Monthly Archive for January, 2011

Exxon Reports Huge Profits

By: Max Turnier, January 31, 2011 in Finance and News. 0 Comments Tags: , , , , , .

Exxon reports big 4th quarter

Quarterly statements for Exxon Mobil Corporation show a profit increase of 53 percent. Market analysts cite an improving economy and increased demand for anything and everything petroleum. By the end of 4th quarter 2010, the oil giant reported net profits of $9.25 billion compared to $6.05 billion for the same quarter a year prior.

This news had Exxon shares up 1.4 percent prior to the opening bell.

Chevron Corporation also reported dramatic increases in profit late last week, up 72 percent to roughly $5.2 billion.  

Political unrest and massive protests in Egypt have taken a more immediate toll on petroleum markets worldwide. Trading in the Egyptian stock market is frozen today after a 17 percent drop at the end of last week. While that may have some to do with fluctuating petroleum prices, broader effects are born out of the fact the Egypt is home to the Suez Canal, a major shipping route for oil and other products.

FCIC Says Economic Crisis Was Avoidable

By: Max Turnier, January 27, 2011 in Finance, News and Politics. 0 Comments Tags: , , , , .

FCIC says crisis was "avoidable."

First, lets remember some of the big corporate names which now bear iconicity with the economic collapse during 2007 and 2008. In no particular order: American International Group (AIG), Countrywide Financial, Lehman Brothers, Bear Sterns, Federal Home Loan Mortgage Corporation (Freddie Mac), etc.

According to the Financial Crisis Inquiry Commission (FCIC) report, the causes of the economic meltdown were a direct result of “human action and inaction.” The report goes further to say the crisis was avoidable, and in the years leading up to the crash so-called “captains of finance” had every opportunity to make preventative adjustments. This is no big surprise but it’s nice to have it on record.

One thing the report does not say directly, and at best merely suggests,  is that private sector financial leaders perhaps made decisions with intent or malice. An article from Market-Ticker.org sums up the report’s lack of teeth.

I find it incredibly offensive that financial kingpins dare hide behind a veil of legal negligence in such a perverted and seemingly blatant criminal economic ruse. It seems more likely that they were intimately involved in years of decision making and they knew very well what they were doing, but hey, I could be wrong.

More offensive, however,  is the government’s apparent inability to shoot to the core of the issue. To date, there have been many individual investigations but very few actual convictions. The reality is that the causes of the economic crisis are so complex, we may never see more than a few individual convictions. If or when we do, it could be many years and hundreds of court dates from now.

Having an official report on causes of the crisis should be reassuring but I’m afraid that couldn’t be farther from the truth.

Massive Toyota Recall

By: Max Turnier, January 26, 2011 in Autos and News. 0 Comments Tags: , , .

Toyota announces Lexus recall

Toyota announced it will voluntarily recall roughly 250,000 Lexus cars sold in the U.S. because of an issue with fuel sensors. Models in the IS and GS lines are affected. In simple terms, it has been discovered that the fuel sensors may not have been tightened enough in the manufacturing process which, over time, may lead to fuel leakage. No accidents have been reported as a result of this.

Fuel delivery pipes are said to be the issue in a separate Toyota recall that affects 1.2 million cars outside of the U.S.

Just in the last few years, Toyota has recalled at least 10 million cars and trucks worldwide.

Orange County Choppers Foreclosure

By: Max Turnier, January 25, 2011 in Celebrities and Television. 0 Comments Tags: , , , , , .
Cast of TV show "American Chopper"

Cast of TV show "American Chopper"

If you know anything about the hit TV series “American Chopper“, then you know the steamed temper of Paul Teutul, Sr. and the colorful means by which he verbally commands the world. Maybe that’s how he reacted when he got his foreclosure papers. I can see him now, perhaps uttering an endless stream of expletives followed by throwing a large piece of furniture like it was made out of Nerf.

Orange County Choppers (OCC) has two loans totalling about $12.5 million for their new facility in Newburgh, NY.

According to a few different sources, lender GE Commercial Finance filed a foreclosure action against the custom bike builder for defaulting on two separate payments in July 2010. Allegedly, they missed payments for $96,400 and $14,000.

Attorney Richard Mahon who represents OCC said this was a tactical maneuver to pressure the lender into adjusting the terms of their mortgages. Mahon said when the new facility was built in 2007, it was worth about $12 million. Now, it is worth somewhere between $7 million and $8 million.

Intentional default is a common move, especially in recent years because of the economic downturn. An owner who is “underwater”, or owes more than the property is worth, is compelled to and often times does walk away from the mortgage entirely.

According to Mahon, the owners of OCC still have “considerable” assets and there is no reason to speculate that the company would close its doors.

While legal documents get thrown back and forth, it seems the Teutuls still have every intention of making good TV. The show began in 2002 and so far, they’ve shot 176 episodes of “American Chopper.”

Green Bay Headed to Super Bowl XLV

By: Max Turnier, January 23, 2011 in Sports. 0 Comments Tags: , , .

Aaron Rodgers, QB for the Green Bay Packers

It was a turbulent NFC Championship game for the Chicago Bears. Jay Cutler went out in the second half with a knee injury. Backup Todd Collins replaced Cutler who proceeded to throw four incomplete passes. Collins was then replaced by Caleb Hanie late in the 3rd quarter. He was able to lead a touchdown drive in the 4th, bringing the score to 14-7. The late score for the Bears bolstered some hope but it was not enough.  

B.J Raji with the Green Bay Packers intercepted a Hanie pass and returned it for a TD in the 4th, bringing the score to 21-7. By the way, Raji is a 340-or-so pound nose tackle. A few minutes later, Hanie answered back with a 35-yard TD pass to Earl Bennett, score 21-14.

Packers’ Sam Shields had the last word against the Bears offense, picking off Hanie with 37 seconds left in the game. All the Packers had to do was take a knee to secure a position in Super Bowl XLV, and that’s exactly what they did.

Call Of Duty: Modern Warfare 3 to Be Released November 2011

By: Max Turnier, January 21, 2011 in News, Technology and Video Games. 24 Comments Tags: , , , , .

Screen shot from "Call of Duty 4: Modern Warfare"

Few things excite the masses like an announcement of a new video game.

According to a report in the LA Times, a third installment in the Modern Warfare series is set to be released in November 2011. Sources are unnamed but they are cited as being people who are “in the know.”

The LA Times article says that Infinity Ward, the creator of the Call of Duty series, has teamed with developer Sledgehammer Games to help finish Modern Warfare 3 by the end of this year. Infinity Ward and Sledgehammer, with the direction of Activision, are believed to be collaborating on the single-player platform. Raven Software is believed to be working on multi-player platforms.

The relationship between Activision and Infinity Ward has been a turbulent one, to put it simply. A round of firings at Infinity Ward last March caused concern in the gaming community that they may not be able keep up with annual release schedules. However, they have proven otherwise with the release of  Call of Duty: Black Ops, which was the best selling game of 2010, though many in the gaming community consider it a disappointment. I personally think 2009′s Call of Duty: Modern Warfare 2 outshines Black Ops with fundamentally better game play.

Looking forward, Sledgehammer seems to be a savvy group of FPS (first-person shooter) developers. Combined with the dedication of Infinity Ward, I predict they will make the November deadline complete with incessant ad campaigns and a lot of buzz about Modern Warfare 3.

FBI: Biggest Mob Crackdown in New York History

By: Max Turnier, January 20, 2011 in Uncategorized. 0 Comments Tags: , , , .

F.B.I. agents arrest more than 100 in mob crackdown.

According the Federal Bureau of Investigation, more than 100 arrests have been made in what is being called the biggest mob round-up in New York history. Charges range from gambling, racketeering to murder.

Investigators say that members from all five of the major crime families in New York have been picked up, including some from the DeCavalcante family in New Jersey. It is widely speculated that the DeCavalcante family loosely inspired the hit TV series “The Sopranos.”

The big five families: Genovese, Gambino, Lucchese, Colombo and Bonanno, are still active in the criminal underworld. According to officials with the FBI,  labor union corruption, gambling and loansharking remain as staple modes of operation in organized crime.

According to the NBC  TV affiliate in New York, NY, many of the suspects are being processed in Brooklyn. U.S. Attorney General Eric Holder’s office is expected to release more information later this morning.

Coachella 2011 Lineup

By: Max Turnier, January 19, 2011 in Art and Music. 0 Comments Tags: , , , .
Coachella

Coachella during a Jack Johnson set, 2008.

Organizers have released the music lineup for the 2011 Coachella music festival, which is held every year in Indio, California.

Coachella opens up the gates on April 15th and starts off with some of the biggest names in indie rock, techno and hip-hop. Two of the bigger names include The Chemical Brothers and Cee Lo Green. Two bands/artists I would personally like to see live who are set to play the first day are Irish rock group Flogging Molly and beatboxer Beardyman. The day is rounded out with headliners Kings of Leon. They’re the ones who left a St. Louis performance early in 2010 because of an alleged onslaught of pigeon poop on-stage.

Day two brings names like The New Pornographers with vocalist Neko Case and lead man AC Newman, techno DJ Paul van Dyk and Bright Eyes. The headliner is Arcade Fire.

Day three will not disappoint. I’ll just do a small list here: Duran Duran, Ratatat, Nas & Damian Marley, Jimmy Eat World. The grand finale will encompass the works of Kanye West and The Strokes.

Coachella is one of a small group of big music festivals across the country. Others include Bonnaroo, Lollapalooza and the Vans Warped Tour. Last year, Coachella had an estimated attendance of 75,000 people per day. That’s a big party. I smell a road trip.

Regis Philbin Announces He Will Retire

By: Max Turnier, January 18, 2011 in Celebrities, News and Television. 1 Comment Tags: , , , .

Regis Philbin announces retirement.

When a respected broadcast veteran decides to throw in the towel, it’s definitely worth talking about.

Regis Philbin announced Tuesday at the top of his show, “Live With Regis and Kelly,” that he would be retiring sometime near the end of summer, 2011.

The 79-year-old TV personality has been at the helm of his show for almost thirty years. That in itself speaks volumes when you look at other networks and their seemingly constant changes in talent line-up. Even when Kathie Lee Gifford left and Kelly Ripa stepped in, the show did not disappoint and has maintained a relatively good track record in ratings.

Philbin did not specify the date on which he would leave the building for the last time.

Aside from “Live With Regis and Kelly,” he has hosted a handful of other shows  including, “Who Wants to Be a Millionaire” and “America’s Got Talent.” Philbin has also made a few movie appearances as well. Visit Regis Philbin at Juggle.com to learn more.

Debate.org Now Part of Juggle Portfolio

By: Max Turnier, January 17, 2011 in Internet, Juggle.com and News. 0 Comments Tags: , .

Juggle.com acquires Debate.org

We are proud to announce that in the ongoing effort to further our goal of being a leader in online publishing and high quality content development, Juggle.com has acquired the leading online debate website Debate.org.

Benzinga.com published this article on January 5th explaining the acquisition in detail.

Debate.org is known as the premier website for online debates. Members can enter structured debates on a variety of moderated topics, and anyone can go to the site to browse topics.

We are constantly refining the structure of Debate.org to better the user experience. We encourage you to stop by an see all it has to offer.