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  • Wells Fargo next? Kovacevich blasts BofA settlement [View news story]
    "...They just bought companies that did wrong"

    When you acquire a company, you acquire its assets AND liabilities (financial and legal).
    Aug 21 09:32 AM | 4 Likes Like |Link to Comment
  • Investors lose interest in currency-hedged Japan fund [View news story]
    The withdrawal last week coincided with an earthquake in Japan.
    Jul 16 03:47 PM | Likes Like |Link to Comment
  • Morgan Stanley advisers green-lighted for Twitter [View news story]
    Still beats Wells Fargo (telegraph and stagecoach).
    Jul 1 01:25 PM | Likes Like |Link to Comment
  • Wal-Mart roundup: Annual meeting, high-level resignations, Sell rating [View news story]
    The $500M figure attached to this investigation continues to astound me. To put it in perspective, consider that the company has $45.3B in inventory on hand and 6,107 locations across the globe. Based on an average of $7.4M in inventory per location, this investigation has effectively represented the loss of 67 stores worth of inventory. Imagine how much more upset shareholders would be if 67 Wal-Mart locations had been looted with no repayment. Keep in mind that the $500M is only for the investigation, and not the effects and costs of alleged bribes themselves.
    Jun 5 08:51 AM | Likes Like |Link to Comment
  • Madison Square Garden gets an assist from Steve Ballmer [View news story]
    The key to these valuations is bringing forward the value of future broadcast deals. I've overheard guys from Guggenheim (Dodgers buyout) say their team is worth closer to $4B and that sports franchises in major markets are undervalued. I think you need a lot to go insanely in favor of the team to support such a price, but I think the Dodgers set the mark going forward for NYC/LA deals.
    May 30 11:06 AM | Likes Like |Link to Comment
  • Romance publisher Harlequin bought by News Corp. [View news story]
    An excerpt from the next book (once NWS editorial control appears):
    She eagerly looked into his eyes, hoping those three words would cross his lips. A brief pause. She inhaled in anticipation as he stepped forward. Eyes still locked, the words came like a waterfall that had been denied freedom too long. "Lower capital gains"
    May 2 10:32 AM | 1 Like Like |Link to Comment
  • Cargill unit reports big stake in Freddie Mac preferred [View news story]
    Symbol for this particular issue is FMCCH (CUSIP 313400855). Par value is $50.
    Apr 10 04:12 PM | Likes Like |Link to Comment
  • Wal-Mart bribery probe costs pile up [View news story]
    Nearly half a billion dollars?
    Mar 27 09:19 AM | Likes Like |Link to Comment
  • MasterCard Is Losing Momentum [View article]
    V and MA have a significant force working in their favor: the need to use small amounts of credit. Using bitcoin or other virtual currencies works fine as long as you are dealing in all cash transactions with parties who wish to use that currency. V and MA's main purpose is to facilitate the many small variables that accompany a transaction. If a customer wants to purchase on item on credit, a loan is needed. Either the merchant can sell on account (not a situation a merchant wants to be in), or be paid in full while the consumer secures a loan elsewhere. Mastercard is one of the companies that allow instantaneous loans to be made at the point of sale. Billing, collections, and the whole back office part of servicing the loan is handled by the payment networks and the banks making loans. These are not features seen with virtual currencies. The few times something like this is seen in virtual worlds, it is a more costly version of what V/MA have already built.

    Additionally, the ability to instantly convert currencies is something that MA/V networks are very adept at. If a customer wants to pay me in bitcoin, I need to want bitcoins in exchange in order to process the transaction. By introducing a bank, I can get paid in my local currency while the consumer is billed the equivalent amount in his own currency. The payment network of V/MA takes care of arranging a bank to make the conversion instantly at the point of sale. Should Bitcoin grow to be a generally accepted currency, it wouldn't take much to integrate it as just another currency conversion option in the V/MA networks.

    The point is that V/MA make all the extra contingencies of doing business seamless by integrating all the other services of the banking system.
    Mar 25 10:09 AM | 6 Likes Like |Link to Comment
  • Disney buying Maker Studios for up to $950M [View news story]
    Amazing considering DIS purchased LucasFilm (Star Wars) for $4 billion recently. A series of YouTube channels for 1/4 the price of Star Wars!
    Mar 24 10:09 PM | Likes Like |Link to Comment
  • Fox to bring Charlie Brown and friends to big screen [View news story]
    Keep an eye on Iconix Brands after this. They own the rights on Peanuts characters.
    Mar 18 01:04 PM | Likes Like |Link to Comment
  • Krispy Kreme Doughnuts misses by $0.01, misses on revenue [View news story]
    Increased share repurchases and giving the go-ahead for new store format after seeing test-location results.
    Mar 12 04:26 PM | Likes Like |Link to Comment
  • Biolase management faces proxy fight [View news story]
    BIOL did indeed hit $17.25 in 2004 (adjusted for BIOL's small split). It stayed at or above that level for much of the first quarter of 2004 and finally fell through it for good on April 24, 2004.

    Oracle Partners is the group that recently purchased shares in a private placement.
    Mar 11 09:18 PM | Likes Like |Link to Comment
  • Walter Energy: Weak Met Coal Market Remains A Hurdle In The Road To Recovery [View article]
    I stand corrected.
    Feb 26 01:41 PM | Likes Like |Link to Comment
  • Walter Energy: Weak Met Coal Market Remains A Hurdle In The Road To Recovery [View article]
    From the Q&A of last week's conference call, management indicated the primary sale (or joint venture) target is the Canadian assets. The port in Mobile was thrown out there as another item. Management said they are looking for better prices than what potential buyers have so far offered. The period to watch for movement on the sales/refinancing is June 2014, when the loan covenants come into play.
    Feb 25 02:16 PM | Likes Like |Link to Comment