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Randy Sommovilla

Randy Sommovilla
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  • N.Y. judge lets Chevron bring fraud claims against Patton Boggs [View news story]
    I admire Chevron's tenacity in fighting back against fraudulent extortion by litigation. Chevron's lawyers will have a field day with discovery which will no doubt yield embarrassing information not only about the firm, but also its clients and the politicians and regulators it lobbies.
    It couldn't come at a worse time for the firm. This will surely throw a monkey wrench into its life line pursuit of a merger with much larger Squire Sanders.
    Mar 31 10:11 PM | 5 Likes Like |Link to Comment
  • Is IBM The Apple Of Enterprise Computing? [View article]
    I agree that there is "nothing wrong with increasing earnings per share". But there is something wrong when that increase is solely attributable to buybacks especially when executed at all time highs in the share price. Increasing earnings per share when actual earnings are flat or declining is sheer and misleading folly.
    Dec 6 11:29 AM | Likes Like |Link to Comment
  • Ford recalls Escape SUV for 7th time [View news story]
    When will heads begin to roll?
    Nov 26 12:56 PM | Likes Like |Link to Comment
  • Ford To Fund Its Pension Fully By Mid-Decade [View article]
    Only if private defined benefit plans continue to fail. And, if the shortfall is not made up gradually by the remaining healthy defined benefit plans, I wouldn't be surprised to see political pressure mount for the PBGC to increase the premiums that healthy plans pay.
    Even though Detroit is a public employer plan, it will be interesting to see what happens with its plans. The problems of private plans pale in comparison to public plans. I guess the only positive thing to emerge is some public awareness of the problems. Maybe I should say increased public cynicism.
    Jul 29 01:11 AM | Likes Like |Link to Comment
  • Ford To Fund Its Pension Fully By Mid-Decade [View article]
    ERISA created the Pension Benefit Guarantee Corporation. The pension benefits it insures ARE NOT funded by tax revenues. The funds needed to guarantee and pay beneficiaries of bankrupt defined benefit plans come from premiums paid by solvent companies that have defined benefit pension plans. Taxpayers are not on the hook for anything.
    Jul 27 10:17 PM | Likes Like |Link to Comment
  • Ford To Fund Its Pension Fully By Mid-Decade [View article]
    A little analytical thought might help tc. The federal government's losses on its ownership of GM stock will be substantial. It will break even when the stock hits $95.8/share. It trades today at $36 and the Treasury intends to sell it at a loss as it has already done on previous sales. It still holds 189 million shares. With a current $60 disparity, taxpayers are on the hook for over $11 billion.
    A rose by any other name is still a rose. So too are government subsidies.
    Jul 26 02:19 PM | Likes Like |Link to Comment
  • Ford To Fund Its Pension Fully By Mid-Decade [View article]
    And our government picks up the tab for GM.
    Jul 25 09:58 PM | 2 Likes Like |Link to Comment
  • Commodities Today: 5 Stocks To Avoid Based On Recent News [View article]
    It looks like Jim Cramer is a summer soldier and sunshine patriot. After touting LINE for years, praising its shareholder friendly and extremely competent management, the company's hedging and acquisition strategies and the strength of its assets, he put a sell on it in last night's show calling the SEC's inquiry an "investigation" into "accounting irregularities". I do not believe the SEC called its action an "investigation" into "accounting irregularities", terms that carry suspicious and sinister connotations. Although I do like his show, Cramer should be more careful of his choice of words because they do have consequences and probably contributed to today's further decline in LINE's stock price. Perhaps his comments reflect a paranoiac fear of being snookered like he was by Aubrey McClendon and Erikson Air Crane.
    Jul 3 11:59 AM | 8 Likes Like |Link to Comment
  • GE Healthcare Targets Growth Markets And New Technologies To Drive Sales [View article]
    No, I wasn't aware. I saw Matrix but wasn't so enthralled to be interested in the sequels. But, it doesn't improve the overall impression. It's still a terrible theme and I'm not sure how many people recognize its origin. To me, GE has been the icon of American ingenuity and manufacturing prowess and the ad tarnishes that appeal. Thanks for letting me know.
    May 20 06:08 PM | Likes Like |Link to Comment
  • GE Healthcare Targets Growth Markets And New Technologies To Drive Sales [View article]
    One thing GE could do in its health care business is to pull its obnoxious and off-putting commercial with an espionage motif. An actor dressed in black with sunglasses, a sleazy voice and arrogant gait is hardly an attractive or positive image. Rather, it projects a sneaky, less than honest, and secretive image. Compare it to Seimans ads. As a long time suffering shareholder, the ad is almost enough to make me sell. I have to question the judgment of its marketing team. If this is the best its marketers can do, what does it say about the rest of management?
    May 20 04:06 PM | 1 Like Like |Link to Comment
  • 4 Reasons Why General Electric Is Now One Of The Most Shorted Dow Stocks [View article]
    I'll add a fifth reason---the obnoxious and grating espionage themed medical software/devices commercial it has been running incessantly for the last month or so. It is simply an off-putting example of extremely bad taste and projects a sleazy, sneaky and underhanded image. It's almost enough to make me sell a position in GE that I have held for 15 years. The marketing/advertising geniuses who created and approved this commercial should be exiled to matchbook advertising. It's hard for me to believe that higher level executives who have seen it haven't pulled it from the air. My confidence in GE management ahs evaporated.
    May 6 03:26 PM | 1 Like Like |Link to Comment
  • GE Capital (GE +2.5%) cuts off lending to gun shops in response to public backlash since the Sandy Hook shootings. Though the company isn't the first financial firm to back away from involvement with the gun industry, the development puts the spotlight back on sellers such as Dick's Sporting Goods (DKS -0.4%), Wal-Mart (WMT -1.2%), and Cabela's (CAB +0.9%) which could see more foot traffic. It's also of interest to gun manufacturers Smith & Wesson (SWHC +0.8%) and Sturn Ruger (RGR -0.8%) - wallowing around with relatively low P-E ratios with future demand tough to forecast. [View news story]
    Immelt is a politically correct sycophant. If he paid more attention to growing the business, maybe I'd get back to even on my GE holdings.
    Apr 24 10:40 PM | 5 Likes Like |Link to Comment
  • Heinz Debt: Worth Its Weight? [View article]
    Fris (the name is too long)--I doubt that the doom and gloom you predict will happen with Heinz,. You are absolutely right on everything you say about corporate raiders. Once again, Buffet has made another debt,- preffered - common stock deal that saddles a company with a huge preferred payout.
    I have nothing but respect for Buffet's deal making ability. But, why is he the financial darling everyone thinks he is? At times he seems like he is above reproach like Caesar's wife. I love his sense of humor, his humble demeanor (if it is real) and his plain life style. The fact is that he is the superman of investing. Is there another investor who has escaped the scorn that the American public generally holds for large scale investors?
    Feb 18 02:25 PM | 1 Like Like |Link to Comment
  • Nothing Can Stop Altria [View article]
    Smokeless products carry less of a social stigma?? What about the spittle? Maybe there is less of a stigma because the use is relatively well hidden.
    Feb 11 07:44 PM | Likes Like |Link to Comment
  • Chesapeake Energy (CHK -1.2%) has been given permission to frack for natural gas just one mile away from First Energy's Beaver Valley nuclear power station in Shippingport, Pa. State regulators say there are no required setbacks specifically relating to a required distance between unconventional wells and nuclear facilities. [View news story]
    I'm all for fracking, but the absence of any required setbacks from nuclear facilities certainly doesn't mean fracking close to nuclear plants is safe. I hate to say it, but the greenies might be right on this issue.
    Oct 26 03:30 PM | 1 Like Like |Link to Comment