Which CEO is worse? I say they both suck!!

I have hated Hewlett Packard (HPQ) forever.  I once had a hp computer and it sucked.  The only thing to buy with a HP label on it is a printer.  That's it.  If you are reading this post on a HPQ machine...sorry! 



"I just made $35million in 9 months for being a
CEO of a shit hole company.  What a year!
Who is next in line for me to destroy
the inherent value of your company in
a year or less?"



Internally the company has sucked for over 10 years.  One CEO sucking worse than the next, but what has happened at HPQ in the past year is nothing short of fucking stunning:

In the last year they sacked their old CEO and appointed the former head of SAP as their new chief.  Understand that Leo had systematically missed multiple cycle changes, his software and platform was old and dated and the only thing keeping the stock up was the legal need for Germans to own German stocks.  So after fucking SAP royally, he made 2 decisions in the last month that shocked the investment community and the world.

1.  Even though the product launch was only weeks old, HPQ was exiting the tablet market (ipad competitor).  Then they decided they would keep selling them at a price point where HPQ was losing money on each sale.  Good call. 



"Yes I suck at being a CEO.  But HPQ sucks worse, and I look
forward to putting the final nails in their coffin."

2.  They announced they were getting out of the computer market.  WHAT????  Once those words were uttered, the entire world called Michael Dell and said..."sign us up and ship us asap". 

Then, late this week rumors started to surface about Leo being replaced by an even worse CEO, Meg Whitman.  Meg basically ruined EBAY by making it just a ho-hum company.  She was never able to really extract a better value for the underlying business and the company still has done nothing with their hidden gem, Pay-Pal.

Today it was announced that Meg was the new CEO of HPQ.  I am putting the odds of her being at HPQ 2 years from now at less than 5%.  The only question I have is in 2 years will HPQ still be HPQ or will be be folded into another better run company.

The only worse choice would have been Sue Decker to run the ship.  Good luck Meg, good luck HP, you are surely going to need it!

--The Angry Trader.



A Simpleton Explains Why Obama's "Fair Share" Argument Holds No Water

Ha Ha, I am sure you all thought, here goes The Angry Trader explaining things.  NOPE.  It's the retard Bill O'Reilly who from time to time uses truth, statistics and logic to make a compelling argument.  Whether you agree with him or not, whether you agree with raising taxes to 99% of gross income, you have to agree that somewhere in this message of raising taxes for a jobs bill and people doing their fair share, the truth is getting lost....



That's all I have for you sports fans...

--The Angry Trader.

More Fuzzy Math and the Same Bullshit

So after waiting and waiting and waiting some more, we get Obama's answer to how he is going to fund his new jobs bill.  Taxes, Taxes and Taxes.  The size and scope of the spending cuts...even over 10 years are pathetic and will do NOTHING to change the underlying fundamentals of our debt crisis and floundering economy.

First, the jobs bill is just another example of tax and spend.  Think I am wrong?  Think the president is really going to do something different this time?  Here are the details as laid out by the Miami Herald (GO CANES!!)>

NOTHING is new, NOTHING is different.  I guess that makes it right:

"Among his tax proposals:

• Letting the Bush tax cuts expire as scheduled on Dec. 31, 2012 for individual incomes above $200,000 and family incomes above $250,000. The total over 10 years: $800 billion;
• Limiting itemized deductions for the same incomes. Total over 10 years: $400 billion;
• Closing loopholes for oil and gas companies. Total: $40 billion;
• Raising taxes on investment fund managers. Total: $18 billion;
• Raising taxes on owners of corporate jets. Total: $3 billion.

The one line of spending cuts out of the whopping $3 Trillion in savings? 

• $580 billion will come from cuts to mandatory spending, including in Medicare and Medicaid."

"Obama also will propose principles for tax reform — including one he'll call the "Buffett rule" after friend Warren Buffett, the billionaire investor.  Buffet has lamented that he pays lower overall taxes than his secretary because he makes most of his income off of the sale of stocks, and capital gains on stocks are taxed at a lower rate than even middle incomes.  With that in mind, Obama will urge that any tax reform make sure millionaires pay the same overall tax rate as the middle class."

 A few quick observations:

As of sometime earlier in the day our national debt was $14,712,175,755,103.91 That's TRILLION.   Our president is talking about $3.1Trillion in savings but only $1.5 are from spending cuts.  The remainder are from the above noted tax increases!  The math again does not add up!  I don't care about paying higher taxes now.  Things are so bad, that I get it...I need to.  But...spending more is NOT the answer and proposals like what we have seen out of the White House are not going to fix/solve a thing!



"Man I thought picking off my
house in 2009 was a good buy! 
Now it looks like it's a goodbye
house, goodbye car, goodbye
boat...."



2.  Housing is what took us into this global abyss and it is what will take us out of it.  By cutting itemized deductions, you are hurting home owners.  Interest payments on a mortgage are generally the largest single deduction a home owner takes.  That is now going away.  Moreover in my most recent housing checks, things continue to deteriorate!!  Short sales in affluent neighborhoods around the country are mounting.  This brings every one's property value down, making your net worth less and less (if at all) in your home.  It makes you poorer(sorry for the poor English).  It weighs on you and keeps you on your wallet.



Like this poor lady, our economy is out of gas and too
tired to get herself up....



3.  Letting the Bush tax cuts expire post the next presidential election will save an estimated $800Billion over 10 years.  Did I mention that the national deficit is north of $14 TRILLION??  How the fuck can $800 Billion over 10 years matter?  Moreover, these "tax breaks" are monies that get spent rather than go to government coffers!  That is money business owners can spend on their company, their employees or on their families.   I put forth to all of you that this money would be better off being put back into the economy via the natural order of capitalism. 

4.   So out of a $3+ Trillion savings package only $580B will come from cuts.  The rest will come from tax increases.  I get that we need to pay more but again....this math does NOT work.  This math is CLASS WARFARE, and it is clear to this author, yet again, that our country is being run by a man who desires to see socialism alive and well in America.

5.  Don't get me started on Warren Buffett.  Prick.

I don't hate Obama.  I don't.  I just wish they had a bit more of a clue in the White House these days....

--The Angry Trader.

Hurry up and Wait!!



"This is a recording.  You can only apply for unemployment benefits
when it is convenient for the state.

 Job Interview? 
Fuck You.
Dr. appointment?
Fuck you.
Family problem?
Fuck you."



Today, sports fans, is one of those days where nothing is really going right and I am freaking the fuck out its been 4 weeks since the division of my company was shut down.  Throw on top of that an interview that went horribly wrong and today is well a huge pile of shit.

So I came home and figured, what the fuck.  I will make the unemployment insurance call.  I might as well get my $400 a week, as I have been paying into the system for a mighty long time.  Get this:  There are so many claims, and so many people calling in, they break new claim filing down by letters in the alphabet.  Monday, Tuesday and Wednesday they break things down and anyone call call the rest of the week if you missed your day to call. 

Suffice to day, today is not the correct day to call.  Fuck!!  I will be back to you in a few days as the week progresses.  Quite an auspicious start I must say...

--The Angry Trader.