"Worth It"

Romans 6 (English Standard Version)

Dead to Sin, Alive to God

 ¹What shall we say then?^(A) Are we to continue in sin that grace may abound? ²By no means! How can^(B) we who died to sin still live in it? ³Do you not know that all of us^(C) who have been baptized^(D) into Christ Jesus were baptized into his death? ⁴We were^(E) buried therefore with him by baptism into death, in order that, just as^(F) Christ was raised from the dead by^(G) the glory of the Father, we too might walk in^(H) newness of life.

 ⁵For^(I) if we have been united with him in^(J) a death like his, we shall certainly be united with him in a resurrection like his. ⁶We know that^(K) our old self^[a](L) was crucified with him in order that^(M) the body of sin might be brought to nothing, so that we would no longer be enslaved to sin. ⁷For^(N) one who has died^(O) has been set free^[b] from sin. ⁸Now^(P) if we have died with Christ, we believe that we will also live with him. ⁹We know that^(Q) Christ, being raised from the dead, will never die again;^(R) death no longer has dominion over him. ¹⁰For the death he died he died to sin,^(S) once for all, but the life he lives he lives to God. ¹¹So you also must consider yourselves^(T) dead to sin and alive to God in Christ Jesus.
 ¹²Let not^(U) sin therefore reign in your mortal body, to make you obey its passions. ^13(V) Do not present your members to sin as instruments for unrighteousness, but^(W) present yourselves to God as those who have been brought from death to life, and your members to God as instruments for righteousness. ¹⁴For^(X) sin^(Y) will have no dominion over you, since you are not under law but under grace.

Slaves to Righteousness

 ¹⁵What then?^(Z) Are we to sin^(AA) because we are not under law but under grace? By no means! ¹⁶Do you not know that if you present yourselves^(AB) to anyone as obedient slaves,^[c] you are slaves of the one whom you obey, either of sin, which leads to death, or of obedience, which leads to righteousness? ¹⁷But^(AC) thanks be to God, that you who were once slaves of sin have become obedient from the heart to the^(AD) standard of teaching to which you were committed, ¹⁸and,^(AE) having been set free from sin,^(AF) have become slaves of righteousness. ^19(AG) I am speaking in human terms, because of your natural limitations. For^(AH) just as you once presented your members as slaves to impurity and to lawlessness leading to more lawlessness, so now present your members^(AI) as slaves to righteousness leading to sanctification.

 ^20(AJ) For when you were slaves of sin, you were free in regard to righteousness. ^21(AK) But what fruit were you getting at that time from the things^(AL) of which you are now ashamed?^(AM) For the end of those things is death. ²²But now that you^(AN) have been set free from sin and^(AO) have become slaves of God,^(AP) the fruit you get leads to sanctification and^(AQ) its end, eternal life. ^23(AR) For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord.

EXCLUSIVE: Restoration Hardware Planning Top-Level Layoffs

Posted By Andrew Lennon | Managing Editor | The Daily Anchor | On February 9, 2009 @ 4:13 am | 1 Comment
Corte Madera, CA
Inside sources exclusive to The Daily Anchor are reporting that home furnishings giant Restoration Hardware ^[1] (NASDAQ: RSTO [de-listed]) is planning to consolidate its upper-management in a last-ditch effort to reduce costs by cutting high salaries.
In August of 2007 the Marin Independent Journal reported ^[2] that Restoration Hardware laid off 100+ lower- and mid-level employees at its Corte Madera, CA corporate headquarters in an effort to save about $9 million a year in salaries and benefits, and then in October 2008 Restoration Hardware laid off another 33% ^[3]of its corporate workforce.
Sources say those layoffs of low-level employees shifted the workload to managers, leaving middle-management stretched too thin while not staving off the company’s financial crisis. BNET reports ^[4] that while Restoration Hardware’s fiscal revenue is $722.2M and their Market Cap is $163.6M, their revenue is a striking -$51.9M.
Struggling to regain profitability and yet unable to cut mid-level employees who are already stretched too thin, Restoration Hardware is said to be targeting upper management in the next round of layoffs.  No timeline has been set, but sources report that the layoffs are imminent.
Restoration hardware was a privately held company for the first 18 years, then went public in 1998, only to revert back to private investors - the Catterton Group ^[5] of Greenwich, CT - less than a year ago.

A rough year

1. In December of 2007 Restoration Hardware’s shareholders commenced a class action lawsuit ^[6] in connection with an offer by Sears Holdings Corp. to acquire all of the outstanding shares of RSTO. The lawsuit was ultimately settled in June of 2008 ^[7] when Restoration Hardware agreed to provide the Company’s shareholders with a common fund of $3.7 million, or almost $0.19 a share, to remedy alleged misconduct by the Restoration Hardware Board in precluding Sears Holdings Co. from making a tender offer to shareholders for $0.05 per share more than the current merger agreement ^[8] with Catterton Partners.
2. In July of 2008 BNET reported on Restoration Hardware’s financial struggles in their article Five Signs You Have a Crummy Job. ^[9]

“A mid-level employee at Restoration Hardware says slowed consumer spending has the company in lockdown mode. The staff used to be intense and driven, but motivation has deteriorated as top-level management becomes fixated on saving every penny instead of investing in better tools to manage inventory. “There are people like myself who are capable and willing to create the tools,” she says, “but it’s a combination of not having the financial resources or the desire for change.”

3. In October 2008 the Securities and Exchange Commission (SEC) charged former RH Vice President ^[10] Ciriaco “Eric” Rivor and three of his friends with Insider Trading.
4. On January 27, 2009, Restoration Hardware closed its Grand Rapids ^[11], MI location.
5. On January 29, 2009 RH closed its Eureka, CA landmark store ^[12], its very first location that opened in 1979.

Reputable sources

Though Restoration Hardware has not yet issued an official announcement of the upper-management layoffs, The Daily Anchor has a strong history of accurately scooping layoffs based on sound information from inside sources:

• On January 19, 2009 The Daily Anchor was the first to break the news of the Williams Sonoma layoffs ^[13], 3 days before the layoffs commenced, in which 1,400 full-time employees were let go
  
• On January 26th we accurately predicted that Pfizer would layoff up to 50% ^[14] of its sales force following its merger with Wyeth
  
• On February 2nd we were the first to report on the Rapp Ad Agency ^[15]layoffs in New York and Chicago

The bottom line?

As any William’s Sonoma ^[16] employee will tell you, you better use up that sick time before its gone.
ShareThis
Related posts:

1. Microsoft Layoffs: 5,000 Jobs to be Cut Over Next 18 Months
   
2. Oracle Layoffs 2009: Sorting Fact from Rumors
   
3. Ogilvy Layoffs 2009: Follow-up
   
4. Pfizer Layoffs 2009: New Details Emerge and Rumors Abound
   
5. Google Layoffs: 5,000-10,000 Contract and Temp Jobs Get Cut

Source: The Daily Anchor | Marketing and Advertising Blog - http://www.thedailyanchor.com/2009/02/09/restoration-hardware-layoffs-on-the-way/#ixzz0CBiDFNER

I wanna dip my pen in the ocean

& write love letters in the sky

Fill up cumulus clouds with teardrops & confusion until they burst

I wanna cry you out onto waves

& scatter memories upon the shore

Collect broken seashells & call them treasures

I wanna bury my melancholy beneath earth

& build sand castles that reach up to heaven

Steal starlight & moonshine to find my way back to you

Said, I wanna walk on waters

& tiptoe across horizons

Laugh & talk with you for hours on end

NOT FINISHED

According to Russia, the invisible iron wall of America is just about ready to collapse. As soon as a single year, we could be split into FOUR nations. Sure, it should probably just be brushed off as just some crazy old man’s antics. But I mean, the idea is sooooo nuts, it just… kind of genius, I suppose. (?) But you gotta admit: it does makes you think: WHAT IF????Hmmm…

Regardless of whatever may or may not happen, one thing’s for damn sure: CALIFORNIA IS NOT GONNA BE BOWIN’ DOWN TO NOBODY ELSE – well, I dunno… I mean, I can’t speak for any other part of California really, but I can tell you right mothafucking now that the greater San Francisco Bay Area didn’t get to be called $UCKA FREE for no reason. Feel me though? We ain’t scared to kick you or your mama in the throat. Shiiit… haha JUST KIDDING!!! It’s all LOVE up in Fri$co. haha NONVIOLENCE, BABY! ;-) For really though.

DECEMBER 29, 2008

As if Things Weren't Bad Enough, Russian Professor Predicts End of U.S.

In Moscow, Igor Panarin's Forecasts Are All the Rage; America 'Disintegrates' in 2010

By ANDREW OSBORN

MOSCOW -- For a decade, Russian academic Igor Panarin has been predicting the U.S. will fall apart in 2010. For most of that time, he admits, few took his argument -- that an economic and moral collapse will trigger a civil war and the eventual breakup of the U.S. -- very seriously. Now he's found an eager audience: Russian state media.

In recent weeks, he's been interviewed as much as twice a day about his predictions. "It's a record," says Prof. Panarin. "But I think the attention is going to grow even stronger."

Prof. Panarin, 50 years old, is not a fringe figure. A former KGB analyst, he is dean of the Russian Foreign Ministry's academy for future diplomats. He is invited to Kremlin receptions, lectures students, publishes books, and appears in the media as an expert on U.S.-Russia relations.

But it's his bleak forecast for the U.S. that is music to the ears of the Kremlin, which in recent years has blamed Washington for everything from instability in the Middle East to the global financial crisis. Mr. Panarin's views also fit neatly with the Kremlin's narrative that Russia is returning to its rightful place on the world stage after the weakness of the 1990s, when many feared that the country would go economically and politically bankrupt and break into separate territories.

A polite and cheerful man with a buzz cut, Mr. Panarin insists he does not dislike Americans. But he warns that the outlook for them is dire.

"There's a 55-45% chance right now that disintegration will occur," he says. "One could rejoice in that process," he adds, poker-faced. "But if we're talking reasonably, it's not the best scenario -- for Russia." Though Russia would become more powerful on the global stage, he says, its economy would suffer because it currently depends heavily on the dollar and on trade with the U.S.

Mr. Panarin posits, in brief, that mass immigration, economic decline, and moral degradation will trigger a civil war next fall and the collapse of the dollar. Around the end of June 2010, or early July, he says, the U.S. will break into six pieces -- with Alaska reverting to Russian control.

In addition to increasing coverage in state media, which are tightly controlled by the Kremlin, Mr. Panarin's ideas are now being widely discussed among local experts. He presented his theory at a recent roundtable discussion at the Foreign Ministry. The country's top international relations school has hosted him as a keynote speaker. During an appearance on the state TV channel Rossiya, the station cut between his comments and TV footage of lines at soup kitchens and crowds of homeless people in the U.S. The professor has also been featured on the Kremlin's English-language propaganda channel, Russia Today.

Mr. Panarin's apocalyptic vision "reflects a very pronounced degree of anti-Americanism in Russia today," says Vladimir Pozner, a prominent TV journalist in Russia. "It's much stronger than it was in the Soviet Union."

Mr. Pozner and other Russian commentators and experts on the U.S. dismiss Mr. Panarin's predictions. "Crazy ideas are not usually discussed by serious people," says Sergei Rogov, [rzn] haha sorry, Sergei, but you are DEAD WRONG with that comment. Serious people are probably THE CRAZIEST motherfuckers alive. You’ve probably just never tripped off it… director of the government-run Institute for U.S. and Canadian Studies, who thinks Mr. Panarin's theories don't hold water.

Mr. Panarin's résumé includes many years in the Soviet KGB, an experience shared by other top Russian officials. His office, in downtown Moscow, shows his national pride, with pennants on the wall bearing the emblem of the FSB, the KGB's successor agency. It is also full of statuettes of eagles; a double-headed eagle was the symbol of czarist Russia.

The professor says he began his career in the KGB in 1976. In post-Soviet Russia, he got a doctorate in political science, studied U.S. economics, and worked for FAPSI, then the Russian equivalent of the U.S. National Security Agency. He says he did strategy forecasts for then-President Boris Yeltsin, adding that the details are "classified."

In September 1998, he attended a conference in Linz, Austria, devoted to information warfare, the use of data to get an edge over a rival. It was there, in front of 400 fellow delegates, that he first presented his theory about the collapse of the U.S. in 2010. [rzn] what a savage!!! That man is ready to die for his shit! Haha I like him already! J

"When I pushed the button on my computer and the map of the United States disintegrated, hundreds of people cried out in surprise," he remembers. He says most in the audience were skeptical. "They didn't believe me."

At the end of the presentation, he says many delegates asked him to autograph copies of the map showing a dismembered U.S.

He based the forecast on classified data supplied to him by FAPSI analysts, he says. He predicts that economic, financial and demographic trends will provoke a political and social crisis in the U.S. When the going gets tough, he says, wealthier states will withhold funds from the federal government and effectively secede from the union. Social unrest up to and including a civil war will follow. The U.S. will then split along ethnic lines, and foreign powers will move in.

California will form the nucleus of what he calls "The Californian Republic," and will be part of China or under Chinese influence. [rzn] ummm… NO. and HELL-TO-THE-FUUUUCK NO. California ain’t comin’ together to fall apart to a country that’s a whole PACIFIC OCEAN away. Shiiit… You may have studied US economics, but you sure as hell didn’t learn shit about the west coast. Oh, & get the name right, please: THE BAY AREA NATION. Texas will be the heart of "The Texas Republic," a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of an "Atlantic America" that may join the European Union. Canada will grab a group of Northern states Prof. Panarin calls "The Central North American Republic." Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia.

"It would be reasonable for Russia to lay claim to Alaska; it was part of the Russian Empire for a long time." A framed satellite image of the Bering Strait that separates Alaska from Russia like a thread hangs from his office wall. "It's not there for no reason," he says with a sly grin.

Interest in his forecast revived this fall when he published an article in Izvestia, one of Russia's biggest national dailies. In it, he reiterated his theory, called U.S. foreign debt "a pyramid scheme," [rzn] can’t argue with that one and predicted China and Russia would usurp Washington's role as a global financial regulator. [rzn] ha! Ooookay, buddy.

Americans hope President-elect Barack Obama "can work miracles," he wrote. [rzn] here, here – but he will. "But when spring comes, it will be clear that there are no miracles."

The article prompted a question about the White House's reaction to Prof. Panarin's forecast at a December news conference. "I'll have to decline to comment," spokeswoman Dana Perino said amid much laughter.

For Prof. Panarin, Ms. Perino's response was significant. "The way the answer was phrased was an indication that my views are being listened to very carefully," he says. [rzn] okay, Professor. Give it up – what are you smoking? … because I want some of that shit! Haha

The professor says he's convinced that people are taking his theory more seriously. People like him have forecast similar cataclysms before, he says, and been right. He cites French political scientist Emmanuel Todd. Mr. Todd is famous for having rightly forecast the demise of the Soviet Union -- 15 years beforehand. "When he forecast the collapse of the Soviet Union in 1976, people laughed at him," says Prof. Panarin. [rzn] that reminds me of something Carl Sagan once said… he said, “People may have laughed at Columbus – but they laughed at Bozo the Clown, too.” ;-)

Printed in The Wall Street Journal, page A1

http://online.wsj.com/article/SB123051100709638419.html

● Economy ●

American Civil War in 2010, Russian Academic Says

by Bill Bradley ● December 29, 2008, 12:51 PM

Photo illustration by Hamish Robertson.

With the beginning of 2009 looming, everyone seems to be nostalgic for the recent past. What with the countless arbitrary best-of and top ten lists, no one seems to be thinking about the future right now. Except Russian academic Igor Panarin who has been pondering the future of the U.S. for about a decade now, predicting the disintegration of our country and the next Civil War. Mark your calendars: it’s slated for 2010!

According to Panarin, starting January 1, America will begin a 12-month disintegration. The Wall Street Journal reports that Panarin forecasts “mass immigration, economic decline, and moral degradation will trigger a civil war next fall.” So, should 18-year-olds prepare to dodge the draft? How will this effect the college football season? Will journalists be able to cover this potential civil war wholly unbiased? Only time will tell. [rzn] hahaha this guy is hilarious!

In the meantime, The Wall Street Journal breaks down Panarin’s theory on America’s apocalyptic, um, breakdown:

California will form the nucleus of what he calls "The Californian Republic," and will be part of China or under Chinese influence. Texas will be the heart of "The Texas Republic," a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of an "Atlantic America" that may join the European Union. Canada will grab a group of Northern states Prof. Panarin calls "The Central North American Republic." Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia.

A French political scientist predicted the collapse of the Soviet Union 15 years before it happened. With the recession and the ever-present immigration argument, let’s hope this Panarin guy is wrong.

Source: http://www.vanityfair.com/online/politics/2008/12/american-civil-war-in-2010-russian-academic-says.html

The fact of the matter is that our current educational system is not sufficient enough to battle illiteracy. Despite the billions of bond dollars invested into new construction, renovation, & charter schools over the years, the problem persists & the need remains apparent. There are still adults that cannot read past the 4th grade level, and some that cannot even put the letters of the alphabet in the right order. They endure this every single day of their lives. They pick up the same groceries every week, never learn about credit, and create endless excuses to tell their grandchildren when asked why they haven't written like they had promised to. These adults will never be able to excel academically or professionally. They must settle for the same pay at the same job because they cannot even afford the education to achieve the requirements needed to advance. The only vocabulary they seem to have is the words that they've heard. They have the ability, they have the skills --- but they have never learned to apply or connect one to the other.

How could we have ever let these Americans go through life unequipped? How could we have ever overlooked their inabilities? How could we have ever pushed them into the next grade level & let their situation worsen? America, the land of equal opportunity, the world's envy --- how could we?

Unfortunately, that is only half of the story behind the bleak reality of today. The worst part has yet to mature --- but that is only because they have not aged into adults. But they will…

So, the question is: will we continue to let illiteracy compound into our future? Will we allow the public debt factor in the miracle of compounding interest, secured upon losses for human capital? Will we destroy tomorrow's seeds for the sake of saving today's bounties?

Signs of economy's demise are fading a little

Kathleen Pender - Sunday, March 29, 2009

It's hard to find signs of life in the economy, but the signs of death seem to be growing fainter.

In what passes for good news these days, Treasury Secretary Timothy Geithner told CNBC last week, "You're seeing the pace of deterioration start to slow in some areas."

Investors who share an inkling that the worst could soon be over have started a revival in the stock market. Since its March 9 low, the Standard & Poor's 500 index is up 20.6 percent, although it is still 48 percent below its all-time high in October 2007.

Generally, a 20 percent increase qualifies as a bull market. Whether this year's March madness marks the beginning of a new bull market, or a temporary rally in an ongoing bear market, is an important question not just for investors, but for everyone.

Why? Because the stock market is a fairly reliable leading indicator of the economy.

Over the past 60 years, recessions typically ended four or five months after a new bull market began, according to Sam Stovall, S&P's chief investment strategist for equity research.

During this period, the S&P 500 correctly anticipated the end of a recession 9 out of 10 times, he adds. The exception was in 2000 to 2002, when the economy recovered before the stock market.

If stocks really did hit bottom on March 9 - and that's a big if - history would suggest that the recession could end in the third quarter of this year.

Employment, considered a lagging indicator, wouldn't pick up until months after that. In Stovall's study, the unemployment rate didn't start falling until about four months after a recession ended, and eight or nine months after a bull market began.

S&P economists say the current recession will end late in the third quarter of this year. That's when things "will stop falling. It doesn't mean things will be getting better," Stovall says.

He predicts that the U.S. unemployment rate, 8.1 percent in February, will peak at 9.75 percent in the second quarter of 2010 and decline very gradually in the second half.

If the stock market has not really embarked on a new bull market, then a recovery in the economy and employment would come even later.

Brief outbreaks of optimism are common during long bear markets. Between Nov. 20 and Jan. 6, the S&P 500 surged 24 percent, only to plunge back to a new low on March 9.

5 bear rallies in 1930s

During the early 1930s, the Dow Jones industrial average staged five bear market rallies of 20 percent or greater before hitting an ultimate bottom in 1932. The most famous was a 48 percent gain in 1930.

Tom McManus, chief investment officer with Wachovia Securities, says the market will give up at least half of its March gains.

"We are in a bottoming process, where the market is winnowing out the winners from the losers," he says. "March 9 was probably a bottom for the quality stocks. It's probably not a bottom for the lower-quality stocks."

He says there's a 40 percent chance the overall market could fall below its March 9 low.

Durables are volatile

McManus doesn't put much faith in the signs of stabilization that some analysts see, such as better-than-expected reports on durable goods, home sales and retail sales.

Durable goods is so volatile, he says, "I would never use it as a signal the trend has changed."

Some analysts cheered when the government reported that retail sales in February were down only 0.1 percent (economists were expecting a 0.5 percent drop) and revised January's surprise increase upward to 1.8 percent from its original estimate of 1 percent.

When you look at the drop in retail sales over the previous three to four months, "the size of the improvement is microscopic," he says. "It's like saying your kid took a test and got 1 right out of 20. The next time he got 2 right out of 20. You could say, 'Wow, he did twice as well.' But it was still horrible."

McManus says the S&P 500 might "bounce around 700-900 for another six months." It closed Friday at 816. Its low on March 9 was 677. He says the economy will start to recover at the end of 2009 or early next year.

He warns that investors should not try to pick the exact bottom. Instead, they should put money into the market gradually over the next six months. Five years from now, that will look like a very smart investment.

Patience can pay off

"The valuations are very attractive. Someone who is patient can make money. Focus on improving the quality of your portfolio," he says. That means dumping stocks that have gone down the most and putting money into high-quality companies that have been hurt less.

Rob Arnott, chairman of Research Affiliates, is gloomier on the economy.

"I don't see how the economy can turn around while we are engaged in this massive de-leveraging," he says. "Resources are being siphoned to pay down debt, both household and corporate debt. This process is going to take time, a lot of time. It's dangerous to assume the economy can suddenly pick up when the de-leveraging process is only just now gaining full steam."

Growth seen in 2010

Arnott says the economy won't start growing until 2010 and employment won't pick up until 2011. "I think unemployment will crest above 10 percent, perhaps significantly above. This will be ugly," he says.

For now, Arnott says investors should put money into corporate bonds, not stocks, on the theory that the stock market can't really recover until the credit markets do.

He says that corporate bonds did not show the same improvement in March that stocks did. Until they do, "I don't think this is a real bull market," he says.

Net Worth runs Tuesdays, Thursdays and Sundays.

This article appeared on page D - 1 of the San Francisco Chronicle

Here's how to end the drug wars that put everyone at risk

Monday, March 30th 2009, 4:00 AM - crouch.stanley@gmail.com

 

[rzn] now, be honest --- that headline just made you go, "really??? it's that easy to put an end to the cartels, huh? wow," right!?! oh c'mon, i can't be the only one to get that curious!!! (or, can i? haha oh well!)

Blood sacrifice often precedes significant legislative change. [rzn] wow. well, damn! it's about time someone grew some balls & said it!! We saw blood sacrifice during the Prohibition years when prudish zealots thought that outlawing the sale of liquor would bring an end to drinking and the worst excesses connected to taking a nip or as many as needed to release the demons within. Organized crime killed until the bootleg liquor turf was slippery with fresh blood. [rzn] dang Stan the Man, you really are the man!!! love the way you write!

 

Now, the recent turmoil in Mexico is real proof that we have big trouble on our hands.

The rooms and the places where people are murdered over the sale of drugs continue to underline the fact that billions of dollars in profit create a level of greed so addictive that its coldness is incalculable.

We have seen all of this before in quite bloody detail. Hundreds were murdered, from high government officials to people caught in crossfire when Pablo Escobar ordered entire city blocks blown up in order to defend his monstrous cocaine profits by declaring war on Colombia.

Knowing that, we should now seriously consider the very simplest way to break the back of the international drug trade. It needs to be broken in the same way the back of the bootlegging business was broken.

Need I say what it is? Fine. The only real solution is legalization, which would put a permanent hole in the bucket of illegal dope dealing.

 

Mexico is now teetering on the verge of similar chaos because the drug dealers, like rappers, have absolutely no other way to become wealthy. [rzn] hahaha what a freakin' sav this author is!!! hahah i freakin' am love, love, lovin' it! it's so... refreshing. Their greed is matched by their ruthlessness and they will not be discouraged until the game is destroyed. If murder, torture, loss of family members and doing prison time have not run them out of the business, they will continue to do what they do and kill anyone who gets in their way.

That obviously is the way that it really is.

Of course, there is always some talk from imbeciles about the entrepreneurial skills of such criminals. [rzn] oh my wow! hahaha hell-to-the-no!!!! Stan the man straight CLOWNED 'em! haha niiice one, Mr. Crouch. Well, if they exist we will see how effective those supposed skills prove themselves if drugs are legalized. Then our international body of drug hustlers will have to compete against the big pharmaceutical companies that would immediately step in, take over the trade, lower the prices and pay billions of dollars in taxes. [rzn] here, here--i second that!

Though I have made this argument a number of times in the past, the wolf has never been so close to the door as Mexico is now. The dealers are trying to meet the massive American appetite for chemical fun in a time when the market is driven not by addicts, but what the experts call "social users." [rzn] ha! well, i suppose it's safe to assume that those "experts" have never been addicts. Their presence is a fact of contemporary life and they neither rob nor steal for the money they use to fuel the trade. Many of them, in fact, are middle-class people.

In a time when our economy can use all of the tax money it can get, we need to look at what legalization would do for us. The tax money would surpass the billions already spent on a drug war we never come close to winning.

Not only would legalization bring in enormous tax money, the trade itself would be much better organized and more efficient all around. [rzn] i kinda have that gut feeling, too. but then again, you just never know how greedy, irrational, & irresponsible money-hungry people will be, esp. when the money bein' circulated just keeps losin' value on the daily. true, there'd be more money from the taxes, but would it be enough to revive not just America's but the world's deficit? because we are all, in fact, in the hole pretty deep. soooo... i don't know.

The tobacco companies have the machinery in place to mass produce marijuana cigarettes on a sliding scale from light to very strong, and the big pharmaceutical companies could handle all of the rest of the drugs just as the liquor companies make everything from light beer to whatever proof liquor is safe and legal. [rzn] this is off topic, but it just struck me --- kinda ironic how there's a regulation on the "safe and legal" alcohol proof, and yet, there's nothing in the law that requires you to stop a friend (or stranger) from consuming too much liquor. i mean, sure, you can charge 'em with negligence. but isn't the purpose of having rules & regulations to keep the peace and well-being of the people??? hmmm... ANYWAY! well, i guess i'm just gonna have to save that thought for another day.

I see no other way out of this mess and no way to stop people from willingly spending billions of dollars to entertain themselves. But I have long believed that once the idea is seriously considered, the tobacco and pharmaceutical companies will create a lobbying effort that just might rival the NRA. [rzn] yup, definitely agree with that.

The idea of profit makes almost anything possible. We all know that one. [rzn] yessir, ain't that the truth!!!

ahhhhhhhhhh… well, well, well. i must say that was a really great read for me. well-written, well-thought-out, and (best of all) it wasn’t anything like the dry, boring articles i’ve been reading lately. it was far from being pretentious. in fact, it was bold and bare naked, every sentence bearing a truth you just couldn’t deny.
seriously though. i mean, i know it may seem like i’m making too much of a deal about it, but who cares? credit should be given wherever it is deserved. know what i mean? yeah, and i guess the writer in me is also a big part of the praise. but hey, i just gotta give it up to Stan the Man (aka Mr. Crouch):
Stanley Crouch — if you should ever follow the trackback i’ve linked to your article, or if not, then maybe one day you’ll Google your name & find this search result (who knows?) … well, regardless of how, i just hope you find yourself smiling at the end of this post, just as i found myself do the same as i finished your article.
ya, ya. kinda cheezy, i know. but for real—i hope you never put that pen down.

Sunday, March 29, 2009

MARKET: process by which people buy & sell securities

Regulation is extremely important to the way markets function in the securities industry

*** REMEMBER: IT IS A DUAL SYSTEM OF REGULATION ***

• Both states & the federal govt. regulate market activity


• State regulations = aka Blue Sky Laws

On the Series 7, more focus is given to federal regulation

All federal regulations start with Congress

• Once they are passed, there are several agencies that come into play to enforce these laws on a day-to-day basis:




1. IRS: Taxes


2. FRB: Credit (margin accounts)


3. SEC: Main enforcer of securities laws




1. Whom are they dealing with?




1. Issuers: corporations that are selling stocks & bonds to the public


2. Investors: activities of those buying & selling securities in the market thru, for example, insider trading rules


3. Brokerage Firms & Registered Representatives




2. Problem: SEC doesn't have enough man power to enforce regulations




1. SEC has setup an agreement with brokerage industry to create Self-Regulatory Organizations (SROs)




1. NYSE: New York Stock Exchange


2. NASD: National Association of Securities Dealers




• Regulates the over-the-counter (OTC) market




3. MSRB: Municipal Securities Rulemaking Board


4. CBOE: Chicago Board Options Exchange

REGULATION: ISSUING SECURITIES (How do securities get into the market in the first place?)

Securities are used by corporations to:

1. Raise capital




• Corporations then use this capital for a wide variety of reasons:




1. Build/construct a plant, factory, etc.


2. Purchase new equipment


3. Research & Development (R&D)


4. Take over or merge with another company


5. Internal financial restructuring to improve the status of its balance sheet




• Corporations may acquire capital in different ways:




1. Go to a bank & get a business loan




• Many of these loans are short-term, & many corporations need capital to invest over a long-term period




• Therefore, corporations would obtain capital by selling new securities to the public

ISSUER SELLS SECURITIES TO PUBLIC

Public provides capital needed  by issuer

• In exchange, public receives security in hopes to earn an investment return over a long period of time




• Federal, state, & local govt.s use this method of obtaining securities as well

Before 1933, there was no specific regulation of this process

• This created certain problems for investors




• Investors would buy securities that were riskier than originally led to believe


• They didn't have enough info to know that there was a problem

Congress decided to protect investors by passing the Securities Act of 1933

• Philosophy of Securities Act of 1933 = FULL DISCLOSURE




• Issuer is required to provide to the investor all relevant information about the security


• Before issuer can sell securities to the public, it must file a Registration Statement with the SEC




• Registration Statement contains all relevant info that a reasonable investor might want to know about the certain security


• From the info provided, the investor can make an intelligent decision about whether to invest in the security or not

Although an issuer can sell to the public itself (after registering with the SEC), instead most corporations hire brokerage firms to facilitate the sale of securities

• Most don't have the time or expertise to sell securities to the public; most concentrate & use their manpower on growing the business


• Brokerage Firms act as an Underwriter (aka middle man) in the transaction




1. FIRM COMMITMENT UNDERWRITING

Traditionally, brokerage buys entire issue of securities from the issuing firm, paying the issuer a set amount, & then resells them to the public

1. Difference between the sale price to the public & the purchase price from the issuer = the profit to the brokerage firm (aka broker-dealer)


2. This does involve some risk




• There is a chance that when the broker-dealer tries to turn around & sell securities to the public, the public may not want to pay the amount that will earn a profit for the syndicate (underwriter)


• The broker-dealer may lose money in that case

3. Broker-dealer may not want to do Firm Commitment Underwriting because:




1. Company is a new start-up


2. Company has no track record


3. Not sure if public will be receptive to the issue or not


4. Company may already be in financial trouble


5. It would be harder to sell securities

• Registered Options Principal
  
  
• General Securities Sales Supervisor for Options and Municipal Securities
  
  
• Municipal Securities Principal
  
  
• Municipal Fund Securities Principal
  
  
• Financial and Operations Principal
  
  
• Introducing Broker/Dealer Financial and Operations Principal

Limited Registered Representative - (Series 17) - 100 multiple choice questions; 2 hours testing time.

Canada Module of the Series 7 - (Series 37 contains options questions) - 90 multiple choice questions; 2 hours and 30 minutes testing time.

Canada Module of the Series 7 - (Series 38 has no options questions) - 45 multiple choice questions; 1 hour and 15 minutes testing time.
 

The following individuals shall be are qualified to be registered as General Securities Representatives:
 

Any person who was registered as a Representative prior to September 1, 1974.

Any person who applied for registration as a Representative prior to September 1, 1974 and became registered as a Representative prior to April 1, 1975 by passing the Series 1 (Qualification Exam for Representatives).

A person who was registered as a Registered Representative after September 1, 1974, by passing the Series 7 (General Securities Representative Examination).

Note: A person who applied for registration as a Representative on or after September 1, 1974, or who was registered as a Representative on or after April 1, 1975 by passing the Series 1 ( Qualification Examination for Representatives),  was qualified to be registered only as a Series 6 - (Investment Company and Variable Contracts Products and as a (Series 22) - Direct Participation Programs Representative.
 
Assistant Representative - Order Processing - (Series 11) - 50 multiple choice questions; 60 minutes testing time. This examination is designed for persons associated with a member who accept unsolicited customer orders for submission for execution by a member. They cannot accept orders for municipal securities or direct participation programs.

Direct Participation Programs Limited Representative - (Series 22) - 100 multiple choice questions; 2 hours and 15 minutes testing time. See the description of the products covered by this registration under the Series 39 description.
 
Registered Options Representative - (Series 42) - 50 multiple choice questions; 1 hour and 30 minutes testing time. Questions on handling option accounts, equity, debt, foreign currency, and index options are on each test. This registration requires a concurrent registration as a Corporate Securities Limited Representative (Series 62). The Series 62 co-requisite is necessary to demonstrate functional understanding of the securities products underlying the option contract.
 
Municipal Securities Representative - (Series 52) - 100 multiple choice questions; 3 hours testing time. In addition to municipal securities, municipal fund securities (e.g., 529 College Savings Plans, Local Government Investment Pools (LGIPs)) and municipal markets, this examination covers U.S. government, federal agency, and other financial instruments, economic activity, government policy, the behavior of interest rates, and applicable federal securities laws and regulations.
 
Equity Trader Limited Representative - (Series 55) - 100 multiple choice questions; 3 hours testing time. Registered representatives in this category may trade equity and convertible debt securities on a principal or agency basis. The Series 7 (including the foreign modules) or the Series 62 is the prerequisite to the Series 55.
 
Corporate Securities Limited Representative - (Series 62) - 115 multiple choice questions; 2 hours and 30 minutes testing time. This examination qualifies an individual as a representative for the sale of public offerings and/or private placements of corporate stocks, corporate bonds, rights, warrants, real estate investment trusts, collateralized mortgage obligations, and securities of closed-end companies registered pursuant to the Investment Company Act of 1940, repos and certificates of accrual on corporate securities; securities traders; mergers and acquisitions; venture capital; corporate financing; ETFs, and hedge funds.
 
Government Securities Limited Representative - (Series 72) - 100 multiple choice questions; 3 hours testing time. Registered representatives in this limited category of registration are permitted to transact a member's business in Treasury securities, government agency securities, and mortgage-backed securities.
 
Limited Representative-Private Securities Offerings Representative - (Series 82) - 100 multiple choice questions; 2 hours and 30 minutes testing time. This examination qualifies an individual for the sale of private placement securities as part of a primary offering.
 
Research Analyst - (Series 86 and 87) - There are 100 multiple choice questions on the Series 86 and the testing time is 4 hours, which test fundamental analysis and valuation of equity securities.  The testing time for the Series 87 is 1 hour and 30 minutes with 50 questions that cover FINRA and New York Stock Exchange rules, the Securities Act of 1933 and the Securities Exchange Act of 1934. This exam is appropriate for individuals who produce written or electronic communications that analyze equity securities or individual companies/industry sectors, and provide reasonably sufficient information upon which to base investment decisions.
 

They say it's mind over matter

'Cause our minds make the matter,

So what I think is all that should ever matter to me.

And baby, if you should ever wonder,

Yes, you will always matter to me.