“Everyone who's ever taken a shower has an idea. It's the person who gets out of the shower, dries off and does something about it who makes a difference” -- Atari Inc. co-founder Nolan Bushnell
On this day in 1972, Atari rolled out Pong, one of the first arcade video games. The table-tennis simulation was originally created as a training exercise for engineer Allan Alcorn. Nolan Bushnell says that in 1976, he turned down a chance to invest in Steve Jobs’ Apple (AAPL.O). "Steve asked me if I would put $50,000 in and he would give me a third of the company," he said. "I was so smart, I said no. It's kind of fun to think about that, when I'm not crying."
OTTAWA EXPECTED TO ANNOUNCE PIPELINE DECISION
We’re all about opportunities on BNN as the federal government gets set to decide on whether to approve new pipelines, including projects that advocates say are needed to let Canada ship oil to markets other than the United States. Perhaps most controversial is the Northern Gateway project - bitterly opposed by environmentalists - proposed for British Columbia by Enbridge Inc. (ENB.TO).
Pipeline stocks offer the allure of a dividend yield and steady revenue even if oil prices languish. But we’ll hear from a money manager on Commodities at 11:05 a.m. ET who has been short-selling Enbridge. Daniel Lloyd, founder and portfolio manager at Sui Generis Investment Partners, warns that the company has far too much debt in an environment of rising bond yields. Other threats he sees: “A very wonky corporate structure. Customers whose credit worthiness continues to deteriorate. Environmental protesters determined to halt their growth.”
Lloyd, meanwhile, told our own Andrew McCreath last month that he’s in the camp of investors who think oil prices will have trouble moving much above US$55.
MORE FROM BNN ADVISOR
BANK OF NOVA SCOTIA TOPS EXPECTATIONS
Fourth-quarter profit at Bank of Nova Scotia (BNS.TO) topped expectations, coming in at just over $2 billion. Canaccord says the bank posted “strong performance across the board,” noting that Canadian basic banking earnings were up 13 per cent despite slow growth in residential mortgages. Scotia chief financial officer Sean McGuckin is on BNN at 3 p.m. ET.
Of course, we’re not neglecting real estate. At 2:45 p.m. ET, we’ll be joined by Herb Auerbach, co-author of "Placemakers." The survey of history through the lens of real estate examines the role of figures such as Alexander the Great of Macedonia and Napoleon III of the Second French Empire in building and remaking cities.
Finally, road users on legal cannabis may become a hazard but aging drivers can also be a menace.
Cops in Japan are worried by a “rise in accidents involving older motorists” so they’re offering discounts on ramen noodles at the Sugakiya restaurant chain - if the drivers surrender their licence.
Sorry, not giving up the bicycle. Three wheels. Training wheels. Outriggers. Whatever it takes.
Every morning Commodities host Andrew Bell writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.