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Oracle Corporation Message Board

  • ossobucco20l2 ossobucco20l2 Jul 18, 2013 1:09 PM Flag

    I'm afraid that this..

     

    has seen its high - GET OUT NOW!!!
    But please do your own DD - don't just trust me folks.

    Osso

    Sentiment: Strong Sell

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    • It’s on U.S. !
      These barrels are set to be shipped abroad – packed full of food bought with US welfareBought with welfare money, these food barrels are being sent overseas

      By KATE BRIQUELET and ISABEL VINCENT
      Last Updated: 4:02 AM, July 21, 2013
      Posted: 12:34 AM, July 21, 2013

      EXCLUSIVE

      Food stamps are paying for trans-Atlantic takeout — with New Yorkers using taxpayer-funded benefits to ship food to relatives in Jamaica, Haiti and the Dominican Republic.

      Welfare recipients are buying groceries with their Electronic Benefit Transfer (EBT) cards and packing them in giant barrels for the trip overseas, The Post found.

      The practice is so common that hundreds of 45- to 55-gallon cardboard and plastic barrels line the walls of supermarkets in almost every Caribbean corner of the city.

      The feds say the moveable feasts go against the intent of the $86 billion welfare program for impoverished Americans.
      BIN OVER THEIR HEADS: Pioneer Supermarket in Brooklyn sells plastic barrels that customers use to ship food to family members in the Caribbean.
      J.C. Rice
      BIN OVER THEIR HEADS: Pioneer Supermarket in Brooklyn sells plastic barrels that customers use to ship food to family members in the Caribbean.

      A spokeswoman for the US Department of Agriculture’s Food and Nutrition Service said welfare benefits are reserved for households that buy and prepare food together. She said states should intervene if people are caught shipping nonperishables abroad.

      Michael Tanner, a senior fellow at the Cato Institute, called it just another example of welfare abuse.

      “I don’t want food-stamp police to see what people do with their rice and beans, but it’s wrong,” Tanner told The Post. “The purpose of this program is to help Americans who don’t have enough to eat. This is not intended as a form of foreign aid.”

      The United States spent $522.7 million on foreign aid to the Caribbean last fiscal year, government data show.

      Still, New Yorkers say they ship the food because staples available in the States are superior and less costly than what their families can get abroad.

      “Everybody does it,” said a worker at an Associated Supermarket in Prospect Lefferts Gardens, Brooklyn. “They pay for it any way they can. A lot of people pay with EBT.”

      Customers pay cash for the barrels, usually about $40, and typically ship them filled with $500 to $2,000 worth of rice, beans, pasta, canned milk and sausages.

      Workers at the Pioneer Supermarket on Parkside Avenue and the Key Food on Flatbush Avenue confirmed the practice.

      They said food-stamp recipients typically take home their barrels and fill them gradually over time with food bought with EBT cards.

      When the tubs are full, the welfare users call a shipping company to pick them up and send them to the Caribbean for about $70. The shipments take about three weeks.

      Last week, a woman stuffed dozens of boxes of macaroni and evaporated milk into a barrel headed for her family in Kingston, Jamaica. She said she didn’t have welfare benefits and bought the food herself.

      “This is all worth more than $2,000,” she said. “I’ve been shopping since last December. You can help somebody else, someone who doesn’t live in this country.”

      A man helping her pack the barrel said: “We’re poor here, and they’re poor. But what we can get here is like luxury to them.”

    • Well, doing my own DD I see that the following companies have reported earnings and/or revenue misses within the past week:, IBM followed by SAP followed by MSFT (not to mention GOOG). In May CRM also missed it's numbers. Do you really think Oracle's poor revenues last Q was company-specific in light of that context? Oracle sold off nearly 10% after earnings while the revenues miss was only 1.5%. Do you think that sell-off was justified? Personally I think the sell-off, while understandable, was overdone relative to the miss.

      Read the ORCL articles here under 'stock headlines." If you recall sales force issues had been a problem in the past. But you'll see they have a new head of salesforce training--someone with ties to SAP and CRM. She didn't even want the job, but they convinced her to stay.

      And the other part of my DD tells me that possibly even this quarter, HW could turnaround and become a growth segment. That should provide some upside to the stock.

      Another reason there was a large sell-off was the reshuffling from Nasdaq to the NYSE. Oracle is not longer a member of the Nasdaq-100 among other indices, so funds would have to sell it off to reflect those changes. That selling pressure is over.

      Yesterday and Today's price action imo is due to the competitors in the sector reporting some poor numbers. Yesterday it was SAP and IBM. Today it's MSFT. IF you're surprised by that, you need to do more DD yourself.

      And I would like a rationale behind your statement. I gave your mine for as why I think you're wrong. Now I'll listen for more details from you. TIA.

 
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