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Jack in the Box, Rubio’s, Charlotte Russe, WD-40, and Callaway Golf face a double whammy:
I'm glad Jack in the Box is doing well with the ciatta sandwich and nacho sandwich. I remember in the mid 1970s that the chain almost went under when it unknowingly purchased hamburger patties in Australia that were spiked with Kangaroo meat. The public outcry was enormous.— August 28, 2008 8:10 p.m.
Amount Moores Group Is Offering to Peregrine Victims is $55 Million; Originally, Plaintiffs Wanted Over a Billion
I suspect $55 million is the insurance policy limit and Moores and the others will not have to contribute personal funds. The lawyers likely want their fees and will likely accept the settlement. Legal fees of 1/3 of $55 million is an enormous enticement to settle. Lawyers also receive statutory interest on their fee beginning on the date the suit was filed. William Lerach used to say that attorneys who file class action lawsuits have no clients to account to, and are free to settle cases as they please. On a per share basis this settlement offer probably amounts to very little for individual investors. I say roll the dice and go to trial.— August 28, 2008 7:41 p.m.
Jack in the Box, Rubio’s, Charlotte Russe, WD-40, and Callaway Golf face a double whammy:
I stopped eating at Jack in the Box 30 years ago when they took the Bonus Jack, along with Jack's Secret Sauce, off the menu. The Bonus Jack was one hell of a burger. The Bonus Jack couldn't compare with the chicken sandwich sold by Picnic'N Chicken, a local chain. Then Altas Hotels took over Picnic'N Chicken and shortly thereafter the company went out of business after posting huge losses.— August 27, 2008 8:34 p.m.
McCains Have Eight to Eleven Homes -- Two in Coronado, One in La Jolla, Says Blog
Barry Goldwater never spent much time in Arizona even though he was born there. He was raised in La Jolla and maintained a residence in La Jolla where he spent most of his free time until he died. He went to Arizona only when it was absolutley necessary, mainly for political reasons. Warren Buffet, who claims to live in a $30,000 house in Omaha because it fits the image he wants to project to the public, actually lives in Rancho Santa Fe.— August 24, 2008 9:24 a.m.
State Lands Commission Approves Lease of State Property for Poseidon's Carlsbad Desalination Plant
How will Poseidon transport the 50 million gallons per day it plans to produce without a pipeline? Are fleets of water trucks going to make hundreds of trips to the plant each day to transport the water to farms, construction sites, and industrial users?— August 22, 2008 6:21 p.m.
State Lands Commission Approves Lease of State Property for Poseidon's Carlsbad Desalination Plant
Who's going to buy the water the desalination plant produces? Can a private company build a plant and force the local water agencies to buy its output, and at what price?— August 22, 2008 3:09 p.m.
U-T Continues To Overstate Its Circulation Publicly, but a Potential Buyer Won't Be Fooled
The employees of Copley Press should purchase the paper, using funds from their pension plan. Maybe the paper would do better under employee ownership. Once the employees remove current management and restore readership, the pension fund could sell the paper to an investor who's capable of running it profitably. There's a report that the parent of The Seattle Times wrote that paper down to a market value of only $10 million. At this point it looks like the U-T is only worth $20 or $30 million at most. Employee ownership may be the only remaining viable alternative.— August 13, 2008 10:33 p.m.
Wealthy Local Citizens Discuss Buying U-T, Combining It with KUSI-TV, Possibly Having 24-Hour News Program
Craig is like the guy who has the winning $30 million lottery ticket, but doesn't come forward right away. He knows he has the money because he has the winning ticket, and he is in no rush to cash in. At this point he's content to bleed the newspapers white financially because he believes in the end he will own the entire US classified advertising market. He even has designs on the world advertising market and is expanding agressively overseas. EBAY is likely suing Craigslist for equity dilution because Craigslist is likely raising more cash to underwrite operating losses by selling more stock. EBAY would probably prefer to maintain its ownership percentage and have Craigslist pay its expenses with user fees instead of equity. This puts newspapers under enormous stress because they have to generate advertising revenue to pay reporters to write news stories. Craigslist has no reporters to pay and creates no intellectual content. Craigslist should be sued for monopolistic practices and should be required to charge a realistic and fair fee for ads.— August 10, 2008 9:40 a.m.
San Diego Is Chargers' Problem
According to the UT, Jack McGrory's city pension is $7,195 per month, a staggering sum. He's too young to draw a city pension and should not be eligible for benefits until he reaches age 65. http://www.signonsandiego.com/news/reports/watchd…— August 9, 2008 9:01 p.m.
Wealthy Local Citizens Discuss Buying U-T, Combining It with KUSI-TV, Possibly Having 24-Hour News Program
Craigslist only charges for help wanted ads in Washington DC and New York City, for reasons which are not entirely clear. When Craigslist puts the newspapers out of business, it will go through an IPO and start charging what the market will bear for ads. Craigslist's owners will become billionnaires. The scenario that "Craig" started the list to help out his friends and just stumbled by accident into a billion dollar business is drivel likely created by a PR firm. The newspapers should sue Craigslist for unfair business practices before it is too late.— August 9, 2008 8:25 p.m.