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4 Comments

    • WSJ Chooses Spin Over Precision [view article]
      I think you could say with equal accuracy "Gains were selective, with only 20 of the average's 30 components advancing on the day." Two thirds advancing on a 330 point day might not be selective but it's not widespread either. Aug 07 09:50 AM
    • Recommending GM: No, I'm Not Kidding [view article]
      Yes, GM is doing all the right things, but I think they are doomed. I’ll invest when they emerge from Chapter 11. Take a look at their balance sheet. We’ve got 5.4 billion in GMAC – auto, real estate, consumer loans etc.. To their credit, they’ve been writing that down, but with $4.00 gasoline, I’d value GMAC at approximately zero. Accounts receivable, 10 billion. Inventories 17 billion. Good luck with that. Equipment on operating leases is another 10 billion “asset”. How much of that is used to build trucks and SUV’s ?

      GM kept making large pieces of junk because they had to feed the unions or go bankrupt. It can’t do that any more, and the union will suck it dry. If GM had a credible plan for producing lithium batteries in the quantities required and if the Volt was being produced by non-union labor, there might be hope. As it is, zippo. Beaten up as it is, GM is a short.
      Jun 18 02:12 PM
    • New Flyer: Alternative Drive Systems Superstar [view article]
      In last November’s investor presentation, when the units appear to have been selling at about current levels, the company said they anticipated using excess cash to repurchase investor units because this could be done at a 17% discount to the market price. Like a callable bond, it’s all in the timing. That and their strike-prone workforce make me back away. Just my opinion - I didn’t spend a lot of time on this one and might be missing something. Jun 18 12:54 PM
    • How Does the Boycott Impact eBay? [view article]
      In the long run, the change is good for everybody. I’ve been shafted by so called PowerSellers more than once and felt helpless to ding the seller because of the certainty that I’d be dinged in return. As a result most of my buying has migrated to Amazon. EBay will be a busier, better place to do business if sellers feel compelled to describe merchandise accurately, and become more responsive to problems and buyers can count on ratings to mean something. Feb 24 10:30 AM
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