Archive for March 8th, 2008
Filed under: Boeing Co (BA), Northrop Grumman (NOC)
As he stumps for President, Senator John McCain likes to brag about how he kept Boeing Inc. (NYSE: BA) from winning a contract to build Tankers — in-flight refueling aircraft — for the Air Force in 2004. Last week, the Air Force announced that the winner of the contract was Boeing’s arch-rival, EADS, parent of Airbus which is based in Toulouse, France and Northrop Grumman (NYSE: NOC).
That decision is sitting very well with the governor of Alabama, where Northrop Grumman is based. Republic Governor Bob Riley endorsed McCain a mere three days after the Air Force contract was announced. The EADS-Northrop tanker, based on the Airbus A330, will be built in Mobile, AL, where The Associated Press reports it will produce 2,000 new jobs, and support 25,000 jobs at suppliers nationwide.
Is it just a coincidence that Riley endorsed McCain so soon after that contract was awarded? Boeing supporters in Congress may be wondering and they are angry with McCain “for scuttling an earlier deal that would have let Boeing build the next generation of Air Force refueling tankers.” AP reports that Boeing now will miss out on a deal that it says would have supported 44,000 new and existing jobs at the company and suppliers in 40 states.
Continue reading Did John McCain deny Boeing a $100 billion contract for an Alabama endorsement?
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The New York Times reports that a distressed securities investor, Arthur D. Lipson, has a plan to unfreeze the accounts of those people who were suckered into thinking that Auction Rate Securities (ARSs) were as good as cash. But ARSs, whose rates were supposed to reset every week at about 3%, are illiquid because accounting rule changes made them quite unpopular with corporate treasurers. The resulting failed auctions have frozen the accounts.
I posted on this $330 billion ARS market last week and have been stunned to learn about all the people who thought that significant portions of their life savings were safe, only to learn that the funds are frozen. For these people, it’s as if they went to the bank to withdraw their deposits and now they can’t get their money out. I don’t know how these people can sleep at night. I’d have trouble coping.
But Lipson argues that the closed-end funds that hold these ARSs are trading at a discount and that these discounts present an opportunity for closed-end funds to do the right thing, for both common and preferred shareholders. Lipson suggests that these closed-end funds’ managers should sell the underlying securities - utility stocks and shares of real estate investment trusts - and use the proceeds to buy back common shares.
Continue reading Will Arthur D. Lipson’s plan unfreeze Auction Rate Securities?
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Filed under: Marketing and advertising
 I recently had a chance to talk to Eric Mathewson, who is a tech veteran. Hey, back in 1994, he started to invest in the Net. Needless to say, he’s done quite well.
But Mathewson is also an entrepreneur; that is, back in 1999, he started WideOrbit (and yes, he put a slug of his own cash into the venture). His vision was to help customers manage traditional and online advertising (which, by the way, is no easy feat).
So far, it’s been a good bet. In fact, the company has snagged $14.5 million in venture capital. The investors include top players like Khosla Ventures, Greycroft Partners and Hearst Corporation.
Then again, WideOrbit has built a comprehensive platform, which covers things like traffic management, sales management, billing and so on. The company has more than 900 customers, such as The New York Times (NYSE: NYT), General Electric’s (NYSE: GE) NBC, and Qualcomm (NASDAQ: QCOM).
With the its venture capital, WideOrbit plans to expand its software offerings and move further into global markets. After all, there many things to consider — such as mobile video, digital display networks, etc. In other words, there’s still lots of opportunity for growth.
Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements . He also operates DealProfiles.com.
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Filed under: Boeing Co (BA), Northrop Grumman (NOC)
As he stumps for President, Senator John McCain likes to brag about how he kept Boeing Inc. (NYSE: BA) from winning a contract to build Tankers — in-flight refueling aircraft — for the Air Force in 2004. Last week, the Air Force announced that the winner of the contract was Boeing’s arch-rival, EADS, parent of Airbus which is based in Toulouse, France and Northrop Grumman (NYSE: NOC).
That decision is sitting very well with the governor of Alabama, where Northrop Grumman is based. Republic Governor Bob Riley endorsed McCain a mere three days after the Air Force contract was announced. The EADS-Northrop tanker, based on the Airbus A330, will be built in Mobile, AL, where The Associated Press reports it will produce 2,000 new jobs, and support 25,000 jobs at suppliers nationwide.
Is it just a coincidence that Riley endorsed McCain so soon after that contract was awarded? Boeing supporters in Congress may be wondering and they are angry with McCain “for scuttling an earlier deal that would have let Boeing build the next generation of Air Force refueling tankers.” AP reports that Boeing now will miss out on a deal that it says would have supported 44,000 new and existing jobs at the company and suppliers in 40 states.
Continue reading Did John McCain deny Boeing a $100 billion contract for an Alabama endorsement?
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Filed under: Earnings reports, Intel (INTC), Ciena Corp (CIEN), Trump Entertainment Resorts (TRMP), Staples Inc (SPLS)
Here are a few highlights from this past week’s earnings coverage from BloggingStocks:
Also, Dell Inc. (NASDAQ: DELL) struggles to maintain profitability against competitor Hewlett-Packard Co. (NYSE: HPQ). See Timothy Sykes’s take on Warren Buffett’s annual letter to Berkshire Hathaway (NYSE: BRK.A) shareholders. And Zac Bissonnette is interested in where earnings actually come from.
Upcoming results to watch for include Kroger Co. (NYSE: KR), Boston Beer Co. (NYSE: SAM), J. Crew Group Inc. (NYSE: JCG), Jones Soda Co. (NASDAQ: JSDA), Blackstone Group (NYSE: BX), and Men’s Wearhouse Inc. (NYSE: MW).
Visit AOL Money & Finance for more earnings coverage.
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The New York Times reports that a distressed securities investor, Arthur D. Lipson, has a plan to unfreeze the accounts of those people who were suckered into thinking that Auction Rate Securities (ARSs) were as good as cash. But ARSs, whose rates were supposed to reset every week at about 3%, are illiquid because accounting rule changes made them quite unpopular with corporate treasurers. The resulting failed auctions have frozen the accounts.
I posted on this $330 billion ARS market last week and have been stunned to learn about all the people who thought that significant portions of their life savings were safe, only to learn that the funds are frozen. For these people, it’s as if they went to the bank to withdraw their deposits and now they can’t get their money out. I don’t know how these people can sleep at night. I’d have trouble coping.
But Lipson argues that the closed-end funds that hold these ARSs are trading at a discount and that these discounts present an opportunity for closed-end funds to do the right thing, for both common and preferred shareholders. Lipson suggests that these closed-end funds’ managers should sell the underlying securities - utility stocks and shares of real estate investment trusts - and use the proceeds to buy back common shares.
Continue reading Will Arthur D. Lipson’s plan unfreeze Auction Rate Securities?
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Filed under: Marketing and advertising
I recently had a chance to talk to Eric Mathewson, who is a tech veteran. Hey, back in 1994, he started to invest in the Net. Needless to say, he’s done quite well.
But Mathewson is also an entrepreneur; that is, back in 1999, he started WideOrbit (and yes, he put a slug of his own cash into the venture). His vision was to help customers manage traditional and online advertising (which, by the way, is no easy feat).
So far, it’s been a good bet. In fact, the company has snagged $14.5 million in venture capital. The investors include top players like Khosla Ventures, Greycroft Partners and Hearst Corporation.
Then again, WideOrbit has built a comprehensive platform, which covers things like traffic management, sales management, billing and so on. The company has more than 900 customers, such as The New York Times (NYSE: NYT), General Electric’s (NYSE: GE) NBC, and Qualcomm (NASDAQ: QCOM).
With the its venture capital, WideOrbit plans to expand its software offerings and move further into global markets. After all, there many things to consider — such as mobile video, digital display networks, etc. In other words, there’s still lots of opportunity for growth.
Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.
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Filed under: General Electric (GE), Time Warner (TWX), Walt Disney (DIS), Viacom (VIA), CBS Corp ‘B’ (CBS), News Corp’B’ (NWS), Politics
 Walt Disney Co. (NYSE: DIS) held its annual shareholder meeting last Thursday, and a couple interesting things were discussed, according to a Hollywood Reporter piece.
Apparently, a mutual fund manager challenged management regarding a controversial miniseries called The Path to 9/11, claiming that Disney has decided not to exploit the project on home video because of political considerations. I vaguely remember this miniseries, but it seems to have been critical of President Bill Clinton, and since his wife is running right now, well, maybe the decision was based on not interfering with whatever momentum she may (or may not) have. The mutual fund guy said CEO Bob Iger has been a donor of Clinton (as one can imagine, Iger denies that politics are involved here).
I am really not sure if this guy has a legitimate point or not, or what his bias is, but let me say this — if the miniseries did really cost $40 million, then it should be out on DVD, period. Shareholders should be angry about that. Content is king, new distribution platforms are the kingdom, and if this miniseries is controversial, then it might bring in a little bit of cash to the Mouse’s coffers. Now, I obviously realize that not releasing the miniseries isn’t going to break Disney — but I do want the company to aggressively exploit any and all content, especially one that cost $40 million to generate.
Continue reading Disney’s annual meeting: On Iger’s pay and a controversial miniseries
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Filed under: Earnings reports, Intel (INTC), Ciena Corp (CIEN), Trump Entertainment Resorts (TRMP), Staples Inc (SPLS)
Here are a few highlights from this past week’s earnings coverage from BloggingStocks:
Also, Dell Inc. (NASDAQ: DELL) struggles to maintain profitability against competitor Hewlett-Packard Co. (NYSE: HPQ). See Timothy Sykes’s take on Warren Buffett’s annual letter to Berkshire Hathaway (NYSE: BRK.A) shareholders. And Zac Bissonnette is interested in where earnings actually come from.
Upcoming results to watch for include Kroger Co. (NYSE: KR), Boston Beer Co. (NYSE: SAM), J. Crew Group Inc. (NYSE: JCG), Jones Soda Co. (NASDAQ: JSDA), Blackstone Group (NYSE: BX), and Men’s Wearhouse Inc. (NYSE: MW).
Visit AOL Money & Finance for more earnings coverage.
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Filed under: Wal-Mart (WMT), Columns
 Welcome to the 52nd installment of The Wal-Mart Weekly, a column dedicated to bringing you insight, wit, facts, results, opinions, and just a bit of everything else when it comes down to a very hot topic these days: Wal-Mart.
In this week’s Wal-Mart Weekly, I’ll be looking at the retailer’s entrance into the world of open and frank communication with the world at all levels. Wal-Mart Stores Inc. (NYSE: WMT) appears to be allowing some of its purchasing and merchandising employees to blog openly about products in the categories they procure for all Wal-Mart’s store locations.
It would seem this is a touchy area, since allowing unfiltered blogging (bad and good) about products sitting on Wal-Mart shelves would not only get some vendors and suppliers charged up, but turn away sales to some potential customers as well.
Continue reading The Wal-Mart Weekly: Checking out the retailer’s unfiltered blog
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