Typographical and factual errors will be corrected tomorrow.
Comments will be moderated tomorrow.
I'm out of here.
NFL players still kneel - Veterans Day. Stadiums, at least in some venues, half empty. I'm through.
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As for all the noise about fascism and tyranny: Trump has scrupulously obeyed the law, even as judges came up with unprecedented legal theories to strike down his “travel ban” executive orders.
EQT receives shareholders' approval for Rice Energy buyout.See this post for background information.
Tesla Inc. first-ever pure corporate bonds are trading under water, boding ill for the Silicon Valley car maker’s next attempt to tap capital markets.
The 5.300% notes, which mature in 2025, were trading at 93.81 cents on the dollar on Friday to yield 6.320%. The bonds fell under par within a week of issuance, but were holding above 97 cents for much of October. [The size of this bond issue: $1.8 billion.]
The weak performance of the bonds may be a sign that bond investors, at least, are starting to disbelieve Tesla’s growth story and will be looking for higher premiums to take on higher risk.If Tesla is delivering 5,000 cars/month (all models; S,3, and X) that works out to about $1,500/car in annual interest payments on these 5.3% notes.
The Los Angeles County Metropolitan Transportation Authority’s ridership has been falling steadily since 2014, losing on average 69,000 daily riders each month. The most recent 12 months of data show a decrease of more than 10% compared with the same period three years ago, and Metro’s current “annual boardings” — just under 400 million — represent a drop of almost 20% from the system’s 1985 peak, even though the county’s population has increased by nearly a fifth since then.
In 1986, Metro ended the fare subsidy and shifted the funds to building rail lines, beginning with the Long Beach Blue Line, which opened in 1990.
Total transit ridership proceeded to fall until the NAACP, the Bus Riders’ Union and others took Metro to federal court to protect bus service in 1994. Their argument was that the expansion of rail was coming at the expense of bus routes, bus frequency and bus riders, and it was disproportionately harming minorities, the elderly and the young. Metro settled, and the deal was enshrined in a 10-year consent decree starting in 1996.
The settlement allowed Metro to build all the rail it could afford, so long as specific bus service improvements were made too. Those improvements included reducing fares, increasing service on existing lines, establishing new lines, replacing old buses and keeping the fleet clean. Lo and behold, while the decree was in force L.A.’s transit ridership rose by 36%.
When Metro was no longer bound by the settlement, it refocused its efforts almost exclusively on new rail projects. The quality of bus service began declining in almost every way measurable, and overall ridership again fell.By the way, the writer at the Coyote blog said the same thing happened in Phoenix; he's been writing about the Phoenix debacle for years.
Baum was by no means an inexperienced author when he began his career as a children's writer in the 1890s. At the age of twenty-three, he started The Poultry Record, a monthly trade journal abut the breeding of fancy chickens. (He had a lifelong interest in the subject of prize poultry.) Most of it was cribbed from other journals, but he wrote editorials and jokes.In May, 1900, advance copies of the Hill Company's The Wonderful Wizard of Oz -- text by L. Frank Baum and illustrations by W. W. Denslow -- began to circulate among reviewers.
In South Dakota, Baum started a newspaper in 1890 called the Aberdeen Saturday Pioneer, for which he wrote editorials and a column entitled "Our Landlady." He lost the paper to bankruptcy in 1891 and moved to Chicago.
A few years later, in 1897, Baum started a monthly journal called The Shop Window: A Journal of Practical Window Trimming for the Merchant and the Professional.
While running a store, Baum's Bazaar, in South Dakota, Baum had become adept at creating attractive window displays, so he chose to exploit this skill in his new publication. The idea of seducing the eye, which is so emphasized in The Wonderful Wizard of Oz with the emerald-colored glasses and the theatrical tricks of the Wizard, probably has its roots in Baum's work of window dressing.
He gave up publishing the magzine in 1900, when his career as a children's writer began to take off.
Fake news: lead story at Yahoo!Finance right now, a Bloomberg story with this headline -- "Trump's $250 billion China haul is big number, little substance." We are barely into the start of the visit, and already that conclusion.Since then, any number of mega-deals coming out of the China-Trump visit. This next story (see below) is not from China but follows very closely on the heels of this China-Trump visit story:
The Bloomberg article failed to mention this story in ibttimes: Trump's China visit: Boeing inks $37 billion deal to sell 300 aircraft. Three hundred aircraft.The newest business deal to be announced during the Trump administration, from Reuters: Boeing appears close to sealing a deal to sell 40 of its longest version of its Dreamliner family to Emirates, and may even surprise Airbus by grabbing an early order from Dubai for 787-10 Dreamliners in a deal worth nearly $15 billion.