TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| Obama Just Pulled a 'Reagan' on the Automakers Denis Ouellet submits:Could it be that President Obama has just pulled a “Reagan”? On August 5th 1981, President Reagan fired 11,345 air traffic controllers who were illegally on strike. By this extraordinary action, he showed everybody that, with the nation in peril, he meant business and the US government would not be used and abused.Complete Story » seekingalpha.com |
Porsche at Risk of Bankruptcy, Unlikely to Find Much Sympathy Thomas Kirchner submits: These days, liquidity is in short supply for all hedge funds, and it comes as no surprise the hedge fund wannabe Porsche (POAHF.PK) suffers from the same liquidity squeeze symptoms as many of its hedge fund brethren. The liquidity situation for Porsche will be critical over the next three weeks. Recall that Porsche engineered a massive short squeeze of Volkswagen common stock (VLKAF.PK) just a few months ago. Volkswagen’s common had been shorted by arbitrageurs who went long the undervalued preferred at the same time. When Porsche announced that it had acquired 75% of Volkswagen through options and intended to take over the firm, the common stock soared while the preferred didn’t budge. This led to large losses for the hedge funds when they had to cover their short positions in the common.Complete Story » seekingalpha.com |
CP Rail Loses Arbitration Hearing, Revenues Will Take a Hit - UBS FP Trading Desk submits: Teck Resources Ltd. (TCK) came out as the winner of its arbitration hearing with Canadian Pacific Railway (CP) Monday announcing it will save about C$70-million in 2009, but the drop in revenue has UBS taking a second look at CP Rail's earnings potential.Fadi Chamoun, UBS analyst, said in a note Monday:Complete Story » seekingalpha.com |
Boeing's Dreamliner: Still Grounded and No Lift-Off in Sight Market Blog submits: Boeing Co.’s new 787 Dreamliner has been anything but a dream for investors. Delay after delay has sapped the confidence that the aerospace company can make headway against rival Airbus – and it shows in Boeing’s (BA) share price. From its high in mid-2007, the stock has slipped 54 per cent, even after the rebound earlier this year. That performance is about 20 percentage points worse than the S&P 500 over the same period. And it is about 18 percentage points worse than the performance of the European Aeronautic Defence & Space Company (EADSF.PK) (or EADS, the owner of Airbus) in U.S.-dollar terms.Complete Story » seekingalpha.com |
YRC Worldwide: Trucking in Trouble YRC WorldWide (YRCW) is tanking over 50% on bankruptcy speculation. The large trucking company has been entangled in brutal labor renegotiation’s and is at the heart of the economic downturn with their highly economically sensitive transport based business. On Friday the company reported a $158.7MM loss which was followed up by a debt exchange announcement this morning. Investors are growing increasingly concerned that the announcement could result in an eventual Chapter 11 filing. Although the company is having cost difficulties (primarily labor related) the weakness at the company is primarily economically related. On the conference call CEO Bill Zollars detailed the economic struggles which we continue to see across the entire real economy. His comments would be most unwelcome to anyone who has bought into the recent stock market surge which is now not only very expensive, but pricing in very optimistic economic and earnings growth in 2010:Complete Story » seekingalpha.com |