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Micah

Micah
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  • Seagate announces new $2.5B share buyback authorization [View news story]
    Nice buyback for a $19B company. STX is legit. Shares outstanding have already dropped by 100 million since 2011.
    Apr 23, 2015. 07:27 AM | 1 Like Like |Link to Comment
  • AutoZone's Buyback Report Card (Hint: It's An A+) [View article]
    I too admire the AZO buyback, but what is the end game?
    Apr 22, 2015. 07:06 AM | Likes Like |Link to Comment
  • PC sales fall sharply in Q1 [View news story]
    Agree Yav - I have two employees doing enterprise work on Chrome. One is a Chromebook, the other is a Chromebox. The Chromebox was $153. Comes with wireless keyboard and mouse and after you hook it up to two big display monitors, you have a full enterprise workstation for sub $300. We are full paid Google apps and most everything we do is through a browser. We use RDP to our data center and have full windows desktop through the Chrome browser for ERP and MS Office if necessary.

    I have no doubt this format is killing Windows and the traditional PC format. Chrome is following the old Aple playbook and is quickly becoming the primary device for the education market.
    Apr 10, 2015. 06:29 AM | 2 Likes Like |Link to Comment
  • Magazine piece catalogs NBC News problems; ABC takes ratings lead [View news story]
    Sounds like Jack Donhaty and Cabletown
    Apr 7, 2015. 07:48 PM | Likes Like |Link to Comment
  • Sears Holdings talks profits [View news story]
    oooo, an infographic, how cheeky.
    Feb 27, 2015. 05:22 PM | 2 Likes Like |Link to Comment
  • Sears mulling REIT for 200-300 stores; up 16% premarket [View news story]
    This is true - but don't forget the stock has had ~$25 in spin-offs as well, so there is not a direct correlation.
    Nov 7, 2014. 09:50 AM | 1 Like Like |Link to Comment
  • Sears Holdings: Non-Linear Thought From A Master Investor [View article]
    I have never seen a Kmart attached to a mall.
    Oct 30, 2014. 07:43 PM | Likes Like |Link to Comment
  • Ocwen bounces on settlement rumor [View news story]
    Only needs a triple to get back to it's 52 week high!!! (sigh)
    Oct 29, 2014. 04:28 PM | Likes Like |Link to Comment
  • Sears Holdings Poised To Rise Further [View article]
    I sold 25% of my position into this rally. I bought on the way down, so this was a good opportunity to reset my position and have a better cost base. I took a small tax loss and showing a 10% unrealized paper gain right now.
    Oct 27, 2014. 11:37 AM | Likes Like |Link to Comment
  • Sears Holdings: Non-Linear Thought From A Master Investor [View article]
    At Today's Market-cap, after you subtract the Lampert's 50% ownership and the Berkowitz near 25% ownership, there is only $750 million left.

    You know they are looking at this as a huge opportunity to concentrate their holdings.
    Sep 22, 2014. 09:33 AM | 1 Like Like |Link to Comment
  • Sears CFO Setting The Record Straight: 'Just The Facts' [View article]
    It is different due to the size and duration of the loan to $JCP. I would say the $JCP loan is much more risky to their equity holders than the $SHLD loan.

    Everyone assumes that Sears is going to fold up shop in 3 months and Eddie is going to walk away with 25 stores. I say that the probability of this happening is approximately zero.

    Funny, how the stores aren't worth sh*t to the bears until it looks like Eddie is trying to pull a fast one...now, all of the sudden, the top 25 stores are worth the entire market-cap at today's value.
    Sep 21, 2014. 01:16 PM | 4 Likes Like |Link to Comment
  • Sears CFO Setting The Record Straight: 'Just The Facts' [View article]
    As investors, you have to have faith in the leadership of an organization. Once again, here is the situation in their own words:

    when we fund our pension plan with payments of over $400 million this year, we are not funding “cash burn operating expenses.” Instead, it is a financing transaction in which we are honoring a legacy obligation. If we use debt to fund our pension, we substitute one form of debt for another. If we use proceeds from asset sales, we reduce outstanding obligations by the amount of funding. It is also worth noting, as Eddie points out regularly, that many other giants in the retail industry have no similar legacy pension obligations. We will have contributed over $2.9 billion to our pension from 2006 to 2014 as we indicated in our second quarter earnings materials...
    Sep 21, 2014. 01:09 PM | 3 Likes Like |Link to Comment
  • Sears CFO Setting The Record Straight: 'Just The Facts' [View article]
    A few additional points in the blog post that did not fit the author's thesis and were conveniently omitted:

    In 2013, as another example, this same large retailer executed a large real estate financing, secured by substantially all of its real estate portfolio. The five year $2.25 billion real estate loan has an interest rate of 6 percent with an upfront fee of 50 base points

    Again, contrast this to the collateral for the other large retailer real estate secured loan which is tied up for many years and represents substantially its entire real estate asset portfolio.
    Sep 21, 2014. 08:24 AM | 2 Likes Like |Link to Comment
  • Sears Holdings: Non-Linear Thought From A Master Investor [View article]
    In my backyard, there is an old Kmart store that was demolished and rebuilt as the biggest and busiest grocery store in-town with gas station and liquor store out-lots.
    Sep 19, 2014. 12:05 PM | Likes Like |Link to Comment
  • Sears Holdings: Non-Linear Thought From A Master Investor [View article]
    Agree Rube. He could reverse all of the losses this week and then some by announcing a simple $50 million purchase of the common. This is just pocket change for Eddie.
    Sep 19, 2014. 09:32 AM | Likes Like |Link to Comment
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