Parisian Family Office, CEO. Began Wall Street, 1982. Founded investment firm, CHIPPEWA PARTNERS, Native American Advisors. Active Trader. White Earth Chippewa Tribal member. Was NYSE/FINRA arb. Conservative, raised on Great Plains reservations. Pureblood, clot-shot free. In a world elevated on a dopamine binge, this is his take! Written from MT Ghost Ranch on the Yellowstone River, TN farm Pamelot or San Jose del Cabo, Mexico, CASA TULE'. Always been, will always be, an optimist.
Saturday, July 29, 2006
Her spirit, her style, her passion will always be remembered.
She was a "doer" not a "sitter". She was attracted to life.
She was a wonderful wife, mother, grandmother and friend to so many.
God bless the soul of Betty Dorene Parisian.
All are going to be an immense crisis someday. When, who knows? They aren't important enough today to do anything. My bitch isn't with how much tax we pay. My beef is with how we pay it and on what. The savings rate in our country is going the way of the passenger pigeon. We need to change our tax structure, which penalizes savings and investment. If you're lucky enough to have a job, you pay taxes on the money you earn. If you then put some money away for a rainy day or invest it with Chippewa Partners you are taxed again on the dividends and interest. And when we sell your investment with a profit you pay taxes a third time. The rest of the world doesn't do it that way. They encourage savings and investment. They tax consumption. We do just the opposite. We encourage consumption and we tax savings. We need a flat tax now more than ever.
We should also change our election dates from November to April 15th. Politicians should be selected at the same time we pay them.
Check out www.fairtax.org ...........Boortz has the right idea going.
It is not the Marxists or Leninists or Communists against capitalists.
It is the revival of Islam versus Christianity. The crusades are here and now.
The Soviets won a war and lost 25 million people doing it against Hitler.
Terror in all forms needs to be crushed in its infancy.
It's great to see Harry back in business with his son, Peter, after shutting the doors in 2003 after the death of his wife.
His presence in the joint makes the world of Wall Street a better place.
After taking apart Yukos he has now made it a crime to slander the government.
Perhaps the Unites States should't be dismantling our Cold War infrastructure.
Now it's slander making for a crime. Not too long ago, dissidents faced death for being a Christian, not wearing a veil or not supporting an evil dictator.
Who says history doesn't repeat itself?
Friday, July 28, 2006
Millions lost in tribal investments
By Donna Hales
Phoenix Staff Writer
TAHLEQUAH — The Cherokees are losing millions of dollars on businesses investments not connected with gaming enterprises, councilors were told Thursday.
Gaming profits have financed the failed or failing ventures, records show. Cherokee Connect, one of those businesses has lost $2 million, said Callie Catcher, CEO of Cherokee Nations Businesses and tribal treasurer.
Cherokee Nation Industries, Inc. officials confirmed $2.5 million used to purchase what is now 49 percent of Global Energy Group stock from a group of investors is as good as gone. Related expenses and investments with the same men pushed related losses to more than $6.3 million, said CNI’s new Chief Financial Officer Tom Reynolds.
“This is an investment I would never have come close to making,” Reynolds said in an Executive and Finance committee meeting of the Cherokee Nation Council on Thursday. “It’s ridiculous. I wouldn’t put a dime in that thing. I would have put it in the trash can. And then we loaned them $500,000 to buy some lighting company — and that’s now a $1 million (investment).”
Reynolds was praised for being so candid.
Taylor Keen, who was recently sworn in as a Councilor-at-large, said he was “concerned for (Reynolds’) professional health.
“I’m going to watch carefully what happens to him,” Keen said.
The federal Securities and Exchange Commission is investigating allegations of fraud in connection with the GEG purchase.
“I’m absolutely appalled at what I’ve seen from everything from lack of due diligence to looking at GEG and recognizing there is no payroll, a large amount of debt and a huge amount of good will.”
Keen said he was “appalled at how (the GEG purchase) happened.
CNI Chief Executive Officer Jim Majewski, who touted the stock purchase, earlier was placed on administrative leave with pay. An advisor to Cherokee Nation Businesses, Benjamin “Benny” Dixon, resigned rather than be put on administrative leave, CNI officials said Thursday.
Majewski, Dixon and Cherokee Chief Chad Smith are being sued in federal court by seven of the tribe’s 17 Councilors over the GEG sale.
Reynolds informed councilors that under CNI bylaws, CNI will have to hire attorneys to represent Dixon and Majewski in the federal suit.
Cherokee Nation Attorney General Dianne Hammonds, who also serves as the administration’s general counsel, asked the tribal court Friday to rule the seven Councilors who filed the federal suit were involved in a conspiracy to spend the Cherokee people’s money because they had no standing to file the suit.
That could mean the seven Councilors would have to pay their legal fees.
Baker made a motion Thursday to empower the council’s attorney to recoup the Cherokee people’s money using any legal means necessary.
“We need to try and recoup some of this money and if it means punishing the individuals who took us on this ride — then that’s what it means,” Baker said. “We’re the keepers of the purse — we’ve got the responsibility to the Cherokee people.”
Nine of the 15 councilors present voted against Bill Baker’s motion: Cara Cowan, Bill Johnson, Jackie Bob Martin, Phyllis Yargee, Meredith Frailey, Don Garvin, Audra Connor, Jack Baker and Taylor Keen.
Reynolds confirmed the $2.5 million initial investment in GEG came from line of credit guaranteed by the Bureau of Indian Affairs that was not intended to be used as venture capital.
Bill Baker asked Thursday what would happen to CNI, which employs more than 160 people, if that guaranty is recalled.
“I’m afraid we wouldn’t be solvent,” Reynolds said.
CNI purchased Global Energy before Reynolds, a former CFO for Hudson Foods, started working for CNI.
Councilors pressed Reynolds hard Thursday for his opinion of the GEG purchase.
“Just look at that company’s financials,” he said.
When asked if there was any hope of survival, Reynolds said: “To be honest with you, I think they’re close to bankrupt.”
It would take a huge amount of capital for installation and marketing and developing the product line, Reynolds said.
“It’s going to require a third party to come in and buy out our shares,” Reynolds said.
CNI will be taking from $3 million to $5 million in write-offs, Reynolds told Councilors.
GEG related losses include a $1 million investment in Cherokee Idling Solutions, Inc., which is owned by the same investors who own the majority of the stock in GEG, Reynolds confirmed.
“I don’t see us getting any money back there,” he said.
Another similar investment includes a lighting company that is losing money.
Reynolds assured Councilors CNI funneling money to GEG and related companies has ceased.
Reach Donna Hales at 684-2923 or firstname.lastname@example.org.
Originally published July 28, 2006
Thursday, July 27, 2006
Wednesday, July 26, 2006
The National Indian Gaming Association reported the above amount of gaming revenues for 2005 the other day. Another year of double-digit growth. Nice.
I wonder where all the money is going? In our travels across Indian Country we don't see Native people prospering with double-digit growth of incomes or net-worths or portfolio balances.
My real wish would be for gaming tribes to report profits. Those are never disclosed.
Profits would show too much money for few tribes and would make it hard to stomach for so many other tribes and individuals.
Tuesday, July 25, 2006
Thursday, July 20, 2006
Dan wrote, "Last year, Merrill Lynch & Co. Inc. and Morgan Stanley, both of New York, stopped paying brokers for any kind of business done in households with investible assets of less than $50,000 and $35,000, respectively."
The reason these firms ditch the small fry is because they are unable to make them any. They can't "turn" the assets either daily, weekly, quarterly or annually to generate enough in fees and commissions to warrant "servicing" them, whatever brokers do to service clients. Usually brokers call to sell or "switch" investment products that generate income for the broker.
At Chippewa Partners we don't have minimums. Never have, never will.
We don't discriminate between those who have and those who want to have.
Native America had it right for hundreds of years. Only after the last tree has been cut down, only after the last river has been poisoned, only after the last fish has been caught, only then, will we find that money can not be consumed. Recognize the bottom line should not be measured in dollars and cents.
At Chippewa Partners we don’t have a minimum account size because who’s a guy like Dean Parisian that grew up on the poorest county in America, the Pine Ridge Indian Reservation too good to tell someone they’re too small to get world-class investment help?
Wednesday, July 19, 2006
And maybe the days of easy money are over. The Fed has put a damper on real estate speculators and slowed down the homebuilders. Foreclosure rates will be moving up if interest rates stay at current levels. Woe onto those with adjustable mortgages.
Now for the question of the day. It has to do with the American consumer.
Tell me, honestly, how on earth does the average American credit card holder have $8,000 of credit card debt? When, if ever, will our savings rate climb?
We need the consumer to look in the mirror. And stop the madness.
Tuesday, July 18, 2006
Over the last few years some people got 100% financing for their homes. Mortgage default rates will be rising very soon. As housing prices fall more people will be under water. Foreclosures will create a tough environment for builders of new homes. From my perch driving by the METROBROKERS.com signage on the number of homes for sale in greater Atlanta I see it has swollen from 76,000 to 91,000 over the past couple of months.
Hedge funds are not and probably should not be for Mom n Pop in America.
Wall Street wants Mom n Pop to have access to the hedgies so they can "hide" the big commissions and fees. Just ask any broker honest enough to tell you the truth.
LTCM was a hedge fund that engaged in many pure arbitrage and highly mean-reverting speculative arbitrages. Most of their positions were in the bond and swaps market, where it is possible to create highly leveraged positions. Almost eight years ago this week, LTCM had approximately 125 billion dollars in assets from an equity capital base of only 4.1 billion dollars. The gross notional amounts of its contracts on futures exchanges exceeded 500 billion dollars, it swaps contracts exceeded 750 billion dollars, and its options and other OTC derivatives exceeded 150 billion dollars. Of course, the risks inherent in most of these positions substantially offset each other.
I believe there is carnage in the hedge fund universe. I think the gunslingers have shot themselves. I can almost smell the blood.
Just wait and see.
Monday, July 17, 2006
Friday, July 14, 2006
Neither Israel or Lebanon produce crude.
Seems to be a wild convergence of issue's to put fear into the markets.
I love the media with all the buzz words to describe market participant activity.
Fear and greed. Buyers and sellers. Pain and pleasure.
Human nature, at last check, hasn't changed in 5,000 years.
I say we are higher by year-end and am voting that way.
Long and strong at Chippewa Partners.
Must be hard for the locals to afford adjacent property. Very hard.
That would be an expensive cow-calf operation to say the least.
And speaking of Aspen, George Zachar said last week that for the first time in local memory (and yes, he checked several sources), the private jets were parked in 3 full rows at the local airfield (exceeding the old high water mark of two), with smaller aircraft literally parked under the wings of the bigger planes.
The dozens of commercial flights were solidly booked.
Folks looking to join the ongoing party might be interested in a new house on the market: "Prince Bandar bin Sultan, the former Saudi Arabian ambassador to the United States, is selling his palatial home in Starwood Ranch for $135 million in what is likely the most expensive single-family residence listed in the nation."
Only in America. Wow!
Thursday, July 13, 2006
Removed from his perch this week by the U.S. Court of Appeals for the District of Columbia Circuit saying that he appeared to have lost his objectivity.
When the United States Government loses billions and billions of dollars of money that belonged to U.S. citizens of Native American heritage of which the Government had Trust responsibility they fire the presiding judge. Go figure. He was getting too close to the truth and too much money was at stake.
The beat goes on in Indian Country.
Grab your pockets and hang onto your wallets wealthy investors.
It is all about hiding the fees and zero fiduciary responsibility.
Wall Street's main goal is to enrich Wall Street. At your expense.
Otherwise, they would all be money-managers. Fiduciaries.
Sounds to us like a great bullish call.
Ask yourself, are crowds less thin (and I am not making reference to an obesity factor) in the parking lots at WalMart?
Tuesday, July 11, 2006
So when these policymakers tell us to "save more," they're happy-face hypocrites hiding their real goals. They really want you to spend, not save!
In pure economic terms, the choice is simple. You can't save and spend too. And especially since the 2000-02 recession, our policymakers have consistently voted in favor of spending, not saving. So read my lips: America's savings policy is a fake, bogus, phony, fraudulent, bankrupt and, oh yes, non-existent. Why? Because our policymakers don't want you to save, they want you to spend, spend no matter how deep you go into debt. Ignore their rhetoric, watch their actions.
No wonder the new Securities Industry Association report on retirement savings stands out like a sore thumb: From the 1950s through the 1980s, Americans were saving over 10% annually. Since then, our spirit of thrift spiraled into a negative savings rate.
Today "nearly half of all American households are not saving at all and only about one-third of all U.S. families are saving enough to maintain their standards of living in retirement." And don't tell me that 401(k)s, home equity and stock appreciation aren't included. You're in denial and rationalizing.
But this is not news. We've heard this a million times. You've heard it. So have all your senators and representatives, the president, Wall Street and Corporate America. But the problem is so enormous, we're paralyzed. So nobody's doing anything! Not individuals. Not the government. We're passing our failures on to future generations, as we slip deeper into a bottomless tar pit of debt and deficits.
Reading the same old disaster warnings, over and over makes me mad as hell. Too much money has been wasted on all this repetitive rubbish.
The 10th largest economy in the world suffered a terror strike today that may shake the 1.1 billion who call it home. Not for long. The middle-class will see to it.
Capitalism will provide the stability.
My prayers go out to the Indian nation and family and friends of those slaughtered.
And they say Islam is the religion of peace.
Yea, sure, right.
Monday, July 10, 2006
Male buffalo with the other. He says to the waiter, "Want coffee."
The waiter says, "Sure chief, coming right up". He gets the Indian
A tall mug of coffee.
The Indian drinks the coffee down in one gulp, turns and blasts
The buffalo with the shotgun, causing parts of the animal to
Splatter every where, then just walks out.
The next morning the Indian returns. He has his shotgun in one hand
Pulling another male buffalo with the other. He walks up to the counter
And says to the waiter, "Want coffee."
The waiter says, "Whoa, Chief! We're still cleaning up
Your mess from yesterday. What was all that about, anyway?
The Indian smiles and proudly says, "Training for upper management
Position in United States Government's BIA: Come in, drink coffee, shoot the bull,
Leave mess for others to clean up, disappear for rest of day."