Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Pogeu Mahone who wrote (148371)	5/8/2019 2:33:55 PM
From: TobagoJack	1 Recommendation Recommended By dvdw© Respond to of 217927

that is a problem, that sometimes yes, and other times no I find zerohedge as helpful as any other media, for triangulation for news, ZH is simply an aggregator for editorial, it is at times as idiotic as any other editorial, for cannot be helped as the world is full of idiots ZH so good as a reminder on issues we ourselves have as open issues, for us to continue taking triangulation as an example, something on ZH acted as reminder, and at some juncture I shall continue to followup on this issue below, to see how it all turned out - whether GM suffers a continuing bleed in order to avoid political attacks, or GM somehow manages to shut down the plant(s) by proxy the future is made up of many such instances, the outcomes we may have an interest reuters.com Under pressure from Trump to save jobs, GM acts in Canada, Ohio WASHINGTON/TORONTO (Reuters) - Under political pressure not to cut jobs, General Motors Co announced on Wednesday it was in talks to sell its Lordstown, Ohio, plant to an electric truck-building company and also said it would maintain some operations at a Canadian factory. UNIFOR president Jerry Dias leaves after announcing new plans for the Oshawa automobile manufacturing facility, at a news conference in Toronto, Ontario, Canada May 8, 2019. REUTERS/Chris Helgren The decisions came after GM faced months of criticism over its plan announced in November to close five North American plants and cut 15,000 jobs. GM’s decision to close the small-car Ohio assembly plant in a key state in the 2020 election had already become fodder for several Democratic presidential candidates. U.S. President Donald Trump, who disclosed GM’s plans on its Ohio plant in a tweet, said the deal will require the approval of the United Auto Workers union. GM said it will invest $700 million in three other Ohio facilities and add 450 jobs at its Toledo, Parma and Moraine operations. “Great news for Ohio,” Trump tweeted. GM said it was in discussions to sell the plant to Workhorse Group Inc and an affiliated newly formed entity. GM Chief Executive Mary Barra said Workhorse “could help preserve Lordstown’s more than 50-year tradition of vehicle assembly work.” The UAW said on Wednesday in a statement that GM should add a new product at Lordstown “and continue operating it.” Workhorse is a small electric truck and drone startup that has reported significant losses. The company said it had just $2.8 million in cash on hand at the end of March and reported a net loss of $6.2 million on net sales of $364,000. Trump spoke to Barra earlier on Wednesday before the company announced plans to keep some operations in place in Canada. Trump in June 2017 advised workers in nearby Youngstown, Ohio, that factory jobs were not leaving. “Don’t move, don’t sell your house,” he said. It is not clear how many people Workhorse may employ, whether they would make as much as the UAW workers at Lordstown or if GM will have a continuing business relationship with Workhorse. It is likely it would take at least a year or two before the plant, which halted production in March, could reopen, the sources said. Workhorse shares jumped nearly 70 percent on Trump’s tweet and were briefly halted. At midday on Wednesday the shares were up 43.6 percent at $1.21. Separately, GM and the largest union representing Canada’s auto workers have reached a deal to partly rescue an Ontario car-making plant slated to close this year by turning it into a parts-making facility, the automaker said in a statement. The transformation of GM’s Oshawa site, which would also be used to conduct advanced vehicle testing, would save 300 jobs and have “the potential to grow and generate significant additional jobs in the coming years, as the business attracts new customers,” the U.S. automaker said in a statement. Canadian union Unifor, which had fiercely opposed the shutting of the plant’s doors, had previously said the closure was contrary to a contract that stipulates there would be no plant closure. “There are 300 families that are better off than they would have been in December,” said Unifor President Jerry Dias in Toronto. Flavio Volpe, president of the Automotive Parts Manufacturers’ Association, said, “GM’s decision to keep their Oshawa facility operating is unexpected and allows for the emerging automotive technology ecosystem they are building locally to perhaps lift that region again one day.” Reporting by David Shepardson in Washington, Tyler Choi in Toronto and Allison Lampert in Montreal Additional reporting by Ben Klayman in Detroit; Editing by Matthew Lewis

To: Pogeu Mahone who wrote (148371)	5/8/2019 2:46:05 PM
From: TobagoJack	Read Replies (2) \| Respond to of 217927

another example, that which I expect to eventually lead to a bank being zero-ed such news would escape me but for ZH diligence in aggregation another city bites the dust wonder what happens as events gather into a trend, and / or migrates to banking no, I do not believe banks are immune from being temporarily but materially 'zero-ed' zerohedge.com Chaos In Baltimore: City Government Paralyzed By Cryptocurrency Ransomware Attack One week after troubled ex-Baltimore Mayor Catherine Pugh resigned after a criminal probe over her children's book series, the entire Baltimore City computer network system was shut down after a ransomware attack, The Baltimore Sun reports. Across the city, multiple intergovernmental agencies sent employees home Tuesday after email servers and communications platforms went dark. And according to a press meeting on Wednesday morning, the city’s communication system remains down. Lester Davis, a spokesman for Mayor Bernard C. "Jack" Young, said the 911 emergency system was not affected but provided details about how the ransomware paralyzed important communication servers. City officials had isolated the ransomware to computers associated with severs tied to the city's communication network, Davis said by late Tuesday afternoon, but how the infection penetrated the city's firewalls and the scale of the problem still remains unknown, he said. Davis also had no timeline about when the affected systems would be back online. Dave Fitz, a spokesman for the FBI Baltimore Field Office, told The Baltimore Sun that special agents from its cyber squad were on site investigating the serious incident. Don Norris, a professor at the University of Maryland, Baltimore County, said the ransomware attack underlines how municipal governments struggle to protect their networks from hackers. "You’ve got increasingly sophisticated and very persistent bad guys out there looking for any vulnerability they can find and local governments, including Baltimore, who either don’t have the money or don’t spend it to properly protect their assets," said Norris. Ransomware is a type of malware designed to block operators from using computer systems or specific data until a ransom is paid. The Baltimore Sun said the ransomware was identified as RobbinHood. The hackers demanded cryptocurrency as the preferred payment to unlock the files. Davis said the malware attack in Baltimore City was similar to one that disabled computer systems in Greenville, North Carolina, last month. City Councilman Ryan Dorsey said City Hall employees were instructed on Tuesday afternoon to disconnect all devices from the network. "Everybody has been instructed to unplug the Ethernet cable and turn off power to their computers, printers and such," Dorsey said. "It’s apparently spreading computer to computer." Hackers wrote in a note that 3 Bitcoins (equivalent to about $17,667 at current prices) will unlock each system, or approximately 13 Bitcoins (worth $76,557) to unlock the city's entire communication system. Apparently that amount is too much for Baltimore to afford. The note also told city officials that if they contacted law enforcement that all communication would be cut off. It also emphasized that anti-virus software would damage the computers. The ransomware’s procedures are completely automated. “We won’t talk more, all we know is MONEY!” the note said. “Hurry up! Tik Tak, Tik Tak, Tik Tak!”

To: Pogeu Mahone who wrote (148371)	5/8/2019 3:08:02 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217927

one more let us see if the coincidences continue like canola in Canada and coal in Australia, and tourists in New Zealand I never worry whenever team China enunciates a position, for China, such enunciations are simply transparent money-good statements of intent, and I cannot think of any instances of bluff, including sending a rifle-equipped peasant army into a modern war that was Korea 1950, fighting a UN sanctioned force to stand-still inspire of implicit nuclear threats against team china I pay particular attention to coincidences especially when team china is absolutely silent w/r to ... if the news bits are true, and that is an if, then we might want to follow the development zerohedge.com China Boycotts Shockingly Ugly, Tailing 10Y Auction: Indirects Plunge, Lowest Bid/Cover In 10 Years There is just one word to describe today's just concluded sale of $27 billion in 10Y notes: disastrous. Sparking immediate speculation if China simply decided not to show up for today's budget deficit funding operations, the 10Y auction was ugly from top to bottom. The high yield of 2.479% tailed the When Issued 2.465% by a whopping 1.4bps, the biggest tail since August 2016. The tail was so big that whereas the auction was initially expected to price at the lowest yield since December 2018, as the WI was below last month's 2.476%, the disappointing reception meant that the yield actually rose compared to last month. But if the tail was bad, the internals were far worse, starting with the Bid to Cover, which plunged from 2.55 to 2.17. There is no point in comparing this to the recent average, because this was the lowest BTC going all the way back to March 209, or a decade earlier. As for the reason for speculation if China bailed, one look at the Indirects, or foreign official authorities were China traditionally dominates, showed it tumbling from 68.4% to 53.3%, the lowest since November 2016. And with Directs doing their best to offset the collapse in Indirects, and taking down 11.5%, or in line with last month, Dealers were forced to hold 35.2%, almost double April's 19.6%, and the highest since April 2018. Overall, a very ugly auction, and if China wanted to send a message to the US, it clearly succeeded judging by the violent repricing in the 10Y whose immediately yield promptly blew out by over 2 bps.