Federal Reserve and Long Term Capital Management rescue. Nice to see all going according to plan. Fed dilutes dollar holders. Dollar holders don't notice. Fed talking of reducing interest rates next week. All grist to the mill for people who own productive assets such as The Q instead of 'Alan G's Promise to Pay' which he keeps whittling away.
On Leap Wireless International, this is somewhat a re-run of NextWave Telecom which crashed in the C-block. I wonder whether the two will be merged to enable a USA wide cdma2000 network using the C-block licences in some deal with the Federal Communications Commission.
I imagine that Harvey White wasn't simply interested in providing the odd cdmaOne handset to a few Russian refugees, Mexican gangsters or Aussie kangaroo catchers. It would be in FCC, NextWave, Leap, Qualcomm and consumer interests for C-block to really get moving. The USA cdmaOne market is really motoring now. A good time to make a move. That will give Harvey a big sandpit to play in and some big moves to make.
I think I'll hang on to my Leap shares for a little while.
Meanwhile, the IPR whining from L M Ericsson continues. Apparently they believe that Qualcomm is wanting to make money from the patents. This is apparently an undesirable aspect of business. Qualcomm even wants to make money from ALL users of cdma systems in future and this is even worse. I'm quite looking forwards to the fight. I doubt it will come to that and L M Ericsson will take what they can get in the way of a licence from Qualcomm.
Bill Clinton isn't getting turfed out. He'll be feeling a bit belligerent too having been harrassed for so long. So any terrorists or IPR thieves had better watch out! He has got dirty great big long Tomahawks. Nelson Mandela made a really good speech - being careful to avoid interfering in USA internal politics, which had everyone roaring with laughter, encapsulating a very popular view around the world and within the USA to the tune of about 70% of the population.
Now the Republicans are looking for a way to slide out of an obviously dead issue. Did they really think they could impeach a President for a trivial offence? Everyone, including the President, offends thousands of laws. Nobody, including the judges, even knows what the laws are. Even a simple thing like taxes on Leap could bamboozle a judge and lawyers.
What is good about the Clinton investigation, from an international investor's point of view, is to see that in the USA, anyone can be dragged through the muck and they had better be reasonably clean or they'll find themselves in jail! That's great. This investigation of Clinton and cronies has served a good purpose in that regard. Long may seekers of public office fear exposure of their misdeeds. Money will continue to flood into the USA while they keep the bureaucrats in line and the SEC keep crooks in business down.
But save actual impeachment for high crimes, not lowly little crimes with no victim.
Mqurice |
