February 7, 2023: Mark Hulbert -- of course, it would --
February 7, 2023: back in 1982 --
Last year the Biden administration did the right thing by collecting 1% on stock buybacks -- charged to the company -- and ultimately paid for by the shareholders -- as far as I'm concerned the practice of stock buybacks should be illegal -- who was president in 1982?
Yeah, Ronald Reagan. The dots are starting to connect.
In most countries, a corporation can repurchase its own stock by distributing cash to existing shareholders in exchange for a fraction of the company's outstanding equity [is that what "we" do now?]. Cash is exchanged for a reduction in the number of shares outstanding. The company either retires the repurchased shares or keeps them as treasury stock, available for re-issuance.
Biden will get a chance to see how much pain the market / Wall Street is willing to accept. I'll be disappointed in any politico protesting this initiative.
************************** Investing In Fossil Fuel Energy
Shares of oil companies will never do as well as they should simply because there's too much "negativity" and "baggage" associated with him. They will never benefit from MOJO or FOMO.
The only way these companies can reward their shareholders? Dividends. Even buybacks are worthless if shares don't appreciate.
I'm spending the week in Portland, OR, visiting our 3-year-old grandsons.
Portland gets a lot of bad press. One can't "judge" a city in the northern tier of the United States during the winter, so I won't.
I visit Portland not less than two times a year. So far, I've been here three times in eight months.
Many years ago when we first moved to the Dallas / Ft Worth area, I was struck by the number of huge -- and I mean huge -- churches in the area. I arrived ahead of my wife and I knew she would be put-off by these huge churches, which to her represents the "southern Bible Belt" (which it does) and a very, very conservative mindset (which it does) and for her, a racist ideology (don't know, but she's very insightful and very, very well-read).
Six months after living in the Dallas / Ft Worth area, I no longer noticed the churches. They are still there, but they are so much part of the environment they disappear into the trees, McMansions, and quarter-mile wide intersections.
I thought of that when driving through Portland yesterday -- not sightseeing but running errands -- when my daughter pointed out the changing character of a homeless encampment by which we passed. She said at one time it one of the larger homeless camps in the area. It's still huge, of course, but had she not pointed it out, I would not have noticed. It simply blended into the east Portland purlieus. Seriously.
Downtown:
I took the Blue Line into downtown Portland, yesterday and then again today. There is now security on the entire line -- something I had never seen before. It was my impression there were almost no unsavory riders on the train, but it could simply be due to the blustery, rainy whether. Those folks, I assume, are hunkered down in their tents.
Speaking of which, the tents -- at least in the outlying areas -- have gotten a lot nicer. Run a few extension cords for space heaters, or better yet, put in a few diesel generators and the rent would go way up. LOL.
By the way, if one wants to move some of the more undesirable camps from certain locations downtown, it could easily be managed:
find large open fields, or better yet, abandoned warehouses, at least one half-mile but not more than two miles from the MAX (light rail); in the big scheme of things, the homeless population is now that huge that it can't be made more humane;
install a diesel generator or two, donated by the local power utilities;
install trailer-home hook-ups for electricity, donated by EV charging companies (as a condition for operating in the city);
placement of Port-a-Potties, donated by Waste Management and construction companies (again, as a condition ...)
one hot meal a day, provided by any number of go-good operations already up-and-running in the city;
amenities: a weekly traveling library; free wi-fi; a 24-hour coffee / snacks kiosk / with postal services (yes, it could be done); I've lived in military tent cities at the end of the world;
provide security with time and services donated by the police unions who are always looking for ways to boost their stature in the community;
and, then, the coup de grace, budget miscellaneous expenses and pay for them with federal grant money raised by quadrupling the tax on "share buybacks."
Folks might scoff at the "diesel generator" angle, but I've spent time in African nations in which entire towns "ran off" a single generator, or larger cities, used multiple generators as back-up emergency power.
I won't listen to any "pushback" until the naysayer has read Lady Almina and the Real Downton Abbey at least twice.
Wow, once you start "managing" the problem, everything starts to work:
public health: needle exchange; condoms; HIV medication; immunizations; TB (tuberculosis) testing;
social work: the entire service network;
EVs golf carts to transport residents to public transportation;
the homeless get pre-paid passes on public transportation, paid for by car companies.
Powell's Books:
most incredible bookstore in the world, some might argue; I wouldn't disagree;
I was most impressed by the fact that no homeless folks are camped out there; don't know why; didn't ask;
the store was not particularly busy but it was 10:00 a.m. on a blustery, drizzly morning in the middle of winter;
I was most disappointed with the coffee shop; I had planned to buy my books and then hang out there all day;
the coffee shop has been completely renovated since I was last there more than three years ago;
the coffee shop in Powell's Books was incredibly welcoming; one of the nicer coffee shops I had / have seen in quite some time;
there were no customers in the coffee shop -- none, nada, zilch
then I looked at the menu:
coffee: $3.50 / cup -- no selection of coffees; they probably had a selection, I simply didn't see the selection if it existed;
they offered about eight food items; six were ex-ed out with black grease market; one sandwich for $8.95 was offered;
I did not go in.
literally around the corner, a Starbucks with a 4.3-star rating on Google maps; a Starbucks a bit farther away had a 3.8-star rating.
Starbucks Coffee
surprise, surprise. One of the nicer Starbucks I've been in and because downtown is "empty" during the winter in Portland, I practically had the place to myself. It could easily seat 32 folks with 6-foot Covid-19 spacing -- I mean this place was cavernous ...
coffee and a bacon-egg-cheese sandwich, heated -- cost me less than $9.00.
this will be both breakfast and lunch;
c'mon man: find a less expensive breakfast and lunch in a downtown US city over 100,000 in population -- and I get rewards.
I quit looking at my rewards over a year ago when Starbucks changed their reward program -- but two weeks ago, a barista in north Texas pointed out I had 155 points -- enough points to get me through the next six weeks of winter forecast by P. Phil (link here for those who can't spell his name either).
music for keeping Portland weird in this Starbucks: 60's rock. Are you kidding me?
speaking of which, did you all hear who "won" Song of the Year" earlier this week at the 65th Annual Grammy Awards. LOL. Made my day. How old is she, Bonnie? 73 years old. She was stunned, she mouthed "I don't believe it" when the award was announced. Lives in Burbank, CA. This is like living in Southlake, TX.
those nominated who did not win need to ask for a recount; but I know what happened -- the other four split the 75% of voters who did not vote for Ms Raitt. What a riot!
Name the two of the following who have won a Grammy: Snoop Dogg, Jennifer Lopze, Diana Ross.
I saw my grandsons using these and curious to see if Amazon had them. Went to Amazon and put in search ipad etch a sketch and the following popped up.
Some entrepreneur literally took a very small amount of software already written, and a generic "pencil" (low tech plastic stylus: a dime a dozen) and a thin piece of plastic (slightly higher tech, a dime a dozen) with a very, very tiny battery, and selling these (made in China) for $12 for a two-pack.
Tuesday, February 7, 2023: 18 for the month; 88 for the quarter, 88 for the year None.
Monday, February 6, 2023: 18 for the month; 88 for the quarter, 88 for the year 39063, conf, KODA Resources, Bock 3211-1BH, 39011, conf, CLR, Rhonda 5-28, 38166, conf, Hess, BB-Budahn A-150-95-0403H-12, 31770, conf, BR, Ivan 5-1-2UTFH, 31769, conf, BR, Ivan 4-1-29MBH, 31768, conf, BR, Ivan 3-1-29UTFH, 31767, conf, BR, Ivan 2-1-29MBH,
Sunday, February 5, 2023: 12 for the month; 82 for the quarter, 82 for the year 39120, conf, Crescent Point, CPEUSC Szarka 5-36-25-159N-100W-MBH-LL,
Saturday, February 4, 2023: 11 for the month; 81 for the quarter, 81 for the year 39072, conf, Crescent Point, CPEUSC Samples 3-35-26-158N-100W-MBH, 39033, conf, CLR, Rhonda 12-28HSL1, 38167, conf, Hess, BB-Budahn A-150-95-0506H-9,
Refineries with hydrofluoric acid alkylation units account for about
40% of total U.S. refining capacity. Many in the refining sector are
concerned that an Environmental Protection Agency (EPA) proposal to
compel refineries to conduct exacting studies of newer, alternative
alkylation technologies could be leveraged to discourage and effectively
ban HF alkylation, and as a result, potentially lead to more refinery
closures. The U.S. already has lost more than 1.3 MMb/d of refining
capacity since 2019 — losses that exacerbated the run-up in motor fuel
prices through the first half of last year — and the specter of another
round of refinery closures on the horizon looms large. In today’s RBN
blog, we consider the challenges that refineries with HF “alky” units
might face if they were required to replace them.
