tenmiles (99.99)

ITWO - Funny Times Two

November 06, 2009 – Comments (1)

I bought ITWO last December in the aftermath of a failed takeover by JDAS. It’s been a nice investment, up about 170% in less than a year. ITWO picked up a breakup fee and the stock looked quite cheap on most value metrics. Yesterday, JDAS agreed to come back to the table with a sweetened bid – all in, this will cost them about $70 million more than last fall. ITWO can back out of the deal for a $15 million fee if it finds a better offer from SAP, etc. That’s a free put, of course, since they would be using the JDAS original break-up fee to try to locate an even better offer – pretty funny in the ironic sense… Now for pretty funny in the moronic sense. The most recent poster on ITWO, apparently trying to shill for a short-selling newsletter, advised members a week ago to sell ITWO as its Z Score indiciated trouble.   [more]

Dough For Dunkers and other Grand Ideas

August 21, 2009 – Comments (7)

Heralding the “Cash for Clunkers” program as one of the greatest achievements of his term in office, President Obama today announced the formation of the Office of Financial Alliteration.  In announcing this action the President stated:  “Look, its obvious the American people are no dummies – they know a good deal, especially when it’s free.  In Cash for Clunkers we were able to take a quarter million paid off cars and recycle hundreds of thousands of Americans into new debt dependence with larger insurance and car payments.  At the same time, we made sure that no churches or non-profits could hope to benefit from the old cars by drilling a hole through their engines.  I can’t think of a better use of taxpayer dollars – there are truly no losers here”  [more]

Goldman and the ACU in an Ethical Race to the Bottom

July 17, 2009 – Comments (1)

Goldman and the ACU make the Hall of Shame today (I wonder if Goldman uses FedEx or UPS to transports its bags of offshore money?).  Perhaps the ACU will take a position on this for the right fee??

Poor Form:

http://rawstory.com/news/2008/Goldman_Sachs_tax_rate_drops_to_1218.html

Really Poor Taste:

http://news.yahoo.com/s/politico/20090717/pl_politico/25072

Who needs Al Franken when you've got these guys feeding the press such comedy 

So Sari - Why Investors Should Always be Broadly Diversified

January 07, 2009 – Comments (5)

This has already been an interesting week in the financial fraud/criminal ring.  Out in New Mexico, Bill Richardson and some cronies are under investigation for “pay to play” relating to CDR Financial.  That’s Chambers, Dunhill and Rubin (CDR) of which the first two surnames never existed (Rubin does exist).  Could be very interesting when the Fed’s start looking at who has recently benefited from various pension, casino awards, etc. and their ties back to the state – stay tuned on that one.   [more]

Top Five Financial Movies for the Holidays

December 19, 2008 – Comments (4)

Dead Man Caulking – Exploits of a lame duck President trying to patch together enough time for the US Automakers to be somebody else’s problem.    [more]