Day: March 9, 2012

Friday, 9 March 2012

09:56 – This weekend, we’ll get started on building the restricted chemicals and small parts subassemblies for the biology kits, 60 sets of each. We may also make up 60 sets of the unrestricted chemicals, although one of those is still missing and will be until the backordered methyl cellulose arrives. The following weekend, assuming the methyl cellulose has arrived, we’ll start assembling full kits, probably two or three dozen to start with. There are already people on the waiting list, and I want to get those orders filled before the book hits the stores.

As expected, Greece has formally defaulted by announcing its intention to enforce the so-called Collective Action Clauses that it retroactively inserted in its debt contracts last month. The bad news for Greece is that, even after triggering the CACs, they’ve still come up at least $4 billion short of the Troika requirements for approving the new bailout. That means that, unless the Troika changes the rules that they’ve repeatedly insisted will not be changed, the new bailout will not be approved. Right now, I’m sure there’s a lot of scrambling going on behind the scenes to somehow get everything approved, but it’s by no means a done deal. Eleven days from now, Greece may or may not have the money it needs to redeem the $18 billion or so of debt that matures that day.

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