no Nemo?
no way
But very low volume today...
why no Nemo?
Hello?
stop talking to yourself
Earnings -- or lack of them -- are coming.
Some companies may say that things are so murky that they can no longer offer guidance.
It's really interesting that the bank stress test details are to be delayed until after earnings!
AA lost -.61/shr vs estimate -.57/shr
why no Nemo?
Jeez, he's in the bathroom, ok!
'scuse, that loss estimate from Yahoo. here is the Marketwatch;
Analysts polled by FactSet Research were looking for a loss, on average, of 51 cents a share. A Reuters Estimates survey came up with a target of a 54-cent loss. Sales fell to $4.1 billion from $5.7 billion a year ago. Wall Street had forecast sales of $4.68 billion.
http://www.marketwatch.com/news/story/alcoa-swings-loss-aluminum-prices/...
Hope the market is up tomorrow and thursday. I have a job interview.
Alcoa loss of $0.59 per share
aluminum foil hats could help them all
So when it goes up, it's a "casino", and when it goes down, it's "volatility"?
Just want to get my terminology straight.
- Nemo
Did AA beat or miss?
Crispy & Cole...saving the world one comment at a time!
I always hate volatility at the casino.
Nostrovia,
AA beat top missed bottom
green shoots meet the lawnmower
Head, shoulders knees and toes knees and toes, Head, shoulders knees and toes knees and toes, Eyes and ears and mouth and nose, Head, shoulders knees and toes knees and toes!
Treasury has created a dilemma for itself with these stress tests. It announced them to reassure the market that there would be transparency. However, what happens these stress tests makes it transparent to the market that citi and BoA are insolvent. Probably just the opposite of being reassured. Thus the need now opaqueness.
Gonna be a bad month. Time to pay for March.
AA doesn't bode well for a close who's been there as an engineer since he started working.
And the guy is now in his early 40s, so he's prime for layoff...
homedad43
ummm...wow some volume on front month QQQQ puts...140,951 April 30 puts with 141,817 OI...
wonder how many of those stick
Automatic Earth says:
WHAT IS THE MAXIMUM PRICE OF A BOND? You can ask this question to newly minted MBAs to distinguish the merely smart from the truly clever. The "smart" answer, approved in all the best business schools, is "the sum of the future cash flows." Occasionally someone will provide something more interesting. My all-time favorite answer came from a fellow who became a very successful trader. The maximum price of a bond? "Whatever the stupidest investor is willing to pay for it." This definition came to mind while reading the term sheets for the latest manifestation of Treasury's plans to buy toxic debt from the banks. The American taxpayer is once again being cast in the role of "stupidest investor."
Crispy,
Sorry, I assumed someone else would have answered already. AA missed by $0.02.
http://www.briefing.com/GeneralContent/Active/Investor/TickerSearch/Tick...
.............................
Base hits win ballgames.
If you don't take your profits, someone else will.
Earnings are going to be grim. So I would expect more 'volatility'.
LOL. alcoa up AH
WASHINGTON (AP) - Facing serious budget shortfalls, states could rake in an additional $14 billion if they tweak their lottery programs, according to an industry report released Tuesday.
The study, which analyzed 20 state lottery programs, said sales could be boosted significantly if the lotteries tried to engage a new generation of players as well as increase the size of prize payouts.
The most frequent lottery players are 35 years and older, said the report by the California-based consulting firm Frost and Sullivan. Women play less often than men, and 18-to-24-year-olds have the lowest participation, it said.
Georgia, which was highlighted as a state with a successful lottery program, increased its scratch games and the prize payouts, said Margaret DeFrancisco, president and CEO of the Georgia Lottery Corporation. With that revenue, she said, the lottery has helped fund education scholarship and pre-K programs that have benefited 2 million families in Georgia.
DeFrancisco also said the lottery "tried to be where people are," so it placed lottery kiosks at the Hartsfield-Jackson Atlanta International Airport a few years ago. "It's our number one retailer now," she added.
Forty-three states and the District of Columbia have lottery programs, according to the researchers. Of those, Massachusetts has the highest prize payout, with more than 70 percent of sales going to prize money. The state had the highest per capita sales and profits in 2007.
The study suggested that states do more advertising and marketing on the Internet, especially as a way to reach a younger generation of players. And while online gambling is illegal in the United States, the report said lotteries might benefit from discussions to legalize Internet gaming.
That second chart is the real tell. We bought into the tech rally; we bought into the credit rally... but we had money and trust then. We don't have those now so there will not be a third mountain. Two to a customer.
"Treasury has created a dilemma for itself with these stress tests. It announced them to reassure the market that there would be transparency. However, what happens these stress tests makes it transparent to the market that citi and BoA are insolvent. Probably just the opposite of being reassured. Thus the need now opaqueness."
That is a secret that is too valuable to keep for long.
Think you've got trouble?
"Moldovan President Vladimir Voronin on April 7 said authorities are "extremely concerned" over disorder in the capital of Chisinau and called on Western powers to help resolve the situation, Reuters reported, citing Interfax news agency. Moldova also has recalled its ambassador to Romania for consultations on the protests."
Pavel Chichikov
On a positive note, Salesforce.com (CRM) was up today, thus maintaining its PE ratio at about 106. Woohoo! That's because there is no way that CapEx spending could get hurt in this environment...
Or maybe it's just because some clueless analyst (or shill) upped his price target to about 30% above today's price...
Ah, things still haven't really changed!
"More volatility…"
Why is it that markets are only "volatile" when they decline?
FFIV and JNPR preannounced misses on top line, but through job cuts and cost reductions met their guidance on the bottom line--stocks are up in AH.
Previously posted but bears repeating...tie in U-6 rates and record consumer debt defaults...
Consumer borrowing dips more than expected in Feb.
Fed: consumer borrowing plunged by $7.5 billion in February on record drop in credit card use
Christopher S. Rugaber, AP Economics Writer
Tuesday April 7, 2009, 3:22 pm EDT
WASHINGTON (AP) -- Consumer borrowing plunged in February by more than analysts expected as Americans cut back their use of credit cards by a record amount.
The Federal Reserve said Tuesday that consumer borrowing dropped at an annual rate of $7.48 billion in February, or 3.5 percent, from January. Wall Street economists expected borrowing to slide by only $1 billion, according to a survey by Thomson Reuters.
The decline was led by a record drop in borrowing on credit and charge cards, which fell at an annual rate of $7.8 billion, or 9.7 percent. That is the sharpest drop in dollar terms since federal records began in 1968, and the steepest percentage fall since 1978.
d'oh the link to that story
http://finance.yahoo.com/news/Consumer-borrowing-dips-more-apf-14873024....
"The study, which analyzed 20 state lottery programs, said sales could be boosted significantly if the lotteries tried to engage a new generation of players as well as increase the size of prize payouts."
Great, more stupid tax. It's not bad enough that the "house" rakes 50%, but they want to cull the heard.
Here is a treat instead. Tax Level III Derivative transactions at the same rate. 50ish trillion out there to get a cut of. Take it to court under, any rights not granted to the Fed are reserved for the states. The Gov will pull interstate commerce, but it is either gambling or insurance, and that ain't the Fed's game.
We might need another G20 meeting with pointless blather to keep the market moving up.
LOL. alcoa up AH
According to Zero Hedge, CNBC reported that AA beat estimates. According to anyone who was actually paying attention, they missed. Now that is truly funny.
"Two to a customer."
Plus one long deep valley for "free."
Treasury has created a dilemma for itself with these stress tests. It announced them to reassure the market that there would be transparency. However, what happens these stress tests makes it transparent to the market that citi and BoA are insolvent. Probably just the opposite of being reassured. Thus the need now opaqueness. -Syvanen
Yes, and ...
Is there anybody on board that knows how to fly a plane?...
http://www.youtube.com/watch?v=vosq85B_lMk
Casino? I thought we were at the dog track.
Hey, they can tax lotteries, booze and tobacco all they want, for all I care.
So where is AA on their 12-step program?
- Nemo
Bed Bath and Beyond (+12% AH)
Net income fell to $141.4 million, or 55 cents a share, in the three months ended Feb. 28 from $172.9 million, or 66 cents, a year earlier, the Union-based company said today in a statement distributed by PR Newswire.
Basel,
However BBBY beat estimates by $0.11. So +12% makes sense.
http://www.briefing.com/GeneralContent/Investor/Active/ArticlePopup/Page...
.............................
Base hits win ballgames.
If you don't take your profits, someone else will.
BBBY blows the doors off...depressionistas beware....
Crispy & Cole...saving the world one comment at a time!
"Hey, they can tax lotteries, booze and tobacco all they want, for all I care."
"It has been my experience that folks who have no vices have very few virtues."
Yeah, well, fist they came for the gamblers and I did not speak out as I do not gamble....
.
According to Zero Hedge, CNBC reported that AA beat estimates. According to anyone who was actually paying attention, they missed. Now that is truly funny.
.
Any old economy company that reports and doesn't have the word 'bankruptcy' or 'bailout' associated with it automatically qualifies as a 'beats estimates'... just sayin'
.
WASHINGTON (AP) - Facing serious budget shortfalls, states could rake in an additional $14 billion if they tweak their lottery programs, according to an industry report released Tuesday.
Is that what they're calling pension plans these days?
popeye: i maybe nutz, but i'm actually net long for *this* quarter. A lot of companies went into depression survival mode, and many will surprisingly beat. With the retailers, many people are too focused on the consumer side, not realizing that most of the retailers that went BK were involved in ridiculously leveraged PE schemes.
"We don't have those now so there will not be a third mountain."
The Treasury is printing it by the truckload.
"Why is it that markets are only "volatile" when they decline? "
One word: PANIC
"The Treasury is printing it by the truckload."
Inflation and DD rates are GREAT for earnings...
DL wrote:
"Why is it that markets are only "volatile" when they decline?"
One possible explanation: It sure seems like markets can fall faster then they rise.
Probably an illusion, but...
JNPR blows the doors off too....
Crispy & Cole...saving the world one comment at a time!
BedBath surviving thanks to demise of competition?
AA up thanks partly to CNBS error and perhaps more due to positive outlook provided in press release. Recent measures have provided cash transfusions to prevent cash-bleed BK scenario for the next year or so, it appears....
Surge in stock appears to be abating after-hours. Anyone following the conference call?
Remember, volume was very low today. We've undone the huge surge from last Thursday now, but on the daily chart the higher--highs/higher-lows rally is still intact.
Fundamentals still frightening, but the game is now to figure out where the bottom will be, not to continue predicting disaster. Where will the economy hold together?
"With the retailers, many people are too focused on the consumer side, not realizing that most of the retailers that went BK were involved in ridiculously leveraged PE schemes."
Can someone explain the Paintball meme? Just a quick clue please.
I get the empty CRE space but I sense something else?
Great post!! I look forward to reading more from you. I have added a link to your blog in the blogroll of my Fiancnail Advice website
Anyone notice the difficulty he had with the word Financial?
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
sm_landlord (member) wrote on Tue, 04/07/2009 - 4:45pm.
DL wrote:
"Why is it that markets are only "volatile" when they decline?"
One possible explanation: It sure seems like markets can fall faster then they rise.
Probably an illusion, but...
Of course! I take NO infusion of cash to fall, but someone's go to pony up to make it rise.
Although I don't know anyone who admits to eating there, Ruby Tuesday (+13% AH) also beat:
Excluding 17 cents in charges related to restaurant closures and impairment expenses, the company reported an adjusted profit of 26 cents per share, exceeding analysts' average estimates of 11 cents per share, according to Reuters Estimates
Credit-card debt shrinks at fastest pace in 32 years
Looks like the consumer is digging in a bit.
"Excluding 17 cents in charges related to restaurant closures and impairment expenses,:"
Because, you know, in this environment, those things are unlikely to repeat.
Can't wait to dig a little into these earnings numbers and see just how much is "one off" expenses.
Nostrovia,
Although I don't know anyone who admits to eating there, Ruby Tuesday (+13% AH) also beat:
Thats because you are not from West VA where this is considered 3 star dining. 4 Star would be Dead (Red) Lobster.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Although I don't know anyone who admits to eating there, Ruby Tuesday (+13% AH) also beat:
Thats because you are not from West VA where this is considered 3 star dining. 4 Star would be Dead (Red) Lobster.
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Ruby Tuesday - interesting way of dicing the crappy performance. Stock is still down 50% from its 52-week high, although up 300% from its low.
Didn't Linen N Things (or whatever it is called) go t*ts up recently? I mean, liquidate?
So given that a large competitor is now gone, wouldn't it make sense that BBBY would get some of those customers? Same thing with Best Buy and Circuit City.
I think analysts aren't doing a very good job factoring in loss of competition into their estimates.
Good link, idoc.
Ugly.
If the top line increases but the bottom line falls, isn't that a bit unfortunate for margins?
Oops, I inadvertently posted this on a dead thread. Reposting here with apologies for the spam:
There's a quite unintentionally comic piece now up on DJ on a paper by three business professors analyzing last fall's short selling ban. Among others, it features this gem:
By preventing short sellers from trading, the authors argued the SEC created a bias toward higher prices, unintentionally leading to investors buying shares at prices above fundamental value.
"Unintentionally." Right. "Creating a bias toward higher prices" had nothing to do with the intended purpose of the ban.
If I ever find a linked copy I'll post it.
I get dragged into Red Lobster about twice a year by the wife. Aside from it getting worse every time, the amount of the portions has shrunk dramatically.
"One possible explanation: It sure seems like markets can fall faster then they rise.
Probably an illusion, but..."
I don't think it's an illusion at all; fear is a stronger emotion than is greed and greed is just a little more insidious.
.............................
Base hits win ballgames.
If you don't take your profits, someone else will.
So given that a large competitor is now gone, wouldn't it make sense that BBBY would get some of those customers? Same thing with Best Buy and Circuit City.
WALMART - COSTCO
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Ruby Tuesday PR:
Ruby Tuesday reported revenue of $317.5 million for its third fiscal quarter ended March 3, 2009, versus $351.2 million for the same period a year ago, with the decrease reflecting a 6.8% decline in same-restaurant sales and 50 fewer restaurants in operation than in the prior year. The Company also reported diluted earnings per share of $0.09 on net income of $4.8 million for the Company's third quarter. This compares to diluted earnings per share of $0.23 on net income of $11.7 million for the third quarter of the prior year. As part of the restructuring announced in December 2008, third quarter 2009 earnings include Closures and impairment expenses of $14.6 million pre-tax, which reduced diluted earnings per share by $0.17. During the quarter, the Company was successful in moderating its sales decline and controlling costs at both the restaurant and corporate levels. Operating results also benefited from the previously announced restaurant closings.
Even discarding the B.S. on the closure and impairment expenses, the diluted $0.09 EPS, times 4 quarters, times a P/E of 10, justifies the current stock price. PR also expressing optimisim about downward trend becoming less steep each month this quarter, and not in violation of debt covenants...
C&C wrote: "JNPR blows the doors off too.... "
they did? they just guided revenue lower, and announced they will hit estimates, not beat.
not sure why the stock is up AH, maybe
http://www.marketwatch.com/News/Story/Story.aspx?guid={55463A2C-9832-4067-8047-CCDEDE56FF6B}&siteid=yhoof2
"So given that a large competitor is now gone, wouldn't it make sense that BBBY would get some of those customers? Same thing with Best Buy and Circuit City."
You can get the stuff on EBay at 1/2 the price from FB's these days.
Just sayin...
Nostrovia,
Earnings are up ex-costs =)
Just so I'm crystal clear, the FASB updates were limited to financial companies right?
Juniper Networks Inc. said it now expects first quarter earnings of $0.16 to $0.17 per share on revenue of $760.0 million to $765.0 million. The company's previous guidance was earnings of $0.15 to $0.17 per share on revenue of approximately $800.0 million to $830.0 million and the current consensus earnings estimate is $0.17 per share on revenue of $797.6 million for the quarter ending March 31, 2009.
Actually the only people I know who pay retail is my wife and daughter...
http://afterthecrash.net - Home of the Doomer Story Portal and Other Stuff
Actually the only person I know who pays retail is my wife and daughter...
You're from Austria, I take it?
Manhattan Office Rents Plunging: http://www.bloomberg.com/apps/news?pid=20601087&sid=aA_to5zGyw2o&
glod miners keep issuing new shares taking advantage of available funding; RGLD yesterday, CEF today. frustrating for me as a current shareholder but OTOH they are some of the few that can get funding.
sm_landlord,
From your link:
Revolving credit (mostly credit cards) fell by $7.8 billion, or 9.7% annualized, in February to $955.8 billion. Balances can decline if consumers pay more than they charge, or if lenders write off bad debts as uncollectible.
Peak credit card debt! lol
Anonymous, re: Ruby Tuesday
Revenue down 10%, bye bye margin
In any event, I've had people who trust my financial outlook remark to me that shops/restaurant traffic seems to be the same as always. My response is that the effects will come in due time; it's not like restaurant revenues were down 50% for one year and then rebounded to previous levels for the next 4 straight quarters
I can be ready and waiting for the event to come, without needing to pick the exact week bankruptcy filings will be made
The bit about office rents reminds me about those charts showing price/rent ratios for housing... which are typically used to buttress claims about how home prices can't fall much further before stabilizing... where the person making the argument completely overlooks the fact that rents can and will fall along with prices when there's oversupply.
This volatility drives retirees nuts. My retiree neighbors used to complain about medical problems, now it's the markets too.
"the amount of the portions has shrunk dramatically. "
But that's a good thing-
We just put together a bid on a public high school library in LA.
The engineers estimate was $30MM
Our bid was $21MM+
We're currently not close to low and they are still reading the bids.
It will probably go for $200 / sqft. Complete new building / build out with high end finishes.
Would have been $325 / sqft easily 2 years ago.
Time's they are a changin'........
..................................
Credit card debt can also decline when issuers cut limits and refuse to issue additional credit. An unintended consequence of Universal Default?
http://www.oftwominds.com/blog.html
Since the Plutocracy and the underclass both need the state's power (to exclude the Elites from service or taxes) and revenues (to fund "rights to entitlements"), they will fight ferociously and ceaselessly for their share of the dwindling national income. The middle class, distracted by the pressures to remain productive in a declining economy, have neither the time, will, capital or organization to match the upper and lower classes' desperate squeezing.
As a result, the middle class loses the political battle and either opts out (what I call "Voluntary Poverty" ) or simply collapses into penury/poverty, joining the underclass.
Insane, these stocks go up after beating estimates. Fundamentals (P/E ratio) are what matters. Unless we are back to 1999/2000, in which case they don't.
My response is that the effects will come in due time
Same thing with Juniper's announcement. Same earnings on less revenue == layoffs. Positive feedback, but that's sooooo next quarter
I remember when Abby Joseph Congirl was calling for 1450 in the S & P last year. She was my sell signal barometer every time she opened her mouth.
--------------------------------------------------------------------------
Learn the 7TH Amendment maggot!
Red Beckman - Fully Informed Jury
http://video.google.com/videoplay?docid=7385583011526915030&hl=en
Now, How many people lost their jobs in 08 and 09? Do I believe any of this crap being put out today, most of it's just wet BS.
"Anyone notice the difficulty he had with the word Financial? "
No. I bailed out after the first sentence or two.
Some day we'll barbecue trolls and carpet bombers.
"Credit card debt can also decline when issuers cut limits and refuse to issue additional credit."
The debt can stop growing, but that won't make it decline. Declines require either the consumer paying off the debt or the CC Company writing off the debt.
Actually the only person I know who pays retail is my wife and daughter...
You're from Austria, I take it?
---------------------------------------
You mean alabama?
nades,
The city of Edmonton had a report a couple weeks back that road construction costs had fallen 30% from the time the estimate was made last fall until the price was paid this winter.
Finally we'll be able to update infrastructure without resorting to unbearable debts. Investors are going to learn to take low yield fixed income investments, and like it. It's amazing the resources you can free up by not building unwanted subdivisions in the middle of a desert just as one example
Low bid is currently $17MM
15+ general contractors bids so far.
Its going to be very very interesting in commercial construction for the next few years....
crispyandcole (member) wrote on Tue, 04/07/2009 - 4:41pm.
BBBY blows the doors off...depressionistas beware....
Crispy, please tell me you're being dryly humorous?
Investors are going to learn to take low yield fixed income investments, and like it. ~EHP
I agree. I think infrastructure REITs are going to be alot bigger in the US going forward....
We'll see....
Tax refunds now completely spent, Tax deadline filing payments to extract future discretionary spending from the system. Look for consumer spending to take another nose dive.
--------------------------------------------------------------------------
Learn the 7TH Amendment maggot!
Red Beckman - Fully Informed Jury
http://video.google.com/videoplay?docid=7385583011526915030&hl=en
MaryAnn
About 14 mn fewer jobs are around (incl part-time, but not necessarily 1022 contractors). Of course the BLS would have you believe as one example, in January '09 741,000 jobs were lost but 731,000 left the labor force, resulting only in 10k more unemployed
There has not been so few jobs per capita since the boomers joined the work force in the 80s
http://research.stlouisfed.org/fred2/series/EMRATIO?cid=12
MOS getting kicked to the curb AH, off 5%+ -- missed badly and guided down big.
Mojo's now limp.
I lost a bid to reside a county building today. our bid was 18,500. winning bid was 17800. It was small potatoes but it at least it was something. I thought we had chopped it to the bone. 2 years ago it would have gone for 27000. I gotta find a new line of work.
What does it mean that the requests for TALF funding are getting so small? 64% decline to $1.7B. http://www.marketwatch.com/news/story/TALF-loan-requests-sink-64/story.aspx?guid={0FE67DE7-0F81-4F38-BF7C-267B373E54D3}&dist=hplatest
Is this a sign that investors are holding out for the PPIP program? Or that the underlying assets are still deteriorating? Something else?
POT following MOS down. so much for that POT takeover rumor...
Just a reminder - cuz it can affect trades:
April 8 7:34 pm Passover begins at sundown Jewish *
April 9 Holy Thursday Orthodox Christian
April 9 & 10 Passover (first two days) Jewish *
April 10 Good Friday Orthodox Christian
April 11 Holy Saturday Orthodox Christian
April 12 Easter Orthodox Christian
April 13 Ram Navami Hindu
April 14 7:37 pm Passover last two days begins at sundown Jewish *
April 15 & 16 Passover final 2 days Jewish *
* = work is forbidden
...........................................
.............................
Base hits win ballgames.
If you don't take your profits, someone else will.
Fed TALF Loan Requests Drop by 64% to $1.7 Billion in 2nd Round
By Scott Lanman and Sarah Mulholland
April 7 (Bloomberg) -- The Federal Reserve's requests for loans to buy asset-backed securities fell 64 percent from last month as investors balked at visa limits and possible political efforts to tax earnings.
Investors sought $1.71 billion in loans from the Term Asset-Backed Securities Loan Facility to purchase securities backed by auto and credit-card loans, the New York Fed bank said today on its Web site. The Fed provided $4.7 billion in loans last month to purchase securities backed by auto and credit-card loans in the TALF's first monthly round.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNKHvFY8WJKU
nades,
$200/sf sounds about right for L.A.(that high priced area to the Southwest). I gather the school district already owns the land.
BTW, I'm glad to hear someone thinks a high school library still matters.
the AH pop for AA is all gone - now down ~3% from the close - must be some mustard seeds in the conference call!
Total of 26 Bidders. seventeen million took it home!
sportsfan - yes they owned the land. this is just a high end library with nice finishes. schools are the only entity building right now. they are getting steals and yep still building libraries! 
I think that's wrong. "eastern orthodox" easter is april 19, not april 12.
western (roman catholic,protestant) is april 12
Backing up EHP on EMRATIO,
The Year Over Year rate of change has reached a new record low, chart posted on my blog...while the level itself has dropped to the mid-80's level, the rate at which it has done so on an annual basis outdoes all other post-WWII recessions (as far back as the numbers go).
[* = work is forbidden]
I know a jewish guy brags about trades on his crackberry from temple and he said others do. They set limits in the AM. I also know a mormon who won't drink ... if there;s another mormon present. Plenty of cheating.
"Something else?"
Camel nose? TARP folks are bitter.
@EHP on Ruby Tuesday: "Revenue down 10%, bye bye margin"
Depends on how many restaurants were closed, and what the revenues are at same-store restaurants. The latter were off 6.8% YOY for company-owned and 5.1% for domestic franchise.
Not saying you're wrong, and clearly the chain can go BK due to debt overhang and continued consumer retrenchment, etc. But the restaurant industry as a whole will survive. The restaurants that can survive a few more quarters will get to pick up customers from those that go BK and liquidate, just as Best Buy and Bed Bath are.
From the PR:
Third quarter fiscal 2009 same-restaurant sales:
December
January
February
Third Quarter
Company-Owned -9.0% -5.9% -5.1% -6.8%
Domestic Franchise -9.9% -1.1% -2.8% -5.1%
"Plenty of cheating. "
Yeah, and GWB joined the Guard to honor his non-violent Christian faith.
debtinator,
Here, you argue with them:
http://www.dso.ufl.edu/multicultural/documents/calendar.pdf
.............................
Base hits win ballgames.
If you don't take your profits, someone else will.
"Unless we are back to 1999/2000, in which case they don't. "
I think, not going BK, is what the market is looking for this Q.
Vermont just overrode their governor's veto on same-sex marriage. Time for a big dildo-waving parade as we were informed this afternoon is the wont of the celebrant homosexual, as opposed to the staid ritual rebellion of the tea-totaller.
nades, actually we're working on a building for SSA right now, but you're right that government is the only one building today.
New Thread
.............................
Base hits win ballgames.
If you don't take your profits, someone else will.
Gav - CEOS dot like the poliical interference!
Barley
Las Vegas mayor said NHL andd NBA were "neck and neck" to bring the first major pro sports franchise to the city
Arena already under construction. Ready for next season.
http://www.sportsbusinessdaily.com/article/114417
http://www.lasvegassun.com/blogs/now-and-then/2008/sep/15/report-harrahs...
"The Year Over Year rate of change has reached a new record low"
Time to repeal McCain-Feingold to give CEO/CFO a little play on the earnings?
Las Vegas mayor said NHL andd NBA were "neck and neck" to bring the first major pro sports franchise to the city.
That is going to be one tough stadium/arena to fill once Meade hits rationing.
Timberwolves, or who cares?
Anonymous,
I didn't mean to speak specifically for Ruby Tuesday beyond the 10% drop in revenues. Was speaking industry-wide, it's overbuilt. Need to get costs in line, bankruptcy is the dominant way to get rents/leases/loans down to where new cash flow levels can support them
@Cinco-X regarding credit-card debt declining, my hypothesis of issuer limits being part of the cause: "The debt can stop growing, but that won't make it decline. Declines require either the consumer paying off the debt or the CC Company writing off the debt."
That's true at the individual level but at the population level it's not so true. There are always some people seeking to pay down debt and some seeking to increase it. When those who seek to pay down are able to do so, but those who seek to increase are unable to do so, then at the population level the total must decline even though at the individual level no one is forced to decline.
Just apply the same logic to the net flow of vehicles on a highway where those going east are free to move and those going west suddenly face a series of flagmen waving orange flags and slow signs...
Blackhalo
very cool website about Lake Mead water levels
http://www.arachnoid.com/NaturalResources/
Anonymous (the one presenting a case for Ruby Tuesday stock price),
I know you're just playing the devil's advocate, and the valuation might not seem to be too outrageous. But you have to ask yourself why a company that is shrinking its business, has negative earnings, has a possible-BK-inducing level of debt....why such a company would command a forward (based on likely optimistic earnings projections) PE ratio of around 12...especially when all its customers are losing their jobs, their houses, and their credit lines.
Don't you think?
"very cool website about Lake Mead water levels"
Some wizard posted a 20 year gif a few threads back that were outstanding. City explodes like bird poo hitting hot asphalt and lake M. looks like a bathtub draining.
@EHP: Sounds like we're just in "violent agreement", then.
Total number of restaurants must decline, and someone's gotta take the hit.
Sacramento Kings will probably be the team to move. They need a new arena, and the Maloofs already own the Palms. Might as well double down in Sin City. Only problem is that David Stern hates the idea of the NBA in Las Vegas, especially since NBAers are notorious for having gambling issues.
"If you don't take your profits, someone else will."
There it is, the Tragedy of the Commons.
Pavel Chichikov
ShortCourage
I think there exists a discrepancy between where certain sectors are today, and where they are headed in the near future. I'm fine with the argument that restaurants are still making do for now. Then there is always accounting tricks that can buy you another 1 or 2 quarters that you can quietly unwind if things recover quickly. If things don't recover quickly, there was never a chance, and so the likelihood of companies stretching the truth (when the SEC/FBI/courts are overloaded with pressing backlogs) is to be the default expectation
"Time for a big dildo-waving parade as we were informed this afternoon is the wont of the celebrant homosexual, as opposed to the staid ritual rebellion of the tea-totaller."
One word. Flamboyant. Not that there is anything wrong with that. But gays are people too and entitled to the same level of matrimonial misery as straights.
However, I reserve the right to make fun of their mannerisms, as much as they are free to make fun of mine. It is a shame that gays, not-FULL retards and WASPs are the only ones left to poke fun at in the PC world. 
Anonymous,
I wouldn't say violent disagreement at all. I may be rude but very seldom emotional. Regardless, you should grab an alias so others can reply to you by name
25 year old modestly updated homes are offered at $400 plus per sq ft in my part of NorCal.oddly,they are not being snatched up by bargain hunters...
Tom Stone
EvilHenryPaulson,
Yeah, I agree. Look how long the homebuilders have been able to keep their game going.
Or one can say that Linen and CC went under because they had little to no customer base which facilitated their bankruptcy. Meaning BBBY and BB are not winners. The current retail environment is not a a win win anymore it is survival. Given that this is not an ordinary recession ( some may debate the applicability of "recession") historical rules do not apply i.e. all bets are off. Analysts have done a poor job factoring many things e.g. mortgage defaults, house prices and bank failures but kudos to them on this one - there is very little customer base for anything beyond ( no pun) the essentials.
"Ruby Tuesday - interesting way of dicing the crappy performance. Stock is still down 50% from its 52-week high, although up 300% from its low. "
Good-bye, Ruby Tuesday, say hello to Bennigan's. They are awful, and I would rather eat at Fudd's
The second graph still looks like it's tracing out the Mortgage Pig... If that continues, there is a long way down from here.
"Cinco-X regarding credit-card debt declining"
Gotta go with usurious rates, falling limits and first in line in BK over non-recourse mortgage.
"Yeah, I agree. Look how long the homebuilders have been able to keep their game going."
Falling supply costs?
Blackhalo,
No way that falling costs can explain the homebuilders current prices.
I heard Maria Bartiromo say the Dow was down "almost two percent" today.
making an enjoyable outing impossible until the water rises again.
kinder doomerish, no?
Why is the Great Depression plotted using the DOW when the others are plotted using the S&P 500? Mixing info like that is weird and bad graphing. Why do I think that it's been done to make the more recent crises look less bad?
Is it just me, or does that graph totally look like the mortgage pig?
two hundred posts and two hours later..was it Jon at 310 who finally, first announced the graph looked like the mortgage pig
mt
Roubini blasts Cramer. 'Bout time. Cramer is exactly as Roubini says, a buffoon who hasn't a clue. Too bad you can't sue a TV pundit for spewing nonsense and lies.
first