It’s the holiday season again, this weekend is the MO tax holiday for back-to-school season. Quote the MO state gov web site:
Section 144.049, RSMo, establishes a sales tax holiday during a three-day period beginning at 12:01 a.m. on the first Friday in August and ending at midnight on the Sunday following. Certain back-to-school purchases, such as clothing, school supplies, computers, and other items as defined by the statute, are exempt from sales tax for this time period only.
Cheseapeke Energy Hedging backfires
Last night CHK reported its 2Q 2008 earning, it incurred a big loss because of in 2Q the natural gas price went up much higher than the bets CHK put together. Here is another analysis by bullishbankers for CHK. Like many things else in life, you get the upside, and you can get the downside too. Hedging is a perfect example. One interesting thing I noticed from the earning report is in cash flow statement, CHK has one million dollars at the end of 1Q, and zero cash at the end of 2Q. They raised cash since then (again, read the bullishbankers analysis, and CHK own press release).
BTW, to my readers, always apply your independent thinking when reading other bloggers’ (including yours truely) work.