BGPBorders Earnings Call Notes08/27/08
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I think people are missing just how good a job Borders (BGP) CEO George Jones is doing there...
Notes from the earnings call:
- In the first half of this year, cash flow from continuing operations improved by $195.7 million compared to a year ago
- SG&A dollar expenses from continuing operation...
Durable Goods, Or The Reason to Ignore Most Economists08/27/08
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Durable goods orders (manufactured goods designed to last at least three years) increased 1.3% last month to a seasonally adjusted $219.26 billion, the Commerce Department said today. Excluding transportation, durable orders rose a promising 0.7%.
Orders in June were revised higher, also rising 1.3%...
BRK.ABerkshire Hathway's Home Services Peltier on Housing08/27/08
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Here are more thoughts n housing from the front lines and from the 30,000 foot view.
Berkshire Hathaway's (BRK.A) Home Services on Housing
Case Schiller Results:
Simple conclusion? If your looking for that cheap vacation home, 2009 ought to be the year to pick one up on the cheap....
...
Wednesday's Links08/27/08
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Oil, In-Laws, History, Mobil TV
- Here is the reason for the high prices
- You think your in-laws are bad?
- This is an interesting article on the Fed and history
- I already have some of this with Sprint
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BGPBorders Earnings / Debt Reduction Beat Estimates08/26/08
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The really good news here is the reduction of debt by almost 40% YOY.
From the release:
Borders Group, Inc. (BGP) today reported results for the second quarter, ended Aug. 2, 2008. The company generated a second quarter loss from continuing operations of $11.3 million or $0.19 per share, which rep...
PGSHLDSome Additions at Sears Holdings08/26/08
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The best news here is the new head of the "Big three" brands at Sears Holdings (SHLD)
The former head of Motorola's (MOT) mobile devices business, Stu Reed, will become senior vice president of Sears's home services unit. His predecessor was Mark Good. Former Procter & Gamble (PG) senior execut...
Fed Auction Results Released08/26/08
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this is the lowest bid toi cover ration yet...good news.
On August 25, 2008, the Federal Reserve conducted an auction of $75 billion in 28-day credit through its Term Auction Facility. Following are the results of the auction:
Stop-out rate: 2.380 percent
Total propositions submitted: $84...
Fed Minutes Released08/26/08
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Here are some of the key sections.
Growth:
In their discussion of the economic situation and outlook, many FOMC participants noted that recent developments suggested that economic activity was likely to remain damped for several quarters. Although economic growth in the second quarter had apparentl...
MECAMIMAn Einhorn Classic08/26/08
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This is beautiful stuff. David Einhorn's Greenlight Capital has files a 13D/A in MI Development (MIM) in regards to its investment in Magna Entertainment Corp. (MECA). The letter is classic Einhorn. First he reviews his prior concerns, then lists managements dubious actions, then questions them remin...
Tuesday's Links08/26/08
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Patriotism, Foreclosures, Biden, Sequoia
- If you need to tell folks......you have a major problem.
- Cheap stuff from the bank
- So, this is the guy? Really? Is Obama bent on losing?
- This bears looking into
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LEHBove on Fuld (video)08/26/08
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Bove in on the tube more recently than either Obama or McCain.
Watch the video:
Bove is right that replacing Lehman (LEH) CEO Dick Fuld will not "fix" Lehman. But, Fuld is responsible for the mess they are in and replacing him would be a step in the right direction to restore investor optimi...
WFCWells Fargo Doesn't Want Other's Junk...Surprised?08/26/08
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Not sure why this is a surprise.
Wells Fargo (WFC) CEO John Stumpf said in an interview with the Financial Times.
Stumpf quashed repeated speculation that Wells, the fifth largest US bank, would take advantage of the collapse in the shares of many rivals to clinch a large deal.
“A large transfo...
Monday's Links08/25/08
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Thank you, Buffett, Schumer, Fed
- A thank you to the Wall St. Journal for the mention.
- The best quote from Friday's Buffettpaloosa
- His cheap politics has damaged housing almost as bad as the lousy loans
- Isn't what they should do?
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BRK.BBerkshire Shares Not a Value Yet08/25/08
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7/29 - "Okay, so, if housing is going to drag for another 18 months, then Berkshire's results will also. So, one would then expect lower comp. earnings and hence a lower share price.
Financials institutions like American Express (AXP), Wells Fargo (WFC), Bank of America (BAC), USB (USB), M&T Bank ...
AXPWFCAmerican Express or Wells Fargo, What Did Buffett Buy?08/25/08
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After Buffett teased the investing world Friday saying he bought more of either Wells Fargo (WFC) or American Express, folks are speculating as to which one he bought. I was under the impression Buffett and Bekshire (BRK.a) had virtually tapped out their ability to buy more American Express (AXP) sha...
AXPWFCAmerican Express or Wells Fargo, What Did Buffett Buy?08/25/08
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After Buffett teased the investing world Friday saying he bought more of either Wells Fargo (WFC) or American Express, folks are speculating as to which one he bought. I was under the impression Buffett and Bekshire (BRK.a) had virtually tapped out their ability to buy more American Express (AXP) sha...
BRK.AWallace Weitz Disucsses His Investment Approach08/25/08
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Weitz discusses his Berkshire (BRK.A) approach to investing.
Disclosure ("none" means no position):None
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HDLOWHome Depot or Lowe's or Neither?08/24/08
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Both Home depot (HD) and Lowe's (LOW) reported last week and the news was better than expected for Lowe's and worse for Home Depot.
Lowe's (LOW) reported net earnings of $938 million for the quarter ended August 1, 2008, a 7.9 percent decline from the same period a year ago. Diluted earnings per sh...
WAGThe Week's Top Stories at VIN08/24/08
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Here are the Top 15 this week at Value Investing News
1. Stock Analysis: Walgreen Co (WAG)
(via www.thediv-net.com)
Walgreen Co is the largest U.S. retail drug chain in terms of revenues. It sells prescription and non-prescription drugs, beauty care, personal care, household items, candy, photofinis...
Joe Biden on Obama and McCain08/24/08
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Ignore what others say and listen to what the man himself says..
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