When North Korea Collapses, Jim Rogers Will Have A Stranglehold On The DPRK Commemorative Coin MarketBy Jon Shazar
It can’t be a coincidence that perhaps the greatest 8-K ever filed was filed at 5:07pm on July 3:
In connection with the Merger described in Item 2.01 of this Current Report on Form 8-K and pursuant to the terms of the Merger Agreement, effective as of the effective time of the Merger, William D. Johnson, the former Chairman, President and Chief Executive Officer of Progress Energy, was appointed as the President and Chief Executive Officer of Duke Energy.
Mr. Johnson, age 58, was Chairman, President and Chief Executive Officer of Progress Energy, from October 2007 through July 2, 2012. … Mr. Johnson previously served as President and Chief Operating Officer of Progress Energy, from January 2005 to October 2007.
Mr. Johnson subsequently resigned as the President and Chief Executive Officer of Duke Energy. See disclosure below under the heading “Resignation of Mr. Johnson and Reappointment of Mr. Rogers.”
I have no way of researching this but I’ll go out on a limb and say it’s unlikely that any company has ever previously announced the hiring and firing of a CEO within three paragraphs of each other in the same 8-K, with an employment agreement dated June 27 and a separation agreement dated July 2. This is not, of course, just a case of hiring a young whippersnapper who seemed full of potential and then finding him injecting heroin in the executive bathroom on his first day on the job; there seems to be some more Machiavellian maneuvering going on. Duke and Progress completed a stock-for-stock merger this week, forming the new Duke Energy; the deal gave Duke shareholders 63% of the combined company and 11 of the 18 new directors, including the executive chairman, while Progress’s CEO was set to be president and CEO of the combined company. Which, and expect to hear this argued in all seriousness in court: he totally was for five days! The Journal has more: Read more »
This Is A Story About Jim Rogers Allegedly Flipping Out On His Dentist After Allegedly Receiving “Cosmetic Enhancements” To His TeethBy Bess Levin
One thing many tend to forget when thinking about multi-billionaires is that multi-billionaires are people too. People who just want to be loved. People who just want to feel good about themselves. People who just want to be beautiful. And just because they are worth mucho dinero does not necessarily mean that when they look in the mirror, they like what they see back. So they try and improve their appearances, thinking a tighter ass or more sculpted calves or higher cheekbones will make them happy and when things don’t pan out like they’d hoped, they get a little upset. Take Jim Rogers, for instance. He supposedly wanted movie star teeth. So he went to his dentist in Singapore and had a new set put in and when they started falling out, well, can you really blame him for storming the office and making a scene? Read more »
On Monday, investors breathed a sigh of relief after the EU agreed to lend $125 billion to Spain’s banks. But billionaire investor Jim Rogers wasn’t relieved. He thinks the bailout is misguided – even the worst possible thing that could have happened. “Let them go bankrupt. Let them all go bankrupt!” he exclaimed on CNBC…Not only does he think it’s absurd, he’s all but certain the EU is making a bad situation worse. “The solution to too much debt is not more debt! This is most insane thing I’ve ever heard. It’s going to make the collapse, when it comes even worse – be careful. No, don’t be careful,” he added. “Be worried.” [CNBC]
In addition, Rogers went on to say he was long the U.S. dollar. “The only reason I’m long…is because everybody in the world, including me, has been terribly pessimistic. And whenever that happens you should take the other side of the trade. So I’m long the U.S. dollar, I have no confidence in it, its going to be a disaster, but as we speak I own probably more U.S. dollars then I’ve owned in years, and certainly more than any other currency.” [CNBC]
“It seems to me it’s physically, humanly impossible for the U.S. to ever pay off its debt ,” Rogers said. “They can roll it over and continue to play the charade, but the U.S. is bankrupt.” [CNBC]
Question: What are things Jim Rogers thinks sucks? Read more »
While there are many people who work on Wall Street for reasons that have nothing to do with money (trading gives them a thrill, they enjoy analyzing companies, they love the hours, it’s what they believe they were put on this earth to do, etc), there exists at least a handful of individuals who got into this whole thing for one reason and one reason only: the cash. To those people and more, investor Jim Rogers has some advice: become a farmer. Perhaps you’re a first, second or third year investment banking analyst whose timing (re: when you graduated college but also dating back to when you were conceived) could not have been worse, for whom the year 2006 and the associated bonuses are but a dream. Perhaps you’re a seasoned veteran making great money who’s wanted to try something new but couldn’t think of an industry that could beat your current pay. Perhaps you’re employed by a hedge fund whose performance YTD is not inspiring confidence in this year’s bonus. Perhaps you’re a banker who wants to be compensated in cash and not company stock paid out over 14 years. Doesn’t matter if you’ve never done manual labor in your life, if you don’t know the first thing about milking anything, if you’re emotionally scarred from the one time you rode a tractor. If you wanna make some real money, start working your contacts on the farm. Read more »
Related, the Rogers grandchildren may or may not want to request grandpa’s coin collection, rather than what he’s earmarked for them, should their opinions of China be more in line with those of Jim Chanos. Read more »
“I will be shorting US bonds,” Rogers told a conference in Edinburgh. “I would probably be doing it today if I weren’t here,” he said. Bonds in the US have been in a bull market for 30 years, Rogers said. “In my view that’s coming to an end…the bond bulll market is coming to an end. If any of you have bonds I would urge you to go home and sell them. If any of you are bond portfolio managers I would get another job,” he said. [CNBC]