Nike fires majority of FuelBand team, will stop making wearable hardware: On Nike’s 70 employee Fuel-band team, about 70 percent to 80 percent -- or as many as 55 people -- were let go. [Note: Can’t help but think that Tim Cook showed Nike its new iWatch, laid out a plan of future collaboration, and Nike turns to believe that it has no way of competing]…Source: http://www.cnet.com/news/nike-
Specialty Drug Industry – The Alchemy of Finance? Dealogic claims that in 2012 and 2013 investors rewarded companies w/ increased share prices after announcing an intention to acquire another company…These days, investors are so enamored by ‘earnings accretion’ that managers are often not even asked about the form or term of the debt funding. What if the debt can't be refinanced in the future? What if interest rates rise dramatically? (One thing is for sure, they can't fall by much). Also, the accretion only exists whilst the debt is present. If market sentiment changes and the debt has to be repaid, potentially by raising equity at low prices, not only will the accretion disappear but dilution will kick-in…I have some concern about whether tax authorities in the US and Europe will continue to indefinitely facilitate such arrangements…Source: http://www.valueinstitute.org/
Barnes & Noble, better off without Nook & Malone.: The punch-line is still that, without NOOK Media, BKS is set to make ~350-400 mm in EBITDA. Thought I missed the boat. But the drama of Malone exit and Chariman selling shares might give us another chance again: http://www.microfundy.com/
'The Big Short' will hit the big screen: … Source: http://money.cnn.com/2014/03/
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