My school friend Donna's parents were what was referred to as "lint heads". They toiled in the mills until they retired and I just remember how dirt poor they were. They closed the mills in downtown Charlotte and remade the whole area to something super nice now called NoDA.
Mom and the sister live in Concord, home now to Concord Mills that was converted to a huge mall.
And for a little more trivia, my accountant in NC was also a "Beal". Wonder if they are related to this man.
When our firm consulted at garment plant we called them rag pickers. Used to get cat calls, really cracked me up as I got no looks. Last one I remember consulting, just before operations moved to Costa Rica was in 2002. They about all gone now.
OT: Reading through the DJT financials that were released this morning. They borrowed so much money that they paid $39 million *in interest*. I mean, holy fuck - their revenue was less than $5 million.
Daniel, I'm no genius about this either. But what I understand is that because it is financed by a SPAC (Special Acquisition something something) dark money can flow into it. Also, there is typically a 6 month wait to pull any money out or to sell his shares. However, with the value dropping as it is, to be able to pull out $175M for his next fine, it will be extremely scrutinized. We may just catch him with his hands in the piggy bank and add yet MORE charges.
All of our laws and civilization always seem to be a mere pretense sometimes. Just a play act we all participate in to mask the unstated threat of violence lurking behind it all.
You will accept your place and play by the rules we invented and rigged in our favor, or we will gather more force than you can and put you in your place or put you in the ground.
Learning about some of these early strikes and the brutal, often deadly working conditions faced by early 20th century textile/garment workers left an enormous impression on me at the time. I was about 12 years old when the topic came up in my history class. I was taking sewing lessons on the weekend and the lessons at school inspired me to learn everything I could about making my own clothes.
I can't look good in an outfit that someone else suffered to create.
Workers at America’s largest chain of bookstores are gearing up for a nationwide union drive after six Barnes & Noble outlets voted to organize over the past year.
“Many more” stores will unionize, according to booksellers demanding better pay and conditions...
On Manhattan’s Upper West Side, workers at Barnes & Noble backed unionizing earlier this month. “We live in the most expensive city in the country,” Esther Rosenfield, a barista at the store, said. “And our starting wage until very recently was minimum wage, and it’s just not sustainable.”
Shortly after her store filed for a union election, Rosenfield said, employees there and at other locations received a $2-an-hour market rate adjustment: “We were told basically that this had nothing to do with the union. But I think people can draw their own conclusions based on just the proximity to when it happened.”
Always a Friendly Reminder that Christopher Rufo is leading the GOP crusade to end public education and repeal child labor laws so kids will be forced into the labor market to replace all those immigrants Trump is gonna deport if he gets back in the Oval Office.
Ta, Erik. This is the high price one pays for cheap clothes. A better world is still possible.
My school friend Donna's parents were what was referred to as "lint heads". They toiled in the mills until they retired and I just remember how dirt poor they were. They closed the mills in downtown Charlotte and remade the whole area to something super nice now called NoDA.
Mom and the sister live in Concord, home now to Concord Mills that was converted to a huge mall.
And for a little more trivia, my accountant in NC was also a "Beal". Wonder if they are related to this man.
When our firm consulted at garment plant we called them rag pickers. Used to get cat calls, really cracked me up as I got no looks. Last one I remember consulting, just before operations moved to Costa Rica was in 2002. They about all gone now.
I remember them being called rag pickers as well.
Guys, if you're worried about the share price of DJT stock, don't fret. Devin Nunes is CEO.
LOL! This will fail spectacularly. Oh how I am loving that!
Don't have a cow, man.
OT
This morning DJT is down about 22% and wobbling around $48.
I don't think he has to worry about selling his stock in 6 months.
I think the company will be gone by then.
I will bet anyone a McDonald's hamburger on this.
Don't laugh and call me a cheapskate! Why not?
Today on CNBC the talking haircuts and Cramer said their hamburger will be $100 very soon.
Because today in Rainy, Windy and Cold California the fast food minimum wage went to $20 !!
Probably $50 for fries, so, no, you do not get fries!
Yeah McD's said the same after they had to raise wages and they ended up with the biggest profits they have had so far. That's a load of BS.
Idaho taters last year were all smallsmallsmall due to heat and drought. Not famous for tates any more. Nazis seem to be doing OK, tho.
What's amazing is that it's come back up from $46 today. Who the hell is buying in right now?
Normally I would say a short squeeze, but I don't know what the short is %.
Russians?
Or Saudis
You hate to see it.
TRUMP MEDIA & TECHNO DJT: NASDAQ
April 1
$48.73-$13.23(-21.35%)
It was up to nearly $80 on the first day of trading. Heh.
The shorts are rejoicing.
Remember when Rom and O'Brien organized Quark's?
https://external-preview.redd.it/ZLuLibP4m3kebys0W_FqoL7EF6w35n_AIR3wRFAEVyo.jpg?auto=webp&s=3dd7f088163e3b7111cee7f8c93e5fb7e8b02d6f
Thanks, Erik. Enlightening as always!
Thanks, Prof. Loomis! I always enjoy your posts.
I assigned your Ten Strikes book for my grad readings course on Technology, Capitalism, and the State.
OT: Reading through the DJT financials that were released this morning. They borrowed so much money that they paid $39 million *in interest*. I mean, holy fuck - their revenue was less than $5 million.
Just another grift - the tramp steaks of boiler rooms.
That's one helluva deep hole he's digging there.
And it’s still trading at $48 a share. I’m not sure it’s worth $48 per company right now.
Article today in WAPO “why have millennials and younger developed such a poor opinion of capitalism”
This specifically is why.
I honestly am completely ignorant of finance, stocks, shares etc. so this might be a very naive or just very stupid question-
can he use this for money laundering?
Daniel, I'm no genius about this either. But what I understand is that because it is financed by a SPAC (Special Acquisition something something) dark money can flow into it. Also, there is typically a 6 month wait to pull any money out or to sell his shares. However, with the value dropping as it is, to be able to pull out $175M for his next fine, it will be extremely scrutinized. We may just catch him with his hands in the piggy bank and add yet MORE charges.
Is there any other purpose for it?
I have a follow up question as I am a dumb with the money
Can he count the billions and billions lost as deductions on his taxes …..
(Brief interjection where I laugh so hard I nearly hack up a lung at the prospect of #45 paying taxes)
….until the end of time? Even though the billions DJT stock was “worth” was always pretend?
And then he slowly siphons cash for himself. See also failed casinos. Who bankrupts a casino much less 4 of them?
OT: Fresh aid for Ukraine on track for approval by the end of the month.
Thirty days hath September, April, Junes and November. . . . End of the month is a long time away.
But on the bright side, not as long as it would be in July or August.
Absolutely absurd it’s taken 2 but good news nonetheless
About time.
He's so inept and cowardly, yet so arrogant, his "innovations" are DOA.
Just in case you were nodding off ...
𝗖𝗶𝗰𝗮𝗱𝗮𝘀 𝗮𝗿𝗲 𝗻𝗮𝘁𝘂𝗿𝗲’𝘀 𝘄𝗲𝗶𝗿𝗱𝗼𝘀. 𝗧𝗵𝗲𝘆 𝗽𝗲𝗲 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝘁𝗵𝗮𝗻 𝘂𝘀 𝗮𝗻𝗱 𝗮𝗻 𝗦𝗧𝗗 𝗰𝗮𝗻 𝘁𝘂𝗿𝗻 𝘁𝗵𝗲𝗺 𝗶𝗻𝘁𝗼 𝘇𝗼𝗺𝗯𝗶𝗲𝘀
https://apnews.com/article/cicadas-fungus-zombies-pee-urination-pumps-7bf34c2d7a3955efc13cfa05e92f27cb
Okay, do I take this article at face value, or do I factor in the fact that it is April 1?
But cicadas don’t pee stronger than a Cocker Spaniel! No way!
GOP: “Wealth trickles down!” “A rising tide lifts all boats!”
Workers: Hey, that wealth ain’t trickling down! What gives?
GOP: You’d shut up if ya knew what’s good for ya! Be grateful for the scraps your betters give you! You lazy no good commies who don’t want to work.
A rising tide may lift all boats, but a rising private lake does not.
Just sayin'
They’re not in boats anymore. They’re in private jets. And it’s no longer a tide, it’s a tsunami.
All of our laws and civilization always seem to be a mere pretense sometimes. Just a play act we all participate in to mask the unstated threat of violence lurking behind it all.
You will accept your place and play by the rules we invented and rigged in our favor, or we will gather more force than you can and put you in your place or put you in the ground.
Learning about some of these early strikes and the brutal, often deadly working conditions faced by early 20th century textile/garment workers left an enormous impression on me at the time. I was about 12 years old when the topic came up in my history class. I was taking sewing lessons on the weekend and the lessons at school inspired me to learn everything I could about making my own clothes.
I can't look good in an outfit that someone else suffered to create.
𝗕𝗮𝗿𝗻𝗲𝘀 & 𝗡𝗼𝗯𝗹𝗲 𝘄𝗼𝗿𝗸𝗲𝗿𝘀 𝗽𝗹𝗮𝗻 𝘂𝗻𝗶𝗼𝗻 𝗱𝗿𝗶𝘃𝗲 𝗮𝘁 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝗨𝗦 𝗯𝗼𝗼𝗸𝘀𝘁𝗼𝗿𝗲 𝗰𝗵𝗮𝗶𝗻
Workers at America’s largest chain of bookstores are gearing up for a nationwide union drive after six Barnes & Noble outlets voted to organize over the past year.
“Many more” stores will unionize, according to booksellers demanding better pay and conditions...
On Manhattan’s Upper West Side, workers at Barnes & Noble backed unionizing earlier this month. “We live in the most expensive city in the country,” Esther Rosenfield, a barista at the store, said. “And our starting wage until very recently was minimum wage, and it’s just not sustainable.”
Shortly after her store filed for a union election, Rosenfield said, employees there and at other locations received a $2-an-hour market rate adjustment: “We were told basically that this had nothing to do with the union. But I think people can draw their own conclusions based on just the proximity to when it happened.”
https://www.theguardian.com/books/2024/apr/01/barnes-noble-workers-union-drive
Always a Friendly Reminder that Christopher Rufo is leading the GOP crusade to end public education and repeal child labor laws so kids will be forced into the labor market to replace all those immigrants Trump is gonna deport if he gets back in the Oval Office.