Thank you. I think its time for the Postal Service to act as a private business has to act in similar situations of constantly losing money without relying upon the taxpayer. At some point weve got to change. Mr. Chairman, i thank you for your indulgence. Thank the gentleman. Will recognize the gentleman from california for five minutes. Postmaster brennan, last october the u. S. Postal Inspection Service issued a release about mail theft. And it said that these crimes are increasing and that mail theft from collection boxes and customers mailboxes is a big problem. It also says most cases of mail theft from centralized mailbox units involve counterfeit master keys. So, two questions for you. One is when you talk about right sizing, are you reducing u. S. Postal Inspection Service numbers at all . And does that have an effect on mail theft . And as you move to more and more cluster boxes, doesnt that increase theft because all you need is one master key and you have access to a whole l
Be able to focus on earn ings during earn ings season . Suffice it to say the cross currents of the fed play hamlet, to hike or not to hike, thats the question. Oil tried to find any footing and we seem to have still one more banking crisis but over there, not here, all combining to mass what turned into a deevent herbings season. Lets accept the fact that well have to listen to what individual kpaens say and when the market calms down which it does because this, too, shall pass we can figure out whats cheap based on what they told us. Thats what we have been doing with the charitable trust, filing away good stories, letting them come down to our levels where they are gifts and not of the trojan horse variety while we wait for boxes to be checked off to show us the landscape will at last be kinder to the bulls than the bears. With that in mind whats on tap for next week . After the remembrance of two dynamite president s, the guy on the one and the five, we get reports from hormel food
We begin with the stocks on the rebound this hour led by of all things the banks. Financials flying on word of a big shot jumping in. And buying his own stock. Jp morgan chief jamie dimon with 500,000 shares on the open market. It is a 26 million move that has us asking, and jamie, we trust. Steve, should we . I think its a great move. A lot of his employees get paid in stock so it really shows that theyre safe because that can really, you know, disenfranchise a company and plemployees. But yes. You should. The valuations are dirt cheap. I was talking to somebody about this yesterday. Its in the banks and wells only 2 of their book is in energy loans. Citi is less. Jpmorgan with other exposure and far up in the cap structure and theyre compellingly cheap. European banks are not quite as clean but very clean and not worried about them going out. Thats good. Josh brown, banks good enough for jamie dimon, good enough for you . Great to see somebody express confidence in their own stock. I
San francisco. Good morning to you. Another ugly week despite some solid gains today. Dows up 175. The nasdaq is now down almost 14 for the year. Rich wong of xcel telling usa today saying, i personally dont think the environment is anywhere as close to as difficult as 2008 or 2009 or 2001, but try telling that to people in tech, kara, especially given the losses in f. A. N. G. How is this playing out in your view, both from a sentiment standpoint and more practically . I think practically, people feel good about it, odd enough. In a lot of the places im going, a lot of the vcs are happy about it. A lot of people think there was too much money rushing in, especially from the hedge funds and the larger institutional shareholders that were shoving the prices up enormously. Ive been hearing this for a while from a lot of prominent vcs, they couldnt have been compete. A little like San Francisco real estate, it suddenly got crazy crazy, and then goes back to just normal crazy. So i think e
Growth food play. I wa to bearef. The stock is oa te around its all time high selling 30 times eaings. Rmel made very srt quisitions incding the applegatfarms that rlly paed out. We als we ao re abooetis. T just because it is the premier animal hlth coan we are ia range me where pele need toonsider t justat a comnyoes h i does butlso who ownshe shares iit. Right now zoetis is in a group of sl rs and srt sellers bag it down because a recent look at thsharehder base shows pershing sque capil owns 8. 4 ofhe company with 41million shares and some are concerned the fund which is real under perfoed may have sell the ock rder to raise capital. We have node thats true. Ave no idea if the manag pshing square has to be a youd cfessions of a street addt its anrd practice for hedge funds t shoot at you wn und. That happened to me. I think thats why the sto is a pawn in this b game and is under performing en ough its business is perform ing amazingly. Another factor tconsider yeerday pepsicrepoed a