26 March 2021

1) The U.S. Supreme Court, in a unanimous 8-0 ruling in a civil procedure case, has made corporations suffer a huge loss by making it easier to sue over defective and dangerous products. The basic thrust of the controversies is actually fairly simple in the case of Ford Motor Co. v. Montana Eighth Judicial District Court. The state court held that it had jurisdiction over Ford Motor Company in a product liability suit stemming from a car accident, since the accident happened in the state where suit was brought, and the victim was one of the state’s residents. Furthermore Ford did substantial business in the state with advertising, selling, and servicing the model of vehicle the suit claims is defective. Ford contends that jurisdiction is improper because the particular car involved in the crash was not sold in the state where Ford was sued, nor was it designed or manufactured there. The Supreme Court has essentially staked out two methods for bringing lawsuits against huge corporations: 1) general jurisdiction, and 2) specific jurisdiction. When minimum contacts are found to be sufficiently related to the cause of action, a given court may exercise jurisdiction over such claims.

2) Taiwan and the U.S. plan to deepen maritime security ties in view of China’s escalating ‘gray-zone’ threats. The Chinese government has made vast maritime claims in the South China Sea and also claims sovereignty over the Japanese controlled Senkaku Islands, which it calls Diaoyu. Until Beijing enacted its new coast guard law last month, the country relied on its myriad of armed fishing militia to harass the vessels of other regional claimants. However, China’s neighbors have raised concerns about the revised maritime police legislation, which allows coast guard ships to fire upon foreign vessels deemed to be intruding in Chinese territorial waters. Manila and Tokyo, both who are U.S. defense treaty allies with the U.S., have expressed concern at the potential consequences of the law.

3) Google’s systems infrastructure group calls their new Systems on Chip (SoC) the motherboard on a chip. The cloud computing giant, who is always in need of more computing power for its servers, until now relies on the motherboard as an integration point, where CPUs, networking, storage devices, custom accelerators and memory all come together. To gain higher performance and to use less power, workloads demand even deeper integration into the underlying hardware. With the SoC, the latency and bandwidth between different components can be orders of magnitude better, with reduced power and cost compared to traditional motherboards.

4) Stock market closings for – 25 MAR 21:

Dow Jones 32,619 up by 199.42
NASDAQ 12,978 up by 15.79
S&P 500 3,910 up by 20.38

10 Year Yields: up at 1.635

Oil: down at 61.84

10 July 2020

1) There are predictions of a relentless heat wave to blanket the U.S. for the next several weeks. This heat wave is just starting in the South, but is expected to move north and east with 100 degree plus temperatures across Ohio Valley and into the Mid-Atlantic areas. The National Weather Service forecast record high temperatures from Friday to Tuesday with as much as 75 record highs broken. But the question isn’t how high the temperatures will get, but for how long? It is expected temperatures during the multiple week span will have only a few days of normal temperatures. These high temperatures are caused by heat domes, sprawling areas of high pressure bringing hot and dry conditions for days. Such phenomena have economic impacts such as high electricity consumption.

2) Walmart is reportedly close to launching Walmart+ in July, a membership program that closely resembles Amazon Prime. The service cost $98 per year and includes same-day delivery, fuel discounts and other perks. Originally to open this last spring, it was delayed because of the pandemic. Walmart has nearly 3,300 store pickup locations and more than 1,850 stores offer same day grocery delivery.

3) The Supreme Court ruled that the eastern half of Oklahoma can be considered Native American territory. The case originated from a conviction of Jimcy McGirt, a Native American, who claims his state conviction in 1997 for rape, should be overturned because Oklahoma lacks jurisdiction, that the Indian reservation had not been properly terminated by the Congress. This would mean the federal government would have jurisdiction, so McGirt would be subject to federal criminal laws instead of Oklahoma. The ruling effects half of Oklahoma and 1.8 million residents. Oklahoma fears the decision will create civil, criminal and regulatory turmoil.

4) Stock market closings for – 9 JUL 20:

Dow 25,706.09 down 361.19
Nasdaq 10,547.75 up 55.25
S&P 500 3,152.05 down 17.89

10 Year Yield: down at 0.60%

Oil: up at $39.59