Patrick's Rants

That bastion of Main Stream Liberal Media, Fox 5 Atlanta, is attacking Herman Cain’s character. What’s that? Fox News leans right? Oh. Well, they still did it. And by attacking I mean interviewed a woman who claims to have had an affair with Herman Cain for the past 13 years. I think he should keep running, don’t you?

Georgia Woman Claims 13-Year Affair with Herman Cain: MyFoxATLANTA.com

ABAT filed form 8-K, basically a supplemental or informational filing stating that NASDAQ is taking steps to delist ABAT.
The main reasons stated are:

• Listing Rule 5250(a). The notice states that the Company failed to provide information requested by NASDAQ, specifically cash confirmations from the banks holding the Company’s funds prepared in the presence of personnel employed by the Company’s independent audit firm.
• Listing Rule 5250(c)(1). The notice states that the Company failed to file its Quarterly Report on Form 10-Q for the period ended September 30, 2011.

ABAT does appear to have filed a notice that its September 30, 2011 10-Q would be late. And they have filed a number of late 10-Qs without apparent repercussion.

So what’s different this time? According the this recent letter to shareholders it is the short sellers, the lawyers and a complicit NASDAQ (for believing the articles on Seeking Alpha). The stress of asking for cash balances at the banks has caused top level defections, according to the Chairman, of the CFO and the Controller. Is Chinese culture so different from ours that the Chairman’s claims have merit? Could be. It could also be that there is no cash to verify – which would be bad for all shareholders. ABAT had to meet all the NASDAQ requirements for initial listing on the exchange. NASDAQ had the duty to verify the submitted information and listed ABAT on the exchange. Now the deadline of November 30 looms large.

This reinforces my personal rule that not all my account be tied up in a single stock.

I thought this was an April Fool’s story at first. I’m still not convinced that this “girl with no vagina gets pregnant” story is true. Hmm.

Trading has been halted on ABAT according to NASDAQ Trader.com for “more information requested”. I’m not sure where that leaves me and my 600 share position in ABAT. I’ve kept my teeth gritted through the ups and downs since April with the idea that I would “average down”. I’m sitting on about a 60% decline in the shares I own. I’m lucky and not so lucky with these shares. If ABAT never comes back to trade and becomes worthless I have no recover alternatives (unless previously threatened class action suits come to fruition) because the shares are in my IRA – meaning I have no taxable losses. Were these shares in a taxable account I would look to see them become worthless to offset other capital gains. The lucky part is that they are not yet considered worthless and since I can’t sell them I guess I’m stuck with them, for now.

Ohio repealed the law stripping state union employees (police, firefighters, teachers) of many of their rights to negotiate salaries and compensation. Ohio workers will retain their rights – for this year at least. They also voted to make health care mandates illegal – usurping federal law. This will head to the Supreme Court.

Mississippi decided that life does not legally begin at inception – probably because abortion would be illegal no matter what, tubal pregnancies that threaten the life of the mother could not be legally terminated – life saving surgery would subject the doctor to jail time – and then, what the heck happens to “left over” in vitro fertilized eggs? Don’t worry though, this issue will be on the ballot again again because the group behind it (not a Mississippi group) wants to challenge Roe v Wade – the so-called settled law of the land (at least that’s what conservative Supreme Court nominees say to the senate).

And here in Arizona, Russel, throw out the Mexicans, Pearce has been thrown out of office. SB1070 was written by another out of state political group trying to put issues on state ballots to get an eventual fight from the federal government.

Rick Santorum defended the lack of action on the part of Joe Paterno when told of sexual abuse on the part of one of his coaches.

Paterno reported the allegations to his boss, and Pennsylvania’s attorney general said it appeared that the coach had met his obligations under state law. Still, some critics have said that he should have reported the suspected abuse to police.

“I know Joe Paterno and I’ve known him for many years,” Santorum told reporters after visiting his campaign office in Bedford. “These are horrible, horrible gut-wrenching, gut-punching allegations of what went on there. All I can say is obviously heads rolled and there may be more heads to roll.”

But he would not call for Paterno’s ouster.

“The bottom line is that after all the years of what he’s done for that university and beyond that for so many others in this country, he deserves the opportunity to tell his side of the story,” Santorum said. “I’m not going to make any judgments until that happens and he certainly is owed that.”

Are they so backwards at Penn State and the state of Pennsylvania? In Arizona, if I were to witness a coach banging an underage boy in the school showers (or anywhere else for that matter) I can be personally prosecuted for not immediately reporting or causing a report to made to law enforcement. I can be prosecuted for just telling my boss and not making sure the next phone call my boss made was to the police. What kind of ass backwards hill billy law lets you just say, “hey Joe, your coach was really giving it to some little boy in the shower there. Well good night.”?

He followed the law by reporting it to a civilian boss? Well over a year ago? Well, he’s a game winning coach so let’s let him tell his side of the story. The side where he says, “I did what the law requires.” What does humanity require? That if you know a grown man is raping a little boy that you step in, you call the police and if you see it happening you taze that perverted bastard til his balls fall off.

These guys admitted they knew something was going on. They reported it. As the law requires.

Bought the Nov 17 calls back @ .18 on 11/07. Rolled forward to Dec 17 calls @ .80 on 11/08. If YHOO keeps rolling the way it is I could do this every month.

All right. The repugnican tea baggers threw a fit this year about raising the debt ceiling of the United States, causing Standard and Poor to downgrade US Treasuries due to “uncertainty” that Boehner likes to blame on Obama. Boehner’s uncertainty is whether the top 1% will continue to be able to rape the bottom 99% of US citizens. Mother Jones (decidedly left leaning) shows us just how far down most of us are when it comes to income disparity. The S&P uncertainty is whether or not the jackasses that we hired to get fat in Washington will get off their old dead tired assess and do something real.
We wanted the debt ceiling raised – remember when Repugbnicans said deficits don’t matter? – so that we didn’t default on social security recipients and worldwide investors in US Treasuries. Cry baby Boehner and his ilk wailed that they couldn’t fathom raising the debt limit even though Bush is the one who sent us racing toward the abyss. What do you think happens when you go to unfunded, illegal wars and cut taxes on the wealthy at the same time? If you said, run up the debt, you would be so right.

So Congress couldn’t get off their old dead asses to do something when the debt ceiling show down was on. They decided the only way they could raise the debt ceiling was to create a super committee that had the power to bring drastic cuts to the entire US budget. Repugnicans claimed to be tired of kicking the can down the road. So they kicked the can down the road by creating a super committee. Now John McCain has started to say that congress doesn’t have to listen to the super committee.

“If there is a failure on the part of the supercommittee, we will be amongst the first on the floor to nullify that provision. Congress is not bound by this. It’s something we passed. We can reverse it,” McCain, a defense hawk and the top Republican on the Armed Services Committee, told reporters Thursday at a news conference.

Really? Somebody pull the plug on this zombie. Stop pretending you fugging represent me. You don’t even want to listen to your own ideas now?

You know what this country needs? We need Bachmann, Palin and Trump to win, a flat 666 tax, congress to pray that god fill in their votes for them and for this country to completely go to hell. Let the Chinese move in, sell off the Western states to Mexico and Panama, pretend we don’t want illegal aliens in the country, bring back slavery (since that is what the framers of the constitution wanted).

Where is the common sense? Is McCain losing his mind? He doesn’t know how many homes he owns, he forgot who he works for, and he doesn’t care that he is arguing with himself over the debt super committee. Get out. You’ve been in congress too mufuggin long. You don’t represent me. Make way for someone with uncommon sense.