lee's Comments lee's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/7725/comments And just like that, the Dow's triple-digit advance is gone. Dow now just into the negative, -1.74 to 10,364.41. S&P 500 dives, down 0.2% to 1,099.57, and Nasdaq on its way, now down 0.2% to 2,170. Basic materials, especially miners and metals, have been the drag so far. http://seekingalpha.com/news/market_currents/post/37687?source=feed#comment-790434 790434 Fri, 04 Dec 2009 11:54:36 -0500 RBS chief credit strategist and uber-bear Bob Janjuah tells clients to take profits and get ready for another storm. "Ask yourself this: who bails out Government after they have bailed out everyone?" http://seekingalpha.com/news/market_currents/post/30474?source=feed#comment-628021 628021 Thu, 13 Aug 2009 09:35:46 -0400 James Kwak puzzles over the scant attention afforded ratings agencies - who played an intricate role in the breakdown - in the regulatory overhaul. http://seekingalpha.com/news/market_currents/post/26304?source=feed#comment-553881 553881 Fri, 19 Jun 2009 11:26:57 -0400 Microsoft's (MSFT) Bing momentum continues through week-two since the launch, with U.S. search penetration up 0.9 percentage points to 16.7% - from 13.7% pre-Bing. Its share of search result pages also climbed 0.9 points to 12.1%, vs. 9.1% two weeks ago. (comScore) Meanwhile, shares of MSFT are +12.2% since June 1. http://seekingalpha.com/news/market_currents/post/26146?source=feed#comment-550418 550418
Most OS's or 'google-integrated' devices give you a choice of Yahoo or Google, not hard to add Bing if it gets popular.]]> Wed, 17 Jun 2009 11:47:42 -0400
Most OS's or 'google-integrated' devices give you a choice of Yahoo or Google, not hard to add Bing if it gets popular.]]> S&P downgrades 18 U.S. banks, and rates five of them in junk territory, noting conditions 'will become less favorable' with greater volatility and tighter regulations. Among the losers: COF -2.5%. WFC -4.3%. FITB -6.4%. http://seekingalpha.com/news/market_currents/post/26135?source=feed#comment-550249 550249 regulatory supervision. The changes also reflect our ongoing broad-ranging reassessment of industry risk for U.S. financial institutions (see "How The Credit-Market Crisis Is Changing The World Of Banking," published Nov. 25, 2008, on RatingsDirect).
Our overall assessment of the U.S. banking industry incorporates the following key points: The industry is now in a transition and will likely undergo material structural changes; the loss content of loan portfolios should increase, but recent capital rebuilding should help banks defray these losses; stress tests point to more pain in the future; we don't view regional banks as being highly systemically important; and potential losses could
increase beyond our current expectations.
"We believe the banking industry is undergoing a structural
transformation that may include radical changes with permanent repercussions," said Standard & Poor's credit analyst Rodrigo Quintanilla. "Financial institutions are now shedding balance-sheet risk and altering funding profiles and strategies for the marketplace's new reality. Such a transition period
justifies lower ratings as industry players implement changes." Possiblechanges include increased regulatory oversight and lower profitability.
In addition, we reassessed the relative creditworthiness of many
institutions based on their abilities to deal with the increased risks during this transition period. "We believe some firms may be better able to weather the risks ahead than others," Mr. Quintanilla added. "In the long term, we could foresee ourselves raising ratings if lower earnings and reduced risk are accompanied by stronger risk-adjusted capital and effective governance."
As a result of the downgrades this week, as well as those since mid-2007, the counterparty ratings on U.S. banks (at the operating subsidiary level) have fallen by an average of two notches, to 'BBB+' today from 'A' before the crisis began in June 2007. However, said Mr. Quintanilla, "the high number of firms with negative outlooks suggests that the ratings could still decline if
the credit cycle is longer and/or deeper."
Standard & Poor's will hold a teleconference on Thursday, June 18, to discuss these rating actions. The dial-in numbers are 1-210-795-0624 for the U.S. and other locations, and 44-20-7108-6390 for the U.K. The conference ID is 4437303, and the passcode is SANDP.]]> Wed, 17 Jun 2009 10:36:30 -0400 regulatory supervision. The changes also reflect our ongoing broad-ranging reassessment of industry risk for U.S. financial institutions (see "How The Credit-Market Crisis Is Changing The World Of Banking," published Nov. 25, 2008, on RatingsDirect).
Our overall assessment of the U.S. banking industry incorporates the following key points: The industry is now in a transition and will likely undergo material structural changes; the loss content of loan portfolios should increase, but recent capital rebuilding should help banks defray these losses; stress tests point to more pain in the future; we don't view regional banks as being highly systemically important; and potential losses could
increase beyond our current expectations.
"We believe the banking industry is undergoing a structural
transformation that may include radical changes with permanent repercussions," said Standard & Poor's credit analyst Rodrigo Quintanilla. "Financial institutions are now shedding balance-sheet risk and altering funding profiles and strategies for the marketplace's new reality. Such a transition period
justifies lower ratings as industry players implement changes." Possiblechanges include increased regulatory oversight and lower profitability.
In addition, we reassessed the relative creditworthiness of many
institutions based on their abilities to deal with the increased risks during this transition period. "We believe some firms may be better able to weather the risks ahead than others," Mr. Quintanilla added. "In the long term, we could foresee ourselves raising ratings if lower earnings and reduced risk are accompanied by stronger risk-adjusted capital and effective governance."
As a result of the downgrades this week, as well as those since mid-2007, the counterparty ratings on U.S. banks (at the operating subsidiary level) have fallen by an average of two notches, to 'BBB+' today from 'A' before the crisis began in June 2007. However, said Mr. Quintanilla, "the high number of firms with negative outlooks suggests that the ratings could still decline if
the credit cycle is longer and/or deeper."
Standard & Poor's will hold a teleconference on Thursday, June 18, to discuss these rating actions. The dial-in numbers are 1-210-795-0624 for the U.S. and other locations, and 44-20-7108-6390 for the U.K. The conference ID is 4437303, and the passcode is SANDP.]]> More than anyone else, Ben Bernanke saved the U.S. from a second Great Depression, Jim Cramer says. "Bernanke learned the lessons of history and refused to let it repeat itself. Bernanke once seemed Lilliputian compared to Greenspan. Now their statures have been reversed." http://seekingalpha.com/news/market_currents/post/25599?source=feed#comment-537280 537280 Mon, 08 Jun 2009 12:26:04 -0400 Why 'Bing'? Why Not 'Sift'? http://seekingalpha.com/article/140306-why-bing-why-not-sift?source=feed#comment-523224 523224 Fri, 29 May 2009 14:47:01 -0400 GM (GM) bondholders accept amended debt-for-equity offer. ((CNBC)) Details to follow. Stock halted at $3.11, up 170%. Maybe this is why it wasn't trading at $0.00 yesterday? http://seekingalpha.com/news/market_currents/post/25047?source=feed#comment-521085 521085 Thu, 28 May 2009 09:49:54 -0400 While national chain appliance and electronics retailers struggle, smaller sellers like hhgregg (HGG) and Conn's (CONN) are cashing in on retro: real-live sales staff to help consumers understand how that thing-a-ma-washing machine works. http://seekingalpha.com/news/market_currents/post/24989?source=feed#comment-519772 519772 Wed, 27 May 2009 12:48:44 -0400 Bing. That's the new name for Microsoft's (MSFT) search engine. But the product needs more than a superficial makeover to take on Google (GOOG). http://seekingalpha.com/news/market_currents/post/24971?source=feed#comment-519664 519664
Also, bing.com looks taken, please tell me they picked a name w/o a website...]]> Wed, 27 May 2009 12:00:24 -0400
Also, bing.com looks taken, please tell me they picked a name w/o a website...]]> UAW = U Are Whole: For the $20-odd billion owed the UAW VEBA, it gets $19B in cash and securities, 17.5% of the company, and warrants. "So much for the equal footing of unsecured creditors." http://seekingalpha.com/news/market_currents/post/24909?source=feed#comment-518346 518346
www.enotes.com/busines...

Priority of distribution. All creditors are not treated equally. There are several levels of priority in the distribution of assets. A creditor with a security lien on property (e.g., bank mortgage) has priority over other creditors.

In descending order, the following unsecured creditors are entitled to the expenses and claims:

1. Administrative expenses incurred by the trustee
2. Post-petition credit extended to debtors
3. Claims up to $4,300 for wages, salaries, or commissions earned by an individual within ninety days of filing of the petition
4. Claims for contributions to employee benefit plans up to $4,300 for services rendered up to 180 days before filing of petition
5. Claims up to $4,300 for a person operating a grain storage or fish produce storage or processing facility
6. Claims by consumers up to $1,950 for deposits made for purchase, lease, or rental of property or for the purchase or consumer goods or services
7. Claims for alimony, maintenance, or child support
8. Income and other taxes due to governmental units
9. The remaining unsecured creditors]]> Tue, 26 May 2009 15:06:39 -0400
www.enotes.com/busines...

Priority of distribution. All creditors are not treated equally. There are several levels of priority in the distribution of assets. A creditor with a security lien on property (e.g., bank mortgage) has priority over other creditors.

In descending order, the following unsecured creditors are entitled to the expenses and claims:

1. Administrative expenses incurred by the trustee
2. Post-petition credit extended to debtors
3. Claims up to $4,300 for wages, salaries, or commissions earned by an individual within ninety days of filing of the petition
4. Claims for contributions to employee benefit plans up to $4,300 for services rendered up to 180 days before filing of petition
5. Claims up to $4,300 for a person operating a grain storage or fish produce storage or processing facility
6. Claims by consumers up to $1,950 for deposits made for purchase, lease, or rental of property or for the purchase or consumer goods or services
7. Claims for alimony, maintenance, or child support
8. Income and other taxes due to governmental units
9. The remaining unsecured creditors]]> Annoyed that we still trust the ratings agencies after their many failures, the Telegraph's Tracy Corrigan places S&P and Moody's under review for possible downgrade. http://seekingalpha.com/news/market_currents/post/24788?source=feed#comment-514737 514737
People need to realize that ratings on structured products were based on real estate models that were wrong. Corporates, sovereigns, and every other group at ratings agencies operate off fundementals and the four c's of fixed income. ]]> Fri, 22 May 2009 14:08:24 -0400
People need to realize that ratings on structured products were based on real estate models that were wrong. Corporates, sovereigns, and every other group at ratings agencies operate off fundementals and the four c's of fixed income. ]]> Scary chart of the day: S&P 500 earnings decline over the last 20 months. http://seekingalpha.com/news/market_currents/post/24429?source=feed#comment-508807 508807 Mon, 18 May 2009 17:05:56 -0400 Citigroup (C) has used most of its $45B in TARP funds to make new loans, approving $44.75B in lending initiatives as of March 31. The loans include an additional $2B to suppliers, $1B for residential mortgages and $250M in auto loans. http://seekingalpha.com/news/market_currents/post/24010?source=feed#comment-500236 500236 Tue, 12 May 2009 09:42:59 -0400 Get ready for a "surprising rebound" in H2, Larry Kantor, head of research at Barclays Capital says. "Most of our clients have missed this rally." http://seekingalpha.com/news/market_currents/post/23598?source=feed#comment-492020 492020 Wed, 06 May 2009 11:34:55 -0400 "There are no more shoes to drop," Brian Wesbury and Robert Stein of First Trust Advisors write. "Now it looks like our V-shaped recovery is underway. When the NBER eventually gets around to declaring the recession end date, we think it will be May 2009." http://seekingalpha.com/news/market_currents/post/23487?source=feed#comment-490718 490718
The inmates are running the asylum.
]]> Tue, 05 May 2009 15:05:03 -0400
The inmates are running the asylum.
]]> To understand the buzz around Twitter, and its close relative SMS messaging, a brief history of the 140-character limitation. http://seekingalpha.com/news/market_currents/post/23351?source=feed#comment-489294 489294 www.nytimes.com/2008/1...

"That’s why a message is so limited in length: it must not exceed the length of the message used for internal communication between tower and handset to set up a call. The channel uses space whether or not a text message is inserted."]]> Mon, 04 May 2009 16:50:09 -0400 www.nytimes.com/2008/1...

"That’s why a message is so limited in length: it must not exceed the length of the message used for internal communication between tower and handset to set up a call. The channel uses space whether or not a text message is inserted."]]> Swine flu has now officially hit New York's financial sector. (Reuters) http://seekingalpha.com/news/market_currents/post/22805?source=feed#comment-480890 480890 Tue, 28 Apr 2009 11:14:43 -0400 Crowdsourced credit ratings. http://seekingalpha.com/news/market_currents/post/21479?source=feed#comment-456683 456683
Hindsight is 20/20, no investors had problems gobbling up the garbage banks were selling, what makes anyone think the "group" will foresee a default? Roubini and Taleb were the only people that saw this whole thing coming. ]]> Wed, 08 Apr 2009 15:14:52 -0400
Hindsight is 20/20, no investors had problems gobbling up the garbage banks were selling, what makes anyone think the "group" will foresee a default? Roubini and Taleb were the only people that saw this whole thing coming. ]]> Microsoft (MSFT) is doing internal beta tests of Kumo, its newest effort at an online search engine. Silicon Alley Insider explains why Kumo is doomed. http://seekingalpha.com/news/market_currents/post/19026?source=feed#comment-411416 411416
"Until then, of course, Microsoft must innovate. And, so far, Kumo seems to be an interesting effort with a clean and spare look."

WTF? I'm no msft fan but that's just thoughtless reporting. I do know someone at MS that has tested it and they say results are on par with google, and more helpful (tabs for local, results, etc).

Blodget is just making nypost-style headlines that will get picked up by other blogs. Thank you for contributing to his success. ]]> Tue, 03 Mar 2009 13:08:48 -0500
"Until then, of course, Microsoft must innovate. And, so far, Kumo seems to be an interesting effort with a clean and spare look."

WTF? I'm no msft fan but that's just thoughtless reporting. I do know someone at MS that has tested it and they say results are on par with google, and more helpful (tabs for local, results, etc).

Blodget is just making nypost-style headlines that will get picked up by other blogs. Thank you for contributing to his success. ]]> Last night Charlie Rose sat down with titans of the newspaper industry to discuss the media's tenuous future. Here's the transcript. http://seekingalpha.com/news/market_currents/post/17716?source=feed#comment-386411 386411 www.charlierose.com/vi...]]> Thu, 12 Feb 2009 18:21:51 -0500 www.charlierose.com/vi...]]> CMBS: Collapsing Issuance and Skyrocketing Spreads http://seekingalpha.com/article/54206-cmbs-collapsing-issuance-and-skyrocketing-spreads?source=feed#comment-102024 102024 Thu, 15 Nov 2007 10:20:46 -0500 CMBS: Collapsing Issuance and Skyrocketing Spreads http://seekingalpha.com/article/54206-cmbs-collapsing-issuance-and-skyrocketing-spreads?source=feed#comment-102023 102023 Thu, 15 Nov 2007 10:20:45 -0500 Smallcap DAC Technologies May Be Worth a Shot http://seekingalpha.com/article/18050-smallcap-dac-technologies-may-be-worth-a-shot?source=feed#comment-69221 69221 Tue, 10 Oct 2006 10:12:49 -0400 Kosher Food Boom Should Give Willi Foods a Boost http://seekingalpha.com/article/16545-kosher-food-boom-should-give-willi-foods-a-boost?source=feed#comment-62589 62589 Fri, 08 Sep 2006 09:41:34 -0400 Oil Price - The Need to Put the Cop Back on the Beat http://seekingalpha.com/article/16149-oil-price-the-need-to-put-the-cop-back-on-the-beat?source=feed#comment-61205 61205 Wed, 30 Aug 2006 10:44:06 -0400