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losbronces

losbronces
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  • Wall Street Breakfast: Must-Know News [View article]
    Getting off after landing isn't anything close to getting off after an emergency landing. All the exits are open, no one is taking their bags out of the overhead bins and people have a sense of urgency. Huge difference.
    Jul 8, 2013. 10:47 AM | 6 Likes Like |Link to Comment
  • Here's Why Linn Energy Isn't Done Dropping [View article]
    In my opinion, it is the structure of the BRY deal that is the largest problem here. LNCO as a C-corp that exists only to receive payments from LINE is also strange and I don't see how LNCO can pay a dividend equal to the LINE distribution as they have been doing (and planned for July).

    There may be some other bargains in oil & gas E&Ps right now as a result of these problems as they are all being taken down. None of the others have initiated a parallel C-corp structure that I am aware of.
    Jul 5, 2013. 11:49 AM | 3 Likes Like |Link to Comment
  • Banco Santander (SAN) has filed to list its car-loan unit Santander Consumer USA as the Spanish banks looks to continue to boost its balance sheet. Santander owns 65% of the subsidiary, while KKR (KKR), Centerbridge Partners and Warburg Pincus own the rest. No details were provided about the timing of the IPO, the valuation or the size. [View news story]
    Well, it used to be a $16/share stock before problems in Spain began in earnest. Dividends vary by quarter, here is a history from their website: http://bit.ly/12hlMwU.

    I take the scrip dividend, additional shares with no Spanish taxes due.
    Jul 5, 2013. 11:43 AM | 1 Like Like |Link to Comment
  • Here's Why Linn Energy Isn't Done Dropping [View article]
    Yes, its getting destroyed again today. Down another 8% right now and it was lower.
    Jul 5, 2013. 10:12 AM | Likes Like |Link to Comment
  • Forget Egypt And Short Crude Now [View article]
    Some oil (about 2% of world supply) does pass through the Suez canal. Not really all that significant imo.

    As always, be careful shorting oil. Oil price can be impacted quickly to the upside by relatively minor events such a pipeline blown up in Nigeria or even last year's rumor (March 1, 2012: http://bit.ly/17OBy82, http://read.bi/17OBzJe ) that hit the internet about a terror attack in KSA. Please remember that supposed attack in KSA was a completely false story,even though it came complete with pictures at the time.
    Jul 4, 2013. 04:17 PM | Likes Like |Link to Comment
  • Banco Santander (SAN) has filed to list its car-loan unit Santander Consumer USA as the Spanish banks looks to continue to boost its balance sheet. Santander owns 65% of the subsidiary, while KKR (KKR), Centerbridge Partners and Warburg Pincus own the rest. No details were provided about the timing of the IPO, the valuation or the size. [View news story]
    Here is a link to reuters that can be read without a subscription (as opposed to the WSJ article): http://reut.rs/15iHW73
    
    Jul 4, 2013. 03:27 PM | Likes Like |Link to Comment
  • Banco Santander (SAN) has filed to list its car-loan unit Santander Consumer USA as the Spanish banks looks to continue to boost its balance sheet. Santander owns 65% of the subsidiary, while KKR (KKR), Centerbridge Partners and Warburg Pincus own the rest. No details were provided about the timing of the IPO, the valuation or the size. [View news story]
    It is being done to raise capital, not to unlock shareholder value. It will be interesting to see what the IPO price is.
    Jul 4, 2013. 02:35 PM | Likes Like |Link to Comment
  • A group of U.S. senators plan to put Smithfield Foods (SFD -0.2%) through the meat grinder before the company can have its acquisition by Shuanghui International approved. The group wants the Department of Agriculture and the FDA involved in the government review of the transaction to protect national security interests. Analysts think the deal will still fly, although they predict the review process could stretch out a few months. [View news story]
    And use the term "national security" whenever possible.
    Jun 20, 2013. 01:04 PM | Likes Like |Link to Comment
  • Obama "essentially fired Ben Bernanke on the spot," says ex-Fed Governor Larry Meyer, commenting on the President's remarks during an interview yesterday (he's stayed a lot longer than he was supposed to). Meyer also notes the "tepid" testimonial from the President following that line. "It's time to really now focus on who the next chairman might be." [View news story]
    I doubt that Paul Krugman has the temperament to do the job.
    Jun 19, 2013. 01:26 PM | 1 Like Like |Link to Comment
  • Obama "essentially fired Ben Bernanke on the spot," says ex-Fed Governor Larry Meyer, commenting on the President's remarks during an interview yesterday (he's stayed a lot longer than he was supposed to). Meyer also notes the "tepid" testimonial from the President following that line. "It's time to really now focus on who the next chairman might be." [View news story]
    Why not Paul Krugman? He is the guy who keeps saying print more and spend more. Seems like a perfect fit...
    Jun 19, 2013. 11:21 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Its only a reduction in "no admit, no deny" being accepted, not an elimination. The deals will continue to happen when neither party wants to go to litigation (weak evidence on the SEC side, unwanted attention on the other side).

    Even if they increase the number of deals, they can declare a win (e.g., we brought more cases so deals are up; we reduced the percentage of cases resolved by making deals; we reduced the number of deals (which could happen by reducing the number of cases made). Very much a non-event imo. 
    Jun 19, 2013. 08:36 AM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    My option will be to take another plane. As the airlines themselves say, we have many options for our flights and Dreamliner sounds more like a nightmare to me.
    Jun 18, 2013. 02:40 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Does anyone really want to fly on a plane with 329 other passengers? More time to load, unload, more center seats. Not something I would be looking for as an airline customer.
    Jun 18, 2013. 08:23 AM | 12 Likes Like |Link to Comment
  • Peter Schiff Has It Totally Backwards - Gold Is Not Going 'To The Moon' [View article]
    For an alternate opinion on the short-term direction of gold price by HBSC: http://bit.ly/18ICFcS
    Jun 14, 2013. 10:45 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Thanks, that is certainly a plausible explanation.
    Jun 13, 2013. 10:09 AM | 1 Like Like |Link to Comment
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