Tuesday, March 6, 2007

Buyer Beware remember fuzzy math?


If you are buying anything from the Mexican owned conglomerate CompUSA stores that are consolidating remember “ALL SALES ARE FINAL” even if it breaks the next day. Stubborn management pointed this out as I tried to exchange my new Nokia N800. Fortunately this company is private so CEO Roman Ross can burn the 440 million cash infusion away quickly before it goes out of business and won’t hurt common share holders. Note to CompUSA If Gorden Brothers the liquidators are going to soil your name perhaps you should have thought of taking down the old signs on your store. Remember they CompUSA were also sued by the FCC for rebate scams.
New Century (NEW) Michael Sacs director made off with 2.7m on a Feb 2nd sale @ 19.62 a share. The geniuses at New York hedge fund Greenlight Capital stuck 37 year old David Einhorn on the SS New Century Titanic board last year. David won the World Series of Poker in 2006. Other holders of New Century are Hotchkis & Wiley large cap value (HWLIX) Pete from Optionsmonster is jet setting over to CNBC and back and drops (PMI) Group (RDN) Radian Insurance (MTG) and (TGIC) as others to watch as this sub-prime hand goes bust. Listen to CoffeyGrinds podcast.

No comments: