The Market Ticker
Commentary on The Capital Markets
2015-03-29 11:28 by Karl Denninger
in Earnings , 159 references

So to answer the questions on what I think of the firm's earnings report: Nice, in a word.

Let's remember one thing right up front: BlackBerry's CEO has said one thing about the firm's forward guidance -- they would be earnings-positive in this (now) fiscal year.

Now in context: They achieved a profit instead of a loss this last (last quarter of previous fiscal year) reporting period.

At least as important, they did so on a cash-flow basis -- not "after items."  Companies that have positive cash flow are not in financial trouble and this was confirmed by the company's cash balance, which increased.

Further the hardware sales are profitable, so there's nothing to whack off that is losing money.

I want those of you who have taken shots at this firm over the last several years to answer one question: Chen has now put forward several statements as to what he would do, and he has done them.  When do you stop attacking a guy who says "I'm going to do X" and then he does it -- ahead of or on schedule?

As for the firm's hardware prospects I believe that the first time a truly ugly security breach is traced to either Android or IOS on a mobile device, and I firmly believe this will happen in due course, you're going to see an utterly-enormous and immediate move in the corporate space to the only secure alternative that can also run Android apps.

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From so-called Business Insider:

The jury is in: Interim Reddit CEO Ellen Pao has lost her historic gender discrimination lawsuit against former employer and venture capital powerhouse Kleiner Perkins Caufield & Byers, meaning she gets nothing. 

But sexism and gender discrimination is a very real problem within the technology industry. 

It is?

Here's reality: There is no real barrier of any sort.  What there is, such as it is, is a lack of people willing to forge their own path.

You're not entitled to anything in this world, and especially not when it comes to the rarified atmosphere in entrepreneurial pursuits.  Other than, of course, the right to pursue your dreams and goals.

Which, I might note, Ellen Pao has -- just as does everyone else.

I've seen a lot of women cry discrimination in various roles, but here's the thing -- in a world where nothing stops you from going out and blazing your own path, and the United States is that place more than ever (to the point that trying to claim otherwise is a waste of time) today, if someone doesn't like you that doesn't rise to "discrimination."

We are a land of equal opportunity -- not equal result.  And guess what -- I don't like a lot of people.  They're about equally divided between men and women, which is no surprise since the population is likewise equally divided (more or less.)

If Ellen thinks there's something magical about her abilities (and let's face it, we're all special snowflakes, right?) then why doesn't she cobble up some people who think just like her (which, incidentally, could be all women!) and have at it.

There was an argument for discrimination claims when people were literally blackballed from entire industries. To the extent someone tries that today (bonne chance, says I!) then have at the lawsuits.  But beyond that exactly what stops someone with the sort of 0.1% level talent Ellen claims from going out and starting her own VC firm and cleaning everyone's clock -- assuming she really is as good as she says, that is....

I'll tell you what's more likely: She's not really that good, and thus she was fired for the same reason most people are -- they just don't get it done.

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This*****es me off.....

Indiana is preparing to declare a public health emergency Thursday in a county in the southern part of the state over an HIV outbreak.

Health officials say 72 cases of HIV been confirmed in Scott County and seven other people have been preliminary positive for HIV infections. All of those infected either live in Scott County of have ties to it.

This outbreak is a direct result of the drug war.

The culprit appears to be a liquid-form prescription painkiller that is being diverted and used on the street.  The problem is that due to the illegal nature of this abuse syringes are being reused and it only takes one person with HIV that does so to "seed" a huge number of people through mutual re-use of injection equipment.

Yes, abuse of (any) drug is bad.  Pick one; tobacco, booze, weed, or Opana, the apparent painkiller involved in this series of infections.

Those of you who wish to moralize -- you're hypocrites if you walk into a church and take Communion; body and blood of Christ anyone?  Yeah, the wine is a drug.  Yeah, I get it you claim you're not "abusing" it, and yeah, it's legal too, whether consumed in your home, a church or a bar.

The legal status of one over the others is your doing, not the inherent nature of same.  And incidentally, Priests do become alcoholic on occasion (which makes that use abuse, see.)

We're way past the time when as a nation we need to cut the crap and stop criminalizing drug use.  Make anything people want to buy available at the pharmacy to anyone of legal age in quantities appropriate for personal use and at the same time sell, with it, one-time-use syringes that cannot be (by design) reused.  The latter does exist and were we to do both we'd cut off the infection disease vector at its knees.

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This one's real simple:

smiley One Dollar of Capital smiley

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It's time for those who claim to uphold the rule of law (cough-Republicans-cough!) to appoint an independent prosecutor with the goal of determining whether a black-letter violation of the law regarding obstruction has occurred and, if so, to bring charges.

Hillary Clinton wiped her email server "clean," permanently deleting all emails from it, the leader of the House committee investigating the 2012 terror attacks in Benghazi said Friday.

Rep. Trey Gowdy, R-S.C., said the former secretary of state has failed to produce a single new document in recent weeks and has refused to relinquish her server to a third party for an independent review, as Gowdy has requested.

It does not matter when Hillary decided to do this.  All that matters is that she knew at the time that the records in question might be requested during an investigation and destroyed them so as to prevent their production.

The law under 18 USC 1519 is extremely broad and does not require that the person destroying (or ordering the destruction) of records know of an investigation at the time or even that said investigation exist.  It is only requires that the item destroyed might have reasonably become subject of a future investigation before any department or office of the United States.

18 USC 1519 was added by Sarbanes-Oxley which, incidentally, Hillary Clinton voted for as a Senator and thus knows damn well applies to both this situation generally and to her specifically.

Stand up America.

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