Death Star Economics



Of lawsuits against Greece and reinventing the world

Hedge funds are trying to sue Greece in the European Court of Human Rights Court for violation of bondholder rights, i.e. forcing all [private] bondholders to take losses on their investments in Greek debt through a collective action clause (only exemption: the ECB, which presumably holds something like €50bn worth of bonds). read article

Greek debt swap talks continue, thank God Zero Hedge provides a flowchart for this whole crisis business: view chart

People say if you want to sue someone, sue them in London. But as it turns out Germans are more efficient [and cheaper] (So eine Ueberraschung!) and so everybody involved with smartphone patents, Apple, Motorola or Samsung, as moved to Mannheim, Germany, for the time being. read article

Meanwhile, Apple pursued its favorite past-time of “reinventing” the world as we know it. This time: books. Heartbroken about the hostility towards real books, I have to admit, it’s cheaper. read article

Otherwise, Google missed its earnings targets for the first time. Not to worry, the company still grew by a whole 6%… that just wasn’t as much as expected. Earnings per share ended up at $9.50 instead of $10.49, leaving net revenue at $8.13bn instead of $8.41bn. Also, Google released figures on Google+ usage, saying that of 90 million users 60% sign in each and every day, while 80% sign in at least once a week. I don’t remember the last time I was on Google+. But that’s just me. read article

So long.

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