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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (32083)	9/19/2008 10:05:37 AM
From: Jurgis Bekepuris	Read Replies (2) \| Respond to of 78717

It's 10 am and fricking Fidelity still does not show my positions in the account. What the heck!!!! I am so mad. Glad I am not short or anything. F***************************K! Sry for venting, but this is just crazy.

To: Paul Senior who wrote (32083)	3/20/2009 12:23:35 AM
From: Spekulatius	Respond to of 78717

TWX - anyone following the cable (TWC spinoff) story? Looks complex to me so maybe an opportunity. TWX post spinoff looks pretty good (better than before) I think due to debt reduction. Credit Suisse has a good report on the timeline and the expected outcome. Right now it looks like each share of TWX has approx. 2$ value in terms of TWC shares in it until March 27 when those get paid out and TWX will do a reverse 1:3 split. So after that chore TWX should trade at 16-17$/share. Proforma balance sheet says 10B$ in cash and 20B$ in debt left for TWX. Maybe worth a look. I suspect a lot of TWC shares will be dumped after March 27. idea.sec.gov

To: Paul Senior who wrote (32083)	3/25/2009 10:04:41 PM
From: peter michaelson	Read Replies (1) \| Respond to of 78717

Paul, have you looked at VIRC lately? Seems attractive to me. Earnings not hit too badly. Leverage non-existent. Seems like school furniture ought to have decent prospects. Price cut in half. Looks like single digit PE and well under book value, which looks fairly real. Market value of common stock at $2.50 is under $40 million. Real assets over $100 million. Total liabilities $42 million. For 9 months ending September, operating income was $7 million and EPS was $0.31. Trades so thinly though - it's difficult to buy. Peter recent press release: "Four major elements of our business — balance sheet, order rates, operating costs and customer relationships — remain gratifyingly stable despite the recession. In the case of our balance sheet, we ended the year free of bank debt for the first time in over 20 years. Inventories are more than $10,000,000 lower versus last year. Accounts receivable are comparable with last year and accounts payable are down proportionately with inventory levels. Our 20-year relationship with Wells Fargo Bank continues to be strong and although our seasonal revolver will have the same $65,000,000 peak availability in 2009, we don’t expect to need all of it unless some unusual opportunities present themselves. Order rates are down, but on a year-over-year basis they haven’t deteriorated appreciably since mid-summer. Shipments for fiscal 2008 were down approximately 7-8% from 2007. Incoming orders for the full year were down approximately 8-9%. In the fourth quarter, which captures our entire order flow since the economy entered its serious downturn last October, incoming orders were down 10-11%. The backlog itself was up approximately 8-9% at year-end. Operating costs are appropriately matched to current order rates and we do not anticipate the need for layoffs. We had the foresight early last year to begin letting natural attrition reduce the size of our workforce" ....