Tag Archives: somebody

The Dry Bulk Market Is More Exciting Than You Think

by ChangMTQhgv Posted on April 27, 2017

Mother Jones

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The Wall Street Journal has an intriguing story today on its front page:

When stocks rose after last year’s presidential election, DryShips Inc. left the market far behind. The little-known Greek dry bulk carrier’s epic one-week rally pushed its shares up by 1,500% for no apparent reason. The rally quickly unwound after the shares were briefly suspended by Nasdaq, but the run-up appears to have made possible a flurry of financial maneuvers that may earn the company’s founder a huge windfall, according to calculations by The Wall Street Journal, while small investors suffered hundreds of millions of dollars in losses. Since they peaked, DryShips’s shares are down by 99.9%.

The Journal provides a handy timeline of events surrounding DryShips. I’ve added the line in red:

Somebody was sure excited about the prospects for bulk shipping in the Trump era. This is especially mysterious since DryShips announced that it was defaulting on its loans (“suspending principal and interest payments”) right before the huge price runup.

Oddly enough, when I went looking for the performance of other dry bulk carriers at around the same time—fully expecting to find that DryShips was indeed unique—I found another carrier with a very similar profile. Right after the election, stock in Globus Maritime skyrocketed 900 percent for a day or two:

Very strange. I guess the dry bulk market is not a place for amateurs.

See original article here – 

The Dry Bulk Market Is More Exciting Than You Think

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Fox News and Food Stamp Fraud: The Finale

by yonggarling1379 Posted on December 30, 2016

Mother Jones

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Abby Huntsman promised to “address” her baseless story about food stamp fraud on Fox & Friends today. So how did she do? Mediaite tells us:

Huntsman admitted the error the following day, reading a correction twice on-air: “We reported that back in 2016, $70 million were wasted on food stamp fraud. That was actually incorrect.”

“The latest information from 2009 to 2011 shows the fraud at 1.3%, which is approximately $853 million for each of those three years, and nationally food-stamp trafficking is on the decline. So sorry about that mistake,” she said.

“Food stamp trafficking is on the decline.” I wonder how much of her audience understands that this means “food stamp fraud is on the decline”? Oh well. At least she mentioned it.

I have to say, though, that what I’m really curious about is where the original $70 million figure came from. Made up out of thin air? Somebody read the wrong column in a report? Or what? I literally can’t think of what sort of data you could dig up that would lead to this number, even in error. I suppose we’ll never know.

Continued here – 

Fox News and Food Stamp Fraud: The Finale

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O Glory! Pops Staples Was Magnificent—and Rockin’

by HeriberDarker Posted on March 2, 2015

Mother Jones

The Staple Singers
Freedom Highway Complete – Recorded Live at Chicago’s New Nazareth Church
Legacy

Pops Staples
Don’t Lose This
dBpm/Anti-

What a monumental legacy Roebuck “Pops” Staples left behind! From the mid-1950s on, his family group, the Staple Singers, was a premier gospel act. In the ’70s, they scored a number of uplifting R&B hits, including “Respect Yourself” and “I’ll Take You There.” Up until his death in 2000, Pops Staples continued making compelling, moving music.

Freedom Highway Complete, recorded in April 1965, captures Pops and his kids, Mavis, Yvonne and Pervis, at the height of their testifying powers, electrifying a churchgoing audience the month after Dr. King’s history-changing marches from Selma to Montgomery, Alabama. From the exuberant title track to the foot-stomping “Samson and Delilah,” it’s a thrilling concert, thanks to the interplay of the Staples’ robust voices, Pops’ shimmering, pithy guitar licks, and spirit-lifting rhythms. It’s magnificent—and rockin’!

Don’t Lose This collects 10 songs that Pops recorded in 1999 but never finished. Last year, daughter Mavis took the incomplete recordings to Wilco’s Jeff Tweedy, who worked on her more recent solo albums, and together they turned the tracks into a proper album, adding voices and instrumentation. (If Tweedy took the liberty of mimicking Pops’ distinctive guitar in places, he did a great job.) Mavis’ rousing voice is prominent, but it’s still her dad’s show. His tender yet forceful singing on “Somebody Was Watching Me” and on Bob Dylan’s “Gotta Serve Somebody” is sure to inspire. The album is a fitting memorial to this endearing genius.

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O Glory! Pops Staples Was Magnificent—and Rockin’

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