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7footMoose

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  • Top commercial cooking equipment maker Middleby (MIDD) is spending $380M in cash to buy Viking Range, maker of high-end residential cooking ranges, ovens, and appliances. Middleby claims Viking's products will complement its TurboChef, Jade, and MagiKitchn lines, which are partly sold into the residential market. Viking has ~$200M in annual sales. (PR[View news story]
    Isn't Viking a Berkshire Hathaway company?
    Dec 31 08:03 PM | Likes Like |Link to Comment
  • Congressional leaders yesterday agreed to an extension until September 30 of a farm law whose lapse tomorrow could lead to a doubling of milk prices by reviving a decades-old subsidy and forcing the USDA to buy up milk at prices way above what farmers are receiving now. The proposed measures would also extend disaster aid for producers hit by the drought. [View news story]
    I believe this is all about the ending of a subsidy for milk. Now that most dieticians feel that consumption of milk is not as healthy as once believed perhaps it is time to end the subsidy of a product that carries with it excessive fat leading to obesity and growth hormones doing the same.
    Dec 31 12:47 PM | Likes Like |Link to Comment
  • Market preview: Like Sherlock Holmes and Professor James Moriarty, Democrats and Republicans may be about to tumble over the fiscal cliff in a mutual rolling bear hug that could take the U.S. economy with them, but investors remain sanguine as reports filter through that a deal could still be reached. If we can get away from the cliff imagery for a minute, Shakespeare also sums the situation up quite nicely: "As two spent swimmers, that do cling together and choke their art." The S&P is +0.75%. Later: Dallas Fed Manufacturing Outlook, USDA Ag. Prices [View news story]
    I think that this writer has had a little too much egg nog. Like all things man made this fascination with the fiscal cliff will pass soon enough and we will move on to yet another media based calamity.
    Dec 31 09:25 AM | 1 Like Like |Link to Comment
  • Congressional leaders yesterday agreed to an extension until September 30 of a farm law whose lapse tomorrow could lead to a doubling of milk prices by reviving a decades-old subsidy and forcing the USDA to buy up milk at prices way above what farmers are receiving now. The proposed measures would also extend disaster aid for producers hit by the drought. [View news story]
    Tony, unless you are attempting to be sarcastic, you should know that most physicians are in favor of limiting, if not eliminating, the consumption of milk.
    Dec 31 08:57 AM | 3 Likes Like |Link to Comment
  • U.S. stock futures are higher premarket on the last trading day of the year despite the inability of Washington to agree to a deal on the fiscal cliff. The calm reaction of the markets could suggest investors believe that today's cliff deadline is not really so critical after all and that a deal in a week or two will be just as good. Dow +0.2%, S&P +0.4%, Nasdaq +0.1%[View news story]
    I would say that there is complete unpredictability in terms of what actions might be taken today. Therefore I choose to bet on the unpredictable outcome.
    Dec 31 08:18 AM | Likes Like |Link to Comment
  • U.S. stock futures are higher premarket on the last trading day of the year despite the inability of Washington to agree to a deal on the fiscal cliff. The calm reaction of the markets could suggest investors believe that today's cliff deadline is not really so critical after all and that a deal in a week or two will be just as good. Dow +0.2%, S&P +0.4%, Nasdaq +0.1%[View news story]
    Cliff or no cliff, life goes on. I, for one, am kind of getting used to the dysfunctional situation in Washington. If they ever start actually accomplishing anything I will have to rethink my investing thesis.
    Dec 31 06:52 AM | Likes Like |Link to Comment
  • Congressional leaders yesterday agreed to an extension until September 30 of a farm law whose lapse tomorrow could lead to a doubling of milk prices by reviving a decades-old subsidy and forcing the USDA to buy up milk at prices way above what farmers are receiving now. The proposed measures would also extend disaster aid for producers hit by the drought. [View news story]
    This is just the kind of outdated stuff they cannot wean themselves off. There are billions of dollars of these no longer necessary subsidies on the books that could be put to rest without meaningful negative results. All this could have been done while Congress was non-debating the fiscal cliff.
    Dec 31 04:58 AM | 2 Likes Like |Link to Comment
  • There are now over 35K apps in the Windows 8 Store, per tracking site MetroStore Scanner. That figure represents an increase of 15.6K in the last 35 days, and suggests many developers (though not Google) are coming around due to the size of the global Windows (MSFT) base. But early demand remains light: Fujitsu just said it could miss its FY13 PC shipment forecast (set in October) due to "weak" Win. 8 demand. [View news story]
    Sounds like MSFT has more Apps than sales of Windows 8.
    Dec 28 09:38 AM | Likes Like |Link to Comment
  • The Obama Administration considers expanding its mortgage-refinance program to include those loans not held by the GSE's. Fannie and Freddie back just 50% of the nation's mortgages, leaving a big chunk of the 10.8M underwater mortgage loans not qualified for the HAMP. What happened to weaning the nation off of public mortgage finance? [View news story]
    This Administration is using the government dole as a narcotic to lure those who suffered most under the last recession into giving over the last shred of their personal responsibility to the Democratic Party. Hear the chant, "We are the nanny state".
    Dec 26 07:15 AM | 11 Likes Like |Link to Comment
  • Lawmakers in the U.S. see a quick-patch solution as the best hope of averting the automatic tax increases and spending cuts set to hit on January 1. Over the weekend the blame game was in full cycle while key Senators hit the talk TV circuit. The last word from President Obama is that he would immediately sign a bill into law extending tax cuts for those making $250K or less. [View news story]
    The President and all of the other morons on Capitol Hill are screwing the average American. Who do you think will eventually pay for the trillions in budget deficits? Oh yeah, I for got, this President and his party do no believe in budgets. If you are under forty years of age, you are being royally screwed by the American government which is giving your future hard earned dollars to a bunch of old Baby Boomer who never planned for their retirement because they thought they were owed everything.
    Dec 26 06:31 AM | Likes Like |Link to Comment
  • First, it was the fiscal cliff. Now, get ready for the "container cliff," as the threat of a longshoremen's strike that could close 15 major ports along the Atlantic and Gulf coasts - including the port of New York and New Jersey - has the shipping, manufacturing and retail industries warning of a "devastating blow" to the supply chain. Like the fiscal cliff, the deadline is approaching fast: Dec. 29. [View news story]
    I generally agree but American manufacturing has deteriorated to the point that even critical parts of weapons systems are being manufactured overseas. It is a situation that has evolved over decades and IF it is ever to be reversed it will take decades to do so.
    Merry Christmas
    Dec 22 06:17 AM | 2 Likes Like |Link to Comment
  • First, it was the fiscal cliff. Now, get ready for the "container cliff," as the threat of a longshoremen's strike that could close 15 major ports along the Atlantic and Gulf coasts - including the port of New York and New Jersey - has the shipping, manufacturing and retail industries warning of a "devastating blow" to the supply chain. Like the fiscal cliff, the deadline is approaching fast: Dec. 29. [View news story]
    Timing is everything, January is slow anyway.
    Dec 21 06:19 PM | 1 Like Like |Link to Comment
  • Forty-five states and D.C. recorded unemployment rate decreases and five states had no change in November, the BLS reports. Nevada continued to post the highest rate at 10.8%, followed by Rhode Island at 10.4%; North Dakota was lowest at 3.1%. Michigan and Ohio have seen the most improvement vs. maximum rates, while New Jersey and Connecticut are laggards. [View news story]
    Surprisingly I do have ideas but no one really wants to listen. I would start with firing all members of both the House and the Senate who have been there for more than ten years. The Founding Fathers saw service to the Country as a duty not a right to lifelong privilege. Next I would simplify the tax code. I prefer a graduated flat tax with no deductions. I would then set and fix the rates for five years with no chance for increase during that period excepting for war threatening our borders initiated by others with hostility not threats. The budget would then be established in the context of not more than 90% of the projected revenues for that five year period.
    Have you dozed off yet?
    Merry Christmas
    Dec 21 05:41 PM | Likes Like |Link to Comment
  • Forty-five states and D.C. recorded unemployment rate decreases and five states had no change in November, the BLS reports. Nevada continued to post the highest rate at 10.8%, followed by Rhode Island at 10.4%; North Dakota was lowest at 3.1%. Michigan and Ohio have seen the most improvement vs. maximum rates, while New Jersey and Connecticut are laggards. [View news story]
    People are dropping out of the work force in record numbers. Has unemployment improved? Yes it has. Has it improved as much as these numbers would seem to indicate? Hell no. When you lower the participation rate you lower the unemployment rate. There are still a whole lot of unemployed and unrecorded people out there.
    Dec 21 02:54 PM | 1 Like Like |Link to Comment
  • The OCC is on the case and expected to take formal action demanding JPMorgan (JPM) shore up its risk controls in wake of the London Whale trading losses (we forget, did these hit this year or last?). JPMorgan, of course, has spent months rejiggering its organizational chart to prevent another occurrence. [View news story]
    The OCC, like Rip Van Winkle, has only recently awakened from a forty year siesta.
    Dec 21 09:00 AM | 1 Like Like |Link to Comment
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