TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| TransDigm: Issuing Debt for Dividends? Ockham Research submits: The Wall Street Journal is reporting that aircraft parts supplier TransDigm Group (TDG) is planning to float $425 million worth of debt for the primary purpose of giving a special dividend to shareholders. Management has said that $360 million of the debt offering will be used to pay a special cash dividend expected to be $7.50 to $7.70 per share. The article in The Journal makes some points as to the rationale behind such a move. The added debt increased TransDigm’s borrowings to 4.3 times its earnings before interest and taxes, compared with 3.1 times before last week’s deal. The expected dividend of $7.50 to $7.70 a share is equal to nearly all of the net income that TransDigm reported since the end of fiscal 2003, according to Moody’s Investors Service.Complete Story » seekingalpha.com |
Truck Tonnage Jumps in November, But There's Still a Rocky Road Ahead The Pragmatic Capitalist submits: The trend in truck tonnage is moving in the same direction as rail freight. Though the comps are very easy on a year over year basis tonnage was still down 3.5%. Much like the trend we’ve been seeing in freight volumes the trend is certainly positive, but the year over year comps remain very week. There is no denying that the economy is coming off its very low trough, but the strength of the rebound is certainly in question. From the ATA: ATA Chief Economist Bob Costello said that tonnage is moving in the right direction. “Slowly, but surely, truck freight has started the recovery process and November’s solid increase is a very positive sign,” Costello noted. He said that November’s tonnage levels were pushed higher by improved economic activity, as well as by an inventory correction that is near completion. “Truck freight had been hurt by both slow economic output and bloated inventories; however, we now have evidence that the inventories are in much better shape, which will not be such a drag on truck freight volumes.” Costello continued to be cautious about the future though. “While the economy and trucking is improving, the industry should not get overly excited about the sizeable increase in November. I continue to believe that both the economy and truck tonnage will exhibit starts and stops in the months ahead, but the general trend should be for moderate growth.”Complete Story » seekingalpha.com |
How Toyota's Doing Fat-Cat Bankers a Favor Rick Newman submits:Notice who's not getting grilled these days?Federal Reserve Chairman Ben Bernanke has managed to testify before Congress without generating any headlines at all about giving billions to AIG. Treasury Secretary Tim Geithner is doing soft-news photo ops and appearing in Vogue without drawing criticism for neglecting a troubled economy. Most surprising, there's barely a tremor over Wall Street bonuses that totaled $20 billion in 2009, a 17 percent rise over 2008 bonuses. Apparently everybody else in America got a 17 percent raise last year, so out on Main Street they're not begrudging Wall Streeters a modest bump-up.Complete Story » seekingalpha.com |
Opportunity in the L.B. Foster and Portec Rail Products Takeover Saga Tom Konrad (AltEnergyStocks) submits: LB Foster (FSTR) may not succeed in its attempt to buy Portec Rail Products (PRPX) unless they raise the offer price. As a Portec Rail Products (PRPX) shareholder since 2007, I've been watching the saga of L.B Foster's (FSTR) attempt to buy the company fairly closely, and it's been a lot more interesting than we could expect. I've put together a detailed time line at the end of this article.Complete Story » seekingalpha.com |
MarineMax, Inc. F3Q10 Earnings Call Transcript MarineMax, Inc. (HZO)F3Q10 Earnings Conference CallJuly 29, 2010 10:00 AM ETComplete Story » seekingalpha.com |