malach hamovess

UBS Downgrades AutoNation: A Reason to Ignore Analysts

this is absurd. the company still sits with 1 billion of goodwill - the price in excess of assets paid in acquisitions.
to say that an auto dealership can make money in these days is sketchy; to say that it can make outsized profits to cut its debt is over the cliff

Did New Car Sales Bottom in November?

Unemployment is still rising; real credit is still being doled out a lot more judiciously; and the ups-and-downs of gas prices still troubles lenders' projections of residual values of low-mileage trucks & suvs. Add the end of "aspirational buying" as a means of self-expression and the greater availability of auto mechanics who've been laid off by dealers, and you find that more owners will hold on to cars that still run fine, and won't feel the need to buy just to prove something to their neighbors (especially the guy across the street who was just laid off by Citibank).

A return to 16million cars per year is a way off.

Eddie Lampert's ESL Holdings

Fast Eddie had one big hit - he scammed the bankruptcy court and raped the Kmart creditors.
Since then he's managed to plod along, accelerated the destruction of Sears, and otherwise accomplish nothing of merit.
All the while he's lionized for the one scam he pulled which had as much to do with running a hedge fund as with cheating at poker.