Previous month:
September 2010
Next month:
November 2010

October 2010

NASCAR executive Jim Hunter dies at 71

Forward by Bob Barney: I liked Jim Hunter. He knew the sport, he knew the drivers, and he knew what was needed to make NASCAR racing, especially at the local level, a beloved sport. You will be missed. I am proud to have known you.

Jim Hunter was among the first class of inductees into the NASCAR Hall of Fame in May 2010.

Jim Hunter, NASCAR's vice president for communications, died of cancer Friday in Daytona Beach, Florida, the racing organization announced Saturday.

"Just woke up and find out that Jim Hunter a great friend passed away. All the prayers for his family," NASCAR driver Juan Pablo Montoya tweeted Saturday morning.

Hunter, who was 71, was involved in auto racing for more than 40 years, according to his NASCAR obituary. He was inducted to the NASCAR Hall of Fame in May.

"Jim Hunter was one of the most charismatic people in NASCAR," Chris Browning, president of Darlington Raceway, was quoted as saying on a commemoration page. "Everyone at Darlington Raceway will certainly miss Jim's smile, stories and laugh."

After starting out as a journalist with the Columbia (South Carolina) Register and Atlanta Journal-Constitution, Hunter moved into public relations, first with Dodge's motorsports division and several drivers, then with Darlington Raceway and Talladega Superspeedway.

He joined NASCAR in 1983 as vice president of administration before being named president of Darlington Raceway in 1993. NASCAR Chairman and CEO Bill France Jr. wooed him back in 2001 to take over the organization's public relations. France died in 2007.

Hunter is survived by his wife of 48 years, Ann, two children and three grandchildren. Funeral arrangements are pending.

70% of All Stock Market Trades Are Held for an Average of 11 SECONDS!!!!

Washington’s Blog

The Fourteenth Banker writes today:

In the stock market, program trading dominates volume. I heard recently that 70% of trade positions are held for an average of 11 seconds.

He’s correct.

As the New York Times dealbook noted in May:

These are short-term bets. Very short. The founder of Tradebot, in Kansas City, Mo., told students in 2008 that his firm typically held stocks for 11 seconds. Tradebot, one of the biggest high-frequency traders around, had not had a losing day in four years, he said

Similarly, FT’s Martin Wheatley pointed out last month:

I know of one HFT firm operated out of the west coast of the US that boasts its average holding period for US equities is 11 seconds.

Read Full Article

Retired and broke: Why retirees are declaring bankruptcy

For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy, according to a recent study by John Pottow, professor of law at the University of Michigan Law School.

Those aged 65 and older represented seven percent of bankruptcy filers in 2007, a mind-boggling jump from 1991. They are the “fastest-growing age demographic,” according to Pottow’s study.

What’s the culprit for so much debt? Credit cards. Two-thirds of Americans who filed for bankruptcy said credit cards were the key reason for their financial problems, according to Pottow’s research.

Besides having more credit card debt compared with younger bankruptcy filers, 44.8 percent of those aged 65 and older also had more plastic in their wallets. “They’re using credit cards as a maladaptive coping mechanism,” Pottow says.

Stephanie Osterland, a supervisor in the bankruptcy department at GreenPath debt solutions, sees an increasing number of seniors living beyond their means. Says Osterland: “They’re just trying to live off of a fixed income, and that’s usually Social Security. Maybe they have a small pension. We find they’ve used credit cards to supplement that income and expenses or they just end up getting into a lot of medical debt.”


The Perfect Storm

Robert Reich

It's a perfect storm. And I'm not talking about the impending dangers facing Democrats. I'm talking about the dangers facing our democracy.

First, income in America is now more concentrated in fewer hands than it's been in 80 years. Almost a quarter of total income generated in the United States is going to the top 1 percent of Americans.

The top one-tenth of one percent of Americans now earn as much as the bottom 120 million of us.

Follow biblical principles, build wealth

Book cover - Building Wealth: Priorities and Practices - by Steve McCutcheonSteve McCutcheon, president and chief investment officer of SCM Associates, Inc., penned the book, Building Wealth: Priorities and Practices to not only share about securing financial independence, but also to teach readers to understand that God has rewards for those who abide by biblical principles.


"I call it a book of inspiration and instruction," McCutcheon notes. "I outline in the first part of the book what the Bible says about money, particularly prosperity and the right way to approach building wealth according to the scriptures. In the second part, I talk about building wealth by investing in common stocks."

And when it comes to those "common stocks," the author says it is important to do the homework and learn about investments because not every company operates by Christian standards.

Steve McCutcheon"Most people really don't know the companies that are in mutual funds...annuities or some third-person-type of investment that they use," he points out. "You want to invest in the quality companies that have good financials, have good growth prospects, have good products, have good management and have a higher return on equity."

He adds that there is also the matter of knowing the difference between greed and wanting to make money.

"The difference between the greed principle and the individual who is seeking God is the spiritual aspect. We have to get right before him and identify what his principles are and how he wants us to operate within the realm of the spiritual," the author contends. "I spent an entire chapter on stewardship. You get yourself right whenever you make a large, sacrificial gift on the front end. Those kinds of things begin to work in us spiritually, [and] we don't even recognize ourselves after we go through these steps."

Finally, McCutcheon recommends asking God for a vision of what he wants from his children financially and for him to reveal how to bring it about.

These comments were made recently on American Family Radio's Today's Issues program.

Clean Energy's Dirty Little Secret

Cheapcar  Hybrid cars and wind turbines need rare-earth minerals that come with their own hefty environmental price tag.-- The unincorporated community of Mountain Pass, California, has little to recommend it to tourists. A scraggly outcrop of rocks and Joshua trees alongside Route 15, it has no kitschy landmarks like the 134-foot-tall thermometer that nearby Baker, California, installed in the Mojave Desert, and no casinos like Las Vegas has an hour up the road. But behind a Band-Aid-colored industrial gate lies an attraction of sorts: a 55-acre open-pit mine created by a 21st-century gold rush, one result of the effort to keep the world from getting hotter than it already is. Mountain Pass’s mine contains a rare-earth ore that yields neodymium, the pixie dust of green tech—necessary for the lightweight permanent magnets that make Prius motors zoom and for the generators that give wind turbines their electrical buzz. In fact, if we are going to make even a few million of the hybrid and electric cars that are supposed to help rescue the planet from global warming, we will need to double production of neodymium in short order. But in 2006, nearly all of the world’s roughly 137,000-ton supply of rare-earth oxides came from China. And over the past few years, China has cut exports to nurture its own permanent-magnet industry, sending the price of neodymium oxide to a high of $60 a kilo in 2007.   Clean Energy's Dirty Little Secret

Debtor's prison- in the past? think again......

You committed no crime, but an officer is knocking on your door. More Minnesotans are surprised to find themselves being locked up over debts.

As a sheriff's deputy dumped the contents of Joy Uhlmeyer's purse into a sealed bag, she begged to know why she had just been arrested while driving home to Richfield after an Easter visit with her elderly mother. The reason? She owed a debt... read the ret of this incredible story....



Celebrate Christopher Columbus

Christian Europe had conducted overland trade with India and China for products like silk and spices. But the Mogul Empire, which had allowed this trade to pass through lands under its control, started to fragment. The emerging Muslim states in the area started to prevent free movement of trade to Europe. The Turks captured Constantinople in 1453. The price of goods from the Far East rocketed. Portugal then tried to find a sea route eastwards to the Indies. Columbus had a different solution, his proposal was to travel west across the Atlantic to the Indies.

It is sometimes claimed that Columbus had difficulty obtaining finance for his plan because Europeans believed that the earth was flat, a claim mooted in Washington Irving's 1828 novel, The Life and Voyages of Christopher Columbus. In truth, it was not the shape of the earth that was an issue, but the circumference and hence the distances involved.

Most academics, in Columbus day, accepted Ptolemy's hypothesis that the world's landmass (for Europeans of the time this meant the known world of Eurasia and Africa) occupied 180 degrees of the terrestrial sphere, leaving 180 degrees of water to be crossed to get to Asia westwards. Columbus believed that 1° represented a shorter distance on the earth's surface than was commonly held. He calculated the circumference of the Earth as 25,255 km at most. The true circumference of the Earth is actually about 40,000 km. No ship in the 15th century could carry enough food for voyages of the real distance. Most European sailors concluded that undertaking a westward voyage from Europe to Asia would be impossible as crews would die of starvation or thirst before reaching Asia.  LINK

S&P: 60% of countries will be bankrupt within 50 years

Predicts US will have a debt of 415% of GDP by 2050

Daniel Tencer
Raw Story

Some sixty percent of the world's economies will be so in debt by 2060 that their debt will be downgraded to "junk" status, effectively bankrupting the countries, says a report from Standard & Poor's ratings agency, which also warns that attempts to deal with the problem could cause social instability.

The report (PDF) -- entitled Global Aging 2010: An Irreversible Truth -- says that the proportion of the world's population that is elderly is set to explode to such a degree that many countries will simply not be able to keep up with the ballooning costs of health care and other services.

As elderly people live longer, due to better health care, the proportion of elderly to the rest of the population grows, meaning an ever shrinking proportion of working people is relied upon to fund services for the elderly.

But the report warns that efforts to scale back the costs of government services could "severely test social cohesion." And the authors admit that public opinion, in general, is unfavorable to cutbacks in social services.

Read Full Article

Revelations from Kent State audio tape prompt congressional inquiry

CLEVELAND, Ohio — U.S. Rep. Dennis Kucinich is launching a congressional inquiry into an altercation and apparent pistol fire that occurred about 70 seconds before Ohio National Guardsmen shot students and antiwar protesters on May 4, 1970.

The violent clash and four shots from a .38-caliber revolver were captured by a student's tape recorder, placed in a dormitory window. The sounds of the altercation recently were discovered by Stuart Allen, a forensic audio expert who analyzed the 40-year-old tape at The Plain Dealer's request. The newspaper reported Allen's findings Friday.

Kucinich, who chairs a House sub-committee with oversight of the FBI and Justice Department, said the paper's account prompted his inquiry.  LINK

Famous Smoking Chimpanzee Dies At 52

Forward: Yes, even a smoking chimp lives longer than average! Smoking has been demonized by the liberal left (most who smoke by the way) in order to control every aspect of your life! Read our smoking many reports HERE , Here and Here


Charlie the chimp, known for his cigarette habit, has died at his home in a South African Zoo.

After picking up a smoking habit because of cigarettes being thrown into his enclosure at the Mangaung Zoo in Bloemfontein, South Africa, Charlie began to bum smokes from zoo visitors by gesturing to his mouth with two fingers, mimicking the actions of smokers he'd watched. (See photos of the world's most endangered primates)

Visitors continued to indulge the chimp, bringing on a hailstorm of accusations from animal rights activists when videos surfaced online not long after, prompting Bloemfontein zoo officials to try to cut Charlie's nicotine supply off entirely.

Zoo officials claim that smoking was not a factor in the Charlie's death, who at 52, lived ten years beyond the normal life expectancy of the average chimpanzee.


Obama as Roman emperor -- the rise and fall of the propaganda master

Oxford, England – Two years ago, Democrats were clamoring to ride in on Barack Obama’s coat tails. Proximity to the Obama persona was a prized political asset.

Today, amid dim presidential polling numbers, anxious Democrats are keeping their distance. Some, like Rep. Chet Edwards of Texas, have even used campaign ads to tout their defiance of Mr. Obama’s agenda.

To understand Obama's fall, we must understand his rise; and to do that, we must look to ancient history. It was neither for his resume nor his policies that America fell in love with him. In fact, Obama's policy priorities have turned out to be quite unpopular.   Read The Rest

Globalism Destroys America's Middle Class

Dr. Jerome Corsi
Global Research

A series of reports released by the Census Bureau this month make clear the income gap between the richest and poorest Americans is widening, as free-trade globalism destroys the U.S. middle class.

Red Alert has consistently warned that the current high rate of unemployment and the shrinking of the middle class are not the result of a current recession.

Instead, the main argument of my book "America for Sale: Fighting the New World Order, Surviving a Global Depression, and Preserving USA Sovereignty" is that this is what globalism looks like.

UFO closes Chinese airport

An airport in Baotou, Inner Mongolia, was forced to shut to prevent passenger jets crashing into a UFO, according to reports.

Three flights to Baotou from Shanghai and Beijing were reportedly forced to circle the airport until the UFO disappeared.

Two other flights were diverted away from Baotou and to the nearby cities of Ordos and Taiyuan. The airport was shut for around an hour "to guarantee safety" according to a spokesman.

Witnesses reported a bright light shining in the sky on September 11 around two-and-a-half miles away from Baotou airport, before suddenly vanishing.

The incident was the eighth reported UFO sighting in China since the end of June.

Xiaoshan International airport near the eastern city of Hangzhou was shut down on July 8 because of a UFO, although officials later confirmed the object sighted above the airport had been part of a military test at a nearby airbase.

In the far-western province of Xinjiang, another sighting on June 30 is thought to have been a missile test.

A number of sightings in Sichuan province may also be linked to the local custom of flying illuminated kites at night.



Robo-Signing: Documents Show Citi and Wells Also Committed Foreclosure Fraud

Documents submitted to a court are supposed to be true as submitted. As an attorney, if I file with a court a document in which I swore that I personally verified the information contained within the document is true, but I didn't actually do that, I'd get in real trouble. It's simple: That's fraud in the eyes of the court.

GMAC, JPMorgan Chase (JPM), Bank of America (BAC) and One West Bank employees routinely sign hundreds of documents without verifying what they're signing. Those documents are then submitted to courts as if the documents were true, to enable the banks to foreclose on delinquent properties. Wells Fargo (WFC) and Citigroup's (C) CitiMortgage told The New York Times their employees do not engage in similar practices. Yet, new evidence I've found shows they have. At deadline, I was still awaiting a response from CitMortgage.

Confusion at Wells Fargo

See full article from DailyFinance:

Fears of Chinese land grab as Beijing's billions buy up resources

China is pouring another $7bn (£4.4bn) into Brazil's oil industry, reigniting fears of a global "land grab" of natural resources.

State-owned Sinopec clinched the deal with Spain's Repsol yesterday to buy 40 per cent of its Brazilian business, giving China's largest oil company access to Repsol Brasil's estimated reserves of 1.2 billion barrels of oil and gas. The whopping price tag for Repsol Brasil – which values the company at nearly twice previous estimates – is a sign of China's willingness to pay whatever it takes to lock in its future energy supplies and avoid social unrest. It will give the company enough cash to develop all its current oil projects, including two fields in the Santos Basin.   MORE

Schwarzenegger Signs Bill Decriminalizing Marijuana

GOOD NEWS! Potheads might drop out of the Libertarian Party!

The California Governor, Schwarzenegger, who opposes Proposition 19, this morning signed a landmark bill in the state of California which decriminalizes the possession of marijuana. For those wondering, this does not make marijuana possession legal, but it no longer will be a misdemeanor offense. Instead of the mandatory fine of $100 as well as the mandatory appearance in front of a judge, the outcome of being caught with marijuana will now simply be a $100 fine. The new law will be in effect on January 1st and include anyone caught with up to an ounce of marijuana. Basically the possession of the drug is seen no different by California now than speeding is.  MORE