Exxon shatters profit records/Economic Signs Turn From Grim To Worse

or
Good News/Bad News for Exxon Stockholders. Just Bad News For The Rest Of Us

The Washington Post says that not only is the economic handbasket hell-bound, the road is getting steeper.

The accelerating pattern of grim indicators has led up to a report scheduled for release this morning on U.S. economic performance in the final three months of last year. Many economists think the economy shrank by as much as a 6 percent annual rate -- that would be the worst quarter for the economy since 1982 -- and they see little potential for growth until later this year.

But not all the toy boats are circling the drain. As CNN reports some companies seem counter-cyclical:

Exxon Mobil made history on Friday by reporting the highest quarterly and annual profits ever for a U.S. company, boosted in large part by soaring crude prices.

Bring your pitchforks, tar, and feathers up to the refinery guard shack for the protest.

(partial h/t to the ever-alert ScottyNuke)

Silicon Valley Wants to Stay On the Road to Prosperity

or
Because The Road To Bankruptcy Is So Crowded Right Now

Daniel Lyons of the Washington Post reveals the secret business strategy of the computer industry. Guess what? It involves government money. And cheap imported labor.

Shane Robison, HP's chief strategy and technology officer, says he'd like to see the following: a permanent research-and-development tax credit, which would encourage tech companies to do more basic science research, which in turn would benefit everyone, not just the company that conducts the research; more government funding for basic science research; more spending on education; and changes in immigration laws to help foreign-born students who study in the United States to stay in the country afterward.

Lyons also pinpoints the problem with the U.S. auto industry that seems to have eluded everybody:

Detroit failed because it ignored or dismissed the threat from foreign rivals and kept making the wrong kind of cars.

Glad we got to the bottom of that mystery. And good luck with staying ahead of those lean hungry Asian engineers.

(h/t to DLD)

First Lady Assails Use of Daughters' Images for Dolls

or
Ty Pays No Royalties To First Family

The Washington Post has pictures of the doll that have raised Michelle Obama's ire.

Ty recently released the 12-inch dolls in their collection called TyGirlz. The dolls have soft brown skin and big eyes. Ty's Web site shows Sweet Sasha wearing two pigtails and a pink and white dress, with Marvelous Malia doll wearing her hair to the right side and a blue-green shirt.

Nope, not a thing similar to the newest First Kids. At least not according to Ty:

The company, which is based in Oak Brook, Ill., has said the dolls are not made to be exact replicas of the first couple's daughters and are not based on the Obama girls.

They have nothing in common other than the name, gender, age, and ethnic origin. Nope, nothing. This is the most disingenuous product coincidence since the Baby Ruth bar. I'm not buying it. The story or the dolls.

(h/t to ScottyNuke)