Who will be the real winners from Treasury nominee Steve Mnuchin? My gut tells me it won’t be Main Street. Trump needed to thread the needle with the pick, appeasing the millions of voters that can’t stand Wall Street. Mnuchin is a Goldman Sachs guy. That’s not exactly a pick for the Forgotten Man. I hope Mnuchin turns out to be a solid pick. But the fact that he made money investing in the ruins post 2008, and investing in Hollywood is not why they voted for Trump. Guys with special access were supposed to be the losers in this election. Guys on Harley-Davidsons didn’t vote for a Wall … [Read more...]
Archives for December 2016
Trump Promises to Revive the U.S. Coal Industry
Here the WSJ announces some surprisingly bright coal news: CSX Corp. reported improving demand trends for the current quarter in many of its markets, particularly for coal, which in recent years has seen shipment declines that have hit results across the railroad sector. The railroad operator’s shares, up 18% in the past month, rose 3% to $35.90 in recent trading. Stocks of coal-related companies have climbed since the election of Donald Trump, whose campaign included promises to revive the U.S. coal industry. Coal volume has stabilized from the third quarter and is essentially … [Read more...]
Amazon Innovates with Old Tech
Who knew big rigs were on the cutting edge of technology? The Wall Street Journal reports that Amazon is using trucks to move data from its clients' servers to the cloud servers its web services unit manages. The amount to data warehoused on company servers has grown so large that it could take up to 26 years to move an exabyte (1 billion gigabytes) of data to the cloud via the internet, but with trucks, the time can be reduced to 6 months. Transporting data from companies to cloud providers has become immensely time-consuming as corporate data storage has ballooned from terabytes to … [Read more...]
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