for less than $10 a share.

In fact, $10 would get you 10 shares of online broker E*Trade, now the cheapest stock in the index at 98 cents a share. At the other end of this low-ball spectrum you can get a small slice of the garbage business with a share of Allied Waste at $9.90.

In between lies a raft of household names, many formerly held up as blue chips, including Citigroup ($6.40), Alcoa ($8.16), Xerox ($5.58), Motorola ($3.44), Starbucks ($7.97) and Yahoo ($9.14), not to mention beleaguered automakers Ford Motor ($1.26) and General Motors ($2.79).

And:

“This is definitely unusual,” he said. “I think you’d have to go back as far as the 1940s, when $10 was worth more to see a similar number,” he said.

Emphasis added by me.

And:

Twenty-five stocks, or five percent of the index, don’t make the $1 billion mark in market cap, and just 11 exceed the $100 billion level.

In fact, a third of the entire index is not even qualified to be in the index — 186 stocks have market caps under $4 billion, the minimum value for consideration for S&P 500 membership.

Emphasis added by me.

Oh no, there’s no Depression 2.0. Why, no, not at all. This sort of thing happens all the time.

That’s sarcasm, you sleepwalker.

Chronicles Of Depression 2.0: #421: Iceland 7

November 19, 2008

IMF approves $2.1bn Iceland loan

The International Monetary Fund (IMF) has approved a $2.1bn (£1.4bn) loan for Iceland, after the country’s banking system collapsed in October.

The two-year loan was designed to help the country cope with what the IMF described as “a banking crisis of extraordinary proportions”.

The loan aimed to help the country “to restore confidence and stabilise the economy”, the IMF said in a statement.

Iceland is the first Western European nation to get an IMF loan since 1976.

Emphasis added by me.

Needs watching.

Writer Tobias Buckell: Free Novel Thirds

November 19, 2008

The first one-third of three of his novels — Crystal Rain, Ragamuffin, Sly Mongoose — are available in RTF file format for free.

And best wishes for a speedy recovery.

— via GalleyCat

The Google Book Robbery: I’m Not Alone

November 19, 2008

The Great Book Bank Robbery – the Debate Starts

Google Pub Quiz

One Step Closer to a Full Pardon

Free Excerpts

November 19, 2008

Book View Café

From the FAQ:

What is Book View Café?

Book View Café is a cooperative site created by a group of writers who want to take advantage of the internet’s possibilities for reaching a wider audience and to distribute their work directly to their readers.

Is Book View Café a publisher?

No. We’re more like a co-op bookstore where all our member authors bring their work to sell, or to give away.

Who are the Book View Café members?

The members of Book View Café are all professional writers, representing the wide diversity of popular fiction.

Why did you decide to start Book View Café?

To provide you with access to our work in electronic form. Ideally, it would also provide you with a wider selection of fiction from some of your favorite authors than you’ve had before, and provide us a more direct link with our readers. Of course, we also wanted to take advantage of the internet to get the word out about our books.

That website design needs some work!

Srsly WTF?

November 19, 2008

The TypePad Journalist Bailout Program
Because your Tumblr and Tweets, while clever, will not pay your bills.

So, like, this is to keep them from using the free free free WordPress?

Which, you know, does a kick-ass killer job of getting my posts on Google?

How To Deprive Yourself Of Great Writing

November 19, 2008

Does an Author Have to Live It to Write It?

This really shocked the hell out of me:

First, my own biases. I rarely read books written by men, regardless of genre designation.

And:

I suppose that is how men feel about female authors.

Of course, I had to leave a Comment.

What’s next?

Writers can’t do books about cats because what does a human know about a feline point of view?

Writers can’t do speculative fiction because no one has a time machine to experience the future?

Writers can’t do historical novels because we can’t really understand those times?

I’ll leave it at that.

If I get impassioned, I’ll turn insulting.

Chronicles Of Depression 2.0: #420: Woolworths

November 19, 2008

Woolworths poised to sell 800 stores to American company for just £1

Woolworths could sell its 800 high street stores for just £1 to a US company that specialises in takeovers of distressed businesses.

Just weeks after arriving as chief executive, Steve Johnson has opened talks with Hilco about a deal that would offload the shops and allow Woolworths to focus on its 2entertain and EUK media and distribution businesses.

Emphasis added by me.

There’s a chart there for the stock value. I’ve been watching CNBC for almost the past hour. Chart after chart for company after company looks just like that one. Down down down.

Welcome To Depression 2.0

November 19, 2008

Oh yes it is.

An hour ago I tweeted this:

tweet111908

An hour later — moments ago — I get this in the Twitterstream:

dow7900111908

It went faster than even I thought!

No turning back now.

All you doubters, when it hits you, have some dignity and don’t put up Begging Blogs.

WordPress is slow enough as it is without your crybaby whining.

Sony Reader Gets PC Pro Cover

November 19, 2008

pcprocover1108

eBooks – the verdict

If you are a fan of digital magazines, eBooks may also spark an interest. Over the last year there has been a lot of talk about the eReader and we have seen the emergence of several different models boasting the ability to store a large amount of reading material in electronic format, in a portable device to read wherever and whenever you fancy.

This is a British print magazine which can also be bought as an electronic copy.