DM32

Penn West: Distribution at Risk

I seem to recall that PWE has always provided guidance on distributions a few months at a time, so I did not read anything unusual into the last announcement. According to the Q2 report from PWE which I received today, distributions as a percent of cash flow from operating acivities for the 3 mo. ending June 30, 2009 were 64% vs 57% during the same period in 2008. This would suggest that the current payout is not unsustainable particularly if commodity prices continue to firm up and/or rise. From Q1 to Q2 crude prices increased from US $43.21 to US $59.62 so they are heading in the right direction. The question is sustainability of the increase in oil prices and that will be a function of the world economy -- and that is anybody's guess given all the government intervention that just serves to cloud the picture. Just based on the fundamentals from Q1 to Q2, I would not be anticipating such a drastic cut in the distribution (50%) but the analysts may have more information from the Company than we do.

Searching for Financially Sound Equity REITS

I calculated the LT debt / total for GKK to be 72% for Q1 per the data in Yahoo Finance using the formula: Lt debt / total liabilities + stockholders equity. Something doesn't add up. Any thoughts?

Repaying TARP and the Myth Behind 'Taxpayer' Money

Bulls eye -- you could also add Fannie and Freddie to the list of government run basket cases.

Opportunities for Tech Dividends

You may note that MOT suspended its dividend this year.

'Uniquely American' Is Code for Killing Healthcare Reform

It is never right for one person to reach into the pocket of someone else in the name of social justice. The real questions are "Where does it end?" and "Who has the right to take over 50% of another persons income to pay for all this government largess?" The answers are "Never" and "Nobody"! I think healthcare reform would be great if it wasn't code for government run and subsidized healthcare.

It Could Happen - Cramer's Mad Money (9/26/08)

Our political leaders- both Rebublicans and Democrats, with very few exceptions should be swept out with the biggest broom the voters can find. They collect $3 trillion in taxes and have managed to create $50 trillion (at least) in debt and unfunded liabilities and some want to raise more taxes. They must first provide total visibility on where the $3 trillion in going and how much is being wasted. What we are going through right now is only the tip of the iceberg. Remember, we are the co signers that provide the "full faith and credit" of the U. S. Government. When they finally realize they cannot get it from raising taxes, they will begin to seize assets. Take AIG. They did that deal it in the name of protecting taxpayers, but have totally wiped out the equity of the shareholders. I wonder how many of those people were taxpayers and now their near worthless assets are in the hands of the government.

It Could Happen - Cramer's Mad Money (9/26/08)

Cramer is the image Wall Street greed -- take profits when things are good and run to the government to bail him and his buddies out when things go south. He is a trader and not an investor although he can be good for a few laughs -- just not for sound financial advice.

The WaMu Mess: No Surprise Here

I have written twice to the Board in the last six months expressing exactly the same sentiments as Mr. Hill. Of course, I received the standard response: blah, blah, blah, etc. While they have made what I would call cosmetic personell changes, the real change must be made at the CEO level and not just taking the Chairman title away -- just another cosmetic change. This Board truly has its head where the sun don't shine. The only thing that could posess a Board to act this way, i.e. do nothing in the face of such miserable performance, is that Mr. Killinger must be in posession of the negatives or in more modern terms, the flash cards that hold the pictures!!

AT&T - Dividend Analysis

PS -- it was also the original AT&T that did the reverse stock split.

AT&T - Dividend Analysis

Its important to remember that the current AT & T is actually the former SBC, which adopted the name after buying AT & T and Cingular (formerly AT&T Wireless) in separate transactions. It was the original AT&T that spun the cable assets, the wireless business, Lucent and other businesses. Very confusing and probably why the original AT&T no longer exists.

AT&T - Dividend Analysis

Dividend Growth Investor: Valueline requires a subscription, but most public libraries have hard copies in the reference section. I tried to embed the report in this post but it didn't work out. The report that I referenced was from June 27. All the actual data from 1992 - 2007 and estimated 2008 and 2009 is laid out in a single page format.

AT&T - Dividend Analysis

I use Valueline and cannot confirm the EPS, DPR and ROE numbers that you presented. According to VL, the EPS has been steadily increasing since 2004 after peaking in 2001 and declining in 2002 an 2003. The 2007 EPS number of
$2. 76 is also calculated on outstanding shares of 6B vs. 3.9B in 2006. DPR has steadily declined from an unsustainable high of 90% in 2003 to a very manageable 51% in 2007. Likewise, ROE, while well under historical late 90s and early 2000 levels was 14.8% in 2007, up from 7.8% in 2006. What source did you use for your numbers?

Washington Mutual Shareholders Demand Accountability

Yes, shareholders are demanding accountability. However, if it was really being delivered, more of the management (including the CEO) and Board members would be gone by now.

It appears strange to this shareholder that the only fatality from this debacale is one Board member, but no senior executives who are actually charged with running the business. They need a MUCH BIGGER broom.