malc9141

malc9141
Send Message
View as an RSS Feed
  • Risks Remain For Western Digital  [View article]
    "Management expected SanDisk would contribute positively to growth upfront, a view that's at risk of being wrong".

    I have lost big time with WDC. Its managers have looked out for themselves yet shareholders own the company. It had a weakening position but expanding into a weaker area is plain stupid.

    Others would know more than me about storage requirements. I could imagine an "even better system" for ultra large scale needs, and would hope WDC is tapping all the brains to seek it. But the word "hope" is not one I care for.
    Jan 10, 2016. 06:48 PM | 1 Like Like |Link to Comment
  • Golar LNG Is Positioned For Significant Growth, But Perhaps Not Just Yet  [View article]
    Coal is unnecessary and should be phased out. Unless you are a Carbon dioxide skeptic. The asthma a complex subject and aside from the worst fossil fuel. Coal might be "getting better": but that is hardly the point.
    Dec 15, 2015. 05:44 PM | Likes Like |Link to Comment
  • Golar LNG Is Positioned For Significant Growth, But Perhaps Not Just Yet  [View article]
    But what is the relevance of low cost LNG? Golar just competes to transport it. That was never a lucrative position to be in.

    When they came up with the Storage and Delivery idea (FRSU), that seemed (to me) to be a game-changer. It is very costly to convert the ships but I would have thought they could charge the country's Port (that doesn't have to build tanks etc) to cover the investment (indeed, they do. Thats the $170M annually). But what they also do is, sell the contract to GLMP and spend the cash to build another FRSU. So they are always cash-poor.

    And why did Fredriksonn sell out? Must have foreseen something.
    Dec 4, 2015. 07:22 PM | 1 Like Like |Link to Comment
  • Golar LNG Is Positioned For Significant Growth, But Perhaps Not Just Yet  [View article]
    "The vessel will begin working in Cameroon from the second quarter of 2017 and will lift Golar LNG's annual EBITDA by at least $170 million, assuming 50% capacity utilization. "

    I had great hopes with the FRSU idea. But GLNG says it might sell the operation to Golar Partners. This would give GLNG a quick Several Million but it loses that $170M annual stream.

    I am wondering if I have been taken for a sucker by Golar (Fredrickson sold out last year - I wondered why). They can alter their balance sheet at will by Buying and Selling between GLNG and Partners.
    Dec 4, 2015. 05:35 PM | Likes Like |Link to Comment
  • High-Dividend Stock Yields 10%, Has Record Revenues, Raised Dividend 10%  [View article]
    I'm interested in GLNG. There are things I am uneasy with (a major shareholder sold out last year - after the company had apparently made a big profit simply selling a ship to a "companion" company).

    But that aside, GLNG has created floating factories which deliver Gas as needed to the shore. This saves the port costs to establish on-shore Gas storage and distribution facilities. The ship is tied up, it is true, but its crew are transferred. GLNG see annual earnings well ahead of this years loss in 1916 and beyond.

    Its an interesting model and applies especially in second world locations where an offshore depot is an attractive idea. It doesn't matter that gas is cheap: in fact its an inducement to sign up. We are looking at a way to supply LNG, not just transport it. They are "First In".

    So (holding my breath) I am long Golar.
    Dec 2, 2015. 05:29 PM | Likes Like |Link to Comment
  • STMicroelectronics' (STM) Management at UBS Global Technology Conference (Transcript)  [View article]
    Why can these executives not speak English?
    Some company execs can - and they are generally in better run companies.
    If they can't communicate to us, how can they run a team?
    eg
    "markets most people are familiar with longer term industrial markets automotive, power and KIND OF analog as well"
    "It's not going to be a major consumer electronics company anytime soon, okay?"
    (Well, what IS it going to be? I ask)
    "So 75% of the company is really already KIND Of rationalizing heading in -- let's call the industrial embedded systems module"
    KIND OF - (Well, is it or isn't it? I ask. As for "Heading In", destination unknown).
    Then:
    "I mean down hole is obviously the markets we were depressed at the moment because of the oil price, but down hole -- and those industrial applications are extremely important"

    As usual with STM, its half clear what they aren't doing and impossible to gauge what they are. The European directors are even worse at describing activity.

    Eventually there is some slippery stuff about the (v important) Auto industry where its hard to know if they have any degree of moat. Their mirrors sound like a hopeful concept.
    Nov 17, 2015. 11:09 PM | Likes Like |Link to Comment
  • Hydrogenics Train About To Leave The Station  [View article]
    Hydrogen is going to finds a place because of the pressure to lower emissions.
    I am skeptical about China in many ways but one thing is for sure: the Govt can push things through if it wants to.

    Late in the day it is capturing free wind, and looking to store energy as hydrogen. They usually do things on a big scale. It is talking to a number of Fuel Cell producers. So the next question is: Is HYGS one of them. I don't know; but I see H2 creeping in steadily.

    In London, and I agree its gotta be subsidised - nasty economics - Fuel cell H2 is on sale at about $1.50 per kg at 300 atm pressure. That is said to give about 300 miles of travel.
    I think something similar in California but not sure what vehicles are being fuelled.
    So its starting.
    Nov 14, 2015. 04:32 PM | 1 Like Like |Link to Comment
  • Western Digital Worth $90 Following Recent Catalysts  [View article]
    Good article. Thank you! Good management is so much The Key.

    You say: "SanDisk's NAND flash manufacturing JV with Toshiba will be maintained. It expects to continue paying its dividend, but will suspend its buyback program." Who here is "It" ?

    S.M. said: ".. from the revised MOFCOM ruling .. first thing .. we expect to realize $400 million of annual operating expense savings"
    Should we take this figure with a pinch of salt? How does your $90 estimate of share price change if it is, say, $300M ?
    Nov 8, 2015. 07:02 PM | Likes Like |Link to Comment
  • STMicroelectronics NV (STM) Carlo Bozotti on Q3 2015 Results - Earnings Call Transcript  [View article]
    Year after year, I listen to Bozotti & Ferro. Each time, they dissemble and break off sentences, begin a new one. I don't know what is meant. They talk about individual months - which is meaningless. They compare or contrast percent change with absolute ($) change.

    I can't imagine what its like working under them. I can't imagine a focussed business.
    Oct 31, 2015. 01:52 AM | Likes Like |Link to Comment
  • STMicro reportedly mulling bid for Fairchild; STM drops, FCS rises  [View news story]
    Why ever would STM buy FCS?
    If the alternative remark that "French and Italian governments want STMicro to cut its dividend to up its R&D spend" is true, it would make more sense.

    STM (long held) seems randomly to produce endless stuff and hope for sales.
    Thats fair up to a point - you don't want to get too specialized and then find your customer dumps you - but ITM seems too broad. They never seem to have a clear focus. I do not think management is ideal. If it doesn't quite know what its doing, it can't inspire its employees. Buying FCS is a further diversion.
    I think they should (continue to) chase the auto industry.
    Oct 27, 2015. 06:50 PM | Likes Like |Link to Comment
  • Western Digital Paid Too High A Price For SanDisk  [View article]
    Too high a price: Couldn't agree more.
    Problem is, it implies a once good Management team isn't that good. Thats my worry.
    When you find you are sitting on a pile of cash, it seems to turn caution into profligacy.
    But - its done. Very worrying for future if this is our Management.
    Oct 22, 2015. 07:48 PM | Likes Like |Link to Comment
  • What A MOFCOM Settlement Would Mean For Western Digital Shareholders  [View article]
    Sitting on a ton of cash is always dangerous. I also dislike the tendency companies have to "need" to spend it - in this case on SNDK. I had thought WDC management above this.
    But its done. Not available any more.

    Separately, I also think its too early to write off the HDD market. More and more storage needed; still need HDDs.
    Oct 22, 2015. 08:26 AM | 1 Like Like |Link to Comment
  • SanDisk/Western Digital talks reportedly advance; SNDK jumps, MU/WDC drop  [View news story]
    If there is also the MOFCOM acceptance of the tie up with Hitachi (as we now hear), and WDC gets a Foundry, I can't see why WDCs stock price isn't higher.

    I also would prefer to see a WDC tie up with MU.
    Oct 19, 2015. 05:29 PM | 2 Likes Like |Link to Comment
  • What Unisplendour's Investment In Western Digital Means For Shareholders  [View article]

    Thanks for this article

    "the company could theoretically use the entire $3.8B to repurchase shares and reduce the share count"

    Good thought. Nice thought.

    Alternatively (& this where I need info), if it did use the $$$ to buy into "more storage" eg a NAND company, is that whats needed? Does having extra NAND production help? Is it a case of "you can't have too much"?
    Oct 8, 2015. 06:02 PM | Likes Like |Link to Comment
  • Hydrogenics: Bottled Promise Being Undermined By The Euro And Cashflow Issues  [View article]
    Just in: ""A large coalition of European partners has launched the Hydrogen Mobility Europe project (H2ME). H2ME is co-funded with €32 million from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU). The project will support the deployment of Fuel Cell Electric Vehicles (FCEVs) and Hydrogen Refuelling Stations (HRS) across Europe.""

    Maybe more € even if less value
    Sep 24, 2015. 08:31 PM | Likes Like |Link to Comment
COMMENTS STATS
208 Comments
77 Likes