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leohaas (29.31)

February 2008



Toll CEO: "Stop talking about recession, you're killing my business!"

February 27, 2008 – Comments (19) | RELATED TICKERS: TOL

This is rich: Toll Brothers is reporting their quarter. It is as bad as expected. But guess what is to blame according to Bob Toll: "Ceaseless talk of a recession continues to dampen the mood of consumers in general, whether or not a recession actually occurs. For home buyers, we believe this drumbeat, coupled with concerns over mortgages, the direction of home prices, and foreclosures, has kept pent-up demand on the sidelines."  [more]



Will the Last One Please Turn Off the Lights at GM?

February 12, 2008 – Comments (7) | RELATED TICKERS: GM

Amazing: GM is now offering ALL of its union workforce a buyout! Really, all of them. At a company where most workers are unionized, what will be left? So that's how they are stemming their losses? And the market seems to like it, so maybe this is another opportunity for a short or a put...



More Signs that Retail is Suffering

February 11, 2008 – Comments (2) | RELATED TICKERS: WMT , RTH , XLY

Walmart is finding out that many recipients of gift cards are now spending them on food and consumables, rather than discretionary items. That is not good news for retail in general, and in line with my call that retailers will underperform.  [more]



HOV doing Employee Pricing

February 10, 2008 – Comments (4) | RELATED TICKERS: HOV

Just read in a newspaper ad that K. Hovnanian is offering employee pricing and 4.9% interest here in NJ. Would that bring them anything good, or will it just get them lower comps, leading to lower future prices? I think the latter, so I remain bearish...

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