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Good Captain

Good Captain
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  • Why Municipalities, Large Cities, And Corporations Are Ready For Abtech [View article]
    OT question for you. Do you have any inkling whether the SPONGE works or could be oriented towards runoff from farms and livestock ranches? This might help diversify their focus away from regulatory requirements onto an even greater public good IMO.
    Aug 24, 2012. 09:48 PM | 1 Like Like |Link to Comment
  • Bad News: European Banks Have €1.5 Trillion In Nonperforming Loans [View article]
    Modern western civilization's Achilles' heel is its unwillingness to face up to problems and take steps (sometimes painful) to remedy them.
    Aug 20, 2012. 08:29 PM | 1 Like Like |Link to Comment
  • The ECB is considering capping peripheral bond yields by stepping in to buy the debt when its spread to German paper rises above a certain threshold, reports Der Spiegel. Draghi has complained that monetary policy transmission is broken, i.e., the ECB eases yet financial conditions tighten further in the periphery - this gives him his opening to buy government debt. A decision could come at the bank's September policy meeting. [View news story]
    Looking back at the past 12 months or so, Mario's comments are almost to be expected. Although his power in fact is ultimately determined by the Germans, his word still carries hope to many. His problem is in the durability of his words to instill and maintain confidence attrites by the week. W/in the next 24-48 hours look to someone w/ authority in the German government to roll-back Draghi's declaration in part, or in whole.
    Aug 19, 2012. 09:26 PM | Likes Like |Link to Comment
  • Ford Vs. General Motors: An Investment Analysis [View article]
    It has been written that GM's accounting practice recognizes sales at or around the time a vehicle hits the dealer lot (channel stuffing). I am unaware whether or not Ford's accounting practices view sales similarly. If what I have read is true, I think your analysis (related to sales) needs to go deeper to gain a clearer perspective of the companies relative value.

    Furthermore reports of regular shake-ups in executive management at GM, some w/ tenure best measured in days, give a strong hint (to me at least) that GM is troubled and a significantly higher investment risk than you suggest. I have no direct financial interest in the auto industry and as a US citizen, would like to see GM re-emerge as a strong player in the industry.
    Aug 19, 2012. 01:54 PM | 3 Likes Like |Link to Comment
  • Problem solved. The Treasury issues funding rates allowing pensions to use a 25-year historic average (rather than a shorter time frame) of corporate bond rates to calculate expected future returns. The move adds about 200 bps to the average effective rate, allowing fund sponsors to cut contributions as much as 20%. [View news story]
    Defined pension benefits are on the decline but they still exist in many union-dominated industries and government. Clearly these plans today are unreliable at best and likely unsustainable w/out major changes, including altering existing plans to defined contribution plans for all newly hired and future employees.
    Aug 18, 2012. 01:41 PM | 1 Like Like |Link to Comment
  • Recession's Key Ingredient Added [View article]
    Thank you Markos for focusing attention on underlying fundamentals. I am surprised how few commentators countenance, much less analyze, the dynamic driving 70% of the economy in favor of QE and other technical analysis. All factors will affect economic performance but not all carry the same impact.
    Aug 11, 2012. 12:46 PM | 1 Like Like |Link to Comment
  • It was bound to happen eventually: Zynga (ZNGA -2.7%) and its underwriters have been hit with a class-action suit over the huge insider sales conducted through an April 3 secondary offering, Those sales happened at $12 - Zynga is trading at 1/4 that level following a brutal Q2 report. However, as Dan Primack points out, the plaintiffs' case is hurt by the fact Zynga delivered a Q1 beat following the offering.  [View news story]
    Interesting. I wonder when the FaceBook suits materialize?
    Jul 31, 2012. 04:16 PM | Likes Like |Link to Comment
  • The Fantasy Keeps Growing [View article]
    Compare this situation to that of a fault line. The pressure continues to build and once the fault breaks loose, nothing will stop it. When it happens, no one knows but we know a correction this way comes.
    Jul 30, 2012. 02:02 PM | Likes Like |Link to Comment
  • The Fantasy Keeps Growing [View article]
    But is it a profitable company Jeff?
    Jul 27, 2012. 04:28 PM | 8 Likes Like |Link to Comment
  • Tesla's Balance Sheet Is Worse Than I Expected [View article]
    Given the numbers, management's only prudent action requires additional financing. While it's possible such a refinancing would have no material impact of shareholder value, I believe one would be foolish to expect such an outcome.

    If it's straight debt, then almost certainly, they will need to take out existing debt holders. Depending on deal terms, this may or may not be onerous to equity investors. I suspect, however, that the sale of additional stock will be required and barring a stock price above market, this will (at least in the immediate aftereffects) reduce share value. Obviously terms of the deal would answer by how much.
    Jul 27, 2012. 03:36 PM | 1 Like Like |Link to Comment
  • A $2 Turnaround Story That Deserves A Hard Look [View article]
    Thanks for the clarification Bret!
    Jul 24, 2012. 12:19 PM | Likes Like |Link to Comment
  • Start-Up Growth Engine: Heckmann, Where's The Love? [View article]

    Do you have any thoughts relative to potential competitive threats of "conventional fracking" companies relative to "clean fracking" companies that substitute LPG distillates for water in the fracking process? The clean crackers admit more upfront expense but claim higher recovery rates while avoiding need of outside water.
    Jul 16, 2012. 03:00 PM | 1 Like Like |Link to Comment
  • Is Europe's Decline Ready For A Fall? [View article]
    Interesting points World, but IMO the more relevant and nasty questions related to the Euro is whether the current Euro is sustainability and if so, in what form?
    Jul 16, 2012. 08:34 AM | 1 Like Like |Link to Comment
  • Goodyear: A Dirt-Cheap Stock With Major Upside Potential [View article]
    If not common or preferred, what is left?
    Jul 15, 2012. 09:47 PM | Likes Like |Link to Comment
  • 2 Beaten Down Stocks Under $5 That Have Attracted Recent Insider Buying [View article]
    Thanks Russ! Good thoughts.
    Jul 14, 2012. 03:33 PM | Likes Like |Link to Comment