Sovereign Risk. Everyone who's pitched knows about the 'grin test' - where you get to take your best shot in front of the executive staff/board/investment committee/limited partners, and then have to smile - and mean it. Just now a lot of hedge fund managers are thinking about that test as it regards investing in unionized companies in politically charged industries. Wonder what that means for the unionized, leveraged, leftist newspaper industry?
I learned to drive on my father's 1967 Pontiac Catalina station wagon. Big honkin' V8, 3-speed manual shifter on the column, as long as my current F-150 and probably weighed more. It was a pig, and even more fun when towing a trailer. It was years later when someone informed me that I'd taught myself double clutching to keep it (and my later VW bus) from ripping out the clutch. Here's some other memories of Pontiac for those who date. Good bye, GM, you're dead to me.
Bankrupt in Sacramento. The electorate paints the state red as the Democrat and RINO taxes and budget fiddles fail big time. Except the proposition to cut legislators pay when there's a deficit. Let's see: no deficit, no new taxes, and no budget chicanery. Just what part of stop spending can't the political class understand? Under the Democrat legislature and Schwarzenegger, the annual budget has increased $41 billion in five years - nearly 40% - while businesses and citizens flee the state. Meanwhile, Ahnuld is in DC, hoping for a bailout. How pathetic is this?
Revolution. Is that a description, or a recommendation?