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The Asus Transformer as a Productivity Device

Admin — Sun, 05 Feb 2012 04:47:08 +0000

Last time on Gadget Wisdom, we were asking the question of whether a tablet can be your primary computer. After we wrote this, we headed off on a long weekend with only an Asus Transformer. This is the original Asus Transformer TF101, not the newer Transformer Prime, but the concept is basically the same. If...

Rouse Announces Record Date For Rights Offering

Inelegant Investor — Fri, 03 Feb 2012 21:44:20 +0000

Rouse Properties(RSE) had announced it intended to do a rights offering after its spinoff from General Growth Properties(GGP) was complete. This afternoon, Rouse announced that the offering will be set for the close of business on February 13. Each Right will allow the holder to purchase 0.375094056 shares of stock at a price per share [...]

RIP Malev and Spanair

Admin — Fri, 03 Feb 2012 14:45:40 +0000

Last week, Spanair ceased operations after 25 years. The airline had been looking for a takeover partner to ensure operations, but was unable to do so and the government withdrew the funding support it had been giving the airline. Today, after 65 years, state-owned Malev Hungarian Airlines ceased operations as the government withdrew financing. The government had renationalized Malev in 2010, after 3 years of private ownership. Flights ceased at 6AM local time, and police are likely still guarding the ticket desk at the airport in Budapest as hundreds of passengers are trying to rebook or get a refund. The withdrawing of government funding for carriers is an issue in many European countries right now, due to the European debt crisis. The Hungarian government is seeking to aid in setting up a replacement, but only with private equity. We remember watching passengers queue for Malev flights in Terminal 3 at JFK. Their service to the United States terminated in 2008, after over a decade. It is always sad to see another airline go. Malev was actually supposed to receive deliveries of the Sukhoi Superjet 100, beginning last year, as part of a fleet revitalization. Now, that, like many things, will [...]

Viking Global Investors Reveals 6% Passive Stake In TripAdvisor

Inelegant Investor — Fri, 03 Feb 2012 13:28:07 +0000

Viking Global Investors filed a 13G yesterday, declaring a 6% passive stake in TripAdvisor(TRIP). It appears that the entire stake was purchased quite recently, as former TripAdvisor parent Expedia(EXPE) does not appear in the firm’s most recent 13F-HR, filed on November 14. As far as we can tell, Viking has never filed a 13D to [...]

LaGuardia’s Central Terminal Plan Requests Proposals

Admin — Fri, 03 Feb 2012 06:06:11 +0000

When they knocked down the former National Airlines terminal at New York’s Kennedy Airport, we bemoaned the fact nothing could be done to save part of this unique structure. When they knocked down the back of the old TWA terminal, and fortunately saved the front part of it, we were equally sad. And when they announced the loss of the Worldport, we bemoaned the loss of another icon. But, when it comes to the Central Terminal at LaGuardia Airport, there is nothing interesting or distinctive about it. It consists of narrow concourses. They’ve made some improvements, but it is inadequate for the needs of the airport and should be replaced.And the Port Authority announced that it was received 15 proposals from private investors to the project. We’re not sure what their plans are, but there are architectural features we hope they would keep in a new building. The terminal contains a food court and shopping area with a large glass window area. We tend to be saddened by the fact that modern airports seem to lack observation areas, outdoor or enclosed. The one at Laguardia used to be a tourist attraction. Too many of these have been closed for security [...]

McGraw-Hill May Sell, Rather Than Spin, Education Business

Inelegant Investor — Wed, 01 Feb 2012 13:22:48 +0000

McGraw-Hill(MHP) confirmed that it continues to move forward with a spinoff of its Education business, calling it ‘Plan A’, even while it engages in talks with potential buyers for the business. It is believed that the division is worth more than $2.5 billion. On today’s earnings conference call, the company indicated that the spinoff continued [...]

Post Holdings To Join S&P MidCap 400 Index

Inelegant Investor — Wed, 01 Feb 2012 13:21:04 +0000

S&P announced that, as of the close of trading on February 6, Post Holdings(POST) will join its former parent, Ralcorp(RAH) in the S&P MidCap 400 Index. Post will replace Comstock Resources(CRK) which will be moving to the smallcap index. Post will be distributed to shareholders of Ralcorp at the close of trading on February 3. [...]

Forbes Plays Monday Morning QB And Looks At Five ‘Shortsighted’ Spins

Spin Doctor — Tue, 31 Jan 2012 15:11:24 +0000

M&A gets a lot of attention, but many have questioned whether or not it delivers the expected returns to shareholders. Often this is a result of paying too much. While the data on spinoffs is pretty favorable (we might be a bit biased here), the transaction can have some consequences. For example, if the parent [...]

Episode 80 – The Incredible Shrinking Co-Host

Android Buffet — Tue, 31 Jan 2012 05:11:41 +0000

Guru and Jere talk about privacy, news, and more.

What You Say On Twitter May Keep You Out Of The United States

Infrequent Flier — Mon, 30 Jan 2012 19:37:51 +0000

We were disturbed by reports today that two British travelers were questioned, detained, and deported by the Department of Homeland Security, allegedly because of two tweets. Leigh Van Bryan and Emily Bunting say they were questioned for hours, detained, placed in a cell with violent criminals who stole their food, and finally sent back to England. All because Mr. Bryan joked on Twitter that he was going to “destroy America” during his trip — an apparent reference to partying — as well as dig up the grave of Marylin Monroe — a joke. “The Homeland Security agents were treating me like some kind of terrorist,” Mr. Bryan, a 26-year-old Irish citizen, said in an interview published in the British tabloid The Daily Mail. “‘You’ve really messed up with that tweet, boy,’” Mr. Bryan remembered one agent saying, using a more profane expression for messed up. He was questioned under oath about his postings to Twitter, according to images of a document said to be from the agency. The document, posted by The Daily Mail and quoted by The Sun, appeared to demonstrate a less-than-full understanding of social media by agents explaining the reason for the questioning: Mr. Bryan confirmed that [...]

Sears Sells Inventory And Customer Lists From Kmart’s Pharmacies To Be Closed To Walgreens

Inelegant Investor — Mon, 30 Jan 2012 17:34:04 +0000

Walgreens(WAG) announced today that it has reached an agreement to acquire prescription files and inventory from 33 Kmart pharmacies in 16 states from Sears Holdings(SHLD). A quick look at the locations reveals that these are the Kmart locations scheduled to be closed in the next few months. The first transition already happened 3 days ago, [...]

Kayak Stares Into The Face Of New Competition From Google, Fights Back With New Design

Infrequent Flier — Mon, 30 Jan 2012 13:21:10 +0000

We’ve long been fans of Kayak.com, though we have to admit that as of late, increased clutter and unreliability or lack of JetBlue results have had us using the site less often. Like most comparison sites, Kayak uses ITA software’s technology. ITA was purchased by Google last year, amid much fear that Google would use the acquisition to dominate this market. Google has, in fact, launched its own flight search tool, but Kayak is not standing still. Kayak spent six months on a new, simplified interface which it will be launching today. We aren’t seeing it yet on their website, but based on the screenshots, it looks to have removed much of the clutter that has crept into Kayak’s interface in the past few years. We welcome simplicity and will be looking to see whether Kayak can once again become our first stop for flight search. Related articles Google Makes Flight Search Results Better Looking, More Useful (searchengineland.com) Bing’s Travel Search & Kayak Favoritism Angers No One, While Google’s Gets Headline Attention From WSJ (searchengineland.com) Orbitz, Kayak think Google is abusing its power with travel search (venturebeat.com) Google excludes online travel agents from “Flight Search” (consumertraveler.com) With IPO On Hold, [...]

Kayak Stares Into The Face Of New Competition From Google, Fights Back With New Design is a post from Flight Wisdom - News, Thoughts, and Advice on Air Travel and the Travel Experience. All Rights Reserved.

When Sears Is All You Have- Small Towns Plead In Vain For Sears To Stay

Inelegant Investor — Mon, 30 Jan 2012 12:57:22 +0000

We have written previously about Sears(SHLD) closing dozens of stores. Now, the Huffington Post reports on some of the small cities and towns where Sears has announced closings that are desperate to keep their stores. Now, at least four of the places affected — Jackson, Miss., Cleveland, Tenn., New Smyrna Beach, Fla., and Harper Woods, [...]

As Post Begins Trading When Issued,No Free Toy In This Cereal Box

Inelegant Investor — Fri, 27 Jan 2012 18:01:30 +0000

Post Cereals(POST) began trading today on a when issued basis. Currently, it’s settled in around $26.50 with a range of $22.75 to $27.50. But what is it actually worth? One share of Post stock will be distributed on February 3 to for every 2 shares owned of Ralcorp(RAH) as of January 30, so those who [...]

Murphy Oil Considering Following Downstream Spin Trend

Spin Doctor — Fri, 27 Jan 2012 16:31:38 +0000

‘Everyone else is doing it’. Unfortunately, that line never worked for me as a child [it was always met with something like 'if everyone else was jumping off a bridge...' or 'well, you are part of this family'], but apparently it is the new motto for integrated energy companies. Many players in the space appear [...]

Fortune Brands Stub Beam, Inc. Raises Dividend 8%

Inelegant Investor — Fri, 27 Jan 2012 14:26:21 +0000

Beam, Inc.(BEAM), the former Fortune Brands after its spinoff of Fortune Brands Home & Security(FBHS) in October, has announced that it will raise its dividend 8%, from an annual rate of $0.76 to $0.82. The company also declared the next quarterly dividend of 20.5 cents per share, which will be payable on March 1, 2012 [...]

Rethinking Electronics in Flight or What’s Airplane Mode?

Admin — Fri, 27 Jan 2012 04:52:45 +0000

A few weeks ago, we commented on the ban on portable electronics. The truth is, in terms of the FAA’s stated rationale, there is little evidence presented that indicates the majority of electronics have any effect on aircraft systems. But, the other reason, the one not covered by the regulation, is the one that is more of a concern to us, after doing some passenger watching on a recent flight. Flight attendants, who deal with these issues every day, are concerned with the attention of the passengers on safety during takeoff and landing, when the majority of flight related issues seem to arise. That would explain why, perhaps, to follow that line of reasoning, headphones should be forbidden during takeoff and landing, as they would interfere with hearing inflight instructions. It may also explain forbidding gaming and mobile devices, to ensure one’s attention is on the situation at hand. However, people read, close their eyes and nap, and on many airlines, engage the built-in IFE. We knew all this before, however, it became very evident while thinking about it on recent flights. There were three passengers across from us who kept asking, “They want us to turn off our cell [...]

Sara Lee Takes Another Step Towards Spinning CoffeeCo

Inelegant Investor — Thu, 26 Jan 2012 16:46:03 +0000

We are entering the final months of the Sara Lee(SLE) conglomerate. The empire, which once included Coach(COH) handbags and Hanes(HBI) underwear, is aiming spin off its Coffee & Tea business(CoffeeCo) in April or May, though no final date has been set. As the date finally approaches(this was first announced a year ago), the company is [...]

God No Longer On Board Alaska Airlines

Infrequent Flier — Wed, 25 Jan 2012 22:26:59 +0000

Having never flown Alaska Airlines, it was news to us that for 30 years, together with their meals, the airline has distributed prayer cards featuring serene color pictures and verses from the Book of Psalms. Now we’ll never have a chance to get one, as the airline announced that it will stop distributing the cards as of February 1. The airline introduced the cards as a marketing gimmick, copying them form a rival airline. Perhaps they were particularly necessary in Alaska, the state with the highest rate of airplane accidents in the nation. An airline spokesperson said changes in customer feedback about the cards led to their retirement Airline spokeswoman Bobbie Egan said the decision was made after hearing from customers who preferred not to mix religion with transportation. The decision reflects respect for the diverse religious beliefs and cultural attitudes of Alaska Airlines’ customers and employees, the company said in announcing the change. “Some customers were comforted by the cards and some didn’t feel religion was appropriate on the plane and preferred not to receive one,” she said. … For a long time, Alaska Airlines got more positive comments than negatives ones. But lately, opinion has shifted. Egan said [...]

Construction Begins on Overpriced $791 Million 65 Foot High Fort Lauderdale Runway Expansion

Infrequent Flier — Wed, 25 Jan 2012 20:21:22 +0000

The Fort Lauderdale-Hollywood International Airport is the 22nd busiest in the United States- and it’s about to get busier. On Monday, a ground-breaking ceremony was heldat the airport, marking the beginning of a $791 million runway expansion project. A princely sum, indeed, but the project which will lengthen an existing secondary runway from 5,276 to 8,000 feet, will allow the facility, which served 22 million passengers last year, to handle 27% more flights. The expansion will be technically challenging, rising 65 feet into the air at a slope near the FAA limit, to pass over U.S. 1 and neighboring railroad tracks. This is a huge price tag, amounting to $36 in cost for each passenger who departs from or arrives at this airport each year. Proponents of the project claim that it will create 11,000 jobs Using the Regional Input-Output Modeling System (RIMS II) as a basis, the construction is anticipated to generate more than 11,000 jobs over the life of the project. RIMS II multipliers estimate how much a one-time or sustained increase in economic activity in a particular region will be supplied by industries located in the region and used by private and governmental agencies. Additionally, the airport [...]

Construction Begins on Overpriced $791 Million 65 Foot High Fort Lauderdale Runway Expansion is a post from Flight Wisdom - News, Thoughts, and Advice on Air Travel and the Travel Experience. All Rights Reserved.

Angry Sun Erupts, Sending Planes South

Infrequent Flier — Wed, 25 Jan 2012 16:50:26 +0000

For the second time in a week, the Earth has been hit by a coronal mass ejectionin the most severe solar storm since 2003. The increased radiation from the charged particles of the storm which can interfere with communications is strongest near ...

California Man Changes Flight 510 to Flight 420

Infrequent Flier — Tue, 24 Jan 2012 21:56:30 +0000

43 year old Adam Blumenkranz of Los Angeles was arrested at Newark’s Liberty Airport Monday after he was discovered smoking marijuana in airport restroom on JetBlue flight 510 from Fort Lauderdale to Newark. Blumenkranz, who was somehow unaware...

Ron Paul Decries TSA Police State, White House Defends TSA

Infrequent Flier — Tue, 24 Jan 2012 05:28:18 +0000

After his son, Senator Rand Paul, was detained and denied boarding for refusing an invasive pat-down, Representative Ron Paul issued a sharply-worded statement promising to eliminate the TSA should he be elected President “The police state in this country is growing out of control,” the elder Paul said in a statement released by his presidential campaign. “One of the ultimate embodiments of this is the TSA that gropes and grabs our children, our seniors, and our loved ones and neighbors with disabilities,” he continued. “The TSA does all of this while doing nothing to keep us safe. That is why my ‘Plan to Restore America,’ in additional to cutting $1 trillion dollars in federal spending in one year, eliminates the TSA.” We don’t believe the TSA should be eliminated, necessarily, but it needs to be refocused on its mission of security and it needs to do so not by assuming that American citizens are criminals and treating them as such. The White House, meanwhile, tepidly defended the TSA’s actions: White House press secretary Jay Carney said Monday that he didn’t have any reaction to Paul’s “police state” comments. But Carney sided with the TSA saying, “I think it is absolutely [...]

Episode 79 – Don’t Let the Androids Bite

Android Buffet — Tue, 24 Jan 2012 05:09:22 +0000

Jere is tired, so we did a slightly shorter show.

Heavy Turbulence Sends 5 American Airlines Crew To Hospital

Infrequent Flier — Mon, 23 Jan 2012 22:42:22 +0000

All was normal aboard American Airlines Flight 980 from Brazil to Miami. Then, two hours into the eight hour flight, with food service underway, the plane suddenly lurched violently. The unexpected turbulencesent a food cart flying, damaging the...

What Did US Airways Do With Angeline O’Grady’s Husband?

Infrequent Flier — Mon, 23 Jan 2012 22:26:29 +0000

Angeline O’Grady wants to know what happened to her husband. On November 1, she was traveling through Philadelphia International Airport with the ashes of her late husband, Brian. She was told by TSA agents that she could not bring the ashes through security with her. TSA policy explicitly allows cremated remains to be taken on board only if in a container that can be screened. Agents will not open a container of remains for inspection, even if asked to by a passenger. As not all airlines will allow cremated remains in checked luggage, the TSA recommends that ashes be placed in a wood or plastic container for travel. O’Grady placed the remains in her checked luggage and proceeded to England to bury her husband in his hometown of Hull, but was shocked to discover upon her arrival that her husband’s remains had gone missing. US Airways has apologized and said it is continuing to search for the remains. We hope they are able to find them soon to comfort Mrs. O’Grady in this difficult time.

TSA: We Treated Rand Paul Just Like Anyone Else(Perhaps In Violation Of Section I, Article VI Of Constitution)

Infrequent Flier — Mon, 23 Jan 2012 17:04:20 +0000

A short time ago, we reported that the TSA had detained Senator Rand Paul this morning. The Hill is now reportingthat the TSA is denying that Senator Paul was detained, saying rather that he was escorted from the secure area and not allowed to board his flight. “When an irregularity is found during the TSA screening process, it must be resolved prior to allowing a passenger to proceed to the secure area of the airport,” the agency said Monday in a written statement. “Passengers who refuse to complete the screening process cannot be granted access to the secure area in order to ensure the safety of others traveling.” Rep. Paul and Sen. Paul’s office contended the lawmaker was detained by TSA employees, but U.S. security officials denied that Sen. Paul was held by the agency. Instead, they said the senator was escorted out of the security area after his refusal to accept a pat-down after his trip through one of the agency’s X-ray machines caused issues. Other reports claim that after the scanner detected “an anomaly” on the Senator’s knee, he lifted his pants lag to reveal no objects and refused further invasive inspection. Aside from the regular issues at play here, there [...]

TSA: We Treated Rand Paul Just Like Anyone Else(Perhaps In Violation Of Section I, Article VI Of Constitution) is a post from Flight Wisdom - News, Thoughts, and Advice on Air Travel and the Travel Experience. All Rights Reserved.

Senator Rand Paul Refuses To Be Groped By TSA Agents, Detained In Nashville

Infrequent Flier — Mon, 23 Jan 2012 15:54:38 +0000

We don’t agree with most of what Senator Rand Paul stands for, but we agree wholeheartedly with his stand for liberty and personal freedom this morning in Nashville. It is being reported that Paul, the son of Texas congressman and Republican presidential candidate Ron Paul, refused an “enhanced pat-down” by TSA agents after setting off a full body scanner. Ron Paul confirmed his son had been detained for refusing to be groped in a tweet “My son @SenRandPaul being detained by TSA for refusing full body pat-down after anomaly in body scanner in Nashville. More details coming” We have known people who have been forced to undergo this procedure(in one case a pregnant woman singled out for wearing “baggy clothes”) and it was uniformly described as invasive and offensive. Furthermore, there is no evidence that it has added to airplane safety. The framers of the constitution understood that “unreasonable search and seizure” could make us safer, but that it would not make us freer, and they decided wisely that it was better to be free and unafraid. We would do well to restore these freedoms that have been usurped by an agency whose mission has crept further and further afield [...]

New CEO Says RIMM Has No Plans To Split Itself In Two

Inelegant Investor — Mon, 23 Jan 2012 13:37:32 +0000

Research In Motion(RIMM) has long been viewed as a company in freefall. Market share has been in decline, with both iPhone and Android showing impressive gains. Among others, RBC’s Mike Abramsky suggested last summer that the company would be more successful splitting into a hardware company and a network operations company. The network part of [...]

Local Paper Interviews Marc Baker, CEO of Orchard Supply Hardware

Inelegant Investor — Mon, 23 Jan 2012 13:07:25 +0000

The Mercury News interviewed Marc Baker, CEO of Orchard Supply Hardware(OSH), which was recently spun off from Sears Holdings(SHLD). There’s nothing really new here, but it’s always interesting to see how a CEO views and spins his company. Some highlights: Q Where does Orchard fall in terms of the hardware store landscape? A We think [...]