Freak Fest Friday

Well, we were off to a seemingly rational start to the markets today after the past three day correction. And then, all of a sudden, it's irrational exuberance, and we're off to the races with solid gains across the indices. So, WTF?!? Here's a string of "reasons" why the markets are so optimistic: Trade Gap has narrowed. Even though "The overall deficit remains an unhealthy 5.1 percent of GDP and will likely rise in May as petroleum imports rebound and imports from China continue to surge." Bond yields retreated a correction that seemed expected to occur after yesterday's run up to 5.25%. Oil dropped more than $2 on "demand concerns," "due to higher interest rates." (gimme a break). Should make for an interesting week come Monday.

More M&A's

Lots more on the front of mergers & acquisitions...Loews Corp. (LTR) in a $4 billion deal to buy Dominion gas (D). Rite Aid Corp. (RAD) agreed to a $3.9 billion cash and stock deal for Brooks and Eckerd stores. Palm Inc. (PALM) announced a selling of 25% interest to a private equity firm for $325 million that brings in once senior VP/GM of Apple's iPod unit as executive chairman in hopes of reviving the Palm brand and "perhaps develop a relationship with Apple" (oooo scintillating).
Rupert will be doing some shmoozing today to convince the family that controls Dow Jones & Co. (DJ) "that his $5 billion offer for the company won't undermine its flagship newspaper, The Wall Street Journal."
If only Sirius and XM had someone like Murdoch on their side. Seems like the NAB (National Association of Broadcasters) has been doing some shmoozing of their own of the Justice Department. At least Sirius has the League of Rural Voters on their side, woohoo. Although, some seem to think Sirius is "sucking a lot less."

Hewlett-Packard (HPQ) recently signed a new deal with NASA worth $5.6 billion to provide them with a wide range of hardware. "HP will provide NASA and other federal agencies with desktops, workstations and blade PCs with Linux and Unix capabilities. In addition, the Palo Alto, Calif., company also will provide servers, printers and other equipment."

How to be an non-Creative Artist

I've been reading about this guy for some time now and it drove me nuts since day 1. Check out this video of his portfolio of works that appear strikingly similar to already existing works of art. What makes it even more intolerable is the actions taken by his lawyers; "sending take-down notices to any site that put up the before and after shots." shenanigans!

The anti-Kiyosaki

Via the consumerist.com, here's a board game for kids a-la game of Life. Unlike Robert Kiyosaki's Cash Flow 101 board game that attempts to teach asset acquisition and generating cash flow, this game, "Twists and Turns," teaches your kids to accumulate credit debt. Earn the most "Life Points" (aka Reward Points) and proclaim yourself the winner!! yikes.