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Friday, June 11, 2010


1.  That oil spill in the Gulf is now speculated to have been from 1 million gallons/day to 1.25 million gallons/day, even more than what I guessed it to be on my 1May10 posting.  As such, I'll keep my estimate, and, as this is Day 53, the spill has been 53 million gallons, nearly five times more than the Exxon Valdez disaster.  However, the Discoverer Enterprise is supposedly recovering more than 0.5 million gallons a day, which has to be a royal embarrassment for BP, as, from the beginning, they were insisting that the total leak was only 0.2 million gallons/day.  Keep in mind that BP made $6.1 billion in January/February/March, so you can't feel too sorry for them.  On the other hand, The Economist reports BP has lost $62 billion in value since the crisis started.

2.  The World Cup has begun in South Africa, with South Africa, appropriately enough, scoring the first goal, ultimately, ending 1-1 against Mexico.  Uruguay and France played to a 0-0 tie.  Talk about boring!  In 1950 the American team, fresh off seven straight international match defeats where they lost by a combined score of 45-2, showed up in Brazil in what became known as THE MIRACLE ON GRASS.  A 500-1 underdog to win the cup, USA beat England (favored with Brazil to win it all) 1-0, the goal scored by a Haitian immigrant--Joe Gaetjens, being carried--who probably was not even eligible to play.  America subsequently never even qualified to play in the World Cup until 1990.   However, tomorrow, it is USA against England again, and starting will be Jozy Altidore, a true American of Haitian immigrants.  The Federation de Internationale de Football Association (FIFA) supposedly made $1.8 billion when Germany hosted in 2006.   FIFA rates Brazil #1, England #8 and USA #14.  South Africa is #83 and six teams are tied for #202, including American Samoa.  What is soccer?  I'm not sure, but it's just outside my radar screen next to hockey.

3.  Today is Kamehameha Day in Hawaii.  You can read the details about this state-county holiday in my 11July09 posting.  This is the 200th year anniversary of Hawaii unification by Kamehameha I.  The annual parade goes back to historical times and today will start at Ft. DeRussy in Waikiki and end at Iolani Palace.  Unthinkable today, this event was almost cancelled in 2003 for lack of financial support.  Even President Barack Obama went out of his way to proclaim today as King Kamehameha Day.

The Dow Jones Industrials edged up 39 to 10,211, while world markets were almost all up, except for Germany.  Gold rose $7/toz to $1227 and crude oil slipped below $74/barrel.


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