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Denny_Chasteen

Denny_Chasteen
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  • Netflix: Prepare For Extreme Spin [View article]
    Maybe try using put spreads.
    Apr 23, 2012. 08:15 AM | Likes Like |Link to Comment
  • CME Silver Stocks At An All-Time High, Or Are They? [View article]
    Awesome comment, FMOTL I am LMFAO.

    To Caymagnate, there is a lot of manipulation. But just ask the Hunt brothers, it's hard to corner the market even on something with such limited supply as gold and silver. Even though it's already out of the ground.

    The price of oil is determined for by supply, demand, risk, taxes, regulation and ROI. Risk, taxes, regulation are the biggest factors. Manipulation, profit and ROI play about a 10% role in the cost.

    It always amazes me that someone can focus on only one component of a complex system of inter-related moving parts and place all the negative outcomes on just one causal component.
    Apr 21, 2012. 12:03 PM | 1 Like Like |Link to Comment
  • CME Silver Stocks At An All-Time High, Or Are They? [View article]
    It costs only $3 to extract a barrel of oil in Saudi Arabia. The cost is not relevant to the market price because it is determined by supply and demand.
    Apr 20, 2012. 04:08 PM | 3 Likes Like |Link to Comment
  • Sprint Ready To Break $4 In 2013 [View article]
    The more I learn about this tax situation the less I like Sprint as an investment. As one commenter said on another post, "State goverments all over the country will now go on a feeding frenzy." I can add to that thanks to many special interests for "chumming" up the water. But now that there is blood in the water it's only prudent to go fish someplace else.
    Apr 20, 2012. 09:14 AM | Likes Like |Link to Comment
  • Can Sprint Survive? [View article]
    But in the longer term, I think Sprint can grow and compete. It will take the company three to five years to build up to a decent ROI. One caveat, if interest rates go up significantly in the next two years, that's when the drain becomes completely unplugged. Barring a takeover by a company with a strong balance sheet, they are doomed.
    Apr 20, 2012. 09:08 AM | Likes Like |Link to Comment
  • Sprint (S -4.4%) responds back to allegations it owes New York more than $300M in unpaid taxes and penalties. "We have collected and paid every penny of sales tax owed to New York." [View news story]
    Yea and when the hippie needs a new "weed guy" he can call an unemployed cop.
    Apr 20, 2012. 09:02 AM | Likes Like |Link to Comment
  • Can Sprint Survive? [View article]
    No. Here is what will happen. We will see series of downgrades by analysts. A lot of "sell" recommendations. You will also at least 3 or more institutional investors quietly close out their positions. This will happen over the course of maybe the next 2 months.

    Then it's a buy. Right now, no way. Every time a major analyst comes out with a downgrade or forms are filed with the SEC that show institutional selling, it will ratchet down.

    If Sprint were to take the course of action that I outlined and get ahead of the PR mess then the damage could be mitigated. But even then, it's a two or three month buzz kill at best.

    Plus you can bet that Hesse is going to make this into a bigger mess with his abrasive way of dealing with everyone.

    As Cramer says, "Sell, Sell, Sell!!" Hit the train wreck button and the dive button at the same time. Of course Cramer has been saying "don't touch it" for the past several months now.
    Apr 20, 2012. 08:55 AM | Likes Like |Link to Comment
  • Can Sprint Survive? [View article]
    Here is the right course of action for Sprint:

    The NY False Claims act was effective August 27, 2010. That is the earliest date in which penalties can be assessed legally. (per ex post facto law). So right off the bat, S is not liable for $300M. This is a bogus claim of harassment with malicious intent filed by an out of control state government in NY. Anyone who thinks the CWA is not orchestrating this is naive and has no real experience working with union thugs and politicians.

    Number 1: Sprint must immediately remit taxes on the amount NY says they owe since the penalty and legal cost legislation was passed on August 27th, 2010. This will preclude any case for a penalty or legal fees on that amount. Well penalties may apply but it stops the legal collection cost issue. Then file suit in NY State court for a refund. Get on offensive. Get off defense. Also file a suit in Federal count that the NY state law violates the US constitution which designates the Federal government as sole authority over regulation of interstate commerce.

    Number 2: Send a letter to all Sprint Customers explaining the law suit. State in that letter the amount that each customer would owe in taxes and that Sprint has defended them against. State that Sprint stands solid behind the illegality of the law while AT&T and VZ were happy to just pass along those costs to you. Also state that if any customers disagree that the money is owed that here is the form in which you can remit your $532 payment. But strongly advise them not to pay it. State if it turns out you owe this money, we will pay it. State clearly that Sprint will never under any circumstances attempt to go back and collect those taxes from the loyal customer. "We appreciate your business and will honor the agreements and contracts we made with you past present and future. You will never be asked to pay any more than you have already been billed. That is our fair and honest commitment to you. We value your trust and your business and want to keep it." Then state that: "Sprint will honor the current prices on any services contracted to you in the past and that any new taxes will only be applied to future contracts. " They have to get ahead of those stupid class warfare and welfare democrats in NY who want to make Sprint out to be the bad guys here when the government is actually the only real thug here. NY government passed this excessive tax and now wants to blame Sprint for it.

    Number 3: Sprint, don't pay the $100M owed prior to 2010 under any circumstances. It can never grow any more than $100M because the 2010 law can not enforce any retro-active penalties or "ex post facto" penalties. Challenge this $100M and tie it up in court until Justin Beiber gets his first socialist security check in 2051. The legal costs can not be applied either since they were not provisioned until 2010. If the state proves you owe the money, then just consider it an "interest free" loan and negotiate the payment over the next 10 years. Isn't that the way our government pays for what they owe?
    Apr 20, 2012. 12:48 AM | 1 Like Like |Link to Comment
  • Can Sprint Survive? [View article]
    Like we say down south... "Their ass is on fire and their head's a catching."
    Apr 19, 2012. 08:40 PM | 1 Like Like |Link to Comment
  • Can Sprint Survive? [View article]
    S&P will factor this into their next analysis for sure. Throw the old analysis away and start over. Man this is $300M. That's a pile of money for Sprint. And it could be the tip of a Titanic scale iceberg. How many other states does Sprint owe similar taxes to? This could sink the company.

    When S&P did that evaluation, this information was not known or anticipated. It's what my boy Rumsfeld calls: "Unknown Unknowns."

    Re: http://bit.ly/I5Pgbb
    Apr 19, 2012. 06:17 PM | Likes Like |Link to Comment
  • Sprint (S -4.4%) responds back to allegations it owes New York more than $300M in unpaid taxes and penalties. "We have collected and paid every penny of sales tax owed to New York." [View news story]
    Hey, just because Greece, Italy, Japan and others pay high corporate taxes does not make it the right policy. Of course Obama's boy Imelt got GE out of paying any taxes. Just take a look at the 10-K report for Exxon Mobile. $52B in profits and $30B in taxes. True more earnings and taxes from foreign earnings and foreign countries, but it's a lot of tax to pay. Corporations do not pay taxes. Taxes pass on through to the consumers in the form of higher prices needed to generate the revenue to produce the ROI required to satisfy the risk to reward ratio for whatever business they are in. Why is that so hard for people to understand?

    Now you made a great point about if Sprint is right about their position, then VZ and AT&T are due back one hell of a rebate check. Of course these taxes were paid by their customers and would rightfully have to be rebated back to them. While S on the other hand, has no chance of going back to collect those sales taxes they failed to collect at the point of sale. Serious, serious blunder. Sprint has really screwed the pooch here.

    I checked and double checked on my own little business because my margins are less than state sales taxes rates. Even as I am just a dumb ass old country boy, I realized that if I owed sales taxes on my revenues, that I had better collect them otherwise I would be in serious trouble.

    A better question than the rebate issue is.... "How many more states does Sprint have this same problem with?" This could bankrupt the company in one fatal swoop. You can bet your ass the CWA is lobbying every state in the Union to jump on Sprint.

    Man, this is serious. It could be "lights out" for Sprint. Because if this thing has validity, it also has legs.
    Apr 19, 2012. 06:04 PM | Likes Like |Link to Comment
  • Sprint (S -4.4%) responds back to allegations it owes New York more than $300M in unpaid taxes and penalties. "We have collected and paid every penny of sales tax owed to New York." [View news story]
    Well, back up and look at the bigger picture here. Taxes are breaking American enterprise. This is $100M in taxes just for one state!!! Wow. If AT&T and VZ have been paying it, then Sprint is up the creek without a paddle. The suit was actually initiated by Empire State Ventures. I am not sure of any union connection there. However, my point was that this was not a "random" enforcement act. Both AT&T and VZ would have an interest as well as the CWA. As well as the taxpaying customers of AT&T and VZ.

    I would like to see it ruled as "interstate commerce" and declared that NY did not have the right to levy the tax. Unfortunately, it is not likely to go that way for the same reason that if I buy a shirt in NY and ship it to KY, I pay sales tax on it to NY due to the fact that the transaction was executed from in NY. However with an interstate communication device, I may be in MT and make a call to CA on a service plan that I purchased in NY. That is interstate commerce and states have no legal jurisdiction over it. Then what right does NY have to tax that transaction?

    So this was not random. I am just saying there was calculated motive by someone. Several parties have motive for this action against Sprint. And it may be justified in the end. But you have to believe the CWA is cheering it on and writing letters, calling politicians and applying their considerable influence in any way they can. Regardless of right or wrong, legal or illegal, the unions will side against Sprint and apply political influence against Sprint.

    Taxes, government, regulation and unions are a cancer on the economy. They suck the life blood out of it, destroying healthy cells and replacing them with a growing malignancy which is sloth, gluttony, envy, waste, and corruption. We have to purge our country of this cancer. Sometimes to kill cancer, you have to cut out some healthy cells too. If we want to survive, we have to take a meat ax to government regulations and spending at all levels.

    Oceanstats is the real culprit here. He got all this stired up with a simple one line question.
    Apr 19, 2012. 05:33 PM | Likes Like |Link to Comment
  • Netflix Says Net Neutrality Debate Just Got Real With Comcast [View article]
    Well, I walked down the hall and asked the smartest techno-nerd I know if he supports net neutrality. He said: "I do. That is what we had when the internet was originally developed." I said: "But yea, isn't that just anarchy? Anyone can do anything?" He said, "Yea, but it's the cool people who are in charge." We laughed like Beavis and Butthead for a minute.

    I say, watch out for Greeks bearing gifts and for nice government men who are trying to help make things more fair (regulations). The FCC is laying down a path to claim more and more control over the internet. Then we all get the Greek treatment if you know what I mean. Big government guys like Al Gore lining up behind us chanting: "We are from the government and we are here to help you."
    Apr 19, 2012. 12:49 PM | Likes Like |Link to Comment
  • Sprint (S -4.4%) responds back to allegations it owes New York more than $300M in unpaid taxes and penalties. "We have collected and paid every penny of sales tax owed to New York." [View news story]
    It's not random, Ocean. Union tactics are at play here. It's the corruption and infiltration by unions into New York's political system. The unions are in a full scale attack mode against Sprint and in particular now that AT&T contract negotiations are in progress and the union is working without a contract.

    Re: http://eyeonsprint.org
    Also: http://bit.ly/IBdwQq
    Apr 19, 2012. 12:34 PM | 3 Likes Like |Link to Comment
  • Netflix Says Net Neutrality Debate Just Got Real With Comcast [View article]
    Thanks. I see what you are saying. I am not a supporter of net neutrality.
    Apr 19, 2012. 12:15 PM | Likes Like |Link to Comment
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