A story about a pathetic man's downfall [34 Felony Convictions]

[Pato del Muerto 52487]

[Ted Lange 16084]

George Costanza remembers 

[Bozo_Casanova 26437]

10 hours ago, Sawbonz said:

@Bozo_Casanova

 

[DigglerontheHoof 21183]

11 hours ago, Pato del Muerto said:

With the cheese on the "cool" side.  JFC

[Superhero 8828]

Several pages late to the conversation of Harris courting the Mormons…

Most of the Mormons I’ve met, and there are plenty in Southern California, are really nice, solid characters, but can’t bring themselves to vote for democrats because of the abortion issue.

The ultimate message the Harris campaign should be, “Fine, don’t vote for me, but don’t vote for that sorry excuse for a shitstain either.”

[bolverk 29656]

32 minutes ago, Superhero said:

Several pages late to the conversation of Harris courting the Mormons…

Most of the Mormons I’ve met, and there are plenty in Southern California, are really nice, solid characters, but can’t bring themselves to vote for democrats because of the abortion issue.

The ultimate message the Harris campaign should be, “Fine, don’t vote for me, but don’t vote for that sorry excuse for a shitstain either.”

That's funny. Abortion laws are more liberal (legal up to 18 weeks) in Morman Utah than in Fundagelical Texas.

[TheStoicPaisano 9922]

“Unique Wound Infused Red Color” LMAO.

We will soon need a dedicated “45 Hawking his Wares” thread.

[Sawbonz 27542]

4 minutes ago, TheStoicPaisano said:

“Unique Wound Infused Red Color” LMAO.

We will soon need a dedicated “45 Hawking his Wares” thread.

This is how you grift

[Goredho 17397]

30 minutes ago, TheStoicPaisano said:

“Unique Wound Infused Red Color” LMAO.

We will soon need a dedicated “45 Hawking his Wares” thread.

Guys, this is high art like the little girl in the red coat juxtaposed against the monochrome black and white of the holocaust in Schindler's List.

But if it was in a movie called Swindler's List.

[4th&Five 41519]

[tx 3 putt 76874]

 

[Ted Lange 16084]

42 minutes ago, tx 3 putt said:

 

 

 

Are these things a grift or more of a money laundering scheme?   A little of both for sure, but I think it is more of the latter.    Kinda like these crooks "writing" a shitty book, then getting some entity to buy 10,000 copies to get around FEC stuff.

[Francisco 2.0 32389]

Only lost $1.40 today.  

 

[TexasHooch 5122]

Large holder restrictions expired at the end of trading Thursday.  $DJT is tanking because he and his cronies are cashing out. 22 million shares were exchanged Friday and over 19 million today. 

The average daily volume in the past month is about 8 million shares.

 

[TexasHooch 5122]

We'll find out by the end of day tomorrow how much, if any, he sold on Friday. Wednesday will be interesting.

Edited September 23 by TexasHooch

[Brisketexan 105079]

8 minutes ago, TexasHooch said:

Large holder restrictions expired at the end of trading Thursday.  $DJT is tanking because he and his cronies are cashing out. 22 million shares were exchanged Friday and over 19 million today. 

The average daily volume in the past month is about 8 million shares.

 

And who is buying those from DJT/"legally" bribing him so they fucking own him?

[chainsaw 9859]

Stay poor, Liberals.

[Eskimohorn 5630]

Just wait til they get the results from the crop report

[C-Man 27196]

27 minutes ago, TexasHooch said:

Large holder restrictions expired at the end of trading Thursday.  $DJT is tanking because he and his cronies are cashing out. 22 million shares were exchanged Friday and over 19 million today. 

The average daily volume in the past month is about 8 million shares.

 

 

19 minutes ago, TexasHooch said:

We'll find out by the end of day tomorrow how much, if any, he sold on Friday. Wednesday will be interesting.

Are they really cashing out though? Trump had(s) 114.75M shares.

[TexasHooch 5122]

Well, it's not like they can market sell that many shares- it would drop to pennies immediately.  

[tx 3 putt 76874]

On 9/21/2024 at 10:09 PM, Pato del Muerto said:

 

 

[Macanudo 12975]

5 hours ago, tx 3 putt said:

 

 

Can his little hands hold the fry basket?

[jimmyjazz 45893]

I pretty much exclusively ran french fries my entire first year at Wendy's in high school.  There is zero chance that guy wouldn't give himself at least a 2nd degree burn within 30 minutes.  I'm not saying it's a job that requires a high IQ, but whatever it does require, he doesn't meet the standard.

[Tigersnake 670]

That pendejo will go to a McDonalds and drop one basket of fries in the grease and then leave. For weeks after, we will all have to listen to him go on and on about how he knows "Culinary" perhaps as much as Ray Kroc or Thomas Keller, and some people might say more. It was the perfect order of fries they said, all equal, none out of place how did he do it---and that fryer, I can tell you this, that fryer did not run on WIND...hot apple pies, who doesn't love a hot apple pie...

[DDD Dad 14327]

On 9/22/2024 at 8:31 AM, Bozo_Casanova said:

 

[HornOnTheBayou 8919]

1 hour ago, jimmyjazz said:

I pretty much exclusively ran french fries my entire first year at Wendy's in high school.  There is zero chance that guy wouldn't give himself at least a 2nd degree burn within 30 minutes.  I'm not saying it's a job that requires a high IQ, but whatever it does require, he doesn't meet the standard.

I'll give him a little bit more credit than that. In a year or two, I think he'll make assistant manager, and that's when the big bucks start rolling in.

[South Austin 52456]

Burger King alumnus here.  McDonald's can get fucked.

[Francisco 2.0 32389]

KFC alumnus here.  When they actually made the chicken gravy.

 

Also:

https://www.fastcompany.com/91195802/djt-stock-falls-new-low-could-trump-media-stock-plunge-spell-end-for-spacs

 

Quote

As the threat of insider sales continues to hang over investors, shares of Trump Media (Nasdaq:DJT) once again tumbled to new lows on Friday, falling another 10% Monday to hit $12.15 a share, its lowest point as a public company.

While the parent company of Donald Trump’s Truth Social platform does not appear to have made any filings with the Securities and Exchange Commission (SEC), informing regulators of any significant sales by shareholders who were recently restricted by lockup agreements, Trump Media has been falling steadily for more than a week. Shares of DJT stock have now lost roughly 30% of their value in just the past five days.

 

Quote

It was only six months ago that Trump Media had a valuation of $10 billion. Today, that stands at about $2.5 billion. The share price, meanwhile, has fallen more than 80% since its public debut via a special purpose acquisition company (SPAC).

Trump Media is occupying much of the media spotlight lately, due to its ties with the presidential candidate and the possibility that early investors including ARC Global, which sponsored the blank-check firm that took Trump Media public, and United Atlantic Ventures, an entity controlled by two former contestants on The Apprentice, could sell their holdings. (Trump, who owns 60% of the company, has also seen his lockup period expire but has said he does not plan to sell DJT stock.) But Trump Media is hardly the first SPAC to give investors heartburn.

 

Quote

Several well-known companies that utilized a SPAC to go public have run into problems. In 2021, DNA-testing service 23andMe merged with a SPAC to go public, with shares topping $16 that year. Shares now trade for 34 cents, having lost 97% of their value—and last week, the entirety of the company’s board resigned, saying the founder/CEO had failed to produce an “actionable” plan to take the company private after it struggled to make a profit.

BuzzFeed, which joined the Nasdaq in 2021 via a SPAC, is another example. Shares of the SPAC hovered near $40 up until the weeks before the merger with the media company was made official. Today, the stock trades for less than $3—and that number would be a lot worse if not for a 1-for-4 reverse stock split earlier this year that was necessary to prevent BuzzFeed from being delisted.

 

Spoiler

And, in the past week, BurgerFi, which went public via SPAC in 2020, announced plans to close 19 locations of its titular restaurants as well as Anthony’s Coal Fired Pizza. The company’s stock was delisted and no longer trades on the Nasdaq. 

Other notable SPACs that have seen their value vanish include WeWork and Virgin Orbit. In 2023, at least 21 companies that went public via SPAC filed for bankruptcy.

Is this the end of SPACs?
The steady decline of Trump Media’s DJT stock has put SPACs back in an uncomfortable spotlight. While they were wildly popular in 2020 and 2021, they’ve lost a lot of momentum due to high-profile bankruptcies and investors realizing the accompanying risks from a lack of due diligence typical of this alternate method of going public. Quite often, they don’t outweigh the reward, certainly in the long-term.

Earlier this year, the SEC adopted new rules that put more legal liability on both blank-check companies and their acquisition targets to disclose more about their projected earnings. 

Despite that extra scrutiny, though, SPACs are not yet totally dead. Some 39% of the total IPOs in 2024 (34 of 88) were via SPACs. That’s well off the pace of the early 2020s—in 2021, for example, 613 of 968 IPOs were via SPACs—but still a considerable percentage.

The SEC is hoping the new rules will protect both those investors and people who see a bandwagon and hop on.

“Just because a company uses an alternative method to go public does not mean that its investors are any less deserving of time-tested investor protections,” said SEC Chair Gary Gensler when the new rules were adopted. “[These changes] will help ensure that the rules for SPACs are substantially aligned with those of traditional IPOs, enhancing investor protection through three areas: disclosure, use of projections, and issuer obligations. Taken together, these steps will help protect investors.”

 

[South Austin 52456]

Quote

It was only six months ago that Trump Media had a valuation of $10 billion. Today, that stands at about $2.5 billion.

There's a reason why I didn't go into finance, but after operating at a loss for quite a while, how can this company even be valued at $2.5 billion.  Is it the office furniture?

[atomheartbevo 89630]

1 minute ago, South Austin said:

There's a reason why I didn't go into finance, but after operating at a loss for quite a while, how can this company even be valued at $2.5 billion.  Is it the office furniture?

We will find out soon enough - it’s already hanging below $12.

[immamac 42838]

1 minute ago, South Austin said:

There's a reason why I didn't go into finance, but after operating at a loss for quite a while, how can this company even be valued at $2.5 billion.  Is it the office furniture?

Because the stock market valuations aren't indicative of anything and shareholder sentiment is a bunch of nonsense. 

[SydneyCarton 48063]

3 minutes ago, South Austin said:

There's a reason why I didn't go into finance, but after operating at a loss for quite a while, how can this company even be valued at $2.5 billion.  Is it the office furniture?

Clearly you're ignoring the info/image someone posted elsewhere, but Trump's Brand name alone is worth 4 Billion. Just ask Deutsche Bank. 

[chainsaw 9859]

4 minutes ago, atomheartbevo said:

We will find out soon enough - it’s already hanging below $12.

Looks like more freefall today.

[Captainant 27639]

5 minutes ago, immamac said:

Because the stock market valuations aren't indicative of anything and shareholder sentiment is a bunch of nonsense. 

and yet, we allow our billionaires to take tax-free loans against those paper (and bullshit) asset valuations. Just because it's a buch of nonsense doesn't mean it can't still completely fuck up our society with a flood of extra free speech money that nobody else has access to.

[immamac 42838]

Just now, Captainant said:

and yet, we allow our billionaires to take tax-free loans against those paper (and bullshit) asset valuations. Just because it's a buch of nonsense doesn't mean it can't still completely fuck up our society with a flood of extra free speech money that nobody else has access to.

Its also funny because investor sentiment and the real economy have now become decoupled as well. We live in a fantasy land. 

[jimmyjazz 45893]

1 minute ago, chainsaw said:

Looks like more freefall today.

Hey, it's only down 1%.

Regarding the valuation of DJT:  I co-founded a company that IPO'd at a market cap of $0.4B.  By the time we were bought out by a backed competitor (with lesser technology) some 15 years later, we had yet to turn an annual profit.  "Valuation" often has little to do with performance.

[Captainant 27639]

1 minute ago, immamac said:

Its also funny because investor sentiment and the real economy have now become decoupled as well. We live in a fantasy land. 

Nevermind that depending on your income bracket the "economy" could mean either your local shithole town, or the NASDAQ. So when one is doing great and the other is languishing, it only intensifies the alienation and frustration and feelings of being left behind. Reality is what you make of it these days, facts are for socialist libtards.

[chainsaw 9859]

Just now, jimmyjazz said:

 "Valuation" often has little to do with performance.

this is why nobody has faith in the "free market"

1 minute ago, jimmyjazz said:

Hey, it's only down 1%.

Regarding the valuation of DJT:  I co-founded a company that IPO'd at a market cap of $0.4B.  By the time we were bought out by a backed competitor (with lesser technology) some 15 years later, we had yet to turn an annual profit.  "Valuation" often has little to do with performance.

People seem to have bought the dip. Now it's at 12.40

[Degenerate Gardner 4085]

8 hours ago, tx 3 putt said:

 

 

Better have the small fries pair up with a safety buddy so they can keep an eye on each other. This guy Epsteins.

[The Hot Dog Buffet 1291]

He's going to show up 20 minutes late and leave after being there 10 minutes, while the fries are still cooking. Then he will clock in for the full 30 minutes and expect his pay to cover his Big Mac, 10 McNuggets, large fries, and large diet coke.

[C-Man 27196]

Daily volume is at 12M (and climbing) already

[The Royal We 3067]

57 minutes ago, chainsaw said:

"People" seem to have bought the dip. Now it's at 12.40

[Native Horn 3499]

1 hour ago, South Austin said:

Burger King alumnus here.  McDonald's can get fucked.

Fuck yo mayonnaise burger. 🙃

[South Austin 52456]

3 minutes ago, Native Horn said:

Fuck yo mayonnaise burger. 🙃

We've always been clear that you can have it your way. Sorry you're too afraid to tell them to hold the mayo.

[Native Horn 3499]

2 minutes ago, South Austin said:

We've always been clear that you can have it your way. Sorry you're too afraid to tell them to hold the mayo.

nah, it's the cooking with actual flames that turned me off.  

[4th&Five 41519]

[RomaVicta 29902]

14 hours ago, tx 3 putt said:

 

 

Dateline: September 24, 2024: Room full of dangerous idiots------

Would-be dictator Donald Trump roused the crowd to hate the reporters in the arena using lies and making the absurd assertion that he would work the fry machine at a McDonalds

 

Dateline: October 5, 2024: Mar A Lago-------

Doctors say Former President Donald Trump's burns to his hands and stomach will heal normally but leave scars. The former president, down in the polls, fulfilled a promise to work the "French fry motor" at a McDonalds. While lifting his first basket from the extremely hot oil, Trump stuck his hand into the oil "to get the freshest fry." 

The would-be dictator then hurled the fryer into the oil causing a splash which sent oil onto his protruding stomach and ultimately started a fire in the restaurant. Secret Service rushed Trump out of the building while Trump raised his bloody little fist and shouted "fight!"

In the hospital, Trump has claimed that "Nobody has ever seen such a good fry man at McDonalds. Maybe the best ever they tell me. Way better than the nasty fake negro loser I'm running against."

The McDonalds burned to the ground. One worker was severly burned putting his own hand in the oil because Trump had done so.

Edited September 24 by RomaVicta

[South Austin 52456]

11 minutes ago, Native Horn said:

nah, it's the cooking with actual flames that turned me off.  

Did you tell your husband that before he bought his new grill?

[Brisketexan 105079]

1 hour ago, South Austin said:

There's a reason why I didn't go into finance, but after operating at a loss for quite a while, how can this company even be valued at $2.5 billion.  Is it the office furniture?

Because it's all fake and imaginary....see below.

1 hour ago, immamac said:

Because the stock market valuations aren't indicative of anything and shareholder sentiment is a bunch of nonsense. 

So much this.

1 hour ago, immamac said:

Its also funny because investor sentiment and the real economy have now become decoupled as well. We live in a fantasy land. 

And a dangerous amount of this.

Valuation in the stock market shouldn't be materially different than any other "business valuation."  I've litigated multiple cases where the value of a closely held enterprise was at issue.  Valuation is almost always done as some function of a revenue or earnings multiplier, or a discounted cash flow, something like that.  Yes, there can be some adder in there for "good will" or reasonable future potential....but it shouldn't be THE source of value, because that's just fucking imaginary bullshit.

So, not saying that every company on the stock exchange should be valued solely at a revenue multiplier or somesuch.....but when you have enterprises like DJT and Tesla where the massive valuation is completely decoupled from actual performance, it's fucking nonsense.

Yes, anything is worth what people will pay for it (so, DJT stock has been "worth" what people would pay -- today, that's apparently $12.40), but when you see such a decoupling from all performance and fundamentals, that highlights the "meme stock" vulnerability of any stock market.  If enough buyers are delusional, they can boost the share price of "We sell baggies of rancid shit, Inc., but nobody has yet bought a single baggie, and nobody is likely to do so" to $1,000 per share.  In that respect, stocks share the same vulnerability of tulip bulbs, beanie babies, crypto, etc.  Sure, it's worth $1,000 because enough of you say so....but if enough of you stop saying so, then it craters, and there are no fundamentals behind it as a backstop.  If you're holding DJT when it craters to $.02 per share, you aren't going to be bailed out by a liquidation of its assets, or a dividend based on its annual profits.  There's nothing there.  Zero.  It's all smoke and hocus pocus.

[bolverk 29656]

5 minutes ago, RomaVicta said:

Dateline: September 24, 2024: Room full of dangerous idiots------

Would-be dictator Donald Trump roused the crowd to hate the reporters in the arena using lies and making the absurd assertion that he would work the fry machine at a McDonalds

 

Dateline: October 5, 2024: Mar A Lago-------

Doctors say Former President Donald Trump's burns to his hands and stomach will heal normally but leave scars. The former president, down in the polls, fulfilled a promise to work the "French fry motor" at a McDonalds. While lifting his first basket from the extremely hot oil, Trump stuck his hand into oil "to get the freshest fry." 

The would-dictator then hurled the fryer into the oil causing a splash which sent oil on his protruding stomach and ultimately started a fire in the restaurant. Secret Service rushed Trump out of the building while Trump raised his bloody little fist and shouted "fight!"

In the hospital, Trump has claimed that "Nobody has ever seen such a good fry man at McDonalds. Maybe the best ever the tell me. Way better than the nasty fake negro loser I'm running against."

The McDonalds burned to the ground. One worker was severly burned putting his own hand in the oil because Trump had done so.

To conjure Donald J Trump working in fast food, all one needs is to recall Ignatius J Reilly working a hot dog stand.