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Texas Youth Football Team Receives Death Threats Over Anthem Protests PDF Print E-mail

The San Francisco 49ers' Colin Kaepernick has created a national dialogue with his protest  is prof the national anthem. Kaepernick has vowed not to honor a flag the oppresses people. Now a youth football team from Beaumont, TX has followed Kaepernick's lead. The team and the coaching staff kneeled and placed their hands on each others' shoulders when the anthem was played. They wanted to show solidarity with Kaepernick and others across the country who were kneeling to bring attention to the oppression of blacks across the country. They received death threats for their efforts.

 
George Washingon Coach Mike Lonergan Fired For Abusing Players PDF Print E-mail
ImageAfter an internal investigation of claims of player abuse, George Washington coach Mike Lonergan was reportedly fired Friday by the university. The source spoke anonymously since the school as not officially announced the firing. The source also said the coaching staff was alerted on Friday that Lonergan had gotten the axe. In April a George Washington player complained to an on-campus Title IX coordinator about verbal and emotional abuse at the hands of Lonergan; this prompted George Washington launched an investigation in July.
 
Video: Hillary Collapses At 9/11 Ground Zero PDF Print E-mail
Presidential hopeful Hillary Clinton left Sunday's 9/11 Ground Zero ceremony in New York prematurely. She apparently suffered from heat exhaustion, which will not help dispel rumors that her health is failing her. He had to helped to her van by security. She then fainted and nearly collapsed before security caught her and prevented her head from hitting the pavement. Hillary's absence kept the crowd buzzing at the event. Video of her fainting spell was rather alarming.
 
Dear Congressman Hultgren: Technology Won't Stop The Next Bernie Madoff PDF Print E-mail

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As the economy stalls after eight years of record low rates and a corporate debt binge that will likely end badly, the media is fixated on the next Bernie Madoff. Madoff was behind a $50 billion Ponzi scheme that shocked the country due to his sheer brazenness, and the fact that it went undetected. The SEC only became aware of it after Madoff turned himself in. Weeks later Allen Stanford's $7 billion Ponzi scheme emerged. The Guardian article, How to stop the next Bernie Madoff, by Congressman Randy Hultgren of Illinois has created a lot of buzz. Mr. Hultgren suggests Madoff was able to thwart the SEC because they were using outdated technology. In my opinion, technology alone won't stop the next Madoff. A backbone would help.

 
Seahawks' Jeremy Lane Sits Through National Anthem In Support Of Kaepernick PDF Print E-mail
The San Francisco 49ers' Colin Kaepernick kept his promise by sitting during the National Anthem of the team's preseason game with the Chargers. He was booed unmercifully by the fans; I do not ever remember a back up quarterback garnering this much attention. To everyone's surprise he was joined in his protest by teammate Eric Reid. Meanwhile, Seahawks defensive back, Jeremy Lane, also protested the Anthem during their game against he Oakland Raiders.
 
Weatherford Asks Employees To Buy Its Worthless Stock ... Just Like Enron PDF Print E-mail

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Thursday Weatherford's (WFT) stock inexplicably surged over 8% to $6.29 on nearly twice the daily average trading volume. I am on record that WFT is insolvent by $3.1 billion. Weatherford needs a strong stock price in case it needs to issue more equity to fund its insolvency. To keep its stock from tanking, market chatter suggests the company has asked employees to participate in a stock repurchase program. The odd part is that management has allegedly stopped matching funds to the company's 401k program -- removing a major employee incentive to participate. Why would Weatherford then entice employees to invest in an insolvent company? The move is reminiscent of Enron right before it collapsed.

 
Teammate Joins Kaepernick In Flag Protest PDF Print E-mail
Image The "Colin Kaepernic Watch" continues. Kap has vowed not to honor the flag of a country that oppresses African Americans. In Thursday's preseason game with the San Diego Chargers he took a knee while the National Anthem was being played. To everyone's surprise this time he was joined (  http://www.cbssports.com/nfl/news/look-one-of-kaepernicks-teammates-joins-him-in-sitting-for-national-anthem/  ) by teammate Eric Reid. 
 
Kaepernick: "I Will Not Show Pride In Flag For Country That Oppresses Black People" PDF Print E-mail

ImageColin Kaepenick has been making national news lately, but none of it has anything to do with his play on the field. His refusal to salute the flag during the National Anthem has garnered supporters and made others apoplectic. The U.S. is a powder keg. The country is still in the throws of a recession and stories of police brutality against African Americans has launched protests across the country. I know a little about Kaepernick's background, but his decision to sit during Anthem took me by surprise:


 
Weatherford International: The Oil Industry's Bernie Madoff? PDF Print E-mail

Image Awash in $100 oil prices after the Financial Crisis of 2008, Weatherford International (WFT) spent billions on capex to help clients drill for oil. It also splurged on a string of acquisitions to expand operations. The Fed's quantitative easing ("QE") program came to an end in Q2 2014. Oil prices then diverged to the downside, taking Weatherford's business prospects with it. When principal payments came due on Weatherford's $8 billion debt load in Q1 2016, it created a strain on the company's liquidity. Bernie Madoff, Chairman and head of Madoff Investment Securities LLC ("BMIS"), faced a similar problem in December 2008.

 
Weatherford Is Insolvent By $3.1 Billion PDF Print E-mail
ImageCorporations have feasted on record low interest rates, particularly energy companies. When oil prices were above $100 Weatherford International borrowed billions to fund acquisitions and capex. Now that oil is more than 50% off its Q2 2014 peak, Weatherford is sitting on $3.2 billion of goodwill and intangibles, and $5.3 billion of PP&E that are practically worthless. Year-to-date the company has raised $630 million in equity and over $2.7 billion in debt to fund principal payments and operating losses. However, the company continues to lose money and burn through cash. Q2 revenue and EBITDA fell Y/Y by 41% and 67%, respectively. Year-to-date it has experienced free cash flow of -$400 million. Its cash burn -- even as the business contracts -- should come as no surprise. I am on record that based on liquidation value Weatherford is insolvent. At Q2 2016 it is now insolvent by over $3 billion.
 
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