Uno Restaurant Faces `Default' Rating on Missed Bond Payment (Bloomberg)
We're not big fans of Chicago pizza, and we're definitely not big fans of chain restaurants that turn Chicago pizza into an abomination. So we can't say we're really sad to see that Pizzeria Uno seems to be falling on hard times. The company faces a "default" rating as it's elected to skip a bond payment. Not good. C'mon guys. Maybe just time to close up shop.
Russia May Turn Focus to Pro-U.S. Ukraine After Beating Georgia (Blooomberg)
Like some acquisitive corporation, everyone's wondering what Russia's next move is. Word on the street is that it's got a bone to pick with Ukraine, a nation with pro-western sympathies that would like to join NATO. No joke they'd like to join NATO. If there's one thing the battling in Georgia has done, it's clearly encouraged everyone to get their NATO applications finished and apply for early admission. And obviously the clock on Russia is ticking to get fighting, before another such invasion would trigger a global retaliation.
Japanese economy posts second-quarter contraction (AP)
Is Japan backsliding? Well, clearly the economy is getting smaller again, which usually has something to do with a recession. The numbers seem pretty staggering to -- an annualized fall of 2.4 percent, compared to growth of 4 percent. Annualized is important, since it's too early to say that that will hold up. The good news is that government officials denied the return of the "lost decade" (the 90s).
Biggest drop in U.S. oil demand in 26 years (Reuters)
Quick stat: "U.S. oil demand during the first half of 2008 fell by an average 800,000 barrels per day (bpd) compared with the same period a year ago, the biggest volume decline in 26 years, the Energy Information Administration said on Tuesday."
Record.8.Gold.Phelps (Tradesports)
Watching Michael Phelps rack up gold medals with such ease is pretty fun, though not exactly, ahem, thrilling. When you expect someone to win and win big like that, and then he does win big like that, what's to get excited about, really? That being said, we still can't get over the 4x100M relay. So will he get 8 golds? It's looking more and more likely. What would stop him. The big on Tradesports is at .65 on the dollar, but we're not sure that actually means something, since it looks like there's zilch for volume, and there's not even an ask.
In Mystery Cotton-Price Spike, Traders Hit by Swirling Forces (WSJ)
Definitely an interesting read... WSJ does its own investigation into a mysterious spike in the price of cotton earlier this year. Ultimately there were various factors that caused it, including activity from various financial players and speculators, certain rules that had gone into effect, and the end of floor trading. That last point should hearten floor trading partisans: "The next Monday, March 3, it switched to all-electronic trading, which then began at 1:30 a.m. Eastern time. Between 1:30 and 4:33 a.m., May cotton shot up three cents a pound -- the limit the futures contract could rise that day under ICE rules. When U.S. traders awoke, phone lines were soon abuzz between New York and the cotton-trading hub of Memphis, Tenn. Frantic investors wondered where the price pressure was coming from. But with no more floor traders to consult for scuttlebutt, they were in the dark." Evidently prices alone don't always convey the information folks need.
Best Buy to sell iPhone in the U.S. (Reuters)
So Best Buy the big box electronics retailer whose favorite color is yellow is going to get some iPhones to sell. The chain, which already sells some iPods, will be the first independent vendor of the phenom devices. It will be interesting to see if BBY stock moves at all on the news, which came out last night. Apple has a tradition of really putting the screws to its partners. AT&T had to lower its earnings outlook due to the new iPhone 3G terms. Hard to imagine Best Buy making any money on the devices themselves, though perhaps they're excited about a "halo effect".
Posted by guest , Aug 13, 2008 7:34AM
Russia's next move is the Caspian.
Posted by guest , Aug 13, 2008 7:43AM
Too long, didn't read.
Posted by guest , Aug 13, 2008 8:27AM
Lou Malnati's is better than Unos IMHO.
--Lifelong Chicagoan
Posted by guest , Aug 13, 2008 8:35AM
I grew up in Chicago and went as a kid many times to the original Uno's. It had all black walls which people wrote on and drew pictures on. Big pitchers of beer and deep dish pizz that was out of this world. Served in the pizza pan, baked in a wood burning oven. You needed a fork, and it took forever to eat. Wonderful.
The Uno chain is crap and deserves to fall. They took a great place with excellent food and destroyed it.
Posted by guest , Aug 13, 2008 8:44AM
The only thing that I care is whether about Russia they are going to disrupt any gas/oil exports.
At least one thing they have to keep it pumping to maintain their army.
Posted by finance_baller , Aug 13, 2008 9:07AM
"The big on Tradesports is at .65 on the dollar"?? Weak. How about one day on DB without a spelling or gramatical error?
Posted by guest , Aug 13, 2008 9:09AM
Lou Malnati likes another dude to be balls deep
Posted by guest , Aug 13, 2008 9:26AM
The oil story shows that demand-supply VERY much works in the real world, unlike the fantasy world of people having not options and oil companies sucking their blood out that the liberals would have everyone believe in.
Deman supply is beautiful. Look at Walmart - when squeezed people automatically downgraded and Walmart got a whole bunch of new customers.
Similarly, the net gain in average fuel efficiency by virtue of people buying more Honda Fits and fewer Chevy Tahoes in the space of a year beats the shit out of any fuel efficiency gains that CAFE standards would achieve in a decade.
The market fucking works! If only the socialist liberals and their apologizers would let it be.
Posted by guest , Aug 13, 2008 9:45AM
You all must have noticed that in NY UNO's is a fave among blacks. You can count the white faces in em. Anyone have a clue as to why?
Posted by guest , Aug 13, 2008 9:50AM
8 Imagine then how much faster it would have worked if there was say a $2/gallon carbon tax. With proceeds used to build some high speed railroads and fix America's sorry infrastructure. Gas is still too cheep. The WSJ, that liberal rag, in fact reported that you could justify a tax of $2 per gallon just to cover the military costs attributible to ensuring the flow midddle east oil.
Posted by diablo , Aug 13, 2008 9:52AM
Glad to see UNO go down. About time.
Posted by guest , Aug 13, 2008 10:22AM
@6 -
Jesus christ I wish all of you faggots would stop bitching about every single minor spelling/grammatical error like its the end of the world.
Posted by guest , Aug 13, 2008 11:36AM
@12, rite on!
@6, stop embarrassing yourself. Baller, my ass!
Posted by mrpink , Aug 13, 2008 11:46AM
I think I am going to order Giordano's here on the floor today. Still love the deep dish pizza!
-mrp
Posted by DS , Aug 13, 2008 12:07PM
Well said @8.
Posted by Anal_yst , Aug 13, 2008 1:20PM
@8
Im sure your question was rhetorical, but you know if the cause of desired outcomes is 'market forces' those libs can't take any credit for it, as opposed to their convoluted and ofen counterproductive legislating.
Is there a futures market on the probability of legislation to acheive its "intended" goals btw? Lots of $ to be made there surely.
Posted by guest , Aug 13, 2008 2:56PM
Original Uno's (and Duo's across the street) is nothing like the chain
Posted by guest , Aug 13, 2008 5:48PM
#4
I'm pretty sure you didn't go there as a kid since the restaurant you described is Gino's East, not Uno's.
I had a very fun drunken meal after a skipped senior dance. One of my friends had asked a very fast out of his league girl to the dance.
She was popped by the cops at a hotel for renting a room under a false name and possesion of pot.
After we picked her up at the police station we took the limo downtown to Gino's. She told my friend she was too tired to do anything after the police action and proceeded to jerk him off under the table.
She went on to become a model.
Posted by guest , Aug 13, 2008 7:52PM
i lived in chicago for seven years. the pizza is garbage. giordano's is the only one that's close to acceptable. i had to go to Gold Coast Pizza on division (across from the awesome 5 Faces, which has the best falafels made my mexicans) for something that resembled new york pizza. and it was over $3 a slice! i could only eat chicago deepdish heated up the next day and while drunk.
chicago's a great food city, but not for pizza.
Posted by guest , Aug 13, 2008 7:56PM
i'm guessing the spike in cotton prices was a delayed reaction to the Emancipation Proclamation.