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Dana Blankenhorn

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  • Charles Schwab (SCHW) opens flat as Q2 net profit hits expectations, rising 16% to $0.20/share, while revenue climbs 10% to $1.19B and tops forecasts. The brokerage doubled profit on interest revenue and higher fees for managing assets. (PR)  [View news story]
    Given the real economy, a revenue gain of 10% and net profit rise exceeding expectations is good. Why should banksters be growing fast in a slow economy?
    Jul 18 09:45 AM | Likes Like |Link to Comment
  • Will News Corp. Leave the News Business? [View article]
    Rupert Murdoch and his minions hide behind the idea of "high journalism ethics" but have never practiced them.

    Those who wish to believe lies because it fits their ideological predilections are welcome to do so. Pravda also had many happy readers. But things didn't work out in the end for them.
    Jul 18 08:37 AM | Likes Like |Link to Comment
  • Hewlett Packard Dirt Cheap, But Dead Money? [View article]
    That's what makes markets. One of us will be proven right by events, the other wrong. Those who buy will profit, or they will lose. Have a great weekend.
    Jul 15 04:14 PM | Likes Like |Link to Comment
  • Playing the ConocoPhillips Breakup [View article]
    There is a possibility, but I wouldn't move until there's at least a credible rumor, and I don't create credible rumors.
    Jul 15 02:02 PM | Likes Like |Link to Comment
  • Belgian newspaper: Google blocking us on searches [View article]
    Newspapers that insist on getting found and then getting paid for it shouldn't be on the Web.

    The issue here is that the papers demand compensation for links inside their home pages, the courts have stupidly agreed with them, so Google just took them out of the search engine.
    Jul 15 01:14 PM | Likes Like |Link to Comment
  • Did Jamie Dimon Just Sound the All-Clear on Banks? [View article]
    None of this is about banks. It's about brokerages. Morgan and Citi prospered this quarter through trading, not banking. They had good quarters at the casino, because they control the board as well as place bets.
    Jul 15 01:10 PM | 5 Likes Like |Link to Comment
  • Time to Sell the Telcos? [View article]
    We're talking about two different things. FiOS, the Verizon fiber upgrades (that deliberately cut your copper once you buy them so they can't face competition down the road) are cherry-picking parts of their network, essentially overbuilding cable.

    I guess you can call that competitive.

    But where does the finance for all that come from? Two sources. Regulated entities where people are forced to buy from a monopoly supplier. And government subsidies. Moving money between accounts is just the accounting for it, but the bulk of Verizon was built with money we were forced to pay it for services, and government subsidies for services that were never delivered.

    You may want to call that capitalism. I don't. I suspect Castro might recognize it, though.
    Jul 15 01:05 PM | Likes Like |Link to Comment
  • Time to Sell the Telcos? [View article]
    Now you're getting silly. All those assets were created through regulated regimes that forced customers to pay for them. We bought them, not Verizon, not AT&T. And the spectrum is indeed a public good -- it's our spectrum.
    Jul 15 11:25 AM | Likes Like |Link to Comment
  • Playing the ConocoPhillips Breakup [View article]
    Corn ethanol, pure sugar ethanol -- I agree. Fracking, I disagree strongly. We already have places in the U.S. where the water has been rendered undrinkable by fracking, and that damage is permanent.

    Running away from the full costs of development is bad business, in my view. Yet fossil fuel advocates do it routinely, then claim renewables would not survive without subsidy.
    Jul 15 11:24 AM | Likes Like |Link to Comment
  • Time to Sell the Telcos? [View article]
    No, it isn't. You're thinking entirely of the regulatorium as though that's the technology reality. It's just the government reality, which can be changed.

    Jul 15 08:35 AM | Likes Like |Link to Comment
  • Playing the ConocoPhillips Breakup [View article]
    There are many cheap ways to produce ethanol other than corn. And it beats destroying the water table.

    Tell you what. You can have all the natgas you want. We just get to frack for it under your land.
    Jul 14 03:35 PM | 2 Likes Like |Link to Comment
  • "I am willing to agree to something that I don't agree with," says Minnesota Gov. Dayton, apparently accepting a legislative proposal that could end the 2 week state government shutdown. The plan increases school funding by $700M by borrowing against future tobacco revenues.  [View news story]
    And no beer!
    Jul 14 02:27 PM | Likes Like |Link to Comment
  • Broadcom Fundamentally a Winner [View article]
    I personally remain very optimistic. We have great technologies coming on-stream, especially in the energy sector. We have more energy waste that can be converted into value than any nation. More capital. A better environment for highly-educated innovators. Energy harvesting. And this Internet thingie you're on right now.

    Sure there will be bumps along the way, and sure Indians and Chinese and Brazilians have been grabbing much of the global growth this last decade. But it's a fabulous time to be alive.
    Jul 14 02:27 PM | 1 Like Like |Link to Comment
  • Playing the ConocoPhillips Breakup [View article]
    Breakups are usually good for investors. The Bell break-up delivered stellar returns until the last decade.

    Then there's the story, perhaps apocryphal, of John D. Rockefeller on the golf course when the Supreme Court decision came down breaking up his monopoly. Asked for his advice, he said simply "buy Standard" and sank his putt.
    Jul 14 02:24 PM | 2 Likes Like |Link to Comment
  • Playing the ConocoPhillips Breakup [View article]
    My guess is the refining arm. But wait for the announcement. I say that because the exploration arm is going to be seeking capital and promising returns, the way oil companies did from the 1930s through the 1950s.
    Jul 14 02:23 PM | 2 Likes Like |Link to Comment