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Skullcandy, Inc. (SKUL) Message Board

deanmortensen 123 posts  |  Last Activity: 9 hours ago Member since: Feb 15, 2009
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  • deanmortensen deanmortensen 9 hours ago Flag

    pulling, thanks for your kind words.

  • deanmortensen deanmortensen 11 hours ago Flag

    The basic economic problem is that most of the profits earned by the richest 3% are banked or invested. Middle class families spend almost all they earn, fueling economic growth. The rich bank almost all their earnings. Our economy has an excess of investment capital, which is why stocks are near record highs, and interest rates are at historic lows. There is spare production capacity in almost every sector of the economy. Part of the reason is that middle class and working people want to buy more of what the U.S. economy can produce, but they can't afford to, because their wages are stagnant. So, U.S. economic growth remains sluggish at 2-3% or so--far below its potential growth rate. Again, the problem is weak aggregate demand because workers' inflation adjusted incomes have flatlined over the past 30 years as all of the economic gains go to the richest 3% of U.S. households.

  • Reply to

    Anyone able to read the Bloomberg article?

    by lucenatraveler Mar 30, 2015 5:49 PM
    deanmortensen deanmortensen Mar 30, 2015 6:12 PM Flag

    Yes, I read it. Go to Bloomberg's website, and do a search for American Realty Capital Properties.

  • deanmortensen deanmortensen Mar 30, 2015 6:00 PM Flag

    The dry bulk biz isn't thriving as shipping rates are depressed. But, the South American logistics business is quite profitable and growing.

  • Reply to

    NRF looks like a spinoff story

    by deanmortensen Mar 27, 2015 9:33 PM
    deanmortensen deanmortensen Mar 29, 2015 5:52 PM Flag

    Okay. But I thought Dar's remark "what planet did you arrive from?" wasn't very polite, that's all. That remark he made was my introduction to Dar. If he got rich from NRF, it's fine with me--I don't have a problem with it at all. But, money isn't everything.

  • Reply to

    NRF looks like a spinoff story

    by deanmortensen Mar 27, 2015 9:33 PM
    deanmortensen deanmortensen Mar 29, 2015 5:24 PM Flag

    It appears I have hurt someone's feelings. Well, then I apologize for saying "the jury is still out", if it bothered you that much. Just a friendly word of advice: If you treat others respectfully, they usually respond in kind. If you feel that advice is inappropriate or doesn't apply in this situation, then please just ignore it and forget I said it. Have a nice day!

  • Reply to

    NRF looks like a spinoff story

    by deanmortensen Mar 27, 2015 9:33 PM
    deanmortensen deanmortensen Mar 29, 2015 5:09 PM Flag

    ruswise, if NRF can perform half as well as NCT did, we'll do fine!

  • deanmortensen deanmortensen Mar 29, 2015 5:00 PM Flag

    In fact I'm neither black nor Hispanic. Look, economists state that a rising share of U.S. economic gains goes to the richest 3%. That's a fact. It is what it is.

  • deanmortensen deanmortensen Mar 29, 2015 4:57 PM Flag

    Maybe I haven't "taken an economics class", but I do read the newspaper. Productivity gains have been quite strong on average over the last six years, but that hasn't produced rising wages. Unemployment has fallen sharply, but worker's wages are stagnant. On the other hand, the fortunes of the 1% richest Americans who own a large share of stock, bonds, real estate and businesses, have soared over the last six years. Again, economists say a rising share of the economic gains of the U.S. flow to the richest 3% of Americans. The low labor participation rate has a lot to do the fallout from the severe recession of 08/09 as well as the fact that "baby boomers" are reaching retirement age and leaving the workforce at a fast clip.

  • deanmortensen deanmortensen Mar 28, 2015 8:51 PM Flag

    Either they love him or they hate him! One thing I have to give Howard--when he's hot, he's hot!!!!! And, gosh darn it, he's red hot right now!!!!!!!!! Howard is on a roll, and he's taking BGCP investors on a joyride to the stars! A couple of years ago when the stock dipped below $4, things looked bad. Then Howard sold a piece of e-speed to Nasdaq Group for an unbelievable price!!!!!!!!! I was shocked and delighted!!!!!!! Howard always seems to be able to pull another rabbit out of his hat!!!!!! I never thought I'd be gushing over Howard, but...HE'S DA MAN!!!!!!!!!!!!

    Sentiment: Strong Buy

  • deanmortensen deanmortensen Mar 28, 2015 8:39 PM Flag

    Uhh...I'd just point out that the U.S. economy has created 3 million new jobs over the last 12 months, which is the best job creation since the sizzling 1990s. (When President Obama took office the U.S. was losing 800,000 jobs per month.) Because of two rounds of tax cuts for the rich under President George W. Bush, an ever larger percentage of the economy's gains to the top 1%. That "income inequality" issue is holding back the economy. Basically, what it comes down to is that the middle class isn't growing, and workers haven't had a raise in 30 years (after adjusting for inflation). Don't expect that to change in any meaningful way because along with their rising wealth, the 1% have consolidated political power via the GOP. No Congress member gets elected without coming hat in hand to the rich to beg for campaign cash, and when tax reform finally happens, expect the 1% to call in their IOUs. There are many reasons why incomes for working people have stagnated in the U.S.--globalization, technological changes, the decline in union representation. That's a big part of why there is little or no inflation in the U.S.. American workers lack the clout to demand higher wages. Labor costs comprise 70% of U.S. corporations' expenses, so when wages are stagnant, inflation is tepid. So, I don't expect interest rates to rise more than a couple of percent. Business conditions are pretty flat all over the world. Ditto inflation. A return to 1970s era inflation isn't in the cards.

  • Reply to

    Anyone figure out that high volume day

    by truthbetoldkids Mar 27, 2015 10:20 AM
    deanmortensen deanmortensen Mar 28, 2015 8:17 PM Flag

    There isn't much volume in FNJN on most days. All it takes is one hedge fund guy or institutional money manager trying to take a decent size position in FNJN to drive up the share price. FNJN is under the radar, but if it settles with Symantec FNJN will take off like a rocket.

  • Reply to

    NRF looks like a spinoff story

    by deanmortensen Mar 27, 2015 9:33 PM
    deanmortensen deanmortensen Mar 28, 2015 3:37 PM Flag

    Look, smarty pants, I've held a few NRF shares since 2009. Hamamoto always seems to be able to pull another rabbit out of his hat. Just thought I'd see if there is any intelligent life on this board. So far, the jury is still out.

    Sentiment: Strong Buy

  • deanmortensen by deanmortensen Mar 27, 2015 9:33 PM Flag

    The March 6th presentation on NRF's corporate website compares NRF's European properties and healthcare properties to "pure play" European reits and U.S. healthcare reits, respectively That suggests the coming spinoff of the European office properties is only the first of several spinoffs. Without explicitly stating that Hanamoto plans to ultimately spin out the healthcare assets as a "pure play" reit to increase shareholder value on the basis of yield arbitrage with existing "pure play" healthcare reits, he makes it clear that is his intent. Successive spinoffs of a "pure play" hotel reit, a New York office building reit, and a multifamily reit could follow.

    I expect Hanamoto to follow in the footsteps of Wes Edens at Newcastle Financial who over a couple of years spun out NRZ, SNR and NEWM from the parent company NCT, creating strong total returns for NCT investors as the "pure play" reits spun off from NCT traded at lower yields than NCT. NRF today is an $18 billion hybrid property/mortgage reit, but I think ultimately it will be the mother of several property reit progeny which will trade at lower yields than NRF's current 9%+ yield, producing strong total returns for shareholders who patiently wait for the spinoffs to happen in the fullness of time.

    Sentiment: Strong Buy

  • ...but that doesn't include the value of NM's ownership of a growing South American logistics business. NM owns 20% of NMM, and it also owns 46.4% of NNA. Adding up the value of those shareholdings and dividing by the number of NM shares outstanding gives a result of $4.20 at today's share prices. Basically, NM is currently trading below the value of its shareholdings in other Navios companies. So when you buy NM shares, you get NM's thriving South American logistics business and its dry bulk shipping business for free. NM's dividend payouts are completely covered by the dividends it receives from its shareholdings in NMM and NNA + dividends from the logistics business, so even if NM's dry bulk business produces zero free cash flow the dividend payout is safe.

    Sentiment: Strong Buy

  • their current market value come to over $5 per NM share. So, basically, when you buy NM stock, you get the dry bulk shipping biz for free. NM's common share dividend payout is completely funded by the dividend payouts it receives from the shares it owns in other Navios companies and its growing South American logistics biz. That means that even if NM's dry bulk shipping biz doesn't generate any free cash flow, the dividend is not at risk.

  • deanmortensen deanmortensen Mar 18, 2015 8:30 PM Flag

    Correction: $9.6 Billion UPB of Mortgage Servicing Rights.

  • WAC is buying $6 Billion Plus Unpaid Principal Balance of Mortgage Servicing Rights from Ocwen, according to Bloomberg.

  • deanmortensen deanmortensen Mar 16, 2015 6:52 PM Flag

    Thanks, cuz. Nice to get moral support from another Martinsson.

  • Reply to

    Paragon releases 10 K...

    by insider_expert Mar 13, 2015 8:22 AM
    deanmortensen deanmortensen Mar 13, 2015 7:15 PM Flag

    shabamoon, you seem to forget that on the 4Q CC, PGN management stated that utilization and rig rates will fall in 2015. Stilley stated he expects revenue to fall 20-25% in 2015 from 2014. The rig contracting environment is awful. Haven't you heard that every E&P company out there has cut capex for 2015? Look, with Brent at $58, there's a lot less demand for drilling rigs than when Brent was $110. Makes sense, no?

    In spite of the plunge in Brent price and the awful contracting market, Stilley still expects PGN to have at least $1.5B in 2015 revenue, and it is estimated that PGN will produce $2/share of free cash flow in the worst case. And, that ain't bad. It shows that PGN is a very competitive driller, and that its low cost, high quality services are still needed, and are in demand. It appears the "Golden Years" of $100+ oil are gone, but PGN is a scrappy, lean, focused drilling company that can compete in this cost conscious, hypercompetitive environment.

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