National Beef was a very poor and very large investment. They are still stuck with this white elephant.
Also, it has become obvious that LUK overpaid for JEF. It will take time coupled with good performance by JEF to earn a decent risk adjusted return on JEF. Could be a good investment at this point but only time will tell.
It just keeps getting better and better. Great rates! $100 million in new auto loan originations in 1 month!!! The origination platform that is in place is now at the level of peak efficiency. This will have a very positive impact on earnings. A very big CONGRATULATIONS to John and John and their outstanding team!
Everything about the first quarter results are very impressive. This bank is really on a roll.
Last week's announcement regarding CRPB's 4th securitization once again (http://finance.yahoo.com/news/california-republic-bancorp-announces-completion-221100384.html)
demonstrates the continued progress this management team is making for the benefit of CRPB's shareholders. The rates obtained show the continued improvement in spreads that occurred at the time of the second and third securitizations. The A-1 note class has an interest rate of .25% which is only 18 basis points above the 6 months CMT (constant maturity treasury rate of .07%) and compares very favorably to the .33% of securitization #3 which was 23 basis points above the 6 months CMT. The A-2 to 4 note classes had a combined average interest rate of .96% which is only 5 basis points above the 3 year CMT and compares even more favorably to the 1.23% of securitization #3 which was 66 basis points above the 3 year CMT...WOW! Going to 6 note classes from 4 and adding 12 new capital market buyers to the platform made a significantly big difference. This represents incredible progress in such a short period of time.
Another big CONGRATULATIONS! to our management team for this continued outstanding performance.
Sentiment: Strong Buy
Today's announcement regarding CRPB's 3rd securitization demonstrates the continued progress that CRPB is making for the benefit of shareholders. The rates obtained show the continued improvment in spreads that occurred at the time of the second securitization. The 2 prime truanches have a combined interest rate of 1.073% or 50 basis points over the 3 year constant maturity treasury rate. This compares to 1.245% or 55 basis points over the constant 3 year maturity treasury rate in June (2013) and 1.18% or 83 basis points over the constant 3 year maturity treasury rate in November (2012). With the auto loan origination rate running at about $70 million per month and still increasing this is becoming a very profitable business.
A big and hearty CONGRATULATIONS to management for doing an excellent job!
Sentiment: Strong Buy
Is anyone concerned about Select Comfort's revenue shortfall and their revenue guidance and whether or not their revenue problem may be an industry problem and not just a Select Comfort problem?
MRFM weak. Very disappointing quarter highlighted by disappointing conference call coupled with significant downgrading of future earnings estimates by company and all the analysts. Where do we go from here?