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Got your bounce, hope you took profit lol! Crazy market!
My experience is Icahn actually encourages BK. Then he cleans up mess with assets worth more than equity and makes a fortune. Not sure how yet, but he no dummy and will make money. Shareholders will get hurt and should have been out when warning of bills not getting paid. Also the hiring of firm for BK consideration.Many red flags.
It initially did. Icahn owns over 30 million shares. Bounced from $3 back over $6?
Now they are all back into the every car rental place is going bankrupt mentality.
I play options so that was a short term trade for me.
What happened to your HTZ? You said it was going a lot higher because Icahn was buying it.
https://www.barrons.com/articles/hertz-is-said-to-be-considering-bankruptcy-what-could-mean-51588279379
China is banning traditional auto engines. Its aim: electric car domination
http://www.latimes.com/business/autos/la-fi-hy-china-vehicles-20170911-story.html
Europe Car Sales Heading for 20-Year Low on German Slide
By Tommaso Ebhardt and Scott Hamilton on April 17, 2013
Ford's Odell Says Sales Slump May Be at Low Point
European car sales are sliding to a 20-year low after German concerns over the debt crisis sent demand plunging last month in the region’s biggest economy and removed the main buffer protecting automakers.
Registrations in March fell 10 percent to 1.35 million vehicles, the 18th consecutive decline, with Germany’s auto market plunging 17 percent, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said today. First-quarter deliveries in the region dropped 9.7 percent to a record-low 3.1 million cars.
Volkswagen AG (VOW3), Bayerische Motoren Werke AG (BMW) and Daimler AG (DAI), which last year shrugged off Europe’s decline, are forecasting unchanged 2013 earnings as investor and consumer confidence fall in their home country. A recession stemming from the debt crisis, which reared back up last month with a rescue for Cyprus, has led to 12 percent unemployment in the 17 countries sharing the euro, the highest since records began in 1995.
“The car boom in Germany has come to an end,” said Hans- Peter Wodniok, an analyst at Fairesearch GmbH & Co. “People have stopped buying cars as consumers are much less confident of the future, especially after the latest decision on Cyprus.”
Volkswagen declined as much as 2.4 percent to 142.20 euros and was down 1.6 percent as of 12:55 p.m. in Frankfurt trading. BMW fell as much as 2.3 percent to 65.35 euros and was down 1.6 percent. Daimler was 0.9 percent lower.
IMF Forecast
The International Monetary Fund yesterday trimmed its 2013 euro-area economic forecast as a second year of contraction leaves the region’s recovery lagging behind the rest of the world. The Washington-based IMF sees the 17-country bloc shrinking 0.3 percent, compared with a 0.2 percent retreat seen in January, with France joining Spain and Italy in contracting.
European Central Bank President Mario Draghi said yesterday that while he expects a recovery in the second half, the outlook has “downside risks.”
The German car-sales drop was the steepest among Europe’s five biggest auto markets, and compared with an 11 percent fall in February. The U.K., where sales increased 5.9 percent, overtook Germany in deliveries in March, according to the ACEA. Spain, Italy and France all posted declines.
‘Disturbing’ Trend
“The western European passenger-car market is on track this year to hit levels last seen in 1993, and Germany seems to be in a free-fall,” Max Warburton, an analyst at Sanford C. Bernstein Ltd. in Singapore, wrote in a report to clients yesterday. “While unit profitability in Germany is not nearly as high as China, it’s still a critical driver of German carmakers’ earnings and the current trend is quite disturbing.”
Deliveries at Wolfsburg-based VW, the regional market leader, dropped 9.3 percent, with the namesake brand posting a 15 percent decline. BMW (BMW), the world’s biggest luxury-car producer, sold 4.7 percent fewer vehicles in Europe last month.
Daimler (DAI) posted a 1 percent European sales decline, with registrations at the two-seat Smart division dropping 16 percent and demand at Mercedes rising 0.8 percent. Daimler, which has said first-quarter profit will fall, plans to update 2013 forecasts this month once it assesses a European market that it has said shows no signs of recovery.
Recovery Chances
European sales at Paris-based PSA Peugeot Citroen (UG), the region’s second-biggest carmaker, and Dearborn, Michigan-based Ford Motor Co. (F) dropped 16 percent.
“A recovery in the second half looks a little less likely,” Stephen Odell, Ford’s European chief, said in an interview today on Bloomberg Television, adding that sales in the region after the first quarter are at the low end of the automaker’s forecast.
Ford and Peugeot are among auto manufacturers planning job cuts and factory shutdowns in Europe in coming years in response to the vehicle-market decline. Detroit-based General Motors Co. (GM) is scheduled to close one of its Opel brand’s five car plants in Germany next year.
“Ongoing difficulties have led to lower-than-expected industry sales during the first three months,” Allan Rushforth, head of Seoul-based Hyundai Motor Co. (005380)’s European business, said in an e-mail. “We anticipate this trend will continue through the second quarter, before an improvement in consumer confidence helps to push up sales in the second half.”
Full-Year Forecast
Full-year car sales across Europe may fall as much as 7 percent, according to Peter Fuss, a partner at Ernst & Young consulting company’s Global Automotive Center in Frankfurt.
Business confidence and an index of consumers’ willingness to buy fell in Germany last month following a botched bank bailout in Cyprus. The euro-area economy shrank 0.6 percent in the fourth quarter, the worst performance since 2009. The economy probably contracted again in the first three months of 2013, according to a Bloomberg News survey of economists.
“The market is getting worse day by day and, for the first time, I can’t see the bottom,” Fiat SpA (F) CEO Sergio Marchionne told reporters at the carmaker’s annual meeting on April 9. A decline in European sales “would be worse than the forecasts we indicated in January as our base for 2013 targets.”
GM’s European sales fell 13 percent in March, led by a 28 percent drop at the Chevrolet brand. Sales at GM’s Opel and Vauxhall divisions declined 10 percent. Among Asian carmakers, sales in Europe plunged 17 percent at Toyota Motor Corp. (7203), the world’s biggest auto manufacturer, and 10 percent at Hyundai (005380).
Fiat Drops
Renault SA (RNO) posted a 9.7 percent drop in European deliveries. The manufacturer, based in the Paris suburb of Boulogne-Billancourt, is introducing the Captur multipurpose vehicle this month in an effort to revive demand.
European sales by Turin, Italy-based Fiat (F) fell 1.2 percent because of declines at the Lancia, Chrysler and Alfa Romeo divisions. The namesake Fiat brand posted a 7.7 percent increase after introducing the 500L wagon. The new model helped slow the industrywide sales drop in Italy to 4.9 percent in March from a 17 percent plunge in February. Last month’s figures were also helped by a comparison with a year earlier, when a nationwide truckers’ strike halted deliveries.
European and U.K. stocks fell for a fourth day, with the Stoxx Europe 600 Index (SXXP) sinking 1 percent and the FTSE 100 Index (UKX) declining 0.6 percent.
In Britain, minutes of the Bank of England’s April policy meeting released today showed that Governor Mervyn King was defeated for a third month in a push for more stimulus. Six of the nine-member Monetary Policy Committee voted to keep the target for quantitative easing at 375 billion pounds ($575 billion) this month. King, David Miles and Paul Fisher wanted to increase it by 25 billion pounds.
A separate U.K. report today showed unemployment rose at its fastest pace in more than a year. Unemployment as measured by International Labour Organisation methods rose by 70,000 to 2.56 million in the three months through February, the most since November 2011. The unemployment rate climbed to 7.9 percent from 7.8 percent in the previous quarter.
Group of 20 finance ministers and central bankers meet for two days from tomorrow in Washington before IMF and World Bank talks. The Federal Reserve will release its Beige Book business survey later today.
To contact the reporters on this story: Tommaso Ebhardt in Milan at tebhardt@bloomberg.net; Scott Hamilton in London at shamilton8@bloomberg.net
Warren Buffett's China car deal could backfire
By Ben Berkowitz, Kevin Krolicki and Lee Chyen Yee
NEW YORK/DETROIT/HONG KONG | Wed Mar 9, 2011 11:02am EST
NEW YORK/DETROIT/HONG KONG (Reuters) - An ordinary American investor would probably not put money into a foreign electric car start-up suspected of openly copying competitors, let alone one whose franchised dealers occasionally put other companies' logos on its own vehicles.
But Warren Buffett is no ordinary investor, and China's BYD is no ordinary company.
At the depths of the financial crisis, Buffett put $232 million into BYD Co. Ltd., taking a 9.9 percent stake in the nascent Chinese auto business. Lest there be any doubt of the relationship, BYD showrooms are adorned with giant pictures of Buffett shaking hands with Chairman Wang Chuanfu.
More than any winning presentation at the Detroit Auto Show, more than any statistics or innovations, Buffett's imprimatur put BYD on the map, instantly making it the most serious Chinese contender among those seeking to sell an all-electric car in the U.S. market.
But diplomatic cables revealed by WikiLeaks and provided to Reuters by a third party, as well as interviews with industry consultants and executives who have examined the company's operations, raise a number of questions about the fledgling carmaker. Among other things, they describe a record of stealing designs from rivals, using those savings to undercut competitors on price and scrimping on safety.
"While BYD has certainly achieved a measure of success based on a business approach of copying and then modifying car designs just enough to convince Chinese courts that the company has not infringed on patents, it is far less certain that foreign courts will be as sympathetic," Guangzhou Consul-General Brian Goldbeck wrote in an October 30, 2009 cable that was unclassified but marked for U.S. government eyes only. It was submitted just days after BYD shares hit a new peak, driven by Buffett's backing.
BYD's questionable behavior went beyond copying designs, though. According to the consulate, the company also sold some vehicles almost at cost to boost its market share and may have advertised safety ratings for one model it did not have.
The scorching assessment of BYD by U.S. officials carried the title, "BYD seeks to 'Build Your Dreams' -- based on Someone Else's Designs." Nothing in the consulate's cable describes the motivation for the secret review of the Chinese upstart, although it notes that Buffett's bet had put BYD in the spotlight and allowed it to be seen as "one of the most promising carmakers of the future." The State Department did not respond to request for comment on the cables.
It is true that analysts view some of BYD's behavior as broadly typical of the Chinese auto industry, particularly the meticulous copying of better-known international cars. Yet analysts and industry experts in the United States say even in that context, BYD stands out, and there are questions about whether the company's much-ballyhooed -- and oft-delayed -- e6 all-electric car will ever make it to the U.S. market.
Micheal Austin, the vice president of BYD America, defended the company, its track record and the promise of its battery technology that made Buffett a believer.
He said in an email: "So where is the true technology and intellectual property? -- is it in wrapping of piece of sheet-metal around a car? or is the genius in creating a vehicle with ZERO emissions? Zero, Nada, Zip -- no noise, no smell, no smog. A vehicle that does no harm to the environment and can sell in Shenzhen China for $10,800 (after Chinese National and local incentives) -- that is genius!"
"No one can match the technology in that. Should 'they' be worried, yes. Will 'they' complain that 'Chinese' cars follow World design trends and follow design best practices? Yes," Austin said in the email.
"BYD's business and intellectual property practices in China, as well all places of the World, are compliant with local and international requirements and regulations. If there are factual complaints from (other automakers), we work hard to resolve them," he said.
Buffett did not respond to a request for comment made via his assistant, who handles his press inquiries. A spokeswoman for Buffett's MidAmerican Energy unit, which controls the investment, said "we do not speak or comment on behalf of BYD."
http://www.reuters.com/article/2011/03/09/us-wiki-buffett-byd-idUSTRE72848X20110309?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+reuters/businessNews+(News+/+US+/+Business+News)
Cool, unique, goose-bumping car care products - it’s the same in any language. OTC : FLKI
Polling the players of the Automobile After-Market Industry, I was received with the same refrain : « What a very bad time to come out with very good and innovative products. The top end of the car care product ranges are down 40% this year - even worse than the overall automobile after-market which is off about 30%. And yet, Falken Industries Ltd OTC : FLKI an uncontested global leader in consumer, professional and industrial product conceptions, is coming ahead with additions to consumer and professional lines - in the latter much-anticipated super products targeting the business of two fortune 500 multi-nationals’ offers to the body-shop and detailing centers and providing better performance at substantially lower cost.
These products, set to go on sale this fall, after their introduction at the Paris Equip’Auto tradeshow by The Clean Plus® Product Group have been on the design and conception slab for some time, conceived well before the economy began careening off track. The Clean Plus® Product Group who through its network of global distributors will offer the products is convinced that in this rare instance, timing is not everything. “Indeed, the products’ unique, goose-bumping ease of application and unbeatable performance is certain to lure even reluctant buyers” said Manuel Garcia, Communications Officer. The “Brilliance” group of innovative products integrating the Clean Plus® “Pro” line are an unusual blend of true ease of performance, deluxe design and comfortable ease of application. The products fit in an automotive category of themselves amongst professional car care products.
As luck would have it, I was vacationing in Europe while Clean Plus® researchers were previewing the products in anticipation of meetings with the automotive press. As an analyst for the industry for the better part of a quarter century, I couldn’t imagine a better way to improve on a European holiday. I sat and stared, I felt trepidation at first. Would these new products with their modern high-tech development and lavish projections of performance swap the performance criteria of existing Falken product conceptions which have racked up industry award after industry award in the last decade ?
Just like other products in the Group’s offering the new “Brilliance” collection of the professional line were easy in application and extraordinary in performance. I was surprised at how seamless the process was. Application was smooth and soft - I experienced an adrenaline rush - compared to all other brands tested, and notably the most popular in that activity sector, the Clean Plus® “Brilliance” were smooth, easy - sheer joy.
Before interviewing researchers, I tried to wipe the grin off my face. Not possible.
Looking at members of the professional press who came for a sneak preview, many of which were foreign and speaking languages I did not understand, I witnessed the attestation of a widespread recognition and anticipation for this next generation of professional car care products. Cool, is the same in any language.
I rushed to my cell phone and ordered another 5000 shares of FLKI at 50 c ! It’s no secret, I think the stock will double before the end of the year, or close, and there’s plenty of reason why, not the least of which is the foregoing.
Falken OTC:FLKI is up 45% this month - It could run virtually unchecked to 85 cents – the upside beyond that is huge.
FLKI is a leading global producer best known for its conception of the Clean Plus® brand and has the legs to move another 300% within a year.
I first alerted readers about FLKI, a company that I have followed since 1997, at a price of .05 per share, this a couple of months ago. I think that my opinion was and remains on point, the stock is at 50 cents and incredibly cheap here. Viewing the company, the markets its faltering competition and outstanding product conceptions, the upside is huge. FLKI is up 45% this month and I think it could easily move past $2.00 before the end of the year - at worse early next year.
FLKI is working on some significant acquisitions (dare I say reverse acquisitions ?) and once these happen I think the stock will move from the present 50 cents to $5,00 or more. Exclusive of acquisitions, the stock is a $ 2 - 5,00 stock and merits more.
FLKI is an aggressive diversified industrial conglomerate that operates in Chemicals, Wet Wipe and Biodegradable Technology. Falken Industries Ltd is the concept behind more than 160 products distributed through a network of global platforms and the recipient of trade awards for innovations, biodegradability and environmental and health quality standards.
FLKI in my view, should be in every portfolio, trader or investor. This company is producing incredible product conceptions targeting real world demand and already sits on some of this market’s most successful brands.
The economic crisis is a plus. Yes, I did say a plus. Budgets are squeezed. People, companies, governments will defer if not cancel all plans for new vehicular equipment. That means maintenance and the products that make that happen are crisis proof, if like FLKI they play it right : FLKI is the concept behind the world renown Clean Plus® brand of consumer, professional and industrial products.
This company is crisis proof.
The world is heading for a catastrophic crunch that could cripple global economic recovery. This is not in question. It’s all the more important to target investments to resistant companies such as FLKI, my number one pick in the Automobile After-Market sector which I have been covering for nearly 25 years.
Higher costs of production, a rapid decrease in demand and stagnation are all good reasons to add a good dose of FLKI to your portfolio. As you can see I am excited about this.
The market power of this company has made it a global player, at the source of some of the industries most successful brands. Its conservative and steadfast management planning have allowed it to build up capacities and economies of scale that are the envy of the industry.
Manuel Garcia, Communications Officer said : "We see a tightness in the markets of our competitors, people in the street will see it in terms of higher prices, much higher than we see now. It will have an impact on the consumer and we expect substantial gains in market share because we have structured operations, production, and conception such as to have maximized economies of scale and procurement. As an example one of our concepts, the Clean Plus® line of products has not increased prices since 2001.”
"It is particularly important for us to hold the line because the global economy will still be very fragile, very vulnerable and for some time. Our Distributor support and notably our PPS (Purchasing Power Subsidies) have been a significant reason for the success of the distribution network and of our products” added Garcia.
In my view, there will be a recovery in a few years' time but it will be a slow recovery and a fragile recovery and we will have the risk that the recovery will be strangled with higher raw material and production costs. This makes a crisis proof FLKI all the more fascinating.
Environmentalists are another bunch that have pushed the potential for FLKI through the roof. It’s product concepts are virtually all eco-friendly. Clean Plus® products are uniquely bio-degradable, and this without price or performance consequences - a reason in part for its global leadership in the industry. “We are draconian in our processes to avoid damaging the environment for all our product concepts” said Garcia.
Distributors interested in learning more about the Clean Plus® Product Group’s capabilities should visit www.cleanplus.com.
RECONSIDERING the idea of work OTC : FLKI
For years I have meandered through the halls, offices and board-rooms of small, medium and monster Automobile After-Market Manufacturers and Suppliers. I have the misfortune and good fortune of being an analyst for the industry, having been for nearly 25 years, and like most analyst when in doubt, I fly to the pet companies I actively follow here and there.
Managers everywhere in the auto industry have been preaching the so-called importance of the ?brain economy? expressing concern that this trend is turning the attention away from the trades and the services they provide, foundation of their businesses. Everyone is going to college, everyone is talking about a post-industrial society ; so whose going to need consumer car care products ? And what about professional products ? Skipping the obvious response on need, who is going to perform the service ? a college and university degree carrying body shop mechanic, come on.
Yesterday I was floating around (best way to pick up the scoop) through the offices of Falken, creators of the Clean Plus® branded consumer and professional products. I like their factory better but I though I would look for these creatures of modern employment in the offices of this global leader for the Automobile After-Market, after all that is where the paper pushers in cubicles are to be found I reasoned. There in the heart of this office complex I was exposed to concerns, albeit minor, that the administrative jobs were going the route of those in the manufacturing sector as administrative functions tended to be outsourced through their IT installations to any source that can be connected. It was pointed out to me that “while we have not adopted such a policy because our sales and profits are rising, amongst our competitors the loss of jobs is catastrophic as the impact of the economic crisis accelerates the process”. So the question is begged : where is the future ?
The bourgeoisie are undecided about blue collar functions work they say can only be associated to a past long gone, low-skilled laborers or immigrants. Yet the mechanical, body shop, detailing, wash, restoration and similar automobile jobs are amongst the top for survival in these times. This conclusion is supported by logic and the research I have performed on the matter quizzing 50 or more key persons in the industry. These jobs have weathered the outsourcing impulse very successfully. I see no cause for worry.
And so I told my captive audience, give up your paper work, get out-there, get your hands dirty, the Automobile After-Market is not victimized by the crisis or outsourcing trend, it is in fact promoted by both. Be independent in your thinking rely on yourself and not some paper pusher in the corner cubicle work with your hands.
As I see the trend, there are two kinds of work developing, service on a one-on-one, requiring a face-to-face, like that of a personal doctor, a dentist etc, and the remote service that doesn’t require one-on-one such as an internet article publisher - case in point. White collar workers are in the toilet, with 40 million jobs scheduled to disappear to cheaper outsourcers, but I predict exactly the contrary for one-on-one service labor in the industry, I see that as the future with remuneration and demand rising exponentially.
So what does this mean ? Well start by rethinking the impulse of pushing your kids to college, toward “clean” work. Instead consider if the child is not better oriented to one-on-one service. Of course that’s a hard one to swallow for our bourgeoisie but it’s time to wake up and smell the coffee, the future belongs to those that can successfully coordinate head and hand combinations.
Given that I have doubts as to my own abilities to do so, maybe I’ll just follow the conclusions of my own research about the demonstrated success of this company, as noted in other articles, and buy as much FLKI stock as my meager means will allow with a vision of luxurious retirement in Auto land.
Falken Industries Ltd OTC : FLKI is a diversified industrial conglomerate that operates in Chemicals, Wet Wipe and Biodegradable Technology. Falken Industries Ltd is the concept behind more than 160 products distributed through a network of global platforms and the recipient of trade awards for innovations, biodegradability and environmental and health quality standards.
Thank you.
Obviously reasonable men can disagree but find reasonable solutions.
Best regards
Buddy it's off topic but since you came back with such a passionate response, what the hell post away!
With all due respect you are missing the point in a big way. If FLKI is off topic the Automobile Industry then I am Mickey Mouse. FLKI is amongst if not the most represented manufacturer and product designer in the Automobile Industry, notably the Automobile After-Market. Its Autocare brands (Clean Plus® and Bianci®) are the leading brands in Europe and other places of the world most people didn't even know existed. All FLKI does is Auto and Vehicular products and that is true for consumer, professional and industrial products. Indeed FLKI won the European Product Innovation Award - and for what "Car Care"...
Consequently I find outrageous that you would qualify FLKI as anything but fully integrated in the Automobile Industry. As a leader in the global Automobile After-Market industry, and a supplier to automobile manufacturers and suppliers everywhere it is hard to conceive that posting to this board about FLKI would be deemed "off-topic" - please !
FLKI is properly poste on the "The Auto Board".
FLKI is off topic here, they have very little to do with the Auto industry...
Any further posts will be deleted...
FLKI achieves substantial reduction in procurement leading to better and lower costs for its high end product conceptions.
World Trading, an affiliate of Falken Industries Ltd (OTC : FLKI), and Norex International (France) Inc Entered into a Strategic Partnership Agreement for Procurement and completes first agency transaction in Bio Substrates
Falken Industries Ltd (OTC: FLKI), a rapidly growing company operating globally in two core business segments, chemical and wet wipes product conceptions, announced today that its recently established affiliate, World Trading, has entered into a strategic partnership agreement with Norex International. ("Norex"). Under the terms of the agreement World Trading will assist Norex in procuring various innovative high tech substrates for manufacture and distribution of FLKI conceptions to its markets.
Norex is engaged in in the manufacture, sale and distribution of chemicals and wet wipes. Norex supplies a large range of finished chemical and wet wipe products for various industries. FLKI product conceptions rely on unique innovative and entirely eco-friendly materials, and the alliance is expected to result in substantial economies of scale for manufacturers of FLKI conceptions, including the world renowned Clean Plus® brand.
The alliance will leverage raw material cost. Norex maintains customers throughout the world. Raw materials will be supplied by World Trading from global suppliers in India, Hong Kong, Nigeria, Brazil, Turkey, the Philippines and Libya and others. Norex International’s product lines include bulk chemicals, finished product lines, degreasers, soaps, anti-graffitis, flow packs, wet wipes for consumer, professional and industrial uses etc.
Commenting on this agreement, Manuel Garcia, Communication Officer for FLKI, stated, "We are excited to have forged this relationship and to begin sourcing through World Trading for Norex. We are very encouraged by the potential opportunities before us to source various innovative materials and substrates ensuring substantial savings in the cost of raw materials for all producers and consequently distributors of FLKI product conceptions."
The agreement will greatly facilitate and indeed ensure the continuation of FLKI product conception’s present price and quality leadership for distributors throughout the world.
Commenting on the letter of intent, Garcia added, " Sales of FLKI conceptions such as the Clean Plus® branded products have become a major export for many distributors with international sales growing at a compounded rate of 100% over the past few years. We believe the demand for FLKI product conceptions will continue to grow as customers attempt to increase the life of their capital investment – most notably in the Automobile After-Market where the Clean Plus® brand is a recognized global leader for car and vehicular care.
About Falken Industries Ltd :
Falken Industries Ltd OTC : FLKI is a diversified industrial conglomerate that operates in Chemicals, Wet Wipe and Biodegradable Technology. Falken Industries Ltd is the concept behind more than 160 products distributed through a network of global platforms and the recipient of trade awards for innovations, biodegradability and environmental and health quality standards.
FALKEN INDUSTRIES LTD (OTC : FLKI) Setting Up For It's Next Move
I was studying the Falken Industries Ltd (OTC : FLKI) press and information on Friday, and noticed a pattern setting up that could be very exciting for today's and future shareholders who want to make money.
On the fundamental side, this company is absurdly undervalued in my view, and this is one stock that could participate in a big way if the market scampers higher in the seasonally strong fourth quarter.
As I chronicled in my first edition on the company, a clearer picture of the company's earnings power is emerging. The pro-formas I drew were eye popping, and suggest this stock has a long way to go to the upside. As the stock price appreciates, bigger and bigger players will take notice.
Consider the quarter over quarter growth. At last count, a 28% improvement in just three months!!! Know any other US companies growing at that rate? Amazing.
Stocks tend to make 90% of the big moves in 10% of the time they trade, and this stock appears to be setting up for a big surge on an immediate basis from the 50 c to 85 c levels.
The stock is in a clear uptrend. It's starting to work higher right off a perfect 38.2% fibonacci retracement of the big 10 day surge.
There's several pretty strong technical indications that this stock wants to work higher, and then explode. If we weren't looking at September just around the corner, it would be a slam dunk.
September can be a seasonally treacherous month for the markets, but the way things have been the last few years, who knows what will happen.
FLKI is a phenomenal opportunity on the growth of a "crisis" proof company. In my view, assuming no massive melt down in the markets - this is $1.50 to $2 by year's end give or take a month or two.
Wonder why everyone's talking about FLKI in the financial media? It's not complicated, the company's operations are simply the most robust in its industry, and the growth is simply outstripping all of its competitors.
John David one of the nation’s most respected expert analyst on the Automobile After-Market Industry holds FLKI as a global leaser in the consumer, professional and industrial chemical, wipe, wet wipe and car and vehicular care industries.
Falken Industries Ltd OTC : FLKI is a diversified industrial conglomerate that operates in Chemicals, Wet Wipe and Biodegradable Technology. Falken Industries Ltd is the concept behind more than 160 products distributed through a network of global platforms and the recipient of trade awards for innovations, biodegradability and environmental and health quality standards.
Yes, looking for VSTN to rise up soon.
We also may see some secondary news on the parts supplier's based on the auto sales increases from the junker program. This should help the warehouses to start reorders and help the prices the next couple months.
Mike it has broken out on that chart for sure. It looks like it could hit the 6 spot in afterhours today. Volume earlier was just insane.
GM emerges from bankruptcy
GM's path to leave Chapter 11 cleared
AP – The General Motors headquarters is seen in Detroit, Thursday, July 9, 2009. A person briefed on the matter … By TOM KRISHER, AP Auto Writer Tom Krisher, Ap Auto Writer – 8 mins ago
DETROIT – The new General Motors arose on Friday as lawyers finished an all-night paperwork session transferring the automaker's good assets to a brand-new company controlled by the U.S. government.
The massive transfer of factories, money and intellectual property was completed about 6:30 a.m., according to a person briefed on the situation, clearing the way for a smaller and faster company better equipped to compete in the brutally tough global automotive market.
The person, who asked to remain anonymous because the deal wasn't announced officially, said the signing meant the new GM had emerged from bankruptcy.
One bankruptcy expert called GM's 40-day case the fastest ever for a company of its size.
GM's warp-speed emergence from bankruptcy is expected to be announced by CEO Fritz Henderson and new Chairman Edward Whitacre Jr. at a 9 a.m. news conference at the company's Detroit headquarters.
Henderson is expected to announce details of the plan to make new GM profitable again. The troubled automaker has lost more than $80 billion in the past four years.
Once the world's largest and most powerful automaker, new GM is now cleansed of massive debt and burdensome contracts that would have sunk it without federal loans. Spurred on by the Obama administration's support, the bankruptcy process was two day's faster than crosstown rival Chrysler Group LLC's 42-day timeframe.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
DETROIT (AP) — A person briefed on the matter says General Motors Corp. has emerged from bankruptcy protection after signing papers to transfer the bulk of its assets to a new, leaner company majority-owned by the U.S. government.
The person, who asked to remain anonymous because the action hasn't been officially announced, said Friday the action came at 6:30 a.m. EDT Friday.
One bankruptcy expert called GM's 40-day case the fastest ever for a company of its size.
The new GM is a smaller company that is less burdened by the staggering debt that nearly sent it to liquidation.
American Axle (AXL) appears to be the next auto supplier
destined for bankruptcy protection. JPMorgan sees three possible outcomes:
covenant extensions, aid from GM and CEO Dick Dauch's fighting to avoid Chapter
11. Firm says the banks will likely give AXL a short-term break on its
covenants allowing the company to run out of money on its own. GM providing
some aid - such as accelerating payments - could happen but GM is now
controlled by the federal government, which could kill the idea. Dauch will
fight but it may not be enough to keep the company out of bankruptcy. (JHB)
Lear prepared to file for bankruptcy next week: report
On Thursday June 25, 2009, 4:58 pm EDT
DETROIT (Reuters) - Auto parts supplier Lear Corp (LEA - News) is preparing to file for bankruptcy as soon as next week, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Reuters - The headquarters of Lear Corp., an auto parts maker, is seen in Southfield, Michigan in this February 9, ...
The news comes as Lear faces a June 30 window, through which its lenders have agreed to waive the existing defaults under its primary credit facility.
Lear, which warned in March it might have to file for bankruptcy, has been exploring alternatives to restructure its debt outside of bankruptcy over the past months.
Lear spokesman Mel Stephens declined to comment.
The Journal reported that Lear had been in talks with banks in recent days for debtor-in-possession loans, the funding companies typically use to finance their stays in bankruptcy court. JPMorgan Chase (JPM - News) and Citigroup (NYSE:C - News) will provide the bulk of the loan, according to the report.
Shares of Lear closed down 39 percent, or 34 cents, at 54 cents on the New York Stock Exchange before the news.
Southfield, Michigan-based Lear was in breach of its leverage covenants at the end of 2008 after borrowing all of the $1.2 billion available to it under the primary credit facility during the fourth quarter.
It had $3.5 billion of outstanding debt at the end of 2008, according to a filing with the Securities and Exchange Commission.
Lear, which makes seating and electrical equipment for vehicles, has suffered because of steep production cuts by General Motors Corp (Other OTC:GMGMQ.PK - News) and Ford Motor Co (NYSE:F - News), which accounted for 42 percent of its global revenue in 2008.
U.S. auto sales fell 36.5 percent in the first five months of 2009 to their lowest level in nearly three decades.
The U.S. auto parts sector, already teetering on the brink of failure, has come under further pressure after Chrysler shut down nearly all of its production for the duration of its bankruptcy reorganization.
GM, which filed for bankruptcy on June 1, has also idled 13 assembly plants in North America for as long as nine weeks starting in mid-May.
(Reporting by Soyoung Kim; Editing Bernard Orr)
DEBT HOLDERS SEE TRAGEDY IN LEAR CHAP. 11
Debt holders in car-seat maker Lear Corp. are bracing for impact, as the firm appears headed for a collision course with a Chapter 11 bankruptcy over the next several days.
A debtholder told The Post that Lear, which had been General Motor's ninth-largest auto supplier, is choking on too much debt and won't be able to restructure itself as the woes in the car industry, which have already taken their toll on Chrysler and General Motors, begin to hit the automakers' suppliers.
http://www.nypost.com/seven/06252009/business/debt_holders_see_tragedy_in_lear_chap__1_176001.htm
11:43 White House turns down auto suppliers' aid request
WSJ reports the Obama administration has turned down a request by auto-parts suppliers for up to $10 billion in new aid, saying that the govt shouldn't further interfere in the industry's contraction. In rejecting the request late last week, the Treasury Department appears to have drawn a line in how much taxpayer money it is willing to spend on saving the U.S. auto industry. The move also indicates that the administration is confident that its multibillion effort to save General Motors Corp. and Chrysler LLC have stabilized the car industry. Neil De Koker, president and chief executive of the Original Equipment Suppliers Association, said Obama adviser Ron Bloom turned down the suppliers' request in a meeting last week. Mr. Bloom and several of his staffers told Mr. De Koker "that consolidation for the industry needs to take place." "'We all recognize that and we don't think that having a general program of assistance to all suppliers would help that, nor is needed at this time,'" Mr. De Koker, in an interview with DJ, recalled them saying.
Lea has sights on 200 MA. Comming soon.
Auto suppliers up as Chrysler sale closes
On Wednesday June 10, 2009, 12:03 pm EDT
Buzz up! Print Related:ArvinMeritor Inc., American Axle & Manufacturing Holdings Inc., Dana Holding Corporation
CHICAGO (Reuters) - Shares of U.S. auto suppliers rose sharply on Wednesday as news that Italian automaker Fiat SpA (Milan:FIA.MI - News) had completed the purchase of Chrysler LLC's strongest assets erased fears that the U.S. car maker could face liquidation if the deal did not go through.
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The deal was also seen as a good omen for General Motors Corp's (Other OTC:GMGMQ.PK - News) progress through bankruptcy and eased concern over whether some auto suppliers could survive the current downturn.
Shares of Dana Holding Corp (DAN - News) rose nearly 16 percent to $1.76, while American Axle & Manufacturing Holdings Inc (AXL - News) was up 24 percent at $4.44. Lear Corp (LEA - News) surged nearly 45 percent to $2.30, ArvinMeritor Inc (NYSE:ARM - News) was up 11 percent at $4.17, and Tenneco Inc (NYSE:TEN - News) rose more than 6 percent to $9.81.
"The completion of the alliance with Fiat starts to take the threat of liquidation off the table for Chrysler, which was a serious cause for concern," said independent auto analyst Erich Merkle.
"This at least sets a good tone for GM as it proceeds through bankruptcy," he added. "Thus far, it looks like GM's bankruptcy should be fairly smooth and that disaster has been averted for now."
Analysts and industry experts say the collapse of any of the Detroit Big Three automakers -- GM, Chrysler or Ford Motor Co (NYSE:F - News) -- would send shock waves throughout the U.S. auto supplier base and push many companies out of business.
(Reporting by Nick Carey; editing by Lisa Von Ahn)
Huge Volume coming in on LEA today again!
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