Oops. If you sent me one between 9pm Tuesday and 5:30pm Wednesday, it went into oblivion. Sorry.
They put off the vote again, this time to October 19. Back to the nap.
AN EVEN BETTER HONDA AD
☞ I still drive a 1997 Jeep Grand Cherokee, because I drive only maybe 200 miles a year. (Poor me, shut in writing columns for you day after day.) To sell it would be to put a gas guzzler into the hands of a normal person who would drive it 15,000 miles a year. But if Hondas are half as good as their ads . . .
MARRYING A DEPRECIATING ASSET
Sue: ‘In re yesterday‘s alleged Craig’s List item . . . see, that’s what I suggested to you a while back, that the idea of marriage simply makes no sense today, for the rich and beautiful, the poor and ugly, straight people or gay people. It is the insurance rules and legal constraints that should be changed. Perhaps people could be allowed to designate one other person as their partner for legal and insurance purposes whether it is a friend, a child, a parent, a sibling, or any other selected person. Besides being a depreciating asset, at the time of courtship and marriage we don’t have a clue whether or not we will love another person for a week, a year, 10 years or 70 years. We don’t know if they will abuse us, cheat on us, turn out to have mislead us, turn out to be criminal, or lazy, an addict of some sort, or worst of all, want to watch Fox news (I had no idea when I got married that such a thing could happen).’
Mike Corcoran: ‘I once emailed you that my interpretation of the Republican motto was ‘Outta my way, me first!’ I have been one-upped. Neil Volz, former aide to imprisoned Rep. Bob Ney, told the Columbus Dispatch: ‘But it’s kind of like I took on this mind-set that there was a machine at work and I was just a cog in the machine. And, therefore, I need to get mine.’ ‘I need to get mine.’ This is the party of Abraham Lincoln and Teddy Roosevelt? Sheesh!’
LJ Kutten: ‘Interesting article on blank check companies here.’
☞ We did great with Aldabra, which turned into GLDD, making five or ten times our money, before tax, in about a year . . . we are nervously napping with HAPN, which hopes to turn into InfuSystems . . . and we hope that Aldabra 2 will soon be Boise Paper Company. In that latter case, the warrants last traded at $1.58, which I consider a good speculation, since – if the deal is done and the stock stays at $9.50 where it was last night – their intrinsic value is $2 (because they give you the right to buy this $9.50 stock for $7.50), so you pay less than nothing for the ‘time value’ of the option (namely, the three years you will have, once they become exercisable next summer, to sit back and decide whether to exercise them and buy the stock at $7.50).
Quote of the Day
The test of our progress is not whether we add more to the abundance of those who have much, it is whether we provide enough for those who have too little.~Franklin D. Roosevelt
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