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Overnight Briefing & General Reality Check
November 4, 2009
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Equal time:
BILL CLINTON and GEORGE W BUSH have agreed to debate each other this coming February in New York City.
The two former presidents will be on the same stage as part of MSG Entertainment's third annual "Minds That Move The World" speakers series at Radio City Music Hall in midtown Manhattan on Feb 25, 2010.
According to a press release, they'll "debate topics ranging from the economy, to foreign policy, to the current administration."
The two men have actually shared a stage before, in Toronto last May as part a similar speakers series. The result was the kind of mutual admiration society with a very exclusive membership consisting only of those who have held the toughest job on the planet.
The two for presidents have always been cordial and on better-than-speaking terms for years.
No moderator has been set for the debate but tickets for the event go on sale Nov 16 through Ticketmaster or by calling (866) 858-0008. Prices start at $60 for the cheap seats and rise to $1,250 for the moneybags who want to join both presidents at a pre-debate reception for cocktails and picture-taking.
Money Talks:
You know all those late night syndicated radio spots, and cable news TV spots (like GORDON LIDDY on GLENN BECK) that you've heard and seen over the past several years urging you to buy gold?
Well, you should have listened.
Gold hit a new record high yesterday of just over $1,085-dollars-an-ounce after the International Monetary Fund announced it sold 200 tons of gold to India's central bank during the last half of October, totaling about $6.7-billion-dollars. A little perspective: Back in 2000, gold was as low as about $270-dollars-an-ounce. Do the math. That's about a 400-percent profit in nine years. (Pacelli)
It's a Small World, Dep't:
Another day, another Disneyland. This time the new Magic Kingdom will be located in Shanghai, China, with construction scheduled to start in January. It's not Disney's first theme park in China --they opened another in Hong Kong in September, 2005 which has attracted 17 million visitors since its opening.
The company could use a new profit center --Bloomberg.com reports profits at Disney's theme parks fell 19 percent in the third quarter.
Fast Food: Chocolate merger:
Kraft Foods is trying to buy the Cadbury Chocolate Company and yesterday picked up a cool $9 billion in bridge financing from a group of nine banks. That should be enough to backstop Kraft's $16.7 billion bid. Now it'll be up to the British company to approve the offer... if (you'll pardon the expression) it's sweet enough.
Today's police blotter:
Cops in Manatee, Florida, are baffled by a string of recent retail thefts.
The Bradenton Herald says the most recent case happened Friday. That's when thieves made off with over 4-thousand dollars worth of bras. The target of the theft was a local Victoria's Secret. In fact, the same store has been hit five times in the last four months alone. Plus, three incidents last year and two others before that.
Cops interviewed five employees but nobody saw anything. Police also say there are no security people or cameras in the store. In all, over 20-thousand dollars in underwear and lotions have been ripped off. (Still)
World Series update:
Trust the Wall Street Journal for the really important number crunching:
Since 1930, the Yankees --who would clinch their 27th World Series trophy with a win tonight-- have been a harbinger of average 5 percent GDP growth in years following a series victory.
Meanwhile, as documented by GARY WECKSELBLATT of the Bucks County Courier Times, when a team from Philadelphia wins the Series, we all suffer horribly.
Look what happened after the Phillies won the Series last year. The last time the Phils won? 1980, and in 1980, writes Weckselblatt, "interest rates were above 20 percent, and unemployment remained at high levels (about 7.5 percent) through the end of 1981."
But the last time Philadelphia won two straight World Series? The A's, in 1929-1930. And we all remember what happened then. (Maiman)
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