The LL CEO was on CNBC this morning, and detailed some facts. The "issue" is with some of the Chinese laminate flooring, which accounts for about 7% of their sales (don't quote me on that number, better to look it up). He stated several times that the company would not compromise their customers for 2 or 3 cents of additional profits. The company has gone to the Chinese factories and investigated, and didn't find a problem. Those at the factory (he claims) did not know the supposed employees of the factories who were saying there was a problem with formaldehyde on the 60 Minutes video. He also tried to clarify that the test performed by 60 Minutes, the deconstruction test (where I think they grind up the flooring) is not the test specified in the California code. Users don't normally grind up their flooring when they install it, do they? He also said they have purchased and distributed 5000 test kits to purchasers of their laminate flooring.
I think this is just an overzealous 60 Minutes report that skews the truth to make it more sensational. LL may be suing them for damages. I used to like 60 Minutes, but they have gotten pretty untrustworthy since the 70s. In the meantime, I am picking up some cheap LL shares.
I haven't seen any posts from her for a while either. I'm on 6 or 7 MLP boards. She used to provide a wealth of useful information, but probably got tired of all the dumb questions (some of which were mine).
Agree totally. Canada should either build its own pipeline to Vancouver to export it or build its own refineries. They could use the jobs, but their own environmentalists would oppose it. Why should we take the environmental risk? The influx of jobs into the Dakotas is because of increased fracking, is it not? And, by the way, the pipeline already exists, the administration just blocked its expansion. Look it up in Wikipedia.
I bought my first shares in 2004, and as of the last distribution, STON has paid me MORE than my initial investment. I have been very happy with this company. As the boomers age, business will only get better, even with higher rates of cremation.
At this point, though, my tax situation changes and I can't deduct certain items. I'm not clear on the rules, but I was hiring a CPA this year anyway to help with my KMR to KMI forced "merger", which was a fully taxable buyout of an MLP by the non-MLP parent company. I expect I will be learning a lot more about MLP sales and rules soon.
I can wipe my own butt, thank you. I take offense at your implication that I hate America. I have been to five continents and I know we have it good here. But I agree with the progressive REPUBLICAN president Teddy Roosevelt when he kicked the corporate masters that would control this country in the #$%$ and put some regulation on them. Now, some of the same corporations almost killed the economy, and the Obama administration put some controls on them, too. Of course, conservatives don't like this. They believe corporations should be able to do whatever the hell they please to make a profit. Dump sludge into rivers? Go ahead, Ted Cruz is all for it, just slip him some campaign funds. Sell questionable derivative products? No problem, the GOP will take cash or checks. GOP -- the party of lies, run by the Tea Party and their Corporate masters. I believe that AMERICA belongs to the PEOPLE, not CORPORATIONS. Too bad the "conservatives" don't believe in the Constitution they so loudly proclaim to support. So answer this: Cliven Bundy, the rancher who has not paid his Federal grazing fees for 20 years even after being ordered to twice by the US Court system, claims that he does not owe them. Is he right?
I guess if you get all your data from the Heritage Foundation you might conclude your points. Try plotting the inflation-adjusted price of gasoline against the annual profits of Exxon Mobil. You'll see almost an exact correlation. Do you really think the president controls the price of gasoline? How about the increased world-wide demand for oil in the developing world, India, Brazil, China?
"The self-appointed dictator"??? Didn't we elect him -- twice? And why is the Middle East more dangerous now than before? Could it be the power vacuum left by Ronald Reagan (Afghanistan) and George Bush (Iraq) left an opening for groups like ISIL and others?
Some of you have been watching "House of Cards" too much. Don't forget that we and our allies are in a stand-off with Russia over Crimea and the Ukraine. Low oil prices are pushing Russia into a major recession, and hopefully the people will lay the blame where it belongs -- on Putin's megalomania -- and boot him out. Low prices may be the impetus we need to start exporting LNG to Europe on a major scale. That would further boost income to US companies and cut off another Russian finger holding the balls of Europe. I foolishly sold Cheniere Energy Partners units years ago, I should have visualized the LNG ports as exporters, not importers! Don't doubt that there is a huge world demand for oil. India's economy will recover, and China and the rest of Southeast Asia will start booming again. It's just a matter of time.
If you haven't sold, you haven't taken the loss yet. I'm not sure where this company is headed, but don't sell because you think you're wiped out. You still have shares (units), and they can go up quickly. I have ridden some stocks way down, and back up again. I have ridden some down, picked up more, and then more still as it dropped to zero. Washington Mutual comes to mind, I may still get a nickel a share if the lawyers don't eat it up. And it is never a good idea to put all of your money in one place, or risk everything. It sometimes takes nerves of steel. Personally, I don't understand this huge drop in oil. We have some overproduction, and more slated to come on line, but rigs are shutting down already and supply will tighten up. People will be driving more and driving up demand, too. I suspect panic and manipulation mostly in the drop.
Yeah, the interest on Bush's debt is still with us. You should do some real research instead of echoing (or is that ditto-ing) the conservative lies....er, lines.
You said Obama was a Socialist, too. The US is doing better than anywhere else in the world, the stock market is way up (notwithstanding the past week's action), company bottom lines are very healthy, the dollar is strong, employment is up, oil is down and we are not dependent on imported oil......apparently Socialism is a good thing. OR YOU JUST DON"T KNOW WHAT SOCIALISM IS.