Profits down for big oil:Exxon,Shell and Chevron.Unravelling of Potash Cartel good news for farmers.

Profits down for big oil:Exxon,Shell and Chevron.Exxon,my second largest holding for number of share largest for value(amount of money).All the big oil companies are try to cash in on Shale Boom,but this has lead to more production,hence,more supply and demand is down as economic lumbers along lead to lower prices.Also Exxon is so huge,it actually produces more oil than state of Texas,hence,it might be too big to succeed,this maybe why there is talk of breaking up Exxon into three companies.But I think although the price of stock is a bit too high,I still think for long term it's good company,with little debt,and even though the price of natural gas is very low Exxon buying the biggest producer of  natural gas XTO Energy was very smart move and help profit this quarter by billion dollars.
Shell is writing down(not cash lost) it's holding of shale in the U.S.A. and may sell some of it's holdings.
Chevron a stock most analyses like over Exxon also saw profit down.Problem maybe that counties with big oil reverses:like Iraq and Mexico aren't open to big oil,however, in Mexico there is talk of ending or maybe selling or selling of Pemex.
Russian potash producer Uralkali has pull out of partnership with Belarus,hence,unravelling of Potash Cartel good news for farmers,hence,agriculture stocks just might do well.

Believe or not there was time when the U.S almost went to war with Great Britain for Venezuela rights.

Believe or not,there was time when the U.S almost went to with Great Britain for Venezuela rights.
Back in 1895 there was border dispute between Venezuela and British Guyana(which is part British Empire).British Guyana was claiming land of Venezuela rich with minerals and British government was threatening to send troops to occupy the land in dispute.To some peoples surprise President Cleveland put his presidency on the line,and said it was the U.S duty to resist every means in its power the expropriation of any land by Great Britian.He base this on the Monroe Doctrine.Now some were surprise because Cleveland's foreign policy was general one of being passive and non-infering,some cynically said his action were to get people's minds off panic of 1893(one worst economic downturns in U.S history)however,to fair to Cleveland he was anti-imperialist.
Anyway war fever it high pitch,mainly driven by a newspaper man William Randolph Hearst,the king of yellow journalism,although he didn't invent yellow journalism,that dubious honor goes to Joseph Pulitzer,who Hearst took on when brought the Journal whose circulation went up to 150,000 from 20,000 under Hearst.As time went on crys for war with Britain over Venezuela faded away and cry was for war with Spain over Cuba.
Also Britain had it's hands full with war  in South Africa so at end day the Venezuela land dispute was settle by boundary commission set up by President Cleveland. 

Leonard Garment R.I.P

I didn't realize it,until today when I pick an old Wall Street Journal dated 7/16/13 that Leonard Garment had past away.It didn't make any real news,yet he was high power attorney,first in New York City then in Washington D.C. Brought to D.C by Richard Nixon,who Garment had work in Nixon's law firm(Nixon,Mudge,Rose,Guthrie and Alexander which Nixon become parnter after being attimed to the New York bar.After he was defeated for Governor of California,he left California and moved to New York City) Garment despite being a liberal Jew(a Jazz aficionado I don't think Nixon's cup of tea) Nixon and him become great friends.
There is great story about Garment and Nixon on business trip to Florida,in Tom Wicker's biography of Nixon called,"One of Us".Despite being a liberal,in his case worst type of liberal a White Southern liberal,Tom Wicker's,"One of Us" was pretty favorable biography of Nixon.Wicker is outstanding writer,he has pasted himself,but words live forevermore and his economy of words,he can say so much with few words.For example he once said about President Reagan,the media thought he dumbest man alive,that is until he win re-election then they got scare of him because they realize he knew something they didn't.
He wrote small biography about Eisenhower,were he tells a story in 1956 campaign Wicker is working at small newpaper in North Carolina and on the side he is rasing money for Stevenson.He confronted by blue haired publisher's wife,Wicker defends himself by saying it's insurance,in case who know who gets in.The woman replys"young man I vote for Eisenhower even if he was dead."
Back to Garment and Nixon's trip to Florida.In 1966 Nixon was argue a case before Supreme Court,but his experience was very limited as trial lawyer so on business to Fla. he took Garment,a very experience trial lawyer as coach of sorts.Anyway place Nixon had arranged to stay,was trap to get publicity for developer he knew a friend of his,which he had meet eariler in day,a C.E.O of a drug company had pool house he and Len could use for night,however,it was 3 in morning and place would lock up and protect by a 8 ft wall.So third in morning Nixon and Garment with brief cases in hand and business suits put foots in clasp hands and climb the wall to the pool house.

A fool can turn the world upside down.

A fool can turn the world upside down,so it must be George Zimmerman.Not racist,not evil man but damn fool.He wanted to be a hero,so follow Trayvon Martin and confronted him,but bit off more than he can chew,for Zimmerman is a fat overweight,out shape man,Martin was young fit young,hence,Martin started beating the crap out Zimmerman,who panic,indeed,he did think he's life was in danger and shot and killed Martin.This would never happen if Zimmerman stay in car,as he was told to do and if Martin wasn't angry young man,maybe trying to prove his manhood.A tragedy no doubt cause by stupidity.But world see color,maybe,in everything people march mindless saying they want justice,but they don't even know what justice is and other people demonize Martin who's great was being at wrong place,at wrong time and maybe trying to prove his manhood.White,black division people are interested truth but settling what believe without reason,hence, a fool like Zimmerman can turn the world upside down.

Phil filled the bill number 5 in majors for he took the high and win in Scotland.

Phil filled the bill number in majors,for he took the high road and  win in Scotland,home of golf.Too bad for Lee Westwood,a gent no doubt,but snake bitten in majors maybe he's day will never come.Of course,Muirfield is pictures,like dream of good life,quaint with rule of no woman but disappear as roar of modern life appears and ugly head will rule the day.
Nelson Peltz wants Pepsi to buy Mondelez(old Kraft's international businesses)and the Pepsi to spin off Drinks from snacks businesses.
G.E profits are up because jet engine parts business and Oil and Gas division,which go open a global headquarter in London town.There would been time when such headquarter would have been in New York,until the 1970's both Mobil and Exxon had there headquarter in New York City,but people are stupid and chase them away with good jobs and lot of money for state and city New York.But media and schools will never mention this because they don't have minds.

Elon Musk the next Henry Ford or maybe Preston Tucker or more likely a Henry Kaiser?

Elon Musk the next Henry Ford or maybe Preston Tucker or more likely a Henry Kaiser? One thing for sure Bloomberg media loves Elon Musk ,for him and Egyptian guy(Bill Gross partner) are always on Bloomberg T.V and this week's cover story for Bloomberg Businessweek magazine was "Why Everybody(then sharp of a heart) Tesla."
Of course,is guy a new creative genius like Henry Ford flash in pan like Tucker or Henry Kaiser.Of course,he be more like Kaiser because Kaiser took lots of government money and was big supporter of New Deal.Indeed,because Tucker took no government money many think(although the bad guy movie was Republican Senator)Kaiser was behind Tucker's problems.A very aggressive prosecutor name Otto Kerner,who strong ties the Democratic Chicago machine,indeed,Kerner himself would later become Governor of Illinois(and like so many Governors of Illinois he wind up going to jail)he went after Tucker with tooth and nail but at end of the day Tucker was acquitted but his company ruined.Kaiser company would eventfully would become American Motors and George Rommey(Mitt's father) would eventfully become it's Chairman and President,then Governor of Michigan and Presidential contender but like son Mitt he'll fall short. 

Bank of America profits up 63 percent.CSX moving more coal?

Bank of America profits up 63 percent,better than expected mainly due to cost cutting.Stock 14 lots of upside,I think a long term buy.
CSX traffic in coal all way up,much demand from electric utilities maybe Coal is making a comeback,despite the Obama administration war on Coal.If Coal is making a comeback Peabody Energy a good buy.Also like CSX anyone that follows this blog knows I love American railroads,CSX is only the railroad however that is shareholder friendly.
Uncle Ben is up on Hill today saying the era of cheap money ain't over,in short ran good for stocks,however maybe in long run inflation raises it's ugly head,but then again Lord Keynes said,in long run we are all dead.