This time just last year — on October 5th, 2007, the Dow Jones Industrial Average closed at a price of 14,066.01 on a volume of 29,190,300. To put things into perspective, today — October 3rd, 2008 — the Dow Jones Industrial Average opened at 10,483.96 on 264,270,000 average volume.

The next 12 months prove to be interesting for those who find themselves in the boundaries of what remains of Wall St.  The coming earnings seasons will expose with certainty, the fact that we are (and have been) in a recession. Between dwindling credit, falling consumer confidence and spending, and growing unemployment statistics, there are few reasons to expect that companies will turn anything like the profits to which Wall St. is accustomed. In fact, it will be intriguing to see what innovation and consolidation take place in order that many major players are able to survive.

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RPM cuts 2009 profit forecast(9:09 am ET) NEW YORK (MarketWatch) — RPM International Inc. (RPM: news, chart, profile) said Thursday that it lowered its 2009 earnings forecast to a range of $1.75 to $1.85 a share, compared to its previous guidance of about $1.85 a share. On average, analysts polled by FactSet Research were looking for earnings of $1.88 a share for the period. The company, which makes specialty coatings, sealants and industrial products, cited the weak economy and domestic-market conditions, financial-market volatility and raw-material cost pressure. Shares of RPM closed Wednesday at $19.37.

Westar Energy cuts earnings forecast(7:18 am ET) LONDON (MarketWatch) — Westar Energy Inc. (WR: news, chart, profile) said Thursday it’s cutting its third-quarter earnings forecast to a range of $1.35 to $1.45 a share from a range of $1.50 to $1.65 a share due to abnormally cool weather. The forecast excludes a one-time tax benefit recorded in the first quarter of the year. The company said cooling degree days for the third quarter were 14 percent below normal which it estimated will reduce earnings by about 10 cents per share.

Marriott profit drops 28%, warns 2009 profit to fall(6:41 am ET) LONDON (MarketWatch) — Marriott International (MAR: news, chart, profile) said third-quarter to Sept. 5 net income dropped 28% to $94 million, or 27 cents a share, and said next year’s profit will fall. Adjusted earnings from continuing operations rose 10% to 34 cents a share, and revenue rose 1% to $2.96 billion. Analysts polled by FactSet had expected earnings of 32 cents a share on revenue of $2.95 billion. Revenue per available room, a key metric in the hotels industry, rose 3.4%. For the fourth quarter, it expects systemwide RevPAR to fall 1% to 3% and for earnings between 44 cents and 50 cents a share, and for 2009, it expects earnings between $1.48 and $1.60 a share against projected 2008 earnings between $1.62 and $1.68. Analysts had expected 2008 earnings of $1.79 and 2009 earnings of $1.86.

Hartmarx swings to 3rd-period loss; reduces staff(3:58 am ET) TEL AVIV (MarketWatch) - Hartmarx Corp., (HMX: news, chart, profile) the Chicago apparel maker, swung to a third-quarter net loss on 8.3% lower revenue. For the quarter ended Aug. 31, the loss was $2.4 million, or 7 cents a share, compared with net income of $542,000, or 1 cent, in the year-earlier period. Average shares outstanding fell 4.3% to 35.1 million. Revenue fell to $124 million from $135.2 million. “Low consumer confidence; declines in discretionary apparel purchases, particularly by professional men; volatility in the financial-services sector, large retailers’ requests to defer advance order shipments, and the deteriorating creditworthiness of small specialty-store retailers all contributed to a very difficult quarter,” Chairman And Chief Executive Officer Homi B. Patel said in a statement. Hartmarx said it’s cutting costs and paring administrative staff, and the fourth quarter will reflect the closing of a sewing facility in Missouri, affecting about 150 employees.

CORRECT: Marks & Spencer comparable sales, margin decline(3:13 am ET) LONDON (MarketWatch) — U.K. department store and food retailer Marks & Spencer (UK:MKS: news, chart, profile) said Thursday that group sales in the 13 weeks to Sept. 27 rose 0.4%, while U.K. sales declined 1.6%. The group said comparable sales in the U.K. were down 6.1%, due to declines in both general merchandise and food sales. Online and international sales both grew strongly. Marks & Spencer added it expects its U.K. gross margin to fall around 1 percentage point for the year, due to a greater reliance on promotions. “Consumers are increasingly cautious about their budgets. We have responded by offering our customers better values and more promotions across the business,” the group said. (Corrects to show group sales rose 0.4%.) LaBranche sees net loss; adjusted net to exceed estimate(1:44 am ET) TEL AVIV (MarketWatch) — LaBranche & Co., (LAB: news, chart, profile) the New York specialist for exchange-listed securities, expects to report a third-quarter net loss of $4 million to $6.5 million, and adjusted net income of $12.5 million to $15 million. The net loss, LaBranche said late on Wednesday, reflects a $19.2 million loss from the decline in the estimated fair value of NYSE Group (NYX: news, chart, profile) shares that LaBranche holds. The net loss equals 7 cents to 11 cents a share. The adjusted net, which equals 20 cents to 24 cents a share, reflects in particular higher principal trading revenue at LAB’s specialist and market-making division. Three analysts surveyed by FactSet Research produced a consensus estimate of adjusted profit of 5 cents a share. The company said it reported the estimates in light of the amount by which its adjusted profit exceeds consensus analysts’ estimates and “in light of the adverse market conditions and expectations in the financial-services industry.” Micron sees losses deepen on inventory, pricing charges(4:10 pm ET) SAN FRANCISCO (MarketWatch) — Micron Technology Inc. (MU: news, chart, profile) said its net loss deepened during its fourth fiscal quarter thanks mostly to charges related to inventory write-downs and price adjustments. For the period ended Aug. 28, the maker of memory chips reported a net loss of $344 million, or 45 cents a share, compared to a loss of $158 million, or 21 cents a share, for the same period last year. Excluding certain charges, the company said it would have lost $209 million, or 27 cents a share, for the recent quarter. Revenue rose slightly to $1.45 billion. Analysts were expecting a loss of 23 cents a share on revenue of $1.55 billion, according to consensus estimates from FactSet Research. Pediatrix Medical warns on third, fourth quarter earnings(6:10 am ET) LONDON (MarketWatch) — Pediatrix Medical Group (PDX: news, chart, profile) issued a profit warning for the third and fourth quarters, citing a shift in reimbursement for patient care from commercial payors to government payors and same-unit neonatal intensive care unit patient volume at the lower end of a predicted drop between 1% and 4%. It now sees third-quarter earnings per share between 81 cents and 83 cents a share and said it can’t confirm its fourth-quarter view of 84 cents to 87 cents a share. Pediatrix had predicted third-quarter earnings of 84 cents a share. Citi CFO sees drop in Q3 net income, versus previous quarter(11:38 am ET) SAN FRANCISCO (MarketWatch) — Citigroup Inc. (C: news, chart, profile) Chief Financial Officer Gary Crittenden said on Monday that third-quarter net income will likely be lower than the profit the giant bank generated during the second quarter. The continued deterioration in consumer credit will have a “significant” impact on third-quarter results, Crittenden explained during a conference call with analysts. Still, third-quarter net income will be higher than during the first quarter of 2008, he noted. Total credit costs will be about $9.8 billion in the third quarter, up from the second quarter. Write-downs on exposures including mortgages and leveraged loans will probably be $1.5 billion, down from previous quarters. Write-downs on SIV assets will be higher at roughly $1.7 billion, Crittenden forecast. There will also be about $2 billion in losses related to credit card securitization, he added. Expenses will have fallen by about $1 billion during the third quarter, with the reduction of roughly 10,000 staff, the CFO said. Pilgrim’s Pride gets waiver from creditors, warns of loss(7:15 am ET) NEW YORK (MarketWatch) — Pilgrim’s Pride Corp. (PPC: news, chart, profile) said Monday it has obtained agreement with its creditors for temporarily relief through Oct. 28, via a waiver of the lenders’ fixed-charge coverage ratio covenant. The poultry producer said its lenders also agreed to continue to provide liquidity under these credit facilities during this same 30-day period. Pilgrim’s Pride said the waiver was granted after it told the lenders it expects to report “a significant loss” in the fourth quarter, ended Saturday, due to “high feed-ingredient costs, continued weak pricing and demand for breast meat, and the significant negative impact of hedged grain positions.” The company also said it had hired Lazard to advise it on refinancing and recapitalization opportunities. Cal-Maine profit slips as feed prices soar(6:38 am ET) LONDON (MarketWatch) — Egg producer Cal-Maine Foods Inc. (CALM: news, chart, profile) said Monday that its fiscal first-quarter net profit fell 38% to $11.1 million, or 47 cents a share, from $18 million, or 76 cents a share, a year earlier. Sales for the quarter rose 16% to $206.9 million. Sales were boosted by stronger egg prices and higher volumes. That was more than offset, however, by much higher feed costs, the company said.

A scarecrow is the name I’ve given to the majority of today’s Republicans — those who even though they are not neo-conservative, follow as blindly as they do the church, the Republican party talking-points.

I call them scarecrows because they are empty-headed and rely largely on fear.

It started as a simple discussion–

I said I thought people might be surprised at how well Sarah Palin will do this Thursday night against Joe Biden.  I qualified the statement, saying what I meant was, she had been portrayed so negatively, it was very likely her efforts would be seen as better than originally expected. The discussion/argument was with two co-workers of mine — an E-Mail Administrator and his managing Director.

At one point, the discussion turned to mis-statements made by Joe Biden — that he believed the television existed in the 20s or 30s and was used during an address about the Depression. That is just silly. Joe needs to go check the history books.

It was in response, that I pointed out that, Sarah Palin believes, that at one time, the Earth was inhabited by both dinosaurs and man — That she is a bible-beleiving christian — one who believes we should be discussing these same creationist ideas in public schools. I was told to find a quote. Find a link. Find a source. I was told she never said anything that would reflect those beliefs. I was sold I was helping to sensationalizing a media-made persona.

But I was told that because these two people hadn’t read any of the information below. Or if they had, they hadn’t reflected on it more than a very few moments.

http://www.time.com/time/printout/0,8816,1837536,00.html
http://en.wikipedia.org/wiki/Sarah_Palin#Early_life_and_education
http://en.wikipedia.org/wiki/Wasilla_Bible_Church
http://dwb.adn.com/news/politics/elections/story/8347904p-8243554c.html

Sarah Palin is a Bible-believing Christian.  Like all those that follow the Bible so closely, she thinks the Earth is less than 10,000 years old.  She thinks we were made through by and for some all-powerful, entirely undetectable creature called God.  These are her beliefs and those of any bible-believing Christian.

Its really not surprising all these people believe such nonsense, consider they also believe Sarah Palin is a viable candidate for Vice President. Consider, these people lack the healthy compulsion to question deeply the world they live in and worse, feel good about a solution that lacks any answers.  They prefer an unquestionable God.

There is another word for these people and its not stupid: its under-educated. These are people without the proper tools for analysis. And when you don’t know, or understand enough, about something to form any of your own meaningful analysis or tools for such an analysis, you are considered to be ignorant.  That is precisely what these people are; they do not READ and especially do not study any of the information needed to form meaningful opinions. They do not reflect on the importance or draw insight from discourse.

No, Sarah Palin is not any better, she’s one in the same — she’s as bad, in fact worse, as these same very morons willing to vote for her.  Apparently, she, and they, don’t understand the importance of reading…  that it eventually leads to growing an ability for parsing.

The educated can parse…  and as one of those people, I can parse of you Sarah… flatly…  that unlike those voting for you, who are under-educated, you’re a fucking idiot.

Many banks made mortgage loans with impossible terms or to unqualified borrowers. These banks then invested in securities backed by these now failing loans. It is this hidden potential for toxic holdings that reduces bank-to-bank confidence. And even a banks own self-confidence in consumer lending, if the bank itself relies on borrowing.

The reaction from the US government to this problem has been to provide liquidity to reinflate confidence. This has been unsuccessful, largely because, its dependent upon setting a floor on the US mortgage market and/or mortgage-backed securities market despite a natural state of correction in both. Price-fixing will not help lending between banks nor free-markets. Since inter-bank lending is immediately crucial to the economy, I present my own idea for solving this problem with our banking system.

Two important points; first, lending is both in the near-term costly and risky. Second, the current rash of government backstop-lending is no different with few exceptions (since the government controls the rules of the market).  This is the more important power of the government, not its ‘infinite’ supply funds, but its ability to control the rules. 

What if the Federal Reserve in coordination with the FDIC opens a new window.  This window will help banks lend to each other without lending them a thing. For a smartly set (perhaps percentage based) premium to the bank borrowing, the US government would — like a bank certifying a check — hold in escrow the amount of some bank-to-bank loan. Then, on at least these occasions, US banks could ensure transactions with each other through the help of their shared regulators and assistance providers.  Obviously, when and where these banks felt more comfortable, they could go back to working together directly.  The impact of the premium is disincentive to using the window.

This would be self-sustaining through premium collection and would not be harmful to the banking system or US tax-payer. I believe something as simple as this could help form an insurance for slowly winding down the operations of other windows at the Federal Reserve.  The windows could then help to support each other until varying crisis are resolved.

I never could have imagined things would happen as quickly as they did, certainly not using the information in front of me — isn’t that what they all say though? The talk now in Washington is, if we don’t accept Paulson’s $700B billion to $1.2 trillion bail-out plan and fast, we’ll not be able to avert serious systemic damage.

The fact is, we’ve already experienced and some of us truly suffered, serious systemic damage.  For instance, here’s a new piece of trivia for you to shop around the office: When was the last time the US had no major Investment banks? Or, what did the US credit market look like then? We care because, as of today, there are only specialty houses and the boutique investment bankers left.  Bear Stearns exploded back in March — it took JP Morgan Chase and $30B of Fed loans to put out the flames. Merill Lynch got bought by (shudder) Bank of America.  Both Goldman Sachs and Morgan Stanley were run off of Wall St. and toward the lender of last resort, the Fed, having converted to commercial banks.  And Lehman Brothers is odd man out with the Fed for whatever reason and goes essentially bankrupt.

Paulson’s plan will do nothing to bring back the vast financial innovation, command of respect, and pure flow of capital these companies brought to the face and body of the US economy. They are causalities of a lack of oversight in a system where you’re insolvent by association. Thats exactly why Paulson wants Congress to give him a permnant supply of rockets for his bazooka. But is that what America really needs: our tax dollars with Hank Paulson, running the World’s Biggest Hedgefund?

6) Google has long had interest in further advancing Javascript, as its a core technology for them.  This kind of advancement, further closes the gap created by the Web’s client-server design. It introduces an initial foundation for direct use of Google’s “cloud” more importantly.

5) Google employees must spend a large majority of their time in a browser because work is so closely tied to the Web — cutting out the middle-man will save future time and effort expenses. And Google is all about BIG simplicity.

4) Chrome better enables Google to produce metrics about Web use — in fact, one mandate of the Chrome development team is ensure Chrome will work best on popular sites. So, if you’re the paranoid type, make sure you enable Chrome’s Incognito mode.

3) Google has long been at war with Microsoft; Chrome might split browser market-share, reducing IE’s already straining grip due to Firefox growing popularity. This could help to diminish Microsoft on the Web.

2) Chrome’s innovative and will attract a community; users for its ease and feature rich landscape, developers for its obvious seamless integration with things like Google Gears and Google’s APIs (perhaps for its out-right sane behavior).

and the #1 reason) Why not play the Web from both sides before an effective way is developed to delever your 70+% hold on the Internet advertising market.

UPDATE 3:44PM EST – 

Here she is…  Chrome is fast.  It can’t login to Zimbra. But it obviously works with Wordpress just fine. 

No matter how many seasons you spend on the Internet, you can still be skull-smacked with surprise by the things you’ll come across.  Another summer is all but over, Rover.

Before the summer is gone entirely though kids, maybe you ought to get out your Winter coat, hoodie, hat and gloves — don’t forget your Painter’s breathing mask or random alien face too — and go see a concert!

The summer season is the best time to go places with friends, family, and especially to spend time outside with your pets. So, why not do it all in one go of it– soothe your savage beast with Caninus!

Caninus hails from a groundbreaking new genre of speed metal: PitBull Grindcore.  Thats right, whatever in the holy shit Grindcore is– this is specifically Pitbull Grindcore.  And as much as I’d like to be, no, I’m not joking– I couldn’t make this up, I’m not nearly that creative– the lead singer is one of those Pitbull — the other is his backup. The three human asshats play the music.

DMX must love these guys. Bahahahaa–

Where muh dawgs at, son!?!? – Where muh dawgs rap, son!!

The change has created a set of conditions that poise the US for a dangerous and likely disastrous economic retraction — leaving us the same old questions we had when we set-out. And yet these conditions will give birth to newer, deeper questions about the future (and who we are). For while it is arguable that this explosion of virtual wealth may have incited some social mobility or led to some amount of social progression, I fear both those advances however great, have also been as equally virtual.

Certain ultimate questions take shape upon the horizon: What social or cultural changes will lead Americans to the discipline needed to excel with the changes ahead? And: Is this generation ready for a world where it must pick between dinner or a movie?