Books Worst Enemy
EOG Addicted
Is anyone else perplexed by the way the market is completely ignoring Katrina?
I mean, we just lost an NFL/NBA town. I can already hear the CEO's on their quartely conference calls blaming the next four quarters on Katrina. There is no way eliminating 1/2 million jobs and forcing a 1/2 million people out of their homes and losing all those assets will not hurt corporate america.
Yet the market hasn't even noticed. In my opinion this is far worse than 9/11 long term. The market completely tanked after 9/11 and for the next year and half CEO's were using 9/11 as their excuse for a bad quarter. This will make 9/11 look like chopped liver from a corporate view point.
How much will this cost Bell South? Harrahs? Time Warner? Countless small business were forced into chapter 11 over night. Can creditors expect to be repaid on all the loans that were oustanding in New Orleans or will they be greeted with BK paperwork? How much will Berkshire and the other insurance players pay out on this deal?
This is a much bigger deal, financially, than 9/11 ever thought about being and the market is UP since last Friday's close.
The more I think I know about the stock market, the more I find out I really am clueless. This will cost corporate america HUNDREDS of BILLIONS!
Later,
Books Worst Enemy
I mean, we just lost an NFL/NBA town. I can already hear the CEO's on their quartely conference calls blaming the next four quarters on Katrina. There is no way eliminating 1/2 million jobs and forcing a 1/2 million people out of their homes and losing all those assets will not hurt corporate america.
Yet the market hasn't even noticed. In my opinion this is far worse than 9/11 long term. The market completely tanked after 9/11 and for the next year and half CEO's were using 9/11 as their excuse for a bad quarter. This will make 9/11 look like chopped liver from a corporate view point.
How much will this cost Bell South? Harrahs? Time Warner? Countless small business were forced into chapter 11 over night. Can creditors expect to be repaid on all the loans that were oustanding in New Orleans or will they be greeted with BK paperwork? How much will Berkshire and the other insurance players pay out on this deal?
This is a much bigger deal, financially, than 9/11 ever thought about being and the market is UP since last Friday's close.
The more I think I know about the stock market, the more I find out I really am clueless. This will cost corporate america HUNDREDS of BILLIONS!
Later,
Books Worst Enemy