Comments on Frank Rong's articles RSS Syndication from SeekingAlpha.com http://seekingalpha.com/author/frank-rong/articles http://seekingalpha.com/article/89819-sears-faces-risk-if-economy-doesn-t-improve?source=feed#comment-567702 567702 Do not worry, Sears won't go bankrupt any time soon. They'll sell > store after store after store to some Chinese owned retailer that > will then import all their low wage products into the US and take > market share from other low priced retailers. > > The thought of Sears going bankrupt is sorta like that crazy idea > of Ford going bust, or GM, or the airlines, or newspaper companies. > That could never happen. Or Could it? > > When its all said and done, we'll all be working for Walmart, or > Google. > > Jay Fredrickson > > > http://washingtoncheap.com]]> Mon, 29 Jun 2009 20:05:12 -0400

On 2008 Aug 08 09:58 AM jay fredrickson wrote:

> Do not worry, Sears won't go bankrupt any time soon. They'll sell
> store after store after store to some Chinese owned retailer that
> will then import all their low wage products into the US and take
> market share from other low priced retailers.
>
> The thought of Sears going bankrupt is sorta like that crazy idea
> of Ford going bust, or GM, or the airlines, or newspaper companies.
> That could never happen. Or Could it?
>
> When its all said and done, we'll all be working for Walmart, or
> Google.
>
> Jay Fredrickson
>
>
> washingtoncheap.com]]> http://seekingalpha.com/article/89641-the-great-bubble-of-china-next-to-pop?source=feed#comment-452590 452590 Sun, 05 Apr 2009 15:46:39 -0400
just look at lenovo, sure, you can buy a creative company, but keeping that creativity inside the company and multiplying it or applying it to other departments or companies is far from easy...]]> http://seekingalpha.com/article/89641-the-great-bubble-of-china-next-to-pop?source=feed#comment-452588 452588 Sun, 05 Apr 2009 15:42:33 -0400
jim rogers... great guy, but this isnt a vs thing, there isnt one truth and what jim writes doesnt necessarily contradict this. dont forget that exactly because jim has had so much insight in the past and hes well known for it, it may be easier to mislead and manipulate him. this is a typical asian thing btw, rallying behind one guy, a great leader which i wouldnt recommend... im sure even jim himself would agree that neither he nor anybody else is right all the time.

ctk, interesting idea, but while hong kongs administration seems to work better than taiwans, its in deep something right now as well and things have gone worse and worse over the past years with the chinese authoritarian influence growing. and yes, democracies all around have their flaws and issues, democracy is far from perfect since the media and government are not independant enough from the economy, yet, as of today, democracy is still the best system humanity managed to put together... democracy sucks, but its still the best we had so far...

thanks everybody for the insight! very interesting!]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-427927 427927 Mon, 16 Mar 2009 13:35:38 -0400
How much has the money supply been shrinking right now based on less current lending?

Separately , the marked to market rules are not that simple to quantify fairly .

How can you just ignore an inventory that is currently selling for half its former value?

How do you decide if it is a temporary "ignorable" drop , worthy of being overlooked per overall valuation accounting policy,

Or a valid long term revaluation (rangewise , anyway) ,

Making it fantasy to simply ignore it? .


]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-425439 425439 Sat, 14 Mar 2009 07:04:49 -0400
www.securitization.net...

I didn't read the rest of your article because you couldn't even get the date of issuance correct. If you're going to write an article on this very important subject matter- at least do some basic research.

bloggingstocker.blogsp... ]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-425140 425140 Fri, 13 Mar 2009 18:29:51 -0400
Correct me if I am wrong but M2M establishes the rough value of a company and is used to determine capital requirements. How do you determine capital requirement and assess risk with M2Myth? Both will become important in the future with respect to Regulators. Where are the examples of securities that are grossly mis-priced using M2M? Certainly by now they have a track record of returns so why not M2Model? Why change the accounting?]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-425051 425051 Fri, 13 Mar 2009 17:02:58 -0400
Mark to Market is the Primary culprit and the root cause of our financial crisis. Unless one considers the idiotic, ignorant, arrogant, and totally out of touch politicians on both sides of the aisle in the U.S. Congress as the root cause.

They changed the accounting system. It became a 3 inning game scored by ever changing an irrelevant rules that had nothing to do with anything.

IMO
]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424946 424946 Fri, 13 Mar 2009 15:34:19 -0400 It is of paramount importance that allround extension of credit was necessary. Otherwise it would not be possible to create unprecedented wealth. But in the new financial system as soon as a bad debt is generated it should be immediately informed to the central bank and then an equivalent amount of freshly printed money to be sent to the affected bank.Then when the home owner would start paying at a softer rate that money should be directed to the central bank which again would burn the money. This way this huge financial tsunami could be avoided. ]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424567 424567 Fri, 13 Mar 2009 11:54:57 -0400 http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424330 424330 Sarbanes Oaxley begat Mark to Market in response to Enron. > The U.S. Congress begat Enron when they deregulated essential gas > and electricity and opened it up to speculators. > The politicians are the handmaidens of FASB 157 > The Politicians are the root cause of this accounting crisis (FASB > 157) that created a financial panic and the subsequent credit squeeze. > > > At its core, Mark to Market requires someone who has no interest > in selling a performing asset (A willing owner and jence an unwilling > seller) to discount said asset to the point at which an unwilling > disinterested party (buyer) MIGHT become interested. > > THIS IS BEYOND STUPID. > > Kill Mark to Market and FASB 157, drive a stake thru its heart, cut > off its head,burn the corpus delecti. > The politicians have used Mark to Market to pull off a Coup de Tat > and destroy the capitalist free market system. > > The politicians are using this "crisis" to expand government power > as they bring America into a socialist state. > > Never allow politicians to mess with the accounting system, else > before you know it 2+2 is redefined as equaling 1.3 - or some such. > > > Never confuse accounting with reality. > > Solve the root cause of this problem and the economy will be restored > as the financial system is restored and markets will soar as credit > begins to flow when confidence in balance sheets is restored > > 1)Get rid of Sarbanes Oaxley = Mark to Market > 2)Get rid of FASB 157 > 3)Reinstate Glass Steagall Act > 4)Reinstate the uptick rule on short sales > 5)Increase margin on commodity futures trading to 50% > 6)Make it illegsal for politicians to mess with the accounting system. > > > IMO]]> Fri, 13 Mar 2009 10:01:45 -0400
8) In financial statements, expense the intrinsic value of stock options (as it is currently done for tax purposes), i.e., trash Black-Scholes for option accounting

9) Lower corporate tax rate to 25%. China's corporate tax rate is 25% - a communist country; oh, the irony...



On Mar 13 09:32 AM petyaczar wrote:

> Sarbanes Oaxley begat Mark to Market in response to Enron.
> The U.S. Congress begat Enron when they deregulated essential gas
> and electricity and opened it up to speculators.
> The politicians are the handmaidens of FASB 157
> The Politicians are the root cause of this accounting crisis (FASB
> 157) that created a financial panic and the subsequent credit squeeze.
>
>
> At its core, Mark to Market requires someone who has no interest
> in selling a performing asset (A willing owner and jence an unwilling
> seller) to discount said asset to the point at which an unwilling
> disinterested party (buyer) MIGHT become interested.
>
> THIS IS BEYOND STUPID.
>
> Kill Mark to Market and FASB 157, drive a stake thru its heart, cut
> off its head,burn the corpus delecti.
> The politicians have used Mark to Market to pull off a Coup de Tat
> and destroy the capitalist free market system.
>
> The politicians are using this "crisis" to expand government power
> as they bring America into a socialist state.
>
> Never allow politicians to mess with the accounting system, else
> before you know it 2+2 is redefined as equaling 1.3 - or some such.
>
>
> Never confuse accounting with reality.
>
> Solve the root cause of this problem and the economy will be restored
> as the financial system is restored and markets will soar as credit
> begins to flow when confidence in balance sheets is restored
>
> 1)Get rid of Sarbanes Oaxley = Mark to Market
> 2)Get rid of FASB 157
> 3)Reinstate Glass Steagall Act
> 4)Reinstate the uptick rule on short sales
> 5)Increase margin on commodity futures trading to 50%
> 6)Make it illegsal for politicians to mess with the accounting system.
>
>
> IMO]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424328 424328 Fri, 13 Mar 2009 09:59:06 -0400 Well said. I hope the board members at FASB read it. A little Econimics 101 refresher course for them.]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424284 424284 Fri, 13 Mar 2009 09:32:27 -0400 The U.S. Congress begat Enron when they deregulated essential gas and electricity and opened it up to speculators.
The politicians are the handmaidens of FASB 157
The Politicians are the root cause of this accounting crisis (FASB 157) that created a financial panic and the subsequent credit squeeze.

At its core, Mark to Market requires someone who has no interest in selling a performing asset (A willing owner and jence an unwilling seller) to discount said asset to the point at which an unwilling disinterested party (buyer) MIGHT become interested.

THIS IS BEYOND STUPID.

Kill Mark to Market and FASB 157, drive a stake thru its heart, cut off its head,burn the corpus delecti.
The politicians have used Mark to Market to pull off a Coup de Tat and destroy the capitalist free market system.

The politicians are using this "crisis" to expand government power as they bring America into a socialist state.

Never allow politicians to mess with the accounting system, else before you know it 2+2 is redefined as equaling 1.3 - or some such.

Never confuse accounting with reality.

Solve the root cause of this problem and the economy will be restored as the financial system is restored and markets will soar as credit begins to flow when confidence in balance sheets is restored

1)Get rid of Sarbanes Oaxley = Mark to Market
2)Get rid of FASB 157
3)Reinstate Glass Steagall Act
4)Reinstate the uptick rule on short sales
5)Increase margin on commodity futures trading to 50%
6)Make it illegsal for politicians to mess with the accounting system.

IMO
]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424274 424274 Fri, 13 Mar 2009 09:29:09 -0400 http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424272 424272 Fri, 13 Mar 2009 09:27:39 -0400
At least, on exercise of options (warrants), the intrinsic values should be compared to the values that were accrued at grant date and the numbers should be trued-up to correct the accruals. That's what we do with valuation allowances and other such estimates. But ah, stock options (warrants) are the executives’ pet scam and we are not going to bite the hand that feeds us. FASB is in cahoots with the “scamsters.” The "F" is FASB stands for "fraud." OK, a bit harsh, but I hope you get the point.

FASB is inconsistent and politically compromised, hence these glaring contradictions. You can't mark assets to market when no market exists. (A market for employee options exists. Telefonica buys call options to cover the option grants they make to employees. Consequently, they accurately account for the cost of options and also avoid shareholder dilution. The best of both worlds with the compliments of the Spaniards – shame on us.) I think FASB misjudged the doomsday devise they concocted and then their pride would not allow them to back down.
]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424266 424266 Fri, 13 Mar 2009 09:26:40 -0400 http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424165 424165 Fri, 13 Mar 2009 08:15:51 -0400
FASB 157 didn't destroy the financial system. The Keynesian economic model which is a complete fallacy did.
You are applying Autrian economic model thinking to a fiat money system.

You're rong.]]> http://seekingalpha.com/article/125860-how-the-u-s-banking-system-was-madoffed-by-the-fasb?source=feed#comment-424126 424126 Fri, 13 Mar 2009 06:55:18 -0400
But it's also true that the massive corruption on Wall Street and in the mortgage origination business, both basically un-regulated by the Bush administration for eight long years, was a huge force in misdirecting investment, rewarding criminal behavior, and destroying investor confidence.]]> http://seekingalpha.com/article/89819-sears-faces-risk-if-economy-doesn-t-improve?source=feed#comment-231946 231946 Sat, 16 Aug 2008 13:24:25 -0400
IF THE CONSUMER goes down...who is GONNA SHOP AT SEARS or most retailers for that matter...

www.abiworld.org/AM/Te...

flashrob]]> http://seekingalpha.com/article/89819-sears-faces-risk-if-economy-doesn-t-improve?source=feed#comment-230728 230728 Thu, 14 Aug 2008 20:33:34 -0400 http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-230692 230692 Thu, 14 Aug 2008 18:52:55 -0400 Their first attempt with the Goldfish Card in the UK failed but like any good business does, they learn from their mistakes. DFS bought Diner's Club who has a network in over 180 countries. Soon, and DFS cardmember can use their card in over 180 countries. Global Merchant acceptance issue solved. In the U.S., acceptance is over 4.5 million merchants and they recently partnered with many acqusition companies, including the top 10, and are adding thousands of merchants a month(this has been happening the last several months).

Was anyone else aware that out of the top 100 retailers in America, DFS is accepted at 98? That is more than V/MA/or AXP believe it or not. Now that DFS is an independent company, they can make their own decisions and be able to focus on their own growhth 100% So yes, be happy to own DFS shares for the long term of course!]]> http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-229895 229895 Thu, 14 Aug 2008 00:29:26 -0400 http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-229162 229162 Wed, 13 Aug 2008 07:11:24 -0400 http://seekingalpha.com/article/89819-sears-faces-risk-if-economy-doesn-t-improve?source=feed#comment-228934 228934 Tue, 12 Aug 2008 18:31:42 -0400 http://seekingalpha.com/article/89819-sears-faces-risk-if-economy-doesn-t-improve?source=feed#comment-228714 228714 Tue, 12 Aug 2008 12:38:32 -0400
Funny, but that's the essence of the problem here, isn't it? When your boy wonder has more money than god, what's going to motivate him to bust his butt to prove doubters wrong? You guys believing in his black box magic had better hope he's a guy with a massive ego, otherwise he'll do what any sensible billionaire will do and walk away to enjoy life in the Hamptons and let someone else sort it out...]]> http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-228346 228346 Mon, 11 Aug 2008 22:33:08 -0400 http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-228290 228290 Mon, 11 Aug 2008 20:20:30 -0400
]]> http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-228288 228288 Mon, 11 Aug 2008 20:17:34 -0400
Anyway- moving on- DFS is growing by leaps and bounds I hear they just signed up Harry's used cars in Nebraska- and did some viral marketing and linked up with Maude's stereo shop next door!

On a serious note- as long as default rates are increasing there is no reason to let your money float for another year when you can catch momentum on V. For example, just take a look at the charts over the last couple of months- plenty of action- but with a safety net. If all you did was trade on dips and rallies and took profits every on every 5 dollar move you could have done quite well for yourself.

DFS will get a little bump from the MA/V settelement action. The lawsuit is going to trial in September. I still think this will settle this month (pre-trial). Now if that happens DFS will get a nice little bump. Is that the 'trick up the sleeve' frank- bullish on DFS because you think they will have a nice little bump this month??

Frank- Let's say you are not Green Cap- what are a few of the other stocks you like right now?]]> http://seekingalpha.com/article/90256-amex-s-pain-likely-discover-s-gain?source=feed#comment-228050 228050 Mon, 11 Aug 2008 15:29:47 -0400

Charge=offs through the cycle]]> http://seekingalpha.com/article/89819-sears-faces-risk-if-economy-doesn-t-improve?source=feed#comment-228035 228035 Mon, 11 Aug 2008 15:16:14 -0400 http://seekingalpha.com/article/89819-sears-faces-risk-if-economy-doesn-t-improve?source=feed#comment-227909 227909 Mon, 11 Aug 2008 13:01:33 -0400 I would love to know if Walmart has tried as many "bright ideas" as Sears has put forth. Sears has not yet made up its mind who should do the signing, address the dress code, etc. Folks outside of Sears would have no idea what goes on behind "those walls." We had a junior high school teacher work part time in the hub, (they are still not sure what to call their back office) and she said, "it was more stressful to work a few hours at Sears than to teach school all week." Folks when you walk in a Sears store, you have no idea what kind of stress those 6.15-7.00 an hour associates are under.
In my 29 years, there were two managers that were tops!!!!!!
Let me give you an idea of how crazy these mgr's can be. It snowed really bad and I was the only one to drive to work and the mgr. made me move my car off the lot where customers would normally park.. There were no customers that day. I am sure I went in due to payroll or something that had to be done to put my life at risk. He did not last long. The worse thing that I lived through with Sears was the fact they would post a job, lead folks to believe they really had a chance at it knowing all the time they
were bs'ing everyone. Sears is the most unethical company and has managers that would stab their grandmother in the back to get ahead. NO ONE WAS INTERESTED IN THE BOTTOM LINE; JUST THEMSELVES. The wheels could not see it and would not listen.
We all said, "what goes around, comes around," and we may just be beginning to see the "coming around." ]]>