Hope you bought puts yesterday. It’s down over 40% today.

The victims are the American People and the Republic itself.

What is the exchange offer?

The hearing loss lawsuits look very nasty. This is a stock I would flat avoid. Not sure if their bankruptcy strategy will work.

Exchange details:

·3M Company (3M) is offering to exchange shares of its common stock (symbol - MMM) for all shares of its recently split-off subsidiary, Garden SpinCo Corporation (Garden SpinCo), through a series of agreements and transactions (the Transactions).

·The number of shares of 3M common stock that will be accepted if the exchange offer is completed will depend on the final Exchange Ratio and the number of shares of 3M common stock tendered in the exchange offer.

·Immediately following the completion of the exchange offer, each common share of Garden SpinCo will be converted into the right to receive a number of shares of Neogen Corporation (Neogen) common stock (symbol - NEOG). Cash will be paid in lieu of any fractional shares.

·Accordingly, shares of Garden SpinCo common stock will not be distributed to participants in this exchange offer; instead, participants will receive shares of Neogen common stock upon completion of the Transactions.

·For each $100 in value of 3M common stock accepted for exchange, holders will receive:

¨a value* of approximately $107.53 of Garden SpinCo common stock subject to an upper limit** of 7.3515 shares of Garden SpinCo common stock (shares will not be issued) per share of 3M common stock and will be subject to proration.

¨If the upper limit is in effect, you will receive less than $107.53 of Garden SpinCo common stock for each $100 of 3M common stock tendered, and you could receive much less.

¨3M may accept only a portion of your tendered shares, except beneficial holders of 99 shares or less, in aggregate***, who tender all their shares (an odd-lot tender) will not be subject to proration. Please see the footnote below for the definition of aggregate.

·The indicative exchange ratios and per-share values (as well as the final exchange ratio once it has been determined) can be obtained at http://www.3mneogenexchange.com.

That should be a tax free exchange. I am with you on dividend payors.

I would have to do a lot of research to see if that exchange makes sense. 3M is a big wildcard right now.

The victims are the American People and the Republic itself.

The victims are the American People and the Republic itself.

The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.

So Denis, does Bed, Bath survive to retail another day, or will the latest news spell bankruptcy?

Where are we headed Deni$$$

Things the Fed said one year ago:

1. Rates will remain lower for longer

2. Unlikely to raise rates until 2024

3. We believe a recession is unlikely

4. Inflation is transitory and not a problem

5. Inflation should fall to 2% in 2022

Has there ever been a more wrong Fed?

Can I borrow some money from you?

I am starting to get decent rates from my savings accounts. I sure am happy to sit on lots of cash reserves. I was thinking of blindly buying $10k in a total stock market index per month in perpetuity to start dollar cash averaging my cash into this market.

The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.

I am starting to get decent rates from my savings accounts. I sure am happy to sit on lots of cash reserves. I was thinking of blindly buying $10k in a total stock market index per month in perpetuity to start dollar cash averaging my cash into this market.

OK, but can you Venmo me ten bucks so I can buy some socks?

OK, but can you Venmo me ten bucks so I can buy some socks?

You should if you have it available. Depending on fees, do $2500/week.

The rebound is a long way off.

The victims are the American People and the Republic itself.

Interest rates continue to rise

Home sales are tanking

Major retailers cutting orders

Recycling markets are dropping and commodities are stacking up


Where are we headed next Deni$

Interest rates continue to rise

Home sales are tanking

Major retailers cutting orders

Recycling markets are dropping and commodities are stacking up


Where are we headed next Deni$

I don’t think unemployment is going to stay low. Why would it?

Hell is coming to breakfast.

And I hope they like Pumpkin Spice bagels because that is all my son could find at the store.

The victims are the American People and the Republic itself.

I'd estimate that wages have increased 15% in the last 2 years. That would be across the board for new and current employees.

You can't hire someone in at $20/hr that is doing the same job as someone that has been there 3 years making $18.50. So now you have to raise their wages to keep the pay structure appropriate.

Big article in the WSJ on Friday about that point. Funny enough, the lower income folks have received larger wage increases than the top folks over the past two years.