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MJ Murphy

MJ Murphy
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  • A123 (AONE) should see at least four bidders come in to try and buy the company out of bankruptcy at an auction that starts today. Johnson Controls (JCI +0.6%), NEC, Siemens (SI), and Wanxiang all qualified to bid for parts of the lithium-ion battery maker. [View news story]
    To have multiple bidders is appropriate. What may not be appropriate is to have a foreign company obtain the technology thru a sell-off of a company that obtained start-up funding from the U.S, government through stimulus payments.
    Dec 6, 2012. 03:01 PM | 1 Like Like |Link to Comment
  • A123 Systems (AONE) receives court approval for $50M in Debtor-in-Possession financing from Wanxiang Group Corporation. The company is continuing discussions with Johnson Controls (JCI) over bidding procedures in connection with the asset purchase agreement the firms signed. [View news story]
    I guess this is the process. The country and the industry should support JCI role in preserving the operations as US owned.
    Nov 6, 2012. 11:37 AM | Likes Like |Link to Comment
  • Johnson Controls (JCI) outlines a series of charges relating to restructuring and accounting changes, becoming the latest U.S. company to adopt a mark-to-market accounting for pension and retirement costs. The restructuring will result in an estimated pre-tax charge of $225M to $275M in Q412. The charge is comprised of employee-related costs of approximately $180M to $210M, asset impairment charges of $30M to $45M, plus other miscellaneous costs around $15M to $20M. [View news story]
    JCI is "biting the bullet" and taking the hit this year for the restructuring costs and the downside related to the pension accounting. Good to get it behind them.
    Oct 23, 2012. 05:21 PM | 1 Like Like |Link to Comment
  • Wanxiang Group intends to outbid Johnson Controls (JCI) for A213's (AONE) automotive-business assets and replace the U.S. company as the "stalking horse" bidder. The Chinese company announced its intention at a court hearing yesterday following A123's filing for Chapter 11. At the hearing, A123 won approval to borrow up to $15.5M in interim financing from Johnson Controls. [View news story]
    I believe JCI should be the preferred acquirer of A123 as they are a proven player tn the lithium-ion technology market, and a US company with a strong record in manufacturing , technological and financial performance. The synergies from this deal would be beneficial to both the company and the US govt since it advances the opportunities for incremental growth and clean energy.
    Oct 20, 2012. 03:29 AM | Likes Like |Link to Comment
  • Wanxiang Group intends to outbid Johnson Controls (JCI) for A213's (AONE) automotive-business assets and replace the U.S. company as the "stalking horse" bidder. The Chinese company announced its intention at a court hearing yesterday following A123's filing for Chapter 11. At the hearing, A123 won approval to borrow up to $15.5M in interim financing from Johnson Controls. [View news story]
    I am a longtime JCI stockholder and a strong proponent of the company for its successful history of strategic organic and external growth. The synergies from this deal are very good for both the company and the US govt goal to promote clean tachnology in this country.
    Oct 20, 2012. 03:27 AM | Likes Like |Link to Comment
  • Wanxiang Group intends to outbid Johnson Controls (JCI) for A213's (AONE) automotive-business assets and replace the U.S. company as the "stalking horse" bidder. The Chinese company announced its intention at a court hearing yesterday following A123's filing for Chapter 11. At the hearing, A123 won approval to borrow up to $15.5M in interim financing from Johnson Controls. [View news story]
    JCI should be considered the preferred acquirer as they are US company and the US govt has paid for the technology. Shareholders and creditors should also be given appropriate consideration in the final deal.
    Oct 20, 2012. 03:27 AM | Likes Like |Link to Comment
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