Posts Tagged ‘T. Boone Pickens’

Doh! Worst Predictions of 2008

December 26, 2008

My BusinessWeek colleague Peter Coy published his worst predictions of 2008–a year that probably embarrassed a lot of pundits and prognosticators.

Coy did not pull any punches. Rep. Barney Frank, President George W. Bush, investor T. Boone Pickens, scammer Bernard Madoff and even Federal reserve Chairman Ben Bernanke made the ignominous list.

Here are the top three:

1. “A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!” —Richard Band, editor, Profitable Investing Letter, Mar. 27, 2008

At the time of the prediction, the Dow Jones industrial average was at 12,300. By late December it was at 8,500.

2. AIG (AIG) “could have huge gains in the second quarter.” —Bijan Moazami, analyst, Friedman, Billings, Ramsey, May 9, 2008

AIG wound up losing $5 billion in that quarter and $25 billion in the next. It was taken over in September by the U.S. government, which will spend or lend $150 billion to keep it afloat.

3. “I think this is a case where Freddie Mac (FRE) and Fannie Mae (FNM) are fundamentally sound. They’re not in danger of going under…I think they are in good shape going forward.” —Barney Frank (D-Mass.), House Financial Services Committee chairman, July 14, 2008

Care to add anymore?

Celebrity Sightings at the DNC

August 28, 2008

Yesterday, I checked out the TechNet party at Rioja on Larimer Street, just a few blocks away from the Pepsi Center. It was jam packed and drew an A-list crowd.

I walked in and was happy to see my old co-conspirator Jonah Seiger, who runs his own interactive political consulting firm Connections Media LLC. Jonah introduced me to Chad Hurley, the co-founder of YouTube. Then I met Facebook chief privacy officer Chris Kelly, and bumped into Newark Mayor Cory Booker, who I came to know by writing a story about his ambitious plans to fight crime with cutting edge technology.

My friend Patrick Ward, who founded and runs the Denver-based tech pr firm 104 West Partners, said he saw Charlize Theron at Elway’s steak house. “The whole restaurant turned and looked at her when she walked in,” said Patrick.

In the afternoon, while getting a tour of the Pepsi Center, I saw ABC’s Jeff Greenfield and CBS’s Bob Schieffer, who was very short. Outside the media tent, Jim Lehrer pulled up in his gold cart while I was smoking a cigarette.

And today my BusinessWeek colleagues said T. Boone Pickens made an appearance at the Big Tent, talking about his alternative energy plans. It’s the latest sign of the increasing power of bloggers, who are making a very strong showing at this convention. In many ways, one of the big stories of the convention is the rise of the blogger.