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  • How A Bizarre Ownership Structure Creates A Compelling Opportunity In Clearwire [View article]
    glad to hear you liked the article. here are the responses to your questions.

    1) in liquidation, only class A stockholders of Clearwire Corporation receive any of the proceeds. all other stock classes receive only the par value of their shares, meaning that Class B stock in Clearwire Corporation is essentially worthless in liquidation. for sprint to take part in liquidation, they would have to convert their class b stock in clearwire corp into class A stock. but in doing so, Sprint must give up its holdings of Class B Clearwire Communications Units. So it is true that Sprint will take part in a liquidation, but not at the expense of other Class A stockholders.

    the company's bylaws, as spelled out Clearwire's 10-K, which is linked to below, state that one Class B share in CLearwire Corp + one Clearwire Communication Class B Unit are convertible into one Class A share. as such, Sprint must give up its rights to Clearwire Communications to receive any proceeds.

    http://bit.ly/tDiDdC

    2) at the very end of Sprint's 10-Q, it cites Clearwire's ability to operate and maintain its 4G network as a risk factor. unfortunately, it does not appear that either Sprint or Clearwire have disclosed what the fallout of a Clearwire bankruptcy would do to Sprint's 4G network. the assumption the article implies is that should bondholders seize the spectrum, they would try to extract as much cash from Sprint as possible, but there are no specific details on what would immediately happen to Sprint's network.
    Dec 25, 2011. 04:30 PM | Likes Like |Link to Comment
  • How A Bizarre Ownership Structure Creates A Compelling Opportunity In Clearwire [View article]
    apologies for that commission. including the nextel spectrum, Sprint does have a decent amount of spectrum. while we do see positives for S and CLWR ahead, a merger of Sprint/T-mobile will be unlikely, because of network compatibility issues and anti-trust. Sprint has been the most vehement opponent of the AT&T/T-Mobile merger. To turn around and merge with T-Mobile itself would be the height of hypocrisy.
    Dec 25, 2011. 04:13 PM | 1 Like Like |Link to Comment
  • First Solar: The Company Will Survive And In Time, Thrive [View article]
    first solar has a profile of CdTe on its website

    http://bit.ly/uYEhE2

    the module are classified as non hazardous at the end of their lifecycle by the EU and by the US federal government
    Dec 23, 2011. 10:39 PM | Likes Like |Link to Comment
  • First Solar: The Company Will Survive And In Time, Thrive [View article]
    while cadmium itself is highly toxic, the metal is well contained in the CdTe panel. if we are looking at undetected issues with CdTe panels, the issue is not the toxicity of cadmium, but the supply to tellurium, which is very rare. But, tellurium has few uses beyound CdTe panels, and large deposits have been discovered in the oceans.

    http://bit.ly/s0RJ3W
    Dec 23, 2011. 03:40 PM | Likes Like |Link to Comment
  • First Solar: The Company Will Survive And In Time, Thrive [View article]
    the thing with commodities is that after an extended period of decline, they usually go the other way. already, solar executives are wary of a possible jump in polysilicon prices that have fallen 94% in the last 3 years, as per this bloomberg article.

    http://bloom.bg/tSW833

    first solar, which has weathered this period of low polysilicon prices (by weathered we mean maintained profitability), would most likely be a prime beneficiary of a rise in polysilicon prices
    Dec 23, 2011. 05:04 AM | Likes Like |Link to Comment
  • First Solar: The Company Will Survive And In Time, Thrive [View article]
    apologies for any confusion our wording may have caused. what we mean with that statement is that investors who assume that they can cash out of FSLR with a meaningful gain in 1-3 years should not invest in it. to realize a meaningful return, investors will have to hold the stock for more than 1-3 years. we believe that FSLR is a buy here, for the reasons stated in the article, but that it will take some time for the company's strategic initiatives to bear fruit
    Dec 23, 2011. 05:00 AM | Likes Like |Link to Comment
  • First Solar: The Company Will Survive And In Time, Thrive [View article]
    while that may be true, FSLR has proven that it is capable of building what utilities want. It has built many relationships with the leading utilities, and that can be just as important a factor as cost
    Dec 22, 2011. 04:14 PM | Likes Like |Link to Comment
  • Buy Broadcom: A Chipmaker That Stands Alone [View article]
    broadcom's cash flow should replenish the cash balance fairly quickly after the Netlogic acquisition. the company is positioned well in the next 2-5 years. the analyst day presentation they give is quite thorough about their roadmap. while they may not have a meaningful presence in the ARM chip space, they are the leader in combo chips, and it has proven to be a profitable space.
    Dec 16, 2011. 01:42 PM | Likes Like |Link to Comment
  • Activision Blizzard Vs. Electronic Arts: Both Are Good Buys [View article]
    it is true that video games are hit driven, but if any companies have come close to a sustainable earings stream in this industry, it would be ATVI and ERTS. we haven't found any public companies that sell into the video game industry. NetEase (NTES) is the operator of world of warcraft in China, so it is a supplier in that sense, however
    Dec 14, 2011. 11:37 PM | Likes Like |Link to Comment
  • Buy Clearwire: Too Cheap To Ignore, Risks Overblown [View article]
    while spectrum may technically be an intangible asset, we think that its true value is higher than the $4 billion or so that it is currently being valued at. even steep discounts to what is currently being paid for spectrum yields values billions above where the spectrum is being valued at.

    as for the book value, the non-controlling interests in clearwire communications are treated differently by different financial websites/brokerages. ycharts for instance, lists CLWR book value at $3.94/share, while morningstar lists it at 93 cents/share. Credit Suisse, however, lists book value at $14.80 per share, and merrill lynch lists the value at $3.82/share. it is clear that there is a lack of consensus on true book value
    Dec 13, 2011. 09:09 PM | Likes Like |Link to Comment
  • Amgen Is Poised For Continued Success [View article]
    we have been examining DNDN to see if the share price has bottomed, or if there is still more room to fall. provenge expectations have clearly been too high, but we want to know if they are now too low
    Dec 13, 2011. 08:32 PM | Likes Like |Link to Comment
  • Buy Clearwire: Too Cheap To Ignore, Risks Overblown [View article]
    a look at the CLWR balance sheet shows that it has less than $46 million in intangible assets. spectrum is intangible, but not in the traditional sense. we do think it is carried at an unreasonable price, for the true worth of the spectrum is much higher
    Dec 13, 2011. 03:19 PM | Likes Like |Link to Comment
  • Buy Clearwire: Too Cheap To Ignore, Risks Overblown [View article]
    examining the 10q clearly shows the company has positive net worth, assets exceed liabilities by over $3.5 billion
    Dec 12, 2011. 02:51 PM | Likes Like |Link to Comment
  • 5 Financials That Don't Need Europe To Succeed [View article]
    the financial crisis, while certainly a devastating time, is in the past. and these 5 companies have no mortgage crisis to worry about. AmEx and NYSE have no mortgages, and US Bank, PNC, and Wells Fargo have stayed clear of subprime mortgages. not all companies needed bailout money. some were forced into accepting it to not create a stigma around their weak competitors.

    American Express, US Bank and Wells Fargo all posted record profits in the last quarter. the "credit crisis" does not appear to be showing up in the bottom line of these companies
    Dec 9, 2011. 11:45 AM | 1 Like Like |Link to Comment
  • Buy Clearwire: Too Cheap To Ignore, Risks Overblown [View article]
    apologies for any confusion. the point we are making is that one of the reasons for the steep fall in CLWR over the past year has been a fear of bankruptcy. but, even though we think a bankruptcy filing is unlikely, should one happen, it would serve as a way to unlock the value of CLWR spectrum. most companies are not in CLWR's situation. Bankruptcy is usually triggered by a net worth deficit, as well as a lack of cash/assets to service debt payments. In CLWR's case, cash burn is occurring, but the company has no net worth issues, which are present in nearly any bankruptcy.
    Dec 8, 2011. 06:29 PM | Likes Like |Link to Comment
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