• Johnson & Johnson
    Posted by on November 17th, 2006 at 10:22 am

    Tempting. Very tempting.
    Check out the plunging P/E ratio.
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  • CNBC Is a No-Fly Zone for WSJ Reporters
    Posted by on November 16th, 2006 at 3:45 pm

    In a brave defense of symbolism, reporters at the Wall Street Journal have stopped making unpaid appearances on CNBC. They’re doing this to protest the Journal‘s position in its contract talks.
    Fight the power, fellas!
    According to the AP:

    Browning, who has worked at the paper for 27 years, said the company told union negotiators that they were unwilling to discuss any of the proposals made by the union.
    “To go into a meeting and be told there’s not a single proposal they’re willing to discuss is a pretty nasty way to start negotiations,” Browning said.
    In addition to suspending unpaid appearances on CNBC by Journal reporters, Browning also said union members would no longer do podcasts or Webcast interviews for the newspaper’s Web site.

    I’m not sure if this has already taken effect, or maybe it’s up to each reporter to decide. Already today, Gregory Zuckerman, Bob O’Brien, David Wessel and Vauhini Vara have been on CNBC. Perhaps they’re getting paid. Hmmm…will CNBC turn to bloggers?
    Charlie Gasparino has already stood up for the working class. He hasn’t updated SquawkBlog in over three months. OK, that was mean.

  • Home Depot Raises Dividend
    Posted by on November 16th, 2006 at 3:17 pm

    Home Depot (HD) increases its dividend by 50%. This is the second 50% increase this year.

  • S&P 500: 1400!
    Posted by on November 16th, 2006 at 2:30 pm

    The market hit another new high today, and oil is having its biggest fall of the year.
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  • Milton Friedman 1912-2006
    Posted by on November 16th, 2006 at 12:37 pm

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    Here’s his autobiography from the Nobel Prize Web site.
    In 1980, Friedman made the series Free to Choose on PBS (note irony). Here are some clips from YouTube.
    Free to Choose Volume 1
    Free to Choose Volume 2
    Free to Choose Volume 3
    Free to Choose Volume 4
    Free to Choose Volume 5
    Free to Choose Volume 6
    Free to Choose Volume 7
    Free to Choose Volume 8
    Free to Choose Volume 9
    Free to Choose Volume 10
    Today Alan Greenspan said of Friedman:

    He had been a fixture in my life both professionally and personally for a half century. My world will not be the same.

    Here’s Ben Bernanke on Friedman’s 90th birthday:

    Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.

  • Today’s CPI Report
    Posted by on November 16th, 2006 at 11:41 am

    The good news is that consumer inflation fell for the second straight month. Headline inflation dropped by 0.5%. The core rate, which excludes food and energy, rose 0.1%. Still, the core rate is running a bit high for my tastes.
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  • Doesn’t Anyone Want to Be a Stock Anymore
    Posted by on November 16th, 2006 at 11:02 am

    Clear Channel is the latest to go private equity. Think $18.7 billion.
    Here’s a chart you don’t see everyday.
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  • The News This Morning
    Posted by on November 16th, 2006 at 10:24 am

    Here are some interesting stories that caught my eye this morning.
    Google’s has put aside $200 million in reserve for lawsuits from YouTube. That’s probably a smart move.
    How the mighty have fallen: KLA-Tencor gets delisting notice.
    Don’t tell Lou Dobbs, but since 1990, one in every four venture-backed companies that have completed initial public offerings had at least one immigrant founder.
    Some investors are suing major private equity firms claiming they rigged stock purchases.
    The housing bubble slowly deflates.

  • Cisco’s Stock Buybacks
    Posted by on November 16th, 2006 at 10:09 am

    Seriously, it’s time we had an intervention for Cisco (CSCO). This company needs to STOP buying back its stock. It’s getting out of control. They just announced another $7 billion buyback. For the love of god, someone make them stop.
    This company is sitting on a mountain of cash (nearly $20 billion) and it’s getting thrown away. What’s wrong with a nice little dividend? Too much cash is not a good thing for a company. This is what I like to call the Bladder Theory of Corporate Finance. Cisco has wasted billions of dollars on buying back a stock that has gone nowhere.
    We need to plan it for the evening when Cisco gets back from the office. He’ll open the door, and all of us will be standing there. Then someone needs to say, “Dude, we need to talk.” At first, he’ll be all nervous, “Hey, what’s everyone doing here.” But deep down, he knows exactly why we’re there.
    I’m sorry but it needs to happen.

  • Dell Delays Earnings Report
    Posted by on November 16th, 2006 at 9:52 am

    Ugh.

    Dell Inc. on Wednesday delayed its earnings report as the U.S. Securities and Exchange Commission stepped up a probe into the computer maker’s accounting, and its shares fell nearly 3 percent.
    Dell said the delay of the earnings report, originally scheduled for Thursday, was not related to the SEC’s decision to elevate its investigation to formal from informal status.
    But the postponement reflects “the level of complexity the company is facing in the preparation of its preliminary results,” related to the SEC investigation and its own inquiry into accounting and financial reporting matters, Dell said.
    Dell plans to announce preliminary fiscal third-quarter results in a news release “by the end of this month,” but will not hold a conference call for analysts as it has in the past.