Wednesday, Part III -- Quickies, Market Surges -- June 10, 2015

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• Market: up 175 185 280 points in early trading. Crude oil up another 2% after a 3% gain yesterday.
• Fed Ex is up almost $2.00 and trading near its 52-week high. It raised its dividend 25%. Hardly looks like a company worried about a recession. My hunch is that FedEx, USPS, and UPS are growing on the backs of Amazon -- faster and faster delivery times requested by their customers.
• UPS up a bit today; well off its highs but still not doing so badly, I suppose
• Netflix, already high, surges 5%; may split

Greece. I always said that Merkel would cave. Bloomberg Business reports that Germany is ready to cave. Is this why the market is up 185 280 points?

Chancellor Angela Merkel’s government may be satisfied with Greece committing to at least one economic reform sought by creditors to open the door to bailout funds, according to two people familiar with Germany’s position.

While the Germans still insist on a package of steps that includes higher taxes, state asset sales and less generous retirement benefits, they may settle for a clear commitment by the Greek government to a measure up front to unlock aid, said the people, who asked not to be identified discussing the government’s negotiating stance.

With Greece’s aid program set to expire on June 30 and no deal in sight, the comments reflect more German flexibility than the government’s public statements. Merkel and French President Francois Hollande may hold talks with Greek Prime Minister Alexis Tsipras on the sidelines of a European Union summit on Wednesday to try to break the impasse.

Tesla, from The Los Angeles Times:

Musk also disclosed that a much publicized effort to allow people to pull into roadside stations and swap a spent battery for a fully charged one has not worked out.

Tesla built such a station on Interstate 5 at the Harris Ranch, a midpoint on the drive from Los Angeles to San Francisco, but Tesla owners aren’t using it.

The automaker issued sample invitations to a group of about 200 California Model S owners to test out the swap system but only a handful used it, and then only once. A wider roll out also failed.

“We are seeing a very low take rate,” Musk said. “People don’t care about pack swap.”
Instead, they use Tesla’s network of free “superchargers” to recharge the cars. It takes longer, but they time it for a coffee break or a meal, he said.

Tesla doesn’t plan to expand its battery swap system, Musk said.

But, and remember, this is from the land of fruits and nuts,

At the behest of shareholders addressing the company at the meeting, Musk agreed to look into using vegan materials for seating and other surfaces in Tesla cars.

I know when I'm traveling cross-country, I like to take 30 - 60 minutes to re-fill my car with gasoline so I can have a coffee break or a meal at a service station (where they now serve sushi).

The new "Brian Williams":

• Michelle notes her own struggles as a high school senior
• doesn't feel comfortable in art museums

As ISIS destroys antiquities in the Mideast, one can only thank the grave robbers in the 19th century

• Egypt intensifying security at antiquities sites
• suicide bomber attacks Luxor temple

And, then of course, there was the Dresden fire bombing in WWII.