*Investors Blog*

[Pablo]

Crypto Lender BlockFi Follows FTX Into Bankruptcy

Cryptocurrency lender BlockFi filed for bankruptcy, making it the latest major digital assets company to fail since FTX, with which BlockFi is financially intertwined.

www.wsj.com

 

[Dave Hess]

Rare and limited edition Pokemon trading cards are a much better investment than any crypto.

Lots of crypto whales laughing all the way to the bank (with real cash).

 

[jetman]

I bought some VALE the other day which is a Brazilian mining company that struck a deal with GM to provide them with nickel for there EV batteries and are currently working with Tesla. Pays a 9.34% dividend

VALE is down 25% from its 52 wk high,
and in 2022 it paid a 5% divided, $0.687 when the stock was trading at $13.60
Who knows what/if they'll pay in 2023?

 

[Pablo]

I'm sure she's a fine woman and all, but what did she do:

a) to leave so quickly
b) get $10Meg

WSJ News Exclusive | AMC Networks to Lay Off 20% of U.S. Workers as CEO Christina Spade Exits

The company has been under pressure from cord-cutting as Americans have moved from traditional pay-TV packages to streaming services. Shares of AMC closed 5.3% lower.

www.wsj.com

 

[KrisZ]

I'm sure she's a fine woman and all, but what did she do:

a) to leave so quickly
b) get $10Meg

WSJ News Exclusive | AMC Networks to Lay Off 20% of U.S. Workers as CEO Christina Spade Exits

The company has been under pressure from cord-cutting as Americans have moved from traditional pay-TV packages to streaming services. Shares of AMC closed 5.3% lower.

www.wsj.com

Another diversity hire that cannot handle the pressure? At least she’s white, so she can be let go without much drama. Oops, am I too direct?

 

[PWMDMD]

I'm sure she's a fine woman and all, but what did she do:

a) to leave so quickly
b) get $10Meg

WSJ News Exclusive | AMC Networks to Lay Off 20% of U.S. Workers as CEO Christina Spade Exits

The company has been under pressure from cord-cutting as Americans have moved from traditional pay-TV packages to streaming services. Shares of AMC closed 5.3% lower.

www.wsj.com

I have no specific knowledge of this situation but I can say I have a family member who has taken on several short-term leadership positions at large companies during transition phases where his short tenure and compensation was part of the plan from day 1. He specializes in taking companies through bankruptcy but has also taken the lead during other short-term transitions and he NEVER plans to stay past the transition. Could this be the case here? That she was never the long term pick and she was there as a place holder until they found who they really wanted?

IDK...just asking the question.

 

[SC Maintenance]

I have no specific knowledge of this situation but I can say I have a family member who has taken on several short-term leadership positions at large companies during transition phases where his short tenure and compensation was part of the plan from day 1. He specializes in taking companies through bankruptcy but has also taken the lead during other short-term transitions and he NEVER plans to stay past the transition. Could this be the case here? That she was never the long term pick and she was there as a place holder until they found who they really wanted?

IDK...just asking the question.

I read she signed on 2 years ago as the CFO, so maybe they asked her to stay to run the place for 3 months and the $10M was part of her complete package?

 

[PWMDMD]

I read she signed on 2 years ago as the CFO, so maybe they asked her to stay to run the place for 3 months and the $10M was part of her complete package?

Perhaps? The deals the guy I know have been unbelievable for the amount of work he actually puts into the company. His first shot at CEO was a similar situation where he was CFO and was asked to be interim CEO through bankruptcy. When asked if he'd want the job permanently he said he'd stay 1-2 years but not long term - he made bank for about 18 months worth of work. That was the start of him "transitioning" companies. He did that for a few years and now he mainly works for short periods of time doing very specific things for companies - at 52 he doesn't have to go back to work ever. He maintains the same home on Long Island and has these companies rent him a house wherever he ends up working and he flys out Sunday night from NY and flys home Friday night. He was commuting weekly from NY to Florida for a while and then NY to Montreal. During CV-19 and even now he mostly works out of a home office and telecommutes. Crazy times...

 

[Pablo]

I read she signed on 2 years ago as the CFO, so maybe they asked her to stay to run the place for 3 months and the $10M was part of her complete package?

I'm sure it was.

WSJ News Exclusive | AMC Networks to Lay Off 20% of U.S. Workers as CEO Christina Spade Exits

The company has been under pressure from cord-cutting as Americans have moved from traditional pay-TV packages to streaming services. Shares of AMC closed 5.3% lower.

www.wsj.com

AMC Networks to Lay Off 20% of U.S. Workers as CEO Christina Spade Exits​

........... planning to lay off about 20% of its U.S. employees, a sign of further disruption at a company that earlier Tuesday announced its chief executive had stepped down less than three months after taking the reins.

“We have determined we need to conserve resources at this time,” the entertainment company said Tuesday. “This will involve cutbacks in operations which unfortunately includes a large-scale layoff, impacting approximately 20% of our employees in the U.S.” AMC said it has about 1,000 U.S. employees.

 

[Warstud]

VALE is down 25% from its 52 wk high,
and in 2022 it paid a 5% divided, $0.687 when the stock was trading at $13.60
Who knows what/if they'll pay in 2023?

It is up 6% Today

 

[SC Maintenance]

It is up 6% Today

Fire all CEO's. 6% to the people!

 

[Dave Hess]

I read she signed on 2 years ago as the CFO, so maybe they asked her to stay to run the place for 3 months and the $10M was part of her complete package?

Lots of C suite jobs have a ‘golden parachute’ as part of their employment agreement no matter how short of a period they stay at company.

Must be nice to be a millionaire with very little effort on their part, but that’s how the corporate world works compared to the lower non important worker ants.

 

[Pablo]

In other words he (some people?) think crypto junk should be backed with real dollars? It's FAKE money. It''s NOT money. Get it?

What a bullshitter. People should be able to still get their...............cash??? It never was cash. Once money or gold or anything even with fiat value was swapped, it was GONE.

Mr. Bankman-Fried said Wednesday he believed most U.S. exchange customers should be able to recover their locked-up crypto but that FTX’s international customers may not be able to.


“I’m confused why FTX US isn’t processing withdrawals right now,” he said, adding that he believed it should be able to return all assets belonging to American customers.


Representatives for FTX’s new management didn’t immediately respond to a request for comment Wednesday. John J. Ray III, FTX’s new chief executive, has criticized Mr. Bankman-Fried for making “erratic and misleading” statements since he stepped away from the firm.


FTX suffered a “complete failure of corporate controls” according to Mr. Ray, who said in a bankruptcy-court filing that in his 40 years in the business of restructuring companies, including Enron, he has never seen anything as bad as FTX.

Sam Bankman-Fried Denies Knowing Scale of Bad Alameda Bets

Sam Bankman-Fried said that he didn’t intend to commit any fraud or use customer funds to back leveraged bets that went wrong at Alameda Research, a crypto hedge fund attached to FTX that pushed the exchange to bankruptcy.

www.wsj.com

 

[SC Maintenance]

In other words he (some people?) think crypto junk should be backed with real dollars? It's FAKE money. It''s NOT money. Get it?

What a bullshitter. People should be able to still get their...............cash??? It never was cash. Once money or gold or anything even with fiat value was swapped, it was GONE.

Sam Bankman-Fried Denies Knowing Scale of Bad Alameda Bets

Sam Bankman-Fried said that he didn’t intend to commit any fraud or use customer funds to back leveraged bets that went wrong at Alameda Research, a crypto hedge fund attached to FTX that pushed the exchange to bankruptcy.

www.wsj.com

Your 100% correct but your mixing 2 issues.

1) Crypto is fake money / ponzi / call it what you want.
2) FTX was an exchange for above assets, and many crypto's still have some "value" like Bitcoin or Ethereum, albeit pennies on the dollar. Still people should be able to get their pennies, but they can't because this clown stole their money.

 

[Pablo]

Your 100% correct but your mixing 2 issues.

1) Crypto is fake money / ponzi / call it what you want.
2) FTX was an exchange for above assets, and many crypto's still have some "value" like Bitcoin or Ethereum, albeit pennies on the dollar. Still people should be able to get their pennies, but they can't because this clown stole their money.

Yes I did lump it all together.

I did know FTX is an exchange. Which actually even makes it more sad that people trusted him/it.

 

[Dave Hess]

All cryptos and all exchanges are 100% pure trash.


Stick to old, boring, proven and easy way to invest money to buy ‘real’ stocks, ETFs and mutual funds through Fidelity, Vanguard, TD Ameritrade, etc….

I made a little money this year trading ’real’ stocks and ETFs. Big tax bill and every penny gain reported to IRS.

 

[Pablo]

All cryptos and all exchanges are 100% pure trash.

Stick to old, boring, proven and easy way to invest money to buy ‘real’ stocks, ETFs and mutual funds.

US dollar is fiat money as well, but has the tax payer and demand behind it.

Any person with over $1Meg or so, should have some real assets.

 

[ArrestMeRedZ]

Every time there is a young investor speaking of the virtues of crypto, all I hear is "Crypto's got electrolytes. Plants need it."

 

[alarmguy]

Tesla cutting Model Y production in China 20% this month, not sure what that will mean for the stock today.
Seems like a bit of a slippery slope, sales and production jump early Nov followed by price cutting and now production cut.
I am not invested but do watch its behavior as I am kind of drawn to GM, thinking maybe it will be different this time after decades of the same old excuses.

 

[Dave Hess]

Apple explores moving some iPad production to India, sources say

The tech giant is trying to diversify its manufacturing away from China, but has run into some roadblocks from the Indian government, sources tell CNBC.

www.cnbc.com

Apple getting tired of all these never ending lockdowns….