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- Pacific Sunwear F3Q08 (Qtr End 11/1/08) Earnings Call Transcript
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CaptBob
198 Comments
The Energy Follies
Would you believe Hawaii--yes the state of--is in a crisis over the price of shipping oil to fire their electric generators, which has led to unsustainable electric rates.---while---
TB, wants to drill for geothermal--Hawaii never noticed that they're sitting on an "ACTIVE" volcano, that you don't have to drill for, it's spilling over in their laps!!
And the Surfer talks-"Tidal"... they've got the biggest waves in the Country and they use them for--YEP!!---surfing.
What's wrong with this picture????
The Credit Crisis: Solvency vs. Liquidity, and Why Bailouts Won't Help
It's crooked Bankers helping crooked Bankers with the aid of Corrupt Politicians passing bills to make crime legal.
While the American taxpayer stands on the sidelines in the Buff, wondering if,--in this company--maybe the virtues of that dropped soap are overrated.
The Energy Follies
This energy cat has more ways to skin it than even a Politician could devise, but it will continue to hiss and spit and scratch until we're all back in the age of discovering fire.
We'd best invent the Talk-le-tron--hot air in one end, a light bulb in the other.
Is the Price of Gold Artificially Depressed?
In the direct buy sell of the gold market they may have some leverage but today it's a dollar that's gaining as oil looses that's taking gold down, and I doubt anyone has the muscle to effect all three.
I do have to admit that the dollar is garbage and as soon as oil gains --as it will--and the latest strong dollar rumor wears off---Gold will go up--and up---and up!.
New Vehicle Fuel Consumption Could Be Cut by 30% or More
paying $4.50 a gal. But they never sold them in the U.S.A.??
You always hear that "90% of accidents occur within 25 miles of home" "buckle up etc".
Now: I doubt that those "accidents" are just lurking on a 25 mi. perimeter around your house or it takes everyone 1/2 hour to wake--or sober up-(reach beyond 25mi.)!!
The quick answer is a little electric for the 90% of our driving on less than 25mi. 6 pack runs, etc. And a dusty SUV in the garage for the 200mi. trip to Grandmas house, skiing, fishing etc.
If you have to commute that far??---there are some good housing buys right now-- and much closer for a double savings.
Can Sprint Convince Customers to Stay?
A year later the 10% discount dissapeared off my bill---or I got a 10% increase=semantics.
If you read the fine print--they can change--anything---any...
" --You can change--nothing---ever...
As soon as I check other carriers--the next thing to dissapear will be me!
The customer service numbers to United States agents are frequently changed. To get the latest one you have to spend a half hour navigating through Calcutta.
Nobody Cares How the Energy Crisis Gets Solved
All people do breathe the same air, they just tolerate pollution to different degrees. Most Californians would not wear masks and tolerate industrial China.
People who just had to drive a Hummer till last month and then at $4.50 parked it with a tear in their eye don't care how we bring down the cost.
People who couldn't wait to get their hands on a Prious, and are current with all the advances in electric cars do care how energy is produced.
Only the stupid animals who cannot reason all the variables, know with a singular mind that walking too close to the cliffs edge is hazardous to your health.
A Supply Side Problem: Oil's High Price is Here to Stay
One other variable in the equation that bears mentioning is how oil is priced---in the almighty-(formerly) dollar.
With no change at all in supply demand with the continued devaluation of the dollar the "price" will continue to go up. However in other currencies which advance over the dollar those consumers of oil will get a break=fewer euros a barrel.
Then enters the supply/demand factor which in a declining production time frame will see prices increase for everyone, the levels each economy can bear will be the ultimate "stabilizer"...
Fed Leaves Rates Unchanged; Walks Tightrope on Inflation
It is in the price of food as this is a must buy!. Gas fell because it met resistance at $4+. This is tantamount to the price of crack increasing till the Junkie can no longer afford it.
Inflation is not represented in price increases as much as the devaluation of the dollar by way of it's dramatic increase in numbers a-la Zimbabwe.
The only thing is these surplus dollars are being held by the banks in an effort at solvency. Some quick profits were realized by a forey into the "Hot" commodities market, but no-wheres near enough to offset those rotting CDO's in the vaults. Loans have to bring 3X the 2% borrowed cost of the $$'s or they're not made, to the continued detriment of housing values.
The presses continue to run to the dollars demise.
This all equals inflation but does not appear as drastic price increases as the Consumer cannot buy at todays prices, he's too tapped out, paying interest on past purchases.
What the Fed's Latest Decision Means for Investors
The question in the short term is where the up and down of oil is going to balance out. It only took the average American about two $100 tank fulls to park and share. The stocks built up and prices fell. Question is will he be comfortable at $375.?? or stay short on the driving??
In the long run that Detroit Dinosaur we all knew and loved will become extinct. But until that day it's going to be red ink greasing the recessionary skids.
Forget the Politicians; We'd be better off without them!, Their fixes for friends-(future employers)-and largesses have cooked our currency beyond recognition, our industrial base is a skeleton and our children will be left with obscenities blocking any fond memories of our generation.
We know the right direction to take, it's just a question of wasting time with the blame game and expecting Govt. to act, or simply taking the controls in a swift and decisive manner--a-la T. Boone--and doing what Americans do best---as individuals.
Is the Ethanol Mandate Likely to be Repealed?
The biggest asset Ethanol has is the Farmers-Corn Lobby in D.C.
Everyone knows Corn doesn't hold a candle to sugar for efficiency or yield.
But as you said we need all the niche players in this "Whole new Game" .
We're going from one big player to a team and with no depth in the bench every 2% player has to be suited up!.
The Answer to Energy Independence
You'll find the appropriate audience will be back in session in about 6 weeks. They couldn't see any cause for alarm.
At that point they'll all be back trying to add on a bridge, a museum, or a study on frogs, or a new highway next to their nephews farm, in their home district all to your "All of the above" and they won't stop "Yapping" till they get "The important stuff" so for the rest of 08 buy a bike.
And if you meet an Oil lobbyist--that's right!!---under the bus. There's still room for a few more.
How I Learned to Stop Worrying and Love the ZOLT
But if I had to pick between an "Energy" post and a Co. Shill, it would be no contest.
Lithium-Ion Batteries and Centerfolds: The Final Chapter
Bleeding the oil out of our veins will be a painful process but with every barrel we cut, the age of healthy, affordable energy gets closer.
Try anything and everything, as soon as possible. I haven't seen anyone tearing up and throwing away any problem solar or wind generators lately, just putting up more.
Credit Crisis Review: ARMed for Failure
It was actually a Triumvirate spawned by the Greenspan era of low interest rates=easy credit.
1.Banks wrote mortgages designed for maximum profits in anticipation of ever increasing home values. And packaged the CDO junk for sale -up the line and overseas. Boy we sure fooled those Chinese with our AAA CDO-Tranches Huh??
2. Those poor dupes who wanted but could never qualify were accommodated anyway. Unemployed room temperature I-Q's stood No Chance against lifetime Real Estate hucksters. Plus as values rose ,they discovered the "Equity Loan" compounding the damage.
3. The true speculator, that believed it would never end and rode the Ponzi scheme to dizzying heights, turning cheap Lead to Gold, till that one big wave and ----Wipeout!!