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MathStar's 10K: Value Proposition Update

Dear G - In my opinion, MATH Board rejected the merger offer because the offer was made by an unsuitable company. I dont believe that MATH will liquidate without a fight. If you go to the June 26, 2008 presentation (in an 8-K filed on the same date), you will notice the details into which this CEO goes to show us why liquidation is not a good strategy. So he might have hired the investment banker to find an acquisiton or rubber stamp whatever he wants (who is paying the investment banker, the Company or shareholders?). If we see the next announcement from the company that it has concluded a liquidation, you can be sure that it was because large shareholders went and threatened a proxy fight. These managements and Boards tend to be fairly shameless when it comes to holding on to other peoples' money....

FF

The Ten Most Promising Net Cash Stocks

Why dont you have a holding in any of these if they are such great values? Care to explain?

David Einhorn’s Top Three Stock Ideas

While I completely understand why folks pay attenton to 13F filings and use them as screening tools, the fact that we do validates the noton that investors generally act like lemmings.....

Why Is Chapman Capital Being So Quiet?

Hi G -

I can think of a good reason why we havent heard from him in a while. Chapman Capital LLC holdings (according to Forms 13F-HR) went from $327 million on March 31, 2007 to $9.6 million on September 30, 2008.

Trident Microsystems: Still Dateless for the Ball

longhaul - why 90 cents? why not 60 or 20 cents? how do you come up with the threshold? If, as you say, that mgmt will milk it down to zero, then it is expensive at any price, no? BTW, Spencer Capital is nominating 2 Board members. I cant understand how that will make much of a difference since there is a staggard Board here and utterly shameless management. I also havent figured out how they made such an announcement without filing a 13G or 13D (not that they are required but you would think that they would at least show a 5% ownership before opening thier mouth).


On Mar 01 11:51 AM in4thelonghaul wrote:

> One could easily assume another $15 to $20 million burn for the current
> quarter..this company is dead, with mngt. just milking it to the
> very end.
>
> Without some game-changing catalyst, I wouldn't even look at this
> unless it was selling for 90 cents p/sh or less.

A Bailout for Berkshire?

Atta Boy! You really caught that sneaky Warren trying to make a few bucks on our backs. Afterall, he can really use the money, given his puny net worth. Well Done.

Shopping During Armageddon

On a somewhat different subject - my sense is that today, hedgies will be desperately trying to prop up (aka mark) thier long holdings (especially in less liquid stocks) to window-dress Q3 results. Might be a good day to off load whatever toxic waste you might have in your portoflio.......

Macro: How Bankrupt Financials Will Impact Connecticut, NJ [Housing Tracker]

Agreed - How to play it - some REITs with mucho exposure to NYC
SLG, VNO, BXP and BPO (Good luck finding a borrow....)

Ticketmaster Loses Its No. 2 Customer to Competitor Live Nation

this is from TKTM's SEC filing - Not sure why the market was taken by surprise by the announcement.....

"Securing the right to sell tickets depends, in substantial part, on the ability of our businesses to enter into, maintain and renew client contracts on favorable terms. Revenue attributable to our largest client, Live Nation (including its subsidiary, House of Blues), represented approximately 17% of our total revenue in 2007. This client relationship consists of four agreements, two with Live Nation (a worldwide agreement (other than England, Scotland and Wales) that expires on December 31, 2008, and an agreement covering England, Scotland and Wales that expires on December 31, 2009) and two with House of Blues (a U.S. agreement that expires on December 31, 2009, and a Canadian agreement that expires on March 1, 2010). Revenue attributable to the worldwide agreement and the agreement covering England, Scotland and Wales represented approximately 11% and 3%, respectively, of our total revenues in 2007. Each party has the right to terminate the agreement covering England, Scotland and Wales as of December 31, 2008, in which case Live Nation would be obligated to pay us a termination fee in an amount equal to 1.25 times the average of our annual net profits under the agreement for 2007 and 2008. We anticipate that none of these agreements will be renewed. In addition, Live Nation has publicly announced that it will launch its own ticketing business in 2009 and that it intends to ticket Live Nation events and compete with Ticketmaster for third party clients. "