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  • Silver Wheaton Faces Possible Share Sale by Goldcorp
    as it turns out gg is actually selling its 48% stake at a discount of about 10% . and it looks strange that they sell the entire 48% at this price (keeping 10-15% certainly would have been possible and still had gg allowed to raise plenty of cash)
    the entire deal does not bode well for slw, as gg , among other purposes, wants to rtire some debt from the proceeds.
    onbviously, they think slw may rise less than the 6, 7 or 8% interest they pay on these debts.
    disclosure: sold my slw-position after GG's announcement
    Feb 04 06:42 am |Rating: 0 0 |Link to Comment |View article
  • Goldcorp's Sale of Silver Wheaton Interest Reduces Future Equity Needs
    selling slw, partly to retire old debt? that is probably bad news for slw shareholders. what interest does gg pay on these debts? 8%? 10%? or even less? (they have credit facilities (revolving and bridge loans) at libor plus 0.625/+1.125% !)
    obviously they think holding slw will yiield less than the interest paid on these debt facilities.
    makes one wonder whether bad news is about to hit slw.
    if, in turn, slw continues to achieve growing profits and if their shareprise continues to rise at the rate of the past 12 months then GG's mgmt would look foolish, to say the least and might face some very tough qestions by shareholders and analysts
    Feb 04 06:35 am |Rating: 0 0 |Link to Comment |View article
  • Microsoft Takeover Bid for Yahoo!
    yahoo is not down because of recession or fears thereof.
    it's down because it is falling more and more behind google.
    and nothing is to be seen that can stop this.
    msft greatly overpays for a loser who is in decline for the past 6years.
    if yahoo's shareholders or bod reject the deal they are simply stupid
    Feb 02 11:36 am |Rating: 0 0 |Link to Comment |View article
  • MBIA: Triumph of the Technocrats?
    MBIA's mgmt couldn't envisage a scenario of making losses at all less than a year ago. Longs better not take to much comfort in what MBI's mgmt says. back then they might have been simply blind and ignorant; these days they have, in addition, every incentive to cover up, hide and talk their book. Like ackman or dislike him but it seems he has a much more in-depth knowledge of MBIA and its vulnerabilities than even MBIA's senior mgmt.may it be that he was busy studying MBIA's risk exposure while mgmt was busy calculating their future bonusses? i wonder
    Feb 01 16:46 pm |Rating: 0 0 |Link to Comment |View article
  • It's Ugly Out There. What's Washington Waiting For?
    has it occured to anyone that Wallstreet is in fact deliberately tryi