Wednesday, May 28, 2008

Message From Jimmy

I had just received my POW-MIA flag and put it up.Picking up the morning paper,I read that Staff Sergeant James K. Caniford was being interred in Arlington National Cemetery today.He was briefly my neighbor before he joined the Air Force.Jimmy was shot down while on a mission over Laos in 1972.For decades,he was listed as missing in action.Recently,they managed to locate and identify his remains.Was it a coincidence that I flew that flag for the first time on the day of his burial? I think that was a message from Jimmy:"I am home now,but don't forget the many others who aren't."

Cruise Missile Retrofitted

The Navy has retrofitted hundreds of cruise missiles with an upgrade that makes them a more precise and effective weapon.The AGM-84k Standoff Land Attack Missile-Expanded Response,or SLAM-ER,is launched against land or sea targets from F/A-18,P3C and S3B aircraft,as well as South Korea's F15K.The 1463 pound weapon has been utilized in Operation Iraqi Freedom and Operation Enduring Freedom in Afghanistan.It matches its Imaging Infrared seeker's target image with a reference photographic target image.The aim may be further refined by the pilot of the launching aircraft.SLAM-ERs have a range of over 150 nautical miles.They are manufactured by Boeing(BA).

Exelon Excels

Exelon(EXC) has been upgraded by two banks.Deutsche Bank(DB)has raised it to hold from buy,while Credit Suisse(CS) has raised it from neutral to outperform.

Wednesday, May 21, 2008

Essex Stands Ready

Since last Tuesday,the USS Essex(LHD 2) has been ready to assist the typhoon victims of Myanmar.She is about 60 nautical miles from the devastated Irrawaddy Delta,full of relief supplies and the helicopters to deliver them.She can produce 200,000 gallons of fresh water a day.Many of her crewmembers are veterans of the Tsunami and Bangladesh cyclone relief operations.Captain Brent Canavi commands the Essex and Rear Admiral Carol Pottenger is task force commander.The Myanmar leaders have so far rejected the aid,saying that it has strings attached.

Billionaire Buys

Billionaires have been buying stocks.Warren Buffett has increased his stakes in Kraft Foods(KFT),Burlington Northern(BNI) and Ingersoll Rand(IR).Nelson Pelz has bought a stake in Starbucks(SBUX).

Wednesday, May 14, 2008

Retired Admiral to Lead GD

Jay L. Johnson,a retired admiral who served as Chief of Naval Operations from 1996-2000,has been selected to head General Dynamics(GD),a major defense contractor.Mr.Johnson will become CEO on 1 July,2009.He has been with Dominion Virginia Power since 2000.General Dynamics builds ships and submarines for the Navy,as well as Gulfstream business jets and the Light Armored Vehicle for the Marine Corps.Mr.Johnson served two tours in Vietnam as a naval aviator and commanded a carrier battle group.He is 61.

Safety Stocks

InvesTech recommends these stocks for decent prices,strong balance sheets and solid growth:EnCana(ECA),Walgreens(WAG),PepsiCo(PEP).

Wednesday, May 7, 2008

Navy Strikes Somali Militants

At 3 AM on 1 May,a U.S. Navy ship fired at least four cruise missles into Somalia.Killed in the strike were Islamic militant Adenhashi Ayro,his brother,10 associates and 12 civilians.Mr.Ayro had trained in Afghanistan and lead the resistance against Somalia's transitional government.Mr.Ayro's group,the Al-Shebab insurgency,had desecrated the graves of Italians buried in Somalia,killed a BBC reporter and an Italian nun,attacked aid workers and protected the East Africa cell of Al Qaeda.In 1998,they targeted U.S. embassies in Kenya and Tanzania.


Bank of America(BAC) has upgraded Radio Shack(RSH) to buy from hold.JP Morgan Chase(JPM) has upgraded Marathon Oil(MRO) to overweight from neutral.