Wednesday, January 17, 2007

The! Biggest! News! of! the! Day! - Not PPI Data, or Earnings from Intel and JP Morgan

Here are some of the contenders for today's biggest...news...of...the...day...

  • Details behind Intel's (INTC) earnings report...despite posting a better-than-expected EPS number, the stock is losing ground on concerns about gross margins...
  • The PPI report that showed overall producer prices increased 0.9 percent while the core rate rose 0.2 percent...both numbers were above expectations and stock futures dipped on the release...
  • Better-than-expected earnings from JP Morgan Chase (JPM)...
  • Upbeat comments from McDonald's Corp. (MCD)....
  • A claim that speculators are exacerbating volatility in oil as it is said that "Hedge funds, investment banks, mutual funds, and other financial institutions are magnifying small movements in prices—first as prices moved up last year, and now as they move back down"...
  • Optimism on medical-device stocks as Standard & Poor's says - "we believe the S&P Health Care Equipment group will begin to outperform the overall market over the longer term"...Medtronic (MDT) and Stryker (SYK) are singled out as winners...

While those are all stories worth watching, I think it is obviously clear that the biggest story is this - Obedient motorist crashes on satnav command...according to the article "A 46-year-old German motorist driving along a busy road suddenly veered to the left and ended up stuck on a railway track -- because his satellite navigation system told him to"...now if this sounds familiar it might be because we saw a story back in October that was titled - "Obedient driver follows orders, crashes car"...at the time my response was as follows:

    "apparently there are people who will ignore common sense (and what their eyes are telling them) in order to follow the commands of a small electronic device...uhg, it is only a matter of time before the human race is taken over by some sort of smart toaster..."
My faith in humanity's future is getting shakier, especially when I see the quote below from today's article...
    "Several German motorists have crashed their cars in recent months, later telling police they were only obeying orders from their satnavs"
I was shocked it happened once so I don't even know what to say now, other than - Come on people, can we at least pretend like we are trying?!?!?!?! I don't want my toaster to take over...

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