- Get down with ODP! (Yeah, you know me!) Office Depot delays results: Office Depot said the delay "is due to an independent review by the audit committee of the company's vendor program funds. The review relates principally to the timing of the recognition of certain vendor program funds." That translates into about a 17% haicut in the stock today, Bubba.
- Barron's had a "Tech is Back" cover yesterday. Contrarian alert?
- Gary Kaltbaum's radio show had some bearish warnings from Scott Bleier who compared today's market to 1999-2000 where fewer and fewer stocks were leading the market and eventually they rolled over, too.
- This just hitting the wires: Political markets see Clinton vs. Giuliani contest. Oh, gee, really? What was the first clue? A ton of money is being spent by other candidates on this thing, and it's just good money after bad at this point. Think of all the haircuts John Edwards could buy if he spent the campaign cash on his hair!
- House Ways and Means Committee Chairman Charles Rangel's tax hikes are psycho! Excerpts.. "Rangel's reform would be the biggest tax increase in history ... the bill raises taxes by a whopping $3.5 trillion over the next 10 years ... that's about $2 trillion more than the 10-year cost of the Bush tax cuts enacted back in 2001 ... Adding it all up, and adjusting for the tax rate on Medicare, the Rangel bill would raise the federal marginal tax rate on incomes above $500,000 to close to 48 percent ... it would give the U.S. the fourth-highest combined top marginal tax rate in the OECD, behind only Denmark, Sweden and France. " Obviously, this wouldn't get by Bush (or Giuliani in 2009), but Hillary 2009? Yeah, I'd imagine she'd go for it.
- A great quote of a quote on the Dennis Miller show relating to the Colorado Rockies losing to the Boston Red Sox. At the time, the Rockies had won 22 of 23, had a week off, and then lost the first two to the Red Sox (followed by the next two as well). "A week off is usually followed by an off week." Indeed! Rockies go out with a whimper.
