July 11 (Bloomberg) -- The guy at Blaque Technology was not happy when he finally picked up after about the fourth time we called his number.
Of course, we didn’t know we were calling Blaque Technology. We thought we were calling Marlon L. Sanchez, the president, CEO, CFO, secretary and, perhaps, mailroom clerk at Cynk Technology. The phone number we dialed is the one shown on Cynk’s DES screen on the Bloomberg terminal.
The company, or whatever it is, named Cynk Technology is the one-time penny stock that now has a market value of about $4.05 billion after rising from a low of 6 cents on May 15 to $13.90 yesterday, paring its gain from $21.95. The stock yesterday fell as much as 33 percent, the biggest intraday drop since a 54 percent decline July 1, and rose as much as 49 percent, after rising 150 percent the day before.
And they say there’s no volatility left in the markets.
Anyway, the DES screen says Cynk is a social network, or at least it “was founded as” one. Not sure where the verb tense originated -- us or them.
By “them,” though, we mean “him,” Marlon Sanchez. While he may have left the guy at Blaque Technology (which, we learned along the way, is bringing its Blaque Expo to Las Vegas in August) sputtering things about his lawyers and swearing he has no association with Cynk, the little boy who answered the phone at Sanchez’s home couldn’t have been more polite or well drilled in phone manners.
“Sorry, Marlon Sanchez is not available at this moment. Can you please call back in two hours?”
Sure, we said. But first, is this the Marlon Sanchez who works for Cynk Technology?
Yes, said the boy, who sounded about 8 years old. If he’s Sanchez’s son, it’s a little weird that he’s calling his dad by his given name, but then so is everything about this story. Maybe a stepson?
We got the kid to take down our name and phone number -- two pens were out of ink before he found one that worked! -- and we could tell that he was writing it all down assiduously. Great kid.
When we called back two-and-a-half hours later and asked again if we could speak to Marlon Sanchez, a woman with an Hispanic accent answered and said we had the wrong number. We were tempted to say “so do the shares,” but we let it go.
So we didn’t get to ask Sanchez what the story is with Cynk. Whatever happens, and whatever Sanchez’s plan is for the listing, time has probably run out.
For this Friday in July we have the monthly budget statement coming at 2 p.m. and Wells Fargo’s earnings due at 8 a.m. EDT. Not much else on the U.S. calendars.
The U.K. said construction unexpectedly declined in May, dropping 1.1 percent from April instead of the increase of 0.9 percent forecast by economists.
+ The Rocky Mountain Economic Summit takes place in Jackson, Wyoming, and the TV people will be there, interviewing Charles Plosser at 10:15 a.m. EDT and Dennis Lockhart at 2 p.m. + The National Governors Association is holding its summer meeting through the weekend, and BTV will be there as well, interviewing Delaware’s Jack Markell, Alabama’s Robert Bentley and North Carolina’s Patrick McCrory, among others. + Google representatives will go on tour in Europe for nine months to explain its policies toward online privacy. + The ECB’s stimulus is working and nothing more is needed for now, Governing Council member Ewald Nowotny told Stefan Riecher in an interview. + The death toll in Gaza has risen to at least 85 since Israel began its offensive July 8. + Germany expelled the top U.S. intelligence officer there, who was probably the one leading the spying on them anyway. + An American Indian reservation’s drinking water may or may not have been tainted by a 1 million-gallon spill of fracking-related salt water brine, depending on who you ask. + A Mississippi baby thought to have been cured of HIV has the virus again, a blow to the researchers who thought they had a treatment for infants. + The Sports Concussion Conference begins today in Chicago and runs through the weekend. They will have lots to talk about. + Amelia Earhart’s plane has been found but the recovery team hired to find it won’t admit it so they can keep raising money, search sponsor Tim Mellon says in his complaint. + Garth Brooks canceled his five-date comeback engagement in Ireland after neighbors of the park venue complained that three shows was the most they could possibly bear to listen to. + Your papers, please. + Babe Ruth made his major league debut with the Boston Red Sox 100 years ago today at the age of 19. He had 10 at-bats in five games with the Sox that season, recording two hits (a single and a double), striking out four times and scoring one run.
Truth be told, unless you’re a millionaire, there are few safe events more petrifying in life than sitting at the table when closing on the purchase of your first home by agreeing to sink yourself into, usually, hundreds of thousands of dollars in debt with a mortgage.
Even if you’re DINKs with good jobs and a 20 percent down payment and money left in the bank after the papers are signed, the responsibility you now bear in life is more than you were prepared for, even when you thought you were. It’s why we ferment grains.
Kids these days, though, they aren’t afraid to shrug off any or all of the regular trappings and mile markers their parents and grandparents took for granted and completed like a steeplechase -- job, wedding, kids, house, maybe a second house near some water, etc.
The Millennials are not dummies. They took notes while something resembling that alien ship in “Independence Day" moved into position over the U.S. economy in 2007 and started raining hell down all around them -- if not in their very household, then in their neighbors’ or their best friends’ homes.
They’re recently out of college, or maybe a little older, and they are, what -- $60,000, $80,000, $100,000 in the hole to student loans? Unless they dropped out of middle school at 15 to work for Facebook or went to work at a place that gave them a Bloomberg terminal, the jobs they hold will pay modestly until they get some years on them.
And the cool places to live typically don’t require a weed whacker.
Pretty much only the Wharton types understand the arguments for building wealth, but in today’s mobile economy, who knows where they could be living in a year or two? So why bother? And what is time to a 27-year-old anyway?
It’s the same old story. Unless you’ve been to Berlin, in which case this is more urgent alert about the flossers taking over, about taking what’s weird and seedy and cool and at times a little scary and dropping a Toys ’R’ Us in the middle of it.
Perhaps it’s wrong to think Berlin has figured out what and how it wants to be after 25 years of the city’s reunification, plus about eight centuries before that: such as the corner absinthe bars, or the pock marks on hulking stone buildings in the heart of the city that reveal the angle of the shots exchanged between German and Russian forces in the last days of the Second World War, or the parking lot/dog park above what was Hitler’s bunker.
But when money has places it wants to go and your burg has valuations to play with, there’s pretty much nowhere to hide. Like water, it’s going to find its way in.
Exactly four years ago, we were visiting a friend there, and here’s what it looked like from his balcony when a flash protest march just materialized out of nowhere on his strasse.
‘‘What is this?”
“Anti-capitalist freak parade, dude. Happens all the time.”
The unwashed, unshaven, dreadlocked, mostly white kids brayed no-money chants and scrawled class-warfare slogans on their hippie wagons while blasting loud music through the former East Berlin neighborhood. We gawked. Everyone else shrugged.
But the kids down there on the street in the Mitte district, which was already getting boutiquey, were ahead of the curve on an issue that is in full flower now, which you can read with a sigh in today’s Cities column.
Brian Sullivan says the hurricane-machine off western Africa is now officially on:
“The wave train has started off the African coast. This image will show you how the waves actually line up across the ocean on their way to North America. The other thing you will see in this picture is a lot of dry air -- the black and brown - - and that the waves are still south of Cape Verde -- the red dots at the right. As the summer wears on the waves will actually move north and that is when the fun begins.
‘‘A wave leaves Africa about once every three days. Waves aren’t anything more than storms that move across the continent. Most (but not all) hurricanes grow out of waves. Fortunately for us, only 11 or so waves catch fire in an average year. As is the case with primetime sitcoms, most waves fail. You can also see in the photo above that many waves keep on going into the eastern Pacific and provide the building blocks for hurricanes there.’’
There’s really only one movie debuting this weekend, ‘‘Dawn of the Planet of the Apes,’’ which features a far more sophisticated job of make-up than Roddy McDowall had at his disposal.
It’s hard to tell from the trailer where the humans came from, other than directly out of an Eddie Bauer catalogue. A bunch of them blunder into the ape neighborhood, thus initiating contact that, of course, goes wrong as they battle it out in a dystopian San Francisco almost entirely overgrown. But the overgrowing must have happened quickly because in one shot there’s a still an American flag flying in almost pristine condition.
The cast includes Gary Oldman, who you’d think would have better projects to pursue and which might explain his Mel Gibson impersonation during a recent Playboy interview. But the New York Times likes it, so what do we know. It’s predicted to take in at least $67 million this weekend for distributor Fox.
Is this the one where they find a statue of Herb Caen washed up on the beach at the end?
When we meet again on Monday, either Germany or Argentina will be the World Cup champion, and while what we know about soccer could fit in a thimble, it’s difficult to envision Germany losing.
Not that long ago, Germany’s dominance would have aroused discomfort in many countries and constituencies around the world, for reasons that have do with history that will never be forgotten, including within Germany itself.
But a funny thing happened during what USA Today brilliantly referred to as ‘‘The Pitiful Game,” Germany’s 7-1 rout of Brazil: The German team reacted in a way that has almost vanished entirely from sports, and certainly in the U.S.
With humility and grace.
What happened next, Alex Webb and Emma-Victoria Farr report today, is that people, including Brazilians, noticed the vanishing sight of character in sports. Because maybe it truly isn’t whether you win or lose, but how you play the game.
Let’s hope it’s contagious (we’re looking at you, NFL), and may the best team win.
Three more riders dropped out of the Tour de France during yesterday’s sixth stage, another rainy, crash-marred ride that sent many more riders tumbling, including Peter Sagan, Thomas Voeckler and others.
Andre Greipel of Lotto-Belisol won the sprint-finish stage, just barely overtaking Michal Kwiatkoski, who had mounted a gutsy attack with one kilometer remaining. Astana’s Vincenzo Nibali remains in the yellow jersey.
Today’s seventh stage sounds grueling, as if the past two weren’t, running 234.5 kilometers (146 miles) from Épernay to Nancy as the riders work their way down the eastern side of France and toward the Alps. The stage finishes with two Category 4 climbs in the last 20 kilometers or so, which is always so cruel, and more rain and wind are in the forecast.
The Yankees’ Masahiro Tanaka is done for a while.
The rookie ace has a small ligament tear in his pitching elbow and will need six weeks of rehabilitation to begin with, perhaps Tommy John surgery to end with.
The righthander is 12-4 since coming to the Yankees from Japan, but given that he’s only 25, you have to wonder about his durability in the future.
The Yankees are four games behind the AL East-leading Orioles, who host the pinstripes for a three-game series opening tonight before the league heads into the all-star break.
Let’s see Brian Cashman’s genius now.
Technical issues yesterday prevented us from remembering to report that the J.P. Morgan Corporate Challenge mixed team competition was won by the runners from Corning Inc. who, we hear, were a bunch of ringers.
The Bloomberg Four placed a respectable fourth out of an uncertain number of teams -- 11 or 12 maybe out of 13. There’s talk that one or two teams either were no-shows or were disqualified for being not just ringers but actual professionals, or something. Which, if true, would give you an idea of how insanely competitive this race is and how well the Bloo Crew did comparatively.
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