THE BILLIE JOE FALLOUT CONTINUES

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Posted on 24th January 2013 by Administrator in Economy |Politics |Social Issues

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The downward spiral of SSS’ favorite airline continues as the fallout from kicking Billie Joe Armstrong off a flight in 2011 for wearing saggy pants continues. I understand the CEO of Southwest has checked into the same rehabilitation center as Billie Joe, as they both try to regain their former stature. This was SSS’ reaction when told of the 49% drop in Southwest profits:

Southwest Airlines 4th-quarter profit falls 49%

By Tess Stynes

Southwest Airlines Co.’s (NYSE:LUV) fourth-quarter earnings fell 49% as the company booked lower fuel-hedging gains, higher operating expenses and a decline in passenger traffic.

The largest carrier of domestic U.S. passengers is being retooled from its roots as a pioneer discount airline, enlarged by the acquisition of AirTran Airways and with more connecting flights, in addition to plans for international service.

Chairman and Chief Executive Gary Kelly on Thursday said Southwest is on track with its plan to fully integrate AirTran by the end of next year.

The airline in October outlined plans that it hoped would halt the growth in costs by mid-2013, alongside more efforts to boost revenue despite a weak economic outlook that has encouraged airlines to launch fare sales during the fall.

Southwest on Thursday said that it expects passenger unit revenue growth of 2% to 3% for January.

“As we enter 2013, bookings and revenue trends, thus far, suggest a year-over-year improvement in January 2013 passenger unit revenues in the two to three percent range,” said Chairman and Chief Executive Gary Kelly. “While the effect of U.S. tax increases on the domestic economy remains uncertain, bookings for the remainder of first quarter, thus far, are strong.”

Southwest reported a profit of $78 million, or 11 cents a share, down from $152 million, or 20 cents a share, a year earlier. Excluding fuel-hedging impacts, integration-related charges and other items, adjusted earnings were unchanged at nine cents. Revenue increased 1.6% to $4.17 billion as freight revenue growth offset declines in passenger revenue and other revenue.

Analysts polled by Thomson Reuters most recently projected earnings of eight cents on revenue of $4.21 billion.

Operating expenses were up 3.1%.

Average passenger revenue per available seat mile declined 2%. Traffic declined 1.4%, while capacity eased 0.3%. Load factor, a measure of plane fullness, fell to 79.6% from 80.5%.

Shares closed Wednesday at $11.36 and were inactive premarket.

MAYBE THIS WILL CHEER SSS UP:

 

NEIL YOUNG TRIBUTE TO SSS

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Posted on 9th January 2013 by Administrator in Economy |Politics |Social Issues

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ROCKY MOUNTAIN HIGH

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Posted on 10th December 2012 by Administrator in Economy |Politics |Social Issues

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I bet Colorado gets a lot more spring break visits from college students in 2013. I understand SSS is taking a vacation from his vacation in Colorado. I wonder why?

Pot legalized in Colo. with gov’s proclamation

DENVER — Marijuana for recreational use became legal in Colorado Monday, when the governor took the procedural step of declaring the voter-approved change part of the state constitution.

Colorado became the second state after Washington to allow pot use without a doctor’s recommendation. Both states prohibit public use of the drug, and commercial sales in Colorado and Washington won’t be permitted until after regulations are written next year.

Hickenlooper, a Democrat, opposed the measure but had no veto power over the voter-approved amendment to the state constitution. He tweeted his declaration Monday and sent an executive order to reporters by email after the fact. That prevented a countdown to legalization as seen in Washington, where the law’s supporters gathered to smoke in public.

“Voters were loud and clear on Election Day,” Hickenlooper said in his statement. The law allowed him until Jan. 5 to declare marijuana legal.

Adults over 21 in Colorado may now possess up to an ounce of marijuana, or six plants. Public use and sale of the drug remain illegal.

Colorado and Washington officials both have asked the U.S. Department of Justice for guidance on the laws that conflict with federal drug law. So far the federal government has offered little guidance beyond stating that marijuana remains illegal and that the controlled Substances Act will be enforced. Of special concern for state regulators is how to protect state employees who violate federal drug law by complying with state marijuana laws.

Hickenlooper also announced a state task force Monday to help craft the marijuana regulations. The 24-member task force includes law enforcement, agriculture officials and marijuana advocates.

The governor admonished the task force not to ponder whether marijuana should be legal.

“The Task Force shall respect the will of the voters of Colorado and shall not engage in a debate of the merits of marijuana legalization,” the executive order read.

Hickenlooper told the task force to “work to reconcile Colorado and federal laws such that the new laws and regulations do not subject Colorado state and local governments and state and local government employees to prosecution by the federal government.”

Colorado’s marijuana measure, Amendment 64, was approved with 55 percent of the vote last month. One of the authors of Colorado’s pot amendment, Mason Tvert, called the declaration “truly historic.”

“We are certain that this will be a successful endeavor and Colorado will become a model for other states to follow,” Tvert said in a statement.

DO ALL CIA AGENTS CHEAT ON THEIR WIVES?

90 comments

Posted on 9th November 2012 by Administrator in Economy |Politics |Social Issues

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Someone wake SSS up from his nap. We need an answer.

Did Petreaus Betray Us (And If Not Us, His Wife… After The Election Of Course)

 
Tyler Durden's picture

Submitted by Tyler Durden on 11/09/2012 15:07 -0500

A mere few days after the re-election of our president, CIA Director David Petraeus announces his resignation:

  • *CIA DIRECTOR DAVID PETRAEUS RESIGNS
  • *PETRAEUS SAYS HE ASKED OBAMA TO BE ALLOWED TO RESIGN: NBC NEWS

The reason – an extra-marital affair…

  • *PETRAEUS SAYS HE ENGAGED IN AN EXTRAMARITAL AFFAIR: NBC NEWS 
  • *PETRAEUS ‘SUCH BEHAVIOR IS UNACCEPTABLE’ IN A LEADER: CNN

Of course, the defense is already known: Petreaus did not commit that affair… the government did it for him

Via AP:

 
 

David Petraeus has resigned as director of the CIA after admitting he had an extramarital affair.

 

According to his letter of resignation, Petraeus asked President Barack Obama on Thursday to allow him to resign, and on Friday the president accepted.

 

Petraeus said in a statement that he had shown “extremely poor judgment” in having an affair.

and From the Director of National Intelligence…

 
 

DNI STATEMENT ON THE RESIGNATION OF CIA DIRECTOR DAVID PETRAEUS

 

Today, CIA Director David Petraeus submitted his letter of resignation to the President. Dave’s decision to step down represents the loss of one of our nation’s most respected public servants. From his long, illustrious Army career to his leadership at the helm of CIA, Dave has redefined what it means to serve and sacrifice for one’s country.

 

Since he took over as Director in September of last year, he and I have worked together to tackle some of the most challenging issues faced by the Intelligence Community in more than a decade. Under his leadership, the CIA remained instrumental in providing our policy makers decision advantage through the best possible intelligence. I’m particularly thankful for Dave’s unwavering support and personal commitment to my efforts to lead the Intelligence Community and integrate our intelligence enterprise.

 

Whether he was in uniform leading our nation’s troops in Iraq and Afghanistan, or at CIA headquarters leading the effort to generate intelligence used to keep our nation safe, Dave inspired people who had the privilege of working with him.

 

I have spent more than five decades serving our country–in uniform and out–and of all the exceptional men and women I have worked with over the years, I can honestly say that Dave Petraeus stands out as one of our nation’s great patriots.

 

On behalf of the entire Intelligence Community, I thank Dave for his service, his support and his continued friendship.

 

James R. Clapper

WAR ON WEEDS

12 comments

Posted on 1st November 2012 by Administrator in Economy |Politics |Social Issues

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I think SSS just sliced one into the weeds after reading this story.

New FBI data reveal that the ‘War on Weeds’ has failed

| October 29th, 2012

 

1. More than 1.5 million people were arrested last year in the U.S. for drug offenses, which was one arrest every 21 seconds, according to new FBI data.

2. Of the 12.4 million total arrests last year, drug arrests (1,531,251) represented about one out of every eight arrests, or 12.34% of the total.

3. Of the 1.53 million drug arrests last year, 87.5% (1.34 million) were for possession and only 12.5% (191,000) were for the sale or manufacturing of drugs.

4. Nearly half of all drug arrests (49.5% or 758,000 arrests) were for possessing or selling “weeds,” which grow naturally in almost all U.S. states.  That means that police arrested somebody last year every 42 seconds for “weed” charges, and most of those arrests (87.5%) were for possessing “weeds.”

The source of those drug facts was from Law Enforcement Against Prohibition (LEAP), which issued a press release today, here’s an excerpt:

Just over one week before voters in three states will decide on ballot measures to legalize and regulate marijuana, the FBI has released a new report today showing that police in the U.S. arrest someone for marijuana every 42 seconds and that 87% of those arrests are for possession alone.

A group of police, judges and other law enforcement officials advocating for the legalization and regulation of marijuana and other drugs pointed to the figures showing more than 750,000 marijuana arrests in 2011 — more than 40 years after the start of the “war on drugs” — as evidence that this is a war that can never be won. With more than 1.5 million total drug arrests being reported in the U.S. in 2011, that’s one drug arrest every 21 seconds.

“Even excluding the costs involved for later trying and then imprisoning these people, taxpayers are spending between one and a half to three billion dollars a year just on the police and court time involved in making these arrests,” said Neill Franklin, a retired Baltimore narcotics cop who now heads the group Law Enforcement Against Prohibition (LEAP). “That’s a lot of money to spend for a practice that four decades of unsuccessful policies have proved does nothing to reduce the consumption of drugs. Three states have measures on the ballot that would take the first step in ending this failed war by legalizing, regulating and taxing marijuana. I hope they take this opportunity to guide the nation to a more sensible approach to drug use.”

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