Tuesday, January 24, 2012

Aliens are among us ... the BCSC

Step right up citizen and observe what our politicos are passing off as securities regulation and don't get me started ... o.k. I am started.

Top two BCSC dogs alone "earn" a combined and very cool $ 1m and the top 5 turn that figure into $1,822,000 before expenses. Thats some serious flow. Where does it come from and what does a public dope actually get for that? Stay Tuned.

As most regular citizens know, getting the attention of the BCSC, even in the face of the most outrageous evidence possible, is a lost cause short of setting yourself on fire and walking through the front door with a mariachi band.

Case in point is the insulting Fire River Gold (FAU.v) promotion which admitted point blank in having undisclosed and highly material information. Black and white isn't good enough to motivate the BCSC at all however and that critical information remains hidden to this day despite a written complaint. More on this later. Grrrr.
This conspiracy theorist has made a hobby of studying the sun and is wondering mightily when the next big CME is gonna zap us ... similar to the event of 1874.

An event of that size could and might have some major consequences in our modern world. In the past several days the earth has been getting blasted with some of the biggest CME's in 6 years. Surprisingly these babies aren't even the strongest class flares.

:: ::

Monday, January 23, 2012

RIM house getting well cleaned ...

The long knives have been out for the boys for many moons now and what a surprise a SP long running in the red does that.

When RIM was riding high on new technology five years ago and these dudes could do no wrong whatsoever and look at how the mighty have fallen.

"The new man at the top of struggling Research In Motion Ltd. says his priority is to reinvigorate marketing and restore growth in the U.S., adding that he has no intention of allowing the iconic BlackBerry maker to be broken apart and sold in pieces.

“I will not in any way split this up,” Thorsten Heins said in his first conference call with analysts after being named chief executive Sunday of Waterloo-based RIM.

Heins took the reins after the resignation of co-CEOs Mike Lazaridis and Jim Balsillie, effective immediately."

Translation? RIM is going to be broken up and the pieces sold off.


Friday, January 20, 2012

Kodak kicked the bucket ...

::131 years of monopolistic market dominance doesn't mean squat to the march of time and public relevance as former blue chip Kodak announced Chapter 11 bankruptcy protection.

1879 - George Eastman, a high-school dropout from rural New York, goes to London to obtain a patent on his plate-coating machine.

1880 - Eastman leases the third floor of a building on State Street in Rochester, New York, and begins to make dry plates for sale.

1881 - Eastman and businessman Henry Strong form a partnership called the Eastman Dry Plate Company.

1888 - The name Kodak is born and the Kodak camera is placed on the market, with the slogan: "You Press The Button - We Do The Rest."

1896 - The 100,000th Kodak camera is manufactured. The pocket Kodak camera sold for $5.

1900 - Brownie camera is introduced -- sells for $1.

1901 - Eastman Kodak Company of New Jersey, the present parent company, is formed. George Eastman becomes president. Strong remains the head of the New York company until his death in 1919.

1919 - George Eastman gifts one-third of his Kodak stock - worth roughly $10 million at the time - to employees.

1920 - Establishes a chemicals subsidiary to supply acetic acid and other photographic chemicals to Kodak.

1929 - Introduces its first motion picture film designed for making movies with sound tracks.

1930 - Buys a gelatin manufacturing plant in Peabody, Massachusetts, and forms Eastman Gelatin Corporation.

1932 - George Eastman, suffering from a painful spinal disorder, commits suicide with a bullet to the heart. He leaves a note that says: "My work is done. Why wait?"

1975 - Invents the world's first digital camera, a toaster-sized image sensor that captured rough hues of black and white.

1980 - Celebrates 100th anniversary. Enters the clinical diagnostic market.

1981 - Sales cross the $10 billion mark.

1994 - Spins off its chemicals business, Eastman Chemical Co (EMN.N), to help pay down debt.

1997 - Stock touches all-time high of $94.38. The stock closed at $0.55 on Wednesday on the New York Stock Exchange.

1999 - Sells digital printer, copier/duplicator and roller assembly operations to Heidelberger Druckmaschinen AG (HDDG.DE).

2004- Kodak kicked off the Dow Jones Industrial Average. It had been a member since 1930.

2005 - Ranked No. 1 in U.S. digital camera sales.

2007 - The last year Kodak turns an annual profit.

2009 - Decides to suspend cash dividends.

2010 - By the end 2010, Kodak has equivalent of 18,800 full-time employees. Its digital camera market share has fallen to 7 percent, ranking seventh behind Canon Inc (7751.T), Sony Corp (SNE.N) (6758.T), Nikon Corp (7731.T) and others, according to IDC.

Feb 3- Kodak investors stage a mini-revolt at a meeting at the New York Stock Exchange, yelling at CEO Antonio Perez when he leaves the stage. One investor accuses him of having "zero credibility."

July 20 - Kodak announces it is shopping around a portion of its digital patent portfolio and is being advised by Lazard.

Sept 26 - Kodak borrows $160 million against its credit line, raising fears about its liquidity.
Sept 30 - Kodak says it has hired restructuring experts.

Nov 3 - Warns that it may need to raise new debt or complete a multibillion-dollar patent sale to survive the next 12 months.

Dec 27-30 - Three directors step down from board, including two from private equity firm KKR & Co (KKR.N)


Jan 3 - New York Stock Exchange warns Kodak its shares may be delisted.

Jan 10 - Kodak announces a new business structure that divides its film group into its two other business units.

Files a lawsuit against Apple Inc (AAPL.O) accusing it of infringing four patents related to digital camera images. Kodak later also files patent infringement suits against Fujifilm Holdings Corp (4901.T) and Samsung Electronics Co Ltd (005930.KS).

Jan 19 - Files for Chapter 11 bankruptcy protection with the U.S. bankruptcy court in Manhattan.


Tuesday, January 17, 2012

We know rare earth elements (REEs) errrr ...

There's a whole new generation of Venture promoters to educate us ignorant public types about rare earth elements and God bless em all.

Its the flavour of the month but is there long term value in REEs?

A multitude of Venture promoters have the answer but how much does it cost to build a REE mine exactly? ... nobody knows because nobody has built one lately.

Sunday, January 15, 2012

Dead Cats failing to bounce ...

UPDATE: January 23, 2012

"Canada’s main securities regulator extended the trading ban on Sino-Forest Corp. (TRE), the Chinese timber company fending off fraud allegations, after saying a lack of disclosure meant an orderly market can’t be maintained.

The Ontario Securities Commission lengthened the trading suspension to April 16 at a hearing today in Toronto."


Only 10 days remaining until that halt on Sino Forest (TRE.t) expires and what will happen one wonders mightily to our "ugly"?

2 or 3 billion bucks in debt and equity in the balance and from all reports the TRE pie is significantly smaller than its supposed to be.

Slow motion track wreck indeed and only the size of the exchange black-eye is in question now, not that its on its way.

Debt holders have smelled the coffee ...


"Debt holders of Sino-Forest Corp. have seized effective control of the company in exchange for agreeing not to push it into bankruptcy, and are now expected to oversee the liquidation of the scandal-plagued Chinese forestry firm’s assets.

Facing fraud allegations and an imminent default on its debt that would mean certain insolvency, Sino-Forest has ceded command over any significant governance matters and major decisions to a group of investors that holds a sizable amount of the company’s $1.8-billion (U.S.) of debt."

Numerous highly stuck equity holders are getting in line with class action litigation with uncertain outcomes. Any way sliced TRE.t will not be the same forest juggernaut it was apparently pretending to be.


Thursday, January 12, 2012

The Next Venture IPO ...

We suspect Canaccord has the inside track on taking this next can't miss, opportunity of a freakin lifetime public.

The IPO will be grossly oversubscribed due to its obvious merit and ultra strong institutional and fund interest, don't be ridiculous. Pffft.

This humble scribe believes this concept beats the hecksky out of 75% of the rubbish to come from the Venture exchange.



Tuesday, January 10, 2012

The Bad (redux) - St Elias Mines - SLI.v

UPDATE - January 12, 2012

Ongoing signs of a toasted promotion as the Co announced resignations from the BoD in a single sentence ...

"Duncan Bain and Allan St. James have resigned as directors of St. Elias Mines Ltd. effective today."

Surprise surprise, SLI assays have finally hit (after 3 days of serious selling) and they suck so bad results are reported in ppm. (parts per million)


It took a very long while but that amazing market cap for St Elias Mines (SLI.v) is quickly getting pared down to reality/size by gravity and those barren assays. It has been an amazing run, but really, even the recently beat down market capitalization makes little sense in the bigger picture.

::::And what lessons can be learned from this promotion ? (Besides not to turn your back on a llama.)

Several things fairly leap right out for public types, like a dopey market cap on zero assays for instance, or continuously ridiculous hyperbole that makes no sense whatever.

All very good clues that would have saved punters plenty this time around.

In any event there's little doubt the holes are terrible with the bright side being this co is now positioned perfectly for the next rush on llama herding pasture.

Friday, January 6, 2012

Doomsday Countdown ...

Always that slave to public opinion this space is happy to help provide a countdown to doomsday clock for the public doomsdayers.

Are we believers in this rubbish? Of course bloody not. As good as the Mayan were at watching the stars and making very accurate clocks, the globe has been spinning for 5 billion+ odd years and odds are better than average it will be spinning after December 21, 2012.

To cheer us up a bit lets take a gander at the latest Keeling curve. As we know this is the long term chart showing the exponential rise in Co2 levels.

Yeah well, that's probably a better picture of what a doomsday countdown looks like and if humanity hasn't reached a "tipping point" yet it can't be long until it arrives