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Notable Bankruptcies of 2008: Final Tally

Mon, 05 Jan 2009 23:35:00 GMT

In mid-August I predicted that “major” bankruptcies for 2008 would reach 225 (see Bankruptcies Revisited). Through October there had been 172 such bankruptcies, as reported by Bankrupctydata.com. That implied a pace of around 210 bankruptcies, well short of my prediction. At the time however, I suggested that the filing pace was likely to quicken in November and December as the economy deteriorated at a more rapid clip. Sure enough, the final numbers bear out my prediction. According to Bankruptcydata.com, “major” filings reached 231 in 2008. 231 bankruptcies falls far short of the 289 “major” bankruptcies in 2000 and 383 in 2001[More...]

Infrastructure Ideas For ObamaLand, Part 2

Tue, 09 Dec 2008 06:15:00 GMT

Continued from yesterday's article, I submit a few more infrastructure plays for consideration as per President-elect Obama's pledge to enhance, first and foremost, the infrastructure of our country. MTX - Minerals Technologies, Inc. This company adds value to products that utilize minerals in a variety of areas applicable to the infrastructure theme. Trading at $47.09 with a .46% yield. 52-week trading range of $38.-74.00. APOG - Apogee Enterprises, Inc. This company is a great way to play the glass and frame components of infrastructure. It specializes in the "outer skin" of structures using glass as well as numerous other glass-type applications. Trading at $9.02 with a 3.61% yield. 52-week trading range of $5.00-26.00. VBI - Valmont Industries. This company is a dominant producer of concrete and metal poles and towers. It is not only a basic infrastructure play, but a "green" play as well for wind, solar and other[More...]

Energy Investment Opportunities: Why 28 Million Customers Need These Upgrades

Fri, 21 Nov 2008 22:27:00 GMT

Energy Investment Opportunities: Why 28 Million Customers Need These Upgrades by David Fessler, Advisory Panelist, Investment U Friday, November 21, 2008: Issue #890 This week, we’re continuing our investigation of Obama’s “New Energy for America” plan. This comprehensive document details the President-elect’s roadmap for energy independence. (You can read the plan in its entirety here.) Under the Obama administration, I expect there to be many profitable energy investment opportunities under what will likely be a very “green-friendly” four- or possibly eight-year timeframe. Many of the opportunities will arise from his focus on energy independence and corresponding energy infrastructure. Reducing energy[More...]

Bankruptcies Revisited

Thu, 06 Nov 2008 04:34:00 GMT

In mid-August I predicted that bankruptcies for 2008 would reach 225 (see my post Bankruptcy Update). There had been 120 total bankruptcies at the time. The 120 bankruptcies as of August 15th implied a pace of about 195 bankruptcies, well shy of my prediction. But much has changed since mid-August, so let’s revisit that prediction. According to Bankrupctydata.com, there have been 172 bankruptcies through October. If we assume that bankruptcies continue to accumulate at 17 per month for the rest of the year (the monthly average), the implied total for 2008 would be 206. However, we know that the bankruptcy pace has quickened since August. In fact, since mid-August, bankruptcies have been averaging about 21 per month. If we use 21 per month instead[More...]

Dividend Stocks In The News - Oct 13 2008 10:48AM

Mon, 13 Oct 2008 14:42:00 GMT

Last week was characterized by massive sell offs by investors, which fear that the worst is definitely going to happen. Despite the fact that the bailout plan was approved by congress, that didn’t improve investors’ sentiments. The US stock markets had the worst week ever. The 50% dividend cut from Bank of America (BAC) on Monday, which fellow blogger David Templeton reported on didn’t help either. There were rumors floating around that GE might have to cut its dividends as well, which the company[More...]

Analyst Comments: Grey Wolf, Public Storage, ATA, PetSmart, Dow Chemical, Patterson-UTI Energy, Torchmark, Reynolds, Cyberonics, DELL

Fri, 29 Aug 2008 18:29:00 GMT

Grey Wolf, Inc. (GW) has agreed to be acquired by Precision Drilling Trust (PDS) in a cash and stock valued at approximately $2 billion. Grey Wolf shareholders will own approximately 25% of the combined entity, to be called Precision Drilling. In particular, the GWPDS merger creates a North American land drilling powerhouse with 371 drilling rigs. In addition to getting the significant cash payout, GW shareholders benefit from Precision?s high-tech systems and technology. While we expect GW shares to essentially track PDS from here onwards, we are keeping our Buy recommendation and price objective unchanged. The company remains well positioned to capitalize on the improving operating environment given its large idle capacity, which[More...]

Periodicals Wrap-Up for Friday, June 27th

Fri, 27 Jun 2008 14:27:00 GMT

The Wall Street Journal reported that is is not yet certain whether Merrill Lynch (MER) will need to raise money. If it does, selling common stock could be expensive due to a 12-month protection the bank offered the investors that bought $12B in common an[More...]

Noteworthy Bankruptcies

Wed, 18 Jun 2008 04:41:08 GMT

Several months ago I promised to keep tabs on notable bankruptcies of 2008 (see More Failure for Fodder). Well, we’re nearly half-way through the calendar year, so I thought I’d continue to make good on that promise.[More...]

Piper Jaffray Raises ATA Target to $24 from $17

Fri, 23 May 2008 13:54:06 GMT

Piper Jaffray raises ATA (NASDAQ:ATAI) tgt to $24 from $17 saying they understand China's...[More...]

Another Airline Bankrupt

Fri, 11 Apr 2008 16:12:41 GMT

I am debating whether I need to start a new blog keyword "bankruptcies" for the coming era....[More...]

Airlines' cost index plunges

Wed, 04 Nov 2009 14:18:00 GMT

Nov. 4--The composite cost index for U.S. airlines dropped 29 percent in the second quarter, easily outpacing the 0.9 percent decline in the U.S Consumer Price Index, executives at the Air Transport Association said Tuesday.
ATA, the trade group representing the major U.S. airlines, said the three largest components of the composite cost index were labor, fuel and transport-related expense.
The average price paid for fuel fell 36 percent from record levels one year ago, ATA officials said, while the average cost of employing a full-time equivalent worker -- wages, benefits and payroll taxes -- rose 6 percent, to $79,657.

[More...]

Hotel Rates Decline to As Low As $23

Wed, 26 Aug 2009 06:03:00 GMT

Aug. 26--TAMPA -- Hotel rates and airfares continue to plunge, with hotels.com listing a dozen hotels in Orlando offering rates between $23.40 and $29.99 for Saturday night and 18 more with prices from $31.99 to $48.39.
In Tampa, Hotwire.com reported that August rates were 21 percent lower than a year ago, with four-star rated hotel prices as low as $64.
The most recent American Express Business Travel Monitor, released Tuesday, shows the average domestic airfare for the second quarter ended June 30 was $212, the lowest second quarter average since 2005 when it was $218.

[More...]

Texas Businesses Worried, Uncertain About Climate Change Bill

Sat, 27 Jun 2009 05:48:00 GMT

Jun. 27--While many Texans see the need to address global warming, the potential impact of climate-change legislation narrowly passed by the U.S. House of Representatives on Friday is stirring concern among businesses and industry groups in Texas.
John Fainter, president of the Texas Association of Electric Companies, said his organization is worried about the Waxman-Markey bill's effect on power generators and electricity consumers.
"Obviously, the impact is going to be different for different regions," Fainter said.

[More...]

Truck Shipments Decline During Stagnant Economy

Thu, 28 May 2009 16:52:00 GMT

May 28--Truck shipments usually serve as an indicator of the overall economy by previewing consumer expenditures, but a recent sharp decline may not be as onerous for the national picture as it might appear.
But inventories remain high with the poor economy so business efforts to decrease their stockpiles of goods along with the recession is taking a toll on truck freight, ATA chief economist and vice president Bob Costello said.
"I don't believe trucking will provide the big lead time to substantial economic growth unless the massive inventory correction ends soon," Costello said in an e-mail.

[More...]

AME Info, Abu Dhabi, United Arab Emirates, Technology Briefs - Mar 31 2009 1:55PM

Tue, 31 Mar 2009 17:50:00 GMT

Mar. 31--GOOGLE LAUNCHES VENTURE CAPITAL FUND: Google has launched a venture capital arm that aims to invest in a wide range of technology-related industries.
The group, called Google Ventures, is expected to invest up to $100m over the next 12 months.
Google Ventures will invest in consumer Internet startups, as well as companies doing software, hardware, clean energy technologies, biotechnology and health care.

[More...]

Gadgets: Add Ports, Warm Your Hands and Go Green

Wed, 04 Feb 2009 19:53:00 GMT

Many of today's laptops have ExpressCard slots built into the side.
Most are used for wireless Internet cards or to download photos, but users can get even more out of the slots with an ExpressCard adapter.
The newer ExpressCard slots require less power than the older and bigger PC Card slots and have a data transfer rate almost twice as fast as the older units.

[More...]

Cuts Hit Trucking, Oil Services: Arrow Lets 32 Employees Go

Wed, 04 Feb 2009 10:52:00 GMT

Feb. 4--In another measure of the slowing economy, Arrow Trucking Co., the Tulsa-based flatbed carrier, has laid off 32 people, or 2 percent of its work force, company executives said Tuesday.
No drivers lost their jobs, he said.
"It's a tough deal, but it was something we had to do to make sure we are solid going forward," Pielsticker said.

[More...]

A Free Pillow? Perish the Thought

Sun, 04 Jan 2009 09:50:00 GMT

Jan. 4--Wow, the year flew faster than a jetliner at 40,000 feet.
For travelers, 2008 was a year when it was best to keep your seat belt buckled for most of the ride.
Suddenly, there was this "a la carte" pricing where the only thing included in your ticket price was the seat.

[More...]

ATS to host first quarter conference call Wednesday August 12, 2009 at 10:00 am eastern

Wed, 29 Jul 2009 15:44:00 GMT

CAMBRIDGE, ON, July 29, 2009 /CNW/ - ATS Automation Tooling Systems Inc. today announced it will report its first quarter results before the market opens on Wednesday, August 12, 2009.[More...]

ATS Automation announces workforce reductions

Thu, 19 Mar 2009 13:40:00 GMT

TSX: ATA CAMBRIDGE, ON, March 19, 2009 /CNW/ - ATS Automation Tooling Systems Inc. ("ATS") today announced it is reducing its Cambridge workforce by approximately 80 full-time employees and its Photowatt France workforce by approximately 160 temporary workers in order to bring the workforce inline with customer requirements.[More...]

ATS reports third quarter fiscal 2009 results

Wed, 11 Feb 2009 09:55:00 GMT

TSX: ATA CAMBRIDGE, ON, Feb. 11, 2009 /CNW/ - ATS Automation Tooling Systems Inc. today announced its financial results for the three and nine months ended December 31, 2008.[More...]

ATS to host third quarter conference call Wednesday February 11, 2009 at 10:00 AM Eastern

Wed, 28 Jan 2009 19:47:00 GMT

TSX: ATA CAMBRIDGE, ON, Jan. 28, 2009 /CNW/ - ATS Automation Tooling Systems Inc. today announced it will report its third quarter results before market opens on Wednesday, February 11, 2009.[More...]

ATS Automation completes $50 million bought deal of common shares

Wed, 14 Jan 2009 12:47:00 GMT

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./[More...]

ATS Automation finalizes sale of Precision Components Group

Wed, 07 Jan 2009 10:55:00 GMT

TSX: ATA CAMBRIDGE, ON, Jan. 7, 2009 /CNW/ - ATS Automation Tooling Systems Inc. ("ATS") has finalized the previously announced sale of the key operating assets and liabilities of Precision Components Group ("PCG").[More...]

ATS announces automation systems order

Tue, 25 Nov 2008 11:25:00 GMT

TSX: ATA CAMBRIDGE, ON, Nov. 25 /CNW/ - ATS Automation Tooling Systems Inc. today announced that it has been selected for an automation systems order by a new customer in the energy sector.[More...]

ATS reports second quarter fiscal 2009 results

Wed, 12 Nov 2008 09:55:00 GMT

TSX: ATA CAMBRIDGE, ON, Nov. 12 /CNW/ - ATS Automation Tooling Systems Inc. today reported its financial results for the three and six months ended September 30, 2008 as well as the Company's next steps in restructuring the Automation Systems Group ("ASG").[More...]

ATS to host second quarter conference call Wednesday, November 12, 2008 at 10:00 am eastern

Fri, 31 Oct 2008 19:44:00 GMT

TSX: ATA CAMBRIDGE, ON, Oct. 31 /CNW/ - ATS Automation Tooling Systems Inc. today announced it will report its second quarter results before market open on Wednesday, November 12, 2008.[More...]

ATS Automation signs definitive agreement to sell Precision Components Group

Fri, 12 Sep 2008 09:55:00 GMT

TSX: ATA CAMBRIDGE, ON, Sept. 12 /CNW/ - ATS Automation Tooling Systems Inc. today announced it has finalized a definitive agreement to sell the key operating assets and liabilities of Precision Components Group ("PCG") to a group led by current PCG management. The Company expects to complete the sale in the third quarter of this fiscal year, upon finalization of certain regulatory and legal matters.[More...]