Asia Markets And Europe Open 12/1/2008
Markets in Asia were mixed. The Nikkei fell 1.4% to 8,397. Honda (HMC) fell sharply on concerns about sales. The Hang Seng was up 2% to 14,160. The Shanghai Composite rose 1.3% to 1,895.…
All Work
Douglas A. McIntyre
Wal-Mart (WMT): Ambrosia For The Working Man
The new Wal-Mart (WMT) super-store in Columbia, Kentucky is longer than the aircraft carrier USS Enterprise which is docked on the West Side of Manhattan. The retail outlet’s ceilings are taller than those below…
A Century Of Cars: Does Detroit Deserve A Bailout?
Near the Detroit Metropolitan Airport, visible from several major highways, is a four-story tall replica of a Uniroyal tire. It was built for the 1964 World’s Fair in New York and was moved to…
E-Commerce Spending Flat For “Black Friday” (AMZN)(EBAY)(WMT)(TGT)
Some figures picked up in the media from research house ShopperTrak showed retail sales on Black Friday up 3%, which was much better than the most gloomy forecasts. The level of consumer spending may…
Microsoft (MSFT) In Talks To Buy Yahoo! (YHOO) Search For $20 Billion?
Microsoft (MSFT) is well along in talks to control and eventually buy Yahoo!’s (YHOO) search business for $20 billion, according to a report in the Times of London. AllThingsDigital says no such deal is…
Holiday Sales: A Miracle On 34th Street?
Santa is for suckers. At least, that is the conventional wisdom The 2008 holiday season was supposed to be the worst in years, or, perhaps decades. Analysts have forecast retail sales to be down…
GM (GM): A Debt For Equity Swap No Answer To Larger Problems
GM (GM) would like to get some unsecured debt-holders to swap their crumbling paper for equity in the failing auto marker. It may appear that this would solve a problem, but it creates several…
OPEC Fiddles While Venezuela Burns
Saudi Arabia says OPEC needs to drop production until oil moves back above $75 a barrel. As the largest member in the cartel, it would seem that the kingdom would get its way. No…
Bill Gates’ Investment Vehicles Continue To Buy AutoNation (AN), Sparking Share Rally
Just days after boosting his stake to 10%, Bill Gates’ investment vehicles, Cascade Investment and Bill & Melinda Gates Foundation Trust, continue to scoop up shares of battered auto retailer AutoNation, Inc. (NYSE: AN).…
Clearwire, Cha-Ching (CLWR, S, CMCSA, TWC, GOOG, CLWRD)
Clearwire Corporation (NASDAQ:CLWR) will be trading with the "CLWRD" ticker for the first 20 trading days. While many ticker changes are not good, this one is. Clearwire and Sprint Nextel Corporation (NYSE: S) have…
Fannie Mae (FNM): Reverse Splits As The Last Refuge For The Weak
Reverse spilts are the tools of companies which cannot keep their share prices up through good management and sound operation. Most firms that resort to them want to keep their stocks above $1 to…
Ford’s (F) Strange Rally
Ford (F) made another perverse move up today rising as much as 22% to $2.64. At this juncture, even if the federal govenment does extend loans to the US car companies the firms will…
Regional Banks Refusing TARP Funds (BXS, CFR, FCF, HCBK, PRSP, WFD)
Bailouts, handouts, subsidies, and free money be damned. In times when most large financial institutions are lining up for their share of TARP funds, there are many regional banks out there which have decided…
Community Banks Refusing TARP Funds (AUBN, HARL, UBCP, AMNB, KRNY)
In a time of trouble, crisis, and inability to raise capital, there are many banks out there which have decided to refuse the government’s bailout TARP funds. These banks appear to be more solid…
Are Gold Miners Getting Well? (ABX, GG, NEM, AU)
In the past month, gold mining stocks have hit new 52-week lows. On October 27th, Barrick Gold Corporation (NYSE:ABX) bottomed out at $17.27, Goldcorp (NYSE:GG) hit $13.84 on the same day, and Newmont Mining…
Media Digest 11/28/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
Accoring to Reuters, Japan’s industrial output fell sharply in October. Reuters reports that stores are courting careful customers this Black Friday. Reuters report that Panasonic shares fell to a five year low based on…
Saks (SKS): A Poison Pill For A Dying Company
Saks (SKS), which was up until recently one of the world’s premier brands for high-end shoppers, has voted itself a "poison pill". The purpose of this may be to block Mexican billionaire Carlos Slim…
Media Digest 11/27/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, markets in Asia and Europe ross about 2% Reuters reports that the downturn in the Chinese economy deepened. Reuters reports that BHP Billiton (BHP) was gloomy about its prospects and defended…
The Black Friday Ten: Retailers Who May Not See 2009 (BONT)(DDS)(TLB)(PIR)(CPWM)(WSM)(CHS)(SKS)(EBHI)(RAD)
A year ago, not many people would have thought Circuit City would be in bankruptcy now. Linens ‘n Things, Mervyn’s, Whitehall Jewelers and Steve & Barry’s have either shut down or are closing huge…
Petroleum Development Corporation Files To Raise Cash (PETD)
Petroleum Development Corporation (NASDAQ: PETD) has just filed a mixed shelf registration with the SEC to allow it to sell securities to raise capital. The securities listed are any combination of debt securities, common…