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385082

385082
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  • Yahoo's Cashless Spin-Off Has Strong Business Purposes: Employee Options And Merger Currency [View article]
    PayPal was an operating company. Alibaba is a stock investment. Big difference.
    Aug 2, 2015. 11:45 AM | Likes Like |Link to Comment
  • Jakks Pacific: Inventory Catalog And New Oversight To Drive Valuation To Meet Peers [View article]
    The only issue here is that if you're using a PE multiple to value this stock, it is helpful to know that $.13/share in both 2014 and 2013 was the result of this non cash "income".
    May 18, 2015. 08:30 PM | Likes Like |Link to Comment
  • Jakks Pacific: Inventory Catalog And New Oversight To Drive Valuation To Meet Peers [View article]
    F/N 5 in the 10K:
    In July 2012, the Company acquired all of the stock of Maui, Inc., an Ohio corporation, Kessler Services, Inc., a Nevada corporation, and A.S. Design Limited, a Hong Kong corporation (collectively, “Maui”). The cash consideration totaled $36.2 million. In addition, the Company agreed to pay an earn-out of up to an aggregate amount of $18.0 million in cash over the three calendar years following the acquisition based upon the achievement of certain financial performance criteria, which was accrued and recorded as goodwill as of December 31, 2012. In 2013 and 2014, Maui did not achieve the prescribed earn-out targets, therefore $6.0 million and $5.9 million, respectively, was recorded as other income. The remaining earn-out payment for 2015 of $6.0 million is included in accrued expenses in the amount of $5.3 million. Maui is a leading manufacturer and distributor of spring and summer activity toys and impulse toys and was included in the Company’s results of operations from the date of acquisition.
    May 18, 2015. 08:23 PM | Likes Like |Link to Comment
  • Jakks Pacific: Inventory Catalog And New Oversight To Drive Valuation To Meet Peers [View article]
    I started looking at jakk and was troubled to see that the 2012 acquisitions' contingent earnout payment liabilities were recorded as goodwill but when the earnouts were not achieved rather than write off goodwill they recorded 6 million of other income in each of the last 2 years.
    May 18, 2015. 06:19 AM | Likes Like |Link to Comment
  • Freeport-McMoRan Digs Deep With Cash Flow Generation Focus [View article]
    Thanks for the analysis and I like the stock at the right price but ...now without dividend support, hard to believe FCX will hold at this level with the next wave of market/oil price softness.
    Mar 28, 2015. 08:19 AM | 1 Like Like |Link to Comment
  • Ulta Salon, Cosmetics & Fragrance - Everybody Likes It [View article]
    I like the stock but your comment of 2,100 stores by 2019 is way off base.

    They have repeatedly said they plan to add about 100 stores per year.

    They have said they expect to have a store base of 1,200 by 2019.
    Mar 8, 2015. 09:22 AM | 2 Likes Like |Link to Comment
  • Why Yahoo Needs The Alibaba Money To Improve In Mobile After Apple Ditches It [View article]
    I believe Yahoo is required to sell only a portion of its alibaba holdings. They may have 12 bil. of cash after tax from the sale.

    The remaining Alibaba shares will represent less than 20% of Alibaba ownership meaning Alibaba earnings will no longer flow to the income statement as equity income.
    Jun 28, 2014. 02:58 PM | Likes Like |Link to Comment
  • Yahoo outperforms following BofA/Merrill note, CFO talk [View news story]
    has anyone at yahoo ever discussed a shareholder distribution of the Alibaba shares?

    I would think it would be more tax efficient especially for shareholders who are either not taxable or are holding yahoo shares in a tax free account.
    Mar 9, 2014. 10:08 AM | Likes Like |Link to Comment
  • Is Yahoo Undervalued? [View article]
    A question for any corporate tax experts out there.

    I have a small position in yahoo in a roth account and am wondering if yahoo can avoid corporate level taxes if they distribute the alibaba stock as a dividend to yahoo stockholders when alibaba becomes a public company.
    Aug 18, 2013. 01:44 PM | Likes Like |Link to Comment
  • LeapFrog's Threats And Opportunities Are Widely Misunderstood [View article]
    I have a small position in this company but I disagree with the thesis that this is a value play. On the last conference call, management said they were using a 37% effective tax rate for modeling purposes. I know there is some amount of NOL still to be used but in 12-18 months when that has been utilized, future earnings will be taxed at normal rates. If you apply 35% to 2012 operating earnings, the stock is trading around 15X trailing earnings right now.
    Mar 3, 2013. 07:52 AM | Likes Like |Link to Comment
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