Monday, January 6, 2025

Rudy Giuliani Effectively Loses Florida Homestead Claim, And His Grandfather's Watch: Judge Liman @ 3:00 PM EST Today.


The first part of the able USDC Judge Liman's orders are in.

Hizzoner has been hit with civil sanctions on Interrogatory Nos. 4 and 8 -- including an "adverse inference" that he was not completely candid, and truthful, in discovery -- meaning that he won't be able to benefit from providing late documents or showings. He has effectively lost the Florida homestead claim, and any claim to the assets he's previously refused to deliver.

. . .Judge Liman: Plaintiffs have moved for sanctions against defendant. The motion is granted. . . The Court found that the defendant's objections were meritless. He was ordered to answer by December 20. Defendant violated the order. . . .

The court takes judicial notice that the defendant was until recently a barred attorney, and has committed discovery violations in the past. He has lost on both procedural and substantive questions. It was not even close. He violated the court's order. . . .

Defendant could have asked for a confidentiality order but didn't. He has offered a series of shifting meritless objections. The Court concludes that defendant has been attempting to run the clock. The objections were pretextual. . . .

The inference is that the location and any changing of advisers would not support the Defendant's homestead argument. Even without these sanctions, the trier of fact could draw a permissive adverse inference. . . .

The Court also finds Mr. Giuliani in contempt. There was no substantial compliance. He has not produced a single email responsive to the [production orders]. He had the emails going to his travel but he failed to produce them. . . .


Onward, grinning.

नमस्ते

[U, X7: Rulings Expected @ 2:55 pm Eastern!] The "Dumb And Dumber" Show Continues In Manhattan USDC, With Hizzoner In The Leading Role... Yikes!


This will be a thread of live-tweeted questions and answers, under oath, of Mr. Giuliani -- most minutes after they are asked and answered, before USDC Judge Liman, in the ongoing contempt hearing -- in Courtroom 15C, at Foley Square. [I'll likely leave them here, without additional comment, as USDC Judge Liman is doing an excellent job of explaining why they are important.]

Rudy's lawyer (primarily a divorce and PI guy) keeps asking Rudy questions that would cause him (if he answers truthfully) to waive his attorney client privilege (on lots of matters, and might implicate the crime / fraud doctrine of waiver). Judge Liman has now warned him three times that if he asks another such question, the Judge will allow Willkie Farr lawyers (for the plaintiff-election workers) to ask questions about the advice of Rudy's former lawyer, Caruso.

This is now a textbook case of how NOT to conduct direct examination in a federal contempt hearing, for failure to comply with discovery orders. Damn:

. . . .Inner City Press

@innercitypress

Cammarata: Mayor Giuliani, did you make any efforts to comply with court orders?

Giuliani: To the best of my ability, yes.

Cammarata: Can you explain if you violated any court orders?

Giuliani: Some of these interrogatories were traps, so I was wary of them.

Cammarata: Did anyone tell you to ignore court orders?

Plaintiffs' lawyer Larsen: Objection!

Judge Liman: If you ask that, I'm going to allow inquiry into his communications with lawyers. . . . 10:52 AM EST · Jan 6, 2025. . . .

Cammarata: To the extent you may not have complied, why?

Giuliani: As you know I do not trust the plaintiffs, for example asking for all lawyers I spoke to. I have a principled objection. Some documents I can find, using my prior experience. We can supply them. . . .

Cammarata: When did you start relying on others to answer things?

Giulani: When I was assistant to Judge Tyler at the Justice Department. Then as US Attorney, Mayor, then running the second highest security business in the world. I relied on my staff. . . .

Larsen: What about your Proton mail account?

Giuliani: I removed those, except Trump.

Giuliani: I kept the proton emails about the Trump cases.

Larsen: Why did you choose Protonmail?

Giuliani: After the FBI seized my other account and I found they were surveilling my iCloud account as soon as I represented Donald J. Trump.

Larsen: Did you preserve those emails?

Giuliani: I don't know. I set it up fast after the FBI raid.

Judge Liman: When was that?

Giuliani: April of 2022.

Larsen: Do you use a computer?

Giuliani: I don't. Except to do our live cast. I use an iPhone and an iPad.

Larsen: Can you receive instant messages [sic] on X?

Giuliani: I only use it for the show.

Larsen: Do you use text messages?

Giuliani: Two to 15 times a day.

Larsen: Do you get them on your iPad?

Giuliani: I'm not sure. . . .

[Update No. 4] Larsen: So your answer on messaging was untrue?

Giuliani: I thought it only meant private messaging. I only use Truth to promote the show. People respond, it's all public. I don't do individual messaging through social media.

Larsen: Let me show you these emails. . .

Cammarata: I object as beyond the scope.

Judge Liman: Overruled. He gave a wide scope of testimony.

Larsen: You did not produce this email?

Giuliani: I may [not] have.

[Email from Maria Ryan to Heath Berger, about use of credit cards. . . .]

Larsen: What about this email?

Giuliani: I was going to cover the eclipse in New Hampshire for my show America's Mayor Live - which I did, for two days.

Larsen: But you didn't produce this email, based on your own claims of privilege?

Giuliani: Yes. . . [Now, breaking -- for lunch, in Manhattan].

[After lunch; Update No. 5 -- πs' lawyers are asking that, as part of contempt, Judge Liman draw adverse inferences (that Rudy was lying, and being evasive) about homestead matter, in Florida, because he knew he'd lose -- on completely truthful answers.]

Judge Liman: You're asking me to draw an inference on an ultimate question in the homestead case, that none of the doctors were in the Florida area? Nathan: You can draw inferences from the defendant's refusal to provide discovery information. Rule 37 allows it. . . .

Nathan: On Interrogatory 8, Mr. Giuliani has admitted to accounts he did not tell us about. . . He took no steps to produce any of his email. That's enough to grant us relief. The Caruso declaration is just the icing on the cake. We can be granted relief without it, actually. . . .

Nathan: This comes down to the principle that a party cannot benefit from not complying with court orders. Specific deterrence may be a lost cause with this defendant, but general deterrence is important. . . .


[Update @ 11:15 AM EST] USDC Judge Liman just asked Cammarata to "move it along". He's apparently thumbing through papers, and taking minutes between each question -- and the able USDC Judge is growing impatient.

[Update No. 3] In any event, soon enough comes the cross examination by the plaintiffs' lawyers is now underway, when all the truths will out.

Rudy is setting himself up for a complete loss here -- if not a few nights in jail, for contempt. Wow.

Update No. 6: Rudy's lawyer just told the judge that because Willkie Farr is handling the matter pro bono, Rudy's lies and evasions have "caused no harm". By this, I take it he means that the plaintiffs have not had to pay their lawyers MORE -- out of pocket -- to run Hizzoner's duplicity to ground. Poppy-cock. The harm is also to the overburdening a federal court with two days of completely wasteful, meandering and convoluted proceedings -- obviated, if Rudy had just obeyed the law and federal civ. pro. rules.

He may not get jail, but Rudy has lost his claim to keep a "Florida homestead" now. He's. . . toast, in Condor's experienced opinion.

Rudy also showed his grandfather's gold watch in court today, having previously claimed he didn't obey the court's order because he didn't want that watch "lost". That watch is now -- and (since October 2024 at least) has been -- the sole property of the πs, here. D A M N.

It is manifestly not for him to decide which watches he will surrender, and I expect Judge Liman will forcefully make this point in his orders, shortly. Ole' Giuliani thinks (like Tangerine) that he is above the law. That must end, and end now. Out.

नमस्ते

Merck To Buy WuXi Bio-Facility In Dundalk, Ireland For Roughly $500 Million, Due To US BioSecure Act: Reuters


Back in September of 2024, the US passed a package of legislation to increase the security of US patient data and health records, by restricting certain state-affiliated Chinese and other entities from receiving sensitive US governmental biological manufacturing contracts. That pending law is called the US BioSecure Act.

The other shoe has now fallen, on this -- in Ireland -- just a bit south of Belfast, as a Chinese entity called WuXi Biologics must now divest its bio-manufacturing campus to US based Merck, in order for its equity investors to ever see any return on their investments.

[Earlier in November of 2024, Oxford Genetics acquired the UK based business assets of WuXi.] Merck will certainly be able to put this live vaccine facility to good use, and the $500 million price tag for a shiny new plant is. . . bargain basement. So -- good news for US patients, and for Rahway. Here's an earlier (pre-Christmas) bit on it all, from Reuters:

. . .The U.S. House of Representatives had passed a bill in September which would prohibit federal contracts with targeted firms and those that do business with them.

The bills are designed to keep Americans' personal health and genetic information from foreign adversaries and aim to push U.S. pharmaceutical and biotech companies to lessen their reliance on China for everything from drug ingredient manufacturing to early research. . . .

[Separately,] WuXi said it would. . . sell Oxford Genetics, the UK-based operating entity of the WuXi ATU business to Altaris LLC. Altaris declined to comment beyond the given details while WuXi AppTec did not respond to a Reuters request for comment. . . .


Now you know -- as the Giuliani grilling is now underway in Manhattan. More soon!

नमस्ते

Texas Gov. Abbott -- Again, Clueless And Feckless: On Passing Of Former Pres. Jimmy Carter.

This may be smallish, when compared to his intentional actions against women's bodily autonomy, and his savage razor wire floating barriers, and his endless stream of defiance of plainly Constitutional federal mandates for all citizens of his state. . . but it (at least) certainly speaks to the low quality of help he attracts in his state's gubernatorial offices.

Apparently Greg Abbott sent out a press release without reading it. It seems he offered condolences on the passing of the great Mr. Carter to his wife of many decades, Rosalynn -- a former first lady, and gracious southern woman. The problem is that she herself had passed away in 2023. Thus far, his offices have not apologized, or corrected the record for this callously idiotic error. Here's Snopes on it:

. . .A statement issued by the office of Texas Gov. Greg Abbott, marked the Dec. 29, 2024, death of former U.S. President Jimmy Carter and mistakenly extended condolences to former first lady Rosalynn Carter, who died in 2023. . . .


Onward, now -- to the continued grilling (like a hot tuna!), of one Rudolph W. Giuliani, in Manhattan. Grin.

नमस्ते

Sunday, January 5, 2025

Update: Mr. Giuliani Will Be Cross Examined Again Tomorrow, For Four Or Five Hours... In Manhattan Federal Court -- On His "Missing" Assets.


That much is certain. What we don't know is whether he will personally be in court this time. But his counsel and the counsel for the two Georgia election workers (both from Wilkie Farr). . . will be. And the capable USDC Judge Liman will be presiding from the bench, live.

Expect more fireworks (latest order, here). I'll try to find some live tweeting of the still-ongoing contempt matter. Do stay tuned:

. . .The continuation of that hearing is now scheduled for 10 a.m., January 6, 2025, the Court having deferred until a future date the continuation of the contempt hearing in 24-mc-00353. At today’s hearing, the Court indicated that all parties would be permitted to join the hearing remotely. However, given the importance of public access to this hearing, the Court has reconsidered and instead sets the hearing for 10 a.m., in-person in Courtroom 15C, 500 Pearl Street, New York, NY 10007.

The Defendant [Giuliani] alone will be permitted to appear by video. After the completion of Defendant’s testimony, the Court will hear argument on the contempt motion and discovery sanctions in 24-cv-06563, as well as whether the Court should award discovery sanctions with respect to Defendant’s responses to Interrogatories #4 and #8. . . .


See ya' mañana! It ought to be. . . a banger.

नमस्ते

More Tough Mpox News In The New Year: A Fourth Child In Zambia Has Clade 1b Mpox -- Now Isolating At Home...


There is a reasonable probability that this outbreak of the more lethal Clade 1b of Mpox will last to the middle of 2025, or beyond now. [My prior backgrounder -- from the first two Zambian cases, here.]

The reticence to take a vaccine is a factor, as is the inexcusable delay in getting large quantities of vaccine in, to the sites of local outbreaks, here, in Zimbabwe and in DRC especially. Here's the latest -- from the PuneNews web-outlets:

. . .Zambia’s health authorities have reported the country’s fourth case of monkeypox, also known as mpox.

The case involves a one-year-old boy who possibly contracted the virus through close contact with a known case, said Minister of Health Elijah Muchima.

“The child is under home isolation, receiving medical care, and in stable condition,” he told reporters during a press briefing.

Last month, the health authorities reported two cases from the Kitwe city in the Copperbelt province, Xinhua news agency reported.

In October 2024, Zambia reported the first mpox case involving a Tanzanian national who came for a visit. . . .


Here along Lake Michigan's western shore, we are battening down the hatches, for a polar vortex tonight, and up to four inches of fluffy snow, by nightfall, tomorrow -- negative wind chills to come! Ooof -- but onward, just the same.





नमस्ते

Saturday, January 4, 2025

Power Alley — Coming Polar Vortex Edition: New Januvia® Price Decrease.


As of the new year, Merck has "voluntarily" reduced prices on Januvia by an additional ~42%, according to Stat. My use of air quotes (and the legacy graphic at right) serves to remind readers that Merck has agreed to accept the pricing the federal agencies offered in the last round of negotiations on the drug.

And as Stat points out, the added reduction will more closely align the out of pocket / co-pay consimers experience, compared to other diabetes treatment regimens. [Candidly, I highly doubt this signals any Novo type event, despite the Stat prognostications.]

In any event, here's that news update -- as I await my flight out of Sky Harbor:

. . .The start of the new year is traditionally a time when many drugmakers raise the price of their treatments, and this year, companies did just that with at least 250 medicines. But Merck stood out by cutting the list price of its diabetes drug Januvia by 42%. . . .


Now you know. And (sadly), back into a polar vortex arriving in the City of Big Shoulders, by Sunday evening. Yuck!

नमस्ते

Friday, January 3, 2025

More Soon -- But Tangerine's 34 NY Fraud Felonies Sentencing Will Go Forward In NY -- On Jan. 10, 2025: Judge Merchan.


Welp.

Buckle up.

Tangerine will appeal, but there is no impediment to his being sentenced in a week -- on 34 felonies in Manhattan, said Judge Merchan’s just filed opinion.

Woot!

नमस्ते

[U: X4] Overnight Giuliani Nuttiness: "I Don't Want To Be Cross-Examined" -- On My Lies, In Manhattan...


UPDATE -- Rudy Giuliani: going to jail today, in Manhattan?

It is unclear whether he's testifying now, at the contempt hearing in Manhattan -- but it should be nearly over, already -- if he's back from the bathroom break he's requested. [Additional update -- court on lunch break. No substantive testimony from Hizzoner yet.]

What a crock -- he just knows he's. . . cooked, and in my opinion -- he's just tap-dancing (he may leave the courthouse and not go back into the court room). End, update.

You couldn't make this nonsense up -- if you tried.

On the night before he was to appear for a contempt hearing, Hizzoner's lawyers tried to say he would "be willing to" appear by Zoom only, but wished to offer evidence (and avoid cross examination, in person).

Quite rightly, the able USDC Judge Liman called BS on this chicanery, in an overnight order:

. . .Defendant [Giuliani] does not assert he is unable to travel. He submits no medical evidence. He has appeared in person at two prior hearings in this matter. See Minute Entry, November 7, 2024; Minute Entry, November 26, 2024. He has previously asked for an adjournment of the trial so that he could travel to Washington, D.C. this month. Dkt. No. 121 at 4. Plaintiffs take the position that, if Defendant is permitted to testify at the hearing, Plaintiff will want to cross-examine him in person and in that event, the request to appear remotely should be denied. Dkt. No. 214. . . .

Defendant has communicated to the Court that he intends to rely on, and asks the Court to consider, his submitted declarations and his deposition transcript. Dkt. No. 211 at 1. Those documents would be hearsay if not sworn to by Defendant [Giuliani] tomorrow and if Plaintiffs were not given an opportunity to cross-examine. Fed. R. Evid. 801. In short, Defendant has asked the Court for the right to testify -- at least by declaration. At the same time, however, Defendant has not shown good cause or compelling circumstances for his belated request to testify remotely. See Radosti, 2022 WL 2119299, at *2 (denying request to testify remotely where parties did not “provide sworn affidavits or any medical documentation describing or substantiating their representation that, due to medical reasons, they are unable to travel to testify at trial”). . . .

Defendant [Giuliani] has appeared in the recent past, on occasions where his testimony has not been required and the Court has not been asked to hold Defendant in contempt. He has presented no evidence why for this hearing, where the Court has been asked to hold him in contempt, where his credibility has been called into question, and where Plaintiffs have asked for an opportunity to cross-examine him in person, he should be permitted to deny Plaintiffs that opportunity and to appear remotely. Plaintiffs would be prejudiced by being denied the opportunity, ordinarily accorded to any other litigants, to cross-examine the witnesses against them live and in open court. . . .


I'll report if Rudy showed up today in Manhattan -- but the hearing should already be underway. And he will shortly be found in. . . contempt.

That permits his jailing, among other matters -- which is why he's likely. . . not in Manhattan, in all probability.

More soon, but he's still not been cross examined. Update No. 3 -- he's now being cross-examined -- here's how InnerCityPress live tweets it: ". . .Inner City Press @innercitypress

31 seconds ago

Plaintiffs' lawyer Larsen: Do you understand that the term communications would include e-mails?

Giuliani: I don't think so. No.

Larsen: It is your testimony that emails are not communications?

Giuliani: They are more like documents. . . .

Plaintiffs' lawyer Larsen: Do you see this request regarding travel between January 2020 and the present, all physical or electronic calendars?

Giuliani: I do.

Larsen: And you said assistants kept it on notes and discarded them?

Giuliani: I've done that for years

Giuliani: When I was a lawyer my secretary would keep a detailed calendar. I don't do it anymore. I just have notes on the wall, then I throw them out. I thought it was inappropriate you ask for all my doctors, it was not relevant. . . .

USDC Judge Liman: You don't get to determine that
. . . ."

Damnation. I'll update later this afternoon, once again, when -- not if -- Mr. Giuliani is found in contempt (and whether he will spend at least the night in jail). Out for now.

नमस्ते

Thursday, January 2, 2025

Some Rather Dark New Year 2025 Hilarity, In These Deplorable (Bourbon Street) Times... Giuliani's Former Monsignor Edition.


I won't quote but the tiniest bit of it, but it is a few hundred pages of. . . inane babbling, and dissembling (under oath no less!), by a defrocked catholic priest that Hizzoner was once going to call as a witness about the bona fides of his relocating his primary residence to Florida (primarily to take advantage of its liberal homestead exemption laws).

The full transcript of the deposition taken last week is about 3 Mb, and a few hundred pages -- and is right here. It is notable, as well, in that Rudy has now removed this man from his list of witnesses for tomorrow, in New York. No surprise -- the guy would get crucified on cross (pun intended).

. . .Q. Okay. And under Experience, it lists your role as senior vice president with Giuliani Partners; is that right?

A. That's correct.

Q. What do you do as a senior vice president?

A. Nothing.

Q. I'm sorry?

A. Nothing.

Q. Do you -- is that still your title?

A. It may be, but, I mean, I haven't used the title in a long time.

Q. Are you still employed by Giuliani Partners?. . . .


In point of fact, he goes on to admit that he still uses the title SVP in his Linkedin profile through to today, and that he's never had any responsibilities -- or pay -- for the title Rudy gave him.

He said he's "sure" he and Rudy have been best friends since grade school, though.

[And he admits that the various press reports of his being defrocked by the catholic church -- for credible allegations of sexual abuse of young people are accurate.]

C H A R M I N G.

Not quite the impeccably credible witness one might hope for.

In truth, let us all hope and pray that everyone at the rescheduled Sugar Bowl gets to the game, and back home safely, in about five hours from now. Onward.

नमस्ते

Wednesday, January 1, 2025

In The New Year, The Supremes Will Hold That Friends of George’s Will Win, In Tennessee... Drag Shows Are First Amendment Protected. Period.


You'll recall that we've been closely following the anti-drag show state statute case, out of Memphis.

The trial court correctly found that the statute violates Tennesseans' First Amendment rights to dance. . . in costumes.

On appeal, the Sixth Circuit panel completely rewrote the "statute", as written by the legislature, to add limiting provisions that are wholly-inconsistent with the purported statute's express commands.

That is not cricket.

So the Supremes (like the trial court in Memphis) will strike the supposed law.

You heard it here first -- as the cogently-argued cert. petition was filed in the Supremes (178 pages!), as we long ago said it would be -- now, in late in December:

. . .Summary reversal is warranted when a court of appeals decision is “flatly contrary to this Court’s controlling precedent.” Arkansas v. Sullivan, 532 U.S. 769, 771 (2001) (per curiam). Given the responsibility of sovereign states to interpret their own laws, the Court has repeatedly held that federal courts may not unilaterally rewrite or reinterpret state statutes. Federal courts, the Court has stressed, have “no authority to construe the language of a state statute more narrowly than the construction given by that State’s highest court.” City of Chicago v. Morales, 527 U.S. 41, 61 (1991). Even when the state statute is novel or ambiguous, “[f]ederal courts lack competence to rule definitively on the meaning of state legislation.” Arizonans for Off. Eng. v. Arizona, 520 U.S. 43, 48 (1997).

Here, however, the court of appeals rewrote the AEA in two different ways -- revising the statutory definition of “harmful to minors” and inferring a scienter requirement that does not exist. These interpretations contradicted the AEA’s text. The court of appeals did not seek guidance from the Tennessee Supreme Court, which has not yet interpreted the Act, let alone narrowed it. And while the court of appeals invoked the Tennessee Supreme Court’s earlier decision in Davis-Kidd, that decision interpreted a different statute; Tennessee courts have not applied Davis-Kidd to similar laws, as the court of appeals mistakenly assumed.

When, as here, federal courts have tried to rewrite state law -- or even to interpret an ambiguous state law without first consulting the state’s highest court -- the Court has not hesitated to reverse those judgments summarily. See Bradshaw v. Richey, 546 U.S. 74, 78 (2005)
. . .


Just to be clear: this supposed Tennessee law allows biological women to dress in any fashion they like, short of complete nudity, and dance in any public place they choose -- in any make-up they might favor. . . or without any make-up.

But should someone who happened to be born with male genitals. . . try to do the very same thing in a public square (i.e., wear a dress and/or put on heavy eye-makeup and lipstick and blusher), they would be subject to arrest -- in every town in Tennessee. [Note that the now-sitting Gov. of Tennessee has himself dressed in drag -- as have I -- as a younger man. See at right. We were both team captains in this tradition. Sheesh!]

That's facially-inconsistent with the people's First Amendment rights -- of self-expression. End of story.

Onward.

नमस्ते

Tom Fitton, His Lawyers -- And His Named Plaintiffs -- Haven't Disclosed Who They Are "Affiliated With" -- In The Stupid Suit Against Evanston Reparations.


Not remotely surprising, as we've long known Fitton imagines himself some latter day Clarence Darrow, but has no bar card, nor has he ever graduated any accredited law school, or even sat for any bar exam.

So it comes as no surprise that here, almost eight months into the silly strike suit he ginned up, and filed in federal court in Chicago. . . he still has not indicated which of his affiliated entities are controlling, under common control with or controlled by the five named plaintiffs.

At New Year's Eve, the court helpfully reminded them that such a filing is required, unless all of them are acting solely in their individual capacities (and will be jointly ana severally personally liable -- if the court should find the suit lacks a good faith basis, and thus the City of Evanston might recover its own attorneys' fees and expenses from them at the end of the litigation).

I'd hazard a guess that as of this moment, those fees are well over $100,000 -- and could be over $600,000 -- even if there is never a trial. If a trial occurs, I'd triple the guess -- to $1.8 million. Damnation.

In any event, here's the order:

. . .Pursuant to Local Rule 3.2 (Notification of Affiliates), any nongovernmental party, other than an individual or sole proprietorship, must file a statement identifying all its affiliates known to the party after diligent review or, if the party has identified no affiliates, then a statement reflecting that fact must be filed. An affiliate is defined as follows: any entity or individual owning, directly or indirectly (through ownership of one or more other entities), 5% or more of a party.

The statement is to be electronically filed as a PDF in conjunction with entering the affiliates in CM/ECF as prompted. As a reminder to counsel, parties must supplement their statements of affiliates within thirty (30) days of any change in the information previously reported. This minute order is being issued to all counsel of record to remind counsel of their obligation to provide updated information as to additional affiliates if such updating is necessary. If counsel has any questions regarding this process, this LINK will provide additional information.

Signed by the Honorable Virginia M. Kendall on 12/27/2024. . . .


H I L A R I O U S.

At immediate left is an image of one of the goofy plaintiffs' lawyers -- who also happens to be a paid Village Trustee, in nearby Palatine, Illinois. Hmm. This nonsense will be dismissed (for a lack of standing, and thus a lack of jurisdiction) in 2025, in all likelihood.

Couldn't happen to a nicer bunch of embittered old wretches.

Onward, into a strident new year of. . . Lawful Resistance 2.0. . . .



नमस्ते

Monday, December 30, 2024

BMO Has Become Too Pessimistic About Merck. Will Miss 2025 Upside.


About a year ago, we reported that the firm made Merck an "outperform", with a target of $130. Most savvy Wall Streeters still agree with that assessment.

But about a week ago, BMO dropped Merck to "market perform", and reset the stock price target, at $103. It cited pessimism about Keytruda, and the cost of some recent acquisitions.

My view is that Rahway's acquisition savvy -- buying in at lower prices, and getting game changing therapies, in the process -- is one of Merck's core strengths.

Still, most of Wall & Broad disagrees with BMO: Merck is once again (as in the 1980s and '90s) the most reliable pharma to bet on. $130 is a sensible one year target. I will post my year end predictions… a day or two after we bring in the new year… so, stay tuned.

And as ever, be excellent to one another! [Dictated but not proofed.]

नमस्ते

Sunday, December 29, 2024

Travel Well — Travel Light, Mr. President!


I am reposting a prior one -- as he made 100 glorious years. He was a great man, indeed.


So. . . (2016) it seems that some people interpret the Bible -- and their New Testament -- to exclude what Christ called "the least of my brothers" -- in Luke 10:30, et seq.

Here's the appropriate answer, courtesy the Washington Post:

. . . .Re #Nashville Statement:

I affirm: That God loves all LGBT people. I deny: That Jesus wants us to insult, judge or further marginalize them.

I affirm: That all of us are in need of conversion. I deny: That LGBT people should be in any way singled out as the chief or only sinners.

I affirm: That when Jesus encountered people on the margins he led with welcome not condemnation. I deny: That Jesus wants any more judging.

I affirm: That LGBT people are, by virtue of baptism, full members of the church. I deny: That God wants them to feel that they don’t belong.

I affirm: That LGBT people have been made to feel like dirt by many churches. I deny: That Jesus wants us to add to their immense suffering.

I affirm: That LGBT people are some of the holiest people I know. I deny: That Jesus wants us to judge others, when he clearly forbade it.

I affirm that the Father loves LGBT people, the Son calls them and the Holy Spirit guides them. I deny nothing about God’s love for them. . . .


So it goes. And -- for almost 20 years now, I have preferred the Zen formulation of these ideas. . . but I do accept with relish this fine Catholic Priest's counter to the non-sense some people are apparently calling the Nashville Statement. I would confidently think that most of the good people of Nashville would prefer the other hate-filled words not be associated with their fine city's name. Now you know.

नमस्ते

Power Alley, Delayed: One Of Merck's Older C.Diff. Injectable Therapies To Be Phased Out In 2025: Zinplava®


This was buried rather deeply in the holiday news, but last week, the FDA website was updated to indicate that bezlotoxumab, branded as Zinplava®, would be discontinued shortly, by Merck.

As we've mentioned in the past (see this 2012 item), there is a more. . . biological treatment for C.Diff. -- and I supsect the "in clinic, real world" year-by-year data is confirming that it is generally more effective and better tolerated, than this pricey bio-engineered monoclonal antibody injectible.

In any event, here is Reuters on the latest:

. . .Merck will discontinue its drug for a bacterial infection that can lead to fatal diarrhea, the U.S. Food and Drug Administration's website showed on Monday.

The antibody drug, Zinplava, was first approved by the regulator in 2016 to prevent the recurrence of Clostridioides difficile infections (CDI). . . .


Now you know -- onward, to close out an even year -- and enter what will be literally, and metaphorically. . . an odd one. Candlepin bowling outing, here -- with all the grown, great kids and cousins, this evening -- woot!

नमस्ते

And… The Implosion Begins. MAGA Vs. Sane High Tech Immigration Policies… Hilarious!


Some of the more moderate hard right pundits are now taking belated note of the fundamental opposing forces to which Tangerine 2.0 told separate (irreconcilable) lies -- to get elected.

He promised the tech bros he’d help them get huge swaths of high skill Nigerians, Asians and people from India. . . into their workforces, via expanded work visas.

Moreover, in the very same breath, Tangerine 2.0 promised the dead end, low education MAGAts (all local). . . he’d give them these same $80,000 to $120,000 a year jobs.

And now -- the jig is up.

The MAGA dead enders are just now realizing they were lied to: they will never be qualified for these jobs, largely because they’ve repeatedly made egregiously-poor life choices throughout their educational careers. . . and into the present day.

So -- the Musk/Trump honeymoon is dying -- even before the inaugural is held.

I love it. [For her part, Marcy Wheeler, writing at EmptyWheel, expertly lays it all bare, as of a few days ago.]

And the more moderate hard right pundits candidly admit this likely means the Republicans lose one or both of the houses of Congress -- in 2026. [And to be clear, the sensible policy is to continue and expand high value, high-tech, worker visas into the United States.]

But as ever with Tangerine. . . welcome to the House of Chaos -- 2.0.

D A M N.

नमस्ते

Saturday, December 28, 2024

[U] All You Need To Know: Tangerine Has 14 Million TikTok Followers, Now. Remember Sept. 2020?!


Updated: the NY Times (finally!) has a story hinting that maybe Tangerine took 2024 campaign contributions from larger equity holders in the ByteDance orbit, in return for doing an "about face" on TikTok needing to be divested, from Chinese state affiliated control. The story says he "backed off". More likely, he "sold off" his position. Disgusting -- end, update.

Apparently (and hilariously so!) Tangerine 2.0 DIRECTLY opposes… Tangerine 1.0’s “TikTok Banning” Executive Orders.

D A M N.

It is frustrating to me personally that none of the morning after’s stories on his brief just filed with the Supremes — not a single one I’ve seen — mentions that he personally spent almost two years trying to ban TikTok, all by himself, last time around. [His sole, and venal, motive was that the Tik-Tokers embarrassed him with a swarm, at his rally, in Tulsa.] See here:

“. . .This unfortunate timing,” his brief said, “interferes with President Trump’s ability to manage the United States’ foreign policy and to pursue a resolution to both protect national security and save a social-media platform that provides a popular vehicle for 170 million Americans to exercise their core First Amendment rights. . . .”


Well. . . that’s just silly.

If he’s right (he’s not), he can convince Congress to amend the law, after his inaugural. When he possesses actual authority. [Right now, he’s just another crooked jamook. And Chief Justice Roberts knows it.]

Even if he’s right, the Supremes are duty bound now to decide cases on appeal. The only way forward now, is for Congress to amend the law if the Supremes uphold it.

But rest assured, Trump only cares about keeping control of every megaphone he might.

What a putz. See his prior very strident 2020 views, when TikTokers pranked him, here (starting at page 8, onward).

But now he has a vested interest in keeping that 14 million Watt megaphone of his. Just. . . damn.

Out.

नमस्ते

“The law imposes consequences on parties who disregard their obligations”: Giuliani Edition, Updated.


The very capable USDC Judge Liman in Manhattan entered a Friday night order squarely warning Hizzoner that he may be headed to jail by January 3, by about mid-afternoon. The end of the road, for him -- now arrives.

And I love it. Here's the full memoradnum opinion, and order -- and a bit:

“. . .The law imposes consequences on parties who disregard their obligations.” Id. Defendant failed to show any good cause for his tardy responses, and in any event, his objections were without merit. Id. The information requested by Interrogatory # 4 was “squarely relevant to Defendant’s claim for a homestead exemption.” Id. at 4. Plaintiffs had “more than met their burden” to require Defendant to answer Interrogatory # 8 because “Defendant’s repeated noncompliance with his discovery obligations” had given substantial reason to doubt the completeness of his disclosures to date in this case. Id. at 6.

The Court ordered that Defendant answer the interrogatories by December 20, 2024 or show cause why he should not be held in contempt for violation of the Court’s order Id. Defendant failed to show any good cause for his tardy responses, and in any event, his objections were without merit. Id. The information requested by Interrogatory # 4 was “squarely relevant to Defendant’s claim for a homestead exemption.” Id. at 4. Plaintiffs had “more than met their burden” to require Defendant to answer Interrogatory # 8 because “Defendant’s repeated noncompliance with his discovery obligations” had given substantial reason to doubt the completeness of his disclosures to date in this case. Id. at 6. The Court ordered that Defendant answer the interrogatories by December 20, 2024 or show cause why he should not be held in contempt for violation of the Court’s order. . . .

The record is now closed on the order to show cause why Defendant should not be held in contempt. The Court will be prepared to announce its decision on the contempt request as early as the hearing on January 3, 2025. The parties should be prepared to address the question of why, if Defendant is held in contempt, the Court should not impose the sanctions requested in Plaintiff’s letter of December 26, 2024. . . .


Yowza, yer 'Oonor! Smoke that. Out.

नमस्ते

Friday, December 27, 2024

No Alarm Yet — But Bird Flu Just Mutated — In Louisiana Patient: CIDRAP


The concern is that this new mutation may more easily infect humans' upper respiratory tracts. And regular readers will recall that the first confirmed US children's case was seen in California about a month ago, now.

The "Louisiana" mutated form of virus hasn't been shown to easily invade hosts in the wild yet, but experts in Minnesota say it now plainly has that potential, as a matter of pure biology. Here's the latest, out of San Diego:

. . .The CDC said the mutations in that patient were similar to ones observed in a hospitalized patient in British Columbia, Canada. The changes may make it easier for the virus to bind to receptors in a person’s upper respiratory tract.

“Although concerning, and a reminder that A(H5N1) viruses can develop changes during the clinical course of a human infection, these changes would be more concerning if found in animal hosts or in early stages of infection. . . when these changes might be more likely to facilitate spread to close contacts,” the CDC said in the report. "Notably, in this case, no transmission from the patient in Louisiana to other persons has been identified. . . ."


Now you know. Onward -- be careful out there.

नमस्ते

And Now, Kosovo Sees Its First Mpox Clade 1b Case -- A Man Returning Home, From Western Africa...


The good news is that all the people he interacted with in Kosovo -- and the contacts of his contacts -- may be vaccinated promptly. And the vaccine (closely related to the smallpox vaccine) is nearly 100% effective.

The tough news (as we said last night, most recently) is. . . this is going to be a fairly regular news item, country by country for the foreseeable future, into 2025. Here is Reuters reporting, on it all:

. . .Kosovo health authorities said on Friday they had detected the country's first case of mpox, in a man who had recently returned from Africa.

Kosovo's Institute of Public Health said a 30-year old Kosovo citizen was admitted to hospital on Dec. 24 after returning from a west African country. It did not name the country.

"His symptoms were fever, chills, and skin changes in face and hands," the institute said in a statement, adding that the patient appeared stable. . . .


Even so, we plan to meet the new year with hope, and a sense of purpose -- in blunting the darker, more hateful and malign forces now taking shape in our nation -- and the wider world. Onward.

नमस्ते