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billmichael

billmichael
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  • Bank of America's (BAC) Article 77 hearing is on hiatus until July 8 to allow the presiding judge time on other cases. Day 8 of the hearing was an uneventful one, reports Mark Palmer, notable mostly for the judge admonishing an attorney representing the supporters to quit coaching (through gestures) a witness on the stand. [View news story]
    What kind of precedent does this set? Or is there already precedent for companies to settle and then later, one changes its mind and backs out of the settlement? How can one do business when there is no way to know what is going to happen next? I guess it is not over until the fat lady sings, and sings, and sings.
    Jun 17 10:49 PM | 1 Like Like |Link to Comment
  • Did Bank Of America Just Effectively Limit Its Countrywide Liabilities? [View article]
    Well reasoned and intelligent comment. Thank You.
    Apr 19 02:16 PM | Likes Like |Link to Comment
  • Bank Of America And The Fiscal Cliff [View article]
    My previous comment was deleted by SeekingAlpha's team of moderators because I used a symbolic expression to describe my dissatisfaction with the author's writings and views expressed in this article. Instead, I will just come right out and say that I feel the author of this article talks in circles and regurgitates facts and figures of topics about which he really has no sense of comprehension. I truly don’t believe he is trying to educate his readership as much as he attempting to impress them with a lot of mumbo jumbo. That’s all I was trying to say.
    Apr 17 11:23 PM | Likes Like |Link to Comment
  • 4 Reasons Why Bank Of America Should Trade Back Down To $11 [View article]
    Just keep your eye on the little pendulum while I massage this nonsense into your brain...
    Apr 3 07:21 AM | 4 Likes Like |Link to Comment
  • A Safe And A Shotgun, Or Public Sector Banks? The Battle Of Cyprus [View article]
    You believe in "global warming"?
    Apr 2 10:30 PM | Likes Like |Link to Comment
  • A Word Of Caution About Bank Of America's Share Buyback [View article]
    Thank You!
    A very intelligent comment.
    Mar 18 10:15 PM | 1 Like Like |Link to Comment
  • Bank of America (BAC) managing director Raphael Zagury - the head of derivative investments in wealth management - resigns after 5 years on the job. He declined to comment on the circumstances. [View news story]
    If Obummer did that, wouldn't it be like cutting off one's nose to spite one's face? Who will it help to cripple such an important bank just as it is recovering? We need the banks to get the economy going again. Destroying a bank in the midst of worldwide economic instability would be insane. Surely no one is really that vindictive or that irresponsible?
    Mar 11 05:31 PM | Likes Like |Link to Comment
  • Bank of America (BAC) is engaged in "accounting arbitrage" says Manal Mehta, reserving far less for legal cases than it may have to pay out. If regulators forced the bank to properly account for the possible losses, it's likely they would disallow any capital returns and force BofA to continue socking away its profits. [View news story]
    Furthermore, why would one want to set aside enough money to pay all anticipated losses? If a company sets aside enough cash to pay for all anticipated losses, then the company becomes a juicy cherry ready for picking. I think a company is in a better position to bargain if its pockets are half-empty.
    Mar 6 07:46 PM | Likes Like |Link to Comment
  • Drugstore chains (WAG, CVS, RAD) continue to push further into healthcare to make up for lagging prescription drug sales. The latest development is an initiative by Rite Aid to open 58 stores which have in-store clinics where customers can interact with a doctor using a Web cam. Customers in Baltimore, Boston, Philadelphia, and Pittsburgh can pay $45 for a 10-minute consult with a doctor via a PC. [View news story]
    This is the future: Phone banks of doctors in India consulting with patients via webcams located in drug stores throughout the US. The tele-prompter says: "Please Hold for the next available Physician." Don't laugh.
    Mar 1 11:22 AM | Likes Like |Link to Comment
  • Buffett And Berkowitz Were (And Still Are) Right About Bank Of America [View article]
    " ...too big to JAIL." Hee, Hee, Heee...!!!
    Jan 29 07:13 AM | Likes Like |Link to Comment
  • Westport Innovations: Ford Trucks Mean A Lot To This Natural Gas Engine Stock [View article]
    Sure if all you want is a baseline truck. However, right from the Ford website, an F-150 SuperCrew (4-door cab) with a five (5) liter engine, 6 speed automatic, 4x4, and a six and a half foot bed and the #302A "equipment package" (nice radio, power windows, nice wheels, etc.) is $41,955 and gets less mileage than the base model. My Sport-Trac had all of that and cost 10K less and got better mileage. And don't forget, "I" am the customer. "I" know what "I" want.
    Jan 28 11:21 PM | Likes Like |Link to Comment
  • Westport Innovations: Ford Trucks Mean A Lot To This Natural Gas Engine Stock [View article]
    I have no opinion on WPRT other than to say that the innovative technology they offer is being used to dress up a truck that costs nearly $50,000. The mistake being made is by Ford, which really believes it can sell these massive, gas-guzzling trucks at a price nearly twice the year's salary of the consumer to whom it is marketed. Inexplicably, Ford got rid of its fuel efficient mid-size Ranger and Sport-Trac, which represented the best platform to implement improvements in weight and fuel efficiency. The average Joe, doesn't need and can't readily afford, a $45,000 F-150 4x4 that gets less than 14 MPG.
    Jan 27 10:36 PM | Likes Like |Link to Comment
  • 3 Reasons Wendy's Stock Offers A Cut Above Investment Opportunity [View article]
    Wendy's stock is priced low which makes it dangerous. You could load up thinking you have a bargain and be in the poorhouse the next day. If you do invest, do your research and buy just a few shares, so you can study it over the course of a year. My two cents...
    Jan 24 12:17 AM | Likes Like |Link to Comment
  • 3 Reasons Wendy's Stock Offers A Cut Above Investment Opportunity [View article]
    I think you nailed it. I agree with you that the people who run Wendy's see it as a cash machine and have no interest in making Wendy's better or bigger. They do just enough to keep a steady business.
    Jan 24 12:10 AM | Likes Like |Link to Comment
  • Buffett And Berkowitz Were (And Still Are) Right About Bank Of America [View article]
    Well, you know ...(buy Australian Banks...), you know what gamblers we Americans are. BAC is going to pay off big, even if it only gets to 15.00 here in the near future...
    Jan 18 01:44 PM | 3 Likes Like |Link to Comment
COMMENTS STATS
76 Comments
113 Likes