Yesterday’s vote on the InfuSystem acquisition was postponed to October 10, which suggests that – had it been held today – management feared it would have failed. (Why else postpone it?) This would also explain why the warrants have been trading at such a bargain price. But note that the warrants have not completely plunged – and I have not sold mine – because, presumably, people are working hard to find a way to make it work. Will they succeed? Fortunately, because we have bought these warrants only with money we can truly afford to lose, we can just nap peacefully for a couple of weeks until we find out.
MOVE-ON’s PETRAEUS AD
Brooks Hilliard: ‘Whether or not the substance of Move-On’s ad was accurate, the ad was disrespectful and dysfunctional. It accomplished the exact opposite of what opponents of the continuing Iraq occupation should be trying to do: it attracted new support to the President’s otherwise dwindling backers. How much more effective would the ad have been if the title had been: ‘Gen. Petraeus, Give Us the Truth, Not More Spin.’ Begala’s point is good, but it doesn’t address the negative effect of the ad and it stoops to Rove-like levels. When the facts are with you, playing even mildly dirty hurts rather than helps.’
Jack Rivers: ‘Last night Keith Olbermann detailed how Rush Limbaugh, back in January created the ‘Betray us’ pun by saying, ‘We have General Petraeus, and we have Senator Betray Us’ (referring to Vietnam war veteran and Republican Chuck Hagel).’
Don S.: ‘Do two wrongs really make a right with politicians? I think supporting one’s position by showing that the other side does it is really pathetic.’
☞ I agree with Brooks, above; and of course I agree with Don that two wrongs are just, well, doubly wrong. But I don’t agree the situations were equivalent. Move On was trying to make a strong political statement to end a war and save lives. Those who attacked Kerry and Cleland were doing it for personal gain. It is fair to ask whether a general – fine and dedicated though he is – may be providing us with preconceived spin. This is the same general who, six weeks before the 2004 election, told us that American troops were making significant progress in Iraq – an assessment that did not serve us well.
David J. Olson: ‘Do you always re-invest dividends, or do you take the cash and look for other opportunities.’
☞ Dividend Reinvestment Plans are wonderfully convenient, efficient, and prudent for the small investor. Big investors would typically make each investment decision on its merits.
APPLE GENIUS LINES
Tamara Hendrickson: ‘You can make an appointment online to see an Apple Genius in the store. At my store, sometimes the wait is 90 minutes, so on the rare occasions I have to go in for computer help, I make a timed appointment at home and then head for the mall.’
Quote of the Day
In 1992, more was spent on legal fees in California [$16.3 billion] than on auto repairs, funerals, tanning salons, one-hour photo finishing, videotape rentals, detectives and armored car guards, bug exterminators, laundry, haircuts, day care, shoe repairs and septic tank cleaning combined.~Census Bureau survey, as reported in the LA Times
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