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Shock Comes to Harlem 2010 118
 
 

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RALPH AWARDED DIVERSITY MBA'S TOP 100 UNDER 50 PDF Print E-mail
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Jordan 4th Quarter '92
Ralph Baker, Executive Director of the Shock Exchange, was recently named as one of Diversity MBA Magazine's 100 Under 50 Executive and Emerging Leaders.  Ralph received his BA in economics from Hampden-Sydney College and his MBA from the Darden School of Business, University of Virginia.  The "boot camp" of MBA programs, Darden is considered one of the top business schools in the country.  At press time Ralph had the following to say:  "I am flattered that Diversity MBA Magazine would even consider me for such an award and equally honored for being recognized for my contributions to the New York Shock Exchange.  I, as well as my fellow students from the Darden class of 1993, consider myself an ambassdor for the school and am always cognizant of my responsibility to uphold the best of what Darden represents".  Mr. Baker will receive his award in person at the 2009 Gala in September in Chicago. 
 
FANS CHEER FOR BELGIAN AT US OPEN . . . WTW? PDF Print E-mail

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Woman without a country?
Kim Clijsters, an unseeded wildcard and the mother of an 18 month old daughter, defeated number 3 seeded Venus Williams in the US Open 6-0, 0-6, 6-4 Sunday to advance to the quarter finals.  Clijsters has been retired from tennis since 2007 but seems to have Venus' number, having defeated her three times in a row.  Ironically, Clijsters also defeated Venus for the 2005 US Open championship, her only Grand Slam title.  Williams displayed limited mobility due to patella tendinitis that bothered her the entire tournament.  However, it appeared to be anybody's match in the third set.  Despite Clijster's reputation for having both the mobility and power to compete with Venus, she also got help from the majority American crowd which cheered her on down the stretch.  Here is an except from the New York Times (picture courtesy of AP)

 
STANFORD CFO ADMITS TO PONZI SCHEME . . . SHOCKER! PDF Print E-mail

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"Prisoner's Dilemna"
On August 28th R. Allen Stanford of Stanford Financial, the Texas financier accused of orchestrating a $7 billion international Ponzi scheme, was hospitalized the same day that Stanford Financial's former CFO pleaded guilty to fraud and conspiracy charges.  Stanford was taken to Conroe Regional Medical Center, about an hour north of Houston, after complaining of rapid heart palpitations.  Conroe is near the penitentiary where Stanford is being held.  That same morning James Davis, Stanford Financial's former CFO, admitted in a Houston courthouse that he and several others knowingly bilked investors for decades.  Mr. Davis faces a maximum of 30 years in prison but hopes receive a reduced sentence.  In a classic case of "Prisoner's Dilemna", Mr. Davis is cooperating with federal prosecutors in helping them build a case against Allen Stanford.  Davis also admitted that an Antigua banking regulator had accepted bribes from Stanford in exchange for his agreement that the Antiqua Financial Services Regulatory Commission would not destroy the company's Ponzi scheme.  Leroy King, the regulator in question, is awaiting extradition to the U.S. from Antigua.

 
CERBERUS HEDGE FUND IMPLODES . . . WHO'S NEXT? PDF Print E-mail

Clients are fleeing hedge funds run by Cerberus Capital Management in droves.  The Wall Street Journal is reporting that investors have are withdrawing $5.5 billion, or about 71% of the hedge fund assets amidst investment losses and clients' need for liquidity.  The firm's main hedge fund, Cerberus Partners, lost 24.5% in 2008.  Since the fourth quarter of 2008 Cerberus has received several withdrawal requests from clients looking to liquidate their holdings amidst the global ecnomic crisis.  However, Cerberus refused to return cash, citing weak market conditions for asset sales.  In July 2009 Cerberus gave investors a window to withdraw funds which has led to a mass exodus of investors.

 
THE ANSWER TO NEW YORK . . . WHY NOT? PDF Print E-mail

Image SLAM Magazine is reporting that a few weeks ago, Allen Iverson's agent Leon Rose, and Knicks President Donnie Walsh met to discuss the possibility of Iverson joining the Knicks.  The Knicks are supposedly high on Ramone Sessions, a restricted free agent who had a big season for the Milwaukee Bucks, at the point guard position as well.  Sessions is reportedly looking for a multi-year contract starting at the mid-level exception while Iverson is willing to accept a one-year contract at the mid-level exception of $5.85 million.  Nothing against Sessions but I'm not sure what the hesitation is on the Knicks' part with Iverson.  Always electrifying, the year he put the Sixers on his back and nearly willed them to the NBA championship  against a Shaq (Shaq in his prime, may I add) led Lakers is still one of the most brilliant performances I have ever witnessed in basketball.

 
UNSAFE BRIDGES STILL IN NEED OF STIMULUS FUNDS PDF Print E-mail

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Snake River Bridge, Grasston MN

The Associated Press reports that in spite of the Shock Exchange's March 2008 update for the next president to invest in the country's decaying infrastructure, tens of thousands of unsafe/decaying bridges carrying 100 million drivers per day are being passed over for stiumulus funds.  This past winter Congress passed a $787 billion "stimulus package" to help repair the country's infrastructure, including "crumbling bridges."  Lawmakers saw the chance to reduce the $65 billion backlog in needed bridge repairs that are often neglected until a catastrophe like the bridge collapse in Minnesota over a year ago.  Here is link from the our March 2008 investment meeting which detailed the need for infrastructure investing:  http://www.newyorkshockexchange.com/content/view/52/59/ 

 
DAVE GOES TO WHARTON PDF Print E-mail
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Gordon Gekko
Congratulations to David Neverson, Shock Exchange boardmember, who will be attending the Wharton School of Business at the University of Pennsylvania in the Fall.  I heard he didn't get into Darden . . . LOL.  The team has really given Dave a work out over the years - tracking the Shock Exchange Fund, helping run the investment meetings, playing the "fall guy" whenever Coach Baker's stock picks don't pan out, driving the bus to the games in the wee hours of the morning, chastising DeSean for not stepping his game up, etc.  I had to break the bad news to the kids a few weeks ago that Dave would be moving to Philadelphia . . . actually, Shumba thought it was something he did.  On behalf of the kids and parents I would like to thank Dave for his tireless efforts over the years.  Good luck and God speed!
 
KING JAMES - EMPEROR HAS NO CLOTHES? PDF Print E-mail

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Seen my Y-chromosome?
By now I am sure everybody and their grandmother have weighed in on "Dunkgate" - Lebron and Nike's decision to hide the videotape featuring Jordan Crawford's dunk over Lebron.  I saw the tape a few days ago and still cannot figure out what the big deal is.  The hoopla made it seem like the dunk was Darryl Dawkinseque or something.  It appeared as if Jordan Crawford, who I understand is a sophomore at Xavier, simply beat his man off the dribble and looked to finish at the rim.  Lebron rotated over late to try to deny Crawford.  Crawford, who had elevated just before Lebron, flushed the ball through above Lebron's outstretched hands.  Getting dunked on in basketball or getting your bell rung in football is all part of the game.   

 
UK RECRUIT JOHN WALL DISRESPECTS HIS ELDERS PDF Print E-mail

Click the link below to see U.K. freshman John Wall smash on Jerry Stackhouse.  Kid has drawn comparisons to Derrick Rose and now I see why.

 
HOPE AND CHANGE UP IN HARLEM PDF Print E-mail

Image Believe it or not, on Friday afternoon before the event, I received a call from Governor Patterson's office apologizing that could not attend the tournament as planned due to some of the recent political unrest up in Albany.  I was flattered, however, that he would even consider attending or felt the need to give me an explanation.  He also sent us a letter which I would be remiss if I did not share it with all of the attendees who made the tournament happen.  The letter read something like this:

Dear Friends:  I am delighted to send greetings to everyone gathered at the City College of New York for New York Shock Exchange Comes to Harlem.

 
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