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Stimulus czech? = Paulina Porizkova ? I did not get mine, maybe they don't have envelopes that big.
"I should slightly rephrase" - Well that just fine and dandy. LOL
You say something that I can prove from experience to be wrong. I have faced up against businesses selling below cost for years (not 4 months) and they usually last the length of the patience of various suppliers. A good "operator" can use up a vast array of suppliers and extend credit by give bits and pieces of cash payments from time to time to stall. Fraud or not it is a part of the business world and I know it from my own business as well as seeing hundreds of other businesses doing that and much worse to survive.
I am of course talking about smaller business than those involved in dumping cases, but I think the theories hold up. Think "loss leaders" - it is done all the time in almost every industry except those that have an overwhelming demand built up for the products.
As to condescending - it was not meant to be offensive. I routinely as part of my "job" as business owner cross examined and dug for info from all my vendors, sales reps who called on me as well as technicians who came to repair equipment, truck drivers who delivered and the custodial & security staffs of the various office buildings near us. Quite frankly operating a small business is an exhausting task if done to its fullest. I burnt myself out of that business after 15 years and was lucky enough to sell it to a greater fool !
dtt
"I think it is exceedingly rare for companies to sell at a loss. It just makes 0 sense."
Happens all the time!
1. Company has no true idea of what the product costs.
2. Wants to maintain a full production capacity in hopes of being ready when demand hits.
3. Wants to keep quality employees without being a "layoff" type of operation.
4. Needs to keep competitors from getting a foothold.
It may make zero sense to you, I am guessing you never owned your own business, or you would know the real story.
I often had to compete against companies that sold below cost. Many times they were not paying bills and therefore they could sell stuff @ half of what my cost was. When the vendors finally dropped the hammer on them they were gone. They of course left a big financial mess behind that the rest of us pay for in higher prices for raw materials.
dtt
CROX, and those silly fools were most likely buying her CROX @ $45 - the way of Wall Street!
CROX: How about looking at the products? The big deal product is a plastic molded shoe that within 5 minutes of launch has been ripped off by every Chinese & Asian manufacturer. My wife bought $30 CROX for the kids and herself, I spent $7.00 for essentially the same thing. At that price they are worth buying for kicking around the house or yard.
When I explained those facts to my neighbor, she decided not to buy CROX shares @ somewhere in the $50 range.
Other than a short term trade, would not touch it with ten foot toes.
2 earner families on a different level have been the downfall of our society. Children being raised in daycare and absentee parents is a big mess.
Families may have 2 earners but wages are not keeping pace and the high paying jobs like auto workers are going bye bye.
It is a sad beginning of the end, unless we innovate our way out of the mess like prior generations have done. Think alternative fuel industry growth, if we would get off our butts and get it done.
Hate to use the political buzzword - CHANGE
Looks like they are finally trying to get the commercial product sold to the market. Real or scam? Either way I think it could go much higher.
Just waiting for the chance to sell off the balance of my shares. Wish he would just retire, however I think Barchenko will be carried out before he retires. Why I did not sell off all my shares in the 80's I will never know?
93.33 oil
933.33 gold
9933.33 dow
DPDW: How low does it go??? Thanks for the heads-up KIK, I was asleep at the wheel.
SWTX KIK: Thanks... It seems like KIK put the KOD on SWTX for the moment. Almost exactly as I read the message the HOD was reached.
"How anyone doesn't love Wal-Mart is beyond my comprehension."
I am as you may recall a long time Wal-Mart hater! My local community fought WM for years and prevented them from building near to me. I give thanks to those people every-time I hear the WM name.
Cheap drugs - Americans eat too many pills. Making them super cheap just gives lazy doctors more reason to prescribe them and not find the true cause of illness. Why do we need so many drugs? Maybe because we are loading up on cheap WM Pepperoni Pizza - loaded with all sorts of extra crap. Ho-Ho's, soda.. Len you won't make it to 120 years of age eating like that!
You have convinced me that WM is even worse than I thought.
As to inflation, obviously they are lying about the numbers.. they must be so high from Ho-Ho's or Twinkies and soda that they can't think straight when they are doing the calculations. So it can all be blamed on WM and cheap food prices.
Take a look at the I Bond base rate starting this May. ZERO . . . things are so bad that if you buy the bonds now you will only get an inflation based payment with no underlying rate to the bonds. The inflation number they admit to is 2.42 and I assume they were so worried that will continue upward that they had to drop the static underlying rate to ZERO. If for example inflation were to actually be ZERO, the bonds would be paying the bondholder - ZERO. Very strange!
"This Rule 6600 Series sets forth recording and reporting requirements for certain quotations and unpriced indications of interest displayed on inter-dealer quotation systems and the trade reporting requirements applicable to members' transactions in equity securities for which real-time trade reporting is not otherwise required (hereinafter referred to as "OTC Equity Securities"). Members shall use the OTC Reporting Facility for trade reporting in OTC Equity Securities."
The BB is what it is. The MM's are under no requirement or obligation to list or show customer bids or offers. That they often do so is at their pleasure and IMO done to keep the electronic systems like ARCA from gaining market share.
It is best to have several accounts and submit the order elsewhere to see if your bid gets the time of day. They don't want you messing with the spread and stealing $$$ from them on that particular stock.
OT: Has anyone come out with an ETF that tracks (in a positive way) the total destruction and annihilation of our economic systems?
I sure would like to make some cash on that eventuality. Just the thought of it gives me goose-bumps, standing in line for my new GMC Tahoe with wads of cash, $18.00 /gallons of gas and a country in total disarray.
I am pretty sick and tired of those who post in hopes of trying to make a few bucks on the backs of the rest of America & the world.
Vote this November for the status quo!
SWTX: A long ago board favorite doing a slow tortured turn-around. Still own a few shares of which I sold 1/3 of them today. Up 48% for the day right now @ $1.26
If the turn-around is sustainable then the stock is undervalued. If not then it's back down to $.50
Gulf Resources, Inc. Announces First Quarter 2008 Financial Results
Thursday May 8, 12:24 pm ET
-- Revenues Increased 118% to $21.9 million
-- Net Income Increased 140% to $6.1 million
-- EPS Doubled to $0.06 per diluted share
NEW YORK & SHANDONG PROVINCE, China--(BUSINESS WIRE)--Gulf Resources, Inc. (OTCBB: GFRE - News), a leading producer of bromine, crude salt and specialty chemicals in China, today announced its operating results for the first quarter of 2008.
Net revenues for the first quarter of 2008 increased 118% to $21.9 million compared to $10.1 million for the first quarter of 2007. First quarter’s net income was $6.1 million, compared to $2.6 million for the first quarter of 2007, with earnings per share increasing to $0.06 per diluted share compared to $0.03 per diluted share for the comparable period of 2007.
Ming Yang, Chief Executive Officer of Gulf Resources stated, “We are very pleased with our first quarter results. During the quarter, our growth in revenues and the increase in net income, compared to last year’s results, were due to our successful integration of four bromine acquisitions completed in 2007 and an improvement in operating efficiencies across all our businesses. Additionally, during the quarter we completed our fifth acquisition of a bromine production facility, with annual production capacity of roughly 4,700 metric tons, and look forward to a significant contribution from this acquisition in future quarters due to continuing strong demand.”
First Quarter Highlights
The $11.8 million increase in net revenues during the first quarter of 2008 was attributable to strong growth in sales in our bromine and crude salt segment, with its revenue more than tripling to $16.4 million from $5.3 million in the first quarter 2007. This was primarily a result of the five bromine asset purchases, production increases in our existing facilities and favorable foreign exchange rates. Another factor contributing to the Company’s revenue increase was the 16% increase in chemical product sales, which reached $5.5 million, up from $4.8 million in the first quarter 2007. This increase resulted from the introduction of new products and the addition of new customers.
Gross profit in the quarter was $9.4 million with a gross margin of 43%, compared to $4.0 million in gross profit and a gross margin of 40% recorded during the first quarter 2007. The favorable variances resulted from the higher revenues, along with increased economies of scale achieved in large part due to the asset acquisitions while continuing to improve operational efficiencies and cost controls.
General, administrative, and research and development expenses in the quarter were $1.0 million, up $0.9 million from last year’s first quarter level, reflecting the professional fees resulting from the Company’s new corporate structure and the funding of a new research venture.
Net income in the first quarter was $6.1 million, an improvement of $3.5 million, or 140% from the prior year’s $2.6 million. This increase reflects the higher revenues, improved cost efficiencies and a reduction in our effective tax rate in the quarter to 27%, resulting from the lowering of the Chinese corporate income tax rate.
Balance Sheet and Cash Flow
The Company had $11.0 million in cash and equivalents, and $20.9 million in notes payable as of March 31, 2008. During the quarter, the Company generated $7.1 million in cash from operations, an increase of $6.0 million over the first quarter 2007 level, largely due to the increased net income.
Fiscal 2008 Outlook
Gulf Resources reaffirms previously issued guidance for its 2008 financial results, with revenues expected to be between $84 million to $90 million, net income expected to be between $22 million to $25 million, and diluted earnings per share expected to be between $0.22 and $0.25. This guidance does not include the impact of any unusual charges or the impact of potential acquisitions.
Mr. Yang concluded, “Gulf will continue to leverage our leading position in the China bromine market to seek out opportunities for profitable growth, through acquisitions and operating efficiencies, in both our business segments. We are delighted about the progress our company has realized in the past and look forward to building upon that in each succeeding quarter. Our focus is, and will remain, to provide increased value to our shareholders.”
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through two wholly-owned subsidiaries, SCHC and SYCI. SCHC is engaged in the production and sale of bromine and crude salt in China. Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. SYCI manufactures chemical products utilized in a variety of applications, including oil & gas field explorations and as papermaking chemical agents.
For more information, please visit: www.gulfresourcesco.com
Forward-Looking Statements
Certain statements in this news release contain forward-looking information about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in the PRC, future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks factors detailed in the Company's reports filed with the Securities and Exchange Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Gulf Resources, Inc.
and Subsidiaries
Selected Consolidated Statements of Operations
(in millions, except per share amounts)
(unaudited)
Three months ended
March 31,
2008 2007
Revenue $ 21.9 $ 10.1
Cost of revenue 12.5 6.1
Gross profit 9.4 4.0
General, administrative, and research and development expenses 1.0 0.1
Income from operations 8.4 3.9
Other income (expenses) - -
Income before income taxes 8.4 3.9
Income taxes (2.3 ) (1.3 )
Net income $ 6.1 $ 2.6
Basic and diluted earnings per share $ 0.06 $ 0.03
Basic and diluted weighted average number of shares 99.7 88.2
Selected Segment Information
(in millions)
(unaudited)
Bromine and Chemical Segment Consolidated
Crude Salt Products Total Corporate Total
Three months ended
March 31, 2008
Net revenue $ 16.4 $ 5.5 $ 21.9 $ - $ 21.9
Income (loss) from operations $ 7.2 $ 1.8 $ 9.0 $ (0.6 ) $ 8.4
Three months ended
March 31, 2007
Net revenue $ 5.3 $ 4.8 $ 10.1 $ - $ 10.1
Income (loss) from operations $ 2.3 $ 1.7 $ 4.0 $ (0.1 ) $ 3.9
Gulf Resources, Inc.
and Subsidiaries
Selected Consolidated Balance Sheet Items
(in millions)
(unaudited)
March 31,
2008
December 31,
2007
Cash and cash equivalents $ 11.0
$
10.8
Accounts receivable 7.3
3.9
Property, plant and equipment, net 40.4
30.1
Notes payable
Short term -
9.9
Long term 20.9
5.5
Accounts payable and accrued expenses 4.5
2.9
Taxes payable 3.4
1.5
Total stockholders’ equity $ 34.1
$
26.5
Selected Consolidated Cash Flow Items
(in millions)
(unaudited)
Three months ended
March 31,
2008 2007
Net cash provided by operating activities $ 7.1 $ 1.1
Property, plant and equipment, (9.9 ) -
Net cash from financing 4.7 (3.5 )
Dividends paid - (4.7 )
Free cash flow (use) $ (2.8 ) $ 1.1
Free cash flow (use) is defined by the Company as net cash provided by operating activities, less spending on property, plant and equipment. The Company believes that this measure, which is a non-GAAP financial measure, is useful to investors as an indicator of cash flow available or required for debt and other investing activities, such as acquisitions. The Company utilizes free cash flow (use) as a further indicator of operating performance and for planning investing activities.
Contact:
Gulf Resources, Inc.
Kevin McEnery, 646-200-6302
Managing Director – Finance
Kevin@gulfresourcesco.com
or
Ethan Chuang or Kate Ou
646-200-6316
Ethan@gulfresourcesco.com
or
Winning IR Company, Ltd.
Adam Jacobs, 646-200-6351
Adam.Jacobs@winningir.com
Where have all the pumpers/dumpers gone?
I was a bit surprised at the low volume on this dive to the low 1's. I expect that eventually we will see $3 - $4 this year.
Why are they suckers? SF is a great place to live with a finite amount of housing. Once you reach a certain income strata and have a bankroll to support it then the upper level homes are in demand.
If I did not have young kids, I would have moved back to SF. It has great cultural activities, excellent restaurants and for me the best weather. Public schools are awful, so we left. Did not want to spend $20K per kid for school. If I had $3 million to spend on a house I would love to return.
The price of my home doubled in a few years when I was there, and has gone up at least 50% since I sold. I did not consider myself a sucker when I bought or sold.
You only live once (I think) so why not spend the money on what makes you happy!
Len is setting R59 up to become the next Sheriff. Len has accepted a college basketball coaching position.
Keep it quiet as the media has not been informed.
DPDW - it is pumped to a nauseating level. One of the worst boards on the internet. However DPDW stated from day one that it was going to do a roll up strategy and to date has followed through on it. The sum of the parts could amount to a great company when all is said and done.
It may take several years of holding your nose, but I think that the players involved have the ability to make it work. That is assuming they lower the total share count so us little guys can get a break. The insiders should think long and hard about returning some shares to the company. The initial promoters/pumpers seem to be mostly gone from it.
I will be holding my remaining shares for $10.00 or bust.
Enjoy - Maybe you will get your wish and have McCain for Pres.
Whose Elitism is Worse?
Thu Apr 17, 3:00 AM ET
It is hard to blame John McCain for mocking Barack Obama as an "elitist" following that silly remark about bitter folks who cling to guns and religion. Rarely does the Arizona senator — one of the wealthiest members of Washington's most exclusive club — encounter such a tempting chance to masquerade as a populist.
Making the most of that opportunity, elder statesman McCain delivered a brief history lecture to the young upstart from Illinois. "During the Great Depression," he said in a statement released by his campaign, "with many millions of Americans out of work and the country suffering the worst economic crisis in our history, there rose from small towns, rural communities, inner cities, a generation of Americans who fought to save the world from despotism and mass murder, and came home to build the wealthiest, strongest and most generous nation on earth.
"They suffered the worst during the Depression, but it did not shake their faith in, and fidelity to, America. They did not turn to their religious faith and cultural traditions out of resentment and a feeling of powerlessness to affect the course of government or pursue prosperity. On the contrary, their faith had given generations of their families purpose and meaning, as it does today."
Now this is all standard-issue rhetoric, designed to insinuate that Obama disdains traditional American culture and religious piety (although he probably attends church at least as often as McCain). Harking back to the era of the Depression and World War II, the Republican may have unintentionally emphasized both his own advanced age and the perilous condition in which his party and president have left the country and the world.
The inspiring story of the "greatest generation," in which he seems to be claiming honorary membership, is not only a narrative of faith and patriotism. The brave men and women who rose from America's towns and cities to defeat fascism had a stake in a democratic society "worth the fighting for," to borrow the title of McCain's last best-seller. Despite the terrible rigors of the Depression, they remained confident in democracy's future because a progressive government acted vigorously on behalf of them and their families — and acknowledged their service when they returned from war.
When those soldiers came home to build the nation that dominated the 20th century, they achieved unprecedented prosperity and security, thanks not only to their own work and faith, but also to liberal policy that guaranteed their education, health care and access to credit. The original 1944 GI Bill ranks among the greatest legislative works in American history, with beneficial effects on the U.S. economy that repaid its cost many times over. (Incidentally, the benefits of the original bill included low-interest mortgages with no down payment — not so different from the "subprime" loans that working-class homeowners are now criticized for signing.)
Of course, McCain knows all this history, too, which raises the tough question of why he refuses to support Iraq and Afghanistan war veterans with commensurate benefits. Having built his own career on his service and suffering in Vietnam, he surely must be aware that the new generation of vets receives nothing like the assistance made available to those who served with him — because the landmark bill has not been updated for so many years. The current level of benefits doesn't cover even half the cost of state college tuition for most soldiers.
That is why Sens. James Webb of Virginia and Chuck Hagel of Nebraska wrote the Post-9/11 Veterans Educational Assistance Act, whose cost is estimated at less than $4 billion, or approximately one-tenth of 1 percent in the total expense of the current war. They have gathered 53 co-sponsors, including nine Republicans and three of the four other Vietnam veterans in the Senate, but they need 60 to defeat a likely filibuster by conservatives who've never served.
Incredibly, McCain has so far refused to add his name to the sponsors. His startling excuse is he has not had any time to read the bill during the past year or so. He has time to barbecue sausages for journalists. He has time to take a bus tour glorifying his own service. And he has time to hold fundraisers in Atlanta, New Orleans, Phoenix, St. Louis, New York, Boston, Chicago, Las Vegas and even London.
But, he has no time for today's soldiers. If that isn't the worst kind of elitism, what is?
Joe Conason writes for the New York Observer (www.observer.com). To find out more about Joe Conason, visit the Creators Syndicate website at www.creators.com.
COPYRIGHT 2008 CREATORS SYNDICATE, INC.
GFRE - Seems like a good long term hold. Non-sexy core business. Sold most of my shares when the outgoing IR (Hayden) pumped and dumped their shares. Does not seem like the new IR firm is doing much of anything to help the share price at this point.
Bought a few today - one of my rare stock purchases these days as I have gone to ground otherwise. Will buy more if it drops to $1.00 area. At that price it would be a real bargain.
OT Cliffvb: I would enter it as a sale with the same cost basis showing a net zero for the transaction gain or loss. Note that it is an open short position shown only to reconcile gross proceeds to 1099.
Pretty sure nobody is going to personally peruse your return to check that out. Best case however is that both numbers reconcile.
DPDW: Why put out a "time is not critical" news release on a big down day?
They could use some help in the PR department.
OT - ari500 : With all candor, why not start your own trading board like 10bagger.
Can you imagine if all 800+ boardmarked readers/posters put up their trades how voluminous the posts would be here. I don't see how anyones trade stats are relevant to the VMC process.
Don't tell me to ignore your posts - it is not the point. Nobody should have to put someone on ignore because everyone is capable of putting out that post with great DD that gives you a home run investment. I/we just don't want to have to sift through anyones trading stats to find the gem.
I feel somewhat cheated being a paying member to your free status and reading the clutter.
No disrespect intended!
Wash Sales: Past discussion on this board showed that some people thought it ok to sell for a loss in personal account and buy the same stock in the IRA. I have never done that as I thought it skirting the rules.
From today's Oregonian:
Wash sales. IRS officials issued a ruling late last year answering a question raised in this column many years ago. Suppose you sell a stock at a loss in your regular taxable account and then buy the same stock a few minutes later for your IRA. Can you deduct your loss? Or have you violated what's known as the wash-sale rules and are thus unable to deduct the loss? (A "wash sale" typically occurs when you sell or trade securities at a loss and buy the same thing, or something "substantially identical," within 30 days before or after the sale.)
The IRS's decision: If you did that maneuver, you did indeed violate the rules and can't deduct your loss.
OT: MSGI, do you seriously think that what you hear from a pro trader on TV is actually what they are doing with their own money?
I only need one hand to count the purely honest folks I met in the investment business during my time. If they say long, they most likely are flat to short. Maybe not in their own trading account, but somebody else is doing the deed for them. You can bank on that!
"Half the world--nearly three billion people--live on less than two dollars a day. One billion children--one half of the world's children--live in poverty. Over 10 million children died in 2003 before they reached the age of five. Hundreds of millions of people live without adequate shelter and no access to safe water or health services. Join us on this edition of Justice Talking as we look at the host of U.S. policies aimed at alleviating poverty, from international aid to food programs."
99.9% ? Nonsense - most of the underfed would welcome being spoon-fed by anyone. Most of the aid sent to the impoverished in Africa is stolen by the "masters". Most people on the planet pay no attention to being told anything. They are just trying to survive. They have no contact with the masters via TV, Internet, news.
Where do you come up with the stuff you post?
20 year pro who should know about diversification bites the dust! Idiots:
Bear Stearns failure claims Portland brokerage firm
A big investment turns fatal for HybridTrading
Saturday, March 22, 2008
JEFF MANNING
The Oregonian
Of all the stocks in the world, arguably none was more volatile or dangerous last week than faltering Wall Street titan Bear Stearns.
But where others saw a black hole, the principals at Portland discount brokerage HybridTrading saw gold. On Friday, the company made a huge and ultimately fatal investment in the teetering investment bank.
Bear Stearns' stock nose-dived from around $55 to $4, resulting in losses HybridTrading couldn't survive. The 4-year-old firm closed its doors for good at 5 p.m. Monday.
No customer money was lost in the Bear Stearns investment, said Julie Bussing, HybridTrading president. The company has begun notifying its 1,500 customers to switch their accounts to other brokerages. The company was doing about $300 million in customer trades, Bussing said.
Bussing would not disclose how much her company, with six employees, lost on the Bear Stearns trade. But she confirmed that by Monday, it no longer had the $50,000 necessary to satisfy minimum capital requirements.
Other Portland investment brokers voiced shock that Bussing would put her company's very existence on the line with the Bear Stearns investment. Some brokerages don't put their core capital at risk with speculative investments.
Bussing, 44, is stunned and disappointed by the demise of her firm. The 20-year veteran of the securities industry said the ongoing chaos in the financial markets is unprecedented.
"It's a unique time," she said. " I've never experienced quite as much turmoil in my own industry. Merrill Lynch, CitiGroup, our industry's bellweather firms, are running into unprecedented problems."
The company is recommending to customers that they move their accounts to Scottrade, a St. Louis-based discount brokerage. Scottrade has four offices in the metro area.
Bussing cofounded HybridTrading in 2005 with a small team of other alums of Bidwell & Co., a prominent Portland brokerage that was bought out by Ameritrade.
It's been a tough environment for brokerages. The popularity of mutual funds has cut into individual stock trading. The market turmoil has scared off some participants.
Bussing, who owns more than 90 percent of the firm, said she had considered selling HybridTrading. But she says it was in fine financial shape until last week.
It was a week of chaos and rising fears that Wall Street's major players were so overleveraged and had so many complex, intertwined deals with one another that the failure of one company could lead to a domino effect.
Bear Stearns was widely considered the most endangered of the major investment banks with its heavy exposure to mortgage-backed securities and other toxic debt.
Bussing defended the Bear Stearns investment, pointing out that many savvy investors felt the stock had bottomed out in the $50-a-share range after plunging from around $150 a year earlier.
HybridTrading bought at more than $50 a share early Friday. The stock lost nearly half its value by the end of the day.
By Sunday, the Federal Reserve, desperate to avert further bloodletting, engineered the buyout of Bear Stearns by JP Morgan Chase. The purchase price: $236 million, or $2 a share, which put HybridTrading far underwater.
There was no Federal Reserve to salvage HybridTrading. It shut down the next day.
"I think that we're in good company in not really foreseeing their precipitous decline," Bussing said. "It's a company that is regulated by the SEC and FINRA (The Financial Industry Regulatory Authority.) I guess they weren't fully aware of what was going on."
Jeff Manning: 503-294-7606; jmanning@news.oregonian.com %%endby%%
DPDW: I guess I kinda of knew that.
What has changed with DPDW since you posted? I still hold some shares for what I consider to be a long term shot at a high share prices.
I looked at DPDW at $0.25 when someone PM'ed me.. I did not like it then and see no reason to like it now.. That doesn't stop it from going up and so far I've missed the move.. DPDW profit margins are so slim in an industry that has profit margins of over 25% that it makes wonder out loud what is thier average down time on equipment.. If it is as high as I believe it to be they will only be profitable with spill over or under bid work that will dry up as new equipment is bought by others.. Also thier clients are in the same boat,, having to shop for services from marginal companies because thier prospects are marginal.. I would avoid DPDW at this or any other level,, but I remind all that was my opinion at $0.25...
OT:
Myths, Lies & Fabrications - Part II
a. Recession proof stocks - Sure keep saying it as they fade in value. Nothing but death is recession proof. Stocks don't exist in a vacuum without many factors influencing them such as greed, fear, margin calls, etc. Dream on.
b. China - The Olympics will focus the eyes of the world on China and therefore all China stocks will be a sure thing. Dream on.
ps - Mel Brooks did History of the World: Part I - out of respect for that classic I skipped Part 1
Penny Lane - Short list
http://www.interactivebrokers.com/en/trading/shortableStocks.php?ib_entity=de
Someone needs to learn the definition of "tact".
To those VM folks like you who proudly stayed in cash in the past year, you are losing money as USD is becoming "worthless".
Cause you sure don't have any of it.
POTUS wisecracking about a falling economy. It is the exact same speech he gives about every event. Fill in the blanks, Bernanke instead of Brownie, etc.
Less than 1 year and we will be rid of POTUSBUSH.
He is not funny.
Coming Sooner Than You Think
The Economic Tsunami
April 8, 2005 Almost three years ago - Someday, maybe tomorrow he might be correct.
By MIKE WHITNEY
"If the world's central bankers accumulate fewer dollars, the result would be an unrelenting American need to borrow in the face of an ever weaker dollar - a recipe for higher interest rates and higher prices. The economic repercussions could unfold gradually, resulting in a long, slow decline in living standards. Or there could be a quick unraveling, with the hallmarks of an uncontrolled fiscal crisis."
New York Times editorial 4-2-05
It seems that there are a growing number of people who believe as I do, that the economic tsunami planned by the Bush administration is probably only months away. In just 5 short years the national debt has increased by nearly 3 trillion dollars while the dollar has continued its predictable decline. The dollar has fallen a whopping 38% since Bush took office, due largely to the massive $450 billion per year tax cuts. At the same time, numerous laws have been passed (Patriot Act, Intelligence Reform Bill, Homeland Security Bill, National ID, Passport requirements etc) anticipating the need for greater repression when the economy takes its inevitable nosedive. Regrettably, that nosedive looks to be coming sooner rather than later.
The administration is currently putting as much pressure as possible on OPEC to ratchet up the flow of oil another 1 million barrels per day (well over capacity) to settle down nervous markets and buy time for the planned bombing of Iran in June. Like Fed Chief Alan Greenspan's artificially low interest rates, the manipulation of oil production is a way of concealing how dire the situation really is. Rising prices at the pump signal an upcoming recession, (depression?) so the administration is pulling out all the stops to meet the short term demand and maintain the illusion that things are still okay. (Bush would rather avoid massive popular unrest until his battle-plans for Iran are carried out)
But, of course, things are not okay. The country has been intentionally plundered and will eventually wind up in the hands of its creditors as Bush and his lieutenants planned from the very beginning. Those who don't believe this should note the methodical way that the deficits have been produced at (around) $450 billion per year; a systematic and orderly siphoning off of the nation's future. The value of the dollar and the increasing national debt follow exactly the same (deliberate) downward trajectory.
This same Ponzi scheme has been carried out repeatedly by the IMF and World Bank throughout the world; Argentina being the last dramatic illustration. (Argentina's economic collapse occurred when its trade deficit was running at 4%; right now ours is at an unprecedented 6%.) Bankruptcy is a fairly straight forward way of delivering valuable public assets and resources to collaborative industries, and of annihilating national sovereignty. After a nation is successfully driven to destitution, public policy decisions are made by creditors and not by representatives of the people. (Enter, Paul Wolfowitz)
Did Americans really believe they could avoid a similar fate?
If so, they'd better forget about it, because the hammer is about to come down big-time, and the collateral damage will be huge.
The Bush administration is mainly comprised of internationalists. That doesn't mean that they "hate America"; simply that they are committed to bringing America into line with the "new world order" and an economic regime that has been approved by corporate and financial elites alike. Their patriotism extends no further than the garish tri-colored flag on their lapel. The catastrophe that middle class Americans face is what these elites breezily refer to as "shock therapy"; a sudden jolt, followed by fundamental changes to the system. In the near future we can expect tax reform, fiscal discipline, deregulation, free capital flows, lowered tariffs, reduced public services, and privatization. In other words, a society entirely designed to service the needs of corporations.
There are a number of signs that the economy is close to meltdown-stage. Even with cheap energy, low interest rates and $450 billion in borrowed revenue pumped into the system each year, the economy is still barely treading water. This has a lot to due with the colossal shifting of wealth brought on by the tax cuts. Supply-side, trickle-down theories have been widely discredited and Bush's tax cuts have done nothing to stimulate the economy as promised. Now, with oil tilting towards $60 per barrel, the economic landscape is changing quickly, and shock-waves are already being felt throughout the country.
The Iraq war has contributed considerably to our current dilemma. The conflict has taken nearly one million barrels of Iraqi oil per day off line.(The exact amount that the administration is trying to replace by pressuring OPEC) In other words, the astronomical prices at the pump are the direct result of Bush's war. The media has failed to report on the negative affects the war has had on oil production, just as they have obscured the incredibly successful insurgent strategy of destroying pipelines. This isn't a storyline that plays well to the American public, who expected that Iraq would be paying for its own reconstruction by now. Instead, the resistance is striking back at the empire's Achilles heel (America's need for massive amounts of cheap oil) and its having a damaging affect on the US economy.
Just as the economy cannot float along with sharp increases in oil prices, so too, Bush's profligate deficits threaten the dollar's status as the world's reserve currency. This is much more serious than a simple decline in the value of the dollar. If the major oil producers convert from the dollar to the euro, the American economy will sink almost overnight. If oil is traded in euros then central banks around the world would be compelled to follow and America will be required to pay off its enormous $8 trillion debt. That, of course, would be doomsday for the American economy. But, a recent report indicates that two-thirds of the world's 65 central banks have already "begun to move from dollars to euros." The Bush plan to savage the dollar has been telegraphed around the world and, as the New York Times says, "the greenback has nowhere to go but down". There's only one thing that the administration can do to ensure that energy dealers keep trading in dollars.control the flow of oil. That means that an attack on Iran is nearly a certainty.
The difficulties facing both the dollar and the economy are not insurmountable. The world has been more than willing to compensate for America's wasteful spending as long as America shows itself to be a responsible steward of the global economy. However, the administration's military and economic recklessness suggests that some of the key players on the world stage (particularly Russia, Iran, Venezuela, Germany, France, China, Brazil) are collaborating on an alternate plan; a contingency plan. If Iran is bombed in an unprovoked act of aggression, we will certainly see this plan activated. The most likely scenario would be a quick switch to the euro that would have grave implications for the American economy. (Russia has already indicated that it will do this) For Iran, an attack would justify arming disparate terrorist organizations with the weaponry they need to attack American and Israeli interests wherever they may be. In any event, an unprovoked attack will dispel the remaining illusions about Bush's war against terror and confirm to everyone that we are engaged in a new world war; a conflict for global domination.
The neoliberal chickens have come home to roost. America has become the latest staging ground for the eccentric economic policies of the Washington Consensus. The towering national debt coupled with the staggering trade deficits have put the nation on a precipice and a seismic shift in the fortunes of middle-class Americans is looking more likely all the time. The New York Times summarized the country's prospects like this:
"The economic repercussions could unfold gradually, resulting in a long, slow decline in living standards. Or there could be a quick unraveling, with the hallmarks of an uncontrolled fiscal crisis."
"An uncontrolled fiscal crisis"... America's future under George Bush. We are facing years of collective struggle ahead. If there's a quick fix, I have no idea what it might be.
Mike Whitney lives in Washington state. He can be reached at: fergiewhitney@msn.com
CFSG: 144: Filing is for intent to sell. Just because you file, it does not mean it has been sold.
They still own more stock.
I wonder what additional info Sharesleuth will find? Did they cover, make big $$$ and move on, or are they going to pound away like an HSOA type campaign.
CFSG: From IHUB
Roth note on CFSG's drop
We remain confident in the Company's business fundamentals. China Fire, with its Sureland subsidiary is a real business. With a local presence in China, ROTH prides itself on due diligence and we always personally visit the company and keep in frequent contact with management. For China Fire, we have visited its home office and facilities in Beijing and Tianjin five times in the past 10 months. We have spoken to eight senior and mid-level managers at the company, not including rank-and-file employees, and we visited Wuhan Steel, the third-largest steel manufacturer in China and one of CFSG's major clients. We have verified with Capital Steel on the $31 million contract that CFSG recently announced and we only revised our estimate after the verification. In short, we believe China Fire has a very solid business.
They don't make mention of failure to disclose relationship to CEO of early investors and recent large sales by them. Red flag forcing me to get out.
abh3vt: I posted about this in Nov 07 and received ZERO response. Nobody wanted to talk about it. I agree that it has had a major impact. Cats out of the bag.
http://investorshub.advfn.com/boards/read_msg.asp?Message_id=24660976&txt2find=144
Completely OT
Do I disagree with you being dead serious? No can't say that I do.
1. Oracle, Wal-Mart, Microsoft & Apple are not the issue. These companies also have large internal staffs dedicated to handling the issues a shareholder might have and in the rare instance when the CEO is needed to be involved, he/she would be informed.
2. No day job sorry. But if I did, I am not the CEO of a public company. My personal email would be of little consequence. I would just filter you out as I do with the Viagra, Nigerian scams, etc. On the oft chance that a shareholder contacted me with some interesting info or questions, I as a public company official would be paying attention to the emails. As I said before, public company leadership goes hand in hand with a loss of privacy. Ask Ellison, Scott, Balmer & Jobs how shopping in the local mall is for a day of privacy? In a small company they don't have resources to offload the duty of public contact to a staff of gate keepers.
3. Spitzer got turned in due to banking laws and privacy invasion which is something you would be arguing on the survey board as being very much government intervention into personal lives. I am not supporting his actions, only against the privacy issues dealing with the money.