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  • The shale gas revolution risks being limited or stopped unless the industry agrees to tougher environmental rules, the International Energy Agency warns. Adopting more stringent standards for fracking could increase the cost of a typical well by ~7%, but the entire industry could be damaged if companies ignore the “legitimate concerns” over fracking’s impact.  [View news story]
    Another story you can't read unless you "register." To avoid that hassle, search in Bing or Google for the title:
    "IEA warns on shale gas rules"
    and you should be able to open it from their link without registering (I did so from Bing's link, didn't try it on Google).
    May 29, 2012. 12:55 PM | Likes Like |Link to Comment
  • "When I see Goldman Sachs (GS) pull back risk that much that quickly, I get a little anxious about what could be around the corner," says Nomura's Glenn Schorr. Goldman's "value at risk" (VAR) fell to its lowest level since before the financial crisis, it reported yesterday - this despite Q1's rally in risk assets.  [View news story]
    to actually get to the article without signup, search for:

    Goldman adds caution to risk appetite

    in Bing or Google (I tried re-pasting the link into the address bar and it still goes to the sign up pop-up, but it will open from the link in Bing)

    the article is titled: "Goldman adds caution to risk appetite" -
    23 hours ago
    Apr 18, 2012. 02:11 PM | 1 Like Like |Link to Comment
  • Lorillard's Profits Require No Smoke and Mirrors [View article]
    Without disputing LO's strong fundamentals, I would be interested to know how you calculate that "The company's return on invested cap­i­tal (ROIC) is 450%". As of this post date (6/9/2011) MSN Money shows it at 98.6%, and doing the calculation myself using the formula: ROIC = EBIT/ (Net Working Capital [CA-CL] + Net Fixed assets [PPE]) I get (using numbers available on MSN and Yahoo finance - 2010): $1,729 / ((2,935 - 1,426) + 243) = 1,729 / 1752 = 98.7%. It seemed from your text that the excluded cash is not in the calc that yielded the 450% so there must be something else that is not reflected in the numbers that I found and used above. Thanks! (no current LO position).
    Jun 9, 2011. 11:29 PM | Likes Like |Link to Comment
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