Are you smarter than a 17 year old!

Have you heard of George Hotz?
If not, watch the news tonight because a 17 year old was the first to hack into iPhone. George Hotz has figured out how to bypass the AT&T and allowing anyone to use the iPhone on any network!
Here is the best part! As of November 2006, Digital Millennium Copyright Act has given people the right to unlock their phones. FYI, every standard cellular phone has some service provider software which restricts you from using the full potential of your cell phone!

Well done George!

Finding JTAG on the iPhonePublish

Let me save you $1000 Today!!!!!

In case you did not know! I tend to over analyze!!!!! I will slice and dice, rearrange data, re quantify until the data can be utilized!
Well, take a 17 month EMBA (approximately, we have a handful of Saturdays off but then we have a few lengthy seminars) and analyze that with the tuition of $67,000.00....
You know what that equals out to??????
You got it! Approximately, $1000 per Saturday or $125/hour!!!!!
With that said! I have to say there have been a few classes that worth the price!
If did not really hit until Monday, when I was going through my notes!
Both of my professors reminded me something that I thought was worth blogging.

My take away from Saturday's class was focused on....
How should people conduct business?
1) Accountability - Be accountable for your actions
2) Legally - Play by the rules
3) Ethically - Do onto others as you would done to you!
4) Morally - If you know it is not right, then why would you do it!

I wrote these words on the cover of my finance folder because I thought it belonged right on the cover vs having these words written down in my notes, where I would over look them.

I think we all know that we should conduct ourselves with these 4 principles but how often do we hear people breaking one of these principles.
I believe "GREED is GOOD!" -thank Gordon Gecko for that!
But temptation is our downfall!
Anyways, here is your $1000 savings for the day!
Do not spend all that savings in one place! ;-)

Where else would I want to be on a Saturday!!!!! Recognition to my Cohort

While most people are spending their summer with friends and families, I am spending my summer with my fantastic Cohort!
Everyone in my Cohort sacrificed their time with their friends and families to build a bond, share knowledge and learn not only from our lectures but from each other.
During the winter months, we would rush to school on Saturday mornings with a fresh cup of coffee to keep ourselves warm. In the Spring, we would walk into the classroom with an umbrella. Now in August, we joke how we hope it is raining every Saturday, so that we do not feel guilty for missing our day off!
The truth be told, my Saturday Executive MBA is a great experience because of the members of my Cohort. The professors are more like conductors of an orchestra and we are the musicians.
The diverse backgrounds add an abundant amount of color to each discussion.
Every discussion brings many personal and professional views from each member!
At times, some topics can be personal but everyone in the program respects everyone's opinion.
Currently, we are taking "Business Ethics,"and talk about a topic with variance in personal vs. professional beliefs.
As many of my Cohort members know, I am the devil's advocate in the program. If I can find one possible justification for a decision, I will push all professional buttons to make a case!
In our Ethics class (Prof. Blodgett is doing a great job on a very challenging topic), we were assigned to read "Five Past Midnight In Bhopal" (Great link to Marish's blog on Bhopal ) and I have some concern (not on the assignment) because this actually happened!!!!!! And this happens often!!! In other cases, it may not involve tens of thousands of people dying but what are people thinking!!! Where is ACCOUNTABILITY! Anyways, I rather be quiet (and it does not happen often)! As a good friend of my says "Don't kick the dog, if it sleeping!"
To discuss on our Financial Analysis class on Saturday afternoons, we are fortunate to have Prof. Ohara! The only problem, there is so much material to go over and every word is so important to the lecture! This is one of the classes where you wait until the end of class or the break to go to the bath room! If you are gone for 2 minutes, you better hope the person next to you is taking good notes!
Anyways, the summer 2 session has been interesting to say the least! While others are boating, picnicking, enjoying friends and families, I am fortunate to be spending my Saturday with a great group of people!

A Wild Friday on Wall Street! But can you spell R-E-C-E-S-S-I-O-N!

-RESUBMITTED TO A TYPO AND ADDED ADDITIONAL COMMENTS-

Since the September 11th event, the U.S. Federal Reserve Bank has infused the banks with three times in one day, totally 38.75B USD.
With concerns of INFLATION for the last 12 months (more like 18 months), we are now witnessing the U.S. economy looking at a potential recession!
Two factors that bring concern to a possible recession are consumer spending is decreasing and unemployment has hit 4.6%,

Real estate market taking a 10-15% correction in 2007 with an expected 10-15% correction for 2008 diminishes equitable availability for the consumer, thus creating stalemate between buyers and sellers. Sellers will not lower price to take a loss and buyers will not offer on inventory because of the cost of money. Cost of money or the interest rate applied to the note, which is feeling a credit crisis from poor lending standards. The result of poor lending standards have effected U.S. hedge funds, Asian Insurance Companies (who bought the bad loans) and Foreign Banks (ie: BNP Management).
The global economical crisis has many factors that need to be addressed: Just to name a few, poor standards for home lending (ie: 5/1 arms, no money down), real estate boom (exponential increase in property value) created easy second home loans (more debt), low Fed Fund Rates (effecting the Prime Rate, Bank home lending rate), credit card companies with zero percent interest for short term, more access to debt through good/excellent credit!!!!!!

With that said, the DOW is still up over 6% Y-T-D.
11 out of the last 15 days, the market has swung close to or over 100 points in one day!!!
I many have a high tolerance for risk, but 11 out 15 may not make me shake but it definitely makes me take a step back!

FYI, EXPECT 50 BASIS POINTS CUT!
THIS IS BEN BERNANKE'S FIRST REAL TEST

A Wild Friday on Wall Street [Market Snapshot]

Feel the Heat? And we are not talking about hot summer days of August!!!!

It is August and the dog days of summer are in full effect! But that does not mean the market place is taking a vacation!
Over the last three weeks we have heard about the market stability from Ben Bernanke and company!!!!
But the sub prime and credit crisis is creating market volatility!
The volatility is causing chaos in the market place and Fed Fund Futures are not indicating one cut by the Feds in Sept but possibly an immediate second cut before the year end!
We are witnessing a disconnect between the powers-that-be and the market place, with Mr. Ben Bernanke and Mr. Henry Paulson (U.S. Treasury Secretary) stating that we have a solid economic growth and the market performing with high volatility.
Without any relief from the Feds, with at least one rate cut for 6-9 months, with a possible second cut before the end of the year, I foresee a continence in market volatility, uncertain value of bonds (base on lending), and consumers being squeezed, then shrinking the middle class!
The pressure is on Mr. Ben Bernanke. Can he, demonstrate control and understanding of the economy by anticipating the needs of market place to keep the U.S. Economy and U.S. Consumer on a stable path to growth or will be entering a bear market with lack of confidence, higher rates and driving the United States into recession.
Since the Greenspan days, this is Mr. Ben Bernanke's first at bat in demonstrating his abilities in understanding the market place and implementing a monetary policy that will stabilize the U.S. Economy.


FT.com / World - Global equities plunge as liquidity fears grow

Largest Private Equity Fund: Blackstone Group closes 21.7B USD

And there you have it!
The Blackstone Group has out done the rest with the recent closing of their BCP V Fund of 21.7B USD.
With consumer and investor confidence in mixed waters, we have witnessed the latest investor confidence!
The Dow closing today up 190 points, after a week of high volatility is creating opportunities. The real question is , who is making the profits?
Finance 101, "Only The Bulls and The Bears make money in the market, it is the Pigs that get slaughtered!"

press_releases\8-8-2007.pdf (application/pdf Object)