OK, I'm back... and I have to say that you're doing better, auto-bump.
You put up 11 bumps of this important message and it appears that you never let it get more than half way down page one on this board.
Remember that if you're going to work for the GOP like this, you've got to be effective and at the top of your game. There's no room for slackers like they've got over there on the democrat side where they all sit around complaining about how unfair that it is to have WET( White Entertainment Television) and the CWC (Congressional White Caucus) without there being similar media and government organizations to represent other cultures in this country.
Your project for today, Son, is to figure out a way to change the defaults on this board so that everyone here automatically sees a posting for 6 months instead of 3. Your handlers at GOP central are telling me that it is so important to get the message out about Obama driving investment capital overseas that they want everyone to see this post for an extra 3 months "by default"...
... and your good buddy, Karl Rove, said he will personally thank you if you can get this post bumped at least 1,000 times by Thanksgiving.
Keep up the good work, a-bump.
Amazing lead post, blitz.
My health insurance premiums are up by about 65% since the initial impacts of Obamacare first took effect.
I was listening to Miller on the radio this morning and a guy from my state came on saying that he just got a letter from his insurance company telling him that his premiums will effectively double on January first due to Obamacare...
... looks like mine will be more than doubled in total once I get the letter that he just got.
With the huge financial bombs that are landing on us individuals, and corporations, to pay for Obamacare, it's amazing that it is so critical to also budget a lot of additional government spending for Obamacare in ADDITION to the huge hits on the rest of us. If Obama's claims about Obamacare's low costs were true, there would be FAR MORE than enough WITHOUT asking Boehner to cough up more in the US budget... or else Obama will shut down the US if he doesn't get it.
No law in American History was ever more poorly named that...
.......... the "affordable care act" (sic)
This is definately above the 6 month moving average for visitation. When combined with the ALOS multiplier, it's very encouraging.
Clearly, the new trains and expansions of the gates/ferry terminals are having an impact that's mostly evident with mainland chinese visitation.
Good to see you, neo.
We've managed to keep the lead posts on this board as constructive as possible in terms of info sharing.
That also goes for re-posting informative posts here from other boards when you run across them.
Hopefully, this board can serve as both a "best of LVS" and "best of macau gaming" refuge.
We havn't seen any riff-raff from the "junk" board here yet, but as a reminder, if we ever do, it's essential that we completely ignore them in every way.
Should be a good slide show on the company website sitting out there after it's over... maybe with some thunder that's stolen from next months conference call :-)
I was scheduled to go to Biloxi for blackjack about a week after Katrina hit.
I just re-scheduled it to Vegas.
I would imagine that many punters who cancelled Macau because of the Typhoon will simply re-schedule...
... they wouldn't want to waste their periodic visa slot.
Adelson should offer to build a non-gaming resort on site's 7 and 8...
... in return for getting the parcels back.
Given that Sands has 4, large casinos within a block of those sites, anything they would build on them would be accretive to everything they already have on central cotai.
It's American Capital Limited (ACAS).
You probably remember that I've had the stock for awhile... in fact, you probably remember an LVS poster named "Cas" who used to joke about how that stock's symbol resembled his handle.
ACAS has made me a lot of money, but it's stock is now lagging significantly behind it's NAV, which has roared skyward for the past few years. ACAS sells at a bigger discount to NAV, by far, than any other private equity company... a whopping 35% discount.
As a result, the company opted out of it's BDC status because of it's huge, tax-loss carryovers from 2008, which relieved them from paying a dividend and allows them to very aggressively buy back their own stock..... at that 35% discount I mentioned.
2 things hold ACAS back... swooning earnings, which I think will improve, and the lack of a dividend to attract income investors, who are the usual investors in private equity firms.
Most would argue that with a company like ACAS, earnings take a back seat to an ascending NAV, and I would agree, but if the company were to start achieving both next year, then it's very cheap valuation would be magnetic for opportunistic investors.
Like most great, contrarian plays, this stock is cheap and has some hurdles to overcome, but in this day of the S&P and Dow hitting record highs, I see it as a rare, contrarian gem amidst a market where decent, contrarian plays are hard to come by.
Seeking alpha has some good pieces on ACAS if you look in the headlines section of yahoo symbol ACAS...
... let me know if I can answer any other specific questions on it for you... I'm hoping to buy additional, large traunches in the mid-$12 range if the budget fight can get it down to that price for me.
Excellent macau fine points piece.
SJM is the only concessionaire who is regularly getting in trouble for violating the smoking law. As the ex-monopolist that SJM is, it's the most compelled to revert to the heavy-handed tactics that it deployed prior to the handover, so they are most cavalier about laws and rules.
Same was true with the 1.25% junket caps agreement in 2010... SJM violated them even before the ink was dry, and the SAR's half-hearted effort to enforce them ended up swept under the rug.
I'm certain that SJM and that particular 3rd-party operator (MCE) will be allowed to move their gaming tables to other venues. If not, then that would be a pleasant surprise, eh?
I agree with your MPEL decision. I was studying it over the weekend and it's clearly price irrationally given the question marks surrounding Studio City and it's currently optimized COD operations (eg: not much upside when you're already firing on all cylynders).
IBD is "Investors Business Daily", and their composite ranking is a momentum scoring mechanism that's similar to Value Line's "timliness" ranking.
As such, those indicators are "buy" signals for momentum investors, but huge "caution" lights for contrarians because the metrics that push a stock into such high, momentum scorings are often metrics that measure excessive euphoria.
In LVS's case, those momentum scorings compel me to challenge my feelings about LVS's forward PEG and PCFG assumptions on a daily basis and prove to myself that it's price still has solid, fundamental under-pinnings and isn't turning into something that's fueled by irrational euphoria as it was back in 2007.
There are many warning signals on LVS now... which puts it squarely in the "mature" category of Templeton's mantra now...
... I may well have harvested a lot of LVS by this time next year if my reasons for holding it now pan out.
@ goos re: "taxes upon taxes"...
When the democrats were working to ram Obamacare through (not a single republican voted for it, despite Obama's "bipartisanship" campaign slogans), the found a way to compel the CBO (Congressional Budget Office) to declare that Obamacare would be "revenue neutral"...
... as a result of a scheme to pay for the first 6 years of Obamacare with 10 years of increased taxes (taxes kicked in immediately with a 4 year delay in Obamacare implementation).
Now, we're finding out that that wasn't true at ALL.
First of all, Obama said ALL ALONG that our insurance premiums would not spiral out of control like this... he lied, Virginia.
Secondly, he said the CBO was correct... it wasn't... there was a lot of smoke and mirrors in those thousands of pages of Obamacare that nobody had time to read before the vote.
For example: The 3.8% surcharge on the capital gains tax... that was one of the taxes that were raised later as we gradually determined that the "affordable care act" was way beyond being affordable...
... and that the numbers given to the CBO were, in fact, so much "smoke and mirrors".
Obamacare is a "runaway entitlement" already... and it isn't even fully implemented yet!!!
A few additional points, blitz:
ACAS has both captial-loss carryovers AND operating loss carryovers. They eliminate taxes on gains from selling portfolio companies by employing the carryovers, and they eliminate taxes on profits by employing the operating loss carryovers. Remember that earnings include mark-to-market calculations on their portfolio companies, and profits do not.
The ascention of NAV is 2-pronged. Firstly, it reflects the mark-to-market values of it's companies held, and secondly, it's gunned by the stock buybacks, by the magnitude of the discount to NAV that the stock trades at.
I would also add that the 2nd quarter was significantly impacted negatively by the affect that the huge drop in mortgages had on American Capital Agency, which ACAS provides portfolio management for. ACAS isn't impacted by AGNC portfolio losses (marked to market) because ACAS has no interest in AGNC's assets... rather, it's "fees received" are negatively impacted.
Q2 will certainly be "the worst of it" at AGNC, so I see the earnings hit that ACAS sustained in Q2 to be more transitional that most investors do, which is helping to magnify the buying opportunity... hopefully below $13.
Hope this helps,
People mostly don't realize it, but that is true.
Obama's genesis is as an "anti-colonialist", which was the passion of his father. It was born out of hatred for how colonial powers would exploit Kenya and it's citizens.
Once in America, Obama's childhood mentor was an outspoken communist (Frank Davis) and his Grad School advisor was a renouned socialist.
Together, they transformed Obama's hatred for "colonialism" into a hatred for "capitalism" by compelling him to believe that capitalists exploit their workers, just as colonialist powers exploit the citizens of the countries that they colonize.
Of course, that isn't true... particularly in modern day America. But it's fundamental to Obama's belief that Corporations and profit-making businesses should be minimized and government power should be maximized, since government is not influenced by the profit-making incentive that private business is.
So why, do you ask, is Hillary unbelievably to the left... of the left-most president in american history?
Other than the fact that she was a "flower child" from the woodstock generation that elected the left-most "entire government" in US history (Lynden Johnson, John McCormack & Hubard Humphrey combined to create the greatest concentration of leftist governance in american history, which led to the out-of-control "great society" programs of today), I really couldn't say, but she is hoping that the name "clinton" will fool people into believing she's to the right of her ultra, ultra, leftist ideology that she so demonstrated as a US Senator.
Yes, and the "choice" of the 45% of americans that don't pay any federal income taxes is, in the aggregate, a different choice than the 5% of americans who shoulder almost 60% of US federal income taxes.
The result: Ex-patriations and the use of un-productive tax shelters has never been greater, and because of that, "capital deployment" into capital expenditures earmarked for "new businesses or construction" are a a multi-year low, and the people who are unemployed as a result of such dire capital deployment in america are the primary reason why the US "labor participation" rate is the lowest it's been since 1978.
Hope that helps you to understand the ramifications of the "choices that we've made".
I have no particular love for the "wealthy" in America...
... but I support laws that incentivze the wealthy to deploy their investment capital HERE... to build business and industry HERE... which leads to job creation HERE IN AMERICA.
Obama is punishing those americans with the most investment capital to invest with high taxes and incentivizing them to invest in un-productive tax shelters or overseas economies.
Almost every wealthy person I know got that way by leveraging themselves with "human capital"... essentially, employing and promoting others in the quest for profits. The most successful businesses and corporations train and launch the successful careers of thousands of employees, who go on to succeed as well...
... as long as high taxes and an anti-business president like Obama doesn't stop them with socialist policies like the ones he is implementing presently.
Hope this help's, foo_fighter. I see you're far down the learning curve on the subject of international economics.
Without offering what you will find when you do...
... I would encourage you to research philanthropic giving by members of congress and discover who is philanthropic and who is not.
Given the rhetoric, one would think the results would be exactly the opposite of what is actually true.
Leven said at yesterday's conference that they're pretty much waiting for the government(s) to sign off on their required concessions.
LVS clearly was able to underscore their requirements with the loss of the Olympics, and now they're just waiting while the respective governments stew in their grief over losing the olympics. The result is that the pro-casino politicians are more assertively making LVS's case "for" them and LVS doesn't want to ruffle the feathers of the anti-casino people while the pro-casino people state their more powerful case.
Interesting that one guy operating close to the border (part 2) was saying his business has grown by 30% in 3 years... yet gaming volumes overall in macau have doubled... from 15.3 billion patacas in September of 2010 to over 30 billion at present average monthly run rates. S.
If you're copying it from a piece with lots of illustrations, it ends up messy. In those cases, just copy it into your notepad, clean it up, then copy it to your post.
As blitz says, once copied, you can't add any characters without it ending up chopped, so add any text that you want to include in the piece on your notepad before copying it into the post.