Posts Tagged ‘facebook’

Many Happy Returns Webby!

Posted: May 10, 2014 in bankers, Business, Computers, Current Events
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“Fight Against Stupidity And Bureaucracy”

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World-Wide-Web

The World Wide Web, created by Sir Tim Berners-Lee, turned 25 years old this year, 2014.

There has never been anything like it before, certainly not as regards the impact it has made on society and the way we live our lives. Many of those changes are good, many are not so good and a few are downright annoying.

Here’s my take on some of them.

To concentrate on the good parts first, the one thing the www has done, for those who can use it effectively, is to give access to information that was previously only available to the elite few who managed to claw their way into the lofty heights of academia, or who worked in places where information was readily available. Now the same information is accessible at the touch of a button to anyone and everyone with a smart phone, tablet or computer.

Another benefit, in my view anyway, is that is has sent a massive wake-up call to telephone providers world wide, many of whom were fast asleep, content to rake in healthy profits from antiquated systems. No longer do we have to settle for slow and temperamental data transfer lines. Nowadays, particularly in the last few years, people are demanding systems that can cope with download streams in the gigabyte range. If you are old enough to remember the first modems you will know you wasted too much of your life trying to download at 12Kb/sec., sometimes less.

Freedom is also a welcome by-product of the World Wide Web.

The freedom to work in any country in the world, from virtually any country in the world is one big plus – it is for me anyhow. Another one I particularly like is the freedom to watch TV programs that I like, when I like, no longer tied to the schedules of some brainless bean-counter working for a broadcasting company. And the freedom to have your say on things as and when the mood takes you – they call that blogging don’t you know! – is also a great advantage to the ordinary person.

www words

As is the freedom to disseminate information across the globe instantly, as Mr Snowden ably demonstrated, although I would hazard a guess that the powers that be would not agree with me on that one.

Indeed, this is the one aspect of the www that really bothers big brother.

China for example is one country where access is controlled by the state. Coincidentally this year also marks the anniversary of the Tiananmen Square massacre, you’ll find articles about that if you do a search, but probably not in China. They get away with it because they are not a democracy and do not pretend to be one.

In other countries, like the good old Land Of The (Not So) Free (Anymore)), the powers still like to con their people into believing that they are living in a democratic nation and that the people have the power to vote for this or that. But think for a moment, when was the last time you got to vote on whether to start a war, or whether to give $billions of your money to the greedy banksters to pay themselves huge bonuses and gamble away the rest?

It is because they need to keep the pretence of democracy going, that they do not yet have the confidence to start overtly censoring the internet. But they do all they can to snoop on what people are reading, or writing, or looking at.

This is where the freedom the www and associated technology provides can also be a negative, when it is used by governments to surveil us and record every piece of data they can. If they were doing this selectively and targeting terrorists and criminals no one would be too worried. But they are doing it to all of us, guilty and innocent alike.

big brother is watching

They are also doing everything they can think of to impose taxes on internet commerce – of course they have to coz they’re stoney broke.

The www has revolutionized business practices and created all sorts of new commerce opportunities, Amazon perhaps being the best example of a company that has gone from nothing to a multi-billion dollar business in just a few years.

Communication and social interaction are also areas where the www has liberated the ordinary person – first with email and more recently with social media. In the near future expect to see social media expanding to become much more than individual platforms such as Facebook or Twitter. We are already seeing many new applications that are allowing people to communicate more widely, more easily and more often.

social media

Another negative is that the World Wide Web has unwittingly facilitated the proliferation of pornography and violence, and is teaching a generation of morons all the wrong things. Things that will ensure they become a burden on society, not an asset.

And it has also opened a whole new environment in which criminals can operate. Millions of dollars are being stolen every day through scams, confidence tricks and outright theft.

You could say (and I frequently do) that people dumb enough to fall for these scams deserve all they get, or all they lose, is perhaps a better way of putting it. You know, the idiots who believe they really have won a lottery they didn’t buy a ticket for, or who think that Dr Umbungo Watanga from Nigeria is being truthful when he tells them that someone they never heard of has left them $25 million and all they need to do is send all their personal details and a few thousand dollars to unlock the fortune that awaits them. There really is one born every minute it seems!

All that said, and twenty-five years on, the www is still in its infancy. We have come a long way in the past 25 years, but we have really only scratched the surface as regards what the web has the potential to do to further improve our daily lives.

Where the vision to develop the www will come from in anyone’s guess. The only thing we know for sure is that the initiative won’t come from governments or their bureaucratic servants, simply because the people we elect to those positions do not have the required intelligence.

So its up to you. If you have any great ideas you want to share, send me an email.

Sir Tim Berners-Lee

Sir Tim Berners-Lee, the man who created the World Wide Web.

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“Fight Against Stupidity And Bureaucracy”

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It’s time for a Sunday Sermon!

cartoon-illustration-of-a-spy-wearing-a-hat-and-trenchcoat

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Whether we realize it or like it, the advent of the internet has changed all our lives. From power users like myself to just casual users, things are a lot different from how they used to be.

There are, of course, negatives like the increase of spam, fraud, pornography and so forth, but by and large the impact of the internet has been a positive one.

It has made finding information much quicker and easier.

It has given us better and cheaper communication possibilities such as Skype.

It has revolutionized shopping for millions of people.

And it has spawned new social interaction platforms such as Facebook, Twitter, Pinterest, Tumblr, and not forgetting blogging sites such as WordPress, allowing people to find groups and individuals all over the world with similar interests to their own.

But perhaps the greatest thing that the internet has achieved is to give freedom for ordinary people to say what they want to say and have that reach a much bigger audience than would have hitherto been possible without having to spend vast sums of money trying to do it.

Unfortunately, however, that freedom is the one thing that governments cannot tolerate. Hell bent on control, they see the freedom that the internet provides as a threat to their power. And slowly but relentlessly they are chipping away at that freedom.

In China there is no pretense or deceit. The government there controls the internet and that’s just how it is.

However in the West, as they always do, governments create smokescreens to hide their real objectives. They read our private emails and listen to our private phone calls in secret, only reluctantly admitting to it when they are exposed by a whistleblower such as Edward Snowden, last seen leaving Hong Kong and heading for Moscow.

edward-snowden

And even when they are exposed they can’t tell the truth about what they are doing and why they are doing it. Invariably the excuse trotted out is “security issues”, in other words, they are doing what we don’t want them to do and invading our privacy, for our own good! 

If governments expect the people to have confidence in them, then they in turn should show confidence in the people. That means doing their job properly and targeting people and groups that are a possible threat without treating everyone as a potential terrorist.

And it means being honest with their people. 

Will that happen?

Not a chance!

As I said earlier the game isn’t about what is good for the people, the game is about control of the people. And a big part of that control is ensuring that the herd shall not be heard – if they have anything important to say that the government doesn’t want us to know!

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“Fight Against Stupidity And Bureaucracy”

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Remember this post from way back towards the end of May 2012?

 Furious Flabbergasted Facebook Fools Face Frightening Falls From Fanciful Flagging Financial Flotation Farce. 

As well as being the biggest F’ing title ever seen on a WordPress blog, it drew attention to the debacle that was the much heralded launch of Facebook shares on the stock market.

facebook ipo

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Well, the fallout from what is now being called the IPOcalypse continues.

The head honcho at Nasdaq has had his CEO’s bonus slashed because of it, and rightly so.

But don’t start feeling sorry him just yet. Even with a slash he will still be taking home a $1.3m bonus, slightly north of half a million dollars lighter than it would have been, but still enough to get by on.

Oh yes, and that’s bonus on top of his $1 million salary!

Others at Nasdaq have also been penalized, including Anna Ewing, VP in charge of “technical glitches” that messed up the first day of trading. Her bonus was cut by over a quarter of a million dollars. But keep those hankies where they are, she is still left with a $574,125 bonus for the year.

Losses for angry brokers and traders from the botched IPO, on the other hand, have been estimated at around $500m. Nasdaq has approved just $62m in compensation, I suppose they needed the rest of their money to pay out the bonuses?

Like the banksters, it all begs the question of just how incompetent do you have to be in the financial industry to not just lose your bonus, but lose your job as well?

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“Fight Against Stupidity And Bureaucracy”

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Today we have a selection of fabulously fascinating facts.

Grateful gentlemen readers may send a donation if they so desire.

Enjoy.

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Just twenty seconds’ worth of fuel remained when Apollo 11′s lunar module landed on the moon.

apollo11

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Lemon sharks grow a new set of teeth every two weeks! They grow more than 24,000 new teeth every year!

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Los Angeles’s full name is El Pueblo de Nuestra Senora la Reina de los Angeles de Porciuncula and can be abbreviated to 3.63% of its size, LA

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A fully loaded supertanker travelling at normal speed takes a least twenty minutes to stop.

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John Wilkes Booth shot Lincoln in a theatre and was found in a warehouse. Lee Harvey Oswald shot Kennedy from a warehouse and was found in a theatre.

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A cow produces 200 times more gas a day than a person. (Speak for yourself!)

cowfarts

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100 years from now Facebook will have the accounts of 500 million dead people.

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Rain has never been recorded in some parts of the Atacama Desert in Chile.

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A Koala is the only animal that has finger prints.

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The average person spends two weeks of their lives waiting for a traffic light to change.

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A Blue whale’s tongue weighs more than an elephant.

blue-whale-tongue-n-elephant

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A whip makes a cracking sound because its tip moves faster than the speed of sound.

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There are 500,000 detectable earthquakes in the world each year.

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Back in 1924, a monkey was convicted in South bend of the crime of smoking a cigarette and sentenced to pay a $25 fine and trial costs.

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Nearly 50% of all bank robberies take place on Friday.

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Babies are born without kneecaps. They don’t appear until the child reaches 2 to 6 years.

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The Sears Tower in Chicago contains enough steel to build 50,000 automobiles.

photo-chicago-sears-tower-construction-underway-1971

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The population of the American colonies in 1610 was 350.

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Termites outweigh humans by almost ten to one.

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Stephen Hawking was born exactly 300 years after Galileo died.

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Sex is the safest tranquilizer in the world. It is 10 TIMES more effective than Valium. So you have a headache? GREAT!!!

Smiley_face

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The Mayans Were Just Ten Days Out – 2012, The End

Posted: December 31, 2012 in Factoids, Uncategorized, Unusual
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“Fight Against Stupidity And Bureaucracy”

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Yes folks we all gave the Mayans some stick when their prediction didn’t come true (including me, click here if you missed it) but they were just ten days out, not too bad in a few thousand years!

Today IS the end. The end of 2012. It has been a difficult and frustrating year business-wise because of the continued mess created by the stupid and greedy banksters, so I for one won’t be sorry to see the end of it.

However that gripe aside, it is the last day of 2012 so I thought we should do something a little different today.

So, before we start to look forward to a new, and hopefully better, year, here is a selective look back at some of the events of this year.

There are a couple of ways you could do a post like this. You could link to other sites, particularly newspaper sites because they all seem to do lists of one kind or another at the close of the year. The other way is to compile a more personal one, with the things you remember personally. Both are equally valid, but this being a blog I’ve chosen to go the more personal route and compile a list of the things I remember so, although it is quite long, it is selective and by no means covers everything that happened in 2012. 

I have also included a list of some of the personalities that passed during 2012, you probably heard about them all at the time, but memories being what they are I am sure one or two of them will come as a surprise.

So let’s get started.

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Spectacles 

  • I don’t know whether to class this as the biggest event or the biggest non event of the year, but November 2012 saw the Presidential election campaign and the successful return of President Obama to the Oval Office. Look forward to increasing taxes in 2013!
  • Although on the face of it a national event, because of the power and influence of America, the US Presidential Election has now become an International spectacle watched by several billion people worldwide. What they made of it all I don’t know, but they watched it anyway.

.presidential campaign cartoon 

  • The other big international spectacle of the 2012 that drew large viewing audiences were the Olympic and Paralympic Games held in London in July, August and September. Approximately 10,500 athletes participated in 302 events in 26 sports.
  • In the Olympics the top six gold medal places went to USA (46), China (38), Great Britain (29), Russia (24), and South Korea (13), with Germany and France tying for sixth place with 11 gold medals each. The overall medal table was slightly different, USA (104), China (88), Russia (82), Great Britain (65), Germany (44), and Japan (38).
  • In the Paralympics the top six gold medal places went to China (95), Russia (36), Great Britain (34), Ukraine (32), Australia (32), and USA (31). In the overall medal results the order was China (231), Great Britain (120), Russia (102), USA (98), Australia (85), and Ukraine (84).

London Olympics 2012.

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Weather

  • The weather, at its extremes, was another major talking point of 2012. Starting with the last and worst, ‘Super Storm Sandy’ took most of the headlines and did the most damage, particularly to north east coast areas of New York, New Jersey and Connecticut. The cost is estimated to be in the tens of billions of dollars.

Sandy Yellow Cabs

  • Almost forgotten because of the ferocity of Sandy was Hurricane Isaac that slowly lumbered ashore near the mouth of the Mississippi River on August 28 as a Category 1 Hurricane with 80 mph winds. Isaac’s large size and slow motion caused a storm surge of up to eleven feet, more characteristic of a Category 2 hurricane. Thankfully, however, New Orleans’ new $14.5 billion levee upgrade held against Isaac’s surge, although further up the Mississippi River in Plaquemines Parish near Port Sulphur, it did cause major flooding of homes. In total Isaac still managed to do about $2 billion worth of damage.

Hurricane-Isaac

  • Early March also saw a massive and violent tornado outbreak on an exceptional scale and including two deadly EF-4 tornadoes. In all, seventy tornadoes touched down in eleven states, from southern Ohio to southern Georgia, killing 41 people, with Kentucky and Southern Indiana being hardest hit and suffering 22 and 13 dead, respectively. At one point, 31 separate tornado warnings were in effect during the outbreak covering an area of more than 80,000 square miles. Tornado watches were posted for mpre than 300,000 square miles, an area larger than Texas. Total damage was estimated at $4 billion.

Tornado

  • Also on June 29 a violent line of severe thunderstorms called a derecho swept across the U.S. from Illinois to Virginia, damaging houses, toppling trees, and bringing down power lines. Twenty-two people were killed, and power cuts affected at least 3.4 million people. The derecho was unusually intense due to extreme heat that set all-time records at ten major cities on its south side, helping to create an unstable atmosphere with plenty of energy to fuel severe thunderstorms. At least 38 thunderstorms in the derecho generated wind gusts in excess of hurricane force, making it one of the most severe derechoes on record. Total damage was estimated at $3.75 billion.

derecho storm blackout June 201200 

  • Contrarily, 2012 was the warmest year on record, with July being the warmest month of any month in the 1,400+ months of the U.S. data record, going back to 1895. The spring temperature departure from average was also the largest on record for any season, and March temperatures had the second largest warm departure from average of any month in U.S. history. All-time hottest temperature records were set over approximately 7% of the area of the contiguous U.S., according to a database of 298 major U.S. cities maintained by wunderground’s weather historian, Christopher C. Burt.
  • This, despite all this rainfall and flooding caused by the severe storms, also saw a ‘Great Drought’ in 2012, the full consequences of which we have not yet seen and which may well prove to be the biggest weather story of the year. The area of the contiguous U.S. in moderate or greater drought peaked at 61.8% in July–the largest such area since the Dust Bowl drought of December 1939. The heat and dryness resulted in record or near-record evaporation rates, causing major impact on corn, soybean and wheat belts in addition to livestock production. Drought upstream of the Lower Mississippi River caused record and near-record low stream flows along the river in Mississippi and Louisiana, resulting in limited river transportation and commerce. Crop damages alone from the great drought are estimated at $35 billion. As the total scope of losses is realized across all lines of business in coming moths, this number will climb significantly.

US drought monitor

  • Add to this 2012 as the 3rd worst wildfire year in U.S. history, with 9.2 million acres burned–an area larger than the state of Maryland.

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Scandal

On a completely different subject 2012 will also be remembered as the year of the high profile celebrity paedophiles.

  • Penn State University’s former defensive coordinator, Jerry Sandusky, was convicted of 45 counts of sexually abusing 10 boys over 15 years. He was sentenced to 30 to 60 years in prison. The scandal sparked a national debate over child sex abuse, embarrassed the university and implicated a number of its top officials including legendary football head coach, the late Joe Paterno.
  • In Britain there was a major, and still ongoing, scandal within the BBC because of the actions and subsequent cover-up of the actions of paedophile disc jockey Jimmy Savile (now deceased). This has already led to the resignations of several high-ranking BBC employees, including its Director General.
  • The Roman Catholic Church also continued to suffer from the fallout from decades of child abuse and cover-ups by its priests and hierarchy.

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Technology

In the Techie World 2012 saw a number of milestone events.

  • There was the introduction of  the all new WIndows 8 operating system by Microsoft.
  • Then there was the continuation of the big bust up between Apple and Samsung which in its second year seemed even stronger than ever.
  • The thought police closed down Megaupload and stopped Americans using Intrade.
  • Members of Congress also sponsored the Stop Online Piracy Act, or SOPA, and related bills to make it easier to shut down websites that illegally share music, movies and other content. But opponents (which included just about everybody who used the internet) argued it went too far and could end up shutting down legitimate sites while stifling free expression in the process. Unfortunately for backers of SOPA, Web heavyweights such as Google, Facebook, Reddit and Wikipedia joined the fight against the bill. Sites went black on January 18 to raise awareness. Members of communities such as Reddit put intense pressure on lawmakers (including soon-to-be GOP vice presidential nominee Paul Ryan) until they dropped their support or went on record opposing the bill. The unprecedented backlash eventually caused supporters to shelve SOPA, and quite possibly ushered in a new age of Web activism.
  • Facebook flopped producing one of the longest alliterated titles in the blogsphere during 2012 (Furious Flabbergasted Facebook Fools Face Frightening Falls From Fanciful Flagging Financial Flotation Farce ).
  • Meanwhile Twitter went from strength to strength with even the President of the United States and the Pope tweeting their little hearts out.
  • Speaking of flops, Carol Bartz flopped at Yahoo and was sacked being replaced by Scott Thompson. Yahoo continues to be troubled since its idiotic refusal of a $40 billion plus offer from Microsoft.
  • Google got itself some tablets and started to take on greedy Apple in the iPad market selling its Android versions for substantially less.
  • Along with the rollout of the much anticipated iPhone 5 in September, Apple overhauled iOS, the operating system that runs the phone, its iPad and other mobile devices. A much-hyped feature of the change was Apple’s first effort at its own mapping app – after dumping rival Google’s map software. The result was so bad that a few days later Apple’s CEO was essentially telling customers to use Google Maps.

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Departures

2012 also the passing of many well known personalities and celebrities. For example,

 

In space

Neil Armstrong

  • Neil Armstrong, aged 82 (8/5/1930 to 8/25/2012), astronaut who flew on the Gemini 8 mission (as commander) in 1966 and the Apollo 11 mission (as commander) in 1969, becoming the first of twelve men to walk on the moon.

Sally Ride

  • Sally Ride, aged 61 (5/26/1951 to 7/23/2012), astronaut and the first American woman in space, who flew on Shuttle flights STS-7 (1983) and STS 41-G (1984).

Sir Patrick Moore

  • Patrick Moore, aged 89 (3/4/1923 to 12/9/2012), British astronomer, writer, researcher, radio commentator and television presenter. Moore was a former president of the British Astronomical Association, co-founder and former president of the Society for Popular Astronomy (SPA), author of over 70 books on astronomy, and presenter of the world’s longest-running television series with the same original presenter, the BBC’s The Sky at Night. He was also a self-taught xylophone, glockenspiel player and pianist, as well as an accomplished composer. He was a former amateur cricketer, golfer and chess player. In addition to many popular science books, he wrote numerous works of fiction. Moore served in the Royal Air Force during World War II; his fiancée was killed by a bomb during the war and he never married.

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In politics

Chuck Colson

  • Chuck Colson, aged 80 (10/16/1931 to 4/21/2012), White House counsel under Nixon (1969-72), and imprisoned for obstruction of justice in Watergate scandal (1973). While in prison he underwent Christian conversion and founded Prison Fellowship Ministries.

robert-bork

  • Robert Bork, aged 85 (3/1/1927 to 12/19/2012, U.S. solicitor general under Nixon. As acting Attorney General, he fired Watergate special prosecutor Archibald Cox on Nixon’s orders, after Elliot Richardson and then William Ruckelshaus refused and resigned. He was subsequently Judge for the U.S. Court of Appeals for the District of Columbia (1982-88) and Nominated to the Supreme Court by Reagan in 1987 and rejected by the Senate.

Daniel Inouye

  • Daniel Inouye, aged 88 (9/7/1924 to 12/17/2012), U.S. Representative (D-HI, 1959-63), U.S. Senator (D-HI, 1963-2012).

William Rees Mogg

  • William Rees-Mogg, Baron Rees-Mogg, aged 84 (14 July 1928 – 29 December 2012), British journalist and life peer, Editor of The Times (1967–1981).  

George McGovern

  • George McGovern, aged 90 (7/19/1922 to 10/21/2012), U.S. Rep., D-SD (1957-61); U.S. Senator, D-SD (1963-81); Democratic presidential nominee (1972).

Arlen Specter

  • Arlen Specter, aged 82 (2/12/1930 to 10/14/2012), U.S. Senator (R-PA, 1981-2009; D-PA, 2009-11). Specter was a member of the Warren Commission that investigated the assassination of President John F. Kennedy and co-author of the ‘magic bullet’ theory that Kennedy and Gov. John Connally were shot by the same single bullet.

Norman Schwarzkopf

  • Norman Schwarzkopf, aged 78 (8/22/1934 to 12/27/2012), U.S. Army general. Commanded the U.S. and allied forces in the Persian Gulf War (1991).

Yitzhak Shamir

  • Yitzhak Shamir, aged 96 (10/15/1915 to 6/30/2012), Israeli prime minister (Likud party, 1983-84, 1986-92).

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In TV & movies

Gerry Anderson

  • Gerry Anderson, aged 83 (14 April 1929 – 26 December 2012) publisher, producer, director and writer, famous for futuristic television programs, using ‘supermarionation’, working with modified marionettes, such as Thunderbirds, and Captain Scarlet and the Mysterons. He was also responsible for the real-life sci-fi tv series Space 1999.

Ernest Borgnine

  • Ernest Borgnine, aged 95 (1/24/1917 to 7/8/2012), actor, From Here to Eternity (1953), “McHale’s Navy” (Lt. Quinton McHale, 1962-66), The Poseidon Adventure (1972), Code Name: Wild Geese (1984). Won an Academy award for Marty (Best actor, 1956). Husband of singer Ethel Merman for 32 days in 1964.

Phyllis Diller

  • Phyllis Diller, aged 95 (7/17/1917 to 8/20/2012), comedienne/actress who appeared frequently on talk shows, game shows, and variety shows in the 1960s and 70s.

Charles Durning

  • Charles Durning, aged 89 (2/28/1923 to 12/24/2012), actor, The Sting (1973), The Muppet Movie (1979), The Best Little Whorehouse in Texas (1982), “Evening Shade” (Dr. Harlan Eldridge, 1990-94).

Larry Hagman

  • Larry Hagman, aged 81 (9/21/1931 to 11/23/2012), actor, “I Dream of Jeannie” (Maj. Anthony Nelson, 1965-70), “Dallas” (J.R. Ewing, 1978-91) and reprised the role of J.R. Ewing in the 2012 tv series “Dallas”. Son of actress Mary Martin.

Jack Klugman

  • Jack Klugman, aged 90 (4/27/1922 to 12/24/2012), actor, 12 Angry Men (1957), “The Odd Couple” (Oscar Madison, 1970-75), “Quincy, M.E.” (Dr. R. Quincy, 1976-83). Husband of actress/game show panelist Brett Somers (1953-74). Won two Emmy Awards for “The Odd Couple” (1971, 1973).

Sylvia Kristel

  • Sylvia Kristel, aged 60 (9/28/1952 to 10/17/2012), actress, the controversial Emmanuelle (1974) and three sequels (1975-84), Private Lessons (1981).

Herbert Lom

  • Herbert Lom, aged 95 (1/9/1917 to 9/27/2012), most famous for his portrayal of Chief Inspector Dreyfus in The Return of the Pink Panther (1974) and five more films in the “Pink Panther” series from 1976 to 1993.

William Asher

  • William Asher, aged 90 (8/8/1921 to 7/16/2012), was a TV and film director whose work included “I Love Lucy” (1952-57), Beach Party (1963), “Bewitched” (1964-72), “Alice” (1977-79). Husband of actress Elizabeth Montgomery (1963-73).

Turhan Bey

  • Turhan Bey, aged 90 (3/30/1922 to 9/30/2012), actor who starred in Ali Baba and the Forty Thieves (1944), The Amazing Mr. X (1948).

Peter Breck

  • Peter Breck, aged 82 (3/13/1929 to 2/6/2012), actor,  “Maverick” (Doc Holliday, 1960-62), “The Big Valley” (Nick Barkley, 1965-69).

Frank Cady

  • Frank Cady, aged 96 (9/8/1915 to 6/9/2012), actor,  “Petticoat Junction” (1963-70), “Green Acres” (Sam Drucker, 1965-71).

Harry Carey Jr.

  • Harry Carey, Jr., aged 91 (May 16, 1921 – December 27, 2012), actor, appeared in over 90 movies including Gremplins and Tombstone and several John Ford Westerns such as The Searchers, as well as numerous television series.

Dick Clark

  • Dick Clark, aged 82 (11/30/1929 to 4/18/2012), a TV host on shows “American Bandstand” (1957-87), “The $10,000 Pyramid” (1973-88), “TV’s Bloopers & Practical Jokes” (1984-88), “New Year’s Rockin’ Eve” (1972-2012). He was also the producer of a variety of TV game shows, talk shows, entertainment shows, and movies.

Gary Collins

  • Gary Collins, aged 74 (4/30/1938 to 10/13/2012), actor, Iron Horse (Dave Tarrant, 1966-68), “The Sixth Sense” (Dr. Michael Rhodes, 1972). TV host for “Hour Magazine” (1980-88), Miss America Pageant (1982-90). Husband of Miss America 1959 Mary Ann Mobley (1967-2012).

Don Cornelius

  • Don Cornelius, aged 75 (9/27/1936 to 2/1/2012), host (1971-2007) and producer (1971-88) of “Soul Train”. Producer of the “Soul Train Music Awards” (1987-2007).

Richard Dawson

  • Richard Dawson, aged 79 (11/20/1932 to 6/2/2012), actor and game show host, starred in “Hogan’s Heroes” (Cpl. Peter Newkirk, 1965-71), “Rowan & Martin’s Laugh-In” (regular performer, 1971-73), “Match Game” (panelist, 1973-79), “Family Feud” (host, 1975-88, 94-95), The Running Man (1987).

Michael Clarke Duncan

  • Michael Clarke Duncan, aged 54 (12/10/1957 to 9/3/2012), actor, Armageddon (1998), The Green Mile (1999).

Nora Ephron

  • Nora Ephron, aged 71 (5/19/1941 to 6/26/2012), filmmaker responsible for Silkwood (writer, 1983), When Hary Met Sally (writer, 1989), Sleepless in Seattle (writer, director, 1993), You’ve Got Mail (writer, director, producer, 1998), Julie & Julia (writer, director, producer, 2009).

Chad Everett

  • Chad Everett, aged 76 (6/11/1936 to 7/24/2012), actor, “Medical Center” (Dr. Joe Gannon, 1969-76), Airplane II: The Sequel (1982).

Jonathan Frid

  • Jonathan Frid, aged 87 (12/2/1924 to 4/13/2012), actor, “Dark Shadows” (Barnabas Collins, 1967-71).

Don Grady

  • Don Grady, aged 68 (6/8/1944 to 6/27/2012), cast member, “The Mickey Mouse Club” (1957-58). Actor, “My Three Sons” (Robbie Douglas, 1960-71).

The Andy Griffith Show

  • Andy Griffith, aged 86 (6/1/1926 to 7/3/2012), cast member, “The Mickey Mouse Club” (1957-58). Gained prominence in the starring role in A Face in the Crowd (1957) before becoming better known for his television roles, playing the lead characters in the 1960–1968 situation comedy The Andy Griffith Show and in the 1986–1995 legal drama Matlock.

Robert Hegyes

  • Robert Hegyes, aged 60 (5/7/1951 to 1/26/2012), actor, “Welcome Back, Kotter” (Juan Epstein, 1975-79).

Sherman Hemsley

  • Sherman Hemsley, aged 74 (2/1/1938 to 7/24/2012), actor, “All in the Family” (George Jefferson, 1973-75), “The Jeffersons” (George Jefferson, 1975-85), “Amen” (Deacon Ernest Frye, 1986-91).

Celeste Holm

  • Celeste Holm, aged 95 (4/29/1917 to 7/15/2012), actress, All About Eve (1950). Won an Academy award for Gentleman’s Agreement (Best supporting actress, 1948).

George_Lindsey

  • George Lindsey, aged 83 (12/17/1928 to 5/6/2012), actor, “The Andy Griffith Show” (Goober Pyle, 1965-68), “Mayberry R.F.D.” (Goober Pyle, 1968-71), “Hee Haw” (Goober, 1972-92).

Ron Palillo

  • Ron Palillo, aged 63 (4/2/1949 to 8/14/2012), actor, “Welcome Back, Kotter” (Arnold Horshack, 1975-79).

victor spinetti

  • Victor Spinetti, aged 82 (9/2/1929 to 6/18/2012), actor, The Beatles movies A Hard Day’s Night (1964), Help! (1965), “Magical Mystery Tour” (1967).

mike_wallace

  • Mike Wallace, aged 93 (5/9/1918 to 4/7/2012), TV news correspondent famous for his adversarial style. Programs include “Mike Wallace Interview (1957-60)”, “60 Minutes” (1968-2006).

Richard D. Zanuck

  • Richard D. Zanuck, aged 77 (12/13/1934 to 7/13/2012), film producer for movies like Jaws (1975), Neighbors (1981), Cocoon (1985), Driving Miss Daisy (1989), Deep Impact (1998), Planet of the Apes (2001). Son of producer Darryl F. Zanuck.

.

In Music

Robin Gibb

  • Robin Gibb, aged 62 (12/22/1949 to 5/20/2012), member of the Bee Gees with older brother Barry and twin brother Maurice (1958-69, 1970-2003). Hits include “How Can You Mend a Broken Heart” (1970), “Jive Talkin’” (1975), “Stayin’ Alive” (1977), and “Too Much Heaven” (1979). Older brother of Andy Gibb.

Marvin Hamlisch

  • Marvin Hamlisch, aged 68 (6/2/1944 to 8/6/2012), songwriter. Hits include “Sunshine, Lollipops, and Rainbows” (1965), “The Way We Were” (1973), “The Entertainer” (1974), “What I Did For Love” (1975), and “Nobody Does It Better” (1977).

whitney-houston

  • Whitney Houston, aged 48 (8/9/1963 to 2/11/2012), pop singer. Hits include “Saving All My Love for You” (1985), “I Wanna Dance With Somebody” (1987), and “I Will Always Love You” (1992). Wife of singer Bobby Brown (1992-2007). Cousin of singer Dionne Warwick.

Andy Williams

  • Andy Williams, aged 84 (12/3/1927 to 9/25/2012), TV host, “The Andy Williams Show” (1962-71) and singer, “Butterfly” (1957), “Moon River” (1962), “Love Story (Where Do I Begin)” (1971).

Donna Summer

  • Donna Summer, aged 63 (12/31/1948 to 5/17/2012), pop/disco singer. Hits include “Love to Love You Baby” (1975), “Last Dance” (1978) “Bad Girls” (1979), and “She Works Hard for the Money” (1983).

Ravi Shankar

  • Ravi Shankar, aged 92 (4/7/1920 to 12/11/2012), sitar player. Mentored rock musician George Harrison (1966), played in the Concert for Bangladesh (1971). Father of jazz musician Norah Jones (1979).

dave-brubeck

  • Dave Brubeck, aged 91 (12/6/1920 to 12/5/2012), jazz pianist. Hits include “Take Five” (1959).

Hal David

  • Hal David, aged 91 (5/25/1921 to 9/1/2012), lyricist and  songwriting partner of Burt Bacharach (1957-1972). Hits include “Walk on By”, “What the World Needs Now Is Love”, “What’s New Pussycat?”, “The Look of Love”, “This Guy’s In Love With You”, “Raindrops Keep Fallin’ On My Head”, “Close to You”, and “One Less Bell to Answer”. Inducted to the Songwriters Hall of Fame.

Levon Helm

  • Levon Helm, aged 71 (5/26/1940 to 4/19/2012), rock vocalist and drummer, member of The Band (1968-1976, 1983-1999). Sang lead on “The Weight” (1968), “Up on Cripple Creek” (1969), and “The Night They Drove Old Dixie Down” (1969).

Etta James

  • Etta James, aged 73 (1/25/1938 to 1/20/2012), blues singer. Hits include “The Wallflower” (1955), “At Last” (1961), “I Just Want to Make Love to You” (1996). Won four Grammy awards (1994-2004). Inducted into the Rock & Roll Hall of Fame (1993).

Davy Jones

  • Davy Jones, aged 66 (12/30/1945 to 2/29/2012), actor/singer, “The Monkees” (1966-68). Sang lead on “Daydream Believer” (1967).

Tony Martin

  • Tony Martin, aged 98 (12/25/1913 to 7/27/2012), singer. Hits include “There’s No Tomorrow” (1949), “I Get Ideas” (1951), “Walk Hand In Hand” (1956). Actor; Casbah (1948), Here Come the Girls (1953), Hit the Deck (1955). Husband of actress Cyd Charisse (1948-2008).

Earl Scruggs

  • Earl Scruggs, aged 88 (1/6/1924 to 3/28/2012), bluegrass banjo player, teamed with Lester Flatt (1948-69). Hits include “The Ballad of Jed Clampett” (1963).

Kitty Wells

  • Kitty Wells, aged 92 (8/30/1919 to 7/16/2012), country singer. Hits include “It Wasn’t God Who Made Honky Tonk Angels” (1952), “I Can’t Stop Loving You” (1958), “Heartbreak U.S.A.” (1961). Inducted into the Country Music Hall of Fame (1974). Received a Grammy Lifetime Achievement Award (1991). Wife of country singer Johnnie Wright (1937-2011).

.

In Sport

Gary Carter catcher

  • Gary Carter, aged 57 (4/5/1954 to 2/16/2012), catcher for Montreal Expos (1974-84, 1992), New York Mets (1985-89), and two other teams (1990-91). 11-time All-Star (1975, 1979-88) and 3-time Gold Glove Award winner (1980-82). Inducted into the Hall of Fame (2003).

Lee MacPhail

  • Lee MacPhail, aged 95 (10/25/1917 to 11/8/2012), major-league baseball executive, general manager of the Baltimore Orioles and New York Yankees, American League President (1974-83) and President of the Players Relations Committee. Elected to the MLB Hall of Fame (1998). Son of baseball executive Larry MacPhail and father of baseball executive Andy MacPhail (1953).

Marvin Miller

  • Marvin Miller, aged 95 (4/14/1917 to 11/27/2012), executive director of the Major League Baseball Players Association (1966-82), negotiated collective bargaining, arbitration, and free agency with the baseball owners.

Art Modell

  • Art Modell, aged87 (6/23/1925 to 9/6/2012), owner of the NFL Cleveland Browns (1961-95) and Baltimore Ravens (1996-2004). President of the National Football League (1967-69). Was the principal force in having NFL games televised on Monday nights (1970).

joe-paterno

  • Joe Paterno, aged 85 (12/21/1926 to 1/22/2012), college football coach (Penn State 1966-2011). Won 24 bowl games and 3 Big Ten championships. Inducted into the College Football Hall of Fame (2006). Fired for not doing more about allegations of child molestation taking place in his facilities.

Darrell Royal

  • Darrell Royal, aged 88 (7/9/1924 to 11/7/2012), college football head coach for Mississippi State University (1954-55), University of Washington (1956), and University of Texas (1957-76). Won three national championships (1963, 1969, 1970). Had 23 consecutive winning seasons.

Alex Karras

  • Alex Karras, aged 77 (7/15/1935 to 10/10/2012), NFL football player; Detroit Lions (tackle, 1958-71). Actor, Blazing Saddles (1974), “Webster” (George Papadapolis, 1983-89).

Junior Seau

  • Junior Seau, aged 43 (1/19/1969 to 5/2/2012), NFL linebacker for San Diego Chargers (1990-2002), Miami Dolphins (2003-05), and New England Patriots (2006-09). Was on the Pro Bowl team 12 consecutive years (1991-2002).

.

In Publishing & Books

Ray Bradbury

  • Ray Bradbury, aged 91 (8/22/1920 to 6/5/2012), science fiction writer whose works include The Martian Chronicles (1950), and Farenheit 451 (1953).

Andrew Breitbart

  • Andrew Breitbart, aged 43 (2/1/1969 to 3/1/2012), web publisher, editor for The Drudge Report, and founder of Brietbart.com and BigGovernment.com (2009). Facilitated an undercover video purporting to expose fraud in ACORN (2009).

Helen Gurley Brown

  • Helen Gurley Brown, aged 90 (2/18/1922 to 8/13/2012), author of Sex and the Single Girl (1962) and editor of Cosmopolitan (1965-1997).

Jim Unger

  • Jim Unger, aged 75 (1/21/1937 to 5/29/2012), cartoonist of “Herman” (1974-92).

Gore Vidal

  • Gore Vidal, aged 86 (10/3/1925 to 7/31/2012), novelist whose works include Myra Breckinridge (1968) and Lincoln (1984).

Maurice Sendak

  • Maurice Sendak, aged 83 (6/10/1928 to 5/8/2012), children’s writer whose works include Little Bear (1957) and Where the Wild Things Are (1963).

James Q. Wilson

  • James Q. Wilson, aged 80 (5/27/1931 to 3/2/2012), sociologist/criminologist professor at Harvard (1961-87). Rejected prevailing theories that most/all criminal behavior is the product of societal factors. Wrote Varieties of Police Behavior (1968) and Thinking About Crime (1975).

Zig Ziglar

  • Zig Ziglar, aged 86 (11/6/1926 to 11/28/2012), motivational speaker and author (See You at the Top, 1975).

.

Miscellaneous

Henry Hill

  • Henry Hill, aged 69 (6/11/1943 to 6/12/2012), organized crime figure with the Luchesse crime family of New York, participated in a hesit of Lufthansa Air (1978), became an FBI informant, expelled from the U.S. Witness Protection Program (1982). Subject of the film Goodfellas (1990).

Sun Myung Moon

  • Sun Myung Moon, aged 92 (2/25/1920 to 9/2/2012), founder of the Unification Church (1954), also known as “Moonies”. Convicted of willfully filing false US income tax returns (1982); imprisoned for 13 months (1984-85).

Vidal-Sassoon

  • Vidal Sassoon, aged 84 (1/17/1928 to 5/9/2012), hairdresser to the rich and famous.

Rodney King

  • Rodney King, aged 47 (4/2/1965 to 6/17/2012), victim of a videotaped beating involving seven Los Angeles police officers on 3 March 1991 that made him a symbol of police brutality and led to racially charged riots in Los Angeles. Four officers were tried; three were acquitted and the jury failed to reach a verdict on the fourth. Their acquittals on 29 April 1992 prompted a riot in which 54 people died. Two officers were subsequently found guilty of civil rights violations in federal court, and King was paid $3.8 million by the city of Los Angeles.

.

. 

Manmade Tragedies

2012 also had its share of manmade tragedies.  

  • In Aurora, Colorado a crazed gunman opened fire on an unsuspecting audience during a midnight screening of the Batman new movie “The Dark Knight Rises”, killing 12 people and wounding 58 others. The killer was former neuroscience graduate student James Holmes.
  • In Benghazi , Libya Islamic militants stormed the U.S. mission on the anniversary of the September 11, 2001, attacks on New York and Washington, killing U.S. Ambassador Christopher Stevens and three other Americans. The attack was the first to kill a U.S. ambassador in the line of duty since 1979 and sparked severe criticism of the Obama administration. An official inquiry found widespread failures in both security planning and internal management.
  • In a Wisconsin Sikh temple a gunman killed six people and critically wounded three others, before he was himself shot dead by police.
  • At the Empire State Building in New York City, an out-of-work fashion designer fatally shot a former co-worker before being killed in a blaze of gunshots by police, stunning tourists and commuters outside of one of New York’s most popular landmarks.
  • Finally, at Sandy Hook Elementary School in Newtown, Connecticut, Adam Lanza shot dead 20 children and six staff members, before killing himself. He had also killed his mother.

. 

Other notables

  • Lance Armstrong, the disgraced cycling champion had his seven Tour de France victories scratched from the records and was banned from cycling for life after the International Cycling Union (UCI) ratified the United States Anti-Doping Agency’s (USADA) sanctions against him. A USADA report said Armstrong had been involved in the “most sophisticated, professionalized and successful doping program that sport has ever seen.”
  • Record-setting skydiver. Austrian daredevil Felix Baumgartner leapt into the stratosphere from a balloon near the edge of space 24 miles above Earth and safely landed, setting a record for the highest skydive and breaking the sound barrier in the process.
  • CIA Director, David Petraeus, who had formerly played a key role in the Iraq war, and led the U.S. Central Command and commanded U.S. and NATO troops in Afghanistan, stepped down after admitting he had engaged in an extramarital affair.

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.

“Fight Against Stupidity And Bureaucracy”

. 

Another selection of those awkward moments we all experience as we journey through life. Some make you laugh, some make you angry, but all of them make you feel a little bit stupider that you really thought you were.

Enjoy.

 

 

That awkward moment when you realize you left the rest room with your dress tucked into your undies.

(Definitely haven’t managed that one yet, but I know someone who has.)

 

 

That awkward moment when you accidentally fart doing sit-ups at the Gym.

(Hey, another gold medal possibility if they make it an Olympic sport. For ‘accidentally’ read ‘inevitably’.)


 

 

That awkward moment when you see someone coming your way after you’ve just farted.

(Why do you think people take dogs with them for walks?)

 

 

That awkward moment when your girlfriend asks you if you love her more than your car.

(There’s only one answer to this one.)

 

 

That awkward moment when you bend down and your pants rip and you’re wearing floral underwear.

(Hello sailor!!!)

 

 

That awkward moment when you get caught in the rain in a cheesecloth dress, and really big underwear.

(I told you I don’t wear dresses, but seen it happen, very funny. Really big underwear, also known to us men folk as, ‘kidney warmers’. Sorry ladies.)

 

 

That awkward moment when someone walks in while you’re changing.

(Can be just as awkward when you walk in on someone else – or not – depending.)

 

 

That awkward moment when you confidently say the wrong answer aloud in class.

(And then try to turn the whole thing into a bad joke.)

 

 

That awkward moment when someone is doing the dishes and you slowly put another dish in the sink.

(Just do it with a smile and you’ll be okay. But only do it once.)

 

 

That awkward moment when you are trying to impress someone on the dance-floor but you dance into a pole.

(Prefer to watch other people dance where there are poles.)

 

 

That awkward moment when you think the trash can is a stool.

(So why hasn’t anyone invented a trash can that doubles as a stool – or is that a crap idea?)

 

 

The awkward moment when your friends make plans right in front of you, and the plans don’t include you.

(I can take a hint.)

 

 

That awkward moment when you’re so tired from taking a nap that you feel like to have to take another nap to get over your nap.

(Oh yes, the nap recovery nap nap!)

 

 

That awkward moment when you lose your bikini top in the surf.

(Not a problem for me, but I see the point…er..points??)

 

 

That awkward moment when you are on the beach and someone has told you that your tampon string is hanging out of your bikini.

(What does one do, and where does one do it?)

 

 

That awkward moment when you don’t know where to stand to pull your wedgie out without being noticed.

(Impossible to do without being seen. Impossible to do and still look elegant.)

 

 

That awkward moment when your neighbor starts talking to you while you’re hanging out your underwear.

(Hi there, washing the smalls today?)

 

 

That awkward moment when one heel flies off your high heels on the dance floor.

(It still baffles me why women wear high heels and how they can walk in them – or not, see videos.)

 

High heels fall 1

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High heels fall 2


 

=================

 

“Fight Against Stupidity And Bureaucracy”

 .

Here are a few more examples of what I like to call awkward moments. Things that happen that are, by and large, beyond our control. Sometimes they make you laugh and sometimes they make you feel stupid.

Mostly, though, I laugh, that’s better!

Hope you do too.

Enjoy.

 

 

That awkward moment when it’s quiet and you’re eating something crunchy.

(I take pride in this one.)

 

 

That awkward moment when you can’t tell if someone is a boy or a girl.

(The older I get, the more difficult it seems to be.)

 

 

That awkward moment when you start to cross your legs during a phone call because you’re busting to go to the loo.

(Hmmmm, been there, crossed that…er, those.)

 

 

That awkward moment when she looks at you and smiles. And then her boyfriend glares at you.

(Boy, the stories I could tell….)

 

 

That awkward moment when you change your Facebook status to “single” and your ex ‘Likes’ it.

(Facebook, yuk!)

 

 

That awkward moment when you type your ex’s name into your Facebook status instead of the ‘Search’ bar.

(Make that a double yuk!!)

 

 

That awkward moment when your Facebook friend tags a photo of you as a kid.

(Strike three, yuk!!!)

 

 

That awkward moment when you are in an important meeting and someone farting unexpectedly starts you to laugh.

(Most awkward if you are the culprit. )


.

. 

That awkward moment when you’ve accidentally sent a text to the friend you were gossiping about.

(Guilty as charged.)

 

 

That awkward moment when you say “I love you” and he says “Okay”.

(Not me, pal.)

 

 

That awkward moment when someone you don’t want to date asks you out.

(I’m washing my hair. Helps if you have some though.)

 

 

That awkward moment when you are introducing someone and get their name wrong.

(Never been good with names.)

 

 

That awkward moment when you are in a class where you don’t speak to anyone, and your teacher says go find a partner.

(One of the drawbacks of being a loner, I guess.)

 

 

That awkward moment when someone mistakes you for the shop assistant.

(Happened to me in Walmart, they didn’t seem to think it unusual that I was no help at all.)

 

 

That awkward moment when you step out of the shower and then realize there is no towel.

(Very difficult to put your clothes on when you’re soaking wet.)

 

 

That awkward moment when you are gossiping about someone and they walk up behind you.

(Whoops, caught out again!)

 

 

That awkward moment when you push on the toilet door thinking no one was inside.

(I feel an airport toilet story coming on.)

 

 

That awkward moment when a man walks into the ladies toilets

(Haven’t managed that one yet.)

 

 

That awkward moment when you pick up the remote control to answer the phone.

(Or worse, see video.)


 

========================

 

 

“Fight Against Stupidity And Bureaucracy”

.

Way back towards the end of May I wrote a post with a big ‘F’-ing title about the greed-inspired stupidity and madness that preceded the Facebook IPO. Remember, “Furious Flabbergasted Facebook Fools Face Frightening Falls From Fanciful Flagging Financial Flotation Farce”

Launched at the ridiculous price of $38 a share, or about 100 times the company’s earnings, the price momentarily made it to $45, but then quickly plummeted to $34. 

In my post in May I suggested that the shares were worth more like $18 a share rather than $38. As of yesterday (August 16th) the price had fallen below $20.

Facebook stock has crashed

Facebook stock has crashed

I’m not saying this by way of blowing my trumpet, because I now think that my $18 peg may have been rather optimistic too. Investors have by and large turned against Facebook.

Apart from the odd blip, the stock has been on a downward trend pressured by disappointing earnings and by the fact that from today the so-called “lockups” that have prevented some early Facebook backers from unloading their stakes begin to expire. This simply means they will be able to sell shares into the market and with around two billion shares eligible for a sell off between now and May 2013, with a big one coming in November, the signs for a price recovery are ominous.

In fact further falls are more than likely.

Those who can are shorting the stock like crazy. (Shorting is where your broker borrows shares which you sell immediately in the hope that you can buy them back later at a lower price.)

The number of Facebook shares on loan to short sellers has risen from 63 million a month ago to more than 93 million.

So is it a good buy now at $18? I think not. Not for a while anyhow, until these locked shares find their way into the market and the price stabilizes and that will probably be well into 2013.

In the short term the status quo is probably down down deeper and down.

Forget Facebook and enjoy some music from the 70s instead.

 

http://www.youtube.com/watch?v=IKe2OfXLxuc

 

The small print.

Fasab disclaimer: this blog post does not constitute professional advice as regards investments on the stock exchange, such advice would only be given and indicated thus if an outrageous fee were being charged and this blog is being given to you for free. Also any investor should always be aware that shares can fall as well as plummet and should act accordingly by not investing any money they can not afford to lose.

“Fight Against Stupidity And Bureaucracy”

 

 

First of all, well done if you were one of the people who tried out the quiz. I hope you enjoyed it.

Today’s blog, if the alliterated title full of “f” words hasn’t given it away already, is regarding financial matters. No, hang on, stick with it. It’s not that bad really.

Were you one of the “zuckers” who bought shares in Facebook? I hope the answer is no, because it is another example of the stupidity and madness that greed can provoke in people who should know better, but frequently don’t.

Zuckerberg Pre-IPO

Zuckerberg Pre-IPO

I can’t predict the future, but I knew that the Facebook IPO would cost a lot of idiots a lot of money.

The IPO launch price was tagged at $38 per share or something like 100 times the company’s earnings. It is easy to know why they priced it so. They set the price that high because they thought they could get away with it. Because the herd, unknowing and unthinking, would swallow the crazy hype about the company and buy, buy, buy!

Does that show more than a little contempt for the people you want to invest in your company?  Sadly I think that it does. Not that it is all down to the greed of Zuckerberg. The advising and underwriting banks had a lot to do with it and we know for a fact that they have nothing but contempt for ordinary mortals like ourselves. We are the marks, they are the conmen!

Usually they take the time to milk us dry before abandoning the market and leaving the ordinary investor to lick their wounds. But this time it happened fast. Within hours in fact!

Those who were not in the “loop” and couldn’t buy pre-launch, waded in on launch day and bought, bought, bought from $38 right up to $45 which the shares reached for a couple of minutes.

zucker

zucker

The poor fools got whacked almost straight away.

The market very quickly began to realize it had been conned, that this was not a LinkedIn IPO and the issue price had been set far, far too high to ever double on launch. An element of sanity crept in. Facebook  promptly started to fall, by about 11%.

In other words if you’d invested $1000 in the morning you would have turned it into $868 in the space of a few hours. If you were unfortunate to buy at the peak price, your $1000 would now be worth just a little over $700. OUCH!

Zuckerberg Post-IPO

Zuckerberg Post-IPO

But it wasn’t just individual investors that got caught. Almost every large mutual fund etc., most of which are run by, let’s be kind and say, poorer quality managers, felt compelled to purchase Facebook shares, not because they though they were a good buy but because they saw other idiots doing the same and they were frightened about the possibility of missing out “the next Big Thing”.

Little do most investors realize, but the situation could have been even worse had the price not been artificially propped up for a while by the investment bank underwriters.

For the benefit of those who aren’t investors and/or who don’t know how the market works in things like this, here is a quick summary. IPOs are underwritten by investment banks like Morgan Stanley. The investment banks therefore have their reputations on the line. If the IPO goes really badly so does their reputation and their chances of being asked to underwrite future IPOs (and they get huge gigantic enormous fees for this work so they don’t want to lose it.)

Trust Me I'm A Banker

Trust Me I’m A Banker

Thus, in the case of Facebook, when the share price stopped climbing and quickly fell back to the $38 launch price, the investment bank underwriters stepped in and bought heavily. Without their intervention Facebook could have fallen catastrophically on its first day of trading.

Facebook does generate cash, mainly from advertising revenue. It has a vast following and that advertising revenue should rise substantially over time, so the company may one day be worth the $38 and even more. Google launched at $85 and is now worth $600, but it is a proven quantity revenue-wise and the price rise took time.

But, and it’s a big BUT, Facebook would need to be a hell of a lot better managed than at its market launch.

Thumbs DOWN Facebook stock IPO crash

Thumbs DOWN Facebook stock IPO crash

But for now, I’m with my other “mad” friend Jim Cramer of Mad Money fame who rightly and sensibly advised a pass on the Facebook IPO. There may be a time to buy into Facebook, but the writing on my wall says “not today thanks”. Booyah Jim!

Jim Cramer "Booyah!"

Jim Cramer “Booyah!”

There’s an obvious question that I haven’t addressed. It is, “So what do I think Facebook is worth?” Well for what my opinion on these matters is worth (i.e. probably not much) I would peg the value at a lot closer to $18 than $38. I may be right, or I may be wrong, but I really don’t care because I haven’t bought any. I might reconsider if it the price comes a bit closer to my valuation, but it’s only a might.

The small print. (I know it’s just the same size, WordPress didn’t tell me how to change it.)

Fasab disclaimer: this blog post does not constitute professional advice as regards investments on the stock exchange, such advice would only be given and indicated thus if an outrageous fee were being charged and this blog is being given to you for free. Also any investor should always be aware that shares can fall as well as plummet and should act accordingly by not investing any money they can not afford to lose.