Clearing Out the In-Box -- June 28, 2022

Updates

Later, 12:46 p.m. CT: link here. Nice thesis but the graph does not support the thesis --

Original Post

Pilot shortage:

• during Covid, commercial passenger air traffic tumbled; pilots furloughed
• meanwhile, commercial cargo air traffic surged; hunch: pilots scarfed up by FedEx, Amazon, UPS
• link here for Amazon Air update

Investment banks:

• Jefferies one of the first to report
• just reported: not good news
• revenue dropped 30% y/y
• earnings: 45 cents vs 51 cents forecast
• shares drop 4% after-hours
• link here;

EVs: speaking of a bad day, how did EVs do yesterday

• TSLA: ended flat but overall a bad day; jumped to $750 at open; closed at $735
• RIVN: down 4% for the day; jumped to $29.50 at open; closed at $28.44
• GOEV: down 4.% for the day; jumped to $2.25 at open; closed at $2.13
• RIDE: down 4.8% for the day; $1.90 at the open; closed at $1.79
• NKLA: down 4% for the day; $5.60 at the open; closed at $5.39
• ELMS: not trading; filed for bankruptcy

EU: now in full scale gas crisis to get through winter

• mandates 80% storage levels by November for all member states
• expect curtailment for power generation to protect households
• link here;

Spare capacity: doesn't exist

• this story all over twitter yesterday;
• now it's a Reuters story
• begs the question: what is Biden's purpose going to Mideast
• Russia making huge inroads -- especially in Iraq
• but back to the linked story -- Macron tells Biden
• it's a bizarre "set-up" 
• it's like a little kid running up to a bigger kid to tell him something he just heard
• some suggest it was "posed" -- disagree; 
• but certainly these heads of state must have already known about OPEC spare capacity

Tired of winning:

• I don't read PowerLine much any more but a reader sent this link;
• it's a must-read
• trend: 
• strict reading of constitutional law;
• not making up "new" law
• most amazing: these are 6 -3 rulings 
• really scary: these are 6 - 3 rulings
• rulings mentioned in the linked story should be unanimous

Corporations paying for reproductive services following SCOTUS decision, from a reader:

• cynical: three-day travel / procedure is much, much cheaper for the company than months of maternity leave
• privacy: companies can't confirm purpose of travel; allows for abuse; I'm not concerned
• this will be taxable income; again, won't amount to much
• a bigger story: huge amount of donor money to Planned Parenthood to get into Travel Business

Johnny Depp:

• $301 million to play Captain Jack again for Disney?