HBO's 'Battle for Tobacco Road: Duke vs. Carolina'

In North Carolina, college basketball dominates sports talk, more specifically UNC-Duke basketball dominates sports talk. And it seems like almost everyone in this state has lined up behind one of these teams (admittedly Wake Forest and NC State have fans too, but they aren't as vocal).

Now HBO Sports offers a compelling and even-handed documentary on this basketball rivalry and tradition. "Battle of Tobacco Road: Duke vs. Carolina" is reviewed here at the Charlotte Observer. It should be mandatory viewing for NC transplants trying to understand the passion and devotion of students, alum and fans to these teams.

Like other regional sports rivalries (Ohio/Michigan or Yankees/Mets), the teams share the same intrinsic values (fair play, excellence, competitive drive, dedication); its their traditions, personalities and game strategy that separate them. And that makes the games so much fun to watch. This documentary is worth seeing.

The Nationalization Train is Leaving the Station; Next Stop BofA? Citi?

Without comment, I bring you today's headlines:

CNN's Dawn of the Bad Banks
Financial Times' Greenspan backs nationalisation
Washington Post's Nationalize the Banks! We're all Swedes Now

Stay tuned! Even Drudge is getting in on the action.

Fire and Ice: A Tale of Two Plane Crashes

I wonder how the survivors of USAirways plane crash into the Hudson River feel when they read or see this headline today: Deadly Plane Crash Near Buffalo Kills 49?

Prayers and condolences to the families of those who died in this tragic crash.

Charlotte Needs Some Love From Stim-Useless and TARP funds

Ripped from today's Charlotte Observer headlines:

CMS looks at cutting 1,200 jobs as money trouble grows

Whitewater Center defaults on loans

Critical Need fund gives out $826,000

Banker Congressional Testimony = Annual Shareholder Report = Contrived Drama

Ken Lewis flies coach from Charlotte to DC to testify, with other banker CEOs, before a Congressional committee. He will get a tongue-lashing for sure, will we get a mea culpa? I'd love to see Lewis cornered and forced to come clean on the Merrill/BofA merger and bonus mess, but that may be asking for too much. Reportedly Jesse Jackson is "in the house"; will he provide any dramatic flair?

The Congressional Committee testimony replacing the Annual Shareholder Meeting as THE Reporting Event for these banks? Hmmm.....Bankers presenting their investment strategy and results (vis a vis TARP and TALF funds) before stakeholders (taxpayers -- Congress by proxy) with the individual disgruntled shareholders (Jesse Jackson and protesters) providing some noise but remaining inconsequential to the outcome.

Like the Shareholder Meeting, these proceedings will provide some contrived theatre, but not change the current bank business model trajectory in any meaningful way. And as far as drama, it's the CEOs getting there (via commercial transport) that will provide all the fun.

You've Seen Slumdog Millionaire, But Have You Seen Scumbag Billionaire?

Epic Battle at BofA for $5 Share Price - Updated

Charlotte's Bank of America is fighting for its life. The volume on BAC was yesterday and is again today truly astounding...to the downside. Paging Ken Lewis...come out wherever you are. Some assurances, if any exist, would be good about now.

Just my 2 cents, but if BofA closes under $5, I fear for it and Charlotte.

BAC defending at $5.15 range now. Now, back to baking my cookies.

Updated: Bank Of America Continues Collapse, Only $4.70 To Go (BAC)