THE JOHN LOTHIAN NEWS DAILY UPDATE – 2/15/2021

John Lothian

John Lothian

Executive Chairman and CEO

 

The John Lothian Daily Update is a podcast turning the daily JLN hits and takes comments, our original content and the stories and quips in the top box of First Read into a daily podcast.

 

Hits & Takes

JLN Staff

Here is my comment about the recent impeachment verdict by the United States Senate. It is a quote from Robert F. Kennedy, a man whose life and work I greatly admire. This is an excerpt from RFK’s “Day of Affirmation” speech given at the University of Cape Town, South Africa, on June 6, 1966, two years to the day he was shot and killed in Los Angeles.

Every time we turn our heads the other way when we see the law flouted, when we tolerate what we know to be wrong, when we close our eyes and ears to the corrupt because we are too busy or frightened, when we fail to speak up and speak out, we strike a blow against freedom, decency and justice.

~Robert F. Kennedy

My CBOT Building 16th floor neighbor Blair Hull is the guest on a podcast called Risk of Ruin and the episode is titled “From Black Jack to Black Monday.” You can hear it here on Apple Podcasts.

In case you are not in Chicago, it has been rather cold and snowy here lately. How cold and snowy? Well, according to WGN meteorologist Mark Carroll, the average temperature in Chicago from Feb. 5 to Feb. 14 is 7.8 degrees. This is the 4th coldest of all the Feb 5-14 periods since 1871. The last time a Feb. 5-14 period has been colder was 122 years ago in 1899. The 28.1″ of snow in Chicago since January 25 make the Jan. 25 to Feb. 14 period the 3rd snowiest on the books since the 1884-85 snow season. The last time a Jan. 25 to Feb. 14 period has been snowier in Chicago was 1978, 43 years ago. And, with 11″ or more snow on the ground over the past 15 consecutive days, this has tied for the 5th longest consecutive stretch of 11″ or greater snow cover on the books. The last time we had more days in a row with 11″ or more of snow on the ground for more than 15 days was 2001. Then just for fun, the forecast calls for 8 to 12 inches of snow in some Chicago locations in the next two days.

Chicago is not the only cold and snowy location. Bloomberg is reporting that cold weather has cut Permian oil production – oil produced in the Texas and New Mexico area – by 1 million barrels a day. The coldest weather in 30 years has led to a combination of well shutdowns, flow-line outages, and disrupted road transport.

Moving to things hot, Japan’s Nikkei 225 has exceeded the 30,000 yen level for the first time since 1980.

Your crypto thought of the day. If bitcoin was worth stealing when it was between $300 and $20,000, how much more is it worth stealing now that it is near $50,000? Maybe it’s time to double check your wallet security.

On Tuesday, I am moderating a panel discussion for the DePaul Arditti Center on “Securing a Risk/Finance Internship or Career.” We are recording the panel on Zoom for play at a later date. This is a first for me.

As the vice president for development of the Pathway to Adventure Council, I helped put in place a new policy for the Friends of Scouting program whereby the Scout units get to keep 10% of the money raised if the unit hits their goal, which is just $50 per Scout registered in the unit. This gives the units incentive to make the FOS program work for the Council and for the units.

RSM’s Adam Spence is the latest to give to the JLN MarketsWiki Education GoFundMe campaign. Adam is a financial services tax manager at RSM and worked under the revered Harlan Ten Pas. Thank you to Adam and all who have given and all who have yet to give. Support our efforts to preserve industry history by giving to our GoFundMe campaign.

Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL


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