Daily Digest

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Daily Digest 4/9 - Ecology For All Of Us, Symbols Of Strength

Sunday, April 9, 2017, 1:05 PM

Economy

Symbols of Strength (Aaron M.)

That means either the Americans have warned them, or more likely the Russians have, as the US knew they would when it told Moscow about the impending ‘operation’ before it took place. And that makes it largely symbolic then, doesn’t it, as former National Security Adviser Richard Clarke suggests to ABC. Of course that would change if there are additional, and more deadly attacks, and that could happen any moment now. For now it’s more or less plausible though.

The Nutty Economy - Europe Returns (Jesper A.)

Many people speak of liquidity problems in the Westasian markets, meaning moves are less coordinated between the asset classes, they can build up somewhere but cannot get out of them (i.e. assets as in e.g. stocks).

Amazon will replace some of its battery forklifts with hydrogen fuel cell ones (jdargis)

Still, fuel cell technology is being developed by GM in partnership with the Army and the Navy, as well as Toyota and Shell. Companies like Walmart and Kroeger have deployed Plug Power fuel cell forklifts in their warehouses. Back in 2015 we reviewed the Toyota Mirai, one of the first production cars to use a hydrogen fuel cell.

Four Triggers For Panic Attacks (Jackie E.)

What we’re now able to do via techniques like Havening is actually switch that response off; Havening helps to dissolve the protein that holds that receptor in place and that’s how you can disconnect a panic attack – it forms a key part of our hypnotherapy for panic attacks treatment.

Ecology For All Of Us (Jesper A.)

Bees need honey, as doth Emerson. In a sense Thoreau was very much a well-earned rip-off on wisdom, and most wisdom is. All I am saying is a wisdom teacher needs willing students, and the smell of wisdom will attract bees like coca-cola attracts money´d investors. A strange thing about doors is they go both ways, that is students and wisdom have an affinity towards each-other. Do all proffessors drink water? Are birds high-flyers? Do camels have bad days? All I am saying is — going with simple things is very helpful, like water. Should I quote Bruce Lee? No, I will stop there. We are apart of nature, this is the gist of it. Simple yet complex. Now on to the morality of it all. Nature is a budding friend.

Neonicotinoid Residue Found In Drinking Water For The First Time (jdargis)

There is a boatload of research that indicates neonicotinoids are horribly toxic to bees and are correlated with decreases in environmental diversity. But its toxicity to humans is not well-understood. In-depth reviews say things like “more studies are needed to fully understand their effects on human health.” The EPA doesn’t even have regulations on neonicotinoid concentration in drinking water; their explanation is that it’s too new and too under-studied.

Gold & Silver

Click to read the PM Daily Market Commentary: 4/7/17

Provided daily by the Peak Prosperity Gold & Silver Group

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4 Comments

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2695
Be prepared

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1438
Good News Monday?

http://www.cnbc.com/2017/04/10/wells-fargo-board-slams-stumpf-and-tolstedt-claws-back-millions.html

 

Wells Fargo's independent directors have decided to initiate corporate pay clawbacks that total some of the largest in history, after concluding a six-month investigation into the beleaguered institution's retail banking sales practices, it was revealed Monday.

A board review, a copy of which was obtained by CNBC, indicated that former Wells Fargo Chairman and CEO John Stumpf acknowledged that he made significant mistakes and helped create a culture at the bank that resulted in abuses, including the creation of fake consumer accounts.

That review was overseen by a special board committee, chaired by Stephen Sanger, and also includes three other independent directors: Elizabeth Duke, Enrique Hernandez and Donald James. The special committee retained law firm Shearman & Sterling to assist the investigation.

On Monday the board is announcing that it has decided it is necessary to claw back an additional $28 million of pay from Stumpf, adding onto $41 million he already gave up when he resigned in October 2016. Stumpf's total pay from 2011-2016 was $286 million, according to executive compensation firm Equilar, meaning he will have forfeited 24 percent of his pay for that period since the scandal first emerged.



Stumpf was made aware of the systemic nature of the bank's sales practice problems starting in 2012, but was first aware of specific cases as early as 2002, according to the board. He did not initiate any follow-up investigation or inquiry into the problem until 2015.



One of the main accusations leveled at him was an unwillingness to criticize former community bank unit head Carrie Tolstedt, whom he once praised as being "the best banker in America."



"Stumpf was hesitant to criticize Tolstedt and, ultimately, hesitant to terminate her, even after the lead independent director and the Chair of the Risk Committee suggested that he do so in December 2015," according to details disclosed in the report...

 
 
 
 
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 3986
The US college debt bubble is becoming dangerous

The US college debt bubble is becoming dangerous

Financial Times-22 hours ago
Indeed, as an expert at the Consumer Financial Protection Bureau recently pointed out to me, since 2008 we have basically swapped a housing debt bubble for ...

Pension Plans' Risky Flirtation With Private Equity

Bloomberg-48 minutes ago
... higher during the late-1990s tech bubble then allowed their equity exposure to ... companies are typically purchasing companies with much greater debt loads ...

Analyst: Illinois mayors make mint as state's IOUs mount

Sangamon Sun-17 hours ago
... are struggling to address underfunded liabilities like pension debt, an issue that ... residents, a move that would slash state spending by $1.75 billion, he says.

Report: CT six-figure pension costs multiply

Hartford Business-45 minutes ago
The state is paying six-figure pensions to 1,030 retired employees at a cost of $120 million a year. Seven years ago, just 110 retirees were receiving pensions of ...

Student health insurance to increase by 24 percent next fall

Daily Illini-9 hours ago
The cost per semester for student insurance for the campus will rise from $320 ... United Healthcare, the University's underwritten healthcare provider, has been ...

 

davefairtex's picture
davefairtex
Status: Diamond Member (Online)
Joined: Sep 3 2008
Posts: 4676
buffet 10% owner WFB

Tom-

I'm guessing Warren Buffet is behind the clawbacks.  Berkshire Hathaway is a 10% owner of WFB, the single largest shareholder of the bank.  I bet he took a day, picked up the phone and made a few calls to the right people.  He could vote himself a seat on the board himself if he really wanted to make a thing about it.

He's got 27 billion reasons why he needs to show the next leader of the bank why they shouldn't play around with his capital that way.

Also: the WFB dividend of 2.78% means $750 million per year for Berkshire.  Probably worth a day of his time.  Maybe even two days.

Its a theory anyway.

 

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