The deal may be far from done, but that hasn't stopped analysts from spending (in their heads anyway) the theoretical $100B+ cash hoard Vodaphone (VOD) would be sitting on in the event Verizon (VZ) buys out VOD's 45% Verizon Wireless stake. "What they should do is a dramatic rethink of the business," a Bernstein analyst tells Bloomberg. One possibility: acquisitions, such as Kabel Deutschland Holding and/or Liberty Global, KBC asset management says. Even if the company returned half of the cash from a potential deal to shareholders, it would still be left with $62B, including what it currently has on its books. [View news story]
Last I checked the company is called Vodafone, not Vodaphone :-D
The Portnoys do it again. After Hospitality Properties Trust (HPT) director Bill Lamkin fails to win enough votes to stay on and resigns, the board immediately reappoints him, calling his defeat a result of CalPERS' activism. HPT is managed by Portnoy-controlled Reit Management & Research, the operator of CommonWealth REIT (CWH). Yesterday: Tragicomedy at CommonWealth. [View news story]
Unfortunately plenty of companies choose to ignore the stockholders. They seem to forget who the real owners of the company are.
"I think Netflix (NFLX +4.1%) could be this decade's Amazon," says Whitney Tilson in a Yahoo talk (video). Though Tilson admits to "trimming" his position during Netflix's run-up, he still considers it undervalued relative to other media providers - "They're trading at $400 per subscriber in a world of $1,000 per sub" - and argues its scale gives it a big edge - "Who else is going to spend $3 billion a year for streaming content?" Of course, many of the firms valued at $1,000/sub are getting a lot more than $8/month. Netflix investors seem to be betting the company's library and customer loyalty will allow it to raise prices over time. (U.K. deals) [View news story]
This decade's Amazon? Meaning making almost no money and selling for 100X P/E?
Kwon Uk Choi unloads more of his Gramercy Property Trust (GPT) holdings, an amended 13D showing him ceasing to be a beneficial owner of more than 5% of the stock - now with a 4.2% stake vs. about 6% a month ago. [View news story]
Do you know if he plans on selling out completely?
Senator John McCain will introduce legislation shortly to overhaul the TV business by giving consumers the option to buy channels on an individual basis (a la carte) - instead of seeing only large bundles as options. The politician will face fierce resistance from broadcast (NWS, DIS, CMCSA, CBS, AMCX, SNI, OUTD, DISCA, VIAB) and cable companies (CVC, CHTR, TWC) but may have a friend in upstart Aereo which has been rankling a few feathers as well. (Aereo timeline) [View news story]
They have these things called computers now which make it very simple to implement this.
Senator John McCain will introduce legislation shortly to overhaul the TV business by giving consumers the option to buy channels on an individual basis (a la carte) - instead of seeing only large bundles as options. The politician will face fierce resistance from broadcast (NWS, DIS, CMCSA, CBS, AMCX, SNI, OUTD, DISCA, VIAB) and cable companies (CVC, CHTR, TWC) but may have a friend in upstart Aereo which has been rankling a few feathers as well. (Aereo timeline) [View news story]
"Your overall bill will be higher."
jumpnjoey - Why would it be higher? If the bill was going ot be higher, why do you think these companies are fighting it? Right now I get tons of stations that I don't watch and watch a small fraction of them. I'm basically subsidizing them. There is no free market here. This is an oligopoly. No one else except the cable and phone company can run a wire to your house.
Genworth Financial: Shares Up On Mortgage Profits, Still Undervalued [View article]
So considering part of the reason you sold is because of the bad job numbers last month, how do you feel after all the upward revisions and the good numbers for April?
Will Premier Exhibitions' Titanic Auction Go On And On? [View article]
Thanks for the article Chris. What makes you so confident the deal will close by July 1st? From the reading I've done management hasn't provided any guidance on this.
The Case For Tom Ward And Aubrey McClendon [View article]
Actually a good CEO should make sure his pay is not out of proportion compared to peers. Both CEO's were also chairman of the board at their companies (no conflict of interest there right?) and had strong influence over director nominations. Not only did they receive exhorbitant salaries, but they also participated in shady practices like getting to buying stakes in wells, buying assets and selling them to their company at a profit (Ward & McClendon), using company employees to do work on their house (McClendon). The list goes on.
They over leveraged their companies, made horrible forecasts on commodity prices, and the quality of the assets they purchased are suspect. To pat them on the back for keeping their companies out of bankruptcy when they were responsible for getting them in that situation in the first place seems pretty silly.
Heckmann (HEK) settles a shareholder lawsuit surrounding the 2010 acquisition of China Water & Drinks, agreeing to pay plaintiffs attorneys $300K and issue to them 562,320 shares of company stock, while denying all allegations of wrongdoing. (PR) [View news story]
Sounds like the shareholders really made out on that. Thanks leeches... I mean lawyers!
Heads You Win, Tails You Tie With Outdoor Channel [View article]
Thanks for the writeup Chris. I saw this news story yesterday: http://buswk.co/YBUu6C. Can you explain the difference in pricing between TV Guide network and OUTD? Based on CBS's purchase price of half the company it seems to be valued at $3/subscriber. What makes OUTD so much more valuable?
SG&A is relatively inexpensive. Mostly rum, parrot food, and citrus to prevent scurvy. But the business doesn't have much of a moat and a dip in business may result in walking the plank.
The deal may be far from done, but that hasn't stopped analysts from spending (in their heads anyway) the theoretical $100B+ cash hoard Vodaphone (VOD) would be sitting on in the event Verizon (VZ) buys out VOD's 45% Verizon Wireless stake. "What they should do is a dramatic rethink of the business," a Bernstein analyst tells Bloomberg. One possibility: acquisitions, such as Kabel Deutschland Holding and/or Liberty Global, KBC asset management says. Even if the company returned half of the cash from a potential deal to shareholders, it would still be left with $62B, including what it currently has on its books. [View news story]
The Portnoys do it again. After Hospitality Properties Trust (HPT) director Bill Lamkin fails to win enough votes to stay on and resigns, the board immediately reappoints him, calling his defeat a result of CalPERS' activism. HPT is managed by Portnoy-controlled Reit Management & Research, the operator of CommonWealth REIT (CWH). Yesterday: Tragicomedy at CommonWealth. [View news story]
"I think Netflix (NFLX +4.1%) could be this decade's Amazon," says Whitney Tilson in a Yahoo talk (video). Though Tilson admits to "trimming" his position during Netflix's run-up, he still considers it undervalued relative to other media providers - "They're trading at $400 per subscriber in a world of $1,000 per sub" - and argues its scale gives it a big edge - "Who else is going to spend $3 billion a year for streaming content?" Of course, many of the firms valued at $1,000/sub are getting a lot more than $8/month. Netflix investors seem to be betting the company's library and customer loyalty will allow it to raise prices over time. (U.K. deals) [View news story]
Kwon Uk Choi unloads more of his Gramercy Property Trust (GPT) holdings, an amended 13D showing him ceasing to be a beneficial owner of more than 5% of the stock - now with a 4.2% stake vs. about 6% a month ago. [View news story]
Mart Resources: A 14% Yield And Big Catalysts [View article]
Senator John McCain will introduce legislation shortly to overhaul the TV business by giving consumers the option to buy channels on an individual basis (a la carte) - instead of seeing only large bundles as options. The politician will face fierce resistance from broadcast (NWS, DIS, CMCSA, CBS, AMCX, SNI, OUTD, DISCA, VIAB) and cable companies (CVC, CHTR, TWC) but may have a friend in upstart Aereo which has been rankling a few feathers as well. (Aereo timeline) [View news story]
Senator John McCain will introduce legislation shortly to overhaul the TV business by giving consumers the option to buy channels on an individual basis (a la carte) - instead of seeing only large bundles as options. The politician will face fierce resistance from broadcast (NWS, DIS, CMCSA, CBS, AMCX, SNI, OUTD, DISCA, VIAB) and cable companies (CVC, CHTR, TWC) but may have a friend in upstart Aereo which has been rankling a few feathers as well. (Aereo timeline) [View news story]
jumpnjoey - Why would it be higher? If the bill was going ot be higher, why do you think these companies are fighting it? Right now I get tons of stations that I don't watch and watch a small fraction of them. I'm basically subsidizing them. There is no free market here. This is an oligopoly. No one else except the cable and phone company can run a wire to your house.
Genworth Financial: Shares Up On Mortgage Profits, Still Undervalued [View article]
Heads You Win, Tails You Tie With Outdoor Channel [View article]
http://bit.ly/177ODbV
Will Premier Exhibitions' Titanic Auction Go On And On? [View article]
The Case For Tom Ward And Aubrey McClendon [View article]
They over leveraged their companies, made horrible forecasts on commodity prices, and the quality of the assets they purchased are suspect. To pat them on the back for keeping their companies out of bankruptcy when they were responsible for getting them in that situation in the first place seems pretty silly.
Heckmann (HEK) settles a shareholder lawsuit surrounding the 2010 acquisition of China Water & Drinks, agreeing to pay plaintiffs attorneys $300K and issue to them 562,320 shares of company stock, while denying all allegations of wrongdoing. (PR) [View news story]
How To Pick REIT Stocks Like Trump And Think Like Graham [View article]
Heads You Win, Tails You Tie With Outdoor Channel [View article]
Gregg
Safe At Sea, Legal In Port [View instapost]