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Bank Notes

Adam Rust's picture

Posted May 10, 2011

JP Morgan Won't Commit to Avoid Genocide: I'm trying to be careful in how I describe the vote put before shareholders that would require the company to make sure that its investments and loans do not enable genocide. Some of the companies (PetroChina) that JP Morgan participates in have reportedly contributed to genocide in Darfur. The resolution is presented by Investors Against Genocide. It is hard to imagine a less

appealing position to be in, which is why it should make anyone ask why Chase can't go along with the idea. Is it just because they didn't think of it themselves? Provided that the resolution can get only three or four percent of the voters to support it, the proposers of the resolution can bring it back. Thats begs the question: is it worth this kind of exposure?

Jackson Hewitt shares are delisted. On Monday, May 9th, Jackson Hewitt moved to the pink sheets. It's new ticker symbol is JHTX-PK. The shares opened at 19 cents. Today, Jackson Hewitt's market cap ($5.2 million) is only slightly greater that the debit card for prisoners (Continental Prison Systems) that Bank Talk has been following lately.

Aaron's lawsuit provokes more concerns about privacy. When two consumers complained that Aaron's had been tracking their use of their rented laptop, it made for some challenging press about the company. Aaron's rightfully pointed out that this was the action of a franchisee and not the parent company. Nonetheless, Aaron's consumers aren't the only ones that might have a reason to worry. For some time, IPOD users have had to accept that the company tracks their physical location. I wonder if that is the case for all cell phone users. Certainly, people engaged in criminal activity or in extra-marital affairs will want to take note: don't carry your cell phone to the wrong place at the wrong time! But criminals and cheats are the only ones. The law is very expansive in granting employers the legal space to track their employees.

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