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Bezos is certainly NOT the world’s richest man.
Is the world’s richest man starting to get a little concerned that his $90 billion fortune in Amazon stock might just be fully valued? Well, judging by his SEC disclosures from last Friday, Bezos provided investors with roughly 1.1 billion reasons why the answer to that question may be a resounding ‘yes’.
As Bloomberg points out, Bezos sold a total of 1 million Amazon shares over the course of three days last week netting roughly $1.1 billion in proceeds. The sale represented just 1.3% of Bezos’ total stake in Amazon and leaves him with 16.4% of the company’s shares outstanding.
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According to online records, e-commerce giant Amazon, often seen as the “white whale of bitcoin payments, recently registered three cryptocurrency-related domain names: “amazoncryptocurrency.com,” “amazoncryptocurrencies.com,” and “amazonethereum.com.” The move was first reported by domain industry news website DomainNameWire.
Whois records link the domains to a subsidiary of Amazon.com, Amazon Technologies, which has in the past been linked to patent filings. At press time, all three domains are a dead end, but a domain the e-commerce giant registered in 2013 – amazonbitocoin.com – redirects to its main page, Amazon.com.
For the past several months, cities all across the country have been competing for the opportunity to host Amazon’s second headquarters which promises $5 billion in capital investment and 50,000 new jobs over a period of time. And now that the bids are in, we have the opportunity to review some of the staggering tax subsidies offered to one of Silicon Valley’s biggest companies.
New Jersey apparently ‘wins’ the prize for ‘biggest tax cuts’ after offering $7 billion in state and city tax credits, or roughly $140,000 per job promised by Amazon…which should be plenty to once again thrust Bezos to the top of the world’s richest list. Per Reuters:
Amazon.com announced plans on Thursday to open a second headquarters somewhere in North America that will house up to 50,000 employees and cost $5 billion to build and operate. The company is soliciting bids from local and state government leaders for the project, dubbed Amazon’s “HQ2,” and said it would prioritize metropolitan areas with more than one million people.
“We expect HQ2 to be a full equal to our Seattle headquarters,” Amazon’s CEO Jeff Bezos said. “Amazon HQ2 will bring billions of dollars in upfront and ongoing investments, and tens of thousands of high-paying jobs. We’re excited to find a second home.”
H/t reader squodgy:
“Bezos doesn’t care a toss.
Once he moves into the Logistics loop, he’ll automate, rationalise, re-structure, streamline, acquire, rationalise again and leave the hitherto working population in tatters.
My question is, as with Wal-Mart, if they keep on eliminating all levels of employment by cutting/automation, where will their customer base be?
Just as with the big Global Corps, who will buy their goods as the giants swallow up competition and rationalise, such as Buffets Kraft & Cadbury & Heinz merged.”
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As Amazon flirts with a $500 billion market cap, letting Jeff Bezos try on the title of world’s richest man on for size if only for a few hours, for Amazon’s competitors it’s “everything must go” day everyday, as the bad news in the retail sector continue to pile up with the latest Fitch report that the default rate for distressed retailers spiked again in July.
According to the rating agency, the trailing 12-month high-yield default rate among U.S. retailers rose to 2.9% in mid-July from 1.8% at the end of June, after J. Crew completed a $566 million distressed-debt exchange. Meanwhile, with the shale sector flooded with Wall Street’s easy money, the overall high-yield default rate tumbled to 1.9% in the same period from 2.2% at the end of June as $4.7 billion of defaulted debt – mostly in the energy sector – rolled out of the default universe.
A person claiming to be a former data center tech at Amazon implicates the company in working directly with the NSA and CIA to domestically spy on Americans.
Washington, D.C. – Amazon, and its owner Jeff Bezos, who recently surpassed Bill Gates to become the richest man in the world – and who has a $600 million dollar contract with the CIA – have come under fire after a purported whistleblower implicated the company of collusion with the CIA and NSA to spy on Americans.
Bezos, who also owns one of the main propaganda outlets in the United States, The Washington Post, is a controversial figure, who has deep ties to the national security apparatus. He is a former Bilderburger, who has enmeshed his corporations with the national security state.
In a note this morning from Deutsche Bank’s freight and logistics analyst Amit Mehrotra, he notes that the “WMT vs. AMZN battle is heating up” and points to a report by DV Velocity, according to which a well respected transportation industry consultant told attendees of a logistics conference that Walmart (WMT) is telling trucking companies that it will no longer do business with them if they continue moving goods for Amazon (AMZN).
This follows similar reports citing WMT’s “request” for its tech partners to stop using Amazon Web Services.
The news, while suggestive perhaps of Walmart’s growing desperation in its war with the retail juggernaut that is Amazon, has dramatic implications not only for the future of retail (and associated prices) but for one of the most important US industries: trucking, and the number of people it employes.
by Jon Rappoport
June 19, 2017
When Amazon boss and billionaire Jeff Bezos bought the Washington Post in 2013, he also had an ongoing $600 million contract to provide cloud computing services to the CIA. That meant the Washington Post, which already had a long history of cooperation with the CIA, renewed their wedding vows with the Agency and doubled down on the alliance.
By any reasonable standard of journalism, the Post should preface every article about the CIA, or article sourced from the CIA, with a conflict of interest admission: TAKE THIS PIECE WITH A FEW GIANT GRAINS OF SALT, BECAUSE OUR NEWSPAPER IS OWNED BY A MAN WHO HAS A HUGE CONTRACT TO PROVIDE SERVICES TO THE CIA.
Now Bezos and his company, Amazon, have bought Whole Foods for $13.7 billion. Whole Foods is the premier retailer of “natural” foods in America.
Shares of Whole Foods soar, but other grocery sellers get crushed.
H/t reader squodgy:
“Times change….but I’d be very suspicious.”
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A lot of people were probably thrilled today about Amazon’s latest announcement. The online retail giant has revealed that they are going to reduce the cost of Prime membership, which provides free shipping for more orders and unlimited streaming for many shows and movies. But it’s not just for anyone. The reduced rate will be reserved for low income households.