Archive for March, 2009

• Borders and Pershing Amend Financing Agreement
  ToddSullivan, March 31st, 2009 at 1:29 pm, Comments: 0

  This eliminated any liquidity concerns for at least the next year.
  From Borders
  NN ARBOR, Mich., March 30 /PRNewswire-FirstCall/ — Borders Group, Inc. (NYSE: BGP) and Pershing Square Capital Management, L.P. today announced a one-year extension of the $42.5 million senior secured term loan from April 15, 2009 until April 1, 2010. The loan will be extended [...]

• Target’s Strategy Regarding Ackman: "Na Na, We Can’t Hear You"
  ToddSullivan, March 31st, 2009 at 10:02 am, Comments: 0

  It is clear Bill Ackman has plans for Target. It is also clear in public he has been very complimentary of Target’s (TGT) management. It is also clear that he has avoided a direct confrontation with them for over year, until now. It is also clear that management has no intention of even listening to [...]

• AutoNation’s Mike Jackson on GM, Chrysler News
  ToddSullivan, March 31st, 2009 at 7:45 am, Comments: 0

  AutoNation’s (AN) Jackson is clearly the class of this industry. Here he responds to yesterday’s news on GM (GM) and Chrysler.
  On CNBC:

  On FOX Biz:

  From the dealership side,  Mr. Jackson went on to say that the industry has stabilized now at about 9 million units, and with the emergence of the TALF this month and GM [...]

• Stunning Changes at Sears.com
  ToddSullivan, March 31st, 2009 at 5:17 am, Comments: 0

  Just three weeks ago I was complaining about Sears Holdings (SHLD) websites:
  What is Lampert doing? Well ,first of all he basically bought the CEO to become VP of Sears. Lampert had made no secret in desire to increase Sears web presence. Currently it is a bit unorganized. You have Sears.com, Kmart.com, Sears2go — a mobile [...]

• General Growth’s Debtholders Trying to Avoid Chapter 11
  ToddSullivan, March 31st, 2009 at 4:55 am, Comments: 0

  This is the most backwards thing you’ll ever see. It also gives more confidence of the equity surviving even should they be forced to file.
  From the WSJ:
  But a bankruptcy filing isn’t imminent for the mall giant, according to people familiar with the matter, and General Growth’s (GGP) ability to remain out of bankruptcy shows the [...]

• Tuesday’s Links
  ToddSullivan, March 31st, 2009 at 1:39 am, Comments: 0

  Lead Paint, CDS, Shareholders, Blowing up Wall St.
  - Can we just stop this insanity?
  - How to manipulate stock prices
  - If nothing else comes of this crisis, more shareholder activism would be welcomed
  - This is a sobering article
  Disclosure (“none” means no position):

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• Is Sears Holdings the Beneficiary of Circuit City’s Demise?
  ToddSullivan, March 30th, 2009 at 12:17 pm, Comments: 0

  Some interesting trends have emerged since February. Remember when looking at these numbers that Circuit City began the liquidation process in late January.
  Here is the full month of February 2009 (click to enlarge):
  Week ending 3/7: (click to enlarge)
  Week ending 3/14: (click to enlarge)
  Here is the most recent weeks data from 3/21 (click to enlarge):
  Let’s look [...]

• Cramer on Sears Holdings
  ToddSullivan, March 30th, 2009 at 7:41 am, Comments: 0

  Okay, saw what you want about Jim Cramer but he makes some very good points here about Sears Holdings.
  For those inclined to skip the video, here are the main points:
  1- Sears is levered to housing. When that stabilizes, Sears turns. Read this from 2007 on the subject2- Great brands. More on that here3- Naked [...]

• Mondays Links
  ToddSullivan, March 30th, 2009 at 1:09 am, Comments: 0

  Options, Biden’s Daughter, Coup, Sheila Blair
  - If you are thinking about or so trade options, your daily reading ought to start with Adam
  - So, should we expect the same press coverage Jena Bush got for drinking a gin and tonic or Palin’s daughter? Or is it “hands off” now it is a Democrat’s kid?
  - Frightening [...]

• Sunday Viewing
  ToddSullivan, March 29th, 2009 at 9:51 am, Comments: 0

  I am liking Rep. Ryan more every time he speaks..

  Disclosure (“none” means no position):Visit the ValuePlays Bookstore for Great Investing Books

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