| 'Mark to Model' Redux Old Trader submits:One would have thought that, given the debacle in last fall's markets, it would be QUITE some time before that method of valuing assets would be used by banks, or other lenders. It seems that one would be mistaken, however, according to an article in Monday's (Oct. 26) FT.Two of the largest banks involved in ship financing, HSH Nordbank, the world's largest shipping bank, and Deutsche Schiffsbank, Germany's second largest, are set to use the Hamburg Shipbrokers' Association's "Hamburg Ship Evaluation Standard" in computing the value of the ships that form the collateral for loans, rather than using "market value".Complete Story » seekingalpha.com |
Oshkosh Corporation F1Q10 (Qtr End 12/31/09) Earnings Call Transcript Oshkosh Corporation (OSK)F1Q10 (Qtr End 12/31/09) Earnings Call TranscriptJanuary 28, 2010 9:00 am ETComplete Story » seekingalpha.com |
Airline Employee Pay Raise Demands: Not Just Pie in the Sky Jim Delaney submits: During the depths of the credit crisis, when there were more homeowners defaulting on mortgages than lattes being sold at Starbucks, just about the only people flying were the Ryan Binghams of the world. [FYI: Bingham was the character played by George Clooney in “Up in the Air” who worked for a downsizing firm. (You’re welcome.)] Things have turned a bit for the flyers of big silver birds as revenue began increasing around the turn of the year with Continental (CAL) reporting in early January that its December traffic was up 6% YoY for that month and that 83% of the seats on its planes were full. Hunter Keay, an airline analyst at Stifel Nicolaus Capital Markets, remarked, “It looks like the pace of recovery is gaining momentum. The question now is whether it’s sustainable.”Complete Story » seekingalpha.com |
Covenant Transportation Keeps on Truckin' Jim Van Meerten submits: Covenant Transport, Inc. (CVTI) is a truckload carrier that offers just-in-time and other premium transportation services for customers throughout the United States. They do it all from driving the rigs, loading and unloading the trucks and keeping track of where your inventory is, when it will be delivered and also performs billing services. As the economy recovers they should land their share of new business. The stock had recent price appreciation in 15 of the last 20 sessions with a price increase of 30.40% last month. This is a 100% Barchart technical buy and trades at 8.75 with a 50 day moving average of 8.30. Analysts for Wall Street brokerages have 1 buy and 3 hold reports published and estimate that sales will increase 11.60% this year and 8.30% next year. The recent price action may be attributed to estimates that the EPS will increase by 121.90% this year, 133.30% next year and continue at a 5.00% rate for the next 5 years.Complete Story » seekingalpha.com |
Safe Bulkers, Inc.: Risk/Reward Disproportionate? Zach Mansell submits:Safebulk Shippers (SB) is a relatively new play in the drybulk shipping game. Currently, Safebulk operates 15 vessels and will be receiving delivery of seven more at different intervals between now and 2013.The drybulk industry has been terribly volatile during the course of the recession with rates dropping substantially from their highs in 2008 and recovering quite a bit in 2009. Since then rates have come down a bit again and I believe that a play can still be made on the recovery of the industry. Safebulk Shippers has net income of $24.4M for the six months ending June 2010. This is significantly down from rates in the corresponding 2009 period. This is due to a decline in shipping rates, but is also due to company receiving a large amount of money throughout the year 2009 for early redelivery fees that they were able to collect.Complete Story » seekingalpha.com |