What I'm reading this morning:
Hot Links for Weekend Reading
Let’s kick it off with something that’s both outrageous and smart, Johnny Debacle goes ape$hit on the business practices of a kid’s corner lemonade stand. Here’s a taste:
This Lemonade Stand was founded on a promise of fresh beverages to keep you cool on a hot day. Instead, management oversees an operation which merely adds hose water to powdered mix drinks at incorrect ratios.
Check out Long or Short Capital for the rest…I like these guys.
Reading Paul Kedrosky’s Infectious Greed daily is a sure way to go to sleep each night smarter than when you woke up that morning. Paul discusses the fact that check writing will probably not go away and takes on the concept of eschatology in general.
That Oompah Loompah from Countrywide who played a primary role in the mortgage meltdown may be looking at a fraud/ insider trading rap. He managed to amend his planned stock sale schedule to blow out of $130 million worth of his own company’s stock shortly before the real balance sheet ugliness reared it’s head…that amount was double what he sold in the prior year. I like Dealbreaker‘s take: Smile for the cameras, Angelo!
Cityfile has the scoop on the Victoria Gotti foreclosure. The bank that took the house in lieu of the $650k it was owed was none other than JPMorgan.
Finally, Prieur Du Plessis contributed a very funny joke/ allegory to Barry Ritholtz’s The Big Picture. It concerns a sum of money being paid and repaid around a town and asks whether or not anyone is “richer” for it at the end of the day.