Fed Rate Cut, Implications of Whole Foods/Wild Oats, Artie Lange, Eagles and Phillies Talk....

I just learned that the Fed gave a surprise 50 basis point drop in rates. I think the market will like that short term, but I am not overly optimistic that it does enough by itself to fix the mortgage problems and in turn the real estate problems that we are seeing today. Hopefully it will make a few more people credit worthy and help unclog the system a little bit. We shall see…

The proposed acquisition of Wild Oats Markets by Whole Foods looks like it is going to be approved. A federal judge rejected a claim from the FTC that a purchase would be anticompetitive, ultimately clearing the way for the merger to happen (barring a success by the FTC to have that decision overturned on appeal). That decision in itself is not all that interesting, although it may serve to bump up the price of organic mil even more. I am interested in that decision because it is similar in a lot of way to the proposed merger between Sirius and XM Satellite Radio. The satellite companies will make similar arguments that the grocers did in saying that while they are the only form of satellite radio, there are not many competitors around. For the grocers it is traditional grocers such as Food Lion, Kroger, Albertson’s, etc. For Sirius and XM, it is terrestrial radio, cable and satellite television, etc. Look for Howard Stern to double his audience when this deal goes through in the next 12 months or so.

Speaking of Howard Stern, I am a big Artie Lange fan. Some of my buddies argued when Jackie left the show that Artie was horrible and that the show wasn’t the same. I disagree. I think Artie adds a dimension to Howard’s show that Jackie never did. I think at this point the show suffers when Artie is not there. So I was excited to watch Artie’s stand up DVD, It’s the Whiskey Talkin’. And quite frankly, I came away disappointed. I was really expecting to be blown away with his comedy, but I found it quite ordinary and not as smart as his comedy on the show. And we all know (actually not all, probably the .01% of people who actually saw it) that his movie Beer League sucked. Bottom line, Artie should stay right where he is, by Howard’s side, where his talents are optimized, and not think about trying to go it alone. We saw how that worked out for Jackie….

Is anybody out there going to the Birds game tonight? I am taking my kids to the game and going early to introducing them to the art of tailgating. It’s never too early (they are 6 and 4) to learn. If anyone will be there, shoot me an email so we can share a beer before the game. Not that preseason matters, but I predict the Eagles will come out with a bit to prove after coming out flat in their 29-3 loss Monday Night. They get their franchise quarterback behind center for the first time since he tore up his knee last October, there are positions to be won, and one head coach who has put them through the ringer after a lackluster performance Monday. Birds will win, and if you actually care, they will cover the 3 points.

The Phillies are certainly exciting (aka nerve-racking) to watch this season. On the bright side, this team never quits, has a lot of heart, and never seems to be out of a game. On the flip side, they have a tremendous knack for taking an easy game and making it a nail biter. Last night, Cole Hamels gave just a tremendous performance. The kid simply did not have it. His control was all over the place, he was frustrated, and his magic just wasn’t there. But this kid is such a competitor. This is why he is headed for greatness. Despite not having his good stuff, he still left in the 7th inning with a shutout in hand. You gotta love this kid. The bullpen, which has been great lately, struggled. Flash Gordon was on the downward swing of the seesaw that has been his 2007 season. J.C. Romero then came in and as usual could not find the plate (note: this kid has closer stuff if he could harness his control). But bottom line, they found a way to hang on, which is what they are doing more and more lately. Could there be magic this year?

One problem the Phils are having in the last 10 days or so is scoring runs. Besides missing Chase Utley and Shane Victorino, Ryan Howard is a big part of the problem. He has been ultra streaky this year. I would argue with my friend Ari Kaufman who believes he is simply a media creation and overrated. In fact, I think he is the best run producer in the National League. However, he has to become more consistent, get back to hitting the ball to left field, and cut down drastically (I mean drastically) on his strikeouts. He has struck out in a horrific 38.3% of his at bats this year. By comparison, Dave Kingman never came within 5% of that figure. If Pat Burrell ever approached that figure, he would be tarred and feathered. Howard has clearly regressed since last year, and needs to get hot soon for the Phils to get in the playoffs and do any damage once they get there….

All for now…..