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H. T. Love  

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  • Capstone Turbine: Just When You Thought It Couldn't Get Any Worse [View article]
    "I don't know anyone who believes this is ALL management's fault"

    Agreed. But they did fail to respond, in fact stating they were seeing no effect initially, to events which affected both their sales, AR, receipts, shipments, etc. CaptWhizBang at IH posted a chart that shows the strong correlation in stock price decline beginning with Russia's intervention in Ukraine.

    *IF* management had properly assessed the situation they may have avoided many of the ills which have subsequently appeared.

    Moreover, they have had overhead far out of line for some time. One egregious example, ignoring salaries, is maintaining two expensive facilities in California and running one shift at each for *years*. This sort of cost has been an albatross around their neck for years and has never been addressed nor included in their cost reduction efforts.

    I guess they believe(d) that a volume ramp was just around the corner ... for multiple years now.

    They seem to be learning in the scholl of hard knocks and sharing their educational experience with shareholders as they repeatedly issue new shares.

    The current arrangement is with Cowan and Co. to sell shares, at Capstones instruction, when and at what price Capstone sets. I wouldn't be surprised if the recent all-time low involved some of those sales.

    Oct 7, 2015. 06:13 PM | Likes Like |Link to Comment
  • Quick Chat #283 [View instapost]
    LT: their standard bolierplate suggests first logging out, clearing your browser cache, and logging back in.

    I'm having the opposite problem - it's intermittently not clearing flags on new comments.

    I can fix it by posting a comment and quickly deleting it.

    SA's support might have more info available for you too.

    Oct 7, 2015. 12:58 PM | 2 Likes Like |Link to Comment
  • REE/Strategic Minerals Concentrator, March 18, 2014 [View instapost]
    Thanks Motionstream - off to peruse and, hopefully, enjoy! :-)

    Oct 6, 2015. 04:21 PM | 1 Like Like |Link to Comment
  • Quick Chat #283 [View instapost]
    LT: I think the big problem is the short-term nature of the debt mentioned. When they have to roll it over, if interest rates have begun to rise they may find their debt-service burden difficult to manage. Worse, if rates start to rise it *should* mean the economy is improving and the higher debt-service burden makes investment difficult unless it's done with more debt, at "high"(er) rates of course.

    I guess I shouldn't be surprised - there's nothing long-term in the business/finance world anymore.

    Worse, I fear businesses are now taking on the modeel of our congress - let's get through tomorrow and then we'll deal with what comes next.

    Unhealthy for all.

    Oct 4, 2015. 11:54 AM | 5 Likes Like |Link to Comment
  • A Speculative Play On UQM Beginning 2/7/2015 [View instapost]
    " but they weren't happy for very long"

    "... because of the difficulty of getting parts and service after DesignLine filed for bankruptcy protection ..."

    Got 'em in 2007 and that reason given would suggest "weren't happy for very long" is a bit misleading.

    Regardless, Designline was troubled and ultimately failed.

    Oct 3, 2015. 01:19 PM | 2 Likes Like |Link to Comment
  • A Speculative Play On UQM Beginning 2/7/2015 [View instapost]
    "DesignLine had originally won that business"

    And all that I recall suggested Denver was quite pleased with them.

    I know Charlotte was pleased with them, but how much of that was "home field advantage"?

    Oh well, that's business.

    Oct 3, 2015. 09:19 AM | Likes Like |Link to Comment
  • Quick Chat #283 [View instapost]
    Congrats Maya!

    Oct 3, 2015. 08:39 AM | 3 Likes Like |Link to Comment
  • Avoid Capstone Turbine- Things Are Going To Get Even Worse For Shareholders [View article]
    Fido399: IMO not an ice cube's chance in Hades.

    GE makes profits and likely buys only companies that have demonstrated they know how to realize a good future.

    CPST doesn't fit that mold.

    For *years* worried/hopeful investors have been suggesting that might happen.

    I think that less likely than CPST surprising to the upside in the next report! :-(

    Oct 3, 2015. 07:00 AM | 2 Likes Like |Link to Comment
  • Capstone Turbine: Just When You Thought It Couldn't Get Any Worse [View article]
    Crbndoc: be careful about the R/S!

    Shorters have been on this one for a *very* long time in a very large way. Over the last year or so they have reduced their positions ~4x% or so as price has dropped.

    This makes sense as a low s/p makes the risk:reward less favorable and profit-taking is also warranted.

    When the r/s occurs the risk:reward becomes very favorable again and the shorters (especially the hedge funds like Gilder, Gagnon and Howe) have proven very adept at forcing price down and reaping rewards.

    I expect the same to happen after the r/s as CPST fundamentals will still be in the toilet. Sans an improvement in them I see the r/s as a waste of time and $.

    I long ago reduced my core position and have been just doing trading blocks (worked well until this pre-announcement) and hope to be completely out before the r/s and will re-enter when the stars align.

    Disclosure: I never sell what's not mine, so I'm long only. My preference is moral over legal.

    Oct 3, 2015. 06:38 AM | Likes Like |Link to Comment
  • A Speculative Play On UQM Beginning 2/7/2015 [View instapost]
    "Losing Wrightspeed was a blow".

    Ah, there's court cases now for breach of contract. Wrightspeed's "Fulcrum" micro-turbine has only ever been seen in a dis[play case - nothing out there on longevity, reliability, ...

    Who knows how it will end up. Will FedEx et al accept a configuration that's brand new and hasn't been tested for the length of time the CPST units have? Don't know.

    "DesignLine is no more"

    OOPS! I forgot about that. "Environmental Performance Vehicles" bought the stuff and was supposed to pick up the biz in the U.S. However, their web site,, isn't found so I don't know their status - suspect DOA. More digging would be needed.

    "CPST has to live or die via their stationary sales"

    I've felt that way for a very long time, although as you mention, there's some OTR hope as PCAR (Peterbuilt and KW) has been running a CPST around in a test truck for quite some time last we heard and the publicly visible WAVE truck suggests that game is not dead.

    Worse, the headwinds CPST faces, due to USD strength, declining economies, Russia's BPC ills, ... has finally forced management to confront reality and start cutting some costs, but WAY too late in the game, making their road much more difficult than it needed to be.

    Their best hope is the 100 new sales folks the distributors are supposed to add combined with getting closing rates on potential sales up from 11% to 20% AND getting traction in emerging markets. This last item is tough when EMs are suffering various stages of contraction (relatively speaking).

    Don't know how it's going to turn out. You can tell it's dire when they decide to forego cash bonuses and pay it in stock, probably a good thing and, again, WAY too late.

    Oct 3, 2015. 05:44 AM | 1 Like Like |Link to Comment
  • Quick Chat #283 [View instapost]
    Maya: They did however report Baker-Hughes rig count dropped another 26 and began to theorize that this should shortly lead to crude price stability.

    Nobody knows for sure because supposedly it's a combo of supply glut and demand reduction. The latter ostensibly a result of reduced emerging markets demand and China slow down.

    Oct 2, 2015. 06:11 PM | 3 Likes Like |Link to Comment
  • A Speculative Play On UQM Beginning 2/7/2015 [View instapost]
    Yep. Recall that CA ponied up to get BYD buses too, once BYD built a plant in the state.

    How much that would sway purchasing decisions I can't say, but we can figure Proterra will win some based on the quality and features (efficiency, etc.) even if BYD or some other outfit tries to undercut them.

    I'm hoping Designline gets their act together as the Capstone C-30/65, used in Designline buses, is CARB certified already and they've got some good results down in Charlotte and other places.

    CPST really needs the help with the hit from all the headwinds in the energy sector and the economy.

    Oct 2, 2015. 06:04 PM | Likes Like |Link to Comment
  • A Speculative Play On UQM Beginning 2/7/2015 [View instapost]
    Man. those costs makes it hard to argue a strong case based only on ROI or such. Have to close the sale by "going all greeny", ignoring how dirty the grid is. That could change if the micro-grids start gaining big market share though, as would the cost.

    Oct 2, 2015. 11:45 AM | 1 Like Like |Link to Comment
  • Quick Chat #283 [View instapost]
    Only 142K NFP jobs added and prior months revised downward.

    Oct 2, 2015. 08:31 AM | 5 Likes Like |Link to Comment
  • A Speculative Play On UQM Beginning 2/7/2015 [View instapost]
    CN: LoL! Peeking behind the kimono included?

    Oct 1, 2015. 05:14 PM | Likes Like |Link to Comment