The template for the Sears’ endgame has been around for better than 5 years. It is common knowledge that in 2007, Eli transferred ownership of the only real assets in Sears (brand names Kenmore, Craftsman & Die Hard) to KCD IP. KCD then issued $1.8 billion worth of bonds backed by IP and sold them to Sears’ Bermuda insurance subsidiary. So now what? Bermuda sells the bonds to outsiders. Eli winds up holding $1.8 billion in cash, and Sears’ investors would be holding the bonds (or the bag).
Pretty apt analogy. The charts certainly look like an escalator going down, down, down, and I thnik the controls are broken, too.
Sentiment: Strong Sell
Wiggy – Not a bad idea, but right now the real GM certs are too rich for my blood. They gotta be worth at least a nickel each, so I’ll wait for them to fall off to their real value level. Gotta admit though, they would look good papering my laundry room and would be very appropriate in that context.
There is an upside, you know. If there have been any actual certs issued, I’m going to try to buy a bunch of them. At $.03 per cert, they’ll make some great wallpaper for my bathroom. That way, when I am seated in deep contemplation, I will be able to recall all the luminaries and sages that used to hang out here. Ah, for the good ol’ days.
Looking forward to the fourth-quarter and fiscal 2012 results conference call on November 6. Any thoughts to the message? I’m putting the odds at 3:1 that any disappointing numbers will be blamed on the Indonesian flood. Again.
Sentiment: Strong Buy
Well Sammy, what did you expect? You go into a place that exists for people that want to be thought of as avant garde and socially superior, that has toney names for common counter people, and that serves over-cooked sock wash as an inside joke to prove that people will ingest anything if they think they are supposed to. If you want to feed your pretentious self-important image, keep going to SBUX and be willing to pay the price. If you want a good cup of coffee, try about anywhere else. Personally, I hope you keep going to SBUX. I count on your and others baa-baa mentality to boost the stock price.
Bobby, what kind of mushrooms have you been eating? If FB makes that move, the combined value will approximately be that of a share of Studebaker.
No posts since 5/24? Guess we’re all asleep. This latest price slide is a nightmare from which we need to awaken, though. I cannot just dismiss it as Emerson merely “following the market”.
This is not your father’s Emerson. Over many years CFK carefully built a balanced corporate structure, staffed Emerson’s companies with seasoned professionals who earned their chops over many years of working their way up through the organization, and ran it with a management model that was focused, efficient, and second to none. DNF (interesting enough, also a motorsport acronym for “did not finish”), in a little over 10 years, has scrambled, imbalanced and confused the corporate structure, staffed the companies with a bunch of wet behind the ears MBA types whose only prior business experience has been as analyst toadies at the corporate office, and runs it with a flavor of the year, inconsistent buzzword-driven mentality befitting of the immense egos that now monetarily benefit while the corporation and stockholders languish.
As the stock continues to shed value, it is probably worth picking up shares in advance of the inevitable buyout that will be brought forth by a share price whose vulnerability begs for such action.
Buck - this guy doesn't have any reality-based time frames, he just doesn't take his meds on a regular schedule. Read some of his older posts and consider very carefully any of his "advice".
Yo, ‘meister, do a search on this guy and read some of his older posts. He apparently lives in his own world where reality is only what he defines it to be. Like most delusionals he seems to be harmless enough, but it would be advisable to weigh very carefully any of his comments much less recommendations.